Rayong oil spill: PTTGC may have to pay only 'small compensation'

[Time Traveller]

In respect to the natural resources damaged, it would have to be the "state" that would bring suit wouldn't it, since it is the state deemed to be the "owner" of Thailand's natural resources.

Who owns PTT Global Chemical?

Well, here's a hint, the largest owner is PTT, a state owned asset. PTT the public company owns a 49% interest in an outright manner. PTT also has additional interest in the entities that also are stakeholders in PTTGC. For example, HMC Polymers Company Limited owns just under 2%, but PTT in turn owns 41% of the entity. if one goes down the ownership interests and the tailback to the state, the dominant ownership interest is that of the state. What would the point be of the state suing a company, if it was the state that would ultimately suffer?

The situation is further compounded by the ownership interests in PTTGC of some of Thailand's largest financial interests. For example,Thai NVDR Company Limited owns in excess of 7% of PTTGC, The SET owns this company

It becomes more delicate as the Royal Household has an ownership interest. This interest comes by way of indirect investment vehicles For example, Siam Cement's ownership is just under 2% of PTTGC.

Thailand's national pensions also have an investment stake. Any loss to the pension fund investments would directly impact the pension fun benificiaries which are quite literally tens of millions of Thais who benefit from the pension funds.

Quite a quandry.

Well that's what you deserve when the state owns everything. They themselves are responsible for all that goes wrong.

[belg]

did they not use 6x more chemicals to clean up ?

so they keep the amount of spill low for that reason only

greedy bastards