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  1. #1
    Mid
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    Thaksin's richer despite asset freeze

    Thaksin's richer despite asset freeze
    Chua Hian Hou
    Fri, Jul 11, 2008



    BANGKOK - FORMER Thai prime minister Thaksin Shinawatra has become richer despite having US$2 billion (S$2.7 billion) of his assets frozen while he stands trial for corruption, Forbes revealed yesterday.

    The billionaire, deposed in a 2006 military coup, is US$100 million richer than last year, with a fortune of US$400 million, according to the magazine. However, it listed him as Thailand's 16th-richest person, against his 14th ranking last year.

    The true value of his wealth is much higher as he has US$2 billion in assets frozen by the Thai authorities, largely from the 2006 sale of his telecoms company Shin Corp to Singapore's Temasek Holdings.

    Thaksin and his wife Pojaman went to trial on corruption charges on Tuesday. He is accused of using his political office to win her a bargain on prime Bangkok property. They face a slate of other charges both in the courts and before investigators, but have always denied any wrongdoing.

    Thaksin made a fortune from Shin Corp before he entered politics. The telecom company eventually grew to include cellphones, satellites, an Internet service and even a stake in an airline.

    The sale of Shin Corp ignited public discontent, resulting in months of street protests against Thaksin that eventually led to the coup that forced him from office.

    According to Forbes, despite political and economic uncertainty, Thailand's 40 richest people have proved to be a stable lot.

    'Perhaps because the list is dominated by businesses established decades ago and run by the same families, there has been little change. All 40 appeared on the list in 2007 or 2006, or have taken the spots of relatives,' the magazine said.

    Red Bull founder Chaleo Yoovidhya, 76, returned to the top spot with a fortune of US$4 billion, while beermaker Charoen Sirivadhanabhakdi came in second and US$100 million poorer.

    AGENCE FRANCE-PRESSE, BERNAMA

    asiaone.com

  2. #2
    bkkandrew
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    Quote Originally Posted by Mid View Post
    According to Forbes, despite political and economic uncertainty, Thailand's 40 richest people have proved to be a stable lot.
    I wonder why?

  3. #3
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    Thailands 16th?
    Looking at Forbes he was 16th in SEA.
    Please correct me if I'm wromg

  4. #4
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    Woody Allen said half of success is just showing up; it would seem the other half is just having money.





    Money makes money. The rich get richer. Etc Etc. I'm going to knock over a Republican.

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