Pheu Thai to announce 14-party coalition

Pheu Thai to announce 14-party coalition
Pheu Thai Party leader Cholnan Srikaew, right, and Bhumjaithai Party leader Anutin Charnvirakul seal their agreement to form a coalition, at Pheu Thai headquarters on Aug 7. They will be the biggest parties in the expected 14-party coalition. (Photo: Wichan Charoenkiatpakul)

The Pheu Thai Party is expected to announce a 14-party alliance at the parliament on Monday afternoon.

Pheu Thai secretary-general Prasert Chanthararuangthong said on Monday morning the party would announce its proposed coalition government lineup at a press conference on Monday afternoon. Representatives of about 12 political parties were expected to be there, he said.

He did not know if the Palang Pracharath Party (PPRP) would participate or not.

Sources said there would be 14 parties in the coalition.

Most of the coalition allies would be represented by their leaders and secretaries-general. PPRP leader Prawit Wongsuwon, who is a caretaker deputy prime minister, would not be present but PPRP secretary-general Thamanat Prompow might attend on his behalf, sources said.

Srettha Thavisin, a prime ministerial candidate of Pheu Thai, would not be present but would attend a meeting of Pheu Thai MPs, together with Paetongtarn Shinawatra, another prime ministerial candidate of Pheu Thai, at the party headquarters at 3pm, sources said.

The expected 14-party coalition alliance would have 317 votes in the House and would comprise Pheu Thai with 141 House seats, Bhumjaithai (71), PPRP (40), United Thai Nation (36), Chartthaipattana (10), Prachachat (9), Pue Thai Rumphlang (2), Chartpattanakla (2), Seri Ruam Thai (1), Plung Sungkom Mai (1), Thai Counties (1), New Democracy (1), New (1) and Thai Teachers for the People (1).

It would need 58 more votes in the parliament to ensure a simple majority at Tuesday’s expected joint sitting of the 500-member elected House of Representatives and the 249-member appointed Senate, when Pheu Thai will propose a candidate for prime minister. 

Pheu Thai came second in the May 14 general election. It withdrew from its alliance with the election winning  Move Forward Party, which has 151 House seats, on Aug 2.

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Nattawut declares end to role in Pheu Thai

Inclusion of PPRP, UTN parties in alliance is ‘main reason’

Nattawut declares end to role in Pheu Thai
Nattawut Saikuar, second left, at the Pheu Thai head office with key figures including party leader Cholnan Srikaew (left) and Pheu Thai prime ministerial candidate Srettha Thavisin (centre) on the night of May 14, after voting in the general election had closed. (File photo: Chanat Katanyu)

Red-shirt co-leader Nattawut Saikuar, secretary-general of the United Front for Democracy against Dictatorship (UDD), has declared an end to his role as director of the Pheu Thai Family, citing the inclusion of Palang Pracharath and United Thai Nation parties in the coalition government proposed by the Pheu Thai Party as the main reason.

“For me, the decision to end my role as director of the Pheu Thai Family is an injury in my heart. This is my home. I was born here, grew up here and have been fighting here. All the people in this house are my brothers. But when the time comes, I have to make a decision,” he said.

Mr Nattawut was speaking during an online news programme on YouTube hosted by TV presenter Sorayuth Suthassanachinda on Monday morning.

He said he had informed senior figures in the Pheu Thai Party of his decision. They included Paetongtarn Shinawatra, head of the Pheu Thai Family, Srettha Thavisin, the party’s prime ministerial candidate, and former prime ministers Thaksin and Yingluck Shinawatra.

Asked whether his decision was a result of Pheu Thai having included the Palang Pracharath and United Thai Nation parties in the coalition it is forming, Mr Nattawut replied, “That is the main reason.”

He said he was confident Mr Srettha would finally get parliamentary endorsement as prime minister.

Mr Nattawut reassured red-shirt members of the UDD who remain staunch supporters of Pheu Thai that his decision would not cause any damage to the party.

He said he had waited before announcing his decision, until he was sure the party had managed to garner sufficient votes for Mr Srettha to be elected prime minister.

Mr Nattawut said he would also ask Move Forward, with 151 MPs, to support the push for amendment of the constitution and legal action against those responsible for dispersing past UDD protests, resulting in deaths and injuries.

