The Straits Times, February 19, 2007
BANGKOK - Thailand's military-appointed government has vowed to reclaim satellites and possibly other assets sold by ousted prime minister Thaksin Shinawatra's family, but said it was unsure how to do it. 'Getting them back, that is definitely what we want to do. But the question is how?,' Communications Minister Sitthichai Pookaiyaudom told a Bangkok radio station.
He said a government committee would study options to buy back Shin Corp assets sold to Singapore's Temasek in 2006. The sale fuelled street protests that led to Mr Thaksin's removal in a bloodless coup.
Bangkok has zeroed in on five satellites controlled by Shin Corp subsidiary Shin Satellite which coup leader Sonthi Boonyaratglin said he wants back as a matter of national security.
General Sonthi has accused Singapore of using Shin assets, including Thailand's biggest mobile phone operator AIS, to monitor military phone calls. AIS and Shin Satellite have denied eavesdropping.
Mr Sitthichai said Shin Satellite's market capitalisation of 10 billion baht (S$460 million) was cheaper than a bid for the group.
'If we buy Shin Corp we will get AIS, but Shin Corp's market price is very high,' he said, estimating its market value at 100 billion baht.
Mr Sitthichai said the government would move quickly but carefully to ensure 'foreign investors and foreigners do not feel that we are against them'. -- REUTERS
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