Thai Plywood dissolved, others warned
- Published: 10/02/2012 at 02:45 AM
- Newspaper section: Business
Six state-owned enterprises have been told to improve their performance, as the government has decided to shut down those that cannot compete with the private sector, says Deputy Prime Minister Kittiratt Na-Ranong.
Thai Plywood Co, established in 1951 under the Forest Industry Organisation (FIO), has already been dissolved.
The company had accumulated debt of 600 million baht with assets of 32,000 rai of forest that will be transferred to the FIO. Its 50-rai plot worth 700 million baht will be sold to the Bangkok Metropolitan Administration in order to pay debt.
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About the author
- Writer: Chatrudee Theparat
- Position: Business Reporter
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