State Railway to launch land-management subsidiary next year
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.
