Most Thaïs want PTT Plc to be bought back by state: survey

[Lite Beer]

Most Thais want PTT Plc to be bought back by state: survey

BANGKOK: -- Up to 77.34 per cent of people think that the PTT plc should be delisted and bought back the Finance Ministry as a fully-owned state firm so that Thais can buy cheaper fuel, an opinion survey by the National Institute of Development Administration found.

The survey was conducted among 1,249 people around the country on Thursday and Friday.

The survey found that 9.13 per cent did not agree with the call for the delisting of the firm while 0.88 per cent said they do not mind having the firm run either by the state or public company and the remaining 12.65 per cent had no comment.

Source: http://www.nationmultimedia.com/breakingnews/Most-Thas-want-PTT-Plc-to-be-bought-back-by-s-30244787.html

-- The Nation 2014-10-05

[Costas2008]

"fully-owned state firm so that Thais can buy cheaper fuel"

How ill informed these people are.

PTT being a fully owned state firm will change nothing to the price of the fuel.

Instead corruption and mismanagement will thrive.

Not that I am fond of PTT, but it's better to leave them as they are at the moment.

[chainarong]

Well this could be so , I know most are lamenting in OZ the break up of government departments and sold off , all it has done is produce higher prices, of course those that have invested heavily in these companies would beg to differ.

[Ace of Pop]

And a Coffee cheaper than Amazon.

[BKKBrit]

"fully-owned state firm so that Thais can buy cheaper fuel"

How ill informed these people are.

PTT being a fully owned state firm will change nothing to the price of the fuel.

Instead corruption and mismanagement will thrive.

Not that I am fond of PTT, but it's better to leave them as they are at the moment.

If you think PTT is untouchable now as a listed company and that it's free of interference (read 'sponsorship') and corruption - you live in la-la land.

[jbaldwin]

PTT is currently a state enterprise, which had a minority of its shares quoted on the stock exchange. The government holds 52% of the shares. As a state enterprise the capital expenditure budget is set by the Thai cabinet based on a recommendation for the PTT board. Buying back the shares means a state controlled company remains a state controlled company and lots of money goes to the minority shareholders.

Personally I think it should be broken up and separate Exploration & Production, Gas Pipeline & Infrastructure, and several Refining & Marketing companies should all be completely privately owned.

[Lite Beer]

Most Thais favour PTT’s takeover by the government

BANGKOK: -- More than 75 percent of the people polled by the National Institute Development Administration have wanted the government to take back the control of PTT Public Company because they want to use cheap oil or the prices of oil to be fair.

The poll shows that 31.79 percent of the respondents believe PTT’s operations are meant for the benefit of the shareholders; 21.30 percent believe that the operations are meant for the benefit of all; 17.77 percent believe they are for the benefit of the management and 14.73 percent believe that they are for the benefit of the country and the public. 14.41 percent are unsure.

Regarding the question about whether PTT should be taken over by the government or not, 77.34 percent of the respondents said it should to ensure transparency and fairness to the public so that they could use petrol at cheap or fair prices.

However, 9.13 percent of the respondents disagreed with PTT’s takeover pointing out that this might affect the country’s image and credibility and, also, the company’s policy might be changed back and forth by one government and another.

50.20 percent said that the oil prices are very expensive, 35.95 percent said they are expensive and 12.01 percent said they are suitable.

The above opinion survey was conducted during October 2-3. Altogether 1,249 samples were taken from people throughout the country of diverse occupations and professions.

Source: http://englishnews.thaipbs.or.th/thais-favour-ptts-takeover-government/

-- Thai PBS 2014-10-05

[Bob12345]

This sounds like another survey with leading questions:
1. Do you agree that being mobile is important for Thais? >Yes

2. Do you drive a car? >Yes
3. Have you noticed fuel prices going up in recent years? >Yes
4. Do you agree that fuel prices should stay low so Thais have the ability to be mobile? >Yes
5. Do you agree that PTT should be in government hands so fuel prices can be lowered >uhhhhhmmmmm

What the respondents have forgotten is that cheaper fuel comes at a price. Of course the government can take control of PTT and lower prices, but the money has to come from somewhere. And like almost every government in the world: the total costs will only increase when the government starts running businesses as this is not really what they are good at.

[Bob12345]

Regarding the question about whether PTT should be taken over by the government or not, 77.34 percent of the respondents said it should to ensure transparency and fairness to the public so that they could use petrol at cheap or fair prices.

I hope people realize that petrol is subsidized in Thailand so transparency and fairness would mean an increase in prices and not a decrease.

[FangFerang]

Every single time an aspect of infrastructure has been privatized -- water, soil management and others -- costs rise because, well, profit industries want to raise profits.

Duh, and doh again.

[cloudhopper]

"fully-owned state firm so that Thais can buy cheaper fuel"

How ill informed these people are.

PTT being a fully owned state firm will change nothing to the price of the fuel.

Instead corruption and mismanagement will thrive.

Not that I am fond of PTT, but it's better to leave them as they are at the moment.

If you think PTT is untouchable now as a listed company and that it's free of interference (read 'sponsorship') and corruption - you live in la-la land.

Yes that's where we live but that's not what he posted.

[Thai at Heart]

Who told them it would allow them to get cheaper fuel?

Funny this. They moan and bitch about subsidies for farmersz but expect the govt to subsidise their fuel and plane tickets....

Stupid people.

