Military coup in Thailand - you holding stocks / property?
-
in matters as such, the amount of blood shed is little compared to those in others. And at least there is a political reason driving this situation be it good or bad.Originally posted by Ito_^:not always no blood shed.. -
put it this way, this is the decision of the inner circle. we will never be in the inner circle and we will never know the truth of the matter or why inner circle made such a decision. However, from what I know of all the inner circles, the decisions made had always been for the self-preservaton, self-interest and usually at the cost of the others - be it public or otherwiseOriginally posted by Atobe:Your statement sound temptingly convincing, and I was inclined to take it at its face value.
However, on checking some available information in the public domain, it will be interesting to consider another point of view that should raise further concern to the S$3 Billion dollars spent - in a 'gungho manner' - on taking over of Shin Corp.
SingTel interest in Thailand is but only a small Representative Office called simply - SingTel Thailand - established in 1998 'to provide support to our business customers in Thailand'.
Temasek's independent actions in taking over the entire Shin Corp group had aroused only a minor interest in SingTel's statement of taking a small stake in the main income contributor to Shin Corp - Advance Info Services , which hold 55 per cent share of the Thai market, but with revenue on the decline.
With global mobile phone business claiming victims to even established players, forcing the early closure of unprofitable units, the writings were already on the wall before SingTel's announcement of a sharp fall in revenue for 2006. -
latest news
Thai finance minister says no longer in job
SINGAPORE - Thanong Bidaya, who served as Thailand's finance minister under the government of Thaksin Shinawatra, said on Wednesday he was no longer in the job after Thai armed forces seized power.
'I'm sorry I'm not in a position to say anything. I am not minister any more,' he told reporters.
'I have no more responsibilities,' he said, adding he was trying to arrange a flight back to Thailand after attending International Monetary Fund meetings in Singapore.
He said he had not been in contact with Mr Thaksin and he did not know his whereabouts. A senior Thai official said on Tuesday that Mr Thaksin was due to leave New York later in the day for an undisclosed location. -- REUTERS -
Opportunities in every crisis....the underlying economic infrastructure remains intact. When share prices have dropped to the bottom, it will be a good time for cheap pickings..
-
garment is so clever......
just heard frm mom that the singtel shares which she bought, WITHOUT CONSENT send a letter HELPING her to SELL and TRANSFER the share to CPF...
so clever to do the cover up of losses......
learn frm army sibo??? 
-
huh? SingTel sold her shares without consent? How is that possible?Originally posted by duotiga83:garment is so clever......
just heard frm mom that the singtel shares which she bought, WITHOUT CONSENT send a letter HELPING her to SELL and TRANSFER the share to CPF...
so clever to do the cover up of losses...... learn frm army sibo??? -
My mom give me see her CPF letter informing her aboutt he cutting of shares frm Singtel and credited it into the ordinary account.....clever hor???Originally posted by JLennon:huh? SingTel sold her shares without consent? How is that possible? -
I got a letter about the shares too.Originally posted by duotiga83:garment is so clever......
just heard frm mom that the singtel shares which she bought, WITHOUT CONSENT send a letter HELPING her to SELL and TRANSFER the share to CPF...
so clever to do the cover up of losses...... learn frm army sibo???
Something is not right but there is ZERO explanation about it and why it was done.
Its my money and I do not have control.. this is what sickens me. -
Sept. 21 (Bloomberg) -- Thai stocks fell to two-month lows before recovering in the first day of trading since a military coup ousted Prime Minister Thaksin Shinawatra.
Shares of Shin Corp., which owns Thailand's largest mobile-phone operator, fell 1.75 baht, or 5.7 percent, to 29.25. Thaksin's family sold its stake in the company to a group of investors led by Singapore's state-run Temasek Holdings in January.
Shin's Advanced Info Service Pcl unit, which is the country's biggest mobile-phone operator, lost 2.50 baht, or 2.7 percent, to 90.50. Shin Satellite Pcl, the country's only satellite operator, plunged 1.20 baht, or 13 percent, to 7.85. ITV Pcl, a television network operator controlled by Shin, tumbled 0.46 baht, or 13 percent, to 2.98.
===================================
Singaporeans can kiss another few billions of their hard earned money goodbye as a result of "investments" made by the "remarkable" family.... the progress payment payout was 2 over billions but losses from Shin Corp to date is already about about 1.5 times that. Don't forget also the Australian OPTUS investments and so on and so forth.
Just pay Singaporeans back their money and stop losing it to foreigners, I say. -
Originally posted by onceinabluemoon:
geez.. its not their 'own money' that they are losing anyway...the ppl at tamasek still get their fat pay checks watever the outcome..
Sept. 21 (Bloomberg) -- Thai stocks fell to two-month lows before recovering in the first day of trading since a military coup ousted Prime Minister Thaksin Shinawatra.
