British internet security start-up backed by ex-Thai PM Thaksin seeks $1bn valuation

[dabhand]

Some information on the company is available here:

https://beta.companieshouse.gov.uk/company/06539484/filing-history

Thaksin is shown as a director.

[halloween]

NO Khun Han he couldn't stay in the country--- UK

Although his bail request was yet to be heard in London it was being widely reported that although the UK is a sanctuary for any political prisoner----they would not view him in this light.....but as a criminal & send him back to Thailand.......but yes although he did make a good profit out of selling Man City--- it was a matter of jumping before your pushed. He has never returned to the UK.

Request for asylum in the United Kingdom

Arrest warrant of Thaksin Shinawatra, issued by the Royal Thai Police on August 13, 2008, after his flight to London and failure to appear in court on August 11, 2008

Yes, I know about his residency being refused, but what has that to do with the FA? Residency isn't a requirement of ownership, is it? The FA has a very flimsy 'fit and proper' requirement which has failed it's purpose time and again. I recall some in football (quite rightly) voicing disquiet at Thaksin's purchase of MCFC. And his stewardship was, apparently, more broken promises than anything else. But I don't recall the FA stepping in, though my memory admittedly isn't perfect.

Perhaps the FA rules don't allow skyping in to board meetings?

[petedk]

Thaksin gave the people in the North a free satellite dish so that they could watch television. They could watch "his" tv stations. Very clever.

I saw a film a couple of years back (can't remember the name), but basically some guy developed an Internet security system. Eventually most of the world bought this system but what they didn't know was that there was some kind of hidden malware which when activated would make the owner a very rich man. (Or something like that... it was a biring film so I cannot remember the details.)

Anyway. Knowing Thaksins hunger for power and money, who knows if he plans something similar.

[Winniedapu]

NO Khun Han he couldn't stay in the country--- UK

Although his bail request was yet to be heard in London it was being widely reported that although the UK is a sanctuary for any political prisoner----they would not view him in this light.....but as a criminal & send him back to Thailand.......but yes although he did make a good profit out of selling Man City--- it was a matter of jumping before your pushed. He has never returned to the UK.

Request for asylum in the United Kingdom

Arrest warrant of Thaksin Shinawatra, issued by the Royal Thai Police on August 13, 2008, after his flight to London and failure to appear in court on August 11, 2008

Yes, I know about his residency being refused, but what has that to do with the FA? Residency isn't a requirement of ownership, is it? The FA has a very flimsy 'fit and proper' requirement which has failed it's purpose time and again. I recall some in football (quite rightly) voicing disquiet at Thaksin's purchase of MCFC. And his stewardship was, apparently, more broken promises than anything else. But I don't recall the FA stepping in, though my memory admittedly isn't perfect.

Perhaps the FA rules don't allow skyping in to board meetings?

As I recall, the FA announced it was launching an enquiry into the fitness of TS to own a League Club. I think he sold before the enquiry was complete but I may have that timing wrong.

Either way, if he was an unfit person for the purposes of the FA, he would (by far) not be the only one.

Winnie

[Winniedapu]

Thaksin gave the people in the North a free satellite dish so that they could watch television. They could watch "his" tv stations. Very clever.

I saw a film a couple of years back (can't remember the name), but basically some guy developed an Internet security system. Eventually most of the world bought this system but what they didn't know was that there was some kind of hidden malware which when activated would make the owner a very rich man. (Or something like that... it was a biring film so I cannot remember the details.)

Anyway. Knowing Thaksins hunger for power and money, who knows if he plans something similar.

<deleted - too thin to be worth replying>.

Edited June 12, 2016 by Winniedapu

[jippytum]

It seems Thaksin is only a bit player, highlighted for local flavour. I can only hope the major stake-holders treat him with the same courtesy and respect he has shown minority investors in his own ventures.

Thaksin sold his major business interest to Tamasec when he became prime minister

[Ricardo]

Thaksin sold his major business interest to Tamasec when he became prime minister

I'm afraid you're mistaken, the sale took place towards the end of his prime-ministership, FWIW :-

https://en.wikipedia.org/wiki/Thaksin_Shinawatra

"In office 9 February 2001 – 19 September 2006" and

"On 23 January 2006, the Shinawatra family sold their entire stake in Shin Corporation to Temasek Holdings"

Edited June 12, 2016 by Ricardo

[Oxx]

"On 23 January 2006, the Shinawatra family sold their entire stake in Shin Corporation to Temasek Holdings"

I suggest you read previous postings before posting wrong information. As I stated previously "the sale wasn't to Temasek Holdings, but to two nominee companies, Cedar Holdings and Aspen Holdings".

