Published on May 13, 2005

CAT Telecom Co has delayed its plan to trade on the stock exchange until the fourth quarter after its president Witit Sujjapong was removed yesterday.

CAT chairman Lt-General Anusorn Teptada said yesterday the schedule would have to be delayed from the third quarter, because of the need to find a new president.

The board decided to remove Witit after the Council of State last Friday ruled he was unfit for the top job. The court said the Finance Ministry’s requirement – that presidential candidates must not have held an interest in the telecommunications industry and dealt with CAT for at least three years – was the key factor in its judgement.

Witit was managing director of the Internet-related business Surf Excel, which dealt directly with CAT, in December 2003, even as CAT began the process of looking for a new president. The selection process was from December 11-19, 2003.

Witit yesterday asked CAT’s board to push for the Council of State to reconsider the case, but the board dismissed the suggestion, saying the decision had already been made.

Witit then said he would take a holiday before seeking a new job.

Anusorn said Information and Communications Technology Ministry permanent secretary Kraisorn Pornsutee had promised to appoint a new selection panel and have a new president within 60 days.

When asked if the selection panel that chose Witit would have to take responsibility for its error, Anusorn would not lay blame.

CAT’s board yesterday appointed senior executive vice president Phisal Jorphochaudom as acting president.

However, CAT might not be able to trade on the bourse as soon as it wants – a source at CAT said the Finance Ministry had recently called in some of its top executives to revise the listing plan.

Meanwhile, Anusorn said the Central Administrative Court’s ruling suspending the TOT Corp’s regulatory power over its concessionaire TT&T Plc would not impact on CAT. Telecom operators hailed the ruling as a victory over state concession holders, saying it confirmed that neither TOT, nor CAT, has regulatory power over them now.

Usanee Mongkolporn

The Nation

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