Big Gains For Families With Links To Thaksin

[sriracha john]

Big gains for families with links to Thaksin

With easier access to funding and the ability to bend policies for their own benefit, tycoons with political connections during the Thaksin era enjoyed healthy gains in their incomes at a cost to the nation, according to a study by the Thailand Development Research Institute.

Thirteen out of 100 families surveyed were found to have political connections. These families - including the Shinawatras and the Bhodaramiks - witnessed a 107-per-cent increase in capital gains from their companies between January 2001 and December 2003, and 368 per cent from January 2001 to December 2004.

These are considerably higher than those with no political links by 57.3 per cent and 218 per cent, respectively, during the two periods.

While the companies they owned enjoyed a higher market share in their respective markets, the study showed that their expansion in the absence of good governance practices cost the nation billions of baht.

The TDRI paper also points out how the Thaksin government, manipulating telecommunications policies, allegedly cost the country around Bt71 billion. The Shinawatra family is the founder of Thailand's largest telecom holding firm Shin Corp Plc. The family disposed of its entire stake in January to Singapore state investment arm Temasek in a deal worth Bt73 billion.

The paper, completed by TDRI researcher Somkiat Tangkitvanit, will be presented at the TDRI annual conference this weekend. Somkiat's study is based on the research of Pramual Bunkanwanicha and Yupana Wiwattana-kantang this year on the capital gains of politically connected firms.

The TDRI scholar pointed out that one alleged case of favouritism is the 2003 resolution of the deposed Thaksin government, which permitted telecom concessionaires to deduct part of their concession fees to be paid as excise. This prompted a decline in concession revenue of the state concession owners.

The current government will consider terminating that resolution on December 19. Somkiat pointed out that the excise tax has hit the state concession owners' revenue.

Another case is when the previous Board of Investment granted a corporate foreign income tax break to the iPSTAR broadband satellite project of Shin Satellite on November 19, 2003, the third year of the Thaksin government. The tax privilege period is eight years.

Somkiat reasoned that the iPSTAR project should not have investment promotion privileges as the satellite could easily compete with rivals with its low operating cost and higher capacity.

He added that the TOT decision to allow Advanced Info Service Plc (AIS) to pay a flat rate of 20 per cent of the concession fee on its prepaid phone service until the end of its concession period also favoured AIS at the expense of TOT. AIS, which is the cellular subsidiary of Shin, holds a TOT concession. The story began in 2000 when the second-largest cellular operator Total Access Communication, which holds CAT Telecom's cellular concession, asked TOT to change the access charge payment of its prepaid phone revenue to 18 per cent per month from Bt200 per user.

The access charge is the cost that all CAT's cellular concessionaires, including DTAC and True Move, have paid to TOT for access to different networks through TOT's facilities.

Shortly after that, AIS asked its concession owner TOT to change its share of prepaid phone revenue with TOT to a flat rate of 20 per cent per month throughout the remaining concession period. TOT granted a 25-year cellular concession to AIS in 1990.

Under the original concession, AIS had to share the prepaid revenue with TOT at incremental rates, starting at 20 per cent, then moving to 25 per cent and later 30 per cent. TOT decided to grant the requests of DTAC and AIS in April 2001.

Somkiat said that TOT lost concession revenue of Bt13 billion from 2001 to September this year as a result of the reduction of revenue share for AIS.

Another case is the TOT cancellation of the concession of paging firm Advanced Paging in 2002, which meant TOT lost the total concession revenue of Bt500 million it should have gained from 2002 until the Advance Paging concession expired in 2005. Advanced Paging is an AIS subsidiary. However not only Advanced Paging, the paging firms of CAT Telecom Plc at that time also exited their concessions, given that all paging firms were experiencing huge losses due to competition from cellular services.

The Nation

[marshbags]

Big gains for families with links to Thaksin

With easier access to funding and the ability to bend policies for their own benefit, tycoons with political connections during the Thaksin era enjoyed healthy gains in their incomes at a cost to the nation, according to a study by the Thailand Development Research Institute.

