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Economics/Business Thailand's Royal Wealth | Thailand's Royal Wealth |
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| Written by Our Correspondent | |
| Thursday, 01 March 2007 | |
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How Thailand’s Royals Manage to Own All the Good Stuff
So why does he now wish he lived somewhere else? “If I could do it all over, I wouldn’t build on this land,” he told Asia Sentinel. “There is no security. I can get kicked off at any time.” But he won’t go voluntarily. Somchai’s land, you see, is owned by the King. In fact, most of Bangkok’s best real estate is owned by Thailand’s royal family through the Crown Property Bureau (CBP), which manages the monarchy’s land holdings. Somchai was able to build the house by bribing bureau officials a few decades ago. Now if he sells it, 75 percent of the money will go to the CPB, giving Somchai—who is retired with little savings—no incentive to leave. “The people around here all worry that they might be forced out, but we are too scared to talk about it,” he said. That fear of upsetting the monarchy goes a long way to explain why so little has been written about the Crown Property Bureau. King Bhumibol Adulyadej’s golden robe shields the bureau from public criticism, allowing it to oversee a modern form of feudalism with little scrutiny. More than any institution over the past hundred years, the CPB has shaped Bangkok and in recent years it has only picked up speed. Since recovering from huge debts incurred during the 1997 financial crisis, the CPB has aggressively sought to boost profits from its prime Bangkok land plots, often pushing out poorer shop owners and tenants that have lived on the land for generations. The ceaseless development of huge malls, hotels and office buildings is rarely debated as the bureau avoids public criticism. When its officials do speak, they simply tout the king’s theory of a sufficiency economy, which preaches moderation, reasonableness and immunity. As the bureau has found, however, the best immunity from an economic downturn is to make sure its birthright properties are yielding large amounts of cash.
Claiming the land
Talk of that sufficiency economy has been replaced with a 13-billion-baht grand vision to turn famed Rajadamnoen Avenue in Bangkok’s historical district into a shopping street known as the “Champ Elysees of Asia” – that brand name ought to bring a smile to former Prime Minister Thaksin Shinawatra, who royalist coup leaders have blasted for failing to adhere to “sufficiency economy”. The bureau owns much of the area, and said it would not renew 137 contracts after they expired in 2004. A new part of the CPB’s strategy was to turn much of its prime land into shopping centers and luxury housing. The CPB also signed a 30-year lease with Central Pattana to transform the World Trade Centre near the Chidlom Bangkok Transit System station into Central World Tower, an enormous hotel, office and shopping plaza in the heart of Bangkok. It also joined hands with Singaporean property firm CapitaLand to form a local subsidiary. In addition to Central World, the CPB owns the land on which a host of the city’s largest malls are located, including MBK Shopping Center, Siam Center, and Siam Paragon. Coincidentally, Kempinski Hotels and Resorts, a Europe-based company majority-owned by the bureau, will manage the new luxury hotel being built next to the Paragon. In recent years the bureau has also shocked longtime residents of various traditional marketplace districts by giving them eviction notices. Previously they had always felt safe living on “the king’s land.” In Chinatown, Thai-Chinese families that lived on CPB land on Soi Luenrit for three generations were kicked out so a property developer could put up a jarring shopping mall that is out of character with the historic neighborhood. In Charoen Phon, residents were told to leave their shophouses to make way for a Tesco Lotus superstore. In Klong Thom, another Chinatown market, the bureau sent marching orders so a developer could build a new market that yielded higher rents. At the old fish market on Charoen Krung on the Chao Phraya River, traders fear that thousands of unskilled laborers will soon be out of work. The CPB wants to turn the traditional market into a 7-billion-baht high-rise hotel, condominium and commercial complex. The Silom Club, an 89-year-old sports club that some regard as a historical monument, will also be turned into a high-rise. The results of the new strategy have paid off grandly. In 2003, the CPB recorded revenue of four billion baht. About 1.7 billion baht of that came from increased rents, shattering the 1 billion baht target Bureau director-general Chirayu Isarangkun na Ayutthaya had set four years earlier. In 2004, the bureau’s earnings reached five billion baht. Chirayu announced that the CPB was now healthier than before the 1997 crisis.
Bangkok’s tallest skyscraper
 The Crown owns vast tracts of Bangkok A larger fight could potentially take place at the Suan Lum Night Bazaar, where reluctant vendors have been given until April to vacate what has quickly become one of the city’s surprising tourist attractions. Some see the battle over the largest plot of land in Bangkok’s central business district as a prime example of how the CPB is patient in getting what it wants. In the 1950s, the Navy controlled this valuable plot of land next to Lumphini Park, but the military-run government of Sarit Thanarat transferred it to the Army after he suspected Naval officers of using the site to plot a coup against him. It then became home to the Armed Forces' Preparatory School, which opened in 1958. In 1993, the CPB told the Supreme Command to move the school when its lease expired in 1999 in order to ease traffic congestion. Since then, plans for the 20.6-hectare site have been mired in controversy. Initially it was to become a 350-meter tall telecommunications tower 49 percent-owned by the bureau. Then it was set to become the headquarters for Siam Commercial Bank, in which the CPB has a controlling stake. But all along, the military pushed for the land to become a public park in a city starved for green space. So when it emerged in 2000 that the bureau would turn the land into the Suan Lum Night Bazaar, a kitschy night market for tourists, many criticized the move. “The shopping mall is an eyesore and a disgrace,” said leaflets distributed at the site by military school alumni. “This is against a social contract made with pre-cadet students.” The CPB responded in 2002 by saying the move was intended only to recoup some cash spent relocating the military school. In a statement reported at the time, the bureau said that long-term the land would be used for “educational, cultural and recreational purposes.” Many suspected, however, that the bureau only wanted to lease the area to the night market in order to change the zoning from educational use to commercial and residential. That happened in 2002, when Thaksin’s government passed a law changing the status of the land plot. Indeed, by 2004 it was clear that the site was actually the pillar of the CPB's expansion plans. Director-general Chirayu said the sprawling market would be turned into a 100-billion-baht commercial complex filled with offices, retail outlets, condominiums, entertainment venues and a hotel. Last June, the bureau announced that it had short-listed Central Pattana Plc, Sansiri Plc and TCC Land as developers for the site. The company that operates Suan Lum also submitted a proposal to expand the site while retaining the popular Night Bazaar and its many vendors; that was rejected. Central Pattana, which runs Central World Tower, has said it wants to redefine the city’s skyline by erecting Bangkok's tallest skyscraper on the site. The bureau is expected to announce the winner next April.
