Thaksin Sells Shin Corp Stake For Bt80 Billion

[Jai Dee]

SHINAWATRA AND DAMAPONG FAMILIES HAVE SOLD SHARES IN SHIN CORP TO TEMASEK.

The Shinnawat and Damapong (ดามาพงษ์) families have decided to sell 49.595% shares in Shin Corp to Singaporean Temesak Holding company, in a deal worth 73.3 billion baht.

Spokesperson for the two families, Suwan Walaisatien (สุวรรณ วลัยเสถียร) said that the two families have decided to sell their shares in Shin Corp to Temesak at 49.25 baht per share, with no condition that the two families will buy the shares back. Shin Corp expressed belief that having a new partner will support the firm’s expansion in Asian region. Mr. Suwan also said that the two families will donate some profits from the sale to charity.

An executive of Temasek overseeing investment S. Iswalan (เอส อิสวลาน) said that the company decided to buy shares in the company because Thailand is expanding and is an interesting market. He said Shin Corp is a leading and famous firm, adding that the firm will apply its experience and utilize the firm’s telecom network around the world to working with Shin Corp’s management to seek highest profits for Shin Corp’s shareholders.

Source: Thai National News Bureau Public Relations Department - 24 January 2006

[Butterfly]

Shinawatra clan sells out to Singapore's Temasek

Prime Minister Thaksin cashes in the family jewels with $1.85 billion sale.

The worst kept secret in Thailand was revealed yesterday (January 23) with the news that Prime Minister Thaksin Shinawatra's family has sold its entire 49.6% shareholding in Shin Corporation to Singapore's Temasek Holdings and its partners, in a cash offer of $1.85 billion. The rumours had been matched by recent intensity of turnover in the stock, which had spiked until it was finally suspended earlier on Monday.

Various members of the Shinawatra family had owned personal stakes in Shin Corp since the family patriarch's role as prime minister of Thailand meant he could not be the nominal owner of the shareholding.

Thaksin himself commented that the decision to make the sale was driven by his children who wanted him to "remain in politics happily". Whilst Thaksin continues to advocate investment in Thai business from his political platform, his family has now taken its chips off the table with the divestment of this asset. Only time will tell whether (and how) these funds will potentially be recycled into Thai investments.

http://www.financeasia.com/articles/F7372B...FA6703C0BA3.cfm

Edited January 24, 2006 by Butterfly

[ratcatcher]

Shinawatra clan sells out to Singapore's Temasek

Prime Minister Thaksin cashes in the family jewels with $1.85 billion sale.

The worst kept secret in Thailand was revealed yesterday (January 23) with the news that Prime Minister Thaksin Shinawatra's family has sold its entire 49.6% shareholding in Shin Corporation to Singapore's Temasek Holdings and its partners, in a cash offer of $1.85 billion. The rumours had been matched by recent intensity of turnover in the stock, which had spiked until it was finally suspended earlier on Monday.

Various members of the Shinawatra family had owned personal stakes in Shin Corp since the family latriarch's role as prime minister of Thailand meant he could not be the nominal owner of the shareholding.

Thaksin himself commented that the decision to make the sale was driven by his children who wanted him to "remain in politics happily". Whilst Thaksin continues to advocate investment in Thai business from his political platform, his family has now taken its chips off the table with the divestment of this asset. Only time will tell whether (and how) these funds will potentially be recycled into Thai investments.

http://www.financeasia.com/articles/F7372B...FA6703C0BA3.cfm

Well, now that it's finally a done deed,and the main man is as rich as Croesus, maybe we can all get on with our lives and try and ignore the Shinawatra soap opera. He says his kids decided to sell so that he can dedicate himself to the people of Thailand without being accused of conflict of interest. Bit late for that I'd say.

His daughter said she knew nothing about it a few days ago and " We should ask the big guys", the old man says the kids did it.

Just how much buffalo manure does he think the Thai people can swallow?

Can anyone tell me one good thing that this man has done for the Thai people out of the goodness of his heart and not for personal or financial gain for himself or his cronies, in the five years he has been running this country. Has any other leader of a democracy been so totallyand absolutely in control with everyone completely subservient to him and his demands and wishes.

