Pongsapun Amorwiwattana, Chief Executive Officer and Managing Director of Thai Oil Public Company Limited (TOP), announced that the company posted net profit of 19.481 billion baht for the first quarter of 2025. Of this, 85% or 16.746 billion baht came from net gains on oil inventory valuations, with an additional 2.436 billion baht in gains from debt repurchases. "Despite strong operating profits, the company recognized 6.628 billion baht in other expenses and losses," Amorwiwattana stated. "When these are excluded, the group's underlying net operating profit stands at 6.927 billion baht, with refining business net profit of 4.136 baht per liter."

The executive cautioned that these oil stock gains are temporary and could reverse into losses if oil prices decline as geopolitical tensions ease. The company had secured crude oil supplies one to two months in advance during the period of heightened conflict, meaning Q1 accounting costs do not fully reflect the impact of price volatility.

Refining margins including oil stock gains reached 7.6 baht per liter in Q1, but are expected to gradually decline to 2.6 baht per liter in Q2, turn negative at minus 2.3 baht per liter in Q3, and flatten to near zero in Q4. The company forecasts full-year 2025 refining margins of around 2.0 baht per liter.

For Q2 outlook, the company expects continued market volatility and anticipates recognizing oil inventory losses starting from Q2 onwards, as the crude purchased during March-April's crisis period becomes reflected in production costs. However, should geopolitical tensions resolve, crude prices would fall and create downstream losses from high-cost inventory.

Regarding government fuel price reductions of 2-5 baht per liter between April 9 and May 19, the company views this as a short-term measure. Any further price reductions would require careful consideration, and negotiations over recovering previously reduced refining margins remain ongoing.

On May 11, 2025, the Securities and Exchange Commission (SEC) opened a public hearing on proposed enhancements to takeover acquisition guidelines to improve clarity and alignment with current market conditions. The revisions are designed to give shareholders and investors more adequate information for decision-making while reducing regulatory burdens and obstacles for private enterprises.

The SEC is currently refining guidelines on mandatory takeover bids when acquiring company shares directly or controlling entities under Section 258, exemptions from general takeover obligations, bid pricing determinations, bidder obligations and conditions, and partial tender offers. The SEC has already solicited public comments on these core principles.

During the refinement process, the SEC identified areas that lacked clarity and could affect practical application. The Capital Market Supervisory Board has approved these additional improvements, and the SEC now invites further public input to ensure the guidelines are comprehensive, current, and support better investor decision-making while easing private sector compliance.

Key improvements include: (1) Requiring Form 247-3 disclosures for conditional public announcements of takeover intentions, with updates to provide companies, shareholders, and investors formal reports on binding conditions before tender offers, while exempting Form 247-3 for delisting tender offers to reduce private sector burden; (2) Clarifying conditions for partial tender offer exemptions regarding share calculations for convertible securities and shareholder vote counting; and (3) Setting 7-business-day deadlines to reduce shareholding proportions and 3-business-day reporting deadlines for Form 246-2 in takeover exemption cases.

Documentation for public comment is available on the SEC website at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=1160 and the central legal system at https://law.go.th/listening.

Former Police Officer Shot Dead in Mango Orchard; Dispute Over Garden Access Suspected as Motive. At 10:30 AM on May 11, Col. Pin Inmak, Lan Saka Police Station commander, received a report of a body in a mango orchard in Moo 12, Tambon Kamloan, Lan Saka District, Nakhon Si Thammarat Province. He rushed to the scene with Deputy Commander Pol. Capt. Athip Nakamani, hospital medical personnel, and rescue workers from Sawang Tham Kiri. The incident occurred on a mountainous terrain requiring a six-kilometer hike, and heavy rain throughout the day made the journey extremely difficult. Upon arrival, authorities found the deceased lying beneath a mango tree. The victim was identified as former Sergeant Major Surachet, 38 years old, with three to four gunshot wounds to the torso from a 9mm weapon. An M16 rifle was found next to the body, presumed to be his. Subsequently, Deputy Regional Commander Pol. Col. Natsavut Thongtip and provincial investigation teams arrived at the scene. Initial findings indicate the deceased was a former police officer who had worked in Thailand's southern border region but had retired and established an orchard at his residence in Lan Saka. He was the grandson of the subdistrict headman of Kamloan. Following his retirement, the victim remained isolated on the mountain, rarely descending to the village. Preliminary investigation suggests the motive stems from an agricultural dispute involving conflicting access routes to the orchard. Investigators are currently tracking down persons of interest who had conflicts with the victim for further questioning.

Thailand is rallying ASEAN nations to tackle the Middle East crisis, emphasizing cooperation in energy, food security, and supply chains to strengthen regional trade and establish ASEAN as a stable region in a volatile world. Thailand's Commerce Ministry joined a special meeting with ASEAN economic ministers to address economic impacts from the Strait of Hormuz situation, agreeing on joint energy cooperation, cross-border electricity linkages, and joint oil reserves. The group also committed to leveraging emergency rice reserves and maintaining open markets while pushing for ASEAN to become a secure haven amid global instability.

