Anything & Everything About Thailand

[U-Need]

BANGKOK, March 16 (TNA) - Demonstrators at the Government House will not block the way, but allow caretaker Prime Minister Thaksin Shinawatra to go through smoothly Thursday morning.

Somkiart Pongpaiboon, a core member of the People's Alliance for Democracy (PAD) which has led anti-Thaksin groups rallying in front of the Government House for the third consecutive day to press for the caretaker premier's resignation, promised that Mr. Thaksin would have a free entry into the government premise.

Returning from the country's Northeast for his official mission and election campaign, the caretaker prime minister is scheduled to arrive at the Government House around 10:00 a.m.

He will then chair a meeting of a government committee in charge of preparing events and grand celebrations nationwide on the auspicious occasion of the 60th anniversary of His Majesty the King's ascension to the throne this year at the Santi Maitri Building.

Mr. Thaksin will reportedly meet a rally of his supporters who mostly are farmers from the North and Northeast at the Navanakorn Public Park on the outskirts of Bangkok before going to the Goverment House.

Reportedly, he may also meet the demonstrators rallying in front of the Government House.

Senior police officers, including National Police Chief Pol. Gen. Kowit Wattana, arrived at the Government House early Thursday morning to oversee security prepearations for the caretaker premeir and to ensure peace and order.

However, there will be no special reinforcement of security officers in the area, according to the security authorities. (TNA)--E002

[U-Need]

BANGKOK, March 16 (TNA) - Thailand's caretaker government has changed the venue of a meeting of a committee in charge of preparations of events and grand celebrations for the 60th anniversary of His Majesty the King's ascension to the throne this year, known as the Diamond Jubilee, from the Government House to the Ministry of Foreign Affairs, according to Government Spokesman Surapong Suebwonglee.

Caretaker taker Prime Minister Thaksin Shinawatra chaired the meeting at the Foreign Ministry's conference hall Thursday morning.

Dr. Surapong told journalists that the change of the meeting's venue was to faciliate communications of more than 100 members of the government committee.

Earlier the meeting was set to be held at the Santi Maitri Building inside the Government House, where anti-Thaksin groups led by the People's Alliance for Democracy (PAD) are rallying to press for the caretaker prime minister's resignation without any condition.

The demonstrators allege that Mr. Thaksin has lost political legitimacy and ethics to head the government following a tax-free sale of controlling stake in Shin Corporation, his family's business and the nation's largest telecommunication firm, to Temasek Holdings, Sinapore's state-owned telecommunication company, in late January.

Dr. Surapong said the change of the venue was not to help Mr. Thaksin evade the demonstrators.

[U-Need]

By Trirat Puttajanywong
663 words
16 March 2006
11:58
Reuters News
English

BANGKOK, March 16 (Reuters) - Thai Prime Minister Thaksin Shinawatra returned in defiant mood from the provincial campaign trail on Thursday to protesters massed outside his office and doubts that his April 2 snap election could go ahead.

Thaksin confessed he was nervous about the impact of the political crisis on the economy as more and more businessmen and analysts express concerns about the long-term impact of a campaign to oust him.

But, after switching a meeting from his office rather than face protesters baying for his head, he scotched the idea that he might step aside to break the impasse and ease fears of violence in a country with a long and recent history of military coups.

"Everybody must be responsible. They must play by existing rules otherwise people who respect the rules will have to yield to those who don't follow the rules," he told reporters.

Asked if he had thought about stepping aside temporarily -- an idea that a day earlier he had labelled a "good suggestion" -- he said in English: "I have not considered yet".

Wildly popular in the countryside, where 70 percent of Thailand's 63 million people live, Thaksin has billed April's vote as a referendum on his leadership in the face of the campaign by Bangkok's middle classes to kick him out.

He had been expected to win another thumping majority in two weeks' time and any postponement would deal him a major blow.

Election Commission Chairman Wassana Permlap said on Wednesday that the poll, which is being boycotted by the three main opposition parties, could not produce the full house of 500 MPs required by the constitution to form a new government.

Of particular concern is the required quota of 100 "party list" parliamentary candidates, Wassana said, although he added there was also a high probability that some of the remaining 400 constituency seats would not be filled.

