STATE ENTERPRISE
Prayuth unveils strategy as state enterprises come under scrutiny
Sucheera Pinijparakarn
The Nation

BANGKOK: -- General Prayuth Chan-ocha, chief of the ruling National Council for Peace and Order (NCPO), said yesterday that state enterprises would be grouped to allow those making profits to lend more support to other tasks while those with low income or suffering losses will be able to depend on themselves.

State enterprises are vital and they must be committed to providing services to the people and stakeholders, Prayuth said while chairing the second meeting of the State Enterprise Policy Commission (Superboard) yesterday.

"In a changing world situation, providing services to people needs to be updated, particularly keeping in mind the Asean Economic Community, which will take shape late next year," he said, adding this is to have connectivity of logistics, utilities and all development plans.

"People across the country are watching us and I hope everyone will follow my intention and policy, and work for the success of all state enterprises," Prayuth said.

The Superboard was set up by the NCPO to oversee all state enterprises.

Kasikornbank chairman and CEO Banthoon Lamsam, who is a Superboard member, said the State Enterprise Policy Commission would focus on two things - service efficiency and spending transparency.

"The first thing all need to know is the objectives of each state enterprise. In practice, they can't do what is in opposition to their objectives," Banthoon said.

He noted that the duty of all state enterprises is to serve the public, but that in turn leads to low profits or even losses in some cases. In other cases, some "invisible hands" are at play, to draw money from the state enterprises.

He said Thai Airways International would be among the first state enterprises to dominate discussions by the Superboard, due to its huge debt burden. In addition, the Superboard should discuss if specialised financial institutions under the Finance Ministry's supervision are operating in accordance with their objectives.

Source: http://www.nationmultimedia.com/business/Prayuth-unveils-strategy-as-state-enterprises-come-30240988.html

[thenation]2014-08-15[/thenation]

"state enterprises would be grouped to allow those making profits to lend more support to other tasks while those with low income or suffering losses will be able to depend on themselves."

 

This is a "strategy"??

 

Good job he's not running the country, oh, wait a minute!!

It might be worse, he could have said that they would take their hard-earned profits, to lend to the losers !

 

Although what exactly is meant by "more support to other tasks" remains to be seen.

 

The onset of ASEAN is going to be very challenging for Thailand, I fear.

State Enterprise Policy Commission (Superboard)

Will they be wearing tight suits, masks and capes?

Edited August 14, 201411 yr by Payboy

It might be worse, he could have said that they would take their hard-earned profits, to lend to the losers !
 
Although what exactly is meant by "more support to other tasks" remains to be seen.
 
The onset of ASEAN is going to be very challenging for Thailand, I fear.

The real world is coming and I fear Thailand will see what backward steps have not achieved.

What a bunch of waffle that is.

Group together and find our strategy and everyone must try to support? Yay.

Happy.

This statement will strike fear in corporate and investment folks in and outside the country. 

 

 

 

 

The Superboard..........!!

Their first task is Thai Airways........nothing like jumping into the deep end first up....especially when we all know Thais can't swim!!

When I first read the OP article's first pgh, I thought indeed his meaning was the less profitable ones would be supported by the more profitable ones...

 

But, it's such a poorly written article, it might mean that, or, it might mean something entirely different. It probably would be better if we could see exactly what the general said vs. The Nation's version of it.

 

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When I first read the OP article's first pgh, I thought indeed his meaning was the less profitable ones would be supported by the more profitable ones...

 

But, it's such a poorly written article, it might mean that, or, it might mean something entirely different. It probably would be better if we could see exactly what the general said vs. The Nation's version of it.

 

He actually only said that the agencies should be "grouped." Grouping is his unveiled strategy.

The Thai press quotes named sources as stating that "invisible hands" are at work, and that the agencies shouldn't have purposes that are not their objectives. This is an example of Thai insight by a financial sector leader.

"In other cases, some "invisible hands" are at play, to draw money from the state enterprises." talk about a distortion from phrase taken from "The Wealth of Nations"! The marketplace is invisible hand.... Maybe they need to get some monks in their to chant those hands away, like they did at Swampy. Everyone wants a piece of the pie, but don't mess with the Pee. Here's an idea: make those "invisible hands" visible.

I wonder if the general and the superboard are aware that many of these "state enterprises", including THAI, have a lot of private shareholders. I hope the shareholders will sue the government, if it forces any changes that are clearly not in the best interest of the shareholders. Such as forcing one company to financially help out another or similar.

This is very interesting... Invisible Hands eh.  Hmmmm...

 

"He noted that the duty of all state enterprises is to serve the public, but that in turn leads to low profits or even losses in some cases. In other cases, some "invisible hands" are at play, to draw money from the state enterprises."

"He noted that the duty of all state enterprises is to serve the public, but that in turn leads to low profits or even losses in some cases."

 

As an example THAI is 51% owned by the government, and 49% by private investors. I wonder if the 49% agree with the above statement?

"The duty of all state enterprises is to serve the public." "Thai Airways International would be among the first state enterprises to dominate discussions by the Superboard, due to its huge debt burden"

 

Thai Airways does seem expensive. Will they lower their prices so more of the public can afford to be serviced? They do have a pretty good brand in Thailand and if they lower their prices enough, I think Thai people would respond and leave other lower cost airlines and fly with Thai Airways.

"The duty of all state enterprises is to serve the public." "Thai Airways International would be among the first state enterprises to dominate discussions by the Superboard, due to its huge debt burden"

 

Thai Airways does seem expensive. Will they lower their prices so more of the public can afford to be serviced? They do have a pretty good brand in Thailand and if they lower their prices enough, I think Thai people would respond and leave other lower cost airlines and fly with Thai Airways.

 

You are probably right. But if prices are lowered in order to better service the public and losses are incurred due to that, then what to do with the shareholders who will have to bear those losses? Further, if prices are kept artificially low and subsidised by the government, then that will likely constitute unfair competition, and rightly be subject to lawsuits from the low cost airlines.

"state enterprises would be grouped to allow those making profits to lend more support to other tasks while those with low income or suffering losses will be able to depend on themselves."

 

This is a "strategy"??

 

Good job he's not running the country, oh, wait a minute!!

Sometime things are 'lost in translation'. Especially is the reporter taking notes make a mistake, then the translator makes a mistake, and then the typesetter makes a mistake. In any case, it can't be much worse than the 'crony capitalism' that governed them in all previous administrations.