The Straits Times, February 24, 2007
KUALA LUMPUR - Thailand's military-backed government would not intervene in a dispute over the sale of a satellite concession to a Singapore investment group, and would leave the matter to the private sector, a news report said on Saturday.
Relatives of Thailand's former Prime Minister Thaksin Shinawatra sold their controlling stakes in Shin Corp. - Thailand's largest telecommunications company, which includes Shin Satellite - to Singapore's Temasek Holdings in January last year.
The sale prompted criticism about handing strategic telecommunications assets to another country, and fueled calls for Mr Thaksin's ouster that had been ongoing for months, culminating in a military coup in September.
Army commander General Sonthi Boonyaratglin, who led the coup, announced last week that he intended to take back Shin Corp. or at least the satellites.
Gen Sonthi has accused Singapore of using the satellites to spy on Thailand's military communications.
Prime Minister Surayud Chulanont, however, told Malaysia's national news agency Bernama, that the government would not get involved.
He said the private sector should decide if it was a wise investment to buy back Shin Corp., Thailand's sole private satellite operator.
'If they want to buy, let them buy in the exchange market. We are not going to get involved,' Gen Surayud was quoted as saying in an interview with Bernama in Bangkok on Friday.
'If they want to take a risk, that's fine. They have to make their own estimations of the risk assessment whether it will be beneficial for them or not,' he added.
Prior to Gen Surayud's comments, the government appeared unsure as how to resolve the dispute over the satellites.
Initially, officials said the government was thinking of buying back Shin Satellite but did not want to take any action that would rattle foreign investors.
Mr Sittichai Pokaiudomhas, the communications minister, subsequently said the government would conduct an opinion poll to see if there was enough public support to buy back the company.
Gen Surayud told Bernama that he had not yet been approached by any Thai companies that want to buy the satellite concession.
Shin Satellite owns five satellites, including iPStar, the world's largest commercial satellite. -- AP
KUALA LUMPUR - Thailand's military-backed government would not intervene in a dispute over the sale of a satellite concession to a Singapore investment group, and would leave the matter to the private sector, a news report said on Saturday.Relatives of Thailand's former Prime Minister Thaksin Shinawatra sold their controlling stakes in Shin Corp. - Thailand's largest telecommunications company, which includes Shin Satellite - to Singapore's Temasek Holdings in January last year.
The sale prompted criticism about handing strategic telecommunications assets to another country, and fueled calls for Mr Thaksin's ouster that had been ongoing for months, culminating in a military coup in September.
Army commander General Sonthi Boonyaratglin, who led the coup, announced last week that he intended to take back Shin Corp. or at least the satellites.
Gen Sonthi has accused Singapore of using the satellites to spy on Thailand's military communications.
Prime Minister Surayud Chulanont, however, told Malaysia's national news agency Bernama, that the government would not get involved.
He said the private sector should decide if it was a wise investment to buy back Shin Corp., Thailand's sole private satellite operator.
'If they want to buy, let them buy in the exchange market. We are not going to get involved,' Gen Surayud was quoted as saying in an interview with Bernama in Bangkok on Friday.
'If they want to take a risk, that's fine. They have to make their own estimations of the risk assessment whether it will be beneficial for them or not,' he added.
Prior to Gen Surayud's comments, the government appeared unsure as how to resolve the dispute over the satellites.
Initially, officials said the government was thinking of buying back Shin Satellite but did not want to take any action that would rattle foreign investors.
Mr Sittichai Pokaiudomhas, the communications minister, subsequently said the government would conduct an opinion poll to see if there was enough public support to buy back the company.
Gen Surayud told Bernama that he had not yet been approached by any Thai companies that want to buy the satellite concession.
Shin Satellite owns five satellites, including iPStar, the world's largest commercial satellite. -- AP
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