Companies vie to set up shops inside Thailand Post Offices
Krung Thai Bank and four other private companies are interested in doing business in Thailand Post’s post offices and are willing to help renovate and turn them into new business outlets.
KTB, Ban Rai Coffee, 7-Eleven, Central Retail Corporation and United Communication Industry have offered to renovate post offices in Ngam Wong Wan, Patpong, Hua Mark, Sanam Pao and Tha Phra under a pilot project initiated by Thailand Post and the bank, according Oamsin Cheewapluek, Thailand Post’s senior executive vice-president
If the pilot project is successful, Thailand Post will extend it to other post offices, which would enable KTB to increase the number of its branches to the provinces at the same time, he said.
A source said that KTB had earlier proposed a 60:40 joint venture with Thailand Post to handle the new business.
But Dr Surapong Suebwonglee, the Information and Communications Technology Minister, wanted KTB to hold no more than 25percent and the bank withdrew its offer.
But under the new proposal by KTB and the four companies, the Thailand Post outlets would not only provide postal services but also banking, retailing, coffee and telecom services, said Mr Oamsin.
He said Thailand Post would grant rights to the companies to manage the post offices for 10 years if the pilot project did well.
Thailand Post would not receive a share of revenue from the new businesses but would benefit from having its post offices renovated at no cost to the state agency, he said.
He said Thailand Post was now reviewing details of the proposal and the new ventures could be operating by the third quarter of this year.
In addition to the five companies, Thailand Post also has negotiated with A&J Beauty Products, the operator of the well-known Jae Leng commercial centre, to put its cosmetics products on sale on the renovated post offices. In this case, he said, there would be a revenue-sharing arrangement.
Mr Oamsin said he expected the new-look post offices would attract more people and help increase Thailand Post’s revenues by about 10percent from nine billion baht last year.
