Lottery operator smashes revenue target

Lottery operator smashes revenue target

Revenue collection among state-owned enterprises (SOEs) in the first 10 months of fiscal 2018 totalled 146 billion baht, with the Government Lottery Office (GLO) topping the chart with a 33-billion-baht contribution.

The GLO's revenue collection was 21% higher than the target of 25.2 billion baht, while overall SOE revenue in the first 10 months was higher than the full-year target of 137 billion, said Prapas Kong-Ied, director-general of the State Enterprise Policy Office (Sepo).

Fiscal 2018 runs from October 2017 to September 2018.

Revenue is collected from 56 SOEs and companies in which the Finance Ministry owns less than a 50% stake.

Higher-than-expected revenue collection in the first 10 months was mainly due to how overall earnings among SOEs improved, said Sepo spokesman Chanvit Nakburee.

The top five SOEs contributing the largest portion of revenue collection in the first 10 months were the GLO, the Electricity Generating Authority of Thailand, PTT Plc, Government Savings Bank, and the Provincial Electricity Authority, Mr Chanvit said.

The five SOEs make up 69% of total revenue collection, he said.

According to Mr Chanvit, Sepo has a policy for SOEs to use innovation and technology to drive their organisations forward, in line with the government's Thailand 4.0 policy.

Incorporating technological advancements also enhances overall SOE earnings, he said, adding that revenue collection among SOEs is essential to the government's revenue stability in 2018.


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