Shares of Shin Corp., which owns Thailand's largest mobile-phone operator, fell 1.75 baht, or 5.7 percent, to 29.25. Thaksin's family sold its stake in the company to a group of investors led by [b]Singapore's state-run Temasek Holdings in January.
Shin's Advanced Info Service Pcl unit, which is the country's biggest mobile-phone operator, lost 2.50 baht, or 2.7 percent, to 90.50. Shin Satellite Pcl, the country's only satellite operator, plunged 1.20 baht, or 13 percent, to 7.85. ITV Pcl, a television network operator controlled by Shin, tumbled 0.46 baht, or 13 percent, to 2.98.
===================================
Singaporeans can kiss another few billions of their hard earned money goodbye as a result of "investments" made by the "remarkable" family.... the progress payment payout was 2 over billions but losses from Shin Corp to date is already about about 1.5 times that. Don't forget also the Australian OPTUS investments and so on and so forth.
Just pay Singaporeans back their money and stop losing it to foreigners, I say.[/b] -
Congratulations, Thaksin, you've been had.Originally posted by onceinabluemoon:One litle known fact... the chief dictator here used to fly personally once a month to Thailand to teach Taksin about politics...
With your riches, you could have hired the three stooges for advice.
Look at you now. -
In a country where its Citizens are given free space to express themselves, can any ' arrogant and authoritarian ' leadership exist ?
Can any arrogant and authoritarian leadership survive in an environment where the Citizens are accepted to be supreme over the Political Executives or the Establisment created ? -
the coverup is that is all along been starting in May 2006 for the cutting of stocks OPERATION (which is stated in the letter)Originally posted by mistyblue:I got a letter about the shares too.
Something is not right but there is ZERO explanation about it and why it was done.
Its my money and I do not have control.. this is what sickens me. -
Thai coup - Singapore sees 'worst fallout'
Shin Corp deal may not be nullified, but investment may be cut if found to breach law, analysts say.
John Burton. Financial Times.
Sep 21, 2006
Singapore could suffer the most among countries in the region from the military coup against Thaksin Shinawatra, the Thai prime minister, who forged close ties with the city-state and sold his telecommunications group to Singapore's state investment company.
It was the $1.9bn sale of a 49 per cent in Shin Corp by Mr Thaksin's family to Temasek Holdings in January that triggered the political crisis that led to the coup after it was revealed the family paid no taxes on profits from the deal.
Mr Thaksin was seen by Singapore as its strongest supporter for closer economic integration of the Association of South-east Nations, which provoked talk of a Singapore-Bangkok axis within the group.
The ousted Thai leader also expressed admiration for Singapore's political system, telling Singapore officials that he wanted to model his Thai Rak Thai party on the long-ruling People's Action party.
Mr Thaksin decided to sell Shin Corp to Temasek to dispel allegations of conflicts of interest between his family's corporate holdings and his government duties as he prepared to stand for a third term as prime minister.
The deal turned out to be the most controversial conducted by Temasek since Ho Ching, the wife of Singapore's prime minister, became the group's chief executive in 2002 and launched an ambitious global acquisition strategy.
Public protests in Thailand over the deal have led to a nearly 40 per cent fall in Shin Corp's share price since then.
In April, Lee Hsien Loong, Ms Ho's husband, told parliament that "Temasek invested in Shin Corp because it saw value in the investment" but added it was not government policy "to second guess Temasek's risk assessments".
A former senior Singapore official, however, criticised Temasek's handling of the deal in light of Mr Thaksin's growing unpopularity at the time.
"Temasek did financial due diligence, but not political due diligence," he told the Financial Times. Temasek said it had considered all aspects in concluding the deal.
A Temasek-led consortium increased its stake to 96 per cent in Shin Corp under a mandatory offer, but the takeover has been investigated by Thai regulators over whether Temasek used proxy companies to avoid a 49 per cent ceiling on foreign ownership in strategic industries. Temasek said it fully complied with Thai law.
Michael Montesano, a Thai specialist at the National University of Singapore, believed it was unlikely a new government would nullify the Shin Corp deal.
But Temasek might have to reduce its stake if it was found in breach of foreign shareholding limits. Temasek said it was premature to comment on the coup's impact.
Most regional governments expressed concerns about the coup and called for a restoration of democracy in Thailand.
Indonesia's defence minister, Juwono Sudarsono, said the Thai coup illustrated one of the pressures facing south-east Asia's civilian democratic governments.
"If there's a lesson it is this: politicians and parliamentarians must get their act together and consolidate party building and deliver on performance," he said.
"Otherwise people turn to the military for decisiveness and stability."
In the Philippines, Gloria Macapagal Arroyo, the president who declared a brief state of emergency to crush an alleged coup attempt early this year, was keen to quell speculation the Thai coup might encourage the military to attempt a similar takeover.
Financial Times
now instead of learning from the PAP, Thaksin would have a thing or two to teach the PAP about coup which its founding member had just expressed some interest.