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Four million commemorative Lee Kuan Yew coins minted; collection to begin on Sep 4

SINGAPORE: A total of four million commemorative S$10 coins marking the 100th birth anniversary of Singapore’s founding Prime Minister Lee Kuan Yew have been minted.  This will meet the demand of over 700,000 applications for 3.3 million coins during the online application exercise, said the Monetary Authority of Singapore (MAS) in aContinue Reading

Snap Insight: Can Singapore's revamped BTO housing framework rein in the lottery effect?

SINGAPORE: Singapore’s Build-to-Order (BTO) public housing model is getting a facelift.

From the second half of next year, new Housing and Development Board (HDB) flats will no longer be differentiated as being in mature or non-mature estates. Instead, they will be classified according to their locational attributes under three categories: Standard, Plus and Prime.

Making the announcement during his National Day Rally speech on Sunday (Aug 20), Prime Minister Lee Hsien Loong highlighted three major aims of Singapore’s public housing programme: Affordability, maintaining a good social mix, and keeping the system fair.

These three objectives are essentially the public housing trinity that form the core foundation of a successful programme that houses 80 per cent of Singapore’s residents. They have also driven Singapore’s public housing policy design.

To achieve affordability, HDB has provided substantial subsidies and grants, particularly to first-time home buyers. For social mixing, the ethnic integration programme has ensured a good racial mix in our neighbourhoods, preventing the formation of ethnic enclaves.

It is, however, the third pillar of fair outcomes that has proven to be more tricky. It is well-known that successful BTO applicants in highly sought-after neighbourhoods often enjoy a “lottery effect”, with high demand for their flats driving resale values up.

A good example of this is Pinnacle@Duxton, where a four-room unit sold for S$1.41 million (US$1.04 million) this month, setting a record for the most expensive four-room flat sold to date. This is more than three times the amount that it was initially sold for. 

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Tunnelling works completed for Phase 2 of Singapore's sewage 'superhighway'

CHALLENGING PROCESS

PUB said that tunnelling work for Phase 2 of the project “was a challenging process” through highly built-up areas. 

“The tunnelling works had to be carried out by five different contractors, using pioneering construction methods and smart technologies for safe and smooth operations,” the agency said.

“This served to greatly reduce disruption to above-ground infrastructure and the public.”

Construction of Phase 2 also saw the implementation of new features that will allow authorities to ensure the integrity of deep tunnels and maintain them more easily.

“These include the use of concrete resistant to microbiological-influenced corrosion, isolation gates to allow for flow diversion, fibre optic cables for remote monitoring of a tunnel’s structural integrity and the use of air jumpers to control air flow within the tunnels,” PUB said.

The Tuas Water Reclamation Plant, a key component of Phase 2, is expected to be ready by 2026.

The plant will be located with the National Environment Agency’s Integrated Waste Management Facility to form Tuas Nexus, Singapore’s first integrated used water and solid waste treatment facility that will be fully energy self-sufficient, PUB said.

In a statement, PUB chief executive Goh Si Hou described the DTSS as a “game-changer” for “one of the most water-stressed countries in the world”.

“The Deep Tunnel Sewerage System is not only an engineering feat, but a key pillar in strengthening Singapore’s water resilience to meet the long-term challenges of climate change and growing water needs,” he said.

“This has been made possible through the bold vision and innovation of our pioneers, and decades of meticulous planning and hard work by our planners, engineers and contractors.

“We look forward to the upcoming completion of our water reclamation and NEWater plants, which will realise the full potential of the DTSS in the years to come.”

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Snap Insight: Leadership succession ‘back on track’ but no clear timeline

HANDOVER TIMELINE STILL UNCLEAR

Committing to transition without a specific timeline raises questions about clarity and planning.

Certainly, Mr Lee’s words will fuel speculation about the potential timing of an upcoming election. He said in July that he had no plans to call an early election.

A clear handover timeline would provide stakeholders with a sense of direction and certainty. It would give clarity about how outgoing and incoming leaders can work collaboratively to ensure a seamless transition, without leaving the nation in a state of uncertainty.

