Thailand is gearing up for an escalation of political tension as the countdown to former prime minister Thaksin Shinawatra’s judgment day begins.
Thailand’s Supreme Court will announce on Feb 26 whether the state can seize US$2.2 billion (RM 7.5 billion) worth of Thaksin’s assets frozen by the military-appointed government following his ouster in late 2006.
Thailand’s deputy premier in charge of security, Suthep Thaugsuban, this week urged Thais to respect the ruling regardless of the outcome.
Kaewsan Atibhodhi, a former member of the Assets Scrutiny Committee, added his own appeal, saying: “If the court gives a not guilty verdict, the ‘yellow shirts’ must stop. If it gives the guilty verdict, the ‘red shirts’ must stop.”
Full Story: Malaysian Insider
Thoughts: I don't want to drag up the old arguments again but this really is a staggering sum of money. Money which came from the sale of state assets. For those that still think Thaksin has the Kingdom's interest at heart imagine this: US$2.2bn is 72,346,828,662.11 THB at today's exchange rate. Now divide this figure between the 76 provinces in the country and each one will get 951,931,956.08 THB. Can you imagine how many schools and hospitals can be constructed, developed, funded or upgraded if each province had almost a billion baht to spend.
Another option would be to invest it back into the technology which took a huge backwards step when the telecommunications company was sold to a foreign country. With that amount to spend Thailand could be turned into the Silicon Valley of Asia creating thousands of jobs, businesses, education opportunities and foreign investment.
Its all hypothetical and will never happen but definitely something to ponder on.
A tense Thailand awaits ruling on Thaksin
A tense Thailand awaits ruling on Thaksin
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
You say he sold State Assets ?
I thought the telecom company in which he and his family had shares was nothing to do with the government and that the outcry from the Thai people was that he managed to avoid paying any meaningful tax on the capital gain?
I know this issue is far more complex but I am trying to keep it simple.
I thought the telecom company in which he and his family had shares was nothing to do with the government and that the outcry from the Thai people was that he managed to avoid paying any meaningful tax on the capital gain?
I know this issue is far more complex but I am trying to keep it simple.
It is quite a grey area and as said I don't want to drag up the political argument again, Shincorp and AIS were developed and expanded exponentially while Thaksin was running the country and using his power to his own benefit.
Technically it does belong to his family and is not state owned but the reality is a little different. You are quite correct on the tax issue, even that is no shy sum of money.
Technically it does belong to his family and is not state owned but the reality is a little different. You are quite correct on the tax issue, even that is no shy sum of money.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Yep, they're all at it - its just he made the most money and got too greedy, that was his downfall, he'd still be in power today if he hadn't taken the piss.STEVE G wrote:My understanding was that he just tried to do what another influential Thai organisation had been getting away with for years.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
There is a very good summary of Thaksin's antics while in power on today's Asia Times:
http://www.atimes.com/atimes/Southeast_ ... 3Ae01.html
http://www.atimes.com/atimes/Southeast_ ... 3Ae01.html
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
He was too greedy, even by Thai standards. 
Just think, had he not tried to dodge tax on $2 billion and instead paid out about $50 million (50/2000 of the swag) he could have built hundreds, thousands of schools and clinics as well as training young teachers and doctors.
He would have been PM for a thousand years.
Just think, had he not tried to dodge tax on $2 billion and instead paid out about $50 million (50/2000 of the swag) he could have built hundreds, thousands of schools and clinics as well as training young teachers and doctors.
He would have been PM for a thousand years.
Happiness can't buy money
The tourism industry is worried about the possible affects of this Friday's verdict on the seizure of Thaksin Shinawatra's wealth, Prakij Chin-amornpong, chairman of Thai Hotels Association (THA), said on Friday.
“Operators of the tourism related businesses are keeping a close watch on movements of the red-shirt people group, especially on Friday. They do not want any violence as it would directly affect the tourism sector's recovery,” Mr Prakij said on Tuesday morning.
He said room ocupancy rate during the Chinese New Year festival was as high as 90 per cent and it was expected that the number of foreigners visiting Thailand this year would rise by 15 to 20 per cent over 2009.
“If there is any unrest it could derail this target,” he said.
Mr Prakij said if government was forced to invoke the security law, as it had in the past, it would definitely deter foreign tourists and the occupancy rate would drop sharply.