Even in an uncontested seat, a candidate must win 20 percent of the eligible vote to win. A party must get 5 percent of the vote to win a "party list" seat and none of the small parties running is likely to get that.

Making matters worse, one man on Thaksin's "party list" quit to become a Buddhist monk, leaving it with only 99 names.

INVESTORS WARY

Both sides have made noises about wanting to talk to resolve the crisis, but there appears little to discuss given that one side wants the billionaire PM out, and the other wants him in.

Thaksin has proffered an olive branch in the form of an offer to set up a neutral body to reform the constitution and hold another election within 15 months.

But the opposition, which accuses him of corruption, cronyism and undermining the checks and balances of the 1997 charter, turned the idea down flat, saying no panel he appointed could be neutral.

The political turmoil, which intensified in January when Thaksin's relatives sold off their $1.9 billion chunk of the family telecoms business tax-free, has begun to worry investors.

David Marshall, managing director of Asia financial institutions at Fitch Ratings, told Reuters the agency might have to cut its economic growth forecast if the crisis persisted.

"I think we probably won't do that if the political problems can be resolved within a matter of weeks, but if they persist for a month, it will have a negative impact on the economy and then we may have to take another look," he said.

The anti-Thaksin campaign has been peaceful so far but there are fears of violence if around 6,000 pro-Thaksin farmers heading towards Bangkok in a convoy of trucks and tractors are allowed near their adversaries.

[KatoeyLover69]

Report from Bangkok Post dated Thursday 16 March 2006 -

Temasek to bring in new Thai partner : Telecom giant to remain on the SET

Temasek Holdings has confirmed that it will go into a partnership with a Malaysia-based Thai national, Surin Upatkoon, to control telecom giant Shin Corp.

The Singaporean investment firm made the announcement following the close of a mandatory tender offer to raise its stake in the telecoms giant to more than 96%.

''We and our Thai partners are pleased to have Khun Surin join us as a partner in this investment. Khun Surin is a successful Thai entrepreneur with extensive business interests in the region,'' S. Iswaran, the managing director for investments at Temasek, told the ifBangkok Post.

Mr Surin, who holds the honorary title of ''Datuk'' in Malaysia, is currently the managing director and a 27.42% shareholder of Multi-Purpose Holdings Bhd, a Malaysia-based operator of financial, stock broking and gaming businesses.

Temasek said that Mr Surin's experience in various fields and the international network would be beneficial to Shin and its businesses.

''We, at Temasek, are delighted to have strong partners like Khun Surin, Khun Pong, Khun Supadej and Siam Commercial Bank on board with us for this investment,'' Mr Iswaran said.

He declined to say what areas Mr Surin would work in or his shareholdings in the Shin, controlled by Temasek through nominees Cedar Holdings and Aspen Holdings.

Cedar Holdings, in which Temasek's Cypress Holding owns a 49% stake, is set to increase its capital in order to accommodate the results of raising its Shin holdings to 51.98% from 33.6%.

Other shareholders in Cedar are Siam Commercial Bank and Kularb Kaew.

Aspen Holdings, also a Temasek nominee, raised its shareholdings to 44.14% from 15.85%.

Malaysian papers have quoted sources as saying that Temasek will restructure its shareholding so as not to violate Thai foreign ownership laws to hold no more than 49%, and that Thai partners will own the remaining shares.

Under the partnership deal, Mr Surin will own 70% of a Thai company which will in turn own 41% of Shin Corp's holding company.

Mr Iswaran said that Temasek's was thankful to shareholders for the overwhelming response to the tender offer, adding that his firm's intention was to keep Shin listed on the bourse.

Under Stock Exchange of Thailand regulations, listed companies must maintain a free float of at least 15%. SET officials said Shin would be given time to meet the requirement.

''We and our Thai partners would certainly like to maintain Shin Corporation as a listed company,'' he said. ''We are positive about the growth potential of Shin.''

''We are in dialogue with several interested investors, and will do our best to meet this requirement within the next 12 months,'' Mr Iswaran said.

He declined to comment on a possible divestment of subsidiaries, as the tender offer for shares of mobile-phone operator Advanced Info Service, 42% owned by Shin, was underway.

Temasek has also launched a tender offer for all the remaining shares of Advanced Info at 72.31 baht a piece. The tender offer finishes on March 21, and as of March 3, the company said that none of the shares had been taken.

