Connect with us
The clever new way to send money abroad

Business

Thai Junta tries to boost governance in state firms

Published

on

Thailand is seeking to set up an investment holding company next year for government shareholdings, part of a wider effort to improve the performance of state-controlled enterprises.

A law to boost the governance of such firms and enable the creation of the holding company may be enacted by March, according to Ekniti Nitithanprapas, the director general of the State Enterprise Policy Office.

“We’d like the holding company to work in an efficient way like Temasek or Khazanah,” Ekniti said in an interview in Bangkok on Wednesday, referring respectively to Singapore’s state-owned investment firm Temasek Holdings Pte and Malaysia’s sovereign fund Khazanah Nasional Bhd.

State enterprises are planning 446 billion baht ($12.5 billion) of investment in 2017, according to the policy office. That’s equivalent to about 3 percent of Thailand’s gross domestic product, underlining the importance of ensuring the companies are managed well.

The new law is supposed to create a policy committee and a master plan for the sector, as well as boost transparency, formalize the way directors are appointed and evaluate corporate performance.

“This reform is crucial for long-term economic development,” said Santitarn Sathirathai, head of emerging Asia economics at Credit Suisse Group AG in Singapore.

“Ministries are in charge of state enterprises and often wear too many hats as shareholders, rule setters and referees, which sometimes breeds conflict of interest and inefficiencies.”

Source link

DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing international and regional investors insight into some of Asia’s most opaque markets. Our financial news site www.dealstreetasia.com reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

Read more at: http://www.dealstreetasia.com/about-us/

DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

Click to comment

Leave a Reply

Business

Thailand aims to push its games and content industry

After almost a year under the pandemic, the number of game players in Thailand rose to 32 million and helped the market generate over a billion dollars in 2020, according to NewZoo, an international analytics and market research group.

Published

on

Currently, key digital organizations involved in the economy are joining forces to push the Thai gaming industry, so as to attain the level of a regional hub.

(more…)
Continue Reading

Investment

Thailand’s H1 Investment Applications rise 158% in combined value, BOI says

Japanese firms ranked first with 87 projects worth 42.8 billion baht, followed by investments from the U.S. with 18 projects worth 24.1 billion baht, and China with 63 projects worth 18.6 billion baht.

Published

on

In the first six months of 2021, Thailand’s investment applications increased 14% from the year earlier period in terms of the number of projects, and 158% in combined value, led by increasing foreign direct investment (FDI) applications, sustained growth in target industries including the electronics and medical sectors, as well as in power generation, the Thailand Board of Investment (BOI) said.

(more…)
Continue Reading

Most Read

Recent