PTT Denies Paying Kickbacks To Iraq

[Jai Dee]

Thai PTT Denies Paying Iraq Kickbacks In UN Oil Program

BANGKOK (Dow Jones)--Thailand's state-controlled oil and gas conglomerate PTT PCL (PTT.TH) denied Monday being involved in paying kickbacks to Saddam Hussein's regime under the United Nations' the oil-for-food program.

"We're not involved in any kickbacks....Our oil procurement with Iraq under the oil-for-food program was transparent," PTT President Prasert Bunsumpun said in a statement.

Investigators of the UN program issued a report Thursday that accused more than 2,200 companies around the world as well as prominent politicians of allegedly diverting funds from the humanitarian operation through kickbacks to Saddam's regime.

Several people have already been charged in the U.S., while France is investigating officials and business leaders for alleged involvement.

Three Thai companies - PTT, Chaiyaporn Rice Co. and PB Pongboon Intertrade - were cited in the report.

Source: here

[carlthailand]

Yeah sure just like the scanners.

[TAWP]

All deals - except this, eh? =)

[Jai Dee]

THAI GOVERNMENT IS READY TO COOPERATE WITH UN'S INVESTIGATION INTO OIL-FOR-FOOD SCANDAL CONCERNING THE ALLEGED THAI COMPANIES INVOLVED

The Thai Government says it is ready to provide cooperation in the investigation into the United Nations' Oil-for-Food scandal case, while the president of PTT has affirmed that he was not involved with the bribery.

The UN's investigation into the oil for food corruption case has suggested that three Thai companies many have been involved with the corruption that took place during former Iraqi President Sadam Hussein's reign.

Foreign Minister Kantathi Suphamongkhon (กันตธีร์ ศุภมงคล) has already asked the cited companies to provide details, and ordered Thailand's representatives in the UN to closely collaborate with the world body in the matter.

Deputy Prime Minister Surakiart Sathirathai (สุรเกียรติ์ เสถียรไทย) said the Thai government stands ready to provide cooperation with the UN, regardless of the direction of its investigation. He also remarked that the matter would not affect his run for the post of UN Secretary-General.

Meanwhile, PTT President Prasert Bunsamphan (ประเสิรฐ บุญสัมพันธ์) has submitted a letter to the Stock Exchange of Thailand affirming that the company, among the three suggested of possible involvement, was in no way involved with the scam.

Source: Thai National News Bureau Public Relations Department - 02 November 2005

[Jai Dee]

THE STATEMENT OF THE FOREIGN AFFAIRS MINISTER ON THE OIL-FOR-FOOD SCAM

Foreign Affairs Minister Kantathi Suphamongkhon made the statement regarding the release of the recent report from the Independent Inquiry Committee (IIC) on the United Nations' Oil-for-Food Programme in Iraq.

The Foreign Affairs Minister said although Thailand has not yet been officially contacted by the UN, the kingdom is ready to cooperate with its investigation in the matter to help clarify the facts about the illicit payment and the improprieties under the Oil-for-Food Programme. At the moment, Thailand is coordinating closely with the UN to obtain more information and undertake appropriate and timely actions. He said the companies that were involved in the alleged corruption must clarify their actions.

Moreover, Thailand is a signatory to the United Nations Convention against Corruption since December 9th, 2003, and will follow the Convention in due course.

Source: thaisnews.com ประจำวันพุธที่ 2 พฤศจิกายน 2548