TMNC to be transferred to Thai finance ministry

BANGKOK, December 13 (TNA) - The Thai Ministry of Transport will propose to the Thai Cabinet later this month to consider its plan on transferring operations of Thai Maritime Navigation Co., Ltd. (TMNC) under its jurisdiction to the Ministry of Finance's supervision instead. Thai Deputy Transport Minister Police Lieutenant General Chatt Kuldiloke acknowledged Tuesday that his ministry's proposed plan to transfer the state-run TMNC’s business to the Ministry of Finance was earlier decided by the previous Democrat Party-led government. Police Lieutenant General Chatt said that his Transport Ministry currently holds 30 per cent of TMNC's total stakes; while the remaining shares are held by 23 Thai shipping firms, and that the company running goods shipments by sea also handles domestic oil transport services for state-run PTT Public Company Limited (PTT) and earns some 10–20 million baht revenues annually. According to the deputy transport minister, if the plan was approved by the Thai Cabinet, the Finance Ministry would then hold the 30-per cent shares, instead of the Transport Ministry. A Thai Transport Ministry inspector, Chula Sukmanop, in his capacity as TMNC's acting director, insisted that the company would become more flexible in its operations and its business would become more competitive if it was transferred to be under the Ministry of Finance instead, and that the planned transfer should not much affect the company’s operations, as it now has only two employees to look after, an accountant and an inspector. (TNA)