He is lampooned in the press every day,even the Bangkok Post has few good words to say. The man is incapable of saying sorry or I apologise for.................lest he be considered weak.

His pathetic joking about the fatal plane crash at Nakhon Pathom while he was having lunch at At Samat, was in the worst possible taste yet his reaction was that it was a private comment not meant for publication. "Don't follow me into the toilet" he was reported to have said. Well that's where he would seem to belong with his attitude. Since he has lost the respect or at least support of the middle classes in Bangkok he must play Santa to the peasants who have supported the TRT.

Not much longer. The writing is on the toilet wall.

[sriracha john]

The "shell game" graphically explained :

[sriracha john]

How to maintain a positive point of view on the sell-off:

Don’t begrudge Shin Corp, just be proud

Published on January 25, 2006

I’m a very happy and proud man now. Here’s a trick if you are feeling low and worthless: check out your tax records and look at your lifelong income. There you go.

Now you can hold your heads up high, folks, because you are proven to be good, patriotic and honest Thai citizens.

You’ve got to feel great, because even the prime minister’s children, who are walking away with tens of billions of baht in fresh income, are not contributing to the development of the nation the way you do. A little jealousy is allowed though. From Thaksin Shinawatra’s tone, his kids have had to make some sacrifices for their dad. Well, who do I have to kill to get to be able to make that sort of sacrifice?

Proud as I am, I can be a complete idiot when it comes to taxes, so please forgive my naive scepticism. I was lost for words when a college was in tears after finding out that while he paid nearly Bt100,000 to the Revenue Department, Pinthongta Shinawatra, who is approximately 30,000,000,000 times richer than he is, is paying virtually nothing for what she earns from the Temasek takeover. What can I say? The same department cut off my arm and leg when I “exercised” my company’s stock warrants (I haven’t even sold the damned shares yet).

By the way, congratulations to the prime minister, his family, relatives and associates. The Temasek deal provides a perfect finale for his anti-poverty crusade, which was televised around the clock for five days.

It feels great to see and hear our nation’s leader preach about good planning, self-reliance and the evils of greed, and then exit backstage for a Bt73-billion pay day. Talk about leading by example.

Bt73 bloody billion and virtually no tax. There’s nothing we can do but admire their planning, appreciate their self-sufficiency and thank God that our prime minister is free from greed. For generations to come, the Shin Corp takeover will be talked about as the best model for the super-ultra-fast creation of wealth.

The success story began with, of course, the smart use of nominees. Shin Corp should build statues in tribute to the Shinawatra family’s maids Duangta Wongpakdee and Boonchu Rianpradab and some other servants because without them, things could have been a bit harder.

The existence of those “major shareholders” allowed Thaksin and his wife to, among other things, keep their “ownership” of Shin Corp shares just below the level where any further acquisition of stocks would have had to have been conducted openly through a tender offer for the sake of fairness for other investors. In theory, the nominees also allowed the tax-free transfers of shares.

But Shin Corp’s strength depended on some other factors. In 2002, thanks to heavily criticised government decisions regarding how to convert telecom concessions into licences to facilitate the future liberalisation of the lucrative industry, Thaksin’s business empire and smaller operators didn’t have to pay a huge fee to the state as many would have liked. Critics said the government was “robbed” blind, but since the prime minister didn’t complain, why should we?

Then there was a major coincidence that I think shouldn’t be linked at all to the Temasek takeover. But for the record, in October 2001, Parliament passed a new telecom act, which triggered a major outcry from telecommunications firms arguing that it would only benefit Shin Corp. The contentious clause in the act is a 25-per-cent limit on foreign ownership in any Thai telecom firm, as compared with the previous limit of 49 per cent.

With Shin Corp’s business rivals relying more on foreign investment, it was believed then that the law would prevent them from getting strong enough to challenge the empire’s domination.

Unexpectedly though, Shin Corp urged the government a month later to amend the law, a request that the Thaksin administration accepted and proceeded with at the speed of light. It’s worth noting that SingTel, Temasek’s subsidiary, was a major strategic partner of Shin Corp at the time. The amended law that restored the 49-per-cent limit took effect a few days ago.

But since it all began with “nominees”, why not end it graciously the way it started? A glance at the complex Temasek scheme and we may see high-flying “Duangta” and “Boonchu” all over it.

