Thai PM declares millions in watches and bags among $400m assets ...Middle East

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Paetongtarn, the youngest daughter of telecom billionaire and ex-prime minister Thaksin Shinawatra, took office in September as the fourth member of the clan to lead a Thai government in 20 years.

She identified 13.8 billion baht ($400 million) in assets, a document posted on media websites showed.

Her other assets included 75 watches valued at 162 million baht and 39 more timepieces, plus 217 handbags worth 76 million baht, as well as property in London and Japan among other holdings.

A representative from the Pheu Thai Party confirmed to AFP that the figures reported by Thai media were accurate.

Thaksin used the wealth generated by his Shin Corp telecommunications empire to propel him into politics, and his family has remained influential even during his years in exile following his ousting in a coup.

“In a nation without a fully functioning democracy, money plays a crucial role in political activities,“ Yuttaporn Issarachai of Sukhothai Thammathirat University told AFP.

Paetongtarn’s immediate predecessor as premier, Srettha Thavisin, declared assets of 985 million baht when he was dismissed by Thailand’s constitutional court in August -- down from 1.02 billion baht at the start of his term.

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