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Thai PBS to revise its investment regulation following CPF bonds fiasco

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Thai PBS to revise its investment regulation following CPF bonds fiasco

 

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The board of governors of Thai PBS has announced that it would set up a panel to revise Article 9 of the regulations governing financing, accounting and budgeting of the public broadcaster after the Council of State has reconfirmed the ruling of the Office of Auditor-General (OAG) that the article in question contravenes with the 2008 Thai PBS Act.

 

Thai PBS management led by director Krisda Ruang-areerat bought 193 million baht worth of Charoen Pokphand Foods Plc (CPF) bonds on Jan 20, 2017, citing Article 9 of the 2015 regulation on financing, accounting and budgeting which allows the public broadcaster to make use of its funding to make profits.

 

The share deal provoked public criticism against the then management, questioning the legitimacy of the deal and the objective of the public broadcaster, finally leading to the resignation of Mr Krisda.

 

Full story: http://englishnews.thaipbs.or.th/thai-pbs-revise-investment-regulation-following-cpf-bonds-fiasco/

 

 
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-- © Copyright Thai PBS 2017-11-18
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finally leading to the resignation of Mr Krisda.

Wow, that is a first that someone high up is held responsible for their actions.

Or was he maybe a Taksin supporter in which case he should be held responsible for anything from broken traffic lights to shifts in the weather pattern.

11 hours ago, rooster59 said:

Article 9 of the 2015 regulation on financing, accounting and budgeting which allows the public broadcaster to make use of its funding to make profits.

So were illegal profits realized and to what extent?

Might have been worth resigning when maybe a criminal charge should have been brought.

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