Royal cloak
 This popular night market was used as a ploy to change zoning regulations This immunity was most apparent after Singapore-government run Temasek Holdings bought Shin Corp from Thaksin’s family in January 2006. The sale was the tipping point for Thaksin, who responded to mass protests by calling early elections. Months of deadlock ensued before the military, with the backing of the palace, pushed the twice-elected premier from office. Most criticism of the deal centered on the complicated shareholding structure Temasek used to purchase Shin in such a way that it could bypass foreign ownership restrictions. Although this seems devious, the practice had been standard operating procedure in Thailand for decades before Thaksin’s political opponents seized on the issue. It turns out that Kularb Kaew, one of the companies in the Temasek-led consortium, was acting as a nominee for Temasek. Shareholders of Kularb Kaew included Pong Sarasin, the brother of Arsa Sarasin, King Bhumibol’s principle private secretary. Kularb Kaew owns part of Cedar Holdings. The other owners of Cedar are Temasek and Siam Commercial Bank, in which the Crown Property Bureau has a controlling stake. SCB also played a crucial role advising and providing financial support for the deal. Despite these interlocking interests, public anger was directed solely at Thaksin for “selling off” a valuable Thai national asset to foreigners. SCB and CPB were barely mentioned in the local press, even though they actively helped Temasek allegedly violate the law. The issue gets even more bizarre. The currently military-appointed government recently proposed changes to the law to stop the longstanding practice of foreigners using nominees to buy Thai companies. The new Commerce Minister Krirkkrai Jirapaet had said the changes were necessary because the Shin purchase through nominees “led directly to the fall of a government”— the implication being that Thaksin himself was responsible for the army driving tanks into Bangkok and tearing up the Constitution. The Crown Property Bureau also has longstanding ties to Singapore. Temasek owned a stake in SCB long before the Shin deal transpired, and Chirayu has said the state-owned investment vehicle has been a “good partner for years.” Chumpol NaLamlieng, who served as president of Siam Cement for 12 years, is now chairman of SingTel, which is owned by Temasek and holds a 21 percent stake in Advanced Info Service, the market-leading telecommunications company founded by Thaksin and Shin Corp. Since everyone knows everybody in this elite circle of friends, it came as a shock to many that Tongnoi Tongyai, the private secretary to Crown Prince Maha Vajiralongkorn, seemed set to join the Shin board and then was quickly disowned by the palace. The episode was certainly awkward. While the sequence of events remains opaque, some claim the prince gave the go-ahead for Tongnoi to join the board, which led to a public announcement, but King Bhumibol nixed the deal. Vajiralongkorn then issued a bizarre and shocking public statement lashing out against Tongnoi. “HRH the Crown Prince's Personal Office considers MR Tongnoi Tongyai a perverse abuser of power for his own benefit,” the statement said. “His acts have misled the public and harmed HRH the Crown Prince's Personal Affairs Office, which thus finds itself obliged to publicize the facts of the matter.” Of course, since he had offended the throne, Tongnoi was not able to defend himself. The incident didn’t go away easily, however. Post Today, the Thai-language sister paper of the Bangkok Post, had to pull thousands of copies off the printer one recent night because a story quoting a leftist academic said the press should investigate why Tongnoi was dismissed in such a strange manner. Vajiralongkorn eventually called a group of reporters to the palace, where he reportedly asked them: “Do you have a problem with me?” Nobody spoke up.
Moral money-making
The Crown Property Bureau’s operations are important to scrutinize in light of the September 19 coup. It was argued that the coup was justified because Thaksin abused his powerful position to boost the financial gains of his many companies, intimidated the media into favorable reporting, and flaunted foreign ownership laws and tax loopholes in his family’s sale of Shin Corp. These arguments certainly have merits, but they are dubious justifications for the palace-supported coup. The CPB is also guilty of what Thaksin is accused of. The bureau has used its powerful position for decades to acquire its massive landholdings, winning favorable business deals and paying no taxes. It intimidates the media by linking itself to the god-like Bhumibol, leaving newspapers afraid to touch it for fear of violating lese-majeste laws. Some may argue that this doesn’t matter, as the Crown Property Bureau’s assets are technically national property. Yet if that’s the case, then it should shed its opaque “semi-private, semi-public” legal status and open its books for all to see where the money is going. As of now, all anyone has to go on is the words of executives and the general belief that they must be morally outstanding because of their closeness to the royal family. This moral image is crucial to the success of the monarchy and its financial arm. Thaksin was certainly well loved in many parts of Thailand, but was reviled in Bangkok by royalist elites who eventually saw him as a rival to the all-powerful Bhumibol. This opened the door for attacks that questioned Thaksin’s moral ability to lead after his family sold Shin to Temasek. Thaksin didn’t help his cause when he openly boasted that his critics were “jealous” of him. Enraged opponents called him greedy and said he didn’t have the kingly attributes to run the country. Bhumibol, on the other hand, has adeptly crafted an image of a loving father who always has the country’s best interests at heart. He preaches sufficiency economy in an effort to distance the palace from the consumerism that it helps create through opening lavish malls on some of Bangkok’s best properties. You don’t see CPB using much of that land for green space to contemplate the serenity of nature. If this image was not so carefully cultivated—if Bhumibol were a mere man with rather than a Buddhist dhamma king—then ordinary Thais might ask how it came to be that one family managed to grab so much land. They might even start to demand that they receive “fair value” and an opportunity to have a slice of the pie. As long as the elderly Bhumibol is around, this is unlikely to happen. But the monarchy must ensure a smooth succession, otherwise the public may demand that some light finally shine on the bureau’s murky finances.
Part Two: The Crown Property Bureau and How it Got That Way
Related Story: Long Live the King Comments (78)
  written by Wall Street Banker, March 03, 2007
Great comments. This is so true. Thai royal family are the main force pulling Thailand into a backward country. Thai king should back off. This is not a 1900's anymore.
 written by JB, March 03, 2007
You're talking out of your a**, Wall Street Banker. The facts of this article are not even true.
