Thailand: PTT CEO Pailin blasts 'hate speech', fears 'failed state'

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Pailin blasts 'hate speech', fears 'failed state'
WATCHARAPONG THONGRUNG
THE NATION

BANGKOK: -- The chief executive of energy giant PTT, Pailin Chuchottaworn, warns that Thailand could follow the "Arab Spring" countries to become a "failed state" and face a prolonged economic malaise if the political instability lingers on and escalates, The Nation's Watcharapong Thongrung reports.

THE NATION: HOW DOES PTT SEE ITS ROLE IN THE CURRENT POLITICAL CONFLICTS?

Pailin: We can't take sides. We are non-partisan, because it's written so in the state-enterprise law.

There have been some allegations that we prohibit our staff or the Amazon coffee shops from doing this or that - I take this as a cause of hatred. Over the Internet, there is so-called hate speech. Since we have liberated media that that are outside the control of law, there have been attempts to create hatred and spread it [to the general public].

In many countries there are laws that oppose hate speech, but our country is still learning about it. However, if I find misleading information, I have to pursue legal action.

THERE IS AN EXPECTATION THAT IF THE CURRENT POLITICAL SITUATION IS PROLONGED FOR MORE THAN SIX MONTHS, THE ECONOMY WILL BE HIT HARD. WILL PTT ADJUST ITS PLANS TO COPE WITH THIS SCENARIO, AND IF SO, HOW?

If we anticipate a big impact, we will definitely adjust our plans accordingly. But I'm rather afraid that the situation has already gone far beyond it the point of no return. Taking "Arab Spring" countries such as Tunisia and Syria as a case study, none of them has yet been able to return [to normal].

From being a country that had earned huge incomes from tourism, Egypt, for example, has seen its tourism industry ground down to zero. We're moving quickly to that point. I think if it continues like this for a while, the consequences will be unpredictable. I myself dare not think about it. I'm very worried.

In the case of the Arab Spring, Westerners still call them "failed states". If we think we should allow the problem to go towards its extreme … out of fairness or whatever … it will be useless to talk about anything when that day arrives.

HOW WILL THE ENERGY SECTOR BE AFFECTED?

The energy sector will be among the last to be hit. The tourism, automobile and construction industries are among the first. We also need to weigh whether the currency's depreciation will help boost the export sector [enough to] offset impacts on other sectors.

WILL PTT'S INVESTMENT PLAN BE AFFECTED IF THE COUNTRY HAS A CARETAKER GOVERNMENT FOR TOO LONG?

PTT's investment plan doesn't have to be approved by the Cabinet, as is the case with other state enterprises. We usually review our five-year investment plan annually.

At the moment, we are still following the same plan that was approved at the end of last year. Nevertheless, if there is a substantial economic impact, our board of directors can move up the revision schedule.

WHY HAS PTT'S HEAD OFFICE BECOME A TARGET OF "OCCUPATION" BY ANTI-GOVERNMENT PROTESTERS?

It's now the fourth week that we can't go to work at our headquarters. The attacking points concern "reform" of the energy sector. But I understand [the verbal attacks] have occurred only on the People's Army stage, there has been no speech about energy reform on the main stages hosted by the People's Democratic Reform Committee.

There are also many allegations in the online media. Many are old issues that have been repeated over and over again, with an intention to create hatred. The reason for using energy topics might be that they want to make a link to politics, and to former prime minister Thaksin Shinawatra.

As a matter of fact, we are a public company that is governed by the Public Company Act, and in other roles, a state enterprise under state-enterprise laws. Our work can be checked and investigated. It's transparent. The names of our shareholders can be investigated. One can check and find out that the Ministry of Finance is still the majority shareholder, despite the allegation that we are owned by the former prime minister. Every PTT board member has to declare his assets [to the authorities].

THE LEADER OF THE PEOPLE'S ARMY HAS CLAIMED THAT FUEL PRICES COULD BE BROUGHT DOWN IMMEDIATELY BY BT5 A LITRE ONCE THE PTT IS REFORMED. IS THIS TRUE?

Cutting fuel prices and reforming the energy sector are not the same thing. The demonstrators have been opposing the populist policies [of the caretaker government], but slashing fuel prices by Bt5 without any reason is a severe populist [act].

DOES PTT HAVE A MONOPOLY OR DOMINANT MARKET POWER IN THE OIL BUSINESS AS ALLEGED?

