Thaksin Strikes Bhutan Deal For Shin Corp

[george]

PM strikes Bhutan deal for Shin Corp

BHUTAN: -- Prime Minister Thaksin Shinawatra has promised to link Bhutan with his family-owned satellite network to help the cloistered Buddhist kingdom establish an IT computer system, the Thai News Agency (TNA) reported yesterday.

Thailand is also considering a Bhutanese government request to install a telemedicine system designed to provide medical advice through a satellite system, similar to one already in place in Thailand.

An agreement to lease a transporter on the Shin Corp satellite, which has a footprint covering South Asia and Southeast Asia, was reached on Saturday, the first day of Thaksin’s visit to Bhutan, said TNA in a report datelined Thimphu, Bhutan.

Thaksin promised to talk to his daughter, Pinthongta, a major shareholder in Shin Satellite Plc, about the Bhutan connection because he was “no longer the company’s owner”, according to Government Spokesman Chalermdej Jombunud.

The prime minister, in talks with his Bhutanese counterpart Lyonpo Yeshey Zimba, also promised to continue offering government scholarships to Bhutanese to study in Thailand.

Thaksin arrived in Bhutan on Saturday after a two-day visit to India.

He is the first Thai prime minister to visit the reclusive country.

Thailand expressed its willingness to allow Bhutan to use Thailand as a hub for aviation, while suggesting Bhutan should enlarge its airport in an effort to attract more tourists to visit the country.

Bhutan has deliberately restricted tourist arrivals in its secluded mountainous Kingdom for decades, to avoid the ill effects of mass tourism and the erosion of the local culture.

During Thaksin’s meeting with the Bhutanese King Jigme Singye Wangchuck yesterday afternoon, the Bhutanese monarch praised His Majesty King Bhumibol Adulyadej for his innovative ideas, especially programmes promoting self-sufficiency.

--Deutsche Presse-Agentur 2005-06-05

[sriracha john]

PM strikes Bhutan deal for Shin Corp

BHUTAN: -- Prime Minister Thaksin Shinawatra has promised to link Bhutan with his family-owned satellite network to help the cloistered Buddhist kingdom establish an IT computer system, the Thai News Agency (TNA) reported yesterday.

An agreement to lease a transporter on the Shin Corp satellite, which has a footprint covering South Asia and Southeast Asia, was reached on Saturday, the first day of Thaksin’s visit to Bhutan, said TNA in a report datelined Thimphu, Bhutan.

How many governments will the PM be allowed to make personal business deals with before he's stopped? This is clearly an example of conflict of interest, by using the governmental trips to further his business empire. He's already penned deals with India for his satellite.  

Thaksin promised to talk to his daughter, Pinthongta, a major shareholder in Shin Satellite Plc, about the Bhutan connection because he was “no longer the company’s owner”, according to Government Spokesman Chalermdej Jombunud.

If anyone truly believes that Thaksin entrusts the running of this huge corporation to Pinthonga, age 23, or that she is the "real" owner of Shin Satellite, I have the "real" Easter bunny for sale to them.  BTW, she's the country’s richest stockholder with shares worth Bt18 billion. Additional note is that Shin Satellite value jumped 70% last year.... what a nice profit can be had when you have the head of the Thai government running around Asia getting governmental deals for his private business.

[ovenman]

PM strikes Bhutan deal for Shin Corp

An agreement to lease a transporter on the Shin Corp satellite, which has a footprint covering South Asia and Southeast Asia, was reached on Saturday, the first day of Thaksin’s visit to Bhutan, said TNA in a report datelined Thimphu, Bhutan.

Interesting that Mr. Big is out there making these deals considering that since he has been PM, he has repeatedly insisted he has nothing to do with the running of ShinCorp.

If anyone truly believes that Thaksin entrusts the running of this huge corporation to Pinthonga, age 23, or that she is the "real" owner of Shin Satellite, I have the "real" Easter bunny for sale to them.  BTW, she's the country’s richest stockholder with shares worth Bt18 billion.

