Thaksin Buys 27 Million Dollar Hong Kong House

[george]

Thaksin buys 27 million dollar Hong Kong house

HONG KONG: -- Thaksin Shinawatra, the former Thai prime minister ousted in last year's coup, has bought a 27 million US dollar luxury house in Hong Kong, The Standard newspaper reported Wednesday.

The sale of the luxury townhouse on Hong Kong's prestigious Victoria Peak raised eyebrows earlier this year because the 210 million Hong Kong dollar price tag made it Asia's most expensive property per square foot.

The high price surprised many because the 5,100 square foot (475 square metre) property is attached to other houses in the same development, making it less desirable than a detached property.

The house boasts panoramic views over Hong Kong's famous harbour, its own swimming pool and a state-of-the-art security system.

The identity of the buyer was not revealed at the time of the sale, with local media describing the new owner only as a businessman.

But The Standard said a source close to the deal had identified the mystery purchaser as the former Thai premier and self-made billionaire.

Thaksin has been in exile since the September 2006 coup, and has divided his time between London, where he has a home, and Asia. He was recently spotted shopping with his wife in Hong Kong.

Thai authorities recently froze 1.5 billion dollars of his assets, although the order only affected banks in Thailand, and Thaksin's overseas assets are largely unknown.

Thaksin's lawyer said recently that the deposed premier was thinking about returning to Thailand for the first time since the September 2006 coup to fight corruption charges against him.

--AFP 2007-06-13

[JR Texas]

JR Texas: Corrupt to the core.........not one thought about any other person other than himself.......highly destructive to the Thai economy..........rich beyond imagination................what a world!

You have to give him credit (bad credit). He knows how to manipulate people with great skill........and he has the big house on the hill (fantastic view from up there) and his money all tucked away in secure banks in the Cook Islands, Panama, hong Kong, Singapore, Switzerland, Austria, etc.

Crazy world we are living in..............those that act irresponsibly to present and future generations are rewarded with massive wealth and power.

Do you think he will invite me over for lunch?

[tijnebijn]

Suddenly the name Marcos ,the former billionaire ex preident from the Phillies comes to mind

[Scott]

And, if I recall correctly, a huge chunk of that money was his long before he became PM. It would be very interesting to find out how many very rich people there are in Thailand who earned their money legally.

[bino]

the 5,100 square foot (475 square metre) property is attached to other houses in the same development

I wonder who his new neighbors are? They are probably not too pleased, and grumbling "There goes the neighborhood" or words to that effect (or nastier!)

[CNXagent]

And no prize for guessing whose's name the house is registered under??

Maybe his new HongKong chef ??

[lannarebirth]

There's always another facet to these stories. A friend of mine was called in to do some interior design work on a house Thaksins sister bought up here in Chiang Mai. She payed $25 million for it, but it clearly wasn't worth a satang over 5 million. It seems the seller was able to help the buyer in another financial scheme and the house was bought as a way to pay them. After calling in all the correct Feng Shui masters she flipped it to someone else for an even higher price as they wanted to buy her influence. That's how things work here.

[thai_narak]

Suddenly the name Marcos ,the former billionaire ex preident from the Phillies comes to mind

Thaksin is a modern day Marcos but an improved one, a new model, newly released, high end, 15 megapixel (even more), much better than the previous politicians turned billionaire in the past.

[thai_narak]

And, if I recall correctly, a huge chunk of that money was his long before he became PM. It would be very interesting to find out how many very rich people there are in Thailand who earned their money legally.

No... Thaksin is one of the "have not" business man just 25 years ago or so. Based from what Thais have told me, he was a son of a politician in Chiangmai. Anyway, he got his way to entering the Thai police force and founded a computer business the same time and ending up supplying all the computer supplies of the Police force all over the country. That's sounds great huh? no bidding in this arena? of course they have but Thaksin can manage to monopolise the business. Guess what? corruption... He finally got the satellite concession (by corruption as well - bribery and using his father's associates and poilitician friends) when he was already in the limelight and founded AIS, and other businesses afterwards. Now, is this a clean businessman?

[hammered]

And, if I recall correctly, a huge chunk of that money was his long before he became PM. It would be very interesting to find out how many very rich people there are in Thailand who earned their money legally.

No... Thaksin is one of the "have not" business man just 25 years ago or so. Based from what Thais have told me, he was a son of a politician in Chiangmai. Anyway, he got his way to entering the Thai police force and founded a computer business the same time and ending up supplying all the computer supplies of the Police force all over the country. That's sounds great huh? no bidding in this arena? of course they have but Thaksin can manage to monopolise the business. Guess what? corruption... He finally got the satellite concession (by corruption as well - bribery and using his father's associates and poilitician friends) when he was already in the limelight and founded AIS, and other businesses afterwards. Now, is this a clean businessman?

