The State Enterprise Policy Office (Sepo) is taking robust steps to optimize its portfolio of state-owned securities, both listed and unlisted, boasting a staggering collective value of over 400 billion baht. Under the astute leadership of Tibordee Wattanakul, Sepo’s director-general, the office is poised to form a dedicated committee tasked with the efficient management of these assets.
Currently, Sepo oversees more than 100 diverse securities. These assets have a heterogeneous origin, with some acquired through former government strategies and others obtained via legal channels, having been awarded to the state by court rulings. Historically, the disposal of these securities has been sluggish, primarily due to ambiguous protocols, particularly for non-listed assets that lack a market reference price. The new panel’s mission is to devise a cohesive strategy for managing state-held securities, weighing the options of retention versus liquidation, all with the overarching goal of maximizing public benefits.
At present, the Finance Ministry’s portfolio includes approximately 115 securities, encompassing both listed and unlisted stocks on the exchange, yet excluding state enterprises. Specifically, this assemblage comprises 33 listed securities, 41 unlisted securities, and 41 assets procured through judicial proceedings, cumulatively valued at nearly 400 billion baht. A substantial portion of this, 340 billion baht, is vested in the Vayupak Fund, with the remaining balance allocated across various other securities.
Interestingly, these state-held securities have proven to be lucrative, consistently generating dividends for the Finance Ministry over recent years. In the year 2022, the dividends amassed amounted to 3.06 billion baht, escalating to 3.35 billion baht in 2023.
Diving deeper into the fiscal yields, the top five dividend-generating state securities for the fiscal year 2023 are quite noteworthy. Topping the list, TMBThanachart Bank Plc delivered an impressive 602.31 million baht, followed by Don Muang Tollway Plc with 478.27 million baht. The Thailand Future Fund contributed 186.27 million baht, while the iconic Boon Rawd Brewery Co and Bangchak Corporation Plc added 108.12 million baht and 98.32 million baht, respectively.
These figures not only underscore the financial acumen in managing state-held assets but also illuminate the pivotal role these securities play in bolstering the national treasury. The formation of this new committee thus marks a strategic move towards more structured, transparent, and profitable management of these assets. It is a step that aims to refine and fine-tune the approach towards the monetization or strategic retention of the state’s securities, ensuring their utmost efficiency and benefit to the public coffers.
Indeed, the journey forward promises to be one of meticulous planning, dynamic strategies, and, undoubtedly, enhanced returns on these state-owned assets.
Tibordee Wattanakul’s leadership sounds promising, but why has it taken so long to optimize these assets?!
Good point! Bureaucratic red tape often slows down processes. Hopefully, this new committee can cut through that.
True, but how confident are we that this committee will deliver results? Feels like another layer of bureaucracy.
Comprehensive asset management takes time, especially with state-held assets. Let’s wait and see their strategy before passing judgment.
Instead of retaining these assets, why not liquidate and reinvest in more lucrative ventures?
Liquidation isn’t always the answer. These securities reliably generate dividends! Imagine the public backlash if they sold off stable, income-producing assets.
Fair, but wouldn’t reinvestment potentially offer higher returns? We need to think long-term.
The top dividend contributors are impressive. Especially TMBThanachart Bank Plc! Their 602.31 million baht return is quite the achievement.
Certainly, but we should also consider the volatility and future prospects of these companies. Some revenue streams may dry up.
Predicting company futures is always speculative. Diversification in portfolios generally balances out risks and rewards.
Isn’t state ownership of businesses a conflict of interest? Governments should regulate, not participate in business.
Agreed! The state’s dual role as regulator and player can be problematic and lead to unfair advantages.
It’s not always a conflict. Some level of state-owned enterprises are common worldwide and can be beneficial to the national economy.
Beneficial or not, transparency is key. We must ensure fair play in the market.
Great, another committee. I’ll believe it’s effective when I see actual improvements in asset management.
Cynicism is warranted, but we need to give them a chance. If Tibordee Wattanakul delivers, it could shift public trust in government asset management.
Why isn’t Thailand investing more into cryptocurrencies? That’s where the future is!
Crypto is volatile and isn’t suitable for stable, long-term investments that a government typically holds.
Volatility can mean higher returns! Governments need to catch up and embrace the future of finance.
Higher risk isn’t always favorable for public funds. There must be a balance between security and potential profits.
How transparent will the committee be? Citizens have the right to know how these assets are managed.
The article lacks specifics on transparency measures. It’s crucial for maintaining public trust.
Seeing returns rise from 3.06 billion baht in 2022 to 3.35 billion baht in 2023 is encouraging. Stability in dividends speaks to effective management already.
Totally agree! Consistent dividends are a good sign, but let’s see if they can keep up the pace in coming years.
The balance of listed to unlisted securities raises an interesting question about liquidity versus control. A diversified approach is essential.
It’s baffling that there wasn’t a cohesive strategy earlier! How were these decisions managed before?
These initiatives could lead to more efficient public investments, but it highly depends on the execution.
For real impact, the committee should also focus on the long-term sustainability and environmental impact of these investments.
I wonder if there are international models that Thailand could follow for better results.
Sure, the future fund sounds good, but how transparent are they about where the money is going?
That’s a valid concern. Transparency is vital for public confidence in these investments.
It’s fascinating how different countries handle state-owned assets. Thailand’s approach seems both innovative and risky.
Can we really expect efficient asset management from a government entity? Skeptical about their ability to optimize a 400 billion-baht portfolio.
Government entities can be efficient, but it often depends on leadership and the systems in place.
Fair point, but historically, haven’t many government asset management strategies fallen short?
Here’s to hoping that the committee actually delivers results and isn’t just a public relations move.