I guess she doesn't need that job at McDonalds anymore, eh?

[sriracha john]

PM strikes Bhutan deal for Shin Corp

An agreement to lease a transporter on the Shin Corp satellite, which has a footprint covering South Asia and Southeast Asia, was reached on Saturday, the first day of Thaksin’s visit to Bhutan, said TNA in a report datelined Thimphu, Bhutan.

Interesting that Mr. Big is out there making these deals considering that since he has been PM, he has repeatedly insisted he has nothing to do with the running of ShinCorp.

If anyone truly believes that Thaksin entrusts the running of this huge corporation to Pinthonga, age 23, or that she is the "real" owner of Shin Satellite, I have the "real" Easter bunny for sale to them.  BTW, she's the country’s richest stockholder with shares worth Bt18 billion.

I guess she doesn't need that job at McDonalds anymore, eh?

<{POST_SNAPBACK}>

Actually, that was Pinthonga's younger sister, Phaethongtharn, that did the little publicity stunt job at McDonald's. She's now a university sophomore and has a "paltry" net worth of "only" Bt1.42 billion.

A few of the "clan's" holdings:

Thaksin's daughter Pinthonga: Bt18.03 billion

Thaksin's brother-in-law Bon..: Bt15.26 billion

Thaksin's son Panthongthae : Bt11.09 billion

Thaksin's daughter Phaethon..: Bt1.42 billion

Thaksin's niece Chinicha : Bt760.02 million

Thaksin's sister Yingluck : Bt755 million

Thaksin's nephew Chayapha : Bt645.49 million

Thaksin's niece Yoschanant : Bt636.6 million

[sabaijai]

PM strikes Bhutan deal for Shin Corp

An agreement to lease a transporter on the Shin Corp satellite, which has a footprint covering South Asia and Southeast Asia, was reached on Saturday, the first day of Thaksin’s visit to Bhutan, said TNA in a report datelined Thimphu, Bhutan.

Interesting that Mr. Big is out there making these deals considering that since he has been PM, he has repeatedly insisted he has nothing to do with the running of ShinCorp.

If anyone truly believes that Thaksin entrusts the running of this huge corporation to Pinthonga, age 23, or that she is the "real" owner of Shin Satellite, I have the "real" Easter bunny for sale to them.  BTW, she's the country’s richest stockholder with shares worth Bt18 billion.

I guess she doesn't need that job at McDonalds anymore, eh?

Actually, that was Pinthonga's younger sister, Phaethongtharn, that did the little publicity stunt job at McDonald's. She's now a university sophomore and has a "paltry" net worth of "only" Bt1.42 billion.

A few of the "clan's" holdings:

Thaksin's daughter Pinthonga: Bt18.03 billion

Thaksin's brother-in-law Bon..: Bt15.26 billion

Thaksin's son Panthongthae : Bt11.09 billion

Thaksin's daughter Phaethon..: Bt1.42 billion

Thaksin's niece Chinicha : Bt760.02 million

Thaksin's sister Yingluck : Bt755 million

Thaksin's nephew Chayapha : Bt645.49 million

Thaksin's niece Yoschanant : Bt636.6 million

Any news on the net wealth of the wife's sister?

[ovenman]

I guess she doesn't need that job at McDonalds anymore, eh? 

Actually, that was Pinthonga's younger sister, Phaethongtharn, that did the little publicity stunt job at McDonald's. She's now a university sophomore and has a "paltry" net worth of "only" Bt1.42 billion.

So many members of the extended Big family that it's kinda hard to keep them all straight.

A few of the "clan's" holdings:

And that list doesn't even begin to cover all of the far-flung cousins and such...

[sriracha john]

I guess she doesn't need that job at McDonalds anymore, eh?  

Actually, that was Pinthonga's younger sister, Phaethongtharn, that did the little publicity stunt job at McDonald's. She's now a university sophomore and has a "paltry" net worth of "only" Bt1.42 billion.