If you don't drive to one of our stations to fill up your car with fuel, you still can go to Shell, Esso or Chevron stations. PTT is a publicly listed state enterprise by law. We have no special privileges.


-- The Nation 2014-02-06

[terryp]

it already is ...is run by corrupt Police, Army and the parasites calleds PTP

[tomyummer]

Chevron stations?? Where are those?

PTT is a Shinawatra family enterprise as Thai Airways is soon to be.

[ramrod711]

From being a country that had earned huge incomes from tourism, Egypt, for example, has seen its tourism industry ground down to zero. We're moving quickly to that point. I think if it continues like this for a while, the consequences will be unpredictable. I myself dare not think about it. I'm very worried.

TAT isn't going to like this, expect a press release extolling the attraction of caretaker governments to tourists.

[englishoak]

Chevron stations?? Where are those?

PTT is a Shinawatra family enterprise as Thai Airways is soon to be.

Thats probably not a good investment given its black hole.

[Daniel Ryals]

Caltex is Chevron

Sent from my GT-I8190T using Thaivisa Connect Thailand mobile app

[tomyummer]

Chevron stations?? Where are those?

PTT is a Shinawatra family enterprise as Thai Airways is soon to be.

Thats probably not a good investment given its black hole.

That was the plan of The Man. His chosen CEO was sent to run the airlines into the ground and swoop in to buy it on the cheap. I believe the airlines could be taken over for a measly $300 mil right now. Would make a killing with all the new jets sitting idle in the hangars and being a national airline as well.

[Ricardo]

Chevron stations?? Where are those?

PTT is a Shinawatra family enterprise as Thai Airways is soon to be.

Thats probably not a good investment given its black hole.

Agreed, but it's only public-money, and PTP can always borrow more of that, they think hope !

It's not as if, unlike with rice-exports, there are loads of competitors keen to take TG's business away from them, is it ?

[chainarong]

There is hate Mr Pailin from one end of Thailand to the other, stopping that is another matter, in times of uncertainly people will pull red hearing out of the financial malaise of Thailand and start doing the economist thing most on theory with no figures to back up except last years , however this can lead to panic ,all you need is someone to start a run on the banks and Thailand is down the gurgler, Thailand is on a slippery slope, putting on the brakes needs someone that is extraordinary , has Thailand got this person, hope so.

[tx22cb]

"It's now the fourth week that we can't go to work at our headquarters" - that's scary. PTT have contingency protocols, but these are going to be less efficient and more expensive.

And PTT castigating the "People's Army" (military Students) - that's not going to help.

Does PTT need to have a private word with Suthep and pay the protection money that Suthep wants - distasteful, but that's the new reality in the Twilight Zone that we are in.

[gabruce]

"It's now the fourth week that we can't go to work at our headquarters" - that's scary. PTT have contingency protocols, but these are going to be less efficient and more expensive.

And PTT castigating the "People's Army" (military Students) - that's not going to help.

Does PTT need to have a private word with Suthep and pay the protection money that Suthep wants - distasteful, but that's the new reality in the Twilight Zone that we are in.

Now this is the first that I've heard of Suthep asking for protection money. Is this something reported in the news somewhere? Is it something someone said on the Internet? Is it something you made up?

It's difficult to believe that anyone would have asked for protection money from the stage.

[noitom]

It certainly is starting to appear that Suthep's protest group is a shakedown business. That's what this is all about anyway in Thailand. It's always about sharing the skim and the Mr. 20-40%'s bag.

[MrJohnson]

"It's now the fourth week that we can't go to work at our headquarters" - that's scary. PTT have contingency protocols, but these are going to be less efficient and more expensive.

And PTT castigating the "People's Army" (military Students) - that's not going to help.

Does PTT need to have a private word with Suthep and pay the protection money that Suthep wants - distasteful, but that's the new reality in the Twilight Zone that we are in.

Now this is the first that I've heard of Suthep asking for protection money. Is this something reported in the news somewhere? Is it something someone said on the Internet? Is it something you made up?

It's difficult to believe that anyone would have asked for protection money from the stage.

You are being ironic Bruce, right?

[geriatrickid]

Chevron stations?? Where are those?

PTT is a Shinawatra family enterprise as Thai Airways is soon to be.

What part about a publicly traded company do you not understand? Can you provide any evidence to support your allegation or do you just want to post lies and hope that people believe you?

