Good Bye House???

Post by **BigBoy** » Tue Dec 26, 2006 10:14 am

For those whom used the corpaorate loophole to buy a house are in for a bad day, ???
Will you be out in the cold!
BUSINESS / NOMINEES

Up to one year likelyto sell down holdings
PHUSADEE ARUNMAS

The Commerce Ministry is likely to give companies with nominee problems between six months and one year to sell down shares to comply with the Foreign Business Act, minister Krirk-krai Jirapaet said yesterday.

"It is highly possible that the schedule will be varied based on factors of each business sector, and the size of capital of individual companies," said Mr Krirk-krai.

Companies with low registered capital between 300 million and 500 million baht might need a shorter time to divest their foreign shareholdings, but those with capital between one billion and ten billion baht need more time, he said.

The legal changes, he added, would not hurt investor confidence. "We're altering a law and it has nothing to do with investor confidence, and I believe that confidence will grow when the rule is corrected," he said.

"Those who breached the law should now conform to it. This problem is a critical one for Thailand as nominees have been widely used to do engage in businesses that are prohibited to foreigners."

The ministry is expected to finalise revisions to the 1999 Foreign Business Act this week, including changes in foreign shareholding limits and the definition of nominees. The adjustment period might not take as long as three years as foreign investors requested, he said.

"Anyway, we will consider the draft from the committee before making a decision," Mr Krirk-krai said.

Concerns about foreign ownership and the complex structures used by some companies have been a major issue since the takeover of Shin Corp in January by Temasek Holdings of Singapore.

The ministry is now waiting for the revised draft prepared by a committee chaired by Pramon Sutivong, who also serves as chairman of the Thai Chamber of Commerce. The committee is scheduled to conclude revisions on Thursday.

According to Mr Pramon, the law would be changed to give a clearer definition of "nominees" and the timeframe for companies with nominee problems to adjust. In addition, the committee would specify which businesses foreigners can invest, and which remain off limits.

Committee members, who began working two months ago, still disagree on whether to eliminate some service industries now reserved exclusively for Thais.

"But all [disputed issues] will be concluded [today] with options for the ministry," said Mr Pramon.

Besides the Foreign Business Act, the Commerce Ministry is also amending the Retail Act. Both drafts will be submitted for cabinet consideration next month.

Post by **Winkie** » Tue Dec 26, 2006 10:54 am

This is aimed squarely at Shin Corp

Joe Bloggs with a single property owned through a Nominee Company won't feel any of this

Winkie

Post by **johnnyk** » Tue Dec 26, 2006 1:29 pm

Where did this story appear?

Post by **Lev** » Tue Dec 26, 2006 1:37 pm

Please ignore this thread, it has been made by our old friend "ITKMAN", "HonoluluJimmy" and now going under this guise which has also been banned along with his IP address.

In addition he sent me this welcoming PM yesterday:

A bunck of thugs grab up a post looking for help from sponsors, I put a nasty on that action and you are hurt...I could care less...What you need to know is....I'll be living in HH and when we meet, cause I'll be looking for you, I'll help you to understand the error of you ways....Khao Jai...

Dude, you need mental viagra

This man has serious mental health problems and is best avoided, lets hope Hua Hin can be spared of this lunatic.

Post by **Big Boy** » Tue Dec 26, 2006 1:45 pm

Lev wrote:

Please ignore this thread, it has been made by our old friend "ITKMAN", "HonoluluJimmy" and now going under this guise which has also been banned.

Thank you very much for that - can you imagine my reaction when I read the OP by BigBoy?

Post by **Guess** » Tue Dec 26, 2006 4:33 pm

You would think the dumb arse fucker would have had the sense to at least steal the Avatar from Big Boy.

If there is any substance to that threat then he will need an army.

Post by **PeteC** » Tue Dec 26, 2006 5:24 pm

Save the PM, Lev. If and when he's identified in the flesh, print it and take it to immigration and his visa will be toast immediately for terroristic threatening.

In fact, if you can trace his identity, send the information to his ISP and copy the Honolulu Police department, internet crime division. Take the whole package to Thai immigration as well and indeed they will deny a visa and entry.

Good riddance to bad rubbish. Pete

Post by **dr dave soul monsta** » Tue Dec 26, 2006 6:28 pm

If any one else has received any threats or abusive pm's or mails from this person please forward them on to webmaster @ huahinafterdark.com

Post by **buksida** » Tue Dec 26, 2006 8:48 pm

Apparently the muppet has been banned from forums across the internet, just Google his handle.

Some people just cant handle the responsibility of a keyboard eh!

Post by **johnnyk** » Wed Dec 27, 2006 3:25 am

Yes, HandJobJimmy has been booted off just about every Thai forum now.
He'll have to console himself with vids of BKK from the corner store.

Post by **STEVE G** » Wed Dec 27, 2006 10:22 pm

Regardless who posted it, if anyone is interested, the article was from the Bangkok Post business section.

sargeant · Post by **sargeant** » Thu Dec 28, 2006 8:06 am

That made me smile poetic justice i thought after all his vitreol and threats he gets banned for posting a bangkok post article

Wottatosser

Its a cracker