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Warring, wealthy and notorious Thammawattana family makes peace

Legacy Phuket Gazette

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PHUKET MEDIA WATCH

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Warring, wealthy and notorious Thammawattana family makes peace
The Nation / Phuket Gazette

PHUKET: After enduring a series of tragedies for decades, rival members of the Thammawattana family have decided to give up their spats for the sake of “peace and happiness”.

Many members of the wealthy and notorious family showed up at the Criminal Court yesterday to sign a pact agreeing to drop some 48 legal cases they had lodged against each other. The agreement, which was arranged after six rounds of court mediation, turns a new page in the family’s history.

“The most important thing is to ensure our family gets peace and happiness,” Parinya Thammawat-tana told the court.

Parinya launched legal battles against his siblings and other |relatives after their older |brother, then-MP Hangthong Thammawattana, was found dead in the family mansion near the Yingcharoen Market in northern Bangkok in 1999. It is still a mystery as to whether Hangthong killed himself or was murdered.

Prior to his death, several members of the family suffered assassination attempts, with some |surviving and others not quite making it. It is widely believed that these tragedies were related to conflicts over the family’s massive wealth.

According to Parinya, he has now sold his stake in the Yingcharoen Market to his sister Nareumol Mangkornpanit. He did not disclose the price for which his stake was sold.

“I will no longer be involved in the management of the Yingcharoen Market,” he said.

The market, which was established in 1955 by their late mother Suwapee, began generating a huge income after a few years.

However, in 1979, when the family business was thriving, Suwapee was shot and paralysed.

Shortly before she died in 1990, she called on her children to love each other and stay united.

Nareumol yesterday thanked the court for mediating, adding that the pain would be more bearable if siblings turned to each other when conflicts arose and sought solutions together.

Parinya and Nareumol were later seen shaking hands and smiling yesterday.

The Criminal Court’s presiding judge Jessada Yuangthong, who helped in the mediation, said the case was quite complicated because it involved many individuals and huge sums of money.

However, he said, blood ties and shared wishes had eventually led to this agreement that would help end the 43 civil cases and five criminal cases.

“The deal also covers asset sales and benefit sharing,” he said.

Jessada said if any party is seen breaching the agreement later, other parties could petition to the Civil Court for a strict enforcement of the pact.

— Phuket Gazette Editors

 

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Coronavirus (Covid-19)

Family sues prime minister, CCSA after Covid-infected relative dies

Tanutam Thawan

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Photo from Kunlasub Wattnaphon's Facebook.

The family of a man who died while infected with Covid-19 is demanding the prime minister, as well as other government officials, pay millions of baht in compensation, citing “negligence” after calls to Covid-19 hotlines went unanswered or were not of help.

35 year old Kunlasub Watthanaphon died on April 23. Kunlasub is said to have contracted the virus from a cluster in Bangkok. Many of the clusters of infections early in the recent outbreak were concentrated in nightlife districts in Bangkok including Thong Lor and Ekkamai.

When Kunlasub developed Covid-19 symptoms, he called the hotline numbers for those who think they make have contracted the virus. If he had received proper treatment quicker, the family says he might still be alive.

“The CCSA announced telephone helplines – 1330, 1422, 1668, 1669 and 1323 – for people who suspected they had contracted Covid-19. When my brother developed Covid-like symptoms he called these numbers. However, they were either busy or someone picked up but did not send help right away.”

Kunlasub had documented his illness on Facebook, posting updates, as well as photos and videos, up until the day of his death.

The death of the 35 year old man, who is well known in the esport, or video competition industry, sparked controversy. One person wrote on Facebook after Kunlasub’s death “My friend didn’t die because of a congenital disease. He died because he wasn’t treated in the early days.”

The case was filed at the Administrative Court today. It demands compensation of 4.53 million baht from the Centre for Covid-19 Situation Administration as well as PM Prayut Chan-o-cha, his secretary and the prime minister’s office.

The family is also suing Thong Lor entertainment venues, where the first clusters were reported in the recent outbreak, for negligence.

β€œHad the CCSA imposed a strict lockdown on entertainment venues and banned travel during the Songkran holiday, the latest wave of Covid-19 with over 2,000 new infections daily would never have happened.”

SOURCE: Nation Thailand

 

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Thailand

Thailand News Today | 8 clusters in Bangkok, Phuket party organisers charged | May 14

Tanutam Thawan

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Foreigners may face a slight delay in receiving their Covid-19 vaccines, The BMA has now confirmed 8 clusters of Covid infection in the capital, Thai Private Hospital Association is now working to offer a variety of Covid-19 vaccine brands to Thais and Patong police have announced that the managers of the Phuket venues that hosted the Kolour entertainment event swill be charged under Thailand’s Emergency Decree provisions.

 

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Economy

Market down as good US economy drives interest rate fears

Neill Fronde

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FILE PHOTO: The Thai stock market followed the rest of the world down yesterday, but long-term prospects may be looking up.

After US inflation exceeded targets and increased 4%, global stock markets including Thailand plummeted yesterday with fears of rising interest rates. Almost 144 billion baht was traded yesterday with the market at one point diving down 70 points in the late afternoon before recovering to a 23.72 point loss, closing at 1548.13.

2% is a high rate of inflation so the big numbers sparked fears that the US Federal Reserve will reduce quantitative easing and increase interest rate which decreases the market’s liquidity. The US economy is surging with the Consumer Price Index up 4.2% over last year.

The balancing out of the economy will likely push risky prospects like the stock market down while driving up commodity prices like energy and oil. This may hurt the Stock Exchange of Thailand in the short run, but will likely have long-term positive effects as the SET has a large number of energy stocks that will benefit from the market’s change.

Some long-term investors in Thailand fear quantitative easing and the market’s tightening because it drives away foreign investors which in the past made up 30% of the Thai market. But now foreigners only account for 20% so the negative effect should be much less. However, in the normal inflation range of 1 to 3%, the stock market should have a price-to-earnings ratio of 20 and some experts have downgraded it to 18 now.

Eyeing the US, some experts predict that even accelerated quantitative easing won’t come into effect until the end of the year and interest rates probably won’t rise significantly within the next 2 years. Watching the continued effect of the Covid-19 pandemic and US unemployment figures will be key indicators driving the global market up or down.

Even with the stock market down in Thailand, there’s still some good news as Thai corporations listed on the SET expected to cross the 200 billion baht profit threshold this week, after reporting 180 billion baht in the first quarter of the year, with 55% of the market recording a profit.

SOURCE: Bangkok Post

 

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