Thailand's state enterprises refuse to rehabilitate: Face closure
By Jon Fernquest
Some
state
enterprises
like the State
Railway of Thailand
have lost money continually and have
never really been profitable.This year these enterprises were required to come up with a rehabilitation plan.
None of them did what they were asked to do, at least on time.
Today's article discusses the government response to this intransigence. It begins after the vocabulary.
(Photo on right is one of many train derailments in Thailand in recent years).
state
- government รัฐ
enterprises - companies
State Railway of Thailand (SRT) - the state-owned rail operator of Thailand, การรถไฟแห่งประเทศไทย (See Wikipedia)
come up with - creates something (that requires original and createive thought, live solving a problem, example: come up with a solution to the math problem)
rehabilitation (noun) - making a system, building, etc., suitable for use again, i.e., bringing it back to a normal good condition การฟื้นฟูสภาพกิจการ
rehabilitate (verb)
intransigence - refusing to change your behaviour or ideas (when you should)
derailment - a train accident in which the train goes off the tracks (See Wikipedia)
enterprises - companies
State Railway of Thailand (SRT) - the state-owned rail operator of Thailand, การรถไฟแห่งประเทศไทย (See Wikipedia)
come up with - creates something (that requires original and createive thought, live solving a problem, example: come up with a solution to the math problem)
rehabilitation (noun) - making a system, building, etc., suitable for use again, i.e., bringing it back to a normal good condition การฟื้นฟูสภาพกิจการ
rehabilitate (verb)
intransigence - refusing to change your behaviour or ideas (when you should)
derailment - a train accident in which the train goes off the tracks (See Wikipedia)
Economics
Poor state enterprises face closure
Government demands better performance10/07/2010
Chatrudee Theparat
The government may force seven loss-ridden and uncompetitive state-owned enterprises to close if they fail to improve their performance, says Deputy Prime Minister Trairong Suwankhiri, chairman of the State-Owned Enterprises Policy Committee.
The committee also told the seven state enterprises to submit their long overdue rehabilitation plans within a couple of weeks.
demands
- the things that someone is asking you to do
performance - how well or badly something works (or whether an investment provides a reasonable return)
force - strong action to make someone do something กำลัง ความรุนแรง
ridden - has a lot of something bad (guilt ridden about the kids, flea ridden blanket, debt-ridden company, for example)
loss-ridden - always losing money
improve - to make better ทำให้ดีขึ้น
submit - officially give or send a report or other document for consideration or decisionmaking ยื่น (เอกสาร) เพื่อการพิจารณา
overdue - late, not done on time, not done within the required time
rehabilitation - the process of returning someone or something to a good or healthy condition, state or way of living การทำให้กลับสู่สภาพเดิม, การทำให้กลับมาดีเหมือนเดิม
rehabilitation - making a system, building, etc., suitable for use again, i.e., bringing it back to a normal good condition การฟื้นฟูสภาพกิจการ
performance - how well or badly something works (or whether an investment provides a reasonable return)
force - strong action to make someone do something กำลัง ความรุนแรง
ridden - has a lot of something bad (guilt ridden about the kids, flea ridden blanket, debt-ridden company, for example)
loss-ridden - always losing money
improve - to make better ทำให้ดีขึ้น
submit - officially give or send a report or other document for consideration or decisionmaking ยื่น (เอกสาร) เพื่อการพิจารณา
overdue - late, not done on time, not done within the required time
rehabilitation - the process of returning someone or something to a good or healthy condition, state or way of living การทำให้กลับสู่สภาพเดิม, การทำให้กลับมาดีเหมือนเดิม
rehabilitation - making a system, building, etc., suitable for use again, i.e., bringing it back to a normal good condition การฟื้นฟูสภาพกิจการ
The cabinet early this year instructed the seven enterprises to draw up rehabilitation plans for their respective business. None of the seven have honoured this commitment.
The seven are the State Railway of Thailand, Dairy Farming Promotion Organisation of Thailand, Market Organisation for Farmers, Fish Marketing Organisation, Market Organisation of the Interior Ministry, Public Warehouse Organisation, and Bangkok Dock Co, under the Royal Thai Navy.
While some of the seven state enterprises may be in the black, they must upgrade their operations to ensure competitiveness in the long run.
draw up - create a
written document
respective - the one that belongs to each one of them (example: the law applies to each of their respective businesses)
commitment - a promise to continue doing something การใ้ห้คำมั่น
honour a commitment - do what you promised to do
in the black - the business is profitable and making money
upgrade - improve; make new, modern, and up-to-date
ensure - to make sure something happens or is done ให้ความมั่นใจ รับรอง
competitiveness - how well a business can do compared to other firms (does it have lower price or higher quality?) การแข่งขัน
respective - the one that belongs to each one of them (example: the law applies to each of their respective businesses)
commitment - a promise to continue doing something การใ้ห้คำมั่น
honour a commitment - do what you promised to do
in the black - the business is profitable and making money
upgrade - improve; make new, modern, and up-to-date
ensure - to make sure something happens or is done ให้ความมั่นใจ รับรอง
competitiveness - how well a business can do compared to other firms (does it have lower price or higher quality?) การแข่งขัน
Last year State Railway of Thailand reported operating losses of 12.7 billion baht, while the Diary Farming Promotion Organisation of Thailand was 490 million baht in the red.
