Commerce Discusses Develop Collateral Property Digital Data System for Eas Doing Business.
27-6-2019–Ministry of Commerce discussed with the property guarantee rights registration( Collateral) relevant public agencies to develop a system to link assets that are secured electronically, in order to facilitate the people and business operators to search for collateral registration at one place, making it transparent and able to quickly check the property information that is registered as collateral for debt repayment.
The develope systems is expected to start using aound October 2019.
The collateral relevant agencies are namely; OPDC, DGA, FPO, DBD, MD, DOPA, DIW and DLT
1) OPDC : Office of Public Sector Development Division (Public Organization)
(https://www.opdc.go.th/?lang=en)
2) DGA: Digital Government Development Agency (PublicOrganization)
https://www.dga.or.th/en/contact/
3) FPO: Fisical Policy Office,
Ministry of Finance.
http://www.fpo.go.th/main
4) DBD: Department of Business Development, Ministry of Commerce.
https://www.dbd.go.th/index.php
5) MD: Marine Department,
Ministry of Transport.
https://www.md.go.th/md/index.php/component/k2/item/893?rss_id=11570
6) DOPA: Department of Provincial Administration,
Ministry of Interior.
https://www.dopa.go.th/main/web_index
7)DIW:Department of Industrial Works,
Ministry of Industry.
http://www.diw.go.th/hawk/
8) DLT: Department of Land Transport,
Ministry of Transport.
https://www.dlt.go.th/th/
Mr. Wuttikrai Leewiraphun, Director-General of the Department of Business Development, Ministry of Commerce said “recently, the Department of Business Development has invited
the the collateral rights registered
relevant agencies to join the discussion to have the registered collateral data digital link systems improved for easier and more convenient inspection for doing business.”
“At present, the Department of Business Development has an e-secured registration system for storing property information that has been used as collateral for repayment, providing a system for people to search for such property information such as property type information, property registration, date of the business registration, collateral contract, property obligation status which the complete and updated
information are ready to link data with other rights registration agencies.”
By the discussion, there are three(3) agencies that are ready to be instantly connect the information, namely ; the Department of Business Development, Marine Department and the Department of Industrial Works through a central data link system developed by the Digital Government Development Agency (Public Organization), according to Mr Wuttikrai.
The Department of Land Transport and the Department of Local Administration is now in the process of developing a complete and updated database system, which will be able to link the data in the next phase, to be able to open this service around October 2019 “
“Hopes it will contribute to Thailand’s Ease of Doing Business of the World Bank improved scores and good for the country’s ranking in the Doing Business report of the World Bank as well.”
Currently Thailand has been ranked at the 27th ranking from 190 countries around the world and ranked 44 in Was of Doing Business”Director-General concluded.
The asset and property registered for callateral through each agency are such as ;
1) Department of Business Development , collect information of all types of property which is a business guarantee .
2) Marine Department, collect Marine registered data.
3) Department of Industrial Works, collect machinery registered data.
4) Department of Land Transport, collect car registered data.
5) Department of Provincial Administration, collecting registered lives vehicle data (elephant, horse, cattle, buffalo, lure, donkey) , etc
At present, the statistics of registration of business security contracts (as of 4 July 2016 – 20 June 2019), there are 408,708 business collateral contracts
requested to register. The maximum amount used as collateral is 6,662,131 million baht.
Valuable assets are the most used as collateral, accounted for 78.07 percent (worth 5,201,390 million baht),followed by movable property used in business operations, namely; inventories, raw materials, machinery, cars, ships, airplanes, vehicles and vehicles, representing 21.88 percent (valued at 1,458,124 million baht).
Intellectual property accounted for 0.03 percent (worth 1,975 million baht),
Business enterprise representing 0.01 percent (worth 375 million baht).
Real estate used in business operations representing 0.002 percent (worth 138 million baht) and perennials plant representing 0.002 percent (worth 129 million baht)