If you read the Bangkok Post or the Nation or any other Thai newspaper, you'll find that the Crown Property Bureau has been sued, criticized, and otherwise treated like any other agency. Even the King himself has criticized the CPB. So why don't you go tell the Prince of Wales to give up his estate instead of patronising Thais you wall street prick.
written by JB, March 03, 2007
Also, there is nothing illegal the CPB is doing. There are so many flaws with this article it is unbelievable. The way this information has been spun to incriminate the CPB is ridiculous.
As in the case of Somchai, he BRIBED the officials, and therefore, it is his own fault. In the case of the Bobae vendors, they are illegally doing business on public property. Their eviction is tied to the BMA's attempts to decrease the local Mafia's power. In the case of the coup, calling it "palace-backed" would be wrong, since the coup makers only asked for the palace's approval right after the coup. Being above politics, the King had to oblige. And lastly, may I repeat: THE CPB IS NOT PROTECTED BY ANY "ROYAL CLOAK." THE CPB IS REGULARLY CRITICIZED IN THE MAINSTREAM PRESS, AS IS THE RECENT CASE WITH THE NIGHT BAZAAR.
 written by Concerned Thai, March 03, 2007
Great article, another eye-opener for Thai people.
You can read this academic article by Prof.Porphant Ouyanont for detailed historical accounts of the economic role of CBP. Unfortunately it is still in Thai. Hope the author get it published in an international journal soon. http://www.bangkokbiznews.com/2006/special/bizNes/Porphant/Porphant .pdf
 written by ZORO, March 03, 2007
Thai king should start paying taxes and stop thinking that he owns the country. The fact is the king family is the richest family in Thailand probably South East Asia. His net worth is at least $10 billion USD. In term of land ownership alone, he owns 25% of all the prime area of Bangkok with the value around $8 billion USD already. If he really critisize the CPB, why don't he do something about it? He's essentially the sole owner of this corporation. He owes Thailand in more than $5 billion USD in back taxes. It's time for him to pay this back and start contributing to the soeciety instead of creating propaganda
 written by JK, March 03, 2007
nothing much, this article is only to be used for discrediting the CBP, and of course, the King. If the writer has studied deeply about the history of Thailand and know exactly how the CBP works, (s)he would understand better. Somchai's opinion could not be used to judge and conclude everything as written in this article at all.
Wall Street Banker and ZORO, you seem not to know anything well about Thailand. Better not show your stupidity!
 written by Observers, March 04, 2007
I don't qualified to comment on this article. But it seems like JB, JP, and Patriot are the guy that keep double postings to make his point credible. Peace for the world and Thailand.
written by Observers, March 04, 2007
I mean JB, JP, and Patriot are the same guy that keep double posting to make his/her points credible.
written by JB, March 04, 2007
Technically, Zoro, he does own the country.
The truth is, he really does not have much power. If you knew more about Thailand, you would know that he's told government officials to stop corruption: and the result? Corruption is still rampant. That just proves that with all his moral authority, people still choose to ignore him, and what can he do about that? Absolutely nothing because according to the constitution he is "above politics" and can have no day to day involvement in running the government. That is what parliamentary democracy is all about, Zoro. He technically owns everything in the country, but he can't do anything about it, can he? Saying he is the sole effective owner of the Crown Property Bureau is like saying the Crown Prosecution Service, or the Royal Mail, is directly under Queen Elizabeth's control. The thing about taxes is just stupid. BTW, I have no idea who JK is, if you'll look (therefore taking your head out of your ass) you'll find that when I've double posted, I haven't changed my name.
 written by Anti Coup, March 05, 2007
If this is true, just show you that the law and standard always has an exemption in another words, double standard or even triple standard.
 written by an educated Thai, March 05, 2007
The king himself is said to be a great guy with Buddhist's great characteristics. But the Royal institution and many people around the king are so corrupt. They have used the royal power to exploit Thai society for decades.
This article just shows one example of the exploitation. There are still many to be examined.
 written by Scholar in the US, March 05, 2007
100% agree with the article.
The 9th king is such a politician who make rich from the poor in Thailand. There are a lot of champaign and advertisement through TV, radio, newspapers about how good the royal familiy is. But the truth is opposite. I even think the 9th king is the 2nd Suddam available on earth!!
 written by Rojo, March 05, 2007
I'm finding it hard to shed any tears for "Somchai." Let's see. He's been living on prime real estate in central Bangkok for decades and paying $11 in rent. Imagine how much he would have to pay if the CPB charged him the market rate. Imagine how much he would have paid had he been charged market rates for the past several decades.
He admits to bribing a petty bureaucrat decades ago, and now is unhappy his little corrupt advantage can't be enforced ad infinitum. He says he has no security, that he can be kicked out at any time. Guess what? Most residential leases in Bangkok are for a year. Lease up? Landlord can kick you out. No security. And at the moment, no one is kicking him out. He just wants to make a deal on selling his house and doesn't like the rate he has to pay the CPB - which is indeed quite high. Okay, let's give him a different deal. Don't pay the CPB the 75% of the sale. Instead, pay them the market rate rent on your property for the past 30 years. Where in this article is a voice that gives the CPB's side of the story? Where is the balance that any piece of solid journalism should have? This is just another AsiaSentinel hatchet job. This website's approach to covering Thailand is a disgrace. It's sole slant is that the monarchy is the root of all evil in this country. That's not only incredibly wrong, it's incredibly childish.
 written by TKNS1, March 06, 2007
This is a very useful information. But, too bad the Thai people never have a chance to read this article in Thai. Let the truth speak for itself.
P.S. I totally agree with Patiwatp's comment, if you are the same person with Patiwat @ TKNS in wigipedia. I just wonder, how come the Thai guys who have never read TKNS have credibility, integrity, and knowledge to edit both Eng, Thai pages. They are so ignorant.
 written by X, March 06, 2007
Great article. Deserved to be publicized to all Thai people. I think people should be able to judge for themselves on these issues and don't necessarily need to be told by idiots like JK, JB, or whomever.
