SEPO sells govt shares in only three of 18 private firms

By The Nation

 

Praphas Khong-Iad

 

The State Enterprise Policy Office (SEPO) announced on Friday (Aug. 23) that it has sold government shares in three out of 18 private companies, admitting that the slow economy has made selling of the remaining shares harder.

 

SEPO director Praphas Khong-Iad revealed that after the September 2016 announcement that shares held by the Finance Ministry in 18 private companies would be sold, buyers expressed an interest to purchase shares in ten companies. “Out of those ten, the selling of shares in three companies has been finalised,” he said.

 

Praphas explained that most of the buyers are existing shareholders of those companies who are looking to expand their shares.

 

“We try to sell the shares at appropriate prices as suggested by SEPO’s share evaluation committee,” he said. “However, the recessive economy has made it difficult to sell the rest of the shares at desired prices.”

 

The director added that the shares being sold are not of strategic importance. “Most of the shares are from asset repossession, which generates very little yield and are not worth holding,” he said.

 

The office reported that earnings from selling the shares in three companies amounted to only Bt2 million.

 

Finance Ministry statistics show that in 2017 the ministry held shares valued at Bt1.1 trillion in 109 private companies, most of which were shares of state enterprises valued at Bt787 billion.

 

Source: https://www.nationthailand.com/news/30375267

 

-- © Copyright The Nation Thailand 2019-08-26

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Such confidence, starting to pull out of the economy because they know what's coming....

Sorry I thought this article was about an American selling shares.

2 hours ago, webfact said:

The office reported that earnings from selling the shares in three companies amounted to only Bt2 million.

So they sold 2 million bahts worth of shares out of a total of 1.1 trillion baht in shares held in 109 private companies. 

The granddaddy of all Thai government underachievements. 

52 minutes ago, Cadbury said:

So they sold 2 million bahts worth of shares out of a total of 1.1 trillion baht in shares held in 109 private companies. 

The granddaddy of all Thai government underachievements. 

I presume there is a typo, or the 2 million was the 'profit' on their cost of acquiring the shares?

Would be interesting to see who acquired these shares, and for what price?

9 hours ago, FarFlungFalang said:

Sorry I thought this article was about an American selling shares.

You are not allowed to use the "S" word on here. The mods might be after you.

33 minutes ago, GreasyFingers said:

You are not allowed to use the "S" word on here. The mods might be after you.

Don't worry they know exactly where I am and have dealt with me a couple of times already because I'm always putting my hand up saying "pick me pick me".

  One of my original sayings is 'sorry I'm not sorry'!

Edited August 26, 20196 yr by FarFlungFalang
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