So many members of the extended Big family that it's kinda hard to keep them all straight.

And his offspring seem to bring out controversy at school:

His son was supposed to get thrown out of Raemkhamheng Uni after getting caught with blantantly cheating on a exam. The denial was such a slick public relations job. Perhaps cheating was a part of life, declared the rector of the university; everyone does it. This was all after he was tossed out of Thammasatt for academic failure.

His daughter, who had a 2.45 GPA, was going to be admitted to a Chulalongkorn University programme that demanded a 2.75 GPA or higher. Suddenly, the dean of faculty announced that there was a misprint in the brochures advertising the programme. There was so much hub-bub over this as many more qualified students were turned down to give her a seat that the school subsequently turned refused her admission, but eventually she got into a different, less-desired faculty at Chula. A huge blow to the school's previously fine standing occured when Chulalongkorn University Rector Dr Suchada Keeranant welcomed the premier's daughter, saying the university would treat her like other students without any special privileges. She expressed much sympathy for Paetongtarn, urging the public and the media to stop their attacks on her. "We should pity her."

The whole thing caused one of my most favorite times during the Thaksin era:

Thaksin Shinawatra made a tearful appeal Friday for his daughter's privacy to be respected after she was rejected from a prominent university under controversial circumstances.

Thaksin has battled allegations that his 17-year-old daughter Paetongtarn benefitted when the entrance standards for a popular course were relaxed, and that exam papers were leaked to privileged students.

"There has been an effort to drag my daughter into politics. I was upset over the matter," Thaksin said in a trembling voice."I'm begging you, please, she doesn't have anything to do with anything," Thaksin said in his most emotional public appearance.

Tears brimmed in his eyes when he said Paetongtarn always put on a brave face in front of him.

"She was afraid I would be too stressed, but when I peeked into her room, she was crying," Thaksin said.

OOOOHHHHHHHHH BOOOOOO HOOOOOOOO.... how SAD.....

The whole thing also created my favorite quote from Thaksin's brain-challenged son:

"She isn't a stupid girl," the young man said. "She's capable of studying at any foreign university. She just wanted to be here and stay close to dad. If some politicians have no idea who to attack, come and attack me. Don't go after a small girl."

LOL.... HAhahahaha.... PRICELESS....

such sage words from the young billionaire

[sriracha john]

PM strikes Bhutan deal for Shin Corp

An agreement to lease a transporter on the Shin Corp satellite, which has a footprint covering South Asia and Southeast Asia, was reached on Saturday, the first day of Thaksin’s visit to Bhutan, said TNA in a report datelined Thimphu, Bhutan.

Interesting that Mr. Big is out there making these deals considering that since he has been PM, he has repeatedly insisted he has nothing to do with the running of ShinCorp.

If anyone truly believes that Thaksin entrusts the running of this huge corporation to Pinthonga, age 23, or that she is the "real" owner of Shin Satellite, I have the "real" Easter bunny for sale to them.  BTW, she's the country’s richest stockholder with shares worth Bt18 billion.

I guess she doesn't need that job at McDonalds anymore, eh?

<{POST_SNAPBACK}>

Actually, that was Pinthonga's younger sister, Phaethongtharn, that did the little publicity stunt job at McDonald's. She's now a university sophomore and has a "paltry" net worth of "only" Bt1.42 billion.

A few of the "clan's" holdings:

Thaksin's daughter Pinthonga: Bt18.03 billion

Thaksin's brother-in-law Bon..: Bt15.26 billion

Thaksin's son Panthongthae : Bt11.09 billion

Thaksin's daughter Phaethon..: Bt1.42 billion

Thaksin's niece Chinicha : Bt760.02 million

Thaksin's sister Yingluck : Bt755 million

Thaksin's nephew Chayapha : Bt645.49 million

Thaksin's niece Yoschanant : Bt636.6 million

<{POST_SNAPBACK}>

Any news on the net wealth of the wife's sister?

