EGCO Group reported first quarter 2025 net profit of 875 million baht, up 349% from the previous quarter, with major support from outstanding performance at power plants in the United States and South Korea, reflecting high electricity demand in both countries driven by technology and data center sector expansion. The company is pursuing continuous strategic investments through asset recycling and M&A in electricity businesses, including high-quality natural gas power plants and renewable energy facilities both domestically and abroad, to generate rapid revenue growth.

EGCO Group Chief Executive Thawatchai Samranwanich stated that first quarter 2025 results demonstrate strong resilience in adapting to changing conditions and efficient asset management capabilities amid a volatile environment influenced by global economic factors, geopolitics, and energy costs. The company successfully revived performance growth from the previous quarter, supported by multiple large power plants internationally and disciplined cost and portfolio management under the "POWER4" strategy and "ONE EGCO ONE GOAL" vision aimed at sustainable and balanced growth.

Total revenue reached 9,509 million baht, up 8% from the prior quarter, with operating profit of 970 million baht, up 966%, and net profit of 875 million baht, up 349%. Key profit drivers include outstanding electricity sales growth from the Linden Cogen natural gas power plant and Compass power plant group in the United States due to data center and AI industry expansion, continuous electricity sales increases from Paju ES power plant in South Korea supporting the semiconductor industry, and improved operations at BLCP power plant in Thailand from lower fuel costs.

As of March 31, 2025, EGCO Group maintains total assets of 225,678 million baht, up 2% from year-end 2024, with shareholders' equity of 102,456 million baht, also up 2%, and cash reserves of 28,943 million baht supporting financial flexibility and future investment opportunities. The company aims to actively manage its portfolio and pursue electricity and energy business investments for sustained long-term growth, with highlights including significant progress on 11 renewable energy projects under the RE Big Lot Round 2 initiative totaling 448 megawatts, with three power purchase agreements already signed and more expected to be finalized soon.

In an extraordinary rescue story on May 18, a 50-year-old Australian man was found after being lost for more than a week in the mountains near Taitung, eastern Taiwan. Rescuers were guided to his location by the sound of a saxophone he was playing while trapped in the forest. Matthew, as he requested to be called, was rescued on May 15 after days stranded without food, proper hiking boots, or communication equipment. He survived by drinking rainwater and sheltering in a cave to escape the cold weather. The Taitung Fire Department received a missing person report on May 11 and deployed multiple search teams using drones. Officials located Matthew the following day but heavy rainfall and dangerous terrain prevented immediate access, so they used drones to deliver food while waiting for rescue teams to reach him on foot. Matthew told local media he had ventured into the forest after arguing with his wife, saying "This is a miracle. Thank you Taiwan." He has since reunited with his wife and confirmed he will never disappear into the mountains again.

Sources within Thailand's National Broadcasting and Telecommunications Commission (NBTC) report that no formal decision has been reached on whether to purchase 2026 World Cup broadcasting rights after the agent maintained the asking price of 1.3 billion baht, with officials deeming it uneconomical and signaling that private companies are welcome to pursue the rights themselves.

The NBTC sources revealed that the agency is still evaluating the value proposition comprehensively, including the license fee, broadcast conditions, match timing, advertising revenue potential, and whether the budget allocation serves the public interest. Thailand's negotiating position has been anchored around 600 million baht, the budget level the NBTC previously supported for World Cup broadcasts, which has served as the baseline for negotiations with the rights holder.

However, negotiations have stalled because the rights holder's expectations, conveyed through its agent, remain significantly higher than Thailand's ceiling—with the agent insisting the price cannot go below 1.3 billion baht. Officials stressed that the core issue is not a lack of interest in World Cup coverage, but rather whether the expenditure justifies the returns. The 2026 tournament spans only about one month, yet the licensing fees are exceptionally high. Additionally, the government has consulted with sports associations and related football organizations, some of which suggest that if such substantial budgets must be spent, the funds might better serve the public through other initiatives.

