We can do nothing about the deal : Singapore Embassy
Singapore Embassy in Bangkok told anti-government activists that Singapore government could do nothing on Shin Corp's sell off to Tamasek Holding.
"A Singaporean diplomat informed us that it is true that Tamasek Holding belong to Singapore government but Shin Corp is a private Thai company. Therefore, the embassy cannot intervene into the deal in question," Rossana Toesitrakul, an activist said.
Rossana and two other activisits represented the anti-Thaksin protesters in meeting with a Singaporean diplomat inside the embassy. The protesters demanded that Temasek cancelled the deal with Shin Corps or face boycott from Thai people.
"We ask Singapore Embassy to reconsider the matter," Rossana said.
The protesters waiting in front of the embassy greeted Singapore Embassy's response with boos and jeers.
The embassy later issued a statement in response to the letter of the protesters.
"The Shin Corp-Temasek is a private sector deal done purely on a commercial basis. It is not a Government to Government deal. The Singapore government does not interfere in the business and operations of Temasek Holdings. Temasek Holdings' Board and management make their own investment decision. The Singapore government is not involved. Singapore companies doing businesses in Thailand are required to observe the laws of Thailand," read the statement.
The protesters then moved their protest to Stock Exchange of Thailand. Several dozen protesters also demonstrated Wednesday outside Shin Corp.'s Bangkok headquarters and carrying signs, "Thailand is not for sale,'' read a banner.
The protesters have produced a manual of Singapore and Shin products to be boycotted if Singapore did not meet their demands.
A far larger turnout was expected for the demonstration Thursday, the last day of a tender offer linked to the sale.
by Nantida Puangthong
The Nation
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