Panthongtae Shinawatra Explained

Panthongtae Shinawatra
Native Name:พานทองแท้ ชินวัตร
Native Name Lang:th
Birth Date:2 December 1979
Birth Place:Huntsville, Texas, U.S.
Spouses:Natthiya Puangkham
Party:Pheu Thai
Father:Thaksin Shinawatra
Mother:Potjaman Shinawatra
Relatives:Paethongtarn Shinawatra (sister)
Yingluck Shinawatra (aunt)
Pitaka Suksawat (brother-in-law)
Occupation:Founder of Voice TV

Panthongtae Shinawatra (Thai: พานทองแท้ ชินวัตร; ; nicknamed Oak; born 2 December 1979) is a Thai businessman and the only son of former Prime Minister of Thailand, Thaksin Shinawatra. He became a billionaire after having been transferred a large portion of his father's stock in Shin Corporation shortly before Thaksin became prime minister.

Early life and education

Panthongtae was admitted to the Faculty of Engineering at Thammasat University in 1998. However, he dropped out after one year. In 2000, he enrolled in Ramkhamhaeng University, an open admission government university, where he studied political science. In August 2002, his studies attracted media attention when he was accused of cheating in an exam.[1] A three-week university investigation concluded that Panthongtae had made a mistake by carrying unrelated notes into the exam room and he was cleared of wrongdoing, yet he automatically failed the political science subject he was sitting.[2] He graduated with a bachelor's degree in 2003.

Careers

An amateur photographer, Panthongtae founded in 2003 a production company called How Come Entertainment (now Voice TV Co. Ltd.), which was awarded an exclusive advertising contract for the MRT and many other government contracts when his father was prime minister. This caused controversy and drew charges of nepotism, as How Come was a new firm and the advertising concession for the subway had previously been awarded to the long established Triad Networks Company.[3]

In early 2006, Panthongtae was involved in his family's sale of Shin Corporation stock to Temasek Holdings of Singapore. Thailand's Securities and Exchange Commission ruled that Panthongtae, as director of Ample Rich Investments (a shell company set up in the British Virgin Islands to control Shin stock), had failed to properly notify the regulators of his holdings in Shin and sale of Shin shares, in transactions that occurred in 2000, 2001 and 2002.[4]

Prasong Vinaiphiat, deputy director of the Thailand Securities and Exchange Commission, said: "The case is not severe because Panthongtae did inform the SEC but his report was not totally correct."[5] He was fined 5.982 million baht (about US$150,000) for three violations of the Securities and Exchange Act.

In November 2009, Panthongtae's company Voice TV (formerly How Come Entertainment) launched its own digital TV station of the same name with 300 million baht.

References

  1. Web site: TIME Asia Magazine: Hide the Report Card -- Sep. 09, 2002. January 13, 2005. web.archive.org.
  2. News: Thai PM's son cleared of cheating. BBC News. September 19, 2002. April 3, 2006.
  3. Web site: Thailand: Subway cake carved up. AsiaMedia. August 27, 2006. dead. https://web.archive.org/web/20070313010501/http://www.asiamedia.ucla.edu/article.asp?parentid=10488. March 13, 2007.
  4. http://www.bangkokpost.net/breaking_news/breakingnews.php?id=81324 Bangkok Post
  5. Web site: Borneo Bulletin Online . March 22, 2006 .

External links