Two scenarios emerge: A handover before the next election – due by 2025 – or shortly thereafter.

The former could signal Mr Lee’s confidence in the 4G team’s readiness and their ability to shape the nation’s path. Mr Lee might assume the role of a senior minister, as his predecessors did, to continue offering guidance.

On the other hand, if Mr Lee were to lead the next election, it might inadvertently imply that the 4G leaders are not yet fully prepared for the transition.

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Candidate hopes for best outcome

Candidate hopes for best outcome
Srettha: Keeps mum on cabinet lineup

Srettha Thavisin, Pheu Thai’s main prime ministerial candidate, on Sunday defended his business track record and expressed hope that his nomination would be endorsed by parliament during a vote on Tuesday.

The property developer-turned-politician was recently accused by whistleblower Chuvit Kamolvisit of unethical business dealings, including land deals, while working with real estate developer Sansiri, raising the question of whether Mr Srettha can be trusted running the country.

In response, Mr Srettha said that as a political figure, he is open to criticism.

However, he is confident that he and Sansiri never engaged in any shady land purchases, noting he had adhered to good corporate governance for over three decades. He denies Mr Chuvit’s claims.

Mr Srettha resigned from all positions at Sansiri in April ahead of the May 14 general election to pursue his political ambition with the Pheu Thai Party.

He said he had clarified the matter raised by Mr Chuvit and believed MPs and senators would use discretion when voting. He said he had complete trust in the Pheu Thai Party, which was negotiating with prospective coalition partners.

He added that key policies of every potential partner would be incorporated into government policies and Pheu Thai’s controversial digital wallet programme would be accepted and implemented by its allies.

He declined to disclose information on the allocation of cabinet seats, an issue being discussed on social media. “Don’t be hasty. Let’s take it step-by-step. But I’m confident that Pheu Thai and its partners will propose qualified people,” he said.

Pheu Thai list-MP Sutin Klungsang said on Sunday the party has met all conditions raised by MPs and senators, and that he sees no reason why Mr Srettha will not be elected on Tuesday.

He said Mr Srettha’s qualifications were examined before he was named as candidate. The party also looked into the allegations made by Mr Chuvit and found them to be untrue, he added.

In other news, the Democrat Party, with 25 MPs, will hold a meeting today to decide how to vote in the PM selection, a source said.

One group of MPs who opposed joining the Pheu Thai-led bloc might ask the Democrat Party to abstain from voting or allow a free vote on the matter, the source said.

Other reports say that as many as 21 Democrat MPs want to support a Pheu Thai candidate so the party is invited to join the government.

A source from the Pheu Thai Party said there is lobbying for the defence portfolio to be set aside for the Palang Pracharath Party, which has yet to join the Pheu Thai-led alliance but has shown support.

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Srettha urged to show up

Senators want to hear him at meet

Srettha urged to show up
Srettha Thavisin

Senators now expect Pheu Thai Party’s prime ministerial candidate Srettha Thavisin to respond in parliament to questions about his ethical standards following various accusations made against him.

They want to hear from him before they decide whether to support him in tomorrow’s prime ministerial vote. Mr Sretta has previously expressed some reluctance to show, as he is not an elected member of the House or Senate.

Pheu Thai needs about 60 votes from the 249-member Senate for its prime ministerial candidate to win the parliamentary vote and become Thailand’s next prime minister.

In the case the candidate nominated for Tuesday’s vote fails to muster enough support from the Senate, that candidate cannot be re-nominated, in line with the precedent set on July 19, when the nomination of Move Forward Party (MFP) leader Pita Limjaroenrat for a second vote was rejected.

Senator Somchai Sawangkarn on Sunday said he wanted a clear answer from Pheu Thai as to which of its three prime ministerial candidates will actually be nominated.

He was responding to rumours that the party was considering swapping Mr Srettha with either Paetongtarn Shinawatra or Chaikasem Nitisiri, after accusations by whistleblower Chuvit Kamolvisit against Mr Srettha raised questions over his business dealings.

If Pheu Thai wants to switch to a new candidate, the Senate should be informed in advance so it will have enough time to prepare to scrutinise the candidate’s qualification before the vote takes place, said Mr Somchai.