Ah ... and speaking of that Switzerland-based Hotel/Resort Kempinski, they also do have a high-end hotel in Dubai. The involvement of the Thai royal family with this company has been independently reported by the world-renowed journalist Cindy Adams of the New York Post, who also claimed a very close tie to the Thai Queen. oooooooooooooooooooooo So much for the sufficiency economy, don't you think?
 written by Downunder, March 06, 2007
Interesting article - but nothing new that has not been debated and written in Thai for decades! It is also clearly and well articulated from a foreigner's perspective - but without knowledge of the specifics of Thai culture and practices. Thus, as a Thai, this is only a biased, one-sided account. To give the author the benefit of the doubt, it is merely another gross misunderstanding of Thailand - with no ill intentions or hidden agenda... I would urge the author to learn the Thai language so he can get a clearer picture and present a more accurate (and fair) account.
 written by Jabroni, March 07, 2007
Unfortunately the media and critical public debate is so censored in Thailand that articles like this would never be published within Thailand. As you can see by recent events the military in conjunction with the Royal family have a tight reign over every aspect of public and private life in Thailand. They control everything from investment, the media, and culture. It's refreshing to see media outside Thailand offer viewpoints aside from the usual sycophantic claptrap in the Thai media. Hopefully, one day Thai people will wake up and create a true democracy for the people by the people but I doubt it.
 written by I am Thai, March 09, 2007
This article is not true.
All Thai knew that people who stay on CPB 's land doesn't have a right to claim for the land, they can stay as long as the contract state which is more than 10 years. During the time they stay , they pay very cheap rental rate on the land which can generate income more than 100 time of their rantal fee. When the contract end or in case CPB want to get the land back , CPB pay compensation to them. Somchai, person on this article should be appreciate for opportunity which he got for living and get benefit on the land. The king pay more than Tax to Thai people , he gave a lot of opportunity for sustain growth and wealth to thai people. I have never seen the king from another country work harder than my king, you can go to see the king's project for Thai people at http://www.kanchanapisek.or.th...x.en.html. Please don't give one side or bias information to destroy another person
 written by patiwat's real self, March 09, 2007
To those of you who insist on believing Mr Handley, and insist on associating the military and the monarchy on links as tenuous as the letter in which both words begin: have you noticed how the King has always signed draft laws into law? So far, this King has only let one law go unsigned--and that was because of a typo.
Mr Handley, may I invite you to investigate President Kennedy's assassination seeing as your skills in "investigative journalism" abounds, and take your best friend Patiwat as well. He seems well acquainted with sniffing for clues and digging up dirt. Sadly, he won't find a bone.
 written by patiwatp, March 15, 2007
Somebody claiming to be "patiwat's real self" claims that the King has "always" signed draft laws into law, regardless of their content.
Unfortunately, this is not true. Most recently, the King refused to approve the appointment of a replacement for Auditor-General Jaruvan Maintaka, despite the Constitutional Court's ruling that her original appointment was illegal. Some other vetoes include his 1976 refusal to sign a law authorizing local democratic elections and his 1954 veto against land reform. The land reform bill was particularly interesting because it is relevant to this article - the vetoed bill would have prevented anybody from owning more than 50 rai of land. The issue went away when General Sarit overthrew the government. Whether Sarit was a tool for the King (as Handley believes) or whether the King was a tool for Sarit (as Thak Chaloemtiarana believes) is still hotly debated today.
 written by Poor Girl, March 18, 2007
I'd like an article tracing The Blue Diamond Case which a Thai guy took from the Saudi Royal. ( Thai Royal Family should be shamed on this.) There're eveidence to prove that they still keep the stolen diamonds. Recently, all countries which have Royal, they all sent the represetatives to celebrate Thai King's Anniversary except for Saudi. Also, all Thai medias dares not to mention this point. FYI, some of Saudi Ambassador were killed during the tracing on diamond case and Thai police can't investigate or do anything better than shutting their mounts. Some said this cursed blue diamond never stop causing disaster to anyone, any places it belongs. Apparently, all member of Thai Royal Family have been faced with tragedy, nobody is happy with thier wealthy as they' re supposed to. My conclusion is how come the thai children growing within the shadow of their father who is obviously walking on the cheating way.
 written by Coolhand, March 26, 2007
I am deligthed to notice that there are Thai nationals reading news about their own country through foreign media. Whether everyone agrees on the article is a different issue. Observing your own country from overseas is a real eye opener, if more people followed the practice there would be a lot less recknecks walking around the world.
 written by Bhaytai Thepnimit, April 06, 2007
A distorted piece and a shame on investigative journalism! Thailand is a free market economy, and as such landlords do have people removed from their property. The guy had rights as a tenant, but none to claim ownership. The same applies elsewhere in the world. Just because you’ve paid cheap rent for years mean you are entitled to own the property? I’ll try that next time I travel to Western countries. And other claims? Based on the logic of the opening argument, give me a break!
And the mentioning of sufficiancy economy is laughable. The writer is obviously both biased and clueless. However, write and propagate as you wish. Most Thais don’t give you much thought beyond passing amusement at your arrogance and, paradoxically, ignorance. And foreigners can belief what you wish too. It’s a free world after all.
 written by A thai in Thaialnd, April 06, 2007
One thing I don't like is the propaganda to enforce the public that Thai King is Buddha. And his sufficency economy is the same as Buddhism.
All thai medias broadcast that with 14,000 baht for the 2007 budget, and the 60,000 budget of virtue by the Coup this year (on thai TVs nowadays) should be made to make people's life better instead.
written by I am Thai, April 07, 2007
Unfortunately for " A thai in Thailand ".
Even u are Thai,Stay in Thai and can understand english well but I feel sad to know u can't understand your own languge and Buddhism nation religion. Noone in Thai try to enforce the public to believe that the king is Buddha. They only try to let people know what is sufficency economy and try to push people to use this way becasue last goverment use materialism to encorage people to spend money. And because of too much spend money to buy nonsence and non neccessary thing such as people who get salary 15000 Baht , they have 2 mobiles cost more than 20000 Baht/pcs. Data from Thailand national statistic organization , on year 2005 average family debt increase to 88,314 Baht and average income per family is only 13,418 Baht Sufficency economy is the way for people to think carefully before use , spend or invest in anything. This way is just like moderate practice , golden mean of Buddha. Noone enforce the king is Budha. For media broadcast , please go back to read more in detail better than just drop suck ( not such ) comment like this to make foreiner misunderstood about your country. Are u really Thai ?
 written by Jack, April 10, 2007
What Bangkok needs is more green spaces, clean canals and light rail, as well as cleaner air and less traffic, not more malls and hotels. In their ill-informed greed and incompetence, Thai businesses (not only the CLB) is building more and more empty skyscrapers, high-maintenance hotel rooms no sane tourist or business traveller wants to pay for and tenant-free malls, while Thai common folk continue shopping in street markets, eating from mobile kitchens and living in slum huts. I know a middle class Thai-Chinese family who lives on "the King's land" (as they told me) in Klong Toye and could easily afford to move into a 5-unit apartment house they own in Bangna. They prefer to live rent free in the slum hut and make money from their tenants in Bangna. But oh, TIT: This is Thailand!
 written by ATHAIHISTORIAN, April 10, 2007
So What? Thailand's situation is totally different from France or Russia.
