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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.

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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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Business

Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)

The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.

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The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.

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Asean

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Indonesia’s Omnibus Law: The Positive Investment List and the Liberalization of Business Sectors

In the first of ASEAN Briefing’s Indonesia’s Omnibus Law series, we analyze Presidential Regulation 10 of 2021 (PR 10/2021) on business fields open to investment — also dubbed as the positive investment list. The regulation comes into effect on March 4, 2021.

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Investment

Foreigners’ Participation in Thai Listed Companies explained

Special vehicles have been created to facilitate foreign investors so that they are able to invest in Thai
securities flexibly and conveniently.

Boris Sullivan

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Similar to foreign business laws existing in most Asian countries, Thai laws have imposed restrictions on foreign ownership of Thai companies.

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