SCB still undecided on deposit transfer

By The Nation

Siam Commercial Bank's board of directors on Thursday resolved to wait for the Administrative Court's ruling, before making a decision if it would transfer the Bt12 billion amounts from deposed Thaksin Shinawatra's children to the Revenue Department.

In a statement issued after the board's meeting, the board also authorised executive chairman and president to proceed with the ruling and report to the board.

The court is considering if the Revenue Department's order for the bank to unlock the accounts is justified.

The Assets Examination Committee has ordered a freeze of Bt76 billion belonging to the Shinawatra family, pending charges against Thaksin for unusual wealth and abuse of power.

In a letter dated August 22, 2008, signed by Asadang Srisupraphand, deputy directorgeneral of the Revenue Department, the department said it would like the bank to transfer Bt12 billion to the department as tax payments from Panthongtae and Pinthongta Shinawatra. It said without the transfer, Panthongtae and Pinthongta would need to face higher penalties.

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SCB still undecided on deposit transfer

Siam Commercial Bank's board of directors on Thursday resolved to wait for the Administrative Court's ruling, before making a decision if it would transfer the Bt12 billion amounts from deposed Thaksin Shinawatra's children to the Revenue Department.

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