Thirteen out of 100 families surveyed were found to have political connections. These families - including the Shinawatras and the Bhodaramiks - witnessed a 107-per-cent increase in capital gains from their companies between January 2001 and December 2003, and 368 per cent from January 2001 to December 2004.

These are considerably higher than those with no political links by 57.3 per cent and 218 per cent, respectively, during the two periods.

While the companies they owned enjoyed a higher market share in their respective markets, the study showed that their expansion in the absence of good governance practices cost the nation billions of baht.

End of part quote of the O.P.

Therein lies a whole lot of implicating information, especially appretaining to AIS, Shin Corp plc and all the other telecom related business Thaksin and his family owned / had their sticky fingers in.

Another clear example of minipulating Thailands assets, conflicts of interest and non transparency.

Just to jog the old memory box and take you back a few weeks to the declaration of assets and liabilities

Quote (1)

Thaksin and his family own assets about Bt12.7 billion

Total assets of former Prime Minister Thaksin Shinawatra and his family when he finished his first term in 2005 was Bt12.68 billion and debts of Bt110 million.

The figures was revealed by National Counter Corruption Commission on Friday. Prime minister and his cabinet members as well as their families were required by laws to declare their assets.

According to Thaksin's assets list submitted to the NCCC, Thaksin has Bt506 million, his wife, Khunying Pojamarn, Bt8.91 billion and his daughter, Paethongtarn Bt3.26 billion, when Thaksin finished his first term on March 14, 2005.

The laws require children of prime minister and ministers who are under 20 to declare their assets.

NCCC reported total assets of Thaksin and family as of March 14, 2006 increased to Bt12.75 billion. Thaksin owns Bt512 million, Pojamarn Bt8.99 billion and Paethongtarn Bt3.24 billion.

Source: The Nation - 20 October 2006

Unquote.

Quote(2) Relative to the poor Thaksins sad plight. ( hence the part showing their declaration only )

NCCC clarifies the assets and liabilities of Cabinet members under the supervision of former PM Thaksin

The National Counter Corruption Commission (NCCC) has disclosed the list of assets and liabilities of former Prime Minister Thaksin Shinawatra and his 1st and 2nd Cabinets. Pol. Lt. Col. Thaksin’s assets increased by six million baht, while the assets of Mr. Suriya Jungrungreangkit, the former Transport Minister, rose by 76 million baht.

The assets of Pol. Lt. Col. Thaksin before becoming the Prime Minister were worth 506,493,927.11 baht and the assets after the end of his prime ministerial period were worth 512,497,748.08 baht. The amount increased by 6,003,820.97 baht. In the meantime, the assets of Pol. Lt. Col. Thaksin’s family increased by 74,080,088.43 baht, from 12,571,720,821.32 baht to 12,645,800,909.75 baht.

Source: Thai National News Bureau Public Relations Department - 20 October 2006

Unquote.

Consider also the selling of Shin Corp plc and a little sum of 73 billion, " TAX FREE " of course.

Even the most hardened supporters of this destitute family and their poor relations cannot defend the discrepancies, contradictions and implications of it all SURELY !!

Without going through the fine detail it sure doesn,t add up from where i,m trying to take it all in.

Maths wasn,t my best subject but i do know 2+2= 927, that is following the above examples on farcical addition anyway.

marshbags

[Buckwheat]

Even the most hardened supporters of this destitute family and their poor relations cannot defend the discrepancies, contradictions and implications of it all SURELY !!

marshbags

Wanna bet?....Check this thread in about an hour and it will all be explained away.

[ColPyat]

Big gains for families with links to Thaksin

With easier access to funding and the ability to bend policies for their own benefit, tycoons with political connections during the Thaksin era enjoyed healthy gains in their incomes at a cost to the nation, according to a study by the Thailand Development Research Institute.

What's new about that?

Under every single Thai government this, or similar systems were the rule, and not the exception. I neither believe that this will suddenly change, nor that much will come out of the present anti-corruption drive.

Would be good though if something changed, but i fear it's wishful thinking. Remember what happened to the freezed assets of members of the Chatchai government?

