thegreglowe.com

by Greg Lowe

BANGKOK — Red Shirt anti-government protesters have conditionally accepted Prime Minister Abhisit Vejjajiva’s roadmap for national reconciliation in a move that is expected to end the rallies that have paralyzed parts of the capital for months.

Opinions are mixed over whether the plan can bring lasting peace to a country whose unity has become increasingly fractured along lines of wealth, development and the urban/rural divide. But many analysts believe the proposed dissolution of Parliament in the second half of September followed by a general election on Nov. 14 will see the Red-Shirt United Front for Democracy against Dictatorship (UDD) bring an end to its protests, which have lasted for more than two months now. Read more…

Last night the atmosphere on Silom Road was a far cry from the clashes between security forces and red shirt supporters on Viphawadi-Rangsit Road earlier that afternoon, which left one soldier dead and 18 people injured.

There were a few lines of police and soldiers dressed in riot gear, standing next to razor-wire cordons and guarding places such as the entrances to the BTS skytrain. Soldiers were holding shotguns or M16, but the magazines were not loaded. There was no sign of tension, no tinder box waiting to explode, and most of the security forces looked bored if anything. [Read more →]

Foreign Office says protests in Bangkok and beyond mean Britons should avoid all but essential visits to Thailand

Greg Lowe in Bangkok and Mark Tran

ONE THAI SOLDIER has died in clashes north of Bangkok between troops and red-shirted anti-government protesters agitating for the dissolution of parliament.

A Reuters photographer said the soldier was shot through his helmet as troops and riot police tried to stop a convoy of up to 2,000 red-shirts on pickup trucks and motorcycles who had left central Bangkok in to stage protests outside the capital. Read more…

The state of emergency declared in Bangkok late on Wednesday night has done little if anything to calm Thailand’s escalating political tensions.

The Emergency Decree issued by Prime Minister Abhisit Vejjajiva gives security forces extended powers to clear thousands of anti-government demonstrators from the heart of Bangkok’s luxury retail district. The protesters had been camped out there, at a cost of up to $430 million in losses to the country’s economy. Government spokesman Panitan Wattanayagorn said the decree was issued to “return normalcy” as well as “safety and security” to Bangkok. But it has so far failed to accomplish those ends. Read more…

By GREG LOWE
IN BANGKOK

THE Thai government’s declaration of a state of emergency in Bangkok and surrounding provinces will not significantly affect investor confidence in the country, says Thailand Trade Representative president Kiat Sittheeamorn.

The business community supports the government’s efforts to clear so-called Red-Shirt anti- government protesters from their rally point at Ratchaprasong intersection in the heart of Bangkok’s retail district, he said. [Read more →]

Despite reports of there being more than 100,000 red shirts in Bangkok already, at about 6pm tonight the numbers were still relatively low around the main convergence point at Ratchadamnoen Klang Avenue.

The red shirts had set up tents all along the road, from quite close to the Rattanakosin Hotel, but there were very low numbers, only handfuls really along lead up to Democracy Monument, and the road was pretty much operable as normal. [Read more →]

By GREG LOWE
IN BANGKOK

THE government is hopeful that this weekend’s mass protests will pass without violence, but security forces are well prepared for any incident, Foreign Minister Kasit Piromya says.

Thousands of red-shirt supporters of former prime minister Thaksin Shinawatra yesterday started mobilising from around the country to converge on the capital tomorrow, when they plan a mass rally to force the Abhisit Vejjajiva administration to step down. [Read more →]

By GREG LOWE
IN BANGKOK

THAI-LISTED companies saw net profits surge by 42 per cent last year to 446.51 billion baht (S$19.13 billion) on sales totalling 6.39 trillion baht, the Stock Exchange of Thailand (SET) says.

The top-performing industry groups were resources, finance, and property and construction respectively, with PTT, Siam Cement, PTT Exploration and Production, Bangkok Bank and Siam Commercial Bank as the five most profitable firms.

‘The strength of business sectors and the firms’ ability to adjust their strategies resulted in the companies’ improved operating performance,’ said SET president Patareeya Benjapolchai. [Read more →]

When I spoke to Dr Thitinan Pongsudhirak, director of the Institute of Security and International Studies at Chulalongkorn University, last weekend about the Thaksin assets verdict, he raised some thought-provoking points about why the Supreme Court’s ruling would not usher in a new era of political stability.

The ruling was in fact likely to strengthen claims by Thaksin’s supporters that the court judgement was far from being impartial or free from political motivations, he said. [Read more →]

By GREG LOWE
IN BANGKOK

THE Supreme Court’s landmark ruling to seize 46.37 billion baht (S$1.97 billion) in assets belonging to the family of former prime minister Thaksin Shinawatra is unlikely to have a significant impact on the Stock Exchange of Thailand index or investor sentiment in general, analysts say.

Two grenade attacks on Bangkok Bank branches in the capital late on Saturday did little to allay fears that the ongoing political tensions could bubble over into violence. But despite the incidents, analysts do not expect the verdict to have much impact on trade on the SET when it opens tomorrow after a public holiday today. [Read more →]