Finance Ministry to reassess stock holdings worth 1.19 trillion baht

The Finance Ministry plans to reassess its shareholdings in various stocks to optimise its asset portfolio and generate additional revenue for the state.

Deputy Finance Minister Paopoom Rojanasakul instructed the State Enterprise Policy Office to evaluate the ministry’s stock holdings. According to sources, this review aims to identify which assets the government should retain and which could be sold.

A special committee has been established to assess the value of 100 stocks, valued at 30 billion baht, that the ministry holds from confiscations. The goal is to divest underperforming assets to streamline the portfolio.

As of today, the ministry’s shareholdings in 13 companies total 1.19 trillion baht in value.

Airports of Thailand (AOT) ranks highest in terms of shareholding value at 670 billion baht, followed by PTT Plc at 492 billion baht, and Thanachart Capital (TTB) at 20 billion baht.

The ministry owns 10,000 shares in AOT, representing a 70% stake, and holds approximately 14.6 billion and 11.4 billion shares in PTT and TTB, equating to 51.1% and 11.7% ownership, respectively, said a ministry official.

“Ministers want to determine which stocks are unnecessary and can be sold, particularly those acquired through asset confiscation. The strategy is to manage the ministry’s investments more efficiently and generate profits for the government.”

Other companies in the ministry’s portfolio include Thai Airways International (THAI), Don Muang Tollway (DMT), Thailand Future Fund (TFFIF), PTT Oil and Retail Business (OR), Bangchak Corporation (BCP), MCOT, MFC Asset Management (MFC), Bound and Beyond (BEYOND), Ratchaphruek Hospital (RPH), and NEP Realty and Industry (NEP).

Stock Exchange of Thailand (SET) data indicates that only three out of these 13 companies reported a decline in financial results for the first quarter on a year-on-year basis. BCP’s net profit decreased by 11% to 2.4 billion baht, while MFC’s net profit fell by 12.7% to 49.3 million baht.

MCOT reported a 34% year-on-year increase in its net loss, amounting to 79 million baht in the first quarter, reported Bangkok Post.