Phongthep, The Richest Newcomer To Cabinet: Thailand

[webfact]

Phongthep, the richest newcomer to Cabinet

Atapoom Ongkulna

The Nation

BANGKOK: -- Deputy Prime Minister Phongthep Thepkanjana leads the newly-appointed Cabinet members in terms of wealth, boasting a net worth of Bt2.9 billion.

In compliance with the anti-graft law, the National Counter Corruption Commission yesterday released the asset statements of 23 ministers following last month's Cabinet reshuffle.

Among the major assets of Pongthep and his wife are Bt148 million in their respective bank accounts, Bt1.2 billion in investment portfolios, Bt738 million in lending, Bt224 million worth of land plots and Bt10 million in state licences and concession contracts.

Deputy Interior Minister Chatt Kuldiloke has a net worth of Bt1.1 billion, followed by Public Health Minister Pradit Sinthawanarong (Bt963 million).

During his transition from Transport to the Interior portfolio, Chatt formalised his marriage to Wimolrat and boosted his fortune by more than Bt900 million.

In comparison to his colleagues, Deputy Public Health Minister Cholnan Srikaew has the least wealth, declaring just Bt3.4 million under his name.

Energy Minister Pongsak Ruktapongpisal's net worth was Bt840 million, followed by PM's Office Minister Sansanee Nakpong (Bt54 million), Agriculture Minister Yukol Limlaemthong (Bt17 million) and his two deputies, Yuttapong Charasathien (Bt5 million) and Siriwat Kachornprasart (Bt46 million).

Transport Minister Chatchart Sithipan has the wealth of Bt51 million while his two deputies, Prin Suvanadat and Prasert Chantara-ruangthong, have their respective assets valued at Bt49 million and Bt32 million.

Culture Minister Sontaya Kunplome has the net worth of Bt83 million and Industry Minister Prasert Boonchaisuk's wealth is estimated at Bt12 million.

Interior Minister Charupong Ruangsuwan has Bt17 million under his name and Science Minister Woravat Auapinyakul is slightly richer with Bt21 million.

PM's Office Minister Varathep Ratanakorn claims to have more liabilities than assets, resulting in a negative net worth of Bt25 million. Last year he filed his income tax return claiming his earnings were below the tax bracket.

Among an eccentric collection of assets are Pradit's 20 pricey watches, worth Bt20 million.

Foreign Minister Surapong Towichukchaikul has a large collection of Buddhist amulets estimated at Bt14 million. Former deputy prime minister Yuthasak Sasiprapha reported a drop in wealth from Bt380 million to Bt310 million upon exiting the government. But former deputy finance minister Viroon Tejapaibul made a gain in office, reporting a net worth of Bt181 million. He had Bt166 million when he joined the government a year ago.

Former energy minister Arak Chonlatanon saw his wealth drop from Bt82 million to Bt70 million.

-- The Nation 2012-12-25

[righteous]

"But former deputy finance minister Viroon Tejapaibul made a gain in office, reporting a net worth of Bt181 million. He had Bt166 million when he joined the government a year ago" - If I was Viroon Whatever, I would challenge what this statement implies. Have them either 'put up or shut up' so to speak.

[chooka]

"Former deputy prime minister Yuthasak Sasiprapha reported a drop in wealth from Bt380 million to Bt310 million upon exiting the government"

What happened? Did he no longer have acces to the cookie jar?

The Australian P.M earns $495,430 and this poor Deputy P.M drops 70 Mil baht (approx 2.1 mil AUD) after leaving parliment.

Just curious the Salaries and allowances of Australian Politicians are made public and open for all to see (Internet) but those of Thai's are not. Would be interesting to compare the actual salaries of those in a developing nation to those of a developed one. Somehow I get the feeling that Thai politicians earn a lot more than thier aussie counterparts. Well except for Varathep Ratanakorn whose apparent earnings were below the tax bracket

Edited December 24, 2012 by chooka

[ratcatcher]

Pol.Lt.Gen.Chatt Kuldiloke (Deputy Minister of Transport)

A policeman's lot is not a happy... one.....point one billion!!!

