Thai Govt Mulls Buying Thaicom Over Security Fears

[george]

Thai govt mulls buying broadcaster over security fears

BANGKOK, June 14, 2010 (AFP) - Thailand said Monday it was seeking to buy a broadcaster that aired programmes supportive of the opposition "Red Shirts" during weeks of anti-government protests.

Prime Minister Abhisit Vejjajiva said talks over the proposed purchase of Thaicom Plc, part of a telecoms empire founded by fugitive ex-premier Thaksin Shinawatra, were under way with majority owner Temasek Holdings of Singapore.

"The purchase is reasonable when you consider the security situation," he told reporters.

Demonstrators stormed Thaicom's offices in April after authorities pulled the plug on the satellite firm's broadcasts of an anti-government channel, People Television (PTV), under emergency laws imposed to contain unrest.

Abhisit said any deal for Thaicom would be transparent and at a fair price, although he did not give details of a budget or time frame.

Temasek, a state-owned Singaporean investment giant, bought a 49.6-percent stake in Thaicom's parent Shin Corp. from the Thaksin family in 2006.

The tax-free deal triggered months of street protests demanding Thaksin's resignation over alleged abuse of power and corruption, culminating in a coup by royalist generals in September 2006 that ousted the tycoon-turned-premier.

The subsequent military regime accused Singapore of using a subsidiary of Shin Corp. to spy on the kingdom.

At the end of April, Temasek had a direct stake of 41.7 percent in Shin Corp. and was also part of a consortium that owned 54.4 percent, according to the broadcaster's website. Shin Corp. in turn owns 41 percent of Thaicom.

Thailand's two months of unrest, which left 90 people dead and nearly 1,900 injured, were brought to a bloody end with an army crackdown on May 19 on the rally of the Red Shirts, many of whom seek Thaksin's return.

The government has accused the ex-premier, who lives overseas to avoid a jail term at home for corruption, of inciting the unrest.

-- (c) Copyright AFP 2010-06-14

[mazeltov]

^its all to make the job of the dude, who talks about his difficult work in the article below, easier.

--------------

The Cyber Warrior - Sirichok Sopha speaks out

By Kornchanok Raksaseri,

Jintana Panyaarvudh

The Nation

Published on June 13, 2010

Why the government's main concern during the red shirts' protests was controlling the airwaves and the 'Net

There was much conjecture during the recent Cabinet reshuffle that Songkhla Democrat MP and close aide of Prime Minister Abhisit Vejjajiva, Sirichok Sopha, could land a ministerial portfolio. It was speculated that he might be appointed as the Minister for Information and Communication Technology in light of the important part he played recently in shutting down the anti-government red shirt's communication channels.

"I provided technical support about the Internet. I also monitored problematic websites and looked at how to block PTV and the red shirts' community radio stations," he says.

Sirichok says that curbing the protesters' lines of communication was the first priority in the recent battle. The United States also cut communications before raiding Iraq. Likewise, the attempt to cut the red shirts' communication channels was regarded as a most important step in the battle, albeit one that was invisible to most people.

Blocking information, a task that required considerable time and effort, stopped much of the provocation, thus reducing and even preventing an increase in the level of violence, he says.

The government used many ways to shut down communications, including technical methods like blocking, scrambling or disturbing the signals, and diplomatic channels, when talks and legal means were needed to obtain the cooperation of service providers and related companies.

"One day, I had to fly to Singapore to talk to Temasek Holdings as we wanted to block the red shirt's communication through the Thaicom satellite," Sirichok explains.

Camfrog chatrooms were also centres for the hard-core red shirts and could be easily accessed at the Rajprasong rally site. Hundreds of the users logged on at the same time and spread information and comments. The government had to contact the service provider in the US to shut down each of the rooms.

But first, the authorities need to identify each of them. Some, such as Red Zone, were easy to find but red-shirt users had also given their rooms titles that were more difficult to decipher. Some users were logging on as gays or sneaking into the deserted chatrooms of other people. The government notified these owners that if they continued to allow hardcore protesters to use their chatrooms, they could expect to be shut down.

"[Former prime minister] Thaksin [shinawatra] used many ways to broadcast PTV including Thaicom and NSS6 satellites of the Netherlands. The signal was uplinked in Hong Kong. When the signal was jammed (disturbed), the red shirts changed the frequency and up-linked stations from Hong Kong to those in Israel, Cambodia and Vietnam instead.

"The red shirts must have had special connections, as they could switch to another satellite within 24 hours. Ordinary people cannot, as this involves many procedures as well as the signing of certain documents.

