OPINION

Let's see action

Re: "On the wrong track", (PostBag, Feb 3).

I must agree wholeheartedly with the views of Saligne arguing that "Before investing in expensive high-speed rail, Thailand should use a dependable, safe, moderately fast and reliable standard rail network".

The simple fact is that today's development is tomorrow's maintenance, and roads, public transport, luxury hotels, condominiums, etc, are constructed and opened to a fanfare of wonderful achievement and advancement, while they very soon fall into disrepair and in need of massive investment just to be restored to their former glory, or something approximating to it.

Sadly, maintaining infrastructure does not attract the photo-opportunities and plaudits for government officials or business personnel that building new, expensive projects always seems to attract.

One step forward and, in time, three steps backward is what we see all around us, and not just in Thailand; the USA and the UK, for example, are also suffering from the serious deterioration of yesterday's capital spending on new developments.

Re: "Dissent is not a crime", (Editorial, Feb 4).

As the government increasingly moves to squash even a whisper of dissent or discontent among the Thai public at large, there is something I do not understand.

Every day the Bangkok Post publishes new items, editorials, columns, opinion pieces and letters to the PostBag column highly critical of the government. I cannot recall lately reading one good word you have had to say about it.

How do you get away with it?

Don't get me wrong, I fully support your reporting and opinion pieces as the right of a free media and free speech.

But does your editor, Umesh Pandey, sleep fitfully at night, waiting for that ominous knock on the door?

Another thing.

I am sure you have editorial conferences to plan the next edition of the Post and these are attended by more than four people, so how come the Post is not charged with illegal gatherings?

Do you have a response?

PTT Plc and the Electricity Generating Authority of Thailand (Egat) make unholy bedfellows from the perspective of Thai national benefit.

PTT is making huge long-term investments in oil and gas, from exploration to power plant development, and all the while the energy minister claims their venture with Egat will increase efficiencies and energy security.

This myopic strategy is solely aimed at preventing solar energy producers from gaining a foothold in Thailand.

A new energy minister is urgently needed.

Fossils need not apply.

Re: "Fair shares", (PostBag, Feb 3).

I must make a correction to my letter which said the Bualuang Securities (BLS) offered the "Office Leasehold Fund". In fact, it was BBLAM (BBL Asset Management Co) which offered these new REIT units, not Bualuang Securities. Yet, many rightly so regard BBL Bank, BBLAM and Bualuang as the same group of companies.

The SET does now list this fund as a new REIT IPO, but did not just before the offering as is the norm.

The real contentious issue which nobody seems to write about is the fast dropping off of individual investors in the SET. Participation in these in recent times is now below 50% of total trading volume versus often over 75% in years passed.

In any other industry, management would get fired enduring such a market share drop.

This is an alarming trend because it means small and medium sized listed firms get bypassed, as institutions rarely invest in these.

This segment of smaller firms makes up some 75% of Thai GDP.

But nobody seems to care nor address this?

Contact: Bangkok Post Building 136 Na Ranong Road Klong Toey, Bangkok 10110 fax: +02 6164000 Email:

postbag@bangkokpost.co.th

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