New leader Srettha a wealthy property developer


Pheu Thai's Srettha Thavisin gestures at the party headquarters in Bangkok.

Thailand’s king endorsed incoming prime minister Srettha Thavisin, an official said, paving the way for him to officially assume office later in the day.

Former property mogul Srettha, 61, of the Pheu Thai party long associated with billionaire former premier Thaksin Shinawatra, will head a coalition government that controversially includes pro-military parties.

Srettha was approved in a joint vote of both houses of parliament on Tuesday just hours after Thaksin returned to the kingdom from 15 years of exile – and was immediately jailed on old graft cases.

“We have been informed that the King has endorsed the new PM, though the letter has not arrived back at the office yet,” Kampi Dittakorn, a spokesman for the House Speaker said.

Srettha’s confirmation ended three months of deadlock and wrangling in Thailand that began with the May general election.

The upstart progressive Move Forward Party (MFP) rode a wave of youth and urban discontent with nearly a decade of military-backed rule to win the most seats.

But its push to reform royal insult laws and take on powerful vested business interests spooked the kingdom’s powerful elite and saw leader Pita Limjaroenrat blocked from becoming prime minister.

“I’m doing this because I want to improve the country and the economy,” Srettha wrote on X, formerly known as Twitter, days ahead of the vote. “I’d like to emphasise again. My enemy is people’s poverty and inequality. My goal is a better livelihood for all Thai people.”

Srettha announced last November that he had joined Pheu Thai, the latest in a string of parties associated with popular but divisive Thaksin, who was ousted by a military coup in 2006. It was Srettha’s first official step into politics.

There has been widespread speculation that Srettha’s expected appointment was related to Thaksin’s return and that it might help shorten his jail time.

Early this year, Srettha stepped down as CEO and president of his family’s company, Sansiri, one of Thailand’s largest property developers with assets worth over 100 billion baht (RM13.5bil).

He also transferred all of his shares, reportedly valued at more than 1.2 billion baht (RM163mil), in the company to his daughter.

Srettha was born into a wealthy family, and there has been scepticism over his ability to connect with Pheu Thai’s main voters in the country’s relatively poor, rural north. After joining the party, he appeared at many campaign stops targeting the working class, including residents of Bangkok’s biggest slum community and rural farmers.

He became an adviser for Pheu Thai’s economic team and helped promote the party’s policies, including a plan to give 10,000 baht (RM1,350) in digital money to all Thais age 16 and above, which created a major buzz.

Before starting his political career, Srettha was a high-profile critic of the outgoing government headed by Prayut, who as army commander staged a coup that toppled a Pheu Thai government led by Thaksin’s sister Yingluck in 2014. — Agencies

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