"It was like playing hide and seek. We had to track down how they were broadcasting then block the signal. "Then they changed from sending normal to encrypted signals. And during some periods, their broadcasts could be received just like free TV in the UHF system. All viewers had to do was tune their sets to the right frequency.

"The signal was also broadcast through the Internet. We had to find out which IP address it came from and block it.

After blocking the red shirt's communication, the protests were easier to deal with. Only the crowds at the rally site could listen to the leaders' speeches and people in the provinces were not being provoked into hating the government. Equally importantly, the fabricated sound clips of Abhisit could no longer be disseminated.

Sirichok is proud of his work.

"When the yellow shirts protested against the Thaksin Shinawatra government, he tried every way to shut down ASTV but failed. And he was the satellite godfather himself. But this government was able to shut down PTV.

That means we put enough effort and we had enough technical knowledge to block them.

Sirichok is however quick to stress that the government did not block Facebook and Twitter. Both became so overloaded that the system crashed. When errors occurred, messages saying the ICT Ministry blocked the websites mistakenly appeared, but he is firm that the ICT Ministry did not block those websites.

The communication war continued for the entire two months of the protests. The government was able totally block the red shirts' satellite TV but only managed to stop 70 per cent of their overall communications through the Internet.

"Among the existing 6,000 community radio stations, about 70 are problematic," he says.

He also feels the Democrats cannot afford to underestimate the red shirts' communication channels.

"The ICT Ministry has important and big tasks ahead. The red shirts won't stop here," he says.

The Cyber Warrior - Sirichok Sopha speaks out

-- The Nation June 13, 2010

[Maestro]

June 14, 2010 21:16 PM

Thailand Seeks To Buy Thaicom From Singapore's Temasek

BANGKOK, June 14 (Bernama) -- Prime Minister Abhisit Vejjajiva on Monday said that Thailand's Ministry of Finance is seeking to buy the Thaicom satellite back from Singapore-based Temasek Holdings, citing national security concerns, Thai News Agency (TNA) reported.

The premier said the purchase of Thaicom satellite is highly possible and will be made in a transparent manner in terms of price and other conditions.

He said that the length of time it would take to finalise the transaction depended on the finance ministry.

Read more: www.bernama.com/bernama/v5/newsworld.php?id=505905

-- Malaysian National News Agency Bernama 2010-06-14

[Maestro]

Monday June 14, 2010

Thai govt says wants control of Thaicom satellites

By Khettiya Jittapong

BANGKOK (Reuters) - Shares in Thai satellite operator Thaicom PCL jumped by over a quarter on Monday after the government said it was interested in buying the company or its satellite unit for reasons of national security.

Prime Minister Abhisit Vejjajiva said the government was looking to take control of the satellites, adding talks with Temasek Holdings were at an early stage.

Read more: thestar.com.my/news/story.asp?file=/2010/6/15/worldupdates/2010-06-14T221446Z_01_NOOTR_RTRMDNC_0_-492932-1&sec=Worldupdates

-- The Star 2010-06-14

[Pib]

Sad thing when so much of Thailand telecommunication/TV capability is tied to the Thaicom 2 & 5 satellites. Knock those satellites out (and Thaicom 2 dies pretty soon anyway) and Thailand would basically return to TV aerials for reception, except in those few small areas that have cable and a few other satellites which carry little/few free to air Thai channels. Can you image the civil unrest that would occur if Thai females couldn't view their soap shows everynight....Oh my god, the horror!

[webfact]

MICT confident Thaicom purchase deal “not a problem”

BANGKOK (NNT) -- Minister of Information and Communication Technology, Juti Krairiksh, is confident that the negotiation on the purchase deal of Thaicom satellite with Singapore will not be a problem.

Mr Juti said the consideration on buying the Thaicom satellite back from Singaporean firm Temasek Holdings would be discussed during the cabinet meeting today. The satellite is using Thailand’s orbit and hence concerns the national security. He said the purchase should be done on a government-to-government basis and should face no obstacles because both countries have always been in good relationship.

The ICT minister affirmed that the acquisition of Thaicom is not an action to counter the People Channel of the anti-government United Front of Democracy Against Dictatorship (UDD). Every decision made is based on the country’s benefit, he concluded.

-- NNT 2010-06-15

[webfact]

STOCK ANALYSIS

Takeover attempt will boost Thaicom price

By The Nation

DBS Vickers Securities (Thailand) Ltd is bullish on the upside gain in Thaicom Plc's share price, following reports that the government is taking over the satellite company from Temasek Holdings.

