"Kafoo: Waiting for Happiness" was playing there at the time: a Japanese romance, the name of which said enough for me to steer clear. Little did I know that I'd just opted out of my last chance to watch a movie in the Siam, only to dip below my standards and catch one at SF World Cinema, atop Central World Plaza instead. The movie, Werner Herzog's "Bad Lieutenant," turned out to be the best movie I saw on the big screen all last year. But the venue couldn't hold a candle to the Siam Theater.
Yesterday, May 19th, 2010, both the Siam Theater and Central World Plaza shopping mall were torched by "Red Shirt" protesters, following a violent crackdown by the Thai military. The Siam Theater was one of the last great stand-alone theaters in Thailand.
Wise Kwai has dedicated an entire post to it over on his Bangkok Cinema Scene site. You can find further write-ups at the Bangkok Post and Nation web-sites, as well.