Thailand's Richest Stockholders Linked To Thai Govt, Prime Minister Yingluck

[webfact]

Richest stockholders linked to govt, PM

THE NATION

BANGKOK: -- Politicians and their families, especially some people close to Prime Minister Yingluck Shinawatra and her government after the latest reshuffle on October 28, rank among the richest stockholders in the country.

Appearing among the 5,737 millionaires as of September, according to a survey of investors in the Stock Exchange of Thailand by Money and Banking Journal in collaboration with professors from Chulalongkorn University, are Yingluck's two nieces, who are daughters of her big brother and former prime minister Thaksin.

The younger niece, Paethongtarn Shinawatra, was ranked 47th with her 29-per-cent holding in SC Asset worth Bt3.46 billion, while Pinthongta Shinawatra was 53rd with a 28-per-cent stake in the same real-estate company worth Bt3.35 billion.

They benefited from the 65-per-cent surge in SC Asset's stock to Bt18 apiece as of September 30. This raised the Shinawatras to 27th among stock billionaire families from 30th in the previous year.

Pojaman na Pombejra, Thaksin's ex-wife, fell to 502nd this year from 467th although her 2.8-per-cent stake in the family business accounted for Bt333.11 million, up 50 per cent.

Pongthep Thepkanjana, deputy prime minister and education minister, has his wife and daughter on the list. Yapa was ranked 244th with a 2.1-per-cent interest in Kiatnakin Bank worth Bt795.50 million, while his wife Panida was 264th with a 1.9-per-cent stake worth Bt728.08 million in the bank.

Deputy Prime Minister Chalerm Yoobamrung has two sons on the list - Artharn at 1,811st with a 2.6-per-cent stake worth Bt58.28 million in Unimit Engineering, and Duang at 2,213rd with 1.8 per cent or Bt38.60 million in the same company.

Heading up the stock-exchange billionaires were the same faces. Thongma Vijitpongpun, president and chief executive officer of Pruksa Real Estate, was the richest for the third straight year with equities worth Bt23.5 billion. Most of his stocks (58.6 per cent worth Bt23.31 billion) were in his company, with minor holdings of 1.1 per cent in Quality Houses and 0.7 per cent in Seafco.

The Maleenont family was this year's champion for the 14th year in a row. With a 108-per-cent jump in BEC World this year, the family's stock wealth soared by 108 per cent, or Bt36.46 billion, to Bt70.26 billion.

They were followed by the Chirathivats with Bt40.87 billion, up 92 per cent, and the Vijitpongpuns with Bt28.09 billion, up 27 per cent.

Thailand's 40 richest people have a collective wealth of US$55 billion (Bt1.73 trillion), an increase of 22 per cent from $45 billion last year, according to Forbes magazine.

Forbes noted that many of Thailand’s wealthiest are looking to take on international rivals, on the strength of an expected 6-per-cent growth in the Thai economy this year. For a country that some outsiders see as beset by political turmoil and rural insurgency - never mind last year’s calamitous flooding - Thailand has done remarkably well by its richest.

-- The Nation 2012-12-13

[edwinchester]

Lets all hope they are invested in rice mills too, that will push them even higher up the rich list!

[kurnell]

I am beginning to think that Thai politicians care more about personal wealth than the Thai people

[righteous]

Is the intent of this bit of research politically neutral?....I dont think so. To have Proffs. from Chula University involved for starters, positions the purpose clearly. After linking some money people to Ms. Y, fully half the article lists more without making such association, but implied. A deft piece of political theatre.

I suppose there is nothing wrong with being linked to the moneyed class, but this one seeks to do so for ulterior purposes. If the purpose was to show linkage to money in a balanced way, according to each side of the political divide, where would that come down.... I am sure the PAD-Dem side would come down like an overweight anchor.

But never mind. It is interesting to see political intent attempting to be obscured. I am also to understand that many of these moneyed individuals ship a lot of this treasure overseas and out of Thailand. It would be interesting to see who and how much this involves, without using it to score political points. And what effect this has on the country - positive or negative.

[SlideRiceFC]

There's similar article in the other paper..which doesn't draw any connection to the government. What rich families in Thailand aren't somehow connected the the government, military or police? That is the nature of dealings here. The article starts out with the Shinawatra clan that doesn't even hit the ranks until 47 all the way down to Chalerm's son ranked at 2,123. Quite a stretch.

[WhizBang]

I am beginning to think that Thai politicians care more about personal wealth than the Thai people

Only begining?

[chainarong]

No surprises here, in most countries, the rich support the opposite to the working class, which supposedly support a labour ,Democrats , party platform, obviously a lot of working class support the opposite side to the party line and a lot of rich people support the other side ,not as many though,this is called democracy, otherwise the upper class would never come to power, a good indication of this working is Australian politics, of course the rich get richer and the poor get poorer , whats new.Whew, time for a cuppa, getting to bloody carried away and serious.

[ezzra]

I am beginning to think that Thai politicians care more about personal wealth than the Thai people

You think?

[fareastguy]

I am beginning to think that Thai politicians care more about personal wealth than the Thai people

I stopped thinking about that years ago when it became blatantly obvious.

[Soi Dog]

This story pretty much writes itself. All you have to do is fill in the blank with the name of the current Prime Minister. And in other late breaking news it has been learned that the sun rises in the East and sets in the West.