<{POST_SNAPBACK}>

Do you mean Yaowapha Wongsawat, the MP and leader of the Wang Bua Ban’s group within the TRT Party, who power-brokered the latest Cabinet reshuffle in her group's favor? Who's husband is Justice Ministry permanent secretary Somchai Wongsawat, and responsible for dumping TRT Party loyal, faithful and people-popular Purachai, when he dared to speak his own mind within the party.

No ... wait... that's not his wife's sister. That's Thaksin's own sister. Geez.... you are right, ovenman, it IS difficult to sort all this clan out....

There is so much mixing of business.... politics... family....

Have to go look now for more info about his sister-in-law...

btw, Thaksin's such a nice brother. He sold 2 million Shin Corp shares to his sister Yinglak Shinawatra at Bt 10 per share on September 1, 2000, when the share price was at Bt 110.

[sriracha john]

PM strikes Bhutan deal for Shin Corp

An agreement to lease a transporter on the Shin Corp satellite, which has a footprint covering South Asia and Southeast Asia, was reached on Saturday, the first day of Thaksin’s visit to Bhutan, said TNA in a report datelined Thimphu, Bhutan.

Interesting that Mr. Big is out there making these deals considering that since he has been PM, he has repeatedly insisted he has nothing to do with the running of ShinCorp.

If anyone truly believes that Thaksin entrusts the running of this huge corporation to Pinthonga, age 23, or that she is the "real" owner of Shin Satellite, I have the "real" Easter bunny for sale to them.  BTW, she's the country’s richest stockholder with shares worth Bt18 billion.

I guess she doesn't need that job at McDonalds anymore, eh?

<{POST_SNAPBACK}>

Actually, that was Pinthonga's younger sister, Phaethongtharn, that did the little publicity stunt job at McDonald's. She's now a university sophomore and has a "paltry" net worth of "only" Bt1.42 billion.

A few of the "clan's" holdings:

Thaksin's daughter Pinthonga: Bt18.03 billion

Thaksin's brother-in-law Bon..: Bt15.26 billion

Thaksin's son Panthongthae : Bt11.09 billion

Thaksin's daughter Phaethon..: Bt1.42 billion

Thaksin's niece Chinicha : Bt760.02 million

Thaksin's sister Yingluck : Bt755 million

Thaksin's nephew Chayapha : Bt645.49 million

Thaksin's niece Yoschanant : Bt636.6 million

<{POST_SNAPBACK}>

Any news on the net wealth of the wife's sister?

<{POST_SNAPBACK}>

Also, just to clarify.... those above balance sheets are ONLY for stock holdings in the SET, not net worths. Net worth with land holdings, properties, private

non-listed companies, savings, cash, etc. would likely lead to significantly higher net worths. Sorry I miswrote earlier.

Edited June 6, 2005 by sriracha john

[sriracha john]

While I continue to research the sis-in-law, some Thaksin tidbits:

Shin Corp. was anything but a family business on April 9, 1997, when Thaksin's maids Duangta Wongpakdee and Boonchu Rianpradab were left holding six million and 990,000 shares respectively. That was until Bannapot Damapong, Thaksin's brother-in-law, bought 4.5 million Shin Corp shares from one of Thaksin's servants, paying Bt738 million.

His sister, Yinglak, is president of A.I.S., the #1 telecom in Thailand, with the extremely Orwellian logo of “Anytime…Anywhere…Everyone”

His cousin, General Chaiyasit Shinawatra, is the Army commander-in-chief.

Thaksin graduated from the Thai Police Academy, where he absorbed and adopted their extremely odd-sounding motto, "Better to die than to live like a loser".

So, to add to the previous

business….politics….. family....

you can add … military…. Police… to his family’s conglomerate influences. It seems the only thing lacking is…… sports…...

[camerata]

Acording to today's Bangkok Post, Thaksin is considering Bhutan as a production base for export goods to other countries in future. He also used suggested the building of a new airport and the use of helicopters to promote tourism.