[hammered]

Over the past few years a lot of complaints could be heard from business people that the Thaksin government were by far the most corrupt ever.

[ColPyat]

Over the past few years a lot of complaints could be heard from business people that the Thaksin government were by far the most corrupt ever.

I guess those were the ones who did not make it into the gravy train.

Generally the big business families here have a foot everywhere - one cousin in the army, one in the police, one close to this party, and one to the other, and another in the civil service. The bad apple becomes a left wing academic, and nobody listens to him.

Chatchai Choonhavan's government was the most corrupt ever as well, etc...

As long as just individuals are made a scapegoat, and the basic system is not challenged, we can be sure that a few years down the line we will get another government that will be the worst ever just before and after it fell.

Business as usual.

[jumnien]

The big families with no links to Thaksin had gains of 218% in 4 years! What the he_l are they whining about? What a bunch of spoiled children...

[sriracha john]

Even the most hardened supporters of this destitute family and their poor relations cannot defend the discrepancies, contradictions and implications of it all SURELY !!

marshbags

Wanna bet?....Check this thread in about an hour and it will all be explained away.

hahahaha... great prediction, buckwheat... you were right....

it doesn't matter what Thaksin did... as long as someone before him did something along the same lines, even if their amounts were miniscule compared to Thaksin's take, all is forgiven....

Edited December 10, 2006 by sriracha john

[suiging]

Thaksin was one head of a Hydra........................................say no more.

[The Skipper]

The Thai economy boomed during the Taksin era.

Everybody did well. No?

[marshbags]

Even the most hardened supporters of this destitute family and their poor relations cannot defend the discrepancies, contradictions and implications of it all SURELY !!

marshbags

Wanna bet?....Check this thread in about an hour and it will all be explained away.

hahahaha... great prediction, buckwheat... you were right....

Real them in ( As in fishing, marshbags )

it doesn't matter what Thaksin did... as long as someone before him did something along the same lines, even if their amounts were miniscule compared to Thaksin's take, all is forgiven....

Edited December 11, 2006 by marshbags

[Siripon]

Over the past few years a lot of complaints could be heard from business people that the Thaksin government were by far the most corrupt ever.

I guess those were the ones who did not make it into the gravy train.

Generally the big business families here have a foot everywhere - one cousin in the army, one in the police, one close to this party, and one to the other, and another in the civil service. The bad apple becomes a left wing academic, and nobody listens to him.

Chatchai Choonhavan's government was the most corrupt ever as well, etc...

As long as just individuals are made a scapegoat, and the basic system is not challenged, we can be sure that a few years down the line we will get another government that will be the worst ever just before and after it fell.

Business as usual.

I'm not sure you can say Chatchai's government was the most corrupt, General Sarit Thananrat had an extraordinary amount of assets by the time he finished.

The minister is dead now but the minister in charge of the Hopewell project conveniently 'forgot' to install a financial penalty for late completion, how Gordon Wu must be laughing to this day, the 'Hopeless Project'.

Chatchai's government was more the old style corruption, 10 % or a lot more, on top of the winning bid.

I remember how we used to rib each other with a greeting with the palm raised, as in 'hi', written on the hand would be 10,000,000 baht or whatever. This was the favourite style of a certain minister when demanding bribes, no words to be recorded on paper, no incriminating documents, etc. Of course this was pre digital cameras and phones.

But the difference with the Thaksin government is Thaksin's was policy corruption where laws were plainly changed to benefit his business and cronies, and that is plain to see. The amount lost to the state and hence Thai people is still being added up.

[ColPyat]

But the difference with the Thaksin government is Thaksin's was policy corruption where laws were plainly changed to benefit his business and cronies, and that is plain to see. The amount lost to the state and hence Thai people is still being added up.

Yeps, i tend to agree with your post there.

But i view this corruption issue of Thaksin as an almost logical evolution that developed under a system of inequality. I do not see it going away, only shifting shape.

[suiging]

Thaksin was a product of a prevailing local culture which has not changed.

A small little fellow who liked to dress up in uniforms and was thought by many to be quite mad led Germany to war. A few years latter along came a little Austrian who did the same. ( bet you thought the first one was Hitler......eh ).