Mr Iswaran stressed that the investment in Shin showed that Temasek was confident in the Thai market's long-term growth prospects.

''The investment in Shin is a commercial decision, reflecting Temasek's optimism for the long-term prospects of Thailand and its dynamic communications sector. We also see this as a long term investment in Thailand's future,'' he said.

Meanwhile, the National Telecommunications Commission today will meet to discuss the impact of Temasek's takeover of Shin. Regulators will consider whether the takeover will have a legal impact on AIS' concession with state-owned TOT Corp.

[KatoeyLover69]

Report from Bangkok Post dated Thursday 16 March 2006 -

Temasek likely to hold SET listing

Singapore state-owned Temasek Holdings is unlikely to withdraw Shin Corporation Public Company Limited from the Stock Exchange of Thailand (SET) after the company and its subsidiaries hold a majority stake, according to SET Senior Executive Vice President Sopavadee Lertmanaschai.

Currently, Shin Corp is 96.12 per cent owned by Temasek when its subsidiaries Aspen Holdings and Cedar Holdings took up some stakes in the company.

The deputy SET chief said on Wednesday that she believed Temasek would not seek a de-listing of Shin Corp shares from the Thai bourse because it is the country leading company well known among Thai people.

Should the company do be withdrawn, it would definitely affect the market capitalization of SET because the firm is considered a large blue-chip stock.

She said although Shin Corp would be finally de-listed, SET would not revise a target to see its market capitalization increase to 10 trillion baht in the next five years.

As of March 14, the market capitalization of Shin Corp totaled 136 billion baht, the 9th highest in the Thai bourse, while that of its subsidiary Advanced Info Services Public Company Limited amounted to 281 billion baht, the 4th highest in the market.

Umares Singnarong, Senior Vice President of Adkinson Securities Public Company Limited , said it is very likely Shin Corp shares would be de-listed from SET since a free-float of the shares on the market is now less than 5 per cent after Cedar and Aspen acquired its shares from the Shinawatra and Dhamapong families.

[KatoeyLover69]

Report from Bangkok Post dated Thursday 16 March 2006 -

Industry says crisis hurting the economy : FTI to do report on impact, send to govt

The Federation of Thai Industries has called on caretaker Prime Minister Thaksin Shinawatra and his opponents to hold talks before the economy is severely damaged.

The FTI yesterday held an urgent meeting to evaluate the political situation with 33 members from various sectors.

They agreed to conduct an economic assessment of the impact of the crisis and convey results to the government next week.

However, they declined to provide any immediate solutions on what was the best way out of the crisis.

''We can't say what is the best solution, and we can't conclude if Mr Thaksin should resign and quit politics or not. (You'd) better ask him,'' said Kiatpong Noichaiboon, the FTI vice-chairman.

Mr Kiatpong, however, was confident the situation would improve after the snap election in April and then industry would carry on as normal.

Businessmen only wanted to see political stability.

One FTI member said he hoped the report would encourage the government to do something for the country's interest, as signs were emerging that the crisis was hurting the economy.

At least four industrial sectors - printing houses, alternative fuels, handicrafts and furniture - had been hurt by declining sale orders, according to the FTI.

Kriengkrai Thiennukul, president of the Thai Printing Association, said most printing houses had experienced a drop in sales since many clients had delayed decisions until the political conflict was solved.

Mr Kiatpong said that the unclear political situation also impaired foreign direct investment, resulting in a loss of opportunity for the country.

Still, the 15% growth target for exports this year remained possible, in line with the capability of the private sector.

But in another forum, key business figures yesterday voiced agreement that Mr Thaksin should step aside from politics.

Vikrom Kromadit, chief executive officer of Amata Corporation, suggested the premier follow the footsteps of former Singapore leader Lee Kuan Yew, who holds an influential cabinet post as a senior adviser.

Mr Vikrom said by doing so Mr Thaksin could still direct the country's policies. If he remained in power, Mr Thaksin risked stronger resistance because his work lacked transparency, he said, despite crediting him with bringing the country out of the 1997 financial crisis.

''During the past five years, how much more money have people around him earned?'' Mr Vikrom told a seminar ''With or Without Thaksin: What would become of Thailand's Economy?'' organised by the Economic Reporters Association.