[sanukjim]

It seems Thaksin is only a bit player, highlighted for local flavour. I can only hope the major stake-holders treat him with the same courtesy and respect he has shown minority investors in his own ventures.

Of his first two investors The American that financed his first operation was conveniently for Thaksin given a persona non grata from Thailand and lost his money (later awarded many millions in a US ciurt) and the second ,a Chinese was found dead and Thaksin claimed all the company soon after.

[sanukjim]

NO Khun Han he couldn't stay in the country--- UK

Although his bail request was yet to be heard in London it was being widely reported that although the UK is a sanctuary for any political prisoner----they would not view him in this light.....but as a criminal & send him back to Thailand.......but yes although he did make a good profit out of selling Man City--- it was a matter of jumping before your pushed. He has never returned to the UK.

Request for asylum in the United Kingdom

Arrest warrant of Thaksin Shinawatra, issued by the Royal Thai Police on August 13, 2008, after his flight to London and failure to appear in court on August 11, 2008

Yes, I know about his residency being refused, but what has that to do with the FA? Residency isn't a requirement of ownership, is it? The FA has a very flimsy 'fit and proper' requirement which has failed it's purpose time and again. I recall some in football (quite rightly) voicing disquiet at Thaksin's purchase of MCFC. And his stewardship was, apparently, more broken promises than anything else. But I don't recall the FA stepping in, though my memory admittedly isn't perfect.

Perhaps the FA rules don't allow skyping in to board meetings?

As I recall, the FA announced it was launching an enquiry into the fitness of TS to own a League Club. I think he sold before the enquiry was complete but I may have that timing wrong.

Either way, if he was an unfit person for the purposes of the FA, he would (by far) not be the only one.

Winnie

He can not come to the US with out being arrested because of a lawsuite that he lost many years ago.He could come if he still had his diplomatic Thai passport which Thailand had made nul and void.

[Winniedapu]

Yes, I know about his residency being refused, but what has that to do with the FA? Residency isn't a requirement of ownership, is it? The FA has a very flimsy 'fit and proper' requirement which has failed it's purpose time and again. I recall some in football (quite rightly) voicing disquiet at Thaksin's purchase of MCFC. And his stewardship was, apparently, more broken promises than anything else. But I don't recall the FA stepping in, though my memory admittedly isn't perfect.

Perhaps the FA rules don't allow skyping in to board meetings?

As I recall, the FA announced it was launching an enquiry into the fitness of TS to own a League Club. I think he sold before the enquiry was complete but I may have that timing wrong.

Either way, if he was an unfit person for the purposes of the FA, he would (by far) not be the only one.

Winnie

He can not come to the US with out being arrested because of a lawsuite that he lost many years ago.He could come if he still had his diplomatic Thai passport which Thailand had made nul and void.

I'm sure that's relevant but I can't see how just at the moment. There are plenty of people who wouldn't go to the USA if they were paid to do so. I'm one of them, Been there, done that, not again thanks...

I imagine Thaksin will manage to cope with his disappointment.

Winnie

[baboon]

...too close for comfort....

..wonder why this fugitive is not arrested...

..clearly they know his comings and goings...

...'good relations between England and Thailand for 200 years'...so why not have him arrested...or assets seized...or something...???

...come to Singapore...next door...internet security....???

...insane....

...the implications should be obvious ....

... Which body do you think should arrest him....?

...On what grounds, given there is no international warrant out for his arrest...

... Why has the Thai government not issued such a warant in conjunction with its friends abroad...??

... Then he isn't a fugitive, is he??? A nasty piece of work to be sure and one who probably deserves much more jail time than the puny two years allotted to him...

...Why aren't the Thai authorities more rigorously persuing him for the likes of the war on drugs or violent suppression of Muslims in the south...??

... Could it be that he has the potential to drag many 'good people' only interested in a moral and uncorrupt Thailand down with him...???

... Think about it. The implications shold be obvious ...

[wooloomooloo]

I'll stick with my VPN, thank you very much.

[Khun Han]

NO Khun Han he couldn't stay in the country--- UK

Although his bail request was yet to be heard in London it was being widely reported that although the UK is a sanctuary for any political prisoner----they would not view him in this light.....but as a criminal & send him back to Thailand.......but yes although he did make a good profit out of selling Man City--- it was a matter of jumping before your pushed. He has never returned to the UK.

