Only 223 million baht
recovered from alleged
Despite attempts by the current government to root out
the official corruption, malpractice among state officials continues,
according to a senior Finance Ministry official.
A total of 206 cases of alleged corrupt practices among
government officials were identified during the preceding six months, from
October 2006 through March this year, resulting in a Bt1.269 billion (US$39
million) lose to government coffers, said Manus Jamweha, deputy
director-general of the Finance Ministry’s Comptroller General’s
Department. To date only Bt223 million (about US$7 million) has been
According to Mr. Manus, 140 cases involved legal
violations totaling Bt1.128 billion, 30 cases of cash and assets theft
valued at Bt56 million and 36 cases of theft amounting in total to Bt85
He said government officials found to have been
implicated in corruption were ordered to pay back Bt223 million to their
The military Council for National Security (CNS) cited
massive corruption as one of the major reasons in toppling the elected
government of Prime Minister Thaksin Shinawatra on September 19, 2006.
The current military-installed government of Gen. Surayud Chulanont has
pledged to weed out corruption in the country. The Comptroller General’s
Department plans to hold a seminar on law and responsibilities of the
government officials, aimed at preventing malpractice within government
organizations, Mr. Manus added. (TNA)
Chiang Mai-Kaohsiung non-stop
China Airlines launched a new Kaohsiung, Taiwan to Chiang
Mai non-stop service with three flights per week, using a Boeing B737-800
This is China Airlines’ second passenger service to Chiang Mai,
following its Taipei-Chiang Mai flights in March of 2005. China Airlines
will operate a two class service, with eight seats in Dynasty Class and 150
seats in Economy Class. The Chiang Mai-bound flight CI 691 will depart
Kaohsiung every Wednesday, Thursday and Sunday at 07:00 and arrive at Chiang
Mai International Airport at 09:35. The return flight, CI 692, will leave
the same day at 10:25 from Chiang Mai, and arrive in Kaohsiung at 14:50. CMM
Tourism Authority launches aggressive campaigns to lure tourists
TAT Governor Pornsiri Manoharn says the number of
tourists from many countries such as Japan and Singapore was low during the
first two months of this year. In order to meet the target of receiving 14.8
million tourists, or about 547 billion baht of tourism revenue, the TAT is
cooperating with many of its alliances such as VISA and KTC. The TAT and the
KTC are jointly organizing the Bangkok Fest & Fun project from now until
December 5th, 2007. The purpose of this project is to celebrate the 80th
birthday of His Majesty the King while promoting tourism.
This year, the TAT is planning to spur tourism during the
low season by attracting tourists from the Middle East, Australia, New
Zealand, India, South Africa, Indonesia, and the Philippines, with the help
from the Thai Hotels Association (THA) and the Association of Thai Travel
Thai stock market set
to improve after election
The Thai stock market is expected to become bullish again
after the completion of the draft constitution and the fixing of the date of
the general election, a senior executive of the Stock Exchange of Thailand
SET Vice President Vichate Tantiwanich said most
investment in the Thai stock market this year would be for speculative
purposes as most investors believed stock prices would decline further and
yields would fall below their expectations.
Political uncertainties in Thailand are to blame, said
Mr. Vichate. He said he was optimistic that stock investment, especially by
local investors, should improve following the completion of the draft
constitution and the date of the general election is fixed.
Prime Minister Surayud Chulanont has said the general
election would be held this December but many analysts are still worried due
to the prevailing political tension.
Business operators are also feeling uneasy about
political uncertainty as consumers slow down spending, said Mr. Vichate.
Firms which plan to list on the SET with an aim to mobilize funds are now
reluctant on fears that initial public offering (IPO) price would not fetch
Many of the companies are waiting for the right market
timing and they would probably list on the market during the second half of
2007 when local political atmosphere brightens, said Mr. Vichate.
Despite the ongoing gloomy market, the SET still maintains its projection
that 40 companies would be listed on the SET and 24 on the Market for
Alternative Investment board this year. (TNA)
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