Thailand Post to Raise Rates

Thailand Post will increase rates for domestic special postal services next Monday to generate more revenue for major business expansion to compete with global leading transport companies when the industry is open for full competition in three years. Thailand Post director Anusorn Tamajai said that although the rates for special postal services would increase, redemptions in case of loss would also go up. Domestic special postal services include express mail service or EMS, registered mail, certified mail and insured mail. The EMS rate will be raised to 27 baht from 20 baht and the redemption to 1,000 baht from 800. The rate for registered mail will be increased to 13 baht from 8 baht, and the redemption to 300 baht from 200, while certified mail will cost eight baht from five baht, and redemption to 150 baht from 100 baht. The rate for insured mail will be increased to 15 baht from 10 baht while the maximum redemption will be 5,000 baht. Over the past seven months of this year, Thailand Post registered a net profit of 1.018 billion baht on revenue of 6.67 billion baht, he said, forecasting that by the end of the year it would generate 12 billion baht in revenue. Thailand Post targets a 9.5% rise in revenue from this year. Its major revenue source, at 80.7%, is postal services.