Who is the Client ? Temasek or Thaksin

Surin Upatkoon, the main shareholder in the controversial Kularb Kaew Co, was yesterday charged with a criminal offence for alleged illegal representation of a foreign company under the Foreign Business Act 1999.

Acting police chief Seripisut Temiyavej said that Fairmont Investments Group, based in the British Virgin Islands, would also face criminal charges under the act.

In his testimony given last September, Surin claimed that he had financed his investment in the company with his own money.

He also insisted he was not a nominee of the Singaporean government's investment arm, Temasek Holdings.

The above was published by The Nation on 25 August, 2007.

            Not much. The police was not willing to provide anymore details of what went behind the scene.

            Let us look at the fact:

            On 10 March 2006 Datok Surin wrote a check worth 2,720 million baht to Kularb Kaew Co, for payment of his shares, from his very own account at Siam Commercial Bank. The cash was withdrawn in the afternoon; however, the very same amount was deposited into this account from an offshore company called Fairmont Investment Group, based in BVI. in the morning, same day.

            Furthermore, the investigation conducted by the Ministry of Commerce revealed that this offshore account was with the Credit Suisse Bank in Singapore ,  under the name of Fairmont Investment Group. Things get more complicated, when it was found that the owner, Fairmont, was not the one that has the authority to withdraw the cash. The payment instruction was from the company called Green Land Company limited.

            One can easily assume that Green Land is definitely the owner of the mystery 2,720 million baht. Interesting enough, Datok Surin also admitted that the investment money was not his. He borrowed them from Fairmont!!

            Who is the man behind the scene that is so very kind to Datok Surin, kind enough to lend him over 2 billion baht cash to invest in Kularb Kaew.

            We need to take a close look at Fairmont or, rather, the real owner, Green Land Company Ltd.

               The following is new stuff, posted especially for Nation blog members krub.

            Green Land Company Limited was established in Brunei. Here is the address:
Britannia House 41, 4th Floor, Cator Road Bandar Seri Begawan, BS8811 
Brunei Darussalam 

            Further digging krub:   Having the name and with the help of Goggles, more fact reveals.

            There is a company called Heritage Trust Group that is sharing the same address as Green Land Company limited. Heritage Trust Group is also at  Britannia House 41, 4th Floor, Cator Road Bandar Seri Begawan, BS8811   Brunei Darussalam.

                 Another surprise!!They both also shared the same correspondence addresses in Singapore as well. Here it is: 50 Raffles Place #15-05/06 Singapore Land Tower  Singapore 048623 

             Who are the Heritage Trust Group? Two names came up:   Dr Angelo Vernados  and  NG GEOK LAN

             Dr Angelo Vernados   is currently founder of the Heritage Trust Group,Singapore, a provider of offshore companies, nominee and trust services to the legal, accounting and private banking sectors throughout South East Asia and the Middle East.

                            Ref:http://www.intellitrain.biz/team_advpanel.php

 NG GEOK LAN   also sits on the board of Heritage Trust Group. He is the one that authorize the 2,720 million baht on behalf of Green Land Company Ltd.

From the above, we can conclude that the money invested in Kularb Kaew that was supposed to be from the Thai entity is no longer valid. The money was from offshore account, managed by Singaporean company that provided what they call “ Wealth Management Services”.  Dr Angelo Vernados and NG GEOK LAN  are merely nominees, part of the services, that the company provided to the client.

When Surin cried out loud that he was not a Tamesek nominee. I truly believe in him. Tamesak belongs to Singaporean Government. No reason for the Government to arrange such a set up. I cannot help myself recalling on my very first theory that Thaksin never did sell his shares?  So, who is the client? Temasek or Thaksin. Your guess is as good as mine.

BTW: If you can read Thai and rich enough, you may want to click on http://www.korbsak.com/talk_500420.htm  to get more information on “Wealth management services ”. ha ha