Thailand army top brass to head CAT board

Staff writer
24 Jul 2014

Thailand’s state-owned telco CAT Telecom has announced profits of $19 million million (602 million baht) and has selected a serving general as new chairman of the board.

At its annual general meeting, CAT Telecom’s shareholder appointed General Sirichai Distakul was appointed as its new chairman of the board. CAT is wholly owned by the Ministry of Finance.

General Sirichai is currently the Assistant Commander-in-Chief of the Royal Thai Army, the third highest ranking army officer. He is also the former army Chief of Staff.

The meeting also appointed former National Electronics and Computer Technology Center Dr Pansak Siriruchatapong as its deputy chair.

CAT CEO Kitisak Sriprasert said that the first six months of 2014 have seen the state telco rake in revenues of $795 million (25,260 million baht) against costs of $776 million (24,658 million Baht) or a profit of $19 million. These figures do not include any concession revenue share that now has to be remitted directly to central government coffers.

Pansak ordered the management to have a rehabilitation plan ready for presentation to the new state enterprise super-board by 28 July and said the next CAT board meeting would be held on 6 August.

Earlier the NCPO appointed Pansak’s predecessor at Nectec, Dr Thaweesak Koanantakool to the state enterprise super-board overseeing the turnaround of all state enterprises.

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