รายงานประจำปี 2553

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”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–PUBLIC DEBTMANAGEMENTOFFICEAnnual Report 2010√“¬ß“πª√–®”ªï 2553

“√®“°ºŸâÕ”π«¬°“√ ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–MESSAGE FROM THE DIRECTOR-GENERALPUBLIC DEBT MANAGEMENT

„πªï 2553 ∑’Ëºà“π¡“‡ªìπªï∑’Ë¡’§«“¡∑â“∑“¬Õ¬à“ß¡“°µàÕ¿“√°‘®À≈—°¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥– ( ∫π.) „π°“√æ—≤π“µ≈“¥µ√“ “√Àπ’È „Àâ‡ªìπ·À≈àß√–¥¡∑ÿπ∑’Ë¬—Ëß¬◊π¢Õßª√–‡∑»·≈–∫√‘À“√®—¥°“√Àπ’È “∏“√≥–‡™‘ß√ÿ°„Àâ¡’ª√– ‘∑∏‘¿“æ

During the year 2010, the Public Debt Management Office

(PDMO) faced two challenges as we endeavored to accomplish our

missions: developing the domestic bond market into Thailandís

sustainable source of fund, and pro-active public debt management.

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ª√–¡“≥°“√Õ—µ√“°“√¢¬“¬µ—«¢Õß‡»√…∞°‘® (Gross

Domestic Product : GDP) ‰«â‡æ’¬ß√âÕ¬≈– 3.5 - 4.5

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∂÷ß√âÕ¬≈– 60 ´÷Ëß®–‡ªìπ√–¥—∫‡¥’¬«°—∫™à«ßªï 2540 ∑’Ë

‡°‘¥«‘°ƒµµâ¡¬”°ÿâß

µ√ßπ’È‡Õß∑’Ëº¡§‘¥«à“ ∫π. ‰¥âæ≈‘°«‘°ƒµ„Àâ‡ªìπ

‚Õ°“ „π°“√‡√àßæ—≤π“µ≈“¥µ√“ “√Àπ’È„πª√–‡∑»

‚¥¬°“√ÕÕ°æ—π∏∫—µ√ Benchmark Õ¬à“ß‡ªìπ√–∫∫

‡æ◊ËÕ √â“ßÕ—µ√“¥Õ°‡∫’È¬Õâ“ßÕ‘ß„Àâ·°à√—∞«‘ “À°‘®·≈–

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√–¥¡∑ÿπ‡æ◊ËÕ°Ÿâ«‘°ƒµ™“µ‘‚¥¬‰¡àæ÷Ëßæ“Õß§å°√√–À«à“ß

ª√–‡∑»·≈â« ¬—ß‡ªìπ°“√¢¬“¬∞“ππ—°≈ß∑ÿπ¢Õß

µ√“ “√Àπ’È√—∞∫“≈„Àâ°«â“ß¢«“ßÕ’°¥â«¬ µ—«Õ¬à“ß‡™àπ

I remember that at the beginning of the year

2010, the Office of the National Economic and Social

Development Board (NESDB) forecast a mere

3.5%-4.5% growth rate for the Growth Domestic

Product (GDP), due mainly to the slow economic

recovery after the US financial crisis. Moreover, when

the Royal Thai Government issued the Economic

Stimulus Package decree, the estimate of the public

debt : GDP ratio rose to 60% -- the same level as in

the 1997 Asian financial crisis.

It was then that we at PDMO turned crisis into

opportunity by accelerating the development of

Thailandûs domestic bond market. We did this in two

ways. Firstly, we issued the Benchmark Bonds

systematically to provide the market with a stable and

reliable reference yield curve. Secondly, we developed

and issued new products to the domestic bond

market, e.g. the 30-year Government Bond, the

Floating Rate Bond (FRB), and the Step-up Savings

Bond. Not only did these new products enable PDMO

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·∑â®√‘ß

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·≈–§«“¡‡ ’Ë¬ß¢Õß Portfolio µ≈Õ¥®π°“√∫√‘À“√

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“∏“√≥–Õ¬Ÿà„π√–¥—∫∑’Ë‡À¡“– ¡ ´÷Ëß„πªï 2553 ‡ªìπªï

∑’Ëæ«°‡√“∑ÿ°§π∑”ß“πÕ¬à“ßÀπ—°‡æ◊ËÕ„Àâß∫≈ß∑ÿπ

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„π°“√‡√àßøóôπøŸ‡»√…∞°‘® √â“ßÕ“™’æ ·≈–¬°√–¥—∫

‚§√ß √â“ßæ◊Èπ∞“π ®π„π∑’Ë ÿ¥ ‡»√…∞°‘®‰∑¬ “¡“√∂

to meet the Governmentûs net financing requirement

during crisis time without relying on the help of

international organizations, but they also helped

PDMO to broaden its investor base in the government

bond market: the Step-up Savings Bond had over

240,000 accounts of retail clients, the 30-year

Government Bond was well received by long-term

investors such as insurance companies and the Social

Security Office, which took care of the savings of Thais,

and the FRB met institutional investorsû need of

flexibility in investment. Consequently, as part of our

mission in developing the domestic bond market

into Thailandûs sustainable source of fund, PDMO truly

turned crisis into unprecedented opportunity.

The second challenge was pro-active public

debt management, which included the cost of fund

surveillance and risk management of the Governmentûs

Debt Portfolio, as well as the management of the

countryûs disbursement for investment projects.

0504

We did all of the above to keep the public debt at the

appropriate and sustainable level. We at PDMO worked

tirelessly in 2010 to make sure that the countryûs

investment budget reach its goal in a timely manner in

order to speed up economic recovery, to create

more jobs, and to further strengthen Thailandûs

infrastructure. Our hard work proved more

than worthwhile. Thailandûs economy recovered

miraculously. GDP growth rate was at 7.8%, which

doubled the forecast figure. More importantly, the

public debt : GDP ratio, previously estimated at 60%,

came down staggeringly to 42%. PDMO is proud and

honored to have had this important role in helping

to save our country from the economic crisis.

Lastly, with the personnel of just above 200

in total, we at PDMO are determined to be

a professional in managing public debt, with the

goal of fostering Thailandûs sustainable economic

and social development in years to come.

øóôπµ—«‰¥âÕ¬à“ßπà“Õ—»®√√¬å∑’Ë√âÕ¬≈– 7.8 ´÷Ëß Ÿß°«à“∑’Ë

ª√–¡“≥°“√‰«â∂÷ß‡∑à“µ—« ·≈–∑’Ë ”§—≠¬‘Ëß √–¥—∫Àπ’È

“∏“√≥–µàÕ GDP ∑’Ë‡§¬ª√–¡“≥°“√‰«â«à“®– Ÿß∂÷ß

√âÕ¬≈– 60 °≈—∫Õ¬Ÿà∑’Ë√âÕ¬≈– 42 ‡∑à“π—Èπ ´÷Ëß ∫π.

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™à«¬°Ÿâ«‘°ƒµ¢Õß™“µ‘

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√à«¡ 200 §π ¡’§«“¡¡ÿàß¡—Ëπ∑’Ë®–∫√‘À“√Àπ’È‡™‘ß√ÿ°·≈–

‡ªìπ¡◊ÕÕ“™’æ„π°“√∫√‘À“√Àπ’È “∏“√≥–‡æ◊ËÕæ—≤π“

‡»√…∞°‘®·≈– —ß§¡¢Õßª√–‡∑»∑’Ë¬—Ëß¬◊π

Chakkrit ParapuntakulDirector - GeneralPublic Debt Management Office

π“¬®—°√°ƒ»Æ‘‘Ï æ“√“æ—π∏°ÿ≈ºŸâÕ”π«¬°“√ ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

“√∫—≠Contents

“√®“°ºŸâÕ”π«¬°“√ ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

Message from The Director-general public debt management

ª√–«—µ‘§«“¡‡ªìπ¡“¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

Background DEBT Management office

‚§√ß √â“ß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

®”π«π¢â“√“™°“√ ≥ 30 °—π¬“¬π 2553

§≥–ºŸâ∫√‘À“√¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

º≈°“√ªØ‘∫—µ‘√“™°“√¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

ë ¬ÿ∑∏»“ µ√å∑’Ë 1 °“√∫√‘À“√®—¥°“√Àπ’È “∏“√≥–„π‡™‘ß√ÿ°

Strategy 1: Pro-active Debt Management

ë ¬ÿ∑∏»“ µ√å∑’Ë 2 æ—≤π“µ≈“¥µ√“ “√Àπ’È „Àâ‡ªìπ‡ “À≈—°∑“ß°“√‡ß‘π ‡æ◊ËÕ‡ √‘¡ √â“ß

§«“¡·¢Áß·°√àß¢Õß√–∫∫°“√‡ß‘π

Strategy 2: Develop Domestic Bond Market to be a sustainable source

of funding for the stability of Thailand’s financial system

ë ¬ÿ∑∏»“ µ√å∑’Ë 3 æ—≤π“Õß§å°√„Àâ‡¢â¡·¢Áß·≈–¡’ª√– ‘∑∏‘¿“æ¥â“π‡∑§‚π‚≈¬’ “√ π‡∑»

Strategy 3: Organisation Development through the Strengthening

and Improving Efficiency of Information Technology

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ß∫°“√‡ß‘π¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

∫∑§«“¡«‘™“°“√¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

ë °Õß∑ÿπ∫√‘À“√‡ß‘π°Ÿâ‡æ◊ËÕ°“√ª√—∫‚§√ß √â“ßÀπ’È “∏“√≥–·≈–æ—≤π“µ≈“¥µ√“ “√Àπ’È „πª√–‡∑»

Public Debt Restructuring and Domestic Bond Market Development Fund (PDDF)

ë °“√®—¥∑”ß∫ ¡¥ÿ≈ 5 ªï

∫∑§«“¡æ‘‡»…¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

ë °“√®—¥Õ—π¥—∫§«“¡πà“‡™◊ËÕ (Credit Scoring) ‡§√◊ËÕß¡◊Õ™’È§«“¡‡ ’Ë¬ß∑“ß‡§√¥‘µ¢ÕßºŸâ°Ÿâ

ë ·∫∫Õ¬à“ß§«“¡ ”‡√Á®„π°“√∫√‘À“√∑√—æ¬“°√∫ÿ§§≈ ª√–®”ªï 2553

√“ß«—≈™¡‡™¬¥â“π°“√æ—≤π“√–∫∫∫√‘À“√º≈°“√ªØ‘∫—µ‘ß“π (Performance Management

Systems)

¢âÕ¡Ÿ≈Àπ’È “∏“√≥–¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

°‘®°√√¡¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–ª√–®”ªï 2553

∑”‡π’¬∫ºŸâ∫√‘À“√¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

PUBLIC DEBTMANAGEMENTOFFICE

CONTENTS61

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BACKGROUNDDEBT MANAGEMENTOFFICE

ª√–«—µ‘§«“¡‡ªìπ¡“¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

0908

”π—°ß“π∫√‘À“√Àπ’È “∏“√≥– ( ∫π.) ®—¥µ—Èß

¢÷Èπµ“¡¡µ‘§≥–√—∞¡πµ√’ ‡¡◊ËÕ«—π∑’Ë 1 µÿ≈“§¡ 2542

‚¥¬„π√–¬–·√° ¡’ ∂“π–‡ªìπÀπà«¬ß“π„π —ß°—¥

”π—°ß“πª≈—¥°√–∑√«ß°“√§≈—ß °àÕπ®–‰¥â√—∫°“√¬°

√–¥—∫‡ªìπ à«π√“™°“√„π√–¥—∫°√¡ —ß°—¥°√–∑√«ß

°“√§≈—ß ‚¥¬ ¡∫Ÿ√≥åµ“¡æ√–√“™∫—≠≠—µ‘ª√—∫ª√ÿß

°√–∑√«ß ∑∫«ß °√¡ æ.». 2545 ‚¥¬‰¥â√«¡ß“π¢Õß

2 Àπà«¬ß“π‡¢â“¥â«¬°—π ‰¥â·°à ”π—°ß“π‡»√…∞°‘®

°“√§≈—ß„π à«π¢Õß°Õßπ‚¬∫“¬‡ß‘π°Ÿâ °Õßπ‚¬∫“¬

‡ß‘π°Ÿâµ≈“¥‡ß‘π∑ÿπ °Õß‚§√ß°“√≈ß∑ÿπ‡æ◊ËÕ —ß§¡ »Ÿπ¬å

¢âÕ¡Ÿ≈∑’Ëª√÷°…“‰∑¬ ·≈–°√¡∫—≠™’°≈“ß„π à«πß“π

Àπ’È “∏“√≥–·≈–‡ß‘π§ß§≈—ß ·≈–°≈ÿà¡«‘‡§√“–Àå

Àπ’È “∏“√≥–·≈–‡ß‘π§ß§≈—ß °“√√«¡ß“π¢Õß

2 Àπà«¬ß“π ¢â“ßµâπ‡¢â“‰«â¥â«¬°—π°Á‡æ◊ËÕ √â“ß§«“¡

‡ªìπ‡Õ°¿“æ„π°“√∫√‘À“√®—¥°“√ Àπ’È “∏“√≥–¢Õß

ª√–«—µ‘§«“¡‡ªìπ¡“¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–BACKGROUNDDEBT MANAGEMENT OFFICE

The Public Debt Management Office (PDMO)

was established on 1st October 1999. The PDMO

Department (CGD) Establ ishing PDMO as

a special ized entity overseeing publ ic debt

management operations was necessary in order to

borrow and manage public debt in a more swift and

efficient manner.

ª√–‡∑» ‚¥¬¡’Àπâ“∑’Ë§«“¡√—∫º‘¥™Õ∫„π°“√∫√‘À“√

®—¥°“√Àπ’È¢Õßª√–‡∑»‡∫Á¥‡ √Á® ‡æ’¬ßÀπà«¬ß“π‡¥’¬«

∑—Èßπ’È ‡æ◊ËÕ„Àâ°“√¥”‡π‘π°“√‡ªìπ‰ªÕ¬à“ß¡’√–∫∫

¡’ª√– ‘∑∏‘¿“æ·≈– “¡“√∂§«∫§ÿ¡¥Ÿ·≈ °“√°àÕÀπ’È

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Õ¥§≈âÕß°—∫∞“π–°“√‡ß‘π°“√§≈—ß¢Õßª√–‡∑» ·≈–

„πªïß∫ª√–¡“≥ æ.». 2551 ∫π. ‰¥â∑∫∑«π∫∑∫“∑

·≈–ª√—∫ª√ÿß°“√·∫àß à«π√“™°“√¿“¬„π ‡æ◊ËÕ√Õß√—∫

°√–∫«π°“√ ·≈–·π«∑“ß°“√¥”‡π‘πß“π ‚¥¬¬÷¥

À≈—°‡°≥±å„ÀâºŸâ√—∫∫√‘°“√µâÕß‰¥â√—∫§«“¡ –¥«°

√«¥‡√Á«·≈–§«“¡æ÷ßæÕ„® ´÷Ëß Õ¥§≈âÕß°—∫∑‘»∑“ß

°“√ªØ‘∫—µ‘√“™°“√·π«„À¡à

«‘ —¬∑—»πå‡ªìπ¡◊ÕÕ“™’æ„π°“√∫√‘À“√Àπ’È “∏“√≥– ‡æ◊ËÕ

°“√æ—≤π“ª√–‡∑»Õ¬à“ß¬—Ëß¬◊π

§à“π‘¬¡‚ª√àß„ «‘π—¬¥’ ¡’‡§√¥‘µ ¢—∫‡§≈◊ËÕπ‡»√…∞°‘®·≈–

—ß§¡

Vision

A professional in public debt management, with

the goal of fostering Thailandûs sustainable economic

and social development.

Values

Transparency

Discipline

Trustworthiness

Driving Social and Economic Development

11

æ—π∏°‘®µ“¡°ÆÀ¡“¬/¿“√°‘®À≈—°¢ÕßÀπà«¬ß“π

∫√‘À“√Àπ’È “∏“√≥–µ“¡°ÆÀ¡“¬«à“¥â«¬°“√

∫√‘À“√Àπ’È “∏“√≥–‚¥¬°“√«“ß·ºπ°”°—∫ ·≈–

¥”‡π‘π°“√°àÕÀπ’È §È”ª√–°—π ·≈–ª√—∫‚§√ß √â“ßÀπ’È

¢Õß√—∞∫“≈ Àπà«¬ß“π„π°”°—∫¥Ÿ·≈¢Õß√—∞ Õß§å°√

ª°§√Õß à«π∑âÕß∂‘Ëπ ·≈–√—∞«‘ “À°‘® ´÷Ëß√«¡∑—Èß°“√

™”√–Àπ’È¢Õß√—∞∫“≈ ·≈–°“√µ‘¥µ“¡·≈–ª√–‡¡‘π

º≈°“√¥”‡π‘πß“π ‡æ◊ËÕ„Àâ°“√∫√‘À“√Àπ’È “∏“√≥–

‡ªìπ‰ªÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ ·≈–‡ √‘¡ √â“ß§«“¡

¬—Ëß¬◊π∑“ß°“√§≈—ß·≈–°“√æ—≤π“‡»√…∞°‘®

ª√–‡¥Áπ¬ÿ∑∏»“ µ√åë ∫√‘À“√®—¥°“√Àπ’È “∏“√≥–„π‡™‘ß√ÿ°

ë æ—≤π“µ≈“¥µ√“ “√Àπ’È„Àâ‡ªìπ‡ “À≈—°∑“ß°“√‡ß‘π

‡æ◊ËÕ‡ √‘¡ √â“ß§«“¡·¢Áß·°√àß¢Õß√–∫∫°“√‡ß‘π

ë æ—≤π“Õß§å°√„Àâ‡¢â¡·¢Áß·≈–¡’ª√– ‘∑∏‘¿“æ

10

Mission

Formulate sound public debt management policies

and strategies as well as conduct, monitor and

evaluate public debt management operations under

the relevant legal framework and guidelines.

Strategy

ë Pro-actively Manage Public Debt.

ë Develop Domestic Bond Market to be a sustainable

source of funding for the stability of Thailandûs

financial system.

ë Foster Strong and Effective Organization.

‡ªÑ“ª√– ß§å1. ·ºπ°“√∫√‘À“√Àπ’È “∏“√≥– ¡’§«“¡™—¥‡®π

Õ¥§≈âÕß°—∫∑‘»∑“ß°“√æ—≤π“ª√–‡∑»µ“¡

π‚¬∫“¬√—∞∫“≈

2. °“√∫√‘À“√Àπ’È “∏“√≥–„Àâ¡’µâπ∑ÿπ∑’Ë‡À¡“– ¡

·≈–Õ¬Ÿà¿“¬„µâ°√Õ∫§«“¡‡ ’Ë¬ß∑’Ë¬Õ¡√—∫‰¥â

3. ™”√–Àπ’È„Àâ∂Ÿ°µâÕß §√∫∂â«π·≈–µ√ßµ“¡°”Àπ¥

‡«≈“ºŸâ√—∫∫√‘°“√·≈–ºŸâ¡’ à«π‰¥â

4. ºŸâ√—∫∫√‘°“√·≈–ºŸâ¡’ à«π‰¥â à«π‡ ’¬¡’§«“¡æ÷ßæÕ„®

5. ·À≈àß√–¥¡∑ÿπ∑’Ë¬—Ëß¬◊π„πª√–‡∑»

6. ¡’°“√ÕÕ°æ—π∏∫—µ√√—∞∫“≈Õ¬à“ß ¡Ë”‡ ¡Õ ‡æ◊ËÕ

√â“ßÕ—µ√“¥Õ°‡∫’È¬Õâ“ßÕ‘ß ·≈– ¿“æ§≈àÕß„π

µ≈“¥√Õß

7. ¡’°“√æ—≤π“º≈‘µ¿—≥±å∑’ËÀ≈“°À≈“¬‡æ◊ËÕ√Õß√—∫

§«“¡µâÕß°“√¢Õßπ—°≈ß∑ÿπ

8. ¡’√–∫∫¢âÕ¡Ÿ≈·≈–‡∑§‚π‚≈¬’ “√ π‡∑»∑’Ë∑—π ¡—¬

·≈– √â“ß§«“¡‡™◊ËÕ¡‚¬ß„π°“√∑”ß“π

9. ¡’√–∫∫°“√∫√‘À“√ß“π·≈–√–∫∫∑√—æ¬“°√∫ÿ§§≈

∑’Ë¡’ª√– ‘∑∏‘¿“æ

10. ∫ÿ§≈“°√¡’§«“¡√Ÿâ §«“¡ “¡“√∂ ¡’§«“¡‡ªìπ

¡◊ÕÕ“™’æ

11. ¡’ ∂“π∑’Ë„π°“√¥”‡π‘πß“π ∑’Ë‡À¡“– ¡°—∫ ¿“æ

¢ÕßÕß§å°√·≈–∫ÿ§≈“°√

Objectives

1. Public Debt Management Plan is clear and

consistent with the direction of the Government

Development Policy.

2. Optimise cost of funding under acceptable risk level.

3. Accurate and timely debt repayment.

4. Maintain Stakeholdersû satisfaction.

5. Sustainable Domestic Source of Funding.

6. Regular Benchmark Bond Issuance for the

purpose of reliable Government Band Yield Curve

and enhanced liquidity in the Secondary Market.

7. Develop New Products and to serve investorûs

need.

8. Effective Data and Information System.

9. Effective workflow and Human Resource

Management.

10. Highly Capable and Professional Personnel.

11. Modern and stimulating Workplace.

13

°≈¬ÿ∑∏å1. ∫√‘À“√®—¥°“√Àπ’È “∏“√≥–„π‡™‘ß√ÿ°

2. „Àâ§”ª√÷°…“·π–π”∑“ß¥â“π¢âÕ¡Ÿ≈·≈–«‘™“°“√

√«¡∂÷ß°“√ª√–™“ —¡æ—π∏å √â“ß§«“¡‡¢â“„®¥â“π

Àπ’È “∏“√≥–„π‡™‘ß√ÿ°

3. æ—≤π“ß“π«‘®—¬·≈–«‘™“°“√‡æ◊ËÕ π—∫ πÿπ°“√

∫√‘À“√®—¥°“√Àπ’È “∏“√≥–

4. æ—≤π“‚§√ß √â“ßæ◊Èπ∞“πµ≈“¥µ√“ “√Àπ’È

5. æ—≤π“º≈‘µ¿—≥±åµ√“ “√Àπ’È„Àâ¡’§«“¡À≈“°À≈“¬

¡’π«—µ°√√¡∑“ß°“√‡ß‘π∑’Ë„™â„πµ≈“¥ “°≈ ·≈–

Õ¥§≈âÕß°—∫§«“¡µâÕß°“√¢Õßπ—°≈ß∑ÿπ

6. æ—≤π“√–∫∫¢âÕ¡Ÿ≈·≈–‡∑§‚π‚≈¬’ “√ π‡∑»

7. æ—≤π“√–∫∫∫√‘À“√ß“π·≈–√–∫∫∑√—æ¬“°√∫ÿ§§≈

8. æ—≤π“∫ÿ§≈“°√„Àâ¡’§«“¡√Ÿâ §«“¡ “¡“√∂ ·≈–

¡’§«“¡‡ªìπ¡◊ÕÕ“™’æ

Strategic Implementation Plan

1. Pro-actively Manage Public Debt.

2. Promote understanding and Provide consultation

on pro-active public debt management strategies.

3. Develop research in public debt management.

4. Develop Domestic Bond Market Infrastructure.

5. Develop new diversified products that both deepen

the development of Thailandûs domestic bond

market and serve needs of investors.

6. Enhance Data and Information System.

7. Enhance Workflow and Human Resource

Management System.

8. Enhance personnelû capabilities and professionalism.

12

‚§√ß √â“ß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

”π—°π‚¬∫“¬·≈–·ºπ

”π—°∫√‘À“√°“√™”√–Àπ’È

”π—°ß“π‡≈¢“πÿ°“√°√¡

”π—°®—¥°“√Àπ’È 1

”π—°æ—≤π“µ≈“¥µ√“ “√Àπ’È

à«ππ‚¬∫“¬·≈–·ºπ

ºŸâ‡™’Ë¬«™“≠‡©æ“–¥â“π∫√‘À“√°“√™”√–Àπ’È

ΩÉ“¬∫√‘À“√ß“π∑—Ë«‰ª

ºŸâ‡™’Ë¬«™“≠‡©æ“–¥â“π

‚§√ß°“√‡ß‘π°Ÿâ

à«πæ—≤π“µ≈“¥µ√“ “√Àπ’È√—∞∫“≈

à«π§«“¡√à«¡¡◊Õ√–À«à“ßª√–‡∑»

à«π«‘‡§√“–Àå·ºπ°“√∫√‘À“√§«“¡‡ ’Ë¬ß

à«π«‘®—¬π‚¬∫“¬Àπ’È “∏“√≥–

à«π∫√‘À“√°“√™”√–Àπ’È„πª√–‡∑»

à«π∫√‘À“√°“√™”√–Àπ’Èµà“ßª√–‡∑»

à«π∫√‘À“√‡ß‘π°Õß∑ÿπ

ΩÉ“¬§≈—ß

ΩÉ“¬æ— ¥ÿ

ΩÉ“¬°“√‡®â“Àπâ“∑’Ë

ΩÉ“¬ª√–™“ —¡æ—π∏å

à«π®—¥°“√‡ß‘π°Ÿâ√—∞∫“≈ 1

à«π®—¥°“√‡ß‘π°Ÿâ√—∞∫“≈ 2

à«π®—¥°“√‡ß‘π°Ÿâ√—∞∫“≈ 3

à«π®—¥°“√‡ß‘π°ŸâÀπà«¬ß“πÕ◊Ëπ

à«π∫√‘À“√°Õß∑ÿπ·≈–æ—≤π“‚§√ß √â“ß

æ◊Èπ∞“π

à«ππ‚¬∫“¬µ≈“¥µ√“ “√Àπ’È√–À«à“ßª√–‡∑»

√ÕßºŸâÕ”π«¬°“√ ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

∑’Ëª√÷°…“¥â“πÀπ’È “∏“√≥–

ºŸâ‡™’Ë¬«™“≠‡©æ“–¥â“πÀπ’È “∏“√≥–·≈–‡ß‘π§ß§≈—ß

ºŸâÕ”π«¬°“√ ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

1514

»Ÿπ¬å‡∑§‚π‚≈¬’ “√ π‡∑»

à«π∫√‘À“√®—¥°“√‡ß‘π°Ÿâµà“ßª√–‡∑»

√—∞«‘ “À°‘®

ºŸâ‡™’Ë¬«™“≠‡©æ“–¥â“π∫√‘À“√

Àπ’È “∏“√≥–·≈–¿“√–ºŸ°æ—π

à«π«‘‡§√“–Àåπ‚¬∫“¬·≈–·ºπ

“√ π‡∑»

à«π∫√‘À“√®—¥°“√‡ß‘π°Ÿâ„πª√–‡∑»

√—∞«‘ “À°‘®

à«π‡ß‘π°Ÿâµ≈“¥‡ß‘π∑ÿπµà“ßª√–‡∑»·≈–°“√®—¥Õ—π¥—∫§«“¡πà“‡™◊ËÕ∂◊Õ

à«π∫√‘À“√®—¥°“√‡ß‘π„Àâ°ŸâµàÕ·≈–°“√™”√–Àπ’È

√—∞«‘ “À°‘®

à«ππ‚¬∫“¬·≈–·ºπ°“√√–¥¡∑ÿπ

à«π«‘‡§√“–Àå·≈–®—¥°“√‡ß‘π∑ÿπ‚§√ß°“√ 1

à«π«‘‡§√“–Àå·≈–®—¥°“√‡ß‘π∑ÿπ‚§√ß°“√ 2

»Ÿπ¬å¢âÕ¡Ÿ≈∑’Ëª√÷°…“‰∑¬

à«π∫√‘À“√√–∫∫¢âÕ¡Ÿ≈ “√ π‡∑»

√ÕßºŸâÕ”π«¬°“√ ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

°≈ÿà¡µ√«® Õ∫¿“¬„π

À¡“¬‡Àµÿ : ªØ‘∫—µ‘ß“π®√‘ß

°≈ÿà¡æ—≤π“√–∫∫∫√‘À“√

”π—°®—¥°“√Àπ’È 2

”π—°∫√‘À“√°“√√–¥¡∑ÿπ‚§√ß°“√

≈ß∑ÿπ¿“§√—∞

°≈àÿ¡°ÆÀ¡“¬

®”π«π¢â“√“™°“√ ≥ 30 °—π¬“¬π 2553

ª√–‡¿∑µ”·Àπàß √–¥—∫µ”·Àπàß®”π«π§π

™“¬ À≠‘ß √«¡∫√‘À“√ Ÿß 1 - 1

µâπ 2 - 2

Õ”π«¬°“√ Ÿß 4 1 5

µâπ 1 1 2

«‘™“°“√ ∑√ß§ÿ≥«ÿ≤‘ 1 - 1

‡™’Ë¬«™“≠ 1 1 2

™”π“≠°“√æ‘‡»… 3 12 15

™”π“≠°“√ 13 34 47

ªØ‘∫—µ‘°“√ 16 36 52

∑—Ë«‰ª ™”π“≠ß“π 2 3 5

√«¡ 44 88 132

À¡“¬‡Àµÿ : ¢âÕ¡Ÿ≈ ≥ 30 °—π¬“¬π 2553 ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–¡’∫ÿ§≈“°√∑—Èß ‘Èπ 213 §π

ª√–°Õ∫¥â«¬ ¢â“√“™°“√ 132 §π æπ—°ß“π√“™°“√ 8 §π ·≈–≈Ÿ°®â“ß™—Ë«§√“« 73 §π

1716


§≥–ºŸâ∫√‘À“√¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

§≥–ºŸâ∫√‘À“√

2. π“¬ª√–«‘™ “√°‘®ª√’™“∑’Ëª√÷°…“¥â“πÀπ’È “∏“√≥–

3. π“¬ ÿ«‘™≠ ‚√®π«“π‘™√ÕßºŸâÕ”π«¬°“√ ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

4. π“¬∑«’ ‰Õ»Ÿ√¬åæ‘»“≈»‘√‘√ÕßºŸâÕ”π«¬°“√ ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

5. π“ßª√–¿“¥“ “√πÿ ‘µºŸâ‡™’Ë¬«™“≠‡©æ“–¥â“πÀπ’È “∏“√≥–·≈–‡ß‘π§ß§≈—ß

1

2 3 4

1. π“¬®—°√°ƒ»Ø‘Ï æ“√“æ—π∏°ÿ≈ºŸâÕ”π«¬°“√ ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

5

19

1

1. π“ß≈«“¥«√√≥ ∏π‘µµ‘√“¿√≥åºŸâÕ”π«¬°“√

§≥–ºŸâ∫√‘À“√ ”π—°®—¥°“√Àπ’È 1

2. π“¬≥√ß§å ·°â«‡»«µæ—π∏ÿåºŸâ‡™’Ë¬«™“≠‡©æ“–¥â“π‡ß‘π°Ÿâ‚§√ß°“√

3. π“ß “«√«’«√√≥ ∏“¥“¿“§¬åºŸâÕ”π«¬°“√ à«π®—¥°“√‡ß‘π°ŸâÀπà«¬ß“πÕ◊Ëπ

4. π“ß “«¬Õ¥‡¬“«¡“≈¬å ÿ§π∏æ—π∏ÿåºŸâÕ”π«¬°“√ à«π®—¥°“√‡ß‘π°Ÿâ√—∞∫“≈ 2

5. π“¬∂“«√ ‡ √’ª√–¬Ÿ√ºŸâÕ”π«¬°“√ à«π®—¥°“√‡ß‘π°Ÿâ√—∞∫“≈ 1

6. π“¬¬ÿ∑∏æß»å ‡Õ’Ë¬¡·®âßªØ‘∫—µ‘Àπâ“∑’ËºŸâÕ”π«¬°“√ à«π®—¥°“√‡ß‘π°Ÿâ√—∞∫“≈ 3

18

2 3 4 5 6

§≥–ºŸâ∫√‘À“√ ”π—°®—¥°“√Àπ’È 2

1. π“ß “«»‘√ “ °—πµåæ‘∑¬“ºŸâÕ”π«¬°“√

2. π“ß ÿ≥’ ‡Õ° ¡∑√“‡¡…∞åºŸâÕ”π«¬°“√ à«π∫√‘À“√®—¥°“√‡ß‘π°Ÿâµà“ßª√–‡∑»√—∞«‘ “À°‘®

3. π“ß “«‡∫≠®¡“»† ‡√◊ÕßÕ”π“®ºŸâÕ”π«¬°“√ à«π∫√‘À“√®—¥°“√‡ß‘π°Ÿâ„πª√–‡∑»√—∞«‘ “À°‘®

4. π“ß™π—π¿√≥å æ‘»‘…∞«“π‘™ºŸâÕ”π«¬°“√ à«π‡ß‘π°Ÿâµ≈“¥‡ß‘π∑ÿπµà“ßª√–‡∑»·≈–°“√®—¥√–¥—∫§«“¡πà“‡™◊ËÕ∂◊Õ

5. π“ßªí≥±“√’¬å† »√’·°â«æ—π∏åºŸâÕ”π«¬°“√ à«π∫√‘À“√®—¥°“√‡ß‘π„Àâ°ŸâµàÕ·≈–°“√™”√–Àπ’È√—∞«‘ “À°‘®

2 3 4 5

1

21§≥–ºŸâ∫√‘À“√ ”π—°π‚¬∫“¬·≈–·ºπ

2. π“¬‡Õ°√“™ ‡¢◊ËÕπ¢—π∏å ∂‘µ¬åºŸâÕ”π«¬°“√ à«ππ‚¬∫“¬·≈–·ºπ

3. π“ß “« ‘√‘¿“ —µ¬“ππ∑åºŸâÕ”π«¬°“√ à«π§«“¡√à«¡¡◊Õ√–À«à“ßª√–‡∑»

4. π“¬∞‘µ‘‡∑æ ‘∑∏‘¬»ºŸâÕ”π«¬°“√ à«π«‘‡§√“–Àå·ºπ°“√∫√‘À“√§«“¡‡ ’Ë¬ß

5. π“ß “«√“π’†Õ‘∞√—µπåªØ‘∫—µ‘Àπâ“∑’ËºŸâÕ”π«¬°“√ à«π«‘®—¬π‚¬∫“¬Àπ’È “∏“√≥–

20

2 3 4 5

1

1. π“¬∏“¥“ æƒ≤‘∏“¥“ºŸâÕ”π«¬°“√

§≥–ºŸâ∫√‘À“√ ”π—°æ—≤π“µ≈“¥µ√“ “√Àπ’È

1. π“¬«‘ ÿ∑∏‘Ï ®—π¡≥’ºŸâÕ”π«¬°“√

2. π“ß “«æ‘¡æå‡æÁ≠ ≈—¥æ≈’ºŸâÕ”π«¬°“√ à«πæ—≤π“µ≈“¥µ√“ “√Àπ’È√—∞∫“≈

3. π“¬≥—∞°“√ ∫ÿ≠»√’ºŸâÕ”π«¬°“√ à«π∫√‘À“√°Õß∑ÿπ·≈–æ—≤π“‚§√ß √â“ßæ◊Èπ∞“π

4. π“ß©—µ√¡≥’† ‘π ‘√‘ªØ‘∫—µ‘Àπâ“∑’ËºŸâÕ”π«¬°“√ à«ππ‚¬∫“¬µ≈“¥µ√“ “√Àπ’È√–À«à“ßª√–‡∑»

1

2 3 4

23§≥–ºŸâ∫√‘À“√ ”π—°°“√∫√‘À“√°“√™”√–Àπ’È

2. π“ß ÿ¿‘≠≠“ »√’·°â«ºŸâÕ”π«¬°“√ à«π∫√‘À“√°“√™”√–Àπ’È„πª√–‡∑»

3. π“ß “«™‘¥™‰¡ ‰¡µ√’ºŸâÕ”π«¬°“√ à«π∫√‘À“√°“√™”√–Àπ’Èµà“ßª√–‡∑»

4. π“ßæ√æ‘¡≈ ∫ÿππ“§ªØ‘∫—µ‘Àπâ“∑’ËºŸâÕ”π«¬°“√ à«π∫√‘À“√‡ß‘π°Õß∑ÿπ

22

2 3 4

1

1. π“¬‡Õ¥ «‘∫Ÿ≈¬å‡®√‘≠ºŸâÕ”π«¬°“√

§≥–ºŸâ∫√‘À“√ ”π—°∫√‘À“√°“√√–¥¡∑ÿπ‚§√ß°“√≈ß∑ÿπ¿“§√—∞

1. π“¬∏’√—™¬å Õ—µπ«“π‘™ºŸâÕ”π«¬°“√

2. π“ß®‘π¥“√—µπå «‘√‘¬–∑«’°ÿ≈ºŸâ‡™’Ë¬«™“≠‡©æ“–¥â“π∫√‘À“√Àπ’È “∏“√≥–·≈–¿“√–ºŸ°æ—π

3. π“ß “«Õ√ÿ≥«√√≥ ¬¡®‘π¥“ºŸâÕ”π«¬°“√ à«π«‘‡§√“–Àå·≈–®—¥°“√‡ß‘π∑ÿπ‚§√ß°“√ 2

4. π“ß “«Õ—≠®π“ «ß»å «à“ßºŸâÕ”π«¬°“√ à«π«‘‡§√“–Àå·≈–®—¥°“√‡ß‘π∑ÿπ‚§√ß°“√ 1

5. π“ßÕπß§åπ“Ø ‚¡√“ ÿ¢ºŸâÕ”π«¬°“√»Ÿπ¬å¢âÕ¡Ÿ≈∑’Ëª√÷°…“‰∑¬

6. π“ß “«Õÿª¡“ „®Àß…åºŸâÕ”π«¬°“√ à«ππ‚¬∫“¬·≈–·ºπ°“√√–¥¡∑ÿπ

2 3 4 5 6

1

25

1. π“¬∏’√≈—°…å · ß π‘∑‡≈¢“πÿ°“√°√¡

§≥–ºŸâ∫√‘À“√ ”π—°ß“π‡≈¢“πÿ°“√°√¡

2. π“ß “«‡∑’¬¡®—π∑√å ª√–‡ √‘∞º≈À—«Àπâ“ΩÉ“¬§≈—ß

3. π“ß “« ÿæ√√≥æ‘¡æå ∫ÿ≠∑‘æ¬åÀ—«Àπâ“ΩÉ“¬∫√‘À“√ß“π∑—Ë«‰ª

4. π“ß‡ “«√ ’«√√≥åÀ—«Àπâ“ΩÉ“¬æ— ¥ÿ

5. π“ß√ÿàß√–«’ √ÿ°‡¢µÀ—«Àπâ“ΩÉ“¬°“√‡®â“Àπâ“∑’Ë

24

1

2 3 4 5

§≥–ºŸâ∫√‘À“√»Ÿπ¬å‡∑§‚π‚≈¬’ “√ π‡∑»

1. π“ß “««√“¿√≥å ªí≠≠»‘√‘ºŸâÕ”π«¬°“√»Ÿπ¬å‡∑§‚π‚≈¬’ “√ π‡∑»

2. π“¬«»‘π ™Ÿ®‘µ√“√¡¬åºŸâÕ”π«¬°“√ à«π∫√‘À“√√–∫∫¢âÕ¡Ÿ≈ “√ π‡∑»

3. π“¬§√√™‘µ æ–≈—ßªØ‘∫—µ‘Àπâ“∑’ËºŸâÕ”π«¬°“√ à«π«‘‡§√“–Àåπ‚¬∫“¬·≈–·ºπ “√ π‡∑»

2 3

1

27

1. π“ß “«æ√∑‘æ¬å æ—π‡≈‘»¬Õ¥¬‘ËßºŸâÕ”π«¬°“√°≈ÿà¡æ—≤π“√–∫∫∫√‘À“√

§≥–ºŸâ∫√‘À“√°≈ÿà¡æ—≤π“√–∫∫∫√‘À“√

26

1

§≥–ºŸâ∫√‘À“√°≈ÿà¡µ√«® Õ∫¿“¬„π

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º≈°“√ªØ‘∫—µ‘√“™°“√¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

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°“√∫√‘À“√Àπ’È “∏“√≥–ª√–®”ªïß∫ª√–¡“≥

1. °“√∫√‘À“√®—¥°“√Àπ’È “∏“√≥–„π¿“æ√«¡

„πªïß∫ª√–¡“≥ 2553 ”π—°ß“π∫√‘À“√Àπ’È

“∏“√≥– ( ∫π.) ‰¥â¥”‡π‘π°“√µ“¡¿“√°‘®∑’Ë ”§—≠

„πÀ≈“¬¥â“π‚¥¬πÕ°®“°®–®—¥À“‡ß‘π°Ÿâ„Àâ Õ¥§≈âÕß

°—∫§«“¡µâÕß°“√¢Õß√—∞∫“≈ ·≈–√—∞«‘ “À°‘®·≈â« ∫π.