Request for asylum in the United Kingdom

Arrest warrant of Thaksin Shinawatra, issued by the Royal Thai Police on August 13, 2008, after his flight to London and failure to appear in court on August 11, 2008

Yes, I know about his residency being refused, but what has that to do with the FA? Residency isn't a requirement of ownership, is it? The FA has a very flimsy 'fit and proper' requirement which has failed it's purpose time and again. I recall some in football (quite rightly) voicing disquiet at Thaksin's purchase of MCFC. And his stewardship was, apparently, more broken promises than anything else. But I don't recall the FA stepping in, though my memory admittedly isn't perfect.

Perhaps the FA rules don't allow skyping in to board meetings?

Ha ha! He didn't need to. Apparently, he spent quite a lot of time in Manchester during his tenure, a fair bit of it cadging off his fellow directors.

[hawker9000]

Use PGP, seems to do the trick from keeping info from prying eyes.

Yes, but to use it, both parties have to use it don't they? So you can really only secure communications that way with others willing to participate.

Some pros and cons.

Edited June 12, 2016 by hawker9000

[Ricardo]

"On 23 January 2006, the Shinawatra family sold their entire stake in Shin Corporation to Temasek Holdings"

I suggest you read previous postings before posting wrong information. As I stated previously "the sale wasn't to Temasek Holdings, but to two nominee companies, Cedar Holdings and Aspen Holdings".

Don't tell me, tell Wiki ... at least I gave a link to a source, and I was correct on the timing of the sale, which was the main point I was making.

But perhaps this link/quote will make you happy ?

"On Monday, 23 January 2006, the Shinawatra family sold its remaining 49.6% stake in Shin Corporation to two nominees of Temasek Holdings (Cedar Holdings and Aspen Holdings). The Shinawatra and Damapong (Potjaman's maiden name) families netted about 73 billion baht (about US$1.88 billion). In accordance with Thai tax laws, they did not have to pay capital gains tax.^[2]"

https://en.wikipedia.org/wiki/Sale_of_Shin_Corporation_to_Temasek_Holdings

Edited June 13, 2016 by Ricardo

[Hedghog]

Could someone please remind me why the English FA requested that our hero relinquish his ownership of Man City?

Did they? I thought he sold up because he was strapped for ready cash and was offered £210 million by Sheikh Mansour for his £81.6 million investment.

After his conviction,he was considered a person unfit to own the club,or something on those lines.

I think also his visa was revoked,because of the conviction.

[jing jing]

Thaksin is currently worth 1.65 Billion USD. He has done a great deal of business in Singapore and the Scentrics deal with the government looks likely to make Thaksin even more richer. No wonder Yingluck was out at the weekend, smiling and getting her face in the headlines.

What I don't understand is why with all that money does Thaksin get involved in politics. He could be living in luxury in Thailand if he just let his obsession go.

http://www.forbes.com/profile/thaksin-shinawatra/

All politics aside, here is the crux of the issue. As with other charismatic figures throughout the annals of history, Thaksin has that fatal flaw which transforms him from being a driving force for his country's greater good into a force of great evil. His own megalomania prevents him from realizing his true potential.

[halloween]

Thaksin is currently worth 1.65 Billion USD. He has done a great deal of business in Singapore and the Scentrics deal with the government looks likely to make Thaksin even more richer. No wonder Yingluck was out at the weekend, smiling and getting her face in the headlines.

What I don't understand is why with all that money does Thaksin get involved in politics. He could be living in luxury in Thailand if he just let his obsession go.

http://www.forbes.com/profile/thaksin-shinawatra/

I can give you one very good reason he is involved in politics - it allows him to make much more money at the expense of the Thai people. Insider information, tax avoidance, policy,law and regulation changes for personal gain, using influence of position, scams and plain old common theft are quite enriching.

BTW I didn't understand why some of our American "democracy lovers" found it hard to admit that Thaksin's access to cabinet meetings was illegal, until I read that the US congress is exempt from insider trading laws. Legislated corruption must seem natural to them.

[Oxx]

the US congress is exempt from insider trading laws.

Not true. The STOCK act of 2012 made it illegal for them to use non-public information for private profit.

[halloween]

the US congress is exempt from insider trading laws.

Not true. The STOCK act of 2012 made it illegal for them to use non-public information for private profit.

While it is difficult to argue with an Oxx about a STOCK act, it seems you are not as well informed as you think.

http://www.huffingtonpost.com/2013/04/17/stock-act-change-insider-trading_n_3100115.html

[chainarong]

One more important fact here is the fact that Temasek holdings (not Temasak ) is involved, this is owned by the Singapore Government , and this is the same company that Thaksin sold his Shin Corp to for a billion USD and paid no tax on the sale , which ( for those who weren't here in 05 ) is what brought him undone , along with other things like family shares and land deals, and just to throw more fuel on the fire, whatever did happen to that UN investigation into human rights abuse by Thaksin.................................................. .

