Thai PM declares millions in watches and bags among US$400 million assets

BANGKOK: &nbsp, Thailand’s Prime Minister Paetongtarn Shinawatra declared more than US$ 400 million in property on Friday ( Jan 3 ), her party said, including more than 200 designer purses worth over US$ 2 million and at least 75 comfort pieces, valued at about US$ 5 million.

Paetongtarn, the fifth community member to guide a Thai authorities in 20 years, took office in September as the youngest child of telecommunication billionaire and former prime minister Thaksin Shinawatra.

She was required to give the National Anti-Corruption Commission ( NACC ) information on her assets and liabilities.

She identified 13.8 billion baht ( US$ 400 million ) in goods, a report posted on press sites showed.

According to her declaration, her investments were for 11 billion ringgit and she had another billion ringgit in deposits and money.

Her other resources included 75 pieces valued at 162 million baht and 39 more watches, plus 217 bags for 76 million baht, as well as residence in London and Japan, among other holdings.

She also declared liabilities of nearly five billion baht, which is her net worth of$ 8.9 billion, according to the NACC document posted by the local media.

The Pheu Thai Party’s representative confirmed to AFP that the characters were correct as per the local media reports.

The prime minister’s papa and father Thaksin – who once owned Manchester City football team – has a shield fair of$ 2.1 billion, according to Forbes, making him the 10th richest man in Thailand.

Thaksin used the money created by his Shin Corp communications kingdom to launch his political career, and his home has remained prominent despite spending years in exile following his revolution.