Quote:Sonthi wants Shin Corp back

(Agencies)

Junta leader Sonthi Boonyarataklin said he wants to take back about 140 billion baht ($3.9 billion) of assets from Singapore.

"Singapore is a very small country, but it is so rich that it can buy 140 billion baht of our national assets," Gen Sonthi said in a speech at a seminar in Bangkok on Friday. "I am thinking about whether we can take those assets back. I want our national assets back, especially the satellites."

Gen Sonthi's speech, at the Royal Army Convention in Bangkok, was broadcast nationwide by army radio.

"I am looking at the country's assets and resources which have been bought by Singapore," Gen Sonthi told 2,000 students and merchants, referring to the purchase last year by Singapore state investment firm Temasek

"I want my belongings back, especially the satellites."

His speech was was advertised to be on patriotism.

It was the Thai army's duty not to "let anybody to take our national assets", he said. "National assets, no matter where they are located, always belong to Thailand and the Thai people."

Among the assets purchased under the Shin Corp label was Shin Satellite , Thailand's only satellite firm.

The speech on Friday expanded on last month's patriotic complaint against Singapore, when he alleged to high school students:

"Our army has a problem now. When we make a call, the line goes to Singapore. When we talk secrets, they go straight to Singapore."

Bangkok Post Feb. 16, 2007

That's just the most perfect opportunity for Singapore to show where they stand: in South East Asia or in Money? (whereever that is)
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So are the military planing to withdraw the license and take it back or are they planing on buying it back.

Discover Thailand Wrote:So are the military planing to withdraw the license and take it back or are they planing on buying it back.

We don't know of any plans yet, but I can imagine that buying back and getting it under the army's control were the smartest move. At the moment it looks like Surayudh is using the topic as a vehicle for patriotism. Since there are also efforts for better relationships among the South East Asian Nations Singapore is holding something that might be either a hot iron or a key. The cards are dealt. And in the last days Surayudh's face looks like he's got things under control . . .
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Quote:Singapore demands clarification
Sonthi stands by his position on Shin Satellite

Singapore yesterday demanded Thailand clarify remarks made by chairman of the Council for National Security Sonthi Boonyaratkalin that he wanted to buy back some of the national assets Temasek Holdings, an investment arm of the Singaporean government, had bought from Shin Corp.

''Singapore is surprised at what Gen Sonthi was reported to have said about buying back Thai national assets which have been sold to foreigners,'' AFP quoted a Singaporean Foreign Ministry spokesman as saying. ''We should wait for the Thai government to clarify what those remarks meant,'' the spokesman said.

Gen Sonthi, while addressing 1,000 territorial defence students on Friday during a seminar on patriotism, described the control over the country's satellite concessions as national assets that should be reverted back to Thai control. He was referring to satellite concessions held by Shin Satellite Plc which is 41% owned by Shin Corp, now majority owned by Temasek.

He said in Ratchaburi yesterday that if the island state wanted clarification of his remarks, the Singapore government should make it formally in a written statement. ''If not, I will not explain it to Singapore,'' he added.

The army chief stood by his position that he would like to see Shin Satellite and other national assets back under the control of Thais and called for the Surayud Chulanont government to find ways to reclaim ownership.

Foreign Minister Nitya Pibulsonggram said the Foreign Ministry has yet to assess the impact of Gen Sonthi's remarks on Thai-Singapore bilateral relations.

He said Thailand's relations with Singapore were being carefully evaluated, although the two governments have continued cooperation projects without any interruption.

Government spokesman Yongyuth Mayalap said Thais in general share the same wish as the CNS chairman and want to see Shin Satellite Plc back in Thai hands.

The government will explore the possibility of buying back the satellite concession. But it will first have to take into account the cost-effectiveness of doing so, he said.

While the Information and Communications Technology Ministry conducts a feasibility study, the Foreign Ministry will clarify government policy on the issue to the Singaporean government, Mr Yongyuth said.

He believes the issue would not affect the two countries' bilateral relations.

Democrat deputy leader Alongkorn Ponlabutr hailed the CNS chairman's call but cautioned that the government should go through a proper process in its attempt to seek the return of the Shin Satellite concession, otherwise it could be seen as government interference in investment matters.

''It should be made very clear to international investors that the government was not trying to seize control of satellite concessions back from foreign investors,'' he said.

Relations between Thailand and Singapore have soured since early this year when deposed prime minister Thaksin Shinawatra met Singapore Deputy Prime Minister S. Jayakumar during his visit to the city-state. The Singapore government insisted the meeting was private but Thailand argued that the welcome given to Mr Thaksin by a senior Singapore official with his government's knowledge was inappropriate.

Mr Alongkorn said if the government plans to buy back the satellite part of the Shin Corp shares from Temasek, it should do so with the mutual agreement of both parties. The Singaporean government could take this opportunity to mend relations with Thailand by agreeing to sell Shin Satellite Plc shares back to Thais, he said. The government may issue bonds to raise funds for the repurchase of Shin Satellite, he said.

Source: Bangkok Post feb. 18, 2006
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