Ample Rich: First Bangkok Post article
But if it's policies that matter...
Bangkok Post article: 26 Sep 2000Anand Panyarachun, the former prime minister, remarked to one of my colleagues last week that he was afraid that Thaksin Shinawatra, the Thai Rak Thai Party leader, might "fall from his horse" before passing the post and becoming the next prime minister. The observation reflects the gravity of the continuing controversy which swirls about the telecoms tycoon.
It all began with a press report about Mr Thaksin and his wife, Khunying Pojamarn, transferring shares worth several billion baht in Shin Corporations Plc to their son, Panthongthae, and her brother, Bannapot Damaphong. As the spotlight focussed on Panthongthae, who had overnight become the country's most eligible bachelor, some inquisitive newshounds, apparently not satisfied with the report which appeared in documents filed with the Stock Exchange, started sniffing around for other business transactions which the tycoon might have withheld from the public. And what they found appeared to be so annoying to the tycoon that he decided to take a break from public life and make a hasty retreat to Germany. But now he is back and ready to face the blowtorch of public scrutiny.
The latest controversy centres on the transfer of-according to Prachachat Turakij-11.3 billion baht in shares to three domestic employees before he was named to his first cabinet post in 1994. The nagging question is whether he disclosed these transactions when he filed his assets declaration with the Commission to Counter Corruption in 1997, when he briefly held the position of deputy prime minister in the Chavalit Yongchaiyudh administration.
And there is the further question of whether he intended to cover up his complicated cross-holdings in Shin Corps through his Singapore-based arm, Ample Rich Investments Ltd, among others.
The newshounds are unlikely to relax their grip just as the National Commission to Counter Corruption has begun showing an interest in investigating some of the more questionable deals if it receives a formal complaint. And Maj-Gen Sanan Kachornprasart, the former secretary-general of the Democrat Party who fell from grace for lying about his assets to the NCCC, has demanded such an inquiry.
The controversy is hurting Mr Thaksin's image and may threaten Thai Rak Thai's promising prospects at the polling booths, although the latest opinion survey still ranks him the most popular choice among Bangkokians to become the next premier. But he must clear himself of all questionable deals before public confidence in him can be restored completely.
Speaking in defence of Mr Thaksin, Sudarat Keyuraphan, his deputy party leader, said the other day that Mr Thaksin's case could not be compared with that of Maj-Gen Sanan because it had nothing to do with corruption. The party boss, she said, just wanted to reveal his wealth to the public before he assumes the nation's top public office.
For many voters, there are too few candidates to choose from for the premiership and, among those that there are, none impress and are encouraging.
Vote for the Democrats and the likelihood is that we will get the same prime minister with the same mindset and maybe a few cosmetic changes to the old economic, social and political policies which have been so ineffective. Korn Dabbaransi, the Chart Pattana Party leader, has declared himself fit to take the helm but he cannot even staunch the flow of defections from his party. That just leaves Mr Thaksin, and he has yet to prove his worth.
But if policies are the main basis on which people decide who to give their vote, and if the parties are really committed to their policies, then perhaps we need not worry about who will become prime minister, for this really should not matter.
- Veera Prateepchaikul is DeputyEditor (News), Bangkok Post.