It's not unsual for this as Thai Monarchy was not toppled or declared 'tyranny' as French King. The fact is the leaders of the 1932 'revolution' negotiated with the monarch...of coz, they could not absolutely encounter the royal strikeback. So since 1932, the 'Old leader' and 'New leaders', new generation of businessmen or so-called 'politicians', have shared and contested Thailand's wealth with jealousy. You kbow what, big businessmen here 'bought' royal medals. They also wanted to be sort of new 'nobles' eventually.
written by FROM THAILAND, NOT ROYALIST, April 10, 2007
Thai king is a part of Thai society. the dynasty is of course a family. He and his family have obtained legal right, guaranteed in the Constitutions and laws. Yet, He and his family have no right to vote.
I think people should understand the kingship and others regime in its own context and background without 'prejudice'; KINGSHIP IS DEVIL..etc. just a prejudice.
 written by Terry, April 10, 2007
For "I am Thai"
I can say that I am thai too, with pretty sufficient english skill. Let me ask you this, while our king come out and tell us to save and believe in the sufficient economy or whatever he called, then, why all of his children and grand-children spend a whopping million of dollar a year??? Oh and incase you dont know about the average family debt, Thaksin pull all the "out-side-the-system" debt into the system so that people will be treat fairly, that is to say before a poor farmer had to go and borrow from a mafia with 80%-100% interest. Thaksin pull all those into the government banks and reduce the rate to 1%-5% depend on cases. That is why you see the debt increase dramatically.(incase you come back and read the comment again) Many thais who are posting here are still backing the king, I think all of you who are still backing him ingored one fact, why on earth are we having coup once every 7 years?? There are something really wrong with our country, and that thing is our political system foundation as a whole. I felt very pitty for many thais who are not even understand the main purpose of this article, what a shame.
 written by Rick, April 12, 2007
Whether the Thai King and Royal family's wealth is estimated at $10B USD or more should not be debated by anyone and all the more so by any foreigner. I'm a non-thai and generally feel that the king is deserving of the wealth he has since he has been on the throne for 60 years and has made tremendously substantial contributions to his beloved people and country.
 written by EJ Sirivong na Ayuthaya, April 13, 2007
Some foreign journalists are always quick to scrutinize other countries, just to make themselves "credible" in the industry!
Thank the Thai King for allowing foreign journalists to enter the Land of Smiles without charging you any taxes!
 written by Nednapha, April 13, 2007
My own experience once I have to sell my house which is nearby this Land to escape from drugs and so many bad things. This Land is not for people to live but even a dog can't survive. If they would offer me for free, my answer is No Way !!! How come they make money from this very poor Thai.
The King himself is really not happy with his wealth, wife and also children, grand children except for his beloved dogs. The Untouchable Royal, they'll never realized the meaning of LIFE. What they have done seem to be useful for Thai but this is just illusion from God Like King which most Thai are too innocent to learn because of some religious complications. But I realized that no miracle to help us from these devils.
 written by Nareeporn Vachananda, April 24, 2007
What sort of news article is this withour the name of "your correspondent". An opinion without the authorship is not worth sharing.
It is not really fair is it that you stated criticism to only one side. Being a journalist, you should have known. Then there's "Scholar in the US" that says the King is 2nd Saddam Hussein available. How can you miss George Bush, Dick Cheney et al, Scholar? The King has been giving pardon to convicted criminals in deathrow. These guys went out there to kill women and children in Iraq...go figure...if you know how to!
 written by wake up, May 01, 2007
We all live on one planet. Everything on it is shared and able to be criticised and commented upon by each and every one of us, especially a king living on a small plot of land called Thailand. Just because the education system and daily media rituals inspire a near obsessive acceptance of the king's immortality among the population, it doesn't actually mean he is immortal or beyond critique. It is all the more important for people both inside and outside of Thailand to reject the nationalists and their very poor imagination.
 written by RW, May 11, 2007
:JB
Please provide one specific article with criticism of the CPB from the Thai media. Having read Thai papers for a long time, I have yet to see an article that dares to criticise. Also, please give specific details of HM The King criticising the CPB. Your attitude and language suggest yet another person sticking his fingers in his ears and screaming "It's all a conspiracy" when the truth comes along.
 written by RW, May 11, 2007
Sorry I just had to respond to JB's comment "He doesn't really have much power"
Sir, what planet do you live on? HM is protected by rigorous Lese Majesete laws he could repel any time. Thousands prostate themselves at his feet wherever he goes in Thailand. His palace owns the CPB. He is one of the richest men in the world. He must sign every bill and approve every PM before it can become law. His privy council have very close connections with powerful political figures and Prem was in an audience with the king at the time the coup was taking place. HM The King's birthday speech is diligently studied every year so people can read into it and take the appropriate actions. His TV appearance in 1992 stopped the bloodshed and potential disaster in seconds, something nobody else in the country had managed to do over any time scale. Ask anyone in Thailand "Who is the most powerful person in this country" you know the answer you will get. Every constitution opens by naming HM as the most powerful person. "Not much power?" You totally discredited yourself. Because he says "stop corruption" and it doesn't stop and using that to say he doesn't have much power is like saying he doesn't have much power because he can't stop day turning into night. No human being can stop greed, especially not in a region with systematic corruption. In any case, please can you provide the specifics of the speech where he ordered every politician to "stop corruption"? You seem very good at blurting uncited facts. I have great disagreements with Patiwat over his political views but he has said nothing incorrect on here. The comparison with Elizabeth's Royal Mail is not relevent as that is state funded, it does not reap billions into a royal purse, if it did, it would be a public outcry. To the Thais screaming abuse with reason or articulation, you are simply exposing "the truth hurts".
 written by Anong, May 13, 2007
It's so sad to learn more about Thai Royal activity involves Finance again, they let down so many innocent Thai people, don't they? It's time Thai people wake up and smell the roses.
 written by RW, May 18, 2007
In reply to some of the comments by Bhaytai Thepnimit (unusual sounding name, almost like a foreigner trying to make up a Thai name). I will respond to this poster because it echoes the style of a few other posts.
