Rice Deals With China Fake: Thai Democrats

[webfact]

NO-CONFIDENCE DEBATE

Rice deals with China fake : opposition

The Nation

Democrats produce evidence of a dummy firm tied to govt figures

BANGKOK: -- The opposition has established a link between the government's rice-pledging scheme and massive money laundering by producing evidence of a dummy company, individuals and old ghosts like President Agri Trading and Siam Indica, which could be found involved in non-existent rice deals.

Opposition MP Varong Dejkitvikrom insisted that the 7.3 million-tonne government-to-government rice deal with China was invented to benefit certain companies.

In response to this, Commerce Minister Boonsong Teriyapirom insisted, very strongly, that the government did indeed sell rice as part of a G2G contract. All rice exports are verified by the Department of Trade Negotiations, while the buyers are verified by the embassy, he said, adding that those involved in the deal are government agencies, not a Chinese company as alleged by the opposition.

"[After buying the rice] I won't be investigating what buyers do with it," he said.

Varong backed his case by saying that one of the buyers, Guangzhou-based GSSG Import and Export Corporation, was actually represented by a Thai man called Rathanit Sojirakul, who later authorised Phichit-based Nimon Rakdi to since a contract to purchase 5 million tonnes of rice on the company's behalf.

The Democrat pointed out that Rathanit was a close aide to Pheu Thai MP Rapeephan Phongruangrong, who is the wife of red-shirt leader Arisman Phongruangrong.

Rathanit, who claimed to be the authorised representative of the Chinese firm, only has Bt64.63 in his bank account, the Democrat MP said.

Nimon, who was authorised to sign the contract with the government, is known in Phichit province as Sia Jo or "tycoon Jo". He is the right-hand man of Apichart Chansakulporn, also known as Sia Piang, he said.

Nimon previously worked at President Agri Trading, a company that was found to have been involved in shady dealings under a rice price-pledging scheme launched in 2003-2004 during Thaksin Shinawatra's administration, Varong said.

President Agri is connected to Apichart's Siam Indica, which was also involved in the scam in 2004, he said.

In the latest deal, the Chinese firm paid Bt300 per sack of rice, rather than market price of Bt1,500-Bt1,555, Varong said. Taking this into account, the men in question would make a profit of Bt20 billion. Also, he said, the rice has not gone anywhere but is being stored in Siam President's warehouse in Phichit, he said. There are some 400,000 sacks of rice in the facility, collected between May 5 and July 16, he added.

Varong went on to talk about other suspicious transactions. One involved the Bt500-million cashier's cheque issued by Somkid Ruansupa, who lives in a two-storey house in Bang Khae.

The MP said this Somkid was one of Apichart's men, who was assigned to establish Siam Indica on January 13, 2004. Further investigation showed that Nimon, Ruangwan and Somkid co-owned a Kasikornbank savings account No 001-0-03796-9. Bank records show money being transferred to this account in the morning and being withdrawn in the afternoon. Varong said he believed these transfers must have been made to launder money in some way.

Varong also played a video clip showing Apichart meeting Thaksin in Malaysia during his October 4-5 visit. He said he had learned that the Commerce Ministry advised rice traders to talk to Apichart if they wanted to get involved with the government's rice trade. He said evidence pointed to Apichart's close ties with politicians, which allowed him to establish a dummy company to facilitate money laundering.

"In a G2G transaction, there should be a letter of credit. But there is no such thing in this case, proving that there is no real trade. Yet, there were a number of money transfers. The prime minister should redeem herself by dismissing the commerce minister, commerce permanent secretary and director-generals of the Foreign Trade Department and Public Warehouse Organisation. She herself should go to the execution ground," he concluded.

Earlier yesterday, Democrat MP Kiat Sittheeamorn also disputed the government's claim that more than 5 million tonnes of rice had been exported, although statistics from relevant state agencies showed that only 4.7 million tonnes were exported.

