Anything & Everything About Thailand

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Report from Bangkok Post dated Wednesday 22 Match 2006 :-

COMMENTARY : Anti-S'pore stance lacks justification

By Boonsong Kositchotethana

It is understandable that the anti-Thaksin force has resorted to an anti-Singapore campaign to pressure the Singapore Government's investment arm Temasek Holdings to drop the controversial 73.3-billion-baht Shin Corp deal with the embattled prime minister's family. But the People's Alliance for Democracy's continued noisy campaign calling for the Thai public to boycott goods and services from the island republic in general, has gone too far.

The call lacks justification, is unfair, unreasonable and detrimental to the relatively sound bilateral relations, particularly on the economic front, between Thailand and Singapore which date back four decades.

The PAD's expression of disapproval of the Shin-Temasek deal and the keenness with which it wants Thaksin Shinawatra ousted from politics may make more sense if it were restricted to the parties directly involved, not the nations and their people.

Waving banners and placards reading, ''Cut relations with Singapore. Don't buy Singapore products'' and setting ablaze placards depicting Singapore's Prime Minister Lee Hsien Loong and Merlion, the republic's national symbol, at the Singapore Embassy will only s+++e fires of hatred and hostility among people of the two friendly countries.

The political activists should cease instilling the anti-Singapore sentiment among Thais to drive their political goal and hurting relations where both countries gain mutually.

There is a great danger that this anti-Singapore sentiment may escalate into an anti-foreigner frenzy that would only impair foreign investment which Thailand, with its open economy, needs.

Thailand and Singapore are dependent on each other in many ways including trade, business, investment and tourism.

The two-way trade volume between the kingdom and the city state have been increasingly steadily over the past few years, reaching 517,063 million baht last year, up from 449,376 million baht in 2004, according to Commerce Ministry figures.

The bilateral trade balance has been in Thailand's favour. Last year, the kingdom exported 300,542 million baht worth of goods to Singapore while imports from that country were worth 216,521 million baht.

Except Japan, Singapore was high on the list of major Asian investments in Thailand, which last year attracted 704 billion baht in direct foreign investment, up from 637.2 billion baht in 2004, or an increase of 10%. Japan retained its long-standing status as the largest contributor of foreign direct investment to Thailand last year, representing 46% of the total followed by the US, the EU and Asian countries. The new investment created 200,000 jobs across Thailand.

Thailand was seen as a top priority investment venue for Singapore, which was prepared to put its huge amount of capital here because of the clarity of investment rules, lack of capital controls, and generally speaking, political stability, compared to other countries in the region.

Aside from investment funds, Singapore's direct investment in Thailand came mostly in real estate and service sectors such as telecoms and consumer-related business.

In the tourism sector, Thailand and Singapore enjoy close tourism links. Singapore has been the fifth largest tourist market for Thailand in terms of arrival numbers, after Malaysia, Japan, South Korea and China. In 2004, about 700,000 Singaporeans visited Thailand, spending an average of US$112.15 a day in Thailand, higher than those from other Asean states, and staying longer than many others, with an average of 5.3 days.

In the first half of last year, Singaporean arrivals jumped 17% to 480,000 and the Tourism Authority of Thailand was optimistic about another record for the whole of 2005. However, there were fewer Thais going to Singapore - 279,186 in 2004 and 160,437 in the first half of 2005.

Unfortunately, what we are seeing now is a a trend toward reversion, with a halt in investment and business deals from Singapore, and many Singaporean tourists delaying their plans to take a holiday in Thailand due to this domestic political conflict which the island republic has been accidentally dragged into.

Boonsong Kositchotethana is Deputy Assignment Editor (Business), Bangkok Post.

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Report from Bangkok Post dated Wednesday 22 March 2006 :-

Noble to seek overseas partners for retail project : Mimicking success of Playground project

The listed developer Noble Development Plc aims to go into a joint venture with overseas partners to develop a retail project worth over two billion baht on Sukhumvit 36, said president and chief executive Kitti Thanakitamnuay.

The company is in talks with European and Japanese partners to set up a joint venture in the same concept as Playground, Noble's first retail business located in Soi Thong Lor.