“The guy had rights as a tenant, but none to claim ownership. The same applies elsewhere in the world. Just because you’ve paid cheap rent for years mean you are entitled to own the property? I’ll try that next time I travel to Western countries” If you read properly, you'll see there was no suggestion that he should be given ownership. It was simply implied that it wasn't fair taking almost all the profits from a house the man built himself. Admittedly, it's not the best opening diatribe but you still twisted it. “And other claims? Based on the logic of the opening argument, give me a break!” Well yes. I mean the multitude of documented and correct facts concerning the CPB that would cause great concern must be hard to argue against. I guess a throwaway, cop-out comment like yours is all you can do. “And the mentioning of sufficiancy economy is laughable. The writer is obviously both biased and clueless.” I don’t think he is the ‘biased and clueless’ one. I am well versed in sufficiency economy. My friend has a masters degree in Economics. We both know the theory as it is supposedly being applied to Thailand is simply non existent. There is no model, no specifics and no detail, just the name. The Economist magazine called it "new age waffle” and was right. Could you - or anyone else on here who mentions it - explain how the owner of one of the largest precious stones in the world who also happens to be one of the richest men in the world and also is the sole peruser of the accounts of the billion baht mustering CPB - a group that uses very aggressive business tactics to maximise profits - truly apply he sufficiency economy concept? “Most Thais don’t give you much thought beyond passing amusement.” Nonsense. A proportion of Thais cannot read English at this level. Those that can usually have sites like these blocked. This article is the exception but someone here has already said he requested it to be removed. Those that do read react in the emotional ways we have seen below. Yes there are a few brave and notable exceptions but it is utter nonsense to say "most Thais have mild amusement' there is no such thing as a discussion on The King without strong emotions for Thai people. Nobody is saying HM The King is bad or the CPB is the root of all evil, but these are facts and people have a right to know the truth, even if you don't want to hear true facts, they can be annoyingly persistent. I suspect you are jb under a different name but it really doesn't matter anyway. You are simply another person arguing against hard facts and evidence with throwaway nonsense, made up facts and polemics. I guess when you KNOW you are wrong and all the evidence shows it, you have nothing else to go on.
 written by tak, June 02, 2007
A Warning Note to British Friends
Bangkok, 31 May 2007 The recent bid by Thaksin Shinawatra, the ousted Prime Minister of Thailand, to buy Manchester City FC seem to be a news enthusiatically received by the club's fans and the British citizen. Reasonable enough for the fans to be optimistic about the attempt, but there are many things for them to think and they should convince many to be very careful. Thaksin was and is a corrupt businessman. The fact that he was so successful in business stemmed not only from his talent but more so from brilliant and plans of corruption. His wealth came from a cellular phone service contract with the Thai government in 19... The deal gave Thaksin a grace period of 5 years giving him a monopoly on cellular phone service, a fixed and most expensive rate on calls, and tax free period. Such agreement was made possible only through a wicked arrangement and graft. A few years after that, he became the richest man in Thailand. We all paid for him. The genius of Thaksin, therefore, was and is in corruption and not in honest business management skill.
 written by TH, June 03, 2007
'The Silom Club, an 89-year-old sports club that some regard as a historical monument, will also be turned into a high-rise.'
Where exactly is that Silom Club? Do you mean the British Club Bangkok instead?
 written by Thakzin China-wat, June 20, 2007
This is a superb article. Thailand still retains many aspects of a feudal society. It is true that Thaksin was a greedy baron who tried to seize power from the legitimate rulers. However, at the same time, he was a modernizing influence. Is Thailand truly afraid of Thaksin because he is a greedy baron or b'coz this greedy baron was bringing us out to the lights of Renaissance? For every dude knows, light tends to hurt the eyes.
Also, I think the CPB should take it easy. The owner is already rich and doesn't need more money. Let the poor Chinese family live on these lands for cheap. They are so attached to the land. We must have sympathy for them. As the Chinese philosopher Wang Chien once said to Emperor T'ang Tai Tsung "The Emperor is like a ship, the people are like the waters. The water that can support the ship can also drown it." I'm not saying anything will happen. I think we should all lay it easy, charge cheap rates, and let the ppl continue to love the Emperor. What more is a few more satangs to the billions the Awesome One already has? Show us that CPB is more generous than money-grubbing Thaksin.
 written by SU, June 29, 2007
All the land has been passed on from the former kings. People chose to live on pay cheap rent rather than buying their own land. Most of the good locations in Bangkok has been developed except those pieces of land of the King are still undeveloped because the king does not have intention of make money from those land. See the point. Now, the time has changed, enviroment has changed, the usage of the land must be changed accordingly. It needs new development plan. The author should study the whole subject completely before accusing anyone. Again this is one-sided story I have heard from westerners. Why don't you study the whole subject thoroughly before you make any comments. So tired of this kind of comments.
 written by Mixcultured, July 21, 2007
First of all, after living in Thailand, I'd like to say the Thais are a whole lot smarter than they get credit for. They have observed the King for 60 years, and they do know what's going on much more so than we do of our own filtered news. In fact, some Thai news is far more open than US news I must admit. However, crap sells in any country, so Britney and Madonna kissing sells just like ladyboys fainting en masse at a concert.