The Bhutanese government would have to be pretty naive to take Thailand's advice on tourism development or airports. The country will be ruined if they do.

[ovenman]

The Bhutanese government would have to be pretty naive to take Thailand's advice on tourism development or airports. The country will be ruined if they do.

Somebody should point the Bhutanese government towards the series of articles the Bangkok Post ran last week regarding development on Ko Chang. Using Bangkok as an example, if Bhutan starts today on the construction of a new Thimphu airport, it should be ready to open on or about 2050. Aviation hub of the Himalayas anybody...?

[sriracha john]

Acording to today's Bangkok Post, Thaksin is considering Bhutan as a production base for export goods to other countries in future. He also used suggested the building of a new airport and the use of helicopters to promote tourism.

The Bhutanese government would have to be pretty naive to take Thailand's advice on tourism development or airports. The country will be ruined if they do.

<{POST_SNAPBACK}>

Not to belittle the small nation of 600,000 people, but Royal Bhutan Airlines, the smallest national carrier in the world, has only four small airplanes in their inventory.... not exactly a huge impact in the airline, transportation, or tourism industries.

[tuky]

Thaksin...the hub of Asia?

[ozzydom]

Was it a private visit to push Shin Corps barrow or fully paid by the suffering Thai people,seem to recall he did similar deal in Myanmar last year.

[chownah]

Is there any other satellite communication company in Thailand other than Shin Corp? If not then which is better for Thailand...a) Thaksin make the deal for Shin Corp. or b)Thailand not be involved in the deal at all and let some other country make the deal.

[GuestHouse]

Do I take it you don't like Taxin?

[ovenman]

Is there any other satellite communication company in Thailand other than Shin Corp?  If not then which is better for Thailand...a) Thaksin make the deal for Shin Corp.  or  b)Thailand not be involved in the deal at all and let some other country make the deal.

The point is that Mr. Big is not supposed to be involved with the operations of Shin Corp while he is serving in the government. It smacks of conflict of interest on so many levels...

[ozzydom]

Is there any other satellite communication company in Thailand other than Shin Corp?  If not then which is better for Thailand...a) Thaksin make the deal for Shin Corp.  or  b)Thailand not be involved in the deal at all and let some other country make the deal.

<{POST_SNAPBACK}>

OK I,ll bite, what are the benefits for Thailand ??

[Heng]

When will he get his act together and do all this through Cayman Islands, Nevis, and Antiguan shell corporations, like we do in the west?

Sounds like more sour grapes all around.

[Plus+]

A couple of years ago he personally gave a tour of Shin Satellite exhibition in Malaysia to Mahathir explaining all the advantages of the upcoming Ipstar.

And yes, there are no other satellite providers in Thailand. I wonder why.

About countries making deals - remember how he was politely reminded by Swedish PM that business deals are for private companies, not the governments? That was infamous chicken for fighter jets barter.

Amateurs.

[gburns57au]

and you worry about piffling police corruption.....this is the real corruption.

[chownah]

Is there any other satellite communication company in Thailand other than Shin Corp?  If not then which is better for Thailand...a) Thaksin make the deal for Shin Corp.   or  b)Thailand not be involved in the deal at all and let some other country make the deal.

The point is that Mr. Big is not supposed to be involved with the operations of Shin Corp while he is serving in the government. It smacks of conflict of interest on so many levels...

<{POST_SNAPBACK}>

I'm not trying to be apologetic for him or the Thai gov't...but it seems to me that anyone being PM of Thailand should try to get big internatinal contracts for Thai companies. Anyone doing a good job of being PM would have gone to the Buhtanese officials and done everything possible to sew up the contract for the Thai company. If there is only one company then whose interest is being conflicted? I mean its a sham to try to assert that he is not the owner but that is not the real issue here. The real issue here is "Should a Thai PM exert his/her influence to land a big internatinal contract for a private Thai corporation when it is a monopoly?" Since it is in the countries interest I would say that the PM should try to get the contract and would be being negligent if he didn't.