''It [the new project] will be finalised within the second half of the year as we have to wait for the political situation to be more stable,'' he said, adding that the new project will be 15,000 square metres in size.

The new project will be located on a five-rai plot in Sukhumvit 36, where the company will also develop a condominium project of 500 units worth 2.3 billion baht by mid-2006.

The company yesterday launched two condominium projects in Soi Ruamrudee and Sarasin worth 640 million baht and 364 million baht respectively.

Unit prices will start at 3.9 million baht.

''The residential units in these areas [Langsuan and Ruamrudee] are mostly leasehold ones, while our projects are freehold,'' Thongchai Busrapan, Noble Development Plc's executive vice-president, explained.

''The price of our projects tend to increase, not depreciate,'' he added.

Noble Ambience Ruamrudee will consist of 108 units priced between 75,000 and 80,000 baht per square metre while Noble Ambience Sarasin's one-rai plot will consist of 79 units.

The company expects to close sales of these two projects by the end of the year.

The company plans to open a single-house project on a 20-rai plot in the Vacharapol area consisting of 71 units worth 376 million baht by the second half of the year.

In addition, it plans to invest one billion baht to acquire more land plots in Greater Bangkok this year.

Currently, it has housing stock worth seven billion baht, 300 of which are single houses and condominium units the rest.

Noble has recorded sales of 250 million baht a month since early this year.

Noble booked consolidated revenue of 2.52 billion baht with a net profit of 456 million baht last year.

The company aims to achieve an estimated 2.7 billion baht in sales by the end of the year.

Noble (NOBLE) shares closed yesterday on the Stock Exchange of Thailand at 4.70 baht, up six satang, in total trade of 10.25 million baht.

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Report from The Nation dated Wednesday 22 March 2006 :-

Things to improve from now: Chidchai

The turmoil in Thailand will subside because the Brahma statue at the Erawan Shrine has made a self-sacrifice and borne the bad luck troubling the country, said Pol General Chidchai Wannasathid, acting deputy prime minister.

"I have talked to an astrologer who told me that the incident could be seen as a self-sacrifice of Phra Phrom. The situation should now start to improve," he said.

"I have also had a telephone conversation with Bovornsak Uwanno, the secretary of the Cabinet about this self sacrifice of Thao Maha Phrom. This time we have a sacrifice of love in a great way, which should help dispel the bad luck."

Chidchai was speaking at the Erawan Shrine yesterday during Prime Minister Thaksin Shinawatra's inspection of the remnants of the four-faced statue, hammered to pieces by a man with a record of mental illness on Tuesday.

It was a shocking incident for the Bangkok public, who have worshipped the Brahma statue for the past 50 years.

Thaksin took time in the afternoon to visit the shrine, where he was met by Surakiart Sathirathai, the deputy prime minister, and the heads of the Fine Arts Department, Religion Department and Foundation of Thao Maha Phrom.

Thaksin said it would take about two months to restore the statue to its original shape. "The restoration will have to strictly follow the religious principles and all the rituals. Some parts of the original statue may also be placed at the shrine," he added.

Thaksin worshipped at the shrine before setting free nine birds as part of a merit-making ritual.

The desecration of Phra Phrom has triggered widespread rumours in the capital about the ill omens hovering over Thailand. Sondhi Limthongkul, one of the leaders of the People's Alliance for Democracy, said yesterday during the anti-Thaksin rally that something fishy was going on with the desecration of Phra Phrom. "Why was the man stomped to death after he smashed the statue? I have in-depth information about someone who is deeply obsessed with superstition. He wants to destroy Thao Maha Phrom so that he can rebuild it by himself and then bury "his stuff" in the statue. This is a way to avert ill omens," Sondhi said.

"Anybody who messes with superstition will also perish by superstition ... we have a leader, who is obsessed with superstition. That's why we have to suffer," Sondhi said.

There is a rumour that a high-ranking politician has linked his own luck with Phra Phrom at both Government House and Erawan Shrine, so that when people worship the Brahma statues, they also pray for his long life and power.

