Anything & Everything About Thailand

[KatoeyLover69]

Report from The Nation dated Wednesday 8 March 2006 :-

March 14: a big day for many reasons

Thaksin has been resorting to all kinds of delaying tactics to hang on to his premiership, albeit in a caretaker role, probably to make sure that the Shin Corp takeover does not collapse.

All eyes are now focused on April 2, as people bet on whether the snap election will be held or not. But before that, March 14 is another watershed date to watch out for.

On that day, shareholders of Shin Corp, who have expressed a commitment to sell their stocks through a public tender offer, will get their cheques from Cedar Holdings and Aspen Holdings, both subsidiaries of Temasek Holdings of Singapore.

One financial source has said that Temasek received an assurance from Prime Minister Thaksin Shinawatra that he would see through the public tender for 100 per cent of Shin Corp stocks.

This is probably a key reason why Thaksin has been resorting to all kinds of delaying tactics to hang on to his premiership, albeit in a caretaker role - to make sure that the Shin Corp takeover does not collapse.

Today is the last day of the tender offer for Shin stocks (Bt49.25 a share), which has been going on since March 2. In the tender document, Cedar Holdings and Aspen Holdings have made it clear that they have the right to alter the terms of the tender offer if there are any unexpected events that adversely affect the status or the assets of Shin Corp. The deadline for this clause is 4.30pm, after which Cedar Holdings and Aspen Holdings will not be able to alter the tender-offer terms.

Investors, however, have been quite nervous over the Shin Corp deal, given the shaky status of the caretaker prime minister and the growing anti-Singapore sentiment in Thailand. Activists attached to the People's Alliance for Democracy, campaigning for the unconditional resignation of Thaksin, have already submitted letters to the Singapore Embassy calling for Temasek to pull out of the Shin Corp deal. They have threatened to rally for a boycott of Shin Corp services and other businesses owned by Singaporean firms if Temasek insists on going ahead with the takeover.

Shin Corp stocks have collapsed to Bt44, a far cry from the tender offer price of Bt49.25, reflecting investors' nervousness as to whe-ther the tender offer will succeed.

Sondhi Limthongkul, a key member of the People's Alliance for Democracy, has also set March 14 as the day when anti-PM protesters will march all the way from Sanam Luang to confront the prime minister at Government House. There, he and his coalition partners will submit a letter to the prime minister, applying further pressure on him to resign from politics unconditionally.

Sondhi must have also sensed the critical timing of March 14, when Thaksin no longer has any obligations to Temasek over the Shin Corp tender offer. Yet Sondhi got it slightly wrong when he said that Thaksin had refused to step down from office because his family wanted to wait until it received full payment of Bt73.3 billion from Temasek for the sale of its 49-per-cent stake.

There are two parts of the Shin Corp deal. First, Temasek bought 1.4 billion shares, or 49 per cent, from the Shinawatra and Damapong families for Bt73.3 billion. The transactions of this buyout were conducted on January 23 through six brokers. Full money has been paid out to the Shinawatra and Damapong families, who have deposited the cash at Siam Commercial Bank, Bangkok Bank, Kasikornbank, Thai Military Bank and others.

The head of one financial institution said nobody - except the Shinawatra family and Temasek - really knows whether there is any buyback agreement between the Shinawatra family and Temasek in the event of unpredictable events that could pose a significantly adverse threat to the status or assets of Shin. But, the source said, the Shinawatra family would prefer to hold on to the cash and a buyback was virtually unthinkable.

The second part of the Temasek's buyout is a mandatory tender offer for the remaining 51 per cent of Shin from other shareholders. Temasek could have to dish out another US$1.8 billion (Bt70.6 billion) for the remaining shares. This part of the takeover closes today, with payment due to be made on Tuesday (March 14).

If the tender offer ends well by March 14, then Thaksin will no longer have any obligation to remain in office amid mounting pressure for him to resign. He can't weather the political storm ahead without backing off because the country is enduring a political crisis of enormous magnitude with a bitter divide among the populace and various institutions.

The country's three most powerful private sector organisations - the Federation of Thai Industries (FTI), the Thai Bankers' Association and the Board of Trade of Thailand - have failed so far to issue a clear joint position about the current political paralysis. Their views will carry significant weight in determining the outcome of the crisis, but they have preferred to take a wait-and-see attitude, not wanting to exacerbate Thaksin's predicament.

