THAILAND
As of May 14, 2018, the Thailand Tobacco Monopoly (TTM) was corporatized as the Tobacco Authority of Thailand (TAOT), according to the Tobacco Authority of Thailand Act 2018 announced in the Royal Thai Government Gazette.
TAOT will conduct business related to tobacco cigarettes and tobacco leaf or other plant products used in cigarette production both domestically and internationally; produce cigarettes for export; conduct business related to machinery involved in the production of cigarettes, tobacco leaf, or other plant products used in cigarette production; conduct research controlling and improving tobacco production quality and standards to be in line with industry developments; and cooperate with governmental agencies to combat illicit trade of tobacco or other plant products.
The act also allows TAOT to set up limited companies or public companies related to TAOT’s business. These companies are allowed to have foreign shareholders hold up to 49% of the total company shares. TAOT can also hold shares in other companies if relevant to TAOT’s business.