Page 170 - Thailand Post Annual Report 2024

Part 1
Overview of the Organization
Part 2
Business Trends
Part 3
Business Model
Part 4
Strategies and Resource Allocation
Part 5
Risk
Part 6
Corporate Governance
Part 7
Operating Results
Part 8
Other Information
1.
Notes to the Financial Statements
Thailand Post Company Limited and Subsidiaries For the Year ended December 31, 2024
General information and operations of the company
Thailand Post Company Limited (the “Company”) was incorporated and domiciled in Thailand. The registered address of the Company is at 111, Chaeng Watthana Road, Thung Song Hong Sub-district, Lak Si District, Bangkok, 10210 - 0299. The Company accepted the transfer of all businesses, rights, debts, liabilities, assets, funds, and employees as well as authorities and privileges previously granted to postal business of the Communications Authority of Thailand (CAT) in accordance with the State Enterprise Capital Act, B.E. 2542 (1999). The Company is in full compliance with rules, regulations, requirements, and resolutions of the Cabinet applying to the state enterprises in general.
The Company primarily engages in all kinds of postal business as well as related or similar businesses and affairs which are beneficial to postal business domestically, internationally and outside the country. For this purpose, the postal business shall include :
a) Postal services mean the services of acceptance of messages, documents and articles from one person and delivery
to another person, whether in the country or abroad, by post or other communication methods, including related
and similar services.
b) Financial services are the services of acceptance of money or payment from a customer at a post office for payment
to another recipient or organization which has entered into an agreement with the Company, at a destination post
office, by post or other communication methods determined by the Company.
c) Postage stamp collection means collection of used or mint postage stamps and other articles relating to
the postage stamps.
d) Postal goods are materials and equipment sold by the Company to facilitate the customers’ use of postal services.
The Company’s major shareholder and the Company’s top shareholder is Ministry of Finance, holding 100% of the Company’s shares.
Details of group of companies’ subsidiaries as at 31 December 2024 and 2023 are as follows.
Subsidiary
Nature of business
Country of registration
Percentage of shareholdings (%)
As at December 31, 2024
As at December 31, 2023
A Subsidiary held directly by
the Company
ThailandPost Distribution Co., Ltd.
Thailand
Manage the transport routes, addressing, packaging, storage and distribution of goods as well as provide other supplementary services.
100
100
The Company has significant transaction and relationship with related business. Accordingly, these financial statements may not reflect potential condition or contingent operation in the event that the Company has performed operation without such relationship.
168
Thailand Post Company Limited