¬—ß‰¥â®—¥À“‡ß‘π°Ÿâ‡æ◊ËÕ„™â π—∫ πÿπ°“√¥”‡π‘π¡“µ√°“√

øóôπøŸ‡»√…∞°‘®µ“¡π‚¬∫“¬¢Õß√—∞∫“≈¿“¬„µâ·ºπ

ªØ‘∫—µ‘°“√‰∑¬‡¢â¡·¢Áß 2555 ∑—Èßπ’È ¿“√°‘®¥—ß°≈à“«

®”‡ªìπµâÕß¥”‡π‘π°“√§«∫§Ÿà‰ª°—∫°“√∫√‘À“√·≈–

®—¥°“√Àπ’È “∏“√≥–„ÀâÕ¬Ÿà„π√–¥—∫∑’Ë¡’‡ ∂’¬√¿“æ

¿“¬„µâ°√Õ∫§«“¡¬—Ëß¬◊π∑“ß°“√§≈—ß¢Õßª√–‡∑»

‡æ◊ËÕ„Àâ “¡“√∂®—¥À“·À≈àß‡ß‘π°Ÿâ ·≈–∫√‘À“√µâπ∑ÿπ

°“√°Ÿâ‡ß‘π„Àâ‡À¡“– ¡°—∫ ¿“«°“√≥å¢Õßµ≈“¥°“√‡ß‘π

·≈–Õ¬Ÿà¿“¬„µâ°√Õ∫§«“¡‡ ’Ë¬ß∑’Ë‡À¡“– ¡ ”À√—∫

°“√¥”‡π‘π°“√„πªïß∫ª√–¡“≥ 2553 ∫π. ‰¥â®—¥À“

‡ß‘π°Ÿâ„Àâ°—∫√—∞∫“≈‡æ◊ËÕ„™â„π«—µ∂ÿª√– ß§å ”§—≠ ‡™àπ

°“√°Ÿâ‡ß‘π‡æ◊ËÕ™¥‡™¬°“√¢“¥¥ÿ≈ß∫ª√–¡“≥·≈–°√≥’

√“¬®à“¬ Ÿß°«à“√“¬‰¥â °“√°Ÿâ‡ß‘πµ“¡æ√–√“™°”Àπ¥

„ÀâÕ”π“®°√–∑√«ß°“√§≈—ß°Ÿâ ‡ß‘π‡æ◊ËÕøóôπøŸ·≈–

‡ √‘¡ √â“ß§«“¡¡—Ëπ§ß∑“ß‡»√…∞°‘® æ.». 2552 ‡æ◊ËÕ

π—∫ πÿπ‚§√ß°“√≈ß∑ÿπ¿“¬„µâ·ºπªØ‘∫—µ‘°“√

‰∑¬‡¢â¡·¢Áß 2555 √«¡∂÷ß°“√®—¥À“‡ß‘π°Ÿâ„Àâ°—∫

√—∞«‘ “À°‘®‡æ◊ËÕ¥”‡π‘π‚§√ß°“√≈ß∑ÿπ ·≈–„™â®à“¬µ“¡

·ºπ°“√¥”‡π‘πß“π¢Õß√—∞«‘ “À°‘® „π°“√π’È ∫π.

¬ÿ∑∏»“ µ√å∑’Ë 1°“√∫√‘À“√®—¥°“√Àπ’È “∏“√≥–„π‡™‘ß√ÿ°Strategy 1:Pro-active Debt Management

Public Debt Management in the

fiscal year (FY) 2010

1. Overview of Public Debt Management

In FY 2010, the Public Debt Management

Office (PDMO) has successfully obtained the

necessary funding for the government and State Owned

Enterprises (SOEs) including the funding to support

the Stimulus Package II or the so-called Thai Khem

Kaeng, while maintaining the debt level within the

fiscal sustainability framework. PDMO has provided

the sufficient sources of fund to the government

and SOEs with the appropriated costs within the

appropriated risk framework ... the financial market

environment. The borrowings for this year included

the funding for government budget deficit, government

stimulus packages, SOEsû investment projects

30

‰¥â¥”‡π‘π°“√∫√‘À“√Àπ’È “∏“√≥–‡™‘ß√ÿ°¥â«¬«‘∏’°“√

∑’Ë‡À¡“– ¡ ¿“¬„µâ¿“«–µ≈“¥°“√‡ß‘π∑’Ë‡Õ◊ÈÕÕ”π«¬

∑—Èß°“√™”√–Àπ’È§◊π°àÕπ∂÷ß°”Àπ¥™”√– °“√¢¬“¬

√–¬–‡«≈“‡ß‘π°Ÿâ ´÷Ëß∑”„Àâ “¡“√∂≈¥¬Õ¥Àπ’È§ß§â“ß‰¥â

78,449.01 ≈â“π∫“∑ ·≈–≈¥¿“√–¥Õ°‡∫’È¬‰¥â 1,754.33

≈â“π∫“∑ ‚¥¬√“¬≈–‡Õ’¬¥°“√∫√‘À“√®—¥°“√Àπ’È

“∏“√≥–„πªïß∫ª√–¡“≥ 2553 ¡’¥—ßπ’È

µ“√“ß∑’Ë 1 °“√∫√‘À“√®—¥°“√Àπ’È “∏“√≥– ¿“¬„πªïß∫ª√–¡“≥ 2553

Table 1: Public debt management in FY 2010

Àπà«¬ : ≈â“π∫“∑ / Unit : Million Baht

Àπà«¬ß“π º≈°“√¥”‡π‘πß“π

Organisations Items

°“√°àÕÀπ’È„À¡à °“√∫√‘À“√Àπ’È √«¡

New Borrowing Debt Management Total

- √—∞∫“≈ / Government 523,225.66 534,171.02 1,057,396.68

- √—∞«‘ “À°‘® / SOEs 124,824.49 273,092.18 361,916.67

√«¡ / Total 648,050.15 771,263.20 1,419,313.35

2. °“√∫√‘À“√®—¥°“√Àπ’È “∏“√≥–„πª√–‡∑»

2.1 °“√°Ÿâ‡ß‘π„À¡à :

1) °“√°Ÿâ‡ß‘π„À¡à¢Õß√—∞∫“≈

∫π. ‰¥â®—¥À“‡ß‘π°Ÿâ‡æ◊ËÕ√Õß√—∫°“√

„™â®à“¬¢Õß√—∞∫“≈ ·≈–‡æ◊ËÕ‡ªìπ·À≈àß‡ß‘π∑ÿπ ”À√—∫

„™â¥”‡π‘π°“√µ“¡·ºπªØ‘∫—µ‘°“√‰∑¬‡¢â¡·¢Áß 2555

‚¥¬¡’√“¬≈–‡Õ’¬¥ ¥—ßπ’È

ë °Ÿâ ‡ ß‘ π ‡ æ◊Ë Õ ™ ¥ ‡ ™ ¬ ° “ √ ¢ “ ¥ ¥ÿ ≈

ß∫ª√–¡“≥·≈–°√≥’√“¬®à“¬ Ÿß°«à“√“¬‰¥â ®”π«π

232,575.46 ≈â“π∫“∑ ‚¥¬ÕÕ°æ—π∏∫—µ√√—∞∫“≈

«ß‡ß‘π√«¡ 232,572.00 ≈â“π∫“∑ ·≈–æ—π∏∫—µ√

ÕÕ¡∑√—æ¬å «ß‡ß‘π 3.46 ≈â“π∫“∑

and other operations. To manage the public debt

pro-actively, PDMO has implemented various debt

management strategies such as prepayment, refinance

and rollover. As a result, the public debt reduced by

78,449.01 million Baht and the interest burden by

1,754.33 million Baht. Details of the public debt

management in FY 2010 are outlined as follows:

2. Domestic Debt Management

2.1 New Borrowing:

1) Government New Borrowing

PDMO acquired necessary funds to

finance the government expenditure and support the

Stimulus Package II. The details of the governmentûs

new domestic borrowings in FY 2010 are as follows:

ë Borrowed 232,575.46 million Baht

to finance budget deficit and revenue shortfall by

issuing 232,572 million Baht of the government loan

bonds and 3.46 million Baht of government saving

bonds.

3332ë °Ÿâ‡ß‘πµ“¡æ√–√“™°”Àπ¥„ÀâÕ”π“®

°√–∑√«ß°“√§≈—ß°Ÿâ‡ß‘π‡æ◊ËÕøóôπøŸ·≈–‡ √‘¡ √â“ß§«“¡

¡—Ëπ§ß∑“ß‡»√…∞°‘® æ.». 2552 ‚¥¬°“√∑” —≠≠“

°Ÿâ‡ß‘π·∫∫ Term - Loan ®“° ∂“∫—π°“√‡ß‘π ‡æ◊ËÕ

π—∫ πÿπ·ºπªØ‘∫—µ‘°“√‰∑¬‡¢â¡·¢Áß 2555 ®”π«π

260,000 ≈â“π∫“∑

2) °“√°Ÿâ‡ß‘π„À¡à¢Õß√—∞«‘ “À°‘®

∫π. ‰¥âæ‘®“√≥“®—¥À“‡ß‘π°Ÿâ„Àâ°—∫

√—∞«‘ “À°‘®®“°·À≈àß‡ß‘π°Ÿâ∑’Ë¡’‡ß◊ËÕπ‰¢ ·≈–µâπ∑ÿπ

∑’Ë‡À¡“– ¡‡æ◊ËÕ„Àâ√—∞«‘ “À°‘®¡’·À≈àß‡ß‘π∑ÿπ‡æ’¬ßæÕ

µàÕ°“√„™â®à“¬µ≈Õ¥®π°“√¥”‡π‘π‚§√ß°“√/·ºπß“π

‰¥âÕ¬à“ßµàÕ‡π◊ËÕß ‚¥¬„πªïß∫ª√–¡“≥ 2553

√—∞«‘ “À°‘®‰¥â≈ßπ“¡ºŸ°æ—π°“√°Ÿâ‡ß‘π ‡æ◊ËÕ«—µ∂ÿª√– ß§å

µà“ßÊ ‰¥â·°à (1) ‡ß‘π°Ÿâ„πª√–‡∑»∑¥·∑π‡ß‘π°Ÿâ®“°

µà“ßª√–‡∑» (2) ‡ß‘π°Ÿâ‡ß‘π∫“∑ ¡∑∫‚§√ß°“√‡ß‘π°Ÿâ„π

ª√–‡∑» (3) ‡ß‘π°Ÿâ‡æ◊ËÕ≈ß∑ÿπ ·≈– (4) ‡ß‘π°Ÿâ‡æ◊ËÕ¥”‡π‘π

°‘®°“√∑—Ë«‰ª ·≈–Õ◊ËπÊ √«¡ 77,590.40 ≈â“π∫“∑ ‚¥¬

¡’°“√°Ÿâ‡ß‘π∑’Ë ”§—≠ ‡™àπ °“√°Ÿâ‡ß‘π‡æ◊ËÕ¥”‡π‘π‚§√ß°“√

≈ß∑ÿπµà“ßÊ ¢Õß°“√‰øøÑ“π§√À≈«ß °“√‰øøÑ“ à«π

¿Ÿ¡‘¿“§ °“√ª√–ª“ à«π¿Ÿ¡‘¿“§ ‚§√ß°“√∑“ßæ‘‡»…

“¬∫“ßæ≈’- ÿ¢ «— ¥‘Ï°—∫∂ππ«ß·À«πÕÿµ “À°√√¡

‚§√ß°“√√–∫∫√∂‰øøÑ“„πæ◊Èπ∑’Ë°√ÿß‡∑æ¡À“π§√·≈–

ª√‘¡≥±≈ ™à«ß∫“ß´◊ËÕ-µ≈‘Ëß™—π ·≈–‚§√ß°“√°àÕ √â“ß

√–∫∫¢π àß∑“ß√∂‰ø‡™◊ËÕ¡∑à“Õ“°“»¬“π ÿ«√√≥¿Ÿ¡‘

‡ªìπµâπ

2.2 °“√∫√‘À“√Àπ’È :

1) °“√∫√‘À“√Àπ’È√—∞∫“≈

1.1) °“√ Roll-over µ—Î«‡ß‘π§≈—ß‡æ◊ËÕ

∫√‘À“√¥ÿ≈‡ß‘π ¥ «ß‡ß‘π 80,000 ≈â“π∫“∑ ·≈–µ—Î«‡ß‘π§≈—ß

‡æ◊ËÕ™¥‡™¬°“√¢“¥¥ÿ≈ß∫ª√–¡“≥∑’Ë – ¡¡“„π

™à«ßªïß∫ª√–¡“≥ 2542 - 2552 «ß‡ß‘π 76,746

≈â“π∫“∑ ∑—Èßπ’È „π à«π¢Õßµ—Î«‡ß‘π§≈—ß‡æ◊ËÕ™¥‡™¬

ë Borrowed 260,000 million Baht

under the Emergency Decree to support the Stimulus

Package II by signing the Term Loans with the

financial institutions.

2) SOEs New Borrowing

PDMO acquired necessary sources of

funding with appropriated cost and conditions to SOEs

for their continuous project implementations. In FY

2010, SOEs have signed the loan contracts of 77,590.40

million Baht for various purposes, i.e. (1) domestic

borrowing to substitute foreign borrowing (2) local cost

financing (3) project investments and (4) operational

and other expenses. The major projects are the

infrastructure investments by Metropolitan Electricity

Authority, Provincial Electricity Authority and Provincial

Waterworks Authority, Bangplee Suksawad

Expressway and the Outer Ring Expressway, the

Bang-sue - Talingchan Mass Transit and the

Suvarnabhumi Airport Link.

2.2 Debt Management

1) Government Debt Management

1.1) Rollover T-bill that borrowed for

cash management in the amount of 80,000 million

Baht and T-bill that borrowed for budget deficit during

FY 1999-2009 in the amount of 76,746 million Baht.

PDMO has converted the budget deficit T-bill to

long-term bonds in the amount of 124,254 million Baht.

As a result, the outstanding T-bill amount at the end

of FY 2010 was equalled to 156,746 million Baht.

1.2) Rollover the matured P/Ns by

issued the new P/Ns in the amount of 25,000 billion

Baht.

°“√¢“¥¥ÿ≈ß∫ª√–¡“≥∑’Ë – ¡¡“„π™à«ßªïß∫ª√–¡“≥

2542 - 2552 ‰¥â¥”‡π‘π°“√ª√—∫‚§√ß √â“ßÀπ’È‚¥¬

·ª≈ß‡ªìπæ—π∏∫—µ√√–¬–¬“« ®”π«π 124,254

≈â“π∫“∑ ∑—Èßπ’È ®“°°“√¥”‡π‘π°“√ Rol l -over

µ—Î«‡ß‘π§≈—ß∑”„Àâ ≥ ‘Èπªïß∫ª√–¡“≥ 2553 ¡’µ—Î«

‡ß‘π§≈—ßÀ¡ÿπ‡«’¬π„πµ≈“¥ ®”π«π 156,746 ≈â“π∫“∑

1.2) °“√ Roll-over µ—Î« —≠≠“„™â‡ß‘π

∑’Ë§√∫°”Àπ¥‰∂à∂Õπ «ß‡ß‘π√«¡ 25,000 ≈â“π∫“∑

‚¥¬ÕÕ°µ—Î« —≠≠“„™â ‡ß‘π‡æ◊ËÕ°“√∫√‘À“√Àπ’È°—∫

∂“∫—π°“√‡ß‘π

1.3) °“√„™âß∫ª√–¡“≥™”√–Àπ’È

§ß‡À≈◊Õ¢Õßªïß∫ª√–¡“≥ 2553 ‰∂à∂Õπæ—π∏∫—µ√

ÕÕ¡∑√—æ¬åæ‘‡»…·≈–µ—Î« —≠≠“„™â‡ß‘π «ß‡ß‘π√«¡

17,000 ≈â“π∫“∑ ·≈–„™â‡ß‘π§ß§≈—ß‰∂à∂Õπµ—Î« —≠≠“

„™â‡ß‘π°àÕπ§√∫°”Àπ¥ «ß‡ß‘π√«¡ 42,000 ≈â“π∫“∑

∑—Èßπ’È ´÷ËßÀ“°√«¡°—∫°“√„™âß∫ª√–¡“≥™”√–Àπ’È

§ß‡À≈◊Õ¢Õßªïß∫ª√–¡“≥ 2553 ‰∂à∂Õπµ—Î« —≠≠“

„™â‡ß‘π°àÕπ§√∫°”Àπ¥ «ß‡ß‘π√«¡ 18,500 ≈â“π∫“∑

∫π. “¡“√∂≈¥¬Õ¥Àπ’È§ß§â“ß‰¥â√«¡ 77,500 ≈â“π

∫“∑ ·≈–≈¥¿“√–¥Õ°‡∫’È¬‰¥â√«¡ 1,592.74 ≈â“π∫“∑

1.4) °“√ Roll-over æ—π∏∫—µ√ FIDF1

∑’Ë§√∫°”Àπ¥‰∂à∂Õπ ®”π«π 69,440 ≈â“π∫“∑ ‚¥¬

°Ÿâ‡ß‘π√–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π ®”π«π 26,843.61

≈â“π∫“∑ ·≈–°Ÿâ‡ß‘π√–¬–¬“«®“° ∂“∫—π°“√‡ß‘π

®”π«π 14,440 ≈â“π∫“∑ ¡∑∫°—∫‡ß‘π∑¥√Õß®à“¬

®“°∫—≠™’‡ß‘πΩ“°°√–∑√«ß°“√§≈—ß ®”π«π 28,156.39

≈â“π∫“∑ ‡æ◊ËÕ™”√–§◊πÀπ’È∑’Ë§√∫°”Àπ¥ ®“°π—Èπ

∑¬Õ¬ÕÕ°æ—π∏∫—µ√√—∞∫“≈‡æ◊ËÕ°“√ª√—∫‚§√ß √â“ßÀπ’È

«ß‡ß‘π 55,000 ≈â“π∫“∑ ¡“™”√–§◊π‡ß‘π°Ÿâ√–¬– —Èπ

·≈–‡ß‘π®“°∫—≠™’‡ß‘πΩ“°°√–∑√«ß°“√§≈—ß

1.3) Repaid the matured saving

bonds and P/Ns in the amount of 17,000 million Baht

and prepaid P/Ns in the amount of 18,500 million Baht.

The 42,000 million Baht T-bill was also issued to

prepay P/Ns. As a result, the amount of the

outstanding debt and interest payment were reduced

by 77,500 million Baht and 1,592.74 million Baht,

respectively.

1.4) Rollover the matured FIDF 1

bond in the amount of 69,440 million Baht by repaying

the bond with the short-term bridge finance (26,843.61

million Baht), long-term borrowing from financial

institutions (14,440 million Baht) and the advanced

money from Ministry of Financeûs deposit account

(28,156.39 million Baht). Later on, Ministry of Finance

issued the restructuring bond in the amount of 55,000

million Baht to repay the short-term bridge finance

and to pay back the advanced money in the deposit

account.

351.5) °“√ Roll-over æ—π∏∫—µ√ FIDF3

∑’Ë§√∫°”Àπ¥‰∂à∂Õπ ®”π«π 69,731.02 ≈â“π∫“∑

‚¥¬ÕÕ°µ—Î« —≠≠“„™â‡ß‘π «ß‡ß‘π 21,731.02 ≈â“π∫“∑

°Ÿâ‡ß‘π√–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π ®”π«π 32,430

≈â“π∫“∑ ·≈–ÕÕ°æ—π∏∫—µ√√—∞∫“≈‡æ◊ËÕ°“√ª√—∫

‚§√ß √â“ßÀπ’È «ß‡ß‘π 8,000 ≈â“π∫“∑ ¡∑∫°—∫‡ß‘π

∑¥√Õß®à“¬®“°∫—≠™’‡ß‘πΩ“°°√–∑√«ß°“√§≈—ß ®”π«π

7,570 ≈â“π∫“∑ ‡æ◊ËÕ™”√–§◊πÀπ’È∑’Ë§√∫°”Àπ¥ ‚¥¬

„πªïß∫ª√–¡“≥ 2554 ®–∑¬Õ¬ÕÕ°æ—π∏∫—µ√√—∞∫“≈

‡æ◊ËÕ°“√ª√—∫‚§√ß √â“ßÀπ’È¡“™”√–§◊π‡ß‘π°Ÿâ√–¬– —Èπ

·≈–‡ß‘π®“°∫—≠™’‡ß‘πΩ“°°√–∑√«ß°“√§≈—ßµàÕ‰ª

1.6) °“√ÕÕ°æ—π∏∫—µ√ÕÕ¡∑√—æ¬å

‰∑¬‡¢â¡·¢Áß «ß‡ß‘π 82,230.29 ≈â“π∫“∑ ‡æ◊ËÕª√—∫

‚§√ß √â“ßÀπ’È∑’Ë°Ÿâ®“° ∂“∫—π°“√‡ß‘π„πªïß∫ª√–¡“≥

2552 ®”π«π 30,000 ≈â“π∫“∑ ·≈–„πªïß∫ª√–¡“≥

2553 ®”π«π 52,230.29 ≈â“π∫“∑

2) °“√∫√‘À“√Àπ’È√—∞«‘ “À°‘®

∫π. ‰¥â‡ πÕ·π–·π«∑“ß°“√∫√‘À“√

Àπ’È “∏“√≥–·≈–°“√∫√‘À“√§«“¡‡ ’Ë¬ß¢ÕßÀπ’È

“∏“√≥–·°à√—∞«‘ “À°‘® ‚¥¬°“√„™â‡§√◊ËÕß¡◊Õ∑“ß°“√

‡ß‘π∑’Ë‡À¡“– ¡ Õ¥§≈âÕß°—∫ ∂“π–∑“ß°“√‡ß‘π¢Õß

√—∞«‘ “À°‘® ·≈–¿“«–µ≈“¥°“√‡ß‘π„π·µà≈–™à«ß‡«≈“

‡æ◊ËÕ„Àâ√—∞«‘ “À°‘® “¡“√∂∫√‘À“√®—¥°“√Àπ’È ‰¥â

Õ¬à“ß¡’ª√– ‘∑∏‘¿“æ·≈–‡°‘¥ª√–‚¬™πå Ÿß ÿ¥ ´÷Ëß„π

ªïß∫ª√–¡“≥ 2553 √—∞«‘ “À°‘®‰¥â∫√‘À“√Àπ’È‚¥¬

°“√ Roll-over °“√ Refinance ·≈–°“√∑” Swap

Arrangement Àπ’È‡ß‘π°Ÿâ «ß‡ß‘π√«¡ 212,395.1 ≈â“π∫“∑

∑—Èßπ’È ®“°°“√¥”‡π‘π°“√∫√‘À“√Àπ’È„πª√–‡∑»¢Õß

√—∞«‘ “À°‘®∑”„Àâ “¡“√∂≈¥¬Õ¥Àπ’È§ß§â“ß‰¥â

72,863.51 ≈â“π∫“∑ √«¡∑—Èß≈¥¿“√–·≈–ª√–À¬—¥

¥Õ°‡∫’È¬‰¥â 161.58 ≈â“π∫“∑

1.5) Rollover the matured FIDF 3

bond in the amount of 69,731.02 million Baht by

repaying the bond with the P/N issuance (21,731.02

million Baht), short-term bridge finance (32,430 million

Baht), restructuring bond issuance (8,000 million Baht)

and the advanced money from Ministry of Financeûs

deposit account (7,570 million Baht). In FY 2011,

Ministry of Finance would issue the restructuring bond

to repay the short-term bridge finance and to pay back

the advanced money in the deposit account.

1.6) Issued the TKK saving bonds in

the amount of 82,230.29 million Baht to restructure

the debts that borrowed from financial institutions in

FY 2009 (30,000 million Baht) and FY 2010 (52,230.29

million Baht).

2) SOEs Debt Management

PDMO has advised the SOEs to use

the appropriated financial instruments that matched

their portfolio and the financial market conditions on

their debt and risk managements. In FY 2010, SOEs

managed their debts through the rollover, refinance

and swap arrangements in the total amount of

212,395.17 million Baht. As a result, the debt

outstanding and interest repayment were reduced

by 72,863.51 million Baht and 161.58 million Baht,

respectively.

34

3. °“√∫√‘À“√®—¥°“√Àπ’È “∏“√≥–µà“ßª√–‡∑»

3.1 °“√°Ÿâ‡ß‘π„À¡à :

°√–∑√«ß°“√§≈—ß‰¥â„Àâ§«“¡‡ÀÁπ™Õ∫·π«∑“ß

√Ÿª·∫∫ ·≈–‡ß◊ËÕπ‰¢°“√°Ÿâ‡ß‘π®“°µà“ßª√–‡∑» ´÷Ëß

”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–√à«¡°—∫ à«π√“™°“√

·≈–√—∞«‘ “À°‘®æ‘®“√≥“ ‚¥¬‰¥â≈ßπ“¡ºŸ°æ—π°“√°Ÿâ‡ß‘π

«ß‡ß‘π√«¡ 38,376.72 ≈â“π∫“∑ “¡“√∂·∫àß‰¥â ¥—ßπ’È

1) √—∞∫“≈°Ÿâ‚¥¬µ√ß

ë ‚§√ß°“√°àÕ √â“ß –æ“π¢â“¡

·¡àπÈ”‡®â“æ√–¬“∫√‘‡«≥∂ππππ∑∫ÿ√’ 1 ¢Õß°√¡

∑“ßÀ≈«ß™π∫∑

°√–∑√«ß°“√§≈—ß≈ßπ“¡ºŸ°æ—π

°“√°Ÿâ‡ß‘π°—∫√—∞∫“≈≠’ËªÿÉπºà“πÕß§å°“√§«“¡√à«¡¡◊Õ

√–À«à“ßª√–‡∑»¢Õß≠’ËªÿÉπ «ß‡ß‘π 2,653.05 ≈â“π∫“∑

À√◊Õ‡∑’¬∫‡∑à“ 7,307 ≈â“π‡¬π

ë ‚§√ß°“√°àÕ √â“ß∑“ß “¬À≈—°

„Àâ‡ªìπ 4 ™àÕß®√“®√ (√–¬–∑’Ë 2) ¢Õß°√¡∑“ßÀ≈«ß

°√–∑√«ß°“√§≈—ß≈ßπ“¡ºŸ°æ—π

°“√°Ÿâ‡ß‘π°—∫∏π“§“√‚≈° «ß‡ß‘π 2,573.87 ≈â“π∫“∑ À√◊Õ

‡∑’¬∫‡∑à“ 79.30 ≈â“π‡À√’¬≠ À√—∞ ·≈–∏π“§“√

æ—≤π“‡Õ‡™’¬ «ß‡ß‘π 2,502.47 ≈â“π∫“∑ À√◊Õ‡∑’¬∫‡∑à“

77.16 ≈â“π‡À√’¬≠ À√—∞

2) √—∞∫“≈§È”ª√–°—π

ë ‚§√ß°“√√∂‰øøÑ“ “¬ ’¡à«ß

∫“ß„À≠à-√“…Æ√å∫Ÿ√≥– ™à«ß∫“ß„À≠à-∫“ß´◊ËÕ

¢Õß°“√√∂‰øøÑ“¢π àß¡«≈™π·Ààßª√–‡∑»‰∑¬

°√–∑√«ß°“√§≈—ß≈ßπ“¡ºŸ°æ—π°“√

°Ÿâ ‡ß‘π°—∫√—∞∫“≈≠’ËªÿÉπºà“πÕß§å°“√§«“¡√à«¡¡◊Õ


À√◊Õ‡∑’¬∫‡∑à“ 16,639 ≈â“π‡¬π

3. External Debt Management

3.1 New Borrowing

PDMO together with the government

agencies and SOEs have signed the loan agreements

in the total amount of 38,376.72 million Baht, the

details are as followed:

1) Government Direct Borrowing

ë Chao Phraya River Crossing

Bridge at Nonthaburi 1 Road Construction

Project, Department of Rural Roads

Ministry of Finance has signed the

loan agreement with the Government of Japan through

the Japan International Cooperation Agency (JICA) in

the amount of 2,653.05 million Baht or equivalent to

7,307 million Yen.

ë Greater Mekong Sub-region

Highway Expansion Project, Department of

Highways


loan agreement with the World Bank in the amount of

2,573.87 million Baht or equivalent to 79.30 million

USD and with the Asian Development Bank (ADB) in

the amount of 2,502.47 million Baht or equivalent to

77.16 million USD.

2) Government Guaranteed

ë Mass Transit System (Purple

Line) Project, Mass Rapid Transit Authority of

Thailand


loan agreement with the Government of Japan

through JICA in the amount of 6,041.34 million Baht

or equivalent to 16,639 million Yen.

37ë ‚§√ß°“√ª√—∫ª√ÿß°‘®°“√ª√–ª“

·ºπÀ≈—° §√—Èß∑’Ë 8 ¢Õß°“√ª√–ª“π§√À≈«ß

°√–∑√«ß°“√§≈—ß≈ßπ“¡ºŸ°æ—π

°“√°Ÿâ‡ß‘π°—∫√—∞∫“≈≠’ËªÿÉπºà“πÕß§å°“√§«“¡√à«¡¡◊Õ


À√◊Õ‡∑’¬∫‡∑à“ 4,462 ≈â“π‡¬π

3) √—∞∫“≈„Àâ°ŸâµàÕ

ë ‚§√ß°“√√–∫∫√∂‰ø™“π‡¡◊Õß

( “¬ ’·¥ß) √—ß ‘µ™à«ß∫“ß´◊ËÕ-√—ß ‘µ

°√–∑√«ß°“√§≈—ß≈ßπ“¡ —≠≠“

„Àâ°Ÿâ·°à°“√√∂‰ø·Ààßª√–‡∑»‰∑¬ «ß‡ß‘π 22,920.81

≈â“π∫“∑ À√◊Õ‡∑’¬∫‡∑à“ 63,018 ≈â“π‡¬π

3.2 °“√∫√‘À“√Àπ’È

„π™à«ßªïß∫ª√–¡“≥ 2553 ‰¡à¡’°“√¥”‡π‘π

°“√∫√‘À“√Àπ’Èµà“ßª√–‡∑» Õ¬à“ß‰√°Á¥’ ∫π. Õ¬Ÿà√–À«à“ß

°“√»÷°…“·≈–æ‘®“√≥“‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π·≈–

æ‘®“√≥“™à «ß ‡«≈“∑’Ë µ≈“¥°“√ ‡ß‘ π·≈–µ≈“¥

Õ—µ√“·≈°‡ª≈’Ë¬π‡Õ◊ÈÕÕ”π«¬„Àâ¥”‡π‘π°“√∫√‘À“√Àπ’È

µà“ßª√–‡∑»„Àâ‡°‘¥ª√–‚¬™πå Ÿß ÿ¥

ë 8th Bangkok Water Supply

Improvement Project, Metropolitan Water-

works Authority


loan agreement with the Government of Japan through

JICA in the amount of 1,685.18 million Baht or

equivalent to 4,462 million Yen.

3) Government On-lending

ë Mass Transit System in

Bangkok Project (Red Line), State Railway

Authority


on-lending agreement with the State Railway

Authority in the amount of 22,920.81 million Baht or

equivalent to 63,018 million Yen.

3.2 Debt Management

There was no external debt management

in FY 2010. However, PDMO currently studies and

considers appropriated financial instruments and

timing to maximise the cost efficiency of external debt

management.

36

¬ÿ∑∏»“ µ√å∑’Ë 2æ—≤π“µ≈“¥µ√“ “√Àπ’È „Àâ‡ªìπ‡ “À≈—°∑“ß°“√‡ß‘π‡æ◊ËÕ‡ √‘¡ √â“ß§«“¡·¢Áß·°√àß¢Õß√–∫∫°“√‡ß‘πStrategy 2:Develop Domestic Bond Marketto be a sustainable source of funding forthe stability of Thailand’s financial system

°√–∑√«ß°“√§≈—ß‚¥¬ ”π—°ß“π∫√‘À“√Àπ’È

“∏“√≥– ( ∫π.) ‡ªìπ‡ “À≈—° ”§—≠„π°“√æ—≤π“

µ≈“¥µ√“ “√Àπ’È‰∑¬Õ¬à“ßµàÕ‡π◊ËÕß ‡π◊ËÕß®“°µ≈“¥

µ√“ “√Àπ’È∂◊Õ‡ªìπ·À≈àß√–¥¡∑ÿπÀ≈—°¢Õß√—∞∫“≈

√—∞«‘ “À°‘® ·≈–¿“§‡Õ°™π ®÷ß¡’§«“¡®”‡ªìπÕ¬à“ß¬‘Ëß

∑’Ë®–µâÕßæ—≤π“µ≈“¥µ√“ “√Àπ’È‰∑¬„Àâ‡ªìπ·À≈àß

√–¥¡∑ÿπ„Àâ·¢Áß·°√àß ¡’‡ ∂’¬√¿“æ ·≈– “¡“√∂

√Õß√—∫°“√√–¥¡∑ÿπ∑—Èß¢Õß¿“§√—∞·≈–‡Õ°™π∫π

µâπ∑ÿπ∑’Ë‡À¡“– ¡‡æ◊ËÕ„Àâ‡°‘¥°“√æ—≤π“ª√–‡∑»Õ¬à“ß

¬—Ëß¬◊π ∫π. ®÷ß‰¥â°”Àπ¥¬ÿ∑∏»“ µ√å°“√æ—≤π“

µ≈“¥µ√“ “√Àπ’È„Àâ‡ªìπ‡ “À≈—°∑“ß°“√‡ß‘π¢Õß

ª√–‡∑» ‡ªìπ 1 „π 3 ¬ÿ∑∏»“ µ√å¢ÕßÕß§å°√

„πªï 2553 µ≈“¥µ√“ “√Àπ’È¡’¡Ÿ≈§à“ Ÿß∂÷ß

√âÕ¬≈– 65 ¢Õß GDP ´÷Ëß‡ªìπº≈ ”‡√Á®®“°§«“¡

¡ÿàß¡—Ëπ¢Õß ∫π. ´÷Ëß°≈¬ÿ∑∏å°“√¥”‡π‘πß“π„πªï

ß∫ª√–¡“≥ æ.». 2553 π—Èπ ¡ÿàß‡πâπ„π 3 ¥â“π §◊Õ

1. ÕÕ°æ—π∏∫—µ√ Benchmark Õ¬à“ß ¡Ë”‡ ¡Õ

2. æ—≤π“‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π„À¡àÊ ·≈– 3. ∫√‘À“√

®—¥°“√Àπ’È„π‡™‘ß√ÿ° ´÷Ëß¡“µ√°“√/‚§√ß°“√∑’Ë ”§—≠

„πªï 2553 ‰¥â·°à

Bond market has long been the most vital source

of funding for the government and now becoming a

major alternative funding source for private sector.

