Organization: Central Michigan University
Newsgroups: bit.listserv.seasia-l
Date:         Mon, 23 Nov 1992 07:54:00 EST
From:         Elliott Parker <3ZLUFUR@CMUVM.CSV.CMICH.EDU>
Subject:      TH: Political mags roundup

=======================  Forwarded  Message  ===========================
Date: Sun, 22 Nov 92 20:19:46+0700
From: Kamol Hengkietisak <kamol@ipied.tu.ac.th>
Subject: Bangkok Post Nov 22: Mags roundup


Government in a quandary

WHICHEVER way you look at it, Territorial Defence Director Lt-Gen
Yuthapan Makaramanee's criticism of the Government clearly signals
the fact that Thai politics is running into problems and the
chances of a political upheaval is rising, says Manager columnist
Rambutree 516.

Lt-Gen Yuthapan who used to be a close colleague of Gen Suchinda
Kraprayoon said that "the Government's work is improving but there
is still uncertainties within the Government. The stability will
depend on the leaders' administration of the country. Our
political system is still one of business politics and there is no
honour system, therefore good soldiers are wary of politics."

The man who had been earmarked by Gen Suchinda as commander of the
1st Army Region said that personally he would like to see Thai MPs
with higher qualifications in education, financial status, morals
and benefits, so that they will have honour and prestige.

He felt that there is a good chance that Gen Suchinda may enter
the political arena again since it will represent a way for Gen
Suchinda to rescue his good name and honour. It will not be for
revenge and may take place in 1993 or 1994 since he will have to
wait for the political situation to work itself out.

It is impossible to tell if Prime Minister Chuan Leekpai feels
uneasy about the uncharacteristic interview given by the usually
withdrawn Gen Yuthapan and whether he might feel that it
represented part of an overall plan by the military and the old
power group to unsettle the Government.

Ever since the beginning of November there had been repeated
criticisms of the Government by military leaders, starting with
questions about the Government's stability by Permanent Secretary
for Defence Gen Suvich Chandarapradit, followed by Air Force chief
ACM Gun Pimarntip's disclosure about possible plans for the
setting up of a political party by ACM Kaset Rojananil. This was
followed by a statement by Army chief Gen Vimol Wongvanich which
showed his apparent unhappiness at the politicians' suspicion of
the military in spite of the military's declaration of its
intention not be become involved in politics.

It may not be entirely fair to conclude that all these statements
had been organised as part of a campaign to remove the Government
because even though those presently in power in the military may
belong to the same class as those who had lost power, they are of
different nature, one side being professional soldiers while the
other were political soldiers.

The optimists may see this as a mere coincidence in that the
professional soldiers may feel a need to show their strength in
the face of pressure from the Government to abolish the
peace-keeping directorate's law and to amend the 2503 BE defence
regulations. This may have coincidentally matched up with moves by
Gen Suchinda and ACM Kaset to set up a new party, leading many to
think that it was all a calculated move.

A seasoned observer suggests that the military is now maintaining
its independence, not making any aggressive move against the
Government but not going along wholeheartedly with the politicians
since they may feel that the present government may not last
another six months since there is no real unity, there has been no
real result and it is going round in a circle. The justification
for its existence may also have been lost with its effective
neutralisation of the Amnesty Decree.
Sia Song's no ordinary man
THIS week, there is no news bigger that of the charging of "Sia
Song" with share manipulation since it sent a shock wave through
the stock market, prompting the Finance Ministry to set up a fund
to support share prices, said Naew Na daily.

Sia (tycoon) Song is no ordinary share investor since it is said
that whatever share he touches, it is bound to ceiling repeatedly
or bottom in the same way.

Song Watcharasriroj is an enigmatic person, even in his personal
life. He is a person of contrasts who on the one hand is accused
of being a share manipulator but who on the the other hand is
known to be a major benefactor of the Dharmakai Temple who has
made a donation of six million baht in one single move.

He is also a lover of fine art who has bought a city centre
condominium to house a rich collection of fine paintings.

Song grew up in a middle class Chinese family and had to fight
fairly hard for his own survival, although he managed to graduate
with a law degree from Thammasat University in 1977. In the first
10 years after graduation, Song dabbled in the futures and
commodity markets as well as real estate. It was an up and down
career which was far from easy.

The turning point in Song's career came in 1987 when he because a
close confidant of the late Sia Pa or Suvit Mahatalaeng, a major
tycoon of the time. Here he honed his skill at share management
while looking after Sia Pa's portfolio which came in useful when
he started trading shares on his own after Sia Pa died two years
later.

Song really took off after he became famous and was entrusted with
looking after the portfolios of a great number of people, not the
least of whom came from the Dhammakai group. Armed with such
enormous resources, Song managed to affect every share he touched.