Phumsan Rotelertchanya, chairman of the Thai Contractors' Association, echoed calls for Mr Thaksin to withdraw from politics and return after the constitution had been amended to plug legal loopholes.

He said Mr Thaksin's understanding of capitalism had saved the country from collapse, but admitted that equal distribution of wealth has yet to be addressed.

Somchai Jitsuchon, a Thailand Development Research Institute researcher, said Mr Thaksin's absence from politics would not cause economic setbacks.

Thailand had already been lifted out of crisis and the projected economic growth of China and Japan was working in the country's favour, he said.

[U-Need]

BANGKOK, March 16 (TNA) – PTT Public Company Limited says it will monitor the global oil price movement for another day before making on a decision on whether local retail fuel prices should further raised or not on Thursday.



PTT’s President Prasert Bunsumpan revealed global oil prices had continued to increase for this moment with a crude price in Dubai reaching US$58 per barrel.



In Singapore, a refined gasoline price is as high as $70 per barrel and a diesel price stays at $73 per barrel. It resulted in a marketing margin obtained by local oil traders dropping to only 0.40 baht per liter.



“Under the circumstance, we will wait to see the world oil price movement again today before deciding whether the local oil prices should be further raised or not,” he said.



Mr. Prasert added the company would make a final conclusion on listing its subsidiary Rayong Refinery Plc on the Stock Exchange of Thailand by this week.



However, he believed the fund mobilization by its subsidiary would not be affected if the listing were postponed. Initially, it is expected the initial public offering of shares would take place in May.



On a current political tension, he said he had discussed with foreign bankers and shared a common view that the Thai economy continued to grow and is likely to enjoy higher growth than the previous year.



Foreign investors still had confidence since the economic fundamental remains sound.



He conceded the political situation needed to be closely monitored, but believed all parties would be able to seek a common resolution to tackle their conflicts. (TNA) – E005

[KatoeyLover69]

Report from The Nation dated Thursday 16 March 2006 -

Illegal 'casinos' in Bangkok to be dismantled

A court has ordered the owners of shophouses that have been remodelled into gambling dens in Bangkok's Pratunam area to dismantle them within 30 days, the police inspector-general said yesterday.

The order was issued at the request of the Ratchathewi District Office. It applies to unauthorised renovations of buildings by unnamed owners, General Seriphisut Temiyavej said.

The owners would have to pay for disassembly work performed by the district office.

Seriphisut said he was working with the Crime Suppression Division to gather evidence against Metropolitan Police officers suspected of having let the casinos operate in their precincts.

[KatoeyLover69]

Report from The Nation dated Thursday 16 March 2006 -

More banks announce higher interest rates : Increased competition for depositors sparks the moves

Krung Thai Bank (KTB), Siam Commercial Bank (SCB), Bank of Ayudhya (BAY) and TMB Bank yesterday followed in the footsteps of Bangkok Bank (BBL) by raising their interest rates. BBL caused widespread surprise when it sparked the latest moves by jacking up its interest rates twice in one week.

Other banks, including Kasikornbank, are expected to soon follow the trend, which reflects intensified competition between banks to attract deposits.

State-owned KTB announced it would today increase its interest rates for time-deposit accounts and lending by 25 to 50 basis points, the same rates as BBL.

KTB's fixed three-month deposit rate will rise to between 3 per cent and 3.75 per cent, six-month to between 3.25 per cent and 4 per cent, 12-month to between 3.5 per cent and 4.25 per cent and 24-month to 4.25 per cent. The range of interest rates in each case depends on the amount on deposit.

The bank's minimum lending rate (MLR) was increased to 7.25 per cent from 7 per cent, the minimum overdraft rate (MOR) to 7.5 per cent from 7.25 per cent and the minimum retail rate (MRR) to 7.75 per cent from 7.5 per cent.

Siam Commercial Bank's lending and deposit rates are to increase by 25 basis points, taking effect tomorrow. The bank's three-, six-, and 12-month rates will increase to between 3 per cent and 3.75 per cent, between 3.25 per cent and 4 per cent, and between 3.75 per cent and 4.5 per cent, respectively.

Its MLR will be increased to 7.25 per cent, MOR to 7.5 per cent, and MRR to 7.75 per cent.