[Heng]

[Johpa]

..... The real issue here is "Should a Thai PM exert his/her influence to land a big internatinal contract for a private Thai corporation when it is a monopoly?"  Since it is in the countries interest I would say that the PM should try to get the contract and would be being negligent if he didn't.

<{POST_SNAPBACK}>

Hey, Toxin is a guy who engineered a coup d'etat in a neighboring country to get the monopoly there on telecommunications. This is one powerful and dangerous dude whose family has no problems with eliminating minor roadblocks with extreme prejudice. Bhutan was in no position to argue with Toxin being squeezed between India and Toxin's imperialist allies to the north.

[taxout]

Don't forget Thai Air Asia, 51 percent owned by Shin Corp:

" . . . what surprised AirAsia [Malaysia] officials was the speed at which things move in Thaksin's Thailand.

"Four months after beginning negotiations, AirAsia [Malaysia] had a partner, an aviation licence, a staff of 300 and even an endorsement from the Premier."

http://flitesite.co.uk/nuke/modules.php?na...article&sid=200

[sriracha john]

Is there any other satellite communication company in Thailand other than Shin Corp?  If not then which is better for Thailand...a) Thaksin make the deal for Shin Corp.   or  b)Thailand not be involved in the deal at all and let some other country make the deal.

The point is that Mr. Big is not supposed to be involved with the operations of Shin Corp while he is serving in the government. It smacks of conflict of interest on so many levels...

<{POST_SNAPBACK}>

I'm not trying to be apologetic for him or the Thai gov't...but it seems to me that anyone being PM of Thailand should try to get big internatinal contracts for Thai companies. Anyone doing a good job of being PM would have gone to the Buhtanese officials and done everything possible to sew up the contract for the Thai company. If there is only one company then whose interest is being conflicted? I mean its a sham to try to assert that he is not the owner but that is not the real issue here. The real issue here is "Should a Thai PM exert his/her influence to land a big internatinal contract for a private Thai corporation when it is a monopoly?" Since it is in the countries interest I would say that the PM should try to get the contract and would be being negligent if he didn't.

<{POST_SNAPBACK}>

The fact that he is the real owner of Shin IS central to this whole issue. When he makes any deals with foreign countries, it is for his own personal benefit, not for the nation as a whole. If he truly had the nation's interests at heart, he would attempt to build up diversity in the whole satellite industry. He should be promoting competition, instead of snuffing it out with his multi-leveled powers.

He should divest himself of any role in any company... truthfully, not by giving shares away to his servants.

By doing so, he would add immeasurable credibility to Thailand's businesses on the world economic stage, instead of the current litany of distrust, corruption, and shady dealings that characterize Thai business.

[sriracha john]

Was it a private visit to push Shin Corps barrow or fully paid by the suffering Thai people,seem to recall he did similar deal in Myanmar last year.

<{POST_SNAPBACK}>

yes, but it all started 3 years ago actually..

Published on May 16, 2002

Shin Satellite said yesterday that it has signed a deal to provide telecommunications services to Burmese villages, many of which have no telephones.

The Bt514-million deal with was signed in Bangkok.

Since then, more satellite-related deals have been made with Burma.

And regarding the financing,

The Exim Bank approved the Bt600-million loan for the Burmese government to buy into the broadband satellite system that Shin Satellite, the firm owned by the Shinawatra family, was chosen to supply.

The project was proposed as part of the Bt4-billion credit line Thailand extended to Burma to help develop its infrastructure, with the condition that materials be purchased from the Kingdom and loans be repaid within 12 years at interest of 3 per cent.

HOWEVER,

The Export-Import Bank of Thailand (Exim Bank) testified to a Senate committee that it had been forced by the government to grant loans to the controversial Shin Satellite broadband satellite system project in Burma.

