SSO board told to clarify its investment in Sri Panwa Hotel’s trust fund

[webfact]

SSO board told to clarify its investment in Sri Panwa Hotel’s trust fund

 

 

Civil Society for State Welfare is demanding clarification from the board of the Social Security Office (SSO) about its investment in the Sri Panwa Hospitality Real Estate Investment Trust, while an opposition MP has demanded a probe into the land rights of the Sri Panwa Phuket Luxurious Pool Villa Hotel in Phuket.

 

Mr. Nimit Thian-udom, a core member of the Civil Society for State Welfare, said today that, although there is no law prohibiting the SSO from investing in a trust fund, its board should explain the rationale for its investment, the yield and take into consideration the good governance record of the businesses in which it invests.

 

Pheu Thai MP for Bangkok, Chirayu Huangsap, said the House Committee on Judicial Affairs, Independent Organizations and State Enterprises will invite the Labour Minister to clarify the SSO’s investment in the trust fund, worth about 500 million baht.

 

Full story: https://www.thaipbsworld.com/sso-board-told-to-clarify-its-investment-in-sri-panwa-hotels-trust-fund/

 

-- © Copyright Thai PBS 2020-09-24

 

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[bluesofa]

9 minutes ago, webfact said:

Pheu Thai MP for Bangkok, Chirayu Huangsap, said the House Committee on Judicial Affairs, Independent Organizations and State Enterprises will invite the Labour Minister to clarify the SSO’s investment in the trust fund,

'Invite'? Is this some formal language in government, or is there something else going on? '

Demand' would surely be the better word for what appears to be a suspect use of public money.

[klauskunkel]

from the article:

"Labour Minister Somsak Thepsuthin said he does not yet know if the hotel was built legally on a hilltop overlooking the Andaman Sea."

 

Investment first, minor legal details to be adjusted later

Edited September 24, 2020 by klauskunkel

[DirtyHarry55]

So the SSO "Social Security Office" invested in a Luxury Resort owned by

a vocal Pro Government supporter?

 

Which is now taking a hit financially?

 

Hopefully they didn't invest too much in Luxury Resorts.

 

 

lol

[AgMech Cowboy]

43 minutes ago, DirtyHarry55 said:

So the SSO "Social Security Office" invested in a Luxury Resort owned by

a vocal Pro Government supporter?

Yep, that pretty much sums up the whole rhetoric.

[Baerboxer]

7 hours ago, bluesofa said:

'Invite'? Is this some formal language in government, or is there something else going on? '

Demand' would surely be the better word for what appears to be a suspect use of public money.

 

Yes, seems rather odd. Pheu Thai normally "demand" everything they want. 

[JusticeGB]

The "invitation" might have been extended because the purchase of the land may have occurred at a time when a former reincarnation of Phue Thai existed. 

[tracker1]

Here they must have a dictionary of words to use in place of the word Corruption !