APSN | Two-thirds of new Thai cabinet are millionaires

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Two-thirds of new Thai cabinet are millionaires

Associated Press - September 29, 2011

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Bangkok – Almost two-thirds of the members of Thailand's new Cabinet are millionaires, and Prime Minister Yingluck Shinawatra ranks second on the list despite being the sister of one of the country's wealthiest men.

The National Counter Corruption Commission released the figures for the 36 ministers Wednesday from asset declarations that are mandatory for all incoming and outgoing Cabinet members.

Yingluck declared net assets of 541 million baht ($17.5 million), including seven Hermes handbags, the most expensive one worth 350,000 baht ($11,200).

She is the youngest sister of ex-Prime Minister Thaksin Shinawatra, a former telecommunications tycoon whose fortune was recently estimated by Forbes magazine at $600 million. He was ousted by a military coup in 2006 after being accused of corruption, and part of his fortune, once estimated at more than $2 billion, was seized by Thai authorities.

The wealthiest Cabinet minister is Science and Technology Minister Plodprasop Suraswadi with declared net assets of 963.5 million baht ($31 million). Plodprasop has spent much of his career in government service in areas related to natural resources, including as director of the fisheries and forestry departments.

Yingluck came to office in August after leading her pro-Thaksin Pheu Thai party to a landslide election victory.

Her assets also included eight cars – the most expensive being a Porsche Cayman – and a residence with a soccer field.

Yingluck's predecessor as prime minister, Abhisit Vejjajiva, declared assets worth 54.4 million baht ($1.75 million) on leaving office, up from the 51.8 million baht ($1.67 million) he declared when he came to power in December 2008.