You should also add in his marriage into an elite family and look at who and what this family had connections to to fully understand the rise of Mr. Thaksin. A now deceased powerful Northern politician is also often stated to have helped out in the rise. I think it was communication devices rather than computers that he started with too.

[Aujuba]

lanna I hope you mean 25 million baht rather than dollars cause that would have to be the most expensive house in Thailand.

Thaksin is going home. The only problem is he won't have too many friends over there who speak Thai unless the 110 TRT guys with nothing to do for the next five years go join him. Does he speak Chinese? There must be more flights between the UK and Hong Kong than there are than other place around here. It will be easy for him to come to Thailand and to visit all his British friends. I'm so glad that he doesn't seem interested in the US! There must be some financial reasons for him avoiding the US. It could have to do with his old partner or some tax reason.

[thai_narak]

And, if I recall correctly, a huge chunk of that money was his long before he became PM. It would be very interesting to find out how many very rich people there are in Thailand who earned their money legally.

No... Thaksin is one of the "have not" business man just 25 years ago or so. Based from what Thais have told me, he was a son of a politician in Chiangmai. Anyway, he got his way to entering the Thai police force and founded a computer business the same time and ending up supplying all the computer supplies of the Police force all over the country. That's sounds great huh? no bidding in this arena? of course they have but Thaksin can manage to monopolise the business. Guess what? corruption... He finally got the satellite concession (by corruption as well - bribery and using his father's associates and poilitician friends) when he was already in the limelight and founded AIS, and other businesses afterwards. Now, is this a clean businessman?

You should also add in his marriage into an elite family and look at who and what this family had connections to to fully understand the rise of Mr. Thaksin. A now deceased powerful Northern politician is also often stated to have helped out in the rise. I think it was communication devices rather than computers that he started with too.

It was computer at first as I mentioned. He also had failed businesses like theather (cinema) and other stuff and also got himself burried in debts during that era. However, after the satellite bid which he (they) won, which he also finance by borrowing money (loan), he rose up and was able to start AIS, Real state, and other businesses.

You are right about the Marriage...

[Mid]

not even a house ,

but an apartment . ( common wall )

astute commerce there ...............................

[jayjayjayjay]

And, if I recall correctly, a huge chunk of that money was his long before he became PM. It would be very interesting to find out how many very rich people there are in Thailand who earned their money legally.

I would never say it was all squeeky clean, but he played under the same rules as every other Thai company in the last 20yrs, so good on him.. certainly a lot of jealous forum members out there! Now, has someone got his daughters mobile number

[Scott]

This isn't a jab at the anti-Thaksin group, but I would find it interesting to see a list of some people in Thailand who made their money or gained influence honestly. In my time here, I've just not come across any--at least not ones that have gotten very far. (I might add that this isn't a situation that is unique to Thailand--but it certainly seems to be more consistent here than a lot of places).

[wintermute]

This isn't a jab at the anti-Thaksin group, but I would find it interesting to see a list of some people in Thailand who made their money or gained influence honestly. In my time here, I've just not come across any--at least not ones that have gotten very far. (I might add that this isn't a situation that is unique to Thailand--but it certainly seems to be more consistent here than a lot of places).

A list of honest businessmen in Thailand? It would be the shortest list in the world. People gain power and influence through family connections and power plays here. An honest to god, salt of the earth, self made man is a very rare thing in Thailand. Usually those people get squashed by the establishment as soon as they make waves.

[The Skipper]

He was mega-rich, long before becoming Prime Minister.

Good connections, smart businessman, right place at the right time.

People that say he stole his way to the top don't know what they are talking about.

In 2003, Thai stocks were the world’s best performing, increasing 133 percent.

Thaksin and ANYBODY else heavily invested at that time doubled their money.

Has he been involved in immoral/shady activities? Of course. Is there a single public servent not exploiting their position?

Edited June 13, 2007 by The Skipper

[Mid]

People that say he stole his way to the top don't know what they are talking about.

Thaksin to stand trial for perjury on Sept 18

Court says no need for criminal trial to wait until appeals in civil suit end

The Southern Bang-kok Criminal Court yesterday scheduled a September 18 trial date for a lawsuit filed by an American businessman against caretaker Prime Minister Thaksin Shinawatra over their cable television business venture that dates back to the late 1980s.

[pnustedt]

JR Texas: Corrupt to the core.........not one thought about any other person other than himself.......highly destructive to the Thai economy..........rich beyond imagination................what a world!

You have to give him credit (bad credit). He knows how to manipulate people with great skill........and he has the big house on the hill (fantastic view from up there) and his money all tucked away in secure banks in the Cook Islands, Panama, hong Kong, Singapore, Switzerland, Austria, etc.

Crazy world we are living in..............those that act irresponsibly to present and future generations are rewarded with massive wealth and power.

Do you think he will invite me over for lunch?

This post is complete nonsense!

