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Thaksin Flees The Capital ... And Reality


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DEMOCRATS' NEW CLAIM

Win Mark 'PM's own trust fund'

Firm may have been used to hide baht devaluation gains, facilitate deals: Korn

The Democrats suspect that Win Mark Co Ltd could have been Prime Minister Thaksin Shinawatra's personal trust fund, set up to take and hide profits from the 1997 baht devaluation as well as facilitate the family's share transactions.

Only the Anti-Money Laundering Office (AMLO) could trace the money trail that involved Win Mark, Thaksin's daughter Pinthongta, and other funds in order to prove this accusation, Democrat Party deputy leader Korn Chatikavanij said at a press conference yesterday.

Korn remarked that while Thaksin admitted his ownership of Ample Rich Co Ltd, he had denied any close connection to Win Mark. This is despite his sale of shares in his five property arms - including OAI Property, which is now SC Asset Corp - to Win Mark.

Both Ample Rich and Win Mark share the same address - PO Box 3151, Road Town, Tortola, British Virgin Islands - and have conducted similar transactions. In January 2006, Ample Rich sold Shin Corp shares to two of Thaksin's children - Panthongtae and Pinthongta - while in October 2004, Win Mark sold shares in four Thai property companies to Pinthongta.

Korn based his allegation on a speech last month by Snoh Thienthong, a senior member of the Thai Rak Thai Party, in which he said that during the 1997 baht crisis, Thaksin had nominated one of his men to take care of the devaluation. "Thaksin met then-prime minister General Chavalit Yongchaiyudh to nominate Thanong [bidaya], who resigned after the devaluation."

In the statement issued to the press yesterday, the Democrats said Win Mark could have been hiding profits from speculation on the baht. "In 2000, Thaksin said he did not know of the company, but the company shared the same address as Thaksin's Ample Rich. Moreover, Win Mark invested in such a way that the potential gains went to the Shinawatra family. Nobody in investment circles could in any way believe that any fund would be glad to do such a thing."

In 2000, Thaksin said he had sold to Win Mark shares in three property companies - OAI Property, PT Corp and SCK Asset - for a combined Bt906 million.

However, the Democrats have found that Win Mark also held shares in two other companies - SC Office Park Co Ltd and Worth Supplies Co Ltd. Total investment in the five firms was Bt1.5 billion.

Korn also remarked that the transaction had coincidentally occurred after the baht's flotation.

In his 2000 statement, Thaksin said Win Mark had bought the shares on expectation of reaping profits when the firms were listed.

However, the Democrats said Win Mark had sold shares in OAI Property to Value Asset Fund Ltd Malaysia (VAF) in 2003, and, three weeks later, VAF had sold the shares to Overseas Globe Fund (OGF) and Offshore Dynamic Fund Inc (ODF).

"What's weird is that the three funds share the same address - L1, Lot7, Blk F, Saguking Commercial Building, Lalan Patau, 8700 Labuan Ft, Malaysia. Moreover, why did Win Mark, which owned the shares for three years, sell the shares of OAI Property when the latter was about to seek a listing?" Korn added.

Additionally, in 2003, VAF transferred the right to buy 70 million new shares of OAI at their Bt10 par value to Thaksin's daughters, Pinthongta and Paethongtarn. Based on the initial public offering price of Bt15 per share, the two children automatically netted Bt355 million in profits.

The Democrats also pointed out that despite the transaction with VAF, Win Mark maintained ownership in the other four companies for another year, although none of them could seek a market listing.

"Khun Thaksin said in 2000 that the share sale was not meant for money laundering because his money is clean. The Democrats would like to ask Khun Thaksin if he is ready to allow AMLO to investigate the money trail that involves Win Mark, VAF, OGF, ODF, SC Asset and Pinthongta," Korn said.

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Siriporn Chanjindamanee

The Nation 9.3.2006

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:D

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Both Ample Rich and Win Mark share the same address - PO Box 3151, Road Town, Tortola, British Virgin Islands

If you do a quick search of "Box 3151, Road Town, Tortola, British Virgin Islands", you will find out that it's just an reporting address used for offshore companies. IE:- you have to have a BVI address to have a BVI company it's a formality of the registration process. The use of a common reporting address is common practice everywhere and in itself cannot show a relationship between addressees. Although it does look fishy in this case.