The Bank of Ayudhya (BAY) only raised its three-, six- and 12-month time-deposit rates, by 25 basis points each, with retroactive effect from Tuesday. It left its lending rate unchanged.

BAY's MLR is now the same as the larger banks, at 7.25 per cent, while its MOR and MRR, staying at 7.75 per cent, are still 0.25 per cent higher than the larger banks.

TMB Bank announced that it would increase by 25 basis points both its loan and deposit rates today.

Bangkok Bank (BBL) spearheaded the fifth interest-rate hike since September last year when it raised its time-deposit rates by between 20 and 25 basis points. The move surprised observers because the announcement came only one week after it had hiked rates.

A Bank of Thailand (BOT) senior official said the series of interest rate hikes by commercial banks could be attributed to intensified competition in a bid to lock in long-term costs of funding amid upward interest rate trends.

Kasikornbank, the country's third-largest bank, will consider an interest-rate rise at a meeting today.

TMB Bank's chief executive, Subhak Siwaraksa, said that since early this year commercial banks had raised rates higher and more quickly than expected, to align with global market trends and Thailand's 14-day repurchase rate.

He said the US Federal Reserve would possibly raise its policy rate another two times this year and the Bank of Thailand was expected to follow suit, as the central bank aims to raise its key rate until the real interest rate enters positive territory midway through the year.

"One main factor in the fast interest rate hike trend is tougher competition in the banking industry. At the same time, liquidity has been absorbed," Subhak said.

He predicted that domestic interest rates would peak around the second half of this year and gradually decline after that.


Somruedi Banchongduang
The Nation

------------------------------------------------------------------------------------------------------

Loan-to-deposit ratio down

The loan-to-deposit ratio of Thai commercial banks in January declined to only 87.96 per cent, the lowest in 16 months, amid competition for deposits.

The ratio has not been this low since August 2004 when it was 87.84 per cent reflecting low lending compared to deposit increases.

In December last year, the ratio was 90.9 per cent.

Tongurai Limpiti, senior director of the central bank's Financial Institutions Policy Group, said yesterday that the lower ratio was partly due to investors waiting for the political uncertainty to clear up before making decisions to seek loans. In addition, banks are boosting their deposits by raising deposit rates to lock in long-term costs of funds.

"Now lending has ground to the halt," she said. "Investments have stopped to wait for the political situation to become clearer. But all banks have kept their lending targets."

Whether banks will be able to achieve their targets depends on several factors. Over the past two years, banks have missed their loan targets because of high oil prices, bird flu, the tsunami, and the southern insurgency.

Tongurai said banks were also increasing their deposit bases to lock in long-term funding costs. This reflects their plans to expand lending significantly in the future.

The loan-to-deposit ratio was once boosted to as high as 143.26 per cent at the end of 1997 when Thailand was hit by a financial crisis.

Meanwhile, the central bank will launch the last draft of banking regulations regarding Basel II, the new international banking standard for risk management. In June, banks will have to inform the Bank of Thailand about their choice of standards between the standardised approach and a so-called internal ratings-based approach. The former is a less complicated method.



Anoma Srisukkasem
The Nation

[KatoeyLover69]

Report from The Nation dated Thursday 16 March 2006 -

Osotspa in global energy-drink push

Osotspa is going global in a big way, aiming to push its Shark and M-150 energy-drink brands into the top three in the world by 2010, backed by a war chest of at least Bt10 billion.

"We will be more focused on international business. And all working functions will work together to focus more and support our international business rather than domestic. It will be a new chapter for Osotspa to become a real global company," executive chairman Ratch Osathanugrah said yesterday.

The manufacturing and trading conglomerate, which has 65 per cent of the energy-drink market here, set up Osotspa International Co Ltd (OSI) last month to spearhead its international activities.

Under its new corporate vision of "Osotspa Goes Global", Shark will be promoted as a global brand for both carbonated and non-carbonated energy drinks, while M-150 will become a brand for Southeast Asia.

Soonthorn Kengvibul, president of OSI, said worldwide demand for energy drinks, including in Thailand, would surge from Bt320 billion last year to Bt550 billion in five years. Osotspa aims to boost its share of that market from 9 per cent now to 12-15 per cent by 2010.