[KatoeyLover69]

Report from The Nation dated Wednesday 22 March 2006 :-

Condo market heats up in CBD

Huge investments to launch new condominium projects in Bangkok's central business district (CBD), near the Skytrain and subway, between now and 2009 will result in some stiff competition, says Jones Lang LaSalle Research. Most developers will avoid direct price discounts for their clients.

The research group also predicted that price levels of condominiums inside the competitive zone would change dramatically, despite the possibility of the resale market attracting some of the demand and diverting it from the first-hand market.

Meanwhile, completion of the BTS and MRTA lines has created a development opportunity for condominium projects away from central Bangkok. The eventual extension of their routes will widen potential areas for growth and result in a slowdown in both supply and demand in central Bangkok in the medium to long term.

The research shows that a total of 12,160 units are due for completion by 2009. Assuming no construction delays, this year alone will see 6,350 new units, representing the largest number completed in a single year since 1981. The remaining 5,810 units are scheduled for completion starting next year: 3,675 units in 18 projects in 2007, 1,740 units in two projects in 2008 and 397 units in one project in 2009.

Last year, sales of new condominium units reached 5,510 units, a slight decrease from the 5,740 units sold in 2004. The average asking price rose from Bt65,800 per square metre in January 2005 to Bt72,100 in January of this year

[KatoeyLover69]

Report from The Nation dated Wednesday 22 March 2006 :-

Asian visitors to shun Songkran

Asian tourists who normally visit the Kingdom in large numbers during the famous Songkran Festival in mid-April are this year expected to flock instead to neighbouring countries, to avoid the political turmoil.

Each year, more than 30,000 international tourists come to Thailand for Songkran, particularly from Singapore, Hong Kong, Taiwan, China, Japan and Malaysia. Apichart Sangkary, president of the Association of Thai Travel Agents (ATTA), said thousands of Asian tourists would this year head to other destinations during the Songkran period.

He said Chinese tourists would be the biggest group of cancellations, estimated at more than 15,000, or 50 per cent of arrivals in April. Thousands of Singaporean, Japanese and Malaysians are also expected to postpone their trips to Thailand next month.

However, Apichart said the association was unable to estimate the total number of cancellations since many tourists have adopted a wait-and-see attitude about the political situation.

"These people have been in wait-and-see mode, and some have postponed their travel plans," Apichart said. "The travel industry has been nervously monitoring advance bookings to measure the repercussions of the political turmoil. People are not sure about the future, so they feel they'd better hold on to their money."

The Tourism Authority of Thailand (TAT) has revealed that the ongoing political crisis has led to the cancellation of more than 60,000 tourist trips from China and Singapore. Caretaker Deputy Prime Minister Somkid Chatusripitak, expressing concern over the growing slump affecting the country's economy over the past few months, has urged the TAT to work harder and prevent a further downturn in tourist arrivals.


Suchat Sritama
The Nation

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Report from The Nation dated Wednesday 22 March 2006 :-

Central Plaza to renovate Phuket hotel

Central Plaza Hotel Plc will spend more Bt800 million to renovate a four-star hotel in Phuket recently taken over by a newly established joint venture.

President Gerd Steeb said the joint venture was equally held by a foreign investor and the company.

He declined to disclose the name of the partner.

Taking over the hotel is part of Central Plaza's business plan for this year.

"About Bt875 million will be spent on renovating the hotel," said Steeb.

He said the four-star hotel featured 350 rooms.

The group operates two hotels on the island: The Water Front Suite and the Central Karon Beach. The new property will become the third. The group also plans to open another hotel in Phuket.

Apart from Phuket, the group plans to open three more hotels: Central World Plaza Bangkok, Central Mirage Pattaya, and Central in Krabi province.

Moreover, the group is negotiating on the management of four hotels in neighbouring countries.

Addressing the current political turmoil, Steeb confirmed that the group had not yet been damaged.

"Hotel bookings are still okay because most of the guests are business people and they are not concerned about politics that much," he added.

Flagship hotel Sofitel Central Plaza Bangkok is running at a high rate of occupancy.

Thiradej Chirathivat, senior vice president, said the group would soon finalise a study of its new own food brand.