They may not be maids or chauffeurs, but if they are there for the same purpose, they should be accorded equal respect. More statues should be built.

Finally, special thanks to bankers and revenue and stock market authorities who went out of their way to teach us how to save a lot of money in this kind of mega-deal. They have done this country a great service and, like me and my friend, who is still sobbing as I type this, they can be very proud.

- Tulsathit Taptim

[Chang_paarp]

TIT

[Jai Dee]

PM IS CONFIDENT THE SALE OF SHIN CORP SHARES TO TEMASEK WOULD NOT AFFECT THAILAND'S COMMUNICATION SYSTEM.

Prime Minister Thaksin Shinawatra is confident the sale of Shin Corporation shares to Temasek Holding would not affect Thailand’s communication system.

The Prime Minister said the untaxed sale of Shin Corporation shares was legitimate and in accordance with the Stock Exchange of Thailand’s regulation. He said that the executives at the corporation would remain Thai managers. Prime Minister Thaksin also said that part of the money acquired from the sale would be used for research on poverty.

Meanwhile, Thai Air Asia’s Chief Executive Office, Mr. Tassapol Beleveld (ทัศพล แบเลเวลด์) said that the company, a subsidiary of Shin Corporation, would maintain its Thai managers and the low-cost airline policy would be maintained. The Stock Exchange of Thailand has removed the SP sign on shares of Shin Corporation, Advanced Info Service, CS Loxinfo, ITV, and Shin Satellite.

Source: Thai National News Bureau Public Relations Department - 25 January 2006

[sriracha john]

Prime Minister Thaksin also said that part of the money acquired from the sale would be used for research on poverty.

I was going to ask if there were any specifics about this but then, I found this:

A Grand Hyatt Erawan employee finalizes preparation of the centerpieces to be used during the inaugural "PM's Research on Poverty" meeting to be held at the exclusive 5-star hotel.

[sriracha john]

[dr_Pat_Pong]

[chuchok]

Who owns UBC then.

This is from their web site..

Edited January 26, 2006 by chuchok

[sriracha john]

Nigerian 419 scammers are the majority shareholders of UBC??

[Terminator]

Ah, here is the sweetener, only Toxin can gurantee this!

AIS 'assured' 3G licence

Lynchpin of Temasek buyout of Shin Corp

POST REPORTERS

Singapore's Temasek Holdings has received assurances that mobile operator Advanced Info Service (AIS) will be awarded a third-generation (3G) licence as a condition for its investment in Shin Corp, according to local sources. 3G licences will give local operators the right to unroll new network technology with considerably faster transmission speeds than existing cellular technology.

More importantly, the issuance of new licences will allow existing operators to operate outside their current concessions, which include revenue-sharing agreements with state-owned TOT Corp or CAT Telecom.

Sources said Temasek had made 3G licences a lynchpin of its deal to invest in Shin, which holds 42.8% of AIS.

The National Telecommunications Commission has yet to finalise terms for new 3G networks, but is expected to issue new licences this year.

''It is 100% certain that AIS will receive a 3G licence. Never mind that the framework hasn't been finalised,'' said one AIS executive.

Another source close to the share deal said it was no surprise that Temasek, as the new investor, had sought reassurances that Shin and AIS would be ''protected'' in the future under telecom reform.

''Frankly, the deal price of 49.25 baht per share for Shin is quite expensive. But if you have a guarantee of a 3G licence, then it becomes quite cheap. And they will undoubtedly have first-mover advantage,'' he said.

AIS plans to invest 16 billion baht in new network equipment this year, with around half earmarked for 3G technology.

Prime Minister Thaksin Shinawatra announced on Monday that he was divesting his family's telecom holdings in a 73.3-billion-baht deal with Temasek.

The deal gives Temasek the 49.5% stake controlled by the Shinawatra and Damapong families and was structured through two proxy firms, Cedar Holdings and Aspen Holdings, to avoid violating foreign shareholding limits.

Mr Thaksin earlier this month approved an amendment raising the foreign shareholding limit for telecom firms to 49% from 25%, a move that also helped clear the way for the Temasek investment.

Gen Choochart Promprasit, the NTC chairman, denied any knowledge of guarantees offered to Shin for a 3G licence.

