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BANGKOK (Dow Jones)--A group of protesters rallied Tuesday in front of the Singapore Embassy in Bangkok, demanding that Temasek Holdings Pte. Ltd. (TEMAH.YY) pull out of its takeover of Thailand's Shin Corp. PCL (SHIN.TH) or face a boycott of all Shin products and services, The Nation reported Wednesday.
About 50 activists from the People's Alliance for Democracy, which has led rallies against Prime Minister Thaksin Shinawatra in the past few weeks, also submitted a letter to a senior embassy official.
The letter, addressed to Singapore's Prime Minister Lee Hsien Loong, called on Temasek to nullify the Shin deal by Thursday, citing a threat to Thailand's national security, the report said.
Temasek's units, Cedar Holdings and Aspen Holdings, bought a 49% stake in Shin Corp. from the family of Thaksin in late January. The sale sparked anti-Thaksin sentiment as many critics said the deal lacked transparency.
Cedar and Aspen are making a public tender for the remaining shares of Shin.
Thursday is the last day of the tender offer and the deadline for Temasek to alter the terms of its public tender if it concludes there are factors that could significantly damage Shin's status and assets, according to the Nation.
3 comments:
funny how not a single singapore media is reporting on this issue
recent temasek investment returns have been flat (which is why they wanted people to look at 30 year returns rather than 5 year - think long term!); if the strategy brings protests rather than money, change will be inevitable
^I wasn't aware of any protest reported by the shit times or CNA this morning. They only responded after reports started poping up from international media which was late evening.
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