Thailand firm to take over Dairy
Dairy Corporation workers yesterday mobbed a Privatisation Unit official and the company chairman at the end of a meeting called to endorse the takeover of the corporation assets by a Thai company.
By James Odomel
Dairy Corporation workers yesterday mobbed a Privatisation Unit official and the company chairman at the end of a meeting called to endorse the takeover of the corporation assets by a Thai company.
Thai company Malee Sampran is expected to take over the corporation’s assets by the end of the week, privatisation minister Peter Kasenene said yesterday.
Privatisation Unit (PU)’s Godfrey Sebugwawo met the corporation board of directors to resolve that the Thai firm would lease the company for three years.
Early 2004, the PU advertised for interested bidders to buy a controlling stake in the corporation.
However, in October, the government cancelled the bidding process and directed that the PU goes into negotiation with Malee Sampran Plc for the lease of the company.
Last week, Kasenene wrote to the corporation chairman, telling him to call a board meeting to effect the transfer of assets to Malee.
Weekend reports said the President had ordered that the corporation be passed on to the Thai firm for a nominal fee of $1. However, PU officials were non-committal on the figure.
“We have not agreed on it yet. We don’t want to frustrate the investor with a prohibitive figure,†Kasenene said.
Kasenene said the entire rental fee would be ploughed back in the company.
Visibly angry workers mobbed the board members as they emerged from the meeting.
Dairy Corporation workers yesterday mobbed a Privatisation Unit official and the company chairman at the end of a meeting called to endorse the takeover of the corporation assets by a Thai company.
Thai company Malee Sampran is expected to take over the corporation’s assets by the end of the week, privatisation minister Peter Kasenene said yesterday.
Privatisation Unit (PU)’s Godfrey Sebugwawo met the corporation board of directors to resolve that the Thai firm would lease the company for three years.
Early 2004, the PU advertised for interested bidders to buy a controlling stake in the corporation.
However, in October, the government cancelled the bidding process and directed that the PU goes into negotiation with Malee Sampran Plc for the lease of the company.
Last week, Kasenene wrote to the corporation chairman, telling him to call a board meeting to effect the transfer of assets to Malee.
Weekend reports said the President had ordered that the corporation be passed on to the Thai firm for a nominal fee of $1. However, PU officials were non-committal on the figure.
“We have not agreed on it yet. We don’t want to frustrate the investor with a prohibitive figure,†Kasenene said.
Kasenene said the entire rental fee would be ploughed back in the company.
Visibly angry workers mobbed the board members as they emerged from the meeting.