Thaksin: I'm Old And Already Retired

[george]

Thaksin: I'm already retired

BANGKOK: -- Prime Minister Thaksin Shinawatra told reporters today he is "old and already retired," and they should stop asking him about the prospects of a political comeback.

The reporters found Mr Thaksin at a Bangkok driving range, where he was to play golf with some Thai Rak Thai Party officials.

That is when he addressed them:

"Why are you waiting for me? You don't need to follow me, I'm old and already retired."

--Bangkok Post 2006-05-04

[bulmercke]

This doesn't surprise me.

Contrary to what most other political observers have said, I'll predict that he'll be completely out of Thai politics within a year - either by design or because of mitigating circumstances. If you look closely at his past, then there are indicators to suggest this.

He's definitely 'his own man' and, furthermore, he's not afraid to make abrupt changes in his business and political interests AND career if he and his wife feel it's the right thing to do at the time.

However, at the moment, I think his up-most concern is protecting his assets through political leverage and influence...so he'll probably want to stay in politics for a little while longer!

[ando]

I would be very surprised if he were not heavily involved in campaining for TRT in any new election. Wheather he drops right out of the political scene or remains a key player probably depends on who wins the next election.

[penzman]

Old and retired, a continuation of his " I am unemployed" trick...

He's got everyone playing the guessing game again as he's openly lied to journalists so many times before.

[stumonster]

Old and retired, a continuation of his " I am unemployed" trick...

He's got everyone playing the guessing game again as he's openly lied to journalists so many times before.

no guessing required - he will continue to do what he has to do to keep feeding his coffers . he still has not tied down the casino licences yet, and his wife has to put something on that plot of land next to RCA.

[joe beets]

How can we miss you if you won't go away?

jb

[Ahnsahn]

How can we miss you if you won't go away?

Right-on!!!

[Sandstone Art]

He will 'pounced' when the rest of the opposition let their guards down.

Never believe that man. He does not live up to what he said. Always.

[jumbo]

I saw a movie once, the godfather 2 in which somebody claimed he was old and retired

[ando]

Thaksin is stupid like a fox.

[george]

Thaksin refuses to discuss future

Won't say whether he will reclaim top post

BANGKOK: -- Caretaker Prime Minister Thaksin Shinawatra continues to keep people guessing about his decision whether to return to power after the next general election. Mr Thaksin has kept a low profile since announcing he would step aside from politics, to tame growing opposition against him. He evaded the point yesterday when asked if he had considered contesting the next poll and possibly coming back as prime minister.

''No interview today. I left my mouth at the Tia Utai residence [in Beijing where important guests of the Chinese government stay],'' he said.

Mr Thaksin added he did not understand why he was still being hounded by reporters. ''I'm old and retired. Let the younger chaps run things,'' Mr Thaksin said. A cheerful Mr Thaksin played a round of golf outside Bangkok yesterday with key figures of the ruling Thai Rak Thai party.

He also met legal experts of his party yesterday to discuss the possibility of the courts nullifying the April 2 general election in which Thai Rak Thai ran virtually unopposed.

Mr Thaksin has delegated most of his prime ministerial responsibilities to his deputy Chidchai Wannasathit, taking back the prime minister's hat only when he attends important ceremonies.

Mr Thaksin's political clout is being put to its toughest test after he was forced to go into a ''retreat'' by opponents who accused him of being unethical and orienting state policies to benefit his business empire and his cronies.

His former ally, Sanoh Thienthong, former leader of the powerful Wang Nam Yen faction in the Thai Rak Thai, was booked for a separate golf game at the same course. The two men, however, missed each other as they played at different times. Mr Sanoh broke away from the Thai Rak Thai to set up his own party, Pracharaj.

--Bangkok Post 2006-05-07

[stoneman]

I trhink that one possible reason the Taksin holds on to power is because if he relinquishes this power, he leaves himself open to all types of litigation and possible criminal charges for some of his actions...He needs to negotiate his retirement and he could do this with a new TRT team in power...This is the same type of scenario that played out during Marcos's fall from power...

