Anti-graft group vows to back NMG execs at meeting

[Lite Beer]

Anti-graft group vows to back NMG execs at meeting
THE NATION

Nation Multimedia Group board chairman Suthichai Yoon, centre left, receives NMG share certificates from Anti-Corruption Organisation of Thailand director Mana Nimitmongkol in a show of support from shareholders yesterday.

BANGKOK: -- A REPRESENTATIVE from the Anti-Corruption Organisation of Thailand yesterday presented share certificates of Nation Multimedia Group (NMG) to the company's executives and vowed to support their fight against domination in the media.

Mana Nimitmongkol, the director of the organisation, met NMG's board chairman Suthichai Yoon and other senior executives at the Nation Group office in the afternoon.

He also promised to vote for them at the next annual general meeting of NMG shareholders, expected to take place in late April.

The meeting could see a test of strength between the current management and editorial staff of NMG and a group of new shareholders led by Solution Corner (1998), or SLC, which has been renamed News Network Corporation (NEWS).

Meanwhile, National Broadcasting and Telecommunications Commission (NBTC) member Lt-General Peerapong Manakit said that the digital TV auction rules against media domination should remain valid even after the bidding.

Peerapong said yesterday that he agreed with the other NBTC commissioners Supinya Klangnarong and Thawatchai Jittrapanun in this regard, but he had a different view on the issue of the legality of SLC's shareholding in NMG.

Peerapong said there was no evidence to prove that SLC, which is also known as NEWS, was taking control of Nation TV going by the shareholding structure of NMG.

He explained that to find the real power controller in each licensee, the regulator looked into the majority shareholders in two layers. There was no evidence of SLC taking control of NBC Next Vision, which operates Nation TV, in terms of its shareholding structure.

Peerapong stressed that SLC was deemed to hold no controlling power over NMG, as it owns only 12.27 per cent. He said SLC held an equity stake in NMG, not in NBC Next Vision Co (NNV) which holds a digital-TV licence. NNV is a wholly owned subsidiary of Nation Broadcasting Corporation, a subsidiary 70 per cent owned by NMG.

He welcomed additional information about any mutual beneficiaries related to this case.

Peerapong was commenting on this issue after a meeting with Nation TV executives yesterday. The meeting was about a Nation TV news report aired on Monday critical of the broadcasting committee's decision that SLC's move to take a stake in NMG was not against the digital TV bidding rules.

Adisak Limprungpanatanakij, chief executive officer of NBC, which operates Nation TV, said he would provide Peerapong additional information about mutual beneficiaries involving SLC's stake in NMG.

Source: http://www.nationmultimedia.com/politics/Anti-graft-group-vows-to-back-NMG-execs-at-meeting-30256945.html

-- The Nation 2015-03-28

[Srikcir]

"Anti-Corruption Organisation of Thailand ... vowed to support their fight against domination in the media."

There is no legal issue thus far with SLC. So why is ACO getting involved other than for its own political purposes? That smacks abuse of authority. It seems it is taking exception to the NTBC determination of no action as somehow being a corrupt decision. And by doing so it essentially makes itself a corrupt agent unless it is going to investigate the NTBC for abuse of power.