Thaksin's Daughter Thailand's Richest Stockholder

[george]

PM Thaksin's daughter Thailand's richest stockholder for 2nd year at US$0.5 billion

BANGKOK: -- Pinthongtha Shinawatra, daughter of Prime Minister Thaksin, has retained the title of Thailand's richest stockholder for two consecutive years, with an estimated Bt19 billion (US$475 million) worth of corporate stock in her portfolio.

According to Money and Banking Magazine and lecturers at Chulalongkorn University's Faculty of Commerce and Accounting, Ms. Pinthongtha currently owns 14.6 per cent of the telecommunication giant Shin Corp's stock, worth Bt18 billion, and 28.9 per cent of SC Asset Corp's stock (the property development unit of the family businesses), worth Bt1 billion.

The country's second richest stockholder is Bannapot Damapong, brother of Mr. Thaksin's wife, Khunying Pojaman Shinawatra. Mr. Bannapot owns 13.4 per cent of Shin Corp. stocks, worth Bt16 billion.

Land & House Co president Anant Asavapokhin, who topped the list of the country's 500 richest stockholders in 2002 and 2003, has become the third richest with Bt15 billion in stock in his portfolio.

Panthongthae Shinawatra, only son of the prime minister, ranks fourth on the list with 9.8 per cent of Shin Corp stock, worth Bt12 billion, while Premchai Kannasutra, CEO of ItalianThai Development Corp, ranks fifth with eight billion baht in stocks.

Paethongtharn Shinawatra, remaining daughter of the prime minister, ranks 45th, holding about Bt1billion baht in stock, compared to Khunying Pochaman, Mr. Thaksin's wife, who ranks 397th with only Bt116 million worth of stock.

Yinglak Shinawatra, the prime minister's sister, ranks 62nd with Bt820 million in stock.The Shinawatra family has become the country's richest with a combined Bt33 billion in stocks.

The Asavapokhin family ranks second with Bt17 billion in stocks, the Malinond family ranks third with Bt16 billion, the Damapong family is fourth with Bt16 billion and the Chirathiwat family ranks fifth with Bt15 billion.

--TNA 2005-12-13

[dr_Pat_Pong]

I think I'll try to win the heart of a Shinawatra daughter

[sua yai]

The sin sod may be a bit cost prohibitive.

[dr_Pat_Pong]

It might come down if she's preggers

[cdnvic]

Someone had to knock his maid out of top spot.

cv

[dr_Pat_Pong]

His driver has the big brass now.

[Cheeky Farang]

And they say there is NO corruption in Thailand ( any bets ) ????

[sleepyjohn]

Hey I can't blame the sister for "borrowing" the C130 now! How's a girl supposed to get along with only 820 million baht and the price of lipstick these days? It was after all "Public" transport.

[penzman]

I wouldn't want to be in these people's shoes if the sh*t hits the fan....

[Ricardo]

His money-making skills must run in the family

[chuchok]

I think I'll try to win the heart of a Shinawatra daughter 

<{POST_SNAPBACK}>

Does her dad own a brewery too Doc?

[Tywais]

His money-making skills must run in the family 

I believe they call it nepotism.

[sriracha john]

With the average per capita income in Thailand at US$2,540 per year,

(http://ddp-ext.worldbank.org/ext/CSIDB/getCountryStatInfoXML?id=tha&format=CSIDB)

I'm reminded of the historical phrase, "let them eat cake"

[dr_Pat_Pong]

I think I'll try to win the heart of a Shinawatra daughter 

<{POST_SNAPBACK}>

Does her dad own a brewery too Doc?

<{POST_SNAPBACK}>

Soon will. And Penfolds Wines too. We'll buy it lock, stock and barrel Grange at Barbies

[Vegemite]

I wouldn't want to be in these people's shoes if the sh*t hits the fan....

<{POST_SNAPBACK}>

Do you think it will hit the fan?

Can't get much info apart from the wife via web sites and not many of them.

[johnh101]

And 90% of Thai's don't give a sh1t !!

Almost anywhere else in the world this would kick up hel_l, topple the government, evoke enquiries.............But TIT ! !