[bulmercke]

I trhink that one possible reason the Taksin holds on to power is because if he relinquishes this power, he leaves himself open to all types of litigation and possible criminal charges for some of his actions...He needs to negotiate his retirement and he could do this with a new TRT team in power...This is the same type of scenario that played out during Marcos's fall from power...

Exactly.

[bquick]

old retired trickster. my ass.

[sriracha john]

Caretaker Prime Minister Thaksin Shinawatra is driven to the green for a round of golf yesterday. He has refrained from commenting on the prospect of his returning to the top job after the next general election.

...however, after finishing his round of golf with a 39-over par score, 111, the

Bangkok Herald-Examiner overheard Thaksin telling his caddy....

"D@mn it!.... I suck at everything and screw everything up lately..."

[bulmercke]

Caretaker Prime Minister Thaksin Shinawatra is driven to the green for a round of golf yesterday. He has refrained from commenting on the prospect of his returning to the top job after the next general election.

...however, after finishing his round of golf with a 39-over par score, 111, the

Bangkok Herald-Examiner overheard Thaksin telling his caddy....

"D@mn it!.... I suck at everything and screw everything up lately..."

Well despite his obvious business acumen and expertise -

(not to be confused with the dictionary definition of acumen: superior mental intelligence which he glaringly doesn't possess)

........it appears he's a crap golfer! .

[Heng]

I'm sure their assets are quite secure all over the planet by now (it's a piece of cake in this day and age... especially for transactions that don't even involve any actual cash), he doesn't need political clout to keep it. Retirement is the best option financially. It's just a question of whether he got addicted to power while he was in power.

[Plus]

Are you sure he can move 70+ billions of baht out of the country without registering transactions with authorities?

His other assets might be well protected though.

[ColPyat]

Are you sure he can move 70+ billions of baht out of the country without registering transactions with authorities?

Don't know, but did these billions ever enter the country?

[Plus]

I think that was Central's Bank explanation of money inflow back in January - to prepare for Shin takeover.

Thai banks took part in the deal, I think the money is already here.

Somewhere in today's news Democrats economic adviser mentioned about 20bln withdrawal that caused some cash flow problems, and wasn't reported at all.

I'm sure all the regulators and related agencies are working to protect Thaksin and keep everything quiet, at least as long as it's within borders and need not to be legally disclosed.

I don't think Thaksin is going to actively engage in politics again. Several reasons - for him it's either all or nothing; there's no new challenges, he's been there already; his mood has changed after the break, the same stuff - election tactics, or cabinet reshuffles doesn't excite him anymore;Thaksin is not a professional, lifetime politician; enjoying life is a lot more pleasant than jumping in the ring with PAD and their followers again.

He might try, but if his heart is not there anymore, he'll fade away rather soon. Running TRT from behind the curtains is not a part time job, and payoff is uncertain - look at Snoh and Sanan.

[ColPyat]

I think that was Central's Bank explanation of money inflow back in January - to prepare for Shin takeover.

I don't know, but i thought that capital inflow was for the tender offers, and not for Thaksin's shares. As far as i have read there is still specualtion on where that money actually is. I have read that is is in fonds and accounts outside. But then, i am not exactly an economical expert.

At this present moment i will not speculate on Thaksin coming back or not. I don't know, i do not have the necessary insider information. I personally doubt that Thaksin himself has made up his mind, i guess that he just plays wait and see, and will decide when things are more clear.

[Heng]

I think that was Central's Bank explanation of money inflow back in January - to prepare for Shin takeover.

Thai banks took part in the deal, I think the money is already here.

