Somchai Khulimekhin said that diversifying into premium-grade products would be a major driver behind revenues in 2007.

The new product range would increase the company's gross margin, he said, adding that there was high demand for premium plastics products from growth industries.

He said the plastics and petrochemical company had earlier forecast revenue growth for this year of 8-12 per cent, despite the economic slowdown.

"The company expects to meet its revenue target of Bt3.6 billion this year thanks to its policy of maintaining its existing customer base and expanding product lines and markets," he said.

The plastics and petrochemical industry would grow to be nearly double the country's gross domestic product growth on anticipation of increased demand in supporting industries, he forecast.

Petrochemical product prices are expected to increase on the assumption that oil prices are going to rise as oil-producing countries have said they will reduce production to shore up prices, he said.

Typically, petrochemical product prices follow oil prices.

World oil prices have fallen from a historic peak at over US$70 per barrel to $56-$60 now.

Petrochemical prices next year should be less volatile than this year, he said.

Somchai said that supply in plastics market would exceed demand from late 2008 onwards and prices would then fall significantly.

Global Connections raised Bt102.73 million in fresh funds from the stock market in late 2005.

Going public helped the company to reduce financial costs while domestic interest rates were rising, he said.

The company's net profit in the third quarter of this year jumped to Bt22.86 million from Bt14.35 million in the same period last year.