Few want to head TOT

Application deadline may be pushed back

TOT Plc might extend the application deadline for the position of president another month if it cannot find a qualified candidate, according to a source from the selection committee.

The state telecom enterprise opened the application period from Dec 11-Jan 12. So far it has only three candidates who, at initial glance, do not seem to meet the significant qualification requirements needed to revive TOT’s ailing financial status, said the source.

The source said the selection committee would hold a meeting next Monday to formally evaluate the three candidates’ resumes and qualifications.

“We might set a new deadline for applications if we cannot find a qualified candidate,” the source said.

He disclosed the three candidates contesting the position are Siripong Lohasirikul, managing director of Progress Software Co and former board member of Kasikornbank; Somprot Sarakoses, chief executive of VGM Corporation and former adviser to the ICT minister; and Gen Suraphol Tarbnanont.

Another selection committee source said TOT needed a new chief who has a deep understanding of the telecommunications and IT industries, as well as a keen knowledge of the nature of state enterprises.

The search for a new president is to replace Yongyuth Wattanasin, who resigned in August last year.

A director on TOT’s board said the state enterprise was likely to report a profit of 1.4 billion baht last year, a huge turnaround from initial projections of a loss of 7.8 billion baht.

He attributed the performance to the adoption of new strategies to improve efficiency and the effectiveness of key business operations, as well as reducing operational costs.

“Many unrealistic investment projects have been suspended and some were scrapped,” said the source, noting a project to construct a data centre worth 900 million baht has been cancelled as the board found numerous incidents of corruption in the purchasing process.

He also mentioned the state enterprise’s fibre-to-home network investment project. He said TOT spent 12,000 baht per port, while private operators spent only 4,500 baht a port.

The TOT’s purchasing process has created loopholes for corruption, said the source. For instance, TOT bought the cable lines at 12 baht a metre even though the average price is seven baht a metre.

“All of the suspended and scrapped investment projects will be revised after the board examines the processes again,” he said.

The source added given the turnaround in performance, TOT may be able to pay bonuses to employees for last year.