How PM Paetongtarn has dealt with her shareholdings in 20 companies
Along with asset management firms, stakes in some firms transferred to family members
Prime Minister Paetongtarn Shinawatra has transferred her shareholdings in nearly 20 companies, with a combined value of almost 10 billion baht, to subsidiaries and of at least three companies to family members, Thai Isara News Agency has reported.
The National Anti-Corruption Commission last week made public the asset declaration statement of the PM.
Alpine Golf and Sport Club Co Ltd, with 22,410,000 shares valued at 224.1 million baht (representing 30% of the registered capital), was transferred from Paetongtarn to her mother, Khunying Pojaman Damapong, on September 4, 2024.
Pramaisuree Property Co Ltd (formerly known as Manchester City FC (Thailand) Co Ltd), with 16,949,990 shares valued at approximately 169.4 million baht – representing 45.10% of the registered capital – was transferred to her older sister, Pintongta Shinawatra Kunakornwong, on September 5, 2024.
Alpine Garden Design Co Ltd, a subsidiary of Alpine Golf and Sport Club Co Ltd, with 1,999,800 shares (representing 99.99%) valued at 10 baht per share, or around 19.99 million baht, was transferred to Alpine Golf and Sport Club Co Ltd on August 29, 2024.
At least 11 companies unlisted on the Stock Exchange of Thailand, with a registered capital of 5.780 billion baht, have been transferred to Kiatnakin Phatra Asset Management Co Ltd to manage the assets in accordance with the Public Ministerial Shares and Stocks Management Act, 2000, in cases where the shareholding exceeds 5% of the registered capital and includes shares in at least one listed company. These include:
Rama 9 Hospital Co Ltd, with 5 million shares (representing 0.64%) valued at 1 baht per share, totalling 5 million baht. These shares were transferred to Land and House Asset Management Co Ltd for asset management.
Paetongtarn held 1,216,149,870 shares (28.43%) at 1 baht per share, valued at over 1.216 billion baht in SC Asset Corporation Pcl, as of August 28, 2024. There is currently no information on whether the shares were transferred to a legal entity or another individual.
One of the entries, item 14, lists 1,176,915,495 shares in SC Asset Corporation Pcl, valued at over 3.483 billion baht.
In the note section of the statement, Paethongtarn indicates that 150,765,625 shares of SC Asset Corporation, along with shares in six other companies, have been transferred to Land and House Asset Management Co Ltd as per the ministerial share management contract dated November 20, 2024. Additionally, 1,026,149,870 shares of SC Asset Corporation, along with shares in 11 other companies, have been transferred to Kiatnakin Phatra Asset Management Co Ltd in accordance with the ministerial share management contract dated November 19, 2024.
