TFF set for listing on stock market

The listing could take place in the next two to three months.
At a CLSA investor forum |yesterday, Finance Minister Apisak Tantivorawong said that initially there would be
three underlying projects to ensure returns on investments for investors.
Two of the completed projects are Department of Highways' brownfield operations: Motorway Route 7, from
Bangkok to Ban Chang in Rayong, and Motorway Route 9, also known as the |Outer Ring Road from Ayudhya to
Pattaya. 
The third project is the uncompleted Rama 3-Dao Khanong Expressway that will serve as an outer-ring route
operated by Expressway Authority of Thailand.

Funding mix
Apisak said that about 40-50 per cent of the brownfield projects - about Bt40 billion - will be used for construction
of the new projects. About 10 projects under public-private partnership (PPP) schemes will be included.
The planned proceeds from the TFF unit sales will be used to help finance Thailand's infrastructure projects. 
Of the total Bt1.7 trillion budget for mega-infrastructure projects, 60 per cent will come from borrowings, 20 per
cent from PPP schemes, 2 per cent from TFF and the rest from revenue of state enterprises that own the
projects.
The economy began recovering this year and the government is seeking to spur further growth, mainly through
infrastructure investment and the Eastern Economic Corridor (EEC) development, Apisak said. 
He said that the government has sufficient budgetary room to make borrowings, given that government debt is
only 43 per cent of the nation's gross domestic product (GDP).
The Ministry of Finance has |set a sustainable framework with |the public debt of no more than |60 per cent of
GDP. 
The government says the country’s 20-year economic plan has been set in place for the next government to help
promote investor confidence. 
The 20-year plan is a key national reform for future sustainability, Apisak said.