List of state enterprises of Thailand


, the Government of Thailand holds majority ownership in 56 commercial entities that are categorized as state-owned enterprises. 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 that carry out high-profile policy functions.
  • 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.

SOE financials

SOE total assets rose from 4.3 trillion baht in 2004 to 14.9 trillion baht in 2016. 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. SOEs contributed 162 billion baht in tax revenues in FY2016. 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 and is budgeted at 800 billion baht for FY2017.

2017 results

Nearly all state enterprises delivered higher profits in 2017. The State Enterprise Policy Office reported that the top five state enterprises by contributions to Thai government coffers in 2017 were the Government Lottery Office at 30.9 billion baht, PTT Public Company Limited at 26.3 billion, the Electricity Generating Authority of Thailand at 21.7 billion, Government Savings Bank at 13.1 billion and the Provincial Electricity Authority at 11.4 billion.
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, TOT PLC, CAT Telecom, and the Islamic Bank of Thailand..

List of state enterprises

, the state enterprises of Thailand are as follows:

Former state enterprises