Therefore, PDMO has been taking an active role in

developing domestic bond market. The accomplishment

of our mission is evidenced in the remarkable size of

Thai bond market which is accounted for 65% of GDP

in 2010 . Our three main strategies in establishing

a liquid and sizable bond market in 2010 are 1.

Regular issuance of benchmark bond 2. New product

development and 3. Active debt management.

Within these three main strategies, we

successfully accomplished the following project/

measures.

3938

µ“√“ß∑’Ë 1 : ª√‘¡“≥°“√°Ÿâ‡ß‘π¥â«¬æ—π∏∫—µ√√—∞∫“≈„πªïß∫ª√–¡“≥ æ.». 2553

Table 1 : Benchmark Bond Issuance Amount in FY 2010 (by tenor)

«ß‡ß‘πÕÕ°„À¡à ¬Õ¥§ß§â“ß

‡§√◊ËÕß¡◊Õ √ÿàπÕ“¬ÿ (≈â“π∫“∑) (≈â“π∫“∑)

Instrument Tenor Issued Amount Total Outstanding

in FY2010 (MB) Amount (MB)

5 ªï 121,572 121,572

7 ªï 55,000 55,000

æ—π∏∫—µ√√—∞∫“≈ 10 ªï 71,254 99,994

Benchmark Bond 15 ªï 47,000 47,000

20 ªï 50,000 50,000

30 ªï 20,000 20,000

æ—π∏∫—µ√√—∞∫“≈√ÿàπÕ◊ËπÊ 8 ªï 12,000 12,000

Non-Benchmark Bond 12 ªï 9,000 69,000

13 ªï 8,000 8,000

√«¡æ—π∏∫—µ√√—∞∫“≈∑’ËÕÕ°„À¡à

„πªïß∫ª√–¡“≥ æ.». 2553 393,826

Total Newly Issuance

Amount in FY2010

1. °“√ÕÕ°æ—π∏∫—µ√√—∞∫“≈ (Benchmark Bond)

∫π. ÕÕ°æ—π∏∫—µ√√—∞∫“≈ (Benchmark Bond)

√ÿàπÕ“¬ÿ 5 7 10 15 20 ·≈– 30 ªï ‚¥¬∑”°“√‡æ‘Ë¡

«ß‡ß‘π®“°æ—π∏∫—µ√‡¥‘¡∑’Ë¡’„πµ≈“¥ (Re-open) „π√ÿàπ

Õ“¬ÿ 10 ªï à«π√ÿàπ 5 7 15 20 30 ªï ‡ªìπ°“√ÕÕ°„À¡à

πÕ°®“°π—Èπ ∫π. ¬—ß¥”‡π‘π°“√ÕÕ°æ—π∏∫—µ√

√—∞∫“≈√ÿàπÕ◊ËπÊ ‰¥â·°à √ÿàπÕ“¬ÿ 8 12 ·≈– 13 ªï (Re-open

„π√ÿàπÕ“¬ÿ 12 ªï à«π√ÿàπ 8 ·≈– 13 ªï ‡ªìπ°“√ÕÕ°„À¡à)

¥â«¬ ‚¥¬¡’√“¬≈–‡Õ’¬¥ª√‘¡“≥°“√°Ÿâ ‡ß‘π¥â«¬

æ—π∏∫—µ√√—∞∫“≈¥—ßµ“√“ß∑’Ë 1

1. The issuance of benchmark bond.

Not only re-open the 10-yrs benchmark bond

and issue a new 5 7 10 15 20 and 30 bond, we

also add the new tenor of benchmark bond i.e.

8 12 and 13 yrs. The summary of government

bonds issued in 2010 is shown in table 1. This

accomplishment led to :

º≈°“√ÕÕ°æ—π∏∫—µ√√—∞∫“≈

- µ≈“°·√° æ—π∏∫—µ√√ÿàπÕ“¬ÿ 5 ·≈– 10 ªï

¡’ Bid Coverage Ratio (BCR) ∑’Ë 2.6 ·≈– 1.8

´÷Ëß‡ªìπ√–¥—∫∑’Ë Ÿß¢÷Èπ®“°ªï°àÕπÀπâ“ · ¥ß„Àâ

‡ÀÁπ∂÷ß°“√ª√–¡Ÿ≈∑’ËÀπ“·πàπ „π¢≥–∑’Ë

«ß‡ß‘π√«¡¬—ß§ß Ÿß„°≈â‡§’¬ß°—∫ªï°àÕπÀπâ“

- µ≈“¥√Õß æ—π∏∫—µ√√ÿàπÕ“¬ÿ 5 ·≈– 10 ªï

¡’¡Ÿ≈§à“°“√´◊ÈÕ¢“¬ Ÿß ÿ¥‡ªìπÕ—π¥—∫ 1 ·≈– 4

Õ’°∑—Èß¬—ß¡’ ¿“æ§≈àÕßÕ¬Ÿà„π√–¥—∫∑’Ë¥’ —ß‡°µ

‰¥â®“° Turnover ratio Õ¬Ÿà∑’Ë 4.2 ·≈– 1.4 ‡∑à“

µ“¡≈”¥—∫ ·≈–¡’ —¥ à«π´◊ÈÕ¢“¬Õ¬Ÿà∑’Ë√âÕ¬≈–

25.5 ·≈– 8.3 ¢Õß¬Õ¥°“√´◊ÈÕ¢“¬æ—π∏∫—µ√

√—∞∫“≈„πµ≈“¥√Õß (µ“√“ß∑’Ë 2)

- Higher Bid Coverage Ratio (BCR) of 5-yrs and 10-yrs

benchmark bond to 2.6 and 1.8 in 2010, respectively.

- 5-yrs benchmark bond has highest trading volume

and 10-yrs benchmark bond is the 4th . Moreover, the

turnover ratio of both benchmark bond is at 4.2 and

1.4, respectively. The key success indicators are shown

in table 2

4140

ªïß∫ª√–¡“≥ ªïß∫ª√–¡“≥ ªïß∫ª√–¡“≥ ªïß∫ª√–¡“≥

æ.». 2550 æ.». 2551 æ.». 2552 æ.». 2553

FY2007 FY2008 FY2009 FY2010

LB154B LB175A LB133A LB183B LB145B LB183B LB155A LB196A

† (Õ“¬ÿ 7 ªï) (Õ“¬ÿ 10 ªï) (Õ“¬ÿ 5 ªï) (Õ“¬ÿ 10 ªï) (Õ“¬ÿ 5 ªï) (Õ“¬ÿ 10 ªï) (Õ“¬ÿ 5 ªï) (Õ“¬ÿ 10 ªï)

¥—™π’™’È«—¥„πµ≈“¥·√°

Primary market Indicators

BCR 1.6 1.6 2.2 1.7 2.0 1.6 2.6 1.8

«ß‡ß‘πª√–¡Ÿ≈ 5,000-6,000 5,000-6,000 10,000-15,000 5,000-10,000 10,000-15,000 10,000-12,000 10,000-13,000 8,000-15,000

„π·µà≈–§√—Èß (≈â“π∫“∑)

Issuance Size per Auction (MB)

«ß‡ß‘π√«¡ (≈â“π∫“∑) 43,830 43,830 99,000 52,632 121,035 86,632 101,572 99,994

Total Issuance Amount

¥—™π’™’È«—¥ ¿“æ§≈àÕß„πµ≈“¥√Õß

Secondary Market Indicators

≈”¥—∫§«“¡π‘¬¡„πµ≈“¥√Õß 5 7 1 2 1 2 1 4

Ranking

Turnover Ratio (‡∑à“) 1.7 1.5 3.1 2.5 2.4 2.2 4.2 1.4

—¥ à«π°“√´◊ÈÕ¢“¬æ—π∏∫—µ√ 6.9% 5.7% 27.3% 11.8% 20.3% 16.1% 25.5% 8.3%

„πµ≈“¥√Õß

Share of Trade in Secondary

market

ª√‘¡“≥´◊ÈÕ¢“¬„πµ≈“¥√Õß 81,190 66,173 305,194 131,790 288,897 188,634 429,592 139,978

(≈â“π∫“∑)

Trade Volume (MB)

«ß‡ß‘π‡©≈’Ë¬µàÕ√ÿàπ (≈â“π∫“∑) 42,308 50,256 56,848 62,975

Average Size per Series (MB)

µ“√“ß∑’Ë 2 : ‡ª√’¬∫‡∑’¬∫¥—™π’™’È«—¥§«“¡ ”‡√Á®¢Õß°“√ÕÕ°æ—π∏∫—µ√ Benchmark ¢Õß√—∞∫“≈„πµ≈“¥·√°

·≈–µ≈“¥√Õß

Table 2 : Comparing Issuance Size and Market Feedbacks from FY2007 to FY 2010

(Primary and Secondary Market)

2. °“√ÕÕ°æ—π∏∫—µ√√—∞∫“≈ª√–‡¿∑Õ—µ√“¥Õ°‡∫’È¬

≈Õ¬µ—« (Floating Rate Bond : FRB)

∫π. ‰¥â¥”‡π‘π°“√ÕÕ°æ—π∏∫—µ√√—∞∫“≈

ª√–‡¿∑Õ—µ√“¥Õ°‡∫’È¬≈Õ¬µ—« (Floating Rate Bond :

FRB) „πªïß∫ª√–¡“≥ æ.». 2553 ®”π«π 6 √ÿàπ

«ß‡ß‘π√«¡ 47,000 ≈â“π∫“∑ ‚¥¬‡ªìπ√ÿàπÕ“¬ÿ 4 ªï ´÷Ëß

Õ¥§≈âÕß°—∫«ß®√¥Õ°‡∫’È¬¢Õßª√–‡∑»‰∑¬´÷ËßÕ¬Ÿà∑’Ë

ª√–¡“≥ 4-5 ªï (∑’Ë¡“: ∏ª∑.) ·≈–„™âÕ—µ√“¥Õ°‡∫’È¬

Õâ“ßÕ‘ß√–¬– —Èπ°“√°Ÿâ¬◊¡√–À«à“ß∏π“§“√¢Õßµ≈“¥

°√ÿß‡∑æ √ÿàπÕ“¬ÿ 6 ‡¥◊Õπ (6-month BIBOR) ‡ªìπÕ—µ√“

¥Õ°‡∫’È¬Õâ“ßÕ‘ß ÷Ëß°“√ÕÕ° FRB „πªïß∫ª√–¡“≥ æ.».

2553 ‰¥â√—∫°“√µÕ∫√—∫Õ¬à“ß¥’®“°π—°≈ß∑ÿπ —ß‡°µ‰¥â

®“° BCR ∑’Ë¡“°°«à“ 1.50 „π∑ÿ°§√—Èß°“√ª√–¡Ÿ≈ ·≈–

BCR ‡©≈’Ë¬∑’Ë Ÿß∂÷ß 2.32 ‡∑à“ ‚¥¬º≈°“√ÕÕ° FRB

‡ªìπ¥—ßµ“√“ß∑’Ë 3

2. The issuance of Floating Rate Bond

: FRB

The 4-year FRB, using 6-month BIBOR as a

reference rate, is successfully issued 6 times in 2010.

This is evidenced in a BCR over 1.50 in every auction

and the average BCR is 2.32. The summary of FRB

issuance in 2010 is shown in table 3

4342µ“√“ß∑’Ë 3 : º≈°“√ÕÕ°æ—π∏∫—µ√√—∞∫“≈ª√–‡¿∑Õ—µ√“¥Õ°‡∫’È¬≈Õ¬µ—«ª√–®”ªïß∫ª√–¡“≥ æ.». 2553

Table 3 : Results of FRB Issuance

3. °“√ÕÕ°æ—π∏∫—µ√ÕÕ¡∑√—æ¬å ‰∑¬‡¢â¡·¢Áß

„πªïß∫ª√–¡“≥ æ.». 2553

®“°°“√∑’Ë ∫π. ÕÕ°æ—π∏∫—µ√ÕÕ¡∑√—æ¬å‰∑¬

‡¢â¡·¢Áß Õ—µ√“¥Õ°‡∫’È¬·∫∫¢—Èπ∫—π‰¥ ‡ªìπ§√—Èß·√°„π

ªïß∫ª√–¡“≥ æ.». 2552 ‚¥¬ÕÕ°‡ªìπ√ÿàπÕ“¬ÿ 5 ªï

·≈–®”Àπà“¬ºà“π∏π“§“√æ“≥‘™¬å¢π“¥„À≠à®”π«π

7 ∏π“§“√ (®”π«π “¢“√«¡∑—Èß ‘Èπ 4,871 ·Ààß)

º≈°“√®”Àπà“¬ª√“°Ø«à“‰¥â√—∫°“√µÕ∫√—∫Õ¬à“ß¥’¬‘Ëß

®“°ª√–™“™π√“¬¬àÕ¬ ¡’ª√–™“™π∑—Ë«ª√–‡∑»„Àâ

§«“¡ π„®´◊ÈÕæ—π∏∫—µ√¥—ß°≈à“«Õ¬à“ß¡“°®π∑”„Àâ

“¡“√∂¢“¬æ—π∏∫—µ√‰¥â§√∫‡µÁ¡«ß‡ß‘π 80,000 ≈â“π∫“∑

¥—ßπ—Èπ „πªïß∫ª√–¡“≥ æ.». 2553 ∑’Ë√—∞∫“≈¬—ß

§ß¡’§«“¡µâÕß°“√√–¥¡∑ÿπ ŸßÕ¬à“ßµàÕ‡π◊ËÕß ∫π.

®÷ß‰¥â¥”‡π‘π°“√ÕÕ°æ—π∏∫—µ√ÕÕ¡∑√—æ¬å‰∑¬‡¢â¡·¢Áß

Õ—µ√“¥Õ°‡∫’È¬·∫∫¢—Èπ∫—π‰¥Õ’°§√—Èß ‚¥¬ÕÕ°‡ªìπ√ÿàπÕ“¬ÿ

6 ªï ·≈–®”Àπà“¬ºà“π∏π“§“√æ“≥‘™¬å¢π“¥„À≠à

‡æ‘Ë¡‡µ‘¡®“° 7 ∏π“§“√ ‡ªìπ 12 ∏π“§“√ (®”π«π

“¢“√«¡∑—Èß ‘Èπ 6,176 ·Ààß) ‚¥¬„πªï∑’Ë 1-2 ¡’Õ—µ√“

3. The issuance of 80 billion baht

saving bond

The successful issuance of 2009 step-up

saving bond had proved a remarkable demand of

retail sector. Therefore, to fulfill large amount of

government needed for funding, PDMO has decided

to issue another 80 billion baht step-up saving bond in

2010. By having 5 more commercial banks participated

as a dealer, the distribution channel is increased from

4871 outlet in 2009 to 6176 outlet in 2010. This ease

retail investor in gaining access to the distribution

channels throughout the country. As to the feature,

the interest for the 1st and the 2nd year is 3%, the 3rd

and the 4th is 4%, the 5th year is 5% and the last year

is 6%. We also give priority to senior citizen (age over

60) and limit the maximum purchase per investor at 1

million baht. As a result, we successfully issued 82.23

billion baht step-up saving bond in 2010.

™◊ËÕ√ÿàπ «ß‡ß‘π (≈â“π∫“∑) Õ—µ√“µÕ∫·∑π‡©≈’Ë¬ Bid Coverage RatioSymbol Size (MB) (√âÕ¬≈–µàÕªï) (‡∑à“)

Average AcceptedYield (%)

LB13NA 6,000 1.35 2.50LB141A 8,000 1.38 2.58LB144A 8,000 1.39 1.70LB145C 8,000 1.39 2.04LB147A 9,000 1.64 2.04LB149A 8,000 1.85 3.16√«¡ 47,000 1.51 2.32Total

¥Õ°‡∫’È¬√âÕ¬≈– 3 ªï∑’Ë 3-4 ¡’Õ—µ√“¥Õ°‡∫’È¬√âÕ¬≈– 4

ªï∑’Ë 5 ¡’Õ—µ√“¥Õ°‡∫’È¬√âÕ¬≈– 5 ·≈–ªï∑’Ë 6 ¡’Õ—µ√“

¥Õ°‡∫’È¬√âÕ¬≈– 6 ·≈–„Àâ ‘∑∏‘ºŸâ∑’Ë¡’Õ“¬ÿ 60 ªï¢÷Èπ‰ª

´◊ÈÕæ—π∏∫—µ√°àÕπ ·≈–®”°—¥«ß‡ß‘π¢—Èπ Ÿß∑’Ë 1 ≈â“π∫“∑

‚¥¬º≈°“√ÕÕ°æ—π∏∫—µ√¥—ß°≈à“«„πªïß∫ª√–¡“≥

æ.». 2553 ª√“°Ø«à“‰¥â√—∫°“√µÕ∫√—∫∑’Ë¥’¬‘Ëß®“°

ª√–™“™π∑—Ë«ª√–‡∑»Õ’°§√—Èß “¡“√∂¢“¬æ—π∏∫—µ√‰¥â

„π«ß‡ß‘π∑’Ë Ÿß°«à“„πªïß∫ª√–¡“≥ æ.». 2552 §◊Õ

Ÿß∂÷ß 82,230 ≈â“π∫“∑

4. °“√«“ß√–∫∫°“√≈ß∑ÿπ¢Õß°Õß∑ÿπ∫√‘À“√‡ß‘π°Ÿâ

‡æ◊ËÕª√—∫‚§√ß √â“ßÀπ’È “∏“√≥–·≈–æ—≤π“µ≈“¥

µ√“ “√Àπ’È „πª√–‡∑»

„πªïß∫ª√–¡“≥ æ.». 2555 °√–∑√«ß°“√§≈—ß

®–µâÕß∑”°“√ª√—∫‚§√ß √â“ßÀπ’È∑’Ë¡’¢π“¥„À≠à°«à“

50,000 ≈â“π∫“∑ ®”π«π 2 √ÿàπ¥â«¬°—π ∫π. ®÷ß‰¥â

¥”‡π‘π°“√«“ß√–∫∫°“√≈ß∑ÿπ¢Õß°Õß∑ÿπ∫√‘À“√

‡ß‘π°Ÿâ‡æ◊ËÕª√—∫‚§√ß √â“ßÀπ’È “∏“√≥–·≈–æ—≤π“

µ≈“¥µ√“ “√Àπ’È„πª√–‡∑» (°.ª.æ.) ‡æ◊ËÕ∑”Àπâ“∑’Ë

„π°“√∫√‘À“√‡ß‘π∑’Ë ‰¥â√—∫®“°°“√°Ÿâ ‡ß‘π‡æ◊ËÕª√—∫

‚§√ß √â“ßÀπ’È≈à«ßÀπâ“ (pre-funding) ¢Õßæ—π∏∫—µ√∑’Ë

ÕÕ°‡æ◊ËÕ°Õß∑ÿπ FIDF ´÷Ëß®–‡ªìπ°≈‰° ”§—≠¢Õß

∫π. „π°“√≈¥§«“¡‡ ’Ë¬ß„π°“√√–¥¡∑ÿπ®”π«π

¡“°‡æ◊ËÕª√—∫‚§√ß √â“ßÀπ’È¿“¬„π«—π‡¥’¬« ·≈–™à«¬

≈¥µâπ∑ÿπ„π°“√°Ÿâ‡ß‘π¢Õß√—∞∫“≈

4. The setting up of the Public

debt restructuring and Domestic bond

market development Fund (PDDF)

In 2012, PDMO will have to refinance two

matured debt which matured amount is over 50

trillion baht on the same day. Therefore, PDMO has

working continuously to set up PDDF, an investment

arm that will play an important roles in limiting the

risk of liquidity shortage and ensuring the cost-

effectiveness of public debt management.

4544

∫π. ®÷ß‰¥â¥”‡π‘π°“√¬°√à“ß√–‡∫’¬∫

§≥–°√√¡°“√°Õß∑ÿπœ «à“¥â«¬ À≈—°‡°≥±å «‘∏’°“√

·≈–‡ß◊ËÕπ‰¢„π°“√≈ß∑ÿπ ·≈–°“√∑”∏ÿ√°√√¡ªÑÕß°—π

§«“¡‡ ’Ë¬ß ‡æ◊ËÕ„Àâ°“√¥”‡π‘π°“√≈ß∑ÿπ·≈–°“√

∫√‘À“√§«“¡‡ ’Ë¬ß®“°°“√≈ß∑ÿπ¢Õß°Õß∑ÿπ¡’§«“¡

™—¥‡®π √Õ∫§Õ∫ ·≈–‡ªìπ‰ªµ“¡°√Õ∫∑’Ë°ÆÀ¡“¬

°”Àπ¥ ‚¥¬‰¥â»÷°…“¡“µ√∞“π°“√®—¥°“√°“√≈ß∑ÿπ

·≈–‡∑’¬∫‡§’¬ß°—∫Àπà«¬ß“π∑’Ë¡’«—µ∂ÿª√– ß§å·≈–

π‚¬∫“¬°“√≈ß∑ÿπ„°≈â‡§’¬ß°—∫°Õß∑ÿπ‡æ◊ËÕ„Àâ√à“ß

√–‡∫’¬∫œ ‡°’Ë¬«°—∫°“√≈ß∑ÿπ¢Õß°Õß∑ÿπ¡’§«“¡‡ªìπ

¡“µ√∞“π·≈– “¡“√∂„™â„π°“√¥”‡π‘πß“π‰¥âÕ¬à“ß¡’

ª√– ‘∑∏‘¿“æ·≈–ª√– ‘∑∏‘º≈ ‚¥¬°Õß∑ÿπ‰¥â°”Àπ¥

„Àâ¡’ —¥ à«π°“√≈ß∑ÿπ„πÀ≈—°∑√—æ¬å∑’Ë¡’§«“¡¡—Ëπ§ß Ÿß

(µ√“ “√Àπ’È √—∞∫“≈‰∑¬·≈–µ√“ “√Àπ’È √—∞∫“≈

µà“ßª√–‡∑» ∂“∫—π°“√‡ß‘π√–À«à“ßª√–‡∑» À√◊Õ

∂“∫—π°“√‡ß‘π¢Õß√—∞∫“≈µà“ßª√–‡∑»∑’Ë¡’Õ—π¥—∫

§«“¡πà“‡™◊ËÕ∂◊Õ Ÿß ÿ¥ °“√∑”∏ÿ√°√√¡ Reverse Repo)

‰¡àπâÕ¬°«à“√âÕ¬≈– 60 ·≈–À≈—°∑√—æ¬åÕ◊Ëπ (µ√“ “√Àπ’È

Õ◊Ëπ∑’Ë‰¥â√—∫°“√®—¥Õ—π¥—∫§«“¡πà“‡™◊ËÕ∂◊Õ Ÿß ÿ¥) ‰¡à‡°‘π

√âÕ¬≈– 40 ·≈–‰¥â¬°√à“ß√–‡∫’¬∫§≥–°√√¡°“√

°Õß∑ÿπœ «à“¥â«¬ À≈—°‡°≥±å «‘∏’°“√ ·≈–‡ß◊ËÕπ‰¢„π

°“√§—¥‡≈◊Õ°ºŸâ∫√‘À“√ ‘π∑√—æ¬å ‡æ◊ËÕ‡ªìπÀ≈—°‡°≥±å„π

°“√§—¥‡≈◊Õ°ºŸâ∫√‘À“√ ‘π∑√—æ¬å∑’Ë¡’§«“¡‡À¡“– ¡°—∫

On the policy side, PDDF board committee has

approved the investment mandate which compile with

the Public Debt Management Act in 2008. The main

investment objective of the fund is çCapital

Preservationé since the principle must be return fully

to the PDMO at the end of the investment period. To

be conservative, the investment universe is set to be

fairly limit, 60% in safe asset (Government Debt

securities) and 40% in risky asset (other debt

securities with highest credit rating). Reverse repo is

also allowed.

«—µ∂ÿª√– ß§å·≈–°“√¥”‡π‘πß“π¢Õß°Õß∑ÿπÕ¬à“ß

Ÿß ÿ¥ ´÷Ëß°Õß∑ÿπ®–¡Õ∫À¡“¬„ÀâºŸâ∫√‘À“√ ‘π∑√—æ¬å

¿“¬πÕ°∫√‘À“√®—¥°“√ ‘π∑√—æ¬å¢Õß°Õß∑ÿπ„π

√–¬–·√° πÕ°®“°π’È¬—ß‰¥â®—¥∑”§Ÿà¡◊Õ°“√ªØ‘∫—µ‘ß“π

‡°’Ë¬«°—∫°“√≈ß∑ÿπ¢Õß°Õß∑ÿπ ‡æ◊ËÕ„Àâ°Õß∑ÿπ¡’°“√

¥”‡π‘πß“π∑’Ë‡ªìπ¡“µ√∞“π “°≈ ·≈–‡ªìπ‰ªÕ¬à“ß

¡’ª√– ‘∑∏‘¿“æ·≈–ª√– ‘∑∏‘º≈ Ÿß ÿ¥

„π¥â“π°“√®—¥°“√ °Õß∑ÿπ‰¥â‡®√®“ —≠≠“

¡“µ√∞“π ”À√—∫°“√∑”∏ÿ√°√√¡ªÑÕß°—π§«“¡‡ ’Ë¬ß

®“°°“√≈ß∑ÿπ (ISDA) ·≈–°“√∑”∏ÿ√°√√¡´◊ÈÕ‚¥¬¡’

—≠≠“®–¢“¬§◊π´÷Ëßµ√“ “√Àπ’È (GMRA) °—∫ ∂“∫—π

°“√‡ß‘π§Ÿà —≠≠“À≈“¬·Ààß ·≈–®–¥”‡π‘π°“√

§—¥‡≈◊Õ°∫√‘…—∑À≈—°∑√—æ¬å®—¥°“√¡“∑”Àπâ“∑’ËºŸâ∫√‘À“√

‘π∑√—æ¬å¢Õß°Õß∑ÿπ „πµâπªïß∫ª√–¡“≥ 2554 ‡æ◊ËÕ

„Àâæ√âÕ¡√Õß√—∫°“√¥”‡π‘π°“√≈ß∑ÿπ„πªïß∫ª√–¡“≥

2556 µàÕ‰ª

On the Operation side, the fund has been

negotiating standard contract for Derivatives and

Reverse Repo operation, ISDA and GMRA, with

various leading commercial bank. Also, to build up fund

investment capacity, the board has approved

outsourcing of Asset management Companies to

handle investment operation of the fund. The

selection process will start in fiscal year 2011 and

expect to finish and ready for the first investment

period in the beginning of fiscal year 2012

4746

5. °“√Õπÿ≠“µ„Àâπ‘µ‘∫ÿ§§≈µà“ßª√– ‡∑»ÕÕ°

µ√“ “√Àπ’È °ÿ≈‡ß‘π∫“∑„πª√–‡∑»‰∑¬

°√–∑√«ß°“√§≈—ß‚¥¬ ”π—°ß“π∫√‘À“√Àπ’È

“∏“√≥– ( ∫π.) ‰¥â¥”‡π‘ππ‚¬∫“¬°“√Õπÿ≠“µ„Àâ

∂“∫—π°“√‡ß‘π√–À«à“ßª√–‡∑» Àπà«¬ß“π¢Õß

√—∞∫“≈µà“ßª√–‡∑» ∂“∫—π°“√‡ß‘π¢Õß√—∞∫“≈µà“ß

ª√–‡∑» ·≈–π‘µ‘∫ÿ§§≈µà“ßª√–‡∑» “¡“√∂ÕÕ°

æ—π∏∫—µ√À√◊ÕÀÿâπ°Ÿâ °ÿ≈‡ß‘π∫“∑ (Baht Bond) „π

ª√–‡∑»‰∑¬¡“µ—Èß·µàªï 2547 ‚¥¬¡’«—µ∂ÿª√– ß§å‡æ◊ËÕ

„Àâµ≈“¥µ√“ “√Àπ’È‰∑¬¡’ª√–‡¿∑¢Õßº≈‘µ¿—≥±å

µ√“ “√Àπ’È∑’ËÀ≈“°À≈“¬¬‘Ëß¢÷Èπ·≈– “¡“√∂µÕ∫

πÕß§«“¡µâÕß°“√¢Õßπ—°≈ß∑ÿπ„πª√–‡∑»∑’Ë

µâÕß°“√≈ß∑ÿπ„πµ√“ “√Àπ’Èµà“ßª√–‡∑»∑’Ë¡’§ÿ≥¿“æ

¥’‚¥¬‰¡à¡’§«“¡‡ ’Ë¬ß‡√◊ËÕßÕ—µ√“·≈°‡ª≈’Ë¬π πÕ°®“°π’È

°“√∑’Ëπ‘µ‘∫ÿ§§≈µà“ßª√–‡∑» “¡“√∂¡“ÕÕ°æ—π∏∫—µ√

À√◊Õµ√“ “√Àπ’È„πª√–‡∑»‰∑¬‰¥âπ—Èπ ®–™à«¬‡æ‘Ë¡

§«“¡ ‡™◊Ë Õ¡—Ë π¢ÕßºŸâ ≈ ß∑ÿπ·≈–ºŸâ √ –¥¡∑ÿπ®“°

µà“ßª√–‡∑»·≈–®–¡’ à«π π—∫ πÿπ°“√æ—≤π“µ≈“¥

µ√“ “√Àπ’È‰∑¬„Àâ°â“«Àπâ“¬‘Ëß¢÷Èπ‰¥â

5. The Permission of Issuing Baht-

denominated Bonds or Debentures by

Foreign Entities in Thailand

Public Debt Management Office (PDMO), on

behalf of the Ministry of Finance, has continued the

policy to permit the International Financial Institutions,

Foreign Government Agencies, Financial Institutions

of Foreign Government, and Foreign Entities to issue

Thai Baht-denominated bonds or debentures (Baht

Bond) in Thailand since 2004. The objective of this

policy is to create various debt instruments for Thai

bond market in order to serve domestic investorsû

needs in investment of high grade foreign bonds with

no foreign exchange risk. The permission has also

increased the confidence of foreign investors and

issuers and has promoted the development of the

Thai bond market.

°“√æ‘®“√≥“Õπÿ≠“µ„Àâπ‘µ‘∫ÿ§§≈µà“ßª√–‡∑»

“¡“√∂ÕÕ°æ—π∏∫—µ√À√◊ÕÀÿâπ°Ÿâ °ÿ≈‡ß‘π∫“∑„π

ª√–‡∑»‰∑¬π—Èπ ¡’√Õ∫√–¬–‡«≈“°“√æ‘®“√≥“

Õπÿ≠“µ°”Àπ¥‡ªìπªïªØ‘∑‘π (¡°√“§¡-∏—π«“§¡)

·≈–®–‡ªî¥‚Õ°“ „ÀâºŸâ∑’Ë π„®®–ÕÕ°æ—π∏∫—µ√À√◊Õ

Àÿâπ°Ÿâ °ÿ≈‡ß‘π∫“∑„πª√–‡∑»‰∑¬¬◊Ëπ¢ÕÕπÿ≠“µ‰¥âªï≈–

4 §√—Èß‡ªìπ√“¬‰µ√¡“ °“√æ‘®“√≥“·µà≈–§√—Èß®–‡ªìπ

‰ªÕ¬à“ß√–¡—¥√–«—ß‚¥¬‰¥â§”π÷ß∂÷ßº≈°√–∑∫µàÕ°“√

ÕÕ°Àÿâπ°Ÿâ¢Õß¿“§‡Õ°™π‰∑¬ ‚Õ°“ ∑’Ëπ—°≈ß∑ÿπ„π

ª√–‡∑» “¡“√∂≈ß∑ÿπ„πµ√“ “√Àπ’È∑’Ë¡’§ÿ≥¿“æ¥’

·≈–°“√æ—≤π“µ≈“¥µ√“ “√Àπ’È·≈â«‡ªìπÕ¬à“ß¥’

„πªï 2553 °√–∑√«ß°“√§≈—ßÕπÿ≠“µ„Àâ

π‘µ‘∫ÿ§§≈µà“ßª√–‡∑»∑’Ë “¡“√∂ÕÕ°æ—π∏∫—µ√À√◊Õ

Àÿâπ°Ÿâ °ÿ≈‡ß‘π∫“∑„πª√–‡∑»‰∑¬‰¥â√«¡ 17 √“¬

§‘¥‡ªìπ«ß‡ß‘π∑’ËÕπÿ≠“µ∑—Èß ‘Èπ 84,000 ≈â“π∫“∑ ‚¥¬

¡’√“¬≈–‡Õ’¬¥ª√“°Ø¥—ßµ“√“ß∑’Ë 4

The Permission to Issue Baht-denominated

bonds or debentures by foreign entities is considered

by a committee on a calendar year basis (January -

December). PDMO has opened for application for any

foreign entities who are interested in the issuance of

Baht-denominated bonds or debentures, to submit

the application quarterly (4 times per year). In the

consideration procedure, the Ministry of Finance has

considered carefully regarding to the effect on Thai

corporate bond issuances, the opportunity of

investment in high quality bonds by domestic

investors, and the development of bond market.

In year 2010, the Ministry of Finance had

approved 17 foreign entities to issue Baht-denominated

bonds and debentures with the total approval amount

of 84,000 million Baht (as shown in details in table 4).

µ“√“ß∑’Ë 4 : °“√Õπÿ≠“µ„Àâπ‘µ‘∫ÿ§§≈µà“ßª√–‡∑»ÕÕ°æ—π∏∫—µ√À√◊ÕÀÿâπ°Ÿâ °ÿ≈‡ß‘π∫“∑„πª√–‡∑»‰∑¬

Table 4 : The Permission of the Issuing Baht-denominated Bonds and Debentures by

Foreign Entities in Thailand

«ß‡ß‘π∑’Ë‰¥â√—∫ «—π∑’ËÕÕ° «ß‡ß‘π∑’ËÕÕ° Õ“¬ÿ (ªï) Õ—µ√“¥Õ°‡∫’È¬

Õπÿ≠“µ æ—π∏∫—µ√/ (≈â“π∫“∑) Maturity (µàÕªï)

π‘µ‘∫ÿ§§≈µà“ßª√–‡∑»∑’Ë‰¥â√—∫Õπÿ≠“µ (≈â“π∫“∑) Àÿâπ°Ÿâ Issued (yrs) Coupon

Authorized Foreign Entities Approval Date of Amount on Rate

Amount Issuance (THB mln.) (per year)

(THB mln.)

™à«ß‡«≈“°“√Õπÿ≠“µ„ÀâÕÕ°æ—π∏∫—µ√À√◊ÕÀÿâπ°Ÿâ °ÿ≈‡ß‘π∫“∑ : 15 °ÿ¡¿“æ—π∏å - 15 ‘ßÀ“§¡ 2553

The Approval Period of Issuing Baht - denominated bonds and Debentures : 15 February - 15 August 2010

∂“∫—π‡§√¥‘µ‡æ◊ËÕ°“√∫Ÿ√≥–·≈–æ—≤π“·Ààß 4,000 - - - -

Àæ—π∏å “∏“√≥√—∞‡¬Õ√¡—π

Kreditanstalt fur Wiederaufbau

(Credit Rating : AAA International)

∂“∫—π°“√‡ß‘π√—∞∫“≈¢Õß√“™Õ“≥“®—°√πÕ√å‡«¬å 4,000 - - - -

Kommunalbanken Norway


4948«ß‡ß‘π∑’Ë‰¥â√—∫ «—π∑’ËÕÕ° «ß‡ß‘π∑’ËÕÕ° Õ“¬ÿ (ªï) Õ—µ√“¥Õ°‡∫’È¬





(THB mln.)

∏π“§“√‚≈° 4,000 - - - -

International Bank for Reconstruction and

Development (Credit Rating : AAA International)

∂“∫—π°“√‡ß‘π¢Õß√“™Õ“≥“®—°√‡π‡∏Õ√å·≈π¥å 4,000 - - - -

Cooperatieve Centrale Raiffeisen - Boerenleenbank

B.A. - Rabobank (Credit Rating : AA+ International)

∂“∫—π°“√‡ß‘π√—∞∫“≈¢Õß√“™Õ“≥“®—°√ «’‡¥π 4,000 - - - -

Swedish Export Credit Corporation

(Credit Rating : AA+ International)

∂“∫—π°“√‡ß‘π¢Õßª√–‡∑»ÕÕ ‡µ√‡≈’¬ 4,000 - - - -

Commonwealth Bank of Australia

(Credit Rating : AA International)

∫√‘…—∑‡Õ°™π¢Õßª√–‡∑» À√—∞Õ‡¡√‘°“ 4,000 - - - -

Cargill Incorporated

(Credit Rating : A International)

√«¡√Õ∫∑’Ë 1/2553 28,000 -

The Total Amount of Period 1/2010

™à«ß‡«≈“°“√Õπÿ≠“µ„ÀâÕÕ°æ—π∏∫—µ√À√◊ÕÀÿâπ°Ÿâ °ÿ≈‡ß‘π∫“∑ : 1 ‡¡…“¬π - 30 °—π¬“¬π 2553

The Approval Period of Issuing Baht - denominated bonds and Debentures : 1 April - 30 September 2010

∫√√…—∑°“√‡ß‘π√–À«à“ßª√–‡∑» 4,000 - - - -

International Finance Corporation


∂“∫—π°“√‡ß‘π¢Õßª√–‡∑»ÕÕ ‡µ√‡≈’¬ 4,000 - - - -

Australia and New Zealand Banking Group Limited

(Credit Rating : AA International)

∂“∫—π°“√‡ß‘π¢Õßª√–‡∑»·§π“¥“ 4,000 - - - -

The Bank of Nova Scotia

(Credit Rating : AA- International)

∂“∫—π°“√‡ß‘π¢Õß Àæ—π∏å “∏“√≥√—∞‡¬Õ√¡—π 4,000 - - - -

Deutsche Bank

(Credit Rating : A+ International)

∂“∫—π°“√‡ß‘π√—∞∫“≈¢Õß “∏“√≥√—∞‡°“À≈’ 8,000 28 ¡‘.¬. 2553 1,000 3 2.80

The Export-Import Bank of Korea 28 Jun 2010

(Credit Rating : A International) 28 ¡‘.¬. 2553 3,000 10 3.95

28 Jun 2010

√«¡√Õ∫∑’Ë 2/2553 24,000 4,000


«ß‡ß‘π∑’Ë‰¥â√—∫ «—π∑’ËÕÕ° «ß‡ß‘π∑’ËÕÕ° Õ“¬ÿ (ªï) Õ—µ√“¥Õ°‡∫’È¬





(THB mln.)

