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BROADCASTING
WORANUJ MANEERUNGSEE
Shareholders of MCOT Plc finally endorsed the appointment of five new directors backed by the broadcaster's major shareholder, the Finance Ministry, at an extraordinary meeting yesterday.
Minority shareholders, who had opposed the appointments at the previous shareholders' meeting in April, reasserted their objections yesterday. Some of them, including Pichien Amnajvaraprasert, who has worked in broadcasting, threatened to lodge a complaint against MCOT directors at the Administrative Court.
The minority shareholders complained in April that the nominees were being pushed by the government and could interfere in the business of the Channel 9 television operator. They also said the picks were made hastily and shareholders were not given advance notice.
The Samak Sundaravej government has been under fire from several quarters for allegedly meddling in media affairs.
The new MCOT directors are: Thongtong Chandrangsu, deputy permanent secretary of the Justice Ministry; veteran journalist Narunart Phrapanya; media consultant Prasan Wangratanapranee; former Labour Ministry permanent secretary Charupong Ruangsuwan; and media and entertainment expert Pramote Chokesirikulcha.
The most contentious appointment is that of Mr Charupong, who is the father of an adviser to former PM's Office minister Jakrapob Penkair, who resigned last month to face lese majeste charges.
Each director won votes representing 579 million shares, equivalent to 98.6% of all shares.
MCOT now has a full slate of directors to help move it forward smoothly, said Anusorn Tamajai, a new director appointed in the previous shareholders' meeting.
''There were only seven of us [before]. If one was absent, there was no quorum and we could not hold a meeting,'' said Dr Anusorn, an economist and rector of Rangsit University.
Dissident shareholders also questioned a transaction involving a 50-rai land plot worth about 1.5 billion baht now. MCOT bought the land in the Ratchadaphisek area when the broadcaster was headed by Mingkwan Sangsuwan, who is now the Commerce Minister.
They said MCOT did not utilise that land and it had become a burden.
Wasan Paileeklee, the current president, said MCOT planned to develop the land, possibly as an entertainment complex.
MCOT shares closed yesterday on the Stock Exchange of Thailand at 25.25 baht, down 25 satang, in trade worth 3.62 million baht.
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