The State Enterprise Policy Office (Sepo) is set to divest its stakes in 24 companies that do not operate in the government's strategic industries in the second half next year.
A financial adviser responsible for providing suggestions to Sepo on which companies should be sold at what price and by which method is expected to spend six months on the task. The stakes would be put on sale in the second half of 2018, said Ekniti Nitithanprapas, Sepo director-general.
The 24 companies' securities had been foreclosed to state assets and they are not engaged in businesses that are in line with the ministry's policies, he said. The asset auction model used by the Financial Institutions Development Fund could be adopted, said Mr Ekniti.
"We must consider how much value we can obtain from the sale of each of the 24 companies, and what is the appropriate disposal method. The sales may require different methods and need to take the regulations related to each securities into account. For example, regulations governing some securities require the Finance Ministry to offer to sell them to the company's existing shareholders first," he said.
"Regarding the sales price, they must be sold at an appropriate level and should not be lower than the price the Finance Ministry paid to acquire them."
The planned divestment is to comply with a cabinet resolution from 2011 that permitted the sale of assets and businesses not relevant to the country's development.
A source at Sepo previously said proceeds from the sales will be used to invest in other businesses that meet the government's requirements and match the Finance Ministry's long-term plans.
The ministry holds stakes in 109 companies with a combined book value of 802 billion baht. Of the total, 23 companies with book value of 771 billion baht are state enterprises, while the remaining 86 with book value of 31 billion are non-state enterprises.
Mr Ekniti said Sepo would speed up mapping out a strategic plan to manage assets and upgrade Vayupak Fund 1 to be the government's investment instrument, in particular for startups. Moreover, it would accelerate setting a criteria for fund mobilisation of the Thailand Future Fund (TFF), an infrastructure fund to finance transport projects.
He said TFF's initial public offering will be delayed to next year.
Another source at Sepo said the 24 securities had been seized from politicians and those found guilty of money laundering. The shares belong to companies operating massage parlours, ore mining, sugarcane milling, making fertiliser, selling securities, and auto parts, the source said.