The Supreme Court’s Criminal Division for Holders of Political Positions will on Friday give its verdict on the seizure of 76 billion baht in frozen assets from ousted former prime minister Thaksin Shinawatra and his family.
Source: Bangkok Post
Thoughts: Either outcome is going to be a bad one for Thailand.
One possible solution would be to deduct the tax he should have paid, and a hefty fine, give him the remainder with the proviso that he buggers off never to return!
“Operators of the tourism related businesses are keeping a close watch on movements of the red-shirt people group, especially on Friday. They do not want any violence as it would directly affect the tourism sector's recovery,” Mr Prakij said on Tuesday morning.
He said room ocupancy rate during the Chinese New Year festival was as high as 90 per cent and it was expected that the number of foreigners visiting Thailand this year would rise by 15 to 20 per cent over 2009.
“If there is any unrest it could derail this target,” he said.
Mr Prakij said if government was forced to invoke the security law, as it had in the past, it would definitely deter foreign tourists and the occupancy rate would drop sharply.
The Supreme Court’s Criminal Division for Holders of Political Positions will on Friday give its verdict on the seizure of 76 billion baht in frozen assets from ousted former prime minister Thaksin Shinawatra and his family.
Source: Bangkok Post
Thoughts: Either outcome is going to be a bad one for Thailand.
One possible solution would be to deduct the tax he should have paid, and a hefty fine, give him the remainder with the proviso that he buggers off never to return!
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Yeah, that would be a way out, but whether they'll go for a compromise is unclear, not their usual MO.
Problem is if the reds keep attacking that General, there's only so much that the puppet masters will tolerate before the coup card is threatened or played. If the verdict on Thaksin's wealth is viewed as simply the revenge of the yellow ring leaders then it could easily go south after Friday.
Problem is if the reds keep attacking that General, there's only so much that the puppet masters will tolerate before the coup card is threatened or played. If the verdict on Thaksin's wealth is viewed as simply the revenge of the yellow ring leaders then it could easily go south after Friday.
Resolve dissolves in alcohol
-
sandman67
- Rock Star
- Posts: 4398
- Joined: Wed Jul 11, 2007 6:11 pm
- Location: I thought you had the map?
There is another issue which seems to have gone unreported so far
logically (and yes I know TIT) if the assets are siezed then that implicates the nominees as conspirators to evade tax and further in a conspiracy to conceal assets and facilitate corruption. So, certain shiny faced Skinwash clan members should then have to face charges, at least for deliberately attempting to evade tax.
Cue Takky himself harping on about how the state is victimising his poor little darlings and trying to put his kids inside for his "honest mistakes" (for that will be the line he continues to take)... providing the Reds with a couple of identikit martyrs to scream about when they rally on March 14th...blah blah blah
personally I reckon all the little piggies will be abroad on Friday visiting Papa Piggy at his Sty in Dubai.
man I should move into fortune telling Thai style.
logically (and yes I know TIT) if the assets are siezed then that implicates the nominees as conspirators to evade tax and further in a conspiracy to conceal assets and facilitate corruption. So, certain shiny faced Skinwash clan members should then have to face charges, at least for deliberately attempting to evade tax.
Cue Takky himself harping on about how the state is victimising his poor little darlings and trying to put his kids inside for his "honest mistakes" (for that will be the line he continues to take)... providing the Reds with a couple of identikit martyrs to scream about when they rally on March 14th...blah blah blah
personally I reckon all the little piggies will be abroad on Friday visiting Papa Piggy at his Sty in Dubai.
man I should move into fortune telling Thai style.
"Science flew men to the moon. Religion flew men into buildings."
"To sin by silence makes cowards of men."
"To sin by silence makes cowards of men."
You have to remember that there are people very high up in Thailand that might not want too many precedents being set when it comes to charges of involvement in assisting avoiding tax on assets.
Thaksin tried to do what other wealthier organisations have been doing for years, even using some of the same people.
Thaksin tried to do what other wealthier organisations have been doing for years, even using some of the same people.
There was an article in the Bangkok Post this morning. Petesandman67 wrote:There is another issue which seems to have gone unreported so far.....
http://www.bangkokpost.com/news/politic ... ds-his-cut
Governments are instituted among Men, deriving their just powers from the consent of the governed. Source