bizAsia - the entry point to Asian business. Updated every hour around the clock.
With ThaiStockWatch.com you select what you want to know about - and we notify you instantly when there's news. CNNFN - the financial network
  - the entry point to Asian business.
Main
Front Page
News Overview
       By Release Time  
       By Subject
About BizAsia
Stock Markets
Terms of Use
You & BizAsia
Hot Topics Forum
Mailing list
Mail a friend
Privacy Policy
Search BizAsia 
Bizpages All
   
 
Holiday in Phuket? Check out Ya-Nui resort Yanui Resort
Thailand's first daily business newspaper
Sethi Embroidery. Quality embroidery at Thai prices
When IT development has to add to the bottom line - for you also.
Fighting misinformation about the deadly disease
  Articles 2
Crime   2003-01-28 13:10:00-05
Bangkok: 60 business illegally bulldozed
PM Thaksin has promised to act. Area-owner Sukhumvit Silver Star Co primary suspect in high-profile case of mafia tactics
Many foreigners were among the investors and operators of the
small businesses (mostly bars, restaurants, hairdressers and Internet-cafes) located at Sukhumwit Square on the corner of Sukhumvit Road and 10th alley.
 
Early Sunday morning several cranes, bulldozers and hundreds of hired hands demolished the area completely.
 
A police source said the land had originally been mortgaged with Tisco, a finance company.
 
The contract terms were not kept and Tisco had to take over the property, subsequently leasing it to BTR Holding Co. BTR then developed spaces and sub-leased them to traders.
 
Sukhumvit Silver Star Co later acquired the prime property from Tisco for 496 million baht but BTR continued to collect rent from the traders.
 
As Sukhumvit Silver Star could make no use of the land the leased it to Nickle Co who started to collect rent. Traders complained, as they were also paying BTR at the same time.
 
Sukhumvit Silver Stars manager, Mr. Charnvit Kamolvisit, are under suspicion of having been involved in Sunday's demolition but no charges have been pressed yet.
Alex, a 54 year old Scotsman running "Tipplers' Tavern" said "We acquired a valid contract with a legitimate company. We paid keymoney and rent and have invested a small fortune in building up the business over two and a half year. How can this happen?"
 
Many local people had invested a lifetime of savings in trying to establish themselves.
 
"It was to be the income for me and my sisters. It is only a month ago we opened. Everything is gone, the bar, our music system, our TV. We spent all our money" said a tearful Thasseene, "Made In Heaven"-bar.
Another foreign owner who asked to remain anonymous said: "One thing that puzzles me is that it can happen at all. It took hundreds of people and several bulldozers to accomplish this destruction in 2 hours. A massive wall were built. Police is patrolling 10 meters away on Sukhumvit Road."
 
Sunday PM Thaksin Shinawatra visited the place. He used the expressions "barbaric" and "perpetrated by anarchists". He promised compensation, to pursue the culprits and to sack any government official involved.
 
Alex commented "We are grateful for the support from the PM and we hope that he will live up to his words."
 
The last two nights the owners had established themselves outside the illegally raised barbed-wire concrete wall.
 
"We are keeping it up the spirit for now but soon realities will set in. We have lost our job and income" said one girl.
Most Recent 'Crime' Pages
2007-02-08 04:50:12-05  Malaysia Says Troubled Southern Thailand Could Breed Terrorists
2007-02-03 21:54:12-05  Japan, Malaysia and Thailand stage maiden piracy drill
2007-01-03 19:50:02-05  Danish fugitive arrested in Thailand
2006-12-26 22:26:24-05  Calgarian killed in Thailand
2006-12-08 21:47:57-05  Thai Police informant shot dead
2006-12-01 21:20:05-05  4 Buddhists shot dead in Thailand`s restive south
2006-11-17 07:09:50-05  Three bombs wound 22 in Thailand
2006-11-12 04:22:30-05  Two cops killed by insurgents in fresh violence
2006-11-08 22:52:07-05  9 injured in simultaneous bomb attacks in south Thailand
2006-04-01 23:36:21-05  Sofware piracy - friend and foe of the software industry
2003-07-17 17:54:39-04  Major 'dildo'-dealer arrested in Thailand
2003-01-28 13:10:00-05  Bangkok: 60 business illegally bulldozed
2002-12-25 23:51:38-05  Nike, Levi's, Adidas, Reebok... profit from unpaid workers in Asia
2001-09-11 02:28:00-04  NY World Trade Center downed in attack
2001-05-24 08:24:00-04  Money laundering still an Asian Problem
2000-03-25 01:09:00-05  Hacker "Curador" maybe arrested in Wales
 

By using this site you agree to abide to the Terms of Use       © 1996-2002 BizAsia.com All Rights Reservved