The prevailing German culture allowed for the two leaders ( one by birth one by mas hysteria ) to bring the Nation to it's knees.

If you don't learn from history you are doomed to repeat it. Bye bye Thaksin 2006, helloooo Mr. Rumpabumpabaanchat 20-----.

[Gary A]

You should also remember back in the days where the provincial governors got their salary in addition to 25 percent of the province budget to run their own little empires. No doubt there is still massive corruption but it's less than before.

[Tony Clifton]

Thaksin was a product of a prevailing local culture which has not changed.

A small little fellow who liked to dress up in uniforms and was thought by many to be quite mad led Germany to war. A few years latter along came a little Austrian who did the same. ( bet you thought the first one was Hitler......eh ).

The prevailing German culture allowed for the two leaders ( one by birth one by mas hysteria ) to bring the Nation to it's knees.

If you don't learn from history you are doomed to repeat it. Bye bye Thaksin 2006, helloooo Mr. Rumpabumpabaanchat 20-----.

Upon seeing this poster for the first time, my wife expressed some rarely seen anger and said "Who the F*%# does he think he is trying to dress up and look like the K***?

[ColPyat]

Thaksin was a product of a prevailing local culture which has not changed.

A small little fellow who liked to dress up in uniforms and was thought by many to be quite mad led Germany to war. A few years latter along came a little Austrian who did the same. ( bet you thought the first one was Hitler......eh ).

The prevailing German culture allowed for the two leaders ( one by birth one by mas hysteria ) to bring the Nation to it's knees.

If you don't learn from history you are doomed to repeat it. Bye bye Thaksin 2006, helloooo Mr. Rumpabumpabaanchat 20-----.

Upon seeing this poster for the first time, my wife expressed some rarely seen anger and said "Who the F*%# does he think he is trying to dress up and look like the K***?

Tony, Tony, Tony....

"A small little fellow who liked to dress up in uniforms" in the original post was Germany's reigning monarch - Emperor Wilhelm II.

Hardly comparable to Thaksin...

[Grover]

Wanna bet?....Check this thread in about an hour and it will all be explained away.

yes, we have all heard the broken record before. It is played for self-comfort,

Edited December 12, 2006 by Grover

[sriracha john]

Thaksin was a product of a prevailing local culture which has not changed.

A small little fellow who liked to dress up in uniforms and was thought by many to be quite mad led Germany to war. A few years latter along came a little Austrian who did the same. ( bet you thought the first one was Hitler......eh ).

The prevailing German culture allowed for the two leaders ( one by birth one by mas hysteria ) to bring the Nation to it's knees.

If you don't learn from history you are doomed to repeat it. Bye bye Thaksin 2006, helloooo Mr. Rumpabumpabaanchat 20-----.

Upon seeing this poster for the first time, my wife expressed some rarely seen anger and said "Who the F*%# does he think he is trying to dress up and look like the K***?

I'd mention something about how Thaksin handlers gave out special-design Thai national flags, meant only for exclusive use by Royalty, during his campaign rallies, but I'd be afraid of her reaction.

Edited December 12, 2006 by sriracha john

[Grover]

obnoxious is the word that springs to my mind

[Tony Clifton]

Thaksin was a product of a prevailing local culture which has not changed.

A small little fellow who liked to dress up in uniforms and was thought by many to be quite mad led Germany to war. A few years latter along came a little Austrian who did the same. ( bet you thought the first one was Hitler......eh ).

The prevailing German culture allowed for the two leaders ( one by birth one by mas hysteria ) to bring the Nation to it's knees.

If you don't learn from history you are doomed to repeat it. Bye bye Thaksin 2006, helloooo Mr. Rumpabumpabaanchat 20-----.

Upon seeing this poster for the first time, my wife expressed some rarely seen anger and said "Who the F*%# does he think he is trying to dress up and look like the K***?

Tony, Tony, Tony....

"A small little fellow who liked to dress up in uniforms" in the original post was Germany's reigning monarch - Emperor Wilhelm II.