BTW, are you even in Thailand? If you were, you would most likely pass a Chevron - Caltex outlet on any given day. Caltex is one of the more visible gas stations. Chevron is the no. 1 natural gas and crude oil producer in Thailand.

[DirtFarmer]

As of 9 August 2013)

Top 10 major shareholders

Top 10 major shareholders of the Company as of 9 August 2013 are as below.

Rank

List of Shareholders

Number of Shares

% of Total Shares

1.

PTT PUBLIC COMPANY LIMITED

2,591,860,489

65.286

2.

THAI NDVR COMPANY LIMITED

128,063,734

3.226

3.

STATE STREET BANK AND TRUST COMPANY

98,525,332

2.482

4.

HSBC (SINGAPORE) NOMINEES PTE LTD

86,176,513

2.171

5.

STATE STREET BANK EUROPE LIMITED

72,081,795

1.816

6.

BNP PARIBAS SECURITIES SERVICES LUXEMBOURG

63,642,145

1.603

7.

CHASE NOMINEES LIMITED 42

53,706,538

1.353

8.

THE BANK OF NEW YORK (NOMINEES) LIMITED

46,995,663

1.184

9.

NORTRUST NOMITEES LIMITED-NT0 SEC LENDING THAILAND

41,150,947

1.037

10.

BNP PARIBAS SECURITIES SERVICES, LONDON BRANCH

39,610,871

0.998

Posted 2013-03-17 19:00:20

Thaksin has no share in PTT: Noppadol
The Nation

BANGKOK: -- Noppadol Pattama, a legal advisor to former prime minister Thaksin Shinawatra, flatly denied the rumour that Thaksin and his family hold a share in PTT Plc, the national oil and gas company.

Referring to a series of attacks in some newspapers and social media that said Thaksin was behind the currently high fuel prices in Thailand, on Sunday he said the family has no single share in PTT.

Thaksin neither has any interests in oil and gas industry in Thailand or neighbouring countries.

He noted that if an evidence could be produced to verify the years-long accusation, Thaksin would transfer all (said) shares in PTT to the person on top of a Bt100 million giveway.

Those politicians and their network should stop defaming others without any evidence, he noted.


-- The Nation 2013-03-18

[MrJohnson]

Chevron stations?? Where are those?

PTT is a Shinawatra family enterprise as Thai Airways is soon to be.

What part about a publicly traded company do you not understand? Can you provide any evidence to support your allegation or do you just want to post lies and hope that people believe you?

BTW, are you even in Thailand? If you were, you would most likely pass a Chevron - Caltex outlet on any given day. Caltex is one of the more visible gas stations. Chevron is the no. 1 natural gas and crude oil producer in Thailand.

Morning Kid. We'd hate to see the truth get in the way of a good story (or in this case baseless assertion), now would we. This is TV after all. Home of rumours, inuendo and baseless assertion.

[tomyummer]

Chevron stations?? Where are those?

PTT is a Shinawatra family enterprise as Thai Airways is soon to be.

What part about a publicly traded company do you not understand? Can you provide any evidence to support your allegation or do you just want to post lies and hope that people believe you?

BTW, are you even in Thailand? If you were, you would most likely pass a Chevron - Caltex outlet on any given day. Caltex is one of the more visible gas stations. Chevron is the no. 1 natural gas and crude oil producer in Thailand.

http://www.thaivisa.com/forum/topic/626980-angered-by-cyber-attacks-ptt-says-shinawatra-clan-holds-only-0002-of-shares/

I guess Thaivisa doesn't post the truth or credible sources. And that's just one of many. If the government owns 67% of PTT yet the clan owns .002%, that's a big cut of the pie left of the non government owned shares. Compare that to the top ten shareholders which are corporations themselves and that's even more incredible.

[PDF]The Thaksin Shinawatra Group - CBS Open Journals

cjas.dk/index.php/cjas/article/viewFile/2165/2161

by U Pathmanand - ‎1998 - ‎Cited by 36 - ‎Related articles

Consequently capital groups, such as the Vilailuck family,. Samart group, UCOM group, .... well as department store and cinema owners in Chiangmai. (Plai-Or 1987: .... cations out of the grasp of Thaksin and PDP members and instead transfer it to .... stock market, after PTT Exploration and Production and Bang- kok Bank ...

Page 9 of 22 is a good read.

