|Title:||Accounting and Financial Management System Reform of Thailand's Railway Sector|
|Dates:||March, 2013 - December, 2014|
|Partner:||HLB (Thailand) Ltd., Thailand PADECO Co., Ltd., Japan|
Prolonged underinvestment and poor governance has kept Thailand's railway system from keeping pace with market demand and economic growth. Operating and maintenance costs are higher than for other railways in the region, and service is poor. The ADB has a longstanding cooperation with the railway subsector in Thailand based on a series of ongoing and planned assistance projects. In order to reform an obsolete railway system, a fundamental prerequisite is to ensure a strong financial management and information system within State Railway of Thailand.
While much work has been undertaken in the past with respect to reorganising the SRT, such as the recently introduced business lines and the separation of some operations such as the Airport Rail Link, little attention had been given until now to developing financial tools to account for financial performance within the organisation. A modern and well functioning accounting and financial management system was therefore required to allow the reform process to be effectively delivered, reported and monitored.