Thaksin - why didn't that deal go through?

[aka Dus]

We went (sack Parry, naturally) to talk to him and they possible came to Liverpool.

 

Informal talks were held and in the end what happened?

 

He didn't have the cash? We didn't want to play ball because the deal was structured wrong? The Thai people were going mental at his fund raising idea?

 

Please refresh my memory.

[Extraordinary Swindle]

He went public with the story - LFC got jittery.

It then became apparent that he intended to use public funds for the deal and was a violation of Thai law.

Deal died.

[Armin_Tamzarian]

From memory Parry went over for private discussions to find the Thai's had invited the worlds press. Then there were reported disputes over representation on the board, amount of investment etc. It started to disintegrate when Shinawtatra started to draw political heat over the funding of the project and began to mention lotteries. Finally a business colleague tried to ressurrect it.

[aka Dus]

Thanks lads.

[Rushian]

The source of the money was never clear - at one stage it was from Thaksin's personal fortune, then Government funds, then the public lottery then the head of GMM Grammy, Paiboon Damrongchaitham. All the while LFC were desperately reversing out of the situation with as much tact as possible in an attempt not to insult the huge fanbase in S.E. Asia - we were clearly kiboshed at that first meeting which was meant to be a private informal affair.

[fyds]

The source of the money was never clear - at one stage it was from Thaksin's personal fortune, then Government funds, then the public lottery then the head of GMM Grammy, Paiboon Damrongchaitham. All the while LFC were desperately reversing out of the situation with as much tact as possible in an attempt not to insult the huge fanbase in S.E. Asia - we were clearly kiboshed at that first meeting which was meant to be a private informal affair.

That's right - and it goes a long way to explaining our traditional 'omuerta' approach to such ventures being reinforced since in the hunt for investment.

[Molby]

That's right - and it goes a long way to explaining our traditional 'omuerta' approach to such ventures being reinforced since in the hunt for investment.

explains it, maybe

 

justifies it, absolutely not - different personalities and different cultures do things in different ways and that's why you need more than just a glorifies notary public to handle such things, i.e. someone who is worldly wise enough to cope with the job of bringing in foreign investment

 

it's laughable really, going into a deal like this and trying to insist that it stays hush hush - popular support in Thailand was always going to be a major part of Thaksim's effort at finding the money/bulldozing his financial plan through

[Rushian]

 

it's laughable really, going into a deal like this and trying to insist that it stays hush hush - popular support in Thailand was always going to be a major part of Thaksim's effort at finding the money/bulldozing his financial plan through

 

Not initially as the funds were going to come from his private family fortune.

[Molby]

Not initially as the funds were going to come from his private family fortune.

I understand that but people say all kinds to get their feet in the door

 

property purchase; "cash buyer?, quick completion?"

 

"oh yes, very much so, just send over the contract" - and in reality they're applying for finance and fully intend to take 6 months to complete

 

in other words insisting, or rather, expecting a policy of secrecy to be observed by all sides, is naive in my opinion

 

you can't expect to dictate policy to people whose experience and way of doing things is a million miles away from your own

[Mono]

different personalities and different cultures do things in different ways and that's why you need more than just a glorifies notary public to handle such things, i.e. someone who is worldly wise enough to cope with the job of bringing in foreign investment

 

HSBC bank would understand