The securities house said that based on its book value of Bt14, Thaicom has the chance to see its share price rise to Bt9.50. Thaicom yesterday rose 29 per cent to end the day at Bt7.05.

"Sentiment on Thaicom was sluggish in the past few months due to spill-over effect from Thaksin court case, the seizure of its gateway by the red-shirt protestors, and the government's shutdown of pro-Thaksin satellite TV channel. The potential deal would help unlock THCOM value. Its book value stands at Bt14," DBS said in its research.

Thaicom has recently sealed a deal in Japan for the use of its iPSTAR satellite, while the iPSTAR contract in India expected to be signed soon.

-- The Nation 2010-06-15

[Rucharee]

I am sure Korn could have made a zillion yesterday.

Don't even bother to trace; it is all under proxies.

[TheBarbarian]

No security fears whatsoever. It is just the very long toes of the Thai old money people who cannot handle the loss of an icon. The new ICT minister immediately showed off his reconciliation skills by threatening to hit Thaksin on the head for selling the company. In the circles of the old money who think they own the money and the poor are their virtual slaves here is never any lack on rhetoric. Singapore is more stabile than Thailand. The company is therefore in better hands with temasek than with the Thai government.which is corrupted to the bone.

[Maestro]

Govt Defends Satellite Buyback Plan

UPDATE : 15 June 2010

Government members insist the planned repurchase of the Thaicom satellite must provide the best benefit for the country.

Deputy Prime Minister in charge of national security Suthep Thaugsuban said the planned repurchase of the Thaicom satellite from Singapore's Temasek Holdings followed a particular television broadcast via the satellite which posed a threat to social order by misrepresenting news information.

Finance Minister Korn Chatikavanij and the prime minister's close aide Sirichoke Sopa recently visited Singapore to talk with Temasek.

Sirichoke said the disclosure on the move was not the government's ploy to speculate Shin Satt stock prices as accused by the opposition Pheu Thai Party.

He stated a Temasek executive revealed the matter during an interview with a foreign news agency and the firm is content with the Thai government's offer if it is useful for both parties.

He insisted the government will buy only the satellite while the procurement of its related businesses rests with the Information and Communication Technology Ministry and the Finance Ministry.

Sirichoke also claimed there is room for the government to retake the satellite without paying as the company failed to honor conditions in the concession contract.

PM's Office Minister Ongart Klampaiboon suggested the way to reclaim the ownership of the Thaicom satellite must be in the best interest of the country.

Ongart said the finance minister's meeting with a Temasek executive was just an initial stage but the latter seemed interested in the sell-off.

ICT minister Juti Kraireok said the planned repurchase of the satellite has nothing to do with the red-shirt PTV station, but national security.

Juti also stated that Thaicom is now being investigated for its permission for PTV to broadcast content that has an affect on national security. He said he is still unable to comment if the contract can be nullified.

Democrat spokesperson Buranut Sanutharuk said the planned repurchase of the Thaicom satellite is among the government's declared policies.

He insisted the move is not for political gain, but to preserve national assets.

The Democrat Party leader's personnel spokesperson Thepthai Senapong expressed belief the government's effort will gain approval from the general public and commented the repurchase should be made as soon as possible.

-- Tan Network 2010-06-15

[Maestro]

Thaicom share price continues rally

By The Nation

Thaicom Plc saw the continued increase in its share price to Bt7.20 today on turnover of Bt1.3 billion.

The share gained Bt0.15 today or 2.13 per cent, following the 29 per cent increase on Monday.

While Thaicom and Shin Corp stated that they have not yet been approached by the government for the proposed buyback, the Stock Exchange of Thailand urged all shareholders to be thoroughly in the investment given the scratchy details.

Finance Minister Korn Chatikavanij admitted that the Thai government proposed to buy the satellite business of Thaicom from Temasek Holdings. He noted that Temasek gave a positive response to the proposal.

"I met Temasek a month ago, but it had never been in the news. But when it appeared in the news, the share price went up. This is helpless. The media is doing their job, but this is not leading to a good result. Certainly, this will affec the decision to buy," he said.

-- The Nation 2010-06-15

[mazeltov]

While Thaicom and Shin Corp stated that they have not yet been approached by the government for the proposed buyback, the Stock Exchange of Thailand urged all shareholders to be thoroughly in the investment given the scratchy details.

