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He would also demand Bt100 million in damages from the Manager Group for attacking his leadership in the weekend edition of the Manager newspaper, founded by anti-Thaksin campaigner Sondhi Limthongkul.

Before the about-turn, Sondhi was seen as a staunch ally of Saprang.

"I am not involved in corruption and there is no need to chair the boards of state enterprises in order to cheat," Saprang said.

He said he suspected a hidden agenda to fabricate the story to smear him, though he refused to explain about the ally-turned-foe.

"People who concocted the story are evil and I will say no more although the local press could investigate and get to the bottom of the matter," he said.

The weekend's report claimed that Saprang was involved in a shady deal to award the concession for the limousine service at Suvarnabhumi Airport.

It alleged his poor leadership had resulted in a 90 per cent drop in last year's profit for airport services.

It also voiced suspicion at Saprang's involvement in rewarding the contract for the third-generation of mobile phone service.