It appears that PO boxes on Town Road are the most popular with Bank of Nova Scotia, Barclays Bank, Chase Manhattan Bank and a long list of others. The London International Bank and Trust Company uses PO Box 3151, Road Town, Tortola, BVI as well.

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Thaksin Flees The Capital ...

"Come on boys, I've got a tank full of gas and offshore accounts no one knows about yet.

Sweet Burma here we come!"

thaksin_m.jpg

PM to be out of town for Tuesday rally

(TNA) - Caretaker Prime Minister Thaksin Shinawatra will not be at Government House next Tuesday but will conduct the weekly cabinet meeting by video from up-country, as thousands of anti-Thaksin demonstrators are expected to gather just outside the gates that day.

The People's Alliance for Democracy (PAD) plans to stage another major rally outside Government House Tuesday, part of their sustained bid to press Thailand's caretaker prime minister to step down in the face of the Shin Corp stock sell-off and tax-evasion allegations.

Mr. Thaksin is scheduled to visit Ubon Ratchathani on Monday and will hold the cabinet meeting in an interactive video conference mode with other ministers attending at Government House Tuesday.

The caretaker prime minister is scheduled to visit Ubon Ratchathani on his election campaign stops and proceed to Buri Ram later in the day. Mr. Thaksin plans to visit Nakhon Ratchasima next Wednesday.

The caretaker prime minister will hold a meeting of the Thai Rak Thai Party this Friday (March 10) and visit Nakhon Pathom as part of his campaign for the April 2 general election Saturday.

Mr. Thaksin is scheduled to deliver a campaign speech at Chatuchak Weekend Market Sunday.

Bangkok Post

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While the PAD is making lots of noise the opposition parties have been awfully quiet lately, I wouldn't be surprised if we soon see a compromise with the opposition parties deciding to join the elections after all. They couldn't possibly benefit from surrendering all their seats and they sure have a good chance of winning quite a few more than they had before the house was dissolved.

BTW britainmal, your post is probably the best analysis of the current situation I have read on this board in recent days, spot on :o

The opposition has been trying to go around the country explaining it's reasons for boycotting the election. Not possible for some type of compromise as it's too late now for the opposition to join the election as the registration deadline has passed. With the passing of the deadline, some constituencies only have 1 candidate. In those districts if the candidate fails to receive 20% of ALL eligible votes, it's invalid.

By making the election invalid, the boycott will have proven to be the correct move. That has been the whole point of the boycott... to show the Thai people and the world that's observing that this "election" has been a sham... same as the Nepal election of 3 weeks ago and same as other historical "elections" held by despotic rulers to attempt to legitimize their regimes.

It's all reminded me of taking the ex-wife to the ballot booth in the Philippines... while an Army soldier, armed with a locked and loaded M-16 on full auto, peered over her shoulder to make sure she made a legal tick inside the box with the one name on the ballot,

Ferdinand E. Marcos.

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Thaksin, who was on his election campaign tour, admitted that it would be hard work for Thai Rak Thai to campaign in 131 constituencies, where there are only Thai Rak Thai candidates.

He said the Thai Rak Thai would have to work hard to urge voters to exercise their rights in these constituencies so that the party candidates would receive at least 20 per cent of eligible voters' votes to win the elections.

- TN

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It's all reminded me of taking the ex-wife to the ballot booth in the Philippines... while an Army soldier, armed with a locked and loaded M-16 on full auto, peered over her shoulder to make sure she made a legal tick inside the box with the one name on the ballot,

Ferdinand E. Marcos.

Good analogy :o I thought the original opposition belief was that most Thais were too stupid to vote correctly in an election, but now you're claiming they're forced by the military?

Edited by gurkle
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Thaksin flees the capital . . . and reality

Sums it all up really, reality ends at the Bangkok City Limits. The views and votes of the population beyond count for nothing.

As the majority of people don't live in Bangkok, don't they count as part of the population? Or do only democratic voters count as people?

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It's all reminded me of taking the ex-wife to the ballot booth in the Philippines... while an Army soldier, armed with a locked and loaded M-16 on full auto, peered over her shoulder to make sure she made a legal tick inside the box with the one name on the ballot,

Ferdinand E. Marcos.