"The new brand will be different from any other in the country," he said.


Suchat Sritama
The Nation

[KatoeyLover69]

Report from Bangkok Post dated Thursday 23 March 2006 :-

PM quiet over demonstrators' ultimatum

Caretaker Prime Minister Thaksin Shinawatra has shown no reaction over his opponents' ultimatum that he resigns within 48 hours.

The caretaker premier refused to give any comment on Wednesday when asked by journalists over the deadline.

The anti-Thaksin demonstrators led by the People's Alliance for Democracy (PAD) gave an ultimatum Tuesday evening that Mr.Thaksin Shinawatra resigns within 48 hours, or faces a decisive action to be ousted of office.

Mr. Thaksin, however, called an urgent meeting with Thai Army Chief Gen. Sonthi Boonyaratkalin at his official residence, Ban Pitsanulok, here Wednesday afternoon.

Gen. Sonthi told TNA after the 20-minute meeting that the caretaker prime minister asked about the development of the situation in Bangkok.

"I reported to the caretaker prime minister that there is nothing serious at the moment as the PAD-led campaigners have rallied peacefully so far. This's admirable and should be recorded in the Guinnes Book as the world's most peaceful demonstrations", he said in a special interview with TNA.

"Intelligence reports have shown nothing serious, either, but indicated that a large number more people are expected to join the opponents' new mass rally planned at the Makhawan Bridge on March 25," he noted.

The PAD has invited members of the public to take part in its mass rally on March 25, from 02:00 p.m. onward, to show a strong people's power to force embattled Mr. Thaksin to resign.

Gen. Sonthi said, nonetheless, that Mr. Thaksin did not raise the PAD's planned mass rally for discussions, but talked about many rumours which could damage and cause further rifts in the society.

"The prime minister did not ask the military to intervene in the rallies, either," he added.

Gen. Sonthi said as the Commander-in-Chief of the Royal Thai Army he, himself, reported to the prime minister that the military is prepared to assist police forces in keeping peace and order when necessary.

Asked if it is possible that the caretaker government will declare a state of emergency, the army chief said the caretaker premier did not raise the issue.

"I personally view that it's unnecessary to declare the state of emergency at the moment," he added.

The army chief said he reported to the caretaker prime minister that the military would step in only after a state of emergency was declared,

[KatoeyLover69]

Report from Bangkok Post dated Thursday 23 March 2006 :-

Use of force not warranted, army chief tells Thaksin

Caretaker Prime Minister Thaksin Shinawatra yesterday met army chief Gen Sonthi Boonyaratglin who told him the current situation does not yet warrant the use of military force. Speaking after his meeting with the prime minister at Baan Phitsanulok yesterday, Gen Sonthi revealed that Mr Thaksin asked him about the current situation without asking for his help or mentioning a plan to declare a state of emergency, but he as army chief was obliged to tell the prime minister that use of military force is not yet necessary.

''I told him [Mr Thaksin] that it would not be good for soldiers to come out too soon and do things that would be damaging to the government,'' the army chief said.

Gen Sonthi said soldiers would come out only after a state of emergency was declared, and he personally believed the situation right now did not warrant such an action.

According to the general, Mr Thaksin did not mention the People's Alliance for Democracy's big rally scheduled for Saturday, but talked about a spate of rumours which had caused damage and conflicts in society.

''I don't worry about the change of the rally venue to Makkhawan Rangsan bridge because the demonstrators are still gathering in peace and respect the rules. It is the most orderly rally in the world and can be recorded in the Guinness Book of Records,'' Gen Sonthi said.

He called on the rally-goers, especially speakers, to avoid using harsh or rude words which could worsen the situation and set a bad example for children who were taking part.

Meanwhile, an army source revealed that after the army chief's separate meetings with First Army commander Lt-Gen Anupong Paochinda and the prime minister, rumours ensued that the prime minister did not trust Lt-Gen Anupong who vowed to be a soldier of the King and the people, not the government.

Mr Thaksin, the source said, wanted Lt-Gen Anupong transferred. However, Gen Sonthi opposed this.

