It was previously known as the Thailand Tobacco Monopoly (TTM), and operated as a non-juristic state enterprise under the Ministry of Finance until 14 May 2018 when it was corporatized as a juristic organization and assumed its new name.

[5] TTM was a top financial contributor to the Thai treasury and has contributed funds to local administrative organisations as well as purchasing product at above market rates from 15,000 tobacco farming households nationwide who collectively farm 80,000-90,000 rai.

TTM's brands are Krongthip, Wonder, Falling Rain 90, Goal, LINE, Royal 90, Samit 90, SMS, and Gold City 90.

[9] For 2018 TTM expects to earn below 70 billion due to projected market share losses.

[6] The acting chairman of TTM is Mr. Amnuay Preemanawong, who is also the Inspector General of the Ministry of Finance.

TTM is unable to lower its prices due to the high cost of Thai tobacco, 22 baht per kilogramme, which is higher than the world market price, and it high costs of manufacturing and overhead.

[12] In August 2010, three major US tobacco merchants pleaded guilty to charges relating to the payment of bribes to officials of TTM.

According to US court documents, from 2000 to 2004, subsidiaries of Dimon Inc., Standard Commercial Corp., and Universal Corp., sold Brazilian-grown tobacco to TTM.

Universal admitted that its subsidiary in Brazil paid approximately US$697,000 in kickbacks to TTM officials over the period.

[15] In May 2005 Dimon Inc. and Standard Commercial Corp. merged to form Alliance One International, a leading independent leaf tobacco merchant serving the world's largest cigarette manufacturers.