-- The Nation 2012-11- 27

[Notstupid30]

Are we really that surprised anymore ...

[JurgenG]

Who was the government expecting to fool ? We all know that democrat leader Abhisit is an expert in fake documents

Edited November 26, 2012 by JurgenG

[Buchholz]

a contract to purchase 5 million tonnes of rice

Rathanit was a close aide to Pheu Thai MP Rapeephan Phongruangrong, who is the wife of red-shirt leader Arisman Phongruangrong.

Rathanit, who claimed to be the authorised representative of the Chinese firm, only has Bt64.63 in his bank account

Perhaps Rapeephan used her MP status for monetary value, like she did before, to cover for the minor shortfall between the 64 baht her aide had in his bank account and the millions of baht necessary to secure a contract.

This afternoon, Arisaman's lawyer submitted a new bail application.

The surety for the bail request has been upped to 4 million baht cash on one of his charges.

In another of his cases, his wife, Pheu Thai Party MP Rapipan Pongruangrong offered her MP status as guarantee for 1.3 million baht as collateral.

The court is reviewing the application bail.

http://www.thaivisa....25#entry4909406

.

Edited November 26, 2012 by Buchholz

[dcutman]

This government claiming to have made G to G deals with certain countries and many of those countries deny any deals have been made.

Thailand says in deals to sell rice, buyers deny purchases.

BANGKOK, Sept 12 (Reuters) - Thailand, the world's top rice exporter, said it had signed contracts to sell 7.3 million tonnes of the stockpiled grain to foreign governments in exports from now until late next year, but top importers Indonesia and Philippines denied any deals. http://www.thairiceexporters.or.th

China did not deny a deal, but China typically imports less than 300K tons of rice from Thailand a year, and less than 2 millions tons total a year. Strange.

[Crushdepth]

Corruption in the rice scheme, who would have thought it possible?

[Buchholz]

Corruption in the rice scheme, who would have thought it possible?

Likewise, who'd have thought it possible to have red shirts involved in the middle of it.

.

[Moruya]

Red shirt elite stealing funds from the poor rice farmers?

[Thai at Heart]

Actually some good fat on this bone and some evidence.

[Moruya]

Actually some good fat on this bone and some evidence.

Indeed. It would be a crying shame to have gone to the effort of unearthing all this just to have Yingluck read her prompt cards.

That would be the kind if thing to inspire street protests if people felt democracy wasn't working

[Mosha]

Red shirt elite stealing funds from the poor rice farmers?

Red shirt elites? Perish the thought.

[kalbo123]

Today Bloomberg news: Thailand surpasses India in global rice sales!

[GentlemanJim]

Seems like Arisman was a busy boy whilst he was on the run! These people are raping this country relentlessly. Now where is that thread on Treason again!

[Buchholz]

Today Bloomberg news: Thailand surpasses India in global rice sales!

Actually, they haven't.

It's a future projection.

(For future reference, it's always good to supply a link when citing news)

http://www.bloomberg...pile-sales.html

.

Edited November 27, 2012 by Buchholz

[Soupdragon]

Today Bloomberg news: Thailand surpasses India in global rice sales!

Actual headline doesn't say "Thailand surpasses" it says "Thailand to surpass".

If you actually read the article it is speculative and based on Thailand being forced to sell rice at below market rate possibly forcing down global prices.

EDIT

Buchholz Is a bit quicker on the keyboard than me this morning.

Edited November 27, 2012 by Soupdragon

[GentlemanJim]

Today Bloomberg news: Thailand surpasses India in global rice sales!

The headline reads Thailand TO surpass India as Top Rice shipper on Stockpile sales'!!

“Thailand has little choice but to release stocks and that will probably lead to lower prices,” Concepcion Calpe, a senior economist at the FAO, said from Rome. “There will be growing competition from less important rice-supplying countries, such as Brazil, Russia, Egypt and Australia in the export markets, which will tend to reduce prices in 2013.”

