From: kamol@ipied.tu.ac.TH (Kamol Hengkietisak)
Newsgroups: soc.culture.thai
Subject: Bangkok Post Nov 22: Mags roundup
Date: 23 Nov 1992 16:33:37 +1100
Organization: Mail/News gateway
NNTP-Posting-Host: munnari.oz.au


Bangkok Post Nov 22: Political 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withdrawn Gen Yuthapan and whether he might feel that it 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.
Newsgroups: soc.culture.thai