SRT to set up subsidiary to help increase income

BANGKOK, April 24 (TNA) -- The State Railway of Thailand (SRT) has planned to set up a new subsidiary to manage its assets, as well as to help generate revenues, while expressing confidence that within the next six years, the SRT could increase its income by 60 billion baht. Acting SRT Governor Anon Luangboriboon said that the SRT has now hired a consulting firm to help study how to set up a subsidiary company which would responsible in managing the SRT's assets in answer to the Ministry of Transport's policy that desired all transport-related organisations to revive their businesses and increase income. The study, Mr Anon said would be focused on the development of lands owned by SRT to help increase revenues. He stressed there are 11 large land areas around Bangkok, which possess high business potential, noting that the new set up company would be in charged of handling and managing SRT contracts with a third party and to attract joint investors for the development of the new lands. Mr Anon said the study should take roughly about nine months, after which the new company would be established by next year. He said the SRT is expecting that over the next six years or between 2017-2023, it would be able to generate an extra revenue of 60 billion baht to help reduce the 170 billion baht debt burden which the SRT is struggling with. The SRT is scheduled to propose the setting of a new subsidiary to the Ministry of Transport by mid May, with a registered capital of 200 million owned completely by the SRT. (TNA)