™à«ß‡«≈“°“√Õπÿ≠“µ„ÀâÕÕ°æ—π∏∫—µ√À√◊ÕÀÿâπ°Ÿâ °ÿ≈‡ß‘π∫“∑ : 16 ‘ßÀ“§¡ - 31 ∏—π«“§¡ 2553

The Approval Period of Issuing Baht - denominated bonds and Debentures : 16 August - 31 December 2010

∂“∫—π°“√‡ß‘π√—∞∫“≈¢Õß “∏“√≥√—∞‡°“À≈’ 5,000 1 æ.¬. 2553 5,000 5 2.93

Industrial Bank of Korea 1 Nov 2010


∂“∫—π°“√‡ß‘π√—∞∫“≈¢Õß “∏“√≥√—∞‡°“À≈’ 5,000 24 æ.¬. 2553 3,000 3 2.94

Korea Development Bank 24 Nov 2553


√—∞«‘ “À°‘®¢Õß “∏“√≥√—∞‡°“À≈’ 4,000 - - - -

Korea Water Resources Corporation


√«¡√Õ∫∑’Ë 3/2553 14,000 8,000


™à«ß‡«≈“°“√Õπÿ≠“µ„ÀâÕÕ°æ—π∏∫—µ√À√◊ÕÀÿâπ°Ÿâ °ÿ≈‡ß‘π∫“∑ : 1 µÿ≈“§¡ 2553 - 31 ¡’π“§¡ 2554

The Approval Period of Issuing Baht - denominated bonds and Debentures : 1 October - 31 March 2011

∂“∫—π°“√‡ß‘πæÀÿ¿“§’¢ÕßÕ‡¡√‘°“°≈“ß

Central American Bank for Economic Integration

(Credit Rating : A- International)

∂“∫—π°“√‡ß‘π¢Õßª√–‡∑»‡π‡∏Õ√å·≈π¥å 10,000 30 ¡’.§. 2554 5,740 3 3.72

ING Bank N.V. (ING) 30 Mar 2011

(Credit Rating : A+ International) 30 ¡’.§. 2554 4,260 5 4.09

30 Mar 2011

∂“∫—π°“√‡ß‘π√—∞∫“≈¢Õß “∏“√≥√—∞‡°“À≈’ 8,000 8 °.æ. 2554 2,200 3 3.72

The Export-Import Bank of Korea 8 Feb 2011


√«¡√Õ∫∑’Ë 4/2553 18,000 12,200


¬Õ¥√«¡¢Õßªï 2553 84,000 24,000

Total Amount of Year 2010

5150

6. The Establishment of Credit

Guarantee and Investment Facility

(CGIF) in ASEAN+3 Countries

In the fiscal year of 2010, PDMO has focused

on deepening the development of the government bond

market as well as has encouraged private sector to

raise funds by issuing corporate bonds. One of the

initiatives PDMO, as the representative of Thailand,

has taken is to coordinate with ASEAN+3 countries

(Brunei, Cambodia, Indonesia, Japan, Korea, Malaysia,

Myanmar, Laos, the Peopleûs Public of China,

Philippines, Singapore, Thailand and Vietnam), and Asian

Development Bank (ADB) to establish a mechanism

that facilitates the private sector to issue bonds, called

çCredit Guarantee and Investment Facility (CGIF)é.

6. °“√®—¥µ—ÈßÀπà«¬ß“π§È”ª√–°—π‡§√¥‘µ·≈–°“√

≈ß∑ÿπ¢Õß¿Ÿ¡‘¿“§Õ“‡´’¬π+3 (Credit Guarantee and

Investment Facility: CGIF)

∫π. ‰¡à‡æ’¬ß·µà„Àâ§«“¡ ”§—≠„π‡√◊ËÕß°“√

æ—≤π“µ≈“¥µ√“ “√Àπ’È¢Õß√—∞∫“≈‡∑à“π—Èπ·µà¬—ß„Àâ

§«“¡ ”§—≠„π‡√◊ËÕß°“√ π—∫ πÿπ„Àâ¿“§‡Õ°™π√–¥¡

∑ÿπ¥â«¬°“√ÕÕ°µ√“ “√Àπ’È¥â«¬‡™àπ°—π ‚¥¬„πªï

ß∫ª√–¡“≥ 2553 π’È ∫π. „π∞“π–µ—«·∑π¢Õß

ª√–‡∑»‰∑¬‰¥â¥”‡π‘π°“√√à«¡°—∫√—∞∫“≈¢Õß°≈ÿà¡

ª√–‡∑»Õ“‡´’¬π+3 (´÷Ëßª√–°Õ∫¥â«¬ ∫√Ÿ‰π °—¡æŸ™“

Õ‘π‚¥π’‡´’¬ ≠’ËªÿÉπ ‡°“À≈’„µâ ¡“‡≈‡´’¬ æ¡à“ ®’π ≈“«

øî≈‘ªªîπ å ‘ß§‚ª√å ‰∑¬ ·≈–‡«’¬¥π“¡) ·≈–∏π“§“√

æ—≤π“‡Õ‡™’¬ (Asian Development Bank: ADB)

„π°“√À“·π«∑“ß°“√ √â“ß°≈‰°∑’Ë®–™à«¬Õ”π«¬

§«“¡ –¥«°„Àâ·°à¿“§‡Õ°™π‡æ◊ËÕ„Àâ “¡“√∂ÕÕ°

µ√“ “√Àπ’È‰¥âßà“¬¢÷Èπ ´÷Ëß°≈‰°∑’Ë°≈à“«§◊ÕÀπà«¬ß“π

§È”ª√–°—π‡§√¥‘µ·≈–°“√≈ß∑ÿπ·Ààß¿Ÿ¡‘¿“§Õ“‡ ’¬π+3

(Credit Guarantee and Investment Facility: CGIF)

CGIF ®—¥µ—Èß‚¥¬¡’‡ß‘π∑ÿπ∑’Ë¡“®“°°“√√à«¡

≈ß∑ÿπ°—π¢Õßª√–‡∑» ¡“™‘°∑—Èß 13 ª√–‡∑»·≈– ADB

‡ªìπ®”π«π 700 ≈â“π‡À√’¬≠ À√—∞ ‚¥¬ CGIF ®–¡“

∑”Àπâ“∑’Ë§È”ª√–°—πµ√“ “√Àπ’È„Àâ°—∫¿“§‡Õ°™π∑’Ëµ—Èß

Õ¬Ÿà„π°≈ÿà¡ª√–‡∑»Õ“‡´’¬π+3 ‚¥¬‡¡◊ËÕ§È”ª√–°—π·≈â«

®–∑”„Àâµ√“ “√Àπ’Èπ—Èπ¡’Õ—π¥—∫§«“¡πà“‡™◊ËÕ∂◊Õ∑’Ë Ÿß

¢÷Èπ·≈– àßº≈„Àâµâπ∑ÿπ‚¥¬√«¡¢Õß°“√ÕÕ°µ√“ “√Àπ’È

≈¥µË”≈ß πÕ°®“°π’È¬—ß∑”„Àâ¿“§‡Õ°™π “¡“√∂ÕÕ°

µ√“ “√Àπ’È∑’Ë¡’Õ“¬ÿ¬“«¢÷Èπ‡æ◊ËÕ„Àâ Õ¥§≈âÕß°—∫√–¬–

§◊π∑ÿπ¢Õß¿“§‡Õ°™π‰¥â¡“°¢÷Èπ¥â«¬

·≈–‡æ◊ËÕ„Àâª√–‡∑»‰∑¬‰¥â‡¢â“√à«¡‡ªìπÀπ÷Ëß„π

ª√–‡∑» ¡“™‘°∑’Ë®—¥µ—Èß CGIF π’È‰¥â ∫π. ®÷ßµâÕß

¥”‡π‘π°“√¢Õ§«“¡‡ÀÁπ™Õ∫®“°√—∞ ¿“µ“¡¡“µ√“

190 ·Ààß√—∞∏√√¡πŸ≠‰∑¬ ·≈– ∫π. ‰¥â®—¥„Àâ¡’°“√

√—∫øíß§«“¡§‘¥‡ÀÁπ¢Õßª√–™“™π·≈–ºŸâ‡°’Ë¬«¢âÕß∑’Ë

Õ“®‰¥â√—∫º≈°√–∑∫®“°°“√®—¥∑”§«“¡µ°≈ßπ’È

¥â«¬·≈â«‚¥¬‡√◊ËÕß¥—ß°≈à“«π’È®–‡¢â“ Ÿà«“√–°“√æ‘®“√≥“

¢Õß√—∞ ¿“„π™à«ßµâπªïß∫ª√–¡“≥ 2554

CGIF was established by the governments of

13 countries and ADB with the initial capital of 700

million US Dollars. CGIF will provide guarantee bonds

issued by private sector that is located in ASEAN+3

countries. The guaranteed bonds would be able to

receive higher credit rating, resulting in lower overall

costs. In addition, the guarantee will enable private

sector to issue bonds with longer maturity which will

help them avoid maturity mismatched.

To be the established member of CGIF, PDMO

proposed the framework of CGIF establishment to the

National Assembly for consideration in accordance with

the requirement under the constitution of Thailand;

Act 190. PDMO also conducted a public hearing among

general public and other affected entities. However,

the framework will be considered by the National

Assembly at the beginning of the fiscal year 2011.

53

„π™à«ß∑’Ëºà“π¡“ ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

‰¥â¡’°“√æ—≤π“√–∫∫‡∑§‚π‚≈¬’ “√ π‡∑» ·≈–π”

¡“ª√—∫„™â„πÕß§å°√¡“‚¥¬µ≈Õ¥ ”À√—∫ „πªï æ.».

2553 ‰¥â¡’°“√ª√—∫ª√ÿß√–∫∫°“√ ◊ËÕ “√„πÕß§å°√„À¡à

„Àâ¡’§«“¡∑—π ¡—¬¬‘Ëß¢÷Èπ ‚¥¬‰¥âª√—∫ª√ÿß√–∫∫ E-mail

„Àâ¡’§«“¡∑—π ¡—¬·≈–‡™◊ËÕ¡‚¬ß°“√∑”ß“π‚¥¬π”

‡∑§‚π‚≈¬’¢Õß∫√‘…—∑‰¡‚§√´Õø∑å∑’Ë¡’™◊ËÕ«à“ Microsoft

Exchange Server 2010 ¡“„™â„π°“√‡æ‘Ë¡ª√– ‘∑∏‘¿“æ

¢ÕßÕß§å°√„Àâ‡¢â¡·¢Áß„π¥â“π¢Õß°“√ ◊ËÕ “√

®“°°“√∑’Ë‡∑§‚π‚≈¬’ ¡—¬„À¡à∑’Ë‡ª≈’Ë¬π·ª≈ß‰ª

Õ¬à“ß√«¥‡√Á«·≈–¡’√“§“≈¥≈ßÕ¬à“ß¡“°‡¡◊ËÕ‡∑’¬∫°—∫

„πÕ¥’µ‡¡◊ËÕª√–¡“≥ 10 ªï∑’Ëºà“π¡“ ‰¥â∑”„Àâ®”π«π

ºŸâ„™â‡∑§‚π‚≈¬’ “√ π‡∑»¡’‡æ‘Ë¡¢÷Èπ∑ÿ°«—π ·≈–‰¥â°≈“¬

¡“‡ªìπ à«πÀπ÷Ëß∑’Ë®”‡ªìπµàÕ°“√¥”‡π‘π°‘®°√√¡

„πÕß§å°√ ‡∑§‚π‚≈¬’‡À≈à“π’È‰¥â·°à Õ‘π‡∑Õ√å‡πÁµ

°“√ª√–™ÿ¡«‘¥’‚Õ∑“ß‰°≈ √–∫∫‡§√◊Õ¢à“¬ ·≈–√–∫∫

“√ π‡∑»‡æ◊ËÕ°“√«‘‡§√“–Àå·≈–µ—¥ ‘π„® √«¡∂÷ß

‡∑§‚π‚≈¬’°“√ ◊ËÕ “√¿“¬„πÕß§å°√ ∑’Ë‰¥â¡’°“√æ—≤π“

‡ªìπÕ¬à“ß¡“°„π∫“ßÕß§å°√¬—ß„™â°“√ªî¥ª√–°“»‚¥¬

¬ÿ∑∏»“ µ√å∑’Ë 3æ—≤π“Õß§å°√„Àâ‡¢â¡·¢Áß·≈–¡’ª√– ‘∑∏‘¿“æ¥â“π‡∑§‚π‚≈¬’ “√ π‡∑»Strategy 3:Organisation Development through theStrengthening and Improving Efficiencyof Information Technology

PDMO has continuously developed and improved

the IT system over the years. In FY 2010, PDMO has

modernised the communication system in the

organisation by improving the e-mail system and linked

it with the Microsoftûs technology, which called

Microsoft Exchange Server 2010, to strengthening the

efficiency of the organisational communication.

As a result from the rapid changes in

technology and with the cheaper price during the last

10 years, the numbers of IT users have increased

continuously. Therefore, IT has become an important

factor for the operations within the organisation such

as internet, video conference, network system,

information system for analysis and decision making

and organisational communication. However, some

organisations still use the traditional way, the notice

board, which is a one way communication that is not

specify to individual receivers. Therefore, technology

can help facilitating the effective and efficient

communication through e-mail.

52

„™â°√–¥“…µ“¡∫Õ√å¥µà“ßÊ ‡æ◊ËÕ ◊ËÕ “√¢âÕ¡Ÿ≈¢à“« “√

µà“ßÊ ·µà°“√ªî¥ª√–°“»‚¥¬„™â∫Õ√å¥π’È‡ªìπ°“√

◊ËÕ “√·∫∫∑“ß‡¥’¬«∑’Ë‰¡à àß∂÷ß‡©æ“–µ—«∫ÿ§§≈ ´÷Ëß

Õ“®∑”„Àâ‡°‘¥ªí≠À“§«“¡‰¡à∑—Ë«∂÷ß¢Õß°“√ ◊ËÕ “√

·≈–À“°®–∑”°“√ ◊ËÕ “√¢âÕ§«“¡∫“ßÕ¬à“ß·∫∫∂÷ß

µ—«∫ÿ§§≈∑—ÈßÕß§å°√ °ÁÕ“®µâÕß„™âµâπ∑ÿπ∑’Ë Ÿß·≈–¬—ß

‡ ’¬‡«≈“Õ’°¥â«¬ „π‡√◊ËÕßπ’È‡∑§‚π‚≈¬’‰¥â‡¢â“¡“¡’ à«π

™à«¬„Àâ‡°‘¥§«“¡ –¥«° √«¥‡√Á« ∂Ÿ°µâÕß·≈–ª√–À¬—¥

‡«≈“„π°“√ ◊ËÕ “√≈ß‰ª‰¥â¥â«¬°“√„™âÕ’‡¡≈å (Email)

∑’Ëºà“π¡“∫ÿ§≈“°√„πÕß§å°√À√◊ÕÀπà«¬ß“πµà“ßÊ

¢Õß¿“§√—∞¡’°“√„™âß“π®¥À¡“¬Õ‘‡≈Á°∑√Õπ‘° å

À√◊Õ E-mail ø√’ ∑’Ë®—¥∑”¢÷Èπ‚¥¬∫√‘…—∑‡Õ°™π¢Õß

µà“ßª√–‡∑»∑”„Àâ¢âÕ¡Ÿ≈¢Õß∑“ßÀπà«¬ß“ππ—ÈπÊ

∂Ÿ° ”‡π“‰«â„π‡§√◊ËÕß§Õ¡æ‘«‡µÕ√å¢Õß‡Õ°™π °√–π—Èπ

À“°„πÕπ“§µ∫√‘…—∑‡À≈à“π—Èππ”¢âÕ¡Ÿ≈¡“«‘‡§√“–Àå

‡æ◊ËÕ„™â„π«—µ∂ÿª√– ß§åÕ◊Ëπ √«¡∂÷ß Õ¥·π¡‡Õ° “√

∑’Ë∑“ßÀπà«¬ß“π‰¥â¥”‡π‘π°“√¿“¬„πÕß§å°√·≈–¬—ßÕ¬Ÿà

„π∞“π–ª°ªî¥®π°«à“®–‰¥â√—∫Õπÿ¡—µ‘ ´÷ËßÕ“®‡°‘¥

º≈‡ ’¬À“¬°—∫Àπà«¬ß“ππ—Èπ„πÕπ“§µ‰¥â®π°√–∑—Èß

¡’¡µ‘ §√¡. ‡¡◊ËÕ«—π∑’Ë 18 ∏—π«“§¡ 2550 „Àâ∑ÿ°

Àπà«¬ß“π√“™°“√„™â E-mail ®“°√–∫∫¢Õßµπ‡Õß

´÷Ëß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–„π¢≥–π—Èπ¬—ß‰¡à¡’

In the past, some of the public sectorûs staffs

use the free e-mail that created by the foreign private

companies, which makes all the information in the

emails was copied in the private sectorûs computer

systems. Therefore, if those companies use such

information for their own benefits including tapping in

on the secret insider information, it could be damaged

the organisations in the future. When the cabinet

ordered every government agencies to set up their

own email system on December 18th, 2007, PDMO,

who did not have its own email system at that time,

asked the Office of Permanent Secretary to use their

email system. Unfortunately, there were many

problems. As a result, PDMO decided to develop its

own email system by using the Microsoft Exchange

system. This system has Workgroup operation

system that allows users to use and organise their

email, appointment calendar and record data in

Microsoft supporting software such as MS words and

MS Excel. After the system implementation, the

efficiency of organisational communication within

PDMO has increased significantly.

55

√–∫∫‡ªìπ¢ÕßÕß§å°√‡Õß ‚¥¬‰¥â¢Õ§«“¡Õπÿ‡§√“–Àå

¢Õ„™âß“π√à«¡°—∫ ”π—°ß“πª≈—¥°√–∑√«ß°“√§≈—ß

´÷Ëß¡’ªí≠À“„π°“√∫√‘À“√®—¥°“√Õ¬ŸàæÕ ¡§«√ ∑—Èß¬—ß

‰¡à¡’ ‡Õ°¿“æ„π°“√®—¥°“√ ”π—°ß“π∫√‘À“√Àπ’È

“∏“√≥–®÷ß‰¥â‡≈Áß‡ÀÁπ∂÷ß§«“¡ ”§—≠„π°“√„™âß“π

◊ËÕ “√„πÕß§å°√·≈–‰¥â¡’‚§√ß°“√æ—≤π“√–∫∫ E- mail

¢÷Èπ¡“·≈–‰¥â‡≈◊Õ°º≈‘µ¿—≥±å¢Õß∫√‘…—∑‰¡‚§√´Õø∑å

∑’Ë¡’™◊ËÕ«à“ Exchange ¡“„™â„π°“√æ—≤π“´÷Ëß¡’≈—°…≥–

°“√∑”ß“π·∫∫ Workgroup π—Ëπ§◊ÕπÕ°®“°®–√—∫ àß

®¥À¡“¬·≈â«¬—ß “¡“√∂∫√‘À“√ß“π¥â“π®¥À¡“¬,

ªØ‘∑‘ππ—¥À¡“¬, ∫—π∑÷°°“√∑”ß“π∫π Software ∑’Ë

Microsoft π—∫ πÿπ ‡™àπ Microsoft Word, Microsoft

Excel ‡ªìπµâπ ´÷Ëß‡ªìπ‚ª√·°√¡∑’Ë‡™◊ËÕ¡‚¬ß„π°“√

∑”ß“π°—πÕ¬Ÿà·≈â« ∑—Èß¬—ß “¡“√∂‡™◊ËÕ¡‚¬ß°—∫Õß§å°√

¿“¬πÕ°‰¥â∂â“À“°„™âº≈‘µ¿—≥±åÕ¬à“ß Exchange

‡À¡◊Õπ°—π·≈–À≈—ß®“°°“√µ‘¥µ—Èß√–∫∫·≈–‰¥â‡√‘Ë¡

„™âß“π·≈â« °Á∂◊Õ«à“ª√– ∫§«“¡ ”‡√Á®„π¥â“π°“√

„™âß“π‡ªìπÕ¬à“ß¡“° ´÷Ëß‡°‘¥®“°§«“¡√à«¡¡◊Õ¢Õß

∫ÿ§≈“°√∑’Ë√à«¡°—π„™âß“π∑”„Àâ°“√ ◊ËÕ “√¿“¬„π

Õß§å°√‡°‘¥ª√– ‘∑∏‘¿“æÕ¬à“ß¡“° ∑—Èß¬—ß‡ªìπ°“√™à«¬

ª√–À¬—¥°√–¥“…≈ß¥â«¬

To develop the organisation efficiently, IT is the

important and necessary instrument to create the

advantage in organisational development. However,

there are many key factors for the successful

development such as hardware, software, database,

the complication of operational process and the most

important: the users. The implementation process must

be well-managed so the users will accept and fully

utilise the use of technology.

54

¥—ßπ—Èπ °“√π”‡Õ“‡∑§‚π‚≈¬’ “√ π‡∑»¡“„™â‡æ◊ËÕ

™à«¬„π°“√æ—≤π“Õß§å°√ ‡ªìπ‡§√◊ËÕß¡◊Õ∑’Ë ”§—≠·≈–

®”‡ªìπ∑’Ë®– √â“ß§«“¡‰¥â‡ª√’¬∫„π°“√æ—≤π“Õß§å°√

Õ¬à“ß‰√°Áµ“¡ °“√π”‡∑§‚π‚≈¬’¡“„™â„π°“√æ—≤π“

Õß§å°√„Àâ ”‡√Á®°Á¢÷ÈπÕ¬Ÿà°—∫§«“¡æ√âÕ¡¢Õßªí®®—¬

¿“¬„πÕß§å°√À≈“¬¥â“π ‡™àπ Œ“√å¥·«√å ´Õø∑å·«√å

∞“π¢âÕ¡Ÿ≈ §«“¡´—∫´âÕπ¢Õß°√–∫«π°“√∑”ß“π

·≈–∑’Ë ”§—≠∑’Ë ÿ¥§◊ÕºŸâ„™âß“π ‚¥¬µâÕßÕ“»—¬°“√

∫√‘À“√°“√‡ª≈’Ë¬π·ª≈ß∑’Ë¥’ ‡æ◊ËÕ„ÀâºŸâ„™â‡°‘¥°“√

¬Õ¡√—∫·≈–„™âß“π‡∑§‚π‚≈¬’‰¥âÕ¬à“ß‡µÁ¡ª√– ‘∑∏‘¿“æ

°“√æ—≤π“√–∫∫°“√∫√‘À“√∑√—æ¬“°√∫ÿ§§≈

¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥– ( ∫π.) ¥”‡π‘π°“√

¿“¬„µâ·ºπ°≈¬ÿ∑∏å°“√∫√‘À“√∑√—æ¬“°√∫ÿ§§≈

(HR Scorecard) ´÷Ëß‡ªìπ‡§√◊ËÕß¡◊Õ ”À√—∫„™âª√–‡¡‘π

º≈ ”‡√Á®¥â“π°“√∫√‘À“√∑√—æ¬“°√∫ÿ§§≈ ‡æ◊ËÕπ”‰ª Ÿà

°“√æ—≤π“·≈–‡æ‘Ë¡¢’¥ ¡√√∂π–°”≈—ß§π¢ÕßÕß§å°√

„Àâ¡’§«“¡‡¢â¡·¢Áß·≈– Õ¥√—∫°—∫¿“√°‘®¢Õß ∫π.

‚¥¬„πªïß∫ª√–¡“≥ æ.». 2553 ∫π. ª√– ∫§«“¡

”‡√Á®„π°“√¥”‡π‘π°“√‚§√ß°“√µà“ßÊ ª√–°Õ∫¥â«¬

1. ·ºπÕ—µ√“°”≈—ß ·ºπÕ—µ√“°”≈—ß¢Õß ∫π.

π—∫«à“¡’§«“¡ ”§—≠¡“° ‡π◊ËÕß®“°µ—Èß·µà®—¥µ—Èß‡ªìπ

Àπà«¬ß“π√–¥—∫°√¡„πªï æ.». 2545 ∫π. ¬—ß‰¡à‡§¬

The human resource management of PDMO

has been develop under the HR Scorecard, which is

the instrument to evaluate the success of HR

management in order to develop and strengthen the

efficiency of PDMO staffs to match with PDMO

missions. In FY 2010, PDMO was successful in

implementing many projects as follows:

1. Manpower Plan PDMO is the small

organization with the manpower of only 200 staffs,

which are comprised of 151 government officials, 8

government employees and 100 temporary staffs (hired

by the off-budget budget). Therefore, the set up of the

manpower plan is very important because it will

reflect the appropriate manpower framework that

matches the organisationûs mission and workloads.

57

®—¥∑”·ºπÕ—µ√“°”≈—ßµ“¡ª√‘¡“≥ß“π·≈–¿“√°‘®

¥—ßπ—Èπ °“√®—¥∑”·ºπÕ—µ√“°”≈—ß®– –∑âÕπ∂÷ß¿“√°‘®

·≈–ª√‘¡“≥∑’ËµâÕß Õ¥§≈âÕß°—∫Õ—µ√“°”≈—ß∑’Ë·∑â®√‘ß

‚¥¬‡ªìπ°“√°”Àπ¥·ºπ°”≈—ß§π∑’Ë ‡À¡“– ¡°—∫

°√Õ∫Õ—µ√“°”≈—ß·≈–µ”·Àπàßß“π ´÷Ëßªí®®ÿ∫—π ∫π.

‡ªìπÀπà«¬ß“π¢π“¥‡≈Á°¡’Õ—µ√“°”≈—ß‡æ’¬ß 200 Õ—µ√“

ª√–°Õ∫¥â«¬ ¢â“√“™°“√ 151 Õ—µ√“ æπ—°ß“π√“™°“√

8 Õ—µ√“ ·≈–≈Ÿ°®â“ß™—Ë«§√“« (‡ß‘ππÕ°ß∫ª√–¡“≥ 100

Õ—µ√“)

2. ·ºπ‡ âπ∑“ß‡¥‘π “¬Õ“™’æ ‡π◊ËÕß®“°

ªí®®ÿ∫—π¡’Õ—µ√“°“√‡¢â“ÕÕ°¢Õß∫ÿ§≈“°√ ∫π.

®”π«π¡“° “‡ÀµÿÀπ÷Ëß¡“®“°‰¡à‡ÀÁπ«à“„πÕπ“§µ®–

¡’§«“¡°â“«Àπâ“„πÕ“™’æ‰ª∑“ß‰Àπ ¥—ßπ—Èπ ∫π.

‡ÀÁπ§«“¡ ”§—≠¢Õß°“√®—¥∑”·ºπ‡ âπ∑“ß‡¥‘π

“¬Õ“™’æ¢Õß ∫π. ‡æ◊ËÕ„Àâ∫ÿ§≈“°√¢Õß ∫π. ‚¥¬

‡©æ“–¢â“√“™°“√ “¡“√∂∑√“∫·≈–¡Õß‡ÀÁπ§«“¡

°â“«Àπâ“„π “¬Õ“™’æ¢Õßµπ‡Õß‰¥âÕ¬à“ß™—¥‡®π·≈–

¡—Ëπ§ß¬‘Ëß¢÷Èπ ´÷Ëß‡ âπ∑“ß‡¥‘π “¬Õ“™’æ¢Õß ∫π.

®–°”Àπ¥ß“π¥â“π∫√‘À“√ ß“π¥â“π‡™’Ë¬«™“≠ ß“π

¢â“√“™°“√ªØ‘∫—µ‘°“√·≈–¢â“√“™°“√ºŸâ¡’º≈ —¡ƒ∑∏‘Ï Ÿß

¢Õß∑ÿ° “¬ß“π„π ”π—°µà“ßÊ

2. Succession Plan As a result from the

high turnover ratio of PDMO staffs, PDMO has set up

the succession plan for the staffs so the government

officials will be able to foresee their career paths more

clearly. The plan included the succession plan for

management level, specialist level, practitional level,

professional level and HIPPs of every bureau.

56

3. ·ºπæ—≤π“√–∫∫∫√‘À“√º≈°“√ªØ‘∫—µ‘

√“™°“√ „πªïß∫ª√–¡“≥ æ.». 2553 ”π—°ß“π °.æ.

°”Àπ¥„Àâ∑ÿ° à«π√“™°“√π”√–∫∫∫√‘À“√º≈°“√

ªØ‘∫—µ‘√“™°“√ (Performance Management Systems :

PMS) ¡“„™â„π°“√ª√–‡¡‘πº≈°“√ªØ‘∫—µ‘ß“π¢Õß

¢â“√“™°“√æ≈‡√◊Õπ„π√–∫∫√“™°“√ ‚¥¬„Àâ°”Àπ¥

µ—«™’È«—¥√–¥—∫∫ÿ§§≈ (KPI) ·≈– ¡√√∂π–À≈—°

(Competency) ”À√—∫∫ÿ§§≈ ÷Ëß°“√¥”‡π‘π°“√¥—ß°≈à“«

‡ªìπ‡√◊ËÕß„À¡à∑’Ë√–∫∫√“™°“√‰¡à‡§¬¡’¡“°àÕπ ¥—ßπ—Èπ

∂◊Õ‡ªìπ‡√◊ËÕß„À≠à¡“°∑’Ë®–ª√—∫‡ª≈’Ë¬π·π«§‘¥·≈–

·π«∑“ß°“√¥”‡π‘π°“√®“°‡¥‘¡„Àâ‡ªìπ·π«∑“ß„À¡à

‚¥¬µâÕßÕ“»—¬§«“¡√à«¡¡◊Õ®“°∫ÿ§≈“°√¢Õß ∫π.

¥â«¬ ‡æ◊ËÕ„Àâ°“√®—¥∑”√–∫∫∫√‘À“√º≈°“√ªØ‘∫—µ‘

√“™°“√¥—ß°≈à“«ª√– ∫§«“¡ ”‡√Á®·≈–¥”‡π‘π°“√‰¥â

„πªïß∫ª√–¡“≥ æ.». 2553

4. °“√®—¥∑”√–∫∫∞“π¢âÕ¡Ÿ≈ (√–∫∫ DPIS

·≈– °.æ. 7) √–∫∫∞“π¢âÕ¡Ÿ≈∫ÿ§≈“°√¢Õß ∫π.

¡’ 2 √–∫∫ §◊Õ (1) √–∫∫‚ª√·°√¡ “√ π‡∑»

∑√—æ¬“°√∫ÿ§§≈√–¥—∫°√¡ (DPIS) ´÷Ëß‡ªìπ√–∫∫¢Õß

”π—°ß“π °.æ. ‚¥¬ªí®®ÿ∫—π‰¥â√—∫°“√æ—≤π“‡ªìπ

‡«Õ√å™—Ëπ 4.0 „™â ”À√—∫‡°Á∫¢âÕ¡Ÿ≈∫ÿ§≈“°√„π√Ÿª·∫∫

Õ‘‡≈Á°∑√Õπ‘° å ‡æ◊ËÕ§«“¡ –¥«°„π°“√§âπÀ“·≈–

‡°Á∫√—°…“ ·≈– (2) ·øÑ¡ª√–«—µ‘·≈– °.æ. 7 ‡ªìπ°“√

‡°Á∫¢âÕ¡Ÿ≈∫ÿ§≈“°√„π√Ÿª·∫∫°√–¥“… ´÷Ëß‡ªìπ

3. Performance Management System

(PM) In FY 2010, Office of Civil Service Commission

(OCSC) implemented the PM system to evaluate the

performance of the civil servants. Officials have to

set up their own KPI and individual competency. This

operation is new in the government system,

therefore; it needed good cooperation from PDMO

staffs to launch a successful PM system within FY

2010.

4. Database Management PDMO has 2

HR database systems, i.e. (1) DPIS system, which is

the electronic database system implemented by OCSC

and Z2X record files and Gor Por 7 forms, which is the

paper-form database.

59

√–‡∫’¬∫∑’Ë ”π—°ß“π °.æ. °”Àπ¥„Àâ®—¥‡°Á∫¢âÕ¡Ÿ≈„π

√Ÿª·∫∫¥—ß°≈à“«µ—Èß·µà‡√‘Ë¡∫√√®ÿ‡¢â“√—∫√“™°“√√“¬∫ÿ§§≈

5. °“√ª√–™“ —¡æ—π∏å¢Õß¢âÕ¡Ÿ≈¥â“π

∑√—æ¬“°√∫ÿ§§≈ ªí®®ÿ∫—π ∫π. ¡’°“√ª√–™“ —¡æ—π∏å

¢âÕ¡Ÿ≈¢à“« “√¥â“π∑√—æ¬“°√∫ÿ§§≈∑’Ëπà “ π„®

„π√Ÿª·∫∫µà“ßÊ ‰¥â·°à ºà“π ◊ËÕ Internet ·≈– Intranet

°“√ª√–™ÿ¡™’È·®ß ∫Õ√å¥ª√–™“ —¡æ—π∏å ‚∑√∑—»πå¿“¬„π

POP UP Àπ—ß ◊Õ‡«’¬π E-mail √“¬∫ÿ§§≈ ‡ªìπµâπ ‚¥¬

‡π◊ËÕÀ“∑’Ëª√–™“ —¡æ—π∏å ‰¥â·°à Àπ—ß ◊Õ‡«’¬π„À¡àÊ

√ÿªª√–‡¥Áπ∑’Ëπà“ π„® ‡™àπ ‘∑∏‘ª√–‚¬™πå ª√–°“»

µà“ßÊ (√—∫ ¡—§√ À≈—°‡°≥±å √–‡∫’¬∫) À≈—° Ÿµ√Õ∫√¡

∑ÿπ°“√»÷°…“ ‡ªìπµâπ

6. °“√ª∞¡π‘ ‡∑»∫ÿ§≈“°√„À¡à „ πªï

ß∫ª√–¡“≥ æ.». 2553 ”π—°ß“π °.æ. °”Àπ¥

√Ÿª·∫∫„À¡à‡°’Ë¬«°—∫°“√∑¥≈ÕßªØ‘∫—µ‘Àπâ“∑’Ë√“™°“√

¢Õß¢â“√“™°“√∫√√®ÿ„À¡à ‡ªìπ 3 à«π §◊Õ °“√ª∞¡π‘‡∑»

°“√‡√’∫π√Ÿâ¥â«¬µπ‡Õß ·≈–°“√‡√’¬π√Ÿâ√à«¡°—π ¥—ßπ—Èπ

∫π. ®÷ß°”Àπ¥„Àâ¡’°“√®—¥∑”°“√ª∞¡π‘‡∑»

∫ÿ§≈“°√„À¡à¢Õß ∫π. ‡æ◊ËÕ„Àâ∫ÿ§≈“°√„À¡à¢Õß ∫π.

√Ÿâ®—°·≈–‡¢â“„®√–∫∫√“™°“√·≈–¿“√°‘®ß“π¢Õß

∫π. ¡“°¢÷Èπ ·≈– Õ¥§≈âÕß°—∫√–‡∫’¬∫ ”π—°ß“π

°.æ. ‚¥¬¡’ºŸâ‡¢â“√à«¡‚§√ß°“√ ª√–¡“≥ 45 §π

√–¬–‡«≈“ 6 «—π

5. Public Relation of HR Data PDMO

improved its public relation channels on HR data such

as training courses, scholarships and other benefits

through internet, intranet, meeting, PR boards,

internal TV broadcasting, Pop up, circulated letters

and e-mail.

6. New Staff Orientation In FY 2010, OCSC

set up new guideline for the probation of the new

government officials into 3 parts: the orientation,

self-learning and team learning. Therefore, PDMO

arranged the 6 days orientation for the 45 new staffs

in order to create better understanding in PDMO

responsibility and government operation processes.

58

7. °‘®°√√¡ —¡æ—π∏å „πªïß∫ª√–¡“≥ æ.».

2553 ∫π. °”Àπ¥„Àâ®—¥°‘®°√√¡ —¡æ—π∏å‡æ◊ËÕ‡æ‘Ë¡æŸπ

§«“¡√Ÿâ·≈–§«“¡ —¡æ—π∏å√–À«à“ßºŸâ∫√‘À“√·≈–

∫ÿ§≈“°√ºŸâªØ‘∫—µ‘ß“π¢Õß ∫π. „Àâ¡’§«“¡‡¢â“„®·≈–

¡’ªØ‘ —¡æ—π∏åÕ—π¥’√–À«à“ß°—π¡“°¢÷Èπ ‡æ◊ËÕ‡æ‘Ë¡

ª√– ‘∑∏‘¿“æ·≈–ª√– ‘∑∏‘º≈„π°“√∑”ß“πµ“¡

¿“√°‘®¢Õß ∫π. „Àâ¡“°¬‘Ëß¢÷Èπ

8. °“√®—¥°“√°—∫∫√√¬“°“»·≈–§«“¡

–Õ“¥„πÕß§å°√ ‡π◊ËÕß®“°ªí®®ÿ∫—π ∫π. ª√– ∫

ªí≠À“‡°’Ë¬«°—∫ ∂“π∑’Ëµ—Èß¢ÕßÀπà«¬ß“π∑’Ë§—∫·§∫

·≈–‰¡à –Õ“¥ ‚¥¬„πªïß∫ª√–¡“≥ æ.». 2553 ∫π.

