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Thai Government won’t sue telecom companies for compensation

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Shin Corp

The government will not file civil compensation claims against telecom companies for possible losses to the state caused by past amendments to concession contracts, says Finance Minister Korn Chatikavanij.

Mr Korn said civil claims against local telecom firms would only penalise existing shareholders, who were not involved in past changes to concession agreements that may have been illegal.

“The [Supreme Court] verdict [in the Shinawatra family assets case] has nothing to do with current shareholders,” said Mr Korn.

“Although it is the same entity, [current shareholders] did not benefit nor were they involved [in the amendments]. To reverse the concession would only damage [current shareholders].”

Shin Corp

The Supreme Court last month ordered the seizure of 46 billion baht in assets from the family of former prime minister Thaksin Shinawatra for implementing policies that benefited his personal interests, namely his shareholdings in telecom giant Shin Corp, mobile operator Advanced Info Service and satellite operator Thaicom.

via Govt won’t sue telcos.

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Environment

Asian cities most threatened by environmental risk

According to the first instalment of Cities@Risk series, which ranks the world’s 576 largest urban centres on their exposure to a range of environmental and climate-related threats, 99 of the world’s 100 riskiest cities are in Asia, including 37 in China and 43 in India.

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Companies operating and investing in Asian cities are going to face an increasingly stiff test to their resilience.

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Investment

Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI

The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.

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The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.

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