“If senators are left with insufficient time to examine the new candidate’s qualification, they might not vote for him or her,” he said.

“If Pheu Thai insists on nominating Mr Srettha, he should come to Tuesday’s joint sitting of the House of Representatives and the Senate to deliver a statement demonstrating his vision as a would-be prime minister, and respond to questions which may be asked before the vote,” Mr Somchai said.

Mr Srettha’s response to Mr Chuvit’s accusations was not enough to address the questions the public may have about the alleged misconduct, said Mr Somchai.

He added that many senators who had already promised to throw their weight behind the party are now doubting their position because of the accusations made by Mr Chuvit.

He was referring to alleged tax evasion carried out by Sansiri Plc, the property development company for which Mr Srettha had served as CEO prior to throwing his hat in the political ring.

“The chances [of Mr Srettha winning the support of the senators] stand at fifty-fifty.

“It will largely depend on how the party handles the situation in the days to come,” he said.

Sen Seree Suwanpanont said if Mr Srettha doesn’t show up to answer questions in person, the senators will have to base their decision only what Mr Srettha’s representative has to say.

In addition to questions surrounding Mr Srettha’s ethics, a number of senators are eager to ask the Pheu Thai’s candidate about the party’s plan to implement its 10,000-baht digital wallet policy, to ensure the policy won’t hurt the country’s finances, he said.

Meanwhile, Sen Direkrit Jenklongtham said he believed most MPs and senators will base their decision on two factors — the candidate’s qualifications and whether or not the candidate’s party has the support of the lower House.

Aside from these two factors, the Senate will also take into consideration the candidate’s ethical and moral standards, along with his or her vision on how to implement the government’s core policies, said Mr Direkrit.

With regards to Mr Srettha’s vow to rewrite the constitution immediately after the government takes office, the senator said he will have to explain why the charter needs to be rewritten in such a rush, and what benefits the amendment would bring the public.

He encouraged Mr Srettha to attend Tuesday’s meeting, calling it a good opportunity for him to convince MPs and senators that he is suited to be the next prime minister.

Meanwhile, Ms Paetongtarn said Pheu Thai still hopes to see Mr Srettha win the forthcoming vote.

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Commentary: Taylor Swift, Coldplay concerts strike the right chord for Singapore’s stock market

THE STORY OF US

Investors in Singapore’s Straits Times Index (STI) may have something to cheer about, especially given the comparatively subdued performance this year. In the first quarter, the STI grew a modest 0.23 per cent, compared with the US S&P 500 Index, which grew by 7.03 per cent.

First, there is the direct impact on entertainment companies. Shares for UnUsUaL Productions, the concert promoter behind the Jacky Cheung marathon, jumped more than 13 per cent in the days after his concerts were announced.

Another big beneficiary would be stocks that traditionally gain from increased tourism, such as hotels. This has been reflected in the performance of Singapore’s hospitality REITs. Following Jacky Cheung’s concert announcement, CapitaLand Ascott Trust’s stock price rose 4.67 per cent between April and July. A similar pattern was observed for Far East Hospitality Trust’s stock price, which increased 4.88 per cent in the same period.

Their positive performances came despite the high interest rate environment. Higher interest rates tend to decrease the value of properties and increase REIT borrowing costs, meaning downward pressure on S-REITs. However, taking reference from the US Fed fund futures, a rate cut is expected to happen by the Fed meeting in December, which could be beneficial for REITs.

Likewise, the transport sector has similarly trended upward. From April to July this year, the share price of Singapore Airlines increased by 29.38 per cent. While the surge could partially be attributed to post-COVID “revenge travel,” concerts have offered an added catalyst for travel. In-country travel stands to benefit as well; notably, ComfortDelGro stocks have gained 5.88 per cent between April and July.

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The Big Read: Transporting migrant workers on lorries - why can't we stop the unsafe practice after so long?

MILLION-DOLLAR BUS RIDE The main “complexities” — costs, operational needs and infrastructural limitations – that have been highlighted by the authorities and business associations are not easy to manage, several companies told TODAY. Mr Allan Low, deputy director for quality, environment health and safety at Teambuild Construction Group, said thatContinue Reading