One of the Dhammakai group he knew well was Ouaychai Virawan,
brother of New Aspiration Deputy Prime Minister Amnuay Virawan,
who set up a company with him. This led to rumours of Song's
involvement with the New Aspiration Party and rumours that much of
the NAP's finance came from the stock market.

Lately, every unusual movement of the stock market is blamed on
politics, particularly when such movements tended to coincide with
political incidents.

Just before he was arrested, Song was reputed to have been taking
refuge at a politician's house, but there was no confirmation.

Song's alleged involvement in the unusual movement of share prices
was kept under close observation, but no proof could be secured.
Such stocks included Krisda Maha Nakhon, Bangkok Metropolitan
Bank, Ratana Real Estate, Mutual Fund, First City Investment.

His single big mistake was in his wholesale buying of the Bangkok
Bank of Commerce which allowed him to control the price of the
stock. It is said however that part of the BBC stocks Song had
bought had come from a major holder.

It was also alleged that the seller had had a secret agreement
with Song which was not followed, prompting the seller to dump
more shares into the market to force down the share prices to
bring Song to his knees.

Unexpectedly, Song bought up all the new shares, supported by his
co-financiers and friends as well as finance companied which had
faith in him.

The sellers checked the share proportions to make sure that they
were still in control, then struck back, making use of the fact
that Song by then had bought some 30 per cent of the BBC shares,
in contravention of SET regulation which forbids any one from
holding more than five per cent in bank shares.

The sellers asked the SET to suspend dealings in BBC shares,
sparing a huge protest from small investors who pressured the SET
to drop the suspension sign. As soon as the sign was removed, the
share shot up from 27 baht to 69 baht, prompting many to declare
that the share was being manipulated.

This further steeled the determination of the sellers who was more
determined than ever to break Song.

Whatever happens, Song cannot afford to lose this battle since it
will mean the survival of his entire future.
Footnote:
THE controversial Judicial Commission row is likely to flare again
as a pro-Prapass Ouaychai group is reportedly trying to revive the
issue, according to a report of Khao Pises weekly magazine.

Besides attempting to submit a petition to His Majesty the King,
they are also reportedly in possession of cassette tapes
recordings of a commission meeting which could be used as evidence
to file a lese majeste charge against the commission which is said
to be under the influence of Mr Pramarn Chansue.

What worries officials is an apparent attempt to muster village
scouts from various districts to push legal action to be taken
against the whole commission.
* * * NOBODY who had experienced the October 6 uprising would ever
forget the right wing group King Cobra whose activities were
similar to the Apirak Chakri group.

Khao Pises weekly magazine reported that this group has quietly
emerged again and will concentrate its attacks on people who are
said to be too talkative and like to offend a high institution.

"Keep a close watch on taxi drivers because they are known to be
the main informers of the group. Those who like to criticize must
be very careful," the magazine warned.
* * * A REPORT from Paris said the restaurant partly owned by
former chairman of National Peace-keeping Council Gen Sunthorn
Kongsompong is on the verge of being taken over by his partner.
This is not because the food is not good or no customers, but
because of the general's business naivity and trusting nature,
Khao Pises weekly said.
* * * GEN Chavalit Yongchaiyudh is the one who deserves the most
sympathy these days, according to Khao Pises. Since his
appointment as interior minister, he has to deal non-stop with
headache issues, starting from planted bombs, brothels, motorcycle
crash helmets and the amendment bill on Muslim administrative law.

The move to amend the law introduced by New Aspiration Party
members has provoked anger among many leading Muslim figures,
especially the Chula Rajamontri (Muslim religious leader) who
threatened to resign if the bill was passed by the House. The
reason given is that the existing law is already good, if
amendments were introduced, they would lead to difficulties and
division among the Muslims.

If the law was amended and Chula Rajamontri resigned, Gen Chavalit
would run into trouble in future elections. This is because in the
last election he not only went to see the Muslim religious leader,
but he also promised to take special care of Muslim brothers if he
was appointed minister.

To go ahead with the amendment bill, Gen Chavalit is sure to be a
loser. The New Aspiration Party will certainly lose the support of
Muslim groups in the four Muslim dominated southernmost provinces.
He may also lose the support of Muslim groups in Nonthaburi and be
defeated in the next election.
* * * A WELL-wisher has built a pair of "Singha" in front of Wat
Dabpai in Chiang Mai to strenghten the horoscope and prestige of
Prime Minister Chuan Leekpai.

The action was taken after the abbot of the temple foretold that
something had to be done to improve Mr Chuan's prestige though his
horoscope was very good.

Columnist Spy No. 6 of Khao Thai said he was not jealous of other
people if they show their love to the PM whether she will be a
dentist named Mukda or others.
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