Finance Minister Korn Chatikavanij admitted that the Thai government proposed to buy the satellite business of Thaicom from Temasek Holdings. He noted that Temasek gave a positive response to the proposal.

"I met Temasek a month ago, but it had never been in the news. But when it appeared in the news, the share price went up. This is helpless. The media is doing their job, but this is not leading to a good result. Certainly, this will affec the decision to buy," he said.

Well, the article says: "While Thaicom and Shin Corp stated that they have not yet been approached by the government for the proposed buyback"

how is that corresponding with the Korn quote in the following paragraph "that Temasek gave a positive response to the proposal."

looks to me like another hotheaded BS by this government.

the last paragraph is the most funny "the share price went up. This is helpless. ... this is not leading to a good result"

what he had expected? no good? - a onesided and biased opinion.hehe.

Shin corp. went up to +8.91% on 14.06. and down -4.55% on 15.06.

SET profile ShinCorp

SET profile THAICOM

[Siam Simon]

Thaicom share price continues rally

By The Nation

Thaicom Plc saw the continued increase in its share price to Bt7.20 today on turnover of Bt1.3 billion.

The share gained Bt0.15 today or 2.13 per cent, following the 29 per cent increase on Monday.

While Thaicom and Shin Corp stated that they have not yet been approached by the government for the proposed buyback, the Stock Exchange of Thailand urged all shareholders to be thoroughly in the investment given the scratchy details.

Finance Minister Korn Chatikavanij admitted that the Thai government proposed to buy the satellite business of Thaicom from Temasek Holdings. He noted that Temasek gave a positive response to the proposal.

"I met Temasek a month ago, but it had never been in the news. But when it appeared in the news, the share price went up. This is helpless. The media is doing their job, but this is not leading to a good result. Certainly, this will affec the decision to buy," he said.

-- The Nation 2010-06-15

And I'd thought he was a bright spark and one of the good guys! Successful businessmen know that the best way to control a sprung leak is to talk extensively about nothing or keep schtumm when questioned by the media. But this guy is shooting his mouth off? Never mind, Korn. If you do manage to make the deal it will go a long way toward stopping this sort of reporting anomaly ever occurring in Thailand again. In fact, it will be soooooo much easier for all sorts of business dealings to go through without any genuine scrutiny.

[Rucharee]

Thaicom share price continues rally

By The Nation

Thaicom Plc saw the continued increase in its share price to Bt7.20 today on turnover of Bt1.3 billion.

The share gained Bt0.15 today or 2.13 per cent, following the 29 per cent increase on Monday.

While Thaicom and Shin Corp stated that they have not yet been approached by the government for the proposed buyback, the Stock Exchange of Thailand urged all shareholders to be thoroughly in the investment given the scratchy details.

Finance Minister Korn Chatikavanij admitted that the Thai government proposed to buy the satellite business of Thaicom from Temasek Holdings. He noted that Temasek gave a positive response to the proposal.

"I met Temasek a month ago, but it had never been in the news. But when it appeared in the news, the share price went up. This is helpless. The media is doing their job, but this is not leading to a good result. Certainly, this will affec the decision to buy," he said.

-- The Nation 2010-06-15

And I'd thought he was a bright spark and one of the good guys! Successful businessmen know that the best way to control a sprung leak is to talk extensively about nothing or keep schtumm when questioned by the media. But this guy is shooting his mouth off? Never mind, Korn. If you do manage to make the deal it will go a long way toward stopping this sort of reporting anomaly ever occurring in Thailand again. In fact, it will be soooooo much easier for all sorts of business dealings to go through without any genuine scrutiny.

Please look up Korn resume. Maybe you will find something in his previous career. that is all I am allowed to say.

[mazeltov]

Thaicom share price soars

By The Nation

Published on June 16, 2010

Interest in buying back satellite business leads to heavy trading volume; Pheu Thai accuses two politicians of making Bt300m profit from stock manipulation

Thaicom's share price jumped sharply yesterday on the news that the Thai government was planning to buy back the satellite business, prompting charges from the opposition Pheu Thai Party that it might have been a target of stock-market manipulation.

Thaicom, a subsidiary of Shin Corp, closed at Bt7.20 apiece yesterday amid heavy volume of Bt1.34 billion, rising from Bt5.45 last Friday. The trading volume of Thaicom was also heavy at Bt826 million on Monday when the news of the buyback broke. Normally, the trading volume of Thaicom has been below Bt100 million.

Pheu Thai spokesman Phromphong Nopharit said two politicians with the initials K and S had made profits of Bt300 million from the stock price manipulation of Thaicom.