The Thai economy prospered during the Thaksin era - and so did those who invested in it (myself included).

If the house (or apartment) that he has purchased is in Victoria Park it is not "up there" but at sea levelor maybe on "The Peak" as HK residents call it. The HK property market is booming at the moment so this property may well prove to be a wise investment. He would also be wise investing through HK where investment tax rates are zero.

Not a sign of a man who acts "irresponsibly" but one that invests wisely.

Edited June 13, 2007 by pnustedt

[thai_narak]

JR Texas: Corrupt to the core.........not one thought about any other person other than himself.......highly destructive to the Thai economy..........rich beyond imagination................what a world!

You have to give him credit (bad credit). He knows how to manipulate people with great skill........and he has the big house on the hill (fantastic view from up there) and his money all tucked away in secure banks in the Cook Islands, Panama, hong Kong, Singapore, Switzerland, Austria, etc.

Crazy world we are living in..............those that act irresponsibly to present and future generations are rewarded with massive wealth and power.

Do you think he will invite me over for lunch?

This post is complete nonsense!

The Thai economy prospered during the Thaksin era - and so did those who invested in it (myself included).

If the house (or apartment) that he has purchased is in Victoria Park it is not "up there" but at sea levelor maybe on "The Peak" as HK residents call it. The HK property market is booming at the moment so this property may well prove to be a wise investment. He would also be wise investing through HK where investment tax rates are zero.

Not a sign of a man who acts "irresponsibly" but one that invests wisely.

Not only Thai economy prospered but also Thaksin's own economy and business empire plus his cronies and political acquiantances...

Edited June 13, 2007 by thai_narak

[hammered]

JR Texas: Corrupt to the core.........not one thought about any other person other than himself.......highly destructive to the Thai economy..........rich beyond imagination................what a world!

You have to give him credit (bad credit). He knows how to manipulate people with great skill........and he has the big house on the hill (fantastic view from up there) and his money all tucked away in secure banks in the Cook Islands, Panama, hong Kong, Singapore, Switzerland, Austria, etc.

Crazy world we are living in..............those that act irresponsibly to present and future generations are rewarded with massive wealth and power.

Do you think he will invite me over for lunch?

This post is complete nonsense!

The Thai economy prospered during the Thaksin era - and so did those who invested in it (myself included).

If the house (or apartment) that he has purchased is in Victoria Park it is not "up there" but at sea levelor maybe on "The Peak" as HK residents call it. The HK property market is booming at the moment so this property may well prove to be a wise investment. He would also be wise investing through HK where investment tax rates are zero.

Not a sign of a man who acts "irresponsibly" but one that invests wisely.

So if the economy does well and we make a few bucks off of it we should turn a blind eye to the extra judicial slaughter especially if it led by a shrewd investor. Personally I would say that the killings were an act of irresponsibility. Then again maybe not everyone minds a few thousand people being offed while such niceties as due process are abandoned. Maybe this is especially true if people are making money.

[lannarebirth]

lanna I hope you mean 25 million baht rather than dollars cause that would have to be the most expensive house in Thailand.

Yes I did, sorry.

[jaidam]

He was only joking this time as well

I quote from the Nation website. Hot update!!

"Khun Thaksin has no plan to buy house or apartment in Hong Kong," he told reporters.

That was Noppadol speaking. So just like Man City and now this. He must think its more exposure for less cash than his US PR firms were costing him. He'd better figure in the bad will caused by these reckless games, I doubt Man City fans are too impressed with the guy.

[Bottlerocket]

Same as it ever was.

[Ricardo]

This isn't a jab at the anti-Thaksin group, but I would find it interesting to see a list of some people in Thailand who made their money or gained influence honestly. In my time here, I've just not come across any--at least not ones that have gotten very far. (I might add that this isn't a situation that is unique to Thailand--but it certainly seems to be more consistent here than a lot of places).

Interesting idea ! Perhaps a new thread might be appropriate ?

[Heng]

Congrats to Thaksin on his new home.

Plenty of sour grapes on this thread.

[A_Traveller]

As an aside, his lawyer here says he didn't buy the town house, the media said he did. Perhaps we should suspend judgement.

Regards

[Bill97]

As an aside, his lawyer here says he didn't buy the town house, the media said he did. Perhaps we should suspend judgement.

Regards

Or perhaps it is just lawer talk. A lawyer would say he did not buy it if it was not bought in his name but the media and most others would say he bought it if it was purchased by some person or entity that he controlled. Taksin used a lot of different entities and people to hold his assets.

[jumnien]

Sounds like a great house; sure to make the thieving General du jour quite envious!

[Weho]

That price seems high for a "cookie cutter" tract house, attached to other houses... I would think he would pay that much money, and NOT expect to have neighbors... neighbors who may hang up dirty laundry in his view, or fix their cars in their driveway, or play their stereo late at night...

Who needs those headaches.