The Singapore state investment company that bought control of Thailand's Shin from its prime minister and his family earlier this year said it is watching developments after he was ousted by a military coup and that it was premature to worry about any impact on the business transaction.
'It's a matter for the Thai people to resolve,' Myrna Thomas, Temasek Holding's managing director for corporate affairs, said of the bloodless coup that ousted Prime Minister Thaksin Shinawatra while he was in New York City for the UN General Assembly.
Thai army commander Gen. Sondhi Boonyaratkalin declared martial law and revoked the constitution.
Asked whether there would be moves to confiscate Thaksin's vast assets, he told a news conference that 'those who have committed wrongdoings have to be prosecuted according to the law.'
Thaksin faced months of calls for his resignation over allegations of corruption and abuse of power.
The opposition gained momentum in January when his family announced it had sold its 49.6% controlling stake in telecommunications company Shin to Temasek Holdings for a tax-free $1.9 billion.
Critics allege the sale involved insider trading and complain a key national asset is now in foreign hands.
Temasek said in a statement that it had complied with Thailand 's laws and was 'fully cooperating' with the Commerce Ministry.
A spokesman said the company was not worried about the coup's effect on the deal.