The Marketing Organisation for Farmers reported a profit of 34 million baht last year, but it has been told to improve efficiency to help farmers market their products more effectively.
profit
- money that you make from selling goods and services after all your
costs have been paid กำไร
efficiency - doing a task well without wasting time, money, resources (See glossary) การทำงานอย่างมีประสิทธิภาพ คุ้มค่าเวลาและใช้พลังงานหรือต้นทุนในการผลิตน้อย เพื่อให้ได้ผลผลิตมาก
effectively - working well and producing the results that they wanted
in the red - the business is not profitable and is losing money
efficiency - doing a task well without wasting time, money, resources (See glossary) การทำงานอย่างมีประสิทธิภาพ คุ้มค่าเวลาและใช้พลังงานหรือต้นทุนในการผลิตน้อย เพื่อให้ได้ผลผลิตมาก
effectively - working well and producing the results that they wanted
in the red - the business is not profitable and is losing money
Mr Trairong said other state enterprises including CAT, TOT, Thai Airways International and the Bangkok Mass Transit Authority must also accelerate implementing rehabilitation plans to improve their bottom lines.
In a related development, the committee also asked the Transport Ministry to re-examine the port construction concession of the Port Authority of Thailand.
accelerate
- go faster and faster , at an increasing rate, to cause to happen more
quickly เร่ง
implementing - turning a plan into a functioning system นำมาใช้จริง
the bottom line - how much money the business either makes or loses
improve their bottom lines - when the business makes more money
development - the gradual growth and formation of something
port - an area of water where ships stop, including the buildings around it ท่าเรือ
construction - the work of building or making something, especially buildings, bridges, etc. การก่อสร้าง
concession - special permission from the government to be the one who runs a restricted business สัมปทาน
implementing - turning a plan into a functioning system นำมาใช้จริง
the bottom line - how much money the business either makes or loses
improve their bottom lines - when the business makes more money
development - the gradual growth and formation of something
port - an area of water where ships stop, including the buildings around it ท่าเรือ
construction - the work of building or making something, especially buildings, bridges, etc. การก่อสร้าง
concession - special permission from the government to be the one who runs a restricted business สัมปทาน
The PAT awarded a concession to Hutchison Laemchabang Terminal, an affiliate of the Hong Kong conglomerate Hutchison Whampoa, to build and operate six ports worth 61.92 billion baht for 30 years.
The private company asked the PAT to extend the concession, mainly because it would be unable to meet its construction deadline later this year.
award a concession
- when the government
gives a company permission to run a restricted business
affiliate - an smaller organization connected with a larger organization in some way
conglomerate - a large company joining together a group of companies with different business activities
ports - internet connections
extend - to add more time ยืดออกไป
extend the concession - allow a company to run a restricted business for a long period of time
deadline - a time or day by which something must be done เส้นตาย
affiliate - an smaller organization connected with a larger organization in some way
conglomerate - a large company joining together a group of companies with different business activities
ports - internet connections
extend - to add more time ยืดออกไป
extend the concession - allow a company to run a restricted business for a long period of time
deadline - a time or day by which something must be done เส้นตาย
The State-Owned Enterprises Policy Committee estimates that state enterprises will transfer 86.8 billion baht worth of profits to the government this year, or 4.2% higher than the target. For the fiscal year to date, last October to June, transfers have totalled 65.5 billion baht.
estimates
- guesses of what the size, value, amount, cost, etc. of something
might be การประมาณค่า
transfer - to official arrange for someone else to be the owner of something โอน
target - the amount you are planning to achieve เป้าหมาย
target - a goal
fiscal - connected with the government budget, i.e., public money เกี่ยวกับงบประมาณ
fiscal year - the time period and calendar that the government uses to create budgets and do financial reporting
transfer - to official arrange for someone else to be the owner of something โอน
target - the amount you are planning to achieve เป้าหมาย
target - a goal
fiscal - connected with the government budget, i.e., public money เกี่ยวกับงบประมาณ
fiscal year - the time period and calendar that the government uses to create budgets and do financial reporting
(Source: Poor state enterprises face closure, Government demands better performance, 10/07/2010, Chatrudee Theparat, link)
