Head of Songtaew Co-op Forced to Resign

by CityNews

 

 

CityNews – Due to a 40 million baht loss last year, the colourful Singhkham Nanti has been forced to resign from his position as the President of Nakhon Lanna Cooperative, better known as the songtaew co-op, a position he has held since 1999, though he has sat on the committee since 1993.

 

The Nakorn Lanna Co-op was founded in 1978 following the collapse of the Chiang Mai bus system. During its heydays in the 1990s oversaw over 4,000 songtaews in Chiang Mai though today its numbers have dropped to around 2,500 songtaews, 330 taxis and 50 minibuses. Ironically Singhkham took over the co-op following a 4 million baht loss the previous year.

 

During a 2015 interview with Citylife Singkhkham told us that the co-op now owns 14 rai of land and had 243 million baht in its current account, being in the best financial shape it had ever been in.

 

However, on January 5th of this year, the committee members of Nakhon Lanna Cooperative arranged a meeting to seek solutions for the ongoing issue concerning Singhkham’s legitimacy, since he has failed to follow the bylaws of the co-op by holding regular general meetings. Another concern was that the co-op had suffered a 40 million baht loss last year and the committee held Singhkham responsible.

 

Full Story: http://www.chiangmaicitylife.com/news/head-songtaew-co-op-forced-resign/

 

-- © Copyright Chiang City News 2018-1-8

Check his personal bank a/c...and look at what assets he has/compared to his annual salary....therein will lie the answer as to the loss