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May 25, 2013 -- Updated March 04, 2013 14:05 HKT

Abhisit Vejjajiva Victory in Thailand


shayne@heffcap.com
Posted on: Mar 4th, 2013

Abhisit Vejjajiva Victory in Thailand

According to the unofficial result from the Election Commission, Democrat MR Sukhumbhand received 1,256,231 votes, the largest ever haul in the gubernatorial election. His rival, Pheu Thai candidate Pongsapat Pongcharoen, was close behind with 1,077,899 votes.

Abhisit Vejjajiva’s Democrat party has won the Bangkok Mayoral election, a signal of his continued importance and the growing health of Thai politics.

Yingluck Shinawatra the current PM graciously accepted the defeat and offered the new Mayor her full support, Thai politics is coming of age.

Yingluck has surprised many as a competent leader and the country has left behind the violence of recent years, for now the Abhisit lead opposition and Yinglucks Government have made significant progress towards reconciliation.

The new Mayor MR Sukhumbhand Sunday thanked his supporters, as well as Ms Yingluck for pledging support for City Hall under his leadership.

“I promise to reach out to the Bangkok people who did not vote for me. I will reach out to them so that together we can join hands in building Bangkok. I will be the Bangkok governor for everyone. I will work hard. Bangkok people have placed their trust in the Democrat Party for 12 years. It’s becoming 16 years now. I will not forget today for the rest of my life,” he said.

Pheu Thai candidate Pongsapat conceded defeat in the election and congratulated his rival MR Sukhumbhand.

“I thank every voter who chose me as a candidate representing Pheu Thai Party.

I will be willing to support the Bangkok people in the future and share in all kinds of experiences,” he said.

Meanwhile, Democrat secretary-general Chalermchai Sila-on could come under pressure to step down in the party’s general assembly in April. Mr Chalermchai is known to have opposed MR Sukhumbhand seeking a second term.

A source close to Mr Chalermchai, however, said the secretary-general had worked hard to help the candidate and that voters reluctantly chose MR Sukhumbhand to keep Pheu Thai at bay.

The source criticised party heavyweights for ignoring voters’ sentiments.

“If MR Sukhumbhand can’t measure up in one or two years, it will be doom and gloom all the way to the general election,” the source said.

Pichai Rattanadilok na Phuket, of the National Institute of Development Administration (Nida), agreed that the Democrat Party’s strategy to campaign against Pheu Thai attaining monopoly on power was a deciding factor for many residents.

He said Pol Gen Pongsapat would have won had the election not been linked to national politics.

“This is no ordinary election. The outcome has a symbolic meaning. That’s why MR Sukhumbhand won,” he said.

“Don’t even think the people like you [MR Sukhumbhand] any better. They just don’t want Pheu Thai to win.”

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Linda Johnson,
Business Development Director – Private Client Group,
Heffernan Capital Management
Sales@Heffcap.com

Singapore

3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
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Heffernan Capital Management
Linda Johnson,
Business Development Director – Private Client Group,
Sales@Heffcap.com

Singapore

3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699

  Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals. He is also an active consultant working with Corporations around the World.

He is recognized as one of the leading Economists in South East Asia, as well as the preeminent authority on ASEAN. His opinions and forecasts are widely read by decision makers in the region and Internationally.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

Member
Chinese Society of Economists
American Economic Society




 

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