PTT Oil and Retail Business Public Company (OR) will invest in Traveloka through its subsidiary PTTOR International Holdings (Singapore), providing additional lifestyle solutions to OR customers and growth opportunities to both companies in domestic and international markets.
OR and Traveloka will seek new investment opportunities together with partners to provide more solutions to address customers’ needs.
According to Jiraphon Kawswat, president and CEO of OR, the company has chosen to focus on the travel sector as tourism is one of the major economic contributors to the Thai economy.
Kawswat said: “OR foresees many opportunities and possibilities that we can realise from this collaboration. Not only can this partnership provide new opportunities to OR in the travel sector, it can also provide additional venues for OR’s existing partners and business alliances to grow together with OR and to deliver greater offerings and experiences to OR customers.
“Given Traveloka’s position as a leading online platform for travel and lifestyle services in South-east Asia, as well as its strong technology capabilities, I believe there is a range of areas OR can explore together with Traveloka, to further enhance our tech capabilities.”
Ferry Unardi, co-founder and CEO of Traveloka, added: “We see immense value from the collaboration as we see the region growing at a rapid pace, leading to greater opportunities in the industry. We are excited to work with OR, with its expertise in creating great businesses with a customer-focused approach, to capture the demand and provide enhanced solutions to our customers, while also creating new opportunities for our merchant-partners in Thailand and the region.”