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  1. #1
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    Bettyboo's Avatar
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    King Power, Newin and ELP...


  2. #2
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    Oh look, Daddy bought his spoilt brat a football club.

    When I were a lad it were a Subbuteo set.

  3. #3
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    ^ yes, makes me rather sick.. Seems as these high powered chaps are politicians, like Newin, the other one is supposed to be the richest guy in the government (then or now, I'm not sure), then do you think 'their' money came from hard work, decency and service to the community???
    How do I post these pictures???

  4. #4
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    I thought his money came from paying bribes to keep exclusive rights to Duty Free?

  5. #5
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    ^ Yes, I think you're right, Harry, but there's more to it... A few snippets:

    Vichai Raksriaksorn (owner of Kind Power) and Charoen Sirivadhanabhakdi (owner of Chang) sponsor Buri Rum-Provincial Electricity Authority FC (owned by Newin). They are all big sponsors of royal events, indeed Raksriaksorn allegedly came up with the famous orange armbands 'I love the King'.

    Updated: Football and politics | Political Prisoners in Thailand

    Wiki bio says:

    Raksriaksorn is ranked by Forbes Magazine as the 35th richest man in Thailand.[1] He is the founder and CEO of King Power Duty Free, an operator of duty-free shops.[2] In December 2009, King Power received the royal warrant from the King of Thailand in a ceremony attended by Raksriaksorn.[3]
    In his spare time he is an avid polo player and owns the VR Polo Club in Bangkok. Vichai is also the President of Ham Polo Club in London.
    He is married and has four children.

    http://en.wikipedia.org/wiki/Vichai_Raksriaksorn

    A little snippet about these royal warrants; quite interesting, I think:

    "Warrants are granted in the name of the king. Over dozens of Thai company are holders of such a warrant.[2]
    Warrants are awarded at the discretion of the Lord Chamberlain of the Bureau of the Royal Palace. The company must have shown "[...] transparency, virtue and trustworthiness, and one that has shown loyalty to the royal household and His Majesty King Bhumibol Adulyadej.""

    The group of companies that hold these warrants is interesting too:

    "The exact number of royal warrant holders is not made public and some companies chose not to divulge that information. Holders tend to be Thai companies, such as Bangkok Airways, Bangkok Bank, Bangkok Hospital, Bangkok Insurance, Berli Jucker, Boon Rawd Brewery, Central Department Store, Charoen Pokphand, Chue Chin Hua, Deves Insurance, International Engineering Public Company Limited, King Power, Muang Thai Life Assurance, Osotspa, Shin Corporation, Siam Commercial Bank, and TMB Bank."

    I've seen many of these linked with donations to the PAD, just sayin, like... You may also notice one that certainly does not... (Unless it is all a conspiracy...) In fact, massive quantities of wealth and assets their, a fair few monopolies... our friend's true are there - makes interesting reading researching these companies a little...

    http://en.wikipedia.org/wiki/Royal_W...%28Thailand%29

    Seems to be that the wealth of this family is quite unclear, but built on the back of the airport where, amongst other issues:

    "
    OVER FOUR YEARS AGO when the new airport opened, there was a storm of allegations over corruption. There was the small matter of a Bt1.71 billion gap between the purchase price and the selling price for the CTX baggage scanners. But there were others too: a Bt1 billion contract for ground services awarded to a Singapore-registered company whose owner was traced to a derelict house in the Bangkok suburbs; Bt4 billion for wiring and ducting to a company with no track record; half a billion for luggage trolleys of unbelievably clunky quality; Bt5 billion for operating security guards; Bt3 billion for limousine services; an allegation that Thaksin's sister demanded a bribe of Bt300 million for the car park concession; an advertising concession to Thaksin's son; and an Bt8 billion contract for building drains allocated to the family of another minister."

    http://www.nationmultimedia.com/2009/03/30/opinion/opinion_30099135.php
    Last edited by Bettyboo; 11-10-2011 at 08:30 PM.

  6. #6
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    Marmite the Dog's Avatar
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    Not one 'top' Thai businessman has morales and they're all corrupt or they'd never manage that level of success here. Funny how they're rarely successful in the real world.

  7. #7
    Suspended from News & Speakers Corner LooseBowels's Avatar
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    They mustaf all passed the fit and proper persons test

  8. #8
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    Quote Originally Posted by LooseBowels View Post
    They mustaf all passed the fit and proper persons test
    They invest millions to leave Thailand and spend time in the shit hole that is Leicester?

    That doesn't sound like a fit and proper person to me.

  9. #9
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    ^ these people are right behind limiting other people's participation (foreign and Thai); stopping foreigners from owning companies, stopping Asean companies from bringing their goods here, stopping foreigners from buying land here - yet, they love to buy property and businesses abroad as well as enjoying the free trade agreements and a globalized world. All one way traffic for these repulsive individuals. & all from ill gotten gains... They are utter scum, at the heart of the problems within Thai society; just low-so mafia off to play polo, just like the Russian gangsters and murderers that buy up football teams and then big boats to mix with the Monaco jet-set crowd.

