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ARTICLES > FTA as Public Wealth in ASX Transfer into Top Management’s Gain in Thailand - 16 Jan 2008

FTA as Public Wealth in ASX Transfer into Top Management’s Gain in Thailand - 16 Jan 2008

จดหมายดั้งเดิม ----------------------------- หัวข้อ: A Cry for Help and Investigation from a Thai working in BORAL (THAILAND) under Boral Limited (BLD-ASX) จาก: paul.tinio@grads.nida.ac.th วันที่: Thu, 17 มกราคม,2008 2:27 am ถึง: letters@theaustralian.com.au rod.pearse@boral.com.au austembassy.bangkok@dfat.gov.au info@thaiembassy.org.au bandhits@thaiembassy.org.au สำเนาถึง: chris.mitchell@theaustralian.com.au paul.whittaker@theaustralian.com.au nick.cater@theaustralian.com.au deborah.jones@theaustralian.com.au premchai@lox1.loxinfo.co.th

His Excellency, Mr.William Paterson - the Ambassador of Australia to Thailand

His Excellency, Mr. Bandhit Sotipalalit - the Ambassador of the Royal Thai Embassy in Australia

Mr.Road Pearse - Boral Limited - CEO & Managing Director

and All Executives in THE AUSTRALIAN newspaper namely,

Editor-in-Chief: Chris Mitchell Editor: Paul Whittaker Editor (Weekend): Nick Cater Executive Editor: Deborah Jones

Cc: Khun Premchai Karnasuta - The President of Italian-Thai Development Public Company Limited

Jan 17, 2008 - 1:48 - 2:25 AM +7:00GMT

RE: 2nd Letter "FAIR CALL" from an innocent Thai working for an Australian company - BORAL (THAILAND) in Bangkok, Thailand.

This is 2nd letter of FAIR CALL asking for fairness of a Thai representing 1,300 Thai employees working under Boral (Thailand) who took over Hanson in 2004 to enter Thai Building Construction Material Market.

My name is Nirandorn Akrapitak, or Paul - as a member in management team under title of General Manager - Projects, starting on 15 OCT 2006 - departing from Italian - Thai Development Public Company Limited by a headhunter company assigned by Boral (Thailand), a largest contractor&investor company in Thailand.

This is an attempt to get fairness for ALL thai employees who have no faults and nothing to do with unfavourable financial results - which in my own opinion - stemmed from MISMANAGEMENT OF AUSTRALIAN MANAGEMENT TEAM led by Mr. Andrew Mercer - The MD who took over the leading position and made all business decisions, and is now still the current MD in-charge of reorganisation - among others, which in my opinion, post threats to Australian-Thai relationship, with more than 5,000 family members at risk - if mismanaged again.

The current accusation of Thais Management stemmed from Mr.Andrew Mercer decision to over-invest during downturn which happened just after the acquisition, and with himself and his team lack of economic situation understanding and lack of proper Sydney’s Financial Audits resulting in declining business result after 1st year of the acquisition although he claimed we constantly grow for 3 1/2 year with only 6 months loss.

To cover his failure in managing Thailand business, especially his denial all along to listen to Thais management, including myself since joined in 2006, he elected to manipulate financial data, and stopped Thais management in direct contact with Sydney office. This also led to possibility of financial fraud - taking that Sydney now is aware of Lost of cement - possibly due to mismanagement or fraud as well.

Instead of showing his appreciation in bringing more sales to the company during this overly-invested time with no efficiency improvement, he yesterday announced and threatened at least 20-30 Thais altogether of his new structure including promotion of people involved in Fraud, and demotion of people in bringing more sales to the company. This is to cover and SILENCED us who are innocent by showing his tyranny.

I have started a FAIR CALL process with Boral Limited but so far has gone nowhere.

I beg and I can testify for my innocence, and can testify for guilts of Mismanagement of Australian Team.