Hardly comparable to Thaksin...

Not comparing both. The highlighted sentenced made that poster image pop up in my mind. Thanks for the history lesson.

[ColPyat]

Thanks for the history lesson.

Glad to be of service.

And when it comes down to love of fancy uniforms - not just Thaksin is guilty of that here in Thailand. Every low ranked civil servant in his dress uniform looks like he went through the fronlines of all campains starting from the Napoleonic wars right through WW1, WW2 and Irak.

[Plus]

Maybe if they let only the army and bureaucracy run the country there would less corruption. Instead politicians take turns and feeding and there's a whole new bunch of them coming every five years for a feast. Letting the businessmen run the country was the worst decision ever, from corruption point of view.

Let's see how this new Constiution turns out. Generals would probably try to limit the power of politicians and keep bureaucrats out of their reach. People will most probably disagree with that idea as bureaucrats were usually blamed for everything that was wrong with this country before Thaksin came along. I'm not sure that people would agree that bureaucrats are the lesser of two evils.

Maybe it's easier for independent bodies to keep corruption among bureaucrats under control.

Just preliminary thoughts.

[ColPyat]

Maybe if they let only the army and bureaucracy run the country there would less corruption. Instead politicians take turns and feeding and there's a whole new bunch of them coming every five years for a feast.

Please never, ever use the term 'democracy' in your arguments.

You have rather clearly shown now with that statement that your are maybe further removed from 'democracy' than anybody on this forum here. And even further than the present government. Right now you have more or less decribed that you are in favour of a totalitarian military dictatorship.

[Siripon]

Maybe if they let only the army and bureaucracy run the country there would less corruption. Instead politicians take turns and feeding and there's a whole new bunch of them coming every five years for a feast.

Please never, ever use the term 'democracy' in your arguments.

You have rather clearly shown now with that statement that your are maybe further removed from 'democracy' than anybody on this forum here. And even further than the present government. Right now you have more or less decribed that you are in favour of a totalitarian military dictatorship.

colonel, please define democracy as you see it.

[blaze]

Thaksin was a product of a prevailing local culture which has not changed.

A small little fellow who liked to dress up in uniforms and was thought by many to be quite mad led Germany to war. A few years latter along came a little Austrian who did the same. ( bet you thought the first one was Hitler......eh ).

The prevailing German culture allowed for the two leaders ( one by birth one by mas hysteria ) to bring the Nation to it's knees.

If you don't learn from history you are doomed to repeat it. Bye bye Thaksin 2006, helloooo Mr. Rumpabumpabaanchat 20-----.

Upon seeing this poster for the first time, my wife expressed some rarely seen anger and said "Who the F*%# does he think he is trying to dress up and look like the K***?

Tony, Tony, Tony....

"A small little fellow who liked to dress up in uniforms" in the original post was Germany's reigning monarch - Emperor Wilhelm II.

Hardly comparable to Thaksin...

Not comparing both. The highlighted sentenced made that poster image pop up in my mind. Thanks for the history lesson.

[jumnien]

I apologize for not posting any silly photos of Thaksin.

Regarding the topic - families with no links to Thaksin had a net gain of 218% over a 4 year period 2001 thru 2004. It doesn't appear that Thaksin was all that ruthless with those who did not support him. I'm sure there are no tax irregularities amongst these families, right? I'm sure the anti-corruption squad will leave no stones unturned in its ceaseless and apolitical search for the truth of these important matters.

[blaze]

"Maybe if they let only the army and bureaucracy run the country there would less corruption. Instead politicians take turns and feeding and there's a whole new bunch of them coming every five years for a feast"

If Chang Noi's assertions in the Nation today are to be believed, you are not alone in this sentiment.

[The Skipper]

He does look silly in the outfit but so do the new people in charge.

They have pictures of themsleves, dressed just like that, at their new digs.

[sriracha john]

I'd be happy to lend out a few dozen pictures if you need them, mdeland... There's no shortage of photos of buffonish Thaksin photos. He has a penchant for making them:

Here is he playing F-16 fighter jet pilot... (completely undoctored, btw) ... he actually did this