THAILANDSICThailand Standard Industrial Classification

TSIC Activity

46611

Wholesale of solid fuels

ประกอบกิจการค้า น้ำมันเชื้อเพลิง ถ่านหิน ผลิตภัณฑ์อย่างอื่นที่ก่อให้เกิดพลังงาน และสถานีบริการน้ำมันเชื้อเพลิง

What this activity covers

This activity involves the wholesale distribution of solid fuels like charcoal, coal, and wood fuels.

  • Wholesale of charcoal
  • Wholesale of coal
  • Wholesale of coke
  • Wholesale of wood fuels
  • Wholesale of firewood

What companies here also do

Seen in real company registrations under this code — beyond the official definition, so licensing may differ.

  • Manufacturing solid fuels — Includes production of biomass and wood products
  • Exporting fuel pellets — Involves international trade of biomass fuel pellets
  • Brokerage for coal sales — Acting as agents for coal transactions

Foreign ownership

List 3: Restricted, FBL/BOI route availableinherited from 46

Wholesale of goods of all kinds, where the minimum capital per store is below the level prescribed in the Act

Not a hard restriction — only applies while under-capitalised. A foreign-majority wholesaler is exempt from this List 3 item (no Foreign Business Licence needed) once minimum registered capital reaches the Act's threshold, typically THB 100 million per store. Verify current ministerial-regulation figures.

FBA B.E. 2542, List 3 (15)Routes: Foreign Business Licence, BOI promotion, US Treaty of Amity

Auto-mapped, verify against the Act. These TSIC mappings are indicative, not legal advice; the schedules of the Foreign Business Act B.E. 2542 are the authority. See the full foreign ownership reference.

Industry at a glance

as of 23 ก.ค. 69

The whole registered industry under this activity, every registration year, from the DBD DataWarehouse.

398
active companies operate here
฿88.1Bregistered capital, combined
฿185.8B
Sector revenue · 2025
+72% since 2023
฿-7466812039
Net profit · 2025
171 profitable
202320242025

net profitrevenue

Foreign investment

new registrations · 2026 YTD
22%of new registered capital is foreign-held
฿5.0M foreign฿17.6M Thai

Foreigners are actively investing in this activity.

New in 2026

18+157.1%

registrations, YTD

Registered capital

฿88.1B-0.1%

since year-end

Largest by revenue

Latest filed-year revenue, not a multi-year total

  1. 1Star Fuels Marketing Co., Ltd.฿135.9B
  2. 2Asia Green Energy Public Company Limited฿9.7B
  3. 3Banpu Public Company Limited฿8.1B
  4. 4Sing Heng Seng Co., Ltd.฿5.0B
  5. 5Banpu Mineral Co., Ltd.฿5.0B

Largest by registered capital

  1. 1Banpu Mineral Co., Ltd.Bangkok฿61.2B
  2. 2Banpu Public Company LimitedBangkok฿10.0B
  3. 3Star Fuels Marketing Co., Ltd.Bangkok฿6.4B

Source: Department of Business Development DataWarehouse. Financial figures are combined totals of companies that filed statements; revenue and profit shown for the latest three reporting years.

Companies registered since 2022

Browse all

New DBD registrations under this activity since 2022, the period the registry snapshot covers, not the full historical register.

114
Registered
since 2022
104
Still active
10
Dissolved
฿1.0M
Median capital
of active

New registrations per year

2022peak 42 in 20222026

Largest active companies by registered capital

Source: Department of Business Development (DBD) new-registration records, 2022 to present. Counts cover companies first registered in that window, reflect the latest snapshot load, and may lag the live register.

Emerhub

Restricted activity? There is usually a route.

Emerhub structures foreign-owned companies around FBA restrictions: Foreign Business Licence applications, BOI promotion, and compliant shareholding structures. Talk through your case before you commit to one.

Talk to Emerhub Thailand