Earlier, Board of Trade chairman Pramon Sutheevong said the three private-sector organisations would convene and come up with their joint position on March 14. This is no coincidence because the private sector organisations must also realise the importance of this date.

But yesterday the three private sector organisations had an abrupt change of mind. FTI vice chairman Somphong Tancharoenphol said the three organisations would postpone its meeting on Tuesday due to the uncertain political situation.

There is a possibility that Thaksin will be advised by his team to step down from office by March 14 too, so that the political deadlock is resolved, paving the way for national reconciliation. But whether Thaksin will listen to this advice or not remains to be seen. So far he has proved to be very recalcitrant. And Thai politics now is as unpredictable as ever.


Thanong Khanthong
The Nation

[KatoeyLover69]

Report from The Nation dated Wednesday 8 March 2006 :-

Interactive television looks set to touch the masses

The days of creating your own television channel are not far off, thanks to the emergence of new Internet protocol technology, executives of French telecom infrastructure group Alcatel say.

Alcatel, which is working on 30-40 IPTV (Internet protocol TV) projects worldwide, believes the interactive television technology will make its presence felt among ordinary customers in many countries this year.

"I think 2006 will be the year in which IPTV becomes visible by mass-market consumers," said Geof Heydon, director for innovation and marketing development for Alcatel Asia Pacific.

In Thailand, where reality shows like "Big Brother" are popular, the chances of the successful launch of an IPTV network are quite promising, he said, although the country may need to wait for broadband penetration to increase to at least 25 per cent, up from 15 per cent now.

An IPTV in the home will work more like a PC than the old television receiver. Similar to websites, viewers can create their own content and share it with their friends, family or anybody who might like to watch it. In other words, you can make your own television channel.

Based on its "triple play'' capabilities, IPTV can be used to accept or record a phone call, pre-record a television programme and watch it at leisure, pause a live football game, and vote on a show, among other things. Heydon said that compared to SMS voting, pushing a button on the IPTV's remote would be cheaper, thus encouraging more viewers to vote during a programme.

Viewers can see what programmes attract most audiences on a real-time basis and click for the shows. Because of its triple-play capabilities, people with cell phones can also use them from outside their home to send a message to their IPTVs to record shows.

"You can order a programme with a pizza," added Laurent Perche, mobile product leader of Alcatel (Thailand).

Alcatel forecasts there will be 72 million IPTV users worldwide by 2010, about 5 per cent of the 1.4 billion television households in the world.

One of its largest IPTV projects under way is with US network operator SBC Communications, which is investing US$1.6 billion (Bt62.7 billion) to capture five million households within the next three or four years. In Asia, Singapore Telecommunications has recently agreed to Alcatel starting a trial run on an IPTV network.

Philippe Chettou, managing director of Alcatel (Thailand), said that due to language differences, the availability of local programmes to be offered on IPTV was also a key factor for the successful launch of an IPTV service in Thailand.

[KatoeyLover69]

Report from The Nation dated Wednesday 8 March 2006 :-

Economists urge S'pore, Temasek to break silence

Local economists yesterday urged the Singaporean government and Temasek Holdings to break their silence before the simmering anti-Singaporean sentiment gets out of proportion.

Sompop Manarungsan, an economics lecturer at Chulalongkorn University, suggested that the Singaporean government and state-owned Temasek Holdings should end their silence over the controversial sale of Shin Corp to Temasek, the deal that sparked the current political turmoil. Temasek has to provide more information to the Thai public about its investment intentions in Thailand and its broader business strategy.

He said Temasek should also to make clear the Singaporean government's role in Temasek Holdings. "The Thai public hasquestions about the transparency of Temasek and the Singaporean government," Sompop said. He warned that public resentment against the Shin Corp deal could lead to a boycott of Singapore's interests beyond the Shin Corp empire.

"It would be a great loss if other businesses - in which both sides mutually gain - would also be hurt," said Sompop.

Somkiat Tangkitvanich, researcher at the Thailand Development Research Institute, said Temasek should consider selling off sensitive businesses such as iTV and other enterprises that use Thailand's limited resources

New buyers have to be accepted by Thais, he suggested. Somkiat agreed with protestors who are threatening to boycott products and services of Singaporean businesses to express their disapproval of the Shin Corp deal.

