Resulting from economic crisis, the Government's policy is to cure and enhance the national economic growth through share listing of Thailand. MWA is considered to be one of those potential State Enterprises that is ready to be reformed.

     The main objectives of the Government apart from improving Stata Enterprises' efficiency and effectiveness is fund raising from capital market by mean of an Initail Public Offerings (IPOs) that public can participate in ownership.

     This will reduce financial burden on government sources and be independent from foreign loans where water supply investment is needed.

     To get MWA prepared and ready from share listing on the stock Exchange of Thailand , the advisors earn of Siam Commercial Bank Securities (SCBS) is hired to help preparing for MWA corporatization.

     The corporatization of entire MWA under the State Enterprise Corporatization Act B.E.2542 has been approved by MWA's Board of Directors on February 26,2003. At an early state , Ministry of Finance (MOF) will own 100% share under the exesting business functions.

     Ministry of Interior and State Enterprise Capital Policy Committee (SECPC) has approved in principal concept on April 10,2003 and July 21,2003 respectly. after the approval of the cabinet on August 19,2003 Ministry of Interior (MOI) has been assigned to issue law and Regulations related to Waterworks Business. In this matter there must be a set up committee to work for company set up Committee.

     Apparently , the corporatization process is underway 8 meetings has been done for consideration of detail issues according to section 19 State Enterprise Capital Act. , Nevertheless , conslusion meeting will be held prior to propose for approval from State Enterprise Capital Policy Committee (SECPC) and the Cabinet afterwards.