Who loses in Map Ta Phut

Bangkok Pundit has researched how much Crown Property Bureau loses from the hold-up of projects in Map Ta Phut. He said on 05/12/09 Crown Property Bureau onwed 30% of Siam Cement.

Siam Cement had said in a statement on 02/12/09 that 18 of the 65 stalled projects were being developed by its chemicals unit and were valued at 57.5 billion baht. Some were ready to start production.

Bangkok Pundit estimated that since the court decision Siam Cement stock price was down 7.2%, which meant Crown Property Bureau’s holdings were worth 84.6 billion baht before the decision and were now worth 78.5 billion baht – a drop of 5.9 billion baht or US$184 million.