‰¥â®—¥º—ß∑’Ëπ—Ëß„À¡à„Àâ “¡“√∂√Õß√—∫∫ÿ§≈“°√‰¥â¡“°¢÷Èπ

æ√âÕ¡∑—Èß√≥√ß§å„π‡√◊ËÕß§«“¡ –Õ“¥·≈–°“√¥Ÿ·≈√—°…“

πÕ°®“°π’È ∫π. ‰¥âæ¬“¬“¡®—¥À“ ∂“π∑’Ëµ—Èß¢Õß

Àπà«¬ß“π„À¡à ‡æ◊ËÕ ¿“æ·«¥≈âÕ¡„π°“√∑”ß“π

∑’Ë¥’¢÷Èπ

7. Relationship Building Activities in

FY 2010 PDMO arranged various activities to build

relationship between the management level and

operational level staffs in PDMO in order to improve

the organisationûs effectiveness and efficiency.

8. Environmental and Cleanliness

Management in FY 2010, PDMO has renovated

the office space to support the increasing number of

staffs. The cleanliness champagne is also launched

for better office environment.

61


ß∫°“√‡ß‘π¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–ß∫· ¥ß∞“π–°“√‡ß‘π≥ «—π∑’Ë 30 °—π¬“¬π 2553 ·≈– 2552

(Àπà«¬: ∫“∑)

À¡“¬‡Àµÿ 2553 2552

‘π∑√—æ¬å

‘π∑√—æ¬åÀ¡ÿπ‡«’¬π

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ 3 13,043,801,057 83,812,876,702

≈Ÿ°Àπ’È√–¬– —Èπ 2,541,398 2,354,320

√“¬‰¥â§â“ß√—∫ 4 85,155,165 1,317,866,726

«— ¥ÿ§ß‡À≈◊Õ - 1,148,340

¥Õ°‡∫’È¬®à“¬≈à«ßÀπâ“ 5 400,546,822 (251,773,746)

√«¡ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π 13,532,044,442 84,882,472,342

‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π

≈Ÿ°Àπ’È√–¬–¬“« 6 14,036,984,662 18,618,540,442

‡ß‘π≈ß∑ÿπ„πµ√“ “√Àπ’È 7 2,998,000,000 8,189,000,000

‡ß‘π≈ß∑ÿπ∑—Ë«‰ª 72,206,266 -

Õÿª°√≥å ( ÿ∑∏‘) 8 64,216,094 79,092,592

√«¡ ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π 17,171,407,022 26,886,633,034

√«¡ ‘π∑√—æ¬å 30,703,451,464 111,769,105,376

63 ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–ß∫· ¥ß∞“π–°“√‡ß‘π (µàÕ)≥ «—π∑’Ë 30 °—π¬“¬π 2553 ·≈– 2552

(Àπà«¬: ∫“∑)

À¡“¬‡Àµÿ 2553 2552

Àπ’È ‘π

Àπ’È ‘πÀ¡ÿπ‡«’¬π

‡®â“Àπ’È√–¬– —Èπ 873,929 3,431,261

§à“„™â®à“¬§â“ß®à“¬ 642,489 (1,766,758)

‡ß‘π√—∫Ω“°√–¬– —Èπ 5,820,745,774 6,182,288,588

¥Õ°‡∫’È¬§â“ß®à“¬ 9 26,759,929,574 24,038,015,168

¥Õ°‡∫’È¬®à“¬√—∫≈à«ßÀπâ“ 9,936,989,602 7,561,837,927

‡ß‘π°Ÿâ√–¬– —Èπ 10 158,422,363,000 282,371,528,560

Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ 11 8,568,736 2,545,296

√«¡Àπ’È ‘πÀ¡ÿπ‡«’¬π 200,950,113,104 320,157,880,042

Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π

‡ß‘π∑¥√Õß√“™°“√√—∫®“°§≈—ß-√–¬–¬“« 1,000,000 1,000,000

‡ß‘πª√–°—π 1,282,276 1,406,714

‡ß‘π°Ÿâ√–¬–¬“« 12 2,783,832,033,914 2,322,690,979,569

√«¡Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π 2,783,834,316,190 2,322,693,386,283

√«¡Àπ’È ‘π 2,984,784,429,294 2,642,851,266,325

‘π∑√—æ¬å ÿ∑∏‘ (2,954,080,977,830) (2,531,082,160,949)

‘π∑√—æ¬å ÿ∑∏‘

∑ÿπ (1,745,948,795,387) (1,745,948,795,387)

√“¬‰¥â Ÿß/(µË”) °«à“§à“„™â®à“¬ – ¡ (1,208,132,182,443) (785,133,365,562)

√«¡ ‘π∑√—æ¬å ÿ∑∏‘ (2,954,080,977,830) (2,531,082,160,949)

√«¡Àπ’È ‘π·≈– ‘π∑√—æ¬å ÿ∑∏‘ 30,703,451,464 111,769,105,376

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷Ëß¢Õßß∫°“√‡ß‘π

À¡“¬‡Àµÿ : µ—«‡≈¢‡∫◊ÈÕßµâπ∑’Ë¬—ß‰¡à‰¥â√—∫√Õß®“° ”π—°ß“πµ√«®‡ß‘π·ºàπ¥‘π

62

”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–ß∫√“¬‰¥â·≈–§à“„™â®à“¬ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 30 °—π¬“¬π 2553 ·≈– 2552

(Àπà«¬: ∫“∑)

À¡“¬‡Àµÿ 2553 2552

√“¬‰¥â®“°°“√¥”‡π‘πß“π

√“¬‰¥â√—∫®“°√—∞∫“≈

√“¬‰¥â®“°ß∫ª√–¡“≥ª√–®”·≈–ß∫°≈“ß 15 254,265,196,856 181,942,820,282

√«¡√“¬‰¥â®“°√—∞∫“≈ 254,265,196,856 181,942,820,282

√“¬‰¥â®“°·À≈àßÕ◊Ëπ

√“¬‰¥â®“°°“√„Àâ∫√‘°“√ 296,600 8,800

√“¬‰¥â√–À«à“ßÀπà«¬ß“π 16 6,899,172,671 7,810,487,492

√“¬‰¥âÕ◊Ëπ 17 692,541,895,154 649,829,606,894

√«¡√“¬‰¥â®“°·À≈àßÕ◊Ëπ 699,441,364,425 657,640,103,186

√«¡√“¬‰¥â®“°°“√¥”‡π‘πß“π 953,706,561,281 839,582,923,468

§à“„™â®à“¬®“°°“√¥”‡π‘πß“π

§à“„™â®à“¬∫ÿ§≈“°√ 18 51,626,967 49,420,984

§à“∫”‡ÀπÁ®∫”π“≠ 19 1,076,360 924,384

§à“„™â®à“¬„π°“√Ωñ°Õ∫√¡ 20 7,412,265 7,795,403

§à“„™â®à“¬„π°“√‡¥‘π∑“ß 21 3,715,545 2,804,349

§à“«— ¥ÿ ·≈–§à“„™â Õ¬ 22 44,598,484 33,473,117

§à“ “∏“√≥Ÿª‚¿§ 23 4,489,702 2,710,995

§à“‡ ◊ËÕ¡√“§“ 24 19,095,856 12,615,136

§à“„™â®à“¬‡ß‘πÕÿ¥Àπÿπ 25 45,100,440 54,001,800

§à“„™â®à“¬Õ◊Ëπ 26 1,168,829,903,252 1,176,680,336,611

√«¡§à“„™â®à“¬®“°°“√¥”‡π‘πß“π 1,169,007,018,871 1,176,844,082,779

√“¬‰¥â Ÿß/(µË”) °«à“§à“„™â®à“¬®“°°“√¥”‡π‘πß“π (215,300,457,590) (337,261,159,311)

65 ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–ß∫√“¬‰¥â·≈–§à“„™â®à“¬ (µàÕ) ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 30 °—π¬“¬π 2553 ·≈– 2552

(Àπà«¬: ∫“∑)

À¡“¬‡Àµÿ 2553 2552

√“¬‰¥â/§à“„™â®à“¬ ∑’Ë ‰¡à‡°‘¥®“°°“√¥”‡π‘πß“π

√“¬°“√Õ◊ËπÊ ∑’Ë‰¡à‡°’Ë¬«°—∫°“√¥”‡π‘πß“π 27 (123,419,231,121) (118,162,134,117)

√«¡√“¬‰¥â/§à“„™â®à“¬ ∑’Ë‰¡à‡°‘¥®“°°“√¥”‡π‘πß“π (123,419,231,121) (118,162,134,117)

√“¬‰¥â Ÿß/(µË”) °«à“§à“„™â®à“¬®“°°‘®°√√¡ª°µ‘ (338,719,688,711) (455,423,293,428)

√“¬‰¥â Ÿß/(µË”) °«à“§à“„™â®à“¬ ÿ∑∏‘ (338,719,688,711) (455,423,293,428)

√“¬‰¥â·ºàπ¥‘π∑’Ë®—¥‡°Á∫

√“¬‰¥â·ºàπ¥‘π-πÕ°®“°¿“…’

√“¬‰¥âÕ◊ËπÊ 28 5,139,282,694 4,715,784,178

√«¡√“¬‰¥â·ºàπ¥‘π-πÕ°®“°¿“…’ 5,139,282,694 4,715,784,178

√«¡√“¬‰¥â·ºàπ¥‘π∑’Ë®—¥‡°Á∫ 5,139,282,694 4,715,784,178

√“¬‰¥â·ºàπ¥‘ππ” àß§≈—ß 6,260,463,965 4,198,754,064

√“¬‰¥â Ÿß/(µË”) °«à“§à“„™â®à“¬ ÿ∑∏‘ (339,840,869,982) (454,906,263,314)

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷Ëß¢Õßß∫°“√‡ß‘π

À¡“¬‡Àµÿ : µ—«‡≈¢‡∫◊ÈÕßµâπ∑’Ë¬—ß‰¡à‰¥â√—∫√Õß®“° ”π—°ß“πµ√«®‡ß‘π·ºàπ¥‘π

64

”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 30 °—π¬“¬π 2553 ·≈– 2552

À¡“¬‡Àµÿ∑’Ë 1 - ¢âÕ¡Ÿ≈∑—Ë«‰ª1.1 §«“¡‡ªìπ¡“

”π—°ß“π∫√‘À“√Àπ’È “∏“√≥– ( ∫π.) ‡ªìπ à«π√“™°“√„π√–¥—∫°√¡ —ß°—¥°√–∑√«ß°“√§≈—ß

®—¥µ—Èß¢÷Èπ‡¡◊ËÕ«—π∑’Ë 9 µÿ≈“§¡ 2545 µ“¡æ√–√“™∫—≠≠—µ‘ª√—∫ª√ÿß°√–∑√«ß ∑∫«ß °√¡ æ.». 2545

∫π. ‡ªìπÕß§å°√∑’Ë¡’¿“√°‘®‡ πÕ·π–π‚¬∫“¬ √«¡∑—Èß¥”‡π‘π°“√°àÕÀπ’È·≈–∫√‘À“√Àπ’È “∏“√≥– ‚¥¬

§”π÷ß∂÷ßª√–‚¬™πå Ÿß ÿ¥¢Õßª√–‡∑» ‚¥¬¡’∫∑∫“∑¥â“πß“π∫√‘À“√®—¥°“√Àπ’È “∏“√≥–„π∞“π–Àπà«¬ß“π (Agency)

÷Ëß¥”‡π‘π°“√µ“¡¿“√°‘®‡™àπ‡¥’¬«°—∫ à«π√“™°“√Õ◊Ëπ ·≈–ß“π∫√‘À“√Àπ’È “∏“√≥–„π∞“π–Àπà«¬ß“π°≈“ß (Core

Agency) ´÷Ëßª√–°Õ∫‰ª¥â«¬ °“√°àÕÀπ’È∑’Ë°√–∑√«ß°“√§≈—ß‰¥âºŸ°æ—π„π∞“π–ºŸâ°Ÿâ„ππ“¡√—∞∫“≈¢Õß√“™Õ“≥“®—°√

‰∑¬ ∑—ÈßÀπ’È„πª√–‡∑»·≈–µà“ßª√–‡∑» °“√∫√‘À“√®—¥°“√Àπ’È§ß§â“ß √«¡∂÷ß°“√∫√‘À“√°“√™”√–Àπ’È

„πªï 2548 ¡’°“√ª√–°“»„™â çæ√–√“™∫—≠≠—µ‘°“√∫√‘À“√Àπ’È “∏“√≥– æ.». 2548é „π√“™°‘®®“

πÿ‡∫°…“ ‡¡◊ËÕ«—π∑’Ë 2 °ÿ¡¿“æ—π∏å 2548 ·≈–¡’º≈„™â∫—ß§—∫µ—Èß·µà«—π∂—¥®“°«—πª√–°“»„π√“™°‘®®“πÿ‡∫°…“‡ªìπµâπ‰ª

‡Àµÿº≈„π°“√ª√–°“»„™âæ√–√“™∫—≠≠—µ‘©∫—∫π’È ‡æ◊ËÕ„Àâ°“√∫√‘À“√Àπ’È “∏“√≥–¡’ª√– ‘∑∏‘¿“æ ´÷Ëß‡¥‘¡

‰¥â∫—≠≠—µ‘‰«â„π°ÆÀ¡“¬À≈“¬©∫—∫·≈– ¡§«√„Àâ¡’Àπà«¬ß“π°≈“ß ‡ªìπÀπà«¬ß“π‡¥’¬« ∑”Àπâ“∑’Ë√—∫º‘¥™Õ∫

„π°“√∫√‘À“√Àπ’È “∏“√≥–Õ¬à“ß¡’√–∫∫·≈–¡’ª√– ‘∑∏‘¿“æ ∑—Èß¬—ß§«∫§ÿ¡¥Ÿ·≈°“√°àÕÀπ’È‚¥¬√«¡ ‡æ◊ËÕ„Àâ¿“√–

Àπ’È “∏“√≥–Õ¬Ÿà„π√–¥—∫∑’Ë Õ¥§≈âÕß°—∫∞“π–°“√‡ß‘π°“√§≈—ß¢Õßª√–‡∑» ´÷Ëß°”Àπ¥„Àâ°√–∑√«ß°“√§≈—ß

‡ªìπºŸâ¡’Õ”π“®„π°“√°Ÿâ‡ß‘πÀ√◊Õ§È”ª√–°—π„ππ“¡√—∞∫“≈·µà‡æ’¬ßºŸâ‡¥’¬«‚¥¬Õπÿ¡—µ‘§≥–√—∞¡πµ√’ πÕ°®“°π—Èπ

¬—ß°”Àπ¥„Àâ¡’§≥–°√√¡°“√π‚¬∫“¬·≈–°”°—∫°“√∫√‘À“√Àπ’È “∏“√≥– ´÷Ëß¡’Õ”π“®Àπâ“∑’Ë√“¬ß“π ∂“π–Àπ’È

“∏“√≥– ‡ πÕ·ºπ°“√∫√‘À“√Àπ’È “∏“√≥– ®—¥∑”À≈—°‡°≥±å„π°“√∫√‘À“√Àπ’È ·π–π”°“√ÕÕ°°Æ°√–∑√«ß

·≈–ªØ‘∫—µ‘°“√Õ◊Ëπ

∫π. ¡’Àπâ“∑’Ë√—∫º‘¥™Õ∫‡°’Ë¬«°—∫°‘®°“√∑—Ë«‰ª¢Õß§≥–°√√¡°“√ ·≈–¡’Õ”π“®Àπâ“∑’Ë„π°“√»÷°…“

«‘‡§√“–Àå‚§√ß √â“ßÀπ’È “∏“√≥– µ≈Õ¥®πÀπ’È√—∞«‘ “À°‘®∑’Ë∑”∏ÿ√°‘®„Àâ°Ÿâ¬◊¡‡ß‘π·≈– ∂“∫—π°“√‡ß‘π¿“§√—∞

∑’Ë°√–∑√«ß°“√§≈—ß‰¡à‰¥â§È”ª√–°—π √«¡∑—Èß √«∫√«¡¢âÕ¡Ÿ≈ª√–¡“≥°“√§«“¡µâÕß°“√‡ß‘π¿“§√—∞·≈–°“√∫√‘À“√

Àπ’È “∏“√≥–‡æ◊ËÕ‡ πÕµàÕ§≥–°√√¡°“√ ¥”‡π‘π°“√‡°’Ë¬«°—∫°“√∫√‘À“√Àπ’È “∏“√≥– „Àâ§”ª√÷°…“·π–π”

·≈– àß‡ √‘¡„Àâ√—∞«‘ “À°‘® Õß§å°√ª°§√Õß à«π∑âÕß∂‘Ëπ ·≈–Àπà«¬ß“π¢Õß√—∞¡’§«“¡ “¡“√∂µ‘¥µ“¡°“√ªØ‘∫—µ‘

µ“¡ —≠≠“·≈–ª√–‡¡‘πº≈°“√„™â®à“¬‡ß‘π°Ÿâ √«¡∑—ÈßªØ‘∫—µ‘ß“π∏ÿ√°“√¢Õß§≥–°√√¡°“√ ·≈–ªØ‘∫—µ‘°“√Õ◊Ëπ

6766

1.2 °“√π”‡ πÕ√“¬ß“π

°“√®—¥∑”√“¬ß“π°“√‡ß‘ππ’È‡ªìπ‰ªµ“¡Àπ—ß ◊Õ°√¡∫—≠™’°≈“ß ∑’Ë °§ 0410.2/« 497 ≈ß«—π∑’Ë

16 ∏—π«“§¡ 2548 ‡√◊ËÕß √Ÿª·∫∫√“¬ß“π°“√‡ß‘π¡“µ√∞“π ”À√—∫Àπà«¬ß“π¿“§√—∞ ·≈–µ“¡Àπ—ß ◊Õ

”π—°‡≈¢“∏‘°“√§≥–√—∞¡πµ√’ ¥à«π∑’Ë ÿ¥ ∑’Ë π√ 0506/«166 ≈ß«—π∑’Ë 15 æƒ»®‘°“¬π 2550 ‡√◊ËÕß °“√®—¥∑”√“¬ß“π

°“√‡ß‘π·ºàπ¥‘π

√Õ∫√–¬–‡«≈“∫—≠™’ „™âªïß∫ª√–¡“≥‡ªìπ‡°≥±å §◊Õ‡√‘Ë¡µ—Èß·µà«—π∑’Ë 1 µÿ≈“§¡ ¢ÕßªïÀπ÷Ëß ∂÷ß«—π∑’Ë

30 °—π¬“¬π ¢Õßªï∂—¥‰ª

À¡“¬‡Àµÿ∑’Ë 2 - √ÿªπ‚¬∫“¬°“√∫—≠™’∑’Ë ”§—≠2.1 À≈—°°“√∫—≠™’ ß∫°“√‡ß‘ππ’È®—¥∑”¢÷Èπµ“¡‡°≥±å§ß§â“ß (Accrual basis) ‚¥¬‡ªìπ‰ªµ“¡¢âÕ°”Àπ¥

„πÀ≈—°°“√·≈–π‚¬∫“¬∫—≠™’ ”À√—∫Àπà«¬ß“π¿“§√—∞ ©∫—∫∑’Ë 2 µ“¡ª√–°“»°√–∑√«ß°“√§≈—ß ‡¡◊ËÕ«—π∑’Ë

11 °—π¬“¬π 2546

2.2 ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ‡™àπ ‡™Á§ µ—Î«·≈°‡ß‘π ¥ ‚¥¬√—∫√Ÿâµ“¡¡Ÿ≈§à“∑’Ëµ√“‰«â

‡ß‘π∑¥√Õß√“™°“√∫—π∑÷° √—∫√Ÿâ‡¡◊ËÕ‰¥â√—∫‡ß‘π§«∫§Ÿà‰ª°—∫°“√∫—π∑÷°‡ß‘π∑¥√Õß√“™°“√√—∫‡ß‘π®“°§≈—ß√–¬–¬“«

2.3 ≈Ÿ°Àπ’È‡ß‘π¬◊¡ ∫—π∑÷°√—∫√Ÿâµ“¡®”π«π‡ß‘π„π —≠≠“¬◊¡ ‰¡à«à“®–®à“¬®“°‡ß‘πß∫ª√–¡“≥À√◊Õ

‡ß‘ππÕ°ß∫ª√–¡“≥

2.4 ≈Ÿ°Àπ’È√–¬–¬“« ‡ªìπ‡ß‘π„Àâ¬◊¡·°à√—∞«‘ “À°‘® ‚¥¬∫—π∑÷°√—∫√Ÿâµ“¡®”π«π‡ß‘π„π —≠≠“°Ÿâ‡ß‘π

2.5 «— ¥ÿ§ß§≈—ß · ¥ß„π√“§“∑ÿπ ‚¥¬µ’√“§“«— ¥ÿ§ß‡À≈◊Õµ“¡«‘∏’‡¢â“°àÕπÕÕ°°àÕπ

2.6 ¥Õ°‡∫’È¬®à“¬√Õµ—¥∫—≠™’ ‡ªìπ à«π≈¥∑’Ë„Àâ·°àºŸâª√–¡Ÿ≈µ—Î«‡ß‘π§≈—ß·≈–∫—π∑÷°‡ªìπ¥Õ°‡∫’È¬®à“¬

µ“¡ß«¥‡«≈“

2.7 Õÿª°√≥å ( ÿ∑∏‘) ‡ªìπ ‘π∑√—æ¬å∑’Ë¡’¡Ÿ≈§à“µàÕÀπà«¬ µàÕ™ÿ¥À√◊ÕµàÕ°≈ÿà¡ µ—Èß·µà 30,000 ∫“∑ ¢÷Èπ‰ª

‡©æ“–∑’Ë´◊ÈÕÀ√◊Õ‰¥â¡“µ—Èß·µàªïß∫ª√–¡“≥ 2540 - 2545 ”À√—∫√“¬°“√∑’Ë®—¥´◊ÈÕÀ√◊Õ‰¥â¡“„πªïß∫ª√–¡“≥ 2546

‡ªìπµâπ‰ª ®–√—∫‡©æ“–∑’Ë¡’¡Ÿ≈§à“µ—Èß·µà 5,000 ∫“∑¢÷Èπ‰ª ‚¥¬· ¥ß„π√“§“∑ÿπÀ—°¥â«¬§à“‡ ◊ËÕ¡√“§“ – ¡

2.8 √“¬‰¥â®“°‡ß‘πß∫ª√–¡“≥§â“ß√—∫ ∫—π∑÷°‡ªìπ√“¬‰¥â®“°‡ß‘πß∫ª√–¡“≥§â“ß√—∫ ≥ «—π∑’Ë®—¥∑”

√“¬ß“πÀ√◊Õ ≥ ‘Èπªïß∫ª√–¡“≥ µ“¡®”π«π‡ß‘πß∫ª√–¡“≥∑’Ë¬—ß‰¡à‰¥â√—∫µ“¡Æ’°“‡À≈◊ËÕ¡®à“¬

2.9 √“¬‰¥â§â“ß√—∫ ∫—π∑÷°µ“¡®”π«π‡ß‘π∑’Ë¬—ß‰¡à‰¥â√—∫®π∂÷ß ‘Èπªïß∫ª√–¡“≥

2.10 ‡®â“Àπ’È ∫—π∑÷°√—∫√Ÿâ‡®â“Àπ’È®“°°“√´◊ÈÕ ‘π§â“À√◊Õ∫√‘°“√ ‡¡◊ËÕÀπà«¬ß“π‰¥âµ√«®√—∫ ‘π§â“À√◊Õ∫√‘°“√

®“°ºŸâ¢“¬·≈â«·µà¬—ß‰¡à‰¥â™”√–‡ß‘π ·≈– “¡“√∂√–∫ÿ¡Ÿ≈§à“ ‘π§â“À√◊Õ∫√‘°“√‰¥â™—¥‡®π

2.11 §à“„™â®à“¬§â“ß®à“¬ ‡°‘¥¢÷Èπ®“°¢âÕ°”Àπ¥¢Õß°ÆÀ¡“¬ ¢âÕµ°≈ß„π —≠≠“ À√◊Õ®“°∫√‘°“√∑’Ë‰¥â√—∫

‡™àπ ‡ß‘π‡¥◊Õπ À√◊Õ§à“®â“ß§â“ß®à“¬ §à“„™â®à“¬¥”‡π‘πß“π§â“ß®à“¬·≈–¥Õ°‡∫’È¬§â“ß®à“¬ ‡ªìπµâπ ‚¥¬°“√

ª√–¡“≥§à“µ“¡√–¬–‡«≈“∑’Ë‡°‘¥§à“„™â®à“¬π—ÈπÊ ”À√—∫„∫ ”§—≠§â“ß®à“¬®–√—∫√Ÿâ‡¡◊ËÕ‰¥â√—∫„∫¢Õ‡∫‘°‡ß‘π®“°

¢â“√“™°“√ æπ—°ß“π√“™°“√ À√◊Õ≈Ÿ°®â“ß √«¡∂÷ß°“√√—∫„∫ ”§—≠∑’Ë∑¥√Õß®à“¬®“°‡ß‘π∑¥√Õß√“™°“√

2.12 √“¬‰¥â√—∫≈à«ßÀπâ“ ∫—π∑÷°√—∫√Ÿâ√“¬‰¥â√—∫≈à«ßÀπâ“‡¡◊ËÕ‰¥â√—∫‡ß‘πµ“¡®”π«π°“√„™â®à“¬‡ß‘π √«¡∂÷ß

°“√√—∫‡ß‘π π—∫ πÿπ

2.13 ‡ß‘π°Ÿâ√–¬– —Èπ ‡ªìπ‡ß‘π°Ÿâ∑’Ë°√–∑√«ß°“√§≈—ß°Ÿâ„ππ“¡√—∞∫“≈·Ààß√“™Õ“≥“®—°√‰∑¬ ´÷Ëß‡ªìπ¢Õß

à«πß“πÀπ’È “∏“√≥– ª√–°Õ∫¥â«¬

1) ‡ß‘π°Ÿâ„πª√–‡∑» ‰¥â·°à ‡ß‘π°Ÿâ®“°°“√ÕÕ°µ—Î«‡ß‘π§≈—ß·≈– à«π∑’Ë®–§√∫°”Àπ¥™”√–¿“¬„πÀπ÷Ëßªï

¢Õßµ—Î« —≠≠“„™â‡ß‘π·≈–æ—π∏∫—µ√√—∞∫“≈

2) ‡ß‘π°Ÿâµà“ßª√–‡∑» ‰¥â·°à µ—Î« Euro Commercial Paper (ECP) ·≈– à«π∑’Ë®–§√∫°”Àπ¥™”√–

¿“¬„πÀπ÷Ëßªï¢Õß Samurai Bond ·≈–‡ß‘π°Ÿâµ“¡ —≠≠“°Ÿâ‡ß‘π∑’Ë‡ªìπ °ÿ≈‡ß‘πµ√“µà“ßª√–‡∑»

2.14 ‡ß‘π°Ÿâ√–¬–¬“« ‡ªìπ‡ß‘π°Ÿâ∑’Ë°√–∑√«ß°“√§≈—ß°Ÿâ„ππ“¡√—∞∫“≈·Ààß√“™Õ“≥“®—°√‰∑¬ ´÷Ëß‡ªìπ¢Õß

à«πß“πÀπ’È “∏“√≥– ª√–°Õ∫¥â«¬

1) ‡ß‘π°Ÿâ„πª√–‡∑» ‰¥â·°à ‡ß‘π°Ÿâ®“°°“√ÕÕ°µ—Î« —≠≠“„™â‡ß‘π ·≈–æ—π∏∫—µ√√—∞∫“≈ √—∫√Ÿâ

µ“¡®”π«π‡ß‘π∑’Ëµ√“‰«â à«π‡°‘π¡Ÿ≈§à“æ—π∏∫—µ√·≈– à«πµË”°«à“¡Ÿ≈§à“æ—π∏∫—µ√‰¥â¡’°“√µ°≈ß°—∫°√¡∫—≠™’°≈“ß

‚¥¬∑¬Õ¬√—∫√Ÿâ‡ªìπ¥Õ°‡∫’È¬®à“¬µ“¡Õ“¬ÿæ—π∏∫—µ√‚¥¬«‘∏’‡ âπµ√ß

2) ‡ß‘π°Ÿâµà“ßª√–‡∑» ‰¥â·°à ‡ß‘π°Ÿâ∑’Ë®“°°“√ÕÕ° Samurai Bond ·≈–‡ß‘π°Ÿâµ“¡ —≠≠“°Ÿâ‡ß‘π∑’Ë‡ªìπ

°ÿ≈‡ß‘πµ√“µà“ßª√–‡∑»

2.15 Àπ’È “∏“√≥– À¡“¬∂÷ß Àπ’È∑’Ë°√–∑√«ß°“√§≈—ß Àπà«¬ß“π¢Õß√—∞ À√◊Õ√—∞«‘ “À°‘®°Ÿâ À√◊ÕÀπ’È∑’Ë

°√–∑√«ß°“√§≈—ß§È”ª√–°—π ·µà‰¡à√«¡∂÷ßÀπ’È¢Õß√—∞«‘ “À°‘®∑’Ë∑”∏ÿ√°‘®„Àâ°Ÿâ¬◊¡‡ß‘π ‚¥¬°√–∑√«ß°“√§≈—ß¡‘‰¥â§È”

ª√–°—π

69

2.16 °“√·ª≈ß§à“‡ß‘πµ√“µà“ßª√–‡∑» ‰¥â∫—π∑÷° ‘π∑√—æ¬å·≈–Àπ’È ‘π∑’Ë‡ªìπ‡ß‘πµ√“µà“ßª√–‡∑»µ“¡

«—π∑’Ë‡°‘¥√“¬°“√¥â«¬ °ÿ≈‡ß‘πµ√“µà“ßª√–‡∑»π—ÈπÊ ·≈–·ª≈ß§à“‡ªìπ‡ß‘π∫“∑‚¥¬„™âÕ—µ√“·≈°‡ª≈’Ë¬π ≥ «—π∑’Ë

‡°‘¥√“¬°“√ ‚¥¬ ‘π∑√—æ¬å·≈–Àπ’È ‘π§ß‡À≈◊Õ ≥ «—π®—¥∑”√“¬ß“π À√◊Õ ≥ «—π ‘Èπªïß∫ª√–¡“≥ ‰¥â·ª≈ß

§à“‡ß‘πµ√“µà“ßª√–‡∑»¢Õß∑√—æ¬å ‘π·≈–Àπ’È ‘π§ß‡À≈◊Õ ‚¥¬„™âÕ—µ√“´◊ÈÕ ”À√—∫ ‘π∑√—æ¬å ·≈–Õ—µ√“¢“¬ ”À√—∫

Àπ’È ‘π µ“¡ª√–°“»Õ—µ√“·≈°‡ª≈’Ë¬πÕâ“ßÕ‘ß¢Õß∏π“§“√·Ààßª√–‡∑»‰∑¬ °”‰√À√◊Õ¢“¥∑ÿπ∑’Ë‡°‘¥®“°°“√·ª≈ß

§à“¥—ß°≈à“«√—∫√Ÿâ‡ªìπ√“¬‰¥âÀ√◊Õ§à“„™â®à“¬®“°Õ—µ√“·≈°‡ª≈’Ë¬π

2.17 ∑ÿπ ∫—π∑÷°√—∫√Ÿâ‡¡◊ËÕ‡√‘Ë¡ªØ‘∫—µ‘µ“¡√–∫∫∫—≠™’‡°≥±å§ß§â“ß´÷Ëß‡°‘¥®“°º≈µà“ß√–À«à“ß ‘π∑√—æ¬å

·≈–Àπ’È ‘π

2.18 √“¬‰¥â·ºàπ¥‘π √—∫√Ÿâ‡¡◊ËÕ‡°‘¥√“¬‰¥â

2.19 §à“„™â®à“¬∫ÿ§≈“°√ §à“„™â®à“¬„π°“√¥”‡π‘πß“π·≈–§à“„™â®à“¬ß∫°≈“ß √—∫√Ÿâ‡¡◊ËÕ‡°‘¥§à“„™â®à“¬

2.20 §à“‡ ◊ËÕ¡√“§“ ‘π∑√—æ¬å §”π«≥‚¥¬«‘∏’‡ âπµ√ß‰¡à¡’√“§“´“° (√“§“´“° = 0) ‘π∑√—æ¬å∑’ËÀ¡¥Õ“¬ÿ

°“√„™âß“π·≈â«„Àâ§ß¡Ÿ≈§à“‰«â„π∫—≠™’ 1 ∫“∑ ®π°«à“®–¡’°“√®”Àπà“¬ ‘π∑√—æ¬åÕÕ°®“°√–∫∫∫—≠™’ °“√µ’√“§“

‘π∑√—æ¬å·≈–§‘¥§à“‡ ◊ËÕ¡√“§“‰¥â°”Àπ¥ª√–‡¿∑ ‘π∑√—æ¬å·≈–Õ“¬ÿ°“√„™âß“π¢Õß ‘π∑√—æ¬åµà“ßÊ ¥—ßπ’È

ª√–‡¿∑ ‘π∑√—æ¬å Õ“¬ÿ°“√„™âß“π (ªï)

§√ÿ¿—≥±å ”π—°ß“π 10

§√ÿ¿—≥±å¬“πæ“Àπ–·≈–¢π àß 5

§√ÿ¿—≥±å§Õ¡æ‘«‡µÕ√å·≈–‡§√◊ËÕß„™â‰øøÑ“ 5

68

À¡“¬‡Àµÿ∑’Ë 3 - ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥(Àπà«¬ : ∫“∑)

2553 2552

‡ß‘πΩ“°∏π“§“√ 270,000.00 -

‡ß‘π∑¥√Õß√“™°“√ 1,000,000.00 1,000,000.00

‡ß‘πΩ“°§≈—ß 9,706,212,739.55 6,369,689,451.59

‡ß‘πΩ“°∏π“§“√·Ààßª√–‡∑»‰∑¬ - FIDF1 82,795,136,014.35 73,783,027,905.89

‡ß‘πΩ“°∏π“§“√·Ààßª√–‡∑»‰∑¬ - FIDF3 (8,822,227,590.17) 189,879,472.68

‡ß‘πΩ“°∏π“§“√·Ààßª√–‡∑»‰∑¬√Õ‰∂à∂Õπæ—π∏∫—µ√ - -

‡ß‘πΩ“°∏π“§“√·Ààßª√–‡∑»‰∑¬‡æ◊ËÕ°“√∫√‘À“√Àπ’È 3,469,279,872.33 3,469,279,872.33

√«¡ 87,149,671,036.06 83,812,876,702.49

À¡“¬‡Àµÿ∑’Ë 4 - √“¬‰¥â§â“ß√—∫(Àπà«¬ : ∫“∑)

2553 2552

√“¬‰¥â§â“ß√—∫®“°Àπà«¬ß“π¿“§√—∞ 5,155,632.74 1,055,180,149.26

√“¬‰¥â§â“ß√—∫®“°Àπà«¬ß“π¿“¬πÕ° 79,753,287.67 261,844,383.56

√“¬‰¥â§â“ß√—∫®“°°√¡∫—≠™’ 246,244.28 842,193.30

√«¡ 85,155,164.69 1,317,866,726.12

À¡“¬‡Àµÿ∑’Ë 5 - ¥Õ°‡∫’È¬®à“¬≈à«ßÀπâ“ ( à«πß“π∫√‘À“√Àπ’È “∏“√≥–)(Àπà«¬ : ∫“∑)

2553 2552

¥Õ°‡∫’È¬®à“¬≈à«ßÀπâ“µ—Î«‡ß‘π§≈—ß 400,546,822.48 (251,773,746.18)

√«¡ 400,546,822.48 (251,773,746.18)

7170

À¡“¬‡Àµÿ∑’Ë 6 - ‡ß‘π„Àâ°Ÿâ√–¬–¬“«·°à√—∞«‘ “À°‘® ( à«πß“π∫√‘À“√Àπ’È “∏“√≥–)(Àπà«¬ : ∫“∑)

2553 2552

‡ß‘π„Àâ°Ÿâ√–¬–¬“«·°à√—∞«‘ “À°‘® 14,036,984,661.95 18,832,073,271.66

ª√—∫¡Ÿ≈§à“‡ß‘π„Àâ°Ÿâ - (213,532,830.00)

√«¡ 14,036,984,661.95 18,618,540,441.66

À¡“¬‡Àµÿ∑’Ë 7 - ‡ß‘π≈ß∑ÿπ√–¬–¬“«(Àπà«¬ : ∫“∑)

2553 2552

‡ß‘π≈ß∑ÿπ„πµ√“ “√Àπ’È 2,998,000,000.00 8,189,000,000.00

√«¡ 2,998,000,000.00 8,189,000,000.00

À¡“¬‡Àµÿ∑’Ë 8 - Õÿª°√≥å ( ÿ∑∏‘)(Àπà«¬ : ∫“∑)

√“§“∑ÿπ §à“‡ ◊ËÕ¡√“§“ – ¡ √“§“µ“¡∫—≠™’

‘Ëßª≈Ÿ° √â“ß 3,875,000.00 (275,319.63) 3,599,680.37

§√ÿ¿—≥±å ”π—°ß“π 6,871,560.42 (2,148,808.02) 4,722,752.40

§√ÿ¿—≥±å¬“πæ“Àπ– 4,417,000.00 (3,988,287.42) 428,712.58

§√ÿ¿—≥±å‰øøÑ“·≈–«‘∑¬ÿ 2,048,724.87 (1,281,161.69) 767,563.18

§√ÿ¿—≥±å‚¶…≥“ 1,172,778.21 (748,215.44) 424,562.77

§√ÿ¿—≥±å°àÕ √â“ß 198,485.00 (870.07) 197,614.93

§√ÿ¿—≥±å§Õ¡æ‘«‡µÕ√å 60,236,096.87 (25,475,598.79) 34,760,498.08

§√ÿ¿—≥±å∫â“π§√—« 14,200.02 (13,663.14) 536.88

§√ÿ¿—≥±å‰¡à√–∫ÿª√–‡¿∑ 6,727,334.55 (6,636,128.67) 91,205.88

‚ª√·°√¡§Õ¡æ‘«‡µÕ√å 30,188,950.00 (10,965,983.23) 19,222,966.77

√«¡ 115,750,129.94 (51,534,036.10) 64,216,093.84

À¡“¬‡Àµÿ∑’Ë 9 ¥Õ°‡∫’È¬§â“ß®à“¬ - ‡ß‘π°Ÿâ ( à«πß“π∫√‘À“√Àπ’È “∏“√≥–)(Àπà«¬ : ∫“∑)

