Bangkok Intelligence News

Thanong Khanthong

A Haiku journey into Suwannabhumi Inc

O Suwannabhumi Inc,
Thais Love Thais like never before:
It's time to rejoice.

The rich Golden Land
Would be forever saved from doom
By corporate brand.

The three-year crises
Have left Thais in rags and ruins.
Where're the good old days?

The old Ayutthaya
Had never lost its good soul:
Here comes Shinawatra.

Under a spell,
The people cast their big votes
To frighten the hell.

Through surreal marketing,
the telecom man brings up
Inflation targeting.

"I am CEO,
Destined to resurrect this land
With a new manifesto."

All the living pain
Will disappear overnight,
Like a summer wind.

Our Suwannabhumi Inc
Will not be sold for the cheap;
Stay away, farang.

Dear Mr IMF,
Enough is your poisonous dose:
I do it My Way.

Wipe the farmers' tears;
Let there be debt forgiveness -
Bygones be bygones.

The new millennium
Brings forth a new culture
Of debt moratorium.

Extra votes, extra million!
For every village of the land
Will enjoy the bullion.

Don't ask the taboo:
Where shall the money come from?
Roll out the printing press.

It does not matter,
In hell or heaven alike,
You must make profits.

In every tambon,
There lies one genius product,
the ultimate goal.

Lay down your sickles
And disarm your hammers,
Wait for the miracle.

For any diseases,
Just pay 30 baht to your doc
And walk away in peace.

To all the debtors enslaved,
Here is the national AMC:
Be damned or be saved.

The bankers squirm
From their sins, tightly sealed
In a can of worms.

No money, no problem!
Just borrow from the People's Bank
with your ATM.

Let it be known
That in every pocket there'll be
A cellular phone.

Suwannabhumi Inc

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What's new:

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'

Throughout the stormy events that preceded the 1997 crisis, the baht came under pressure from two battlegrounds: the spot market and the forward market.

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 Jucker’s delisting.

Overdrive

I have added a new section called Overdrive where I put my commentary pieces, which have been published on the editorial page every Friday.

My Chat Room

I've added a chat room to this site. Hope to have a chance to talk live to you all. You can also now search my site by using a search engine in My Chat Room and Message Board pages. Visit My Chat Room now.

What went wrong with the IMF

Here is a series on why International Monetary Fund made mistakes in its attempts to cure Thailand's economic malaise.

Who sold Thailand's sovereignty

The New Aspiration Party accused the Chuan government of causing Thailand to lose its sovereignty to IMF with the fifth letter of intent. Instead, the NAP-led government itself did it.

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."