  10. #10
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    Well there was a sniff at kicking them out in 2007, but I'm guessing a few well placed tins of Peek Freans took the heat off them.

    King Power gears up to fight for contracts

    Duty-free chain meets with associates as it seeks to find 'a just solution'


    Thailand's largest duty-free retailer King Power International is set to meet with its trading partners and foreign agents over what it calls "the unfair" annulment of its two contracts with Airports of Thailand Plc (AOT).


    The meeting with 200 duty-free shop representatives and 100 brand name agents is King Power's attempt to find an immediate and practical solution to the annulment announced last Thursday.


    King Power's deputy managing director, Chulchit Boonyakate said the contracts were deemed legal according to a decision by the previous board chaired by Srisook Chandrangsu and they did not need to come under the Public-Private Joint Venture Act.


    Meanwhile, Admiral Bannawit Kengrean, who chairs the National Legislative Assembly's subcommittee investigating corruption problems at Suvarnabhumi Airport, will today petition the Assets Examination Committee to investigate the AOT's controversial deals with King Power, a source said yesterday.


    Former prime minister Thaksin Shinawatra, former transport minister Suriya Jungrungreangkit and AOT's former board chairman Srisook are expected to be named as being involved in the deals, according to the source.


    The AOT's board on Thursday nullified the two contracts that awarded King Power the right to run the duty free shop and manage the commercial area at Suvarnabhumi Airport. It said King Power deliberately brought down several project values to below Bt1 billion to avoid coming under the Public-Private Joint Venture Act.


    Under the law, the contracts would have been subject to a more extensive review.


    Chulchit believes it was a "matter of differences in thought and approach". He wants to further negotiate with the AOT's current directors for a just solution.


    The two contracts, which cost Bt4 billion in concession fees, granted King Power the exclusive right to operate retail outlets and sell duty-free goods within the premises of Suvarnabhumi, Chiang Mai, Phuket and Hat Yai International Airports until 2015.


    So far, King Power has paid Bt2.63 billion in concession fees two years in advance. Financial analysts have calculated that revenues from King Power account for about 25 to 30 per cent of AOT's total turnover.


    Meanwhile, Deputy Transport Minister Sansern Wongcha-um has summoned the AOT board and executives for a discussion next week over the nullification of the company's contracts with King Power International.


    He said the nullification has affected confidence in the AOT, because the awarded concessionaire had signed the contracts but could not continue to do business.


    Sansern said Transport Minister Theera Haocharoen would also attend the meeting.


    "We will focus on how the AOT will handle its relationship with other companies," he said, adding the discussion will cover legal, political and economic aspects, as well as advantages and disadvantages of business transactions.


    An analyst at Ayudhya Securities said the AOT's contract termination with King Power is a threat to the AOT's finances because revenue generated from the concession is worth Bt1.23 billion per quarter, accounting for 25 per cent of AOT's total revenues in the first quarter this year.


    King Power would have to lodge legal action against the AOT, requesting damages from the contract termination, and the AOT would have to open a new bidding to replace King Power.


    "It is a time-consuming process and would have quite an impact," the analyst said.


    If the AOT reduces retail space, its revenues from the concession would also be reduced, the analyst said, adding the AOT might earn higher income if the new bidding is competitive and transparent.


    A Siam City Securities' analyst echoed the sentiment, saying King Power was the main renter of retail space at Suvarnabhumi Airport and it contributed around 30 per cent of AOT's revenues.


    As it was unclear whether AOT would gain an advantage or a disadvantage from the contract termination with King Power, the broker was uncertain.


    Asia Plus Securities Plc's research unit said the annulment of King Power's two contracts with the AOT should have a short term negative impact.


    "The research unit believes there will be a re-opening of the bidding for new operators. In that case, the AOT is expected to have more benefits than ever," it said.

    Business Reporters

  11. #11
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    ^ with their polo club connections, they're not easy/possible to shift...

  12. #12
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    About par for the course these days. Abramovich at Chelsea was the first (?) to distort the international transfer market with plundered Russian money, laundering 15% over the odds for players.
    Now there are quite a few despots and 'unusually-rich' people buying into football clubs. To go along with the cheating, play-acting, and accepted corruption that happens on the pitch, it all seems to fit.

  13. #13
    Suspended from News & Speakers Corner LooseBowels's Avatar
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    Quote Originally Posted by kmart View Post
    About par for the course these days. Abramovich at Chelsea was the first (?) to distort the international transfer market with plundered Russian money, laundering 15% over the odds for players.
    Now there are quite a few despots and 'unusually-rich' people buying into football clubs. To go along with the cheating, play-acting, and accepted corruption that happens on the pitch, it all seems to fit.
    Yes very so, and the UK government must now make up a law of being "unusually wealthy" and charge and convict the Leicster lot.

    After all the Leicester lot helped the junta make up the thai equivalent law.

    Thai law applies in uk, just like it applies in america , dont it?

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