And I guess you are in Thailand but don't get out much not the streets? Yes there are Caltex branded stations which are owned by Chevron, just no Chevron branded stations. Show me an image of a Caltex Station with a mention of Chevron. Chairman Pailin didn't say Chevron owned stations, he said Chevron stations.

Sent from my iPad using ThaiVisa app

[tomyummer]

Chevron stations?? Where are those?

PTT is a Shinawatra family enterprise as Thai Airways is soon to be.

What part about a publicly traded company do you not understand? Can you provide any evidence to support your allegation or do you just want to post lies and hope that people believe you?

BTW, are you even in Thailand? If you were, you would most likely pass a Chevron - Caltex outlet on any given day. Caltex is one of the more visible gas stations. Chevron is the no. 1 natural gas and crude oil producer in Thailand.

Morning Kid. We'd hate to see the truth get in the way of a good story (or in this case baseless assertion), now would we. This is TV after all. Home of rumours, inuendo and baseless assertion.

This one is just opinion, probably here say. Especially using published Thai books as reference.

http://truth-out.org/opinion/item/20601-more-dishonesty-about-thailands-upheaval-from-the-international-new-york-times

Especially like the rumor about the day PTT became publicly traded.

Sent from my iPad using ThaiVisa app

[belg]

off course the big coorporation want to continue to sell its products to EVERYBODY

[liddelljohn]

Chevron stations?? Where are those?

PTT is a Shinawatra family enterprise as Thai Airways is soon to be.

Chevron is Texaco in Thailand ,

PTT is actually a well run company with a growing international prescence and worth buying shares in

One of my Son In laws runs PTT entire Vietnam networks , he admits that at boardroom level there is some political interference but even the big western companies get similar problems I work in the oil industry too its all about big money and politics around the world ,

The Shinowatras have meddled with PTT and Thai Oil in cambodia and tried to control the licenses there and in the Cambodian offshore sector and Taksin is very Pally with HUN Sen cambodias Big boss but PTT

[scotbeve]

"It's now the fourth week that we can't go to work at our headquarters" - that's scary. PTT have contingency protocols, but these are going to be less efficient and more expensive.

And PTT castigating the "People's Army" (military Students) - that's not going to help.

Does PTT need to have a private word with Suthep and pay the protection money that Suthep wants - distasteful, but that's the new reality in the Twilight Zone that we are in.

Now this is the first that I've heard of Suthep asking for protection money. Is this something reported in the news somewhere? Is it something someone said on the Internet? Is it something you made up?

It's difficult to believe that anyone would have asked for protection money from the stage.

It costs him 2,000 baht/day just for the old, crazy lady brigade!!! Where do you think he's getting his money..... Several places and quite a few "people" that want to send the country back 1,000 yrs. to feudal times..... Suthep is rich, but not that rich!!!!

[hgma]

From being a country that had earned huge incomes from tourism, Egypt, for example, has seen its tourism industry ground down to zero. We're moving quickly to that point. I think if it continues like this for a while, the consequences will be unpredictable. I myself dare not think about it. I'm very worried.

TAT isn't going to like this, expect a press release extolling the attraction of caretaker governments to tourists.

did Egypt EVER had a RED zone?

[jcisco]

Chevron stations?? Where are those?

PTT is a Shinawatra family enterprise as Thai Airways is soon to be.

Thats probably not a good investment given its black hole.

That was the plan of The Man. His chosen CEO was sent to run the airlines into the ground and swoop in to buy it on the cheap. I believe the airlines could be taken over for a measly $300 mil right now. Would make a killing with all the new jets sitting idle in the hangars and being a national airline as well.

Do you even know what you are talking about?

[tomyummer]

Chevron stations?? Where are those?

PTT is a Shinawatra family enterprise as Thai Airways is soon to be.

Thats probably not a good investment given its black hole.

That was the plan of The Man. His chosen CEO was sent to run the airlines into the ground and swoop in to buy it on the cheap. I believe the airlines could be taken over for a measly $300 mil right now. Would make a killing with all the new jets sitting idle in the hangars and being a national airline as well.

Do you even know what you are talking about?

Just pulled it out of thin air. Go ahead and research the family's interests in both PTT and Thai.

[Ulic]

Suthep.....Lets end these populist government vote buying money losing schemes. If you support me I will

lower the price if gasoline 5 baht a litre. Nothing changes here. Thaksin- Suthep same same