We are slow in posting on this story, partly because there wasn’t much media attention to it.
However, Thai PBS and the Bangkok Post did mention it in a little more detail than other outlets.
It noted that the Election Commission sent cases involving three serving junta cabinet members and a former minister to the Constitutional Court. Going to the Court could mean very little as it is essentially a puppet agency, so that’s why instead of headlining ministers being in hot water, we think it is tepid water.
Following a complaint in February 2018 by Peua Thai Party’s legal advisor Ruangkrai Leekitwattana who petitioned the EC to look into the shareholdings of the four individuals following their assets declarations.
After 11 months, the EC found fault with the four “for holding shares in companies granted business concessions by state agencies in violation of the Constitution.” The four are former Prime Minister’s Office Minister M.L. Panadda Diskul, Science and Technology Minister Suvit Maesincee, Education Minister Teerakiat Jareonsettasin, and Deputy Transport Minister Pailin Chuchottaworn.
The Constitutional Court must now decide “whether they should be disqualified for conflict of interest for their share holdings in violation of sections 184 and 186 of the Constitution.”
Ruangkrai’s petition claimed:
… ML Panadda had 6,000 shares of Airports of Thailand Plc, operator of Suvarnabhumi, Don Mueang and other airports. Although ML Panadda no longer was a minister, a guilty ruling means he will be banned from holding office for two years.
Mr Suvit had 90,000 shares of Global Power Synergy Plc (GPSC), a holding company of power-generation subsidiaries of PTT Plc, who holds state energy concessions.
Mr Pailin, a former CEO of PTT Plc, also had 5,000 shares in energy giant PTT Plc and more in its subsidiaries — GPSC (50,000 shares), IRPC Plc (240,000), PTT Global Chemical Plc (60,000) and Thai Oil (40,000). He also had shares in three other companies — Gulf Energy Development (300,000 shares), Banpu Power (10,000) and Intouch Holding (26,000).
Dr Teerakiat had 5,000 shares of Siam Cement Plc.
The case continues to confirm that cabinet ministers under the military junta consider they have impunity.
When they declared their assets, Panadda was the wealthiest cabinet member, with assets of 1.3 billion baht or almost US$40 million, Suvit had assets conservatively valued at 73.4 million, and Teerakiat has assets of 44 million baht. Pailin’s assets were reported at 179.1 million baht and his shares in the companies listed above are today worth more than 38 million.
Suvit’s case is somewhat more interesting than the others as he is Palang Pracharat’s deputy leader and simultaneously and unethically also a cabinet minister. If he is banned, the party also faces scrutiny. His response to the referral was to say “he was not worried with the Constitutional Court’s proceedings because they would not affect his work in the government or his political work with the Palang Pracharat party.” Such pomposity comes from knowing he is more or less untouchable. He did add that “his work in the Science and Technology Ministry was almost completed and he would quit the cabinet at the right time to spend full time in politics.”
Pailin’s response was a bit more to the point, claiming “that he had already transferred all his shares to a private fund before he assumed cabinet portfolio and that he had nothing to do with the management of the shares.”
We await the Constitutional Court’s timely decision, but will not hold our collective breath.