Pm Discussed Over Staggering Wealth

[Guest IT Manager]

STAGGERING WEALTH: Billionaire PM still cashing in

Published on Jan 20, 2004

The government yesterday sought to downplay growing concern over the ballooning wealth of Prime Minister Thaksin Shinawatra, whose business empire soared to a staggering Bt425.25 billion last year, or nearly 9 per cent of the Thai stock market’s total capitalisation.

The big jump in stock values – from Bt146 billion in 2002 – was a major topic at a recent closeddoor discussion among 30 leading academics, social workers and journalists in Chiang Mai.

At the session, speculation ran wild over just how rich the prime minister really is, with Bt1 trillion (US$25.58 billion) topping estimates, given other assets of his family.

The Chiang Mai forum’s gloomy predictions about Thailand’s future under Thaksin were revealed in yesterday’s edition of Matichon newspaper (see details on A5). The participants, many of them vocal critics of the government, decried his “populist” policy platform, media control, “abundant” cases of conflicts of interest, and growing cronyism.

“We can explain everything,” Government spokesman Jakrapob Penkair said. “This is the most transparent prime minister. He has never hidden the fact that he’s a billionaire. When the national economy is good, everything else must be too.”

Jakrapob said that all companies in the Shinawatra empire are listed in the stock market and open to all kinds of scrutiny.

Pimuk Simaroj, deputy spokesman of the Thai Rak Thai Party, described the information as “nothing new”.

“I have talked to the party’s spokesman [suranand Vejjajiva who is currently on an overseas trip] and other party members and nobody is worried or concerned. That is old information which has been explained many times by the government,” Pimuk said.

The astounding, nearly threefold increase in value of the Shinawatra family’s businesses on the stock market was due solely to the upswing in the economy, he insisted.

“It’s not policy corruption, as alleged. When the waters are high, taller ships will naturally be more outstanding. Everything has proceeded according to the laws of the market capitalism,” Pimuk said.

The Chiang Mai forum is being hailed as the birth of an alliance of informal “ombudsmen” at a time when the parliamentary checks and balances have all but evaporated.

“It’s refreshing to see a group of small people try to tell the other side of the story to the public, although the government will as usual try to discredit them,” said Suriyasai Katasila, secretary general of the Campaign for Popular Democracy.

But Matichon’s reporting about the forum’s documents has worried some participants, who expressed fears that the government would take revenge on the most outspoken critics at the session.

Participants at the Chiang Mai meeting gave a strong warning about “populist” economic policies, saying they are not simply designed to gain popularity. The people’s undisciplined needs and desires have also been manipulated to create ever higher expectations.

At the forum, Thaksin was described as “the deal maker”, whose ultimate objective was to make deals that directly benefit his and his cronies’ family businesses.

The government scheme to allow villagers to have access to easy loans through conversion of their assets into capital is said to be encouraging greater indebtedness among villagers who lack entrepreneurial skills, and therefore, risk losing ownership of their farm land.

The participants also attacked Thaksin for having a “hidden agenda” of reaping gains for his business empire, as far as privatisation of state enterprises is concerned.

More Details Here

[Guest IT Manager]

Nation Newspaper Same Day

FREE SPEECH: New law 'aims to silence NGOs'

Published on Jan 19, 2004

A political activist yesterday alleged that the Thaksin government would move to silence critical non-governmental organisations by using new legislation to regulate NGOs.

Suriyasai Katasila, secretary-general of the Campaign for Popular Democracy group said the government would use the National Social Welfare Promotion and Providing Act to exert control over NGOs.

Suriyasai said the act required NGOs to register with the government to be eligible to receive financial support for their work.

"The act will require NGOs to play by the rules or else they will become non-recognised organisations," Suriyasai said.

He said other NGOs would not dare to anger the government by joining critical NGOs in campaigning against the administration.

Suriyasai said the attempt to control and silence NGOs would be the last phase of the government's five-step manoeuvre to have absolute control of political power.

Suriyasai was speaking to a seminar on the Thaksin government and political scenarios this year held by the Youth Coordination Centre for Democracy at Thammasat University.

He said the government took control of the House of Representatives. It then took control of the bureaucrats, and had also manoeuvred to take control of independent organisations through the selection process, and had used its business clout to control the mass media.

He said the media had resorted to self-censorship out of fear of losing advertising contracts.

Speaking at the same seminar, Senator Chirmsak Pinthong alleged that the government's approval of an eight-year tax exemption for the IP Star satellite project - controlled by a firm affiliated with the Shinawatra business empire - was a way to help a party earn money for political spending.

"This is a policy-level corruption, for which is difficult to hold anyone responsible," Chirmsak said.

[the gentleman]

Shit that much money - remember where he got the money to start from, where and who was the deal done for his first sattelite?

[Guest IT Manager]

Scary isn't it?

[The_Eye_Of_Sauron]

Yes, "Thaksin very rich", is a bit of a non story - I can't think why it occupied the front page.

Whatever, he's still a long way from being the richest dude in Thailand.

[Ricardo]

Whatever, he's still a long way from being the richest dude in Thailand.

So who ARE the richest people ?

Not including DLs' driver/gardener etcetera