State to seek funds lost in dodgy contracts with AIS, ShinSat
A legal team from the Information and Communications Technology Ministry has been assigned to examine Shin Corp's mobile phone and satellite concessions after they were raised by judges in the assets seizure case last Friday.
ICT Minister Ranongrak Suwanchawee said yesterday the Supreme Court's verdict against former prime minister Thaksin Shinawatra would be part of the basis for a review of amendments to concessions that benefited Thaksin's telecom empire at the expense of the state.
The directors and executives of state telecom enterprises, which awarded the concessions, would also be probed to see whose was involved in allowing controversial changes to state concessions.
The results will be submitted for Cabinet consideration this month.
TOT chairman Teravuti Boonyasopon said that while some amendments had inflicted financial pain, others had boosted TOT's revenue.
Prime Minister Abhisit Vejjajiva said on Saturday the Attorney-General's Office would work with government units to follow up on the legal consequences of the court's findings.
The landmark verdict found the former premier guilty of hiding his wealth and abusing his power while holding public office from 2001-06.
The justices also ruled by a majority that Thaksin had overstepped his authority on several counts to benefit his then family-owned Shin Corp and its affiliates, resulting in massive damage to the state.
Abhisit said the top executives of state enterprises put at a disadvantage by Thaksin's abuse of power would be guilty of negligence if they did not take legal recourse to protect their unit's interests.
Former Cabinet ministers and members of state enterprise boards, which approved the abuse of power, such as unfavourable concession changes, could be held legally responsible for the damage. Both criminal and civil lawsuits could be filed against those responsible to seek damages.
TOT and CAT Telecom, the Transport Ministry and the Export-Import Bank of Thailand are among government units that were victims of Thaksin's abuse of power.
The court verdict said TOT had lost Bt70 billion in revenue when Advanced Info Service, the mobile phone unit in Shin Corp, was allowed to reduce TOT's share of AIS' prepaid phone revenue from 25 per cent to 20 per cent.
TOT and CAT were also deprived of concession fees totalling Bt60 billion when a telecom excise tax was introduced to replace the fees.
The Transport Ministry's contract with Shin Satellite, now known as Thaicom, was amended several times to the firm's benefit. These changes cost the state Bt20 billion.
Meanwhile, the Finance Ministry had to provide Bt670 million over 12 years to Exim Bank to cover losses resulting from a Bt4-billion, low-interest credit line granted to Burma, in part to purchase equipment and services from Shin Satellite.
Altogether, state losses were estimated to top Bt150 billion.
TOT oversees AIS' concession, while the ICT Ministry supervises Thaicom's concession.
