Committee to set up for overseeing performance of state-owned securities

The proposal for setting up the State Securities Management Committee will soon be submitted for policy approval. 

SEPO director Tibordee Wattanakul said that the purpose of this committee was to focus on maximising benefits for the state.

Currently, the Ministry of Finance holds 115 securities, both listed and unlisted on the stock exchange, excluding state enterprises. 

The total value of the 33 securities listed on the stock exchange,
41 unlisted, and 41 securities acquired by legal action – are valued at nearly 400 billion baht. Of this amount, 340 billion baht is from the Vayupak Fund, with the remainder being other securities.

Despite the current shortfall in government revenue collection, the SEPO is maintaining its target for state enterprises to contribute revenue to the treasury, says the SEPO chief. The revenue contribution has reached 112 billion baht, against the target of 175 billion baht for the fiscal year.

"The SEPO has not yet received any directive to sell off any specific securities," Tibordee said. 

The Vayupak Fund, which makes up the bulk of the securities, is managed by MFC Asset Management and Krungthai Asset Management Pcl.

Regarding the valuation of state-held securities over the past three fiscal years (2021-2023), the value of 109 securities (excluding state enterprises) has shown an upward trend, increasing in value from 348.241 billion baht at the end of fiscal year (FY) 2021 to 366.303 billion baht at the end of fiscal 2022, and to 376.997 billion baht at the end of FY2023, representing a total increase of more than 8.3%.

As of the end of fiscal 2023, the value of securities held by the Vayupak Fund stood at 341.693 billion baht. The fund's valuation fluctuated during the Covid-19 pandemic, but has risen consistently from 247.615 billion baht in FY2020 to 331.254 billion baht in FY2021; 315.490 billion baht in FY2022 and 330.736 billion baht in FY2023

At the end of December 2023, the value stood at 341.693 billion baht.

Additionally, the Finance Ministry received dividends from state-held securities (excluding state enterprises) amounting to 3.064 billion baht in FY2022, and 3.351 billion baht in FY2023.

The top five dividend-paying state-held securities in FY2023 were:
● TMBThanachart Bank Pcl - 602.31 million baht
● Don Muang Tollway Pcl - 478.27 million baht
● Thailand Future Fund - 186.27 million baht
● Boon Rawd Brewery Co Ltd - 108.12 million baht
● Bangchak Corporation Pcl - 98.32 million baht