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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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Thailand BOI Approves Measures to Promote Industry 4.0 Transformation

The measures approved include a 3-year corporate income tax exemption covering 100% of the investment into the Industry 4.0 upgrade.

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The Thailand Board of Investment (BOI) at a meeting today approved incentives to encourage companies to speed up Industry 4.0 transformation, and reported that total investment applications for the nine months to September 30 amounted to 520.7 bil-lion baht (USD15 billion), already higher than for the whole of last year.

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Thailand BOI Approves Measures to Support Carbon Reduction

greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine development

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The Thailand Board of Investment (BOI) approved incentives to encourage companies to reduce greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine development, Ms Duangjai Asawachintachit, Secretary General of the BOI, announced today.

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