PUBLISHED: 25 Jun 2024 at 05: 04
Following public concerns about the winner of the auction’s financial situation and potential connections to a political party or a major company, Commerce Minister Phumtham Wechayachai has given the Public Warehouse Organization ( PWO ) seven days to assess the suitability of the 15 000 tonnes of old rice.
Due to public inquiries about V8 Intertrading Co Ltd, which offered the highest bid for the grain at 19.07 ringgit per kilogramme, or a full of 286 million baht, the government has n’t already announced the official winner of the auction.
According to press reviews, V8 Intertrading Co Ltd, based in Kamphaeng Phet state, is a fairly new company that was registered on March 6, 2020, with investment of just two million baht.
It had zero revenue in 2021 and posted a net loss of 159, 741.13 baht. Last month, it reported revenue of 2, 293, 623 ringgit and posted a gain of 246, 180 ringgit, while it had possessions worth 1, 174, 870 ringgit and bills of 12, 420 ringgit.
The company’s highest charge of 286 million baht for the older rice, which raises the possibility that it might be a candidate for a big company or political party, despite its funds.
Before actually declaring the company the victor, Mr. Phumtham claimed to have given the PWO seven times to look over the company’s history.
” If]the agency ] is n’t confident the firm can manage]the rice stock], we’ll see what we can do. The terms of reference ( ToR ) and related laws must be followed by the auction committee. My job is to ensure transparency”, he said.
The PWO must bargain after the auction with the illegal success, according to Mr. Phumtham, for the price.
Instead of holding a new bidding, he said,” we can deal with the buyer who submitted the next highest bet” if the firm insists on the cost and we’re unhappy with it.”
On June 17, Mr. Phumtham assured the buyer that the grain was in good condition while the leftover inventory from the Yingluck Shinawatra government’s scandal-plagued rice-pledging system was up for auction. It was kept in Surin’s Kittichai and Poolphol stores.
V8 Intertrading suggested the wheat at the Kittichai storehouse be auctioned for 64 million baht, followed by Sahathan, which had a total of 62.73 million, and Thanasan Rice, which had a total of 60.44 million baht.
For the Poolphol inventory, V8 Intertrading offered 222.29 million ringgit, followed by Thanasan Rice at 209.84 million baht and Sapsaengthong Rice at 182 million baht.
V8 Intertrading, therefore, submitted the highest bidding price for the rice of 19, 070 baht per tonne ( 19.07 per kg ).