[fareastguy]

No wonder their so far detached from the real world & the man on the street @Bt300 a day !!

[chainarong]

What ever happened to that former policeman, whatsits name, in a good democracy we should be seeing more taxi , bus drivers, doctors , those poor old ordinary citizens in these positions, why one asks , would rich people waste their time, being a politician to an ungrateful mob of peasants , but then again maybe there might be something in it after all.

[whybother]

"But former deputy finance minister Viroon Tejapaibul made a gain in office, reporting a net worth of Bt181 million. He had Bt166 million when he joined the government a year ago" - If I was Viroon Whatever, I would challenge what this statement implies. Have them either 'put up or shut up' so to speak.

It's Viroon that reported his assets. Are you suggesting he didn't make a gain and that he is lying about his assets?

[jerrysteve]

"One hand is tied to the Tight Rope Walker, The other is in his Pants."

[clockman]

"One hand is tied to the Tight Rope Walker, The other is in his Pants."

Dylan allways had it right!

[bigbamboo]

Pol.Lt.Gen.Chatt Kuldiloke (Deputy Minister of Transport)

A policeman's lot is not a happy... one.....point one billion!!!

Would it be indiscreet to ask how a policeman manged to become a billionaire?

[chainarong]

Pol.Lt.Gen.Chatt Kuldiloke (Deputy Minister of Transport)

A policeman's lot is not a happy... one.....point one billion!!!

Would it be indiscreet to ask how a policeman manged to become a billionaire?

Ask your self how did Thaskin a former Police major become a billionaire

[Ricardo]

Pol.Lt.Gen.Chatt Kuldiloke (Deputy Minister of Transport)

A policeman's lot is not a happy... one.....point one billion!!!

Would it be indiscreet to ask how a policeman manged to become a billionaire?

IIRC Inspector Clouseau claimed that it was because his wife was good at managing the household-budget ?

[Squigy]

Totally obscene and all these Hi-so's from lo-so backgrounds... Wonder how this wealth was achieved??? Not through planting rice.

[chooka]

Totally obscene and all these Hi-so's from lo-so backgrounds... Wonder how this wealth was achieved??? Not through planting rice.

Through honesty, integrety, hard work and devotion to country and it's people. Oh and those little bonuses for putting in a few extra yards above and beyond the job description.

[thaicbr]

"PM's Office Minister Varathep Ratanakorn claims to have more liabilities than assets, resulting in a negative net worth of Bt25 million. Last year he filed his income tax return claiming his earnings were below the tax bracket."

​This is the most disconcerting one last year he was earning LESS than 150,000 baht per year (to be below the tax threshold) YET he managed to have debt of 25 million baht.

WOW. Personally that sounds like he is bankrupt.

ohhh and after a google search he was a former deputy finance minister under a previous Thaksin government... wonderful.

Edited December 25, 2012 by thaicbr

[Banzai99]

Typical ThaiVisa response, how they hate some Thai people being rich, while they struggle by on a pittance, lol.

[thaicbr]

Typical ThaiVisa response, how they hate some Thai people being rich, while they struggle by on a pittance, lol.

It's HOW they became rich. They may have been stealing from my pittance

sent from my Q6

[Jim walker]

Looks like he is a good worker to have made all that money, so I take it he will be a great asset for Thailand regarding improving its finances and wealth.

[zydeco]

Ask this question a year from now, after they have all had time in office, and I'll bet you get radically higher numbers.

[Tanaka]

If cabinet members were not millionaires before, they will all be multi-millionaires after at least a year in power. Go figure.

[belg]

what every government, demanded by the people, should start to do: is demand that future politicians do not have any extra other job than the one they are supposed to do...

people with great wealth are not feeling and knowing what the "normal" poor go by each day, what they need,

they only think of widening their pockets with tax payers money (which does not come from the poor, but from the milked middle class)

[yoshiwara]

The interesting issue here is not so much that Government ministers are wealthy, nor that some of them may have acquired their wealth by dubious means. No. The interesting point is the hysterical bullsh1t put out by our friendly forum Thaksin apologists that the PTP and the reds represent some sort of liberation struggle against the so-called elite. What some of us have pointed out time and again is that Thaksin represents merely a split in the establishment/ruling class and this article emphasises that. The red cheerleaders will inevitably turn a blind eye to the inconvenience of such observations, but then they always do.