Osotspa can only envy the head start that Red Bull has. As the first energy-drink brand established worldwide, particularly in Europe, Red Bull sells more than four billion units a year, good for about 55 per cent of the global market.

Red Bull is run by an Austrian firm, with ties to the original Thai producer.

Osotspa's five-year strategy focuses on overseas plants, marketing offices and distribution. It plans to open factories for energy drinkss in densely populated markets including Bangladesh, India and China to tap into their huge demand as well as to overcome high import duties. The plants in Hua Mark of Bangkok and in Ayutthaya are also due for upgrading and expansion to cope with rising exports. The plants have a combined capacity of more than 1.8 billion units a year.

"We plan to export our energy-drink products to Bangladesh within three months and to set up our factory there by next year," Soonthorn said.

Marketing offices have been set up in major markets - Austria, the UK, the US, Burma, Indonesia and Vietnam - to promote awareness of its energy drinks. Its representative office in China is conducting a market study to lay the groundwork for rolling out its energy-drink business in the near future.

More than Bt1.5 billion will be spent this year to promote the company's energy drinks in major markets globally.

"We have set a target to enter all potential markets around the world. They are the US, South America and the Middle East, including Iran, Yemen and Saudi Arabia. We will actively expand our energy-drink products in major markets in Asia such as China, India, Bangladesh, Pakistan and Indonesia," Soonthorn said.

Ratch said group sales increased 8 per cent to Bt16 billion last year, of which 60 per cent came from energy drinks, 30 per cent from consumer goods, and 10 per cent from pharmaceuticals. Group sales are expected to reach Bt20 billion by 2010, he said.

"We would like to double the proportion of our international business from 10 per cent last year to 20 per cent in three years," he said.

Soonthorn said the firm's five-year plan emphasised huge brand investments in high-growth and high-demand markets.

It will be flexible in expanding its energy-drink business country by country.

It will start by appointing local distributors in a country. They will be responsible for only physical distribution, while OSI will handle all marketing activities.

The next step will be to recruit a qualified and experienced distributor to take care of both distribution and marketing. OSI will subsidise all brand-building expenses. As the market matures, OSI will enter into joint ventures with local distributors or manufacturers for local production of its energy drinks based on a profit-sharing formula.

The last scenario is for it to implement integrated operations for manufacturing, marketing and brand-building, in select countries with high potential.


Kwanchai Rungfapaisarn
The Nation

[KatoeyLover69]

Report from The Nation dated Thursday 16 March 2006 -

Kathleeya McIntosh returns home from USA

Thai entertainment princess Kathleeya 'Mam' McIntosh finally came home with her son and husband.

According to Thairath newspaper, a newshound who has been constantly reporting Mam's news ever since she left the Kingdom to deliver her first son, Siri "Mac" Krachangnetra, Mam and her husband Songkran "BB" Krachangnetra arrived at Don Muang International Airport by Thai Airways flight TG 795 from Los Angeles at 6.40am Thursday.

Reporters spotted Mam and her husband pushing a stroller where Mac was sound asleep at Los Angeles Airport followed by a lot of suitcases looking ready to eventually come home.

Both looked friendly and greeted a group of reporters and fans with smiley faces but declined to give any interview until after they had checked in on their flight.

When asked if she had anything to tell her friends before she came home. She paused and said, "I love all of my fans and thank you so much for their concern about myself and my family. But we'll wait and see what happens about what I'll do once I return to Bangkok."

[KatoeyLover69]

Report from The Nation dated Friday 17 March 2006 -

Opposition slams proposal to delay vote

The opposition yesterday gave the cold shoulder to the Election Commission's suggestion that the April 2 election could be postponed, saying a delay would not solve the political crisis.

However, leading government figures expressed support for the idea.

On Wednesday, EC chairman Vasana Puemlarp said the agency was considering putting off the polls. His remark followed the disqualification of more than one-third of the candidates, leaving more than half the constituencies in 71 provinces with just one candidate.

Jurin Laksanavisit, deputy Democrat Party leader, said after a meeting of opposition coalition representatives at the party's headquarters yesterday that putting off the election would not solve the political crisis, the "root cause" of which was Prime Minister Thaksin Shinawatra.