''The general 3G service framework is complete, but we have not yet decided how licences will be awarded,'' he said.

The NTC could choose a ''beauty contest'', where applicants are evaluated on their strengths, or hold an auction where the highest bidders secure licences.

Gen Choochart said even though TOT and CAT Telecom have already been awarded licences, they could not begin their services until the final framework was completed.

Meanwhile, Supadej Poonpipat yesterday submitted his resignation as AIS audit committee chairman and independent director, although he is expected to stay on as a company board member.

Mr Supadej, an AIS audit committee member for the past three years, is a 20% shareholder in Kularb Kaew Co, a new holding vehicle set up by Temasek as part of the Shin deal.

Kularb Kaew, with capital of 160 million baht, is 51% owned by Mr Supadej and Pong Sarasin, with another 49% held directly by Temasek.

The company in turn holds a 41.1% share of Cedar Holdings, which now holds 38.6% directly in Shin.

Other shareholders of Cedar include Siam Commercial Bank with 9.9% and Cypress Holdings, a Temasek proxy, with 48.99%.

Both Mr Supadej and Mr Pong are expected to eventually sell off their Kularb Kaew shareholdings to other investors.

Mr Thaksin earlier this month approved an amendment raising the foreign shareholding limit for telecom firms to 49% from 25%, a move that also helped clear the way for the Temasek investment.

Now we know why, talk about being shifty

[sriracha john]

Thanks for that, Terminator...

things get even murkier... (if that's possible):

SHIN TAKEOVER: Tax spotlight on brother-in-law

Published on January 26, 2006

Minute scrutiny of huge deal begins to focus on ‘weakest link among those who avoided tax’. The focus of the scrutiny of the Shin Corp takeover deal has now shifted to Bhanapot Damapong, who is not paying any tax on the big sell-off, nor has he ever paid any related tax, all the way from his obtaining the Shin stocks from his sister Khunying Pojaman Shinawatra in 2000 to his sale of 404.43 million shares to Temasek of Singapore on Monday for Bt19.92 billion.

Bangkok Democrat MP Korn Chatikavanij said that within the next few days the Democrats would form a working committee to closely trace the Shinawatra and Damapong families’ transfer of Shin Corp stocks and examine the tax questions that might arise.

“Although the proceeds from the sale of the stocks may not be taxable, we have to look at the whole thing as to whether it has gone through the due process of sound public policy or not,” Korn said.

In 2002, Bhanapot obtained 4.5 million Shin shares worth Bt738 million from Duangta Wongphakdi, a maid working in the Shinawatra household. The shares originally belonged to Pojaman. Bhanapot accepted the transfer of the stocks without paying tax on the grounds that they were given to him as a “gift” (thamjarnya).

Later, he acquired another 26.82 million shares at Bt10 apiece from Pojaman without paying tax because the share transfer was, once more, considered a gift.

Shin stocks were then trading at Bt150 each, and Senator Chirmsak Pinthong has calculated that Bhanapot should have paid Bt4.729 billion in tax, as of September 30, 2005, to the Revenue Department.

Klanarong Chanthik, former secretary-general of the National Counter Corruption Commission, said on Tuesday that he testified to the Constitution Court during the asset-concealment case against Thaksin in 2001 that Bhanapot got the shares as a gift, and not by purchasing them.

“Bhanapot also said he did not buy the stocks, but got them from Pojaman,” he said. “If that was the case, he should have paid income tax of 37 per cent.”

During the same period, Panthongtae and Pinthongta Shinawatra also took delivery of Shin stocks in a similar manner as a gift (sanehah) from their parents, without having to pay tax. Thaksin and Pojaman were then unloading the stocks to their children because Thaksin was going into politics and had won the 2001 election.

Panthongtae is pocketing Bt22.58 billion and Pinthongta Bt29.78 billion for their shares in the Shin sell-off. They do not need to pay tax because individuals selling stocks in the stock exchange are exempted from capital gains tax. This exemption is designed to promote investment in the local stock market.

A financial source said that in the case of Panthongtae and Pinthongta, it is quite understandable that they did not have to pay tax when they first took the transfer of the stocks, because as children of Thaksin and Pojamarn, they were entitled to the gift.