Every country has its failings, and Thailand is no exception. Among them are flip floping agendas and political figures. Thailand has managed to take decent care of its people, despite its monetary hardships. However, I must say its biggest failing is the "handout mentality", not poverty. What I am seeing not only for Thai, but all Asians when attacked say "You don't understand our culture", and Westerners say "You are not open or you are blind". Both are right, and both are wrong. It's just a matter of view. Let me explain. Press in Thailand will never say certain things, its true. But I have never heard some things in US press either. It doesn't mean Americans don't think about them, and it doesn't mean Thais don't think about them just cuz they aren't published. However, "you don't understand our culture" may hold for certain things, but sometimes cultural understanding isn't needed. Things are just obvious from different angles. But I admit, despite culture, people are the same, and an a$$ is an a$$ anywhere. What's clearly evident is people with a lot of power is/are screwing the nation. But there are much more to Asian systems than meets the eye. The King obviously has a lot of power in public. In private, this may not be the case. Lese Majeste laws are not used as you may think. In Thailand, they are used by politicians to eliminate their opponents, much as the word "terrorism" is used in the USA. In 1700's Japan, the Emperor was overpowered by the Shogun Tokugawa, but even the Shogun was overpowered by Mitsui, the most prominent and richest banker. It only goes to show power depends on a lot of factors, and there is a lot of power sharing, and a ton of power struggles. The Royal family may have an agenda, saying they are the root of it all is a gross oversimplification.
 written by Troubled farang, July 25, 2007
I don't think it is too widely known but the COO of the CPB is an American of a certain religion known for its pecuniary acumen. He is the one who is shaking the CPB into the modern world and making rents commercially viable.
 written by Chamni, July 28, 2007
Keep saying 'corrupt.. corrupt' with no providence. Get sick of it! Stupid Thais!
 written by I'm pround to be Thai, August 02, 2007
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 written by iam thai, August 24, 2007
A Thai are his slaeve.So he dont' want them to better,or more develope as it would let his power down. He don't want to lose "a power of god" in his hand......that's why
 written by Arthur Borges, August 30, 2007
I have to agree 100% with your fudge about: "if (King) Bhumibol were a mere man...then ordinary Thais might ask how it came to be that one family managed to grab so much land"
I am a mere man, and if I managed to grab millions overnight, people would be very rightly entitled to wonder where I got it. So what? You want the king dethroned? So does Thaksin. You want Thailand governed by McDonalds and the IMF? Thais don't.
 written by Jasmin, September 03, 2007
Thais must worship the royal doubtless!
That's what they do here.. they have no choice. but i like this article though
written by Arthur Borges, September 04, 2007
You mean the leading US weekly that published all that "proof" of WMD in Iraq?
And if it's 8 bln, then we can imagine 16 but if it's only 2, does that make 4?
 written by Expat, September 11, 2007
"they are not 100% Thai most of them are half breed,"
And that's Thailand for you in a nutshell--the single most unthinkingly racist place I've ever worked.
 written by Tanya, September 19, 2007
All I can say NO ONE is perfect or pure in this world and there is definitely no exception for the King. Thais have only been fed the good sides of him and his family. There must be a catch somewhere. Like we all know, if it's too good to be true, it probably is.
I personally feel that no royal figure should have the right to own this much property and make money from it in his/her country, same goes as all those big shares in all kinds of businesses. And I totally agree with 'If the king was a mere man...', yes, he would be treated exactly the same as Thaksin.
 written by gaudiefreak, October 13, 2007
It's predictable that many Thai responses to this article about the Crown Property Bureau, and king Bhumibol who largely directs it, mouth the same lines they have been brainwashed to say by the "monarchy inc' propoganda machine.
Of course they love their king and of course they don't want to hear a bad word about him - even if it happens to be the truth. They often point to the "wonderful" and compassionate things the king has done for his country. The fact that he doesn't even pay tax is overlooked. The fact that the monarchy sided in the late fifties with Sarit, a brutal torturer, a vain womaniser, a well known opium dealer, and an unabashed fascist dictator...is also conveniently overlooked. The fact that the king has in the past supported fascist military regimes at the expense of democracy in Thailand is overlooked in favour of viewing him instead as a 'defender of democracy'. Yet, as the article points out so accurately, criticism or scrutiny of the king's business dealings are never mentioned for fear of persecution under the severe, blatantly 'undemocratic' lesse majeste laws. When Nobel Peace laureates convened in Bangkok in the late 1990's to show solidarity for Aung San Suu Kyi, the imprisoned Burmese pro-democracy leader, they happened to have a private audience with Bhumibol. They were shocked to hear him mouth the Burmese military junta's line, almost verbatim: that the military dictatorship was the best form of government for Burma, and Aung San Suu Kyi should go back to England where she belonged because she was married to a foreigner and therefore no longer understood the Burmese people. This was the comment mentioned by Thailand's "great defender of democracy". The great "dammarajah", the Buddha 'god-king' of Thailand was supporting a regime that tortures, imprisons and kills Buddhist monks. And why? The companies, Siam Cement Group, and the other one, PPT, that is largely owned by the Thai monarchy, has extensive business dealings with this regime that bashes monks - these thugs that allow no-one to stand in the way of their personal greed. Indeed, only days after the brutal crackdown by the Burmnese military on pro-democracy protestors, the company (is it PPT, or PPI) owned mainly by the Crown Property Bureau said plans to go ahead in business deals with the regime regarding gas purchases would not be affected by the 'current instability' in Myanmar. Where are these people's ethics in their business connections? Where is the morality? Is the desire for money greater than any other ethical considerations by the Thai monarchy? Yet no-one dares say a bleeding thing about it - and all because of those blatantly undemocratic lesse majeste laws. It's all rotten to the core. The Thai people don't want to hear the truth about their 'beloved king' because they are forever fed the royal propoganda - those ubiquitous pictures of the king everywhere "doing good things" for the people. Have they ever stopped to wonder why there are so many pictures and photos of the king "doing good things"? It's all part of the contrived cultivation of a personality cult, purposely orchestrated by the monarchy, themselves to preserve their own power - often at the expense of democracy. It's sick....and what makes it so perverse is the image of piety that seeks to conceal it. The really sad aspect to it all is the Thai people fell for it, hook line and sinker. Maybe it's time for the Thai people to open their eyes and start accessing the historical facts - not the propaganda fed via the royalist Ministry of Education. But it won't happen....they're too far gone with a mindless adoration for a fairy-tale king.
 written by bored of xenophobic thai's, December 17, 2007
More ranting from racist xenophobic thai people who think that the royal family are untouchable gods...............so boring
get over it be fun when the kings son takes over. then you will see that he is far from holy... good friends with taksin and a private life that leaves a lot to be desired. good luck!
 written by We're not all stupid(eventhoug, February 29, 2008
I'm a Thai and have lived here all my life. I love it here but I don't like the system.