Deputy Commerce Minister Kireeya Phaophichit revealed that she attended a special ASEAN Economic Ministers Council meeting on April 30, 2025, alongside representatives from all 10 ASEAN member states. The meeting issued a joint statement addressing regional economic impacts from the Strait of Hormuz crisis, emphasizing cooperation on food and energy security to counteract rising energy costs affecting agriculture, particularly fertilizer prices and production risks.

The group will leverage regional mechanisms including APTERR (ASEAN Plus Three Emergency Rice Reserve) and AFSIS (ASEAN Food Security Information System) to strengthen reserves and monitoring systems, while promoting sustainable agriculture for long-term resilience. ASEAN will also explore joint regional energy reserves, accelerate energy source diversification, and strengthen energy infrastructure connectivity through projects like the ASEAN Power Grid (APG) and the ASEAN Gas Pipeline Network (TAGP), aligned with frameworks including APSA (ASEAN Petroleum Security Agreement) and APAEC (ASEAN Plan of Action for Energy) 2025-2029.

Thailand proposed elevating ASEAN's role to become a "region with a stable and reliable economy" globally, maintaining open trade systems, adhering to international rules, and avoiding unnecessary trade barriers. Member states will deepen intra-regional economic connectivity by expediting enforcement of pending economic agreements, reducing trade barriers, and ensuring continuous flow of essential goods. Efforts will also focus on diversifying trading partners and completing negotiations on the ASEAN Digital Economy Framework Agreement (DEFA) this year to unlock new trade opportunities, with recommendations to be presented at the ASEAN leaders' summit in May.

Brazilian striker Dennis Murillo of Nakhon Ratchasima FC has posted an emotional goodbye to the fans of Nakhon Ratchasima following his inability to help the team avoid relegation from Thailand's top division.

Dennis Murillo played in almost every match this season for Nakhon Ratchasima FC except when injured, but ultimately the club could not escape relegation, finishing 15th in the standings and starting fresh in Thai League 2 next season. The talented striker shared his message with Korat fans, saying:

"First of all, I sincerely apologize to all Nakhon Ratchasima fans."

"I know well that in football, players and staff come and go, but what always remains is this club and all the fans."

"Throughout the 4 years and 3 seasons I spent with Nakhon Ratchasima, I built a very special bond with this club, including everyone working behind the scenes. We became like one family, and the fans are part of this family too."

"Here, there were beautiful moments, important goals, victories, and countless memories I will never forget."

"But yesterday, I felt the same as every fan—heartbroken seeing the team we love get relegated. I'm deeply disappointed and sorry that I couldn't help keep the club in Thai League."

"From my heart, I want everyone to know that I tried my absolute best every day, in training, in every match, and every moment wearing this shirt. But in the end, it wasn't enough."

"So I sincerely apologize again."

"But I still believe Nakhon Ratchasima will return to Thai League again, because I know the strength of this club and its fans."

"Whatever my future holds, Nakhon Ratchasima will always be in my heart. And wherever I am, I will always be a fan of this club forever."

"Finally, I want to thank everyone at the club, including all the fans. Thank you for making me part of this family. It has been an honor and great joy to work with all of you over these years."

"I hope what people remember about me is the moments of happiness, the goals, and the good memories we created together.

74 matches in this shirt 33 goals 7 assists

All of this will stay in my heart forever."

"I love you all and apologize again."

PHUKET — 11 May 2026, Authorities have increased patrols at Kata Beach after foreign tourists were reportedly seen spearfishing protected parrotfish and handling starfish in a marine conservation area.

Officials from the Department of Marine and Coastal Resources, led by Naret Chuphueng, along with Phuket Marine Police Division 8, Phuket Tourist Police Division 2, forestry police and Karon municipality inspected the area near Kata Beach on the evening of 10 May following the circulation of social media videos showing foreign tourists diving and spearing parrotfish near Phuket Ska Bar.

The tourists had reportedly brought the fish onto the beach, attracting crowds of onlookers who photographed the incident. Videos also showed starfish being removed from the water and handled by visitors.

Authorities said no suspects were found during the inspection.

A local business owner told officials that on 9 May at around 20:00, a group of unidentified Chinese tourists were seen spearfishing among rocks off the southern end of Kata Beach before bringing parrotfish ashore. The owner said attempts had been made to stop the group, but they ignored warnings. He urged authorities to install information signs and increase monitoring in the area, which is popular for marine activities.

Karon municipality said warning signs would be installed along the beachfront and municipal officers would conduct more regular inspections. Police in Karon district also pledged to increase patrols.

Officials additionally warned businesses, residents and tourists that parrotfish are protected under Phuket environmental protection regulations introduced in 2024. The species, listed under the Scaridae family, is prohibited from being caught or possessed.

Violators face penalties under the Enhancement and Conservation of National Environmental Quality Act, including up to one year in prison, a fine of up to 100,000 baht, or both.

Authorities urged the public to report illegal fishing or possession of protected marine species through the marine protection hotline 1362.