Thaksin Buys 27 Million Dollar Hong Kong House

[lannarebirth]

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.

Sometimes people buy houses they never actually visit, Sometimes they just like to move money.

[tayto]

It's mine, all mine.

Hong kong the hub of everything

[Tony Clifton]

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

It's not under his name, that's all.

[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

It's not under his name, that's all.

Possibly I guess, but that would appear to many be to unacceptable obfuscation by his team I would have thought. unwise at the least. The atmosphere here is not conducive to the subtleties of Ampler Rich BVI {must stop eating Harrods coffee sponge} buying a house as opposed to the the man {or Family} itself. Given the 'spun' coverage of Batter Botts 'don't invest in Thailand' spiel today on the TV news, and the bad feeling that is generating, this is not a good PR day for Thakisn.

Regards

/edit typo //

Edited June 13, 2007 by A_Traveller

[chinthee]

Sorry to burst everyone's bubble, but any clever asset protection planning was done looooong ago. He had the money to buy the best advice and should have done so. The best advice has always been to do your asset protection way in advance of any challenge you may incur later.

Any claims that he "bought this house here," or "that football team there," should be tempered by a respect for what type of counsel the level of wealth that he enjoyed (enjoys) would afford him.

Never mind the headlines.

[A_Traveller]

Sorry to burst everyone's bubble, but any clever asset protection planning was done looooong ago. He had the money to buy the best advice and should have done so. The best advice has always been to do your asset protection way in advance of any challenge you may incur later.

Any claims that he "bought this house here," or "that football team there," should be tempered by a respect for what type of counsel the level of wealth that he enjoyed (enjoys) would afford him.

Never mind the headlines.

In most case I would agree with this, but Thaksin strangely enough seems to be immune to good advice, I've never been able to understand why, as 1 example, no one could structure an effective shelter for his wealth without placing it the names of his domestic staff! Blind Trusts... nah where the cleaner...!

Regards

[chinthee]

Sorry to burst everyone's bubble, but any clever asset protection planning was done looooong ago. He had the money to buy the best advice and should have done so. The best advice has always been to do your asset protection way in advance of any challenge you may incur later.

Any claims that he "bought this house here," or "that football team there," should be tempered by a respect for what type of counsel the level of wealth that he enjoyed (enjoys) would afford him.

Never mind the headlines.

In most case I would agree with this, but Thaksin strangely enough seems to be immune to good advice, I've never been able to understand why, as 1 example, no one could structure an effective shelter for his wealth without placing it the names of his domestic staff! Blind Trusts... nah where the cleaner...!

Regards

Well, that's fascinating. A dollar billionaire who wouldn't diversify and asset protect to the fullest extent of the international law possible. Could be a Thai thing here with personal relationships, etc., and also could be simply a huge ego that wouldn't allow himself to believe he would ever be brought to task. Excellent entertainment either way.

Edited June 13, 2007 by chinthee

[Plus]

So he bought the most expensive house in all of Asia. Good boy, champion of the poor!

If God exists, he must be trying really hard to separate/save anyone with a bt of sense left from Thaksin's fan club - the coup, party dissolution, frozen assets, now the house. Only incurable hard liners will be left. What is God's plan for them?

[thaigene2]

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.

Sorry Scott..We're not allowed to talk about that.

But how many smug little smiles are there at dinners tonight, last night and tomorrow night by the 'old family' types here in LOS given that no one can now challenge their supremacy? Want another election? We'll give you one...oh' yes..well, one that is a bit more 'acceptable' or course - sure they'll find a little way around the 20% rule this time - just watch.

I should get paid for this..

[thaigene2]

So he bought the most expensive house in all of Asia. Good boy, champion of the poor!

If God exists, he must be trying really hard to separate/save anyone with a bt of sense left from Thaksin's fan club - the coup, party dissolution, frozen assets, now the house. Only incurable hard liners will be left. What is God's plan for them?

Despite my comment above Plus...I agree wholeheartedly. I'm no supporter of Thaksin. Just don't like the way the rich old-money types are spinning this to their advantage!

[carnival1200]

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.

I dont think you will get much house in hong kong for 25 million baht.  British friends - think not!

PS your avatar is most disturbing - what do you get out of it?

[thaigene2]

Sorry for 3 posts in a row..but finally:

Does buying a 27 million dollar house today sound like a guy who would do that when "all" his thai money has just been frozen? I know he moved money abroad - I'm sure everyone suspects that...but why would he buy a 27 MILLION dollar house in HK if he was so sure he was coming back to Thailand? He's rich - but not that rich ANY MORE right? Makes very little sense - and although he's an a++hole, the guy's clearly not stupid...

