State Railway to launch land-management subsidiary next year

[webfact]

State Railway to launch land-management subsidiary next year

By The Nation

 

 

The State Railway of Thailand (SRT) plans to launch an asset-management subsidiary next year in line with a Cabinet resolution last month, SRT governor Nirut Maneephan said.

 

The SRT will register the subsidiary as a state enterprise this year with registered capital of Bt200 million. It will also appoint the subsidiary’s board and begin the selection process for its chief executive officer.

 

The subsidiary will initially be run by SRT personnel before recruiting its own staff of about 100 employees within three years. It will be tasked with managing the SRT’s off-track landholdings of 38,469 rai, worth a total Bt300 billion.

 

The subsidiary's main revenue will come from the 15,270 existing land rental contracts and from leasing land where rental contracts have expired.

 

Source: https://www.nationthailand.com/business/30396324

 

-- © Copyright The Nation Thailand 2020-10-19

 

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[jabis]

I thought SRT was in dire straits, with continuing operating losses worth billions, where did they fork 200 million for a subsidiary x)

[Grumpy John]

11 minutes ago, jabis said:

I thought SRT was in dire straits, with continuing operating losses worth billions, where did they fork 200 million for a subsidiary x)

Interesting isn't it!  A bit like the government not having money for the HS rail project or borrowing to stimulate the economy yet there are foreign reserves of US$250 billion.  Me thinks there are some dirty deals being done!

[scorecard]

1 hour ago, jabis said:

I thought SRT was in dire straits, with continuing operating losses worth billions, where did they fork 200 million for a subsidiary x)

This activity has been discussed a dozen times before with many past announcements just like this one.

 

I'll believe it when I see it and see some evidence that it's not stacked to benefit political friends. 

 

Roll on Thai Inter 2.

Edited October 18, 2020 by scorecard

[hotchilli]

4 hours ago, jabis said:

I thought SRT was in dire straits, with continuing operating losses worth billions, where did they fork 200 million for a subsidiary x)

It's not what's in the till it's whats hidden away.

[lujanit]

Another 200 million for the piggies trough.

[Burma Bill]

8 hours ago, webfact said:

State Railway to launch land-management subsidiary

How about more markets like Maeklong:-