Aat Pisanwanich, economist at the University of the Thai Chamber of Commerce, said Thais felt that Singapore was using its financial clout to take advantage of the weaker Thais.

"A threat of boycott could be real and it will hurt AIS, the operator of largest mobile phone system [in the country] and part of the Shin Corp empire. A large numbers of academics and students in Bangkok who have joined the rally against caretaker Prime Minister Thaksin Shinawatra are currently customers of AIS," said Aat.

Moreover, the campaign against Thaksin will not end soon, and therefore Temasek faces higher risk, he said. Aat surmised that Temasek wanted to pull out of the deal.

An investment analyst from a research institution in Singapore told The Nation, "I am also worried about the impact this might have on bilateral relations going forward. Even after the saga ends, there may be some negative attitudes towards Singapore . . . I hope that bilateral relations will withstand this unpleasant period."

Senator Kraisak Choonhavan predicted that Temasek Holdings might find it difficult to unload two problematic subsidiaries - Shin Satellite Plc and iTV Plc - because the two are not a good buy. Many Thais have expressed concerns over the sale of the two companies that are deemed part of the national security.

Kraisak said at a meeting with foreign chambers of commerce that eventually Temasek would have to sell the two companies because under the foreign business law, foreigners are not allowed to hold a major stake in them. For instance, foreigners can own only up to 20 per cent in a broadcasting business, which will directly affect Temasek's acquisition of iTV.

"The only legal sale in this deal is Advanced Info Service Plc," he said.

However, the other two companies are not a "profitable buy" because of their financial burdens. For instance, iTV still has an overdue concession fee of Bt450 million on its books.

The People's Alliance for Democracy has threatened to launch a campaign against Singapore today if it does not drop the Shin Corp deal.

Meanwhile, Lim Hwee Hun, Singapore's minister of state for finance and transport, on Tuesday met with Finance Minister Thanong Bidaya, who refused to say if they had discussed the Shin Corp- Temasek deal.


Wichit Chaitrong
The Nation

[KatoeyLover69]

Report from The Nation dated Wednesday 8 March 2006 :-

Famous brand: Launch of Barbie bags and cosmetics

The makers of Barbie, the world-famous doll, yesterday announced that it would join Thailand's handbags and cosmetics market with the launch of the Barbie bag and Barbie cosmetic collections.

Barbie bags and cosmetics will be available at 40 department stores and other retail outlets by the end of this year.

Kids & Teens Co Ltd has the exclusive distribution licence for the collections from Mattel Inc of the US. General manager Sherene Thanaphathanawiboon said that the company had set up an advertising budget Bt3 million to promote the product in Thailand.

[KatoeyLover69]

Report from The Nation dated Wednesday 8 March 2006 :-

Conrad Phuket opens in '07

After a two-year-delay, the Conrad Phuket Resort and Spa is scheduled to open next year. It follows the Conrad Bangkok, which has been open for more than three years. The resort will be its sixth in Asia after Hong Kong, Singapore, +++yo and Bali.

Conrad Bangkok general manager Gregory Meadows said yesterday the resort would cater to the high-end leisure market, attracting guests from Western and wealthy Asian countries.

The resort on Cape Panwa Bay was set to open last year. Its 107 rooms come in four styles, including villas, each situated on a hillside with an ocean view.

Conrad Phuket is a US$15-million (Bt584.76 million) redevelopment and re-branding of the Panwaburi Resort and Spa, commissioned to Hilton International by its owner, Resort Holdings Co Ltd, in 2003. Hilton International operates the Conrad brand.

Meadows said Conrad Bangkok is the first hotel in Bangkok, even the world, to provide a luxury limousine service to its guests.

Conrad Bangkok is running 95 per cent full and is expected to be 85-per-cent occupied for the entire year, the same as last year. Almost all its guests are businessmen from Singapore, Hong Kong, Taiwan and the US.

The political turmoil has had no effect yet. "There have been no cancellations," Meadows said.