Another complicating factor is that the 2026 World Cup, being held in the United States, Canada, and Mexico, presents timing challenges for Thai viewers, with matches starting as early as 3 a.m. and ending around 10 a.m. Thai time. This unfavorable schedule may dampen viewer engagement compared to tournaments held in Europe or Asia, and local businesses traditionally benefiting from World Cup events—such as restaurants, entertainment venues, and viewing parties—may struggle to capitalize fully. However, if private sector evaluations show the investment worthwhile and they wish to pool resources to purchase the rights, they are free to proceed.

Commercial advertising and revenue opportunities also face headwinds due to the inconvenient broadcast times limiting broad audience reach, resulting in weak private sector interest in co-funding the license purchase, particularly when return-on-investment calculations suggest advertising revenue recovery may fall short of licensing costs.

On May 18, 2025, Surapong Intharawat, Secretary-General of the National Anti-Corruption Commission (NACC), announced that the NACC has found Wuthi Hengwattana, former head of Bangkok's Civil Works Division, guilty of unusual wealth accumulation totaling 8,032,103 baht.

Investigations revealed that during his tenure as Civil Works Division head for Bangkok from 2009 to 2018, Wuthi accumulated assets in his name, his spouse's name, and his children's names totaling 8,032,103 baht without being able to prove or explain their source. These assets include:

1. Bank deposits in his spouse's accounts across three accounts totaling 1,360,000 baht 2. Land and buildings located in Min Buri District, Bangkok, registered jointly under his spouse's and children's names, valued at 5,382,967 baht 3. One Toyota Fortuner vehicle registered in Wuthi's name, valued at 1,289,136 baht

The NACC determined that Wuthi possessed unusually excessive wealth and referred the case to the Office of the Attorney General to file a petition with the court for asset forfeiture to the state. The NACC also recommended that Wuthi's employer impose dismissal as disciplinary action, citing corrupt practices under the 2018 Anti-Corruption Act, Section 122. If full asset seizure cannot be enforced, the court is authorized to enforce seizure against his other assets within a ten-year period under Section 125 of the Anti-Corruption Act.

Industry Minister Weerawut Silpaascha announced a major victory for Thailand's sugarcane and sugar industry in the 2568/2569 production season, successfully reducing burned sugarcane to just 3.8%—a historic low compared to the previous 60-70% burning rates. This represents a crucial turning point for Thai agriculture and industry in combating PM 2.5 dust pollution and climate change.

"This is not just a number, but evidence that Thailand can develop its economy while protecting the environment," Weerawut stated. "We achieved this through the coordinated efforts of three sectors: the government, 58 sugar mills, and approximately 1.5 million sugarcane farmers nationwide who have collectively transitioned from burning sugarcane to quality fresh cane systems."

This collaboration has dramatically reduced burned sugarcane while improving cane quality and production efficiency. Average sugar yield per ton of cane increased from 109.51 kilograms to 113.55 kilograms, demonstrating that fresh cane provides superior economic returns compared to burned cane.

Weerawut announced new targets for the next production season: reducing burned sugarcane to below 3% and eventually reaching zero percent through a full Zero Burn initiative. The ministry will simultaneously develop a "Green Value Chain" connecting green sugarcane to green sugar, bioindustry, biomass energy, and carbon credit markets, aiming to transform Thailand's sugarcane industry into a fully green economy.

Supporting measures for farmers and sugar mills include low-interest loans, agricultural machinery, investment promotion incentives (BOI), and carbon credit trading mechanisms to generate new income streams and enhance Thailand's sugar competitiveness in global markets.

"Thai sugar no longer sells just sweetness, but responsibility to the world," Weerawut emphasized. "We must position Thai sugar as 'green sugar' produced from fresh cane that is environmentally friendly and meets international trade standards."

Thailand ranks as the world's second-largest sugar exporter after Brazil, and this success in reducing burned sugarcane is viewed as a potential model for other Thai agricultural and industrial sectors to adopt green economy practices.

Deputy Industry Minister Nattapol Rangsitpol attributed the achievement to multiple proactive measures, including requiring sugar mills to accept fresh cane from day one, daily limits on burned cane intake, cessation of burned cane acceptance during New Year periods, and machinery credit support programs with low interest rates.

Secretary-General of the Sugar and Sugarcane Committee Bai Noi Suwannchart noted plans to implement modern technology throughout the system and introduce new business models, while accelerating value creation from agricultural residues through innovations such as wood pellet production.