However, unlike the Move Forward Party, which has rejected the possibility of working with parties previously aligned with the military, Pheu Thai has options, including forming a coalition with other parties such as Bhumjaithai (71 MPs), the Democrat Party (25 MPs), Chatthaipattana (10 MPs), or even Palang Pracharath (40 MPs).
In the event that Pita’s premiership bid is unsuccessful or the proposed Move Forward Party-led coalition collapses, Pheu Thai may seize the opportunity to propose one of its three candidates for the premiership. These include Thaksin’s youngest daughter Paetongtarn Shinawatra, real estate tycoon Srettha Thavisin, or former attorney-general Chaikasem Nitisiri.
Among these contenders, Srettha, a former CEO of Sansiri, one of Thailand’s largest real estate developers, and a member of an elite family, stands out as a promising frontrunner due to his broad acceptability, potentially even by the Senate.
Although Srettha has long been associated with the Shinawatra family, particularly former prime minister Yingluck, his foray into politics only began formally when he assumed the role of chief advisor to Paetongtarn. Upon announcing his candidacy for the premiership, Srettha became the face of the Pheu Thai Party’s economic policies, including the controversial 10,000 baht digital wallet policy.
SRETTHA THAVISIN’S COMMITMENT TO PHEU THAI
Srettha’s unwavering commitment as the Pheu Thai candidate for prime minister is evident. He has transferred his shares in Sansiri to his daughter and resigned from all his positions at the company. Sansiri, which is listed on the Stock Exchange of Thailand, has a market capitalisation of 27.4 billion baht (US$790 million).