In \( \triangle PQR \), we are given that \( ST \parallel QR \). According to the Basic Proportionality Theorem (also known as Thales' theorem), if a line is parallel to one side of a triangle and intersects the other two sides, then the two sides are divided proportionally. That is,
\[
\frac{PS}{PQ} = \frac{PT}{PR}
\]
Substitute the given values:
\[
\frac{4}{12} = \frac{PT}{24}
\]
Now, solve for \( PT \):
\[
\frac{1}{3} = \frac{PT}{24}
\]
\[
PT = \frac{1}{3} \times 24 = 8 \text{ cm}
\]
Thus, \( PT = 8 \) cm.