Mr Thaksin was believed to have asked Gen Sonthi about a mid-year military reshuffle and suggested the swap of the top posts of the First Army and the First Army Corps between Lt-Gen Anupong and Lt-Gen Jirasith Kesakomol, who is also Mr Thaksin's former classmate.

Mr Thaksin had complained during a rally in Ratchaburi province last Saturday that he had had no time for friends, so some of them had abandoned him.

[U-Need]

BANGKOK, March 23 (TNA) – Prime Minister Thaksin Shinawatra returned to work at Government House amid tight security on Thursday for the first time in almost two weeks.

In an apparent attempt to avoid protesters, Mr. Thaksin's motorcade took a different route to his office.

Government House had been ringed by anti-government demonstrators for more than a week. But recently the protest was moved to an area in front of the Education Ministry to allow visitors to attend the annual Red Cross fair, set to begin on March 29.

The prime minister was reportedly rushed through to his room at Thai Koo Fah Building where security has been stepped up around the clock and there is no unauthorised access.

He stayed there for 90 minutes before travelling to the headquarters of his Thai Rak Thai Party on Bangkok’s Petchburi Road.

Mr.Thaksin said earlier that he would resume duty at Government House as soon as he finished campaigning in the provinces on behalf of local Thai Rak Thai Party candidates.

Thailand is going to the polls in snap general elections on April 2, despite an opposition boycott.

The prime minister has chaired the last two weekly Cabinet meetings via teleconference while on the campaign trail.

Critics accused him of being too intimidated by the protesters in Bangkok to return to work.

Anti-Thaksin demonstrators, led by the People’s Alliance for Democracy (PAD), had ringed the official seat of government since March 14, vowing to stay put until the prime minister agreed to step down.

PAD leaders also gave Mr. Thaksin a final 48-hour ultimatum to resign. But the prime minister quickly dismissed the move, saying there was nothing to worry about.

The latest in a series of mass anti-government rallies is scheduled for Makkawan Bridge, near Government House, on Saturday.

The PAD is calling for a big turnout, saying it could prove to be the largest anti-Thaksin rally in the capital since the street protest campaign began almost two months ago.

Prime Minister Thaksin is scheduled to go to the northern provinces of Udon Thani and Nongkhai on Friday for an official visit. (TNA)-E001

[U-Need]

BANGKOK, March 23 (TNA) - Anti-Thaksin campaigners led by the People's Alliance for Democracy (PAD) will propose a package of measures against caretaker Prime Minister Thaksin Shinawatra if the latter fails to respond to their ultimatum.

The PAD-led demonstrators demanded Tuesday evening that Mr. Thaksin resign within 48 hours, or face a decisive action to be ousted of office.

PAD coordinator Suriyasai Katasila said on Wednesday that the coalition's core members had already prepared the package of measures.

They include alternatives the coalition would ask their members to vote at its planned mass rally on March 25 at the Makhawan Bridge before an agreed action to pressure for Mr. Thaksin's resignation would be taken.

Mr. Suriyasai denied to give further details of the package, saying the coalition would announce it Thursday night after the deadline.

The People's Network for Elections (P-Net), Thailand's wellknown election watchdog, is still trying to broker the three conflicting parties-- the caretaker government, the former opposition bloc and the PAD--for direct talks to end the current political turmoil.

P-Net coordinator Somchai Srisuthiyakorn proposed at a live TV talk show, Thueng Luk Thueng Kon, broadcast on Modernine TV Wednesday night that representatives of the three parties meet Thursday afternoon at Ban Manangkasila here to try to discuss some
differences considered "more easily to be resolved first" before moving forward to others.

Despite expressing their appreciation to the P-Net's attempt, both Mr. Suriyasai and Government Spokesman Surapong Suebwonglee, however, said that the proposal seemed not to be in the right time as all the parties had already moved forward with their own positions surpassing the negotiation point.

Dr. Surapong said, nonetheless, that the P-Net's proposal may be reconsidered when the three concerned parties are ready to return to the negotiation table to break the political impasse. (TNA)--E002

[U-Need]

BANGKOK, March 23 (TNA) – Caretaker Finance Minister Thanong Bidaya on Wednesday revealed the World Bank remained confident of the Thai economic fundamental and believed a current political turbulence would persist in the short run.