Suchat Sritama
The Nation

[KatoeyLover69]

Report from Bangkok Post dated Thursday 9 March 2006 :-

Boycott campaign gains momentum

The campaign to boycott products and services provided by Shin Corp and Singaporean businesses is gaining momentum as the People's Alliance for Democracy (PAD) uses the purchase of Shin Corp shares by Temasek Holdings to pressure caretaker Prime Minister Thaksin Shinawatra to step down.

The campaign strategy to unseat Mr Thaksin has now shifted towards consumers as activists draw up a ''boycott list'' of goods and services linked to Shin Corp and Singapore.

Consumer rights activists believe the negative ''economic momentum'' added to the protest efforts will hasten Mr Thaksin's demise.

The Foundation for Consumers and supporters of PAD picketed the embassy of Singapore yesterday, which has become a target of ire after the Singaporean government's investment arm, Temasek Holdings, bought shares of Shin Corp in a deal valued at 73 billion baht.

Some of the products and services provided by Shin Corp and Singaporean businesses include banks, airlines and hotels.

Rosana Tositrakul, head of the Federation for Consumer Rights Protection, said yesterday that the campaign would spread across Bangkok, beginning at key locations on Silom road and Chatuchak weekend market.

Somsak Kosaisuk, a core leader of the PAD, said the alliance was compiling a list of Singaporean investments in Thailand and would make the information public.

About 20 members of a slum group and the PAD also rallied at Shin Corp's headquarters on Vibhavadi Rangsit road and destroyed SIM cards for mobile phones operated by Advanced Info Service (AIS), a unit of Shin Corp.

Saree Ongsomwang, manager of the Foundation for Consumers, said she expected more people to discard their AIS SIM cards over the coming days.

Fifty boxes would be erected around Bangkok where people can drop off their unwanted SIM cards.

Thirty city police were despatched to guard Shin Corp headquarters. In a symbolic gesture, a large mock-up SIM card carrying the messages: ''No Dignity for AIS Users'', and ''Thailand Is Not for Sale'' was burned.

AIS, the leader in the provision of mobile phone services, is reportedly losing customers to DTAC, the number two.

A major firm in the service sector is apparently switching from AIS to DTAC at the end of the month in what an executive said was a deliberate boycott of AIS rather than a move brought about by competitive incentives offered by DTAC.

Industry sources estimate AIS has about 16 million customers, DTAC eight million and True 4.5 million.

Some consumers are already boycotting products linked to Mr Thaksin and his cronies. A businesswoman who runs a private school said she no longer buys products linked with Mr Thaksin. She said she had stopped serving Nescafe at her school and had switched to rival brands. Nescafe is manufactured in Thailand by a beverage empire owned by Prayudh Mahakitsiri, Thai Rak Thai deputy leader. The woman said she had thrown away her AIS phone and subscribed to DTAC. She has also refused to buy her new handset from MLINK, a firm run by one of Mr Thaksin's sisters.

Amornrat Wongsaenganan, 39, an office worker, said she will switch to DTAC next week. ''AIS is no longer a Thai firm, so there's no reason for me to patronise it.'' Somprasong Boonyachai, executive chairman of AIS, said the company was still registering subscriber growth.

Sigve Brekke, DTAC's chief executive, also played down any impact recent political uncertainties were having on business. He said the company's subscriber base was growing on target thanks to several new promotional campaigns.

Subhak Sivaraksa, president of TMB Bank, which has Singaporean bank DBS as a major shareholder, said he disagreed with the boycott, warning it could hurt Thailand's image in the world market.

[KatoeyLover69]

Report from Bangkok Post dated Thursday 9 March 2006 :-

Singapore PM asked to look into Shin deal

The Senate foreign affairs committee chairman has called on the prime minister of Singapore to address alleged ''impropriety'' in the sale of Shin Corp shares to Temasek Holdings to save good bilateral relations with Thailand.

Kraisak Choonhavan, in a letter to Singapore's parliament speaker, expressed concern over a growing sense of discontent among Thais over a perceived lack of transparency surrounding the transaction.

Ongoing mass protests in Bangkok and across the country could affect good relations between the two countries, as well as between the two peoples, he said.

Profits from the deal obtained by Prime Minister Thaksin Shinawatra and his family have raised doubts over conflicts of interest. Information regarding the deal also indicated irregularities, including repeated disclosure violations by members of Mr Thaksin's family and allegations of tax evasion, insider trading and asset concealment involving both the Thai majority owners and Singapore-based financial institutions, he said.

