Temasek Insists Shin Deal Legal

[ya5702]

Wouah !

48 hours after the "institutional change"... the report of Commerce Ministry regarding Shin deal is going to be transfered to the police.

This is what I call "Post Thaksin Truely Amazing Efficiency"...

And this report concludes that Temasek used... nominees to take controle of Shin.

Joy ! Joy ! Joy !

From Bangkok Post

http://www.bangkokpost.com/Business/22Sep2006_biz50.php

The Commerce Ministry is preparing to submit to police the report of its Business Development Department, which concluded that Kularb Kaew is a nominee for Singapore's Temasek Holdings.

According to the ministry's permanent secretary, Karun Kittisataporn, the report would be submitted for police to take action against the company, which was deemed as acting as nominee for Temasek to bypass the 49% foreign shareholding limit.

Mr Karun said he would consult with the deputy permanent secretary, Yanyong Phuangrach, who was previously assigned by former deputy commerce minister Preecha Laohapongchana to conduct another investigation on the same issue _ criticised as an attempt to buy time.

Mr Karun said another investigation was not necessary as the earlier probe had been thorough.

It will be real fun to see how this will play out. Truth be told! Sparks will fly! The woman behind Temasek Holdings, owner of Shin Corp., is Mrs. PM of Singapore!

[cclub75]

It will be real fun to see how this will play out. Truth be told! Sparks will fly! The woman behind Temasek Holdings, owner of Shin Corp., is Mrs. PM of Singapore!

As the Minister says : wait to see what prosecutor will do.

Anyway, the stake are so huge (on a political ground as well, because Temasek = Singapore State) that a cancelation is almost unthinkable. But maybe a kind of "negociated settlement".