Thailand's three most powerful business bodies, which have stayed on the sidelines throughout the political clash, will soon break their awkward silence.

Executives at the Board of Trade (BoT), the Thai Bankers Association (TBA) and the Federation of Thai Industries (FTI) will address the situation on Monday after maintaining a wait-and-see attitude in the face of the political turbulence.

"We may issue a statement after holding a meeting," said Pornsilp Patcharintanakul, deputy secretary-general of the BoT.

Monday's meeting will come on the heels of heightened tensions following Prime Minister Thaksin Shinawatra's speech at Sanam Luang yesterday and ahead of a planned anti-Thaksin rally on Sunday.

The clash has drawn people from all walks of life to take a stand, particularly academics and politicians. In 1992, when Thailand was plunged into a bloody conflict in May, the three bodies united to signal a need for former prime minister Suchinda Kraprayoon to quit.

Thawatchai Yongkittikul, secretary-general of the TBA, said the association had remained silent because weeks earlier it had joined a press conference with other bodies to express their concern about the political instability.

 "Since then, we have not yet discussed it again as we have been busy. As businessmen, we should not make opinions about something that may affect the economy," he said.

Pornsilp said the BoT had already expressed its stance that there should be no confrontation to avoid a negative impact on the economy and trade.

"Our association focuses mainly on trade, not politics. Right now, politics has had no impact on trade or the economy. But we are concerned about the longer-term effects. Violence would only spoil Thailand's image. Right now, we are closely monitoring the situation," he said.

A source at the FTI said it would also discuss the issue on Monday.

"As stakeholders in this society, we should produce something to show a united stand by the private sector," the source said. "Given that the conflict is continuing, we should show the public what direction to take."

He urged Thai Rak Thai and the opposition to each take a step back. The opposition should join the election while TRT leader Thaksin should leave office temporarily.

That would allow for constitutional reform and then a new election could be called. "If Thaksin does not step down," the source said, "this will never end."

The Thai Chamber of Commerce, a unit under the Board of Trade, has meanwhile closely reviewed the situation, said Dusit Nontanakorn, secretary-general of the chamber. "Still, we have not yet called for a meeting as the situation so far has remained under control," he said.

Public concerns were mostly reflected through short-term investment, particularly equity investment.

Stock prices have stayed steady due to buy orders in large-cap energy and banking stocks. Trading volume fell this week as most investors stayed on the sidelines, waiting for the picture to clear.

The SET index yesterday closed at 753.39 points, up 1.56 per cent over the week.

The volume of trading yesterday was Bt13 billion, down from Bt16 billion on Thursday and Bt18 billion on Wednesday. 

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