[Alwyn]

This sounds like another survey with leading questions:

1. Do you agree that being mobile is important for Thais? >Yes

2. Do you drive a car? >Yes

3. Have you noticed fuel prices going up in recent years? >Yes

4. Do you agree that fuel prices should stay low so Thais have the ability to be mobile? >Yes

5. Do you agree that PTT should be in government hands so fuel prices can be lowered >uhhhhhmmmmm

What the respondents have forgotten is that cheaper fuel comes at a price. Of course the government can take control of PTT and lower prices, but the money has to come from somewhere. And like almost every government in the world: the total costs will only increase when the government starts running businesses as this is not really what they are good at.

The government already controls it with a 52% shareholding

[Bob12345]

...

The government already controls it with a 52% shareholding

Being a majority shareholder is something else than controlling it.

Like I have a 50% stake in everything we own, but my wife decides what we buy.

[Alwyn]

...

The government already controls it with a 52% shareholding

Being a majority shareholder is something else than controlling it.

Like I have a 50% stake in everything we own, but my wife decides what we buy.

yeah mine does too mostly, but 50/50 isn't a majority though, is it?

[Bob12345]

...

The government already controls it with a 52% shareholding

Being a majority shareholder is something else than controlling it.

Like I have a 50% stake in everything we own, but my wife decides what we buy.

yeah mine does too mostly, but 50/50 isn't a majority though, is it?

Explain that to my wife

[monkeycountry]

PTT has a profit margin of appx. 3%, which means for every 100 baht turnover, 3% is profit. This is a very very low profit margin btw.

Further, as a little over 50% of PTT is already owned by the finance ministry, only around 50% of the mentioned 3% profit goes to private shareholders. Ie. around 1.5% goes to private shareholders.

In other words, if the finance ministry owned 100% of the shares, gasoline prices could be made 1.5% cheaper (the amount that would no longer be paid to private shareholders).

So if a liter of gasoline is now say 42 baht, the it can at best become 41.37 baht if the finance ministry holds all the shares.

I bet not a single one of the 1249 people in this survey knew that - or anything else regarding PTT for that matter. Asking people what they think about something they know nothing about makes no sense whatsoever.

Edited October 5, 2014 by monkeycountry

[Thai at Heart]

...

The government already controls it with a 52% shareholding

Being a majority shareholder is something else than controlling it.

Like I have a 50% stake in everything we own, but my wife decides what we buy.

These 52% are formal voting shares. The govt gets the strategy it wants. Period.

[givenall]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

"fully-owned state firm so that Thais can buy cheaper fuel"

How ill informed these people are.

PTT being a fully owned state firm will change nothing to the price of the fuel.

Instead corruption and mismanagement will thrive.

Not that I am fond of PTT, but it's better to leave them as they are at the moment.

I think you meant to say how selfish these people are

[JacChang]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

PTT is currently a state enterprise, which had a minority of its shares quoted on the stock exchange. The government holds 52% of the shares. As a state enterprise the capital expenditure budget is set by the Thai cabinet based on a recommendation for the PTT board. Buying back the shares means a state controlled company remains a state controlled company and lots of money goes to the minority shareholders.

Personally I think it should be broken up and separate Exploration & Production, Gas Pipeline & Infrastructure, and several Refining & Marketing companies should all be completely privately owned.

It already is. Since you knew that ptt shares are on the SET, I'm pretty sure you heard of pttgc, pttep, and so on?

Funny how the survey is asked on the civilians. That is more a government populist policy concern. It's like bumrumgrad hospital going to ask the customers if they would like cheaper fees.

Internally, there has been huge conflicts between private shareholders and the government with regards to running the company. On some businesses such as LPG and such, the company is barely making any profit, I could even say a loss is even possible. So why are they selling it so low? Because of government. PTT itself has to subsidize it's own LPG with profits from gasoline. So overall, I think PTT is already running as an SOE, with government control very evident. And the rest minority shareholders just get the 4-5% dividends annually. So I don't see why there is a need for this survey, it's not like the private sector is abusing the ptt giant.

[Thai at Heart]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

PTT is currently a state enterprise, which had a minority of its shares quoted on the stock exchange. The government holds 52% of the shares. As a state enterprise the capital expenditure budget is set by the Thai cabinet based on a recommendation for the PTT board. Buying back the shares means a state controlled company remains a state controlled company and lots of money goes to the minority shareholders.

Personally I think it should be broken up and separate Exploration & Production, Gas Pipeline & Infrastructure, and several Refining & Marketing companies should all be completely privately owned.

It already is. Since you knew that ptt shares are on the SET, I'm pretty sure you heard of pttgc, pttep, and so on?

Funny how the survey is asked on the civilians. That is more a government populist policy concern. It's like bumrumgrad hospital going to ask the customers if they would like cheaper fees.

Internally, there has been huge conflicts between private shareholders and the government with regards to running the company. On some businesses such as LPG and such, the company is barely making any profit, I could even say a loss is even possible. So why are they selling it so low? Because of government. PTT itself has to subsidize it's own LPG with profits from gasoline. So overall, I think PTT is already running as an SOE, with government control very evident. And the rest minority shareholders just get the 4-5% dividends annually. So I don't see why there is a need for this survey, it's not like the private sector is abusing the ptt giant.

Rather oddly though PTT owns these subsidiaries, but all the subsidiaries are available to purchase along with the parent on the stock market.

This is a little bit of a thai oddity which probably wouldn't occur elsewhere in the world.

[Robert24]

Should fully privatise PTT. No need for the government to determine gas prices. Prices should reflect Global market prices for oil and gas. Same for other partially state owned companies like Thai Airways.