Thaksin To Be Probed Over Exim Bank Loan To Burma

[sriracha john]

Thaksin, ministers face probe over Exim bank loan to Burma

A sub-panel of the Assets Examination Committee will today recommend that an investigative panel be set up to probe deposed prime minister Thaksin Shinawatra and others in connection with a Bt4 billion loan to the Export-Import Bank of Thailand.

Viroj Laohapan, chair of the sub-panel, will suggest the AEC investigate an allegation that the bank increased the amount of the loan from Bt3 billion to Bt4 billion to favour companies closely linked with the Thaksin government.

Thaksin would be investigated to determine whether he violated articles 152 and 157 of the Criminal Law for malfeasance in exploiting his position for personal gain.

A source said the investigative panel would determine whether Thaksin's cabinet members knew whether companies under Shin Corp would favour Shin Satellite, which was then partly owned by Thaksin's family. Following Thaksin's official visit to Burma, the country chose Shin Satellite to be a major supplier to its Bt600-million broadband satellite telecommunications project.

The AEC will be ask to decide whether to charge former foreign minister Surakiart Sathirathai, a key member of Thaksin Shinawatra's Thai Rak Thai Party and EXIM Bank President Staporn Jinachitra for their involvement in the loan disbursement.

Surakiart allegedly called a meeting of officials that decided to reduce the interest rate from the previously agreed 4.5 per cent to 3 per cent. The loan conditions disadvantaged the bank and opened the way for possible losses.

Early this month, Surakiart told the AEC that he had expressed objection to the plan because the money was going to the Burmese for the lease of satellite transmission signals from the iPSTAR satellite, which was owned by the Shinawatra family.

- The Nation

[sriracha john]

Former foreign minister Surakiart Sathirathai testified before the AEC for more than two hours yesterday about the Export-Import Bank of Thailand's Bt4-billion loan to Burma.

Surakiart testified that he did not agree with the move to increase the loan from Bt3 billion to Bt4 billion, and gave his reasons why.

- The Nation