Almost 70 Percent Of Thailand's Cabinet Are Millionaires

By: EW News Desk Team   Date: 29 September 2011

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29 September 2011

 Almost two-thirds of the Thai cabinet are millionaires, including the south-east asian nation's female prime minister, whose assets include seven Hermès handbags.

 

See the Slide Show >>> Corrupt Nations: The Best and Worst of 2010

Thailand's National Counter Corruption Commission yesterday released figures for 36 ministers' assets declaration, which are mandatory for all incoming and outcoming cabinet members.

Thai premier, Yingluck Shinawatra, declared assets of 541 million baht (US$17 million) including seven Hermès handbags, with the most expensive one worth US$11,200, eight cars and a residence with a football pitch. Her nine year old son has 4.4 million baht (US$142,000). 

But she is not the richest member of the cabinet. Science and technology minister, Plodprasop Suraswadi tops the list with 963 million baht (US$31million). He spent much of his career in the civil service in areas related to the natural resources, directing the country's fisheries and forestry departments. 

Before taking office, Ms Yingluck was the president of Thai real estate firm SC Asset Corp. Ms Yingluck is also the youngest sister of former Thai prime minister, Thaksin Shinawatra, a former telecoms tycoon convicted of corruption in 2008. Forbes has estimated Mr Thaksin's fortune at US$600 million, after the Thai authorities confiscated US$1.4 billion of Thaksin's wealth - more than half his fortune - for abuse of power in 2010.

Related: Yingluck Shinawatra: Thaksin's Shadow Puppet? 

Related: Thailand Leaders Seek To Limit Economic Damage of Political Unrest

To prevent and reduce corruption, all Thai politicians have to declare their assets to the National Counter Corruption Commission, and persons found guilty of falsification could face a five year ban from public office. 

 

Corrupt Nations: The Best and Worst of 2010
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