I beg of competent financial and experienced - fair management audits be assigned. Mike Taylor, one of the Financial Executives in Sydney of Cement Division has resigned conspicuously after I wrote first FAIR CALL letter to Rod Pearse, Ken Barton, and Craig Curtis citing abnormality in accounting method of GOODWILL-VS-No Goodwill (see file attached).

Please help us Thais to work in our country fairly, under a fair management - whether Thais or Australians - but with the one who we fully accepted and respected.

Please do not cover fault by throwing guilt to innocent Thais, and let tyrant Thais & Austalians rule our kingdom. I have many witnesses -eyes and ears- who can testify of how Mr.Andrew Mercer has constantly looked down on our revered Monarchy and Kingdom.

I hereby attached the first letter of fair call, and hope we can get fairness of being Thai national working for Australian company in Thailand.

I am ready to speak with anyone anywhere. Please stop all changes Andrew made so fair investigation process can continue without manipulation.

Please call me.

Nirandorn Akrapitak (Paul) GM-Projects +662 728 8800 ext. 600 +6685 918 3176 local 085 918 3176

Corporate Email: nirandorn.akrapitak@concrete.co.th


จดหมายดั้งเดิม ----------------------------- หัวข้อ: FW: Petition for Fairness in Boral Thailand จาก: "Nirandorn Akrapitak" วันที่: Wed, 9 มกราคม,2008 1:33 am ถึง: "paul.tinio@grads.nida.ac.th" --------------------------------------------------------------------------
From: Nirandorn Akrapitak Sent: Wednesday, January 09, 2008 1:30 AM To: rod.pearse@boral.com.au; pearse.rod@boral.com.au Cc: town.robin@boral.com.au; barton.ken@boral.com.au; ken.barton@boral.com.au; craig.curtis@boral.com.au; curtis.craig@boral.com.au; robin.town@boral.com.au Subject: Petition for Fairness in Boral Thailand

January 9, 2008

RE: A REQUEST FOR THOROUGH INVESTIGATION ON CORPORATE GOVERNANCE AND MANAGEMENT COMPETENCY IN BORAL THAILAND

TO: Mr. Rod Pearse Mr. Ken Barton Mr.Robin Town

From: Nirandorn T.Akrapitak (Paul)

This is my first letter to you all, the executives of Boral Limited, an ASX registered company, and I am not sure if this could be the last. This is a cry for help, a cry for fairness from a local Thai management named Nirandorn Tinio Akrapitak or Paul - if this email was not screeened by local IT and purged out the system. This email was written with careful consideration after a series of ongoing, in my opinion, mismanagement and incompetency of our MD-Mr.Andrew Mercer- resulting in unfavourable business condition in Boral Concrete (thailand), Boral Quarry (Thailand), MJI holding, and Rajaburi Enterprise.

By writing this letter, I took a great risk on my career, one that I built for quite some time in multi-national corporations in different countries including USA, China, and Vietnam before joining Boral Thailand 14 months earlier.

I beg that a thorough investigation not only from competent accounting audits, but technical and professional management audits be carried out without interference from current manipulation. Although Thailand is still a developing nation, we have a handful of competent and experienced management who could fulfill the role, yet represent your Australian national - which could also be used as competitive edge over other competitors.

I beg that an open communication be established between employees in Asian business and Australia, and we can speak, or write on our freewill, not by someone’s order.

I beg that we Thais can be proud working for BORAL, instead of being ashamed when customers mentioned our company name, and in some instances our boss name.

Please help us, to help you, to perform and grow in the Kingdom of Thailand where we were born and lived, and we have no intention to leave.

Notwithstanding known cement fraud audits and some unknown embezzlement, a lot more Thai employees, many are employed more than 10-yr prior to Boral ownership, will be more than happy to testify for any doubts or investigation of yours. It is my regret that many of loyal ones had retired due to unnecessary pressure and joined our competitors as they misunderstood that tyranny is acceptable norms in Boral.

I beg you all fairness, Paul T.Akrapitak GM-Projects Boral Thailand Concrete & Quarries Ltd. +66 2 728 8800 ext. 600 +6685 918 3176