Good analogy

Thank you.

Winners of many elections with only one candidate often use it to proclaim legitimacy to their regimes.

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If you do a quick search of "Box 3151, Road Town, Tortola, British Virgin Islands", you will find out that it's just an reporting address used for offshore companies. IE:- you have to have a BVI address to have a BVI company it's a formality of the registration process. The use of a common reporting address is common practice everywhere and in itself cannot show a relationship between addressees. Although it does look fishy in this case.

Agreed, and while they may be related, it is equally possible that other friends or members of TS's family, simply used the same lawyer or mentioned the dodge to one another over a game of golf. Certainly worth looking-into, however.

It's all reminded me of taking the ex-wife to the ballot booth in the Philippines... while an Army soldier, armed with a locked and loaded M-16 on full auto, peered over her shoulder to make sure she made a legal tick inside the box with the one name on the ballot,

Ferdinand E. Marcos.

Good analogy :o I thought the original opposition belief was that most Thais were too stupid to vote correctly in an election, but now you're claiming they're forced by the military?

That's two misunderstandings in one sentance. Are you going for a new record here ? :D

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It's all reminded me of taking the ex-wife to the ballot booth in the Philippines... while an Army soldier, armed with a locked and loaded M-16 on full auto, peered over her shoulder to make sure she made a legal tick inside the box with the one name on the ballot,

Ferdinand E. Marcos.

Good analogy

Thank you.

Winners of many elections with only one candidate often use it to proclaim legitimacy to their regimes.

Thaksin can't help it if the opposition won't run because they have no chance of ever winning.

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If you do a quick search of "Box 3151, Road Town, Tortola, British Virgin Islands", you will find out that it's just an reporting address used for offshore companies. IE:- you have to have a BVI address to have a BVI company it's a formality of the registration process. The use of a common reporting address is common practice everywhere and in itself cannot show a relationship between addressees. Although it does look fishy in this case.

Agreed, and while they may be related, it is equally possible that other friends or members of TS's family, simply used the same lawyer or mentioned the dodge to one another over a game of golf. Certainly worth looking-into, however.

Having my own shovel, I did some more digging. All PO boxes regardless of number are situated at the Road Town Post Office on Main Street. One of the registry offices is situated upstairs. One online company will give you this for 525 Pounds ...

BVI Offshore Company Formation:

The incorporation of a BVI company normally takes 2 to 5 working days.

Search name availability for your BVI IBC.

Payment of first year's government fees.

No documents to sign.

Applicant appointed as company founding Director.

Applicant appointed as company Shareholder.

Company Shareholder & Director appointed electronically.

US$50,000.00 Authorised Share Capital.

Preparation & filing of Memorandum & Articles of Association at Registry.

BVI Registered Agent & Registered Office fees for the first year.

The following documents will be delivered via FedEx or DHL:

Certificate of Incorporation.

Printed bound copy of Memorandum & Articles of Association.

Minutes of the First Meeting of the Board of Directors.

Issuance of shares.

Register of Shareholders.

Register of Directors, Secretaries.

Company seal.

Share Certificates.

Renewal Fees (payable annually from the second year): Registered Address, Government fees.

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Thaksin can't help it if the opposition won't run because they have no chance of ever winning.

you got it all wrong man!, its not about winning, its not about the election, its not about TRT, Its about Mr.T is not fit too be a leader anymore, how can you admit that a person trying to avoid paying tax for the country, among other thing, is fit to be a PM, what good sample is that for the people, where is the moral. :o

Mr.T is smart person, if only he use his skill to help the country, Thailand would be in good hand, he would be a great leader remember by the people, but greediness take a better part out of him. :D

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Thaksin can't help it if the opposition won't run because they have no chance of ever winning.

###### pesky things like policies and the battle for ideas.

Elections are so much easier when you can rely on 500 baht and a TRT T-shirt to win ones vote.