I particularly like the independent Bloomberg take on this one, see bold below

“High stockpiles may force Thailand to sell rice at a cheaper rate in the global market,” Mohanty said. “The world market is already flooded with rice and if Thailand sells below cost, that will weaken prices further.”

Prime Minister Yingluck Shinawatra implemented a price- support policy to boost incomes of farmers who helped her Pheu Thai party win an election last year. The government guaranteed as much as 15,000 baht ($489) a ton for unmilled white rice, about 50 percent more than local market rates, and 20,000 baht for a higher-quality variety.

Did you post in haste Kalbo123 or were you trying to be deliberately misleading?

EDIT

And Soupdragon is quicker than me!

Edited November 27, 2012 by GentlemanJim

[Thai at Heart]

Actually some good fat on this bone and some evidence.

Indeed. It would be a crying shame to have gone to the effort of unearthing all this just to have Yingluck read her prompt cards.

That would be the kind if thing to inspire street protests if people felt democracy wasn't working

Indeed, lots of names and bank account numbers and even a video. Let's see what the mainstream media do with this?

I hope they run and run with it. Might even be worth a trip to China to find this non company.

[Buchholz]

Indeed, lots of names and bank account numbers and even a video. Let's see what the mainstream media do with this?

I hope they run and run with it. Might even be worth a trip to China to find this non company.

It would also certainly be worth interviewing Arisaman's wife and see how her aide's 64 baht was sufficient to land a huge rice deal.

They might even inquire her further as a follow-up to her other dodgy financial transactions.

NACC Queries Arisman's Wife On D Station TV Shares

http://www.thaivisa....tion-tv-shares/

Issan Rambo, Pheu Thai Party MP Rapipan Pongruangrong and her husband Arisaman when he joined the monkhood

"At that time [when she put in her financial report after last year's election], my family was in a severe crisis. Khun Kee [Arisman] was in a foreign country and he did not tell me about the shares," she said.

Did she relay these conversations with a fugitive to the authorities? Or did she aid and abet by concealing them?

"Normally he does not tell me about his problems. He is afraid I may be bothered."

She considers having 2,000,000.00 baht as a "problem"???

She thinks he might think her knowing about 2,000,000.00 baht as something she would be "bothered" by???

Edited November 27, 2012 by Buchholz

[Mosha]

Today Bloomberg news: Thailand surpasses India in global rice sales!

The headline reads Thailand TO surpass India as Top Rice shipper on Stockpile sales'!!

“Thailand has little choice but to release stocks and that will probably lead to lower prices,” Concepcion Calpe, a senior economist at the FAO, said from Rome. “There will be growing competition from less important rice-supplying countries, such as Brazil, Russia, Egypt and Australia in the export markets, which will tend to reduce prices in 2013.”

I particularly like the independent Bloomberg take on this one, see bold below

“High stockpiles may force Thailand to sell rice at a cheaper rate in the global market,” Mohanty said. “The world market is already flooded with rice and if Thailand sells below cost, that will weaken prices further.”

Prime Minister Yingluck Shinawatra implemented a price- support policy to boost incomes of farmers who helped her Pheu Thai party win an election last year. The government guaranteed as much as 15,000 baht ($489) a ton for unmilled white rice, about 50 percent more than local market rates, and 20,000 baht for a higher-quality variety.

Did you post in haste Kalbo123 or were you trying to be deliberately misleading?

EDIT

And Soupdragon is quicker than me!

Force down global prices? Forgive me for being a bit slow. My IQ is a bit low. I thought the Thai policy was meant to increase global prices.

[Moruya]

Force down global prices? Forgive me for being a bit slow. My IQ is a bit low. I thought the Thai policy was meant to increase global prices.

Hahaha!

That's one of the reasons they won't go public with the deal.