The acquisition would not normally have been completed under Thai law due to limits on foreign ownership concerning three of the four Shin Corp subsidiaries, he said. His committee and the Senate ad hoc committee against corruption would have to investigate those legal aspects.

''I truly feel the relationship between our countries must not be jeopardised as a result of a single business transaction, especially since Singapore is respected throughout the international community for her belief in the values of transparency, accountability and good governance,'' Mr Kraisak said.

He called on the prime minister of Singapore and the country's parliament speaker, ''to help address allegations of impropriety from this transaction and clarify any misunderstanding between our peoples''.

The Kraisak committee also held a two-hour meeting with 11 foreign chambers of commerce at parliament yesterday to brief them on the current political situation.

Mr Kraisak would also hold a similar meeting with ambassadors and foreign diplomats tomorrow. This may include leaders of other political parties, including Democrat leader Abhisit Vejjajiva.

''Several senators, as well as the Democrat party's former party-list MP Kiat Siithi-Amorn explained to the foreign business chambers the reasons behind the election boycott, the problems regarding the ethics of the government, as well as discussing the lack of legitimacy in the government's free trade area [FTA] talks, in which it failed to hold consultations with parliament,'' Mr Kraisak said.

He said the foreign businessmen did not seem too concerned over whether or not the prime minister would resign since they believed the economy was moving on the right track.

A number of officials at the Foreign Ministry showed up for work dressed in black yesterday to show their discontent over the current political impasse.

A group of slum activists staged a protest in front of the Singapore embassy yesterday before joining a rally held by the People's Alliance for Democracy at the Shinawatra Tower building.

[KatoeyLover69]

Report from Bangkok Post dated Thursday 9 March 2006 :-

MBK acquires local tour operator

MBK Plc, the retail and hotel operator, has acquired a local outbound travel agent, Kitima Travel & Co, to strengthen its tourism operations. It also plans to enter a venture with a foreign partner for inbound travel this year to enable MBK to provide more comprehensive tourism and travel services.

According to Suvait Theeravachirakul, the company's president and CEO, MBK spent ''millions of baht'' to acquire the local travel agency last December and is planning a joint venture with a German inbound tour operator.

MBK group will hold a minority stake in the new Thai-German joint venture, he said.

The move will give MBK an insight into tour operations, which should translate into more earnings for its hotel business in the long run, Mr Suvait said.

After the takeover, Kitima Travel & Tour Co has since changed its name to MBK Leisure Co, Ltd, and offers a full range of tourism services including ticketing, hotel reservations, car rent and tourist programmes.

Mr Suvait said MBK had also expanded into the souvenir business under the MBK brand. The first products to be offered would be T-shirts starting this month.

Mr Suvait told investors at the Stock Exchange of Thailand yesterday that company was bullish on prospects for its new business operations.

During the first half of 2005, MBK's total revenue rose 0.31% year-on-year to 2.36 billion baht. Net profit slightly increased by 4.22% to 528.24 million baht.

He attributed the slight increase in revenue and net profit to the poor performances of the group's two hotel chains, Sheraton Krabi Beach Resort and Royal Princess Ranong, due mainly to the tsunami.

Mr Suvait said that the occupancy rate at the Krabi hotel declined to a record low of 22.7% in July last year, compared to the normal high-season rate of 80%.

He is confident, however, that the improvement in the tourism industry in the South would help raise MBK's revenue by at least 10% this year.

Meanwhile, its Mahboonkrong packed-rice business also showed poor results.

MBK shares closed on the Stock Exchange of Thailand yesterday at 47.50 baht, down 50 satang.

[KatoeyLover69]

Report from Bangkok Post dated Thursday 9 March 2006 :-

Radisson Group makes new developments

The Radisson Hotel Group has expanded into property development with the launch of its 2.3-billion-baht Green Ninth project.

Competition in the hotel business had driven the group to embark on the investment to make quicker returns, said the group's vice-president Vathana Paradorachai.

The decision to develop a condominium project on an existing 18-rai plot opposite the Radisson Hotel in the Rama IX area was partly due to a staff shortage in the hotel industry, he said.

