Privatized Thai Post Office to make profits ‘within 3-5 years’
The head of Thailand’s newly privatized Post Office Company today expressed confidence that the company would begin making profits within the next 3-5 years.
Speaking this afternoon at a signing ceremony with TT&T for a leasing agreement for online postal services, Mr. Dhiraphongs Suddhinond conceded that in the past the state-run company had faced annual losses of Bt1.3-1.5 million.
However, the company had been working hard to boost its range of services, and in the future the percentage of its revenue from mail services was likely to drop from 70-80 percent to 60 percent, as revenue from new services increased, he said.
Expressing confidence that the company would begin making profits within 3-5 years, he said that once the company could stand on its own feet, it would consider listing on the stock exchange.
Under the three-year deal signed today with TT&T, the Post Office Company will pay TT&T Bt162 million in order to carry out online postal and service payment transactions.
These will include online payments for international postal services, transactions currently conducted by financial institutions, and provisions for tracing whereabouts of express (EMS) mail.