Speaking after a meeting with the World Bank’s officials, he said he told them that the government decided to postpone the schedule for an application of terms of reference (TOR) in joint investment in mega-infrastructure projects to May 28 because it is expected the new government could be formed in that period.



Should there be any problem, the government would consider possible rescheduling again.



Also discussed at the meeting are issues to be raised at the World Bank’s conference to be held in Singapore in September.



Dr. Thanong said he enquired how Thailand could participate in giving assistance to the countries in Africa.



He said Thailand prepared to propose a way to prevent a spread of the acquired immune deficiency syndrome (AIDS) in the region because it had a lot of experience in the matter.



Also, it would suggest how to lend to small businesses since it had expertise in this field.



On an ongoing political tension, the minister said the World Bank was still confident of the Thai fundamental and was optimistic that the turmoil would not drag on.



Dr. Thanong also shrugged off a recent forecast by the University of Thai Chamber of Commerce of the economic growth of only 3.2 per cent this year, saying it is an individual institution to estimate the economic expansion based on its own information. (TNA) – E005

[KatoeyLover69]

Report from Bangkok Post dated Friday 24 March 2006 :-

Partner denies being nominee of Temasek

Singapore - A Thai businessman who bought a stake in Shin Corp last week has denied being a proxy for the Singapore state investor Temasek Holdings after coming under fire from Thai political activists.

The Malaysia-based businessman Surin Upatkoon told Singapore's Straits Times newspaper he was ''no nominee'' of Temasek, which is battling growing hostility in Bangkok over its takeover of Shin Corp, previously controlled by the family of caretaker prime minister Thaksin Shinawatra.

Mr Thaksin's family paid no taxes on profits generated from selling Shin Corp, fuelling an already determined opposition campaign for Thaksin to step down.

''This is a purely commercial deal. I see this as a strong long-term investment and a rare opportunity to be partners with Temasek and Siam Commercial Bank,'' said Mr Surin, 56.

The Shin board on Wednesday named Mr Surin as a new director, replacing Niwattumrong Boonsongpaisan, who resigned on March 16.

The controversy surrounding the Temasek takeover has raised anti-Singapore sentiment in Bangkok, where protesters have rallied to press demands that Temasek rescind the acquisition.

Mr Surin, who runs Malaysia-listed Multi-Purpose Holdings Bhd and is little-known in Thailand, emerged last week as the majority shareholder in a private Thai-incorporated company that played a key role in Temasek's takeover of Shin Corp.

Known in Malaysia by his Chinese name, Lau Khin Koon, Mr Surin bought a controlling 68% interest in privately-held Kularb Kaew for around $70 million.

Kularb Kaew, in turn, owns 45.2% of Shin Corp which, together with another 5.8% held by SCB, gives Thai nationals a 51% majority in Shin through a complex corporate structure.

Mr Surin said that he was approached by Temasek's investment banker, Goldman Sachs, early this month to consider participating in the Shin deal. He said he met with Shin's senior management as well as with S. Iswaran, Temasek's point-man in the Thai deal.

Shin also notified the SET yesterday that its annual general shareholders' meeting would be changed to April 27 from April 25. The share register to attend the meeting and receive dividends was also delayed by two days to April 7. REUTERS

[U-Need]

BANGKOK , March 24 (TNA) – Thailand's national telecommunications regulator is moving to prevent foreign control of local telecom operators.

The National Telecommunications Commission (NTC) said a draft regulation detailing prohibitions on foreign control had been approved on Thursday.

NTC chairman General Chuchart Promprasith said the new regulations, once finalised, would be applied to NTC licensees.

They would cover a number of areas, including shareholding composition; business transaction authority; voting rights in major decisions; and benefits company executives receive from foreigners or overseas parent companies.

Final details are expected to be published in the Royal Gazette soon.

The legal move is aimed at preventing foreigners from using nominees to dominate local Thai telecom operators.(TNA)-E001