Thai First Son Throw his Father in Trouble

Thai first son, Phantongtae Shinawatra's indiscipline may put his Father Thaksin Shinawatra in trouble, as the later has stripped of his Parliament to warrant national elections within two months. Reuters' report via CNN international reported:

Thai Prime Minister Thaksin Shinawatra's son broke stock disclosure laws before the $1.9 billion sale last month of the telecommunications empire his father founded, Thai regulators have said.

Phantongtae Shinawatra, 27, also violated tender offer rules in the run-up to the sale of 49.6 percent of Shin Corp to Singapore state investment firm Temasek Holdings, the Securities and Exchange Commission said on Thursday.

"The violations are not serious enough to press criminal charges," SEC Secretary General Thirachai Phuavanatnaranubala told reporters after a month-long probe into the deal, but Phantongtae is likely to face a fine.

The guy is too young to steer his father's Empire.


Related links:
Thailand PM Thaksin dissolves parliament
Thaksin 'to call early Thai poll'
Thai Shares Climb Friday


Technorati tags: Politics, Thailand, Shinawatra, Thaksin, Shin Corp, Singapore