2553 2552

¥Õ°‡∫’È¬§â“ß®à“¬ 23,021,147,112.38 20,409,162,185.82

¥Õ°‡∫’È¬®à“¬√Õµ—¥∫—≠™’ 3,738,782,461.15 3,628,852,981.76

√«¡ 26,759,929,573.53 24,038,015,167.58

À¡“¬‡Àµÿ∑’Ë 10 - ‡ß‘π°Ÿâ√–¬– —Èπ ( à«πß“π∫√‘À“√Àπ’È “∏“√≥–)(Àπà«¬ : ∫“∑)

2553 2552

µ—Î«‡ß‘π§ß§≈—ß 146,000,000,000.00 273,000,000,000.00

‡ß‘π°Ÿâ º/¥-∫“∑ —Èπ 12,422,363,000.00 4,644,597,970.00

µ—Î« Euro Commercial Paper - 4,726,930,590.00

√«¡ 158,422,363,000.00 282,371,528,560.00

À¡“¬‡Àµÿ∑’Ë 11 - Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ(Àπà«¬ : ∫“∑)

2553 2552

§â“ß®à“¬Õ◊Ëπ-¿“¬πÕ° 8,568,735.95 2,545,295.79

√«¡ 8,568,735.95 2,545,295.79

7372

À¡“¬‡Àµÿ∑’Ë 12 - ‡ß‘π°Ÿâ√–¬–¬“« ( à«πß“π∫√‘À“√Àπ’È “∏“√≥–)(Àπà«¬ : ∫“∑)

2553 2552

æ—π∏∫—µ√√—∞∫“≈ 2,442,635,170,000.00 2,099,457,440,000.00

µ—Î« —≠≠“„™â‡ß‘π-¬“« 81,156,540,000.00 118,025,520,000.00

à«π‡°‘π¡Ÿ≈§à“ 47,133,169,262.23 29,635,543,017.58

à«πµË”°«à“¡Ÿ≈§à“ (3,444,925,529.29) (2,195,600,362.59)

‡ß‘π°Ÿâ º/¥∫“∑-¬“« 163,063,365,506.54 20,070,364,559.04

‡ß‘π°Ÿâ º/¥µª∑-¬“« 46,418,080,317.66 48,243,177,591.70

ª√—∫‡ß‘π°Ÿâ µª∑.-¬“« 6,870,634,356.97 9,454,534,762.96

2,783,832,033,914.11 2,322,690,979,568.69

À¡“¬‡Àµÿ∑’Ë 13 - √“¬‰¥â®“°√—∞∫“≈(Àπà«¬ : ∫“∑)

2553 2552

TR-√—∫ß∫∫ÿ§≈“°√ 35,117,796.10 33,271,763.15

TR-√—∫ß∫≈ß∑ÿπ 3,273,073.72 52,134,076.47

TR-√—∫ß∫¥”‡π‘πß“π 15,508,586.99 19,611,939.07

TR-√—∫ß∫√“¬®à“¬Õ◊Ëπ 8,019,700,205.16 4,883,035,365.75

TR-√—∫ß∫°≈“ß 7,337,432.19 6,814,188.51

TR-√—∫‡ß‘π§ß§≈—ß 42,000,000,000.00 -

TR-√—∫‡ß‘π°Ÿâ 34,414,632,095.89 15,038,380.00

TR-√—∫ß∫√“¬®à“¬Õ◊Ëπ 169,769,887,773.37 176,933,956,094.55

T/E ‡∫‘°‡°‘π àß§◊π (260,107.08) (1,041,525.99)

254,265,196,856.34 181,942,820,281.51

À¡“¬‡Àµÿ∑’Ë 14 - √“¬‰¥â√–À«à“ßÀπà«¬ß“π(Àπà«¬ : ∫“∑)

2553 2552

√/¥ ™à«¬¥πß.-√—∞ 6,761,559,180.20 7,740,527,755.36

√/¥ ®“°°“√∫√‘®“§ 146,956.40 -

T/R-√—∫®“°Àπà«¬Õ◊Ëπ 137,466,534.14 69,959,736.77

6,899,172,670.74 7,810,487,492.13

À¡“¬‡Àµÿ∑’Ë 15 - √“¬‰¥âÕ◊Ëπ ( à«πß“π∫√‘À“√Àπ’È “∏“√≥–)(Àπà«¬ : ∫“∑)

2553 2552

√/¥ ‡ß‘ππÕ° ßª¡. - 13,409.83

√/¥ ¥∫. ‡ß‘πΩ“° 47,209,941.97 236,858,256.95

√“¬‰¥â‡ß‘πªíπº≈ 61,748,173.32 11,459,927.63

T/R-ª√—∫‡ß‘πΩ“°§≈—ß 221,684,328,221.19 22,093,653,573.64

TR πÕ° ßª¡. µ—Î«‡ß‘π§≈—ß 700,294,700,709.31 654,447,792,633.86

TR-‡ß‘π∑¥√Õß√“™°“√ (8,002,511,103.93) (4,866,726,031.05)

√“¬‰¥âÕ◊Ëπ 121,660,413.44 223,188.53

T/E-‚Õπ‡ß‘π„Àâ √°. (221,665,241,201.22) (22,093,668,064.98)

692,541,895,154.08 649,829,606,894.41

7574

À¡“¬‡Àµÿ∑’Ë 16 - §à“„™â®à“¬∫ÿ§≈“°√(Àπà«¬ : ∫“∑)

2553 2552

‡ß‘π‡¥◊Õπ 34,766,672.89 32,868,553.82

§à“≈à«ß‡«≈“ - 78,820.00

‡ß‘πµÕ∫·∑π‡µÁ¡¢—Èπ - 36,276.00

§à“®â“ß 8,670,278.50 8,797,906.12

§à“µÕ∫·∑π æπß. √“™°“√ 1,022,385.16 973,014.39

‡ß‘π√“ß«—≈ - 394,511.53

‡ß‘π™à«¬‡À≈◊Õ-µ“¬ - 34,050.00

‡ß‘π™¥‡™¬ ¡“™‘° °∫¢. 573,620.85 526,063.16

‡ß‘π ¡∑∫ °∫¢. 860,431.33 789,094.80

‡ß‘π ¡∑∫ ªª .-Rel 438,950.00 415,358.00

§à“µÕ∫·∑π√∂ª√–®” µπ. 837,953.33 713,480.01

‡ß‘π‡æ‘Ë¡ 3,480.00 3,520.00

‡ß‘π™à«¬°“√»÷°…“∫ÿµ√ 129,129.50 171,602.00

§à“√—°…“-πÕ°-√æ.√—∞ 3,468,522.50 3,098,305.50

§à“√—°…“-„π-√æ.√—∞ 812,524.42 453,590.20

§à“√—°…“-„π-‡Õ°™π 43,018.50 66,838.00

51,626,966.98 49,420,983.53

À¡“¬‡Àµÿ∑’Ë 17 - §à“∫”‡ÀπÁ®∫”π“≠(Àπà«¬ : ∫“∑)

2553 2552

∫”π“≠ª°µ‘ 837,144.24 742,900.32

™à«¬§à“§√Õß™’æ 68,211.82 61,692.00

‡ß‘π∫”‡ÀπÁ®µ°∑Õ¥ - 62,425.00

∫”‡ÀπÁ®¥”√ß™’æ 83,156.40 -

§à“√—°…“∫”π“≠πÕ°-√—∞ 87,847.50 57,367.00

1,076,359.96 924,384.32

À¡“¬‡Àµÿ∑’Ë 18 - §à“„™â®à“¬„π°“√Ωñ°Õ∫√¡(Àπà«¬ : ∫“∑)

2553 2552

§™®. Õ∫√¡„πª√–‡∑» 6,201,059.24 6,483,483.76

§™®. ∑ÿπ°“√»÷°…“ µª∑. 1,211,205.36 1,311,919.12

7,412,264.60 7,795,402.88

À¡“¬‡Àµÿ∑’Ë 19 - §à“„™â®à“¬„π°“√‡¥‘π∑“ß(Àπà«¬ : ∫“∑)

2553 2552

§à“‡∫’È¬‡≈’È¬ß 2,340.00 6,510.00

§à“∑’Ëæ—° 14,400.00 1,500.00

§™®. ‡¥‘π∑“ß¿“¬„π ª∑. 164,162.00 23,109.34

§à“‡∫’È¬‡≈’È¬ß 416,346.64 195,400.00

§à“∑’Ëæ—° 627,651.60 224,720.42

§™®. ‡¥‘π∑“ß µª∑. 2,490,644.37 2,353,108.97

3,715,544.61 2,804,348.73

7776

À¡“¬‡Àµÿ∑’Ë 20 - §à“«— ¥ÿ ·≈–§à“„™â Õ¬(Àπà«¬ : ∫“∑)

2553 2552

§à“«— ¥ÿ 2,122,277.52 969,139.92

§à“´àÕ¡·´¡&∫”√ÿßœ 1,169,116.26 846,329.81

§à“‡™◊ÈÕ‡æ≈‘ß 149,582.98 130,517.50

§/® ‡À¡“∫√‘°“√-¿“¬πÕ° 3,657,411.96 4,153,766.66

§/® ‡À¡“∫√‘°“√-√—∞ 287,398.00 287,760.00

§à“®â“ß∑’Ëª√÷°…“ 32,811,919.00 22,632,265.36

§à“‡∫’È¬ª√–°—π¿—¬ 4,576.00 4,576.00

§√ÿ¿—≥±åµË”°«à“‡°≥±å 346,230.26 353,528.00

§™®. „π°“√ª√–™ÿ¡ 976,780.95 978,824.00

§à“√—∫√Õß·≈–æ‘∏’°“√ 9,336.00 56,261.00

§à“«‘®—¬·≈–æ—≤π“-√—∞ 400,792.50 777,650.00

§™®. º≈—¥ àß √/¥ ·ºàπ¥‘π - 1,088,647.89

§à“ª√–™“ —¡æ—π∏å 185,859.00 122,836.00

§à“„™â Õ¬Õ◊ËπÊ 716,889.48 704,150.28

§à“µÕ∫·∑π‡©æ“–ß“π 611,975.00 366,865.00

43,450,144.91 33,473,117.42

À¡“¬‡Àµÿ∑’Ë 21 - §à“ “∏“√≥Ÿª‚¿§(Àπà«¬ : ∫“∑)

2553 2552

§à“‰øøÑ“ 1,066,423.76 775,730.29

§à“‚∑√»—æ∑å 661,618.02 696,328.35

§à“ ◊ËÕ “√·≈–‚∑√§¡π“§¡ 2,569,099.45 1,068,097.01

§à“‰ª√…≥’¬å·≈–¢π àß 192,561.00 170,839.00

4,489,702.23 2,710,994.65

À¡“¬‡Àµÿ∑’Ë 22 - §à“‡ ◊ËÕ¡√“§“(Àπà«¬ : ∫“∑)

2553 2552

§à“‡ ◊ËÕ¡- ‘Ëßª≈Ÿ°œ 258,333.33 16,986.30

§à“‡ ◊ËÕ¡ ¡-§. πß. 603,968.60 487,959.21

§à“‡ ◊ËÕ ¡-§. ¬“πæ“Àπ– 167,000.00 247,872.30

§à“‡ ◊ËÕ¡ ¡-§. ‰øøÑ“ 140,067.49 280,026.41

§à“‡ ◊ËÕ¡ ¡-§. ‚¶…≥“ 211,735.91 185,459.93

§à“‡ ◊ËÕ¡ ¡-§. °àÕ √â“ß 870.07 -

§à“‡ ◊ËÕ¡ ¡-§. §Õ¡œ 11,499,836.03 6,088,195.36

§à“‡ ◊ËÕ¡ ¡-§. §√—« 2,840.00 2,840.01

µ—¥®”Àπà“¬-software 6,037,790.00 4,928,193.23

§/ -§√ÿ¿—≥±å‰¡à√–∫ÿœ 173,414.25 377,603.38

19,095,855.68 12,615,136.13

7978

À¡“¬‡Àµÿ∑’Ë 23 - §à“„™â®à“¬‡ß‘πÕÿ¥Àπÿπ(Àπà«¬ : ∫“∑)

2553 2552

§™®. Õÿ¥Àπÿπ-¿“§√—∞ 10,000,000.00 1,000,000.00

§™®. µ“¡¡“µ√°“√¢Õß√—∞ - 106,000.00

Õÿ¥Àπÿπ ¥πß. Õ◊Ëπ 34,693,173.20 51,950,843.62

T/E- √°. °—∫ √°. 407,266.43 944,956.45

45,100,439.63 54,001,800.07

À¡“¬‡Àµÿ∑’Ë 24 - §à“„™â®à“¬Õ◊Ëπ(Àπà«¬ : ∫“∑)

2553 2552

TR- √°. √—∫‡ß‘ππÕ° (219,003,727,667.05) (15,384,539,726.94)

TR-¿“¬„π°√¡‡¥’¬«°—π (5,059,080,076.74) (108,261,642.85)

TE-∫°. ‚Õπ‡ß‘π°Ÿâ 219,271,615,617.28 14,726,229,102.82

T/E-ª√—∫‡ß‘πΩ“°§≈—ß 218,015,567,764.20 15,727,944,354.36

T/E-µ—Î«‡ß‘π§≈—ß 578,639,869,037.93 783,763,836,485.61

T/E-°Ÿâ™¥‡™¬¢“¥¥ÿ≈ 371,906,578,499.66 377,846,712,394.72

T/E-¿“¬„π°√¡ 5,059,080,076.74 108,261,642.85

§à“„™â®à“¬Õ◊Ëπ - 154,000.00

1,168,829,903,252.02 1,176,680,336,610.57

À¡“¬‡Àµÿ∑’Ë 25 - √“¬°“√Õ◊ËπÊ ∑’Ë ‰¡à‡°‘¥®“°°“√¥”‡π‘πß“π ( à«πß“π∫√‘À“√Àπ’È “∏“√≥–)(Àπà«¬ : ∫“∑)

2553 2552

°/√ ‰¡à‡°‘¥Õ≈ª‡ß‘π°Ÿâ (584,893,262.54) 174,633,338.11

°/√ √—∫√Ÿâ Õ≈ª. ‡ß‘π°Ÿâ (296,838,113.58) (1,415,466,554.25)

¥/∫ ®à“¬-„π ª∑. 1,766,218,488.37 3,513,071,755.55

¥/∫ ®à“¬-µª∑. 306,932,254.35 584,331,464.51

¥/∫ ®à“¬-„πª∑. 116,738,266,041.27 107,626,436,869.25

¥/∫ ®à“¬-µª∑. 973,786,570.31 1,200,366,819.18

à«πµË” æ∏∫.µ®π. - 334,113,445.51

à«π‡°‘π æ∏∫.µ®π. - (4,859,257,543.66)

§à“∏√√¡‡π’¬¡‡ß‘π°Ÿâ 563,147,258.79 329,996,418.05

§™®. ∑“ß°“√‡ß‘πÕ◊Ëπ 34,623,882.54 9,202,733.24

¢/∑ ‰¡à‡°‘¥®“° Õ≈ª.ß°. (1,766,417,054.40) 4,409,444,103.16

¢/∑ ‡°‘¥®“° Õ≈ª.ß°. 493,405,055.44 2,698,261,215.42

¢/∑ ‡°‘¥ Õ≈ª. Õ◊Ëπ - 53.23

®”Àπà“¬ ß≈∑. 5,191,000,000.00 3,557,000,000.00

123,419,231,120.55 118,162,134,117.30

8180

À¡“¬‡Àµÿ∑’Ë 26 - √“¬‰¥â·ºàπ¥‘π - √“¬‰¥âÕ◊ËπÊ(Àπà«¬ : ∫“∑)

2553 2552

√/¥ §à“ª√—∫Õ◊Ëπ (1,000,000.00) (12,400.00)

√/¥ §à“ ∏. „Àâ°Ÿâ§È”œ (55,495,390.74) (36,281,618.86)

√/¥ ¥∫. ‡ß‘πΩ“° (327,935.47) (2,530,258.05)

√/¥ ¥∫. ‡ß‘π„Àâ°Ÿâ 948,187,137.82 (265,317,123.42)

√/¥ ¥/∫ Àÿâπ°Ÿâ¢—Èπ 2 (154,467,623.30) (798,130,082.19)

√/¥ ¥Õ°‡∫’È¬Õ◊Ëπ - (2,264,794.98)

√/¥ ßªº. Õ◊Ëπ (555,422,479.50) -

√“¬√—∫®“°‡ß‘π≈ß∑ÿπ (5,191,000,000.00) (3,557,000,000.00)

√/¥ ‡À≈◊Õ®à“¬ªï‡°à“ (23,848,682.64) (368,036.00)

√/¥ √—∫™”√–Àπ’È (34,693,173.20) (53,050,843.62)

√“¬‰¥â‰¡à„™à¿“…’Õ◊Ëπ (71,214,547.36) (829,020.85)

(5,139,282,694.39) (4,715,784,177.97)


∫∑§«“¡«‘™“°“√¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

83°Õß∑ÿπ∫√‘À“√‡ß‘π°Ÿâ‡æ◊ËÕ°“√ª√—∫‚§√ß √â“ßÀπ’È “∏“√≥–·≈–æ—≤π“µ≈“¥µ√“ “√Àπ’È „πª√–‡∑»Public Debt Restructuring and DomesticBond Market Development Fund (PDDF)

§«“¡‡ªìπ¡“

„π™à«ß∑’Ëª√–‡∑»‰∑¬µâÕß‡º™‘≠°—∫§«“¡º—πº«π

∑“ß‡»√…∞°‘®·≈–º≈°√–∑∫®“°«‘°ƒµ∑“ß°“√‡ß‘π‚≈°

√—∞∫“≈‰¥â„™â°“√∫√‘À“√®—¥°“√Àπ’È “∏“√≥–‡ªìπ

‡§√◊ËÕß¡◊Õ π—∫ πÿπ∑’Ë ”§—≠Õ—πÀπ÷Ëß„π°“√°√–µÿâπ·≈–

øóôπøŸ‡»√…∞°‘® ‡™àπ °“√ÕÕ°æ—π∏∫—µ√ÕÕ¡∑√—æ¬å

™à«¬™“µ‘ ∑”„Àâ¬Õ¥§ß§â“ßÀπ’È “∏“√≥–∑’ËµâÕß

™”√–„πÕπ“§µ ¡’¡Ÿ≈§à“∑’ËµâÕß™”√–µàÕ§√—Èß Ÿß¢÷Èπ

¬°µ—«Õ¬à“ß‡™àπ „π‡¥◊Õπ°—π¬“¬π 2555 ®–¡’æ—π∏∫—µ√

ÕÕ¡∑√—æ¬å™à«¬™“µ‘´÷Ë ßÕÕ°µ“¡æ√–√“™°”Àπ¥

„ÀâÕ”π“®°√–∑√«ß°“√§≈—ß°Ÿâ‡ß‘π·≈–®—¥°“√‡ß‘π°Ÿâ

‡æ◊ËÕ™à«¬‡À≈◊Õ°Õß∑ÿπ‡æ◊ËÕ°“√øóôπøŸ·≈–æ—≤π“

√–∫∫ ∂“∫—π°“√‡ß‘π æ.». 2541 (æ.√.°. FIDF1)

§√∫°”Àπ¥™”√–§◊π «ß‡ß‘π√«¡°«à“ 206,000 ≈â“π∫“∑

´÷Ëß„πÕ¥’µ∑’Ëºà“π¡“ ∫π. ®– “¡“√∂√–¥¡‡ß‘π®“°

µ≈“¥‡æ◊ËÕ∑”°“√ª√—∫‚§√ß √â“ßÀπ’È‰¥â„π«ß‡ß‘π‰¡à‡°‘π

50,000 ≈â“π∫“∑¿“¬„π«—π‡¥’¬« ¥—ßπ—Èπ ®÷ß¡’‚Õ°“

∑’ËÕÿª∑“π„πµ≈“¥®–‰¡à‡æ’¬ßæÕµàÕ§«“¡µâÕß°“√

√–¥¡∑ÿπ¢Õß°√–∑√«ß°“√§≈—ß‡æ◊ËÕ∑”°“√ª√—∫

‚§√ß √â“ßÀπ’Èπ—Èπ‰¥â ®÷ß¡’°“√·°â‰¢ æ.√.∫. °“√∫√‘À“√

Àπ’È “∏“√≥– „πªï æ.». 2551 ‚¥¬‡æ‘Ë¡‡µ‘¡ ¡“µ√“

24/1 ‡æ◊ËÕ„ÀâÕ”π“®°√–∑√«ß°“√§≈—ß “¡“√∂∑¬Õ¬

°Ÿâ‡ß‘π‡æ◊ËÕ∑”°“√ª√—∫‚§√ß √â“ßÀπ’È∑’Ë§√∫°”Àπ¥∑’Ë¡’

«ß‡ß‘π Ÿß¡“° ‡ªìπ°“√≈à«ßÀπâ“‰¥â‰¡à‡°‘π 12 ‡¥◊Õπ

°àÕπ«—π∑’ËÀπ’È§√∫°”Àπ¥™”√–‰¥â

Background of PDDF

During the Asian financial crisis in 1997, the

Government of Thailand had to implement several

stimulus measures to limit the impact of the crisis on

the Thai economy. One of the most important

measures was the issuance of Financial Institution

Development Fund (FIDF) Saving bonds in an amount

of 206 Billion Baht in order to rehabilitate the financial

sector. This is extremely large when compared to the

size of the market at the time, and critically decades

on, this has become a serious challenge for the

Public Debt Management Office (PDMO) which is

responsible for the management of public debt.

Foreseeing the risk of liquidity shortages and

potentially a sovereign default if there is a matured

debt exceed 50 trillion baht on the same day, PDMO

initiated the amendments to the Public Debt

Management Act in 2008 to allow Ministry of

Finance (MOF) to pre fund for the purpose of debt

restructuring for the period less than 12 months (clause

24/1). This was necessary as the law only allowed for

refinancing of debt on the maturing date.

82

„π§√“«‡¥’¬«°—ππ—Èπ ‡æ◊ËÕ‡ªìπ°“√¢—∫‡§≈◊ËÕπ°“√

æ—≤π“µ≈“¥µ√“ “√Àπ’ÈÕ¬à“ßµàÕ‡π◊ËÕß °Á‰¥â¡’°“√

æ‘®“√≥“‡æ‘Ë¡‡µ‘¡¡“µ√“ 25/1 „Àâ°√–∑√«ß°“√§≈—ß

“¡“√∂¥”‡π‘π°“√°Ÿâ‡ß‘π‡æ◊ËÕæ—≤π“µ≈“¥µ√“ “√Àπ’È

„πª√–‡∑»‰¥âÕ¬à“ßµàÕ‡π◊ËÕß‚¥¬°“√ÕÕ°µ√“ “√Àπ’È

µ“¡§«“¡®”‡ªìπ‡æ◊ËÕ √â“ßÕ—µ√“¥Õ°‡∫’È¬ ”À√—∫„™â

Õâ“ßÕ‘ß„πµ≈“¥µ√“ “√Àπ’È ‡¡◊ËÕ√—∞∫“≈¥”‡π‘π

π‚¬∫“¬ß∫ª√–¡“≥ ¡¥ÿ≈ ´÷Ëß‡ªìπ°“√ √â“ß§«“¡

¡—Ëπ„®„Àâ·°àºŸâ√à«¡µ≈“¥«à“®–¡’Õÿª∑“π¢Õßæ—π∏∫—µ√

√—∞∫“≈„πµ≈“¥Õ¬à“ßµàÕ‡π◊ËÕß ´÷Ëß®–™à«¬„Àâ¡’°“√

æ—≤π“µ≈“¥µ√“ “√Àπ’È„Àâ‡ªìπÀπ÷Ëß„π‡ “À≈—°¢Õß

µ≈“¥°“√‡ß‘π¢Õßª√–‡∑»

In addition, to the amendments for pre-funding

of debt, the PDMO also added clause 25/1 to allow

MOF to raise fund purely for sustainable bond market

development. This amendment will allow MOF to

continuously issue benchmark bond even when

borrowing requirements is no longer necessary This

will allow the PDMO to ensure investors and market

participants of the commitment that PDMO has to

continue to develop the domestic bond market.

85

°Õß∑ÿπ∫√‘À“√‡ß‘π°Ÿâ‡æ◊ËÕ°“√ª√—∫‚§√ß √â“ßÀπ’È

“∏“√≥–·≈–æ—≤π“µ≈“¥µ√“ “√Àπ’È„πª√–‡∑»

®÷ß∂Ÿ°®—¥µ—Èß¢÷Èπ‚¥¬¡’«—µ∂ÿª√– ß§åÀ≈—°‡æ◊ËÕ∫√‘À“√

‡ß‘π°Ÿâ∑’Ë ‰¥â√—∫®“°°“√°Ÿâ ‡ß‘π‡æ◊ËÕª√—∫‚§√ß √â“ßÀπ’È

“∏“√≥–µ“¡¡“µ√“ 24/1 ·≈–°“√°Ÿâ‡ß‘π‡æ◊ËÕæ—≤π“

µ≈“¥µ√“ “√Àπ’È„πª√–‡∑»µ“¡¡“µ√“ 25/1 ‡æ◊ËÕ

≈¥§«“¡‡ ’Ë¬ß„π°“√°Ÿâ‡ß‘π«ß‡ß‘π Ÿß¿“¬„π«—π‡¥’¬«

·≈–‡æ◊ËÕ„Àâ°“√∫√‘À“√®—¥°“√Àπ’È ‡ªìπ‰ªÕ¬à“ß¡’

ª√– ‘∑∏‘¿“æ

§«“¡·µ°µà“ß√–À«à“ß°Õß∑ÿπ·≈– ∫π.

À≈“¬Ê ∑à“πÕ“®¬—ß‰¡à·πà„®«à“ Àπâ“∑’Ë¢Õß

°Õß∑ÿπœ ·µ°µà“ß®“°¿“√°‘®∑’Ë ”π—°ß“π∫√‘À“√Àπ’È

“∏“√≥– ( ∫π.) ∑”Õ¬ŸàÕ¬à“ß‰√ ∫π. ¡’Àπâ“∑’Ë

ç°”Àπ¥°≈¬ÿ∑∏å·≈–«“ß·ºπ°“√ÕÕ°æ—π∏∫—µ√‡æ◊ËÕ

ª√—∫‚§√ß √â“ßÀπ’È∑’Ë§√∫°”Àπ¥™”√– √«¡∂÷ß«“ß·ºπ

°“√∑¬Õ¬°Ÿâ‡ß‘π≈à«ßÀπâ“·≈–‡ πÕ„Àâ§≥–°√√¡°“√

π‚¬∫“¬·≈–°”°—∫°“√∫√‘À“√Àπ’È “∏“√≥– (°æπ.)

æ‘®“√≥“é „π¢≥–∑’Ë °Õß∑ÿπ¡’Àπâ“∑’Ë ç∫√‘À“√‡ß‘π∑’Ë‰¥â

√—∫®“°°“√°Ÿâ‡ß‘π≈à«ßÀπâ“¢Õß ∫π. ·≈–°“√°Ÿâ‡ß‘π‡æ◊ËÕ

æ—≤π“µ≈“¥µ√“ “√Àπ’È„πª√–‡∑» ·≈– àß‡ß‘πµâπ§◊π

„Àâ ∫π. ‡æ◊ËÕπ”‰ª™”√–§◊πÀπ’È∑’Ë§√∫°”Àπ¥™”√–é

Therefore, to serve these two new important

roles of MOF, Public Debt Restructuring and

Domestic Bond Market Development Fund (PDDF)

was set up in a form of investment arm of MOF.

PDDF is government by a board chaired by the

Permanent Secretary of the Ministry of Finance and

has representatives from relevant agencies including

the Bank of Thailand, the Fiscal Policy Office, SEC,

SEPO, Comptroller Generalûs Department, Bureau of

Budget. The Fund Manager who is responsible to day

to day operations is the Director- General of the PDMO

by position as stipulated by the Public Debt

Management Act. The core functions of the PDDF will

be to invest the proceeds from borrowings under

the two clauses with primary objectives to preserve

capital for debt repayment.

84

¬°µ—«Õ¬à“ß‡™àπ æ—π∏∫—µ√ÕÕ¡∑√—æ¬å™à«¬™“µ‘«ß‡ß‘π

ª√–¡“≥ 206,000 ≈â“π∫“∑ ∑’Ë®–§√∫°”Àπ¥™”√–

Àπ’È«—π∑’Ë 2 °.¬. 2555 ∫π. ®–‡ªìπºŸâ«“ß·ºπ°“√ª√—∫

‚§√ß √â“ßÀπ’È ´÷ËßÀ“°‰¡à¡’°“√·°â‰¢¡“µ√“ 24/1

∫π. ®–µâÕß√–¥¡‡ß‘π‡æ◊ËÕπ”‰ª™”√–Àπ’Èæ—π∏∫—µ√

ÕÕ¡∑√—æ¬å™à«¬™“µ‘∑’Ë§√∫°”Àπ¥¿“¬„π«—π‡¥’¬« ‚¥¬

‡≈◊Õ°„™â‡§√◊ËÕß¡◊Õ∑’Ë‡À¡“–°—∫ ¿“«–µ≈“¥·≈–°“√

«“ß·ºπ°“√∫√‘À“√Àπ’È “∏“√≥– ‡™àπ æ—π∏∫—µ√√—∞∫“≈

æ—π∏∫—µ√ÕÕ¡∑√—æ¬å√ÿàπ„À¡à À√◊ÕÕÕ° P/N ‡æ◊ËÕ‡ªìπ

Short-term bridging À≈—ß®“°π—Èπ®÷ß∑¬Õ¬ÕÕ°

æ—π∏∫—µ√√—∞∫“≈¡“ refinance ‡¡◊ËÕ P/N §√∫°”Àπ¥

™”√–Àπ’È ‡æ◊ËÕª√—∫„Àâ‡ªìπÀπ’È√–¬–¬“« ´÷Ëß∂◊Õ«à“¡’

§«“¡‡ ’Ë¬ß∑’Ë®–‰¡à “¡“√∂√–¥¡‡ß‘π‰¥â§√∫µ“¡®”π«π

¥—ßπ—ÈπÕ’°«‘∏’°“√Àπ÷Ëß∑’Ë “¡“√∂∑”‰¥â §◊Õ°“√°Ÿâ‡ß‘π

≈à«ßÀπâ“ (Prefunding) ‚¥¬∑¬Õ¬ÕÕ°µ√“ “√Àπ’È

≈à«ßÀπâ“°àÕπ«—π∑’Ëæ—π∏∫—µ√ÕÕ¡∑√—æ¬å§√∫°”Àπ¥

·≈–π”‡ß‘π∑’Ë‰¥â√—∫®“°°“√ÕÕ°µ√“ “√Àπ’Èπ—Èπ¡“‡¢â“

°Õß∑ÿπ„π∫—≠™’ª√—∫‚§√ß √â“ßÀπ’È “∏“√≥– ‡¡◊ËÕ¡’

°“√°Ÿâ‡ß‘π≈à«ßÀπâ“¡“‡æ◊ËÕ√Õ∑”°“√ª√—∫‚§√ß √â“ßÀπ’È

À“°‰¡à‰¥â∑”°“√∫√‘À“√®—¥°“√„Àâ‡°‘¥º≈µÕ∫·∑π

‘Ëß∑’Ë®–‡°‘¥¢÷Èπ§◊Õµâπ∑ÿπ¢Õß§à“‡ ’¬‚Õ°“ (opportunity

cost) ¥—ßπ—Èπ ‡¡◊ËÕ ∫π. àß¡Õ∫‡ß‘π∑’Ë°Ÿâ≈à«ßÀπâ“„Àâ·°à

The relationship between PDMO and

PDDF

The PDDF has a key role to play when it comes

to supporting the debt management and bond market

development operations of the PDMO. With saving

bond FIDF maturing in September 2012, the PDMO

who is solely responsible for the restructuring

strategy of the maturing debt, has already started to

formulate pre-funding strategies. When the need to

execute arises, the PDMO will issue bonds and then

immediately transfer the cash to the PDDF, this is

likely to happen in phases as the PDMO gradually

raise debt on a monthly basis to pre-fund the maturing

debt. The PDDF then handles the investment of

87°Õß∑ÿπ °Õß∑ÿπ®÷ß¡’Àπâ“∑’Ë„π°“√∫√‘À“√®—¥°“√‚¥¬

π”‡ß‘π‰ª≈ß∑ÿπ„π°√Õ∫°“√≈ß∑ÿπ∑’Ë°Õß∑ÿπœ °”Àπ¥‰«â

·≈–‡¡◊ËÕ«—π∑’Ëæ—π∏∫—µ√ÕÕ¡∑√—æ¬å™à«¬™“µ‘§√∫°”Àπ¥

°Õß∑ÿπ°Á àß‡ß‘π§◊π„Àâ ∫π. ¥—ßπ—Èπ®–‡ÀÁπ‰¥â«à“ ‡¡◊ËÕ¡’

°“√µ—Èß°Õß∑ÿπ¢÷Èπ¡“ Àπâ“∑’Ë¢Õß ∫π. °Á‰¡à‰¥â

‡ª≈’Ë¬π·ª≈ß‰ªÕ¬à“ß‰√ ·µà°Õß∑ÿπ‡¢â“¡“‡æ‘Ë¡

ª√– ‘∑∏‘¿“æ„π°“√∫√‘À“√®—¥°“√‚¥¬°“√≈¥µâπ∑ÿπ

§à“‡ ’¬‚Õ°“ „π°“√°Ÿâ ‡ß‘π‡æ◊ËÕª√—∫‚§√ß √â“ßÀπ’È

≈à«ßÀπâ“π—Ëπ‡Õß

”À√—∫¥Õ°º≈∑’Ë‰¥â√—∫®“°°“√∫√‘À“√®—¥°“√

À≈—ß®“°À—°§à“„™â®à“¬„π°“√∫√‘À“√®—¥°“√°Õß∑ÿπ

®– àß§◊π ∫π. ‡æ◊ËÕπ”‰ª™”√–¥Õ°‡∫’È¬∑’Ë‡°‘¥®“°°“√

ª√—∫‚§√ß √â“ßÀπ’È ·≈–‡æ◊ËÕ‡ªìπ‡ß‘π ”√Õß°√≥’‡ß‘π

„π∫—≠™’‰¡àæÕ™”√–‡ß‘πµâπÀ√◊Õ¥Õ°‡∫’È¬¢Õßæ—π∏∫—µ√

∑’ËÕÕ°‡æ◊ËÕæ—≤π“µ≈“¥µ√“ “√Àπ’È „π√–¬–¬“«

°Õß∑ÿπµ—Èß‡ªÑ“À¡“¬«à“®–‡ªìπÕß§å°√∑’Ë “¡“√∂‡≈’È¬ß

µ—«‡Õß‰¥â‚¥¬‰¡àµâÕß¢Õ π—∫ πÿπ‡ß‘πß∫ª√–¡“≥ ‡æ◊ËÕ

≈¥¿“√–ß∫ª√–¡“≥¿“§√—∞

proceeds from pre-funding until the day of the

maturity of the debt, the PDDF will then transfer the

cash back to the PDMO in time for debt repayment.

Thus, the responsibility of debt repayment remains

firmly with that of the PDMO. Therefore, with the

PDDF, not only that the PDMO can now prevent

sovereign default as a result of liquidity shortages, but

can also prefund debt with lower cost as a result of

the returns received from PDDFûs investment in

non-risky assets.