“But in the case of Bhanapot, I am not sure whether he should pay tax or not,” the source said.

“He was in a position to look after himself then. If he does not pay tax, why do all the people exercising stock options have to pay tax?”

Korn said a tax expert had told him that if the asset transfer was done on the basis of a gift, so as to avoid paying tax, the giver, and not the receiver, would have to pay tax.

He said the logic in this was that it looks like the giver is handing over an asset to another party as a gift in order to avoid paying tax, so the giver in this case has to pay the tax.

“But we have to take a look at the whole thing and check out the facts first,” he added.

A Finance Ministry official said one had to look at the date on which the Shin stocks’ sales contract was signed. “If the signing of the contract took place before the share transfer in the stock exchange, this must be considered as an over-the-counter transaction, which must be taxed,” the official said.

But Phaithoon Phongkesorn, a deputy director-general of the Revenue Department, disagreed. She said there was no need to pay tax in the event of signing the selling contracts in an over-the-counter market because the transaction has not yet happened, or the money has not yet been paid out or received.

“You have to see whether they have signed the contract or received the money. If they have not yet received the money because the transaction has not yet really taken place, they can do the transaction in the stock market to fulfil the legal terms without having to pay tax,” she said.

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

Is it any surprise that the more that is revealed about this whole deal, the more shady and scammier and suspicious and ugly it becomes...

I feel so sorry for Thailand...

[Jai Dee]

GEN THAMMARAK: THE SALE OF SHIN CORP SHARES WILL NOT AFFECT STABILITY OF THE NATION

Defense Minister THAMMARAK ISARANGURA NA AYUTTHAYA (ธรรมรักษ์ อิศรางกูร ณ อยุธยา) referred to the sales of Shin Corporation Public Company Limited’s shares where many parties have shown concern that there might be domination over the satellite businesses.

He said that the sales of Shin Corp shares will have no affect on the stability matter and that he has assigned concerned agencies to look after the news to prevent the leakage of such information to foreign countries.

Source: Thai National News Bureau Public Relations Department - 26 January 2006

[sriracha john]

He said that the sales of Shin Corp shares will have no affect on the stability matter and that he has assigned concerned agencies to look after the news to prevent the leakage of such information to foreign countries.

Can someone provide an English translation of this paragraph??

I tried using the Alta-Vista Babel Fish Translation website, but it still came out all garbled and senseless...

[Jai Dee]

Defence Minister fears Singapore spying with Shin Corp satellites

Defence Minister Thammarak Israngura Na Ayuttaya said the intelligence community was concerned that Singapore's takeover of Shin Corp could allow the city state to eavesdrop on Thailand with the company's satellites.

"Nothing has happened yet, but in terms of intelligence, we already have security safeguards in place. Intelligence agents are closely monitoring" for any possible espionage, he told reporters.

"We have to watch anything that could affect national security," he said.

Singapore's state-owned investment company Temasek led a takeover of Shin Corp on Monday, in a Bt73.3 billion deal to buy the nearly 50 per cent stake in the company held by Prime Minister Thaksin Shinawatra's family.

The deal included Shin Satellite Public Co, which operates three telecom satellites that cover Asia and Australia, providing telephone, Internet, television and other services.

Source: The Nation - Jan 26 , 2006

[Butterfly]

Oh man, this is getting funnier by the day.

Anyone got the dirt on that other scam PICNIC about 2 years ago ?

it makes any soap operas boring when you look at all those "crusty" details

[ratcatcher]

Defence Minister fears Singapore spying with Shin Corp satellites

Defence Minister Thammarak Israngura Na Ayuttaya said the intelligence community was concerned that Singapore's takeover of Shin Corp could allow the city state to eavesdrop on Thailand with the company's satellites.

"Nothing has happened yet, but in terms of intelligence, we already have security safeguards in place. Intelligence agents are closely monitoring" for any possible espionage, he told reporters.

"We have to watch anything that could affect national security," he said.

ingapore's state-owned investment company Temasek led a takeover of Shin Corp on Monday, in a Bt73.3 billion deal to buy the nearly 50 per cent stake in the company held by Prime Minister haksin Shinawatra's family.