Changing the date of the election would be no guarantee of a free and fair poll, he said.

Democrat leader Abhisit Vejjajiva echoed Jurin's remarks, saying the major concern over the election was with its credibility.

Satit Wongnongtoey, a Democrat Party executive member, said that by postponing the election, the EC would be giving Thaksin more time in office. Public discontent with the prime minister would only grow as a result, he said.

Chaturon Chaisang, deputy Thai Rak Thai leader and the caretaker education minister, expressed support for a delay in the election, which he said would allow more qualified people to take part after 320 of the 941 registered candidates were disqualified.

He said that with qualified candidates facing little or no contest in most constituencies, the results of the vote would not be acceptable to the public.

TRT deputy leader Sudarat Keyuraphan said the ruling party would not protest if the EC postponed the election. "We are well prepared. We even proposed a postponement before the candidate registration period closed," she said.

Election commissioner Virachai Naewboonnien said yesterday the April 2 polls should go ahead. If any problem arose after the election, such as all 500 House seats not being filled, it would be the duty of the administration to take care of it, he said. "The election result will indicate what should be done next for the government, the opposition and the People's Alliance for Democracy," he said. The alliance is staging the anti-Thaksin rally outside Government House.

[KatoeyLover69]

Report from The Nation dated Friday 17 March 2006 -

DEFIANT THAKSIN: I'll retreat no further

After 'fleeing' for another 'exile trip', beleaguered PM insists he'll decide after April 2 poll on whether to 'take a break'

A day after the Privy Council president pleaded for all parties in the political crisis to restore peace - which has been labelled a "direct message" to Prime Minister Thaksin Shinawatra to make a "major decision" - the caretaker premier insisted yesterday he would wait until after the April 2 election before deciding whether or not to take a break from politics.

"I haven't considered taking a pause," he told reporters at a campaign stop in Nakhon Ratchasima yesterday. "But after the election, I might or might not be the prime minister. This is the way of democracy."

Thaksin will continue his "exile trips" to the provinces and may not return to his Government House office until the election, to avoid confronting protesters besieging the compound, reports say.

Anti-government demonstrators who were waiting to meet Thaksin at Government House yesterday were disappointed to learn that he changed his mind about visiting his office in compound.

Instead, Thaksin held the meeting on organising the 60th anniversary of His Majesty the King's accession to the throne at the Ministry of Foreign Affairs.

PM's Office Minister Newin Chidchob said Thaksin wanted to avoid a confrontation that could have lead to violence.

Government Spokesman Sura-pong Suebwonglee, however, gave another reason.

He said Thaksin did not want to cause trouble for Cabinet members and their aides who would have to brave the crowds besieging Government House.

Thaksin's response yesterday to questions about whether he would take a break from politics contradicted statements he made on Wednesday.

Then, he said he was considering "going on a break" but only in the best interests of the country and not under pressure from his opponents.

In response to a proposal that he take his "political pause" after the Constitution is amended, he said it was an irresponsible suggestion.

"Why don't they write in the charter that Thaksin [Shinawatra] is not allowed to enter politics?" he said. "Some people would love to see it."

A number of anti-Thaksin groups have called for his resignation as caretaker PM to end the political crisis and pave the way for a royally-sponsored prime minister to oversee charter amendments before an election takes place.

Thaksin has refused to step down.

Thaksin also responded to Privy Council President Prem Tinsula-nonda's plea on Wednesday to take a "step back" for reconciliation.

A source quoted a trusted aide of Prem as saying the statement was a "direct message" to Thaksin to step down.

Thaksin said he had made attempts to reconcile with his critics during recent weeks.

"I've already made several steps back," he said. "All sides need to play by the rules. If they do, the crisis will surely end. I myself stick strictly to the rules."

Thaksin has been away from Bangkok during recent weeks, campaigning in the provinces while thousands of people have been besieging Government House to pressure him to quit.

He is said to be "fleeing" the protesters.

He left Nakhon Ratchasima for Bangkok early yesterday morning to chair a government meeting and preside over an education fair.

During the in-bound trip, Thaksin made a stop at Nakhon Ratchasima's Pak Chong district to preside over the opening of the "Cowboy Market".

