Thai PM candidate Pitha clears air over ITV shares controversy

Photo Courtesy Sanook

Pitha Limcharoenrat, head of Thailand’s progressive party, Move Forward Party, and candidate for prime minister, has refuted allegations surrounding his ownership of shares in ITV Plc. Ruangkrai Leekijwattana recently claimed to have discovered that Pitha holds 42,000 shares in ITV Plc, and has called for the Election Commission of Thailand (ECT) to investigate the matter.

The situation is significant as the constitution, specifically Article 98(3), prohibits individuals who own or hold shares in print media or mass media businesses from running for office in the House of Representatives. Pitha plans to file a letter with the ECT on May 10 regarding this matter.

In response, Pitha Limcharoenrat, leader of the Move Forward Party and a candidate for prime minister, clarified on his personal Twitter account that he does not own the shares in question. Instead, he explained that the shares belong to a trust, and he only serves as the fund manager of the trust. He added that the National Broadcasting and Telecommunications Commission (NBTC) had been informed of this situation long ago reports Sanook.

Pitha stated that he is not concerned about the ITV shares, as they are not his but rather belong to the trust. He has been serving as the fund manager and consulted and informed the NBTC of this long ago. The party’s legal team is prepared to explain the situation to the ECT should they receive any inquiries. According to Pitha, it is possible that the allegations are an attempt to discredit the Move Forward Party, which opposes monopolies in Thailand.

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Samantha Rose

Samantha is an experienced real estate journalist who has been covering the market for over 7 years both in her native Ireland and here in Bangkok. She recently started covering other sectors including Thai News and Lifestyle at The Thaiger.