86

PDDF Organization Chart

PDDF Board of Directors Internal Audit

PDDF Manager

Assistant manager

Fund ManagementGroup

Invesment Policyand Planning Group

Fund OperationGroup

AdministrationGroup

External Asset Managers(Outsource)

Custodian(Outsource)

π‚¬∫“¬≈ß∑ÿπ¢Õß°Õß∑ÿπ

‡ªÑ“À¡“¬ Ÿß ÿ¥„π°“√∫√‘À“√‡ß‘π°Õß∑ÿπ§◊Õ ‡æ◊ËÕ

√—°…“§«“¡ª≈Õ¥¿—¬¢Õß‡ß‘πµâπ (Preservation of

Capital) ‡π◊ËÕß®“°‡ß‘π¢Õß°Õß∑ÿπ„π∑’Ë ÿ¥·≈â«®–µâÕß

§◊π‰ª∑’Ë ∫π. ‡æ◊ËÕπ”‰ª™”√–Àπ’È∑’Ë§√∫°”Àπ¥ ¥—ßπ—Èπ

°Õß∑ÿπ®÷ß‰¥â°”Àπ¥°√Õ∫°“√≈ß∑ÿπ∑’Ë§àÕπ¢â“ß

Conservative ‚¥¬„Àâ≈ß∑ÿπ„πÀ≈—°∑√—æ¬å∑’Ë¡’§«“¡

¡—Ëπ§ß Ÿß „π —¥ à«π‰¡àπâÕ¬°«à“√âÕ¬≈–À° ‘∫¢Õß‡ß‘π

°Õß∑ÿπ ·≈–≈ß∑ÿπ„πµ√“ “√Àπ’ÈÕ◊Ëπ∑’Ë‰¥â√—∫°“√

®—¥Õ—π¥—∫§«“¡πà“‡™◊ËÕ∂◊Õ Ÿß ÿ¥®“° ∂“∫—π®—¥Õ—π¥—∫

§«“¡πà“‡™◊ËÕ∂◊Õ ‡™àπ Fitch rating, S&Ps and Moodyûs

„π —¥ à«π‰¡à‡°‘π√âÕ¬≈– ’Ë ‘∫¢Õß‡ß‘π°Õß∑ÿπ ‚¥¬

À≈—°∑√—æ¬å∑’Ë¡’§«“¡¡—Ëπ§ß Ÿß∑’Ë°Õß∑ÿπ≈ß∑ÿπ‰¥âπ—Èπ

‰¥â·°à µ√“ “√Àπ’È∑’ËÕÕ°À√◊Õ§È”ª√–°—π‚¥¬°√–∑√«ß

°“√§≈—ß µ√“ “√Àπ’È∑’ËÕÕ°‡ªìπ‡ß‘πµ√“ °ÿ≈À≈—° ·≈–

ÕÕ°À√◊Õ§È”ª√–°—π‚¥¬√—∞∫“≈µà“ßª√–‡∑» ∂“∫—π

°“√‡ß‘π¢Õß√—∞∫“≈µà“ßª√–‡∑» À√◊Õ ∂“∫—π°“√‡ß‘π

√–À«à“ßª√–‡∑» ∑’Ë‰¥â√—∫°“√®—¥Õ—π¥—∫§«“¡πà“‡™◊ËÕ∂◊Õ

Ÿß ÿ¥ ·≈–°“√∑”∏ÿ√°√√¡´◊ÈÕ‚¥¬¡’ —≠≠“®–¢“¬§◊π

´÷Ëßµ√“ “√Àπ’È∑’ËÕÕ°‚¥¬°√–∑√«ß°“√§≈—ß

PDDF’s Investment Mandate

Given that the money transferred to PDDF is the

from borrowings raised for debt restructuring, it is

imperative that the PDDF ensures that the principle

will be return fully to the PDMO at the end of the

investment period for debt repayment. Therefore, the

main investment objective of the fund is çCapital

Preservationé. the investment universe is highly

conservative and includes only low risk assets,

89

πÕ°®“°π’È „π°“√®—¥°“√≈ß∑ÿπ °Õß∑ÿπµâÕß

§”π÷ß∂÷ß§«“¡¡—Ëπ§ß º≈µÕ∫·∑π ·≈–§«“¡‡ ’Ë¬ß∑’Ë

‡À¡“– ¡ ‚¥¬„Àâ¡’°“√∫√‘À“√§«“¡‡ ’Ë¬ß„π¥â“πµà“ßÊ

‰¥â·°à §«“¡‡ ’Ë¬ß¥â“πÕ—µ√“¥Õ°‡∫’È¬ §«“¡‡ ’Ë¬ß¥â“π

‡§√¥‘µ §«“¡‡ ’Ë¬ß¥â“π ¿“æ§≈àÕß ·≈–§«“¡‡ ’Ë¬ß

¥â“πÕ—µ√“·≈°‡ª≈’Ë¬π ´÷Ëß°√≥’¡’°“√≈ß∑ÿπ„π

µà“ßª√–‡∑» ®–µâÕß∑”∏ÿ√°√√¡ªÑÕß°—π§«“¡‡ ’Ë¬ß

¥â“πÕ—µ√“·≈°‡ª≈’Ë¬π‰¡àπâÕ¬°«à“√âÕ¬≈–·ª¥ ‘∫¢Õß

¡Ÿ≈§à“°“√≈ß∑ÿπ„πµà“ßª√–‡∑»

°“√¥”‡π‘πß“π¢Õß°Õß∑ÿπ„π™à«ß∑’Ëºà“π¡“·≈–°â“«µàÕ‰ª

°Õß∑ÿπ¡’∞“π–‡ªìπÀπà«¬ß“π¢Õß√—∞∑’Ë‰¡à‡ªìπ

à«π√“™°“√µ“¡°ÆÀ¡“¬«à“¥â«¬√–‡∫’¬∫∫√‘À“√

√“™°“√·ºàπ¥‘πÀ√◊Õ√—∞«‘ “À°‘®µ“¡°ÆÀ¡“¬«à“¥â«¬

«‘∏’°“√ß∫ª√–¡“≥À√◊Õ°ÆÀ¡“¬Õ◊Ëπ ‚¥¬¡’§≥–

°√√¡°“√°Õß∑ÿπ∫√‘À“√‡ß‘π°Ÿâ‡æ◊ËÕ°“√ª√—∫‚§√ß √â“ß

Àπ’È “∏“√≥–·≈–æ—≤π“µ≈“¥µ√“ “√Àπ’È„πª√–‡∑»

∑”Àπâ“∑’Ë°”°—∫¥Ÿ·≈°“√∫√‘À“√®—¥°“√ °”Àπ¥

À≈—°‡°≥±å„π°“√≈ß∑ÿπ¢Õß°Õß∑ÿπ µ≈Õ¥®πÕÕ°

¢âÕ∫—ß§—∫ √–‡∫’¬∫ ª√–°“» §” —Ëß∑’Ë‡°’Ë¬«¢âÕß ‚¥¬¡’

ª≈—¥°√–∑√«ß°“√§≈—ß‡ªìπª√–∏“π§≥–°√√¡°“√ ·≈–

ºŸâÕ”π«¬°“√ ”π—°ß∫ª√–¡“≥ Õ∏‘∫¥’°√¡∫—≠™’°≈“ß

specifically, PDDF is must invest at least 60% of the

total amount in safe assets including fixed income

instruments issued and/or guaranteed by MOF &

governmentûs financial institutions & international

financial institutions with highest ratings from Fitch

rating and/or S&Ps and/or Moodyûs and/or other credit

rating agency recognized by SEC, and also Reverse

Repo and no more than 40% in riskier assets

including other fixed income instruments with highest

credit rating Furthermore, the PDDF may look to

invest in the external markets when there liquidity in

the domestic market is not sufficient, this portion is

included in the safe assets (invest at least 60%).

However, according to investment guidelines issued

by the Board, foreign investments must be hedged by

at least 80 % of total investment abroad, this is to

ensure that foreign exchange rates movement do not

reduce the principle.

88

ºŸâÕ”π«¬°“√ ”π—°ß“π§≥–°√√¡°“√π‚¬∫“¬

√—∞«‘ “À°‘® ºŸâÕ”π«¬°“√ ”π—°ß“π‡»√…∞°‘®°“√§≈—ß

ºŸâ«à“°“√∏π“§“√·Ààßª√–‡∑»‰∑¬ ‡≈¢“∏‘°“√

”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–

µ≈“¥À≈—°∑√—æ¬å ª√–∏“π°√√¡°“√µ≈“¥À≈—°∑√—æ¬å

·Ààßª√–‡∑»‰∑¬ ‚¥¬¡’ºŸâÕ”π«¬°“√ ”π—°ß“π∫√‘À“√

Àπ’È “∏“√≥–‡ªìπ°√√¡°“√·≈–‡≈¢“πÿ°“√ √«¡∂÷ß

¥”√ßµ”·ÀπàßºŸâ®—¥°“√°Õß∑ÿπ ‡æ◊ËÕ∑”Àπâ“∑’Ë¥”‡π‘π

°‘®°“√¢Õß°Õß∑ÿπ„Àâ ‡ªìπ‰ªµ“¡«—µ∂ÿª√– ß§å

¢Õß°Õß∑ÿπ·≈–µ“¡∑’Ë§≥–°√√¡°“√œ °”Àπ¥

‡æ◊Ë Õ „Àâ ° “ √¥” ‡π‘ π ß“π¡’ §«“¡§≈à Õ ßµ— «

§≥–°√√¡°“√œ ‰¥â‡ÀÁπ™Õ∫°“√°”Àπ¥‚§√ß √â“ß

°“√∫√‘À“√ß“π¢Õß°Õß∑ÿπ ‚¥¬·∫àß‡ªìπ 4 “¬ß“π

‰¥â·°à 1) “¬ß“π®—¥°“√°Õß∑ÿπ 2) “¬ß“ππ‚¬∫“¬

·≈–·ºπ 3) “¬ß“π°”°—∫≈ß∑ÿπ ·≈– 4) “¬ß“π

”π—°ß“π ·≈–Àπà«¬ß“πµ√«® Õ∫¿“¬„π ´÷Ëß¢÷Èπµ√ß

°—∫§≥–°√√¡°“√°Õß∑ÿπ

PDDF’s preparation for Investment

During 2009-2010, PDMO has been hard at work

in setting up the fund , The Board\has approved the

organization structure and comprises of 4 main

departments (as shown in figure ...) including 1) Fund

Operation Department responsible for investment

execution, 2) Policy and Planning Department which

formulate investment strategies, 3) Compliance

Department monitors and evaluate fund management

operations and 4) Fund Administration Department and

Internal control ensure funds good governance and

91 “¬ß“π®—¥°“√≈ß∑ÿπ‡ª√’¬∫‡ ¡◊Õπ Front office

¡’Àπâ“∑’Ë„π°“√∑”∏ÿ√°√√¡„π°“√´◊ÈÕ¢“¬∑—ÈßÀ¡¥·≈–

∏ÿ√°√√¡°“√≈ß∑ÿπµà“ßÊ ¢Õß°Õß∑ÿπ à«π “¬ß“π

π‚¬∫“¬·≈–·ºπ‡ªìπ Middle office ∑”Àπâ“∑’Ë°”Àπ¥

‡ πÕ·π–π‚¬∫“¬ ·ºπ·≈–°≈¬ÿ∑∏å°“√≈ß∑ÿπ„Àâ°—∫

∑“ßºŸâ®—¥°“√°Õß∑ÿπ·≈–§≥–°√√¡°“√°Õß∑ÿπ

æ‘®“√≥“°”Àπ¥ ∑—Èßπ’È¿“¬„µâ “¬ß“ππ‚¬∫“¬·≈–·ºπ

®–¡’ΩÉ“¬∫√‘À“√§«“¡‡ ’Ë¬ß°“√≈ß∑ÿπ´÷Ëß¡’Àπâ“∑’Ë°”Àπ¥

Portfolio Benchmark µà“ßÊ «à“§«√°”Àπ¥§«“¡‡ ’Ë¬ß

¢ÕßÕ—µ√“·≈°‡ª≈’Ë¬π ·≈–§«“¡‡ ’Ë¬ß¢Õß°“√≈ß∑ÿπ

„π·≈–µà“ßª√–‡∑»«à“§«√¡’ —¥ à«π∑’Ë‡À¡“– ¡‡∑à“‰√

‚¥¬ “¬ß“π®—¥°“√≈ß∑ÿπ®–∑”°“√≈ß∑ÿπ (execute)

¿“¬„µâ ° √Õ∫π‚¬∫“¬·≈–·ºπ∑’Ë °”Àπ¥‚¥¬

§≥–°√√¡°“√°Õß∑ÿπ ·≈–ºŸâ®—¥°“√°Õß∑ÿπ ∑”„Àâ

∑—Èß Õß “¬ß“π®–µâÕßµ‘¥µ“¡ ¿“«–‡»√…∞°‘®·≈–

µ≈“¥°“√‡ß‘πÕ¬à“ß„°≈â™‘¥‡æ◊ËÕ„Àâ‡°‘¥§«“¡‡¢â“„®∑’Ë

µ√ß°—π ”À√—∫ “¬ß“π°”°—∫°“√≈ß∑ÿπ®–¡’§«“¡

”§—≠Õ¬à“ß¬‘Ëß„π°“√∑”Àπâ“∑’Ë°”°—∫¥Ÿ·≈ ·≈–µ√«®

Õ∫°“√≈ß∑ÿπµà“ßÊ ∑—ÈßÀ¡¥ „Àâ¡’§«“¡∂Ÿ°µâÕß ‚ª√àß„

·≈–Õ¬Ÿà¿“¬„µâ°√Õ∫π‚¬∫“¬°“√≈ß∑ÿπ °≈¬ÿ∑∏å·≈–

°Ø√–‡∫’¬∫∑’Ë‡°’Ë¬«¢âÕß “¬ß“π ”π—°ß“π ‡ ¡◊Õπ‡ªìπ

Supporting Unit ∑’Ë ”§—≠ ∑”Àπâ“∑’Ë¥Ÿ·≈ß“π¥â“π

reports directly to the Fund Manager. Apart from

setting up the structure of the Fund, PDDF has

engaged in various critical issues to ensure that the

fund investment operations run smoothly. The Board

of PDDF has drafted and issued investment

guidelines which includes investment mandates that

was mentioned earlier. the fund has been negotiating

Schedule to the Master Agreement and Supplemental

Terms and Conditions to the GMRA in order to allow

for derivative and Reverse Repo transaction. . As the

Fund will not hire many full time staff due to the

nature of the investment periods, the PDDF plans to

outsource external fund managers to handle

investment operations and also custodian to oversee

safekeeping, clearing settlements as well as fund

90

°“√∫√‘À“√ß“π∫ÿ§§≈·≈–ß“π “√∫√√≥ ß“π∫—≠™’

°“√‡ß‘π·≈–ß∫ª√–¡“≥ æ— ¥ÿ °ÆÀ¡“¬ ·≈–

‡∑§‚π‚≈¬’ “√ π‡∑» ”À√—∫Àπà«¬µ√«® Õ∫¿“¬„π

¡’Àπâ“∑’ËÀ≈—°„π°“√µ√«® Õ∫°“√¥”‡π‘πß“π¿“¬„π

¢Õß°Õß∑ÿπ √“¬ß“πº≈°“√µ√«® Õ∫µàÕºŸâ®—¥°“√

°Õß∑ÿπ „Àâ‡ªìπ‰ªµ“¡À≈—°°“√∫√‘À“√®—¥°“√∑’Ë¥’

¢≥–π’È °Õß∑ÿπ‰¥â‡√àß¥”‡π‘π°“√‡µ√’¬¡°“√‡æ◊ËÕ

√Õß√—∫°“√°Ÿâ‡æ◊ËÕª√—∫‚§√ß √â“ßÀπ’È≈à«ßÀπâ“§√—Èß·√°

„π™à«ßªïß∫ª√–¡“≥ æ.». 2555 ‚¥¬‰¥â¡’°“√®—¥∑”

√–‡∫’¬∫≈ß∑ÿπ ·≈–√–‡∫’¬∫µà“ßÊ ‡æ◊ËÕ„™â„π°“√

¥”‡π‘πß“π¢Õß°Õß∑ÿπ √«¡∂÷ß°“√‡µ√’¬¡°“√√Ÿª·∫∫

—≠≠“¡“µ√∞“π ISDA ·≈– GMRA ‡æ◊ËÕ√Õß√—∫

°“√∑”∏ÿ√°√√¡∫√‘À“√§«“¡‡ ’Ë¬ß·≈– Repo ¢Õß

°Õß∑ÿπ Õ¬à“ß‰√°Áµ“¡ ‡π◊ËÕß®“°°Õß∑ÿπ¬—ßÕ¬Ÿà„π™à«ß

°“√‡√‘Ë¡µâπ∑’Ë®–µâÕß¡’°“√«à“®â“ß∫ÿ§≈“°√·≈–«“ß

§«“¡æ√âÕ¡„π∑ÿ°Ê ¥â“π‡æ◊ËÕ„Àâ°“√∫√‘À“√‡ß‘π°Õß∑ÿπ

‡ªìπ‰ªÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ °Õß∑ÿπ‰¥â¡’π‚¬∫“¬

„π°“√«à“®â“ßºŸâ∫√‘À“√ ‘π∑√—æ¬å¿“¬πÕ°∑’Ë¡’§«“¡

‡™’Ë¬«™“≠„π°“√≈ß∑ÿπ„πµ≈“¥‡ß‘π·≈–µ≈“¥

µ√“ “√Àπ’È ¡“‡æ◊ËÕ∑”Àπâ“∑’Ë∫√‘À“√‡ß‘π≈ß∑ÿπ¢Õß

accounting and consolidation. The process of

selecting both Fund Manager and Custodian Banks

are expected to be completed in time before first

investment in October 2011. In addition, outsourcing

of Fund Managers also allow the PDDF to enhance

capabilities through knowledge transfer as over the

next few years the PDDF staff may eventually

conduct investment operations themselves.

93

°Õß∑ÿπ ‚¥¬°Õß∑ÿπ‰¥â«“ß√–∫∫µ‘¥µ“¡ °”°—∫·≈–

§«∫§ÿ¡°“√≈ß∑ÿπÕ¬à“ß„°≈â™‘¥ πÕ°®“°π—Èπ°“√

√à«¡ß“π°—∫ºŸâ∫√‘À“√ ‘π∑√—æ¬å¿“¬πÕ°¬—ß‡ªìπ‚Õ°“

„Àâ∫ÿ§≈“°√¢Õß°Õß∑ÿπ‰¥â‡√’¬π√Ÿâ®“°ª√– ∫°“√≥å

§«“¡‡™’Ë¬«™“≠¢ÕßºŸâ∫√‘À“√ ‘π∑√—æ¬å ºà“π°“√®—¥

Õ∫√¡·≈–∂à“¬∑Õ¥§«“¡√Ÿâ ‡æ◊ËÕæ—≤π“»—°¬¿“æ¢Õß

∫ÿ§≈“°√„Àâ “¡“√∂¥”‡π‘π°“√≈ß∑ÿπ‡Õß‰¥â„πÕπ“§µ

´÷Ëß„πÕ’° “¡∂÷ß ’Ëªï¢â“ßÀπâ“∑’Ë√—∞∫“≈‰¥âµ—Èß‡ªÑ“À¡“¬

„Àâª√–‡∑»‰∑¬‡¢â“ Ÿà¿“«–ß∫ª√–¡“≥ ¡¥ÿ≈ ∫∑∫“∑

¢Õß°Õß∑ÿπ°Á®–¬‘Ëß‡æ‘Ë¡¡“°¢÷Èπ„π°“√‡ªìπøíπ‡øóÕß

”§—≠ ‡æ◊ËÕ π—∫ πÿπ°“√æ—≤π“µ≈“¥µ√“ “√Àπ’È

‰∑¬„Àâ¡’°“√‡®√‘≠‡µ‘∫‚µÕ¬à“ß¡—Ëπ§ß·≈–¡’‡ ∂’¬√¿“æ

Looking Forward

The PDDF will soon be ready for the first lot of

investment in October and also meet the challenge of

restructuring the FIDF Saving bond of 206 Billion Baht

which matures in September 2012. On the other hand,

with the PDDF in full function, PDMO will also be able

to continue its objective in maintain bond market

development through the issuance of bonds for bond

market development as in the near future Thailand

may enter into a balanced budget. Therefore, the role

of PDDF is expected to be more critical as we look

into the challenges that lie ahead.

92

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ªï 2550 - 2551 ‰¥â àßº≈°√–∑∫µàÕ‡»√…∞°‘®∑—Ë«‚≈° √«¡∂÷ß‡»√…∞°‘®¢Õßª√–‡∑»‰∑¬∑’Ë‰¥â√—∫º≈°√–∑∫Õ¬à“ß√ÿπ·√ß

√—∞∫“≈‰¥â∑”Àπâ“∑’ËÀ≈—°·≈–√—∫¿“√–„π°“√øóôπøŸ·≈–°√–µÿâπ‡»√…∞°‘® √«¡∑—Èß√—°…“‡ ∂’¬√¿“æ∑“ß‡»√…∞°‘®

ºà“ππ‚¬∫“¬°“√§≈—ß (Fiscal Policy) ´÷Ëß°“√¥”‡π‘ππ‚¬∫“¬°“√§≈—ß §◊Õ °“√‡ª≈’Ë¬π·ª≈ß√“¬‰¥â·≈–√“¬®à“¬

¢Õß√—∞∫“≈‚¥¬„™âπ‚¬∫“¬¿“…’Õ“°√ (Taxation Policy) π‚¬∫“¬√“¬®à“¬¢Õß√—∞∫“≈ (Public Expenditures Policy)

·≈–π‚¬∫“¬Àπ’È “∏“√≥– (Public Debt Policy) Õ¬à“ß„¥Õ¬à“ßÀπ÷ËßÀ√◊Õ∑—Èß “¡π‚¬∫“¬√à«¡°—π´÷Ëß· ¥ßÕÕ°¡“„π

√Ÿª¢Õß°“√®—¥∑”ß∫ª√–¡“≥·ºàπ¥‘π ´÷Ëß°“√«“ßπ‚¬∫“¬°“√®—¥∑”ß∫ª√–¡“≥·ºàπ¥‘π ·∫àß‰¥â‡ªìπ 3 ≈—°…≥–

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1. π‚¬∫“¬ß∫ª√–¡“≥¢“¥¥ÿ≈ (Deficit Budget) À¡“¬∂÷ß °“√ª√–¡“≥°“√√“¬®à“¬ª√–®”ªï Ÿß°«à“

ª√–¡“≥°“√√“¬‰¥â ®–„™â„π ¿“«–∑’Ë‡»√…∞°‘®¢Õßª√–‡∑»µ°µË” √“¬®à“¬¡«≈√«¡¢Õß√–∫∫‡»√…∞°‘®¡’‰¡à

‡æ’¬ßæÕ∑’Ë®–∑”„Àâ‡°‘¥°“√®â“ßß“π‡µÁ¡∑’Ë ‡æ◊ËÕ‡æ‘Ë¡§«“¡µâÕß°“√„™â®à“¬¿“¬„πª√–‡∑» ´÷Ëß®–∑”„Àâ°“√®â“ßß“π

·≈–√“¬‰¥âª√–™“™“µ‘‡æ‘Ë¡¢÷Èπ

2. π‚¬∫“¬ß∫ª√–¡“≥‡°‘π¥ÿ≈ (Surplus Budget) À¡“¬∂÷ß °“√ª√–¡“≥°“√√“¬®à“¬ª√–®”ªïµË”°«à“

ª√–¡“≥°“√√“¬‰¥â ®–„™â„π ¿“«–∑’Ë‡»√…∞°‘®¢Õßª√–‡∑»¢¬“¬µ—«¡“°‡°‘π‰ª®πÕ“®‡°‘¥¿“«–‡ß‘π‡øÑÕ ¡’°“√

‡°Áß°”‰√ ∑”„Àâ√“§“ ‘π§â“·≈–∫√‘°“√‡æ‘Ë¡¢÷ÈπÕ¬à“ß√«¥‡√Á« À√◊Õ∑’Ë‡√’¬°«à“‡»√…∞°‘®øÕß ∫Ÿà ‚¥¬π‚¬∫“¬¥—ß°≈à“«

®–‡ªìπ°“√≈¥§«“¡µâÕß°“√„™â®à“¬¿“¬„πª√–‡∑» ´÷Ëß®–™à«¬™–≈Õ§«“¡√âÕπ·√ß¢Õß√–∫∫‡»√…∞°‘®·≈–≈¥·√ß

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°“√®—¥∑”ß∫ ¡¥ÿ≈ 5 ªï

95

3. π‚¬∫“¬ß∫ª√–¡“≥ ¡¥ÿ≈ (Balanced Budget) À¡“¬∂÷ß °“√ª√–¡“≥°“√√“¬®à“¬ª√–®”ªï‡∑à“°—∫

ª√–¡“≥°“√√“¬‰¥â ®–‡°‘¥¢÷Èπ„π°√≥’∑’Ë√—∞∫“≈‡ÀÁπ«à“‰¡à¡’§«“¡®”‡ªìπ∑’Ë®–µâÕßª√—∫§à“„™â®à“¬√«¡¢Õß√–∫∫

‡»√…∞°‘®„Àâ‡æ‘Ë¡¢÷ÈπÀ√◊Õ≈¥≈ß ‚¥¬®–ª≈àÕ¬„Àâº≈‘µ¿—≥±åª√–™“™“µ‘¢÷ÈπÕ¬Ÿà°—∫√–¥—∫°“√„™â®à“¬¢Õß¿“§‡»√…∞°‘®Õ◊Ëπ

‡™àπ ¿“§§√—«‡√◊Õπ ·≈–¿“§∏ÿ√°‘® ·≈–„π°√≥’∑’Ë¡’ªí≠À“∑“ß‡»√…∞°‘®∫“ßª√–°“√‡°‘¥¢÷Èπ°ÁÕ“®®–‡≈◊Õ°„™â

π‚¬∫“¬°“√‡ß‘π·∑π ´÷Ëß‡ªìπ≈—°…≥–¢Õß°“√®—¥∑”ß∫ª√–¡“≥„π°√≥’∑’Ë‡»√…∞°‘®¢Õßª√–‡∑»¡’‡ ∂’¬√¿“æ

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µ—Èß·µàª√–‡∑»‰∑¬ª√– ∫ªí≠À“«‘°ƒµ‡»√…∞°‘®„πªï 2540 √—∞∫“≈¥”‡π‘ππ‚¬∫“¬°“√§≈—ß·∫∫

¢“¥¥ÿ≈‡æ◊ËÕ°√–µÿâπ‡»√…∞°‘®µ‘¥µàÕ°—πÀ≈“¬ªïµ—Èß·µàªïß∫ª√–¡“≥ æ.». 2542 ®π°√–∑—Èß∂÷ßªí®®ÿ∫—π (¬°‡«âπ

ªïß∫ª√–¡“≥ æ.». 2548 ·≈– æ.». 2549 ∑’Ë¡’°“√¥”‡π‘ππ‚¬∫“¬°“√§≈—ß·∫∫ ¡¥ÿ≈) „π°“√¥”‡π‘ππ‚¬∫“¬

·∫∫¢“¥¥ÿ≈¥—ß°≈à“« ∑”„ÀâµâÕß¡’°“√°Ÿâ‡ß‘π‡æ◊ËÕ™¥‡™¬°“√¢“¥¥ÿ≈ß∫ª√–¡“≥∑ÿ°ªï1 àßº≈„Àâ°“√°àÕÀπ’È

“∏“√≥–‡æ‘Ë¡¡“°¢÷Èπ ·≈–√–¥—∫Àπ’È “∏“√≥–¢Õßª√–‡∑»‡æ‘Ë¡ Ÿß¢÷ÈπÕ¬à“ßµàÕ‡π◊ËÕß ∂÷ß·¡â«à“°“√°àÕÀπ’È‡æ‘Ë¡¢Õß

√—∞∫“≈®–∑”„Àâ√–¥—∫Àπ’È “∏“√≥–¢Õßª√–‡∑»‡æ‘Ë¡ Ÿß¢÷Èπ ·µà„πÕ’°·ßà¡ÿ¡Àπ÷Ëß À“°‡ª√’¬∫‡∑’¬∫√–¥—∫Àπ’È

“∏“√≥–µàÕº≈‘µ¿—≥±å¡«≈√«¡„πª√–‡∑» (Gross Domestic Product : GDP) ®–‡ÀÁπ‰¥â«à“Àπ’È “∏“√≥– µàÕ GDP

¢Õßª√–‡∑»¡’ —¥ à«π∑’Ë≈¥≈ßÕ¬à“ßµàÕ‡π◊ËÕß‡™àπ°—π ¥—ßπ—Èπ°“√°√–µÿâπ‡»√…∞°‘®¢Õß√—∞∫“≈ºà“π°“√¥”‡π‘π

π‚¬∫“¬¢“¥¥ÿ≈‚¥¬¡’°“√°àÕÀπ’È “∏“√≥–‡ªìπµ—«¢—∫‡§≈◊ËÕπ∑”„Àâ‡»√…∞°‘®¢Õßª√–‡∑»øóôπµ—« ·≈– “¡“√∂

√â“ß√“¬‰¥â„Àâ°—∫ª√–‡∑»‰¥â

1 °“√°Ÿâ‡ß‘π‡æ◊ËÕ™¥‡™¬°“√¢“¥¥ÿ≈ß∫ª√–¡“≥ “¡“√∂¥”‡π‘π°“√¿“¬„µâæ√–√“™∫—≠≠—µ‘°“√∫√‘À“√Àπ’È “∏“√≥– æ.». 2548 ∑’Ë°”Àπ¥„Àâ„πªïß∫ª√–¡“≥Àπ÷Ëß°√–∑√«ß°“√§≈—ß°Ÿâ‡ß‘π∫“∑‰¥â‰¡à‡°‘π√âÕ¬≈– 20 ¢Õßß∫ª√–¡“≥√“¬®à“¬ª√–®”ªï∑’Ë„™â∫—ß§—∫Õ¬Ÿà„π¢≥–π—Èπ·≈–ß∫ª√–¡“≥√“¬®à“¬‡æ‘Ë¡‡µ‘¡ ·≈–√âÕ¬≈– 80¢Õßß∫ª√–¡“≥√“¬®à“¬∑’Ëµ—Èß‰«â ”À√—∫°“√™”√–§◊π‡ß‘πµâπ

«ß‡ß‘π°Ÿâ‡æ◊ËÕ™¥‡™¬°“√¢“¥¥ÿ≈ß∫ª√–¡“≥ ªïß∫ª√–¡“≥ 2540 - 2553

400,000

350,000

300,000

250,000

200,000

150,000

100,000

50,000

0

25

≈â“π∫“∑ % µàÕ ßª¡.

20

15

10

5

0

3.03

25,000

ªï 40 ªï 41 ªï 42 ªï 43

110,000

12.79

ªï 44

105,000

11.54

ªï 45

200,000

19.55

ªï 46

174,900

17.49

ªï 47

99,900

9.72

ªï 48 ªï 49

146,200

ªï 50

9.33

ªï 51

165,500

9.94

ªï 52

347,061

17.78

ªï 53

20.59

350,000

94

∑—Èßπ’È ®“°°“√∑’Ë√—∞∫“≈‰¥â¡’°“√¥”‡π‘ππ‚¬∫“¬°“√§≈—ß·∫∫¢“¥¥ÿ≈¡“‚¥¬µ≈Õ¥ ‡æ◊ËÕøóôπøŸ ·≈–°√–µÿâπ

‡»√…∞°‘® ‰¥â°àÕ„Àâ‡°‘¥§«“¡‡ ’Ë¬ßµàÕ°“√ Ÿ≠‡ ’¬§«“¡¡—Ëπ§ß∑“ß°“√§≈—ß„πÕπ“§µ Õ¬à“ß‰√°Á¥’ ªí®®ÿ∫—π

—≠≠“≥°“√øóôπµ—«∑“ß‡»√…∞°‘®¢Õßª√–‡∑»‰∑¬‡√‘Ë¡¥’¢÷Èπ®“°¿“§‡Õ°™π∑—Èß„π à«π¢Õß°“√∫√‘‚¿§ °“√≈ß∑ÿπ

·≈–°“√ àßÕÕ° ∑”„Àâ¿“§‡Õ°™π “¡“√∂∑”Àπâ“∑’ËÀ≈—°„π°“√æ—≤π“‡»√…∞°‘® ¥—ßπ—Èπ √—∞∫“≈®÷ß‡√‘Ë¡

àß —≠≠“≥„π°“√≈¥∫∑∫“∑„π°“√°√–µÿâπ‡»√…∞°‘®≈ß ‚¥¬√—∞∫“≈®–¡’°“√¢“¥¥ÿ≈ß∫ª√–¡“≥≈¥≈ß‡√◊ËÕ¬Ê

·≈–®–‡¢â“ Ÿà°“√ ¡¥ÿ≈∑“ß°“√§≈—ß¿“¬„πÕ’° 5 ªï¢â“ßÀπâ“‡æ◊ËÕ°àÕ„Àâ‡°‘¥°“√∫√‘À“√°“√§≈—ß∑’Ë¬—Ëß¬◊π √«¡∑—Èß

∫Ÿ√≥“°“√°—∫π‚¬∫“¬‡»√…∞°‘®¡À¿“§ ‚¥¬Õ“»—¬¡“µ√°“√∑—Èß¥â“π√“¬‰¥â·≈–√“¬®à“¬Õ¬à“ß‡ªìπ√Ÿª∏√√¡

„π°“√ π—∫ πÿπ„Àâ√—∞∫“≈≈¥°“√¢“¥¥ÿ≈ß∫ª√–¡“≥≈ß‡√◊ËÕ¬Ê ·≈–∫√√≈ÿ‡ªÑ“À¡“¬„π°“√°â“«‡¢â“ Ÿà ¡¥ÿ≈

°“√§≈—ß¿“¬„π 5 ªïµ“¡∑’Ëµ—Èß‰«âπ—Èπ ®–µâÕß¡’°“√°”Àπ¥·π«∑“ß∑’Ë™—¥‡®π∑—Èß„π¥â“π√“¬‰¥â·≈–√“¬®à“¬ √«¡∑—Èß

µâÕß‰¥â√—∫§«“¡√à«¡¡◊Õ®“°À≈“¬Àπà«¬ß“π∑’Ë‡°’Ë¬«¢âÕß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–∂◊Õ‡ªìπÀπà«¬ß“πÀπ÷Ëß∑’Ë¡’

∫∑∫“∑ ”§—≠„π°“√¢—∫‡§≈◊ËÕππ‚¬∫“¬¥—ß°≈à“«´÷Ëß∑”Àπâ“∑’Ë°”°—∫¥Ÿ·≈°“√∫√‘À“√Àπ’È “∏“√≥–¢Õßª√–‡∑»„Àâ

‡ªìπ‰ªÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ ·≈–‡ √‘¡ √â“ß§«“¡¡—Ëπ§ß∑“ß°“√§≈—ß·≈–°“√æ—≤π“ª√–‡∑» ®÷ß‰¥â¡’°”Àπ¥

·π«∑“ß„π°“√‡æ‘Ë¡√“¬‰¥â·≈–≈¥√“¬®à“¬¢Õß√—∞∫“≈‡æ◊ËÕ°“√‡¢â“ Ÿà ¡¥ÿ≈∑“ß°“√§≈—ß ‚¥¬¡’°“√°”Àπ¥‡ªÑ“À¡“¬‰«â

2 ¥â“π¥â«¬°—π„π°“√‡æ‘Ë¡ª√– ‘∑∏‘¿“æ°“√∫√‘À“√‡ß‘π§ß§≈—ß·≈–Àπ’È “∏“√≥– ¥—ßπ’È

Àπ’È “∏“√≥–§ß§â“ß ≥ ‘Èπªïß∫ª√–¡“≥ 2539 - 2553

4,500

æ—π≈â“π∫“∑ % µàÕ GDP

4,000

3,000

2,500

2,000

1,500

1,000

500

0

3,500

70

60

50

30

10

0

20

40

656

1,672

2,253

2,8072,993

60.79 60.2655.82

3,0433,017 3,221 3,391 3,348

42.653,28538.51 3,408

37.534,00244.26 4,231

41.88

47.8049.6450.99

3,093

60.53

48.71

35.36

14.13

°.¬.

39

°.¬.

40

°.¬.

41

°.¬.

42

°.¬.

43

°.¬.

44

°.¬.

45

°.¬.

46

°.¬.

47

°.¬.

48

°.¬.

49

°.¬.

50

°.¬.

51

°.¬.

52

°.¬.

