Fascist Suthep movement attacks stock market listed firms seen as Thaksin (Up-Dated)

Local press reports, supporters of Yingluck, the target of weeks of sometimes violent street protests, denounced Fascist Suthep threats against businesses linked to her family. For the past few days, Fascist Suthep protesters, targeted businesses it identify as representing Shinawatra family. However, some observer speculate that since reputed in Thailand is that telecom firms, DTAC and TRUE of CP, are behind the scene supporter of Fascist Suthep, perhaps that is why Fascist Suthep has attacked AIS, a firm that Thaksin has un-loaded for years and has nothing to do with.

(Up-Dated) Thailand’s stock market chief, Charumporn, a few days ago, told the press, that he asks all involved in Thailand’s political crisis, not to link politics to the stock market. Earlier, fascist Suthep threatened to shut-down the Thai stock market. The sad fact of the situation is, most of the Thai participants in the Thai stock market, supports Fascist Suthep, with several brokerage house head, even coming out to say that they support fascist Suthep’s movement and objectives. The problem is, to most neutral and common people, it looks ridiculous and childish, the the Thai stock market, to support Fascism, and also when that fascism, is attacking the stock market (End)

Last Friday, about 500 anti-Thaksin protesters gathered this week outside the Bangkok offices of SC Asset Corp, a property developer controlled by the Shinawatra family, waving Thai flags and blowing whistles.

Many shares, seen related to the Shinawatra family, and targeted by Fascist Suthep, fell.  SC Asset’s share price has lost almost 10 per cent since Wednesday and mobile handset distributor M-Link Asia Corp, also with links to the family, lost 12 per cent.  Yingluck was executive chairwoman of SC Asset before being swept to power in a landslide election victory in 2011.

Other stocks affected include telecoms group Shin Corp, founded by Thaksin before he entered politics, and its mobile affiliate Advanced Info Service Pcl (AIS) which on Saturday sent an SMS to clients saying it no longer has any connection with the Shinawatra family.

Fascist Suthep’s protesters have blocked key Bangkok intersections with tents, tyres and sandbags, seeking to unseat Yingluck and halt the influence of her billionaire brother, Thaksin Shinawatra, an ousted former premier regarded by many as the real power behind the government. For the past few days, Fascist Suthep peotesters, targeted businesses it identify as representing Shinawatra family.

“What we don’t like right now is their involvement in threatening companies on the stock exchange that is not involved with government,” Tida, head of the United Front for Democracy against Dictatorship (UDD), told reporters. “It’s a move away from government into business.” The protests have already taken a toll on the economy, on tourism in particular, with arrivals in Bangkok sharply down.

The Red Shirts protest movement, based largely in Thailand’s populous north and northeast, is holding a meeting of its leaders from across the country on Sunday in Nakhon Ratchasima, north of the capital.

Other stocks affected include telecoms group Shin Corp, founded by Thaksin before he entered politics, and its mobile affiliate Advanced Info Service Pcl (AIS) which on Saturday sent an SMS to clients saying it no longer has any connection with the Shinawatra family.

“AIS is not involved in politics and is not a pipeline for any side,” it said. “Dr Thaksin and family have already sold all shares in the company since Jan.23, 2006, and from then are no longer connected with the company.”

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