Thai minister backs satellite buyback call

BANGKOK, Feb 18 (Reuters) A Thai cabinet minister voiced support today for coup leader Sonthi Boonyaratglin's call for Thailand to take back control of communications satellites sold last year to Singapore's state investment firm.

Thailand would consider various options for buying back the operating licence of ThaiCom satellites that the family of ousted Prime Minister Thaksin Shinawatra sold to Singapore's Temasek, Communications Minister Sitthichai Pookaiyaudom said.

He said no decision had yet been made on whether Thailand would go ahead and regain the satellites, saying any such move would come only after consultations with Prime Minister Surayud Chulanont and other cabinet members.

''As a Thai, I should not have any other opinion. I will brief the media at around 10 am tomorrow (0830 hrs IST tomorow) that will touch on the satellite concession issue,'' Sitthichai told Reuters, referring to army chief General Sonthi's statement on the issue.

Sitthichai later told reporters Thailand would proceed cautiously with any buyback decision to avoid giving the impression that it treated foreign investors unfairly.

Sonthi, who staged the bloodless September. 19 coup, told students and businessmen on Friday he wanted to reverse Singapore's 3.8 billion dollar purchase of Shin Corp. a telecoms giant founded by Thaksin.

Temasek has declined comment on his remarks, but Singapore's foreign ministry issued a statement on Friday seeking clarification from the Thai government.

Sitthichai did not rule out a suggestion made by Thai politicians for the government to raise public funds through bond issues to help pay to buy back the satellite operating rights.

''This is an old suggestion. The ministry has studied the option for quite a while now,'' he told Reuters by phone.

Sonthi, who intensified a row with Singapore last month by saying Thai military phone calls were being monitored in the city state following its takeover of Shin Corp, didn't say how he planned to get the firm's assets back.

Temasek's takeover of Shin Corp, which gave it control of Shin Satellite, Thailand's only satellite firm, prompted charges by Thaksin's critics that his family -- which received 1.9 billion dollar tax free for its controlling stake -- had sold out national security.

Relations between two of the 10 members of the Association of South East Asian Nations were further soured last month when the exiled Thaksin met a Singapore cabinet minister, prompting Bangkok to cancel an invitation to Singapore's foreign minister.

Singapore said Thaksin's meeting was a private one with no political implications.

REUTERS PB PM1241