Thai Finance Ministry to sell its massage parlour shares

[webfact]

Finance Ministry to sell its massage parlour shares

By The Nation

 

The Finance Ministry has said it is preparing to sell its shares in massage-parlour businesses.

 

The State Enterprise Policy Office (Sepo) on Wednesday issued a statement to confirm and clarify a report that the Finance Ministry holds shares in operators of massage parlours.

 

Sepo said the Anti-Money Laundering Office transferred the shares to the Finance Ministry in 2012 as a result of convictions of a wrongdoer related to the sex industry.

 

The ministry holds about 0.5-2 per cent of four companies: Davis Diamond Star, Davis Copacabana, Davis Golden Star and Davis Silver Star.

 

The ministry does not receive any investment return, nor does it engage with management. The ministry plans to sell the shares in the first quarter of this year, according to the statement.

 

Source: http://www.nationmultimedia.com/detail/national/30337049

 

-- © Copyright The Nation 2018-01-24

[Ossy]

What . . . tired of massaging the figures?

[Darcula]

14 minutes ago, webfact said:

The ministry holds about 0.5-2 per cent of four companies: Davis Diamond Star, Davis Copacabana, Davis Golden Star and Davis Silver Star.

 

This really is cloud cuckoo land.

[Ossy]

Finance Ministry to sell its massage parlour shares

 

32 minutes ago, webfact said:

Sepo said the Anti-Money Laundering Office transferred the shares to the Finance Ministry in 2012 as a result of convictions of a wrongdoer related to the sex industry.

The ministry holds about 0.5-2 per cent of four companies: Davis Diamond Star, Davis Copacabana, Davis Golden Star and Davis Silver Star.

The ministry does not receive any investment return, nor does it engage with management. The ministry plans to sell the shares in the first quarter of this year, according to the statement.

Yes, it's reassuring to see that the Ministry, having already held these shares for 6 years, is planning to sell them soon. Question is, "Why now . . . scared that another gravy train will get derailed?" Or maybe the ministers not getting enough back-handers with their free massages. Strict orders from P1, your anti-corruption 'cousin', you can be almost sure. He'll be painting the Government House road white, next - just you see.

 

 

Edited January 24, 2018 by Ossy
omisson

[kotsak]

This Davis guy must be well acquainted with the upper echelons..

[Idiotabroad]

I think we just found the real owner of Victoria Secret

[Ossy]

39 minutes ago, webfact said:

The ministry holds about 0.5-2 per cent of four companies: Davis Diamond Star, Davis Copacabana, Davis Golden Star and Davis Silver Star.

I wonder what the multi-tasking Davis guy did wrong. He sounds like a real cookie . . . such an innocent-sounding name, too!

Edited January 24, 2018 by Ossy
omisson

[Cadbury]

37 minutes ago, webfact said:

The ministry does not receive any investment return

Of course the Ministry does not receive a return. Dividends are siphoned off by senior officials before it gets anywhere near treasury. 

[worgeordie]

So the Government is up to its eyes in the sex trade,

that should be really embarrassing, I don't think

any of their establishments ever got raided.

 

regards worgeordie

[SirBuwanaDogbossKing]

How can a government department hold shares in any private company, this is a blatant conflict of interest. What a pathetic shambles this country is.

[dabhand]

No surprise that this is related to Chuvit Kamolvisit.

 

A google search will reveal all.

 

 

Edited January 24, 2018 by dabhand
BP link

[shady86]

No more free massages and drinks for Ministry officials!

[Misterwhisper]

All these places were once owned and operated by former "massage parlor king" Chuwit Kamolwisit, who allegedly sold them off when he wanted to become a politician. Chuwit openly admitted that his parlors provided sex services and were not only venues for therapeutic traditional massages.

 

Now, let some investigative journalist dig a bit deeper and find out who exactly in a previous government authorized or instructed the Finance Ministry to purchase these shares. I bet that some very familiar names would be coming up. Alas, it's not going to happen. Investigative journalism in this country is crippled by these insane defamation laws that protect all bad apples that actually should be exposed and named and shamed. 

[billd766]

10 minutes ago, Misterwhisper said:

All these places were once owned and operated by former "massage parlor king" Chuwit Kamolwisit, who allegedly sold them off when he wanted to become a politician. Chuwit openly admitted that his parlors provided sex services and were not only venues for therapeutic traditional massages.

 

Now, let some investigative journalist dig a bit deeper and find out who exactly in a previous government authorized or instructed the Finance Ministry to purchase these shares. I bet that some very familiar names would be coming up. Alas, it's not going to happen. Investigative journalism in this country is crippled by these insane defamation laws that protect all bad apples that actually should be exposed and named and shamed. 