[sriracha john]

I wouldn't want to be in these people's shoes if the sh*t hits the fan....

<{POST_SNAPBACK}>

Do you think it will hit the fan?

Can't get much info apart from the wife via web sites and not many of them.

<{POST_SNAPBACK}>

some people think it WILL hit the fan:

Beginning of the end for Thaksin thread

and for further facts and figures on his kids, wife, wife's brother, sister, et al:

Publication Date : 2005-12-14

Thai Prime Minister Thaksin Shinawatra’s college-going daughter Pinthongta has kept a wary eye on the markets and managed to consolidate her position as the nation’s richest stock investor for the second consecutive year.

The Kingdom’s most prosperous student and Thaksin’s second child, Pinthongta saw her wealth increase by Bt1.085 billion (US$26.41 million) from her holdings in Shin Corp and SC Assets Corp.

A survey released by Money & Banking Magazine found that the British-based scholar’s stock holdings are worth a combined Bt19 billion (US$462.54 million).

Her older brother, Panthongtae, was ranked fourth on the top-500 list for the third consecutive year with stocks valued at Bt12 billion (US$292.26 million). Thaksin’s youngest daughter, Paetongtarn, dropped from 28 last year to 45.

The survey found that the Shinawatra family controls the lion’s share of stocks and stays at the top of the list for the second consecutive year with a combined holding of Bt33.2 billion (US$808.67 million), a gain of Bt1.66 billion (US$40.43 million), 5.3 per cent more than last year. The value is based on their holdings in Shin, SC Assets and Vibhavadi Plc.

Thaksin’s wife, Khunying Poja-man, was at the top of the list for three consecutive years from 1996 to 1999 but her ranking dropped to 397 this year from 321 last year with a combined stock value of Bt116.42 million (US$2.84 million), a 22-per-cent drop from the previous year.

Thaksin’s youngest sister, Yingluck, climbed to 62 from 65 last year with assets of Bt820 million (US$19.97 million).

The magazine survey, conducted for the past 11 years with Chulalongkorn University’s Com-merce and Accounting Faculty, showed that Bhanapot Dama-pong, Shin Corp chairman and older brother of Pojaman, was second on the list with stocks worth Bt16.58 billion (US$402.98 million).

The list, released Tuesday (Dec 13), coincided with a report last week that politics-linked business groups enjoyed an enormous increase in business value over the past few years. Highlighted in the academic report were businesses owned by the family of Thaksin, Deputy Thai Rak Thai leader Prayuth Mahagitsiri and Deputy Prime Minister Suriya Jungrungreangkit.

Dr Pasuk Pongpaichit, an economist from Chulalongkorn University, indicated earlier that companies on the Thai stock market with strong political links enjoyed bigger increases in their market value and market shares than those without political links.

She said politically linked companies benefited from tax breaks, reductions in concession fees, restrictions on new entrants, delays in the anti-monopoly law and delays in liberalising certain industries. Only a “tycoon state” could create this kind of lopsided wealth to politically connected firms, Pasuk said.

Democrat MP Kiat Sitthee-amorn said: “The gap between the rich and the poor has widened significantly.

“Statistics show that companies listed on the Stock Exchange of Thailand reported a combined net profit of more than Bt700 billion (US$17 billion) during the past four years, but the income of the average Thai has risen by only Bt600 (US$14.60) per year during the same period.

The figures underline the fact that real income for the majority of people has not risen in proportion to benefits created by the relatively high economic growth during those years.

[stumonster]

all this is just stockholdings in Thailand - it does not take into account other assets held both here and overseas......

[JRinger]

And 90% of Thai's don't give a sh1t !!

Almost anywhere else in the world this would kick up hel_l, topple the government, evoke enquiries.............But TIT ! !

<{POST_SNAPBACK}>

I would say that's a conservative figure.

I asked my wife & the neighbors why they voted for Thaksin in the first place:

The response was unanamous: "He's already rich so we can trust him"

[dr_Pat_Pong]

And 90% of Thai's don't give a sh1t !!