The deal included Shin Satellite Public Co, which operates three telecom satellites that cover Asia and Australia, providing telephone, Internet, television and other services.

Source: The Nation - Jan 26 , 2006

OXY-MORON

Thai Intelligence

Government Intelligence

government integrity

military intelligence

Honest Politician

Edited January 26, 2006 by ratcatcher

[sriracha john]

Any way you look at it ...

Bt73.3 billion in cash – it’s enough to make our heads spin.... playing with this enormous number. Here are some of the interesting figures we’ve come up with.

Yesterday, Prime Minister Thak-sin Shinawatra’s family received a huge cash haul of Bt73.3 billion from Temasek of Singapore from the sale of its Shin Corp shares. Let’s start with how the Shinawatra family will count all that cash.

According to a bank employee, banks’ cash-counting procedures normally require that it be counted twice. The first time they count it by hand, to make sure none of the notes are fakes.

Assuming the amount is in Bt1,000 notes, it usually takes

about three minutes to count Bt1 million. The second time around they use a counting machine, which takes about one minute per Bt1 million. So, in total, you’re looking at four minutes to count each Bt1 million.

All told, that means counting Bt73.3 billion would take 293,200 minutes. That’s 4,886.67 hours ... or 203.61 days ... or 6.79 months. So basically, you’re looking at half a year. Of course, that’s assuming a single bank worker goes at it 24 hours a day, sitting at his or her desk with no naps, no meals, no snacks – not even a single toilet break.

Let’s imagine for a moment how much all that money would weigh. Assuming again that we’re talking about Bt1,000 banknotes, Bt1 million in cash would weigh in at about 0.4 kg. Altogether, Bt73.3 billion would weigh 29,320 kg, or 29.32 tonnes.

So, if he wants to haul around that much cash, Thaksin might have to call his old friend Snoh Thienthong’s service and hire a 10-wheeled truck.

Knowing how much the premier appreciates the efforts of “coolies”, however – remembering how he thanked the “coolies” for working so hard at the soft opening of the new Airport in September – he’d need to hire precisely 586.4 of them to move his new-found cash reserves around. (For that statistic, many thanks to the National Parks officer who informed us that each porter can lug 50 kg).

You’re probably dying to know how long all that cash would stretch for if it were laid out. Well, measured end-to-end, Bt73.3 billion worth of Bt1,000 notes would be 11,874.6 km long. That’s four times the distance from Thailand’s northernmost district of Mae Sai in Chiang Rai, to the southernmost district, Yala’s Betong.

And just how big an area would Bt73.3 billion in cash cover, you ask? According to the Bank of Thailand’s website, the size of a Bt1,000 note is 7.2cm by 16.2cm. That means Bt73.3 billion in Bt1,000 notes would occupy 85,497.12 sq km. To put that in perspective, that’s four times the area of the Kingdom’s largest province, Nakhon Ratchasima – or nearly the size of the entire Central region of Thailand.

Does all this give you some idea of exactly how much money we’re talking about here?

While it’s still not clear what Thaksin’s family intends to do with their huge cash haul, the most obvious option is to deposit the money in a bank.

According to a commercial bank, the three-month fixed interest rate is 3.25 per cent. If Thaksin’s family stashes the Bt73.3 billion in that bank they would earn (after deducting 15 per cent in tax) Bt506.23 million on their deposit every three months. That’s Bt168.74 million a month ... or Bt5.62 million a day ... or nearly Bt234,365 an hour ... or Bt3,906 a minute ... or just over Bt65 a second in interest.

If Thaksin is to be taken at his word, the Shinawatras aren’t looking to start any new businesses.

“Oh! No more. I will have a rest and work for the country. My children run small businesses that fit their age. How Come [the company run by Thaksin’s son Panthongtae] is still in the red,” the premier said earlier this week.

So, with all that free time on their hands, we were curious to know how long it would take the Shinawatra clan to spend all that money.

According to one study, the average life span of a Thai is 72 years, or 26,280 days.

Thaksin’s only son Panthongtae is 27 years old. That means he’s got 45 years – or 16,425 days – left. Having pocketed Bt22.58 billion from the Shin deal, he could afford to spend Bt1.37 million a day ... or Bt57,280 an hour ... or Bt954 a minute ... or Bt15 every second for the rest of his life. And we haven’t even mentioned the interest that will accumulate for every second that he fails to spend any cash.

