"I will explain all when it is time. I won't hide anything," Thaksin told reporters amid growing scrutiny of the sale of his family's stake in telecoms firm Shin Corp to a group led by Singapore's Temasek Holdings last week.

Much of the growing furore has revolved around a company called Ample Rich Investment Ltd, which Thai newspapers say is registered in the British Virgin Islands.

According to a filing with the regulatory Securities and Exchange Commission, Ample Rich sold 329.2 million shares in Shin Corp to Thaksin's daughter Pintongta and son Phantongtae, on Jan 20 at 1 baht per share.

Those shares were sold for a large profit on Jan 23 when the Shinawatra and related Damapong families offloaded their 49.6 percent stake in Shin Corp at 49.25 baht per share.

The opposition Democrat Party pressed Thaksin to explain how the Shinawatras were connected to Ample Rich.

"If Thaksin denies any relationship with the company, his family will have to face criminal offences for insider trading," Democrat Party executive Sirichok Sopa was quoted as saying in the Nation newspaper.

"But if there is a legal relationship, it means the Prime Minister must face charges of asset concealment," he said, referring to the legal requirement for politicians to disclose all their assets before taking office.

In August 2001, shortly after he became prime minister, Thaksin was cleared of allegations he deliberately concealed millions of dollars in share transfers to his staff, including a maid, security guard and chauffeur.

Thaksin denied any wrongdoing, saying he had made an "honest mistake".

Asked by reporters on Monday whether he owned Ample Rich, Thaksin said: "Take it easy and I will explain that to you. Everything is legally correct."

Thaksin's children became major shareholders of Shin Corp after their father entered politics and transferred his shares to family and associates.

The SEC said in a statement it had given Pintongta and Phantongtae seven days to clarify who owned Ample Rich and how and when they got involved with the company.

Thailand's stock exchange said last week a preliminary investigation had found no evidence of insider trading in Shin Corp shares, which had risen sharply in the run up to the $1.87 billion stake sale.

Neverthless, the controversy has made investors nervous.

Thai stocks fell 3.63 points on Monday after a newspaper said civic groups planned to petition a Thai court against the Shin Corp share sale.

"The Shin Corp share sale triggered concerns among investors about political uncertainties," said TISCO Securities analyst Viwat Techapoonpol.

(Reporting by Trirat Puttajanyawong and Orathai Sriring)

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