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Wed, November 16, 2005

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COURT FREEZES IPO: PM dealt Egat blow

Share sale delayed, overseas road-show called off, privatisation program in doubt while court assesses decrees. The Supreme Admin-istrative Court yesterday put the brakes on the public sale of shares in Egat Plc, dealing a severe blow to the Thaksin government’s privatisation programme.

ANALYSIS: Will things get worse for Thaksin?

Despite winning three-quarters of the seats in Parliament, the Thai Rak Thai government appears weaker than ever in its history. Its declining popularity is evidenced by (1) fierce resistance to a core programme of its long-awaited educational reform; (2) civic groups’ victory in convincing the Supreme Administrative Court to suspend the listing of Egat Plc; (3) the government’s retreat from meddling with the planned Skytrain extension.

10 best wishes on Loy Krathong

Loy Krathong falls on the day of the twelfth full moon of the year in the traditional Thai lunar calendar, and in 2005 today is that auspicious day. On rivers, streams and canals, Thais of all ages will float lotus-shaped vessels (krathong) bearing candles in homage to the Goddess of the River. On riverbanks, worshippers seek blessings for the next year and ask that bad luck and ill omens from the past year be carried away. Following are 10 wishes the celebrants may also consider asking for while floating their krathongs.