revenue

  • Thailand News

    Thailand’s national parks smash revenue records

    Thailand’s national parks achieved a monumental milestone, breaking revenue records by collecting a whopping 1.785 billion baht between October 1 last year, and June 20 this year. This incredible sum surpasses the total amount collected in the whole of 2023, which stood at 1.467 billion baht. Leading the charge is the Nopparat Thara Beach National Park, Phi Phi Islands, raking…

  • Thailand News

    TAT’s plan to lure long-haul tourists with 3.5 trillion baht goal

    The Tourism Authority of Thailand (TAT) unveiled an ambitious strategy to boost tourism revenue to a staggering 3.5 trillion baht by year-end, focusing on long-distance markets. Siripakorn Cheawsamoot, TAT’s Deputy Governor for Europe, Africa, the Middle East, and the Americas, outlined the plan yesterday, revealing that tourists from far-flung corners of the globe are crucial to hitting the government’s lofty…

  • Business News

    Lay’s chips in: PepsiCo to grow revenue by 15% for Thai farmers

    Pepsi-Cola (Thai) Trading Co (PepsiCo), the producer and distributor of Lay’s potato chips, has intensified efforts to boost agricultural productivity among its 5,800 contract farmers, aiming to increase revenue by 15% for 35% of these farmers by 2030. General Manager of Indochina Foods and Chief Commercial Officer for Asia-Pacific, Sudipto Mozumdar highlighted the challenges posed by climate change and rising…

  • Thailand News

    PM Srettha sees a revenue-boosting recipe for Q4

    Thailand’s government is exploring strategies to enhance state revenue, with Prime Minister Srettha Thavisin expressing optimism about economic improvement in the fourth quarter. The Bangkok-born PM convened a meeting yesterday with Finance Minister Pichai Chunhavajira, Deputy Finance Minister Julapun Amornvivat, and representatives from key revenue collection agencies, including the Excise Department, the Customs Department, and the Revenue Department, to discuss…

  • Business News

    Tax refund delays: Stricter checks put paperwork in slow lane

    Stricter document verification has led to delays in personal income tax refunds this year, the Revenue Department reported. An increase in the submission of fraudulent documents, particularly fake income certificates (50 Tawi), prompted the department to scrutinise tax refund documents more meticulously. Vinit Visessuvanapoom, Deputy Director-General and principal advisor on tax base management stated that the department’s heightened caution stems from…

  • Thailand News

    Thai AirAsia’s first quarter: Revenue skyrockets yet net loss stings

    Asia Aviation PLC (AAV), the powerhouse behind Thai AirAsia Co. Ltd (TAA), unveiled a tale of contrasting fortunes in its first-quarter performance of 2024. Revenue rocketed by an impressive 52%, hitting 13,793.7 million baht, while positive earnings before taxes soared by 78% to 3,094.2 million baht. But amidst the celebratory air, a storm brewed as the company recorded a staggering…

  • Business News

    Central Retail reports 6% revenue boost to 67.3 billion baht

    Central Retail Corporation‘s first quarter earnings report revealed a robust performance, with a 6% revenue increase to 67.3 billion baht (US$1.84 billion). Significantly, the company’s net profit jumped by 14% to 2.52 billion baht (US$ 70 million) compared to the same period last year. Under the leadership of Yol Phokasub, the company has seen a notable shift towards omni-channel retailing,…

  • Business News

    Thailand’s revenue department ups tax amid economic slowdown

    The Revenue Department faces a challenging year in meeting its tax collection targets, owing to a slowdown in economic activities. Despite this, five sectors have been identified as promising. The department, led by director-general Kulaya Tantitemit, has increased its revenue collection target to 2.27 trillion baht (US$61.7 billion) for the fiscal year 2024, up from 2.02 trillion baht (US$55 billion)…

  • Business News

    Samsung aims for 20% revenue rise with enterprise-focused mobile devices

    Samsung is set to enhance its footprint in the corporate user base by unveiling an array of smart devices and solutions. The technology giant anticipates a 20% rise in revenue from mobile devices specifically tailored for the enterprise market this year, revealed Panupat Kasemsuk, the head of B2B mobile experience at Thai Samsung Electronics Co. Panupat highlighted that business customers…

  • Business News

    Taxing times ahead: Employers must now e-file payroll returns

    Vinit Visessuvanapoom, the Director-General of the Revenue Department, announced a new requirement for all employers to submit payroll tax returns electronically. The move is part of an effort to prevent fraudulent tax return forms. The director-general highlighted that before the department’s notification on income tax No.438, the electronic submission was voluntary. However, starting from January 1, 2024, all tax return…