53

√—∞∫“≈°Ÿâ‚¥¬µ√ß √—∞«‘ “À°‘®∑’Ë‰¡à‡ªìπ ∂“∫—π°“√‡ß‘π √—∞«‘ “À°‘®∑’Ë‡ªìπ ∂“∫—π°“√‡ß‘π (√—∞§È”ª√–°—π) °Õß∑ÿπ‡æ◊ËÕ°“√øóôπøŸœ Àπà«¬ß“πÕ◊Ëπ¢Õß√—∞

√«¡ Àπ’ÈµàÕ GDP

97

1. °“√∫√‘À“√®—¥°“√√–¥—∫‡ß‘π§ß§≈—ß·≈–º≈µÕ∫·∑π‡ß‘π§ß§≈—ß ¡’‡ªÑ“À¡“¬„π°“√‡æ‘Ë¡√“¬‰¥â·≈–

≈¥√“¬®à“¬ ´÷Ëß‚¥¬ª°µ‘‡ß‘π§ß§≈—ßΩ“°‰«â°—∫∏π“§“√·Ààßª√–‡∑»‰∑¬‰¡à¡’º≈µÕ∫·∑π ¥—ßπ—Èπ ®÷ß¡’·π«∑“ß„π

°“√π”‡ß‘π§ß§≈—ß‰ª∫√‘À“√®—¥°“√„Àâ‡°‘¥ª√–‚¬™πå‡æ◊ËÕ‡æ‘Ë¡√“¬‰¥â„Àâ·°à√—∞∫“≈ √«¡∑—Èß®–¡’°“√§«∫§ÿ¡√–¥—∫‡ß‘π

§ß§≈—ß„ÀâÕ¬Ÿà„π√–¥—∫∑’Ë‡À¡“– ¡ “¡“√∂√Õß√—∫°“√„™â®à“¬¢Õß√—∞∫“≈‡æ◊ËÕ≈¥µâπ∑ÿπ°“√°Ÿâ‡ß‘π ´÷Ëß®–‡ªìπ°“√

≈¥√“¬®à“¬·≈–¿“√–Àπ’È¢Õß√—∞∫“≈‰¥âÕ’°∑“ßÀπ÷Ëß¥â«¬ ∑—Èßπ’È ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–‰¥â¡’·π«∑“ß

°“√¥”‡π‘π°“√∑’Ë°”Àπ¥‰«â ‰¥â·°à °“√π”‡ß‘π§ß§≈—ßΩ“°‰«â°—∫∏π“§“√·Ààßª√–‡∑»‰∑¬‚¥¬¡’º≈µÕ∫·∑π

Ω“°‰«â°—∫∏π“§“√æ“≥‘™¬å π”‰ª≈ß∑ÿπ„π Reverse Repo ·≈–Ω“°‰«â∑’Ë∏π“§“√·Ààßª√–‡∑»‰∑¬ºà“π°Õß∑ÿπ¢Õß

°√–∑√«ß°“√§≈—ß Õ¬à“ß‰√°Á¥’·π«∑“ßµà“ßÊ ¥—ß°≈à“«∑’Ë°≈à“«¢â“ßµâπ¡’¢âÕ¥’·≈–¢âÕ‡ ’¬´÷Ëß®”‡ªìπµâÕß¡’°“√

æ‘®“√≥“°“√¥”‡π‘π°“√Õ¬à“ß√Õ∫§Õ∫ √«¡∑—Èß°“√æ‘®“√≥“„πª√–‡¥Áπ¢âÕ°ÆÀ¡“¬µà“ßÊ ∑’Ë‡°’Ë¬«¢âÕß ‡æ◊ËÕ„Àâ

“¡“√∂¥”‡π‘π°“√‰¥âÕ¬à“ß‡À¡“– ¡ ·≈–¡’ª√– ‘∑∏‘¿“æ Ÿß ÿ¥

96

2. °“√∫√‘À“√®—¥°“√Àπ’È∑’Ë√—∞∫“≈„Àâ§«“¡™à«¬‡À≈◊Õ°Õß∑ÿπ‡æ◊ËÕ°“√øóôπøŸ·≈–æ—≤π“√–∫∫ ∂“∫—π°“√‡ß‘π

(FIDF)2 ¡’‡ªÑ“À¡“¬„π°“√≈¥√–¥—∫Àπ’È “∏“√≥–·≈–¿“√–Àπ’È¢Õß√—∞∫“≈ ´÷ËßÀπ’È∑’Ë√—∞∫“≈°Ÿâ‡ß‘π‡æ◊ËÕ™¥„™â

§«“¡‡ ’¬À“¬„Àâ°—∫°Õß∑ÿπ FIDF ≥ ‘Èπªïß∫ª√–¡“≥ 2553 ¡’¬Õ¥§ß§â“ß 1,126,523 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 27

¢ÕßÀπ’È “∏“√≥–∑—ÈßÀ¡¥ ·≈–§‘¥‡ªìπ√âÕ¬≈– 11 ¢Õß GDP ‚¥¬∑’Ëºà“π¡“°“√™”√–§◊πµâπ‡ß‘π°Ÿâ¡’ —¥ à«π∑’ËπâÕ¬¡“°

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π—∫®“°«—π∑’Ëª√–°“»º≈œ)

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∫√‘À“√√“™°“√·ºàπ¥‘π

(4) ‚§√ß°“√À√◊Õ·ºπß“π π—∫ πÿπ ‘π‡™◊ËÕ¢Õß ∂“∫—π°“√‡ß‘π¿“§√—∞µ“¡π‚¬∫“¬¢Õß√—∞∫“≈ ´÷Ëß

§≥–√—∞¡πµ√’¡’¡µ‘„Àâ ∂“∫—π°“√‡ß‘π¿“§√—∞‡ªìπºŸâ√—∫º‘¥™Õ∫·≈–¥”‡π‘π°“√

ë º≈¢Õß°“√®—¥Õ—π¥—∫§«“¡πà“‡™◊ËÕ∂◊Õ ·≈–°“√‡√’¬°‡°Á∫§à“∏√√¡‡π’¬¡œ¬°√–¥—∫√—∞«‘ “À°‘®¥â«¬ Credit Scoring

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°√–∑”µ√“∫‡∑à“∑’Ë‡ß‘π°Ÿâ¥—ß°≈à“«¬—ß¡’¬Õ¥‡ß‘π°Ÿâ§ß§â“ßÕ¬Ÿà ‚¥¬¥”‡π‘π°“√∑ÿ°ªï‡æ◊ËÕ„™âª√–°Õ∫°“√æ‘®“√≥“‡√’¬°

‡°Á∫§à“∏√√¡‡π’¬¡°“√§È”ª√–°—π·≈–„Àâ°ŸâµàÕ ‡æ◊ËÕ‡ªìπ°“√ª√–°—π§«“¡‡ ’Ë¬ß∑’Ë‡°‘¥®“°°“√§È”ª√–°—π·≈–„Àâ°ŸâµàÕ

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∑’Ë‡æ‘Ë¡¢÷Èπ ´÷Ëß®–π”‰ª Ÿà°“√ √â“ß«‘π—¬∑“ß°“√‡ß‘π·°à√—∞«‘ “À°‘® æ√âÕ¡∑—Èß àß‡ √‘¡„Àâ‡°‘¥°“√æ—≤π“»—°¬¿“æ

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µπ‡Õß ‚¥¬‰¡àµâÕß°“√°“√§È”ª√–°—π®“°°√–∑√«ß°“√§≈—ß ´÷Ëß®–™à«¬≈¥¿“√–ºŸ°æ—π¢Õß√—∞∫“≈ ≈¥¿“√–Àπ’È∑’Ë

ºŸ°æ—π¢Õß°√–∑√«ß°“√§≈—ß∑’Ë®–‡°‘¥¢÷Èπ„πÕπ“§µ (Contingent Liability) ‰¥â„π√–¬–¬“« Õ—π®–π”‰ª Ÿà°“√

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104

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°√–∑√«ß°“√§≈—ß‰¥â‡√‘Ë¡¥”‡π‘π°“√‡√’¬°‡°Á∫§à“∏√√¡‡π’¬¡°“√§È”ª√–°—π ·≈–°“√„Àâ°ŸâµàÕ µ—Èß·µà«—π∑’Ë

°ÆÀ¡“¬œ ¡’º≈∫—ß§—∫„™â §◊Õµ—Èß·µà°√°Æ“§¡ 2551 ‚¥¬‰¥â¥”‡π‘π°“√‡√’¬°‡°Á∫§à“∏√√¡‡π’¬¡œ °—∫Àπà«¬ß“π´÷Ëß¡’

‡ß‘π°Ÿâ∑’Ë°√–∑√«ß°“√§≈—ß§È”ª√–°—π·≈–„Àâ°ŸâµàÕ √«¡ 16 ·Ààß ‚¥¬¡’√—∞«‘ “À°‘®·≈– ∂“∫—π°“√‡ß‘π¿“§√—∞√«¡

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∑’Ë‡°Á∫‰¥â ∫π. ‰¥â¥”‡π‘π°“√π” àß§≈—ß‡æ◊ËÕ‡ªìπ√“¬‰¥â·ºàπ¥‘πÀ≈—ß®“°‰¥â√—∫™”√–∑—π∑’

ë °â“«µàÕ‰ª·≈–∑‘»∑“ß°“√¥”‡π‘πß“π‡æ◊ËÕ„Àâ‡°‘¥§«“¡‡À¡“– ¡·≈–‡ªìπ∏√√¡°—∫Àπà«¬ß“π¿“§√—∞ ∫π. ‰¥â„Àâ§«“¡ ”§—≠µàÕ°“√ª√—∫ª√ÿß

·≈–æ—≤π“‡∑§π‘§°“√«‘‡§√“–Àåœ Õ¬ŸàÕ¬à“ßµàÕ‡π◊ËÕß ‚¥¬‰¥â∑”°“√»÷°…“®“° ∂“∫—π°“√‡ß‘π ·≈– ∂“∫—π

°“√®—¥Õ—π¥—∫‡§√¥‘µ∑—Èß„πª√–‡∑»·≈–µà“ßª√–‡∑» ‡æ◊ËÕæ—≤π“‡∑§π‘§°“√«‘‡§√“–Àå·≈–ª√–‡¡‘π§«“¡‡ ’Ë¬ß∑“ß

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‡À¡“– ¡·≈–‡ªìπ∏√√¡°—∫Àπà«¬ß“π¿“§√—∞¢Õß‰∑¬¡“°∑’Ë ÿ¥ ·≈– “¡“√∂ –∑âÕπ§«“¡‡ ’Ë¬ß·≈– Õ¥§≈âÕß

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¡“∂÷ßµ√ßπ’È∑à“πºŸâÕà“π§ß®–¡Õß‡ÀÁπ¿“æ¢Õß°“√®—¥Õ—π¥—∫§«“¡πà“‡™◊ËÕ∂◊Õ¢Õß ∫π. ‰¥â™—¥‡®π¢÷Èπ∫â“ß

”À√—∫√“¬≈–‡Õ’¬¥¢Õß§”®”°—¥§«“¡¢ÕßÕ—π¥—∫§«“¡πà“‡™◊ËÕ∂◊Õ·µà≈–√–¥—∫ À≈—°‡°≥±å «‘∏’°“√®—¥Õ—π¥—∫‡§√¥‘µ

∑à“π “¡“√∂À“¢âÕ¡Ÿ≈‡æ‘Ë¡‡µ‘¡‰¥â®“°‡«Á∫‰´µå¢Õß ∫π. (www.pdmo.go.th)

À√◊Õµ‘¥µàÕ Õ∫∂“¡¢âÕ¡Ÿ≈‡æ‘Ë¡‡µ‘¡‰¥â∑’Ë:

™π—π¿√≥å æ‘»‘…∞«“π‘™ ‚∑√ 0 2265 8050 µàÕ 5404 ([email protected])

ª«’≥“ ”‡√Á® ‚∑√ 0 2265 8050 µàÕ 5408 ([email protected])

ÿ∏“«√√≥ «√√≥ ÿ°„ ‚∑√ 0 2265 8050 µàÕ 5152 ([email protected])

107

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∑√—æ¬“°√∫ÿ§§≈ ª√–®”ªï 2553 ª√–‡¿∑√“ß«—≈™¡‡™¬¥â“π°“√æ—≤π“√–∫∫∫√‘À“√º≈°“√ªØ‘∫—µ‘ß“π (Performance

Management Systems : PMS) ‚¥¬ºà“π°“√§—¥‡≈◊Õ°·≈–µ—¥ ‘π®“° ”π—°ß“π °.æ. ·≈– ∂“∫—π‡æ‘Ë¡º≈º≈‘µ·Ààß™“µ‘

√–∫∫°“√∫√‘À“√º≈°“√ªØ‘∫—µ‘ß“π (Performance Management Systems : PMS) §◊Õ °“√∫√‘À“√·∫∫

∫Ÿ√≥“°“√∑’Ë¡ÿàß‡πâπº≈°“√ªØ‘∫—µ‘ß“π¢Õß∫ÿ§§≈„πÕß§å°√ ‡æ◊ËÕ„ÀâÕß§å°√∫√√≈ÿ‡ªÑ“À¡“¬∑’Ë‰¥â°”Àπ¥‰«â ‡°‘¥¢÷Èπ

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¢â“√“™°“√æ≈‡√◊Õπ ‚¥¬¡ÿàß„Àâ‡ÀÁπ§«“¡ ”§—≠¢Õß¢â“√“™°“√∑ÿ°√–¥—∫∑’Ë¡’µàÕ§«“¡ ”‡√Á®¢ÕßÕß§å°√ √–∫∫

¥—ß°≈à“«‡ªìπ‡§√◊ËÕß¡◊Õ„π°“√∫√‘À“√Õß§å°√∑’Ë„Àâ§«“¡ ”§—≠°—∫°√–∫«π°“√∑”ß“π‚¥¬ ¡∫Ÿ√≥å µ—Èß·µà‡√‘Ë¡ß“π

®π ”‡√Á® ¡‘„™à‡πâπ·§à‡√◊ËÕß°“√ª√–‡¡‘π‡∑à“π—Èπ ¥—ßπ—Èπ √–∫∫∫√‘À“√º≈°“√ªØ‘∫—µ‘ß“π∑’Ë ¡∫Ÿ√≥å®÷ß √â“ß‡ √‘¡

ª√– ‘∑∏‘¿“æª√– ‘∑∏‘º≈Õß§å°√·≈–‡°‘¥§«“¡ Õ¥§≈âÕß°—π„π∑ÿ°√–¥—∫‡ªÑ“À¡“¬¢ÕßÕß§å°√ ª√–°Õ∫¥â«¬

1. °“√«“ß·ºπ

2. °“√æ—≤π“

3. °“√µ‘¥µ“¡

4. °“√ª√–‡¡‘πº≈

5. °“√„Àâ√“ß«—≈

”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–π”√–∫∫∫√‘À“√º≈°“√ªØ‘∫—µ‘ß“π (Performance Management Systems : PMS)

¡“„™âµ—Èß·µà 1 µÿ≈“§¡ 2552 (ªïß∫ª√–¡“≥ æ.». 2553) µ“¡∑’Ë ”π—°ß“π °.æ. °”Àπ¥ ·µàºŸâªØ‘∫—µ‘ß“π¥â“π

∑√—æ¬“°√∫ÿ§§≈‰¥â√—∫§«“¡√Ÿâ §«“¡‡¢â“„®π‚¬∫“¬·≈–·π«∑“ß°“√¥”‡π‘πß“πµ—Èß·µàªïß∫ª√–¡“≥ æ.». 2552

‚¥¬ ”π—°ß“π °.æ. ‡ÀÁπ«à“√–∫∫¥—ß°≈à“«®–‡ª≈’Ë¬π·ª≈ß°“√¥”‡π‘πß“πª√–‡¡‘πº≈°“√ªØ‘∫—µ‘ß“π·∫∫‡¥‘¡

´÷ËßªØ‘∫—µ‘Õ¬Ÿà ¥—ßπ—Èπ ‡ÀÁπ§«√„Àâ‡®â“Àπâ“∑’ËºŸâªØ‘∫—µ‘ß“π¡’§«“¡√Ÿâ §«“¡‡¢â“„® ‡æ◊ËÕπ”‰ª ◊ËÕ “√·≈– √â“ß

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106

”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–‡≈Áß‡ÀÁπ§«“¡ ”§—≠¢Õß°“√π”√–∫∫∫√‘À“√º≈°“√ªØ‘∫—µ‘ß“π (Performance

Management Systems : PMS) ¡“„™â ‡π◊ËÕß®“°‡ªìπ‡√◊ËÕß∑’Ë‡°’Ë¬«¢âÕß°—∫º≈ª√–‚¬™πå¢Õß∫ÿ§≈“°√∑ÿ°§π ¥—ßπ—Èπ

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”§—≠„π°“√¢—∫‡§≈◊ËÕπ√–∫∫∫√‘À“√º≈°“√ªØ‘∫—µ‘ß“π (Performance Management Systems : PMS) ¢Õß

”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–„Àâ‡¥‘πÀπâ“‰ª‰¥âÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ Ÿß ÿ¥ ‚¥¬°”Àπ¥¥—ßπ’È

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√à«¡°—π ‡æ◊ËÕ¡’°“√«“ß·ºπ√à«¡°—π„π°“√°”Àπ¥‡ªÑ“À¡“¬∑’Ë®–ªØ‘∫—µ‘ß“π„Àâ ”‡√Á®≈ÿ≈à«ß ¿“¬„µâ¢âÕ°”Àπ¥π’È

ºŸâ∫—ß§—∫∫—≠™“·≈–ºŸâ„µâ∫—ß§—∫∫—≠™“¥”‡π‘π°“√«“ß·ºπ√à«¡°—π®√‘ß ºŸâ„µâ∫—ß§—∫∫—≠™“ ‰¥â·°à ¢â“√“™°“√

æπ—°ß“π√“™°“√ ·≈–≈Ÿ°®â“ß™—Ë«§√“«

2. °“√æ—≤π“ : °”Àπ¥„ÀâºŸâ∫—ß§—∫∫—≠™“¡’°“√ àß‡ √‘¡·≈– π—∫ πÿπºŸâ„µâ∫—ß§—∫∫—≠™“„π°“√æ—≤π“µπ‡Õß

„π∑ÿ°‡√◊ËÕß ‡√‘Ë¡µ—Èß·µà °“√·π–π” °“√„Àâ§”ª√÷°…“ °“√ Õπß“π °“√¡Õ∫À¡“¬ß“π °“√ àß„Àâ‰ªΩñ°Õ∫√¡

‡ªìπµâπ ∑—Èßπ’È ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–‰¥â°”Àπ¥µ—«™’È«—¥√–¥—∫∫ÿ§§≈„ÀâºŸâ∫—ß§—∫∫—≠™“∑ÿ°§π‡À¡◊Õπ°—π §◊Õ

√âÕ¬≈–§«“¡æ÷ßæÕ„®¢ÕßºŸâ„µâ∫—ß§—∫∫—≠™“„π°“√ Õπß“π¢ÕßÀ—«Àπâ“ß“π ‡ªìπµ—«§«∫§ÿ¡°“√ªØ‘∫—µ‘ß“π

„πª√–‡¥Áπ°“√æ—≤π“¢ÕßÀ—«Àπâ“ß“π¥â«¬

3. °“√µ‘¥µ“¡ : °”Àπ¥„ÀâºŸâ∫—ß§—∫∫—≠™“¡’°“√µ‘¥µ“¡°“√ªØ‘∫—µ‘ß“π¢ÕßºŸâ„µâ∫—ß§—∫∫—≠™“∑ÿ°§π ‡æ◊ËÕ„Àâ

°“√¥”‡π‘πß“π¡’ª√– ‘∑∏‘¿“æ Ÿß ÿ¥ ·≈–¡’ªí≠À“πâÕ¬∑’Ë ÿ¥ ¿“¬„µâ¢âÕ°”Àπ¥π’È ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

°”Àπ¥„ÀâºŸâ∫—ß§—∫∫—≠™“¡’·∫∫ª√–‡¡‘π°“√µ‘¥µ“¡°“√ªØ‘∫—µ‘ß“π¢ÕßºŸâ„µâ∫—ß§—∫∫—≠™“‡ªìπ√–¬–Ê

4. °“√ª√–‡¡‘πº≈ : °”Àπ¥„ÀâºŸâ∫—ß§—∫∫—≠™“ª√–‡¡‘πº≈°“√ªØ‘∫—µ‘ß“π¢ÕßºŸâ„µâ∫—ß§—∫∫—≠™“µ“¡·∫∫

ª√–‡¡‘π∑’Ë°”Àπ¥ ‚¥¬µâÕß¡’À≈—°∞“π„π°“√„Àâ§–·ππµ“¡µ—«™’È«—¥√–¥—∫∫ÿ§§≈¢Õß∑ÿ°§π ·≈–µâÕß¡’À≈—°∞“π„π

°“√ª√–‡¡‘π ¡√√∂π–∑’Ë∂Ÿ°µâÕß™—¥‡®π ¿“¬„µâ¢âÕ°”Àπ¥π’È ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–‚¥¬§≥–°√√¡°“√

°≈—Ëπ°√Õßº≈°“√ªØ‘∫—µ‘ß“π¢Õß ”π—°ß“π ´÷Ëß‡ªìπºŸâ∫√‘À“√√–¥—∫ Ÿßª√–°“»À≈—°‡°≥±å¥”‡π‘π°“√ª√–‡¡‘πº≈

°“√ªØ‘∫—µ‘ß“πª√–°“»„Àâ∫ÿ§≈“°√∑√“∫·≈–∂◊ÕªØ‘∫—µ‘‚¥¬∑—Ë«°—π æ√âÕ¡∑—Èß§≥–°√√¡°“√°≈—Ëπ°√Õß¥—ß°≈à“«‡ªìπ

ºŸâæ‘®“√≥“µ—«™’È«—¥√–¥—∫∫ÿ§§≈¢Õß∫ÿ§≈“°√∑ÿ°§π ‡æ◊ËÕ§«“¡‚ª√àß„ ·≈–‡ ¡Õ¿“§¢Õß∑ÿ°µ—«™’È«—¥

109

5. °“√„Àâ√“ß«—≈ : °”Àπ¥„ÀâºŸâ∫—ß§—∫∫—≠™“µâÕßæ‘®“√≥“„Àâ√“ß«—≈·°àºŸâ„µâ∫—ß§—∫∫—≠™“¥â«¬§«“¡‡ªìπ∏√√¡

µ“¡º≈°“√ªØ‘∫—µ‘ß“π·≈–À≈—°∞“π∑’Ëª√“°Ø®√‘ß ¿“¬„µâ¢âÕ°”Àπ¥π’È ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–®—¥ √√«ß‡ß‘π

à«πÀπ÷Ëß ”À√—∫°“√‡≈◊ËÕπ‡ß‘π‡¥◊Õπ„π·µà≈–√Õ∫°“√ª√–‡¡‘π„ÀâºŸâÕ”π«¬°“√ ”π—° ºŸâÕ”π«¬°“√»Ÿπ¬å ·≈–

ºŸâÕ”π«¬°“√°≈ÿà¡ „π°“√æ‘®“√≥“„Àâ√“ß«—≈·°àºŸâ„µâ∫—ß§—∫∫—≠™“„π —ß°—¥µπ‡Õß ·≈–ºŸâ∫√‘À“√√–¥—∫ Ÿß°—π‡ß‘π‰«â

Õ’° à«πÀπ÷Ëß„π°“√æ‘®“√≥“„Àâ√“ß«—≈‡æ‘Ë¡‡µ‘¡·°àºŸâ„µâ∫—ß§—∫∫—≠™“„π¡ÿ¡¡Õß¢ÕßºŸâ∫√‘À“√√–¥—∫ Ÿß

º≈°“√¥”‡π‘πß“π‡°’Ë¬«°—∫√–∫∫∫√‘À“√º≈°“√ªØ‘∫—µ‘ß“π (Performance Management Systems : PMS) ¢Õß

”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–‡ªìπ∑’Ëπà“æÕ„®Õ¬à“ß¡“° ‡π◊ËÕß®“°ºŸâ∫√‘À“√·≈–∫ÿ§≈“°√¢Õß ”π—°ß“π∫√‘À“√Àπ’È

“∏“√≥–„Àâ§«“¡ ”§—≠·≈–√à«¡°—π¥”‡π‘π°“√ ª√—∫ª√ÿß ‡ πÕ·π– ·≈–„Àâ§«“¡√à«¡¡◊Õ ‚¥¬®–‡ÀÁπ‰¥â«à“ „πªï

ß∫ª√–¡“≥ æ.». 2554 √–∫∫∫√‘À“√º≈°“√ªØ‘∫—µ‘ß“π (Performance Management Systems : PMS) ¢Õß

”π—°ß“π∫√‘À“√Àπ’È “∏“√≥– “¡“√∂¥”‡π‘π°“√‰ª‰¥âÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ·≈–¡’Õÿª √√§πâÕ¬¡“°

”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–‡ÀÁπ«à“ °“√¥”‡π‘π°“√¥â“π√–∫∫∫√‘À“√º≈°“√ªØ‘∫—µ‘ß“π (Performance

Management Systems : PMS) ¢Õß ”π—°ß“π¡’ª√– ‘∑∏‘¿“æ Ÿß ®÷ß àßº≈ß“π‡¢â“√—∫°“√§—¥‡≈◊Õ°‡ªìπÀπà«¬ß“π

·∫∫Õ¬à“ß§«“¡ ”‡√Á®„π°“√∫√‘À“√∑√—æ¬“°√∫ÿ§§≈ ª√–®”ªï 2553 „π¥â“π°“√æ—≤π“√–∫∫∫√‘À“√º≈°“√

ªØ‘∫—µ‘ß“π (Performance Management Systems : PMS) ´÷Ëß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–‰¥â√—∫°“√æ‘®“√≥“

®“°§≥–°√√¡°“√ ª√–°Õ∫¥â«¬ ”π—°ß“π °.æ. ·≈– ∂“∫—π‡æ‘Ë¡º≈º≈‘µ·Ààß™“µ‘ „Àâ‡¢â“‰ªπ”‡ πÕº≈ß“π

„π√Õ∫·√° ·≈–¡’°“√‡¢â“µ√«®‡¬’Ë¬¡‡æ◊ËÕ Õ∫∂“¡¢âÕ¡Ÿ≈‡æ‘Ë¡‡µ‘¡®“°§≥–°√√¡°“√„π√Õ∫∑’Ë Õß¥â«¬·≈â«

‚¥¬„π™—Èππ’È Õ¬Ÿà√–À«à“ß°“√æ‘®“√≥“µ—¥ ‘π√Õ∫ ÿ¥∑â“¬®“°§≥–°√√¡°“√ºŸâ∑√ß§ÿ≥«ÿ≤‘

108


¢âÕ¡Ÿ≈Àπ’È “∏“√≥–¢Õß ”π—°ß“π∫√‘À“√Àπ’È “∏“√≥–

111¢âÕ¡Ÿ≈Àπ’È “∏“√≥–

√“¬ß“πÀπ’È “∏“√≥–§ß§â“ß ≥ «—π∑’Ë 30 °—π¬“¬π 2553

≥ «—π∑’Ë 30 °—π¬“¬π 2553 Àπ’È “∏“√≥–§ß§â“ß¡’®”π«π∑—Èß ‘Èπ 4,230,745 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 42.3

¢Õß GDP (‚¥¬ªï°àÕπÀπâ“Àπ’È “∏“√≥–§ß§â“ß¡’®”π«π∑—Èß ‘Èπ 4,001,942 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 45.55 ¢Õß GDP)

‚¥¬ —¥ à«πÀπ’È “∏“√≥–§ß§â“ß ≥ ‘Èπªïß∫ª√–¡“≥¥—ß°≈à“«ª√–°Õ∫¥â«¬Àπ’È∑’Ë√—∞∫“≈°Ÿâ‚¥¬µ√ß 2,907,482

≈â“π∫“∑ À√◊Õ√âÕ¬≈– 69 ¢ÕßÀπ’È “∏“√≥–§ß§â“ß Àπ’È√—∞«‘ “À°‘®∑’Ë‰¡à‡ªìπ ∂“∫—π°“√‡ß‘π (SOEs) 1,083,983 ≈â“π∫“∑

À√◊Õ√âÕ¬≈– 26 ¢ÕßÀπ’È “∏“√≥–§ß§â“ß Àπ’È√—∞«‘ “À°‘®∑’Ë‡ªìπ ∂“∫—π°“√‡ß‘π (√—∞∫“≈§È”ª√–°—π) (SFIs) 177,179

≈â“π∫“∑ À√◊Õ√âÕ¬≈– 4 ¢ÕßÀπ’È “∏“√≥–§ß§â“ß ·≈–Àπ’È°Õß∑ÿπøóôπøŸ·≈–æ—≤π“√–∫∫ ∂“∫—π°“√‡ß‘π (FIDF) 62,100

≈â“π∫“∑ À√◊Õ√âÕ¬≈– 1 ¢ÕßÀπ’È “∏“√≥–§ß§â“ß

√“¬°“√ «ß‡ß‘π (≈â“π∫“∑) %

Àπ’È∑’Ë√—∞∫“≈°Ÿâ‚¥¬µ√ß 2,907,482 69%

- Àπ’È„πª√–‡∑» 2,853,295 67%

- Àπ’Èµà“ßª√–‡∑» 54,188 1%

Àπ’È√—∞«‘ “À°‘®∑’Ë‰¡à‡ªìπ ∂“∫—π°“√‡ß‘π 1,083,983 26%

Àπ’È√—∞«‘ “À°‘®∑’Ë‡ªìπ ∂“∫—π°“√‡ß‘π (√—∞∫“≈§È”ª√–°—π) 177,179 4%

Àπ’È°Õß∑ÿπøóôπøŸ·≈–æ—≤π“√–∫∫ ∂“∫—π°“√‡ß‘π 62,100 1%

√«¡∑—Èß ‘Èπ 4,230,745 100%

—¥ à«πÀπ’È “∏“√≥–

Àπ’È “∏“√≥– ≥ «—π∑’Ë 30 °—π¬“¬π 2553 ·∫àß‡ªìπÀπ’È„πª√–‡∑»√âÕ¬≈– 91 ·≈–Àπ’Èµà“ßª√–‡∑»√âÕ¬≈– 9

´÷Ëß —¥ à«πÀπ’È„πª√–‡∑»¡’°“√‡æ‘Ë¡¢÷Èπ®“°ªï∑’Ë·≈â« ‡π◊ËÕß®“° ∫π. ¡’π‚¬∫“¬°“√√–¥¡∑ÿπ®“°„πª√–‡∑»

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‰¥âµ“¡§«“¡µâÕß°“√°Ÿâ‡ß‘π §«∫§Ÿà‰ª°—∫°“√∫√‘À“√Àπ’Èµà“ßª√–‡∑»‡æ◊ËÕ≈¥§«“¡‡ ’Ë¬ß®“°Õ—µ√“·≈°‡ª≈’Ë¬π

110

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∑’Ë¡’Õ¬Ÿà¡“°·≈–‡æ◊ËÕ‡ªìπ°“√æ—≤π“µ≈“¥µ√“ “√Àπ’È¿“¬„πª√–‡∑» ‚¥¬„πªïß∫ª√–¡“≥ æ.». 2553 ∫π.

√–¥¡∑ÿπºà“π°“√ÕÕ°æ—π∏∫—µ√√—∞∫“≈‡ªìπ‡§√◊ËÕß¡◊ÕÀ≈—° ´÷Ëß§‘¥‡ªìπ√âÕ¬≈– 69 ¢Õß§«“¡µâÕß°“√√–¥¡∑ÿπ„π

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°“√°√–®ÿ°µ—«¢ÕßÀπ’È

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√“¬°“√ ∂“π– ∂“π–

≥ «—π∑’Ë 30 °—π¬“¬π 2552 ≥ «—π∑’Ë 30 °—π¬“¬π 2553

Àπ’È “∏“√≥–§ß§â“ß (≈â“π∫“∑) 4,001,942 4,230,745

Àπ’È„πª√–‡∑» : Àπ’Èµà“ßª√–‡∑» 90 : 10 91 : 9

—¥ à«πÀπ’È °ÿ≈‡ß‘πµà“ßª√–‡∑» 65 : 19 : 16 63 : 18 : 19

(YEN:USD:EUR)

Àπ’È√–¬– —Èπ* : Àπ’È√–¬–¬“« 6 : 94 5 : 95

Õ“¬ÿ‡©≈’Ë¬¢ÕßÀπ’È§ß§â“ß (ATM) (ªï) 5.49 5.35

Àπ’ÈÕ—µ√“¥Õ°‡∫’È¬§ß∑’Ë : Àπ’ÈÕ—µ√“¥Õ°‡∫’È¬ 89 : 11 82 : 18

≈Õ¬µ—«

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113112Àπ’Èµà“ßª√–‡∑»

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§«“¡‡ ’Ë¬ßÀπ’Èµà“ßª√–‡∑»¢Õß√—∞∫“≈≈ß„Àâ‡À≈◊Õ»Ÿπ¬å ‚¥¬°“√∫√‘À“√Àπ’Èµà“ßª√–‡∑»¥â«¬«‘∏’°“√™”√–§◊πÀπ’È

°àÕπ§√∫°”Àπ¥ (Prepayment) °“√°Ÿâ‡ß‘π¥â«¬‡ß◊ËÕπ‰¢„À¡à‡æ◊ËÕ™”√–Àπ’È‡¥‘¡ (Refinance) ·≈–°“√ªÑÕß°—π§«“¡‡ ’Ë¬ß

(Hedging) ÷Ëßªí®®ÿ∫—π√—∞∫“≈¡’ —¥ à«πÀπ’Èµà“ßª√–‡∑»‡À≈◊Õ‡æ’¬ß 2% ¢ÕßÀπ’È√—∞∫“≈∑—ÈßÀ¡¥ ‚¥¬ —¥ à«π¥—ß°≈à“«π—Èπ

∫π. ‰¥âªî¥§«“¡‡ ’Ë¬ß‚¥¬°“√ Swap ‰ª·≈â« 40 % πÕ°®“°π’È ∫π. ¬—ß´◊ÈÕ‡ß‘πµà“ßª√–‡∑»‰«â·≈â«Õ’° 18%

·≈–Ω“°∫—≠™’∏π“§“√‡æ◊ËÕ‡µ√’¬¡™”√–Àπ’Èµà“ßª√–‡∑»∑’Ë®–§√∫°”Àπ¥„πªï 54 ´÷Ëß°“√¥”‡π‘π°“√¥—ß°≈à“« àßº≈

„Àâ√—∞∫“≈¡’§«“¡‡ ’Ë¬ßµàÕ§«“¡º—πº«π °ÿ≈‡ß‘πµà“ßª√–‡∑»‡À≈◊ÕÕ’° 42 % ¢ÕßÀπ’Èµà“ßª√–‡∑»¢Õß√—∞∫“≈ ÷Ëß ∫π.

®–‡ πÕ·π«∑“ß°“√∫√‘À“√§«“¡‡ ’Ë¬ßÀπ’Èµà“ßª√–‡∑»∑’Ë‡À≈◊Õ¥—ß°≈à“«„π™à«ß‡«≈“∑’Ë‡À¡“– ¡µàÕ‰ª

FCD 18%

Hedge40%

Unhedge42%

Àπ’Èµà“ßª√–‡∑»¢Õß√—∞∫“≈

2%

35%

3,000,000 50%

25%

0%

≈â“π∫“∑

2,500,000

1,500,000

1,000,000

2543 2544 2545 2546 2547 2548 2549 2550 2551 2552 2553

500,000

0

2,000,000

14%

2%

Àπ’È„πª√–‡∑»¢Õß√—∞∫“≈ Àπ’Èµà“ßª√–‡∑»¢Õß√—∞∫“≈ —¥ à«πÀπ’Èµà“ßª√–‡∑»µàÕÀπ’È√—∞∫“≈∑—ÈßÀ¡¥

°.¬. 2552 √âÕ¬≈– °.¬. 2553 √âÕ¬≈– ‡æ‘Ë¡/(≈¥)

¢Õß GDP ¢Õß GDP

(1) (2) (3) (4) (3)-(1)

1. Àπ’È∑’Ë√—∞∫“≈°Ÿâ‚¥¬µ√ß (1.1 + 1.2) 2,586,513.18 29.44 2,907,482.31 29.07 320,969.13

1.1 Àπ’Èµà“ßª√–‡∑» 62,997.73 54,187.63 (8,810.10)

(≈â“π‡À√’¬≠ À√—∞œ) (1,879.96) (1,784.44) (95.52)

1.2 Àπ’È„πª√–‡∑» 2,523,515.45 2,853,294.68 329,779.23

- ‡ß‘π°Ÿâ™¥‡™¬°“√¢“¥¥ÿ≈ß∫ª√–¡“≥ ·≈– 1,288,003.03 1,437,773.44 149,770.41

°“√∫√‘À“√Àπ’È

- æ—π∏∫—µ√ 906,437.51 1,251,247.92 344,810.41

- µ—Î« —≠≠“„™â‡ß‘π 100,565.52 32,525.52 (68,040.00)

- ‡ß‘π°Ÿâ√–¬– —Èπ 0.00 0.00 -

- ‡ß‘π°Ÿâ™¥‡™¬§«“¡‡ ’¬À“¬„Àâ·°à°Õß∑ÿπ 1,136,803.42 1,126,523.24 (10,280.18)

‡æ◊ËÕ°“√øóôπøŸœ

- FIDF 1 463275.20 463275.20 -

- FIDF 3 673,528.22 663,248.04 (10,280.18)

- ‡ß‘π°Ÿâµ“¡‚§√ß°“√™à«¬‡æ‘Ë¡‡ß‘π°Õß∑ÿπ¢—Èπ∑’Ë 1 33,709.00 2,998.00 (30,711.00)

·≈– 2

- ‡ß‘π°Ÿâ‡æ◊ËÕøóôπøŸ·≈–‡ √‘¡ √â“ß§«“¡¡—Ëπ§ß 65,000.00 286,000.00 221,000.00

∑“ß‡»√…∞°‘®

2. Àπ’È√—∞«‘ “À°‘®∑’Ë‰¡à‡ªìπ ∂“∫—π°“√‡ß‘π (2.1 + 2.2) 1,108,580.32 12.62 1,083,982.57 10.84 (24,597.75)

2.1 Àπ’È∑’Ë√—∞∫“≈§È”ª√–°—π 559,473.85 534,686.21 (24,787.64)

- Àπ’Èµà“ßª√–‡∑» 175,543.56 161,343.22 (14,200.34)

(≈â“π‡À√’¬≠ À√—∞œ) (5,238.51) (5,313.15) 74.63

- Àπ’È„πª√–‡∑» 411,748.63 409,154.63 (2,594.00)

3. Àπ’È√—∞«‘ “À°‘®∑’Ë‡ªìπ ∂“∫—π°“√‡ß‘π (√—∞∫“≈§È”ª√–°—π) 208,702.02 2.38 177,179.43 1.77 (31,522.59)

- Àπ’Èµà“ßª√–‡∑» 8,477.55 6,851.64 (1,625.91)

(≈â“π‡À√’¬≠ À√—∞œ) (252.98) (225.63) (27.35)

- Àπ’È„πª√–‡∑» 200,224.47 170,327.79 (29,896.68)

4. Àπ’È°Õß∑ÿπ‡æ◊ËÕ°“√øóôπøŸ (4.1 + 4.2) 98,146.48 1.12 62,100.43 0.62 (36,046.05)

4.1 Àπ’È∑’Ë√—∞∫“≈§È”ª√–°—π 73,794.60 30,445.18 (43,349.42)

4.2 Àπ’È∑’Ë√—∞∫“≈‰¡à§È”ª√–°—π 24,351.88 31,655.25 7,303.37

5. Àπ’ÈÀπà«¬ß“πÕ◊Ëπ¢Õß√—∞ (5.1 + 5.2) - 0.00 - 0.00 -

5.1 Àπ’È∑’Ë√—∞∫“≈§È”ª√–°—π - - -

5.2 Àπ’È∑’Ë√—∞∫“≈‰¡à§È”ª√–°—π - - -

√«¡ (1 + 2 + 3 + 4 + 5) 4,001,942.00 45.55 4,230,744.74 42.30 228,802.74

Õ—µ√“·≈°‡ª≈’Ë¬π∫“∑µàÕ‡À√’¬≠ À√—∞œ 31.2531 30.3668

(≥ «—π∑”°“√ ÿ¥∑â“¬¢Õß‡¥◊Õπ)

ª√–¡“≥°“√ GDP 8,786,290.00 10,000,900.00

Àπ’È “∏“√≥–§ß§â“ß ≥ «—π∑’Ë 30 °—π¬“¬π 2552 ·≈– ≥ «—π∑’Ë 30 °—π¬“¬π 2553

115


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116

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