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.
Read MoreThe public has a right to know every aspect of Thailand Post’s financial details now that it has increased postal fees and begun its move toward privatisation, a leading consumer rights advocate said yesterday. “We must challenge the government’s perception that all public utilities must make a profit and those profits should help boost the stock market,” said Saree Aongsomwang, director of the Foundation of Consumers. “This perspective is dangerous because the state has an obligation to provide public services.”
Read MoreThe numbers of letters and parcels have dropped by 20 percent, after Thailand Post increased stamp prices and other service fees a month ago.
President of Thailand Post Company Limited Theerapong Suthinon revealed that the company increased its service fees on January 15th, with the permission of the Cabinet. Although the numbers of letters and parcels is dropping, the company believes that the situation will soon be back to normal.
Read MoreCustomers of Siam Commercial Bank (SCB) will be able to conduct basic bank transactions at more than 1,200 post offices nationwide by the third quarter of this year.
The country’s fourth largest bank signed an agreement with Thailand Post to set up bank branches at the latter’s post offices – to boost SCB’s customer base and reduce operational costs.
Read MoreThai Post Office has signed an MOU to undertake certain businesses jointly with the Bank for Agriculture and Agricultural Cooperatives (BAAC), Krungthep Turakij reported.
To prepare for privatisation, Thai Post Office is expanding its businesses. In 2004 the company expects to make 30% of its income from supplementary services like financial services and retail services and just 70% from mail services. The stamp price for sending a domestic letter will be increased from two baht to three baht in 2004, which is expected to raise Thai Post Office’s annual income from eight billion baht to nine billion baht. Thai Post Office still expects to operate at a loss in 2004.
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