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Push for Star listing
The Securities and Exchange Commission (SEC) wants the Energy Ministry to fast-track the listing of Star Petroleum Refining this year as well as supporting the establishment of a private equities fund to invest in potential businesses.
Meanwhile, the Fiscal Policy Office (FPO) is expected on Monday to ask for clarification from new Finance Minister Kittiratt Na-Ranong on the demutualisation plan of the Stock Exchange of Thailand and also the capital-market development plan.
“We need to know whether the SET’s demutualisation plan will go ahead, as Kittiratt previously noted that he did not want to continue it. If the demutualisation does not materialise, there should be a clear direction on development of Thai capital markets,” said FPO director-general Somchai Sujjapongse.
TOT president fired
The TOT board passed a resolution yesterday to terminate the contract of the state agency’s president, Anont Tubtiang, effective on February 24, board chairman Panthep Chamrasromran said.
Panthep said the working styles of the board and Anont had clashed. The board informed Anont about the contract termination yesterday. TOT will pay compensation to Anont totalling Bt3 million.
The board appointed board director Tanawat Ampunant as TOT’s acting president.
Panthep said TOT now would focus on seeking ways to stem its financial losses. It will also create a “flat working organisation” instead of a hierarchical one to boost its performance. Excluding concession revenue, TOT has posted losses of about Bt1 billion a month.
BOI Fair still on
The Board of Investment has extended the BOI Fair for two days. People can still visit the fair this weekend at Impact Muang Thong Thani.
