Cabinet okays setting up $2.7b Thailand Future Fund to pour into infra projects

Right: Finance Minister Apisak Tantivorawong. Image from Finance Ministry.

The Thai Cabinet has approved the setting up of Thailand Future Fund with 100 billion baht ($2.78 billion) initial capital to reduce the government’s burden on financing the country’s infrastructure development.

The fund will also seek participation from Thai and foreign investors as well as the general public who prefer investing on the long-term basis. Initially, the Finance Ministry will allocate 10 billion baht from its Vayupak Fund to seed the fund to build up confidence among prospective investors.

“The government wants to accelerate the investment of these infrastructure projects, as they will greatly improve the country’s investment atmosphere and competitiveness. Unless we set up this fund, the government will be able to do only a few projects,” Finance Minister Apisak Tantivorawong told media.

According to the State Enterprise Policy Office, the first phase of the fund is scheduled to be done in January next year. Then, Thai and foreign investors will be allowed to join in the upcoming second phase.

“We set up this fund because we want the private sector to participate. This way, we will have long-term funding from insurance firms and retirement funds,” he said.

The 2.72-trillion-baht ($75.56 billion) fiscal 2016 budget is forecast to run a deficit of 390 billion baht ($10.83 billion), as the government’s revenue is targeted at only 2.33 trillion baht ($64.72 billion).

The Transport Ministry planned to invest 1.8 trillion baht ($50 billion) during 2015-20, and it is estimated that around 130-140 billion baht ($3.61-$3.89 billion) would be injected into the economic system next year.

Also Read: Thailand to launch $2.78b infrastructure fund to accelerate economy

Exclusive: Thailand’s state-owned telecom companies look to raise $281m infra fund in 2016

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.