Thanks for the artical. For the Thai to realize this, let's wait until Thailand has a new King... Let's see what happens.. Will you all right wing supporter will stick to what you strongly believe? "Power tends to corrupt, Absolute power corrupts absolutely" Lord Acton
 written by Frank G Anderson, June 18, 2008
18 June 2008
While many foreigners are ignorant of "truths" in Thailand, it's fair to say that most Thais are either blind, fearful or apathetic and on top of that, brainwashed. So is everyone else in the world to a certain extent, but when people put up comments let's not grow childishly indignant and start name-calling or begging the question in hyper-xenophobic irrational anger. Find a hole in the argument, expose it. But if it is different than what you think, take some advice from Chotisak (brave man) and don't start ranting and raving because someone else thinks differently. Sure, this is Thailand - but don't call it the Land of the Free. It is not.
 written by world citizen, December 13, 2008
1. CPB is not defined as state/government entiyy, where certain part of benefit is required to remit back to state coffer. But CPB also is not taxable entiry anyway. And Thai people is manipulated to see CPB as a charity entity. Actually, CPB is for-sufficient-profit organization, with strong image and CSR.
2. When the king is doubted and questioned, these well behaved citizen turn emotionally rude. This is far from rationale. Just similar to those Christian back some 10 centuries ago when asked about God existence. In Thailand, this kind of irrationale is so young and to be tested by time.
written by loxias, March 08, 2010  that was a very good topic. i lived there 9 years, and yes thais threaten you as soon as u start critisizing the royal family .. they are completely brainwashed. it is the king who order the coup d'etat in 2005. his son is an idiot who rapped and abused people ... their smile is just fake. they think other people are lower than them but actually they have a IQ of 80 ( at unviversity) gilles umpakorn " a coup for the rich"
written by loxias, March 08, 2010
i read the rest of the comments and it is so horrible to see how thais bullied and insult you if you dare saying something bad abt their beloved king ... pavlov dogs ! They had no choice but to follow the sheeps ...
written by loxias, March 08, 2010
dont forget that bangkok was founded by a king from this chakra dynasty ...it's his town ! amazing ....
never forget that you cant just talk with thais , they are completely brainwashed .. i remember a thai girl coming to me and telling me "the king is so handsome" !! he is more than 80 years old, come on !! " foreigners are needed but not welcome, tolerated but not wanted"
written by Jimbo Stone, May 18, 2010
I particularly liked the video of the prince making the princess walk around topless for his dog's birthday or whatever it was. Now that is leadership material. It's a good thing he has all that money and power. He sure knows how to use it wisely. A chip off the old block. Really.
written by kampon, May 31, 2010
if i know the author,i will ask him" So what?"
You know the word king? We been living peacefully for many years under his royal highness,Doesnt that tell you we have the right to support one we love? Taksin cant be compared to him!the tyrant just cheat everyone he can get his hands on. I doubt this article is just one vain effort of the tyrant to fight against his crime. Ask the british to doubt their Queen! Stop poking your nose into other people's lives and dont believe the media!
written by Kaotang, September 10, 2010
As a Thai, I'm so embarrassed of your shallow close-minded comments.
If this article (or the fact that the Queen sides with Sonthi Lim by going to that yellow girl's funeral) didn't make you to stop to think for yourselves, instead of just believing whatever the propaganda's been dictating to you for the last 60 years, then I guess nothing will. It's so illogical to say "There are many enemies of the king among foreigners because they are freer in their own countries to express the feelings. Thus, all the negative stuffs are written and accepted as facts." Why on earth would it be interesting to many foreign scholars or journalists to destroy the Thai monarchy? It's the same kind of interest for when you see Thai news features injustice in some other countries like Burma. You are right in one thing though "Like in all families, differences are normal and understandable.So the king 's family is no difference.", which means you have the basic understanding that the Thai monarchy are human and hence they can do wrong like any other people. The fact that the propaganda machine keeps feeding you how godlike they are, they are only human. You definitely do not have the right to say "We been living peacefully for many years under his royal highness ..." as in to include all Thais. From the last demonstration, obviously people are not happy for a long time. I actually never supported the ex-PM Thaksin until recently just because the accusation gets so ridiculous that a normal human brain should process it differently. And really, have you ever talked to people in "the proverty- stricken Isarn"? Only a few years with Thaksin's policy, their lives were much more better, comparing to 60 years of "Royal Projects". If both sides are corrupted, wouldn't you choose the one that at least improve your life??
 written by Real , June 02, 2012
Hello all good comment about Thai King and bad comment about Thai King after I read all comment properly , I get it because some comment complain The King and still Compare with Thaksin ..... Really who complain The King they don't know anything and real story I mean Projects of Thai King , and His idea and another country can't compare Thai Politics because if you are Thai then you get to Know well if think How much The king do for Thai people I can said 100 score and How much for Thaksin just 3 score enough and if someone still don't believe or don't understand Well can ask me anything I had so many nice story about The King for open your eyes and attitude and reason of Thai economy
Not develop too fast and if you still thinking about economic not develop because of The king too please Read Thai Law Properly first because MY LAW different from your LAW and If some thai complain THE KING , let you think by yourself that which group you support and what do you want for make mistake to Foreign , ok I show you abit thing one project the king do for us by .....http://www.youtube.com/watch?v=j7bZUct3tM4. and if I have so many Project of The King report and information. then so many project of Thaskin know how to spend Thai people money Then not success all story I said real from Political student of RU University , Number 1 about Law in Thai
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A man, let’s call him Somchai, lives in a prime location in
central Bangkok.
Now in his sixties, Somchai designed and built his house himself nearly 30
years ago. He doesn’t own the land, but he only pays about 400 baht ($11) in
rent to his landlord.
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However, the map shown in Part 1 is a bit misrepresentative - it doesn't actually say which areas are owned by the CPB, so it falsely implies that everything on the map is CPB land.
Also, the $2-8 billion estimate for the King's wealth was taken from a 6 December 1999 report in Time magazine. After 8 years, I would have expected a significant appreciation in wealth.