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Thaksin can't help it if the opposition won't run because they have no chance of ever winning.

how can you admit that a person trying to avoid paying tax for the country, among other thing, is fit to be a PM, what good sample is that for the people, where is the moral. :o

A similar situation happened in Canada this Year. The Liberal government was mired in corruption and payoffs, the PM moved his shipping companies offshore to avoid paying Canadian taxes. The government went down to a no confidence vote. They called the shortest election in history which also coincided with the Christmas New Years holiday. The opposition parties did not run and hide or boycott the election they got on their bikes and peddled like hel_l. When the smoke cleared on election night the Liberals were history and a new, although not majority, Conservative government was formed and the PM resigned as the leader of the Liberal Party. That's how it's done.

The opposition parties in Thailand have really given up a golden opportunity to do the same thing and possibly form a new coalition government. They may have sealed their political future to obscurity by not acting when they had the advantage. Rather than beat the bushes and rally the troops in the rural areas, they have sat on their hands in the city where the majority of voters are not located with a one tunnel vision platform and no viable answers. If TS is not fit to lead the country then the opposition leaders are sitting in the same boat. None of them have shown me they deserve to lead anything let alone a country.

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Elections are so much easier when you can rely on 500 baht and a TRT T-shirt to win ones vote.

Elections are easy when you have no opponents to run against, but it's a little naive to think TRT invented vote buying, or that any of his opposition parties would have won a single seat in the house in the last elections if they had not engaged in vote buying.

Vote buying is something that can't be avoided if you wish to win seats. It's also illegal, immoral and against the rules. Since all opposition parties are clearly guilty of having done the same things they are just as unfit for office as Thaksin is and all these moralistic high horse attitudes of his opponents are a joke.

Perhaps the opposition is simply refusing to run because they can't raise the cash to buy enough votes on such short notice? :o

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Elections are so much easier when you can rely on 500 baht and a TRT T-shirt to win ones vote.

Elections are easy when you have no opponents to run against, but it's a little naive to think TRT invented vote buying, or that any of his opposition parties would have won a single seat in the house in the last elections if they had not engaged in vote buying.

Vote buying is something that can't be avoided if you wish to win seats. It's also illegal, immoral and against the rules. Since all opposition parties are clearly guilty of having done the same things they are just as unfit for office as Thaksin is and all these moralistic high horse attitudes of his opponents are a joke.

Perhaps the opposition is simply refusing to run because they can't raise the cash to buy enough votes on such short notice? :o

All the polling seems to indicate that Thaksin will win, and not just by a little bit. So if they're going to get handed a huge loss, it's better to say they boycotted and the vote means nothing. Then they can keep holding rallies and calling for his resignation.

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Perhaps the opposition is simply refusing to run because they can't raise the cash to buy enough votes on such short notice? :o

All the polling seems to indicate that Thaksin will win, and not just by a little bit. So if they're going to get handed a huge loss, it's better to say they boycotted and the vote means nothing. Then they can keep holding rallies and calling for his resignation.

it is not out of line to consider it is just prudent fiscal

management on the opposition parties. after april 2,

there is supposed to be another shortly after (first it

was 6 months, then 15 months later - who knows).

if you take this into consideration, the short notice,

the possibility that the election can be successfully

invalidated by not meeting the 20% turnout requirements

in no-contest districts, the decision to boycot is far

from irrational.

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Lukamar, you are comparing Candian elections and Canadian electorate to Thais. Do you think it would be possible in Canada, in case Conseravtives boycotted elections, that Liberals registered fake "opposition" candidates themselves?

It's Zimbabwe out there, not Canada.

You forgot to mention that it was Mr. Taksin who DECREASED the ownership from 49 to 25% first, in 2001.-

That was in 2001, which was over 5 years ago.

People do change.

Especially when they can make a lot of money out of it. You can't be serious.

More nonsense. Though strictly speaking it might have little to do with foreign ownership per se, but it has ALL to do with opening telecom sector to foreigners

- We are taking about foreign ownership of the a business not issuing a license to operate a phone service.

That means that all the foreigners are allowed to do it prop up Thai operators. I thought you were talking about open markets here, not subsidies for Thai companies.

NTC issues licenses to all new operators. No NTC, no licenses, and without NBC there will be no 3G licenses. With senate elections due on April 19 there's no chance that NBC will even be formed this year, let along start working.-Well, if that is the case how did that HK telcom company get a license to operate in Thailand.

