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Thu, January 26, 2006

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SHIN TAKEOVER: Tax spotlight on brother-in-law

Minute scrutiny of huge deal begins to focus on ‘weakest link among those who avoided tax’. The focus of the scrutiny of the Shin Corp takeover deal has now shifted to Bhanapot Damapong, who is not paying any tax on the big sell-off, nor has he ever paid any related tax, all the way from his obtaining the Shin stocks from his sister Khunying Pojaman Shinawatra in 2000 to his sale of 404.43 million shares to Temasek of Singapore on Monday for Bt19.92 billion.

Thaksin: Critics envy my money

Prime Minister Thaksin Shinawatra yesterday slammed critics of the Bt73.3-billion Shin Corp share sale, saying they were motivated by envy of his wealth. “I say this to my critics: Try to use your right brain instead of your left lobe,” he said, criticising them for attacking him over bits and pieces rather than seeing the whole picture of the Shin Corp transaction. Thaksin said the critics were one step behind his legal and tax advisers, who had already replied to every question raised.

Faith in PM plunges: poll

More than half of the people surveyed for a poll in and around the capital believe the Shinawatra family’s sale of Shin Corp shares was not handled transparently, while more than four in five respondents said the sale would not improve Prime Minister Thaksin Shinawatra’s image with relation to conflict-of-interest suspicions. The Research Institute of Bangkok University polled 1,368 respondents across Bangkok and adjacent provinces on Tuesday regarding their feelings about the sale of Shin Corp shares.