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Thai Junta Leader Vows To Take Back Satellites From Singapore
Bangkok (AFP) Feb 16, 2007 Thailand's junta leader vowed Friday to take back control of Thai satellites operated by telecom giant Shin Corp, which was sold to a Singapore firm in a politically explosive deal last year. Shin Corp's subsidiary Shin Satellite operates four telecom satellites, which are owned by the Thai government but are run by the company now controlled by Singapore's state-linked investment firm Temasek Holdings. The junta leader, General Sonthi Boonyaratglin, said that the satellites were "treasures" and said he would retrieve them. "Singapore is a small country that lacks any farming area, but they are rich capitalists and brokers who can buy our assets," he said. "I am concerned about our national assets that were bought. I want my assets back, especially the satellites. That's one of our treasures that I really want," he told a gathering of military and government officials. "That's what we have to think about, how we can retrieve our assets," he said. Sonthi has previously voiced fears that Singapore would use the satellites to spy on Thailand, and has ordered military officials to give up their cell phones in favor of walkie-talkies to prevent any espionage. Singapore has denied using the satellites to spy on its neighbour. Shin Corp was founded by deposed prime minister Thaksin Shinawatra, who was ousted by Sonthi in a bloodless coup in September. Thaksin's family sold its shares in Shin Corp to Temasek in a 1.9 billion dollar, tax-free deal one year ago, sparking street protests that precipitated the coup. Since the deal, relations between Singapore and Thailand have been badly strained -- especially since Thaksin visited the city-state last month and met with a top government official, angering the coup leaders here. In his speech to the Army Club, Sonthi said Thaksin's style of gung-ho capitalism had eroded patriotism among Thais by making them too competitive with each other. "What our armed forces are doing is implanting an idealogy of patriotism among Thai people across the country," he said. Thaksin's visit to Singapore sparked a war of words with the city-state, and prompted Thailand to cancel a civil service exchange program in protest. Singapore Foreign Minister George Yeo told parliament on Monday that his government had no reason to deny Thaksin's entry to the country, prompting another tirade from the Thai side. The dispute even spilled onto the football field on January 31, when Thailand's team stormed off the pitch in protest at a disputed penalty in a match against Singapore during the Asean finals.
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SES To Buy Back GE Stake In Exchange For Assets And Cash
Luxembourg (SPX) Feb 15, 2007SES has announced that it has agreed with GE a EUR 1.2bn split-off transaction in which SES will contribute certain assets and cash to a new company and exchange shares of that new company for GE's entire holding of 103,149,900 shares in SES, subject to satisfaction of certain closing conditions. As disclosed in March 2006, SES has been discussing with GE a number of options to achieve a structured exit from its remaining shareholding. |
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