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Thai Oil Supports SWF Launch Plans
Thai Oil has supported the proposed launch of a wealth fund.
Thai Oilhas supported the proposed launch of a wealth fund,The Nationreports. The company expects that with the new fund Thailand will be able to manage public sector risks in the Singapore, Malaysia and South Korea do.
Bank of Thailandand the finance and energy ministries are in talks to set up a sovereign wealth fund. The move is in line with the falling dollar-baht exchange rate, said Thai Oil CEOSurong Bulakul. The government should allocate partial reserves for the SWF, which could be invested in energy sources for the kingdom’s energy security, he added.
Click here for the story fromThe Nation.