Almost anywhere else in the world this would kick up hel_l, topple the government, evoke enquiries.............But TIT ! !

<{POST_SNAPBACK}>

I would say that's a conservative figure.

I asked my wife & the neighbors why they voted for Thaksin in the first place:

The response was unanamous: "He's already rich so we can trust him"

<{POST_SNAPBACK}>

Super Rich ... in 5 years from the beginning. Honestly ? LOL

[britmaveric]

Is this the KFC daughter?

[steveromagnino]

Is this the KFC daughter? 

<{POST_SNAPBACK}>

I think it was McDonalds daughter, and that was the one that looks exactly like him, Ong Ing I think....

[Heng]

Transferring assets to your children and spouse is nothing out of the ordinary. If everyone in the 20% of the population that controls 80% of the economy had to have their assets publicly listed, then you'd fine similar patterns. Granted, if most of your contact is with the other 80% of the population, 'inheritance' and 'legacy' are probably, for better or worse, alien concepts.

[britmaveric]

Is this the KFC daughter? 

<{POST_SNAPBACK}>

I think it was McDonalds daughter, and that was the one that looks exactly like him, Ong Ing I think....

<{POST_SNAPBACK}>

She's done well for herself....

[The_Other_Mac]

Off the top of my head, Thaksin was personally valued at something like USD 1.3 billion (call it 50 billion baht) a few years back. Now it's 33 billion for the whole extended family. Somehow, I don't think they've been losing money. Interesting to see the proportion held in Thai stocks though.

As for the rest of the world, I don't exactly see the slums of LA marching on Beverly Hills. There are plenty of other billionaires out there, spread across all nations.

[Clip_My_Wings]

Is this the KFC daughter? 

<{POST_SNAPBACK}>

I think it was McDonalds daughter, and that was the one that looks exactly like him, Ong Ing I think....

<{POST_SNAPBACK}>

so the extra 28 baht and hour earnt would have come in really useful as insurance in case her stock fell in value ...

does anyone know if she's still working down there? must have prgressed to at least five stars seeing as she probably has good contacts

[sonthaya]

Is this the KFC daughter? 

<{POST_SNAPBACK}>

I think it was McDonalds daughter, and that was the one that looks exactly like him, Ong Ing I think....

<{POST_SNAPBACK}>

She's done well for herself....

<{POST_SNAPBACK}>

Better than well, I don't like the smell of it,or rather stink of it

[sriracha john]

Transferring assets to your children and spouse is nothing out of the ordinary.  If everyone in the 20% of the population that controls 80% of the economy had to have their assets publicly listed, then you'd fine similar patterns.    Granted, if most of your contact is with the other 80% of the population, 'inheritance' and 'legacy' are probably, for better or worse, alien concepts.

<{POST_SNAPBACK}>

No more alien of a concept than the phrase "blind trust" means in the Thai

political-financial world.

All these billions the PM "gave-away-but-still-actually-controls" to his maids and gardeners and subsequently to his barely legal-aged kids raises questions to Westerners controlling the world stock markets because of the above phrase.

[sriracha john]

Is this the KFC daughter? 

<{POST_SNAPBACK}>

sorry, but no... on both counts...

Crash course in "thaksinomics" and stockholding rankings

Panthongtae (#4), Potjaman (#397, but #1 from 1996-1999), Elmer Fudd, Pinthongtha (#1), Paethongtarn (#45 and ex-McDonald's employee)

but also... don't forget... in any discussion of his family, Daddy can get quite emotional, so lets not be TOO harsh on any of them. Also, regarding her length of service to the Golden Arches...it was slightly less than 30 days (so I don't believe she'll be drawing any retirement benefits):

BANGKOK, April 30, 2004 (AFP) - Thai Prime Minister Thaksin Shinawatra made a tearful appeal Friday for his daughter Paethongtharn's privacy to be respected after she was rejected from a prominent university under controversial circumstances.

Paetongtarn was thrust into the media spotlight earlier this month when she took a job at a Bangkok McDonald's restaurant for one month on her father's advice.

[torgate]

she learnt buisness and economic strategy fast at that university.