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Minister raises ethical concerns of private schools listing on the SET

The Thaiger & The Nation

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Minister raises ethical concerns of private schools listing on the SET | The Thaiger

PHOTO: Singapore International School of Bangkok

Trading in the shares of SISB Company Limited, the manager of the Singapore International School, begins today in the SET’s (Stock Exchange of Thailand) Market for Alternative Investment.

The Education Minister Teerakiat Jareonsettasin says that although the move does not violate the Private School Act 2007, there was a question of ethics.

The Minister has assigned a legal team to look up laws and regulations in a bid to stop SISB from becoming the first education business to list on the Stock Exchange of Thailand (SET), believing it will set an unethical milestone.

The minister said in his personal view an educational institute gets a tax waiver so its move to raise funds to obtain more profits without paying tax raises the question of ethics.

“The act of entering the SET is obviously to seek more profits. If this is what’s happening, should the Finance Ministry start to collect tax? This can have a widespread impact and the related law must be reviewed.

“Even if the move is legal, it still might be unethical and against the ideology of the country’s educational management,” he said.

Teerakiat said he had discussed this with the International Schools Association of Thailand, seeking its help to find a solution. He said he would consult the Securities and Exchange Commission (SEC) for clarity and, if such move were seen as a way to make profit from the education business, he would discuss with the Finance Ministry about levying tax.

Teerakiat admitted that his attempt to stop SISB from listing on the SET might not yield immediate result, but he would do his utmost to block such a move or others may also follow suit.

The Office of the Private Education Commission (OPEC) secretary-general, Chalam Attham, meanwhile, said his office would ask the SEC to review its decision to list SISB on the SET. He said Article 22 of the Private Schools Act 2007 had set two conditions for companies running schools in regard to the number of shares and the stockholders.

He said the OPEC is willing to offer the information for the SEC’s consideration.

SEC secretary-general Rapee Sucharitakul earlier yesterday affirmed that it was not illegal for SISB to register with SET, as the OPEC, which is in charge of private schools, had told his agency before it approved SISB’s listing that there was no regulation to prohibit the move.

Rapee said all businesses – including the private school business – required investments for improvement hence they have to raise funds in some way. Listing on the SET to raise funds from the public was a method with low cost, he said.

“Whether the school will then charge high tuition fees will be a question that the supervising agency will have to deal with,” Rapee added.

The campuses, adopting Singaporean and British curricula, currently have 2,274 students in total.

Minister raises ethical concerns of private schools listing on the SET | News by The Thaiger

SOURCE: The Nation



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Bangkok

17 year old student arrested for running porn site

The Thaiger & The Nation

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17 year old student arrested for running porn site | The Thaiger

PHOTO: The Nation

A young male university student has been arrested over charges of running a pornographic photo website in which paid members were given access to some 300,000 pictures of net idols and other celebrities.

Using VK, Line and Facebok the 17 year old (name withheld due to age) uploaded the pictures to the “Kodwarp” page which could then be accessed by users who paid a membership free.

Police arrived at his Bangkok home in Phra Nakhon district on December 11 and seized over 860 GB (roughly 300,000) images of adult content from his desktop and mobile phone.

The arrest was carried out by the Police Children and Women Protection Subdivision, who claim that the student confessed to having collected the explicit material from other websites.

The minor detailed how his free-access public pages and groups have over 30,000 followers, as well as having a separate ‘VIP’ group with over 1,000 paying members. He had been involved in the operation for over 3 months and managed to save over 500,000 baht, while also buying brand-name goods with his profits.

Pol Col Kirakit Juranapat, a superintendent for the subdivision, also shared stories about how the victims of the material in question have suffered from depression, stress, and some even tried to take their own life.

An investigation is now underway trying to find those responsible for taking the pictures and trace the ‘members’.

17 year old student arrested for running porn site | News by The Thaiger

STORY: The Nation

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Bangkok

Assets valued at 39 million baht seized in Magic Skin case

The Thaiger & The Nation

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Assets valued at 39 million baht seized in Magic Skin case | The Thaiger

And there’s more to come, according to investigators…

The AMLO (Anti-Money Laundering Office) seized 19 million baht cash and two luxury cars in the ‘Magic Skin’ scandal. The seizure was ordered after they allegedly supplied sub-standard cosmetics and weight- loss products. The AMLO have also seized two luxury cars worth 10 million baht each.

A spokesperson for the AMLO says that the case is ongoing and past customer’s complaints would not be withdrawn, as some had feared.

He said the case would proceed and more ill-gotten assets would be confiscated. Authorities would soon file a false advertising charge against 50 celebrities who allegedly promoted products for Magic Skin.

Preecha also said that the victims nationwide could present their evidence of damage to the AMLO to request a share of the seized assets.

He said such requests could be submitted now or within 30 days after an announcement on the matter is published in the Royal Gazette.

Authorities are now checking claims that Magic Skin associates continued to use nominees in producing and distributing products, which they claim is an act of fraud.

The popular Magic Skin products remain under a cloud over reports earlier this year that the brand manufactured substandard cosmetics and boosted their profile by hiring celebrities to endorse them.

Police discovered that nearly 1,000 people were affected by the alleged substandard products, which caused damages valued around 300 million baht.

Charges have now been laid against Magic Skin owner Wannapha Puangson and her husband Korn Puangson, as well as other business associates. The charges include conspiring to produce and distribute products in violation of the Cosmetics Act and Food Act.

STORY: The Nation

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Bangkok

Samut Prakan zoo denies mistreatment of elephant

The Thaiger & The Nation

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Samut Prakan zoo denies mistreatment of elephant | The Thaiger

by Suthinan Kongsin

The Samut Prakan Livestock Development Office have inspected Samut Prakan Crocodile Farm and Zoo after media reports and photos on social media revealed a thin elephant performing tricks for tourists.

“I’ve been visiting the zoo for a long time because I like to look at the animals. But when I visited last week I was upset when I saw one of the elephants. The elephant looked so thin and weak. I felt so sorry. I think he needs help.” – Trip Advisor

Read The Thaiger report about the tourists’ grievances HERE.

Visitors were also critical about the crocodile farm’s care. The Manager, Uthen Yangprapakorn, insisted all the animals there were fed well.

Uthen told reporters that his horses were 15 years old and some of the crocodiles lived to 80.

“If we hadn’t taken care of them well, they wouldn’t live this long,” he said.

“The place is poorly maintained – a lot of the facilities are run down and look like it hasn’t been upgraded in a long time.” – Trip Advisor

Uthen said the farm had conducted annual health checks on all its five elephants on December 4. He said the elephant was on a diet to prevent it from becoming fat. Elephants with high body fat were more prone to being in the mating season and often become more aggressive, Uthen said.

Samut Prakan zoo denies mistreatment of elephant | News by The Thaiger Samut Prakan zoo denies mistreatment of elephant | News by The Thaiger

Photos from distressed visitors to the Zoo, posted on Trip Advisor

SOURCE: The Nation

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December 14, 2018, 3:42 am
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