The other is the thievery behind the scenes

[Thai at Heart]

Force down global prices? Forgive me for being a bit slow. My IQ is a bit low. I thought the Thai policy was meant to increase global prices.

Hahaha!

That's one of the reasons they won't go public with the deal.

The other is the thievery behind the scenes

They certainly picked the wrong year to try this policy. Everywhere is full, China, India.

How they get out of this no one knows.

[rubl]

She herself should go to the execution ground," he concluded.

Did they setup a pillory there ? (picture from the Wiki page)

[Nickymaster]

Even PT, Thaksin and Red supporters are silenced by the magnitude of this scam. We are most probably witnissing the biggest corruption case in Thai history. The only thing Yingluck can say is: "The poor farmers like it".

Where are you guys? Come on! Defend your heroes.

Edited November 27, 2012 by Nickymaster

[Mosha]

Even PT, Thaksin and Red supporters are silenced by the magnitude of this scam. We are most probably witnissing the biggest corruption case in Thai history. The only thing Yingluck can say is: "The poor farmers like it".

Where are you guys? Come on! Defend your heroes.

Put the kettle on. It could be a long wait.

[DLock]

Red shirt elite stealing funds from the poor rice farmers?

How are the red shirt elites stealing from the "poor rice farmers"?

The rice farmers are getting paid more than their rice crop is worth as part of the election promises.

The Thai Government is now stuck with rice it paid too much for and will ultimately have to sell at a loss which will be supplemented by tax....yours and my tax.

So, it's not the poor farmers. They all drunk on Lao Kao right now at the bumper season.

But soon the farmers will wake up with a massive hangover when they realize the Thai Government has destroyed an industry that was built up over many years. When the Government stops this stupid program and the market is no longer there for Thai rice...then watch the game will change.

[Nickymaster]

Even PT, Thaksin and Red supporters are silenced by the magnitude of this scam. We are most probably witnissing the biggest corruption case in Thai history. The only thing Yingluck can say is: "The poor farmers like it".

Where are you guys? Come on! Defend your heroes.

Put the kettle on. It could be a long wait.

I already found them. They are here: http://www.thaivisa.com/forum/topic/600928-yingluck-touts-her-achievements/

[ridkun]

It is so obvious that this government is trying way too hard to fake their portfolio of rice selling in order to proactively defend their policy, and it's even better for them to get the money along that process. However, no matter there's corruption happening or not, Reds would be silent about it and wait until some point and then claim it once again that they are majority and if you don't like this government so wait for next election. It is hard-wired in their logic.

[bigbamboo]

Oh dear.

Just think about all those trips Ms. Yingluck made abroad and all the meetings she has had with foreign officials to promote Thailand as an upstanding nation with a trustworthy government and then those same foreign officials get to see this plastered all over the international media.

All that hard work gone to waste. Loss of face cannot begin to describe it.

Edited November 27, 2012 by bigbamboo

[overherebc]

Force down global prices? Forgive me for being a bit slow. My IQ is a bit low. I thought the Thai policy was meant to increase global prices.

Hahaha!

That's one of the reasons they won't go public with the deal.

The other is the thievery behind the scenes

They certainly picked the wrong year to try this policy. Everywhere is full, China, India.

How they get out of this no one knows.

How do they get out of this one, easy,

Pay the supporters not to vote for them and then blame it on whoever gets into power.

[Thai at Heart]

Force down global prices? Forgive me for being a bit slow. My IQ is a bit low. I thought the Thai policy was meant to increase global prices.

Hahaha!

That's one of the reasons they won't go public with the deal.

The other is the thievery behind the scenes

They certainly picked the wrong year to try this policy. Everywhere is full, China, India.

How they get out of this no one knows.

How do they get out of this one, easy,

Pay the supporters not to vote for them and then blame it on whoever gets into power.

But the rice will still be there, the warehouses full to bursting, year after year.

There is no one with a shortage anywhere at the moment.