I don't remember how exactly they entered the market. They don't have a license though - they are in partnership with CAT who itself used to issue consenssions to telephone operators - like Orange and Dtac.

Conversion of those consessions into licenses is the major headache for NTC now.

Hutch, btw, is being squeezed out, and Orange has left. That is the REAL result of "open telecom" policies of Taksin.

I am just enlightening your ignorant mind Mr Plus. I don't think they should oust Thaksin just because a portion of Thailand's population is zenophobic of the ideal of a foreign company owning 49 percent of a Thai Company, which he founded. Those idiots protested outside the Singaporean Embassy saying Thailand is for the Thais'. Is this real realistc? Wake up Mr. Plus.

The main point is Taksin's legitimacy. Protesters showed up at Singaporean embassy nearly two months after the deal.

And please enlighten my ignorant mind about that 49% ownership. There are articles in today's papers questioning the legitimacy of Thai partners in Shin sale deal - they are just fronts and Thais have less than 10% of voting rights on their boards.

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Lukamar, you are comparing Canadian elections and Canadian electorate to Thais.

Do you think it would be possible in Canada, in case Conseravtives boycotted elections, that Liberals registered fake "opposition" candidates themselves?

It's not too long ago that all the parties used to buy the voter cards of the Canadian electorate with a 10 cent glass of beer. Thailand is not the only country that is or was corrupt.

If you are the opposition in any country you win votes by getting out there and stumping. Not just during an election campaign but starting the day after. The opposition has done none of that over the last year all they have done is alienate the majority or the rural vote by calling them stupid, ignorant and ill informed. If the rural people "ARE" ignorant it was up to the opposition parties to educate them, not the TRT. The fact is they have not bothered to do that. They figured they had 3 more years to get organized and they got caught with their pants down with an end run.

The Electoral Commission has stated that it will look into all candidates for proper paperwork. You can't point an inquisitorial finger unless you can prove it in a court of law. This isn't the French Inquisition. Fake candidates maybe, but the constantly changing, attack minded, no compromise opposition, always sounds like they are complaining of Sour Apples.

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if you take this into consideration, the short notice,

the possibility that the election can be successfully

invalidated by not meeting the 20% turnout requirements

in no-contest districts, the decision to boycot is far

from irrational.

The election won't be invalidated if the 20% turn-out in a no contest district isn't met, it will mean that an unlimited number of by-elections has to be held in those districts until the 500 seats are filled. In the mean time Thaksin will remain care-taker PM as it's pretty obvious he's not going to resign and it doesn't seem likely anyone is going to make him.

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Lukamar, you are comparing Canadian elections and Canadian electorate to Thais.

Do you think it would be possible in Canada, in case Conseravtives boycotted elections, that Liberals registered fake "opposition" candidates themselves?

It's not too long ago that all the parties used to buy the voter cards of the Canadian electorate with a 10 cent glass of beer. Thailand is not the only country that is or was corrupt.

Just how many years ago was that?? If we were discussing 1923 world politics, it might have some validity... but we're discussing the reality of Thailand in 2006.

If you are the opposition in any country you win votes by getting out there and stumping. Not just during an election campaign but starting the day after. The opposition has done none of that over the last year all they have done is alienate the majority or the rural vote by calling them stupid, ignorant and ill informed.

I think the only actual quote of someone calling a group of people those type of names belongs to Thaksin saying that of those opposed to him. Of course, if you can find a source to cite your claim, I'm more than willing to check it out. Thank you for keeping future posts accurate and factual.

The Electoral Commission has stated that it will look into all candidates for proper paperwork.

well then, THAT'S reassuring... as their impeccable history confirms their unbiased and independent functioning. :o

You can't point an inquisitorial finger unless you can prove it in a court of law. This isn't the French Inquisition. Fake candidates maybe, but the constantly changing, attack minded, no compromise opposition, always sounds like they are complaining of Sour Apples.

The opposition changes it's attacks to reflect the PM's own indecisiveness...as he's always changing things mid-stream...

but perhaps their complaints do sound like Sour Apples to someone who believes:

AOFT will NOT do:-

"Rock the Boat" with the government.

