As of October 2017, the Government of Thailand holds majority ownership in 56 commercial entities that are categorized as state-owned enterprises (SOEs).[1]: 53  These include:

  • Forty-six non-financial SOEs concentrated in key economic sectors such as communications, power generation and distribution, transportation, and water management. Several are among the largest listed companies in Thailand.
  • Ten financial SOEs, including a state-owned bank, a government pawnshop, and eight specialized financial institutions (SFIs) that carry out high-profile policy functions.[2]
  • Since the military coup of 2014, there has been a sharp increase in active duty military officers sitting on the boards of state-owned enterprises. Of the 56 state-owned enterprises, 42 have military directors as of 2018.[3]

SOE financials

SOE total assets rose from 4.3 trillion baht (US$130 billion) in 2004 to 14.9 trillion baht (US$450.8 billion) in 2016.[4] Revenues increased from 1.4 trillion baht to 4 trillion baht over the same period. As assets have risen, profits have fallen—from 304 billion baht in 2013 to 291 billion in 2016.[5] SOEs contributed 162 billion baht (US$17.5 billion) in tax revenues in FY2016 (ending 30 September 2016). They employ 425,000 workers. The average return on assets for all SOEs in 2016 was 1.6 percent. SOE's total investment budget in FY2016 was 580 billion baht (US$17.5 billion) and is budgeted at 800 billion baht (US$24.2 billion) for FY2017.[4]

2017 results

Nearly all state enterprises delivered higher profits in 2017. The State Enterprise Policy Office (SEPO) reported that the top five state enterprises by contributions to Thai government coffers in 2017 were the Government Lottery Office (GLO) at 30.9 billion baht, PTT Public Company Limited (PTT) at 26.3 billion, the Electricity Generating Authority of Thailand (EGAT) at 21.7 billion, Government Savings Bank at 13.1 billion and the Provincial Electricity Authority (PEA) at 11.4 billion.[6]

As of 2018 six underperforming state enterprises have been placed in "business rehabilitation" status by the State Enterprise Policy Commission. The six are the State Railway of Thailand, the Bangkok Mass Transit Authority, Thai Airways International PLC (THAI), TOT PLC, CAT Telecom, and the Islamic Bank of Thailand.[7] (Thai Airways ceased to be a state enterprise in May 2020).[8]

List of state enterprises

As of 2018, the state enterprises of Thailand are as follows:[9]

Former state enterprises

See also

Notes

  1. 1 2 3 Not a legal person

References

  1. ↑ Getting Back on Track; Reviving Growth and Securing Prosperity for All; Thailand Systematic Country Diagnostic (PDF). Washington: World Bank Group. 2016-11-07.
  2. ↑ "Financial Business under the Bank of Thailand's supervision and examination" (PDF). Bank of Thailand (BOT). Bank of Thailand (BOT). Retrieved 29 March 2017.
  3. ↑ Macan-Markar, Marwaan (18 May 2018). "Thai military moves to cement relations with big business". Nikkei Asian Review. Retrieved 18 May 2018.
  4. 1 2 Janssen, Peter (18 October 2017). "Military makeover for Thailand's hidebound state enterprises". Asia Times. Retrieved 19 October 2017.
  5. ↑ Thanthong-Knight, Randy; Yuvejwattana, Suttinee (16 November 2018). "Thailand Dips Into Cash Cows to Support Economy". Bloomberg. Retrieved 16 November 2018.
  6. ↑ Chantanusornsiri, Wichit (12 February 2018). "PTT, AoT dish out biggest bonuses". Bangkok Post. Retrieved 13 February 2018.
  7. ↑ Theparat, Chatrudee (9 October 2018). "New THAI boss envisions turnaround". Bangkok Post. Retrieved 9 October 2018.
  8. 1 2 "Five tipped to lead THAI comeback". Bangkok Post. 25 May 2020. Retrieved 25 May 2020.
  9. ↑ Office of the Public Sector Development Commission (1994). การจัดการโครงสร้างหน่วยงานของรัฐในกำกับของฝ่ายบริหาร Management structure of state agencies in the executive (PDF). pp. 14–32. ISBN 978-974-499-754-8. Archived from the original (PDF) on 18 February 2015. Retrieved 24 October 2015.
  10. ↑ "DAIRY FARMING PROMOTION ORGANIZATION OF THAILAND" (PDF). DPO. Retrieved 2018-12-21.
  11. ↑ Chantanusornsiri, Wichit; Paweewun, Oranan (21 August 2019). "GH Bank has high-income earners in sight". Bangkok Post. Retrieved 21 August 2019.
  12. ↑ ""การยาสูบแห่งประเทศไทย" ก้าวใหม่ของยาสูบไทย เมื่อเป็นนิติบุคคล (press release)". Matichon Online (in Thai). 18 May 2018. Retrieved 29 August 2018.
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