The project, with nine, eight-storey buildings, would house 1,550 units sized between 25 and 75 square metres, and priced between one million and 3.6 million baht.

Construction of the first phase of 782 units would start in April.

Mr Vathana there was great demand for affordable condominium units in the Rama IX area.

He said the project was in a good location, close to the underground train and the new airport-link project.

The group had land plots in many locations, including one near Suvarnabhumi airport. It would consider developing more projects depending on demand.

Harrison Plc was appointed to handle sales and marketing of the project. Kitisak Janpaphippong, Harrison's executive vice-president, said about 20% of the units had already sold before the launch.

The company predicted 40% of buyers would be people working in Asoke, Ratchada and Rama IX areas, 10% would be working in the new airport, with the rest Thai and foreign investors.

He said rental yield was estimated at around 8-10% per year.

The group is also building a five-star hotel, Grand Pacific Resort on Cha-am beach. The 230-room hotel, worth around 2.5 billion baht, would open in September.

The group this year expected total revenue of 700 million baht and significant growth next year with the realisation of revenue from the new projects.

[KatoeyLover69]

Report from The Nation dated Thursday 9 March 2006 :-

Flying bowling balls land Thai national in Singapore jail

SINGAPORE - A Thai woman has been jailed for three months in Singapore after pleading guilty to throwing two bowling balls from her 11th-storey flat after a violent quarrel with her husband, court officials said Thursday.

Odd-job labourer Chaifu Charin admitted in the Subordinate Court Wednesday that she could have caused harm to others when the bowling balls, which belonged to her Singaporean spouse, were flung out.

Charin committed the crime in November last year when she came home drunk and hit her husband before throwing the bowling balls out of the flat, the court was told.

Agence France-Presse

[KatoeyLover69]

Report from The Nation dated Thursday 9 March 2006 :-

We can do nothing about the deal : Singapore Embassy

Singapore Embassy in Bangkok told anti-government activists that Singapore government could do nothing on Shin Corp's sell off to Tamasek Holding.

"A Singaporean diplomat informed us that it is true that Tamasek Holding belong to Singapore government but Shin Corp is a private Thai company. Therefore, the embassy cannot intervene into the deal in question," Rossana Toesitrakul, an activist said.

Rossana and two other activisits represented the anti-Thaksin protesters in meeting with a Singaporean diplomat inside the embassy. The protesters demanded that Temasek cancelled the deal with Shin Corps or face boycott from Thai people.

"We ask Singapore Embassy to reconsider the matter," Rossana said.

The protesters waiting in front of the embassy greeted Singapore Embassy's response with boos and jeers.

They then moved their protest to Stock Exchange of Thailand. Meanwhile several dozen protesters demonstrated Wednesday outside Shin Corp.'s Bangkok headquarters and carrying signs, "Thailand is not for sale,''

The protesters have produced a manual of Singapore and Shin products to be boycotted if Singapore did not meet their demands.

A far larger turnout was expected for the demonstration Thursday, the last day of a tender offer linked to the sale.


by Nantida Puangthong

[KatoeyLover69]

Report from Bangkok Post dated Thursday 9 March 2006 :-

Temasek 'won't reverse purchase'

Singapore (dpa) - Temasek Holdings was proceeding with the acquisition of additional shares in Thailand's telecommunications giant Shin Corp despite threats of a boycott of Singapore's products, analysts and financial executives said Thursday.

"It's a commercial decision at this point," said Greg Pau, an analyst at Standard and Poor's rating agency.

Temasek, 100-per-cent owned by the Singapore government, began an aggressive balancing of its portfolio almost three years ago. It bagged Shin Corp, one of the bluest of Thai blue chips, on January 23.

The Singapore government dispersed a statement among protestors in Bangkok that it has no control over Temasek, run by chief executive officer Ho Ching, the wife of Singapore Prime Minister Lee Hsien Loong.

Financial executives told The Straits Times that the original purchase of a 49.25-per-cent stake in the company had been completed and that Temasek was pushing ahead with the acquisition of additional shares as required under Thai corporate law.

Temasek remained silent as the 4:30 p.m. (0830) deadline set by the Bangkok protesters passed for the company to pull out of the deal.