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if you take this into consideration, the short notice,

the possibility that the election can be successfully

invalidated by not meeting the 20% turnout requirements

in no-contest districts, the decision to boycot is far

from irrational.

The election won't be invalidated if the 20% turn-out in a no contest district isn't met, it will mean that an unlimited number of by-elections has to be held in those districts until the 500 seats are filled. In the mean time Thaksin will remain care-taker PM as it's pretty obvious he's not going to resign and it doesn't seem likely anyone is going to make him.

What's the deadline to conduct the by-elections? Indefinitely? Particularly regarding the Southern constituencies and their intense dislike of the TRT, I could see it taking months, if not years, to finally come up with 20% participation. If there are not full 500 MP's from ALL districts, Parliment can not sit. I believe this will create a constitutional crisis.

As for the PM not resigning, he's given plenty of evidence over the past 3 months that nothing is beyond the realm of possibilities concerning him.

Edited by sriracha john
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AFAIK there is no limit on the number of by-elections that can be held so it could go on indefinitely, in which case the current care-taker government could remain in power indefinitely.

But like you said, nothing is beyond the realm of possibilities and there may be some loophole, exception or compromise that could be made to move things along if the 20% isn't met.

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Thai PM accuses critics of resorting to black magic

BANGKOK, Thailand (AP) _ Street protests are one thing,

but black magic is another. Embattled Thai Prime Minister

Thaksin Shinawatra, a firm believer in astrology and the

occult, conceded Tuesday that the stars have not been in

his favor lately but said his political enemies were taking

it a step too far. «They are using all kinds of means to

try and destroy me, including black magic and the

supernatural,» he told a meeting of civil servants at

Government House. Without naming names, Thaksin said his

critics were using photographs and voodoo-like dolls to

cast spells. «But don't worry, I have talismans and

various Buddha amulets with me to ward off their magic.»

Tens of thousands of anti-Thaksin demonstrators have

protested daily, accusing Thaksin of corruption and calling

for his resignation. Thaksin has denied wrongdoing and said

all his good deeds for the country would help him through,

giving him «good karma to protect from evil.»

100724 mar 06GMT

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Thai PM's son fined for wrongdoing in Shin Corp deal,

market regulator says

BANGKOK, Thailand (AP) _ Thai Prime Minister Thaksin

Shinawatra's son will be fined nearly 6 million baht

(US$150,000, ¤130,000) for wrongdoing in the sale of his

Shin Corp. shares, stock market regulator said Friday.

Thailand's Securities & Exchange Commission said

Phantongtae Shinawatra had failed to fully disclose

transactions related to his Shin holdings before

Singapore's Temasek Holdings bought the controlling stake

in the telecom firm. A growing movement to force Thaksin

from office swelled last month after his family announced

the tax-free sale of its 49.6 percent stake in Shin for

73.3 billion baht (US$1.9 billion; euro1.55 billion). The

sale was the biggest ever of a publicly owned Thai company.

100956 mar 06GMT

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Re. 20% of votes - I think we have a major misunderstanding here - 20% is the minimal requirement only for constituences where there's only one registered candidate.

That's why TRT registered fake opposition people from god knows where so that they don't need to collect 20% of votes.

They registered them only in those places where TRT can't get those 20% - the South and some Central constituences, and none in the North East, for example.

There are ridiculous stories of some candidates having trouble with application forms - they didn't know their party leaders or party slogans and had to make phone calls to fill the forms properly.

Their party memebrship papers are forged. Some have been known to be TRT members up until now, and then there is a group of people who all became various parties members on the same date - May 10 last year.

What is the Election Commission going to do about that? Not much. They'll look into it, they'll investigate. No one will bother AFTER the elections - they don't investigate losers.

Even if the EC eventually manages to disqualify some of those fakes it will be irrelevant - I don't think they will nullify the elections and ask "opposition" to to register real candidates.

Bottom line - EC promised that it would do everything it can to assure that 500 MPs are elected. I guess that involves letting the fakes to stand elections and avoid 20% trap.

Do they do that in Canada?

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Re. 20% of votes - I think we have a major misunderstanding here - 20% is the minimal requirement only for constituences where there's only one registered candidate.

Do TRT candidates now have an opponent in every constituency?

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