 

6 years ago would have put it at the time of the PTP government.

Edited January 24, 2018 by billd766

[Bluespunk]

3 hours ago, webfact said:

The ministry holds about 0.5-2 per cent of four companies

0.5-2%, that's it?

 

Big whoop...

Edited January 24, 2018 by Bluespunk

[eggers]

Hmm...Davis this & Davis that,,, Isn't that name of ex-brothel owner, turned MP, Chuwit Kamolvisit's , hotel The Davis Bangkok,is he still involved those Co's or did he opt out?? 

[CantSpell]

When you thought you heard it all and seen it all..

 

Then they hit you with "The finance ministry to sell its share in prostitution businesses"..

"Nothing serious, we have only been involved for 6 years" 

 

"Someone has to collect the money to pay for the watches, you know" 

 

Anti corruption drive went well.... 

 

 

Edited January 24, 2018 by CantSpell

[YetAnother]

4 hours ago, Darcula said:

 

This really is cloud cuckoo land.

and the really strange thing to us old-timers, is that it appears to be getting Worse, astonishingly

[MikeN]

3 hours ago, Misterwhisper said:

Now, let some investigative journalist dig a bit deeper and find out who exactly in a previous government authorized or instructed the Finance Ministry to purchase these shares.

 

 

So you put your fingers to work before reading all the OP ? Nobody purchased anything, they were seized by the AMLO just like they seized other peoples' assets.

"the Anti-Money Laundering Office transferred the shares to the Finance Ministry in 2012 as a result of convictions of a wrongdoer related to the sex industry"

All seized assets go to the Finance Ministry, so nothing out of the ordinary here.

Edited January 24, 2018 by MikeN

[Misterwhisper]

3 hours ago, billd766 said:

 

6 years ago would have put it at the time of the PTP government.

Exactly. Thanks for confirming this.

[Misterwhisper]

44 minutes ago, MikeN said:

 

So you put your fingers to work before reading all the OP ? Nobody purchased anything, they were seized by the AMLO just like they seized other peoples' assets.

"the Anti-Money Laundering Office transferred the shares to the Finance Ministry in 2012 as a result of convictions of a wrongdoer related to the sex industry"

All seized assets go to the Finance Ministry, so nothing out of the ordinary here.

Yes, I was a little too hasty there. See? I can admit it without losing face. So who held on to the other 98 - 99.5 % of these shares without being convicted as a "wrongdoer related to the sex industry"?

[sammieuk1]

An even happier ending for some . What's the dividend I might be interested?

[tryasimight]

So they're cutting their interest to the bone...r. 

[ericthai]

6 hours ago, Misterwhisper said:

Now, let some investigative journalist dig a bit deeper and find out who exactly in a previous government authorized or instructed the Finance Ministry to purchase these shares. 

Read the article again is says 

" Anti-Money Laundering Office transferred the shares to the Finance Ministry in 2012 as a result of convictions of a wrongdoer related to the sex industry." 

 

From this it appears the shares were confiscated in an anti-money laundering case and then were given to the finance ministry.

[KKr]

11 hours ago, Misterwhisper said:

Yes, I was a little too hasty there. See? I can admit it without losing face. So who held on to the other 98 - 99.5 % of these shares without being convicted as a "wrongdoer related to the sex industry"?

Holding shares has got nothing to do with being a "wrongdoer", unless one has a controlling or blocking stake or a Directors position.
 

Edited January 25, 2018 by KKr

[Sydebolle]

Naaah, not possible. If this is true then I wonder, what fringe benefits are awarded to shareholders, apart from the normal earnings per share - ha ha ha! 

[tryasimight]

2 hours ago, KKr said:

Holding shares has got nothing to do with being a "wrongdoer", unless one has a controlling or blocking stake or a Directors position.
 

Director's position...... They are making porn movies as well?

[KKr]

5 hours ago, tryasimight said:

Director's position...... They are making porn movies as well?

If one ticks the CCTV consent box ( just next to the credit card signature box ) who knows what they do !
 ;-)

[Mac98]

On 1/24/2018 at 12:31 AM, Darcula said:

 

This really is cloud cuckoo land.

The most famous brothel in the U.S. was The Mustang Ranch near Reno, Nevada. The government wound up owning it when the owner, Joe Comforts, was convicted of tax evasion. Government kept it open to collect back taxes.

[Darcula]

34 minutes ago, Mac98 said:

The most famous brothel in the U.S. was The Mustang Ranch near Reno, Nevada. The government wound up owning it when the owner, Joe Comforts, was convicted of tax evasion. Government kept it open to collect back taxes.

 

That really is cloud cuckoo land.