  • Business News

    Thai government’s revenue collection could fall short in 2024

    Deputy Finance Minister Krisada Chinavicharana expressed concerns that the government’s revenue collection for fiscal 2024 might not surpass the target, unlike the 174 billion baht (US$4.8 billion) surplus witnessed the previous year. This was announced at the Outstanding Revolving Fund Award event held yesterday. The government has projected an expenditure budget of 3.48 trillion baht (US$96 billion) for fiscal 2024,…

  • Business News

    Southern Thailand sees room revenue surge due to European visitors

    Southern provinces of Thailand are experiencing a boost in room revenue in the first quarter, thanks to extended stays by European visitors. This increase has occurred despite the lesser number of tourists from China. Room rates have reached a new high, setting a record. Pongsakorn Ketprapakorn, the ex-president of the Tourism Council of Phangnga predicted the surge. “The first quarter…

  • Business News

    Thailand’s Q1 2024 government revenue exceeds target by 0.3%

    The Fiscal Policy Office announced that government revenue collection for the initial quarter of fiscal 2024 surpassed its target by 0.3%, equating to 1.62 billion baht (US$45 million), according to the director-general, Pornchai Thiraveja. Pornchai, who also serves as a spokesperson for the Finance Ministry, disclosed that the government’s net revenue collection for the initial three-month period of fiscal 2024,…

  • Business News

    National Telecom targets smart meter project amid anticipated revenue loss

    National Telecom (NT) is seeking to broaden its business horizons as it anticipates a revenue loss of 4 billion baht next year due to the termination of some contracts with private mobile phone operators. The state-owned enterprise is positioning itself to join the smart meter project run by the Metropolitan Electricity Authority (MEA) and Provincial Electricity Authority (PEA), by offering…

  • Economy News

    Phuket continues promotion as timeless destination to boost tourism

    Championed by the Tourism Authority of Thailand‘s (TAT) local office, Phuket is set to continue its promotion as a timeless destination, void of an official low season. Director Lertchai Wangtrakuldee confirms this strategy following the significant triumph of last year when the resort province achieved its arrival and revenue targets ahead of schedule. By the end of November, the visitor…

  • Tourism News

    Thailand’s tourism revenue surges by 44% as new year ushers in boom

    The start of the new year saw a significant boom in Thailand’s tourism sector, with a 44% spike in tourism-related revenue. The Tourism Authority of Thailand (TAT) attributes this surge to the visa-free scheme and extended entertainment hours in select provinces. Thapanee Kiatphaiboon, the Governor of TAT, revealed that the country amassed a staggering 54.4 billion baht (US$1,588,321,152) from December…

  • Thailand News

    Thai listed companies broke records by reeling in 6.21 trillion baht last year

    Thai listed companies have orchestrated a financial coup, raking in an astronomical 6.21 trillion baht from their overseas ventures last year, smashing records and defying global economic odds. The Stock Exchange of Thailand (SET) reports an eye-watering surge of 1.83 trillion baht from the previous year, making it a staggering 17-year high. Amidst the chaos of the Russia-Ukraine war and…

  • Thailand News

    Phuket paradise beckons: TAT teams up with Saudia Airlines for tourism extravaganza

    The Tourism Authority of Thailand (TAT) has joined forces with Saudia Airlines, setting their sights on a jaw-dropping target of 300,000 arrivals and a staggering 27.68 billion baht in revenue. TAT Governor Thapanee Kiatphaibool revealed ambitious plans after a high-stakes meeting in Riyadh with Saudia Airlines bigwigs. Thapanee disclosed discussions that could make this a game-changer for Saudi tourists seeking…

  • Business News

    Thailand’s tourism revenue falls short of annual target

    The Tourism Authority of Thailand (TAT) projected a shortfall in its annual tourism revenue target, with this year’s earnings expected to reach 2.07 trillion baht (US$58,773,427,200) instead of the projected 2.38 trillion baht. TAT Governor, Thapanee Kiatphaibool, attributes this shortfall to the sluggish performance of international tourism receipts, which were significantly lower than the state’s target of 1.6 trillion baht.…

  • Thailand News

    Central Thailand: Thai Revenue Department clarifies controversial Huai Khwang restaurant raid

