The State Enterprise Policy Office (Sepo) is gearing up to form a specialized committee to oversee the management of state-owned securities. This move is particularly significant given that these securities encompass a staggering value exceeding 400 billion baht, including both those listed on the stock exchange and those that aren’t. It’s a strategic maneuver aimed at boosting efficiency and maximizing returns.
Tibordee Wattanakul, Sepo’s director-general, highlighted that the office currently holds an extensive portfolio of over 100 different securities. These securities have origins as varied as government policy acquisitions and transfers mandated by court orders. Historically, the process of selling these securities has been sluggish, hampered by ambiguous guidelines, especially concerning non-listed securities lacking a defined reference price.
“With this new panel, we’re looking to take a unified approach to determine the best course of action for these state-held securities,” Tibordee elaborated. “The goal is to decide whether to retain or sell them based on what’s most beneficial for the state.”
As it stands, the Finance Ministry has its hands on around 115 securities, a mix of listed and unlisted entities, not counting state enterprises. This impressive array constitutes 33 listed securities, 41 unlisted, and another 41 acquired via legal proceedings. Cumulatively, these securities are valued at nearly 400 billion baht. A lion’s share of this, totaling 340 billion baht, is parked in the Vayupak Fund, with the rest dispersed among other holdings.
It’s worth noting that these state-held securities have been a reliable source of dividends for the Finance Ministry in recent years. In 2022 alone, the ministry reaped 3.06 billion baht, followed by an even more impressive 3.35 billion baht in 2023.
Delving into specifics, let’s talk top earners. In the fiscal year 2023, the crème de la crème of dividend-paying state securities included:
- TMBThanachart Bank Plc: A hefty contribution of 602.31 million baht.
- Don Muang Tollway Plc: Generous dividends tallying up to 478.27 million baht.
- Thailand Future Fund: A solid 186.27 million baht flowing in.
- Boon Rawd Brewery Co: Serving up a cool 108.12 million baht.
- Bangchak Corporation Plc: Adding a noteworthy 98.32 million baht to the Finance Ministry’s coffers.
It’s evident that Sepo’s forward-thinking strategy in setting up a dedicated committee promises a more streamlined, efficient approach to managing state-held securities. With an eye on maximizing returns, this initiative is set to bolster the financial stability and economic health of the state.
This move by Sepo is long overdue. It’s about time they took a more hands-on approach to managing these securities.
Absolutely, better late than never. But why wasn’t this done earlier? It seems like an obvious move.
Maybe it’s due to previous lack of expertise or simply bureaucratic red tape.
I think it’s more about political will and less about capability.
I wonder how this will affect the overall economy. Could there be unintended consequences?
There’s always a risk of unintended consequences, but the potential benefits far outweigh the negatives. More efficient management can only help.
Unintended consequences? Like what? I think this can only be a positive step forward for the Thai economy.
Well, there’s the possibility of market instability if a lot of non-listed securities are suddenly sold off.
Market instability is a valid concern, but that’s why a specialized committee is essential. They’ll hopefully mitigate such risks.
This sounds like a plan devised to favor certain companies and investors. I wouldn’t be surprised if there’s some insider trading involved.
That’s a bit cynical, don’t you think? Not every government move is driven by corruption.
Given past scandals, I think it’s a healthy dose of skepticism.
Skepticism is good, but let’s see some evidence before jumping to conclusions. There’s a lot at stake here.
The dividends reaped from these securities are quite impressive. It shows that these assets have been beneficial despite the previous poor management.
It’ll be interesting to see if they incorporate any tech-based solutions to manage this portfolio more efficiently.
I hope the new panel will consider environmental, social, and governance factors in their decisions. It’s not just about maximizing profits.
That’s unrealistic. Their primary task should be about maximizing returns for the state. Everything else is secondary.
Short-sighted much? Focusing only on profits can hurt the society and environment in the long run.
Exactly! Sustainable development should be at the forefront of any long-term strategy.
I’m curious about the criteria they’ll use to decide whether to sell or hold onto these securities.
Hopefully, they’ll take a nuanced approach and not just focus on short-term gains.
Short-term gains could boost the economy faster though, which might be what they need right now.
But isn’t stability more important than short-term gains? It’s a balance they need to strike.
Let’s not forget the potential for corruption. How transparent will this new committee be? Transparency is key.
Transparency has always been an issue in such matters. I’ll believe it when I see it.
This could be a model for other countries with large portfolios of state-owned assets. If it works, Thailand sets a precedent.
I think focusing on listed securities first makes the most sense. Non-listed ones can be trickier to value properly.
But if they neglect non-listed securities, they might miss out on some hidden gems.
The Vayupak Fund seems to be handling it well. Maybe they should expand their strategy to the rest of the securities.
The whole initiative seems overambitious. A smaller pilot project would have been more prudent.