Tuesday, March 31, 2009

From the news

I just don't want to raise issue about "political news". Now I found other news (equally depressing) that I think I can give my two cents.

From the linked news (in Thai language), the Department of Special Investigation (DSI), aka Thailand's FBI, is about to take action against a Thai subsidiary of a well known foreign company which imported tobacco from the US for alleged under-declarations of import tobacco prices. The news said that the falsified prices for 3 years have caused the kingdom a lost revenue of some 60 billion Bahts.

My comment is that, since the company under investigation has only a registered capital of 100,000 Baht (yes, that 's not a typo) if the Thai government will try to claim 60 billions Bahts in back duty plus interest from that company, how would that be possible. I think the Thai government agency would not dare to take legal against the giant foreign company. However, the thai subsidiary company could be sued, and if it lost, its shareholders would simply go bankrupt and the MOF will get nothing. Ta da ! Sad story, or perhaps stupid story, no, just plain greedy story. Possibly, there might be even more stinky missing information here as well, such as possible collaborators who work in some state agency.

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