November 30, 2001
Rerngchai is not the only culprit in crisis
General Chavalit Yongchaiyudh, the defence minister, sprang a big surprise. He revealed yesterday that at the height of the 1997 baht crisis the government he headed struck a secret currency swap agreement worth a staggering US$10 billion (Bt440 billion) with the Chinese government.
November 28, 2001
Rerngchai - sinner or scapegoat?
Rerngchai Marakanond, a former Bank of Thailand governor, is about to pay a dear price for his central role in the futile baht defence in 1997. Is he a scapegoat? Thanong Khanthong looks at the baht-defence debacle.
How the baht was 'attacked'
November 23, 2001
Thaksinomics dead in Japanese waters
Thaksinomics has proved to be shortlived indeed. On Tuesday, Prime Minister Thaksin Shinawatra told a Japanese audience in Tokyo that he would still embrace the East Asian Economic Model, of which Japan is the driving force. By saying so publicly, Thaksin made a Uturn in his core economic thinking.
Berli shares soar 30% on bid
The stock price of consumer products company Berli Jucker Plc jumped almost 30 per cent to Bt39.75 yesterday on news of a takeover bid by liquor tycoon Charoen Sirivadhanabhakdi, who is expected to make a 100percent tender offer and to then seek Berli Juckerís delisting.
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What went wrong with the IMF
Who sold Thailand's sovereignty
Finance One's Fiasco:
Finance One becomes the only Thai corporation honored to be mentioned on the popular multimedia encyclopedia, Microsoft Encarta. Here is the excerpt from Encarta:
"In March 1997 the authorities temporarily suspended trading in certain stocks and announced emergency measures, as Thailand’s largest finance company, Finance One, nearly collapsed, triggering a financial panic; in May, Thailand’s bank spent some US$10,000 million to support the collapsing Thai currency and introduced exchange controls."
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