Thai PM-in-waiting disposes shares in media company

Pita Limjaroenrat, the Move Forward Party leader, disclosed yesterday that he had transferred his shares in the now-defunct Thai media firm iTV Plc to another heir in a move seen as an effort to clear any impediment in his quest for the prime ministership.

The 42-year-old Pita who is the leading contender for the prime ministership after his party pulled a stunning victory in Thailand’s May 14 general election said he is prepared to fight ‘politically motivated’ media share case.

Days before the election Ruangkrai Leekitwatana, a candidate from the Palang Pracharath Party-List, called on the Election Commission to investigate Pita's eligibility to contest as the Thai constitution prohibits those holding shares in media companies from contesting in elections.

Pita (above) explained that the shares in iTV Plc were registered in his name because the court had appointed him as the administrator representing other heirs of his late father, who passed away in 2006.

He said iTV ceased operations in 2007 and was later delisted from the Stock Exchange of Thailand in 2014.

“While facing numerous suspicions, I decided to discuss with the heirs who had entrusted me with holding iTV shares which were inherited from my late father on their behalf.

“We came to the decision that transferring the shares to other heirs would help avoid complications during the ongoing process of revitalising iTV,” he wrote on Facebook.

Favourable number

After winning 151 seats in the May 14 general election and garnering more than 14.2 million votes, Move Forward Party and seven other parties cobbled together a coalition with 313 of the 500 seats in the House of Representatives.

Despite the favourable number, there is no guarantee that the Move Forward Party-led coalition will be able to form a government. The Pita-led coalition needs to secure another 64 votes.

Getting the required numbers may not be easy for Pita because apart from the 500 elected representatives, another 250 senators appointed by Prime Minister Prayuth Chan o-cha’s military government after the 2014 coup also have a say in appointing the prime minister. The senators have a record of siding with army-backed parties.

Meanwhile, the eight-party coalition that hopes to form the next government has set up additional five working groups to cover more issues including digital economy, corruption, land reform, and public health.

To date, a total of 12 working groups have been set up to address various issues.

"I have a chance to form a new government, I must work in advance,” Pita said.

- Bernama