Prakiat Nasimma, a party-list member of Pheu Thai, also said the government had floated the buyback news of Thaicom in order to benefit from stock-market manipulation.

"We'll hold a meeting tomorrow at our party to discuss this issue. Playing up this news may be part of a secret plan to manipulate the stock price, because the government should not buy back the company, since it's a satellite business, not satellite communications," he said.

Finance Minister Korn Chatikavanij yesterday took part in a Twitter session with the editors of The Nation. Pheu Thai had targeted him as one of the ministers to be grilled in the no-confidence parliamentary debate. But the debate ended without any censure against Korn.

Asked how he would respond to the opposition's charges of stock market manipulation, Korn replied: "There were many important issues than Thaicom, and still the opposition did not ask any questions. I met with Temasek [major shareholder of Shin Corp] over a month ago without any impact on the stock price - until it became news yesterday - so not guilty.

"If I had wanted to make profit from this, I would have accumulated stock - but this did not happen."

Korn said the Finance Ministry has been asked to look into the Thaicom deal, and so that is what he is doing now. He declined to comment on his talks with Temasek Holdings.

Temasek could not be reached for comment yesterday. Myrna Thomas, head of corporate affairs at Temasek Holdings, did not respond to telephone calls from The Nation.

Sirichoke Sopha, an aide to Prime Minister Abhisit Vejjajiva, disclosed the Democrat-led government was interested in buying back Thaicom from Temasek.

The Singaporean entity acquired Shin for Bt76 billion in 2006 from ousted prime minister Thaksin Shinawatra. There were indications at the time it would like to buy only blue-chip mobile-phone operator Advanced Info Service from Shin, but the Shinawatras wanted to sell Shin as a whole.

Abhisit stressed anyone inappropriately benefiting from the stock price of Thaicom would be subject to the legal process.

"Everything must be in accordance with the law. We have the Securities and Exchange Commission and the Stock Exchange of Thailand to look into the matter," he said.

Abhisit admitted the government would like to acquire Thaicom, which is now operating the iPSTAR and Thaicom 5 satellites, from Temasek because the satellite operation had national-security implications.

But he said the matter had not reached a point where the government had decided on buying back Thaicom, and the pricing has not yet been determined.

All of this will have to be in line with regulations and the law, because the government will have to refer to the Supreme Court's ruling on Thaicom and determine the role of the government agencies involved, Abhisit added.

Thaicom share price soars

-- The Nation June 16, 2010

[asiawatcher]

Thaicom share price continues rally

By The Nation

Thaicom Plc saw the continued increase in its share price to Bt7.20 today on turnover of Bt1.3 billion.

The share gained Bt0.15 today or 2.13 per cent, following the 29 per cent increase on Monday.

While Thaicom and Shin Corp stated that they have not yet been approached by the government for the proposed buyback, the Stock Exchange of Thailand urged all shareholders to be thoroughly in the investment given the scratchy details.

Finance Minister Korn Chatikavanij admitted that the Thai government proposed to buy the satellite business of Thaicom from Temasek Holdings. He noted that Temasek gave a positive response to the proposal.

"I met Temasek a month ago, but it had never been in the news. But when it appeared in the news, the share price went up. This is helpless. The media is doing their job, but this is not leading to a good result. Certainly, this will affec the decision to buy," he said.

-- The Nation 2010-06-15

And I'd thought he was a bright spark and one of the good guys! Successful businessmen know that the best way to control a sprung leak is to talk extensively about nothing or keep schtumm when questioned by the media. But this guy is shooting his mouth off? Never mind, Korn. If you do manage to make the deal it will go a long way toward stopping this sort of reporting anomaly ever occurring in Thailand again. In fact, it will be soooooo much easier for all sorts of business dealings to go through without any genuine scrutiny.

Please look up Korn resume. Maybe you will find something in his previous career. that is all I am allowed to say.

Well said K Rucharee - and perhaps look at how many shares he holds - under his own name or nominees - a way to recoup his losses under the previous share drops. It may be he will continue to talk up the sale, so spec share traders can make it up, then announce the failed talks, and short the shares on the way back down! There is more money to be made in shorting shares than waiting for the to rise!

[Maestro]

SEC to probe trading of Thaicom shares

The Securities and Exchange Commission will investigate to see if anybody profited illegally from the recent surge in Thaicom Plc's share price following allegation that some politicians pocketed a few hundred millions.

Thaicom stocks price rose 31 per cent in the past two days.

-- The Nation 2010-06-16