“We have no choice but to follow government policy. Although it was not a written order, it could be understood verbally,” Exim Bank president Sataporn Jinachitra told the Senate committee on foreign affairs. “This is not a business to which the Exim Bank usually grants loans,” he said.

Despite repeated calls from various agencies for the Exim Bank to fully disclose its contract, the bank has refused.

Critics have blasted Prime Minister Thaksin Shinawatra, describing his support for the oppressive military government of Burma as “odd behaviour given Thailand’s professed commitment to democracy and human rights”.

“Some suspect that the raison d’etre can be summed up in a single word: iPSTAR.”

spot on

[sriracha john]

Is there any other satellite communication company in Thailand other than Shin Corp?  If not then which is better for Thailand...a) Thaksin make the deal for Shin Corp.  or  b)Thailand not be involved in the deal at all and let some other country make the deal.

<{POST_SNAPBACK}>

No, there are no competitors.... and here's an example of why that is:

Published on Apr 25, 2005

The recent Bt3.25-billion deal between iPSTAR Co, a unit of Shin Satellite Plc, and TOT Corp Plc further cements the Shin empire’s bond with the state agency.

The latest Shin-TOT tie-up has raised the spectre of a telecom market monolith that could leave competitors out in the cold.

TOT’s board last week approved the state agency’s plan to act as the exclusive wholesale distributor of the iPSTAR broadband satellite service in Thailand for seven years.

see any conflict in this?... when a state agency, TOT, makes an exclusive deal with a company owned by the Head of the State.

Competing businesses aren't going to succeed against set-ups like this.

The TOT-Shin connection got its start a decade ago when TOT granted a concession to Shin’s Advanced Info Service Plc (AIS) to offer a nationwide mobile-phone service.

TOT also owns 49 per cent of AIS’ data network provider, Advanced Datanetwork Communications.

seems they're all in bed together...

[sriracha john]

and you worry about piffling police corruption.....this is the real corruption.

 

<{POST_SNAPBACK}>

very true, gburns, very very true.

What is a 200 baht bribe slipped to a traffic policeman, or a 100 baht given to a Cambodian border cop when compared to the 100 BILLION baht like this?? :

Somkiat Tangkitvanich, a telecom expert from the Thailand Development Research Institute, urged the national telecom regulator and the public to watch closely for favourable treatment from the government of the broadband satellite iPSTAR of Shin Satellite Plc (ShinSat), a company controlled by the family of Prime Minister Thaksin Shinawatra.

The satellite cost around Bt15.4 billion and is scheduled to be launched into orbit  next year.

Somkiat questioned the Board of Investment's award of privileges to ShinSat for its satellite project, providing a corporate income tax holiday on foreign revenues for eight years.

Moreover, Somkiat said iPSTAR Co, a wholly owned subsidiary of ShinSat, had established two subsidiaries, one each in Australia and New Zealand. He asked whether this was an attempt by ShinSat to conceal real profits or to avoid paying concession fees to the concession holder, the Information and Communications Technology Ministry.

Under the concession, ShinSat has to pay 15.5 per cent of its revenues to the ministry during the initial years of operation, before the ratio increases to 22.5 per cent between 2017 to 2021.

A source at ShinSat argued separately that under the concession contract, ShinSat did not have to pay revenues from equipment and operation to the ministry.

The major role of its Australia and New Zealand arms is to market iPSTAR's broadband satellite signal receivers in the two countries.

"The contract only requires us to pay the revenue gained from selling the transponder channel, and we've been paying these transponder revenues to the ministry," the source added.

Somkiat also questioned a credit line of about Bt600 million given to the Burmese junta by the state-owned Export-Import Bank of Thailand to buy satellite equipment from ShinSat.

Sungsidh Piriyarangsan, vice chairman of the independent National Economic and Social Advisory Council, expressed concern over what he said was the high level of corruption in the past four years.

"This a subtle type of corruption, a policy corruption," he said. The cost for taxpayers was more than Bt100 billion, he added.