Finance Ministry considers sale of some shares to raise funds for govt
The Finance Ministry is looking at the sale of some of its company shares in order to help fund the government’s policies to stimulate the Thai economy.
Prime Minister Paetongtarn Shinawatra announced her government's policies to Parliament on September 12, aiming to pull Thailand out of the middle-income trap and raise its profile in the global economy.
Some urgent policies, such as debt restructuring, energy and utility price reduction, require a large budget.
The Finance Ministry recently set up an advisory committee chaired by State Enterprise Policy Office director-general Tibordee Wattanakul on selling its shares.
The move is in line with the ministry’s belief that it does not have to hold stakes in some companies.
The committee held a meeting in July this year to consider selling the ministry’s shares that have not been listed on the Stock Exchange of Thailand.
Tibordee pointed out that some stocks did not generate revenue and adversely caused expense burden on the ministry. The committee should consider guidelines on stakeholding to ensure maximum benefits for the ministry, he said.
Finance Ministry currently holds stakes of 36 companies worth 796.63 billion baht. The top 10 company stakes with the highest value are:
- TMBThanachart Bank - 26.55 billion baht
- Islamic Bank of Thailand - 9.12 billion baht
- Bangchak Corporation - 2.63 billion baht
- Boon Rawd Brewery - 2.03 billion baht
- PTT Oil and Retail Business - 1.99 billion baht
- Don Muang Tollway - 1.87 billion baht
- Bangkok Broadcasting & TV - 1.36 billion baht
- Syndicate of Thai Hotels and Tourists Enterprises - 687 million baht
- Bound and Beyond - 653 million baht
- Swai Prapas and Son - 410 million baht
