Billions at stake, so Shin saga a national concern

TEMASEK'S purchase of Shin Corp has caught the world's attention. As has been reported in all major newspapers, Shin Corp's profit dropped by 60 per cent last year and the Thai government said on Tuesday that it would take over the nation's only private television broadcaster if it fails to meet a deadline next week to pay US$2.8 billion (S$4.3 billion) in fines and overdue fees.

The battle over iTV marks the latest move by the military-backed government against companies controlled by Shin Corp, the telecom giant founded by deposed prime minister Thaksin Shinawatra. As it now stands, Shin Corp has lost 45 per cent of its value, compared to the price Temasek paid for its takeover last year.

The Singapore Government has said repeatedly that it is a commercial transaction between Temasek and Shin Corp. But is it? If the Thai government revoked the concessions of iTV, AIS or Shin Satellite, Temasek could end up with absolutely nothing at the end of the day.

In other words, billions of dollars of our national reserves would just disappear into thin air. When you are talking about billions of dollars, is it not a matter of national concern?

I can accept that PAP MPs may be restrained from asking some tough questions because of political correctness or the Whip, but even the opposition MPs are not asking the right questions.



Patrick Tan Siong Kuan

Will Man United 'win' title at Anfield?

LONDON - LIVERPOOL captain Steven Gerrard admits that his side are no longer in the title race.

He feels the 16-point gap between them and league leaders Manchester United is too large to surmount, this late in the season.

He also realises that manager Rafael Benitez might rest some of his teammates, with Barcelona paying a visit on Tuesday for their Champions League second-leg clash.

However, he is still intent on beating the Red Devils tomorrow, when the two sides clash in the Premiership at Anfield.

He believes that a United win will virtually seal the League title.

So, he does not want to see the arch-rivals celebrating at Anfield, and hand the Liverpool supporters the proverbial slap in the face.

He said: 'United will be looking for maximum points, because it would virtually win them the League.

'We've got to do everything in our power to stop them.'

He was just an 11-year-old schoolboy when he witnessed United suffering the ultimate agony at Anfield.

The Red Devils' hopes of a first league championship in 25 years were crushed in a 0-2 defeat in April 1992, reported The Telegraph.

Leed went on to secure the then-First Division title.

Said Gerrard: 'The rivalry for this fixture has grown bigger and bigger over the years, but these are the games you want to play in.

'I know our fans are desperate to take the points. The players are as well.

'We've got a massive week coming up, but none of us are giving Barcelona a thought at the moment.

'We can't afford to, because we'll never get a result against United unless we are 100 per cent focused on them.

'The only pity is there is not more riding on it, in terms of a Liverpool title challenge.

'Silly points dropped earlier in the season cost us, but we're going to put everything into trying to close the gap.'

Still, he acknowledged the extent of the test facing Liverpool tomorrow.

He said: 'It hurts to say this, but United have been playing some really good attacking football this season.

'They are also really hard to beat, because they have some great defenders, so we know the task facing us.'

The Reds are defending a 30-match unbeaten Premiership run at Anfield, and a top-flight club record of nine successive clean sheets at home.

In their last meeting, Peter Crouch's header gave the Merseyside club a 1-0 victory in the FA Cup fifth round, just over a year ago.

However, Liverpool have not had a Premiership win over the Red Devils on home turf since a 3-1 victory in November 2001.

Goalkeeper Jose Reina believes Liverpool's dominant home form could prove decisive, but is mindful of the threat posed by Cristiano Ronaldo and Paul Scholes.

He said: 'We fully expect to repeat the 2-0 victory against Chelsea because, at home, we should not lose any match.

'United are playing so much better than last season, and it may be down to the return of Scholes and the form of Ronaldo.

'They are key players who give them great balance.'

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