[carnival1200]

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.

I dont think you will get much house in hong kong for 25 million baht.  British friends - think not!

PS your avatar is most disturbing - what do you get out of it?

[Herbie nus]

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

he did not buy it

the Nation Bangkokpost

[Shah Jahan]

Dr. Taksin actually made the beginning of his fortune when he was a police officer and at the saem time got the represenatation for motarola. So he was able to sell walkie-talkies and full communication systems to the police force while being a member of the such

[TommyGun]

Did i hear right that Thaksin has also put a bid in for Manchester City Football Club?

[Maestro]

his lawyer here says he didn't buy the town house

Do I remember it incorrectly, or have there been quite a few times when his lawyer denied something that in the end turned out to be true?

What was it in Thailand that Thaksin did not own; it was a driver and a maid who owned it?

Never mind. I couldn’t care less about Thaksin and Thai politics, nor the politics of any other country.

--

Maestro

[sriracha john]

Did i hear right that Thaksin has also put a bid in for Manchester City Football Club?

The whole saga is laid out in this thread:

Thaksin Looking To Buy Manchester City For 6 Billion Baht ....the football club, that is, not the whole city

[tettyan]

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

Eeeewww. Gross

[tettyan]

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).

There are a few, but they are definitely in the minority.

What set Thaksin apart from the rest of Thai businessmen wasn't as much the novelty of the means of his ill-gotten gains, but the degree. Plus the fact that he really was the first to be able to levarage those gains into becoming PM, which creating a vicious (or virtuous, from Thaksin's point of view) cycle where he was in a position to dole out favorable contracts to his family for perpetuity.

[stumonster]

Thaksin 'did not buy' $32m house

* From correspondents in Bangkok

* June 14, 2007

OUSTED Thai Prime Minister Thaksin Shinawatra did not buy a $32 million townhouse in Hong Kong's most prestigious neighbourhood as reported by various media, his spokesman has said.

"I've checked with Dr Thaksin and he said he didn't buy it," lawyer and spokesman Noppadon Pattama said.

The Standard newspaper reported on Wednesday Thaksin paid about HK$210 million ($32 million for the 474 square metre house on the Peak, the highest ever unit price in the region's luxury real estate arena.

But Mr Noppadon said the report was groundless.

Telecoms tycoon Mr Thaksin came to power in 2001 promising to improve the lives of the rural poor, but was then ousted in a September military coup.

On Monday, Thailand's army-backed government told the country's banks to freeze bank accounts holding nearly $2 billion held by Mr Thaksin and his family.

Full story here :-)

though I am not sure I believe a word he says

[Old Man River]

Thaksin 'did not buy' $32m house

* From correspondents in Bangkok

* June 14, 2007

OUSTED Thai Prime Minister Thaksin Shinawatra did not buy a $32 million townhouse in Hong Kong's most prestigious neighbourhood as reported by various media, his spokesman has said.

"I've checked with Dr Thaksin and he said he didn't buy it," lawyer and spokesman Noppadon Pattama said.

The Standard newspaper reported on Wednesday Thaksin paid about HK$210 million ($32 million for the 474 square metre house on the Peak, the highest ever unit price in the region's luxury real estate arena.

But Mr Noppadon said the report was groundless.

though I am not sure I believe a word he says

Instead of outright purchase it may well be a lease, keeping it off balance sheet.

[Johpa]

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

Or perhaps it was all doggy doo doo dirty, and he played under an absence of rules allowed to a small minority but not others, and what you are feeling is not jealously but contempt, and your kudos are as misplaced as your sensibilties. You can have have his daughter; I am sure you would make a wonderful couple.

[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.

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

Or perhaps it was all doggy doo doo dirty, and he played under an absence of rules allowed to a small minority but not others, and what you are feeling is not jealously but contempt, and your kudos are as misplaced as your sensibilties. You can have have his daughter; I am sure you would make a wonderful couple.

don't have to be the daughter, don't be ambitious the maid is good enough she is very rich.

[cm-happy]

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.

27M not too high for Victoria peak, where all the HK Taipans and hi so live. Mr. "T" can rub elbows with them and not the hoi paloi in a cookie cutter tract house.

To keep things contemporary, report on TITV that Mr. "T" is now in Hong Kong. Saves on long distance(trunk) calls from London to BBK to conference with PPP and Samak.

for elections tommorow.