Democrat Party assets

5 10 2012

Most political commentators consider that the Democrat Party possesses few political assets. However, the recent release of wealth declarations by Democrat Party leaders when in government shows they had plenty of economic assets. The Nation reports that the National Anti-Corruption Commission is required to collect assets data for former ministers, one year after they leave office.

The former members of the Democrat Party-dominated Cabinet are not short of a baht, dollar or Euro. And, as noted below, some (all?) of them are worth a heck of a lot more but have done deals with family to spread the wealth about while maintaining control over the assets of the family-cum-company. We won’t list them and just draw attention to a few.

Wealthiest is Korn Chatikavanij who declared personal assets with his wife of 865.909 million baht or about US$28.6 million, apparently a “Bt4.5 million decrease from the amount he declared when leaving office.” Korn’s supposed to be a sharp investor, so the drop in assets, when the market has been rising seems a bit odd.

Second richest is Chaovarat Chanweerakul of the Bhum Jai Thai Party, with declared assets 754.237 million baht. Chaovarat’s family is much wealthier than this. His son (อนุทิน ชาญวีรกูล) and daughter-in-law Sanongnut (สนองนุช ชาญวีรกูล) are the major shareholders of the family firm Sino-Thai Engineering, and together hold shares just in this company valued at almost 4.8 billion baht and there are plenty of other family members listed as shareholders.

The third richest is former the deputy finance minister Pradit Pataraprasit, worth 681.258 million baht.

Former justice minister Pirapan Salirathavibhaga also has a bit of loot, being worth 629.88 million baht. He’s the one with three flight simulators (F-18, F-16 and F-14 fighter jets) worth almost $2 million. Porntiva Nakasai, says she has assets worth 117.03 million baht. We wonder if that includes any of the massage parlor empire?

Former prime minister Abhisit Vejjajiva declared assets worth 53.944 million baht while his former deputy Suthep Thaugsuban proves that debts may also be a measure of wealth as he declared outstanding debts of 347.578 million baht and assets of 210.95 million. When he left office, Suthep declared assets worth 95.64 million baht, up from 81.607 million when the military hoisted Abhisit’s government into power. It seems that his assets and debts have increased very substantially. Suthep said he owed 248.57 million baht to the Islamic Bank of Thailand. We wonder if his loan their followed The Islamic Bank of Thailand Act, B.E. 2545, which stipulates that the bank operates a financial business that are not related to interests
(riba) or against Islamic principles?

The other surprise is former defense minister General Prawit Wongsuwan who has assets worth 79.063 million baht, sharply up from the 9.39 million he declared a year ago. It never ceases to amaze that poorly paid generals can do so well. A 70 million gain in a year suggests Prawit is a financial genius who has found a second skill late in life (probably not).


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5 05 2018
The personal and the political | Political Prisoners in Thailand

[…] is a former Democrat Party minister and Vorakorn has been a yellow-shirted warrior. Korn is spectacularly wealthy. When great wealth meets the judiciary the result is usually in favor of the […]

5 05 2018
The personal and the political | Political Prisoners of Thailand

[…] is a former Democrat Party minister and Vorakorn has been a yellow-shirted warrior. Korn is spectacularly wealthy. When great wealth meets the judiciary the result is usually in favor of the […]




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