Edited December 25, 2012 by yoshiwara

[ratcatcher]

"One hand is tied to the Tight Rope Walker, The other is in his Pants."

Dylan allways had it right!

He might have added

"And the riot squad they're restless

They need somewhere to go"

(BobDylan - Desolation Row.)

Not long before they do................again.

[seajae]

definitely interesting amounts of money that just makes you wonder how it all came about, looks like being in a position of importance in Thailand means a vast financial input(very tongue in cheek). Loosing 70 million when you are demoted, hows that, he must of stopped collecting his extras maybe and getting an extra 15 million baht since taking office seems to be a bit heady too, what sort of idiot would boast about this, only a thaksin supporter of course, they dont care who knows where their fortune comes from.

[Banzai99]

And all the politicians in Europe and the U.S. are just regular guys struggling to make ends meet, serving the people, with absolutely no self interest ever coming into play.

Why can't theThais be more like them ?

Oh, wait a minute, they are.

[khunken]

And all the politicians in Europe and the U.S. are just regular guys struggling to make ends meet, serving the people, with absolutely no self interest ever coming into play.

Why can't theThais be more like them ?

Oh, wait a minute, they are.

Are they? Which one has run away from justice? OK, Berlisconi has his counterpart here but I can't find the same number of ex-police millionaires & billionaires in Europe.

[khaowong1]

And all the politicians in Europe and the U.S. are just regular guys struggling to make ends meet, serving the people, with absolutely no self interest ever coming into play.

Why can't theThais be more like them ?

Oh, wait a minute, they are.

Are they? Which one has run away from justice? OK, Berlisconi has his counterpart here but I can't find the same number of ex-police millionaires & billionaires in Europe.

Thanks for that... I was just getting ready to jump in. Banzai99 seems to have a hard on for everyone but Thai's. Good luck with that.

[Buchholz]

Deputy Prime Minister Phongthep Thepkanjana leads the newly-appointed Cabinet members in terms of wealth, boasting a net worth of Bt2.9 billion

Unsuprising that a Thaksin, ver. 1.0 veteran would immediately surpass all others in Thaksin, ver. 4.0 in terms of wealth.

Being in Thaksin's first government and then becoming the fugitive's personal spokesman has been amply rich rewarded.

The ability to keep a straight face during some of his pronouncements is valuable enough to become a billionaire in his own right.

Convicted ex-Thai PM sets up financial foundation: Spokesman

BANGKOK (AFP) — Ousted Thai premier Thaksin Shinawatra, who faces having billions of dollars in assets seized by the Thai courts, has set up a fund to help Asia weather financial turmoil, an adviser said Tuesday.

Multi-millionaire Thaksin, ousted in a 2006 coup, has set up the Building a Better Future Foundation, which his spokesman said aimed to bring together some of Asia's brightest financial brains to help struggling poor nations.

"His aim is to recruit bright, young and talented Asians who can work in countries that have asked for financial advice from Thaksin," Phongthep Thepkanjana, Thaksin's Spokesman in Thailand, said.

http://www.google.co...EnTSkluP7YdAwjg

Nov 18, 2008

Epilogue: Absolutely nothing occurred with his Building a Better Future Foundation. It never got off the ground.

.

Edited January 1, 2013 by Buchholz

[jackspratt]

One can only wonder how the past 10 years would have panned out for Thailand if the Constitutional Court had done its job in 2001, and banned Thaksin for his blatant, and illegal, concealment of assets.

[Buchholz]

One can only wonder how the past 10 years would have panned out for Thailand if the Constitutional Court had done its job in 2001, and banned Thaksin for his blatant, and illegal, concealment of assets.

His subsequent proxies would have been banned sooner for lying about their assets like his niece being banned last year.

.