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PTT FIASCO

PTT should resume trading soon

Energy Minister Piyasvasti Amranand insisted that PTT Plc's share trading should resume after the Cabinet endorses the asset transfer plan, or negative impacts would be greater.



PTT should resume trading soon

Piyasvasti

 "If the trading should resume after the transfer, that could take 3-4 months. The long period would not only affect PTT share prices, but also mutual funds. Those investing in PTT would be unable to fix net asset value," he said on Monday.

 The Consumers Foundation plans to ask the Supreme Administrative Court to have the share trading suspended until PTT completes the transfer of natural gas pipelines and the land on which the pipelines are located to the Finance Ministry.

 PTT has been suspended on Friday and it is expected to resume trading on Wednesday after the Cabinet considers the asset transfer plan tomorrow.

 Piyasvasti said that to facilitate the transfer, the Energy Ministry has set up a working committee to work out the procedures in line with the Court's ruling on Friday. The committee is chaired by Deputy Energy Permanent Secretary Norkhun Sitthipong.

 He noted that the ministry would only ask the Cabinet's for consent in princile. The transfer would require time in inspecting the land and the direction of pipelines. The ministry would also need to take into account contracts PTT made with land owners. In this process, representatives of the Office of Auditor General would participate as well as other organisations.

- The Nation

 


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