[Jai Dee]

<snip>

You've got way too much spare time on your hands John...

Maybe you should offer to assist with the counting...

and the spending of course!

[penzman]

73.3 billion baht?

3,665,000,000 bowls of kao pad koong at 20 baht each...

Billions served!

[dr_Pat_Pong]

[sriracha john]

<snip>

You've got way too much spare time on your hands John...

... actually all those free-time mathematical computations are courtesy of The Nation..

Maybe you should offer to assist with the counting...

and the spending of course!

Absolutely, I would. That would go a LONG way to updating schools, improving rural health care, modernizing mental institutions, enhancing proper waste disposal, cleaning up waterways, etc. etc. etc. etc. Could easily spend every satang on the betterment of Thailand.

[Jai Dee]

<snip>

You've got way too much spare time on your hands John...

... actually all those free-time mathematical computations are courtesy of The Nation..

Maybe you should offer to assist with the counting...

and the spending of course!

Absolutely, I would. That would go a LONG way to updating schools, improving rural health care, modernizing mental institutions, enhancing proper waste disposal, cleaning up waterways, etc. etc. etc. etc. Could easily spend every satang on the betterment of Thailand.

You'd get my vote for PM...

I hereby nominate sriracha john to replace Thaksin as PM of Thailand.

It's shameful that not one satang of taxes will be paid on this sale... at least that way, some money could have flowed back into public coffers.

[sriracha john]

You'd get my vote for PM...

I hereby nominate sriracha john to replace Thaksin as PM of Thailand.

...hmmm...and subject myself to ridicule on thaivisa at evey turn??.... no way, no thanks...

It's shameful that not one satang of taxes will be paid on this sale... at least that way, some money could have flowed back into public coffers.

You must remember, he IS giving some of it back (Post #68 of this thread)... I understand the "Research on Poverty Gala Ball" at the Grand Hyatt Erawan will be the ultimate event on the social calendar of Bangkok's elite. There's a big run on blue hair-dye and thick white make-up paste at all the hi-so beauty salons throughout Bangkok.

[ovenman]

You must remember, he IS giving some of it back (Post #68 of this thread)... I understand the "Research on Poverty Gala Ball" at the Grand Hyatt Erawan will be the ultimate event on the social calendar of Bangkok's elite. There's a big run on blue hair-dye and thick white make-up paste at all the hi-so beauty salons throughout Bangkok.

I am hoping that the Bangkok Herald-Examiner will be sending their ace reporter to cover this gala event.

[Erwin1011]

SJ not only seems to have much time at hand to work out all the interesting stats (or the nation for that matter, as he claims to be the source), but both of them forgot a n interesting one. The finance department has urged to that taxation services to increase the countries taxation income with another 17.4 billion additional revenue. This is almost exactly the amount the Shin Family would have had to pay on the deal had it not received these generous exemptions from that same department. "Pure coincidence ? "

[sriracha john]

Bangkok Herald-Examiner exclusive:

Secretly recorded conversations last week at Government House:

==========================================

T.S. : "We need another 17 billion in the budget?"

Finance Minister: "Yes, we incorrectly forecasted expenditures."

T.S. : "Well, I'm not paying it."

Finance Minister: "That's ok, we'll raise taxes on everyone else to make up for the shortfall."

T.S.: "Good. I've already got plans for 17 of my 73. With 6 of it I'm going to build a casino on Koh Chang. The other 67 I'm putting it all into.... say... what's that wire coming out from the bottom of the flower vase??? What the..."

=========================================

at that point, the tape goes blank...

[sriracha john]

You must remember, he IS giving some of it back (Post #68 of this thread)... I understand the "Research on Poverty Gala Ball" at the Grand Hyatt Erawan will be the ultimate event on the social calendar of Bangkok's elite. There's a big run on blue hair-dye and thick white make-up paste at all the hi-so beauty salons throughout Bangkok.

I am hoping that the Bangkok Herald-Examiner will be sending their ace reporter to cover this gala event.

I've been informed that they are preparing him now:

Pen for Front Pocket

and

Under suit's lapel