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Wed, February 28, 2007 : Last updated 13:55 pm (Thai local time)



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Home > Headlines > Sonthi wants satellites back





Sonthi wants satellites back

Council for National Security chairman General Sonthi Boonyaratglin yesterday vowed to regain control of Thai satellites bought by Temasek Holdings, the Singaporean government's investment arm.

"I am thinking about Bt140 billion worth of national assets bought [by Singapore] that I want back, particularly the satellites," he said.

Sonthi made the remark when speaking to a group of 2,000 students under the territorial defence programme, during the launch of a patriotism-awareness campaign.

He asked fellow Thais to reflect on why a small country with no arable land like Singapore could become so wealthy as to be able to afford Bt140 billion for Thai assets.

The Kingdom has not moved forward as it should because patriotism has not been instilled in its citizens to brace them for nation-building, he said, urging everyone to sacrifice their individual interests for the good of the country.

He said the Army would spearhead a movement to raise awareness of the safeguarding of national territory and assets.

"The armed forces will take the lead in the restoration of social unity bound by patriotism," he said, lamenting the prevailing divisiveness triggered by lopsided development.

He pointed to Japan, Israel, Germany and Vietnam as models of nation-building and patriotism.

Sonthi also voiced the hope of seeing the country develop economically in his lifetime.

Meanwhile, a source said one option for the government was to amend the law so as to classify satellites as strategic weaponry, which would give the Defence Ministry control of them.

Shin Satellite Plc executives yesterday declined to comment.

Telecom expert Anupap Tiralap said the government could take control of the satellite concessions only if the satellite-operators broke the law by for instance wire-tapping or if their foreign shareholding exceeded the legal limit of 49 per cent.

ShinSat operates the broadcasting satellites Thaicom 1, 2, and 5 and the broadband satellite iPSTAR, all under concessions from the Ministry of Information and Communications Technology.

The company had a market capitalisation of Bt7.8 billion as of the third quarter last year and total assets of Bt33.48 billion.

Shin Corp controls 41.34 per cent of ShinSat.

A telecom-industry observer said yesterday that if the government took inappropriate means to retrieve the satellites it would scare away foreign businesses, as they would feel that there was no effective legal protection for their investments.








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