He stopped next at Ayutthaya's Wang Noi district to greet thousands of grass-root supporters from the North and the Northeast who are walking to Bangkok to try to overshadow the anti-Thaksin protestors at Government House.

After chairing the meeting at the Ministry of Foreign Affairs, Thaksin spent about an hour after lunch at the Dusit Thani Hotel's Devarana Spa, where he normally gets his hair cut.

Thaksin will campaign today in Kanchanaburi and travel to the North next week.

"I can administer the government over the telephone," Thaksin said in response to questions about how he could run his government while being "in exile" from the capital.

He declined, however, to say whether he intended to keep a distance from his Government House office until the election.

Thaksin last night reportedly changed his regular route to his residence in Soi Charunsanitwong 69, which normally passes Government House, in order to avoid passing the protesters.


Piyanart Srivalo & Worranaree Kosajan
The Nation

[U-Need]

PATHUM THANI, March 17 (TNA) - Tens of thousands of rural farmers pledged on Friday that they would not directly confront the rival rally conducted by anti-prime minister Thaksin demonstators who continue to ring Government House.

The farmers began marching by foot from the outskirts of Bangkok Friday morning towards the capital, minus their caravan of farm trucks for fear of causing traffic gridlock in the city centre.

Kamta Tanboonchan, chairman of the so-called Caravan of the Poor (COP), a coalition of small farmer's groups from the North and Northeast, told reporters that his grass-roots companions began marching from Pathum Thani north of the city at 9.30am. They are expected to gather at the Chatuchak area this evening, not far from the Mor Chit bus terminal.

"We will call a meeting there to consider whether to move from Chatuchak to Government House," said Kamta "There will be no clash between our groups and those demonstators led by the People's Alliance for Democracy."

He was referring to the coalition of groups behind the anti-government rally campaign who since Tuesday continued to surround Government House, the official seat of government, vowing that their peaceful virgil will not stop until caretaker Prime Minister Thaksin Shinawatra steps down.

The COP leader stressed that the intention of his group is to demonstrate its support for the embattled premier to remain in office, to present problems of the poor for Cabinet consideration on March 22 and to campaign for all conflicting parties to mend their differences through peaceful talks to seek common ground on ending the deeping political crisis.

Meanwhile, the caretaker prime minister is travelling to the west central province of Kanchanaburi where he is scheduled to meet representatives of the sugarcane growers and processing industries.

Mr. Thaksin has been away from the capital for weeks canvassing for his Thai Rak Thai party's candidates contesting the April 2 snap general election. His busy schedule will keep him away from Government House next week. (TNA)-E001

[U-Need]

BANGKOK, March 17 (TNA) – As its plan to partially list in the stock market crumbles amidst opposition, the executive board of state power utility EGAT will meet to decide on Friday how to buy back shares that have been sold to its staff.

The share buy back plan tops the agenda of the Board meeting of the Electricity Generating Authority of Thailand. EGAT’s plan to make an initial public offering of shares has been stalled by opposition from consumer groups and unions, and its listing plan is further complicated by the current political turmoil.

Against such backdrop, the Board will decide today details of how to reimburse EGAT employees who have bought shares in anticipation of the IPO, according to Nokhun Sithipong, Deputy Permanent Secretary for Energy who’s acting chairman of the EGAT Board.

EGAT has agreed in principle to reimburse employees who bought shares and who wish to return them. The Finance Ministry has also agreed to reimburse the withholding tax charged upon purchase of those shares.

Mr Pichai Chulapongsathorn, secretary to the EGAT executive board said a survey has been conducted among 26,000 employees who bought the shares. Among some 15,000 respondents, 10,000 said they want to return the shares while some 5,000 said they would hang on to them.

“The Revenue Department has made special allowance for tax refund deadline to be possible beyond the annual tax year-end deadline of 31 March, taking into account the fact that it’s not the employees’ fault that the listing does not go ahead as planned,” he said.

In addition to the tax refund, EGAT will also reimburse interests for employees who borrow money to buy the shares.

EGAT employees have bought 510 million of pre-IPO shares to the value of 6.9 billion baht. Some three billion baht of these were loans from the EGAT co-operatives.

The Supreme Administrative Court is yet to deliver its ruling on whether EGAT can go ahead with its listing or not. Previously the Administrative Court put the listing plan on hold. (TNA)-E007