    The Revenue Department has clarified the controversial issue involving six men, alleged to be its officials, who raided a restaurant in Huai Khwang district and seized a liquor license. The department has assured there was no ill intention behind the action and it was conducted in good faith today. Pakapoom Tantanaserikul, Secretary of the Department, acting as Deputy Spokesperson, yesterday revealed…

  • Business News

    Gulf Energy eyes 50% revenue surge with power plant operations boost

    Gulf Energy Development, a Stock Exchange of Thailand (SET)-listed firm, is looking forward to a 50% revenue surge, breaking past the 100 billion baht (US$3.03 billion) mark this year. This significant increase is due to the addition of electricity generation capacity and the full operation of its power plants. In the previous year, the company’s earnings stood at 95 billion…

  • Economy News

    Revenue target for Thai government exceeds by 150 billion baht

    Fiscal Policy Office (FPO) Director-General Pornchai Thiraveja has announced that the Thai government is rolling in cash. The director-general declared that the government’s revenue surpassed expectations, surpassing its target by 150 billion baht in the opening ten months of fiscal 2023. This continues a positive trend reported in May when revenue targets were surpassed by 112 billion baht. As per…

  • Business News

    MICE revenue in Thailand lowered amid sluggish Chinese market response

    The meetings, incentives, conventions, and exhibitions (MICE) revenue forecast for the Thailand Convention and Exhibition Bureau (TCEB) has been lowered to 96 billion baht. This is less than half the recorded figures for 2019, mainly due to a sluggish response from the Chinese market. TCEB’s president, Chiruit Isarangkun Na Ayuthaya disclosed that despite the strong comeback of MICE travellers from…

  • Business News

    Thailand’s smartphone market holds promise despite economic strain

    In these difficult financial times, Thailand’s smartphone market still carries incredible potential for device makers, particularly in high-end models, despite reduced support of handset subsidies by mobile operators, according to Oppo, a leading Chinese smartphone maker. With a market value exceeding 100 billion baht, Thailand’s smartphone market is regarded as a gem within Southeast Asia. The Senior Executive Vice-President at…

  • Thailand News

    Thai Airways anticipates 130 billion baht revenue this year

    Thailand’s flagship carrier, Thai Airways (THAI) is optimistic about its revenue this year. Thai Airways is anticipated to accumulate at least 130 billion baht in revenue this year after its net profit in the first quarter reached 12.5 billion baht. THAI CEO Chai Eamsiri announced yesterday that the airline is projected to complete its financial rehabilitation in 2025 as planned,…

  • Hot News

    Thailand expects tourism boom over October holidays

    Tourism officials say they are expecting to see more than three million travellers over this month’s two holiday periods. The four-day anniversary holiday of His Majesty King Bhumibol Adulyadej The Great’s passing started on Thursday. Both Thais and foreigners have taken off to major tourist destinations around the kingdom. The other holiday from October 22-24, is expected to also see…

  • Covid-19 News

    Pfizer sees 45% increase in net income and revenue, as critics point to disparity in global vaccine availability

    After seeing a 45% increase in net income from last year, Pfizer, the pharmaceutical giant, is largely increasing its projected profits for this year. And, the increase is undoubtedly due to the high amount of Covid-19 vaccine sales, in which the company says is shaping up to provide a “durable” revenue stream. The company says this year’s first quarter profits…

  • Thai Law News

    Australia sets worldwide precedent by passing pay‐to‐play legislation for social media giants

    In a landmark decision, Australia is now requiring global digital giants, such as Facebook and Google, to pay for using local news content on their websites. The move sets a precedent that many global companies have been anticipating. The law passed yesterday after Facebook and Google reached an agreement to pay local Australian news organisations for using their stories on…

  • Events

    Australians wake up to Facebook news blackout

    Facebook is under fire as Australians accuse the social media giant of censoring news along with emergency services in an apparent blackout. This morning, residents logged in, saying they weren’t able to post links to news articles or view the Facebook pages of any news outlets worldwide. The move that has essentially blocked Australia from being in the loop, comes…

  • Tourism News

    Phuket sees 300 million baht boost over long holiday weekend

    The Tourism Authority of Thailand says that Phuket has received a much-needed 300 million baht boost over the 4 day long weekend with around 54,000 tourists flocking to the island from last Thursday through to yesterday. Phuket Office Director Nanthasiri Ronnasiri, reports that the average expenditure per visitor was about 5,500 baht, which was higher than the average spend for…