A good number of average middle class Thai families keeps a good portion of their funds offshore (one reason why your typical Singaporean bank has the minimum deposit for Thai Baht at 500,000 to open a fixed account while most other currencies are just the equivalent of $3000 USD..... take in a little shopping, add another account, back in Bangkok/Chiang Mai/Phuket before dinner...), I doubt the Shinawatras are any different. The whingers probably WISH he didn't have the common sense to keep his funds in places with low currency controls (not Thailand), as even average Thais do.

[ColPyat]

while most other currencies are just the equivalent of $3000 USD.....

HSBC Singapore minimum monthly balance of a US$ savings account is 1000 US$.

Minimum amount required to open is 500 US$.

[Plus]

Yes, but what about that particular transaction? Temasek acted through Thai companies with involvement of Thai banks. Is it possible to finalise the whole deal without bringing money in the country?

It's the largest ever transaction in Thailand, and we know nothing.

[Old Man River]

Yes, but what about that particular transaction? Temasek acted through Thai companies with involvement of Thai banks. Is it possible to finalise the whole deal without bringing money in the country?

It's the largest ever transaction in Thailand, and we know nothing.

As already mentioned, the funds that came into Thailand were for the tender offers to finalize the transaction. As it relates to the Shinawatra side, since the owners of record were offshore corporations, the funds paid would have to be to these offshore companies. Theoretically, they don't have to bring any of it back as no taxes are owed on the transaction.

[Phil Conners]

Any chance the US might take him on? I recall they took on Marcos some years ago. From where I see the situation isn't that different.

[Plus]

the funds that came into Thailand were for the tender offers to finalize the transaction. As it relates to the Shinawatra side, since the owners of record were offshore corporations, the funds paid would have to be to these offshore companies. Theoretically, they don't have to bring any of it back as no taxes are owed on the transaction.

That's not correct, the owners where Shinawatras themselves, they consolidated all their holdings and put them in their personal names just prior to the sale, which was a transaction recorded on Thai Stock Exchange. Some taxes WERE paid - VAT on brokers fees or something.

[sriracha john]

Issued just prior to the Constitution Court throwing out the election (see Supreme Court thread)

Caretaker PM remains tight-lipped over his political future

Caretaker Prime Minister Thaksin Shinawatra still holds his card close to his chest when asked about his political future.

Pol. Lt. Co. Thaksin refused to say if he would make a political comeback. He said, however, that he had a lot of energy left because he was not working now.

The Thai Rak Thai (TRT) Party leader also declined comments on the political situation, saying he should rather not because he was “jobless”.

- TNNBPRD

[Heng]

while most other currencies are just the equivalent of $3000 USD.....

HSBC Singapore minimum monthly balance of a US$ savings account is 1000 US$.

Minimum amount required to open is 500 US$.

Fixed at DBS is 500,000 THB and around $3000 USD equivalent for most other currencies.

Last time I was at HSBC in Singapore, the minimum to open a fixed foreign currency account (with foreign currency: Thai Baht) in hand the rates were similar. I'm pretty sure they are even higher now.

[ColPyat]

while most other currencies are just the equivalent of $3000 USD.....

HSBC Singapore minimum monthly balance of a US$ savings account is 1000 US$.

Minimum amount required to open is 500 US$.

Fixed at DBS is 500,000 THB and around $3000 USD equivalent for most other currencies.

Last time I was at HSBC in Singapore, the minimum to open a fixed foreign currency account (with foreign currency: Thai Baht) in hand the rates were similar. I'm pretty sure they are even higher now.

From their website - http://www.hsbc.com.sg/sg/personal/deposit...cc/default.htm:

Foreign currency savings account

The account to help you manage your foreign currency needs

Benefits and features

Wide range of major currencies

Attractive daily interest

Easy-to-read monthly statements

Minimum of US$500 (or its equivalent) to open an account

Foreign Currency Savings Account

You can select from a wide range of major currencies:

Type of currency

Average balance

US dollar

1,000

Sterling

600

Australian dollar

1,300

Hong Kong dollar

7,800

Japanese yen

100,000

Euro

1,000