Thailand's military leader Sondhi Boonyarataklin said he wants to take back about 140 billion baht ($3.9 billion) of assets from Singapore.
``Singapore is a very small country, but it is so rich that it can buy 140 billion baht of our national assets,'' Army chief Sondhi said in a speech at a seminar in Bangkok today. ``I am thinking about whether we can take those assets back. I want our national assets back, especially the satellites.''
Sondhi led the armed forces to seize power from former Prime Minister Thaksin Shinawatra, citing his government's cronyism and corruption. Thaksin's family last year sold its entire 49.6 percent stake of Shin Corp. for tax-free $1.9 billion to investors led by Singapore's state-owned Temasek Holdings Pte.
Shin, founded by Thaksin, controls Advanced Info Service Pcl, Thailand's biggest mobile phone company, Shin Satellite Pcl, the country's largest satellite operator, and ITV Pcl, a television network operator.
The Temasek-led group increased its stake in Shin to more than 96 percent through a tender offer. The deal exacerbated protests and a political stalemate in Thailand that culminated in the Sept. 19 coup.
Sondhi's speech, at the Royal Army Convention in Bangkok, was broadcast by army radio.
Sansern Kaewkamnerd, the spokesman for National Security Council, which consists of Sondhi and other junta leaders, confirmed Sondhi's comment.
``It has been his wish to bring back any assets that are key to the national security,'' said Sansern. ``Satellite is a very important asset.''
ITV has been given a 30-day deadline to pay about 100 billion baht in back fees and fines or risk having its broadcast license revoked, the government said on Jan. 30. ITV Chairman Niwattumrong Boonsongpaisan has said the television won't be able to pay such large amount of money.
source:www.bloomberg.com
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