Venture by Northern Bangkok Water Supplier Dismays Shareholders.

Byline: Yuthana Praiwan

Aug. 3--Several shareholders of Pathum Thani Water Co have expressed concern about future business prospects and could look to sell their stakes.

The tap water supplier for northern Bangkok continues to have strong support from major shareholders -- UK-based Thames Water and construction giant Ch. Karnchang -- but several other partners have voiced discontent about performance.

As tap water was not their core business, these partners also felt dissatisfied with the company's performance, according to Pathum Thani Water general manager Suphon Chirapuntu.

Thames Water and Ch. Karnchang each hold a 28.5 percent stake in the company. Berli Jucker and Capital Rice hold 15 percent each, the Provincial Waterworks Authority (PWA) 5 percent , and Krung Thai Bank and Thai Military Bank 4 percent each.

The company was licensed by the PWA to produce and distribute 288,000 cubic metres per day of water for users in the Pathum Thani-Rangsit area through the state agency.

The PWA was committed to an initial offtake of 220,000 cubic metres per day, but the company could supply only half that amount, which had made shareholders unhappy, Mr Suphon said.