BANGKOK: The cabinet on Tuesday approved earmarking 10 billion baht as seed money for the 100-billion-baht Thailand Future Fund (TFF), which will invest in three road projects in the first stage.
Of the 10 billion baht, 1 billion derived from Vayupak Fund 1’s dividends will be used to set up a revolving fund to guarantee a minimum return to TFF unit holders, while the remaining 9 billion will be raised from swapping shares held by the Vayupak Fund, said Ekniti Nitithanprapas, director-general of the State Enterprise Policy Office (Sepo). The Vayupak Fund was set up by the Thaksin government to raise funds from the public by investing in 11 stocks. The Finance Ministry is now the fund’s biggest shareholder.
Mr Ekniti said proceeds from TFF’s initial public offering will be used to invest in three projects — the Bangkok-Rayong motorway, the outer ring road linking Ayutthaya and Pattaya, and an expressway linking Rama III Road-Dao Kanong-Kanchanaphisek Road (the western outer ring road).
