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

[Thait Spot]

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

praise ye defenders of the poor

Praise ye defenders of the law

[rubl]

Billionairs, all too rich to need to be corrupt

[theslime]

Billionairs, all too rich to need to be corrupt

Not to sure about that comment. When you have a feast and gorge yourself, at some point you will say enough. But with Money its never enough.

[Pimay1]

Are these the people thaksin was referring to when he said you will all be rich in six months if PTP is elected?

[Penangfreak]

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

[waza]

As predicted the cabinet of millionaires are becoming not only the cabinet of billionaires but their family members are becoming billionaires. Great news for the people of Thailand as their socialist/ democratic PTP government enriches their lives.

[lemoncake]

As predicted the cabinet of millionaires are becoming not only the cabinet of billionaires but their family members are becoming billionaires. Great news for the people of Thailand as their socialist/ democratic PTP government enriches their lives.

yep, might be time for another pro government demonstration, let them support the rich against the rich

[valerian]

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.

Actually.. it wouldn't surprise me if it gets there. But with a slightly altered headline.

"Good successful citizens that will lead us to prosperity are all linked to Yingluck."

[TPI]

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

For shame! Next thing you'll be saying is that Takki has Thailand's interests at heart!

[BlackJack]

invest where they are investing then!

[AleG]

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.

How does this compare to the previous two years, while the government wasn't under Taksin''s control?

[rogerdee123]

The reason why this is news is because this Govt claimed to be the Govt of and for "Prae". The newspaper is simply reporting the truth and readers can draw their own conclusions as to whether the Govt is living up to it's claimed identity or not. This is part of the answer. We will see the other part of the answer, i.e. to what extent this Govt advances the lot of the "Prae" (not to be confused with the "rural elite").

The other political parties, never claimed to represent and be the champion of the "Prae". That's why it isn't news in regard to them.

The bottom line is this Govt is no different in it composition of "Prae" and "Elite" than any of the others and I think for most well informed political observers, this is no surprise and quite predictable.

[Globeman]

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

Yeah, when did that start?

[kurnell]

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

At least somebody still remembers what sarcasm is

[scotbeve]

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.

A balanced view would certainly be interesting if not amusing! Those numbers in the OP are only ONE faction and who's to say there are much more rich politicos even higher than the top 5 PT linksters....??? Or go the other direction and ask ourselves who are those folks between #6 and #46...???

[waza]

An annual report by Money and Banking Magazine listed Tycoon Anant Asavabhokhin, head of property firm Land and Houses, as the richest individual investors with shares valued at 16.37 billion baht. Thaksins daughter, brother-in-law and son are listed as second, third and fourth richest investors in the Stock Exchange of Thailand (SET).

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

Its good to see not only are Thaksin's girls are doing so well but Charlems boys are multimillionaires too acquiring 90 million baht worth of stocks. I didnt realise that being a firearms trainer in the RTP paid so well.

Edited December 13, 2012 by waza

[MAJIC]

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

I doubt most of them will be any more enlightened,the cost of buying of a Newspaper would be an unecessay expense!

[templedog]

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

Ya think so? :-)

[templedog]

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.

<deleted> were you trying to say? That was the most gobbledy goop, incoherent, blather of English I've read in the last half hour on Thaivisa. But, please don't get your panties in a bunch over my rude statement, rather just explain it more clearly. ;-)

[templedog]

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

praise ye defenders of the poor

Praise ye defenders of the law

DUDE!! YOU SAID IT PERFECTLY. Never mind these Red/Yellow defenders here on this post.....scum is scum, no matter what the color.

[Curt1591]

The richest people will always be linked to the current government. That's why they are in office.

[metisdead]

Posts and replies bringing the King into the discussion have been removed.

[fxe1200]

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

Your thinking comes quite late. As long I can think, Thailand has a plutocratic government. Since the unresolved death of King Ananda Mahidol back in 1947, and the military take over of the government thereafter, Thai politics paved the way for a plutocracy. The changing governments and coupes de etat since then, are an infallible sign of "Swines changing their places, whilst the trough remains the same."

Nowadays one can see the members political parties trying to discredit or sue each other for whatever reason they might find, just to maintain their power and keep their hands inside the "sugar jar" of Thailand.

[Ricardo]

Perhaps the fragrant Ms Yingluck might issue a statement, giving the lie to this article, something traditional like "I don't know who these Red Shirt Leaders rich people are, and I've never met them, not even at the golf-course or the Four-Seasons." ?

[Pimay1]

Here little piggies. Oink, oink, oink.

[Bagwan]

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.

Except at the Poles where it rises and sets either in the south or the north depending on which Pole you are at.