[keith101]

rank among some of therichest STOCKHOLDERS in the country ? where are they getting their information from one can only guess

[MaxLee]

And here you have the answer of who is controlling the Thai stockmarket wealth...

[qdinthailand]

I am beginning to think that Thai politicians care more about personal wealth than the Thai people

I don't think this is limited just to Thai politicians (although its a tad unfair to say that ALL politicians - Thai or otherwise - are in it primarily for personal gain).

America's politicians at the federal level almost always dramatically expand their net worth while in office, even while they claim their salary is too low, and upon leaving office, go right into lucrative lines of business working for the lobbying organizations, think tanks funded by the billionaires, and corporations they once regulated.

It's probably pretty true in most other countries as well.

[RisqEM]

Well, it's like the grand opening of a new mall. We've had the set up, the soft opening, now it's time for the grand opening. Invitations have been sent out, friends and family took their seats, now let the raping of Thailand begin!!!

[jerrysteve]

Now who on earth would have ever guessed that....DAH!!!

[lemoncake]

I wonder how and what red shirt supporters feel?

After all this government is supposedly for them and cares about them.

Yet they remain poor but "their"government is getting richer

[Ricardo]

Does this perhaps explain, why the overwhelming priority of the incoming PTP-led government was to slash corporate-taxes, ahead even of obtaining a whitewash/pardon for any/all crimes committed by the 'Big Boss' ?

It surely does !

[LuckyLew]

I am beginning to think that Thai politicians care more about personal wealth than the Thai people

You are beginning to think ??????????

That is all they care about

Their three favorite words are me me me

Politicians in this country do not care about the citizens

All they care about is how how many digits are to the left of the decimal point

[ricardofel]

Yes Kurnell.....that is Thailand. Politicians only get into politics to make money and they care NOTHING for the people or their country. Local, national...it doesn't matter...it's all about greed and corruption.

[Misterwhisper]

Certainly neither a friend of the current, corrupt government nor the morally-depleted Shinawatra clan, I nevertheless had to notice that The Nation newspaper had to "adjust" this list to serve its agenda. While the "other newspaper" listed positions 1 through 12 consecutively in its graphic, The Nation was compelled to skip it at position 6 and instead commence with positions 47, 53 and even way, way down to position 2,213 just to bring its point across.

[jonclark]

Perhaps a name change is in order.

Thailand PLC anyone??

[gl555]

The Shinawatras and the PTP! Champions of tje poor and the downtrodden country folk!

[Pib]

The rich just get richer....I'm jealous.

[Squigy]

It's about time to see a list of the top 100 poorest people in Thailand. That would make far more interesting reading. Who gives a rats arse about those on the top of the pile because they don't care about you the ordinary person who struggles to get by day after day.

[Skywalker69]

I wonder how and what red shirt supporters feel?

After all this government is supposedly for them and cares about them.

Yet they remain poor but "their"government is getting richer

Bet it´s not on the red news.

[noitom]

Notice how they skip from 12345 to 47 53 , the Shiniwatras, all the way down to Duang at #2213. Do you think this list is "politically motivated," or well intentioned to smoke out the insider trading that must be rampant at SET. A ark, opaque market that operates quasi publicly traded stock by largely family run and managed enterprise, with loads of retired military lining the board room walls all decked out in their fruit salad photos and honorary degrees. The SET must be loaded with insider moves and good old boy network deals, front running,...etc. Who really knows anything about what's going on there? What institutional firm would trade the SET knowing how opaque it is?

[Pimay1]

Notice how they skip from 12345 to 47 53 , the Shiniwatras, all the way down to Duang at #2213. Do you think this list is "politically motivated," or well intentioned to smoke out the insider trading that must be rampant at SET. A ark, opaque market that operates quasi publicly traded stock by largely family run and managed enterprise, with loads of retired military lining the board room walls all decked out in their fruit salad photos and honorary degrees. The SET must be loaded with insider moves and good old boy network deals, front running,...etc. Who really knows anything about what's going on there? What institutional firm would trade the SET knowing how opaque it is?

Maybe the red mobs will hear about this (certainly not on the red news) and start an occupy SET movement.

[jbrain]

Thailand richest stockholders, and they publish a list of 12 names ranking between 1st and 2213th place, and it is even not clear how the first 5 are connected to this government.

I must be missing something.

[tragickingdom]

Yes if you invest in the Nation you do not make much. But the Democrats on the other hand are associated with the richest crooks in Thailand. From people who just returned after making billions in profit from a pyramid game to industrialists who owe foreign banks billions and whose money let them off the hook on technicalities after receiving huge donations which they never mentioned. Or what to think about Sondhi who never pays his bills and once said that Thaksin was the best PM when his financial man was getting the top job at Krung Thai which subsequently paid him huge amounts?

It is better to be associated with stockholders than with criminals. It shows too that the richest families and the poor see this government as the only viable one. That says a lot to all the Chinese families without proper paperwork that wear yellow.

[Halion]

No suprises here.

The Government regardless of which party is in power are mere pawns to the Thai elite who have run this country for their own gain. The problem is with the sysyem . Thai people are mere cannon fodder to the greed and ambition of the rich and privleged and It has been this way for a long time where the rich capitilize of the backs of corrupted administration and legal systems and at the expense of their own people.