Oh, so close. The sale was on 23 January 2006 (not 2005), and the amount was roughly US$1.88 billion (not a single billion). And the sale wasn't to Temasek Holdings, but to two nominee companies, Cedar Holdings and Aspen Holdings.

I beg to differ on who the sale went to Oxx and I wont scwibble on the .88.

[chainarong]

One more important fact here is the fact that Temasek holdings (not Temasak ) is involved, this is owned by the Singapore Government , and this is the same company that Thaksin sold his Shin Corp to for a billion USD and paid no tax on the sale , which ( for those who weren't here in 05 ) is what brought him undone , along with other things like family shares and land deals, and just to throw more fuel on the fire, whatever did happen to that UN investigation into human rights abuse by Thaksin.................................................. .

Oh, so close. The sale was on 23 January 2006 (not 2005), and the amount was roughly US$1.88 billion (not a single billion). And the sale wasn't to Temasek Holdings, but to two nominee companies, Cedar Holdings and Aspen Holdings.

I ref to http://enwikipedia.org/wiki/sale_of_shin_corporation_to_temasek_holdings. oxx, The holding companies were Cedar , Cypress and Kularb Kaew , you are correct in 2006 (My how time passes ) the family netted 73 billion Baht. = 1.88 as U said

Edited June 13, 2016 by chainarong

[Berty100]

One more important fact here is the fact that Temasek holdings (not Temasak ) is involved, this is owned by the Singapore Government , and this is the same company that Thaksin sold his Shin Corp to for a billion USD and paid no tax on the sale , which ( for those who weren't here in 05 ) is what brought him undone , along with other things like family shares and land deals, and just to throw more fuel on the fire, whatever did happen to that UN investigation into human rights abuse by Thaksin.................................................. .

Oh, so close. The sale was on 23 January 2006 (not 2005), and the amount was roughly US$1.88 billion (not a single billion). And the sale wasn't to Temasek Holdings, but to two nominee companies, Cedar Holdings and Aspen Holdings.

Of course the sale wasn't directly to Temasek, as by law the sale of a satellite company to a foreign government is not allowed, so they used holding companies to cover that up.

Same same, but different.

[Honthy]

Its ok just make sure Thaksin only owns 49% , like westerners in Thailand,

Why? The law is different in the UK, why should anyone be restricted to 49%?

why

[nausea]

Things could change very rapidly. And then people close to the center of power will have a lot of influence.

[Oxx]

$1bn for a company that lost GBP 2.8 million over the last two years? Sounds like a bargain.

Thaksin's name doesn't appear on the shareholder register as of June 2015 (after he was appointed a director). However, there are at least a couple of offshore companies listed as substantial shareholders - companies which also appear in the "Panama Papers".

[dcnx]

So his business moves are Thai news worthy?

Never seen people ride someone's nuts so hard. Surpised his bowel movements are not news.

[Winniedapu]

One more important fact here is the fact that Temasek holdings (not Temasak ) is involved, this is owned by the Singapore Government , and this is the same company that Thaksin sold his Shin Corp to for a billion USD and paid no tax on the sale , which ( for those who weren't here in 05 ) is what brought him undone , along with other things like family shares and land deals, and just to throw more fuel on the fire, whatever did happen to that UN investigation into human rights abuse by Thaksin.................................................. .

Oh, so close. The sale was on 23 January 2006 (not 2005), and the amount was roughly US$1.88 billion (not a single billion). And the sale wasn't to Temasek Holdings, but to two nominee companies, Cedar Holdings and Aspen Holdings.

Of course the sale wasn't directly to Temasek, as by law the sale of a satellite company to a foreign government is not allowed, so they used holding companies to cover that up.

Same same, but different.

well, this one sure bought out the Thaksin-haters didn't it?

As far as I can see, the sale of what is now known as AIS was completed within the law.so what the hell is the problem please? Or do I need to be a few snags short of a full barbie to understand it?

Winnie

[Oxx]

As far as I can see, the sale of what is now known as AIS was completed within the law.so what the hell is the problem please?

(1) The law was changed at Thaksin's behest to allow the sale to go through - previously the sale of a national utility to a foreign owner was banned.

(2) The transaction was rigged in such a way that no capital gains tax was paid.