Panthongtae Shinawatra
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Panthongtae Shinawatra (born December 2, 1979) (Thai: ), nickname Oak, is the only son of Thai Prime Minister Thaksin Shinawatra.
He became a billionaire after having had a large portion of his father's stock in Shin Corporation transferred to him shortly before Thaksin ascended to the position of prime minister.
Panthongtae first attended Thammasat University and then transferred to Ramkhamhaeng University in 2000, where he studied political science. In August 2002, his studies attracted media attention when he was accused of cheating in an exam[link]. 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 automatically failed the political science subject he was sitting[link]. He graduated with a bachelor's degree in 2003.
A photographer, Panthongtae has founded a production company called How Come Entertainment, which gained an exclusive advertising contract for the Bangkok Metro.[link]
In early 2006, Panthongtae found himself in trouble again after 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[link].
"The case is not severe because Panthongtae did inform the SEC but his report was not totally correct," said the Thailand Securities and Exchange Commission's deputy chief Prasong Vinaiphat[link]. He was fined 5.982 million baht (about 150,000USD) for three violations of the Securities and Exchange Act.
References
- ["Premier's son graduates"], The Nation, June 24, 2003.
- ["The How Come deal"], 2bangkok.com.
- ["Panthongtae breached reporting regulations - SEC"], The Nation, February 24, 2006.
External link
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