The 1,000 demonstrators who assembled outside the Singapore embassy repeatedly called for the scrapping of the tax-free sale, which includes sensitive assets such as satellites and telephone networks.

Temasek, together with its Thai investors, bought the controlling interest from the family of Prime Minister Thaksin Shinawatra for 73.3 billion baht (1.9 billion dollars).

Now Singapore is threatened with a boycott from the Foundation for Consumers, which claims to have more than 10,000 members in Thailand and is part of the People's Alliance for Democracy, composed of 27 civic groups holding daily protests in Bangkok calling for Thaksin to step down.

"Companies more than 25-per-cent owned by Singapore interests face boycotts," said Salee Ongsomwang, leader of the foundation in Bangkok.

The 31-year-old Temasek's varied interests include DBS, South-East Asia's largest bank; the Thai Danu Bank; and Singapore Airlines.

Temasek's stated objective has been to rebalance its portfolio so that Singapore, the rest of Asia and developed Organization for Economic Cooperation and Development countries each make up one-third of its portfolio, Pau said.

The purchase of Shin and recent ones of China banks take the Asia portion to around 30 per cent, he noted.

Three days after bagging the Shin Corp deal, Temasek-unit PSA International announced that the board of London-based P&O had accepted its bid to purchase the port giant. Dubai-based port operator DP World submitted a counter bid that was considerably higher and consequently accepted.

"Temasek is turning its overseas investment drive up a few notches," an analyst said, citing its announced purchase this week of a 9.9-per-cent stake in an Indian mobile phone company from the Tata group, for which it is said to be paying 15 billion rupees (330 million dollars).

Tata has off-loaded its stake in Tata Teleservices Ltd to Temasek and another 7 per cent to Indian businessman C Sivasankaran.

It is Temasek's second major investment in the Tata group, one of India's most respected conglomerates.

[KatoeyLover69]

Report from Bangkok Post dated Thursday 9 March 2006 :-

Bomb explodes outside Gen. Prem's house

Bangkok (dpa) - Amid rising political tensions in Bangkok, a bomb exploded Thursday outside the home of former Thai prime minister Prem Tinsulanonda, damaging a car and injuring a British tourist, police and hospital sources said.

The explosion occurred at 2 p.m. local time near a security box outside Prem's house compound in Bang Lamphu district.

The homemade bomb, triggered by a remote control, injured two foreigners, one British and one Canadian, were injured in the blast

No one took immediate responsibility for the blast.

Foreign tourist Jeffeny King, 28, a Canadian who was passing the house at the time of the blast, was injured by shrapnel in his left shin, said a spokesperson at Vachira Hospital, where the man received treatment. A 51-year-old American was reported hurt as well.

Prem, a former army commander-in-chief who was prime minister between 1980 to 1988, is currently Privy Council chairman to Thai King Bhumibol Adulyadej.

Prem last month irked supporters of embattled Thai Prime Minister Thaksin Shinawatra with a speech about the king's guidelines on good governance that appeared to be slighting the premier.

Thaksin has been under intense pressure to resign since the January 23 sale of his family's 49 per cent stake in the clan-owned Shin Corp to Temasek Holding, the investment arm of the Singapore government.

The family sale of Shin Corp, Thailand's largest telecommunications conglomerate, has sparked accusations that the prime minister has improperly sold off national assets to a foreign firm.

"I'm still waiting for a report on the bomb," said Thaksin. "I don't know if it's just another means of raising tensions."

[KatoeyLover69]

Report from Bangkok Post dated Thursday 9 March 2006 :-

Bomb explodes outside Gen. Prem's house

[KatoeyLover69]

Report from The Nation dated Thursday 9 March 2006 :-

PAD believes Thaksin to resign end of this month

Leading members of the People's Alliance for Democracy expressed confidence on Thursday that Prime Minister Thaksin Shinawatra would resign at the end of this month.

PAD leading members held a meeting to assess the political situation and expressed the belief, a source from the meeting said.

The meeting saw that the Thaksin regime had been weakened and Thaksin would like to step down but he was trying to seek a guarantee that his assets would not be seized.

The source said the PAD also expected that the government might announce the state of emergency and arrest the five leaders of the alliance so the PAD was selecting a second group of leaders to replace them if they were arrested.