Bangkok--Aug 25--MFA
With regards to the Forbes Special Report on the World’s Richest Royals published on 20th August 2008, which ranked His Majesty King Bhumibol Adulyadej of Thailand first, the Crown Property Bureau has clarified that the report is inaccurate and inconsistent. While the Report states that items elsewhere are considered not to belong to the Monarch and “as such are not counted in the Monarch’s net worth,” Forbes has included land and other assets belonging to the Crown Property Bureau which is not in His Majesty’s personal net worth.
The Crown Property Bureau also stated that it leases most of its land at low prices to state agencies, non-governmental organizations, community housing and shophouses. Only about 7% are leased at commercial prices.
The Ministry of Foreign Affairs wishes to further add that the report’s reference about His Majesty the King and the 2006 military intervention is incorrect. His Majesty had no role in the military intervention that took place in September 2006. As the Head of State according to the Thai Constitution, Royal assent is required for important matters of state. His Majesty’s royal assent by signature to the order appointing the Chairman of the Council for Democratic Reform was the pro forma exercise of functions assigned to a constitutional monarch.
The Ministry of Foreign Affairs has already sent this clarification to Forbes.
Prime Minister at the Ministry of Foreign Affairs
Press Division, Department of Information Tel.(02) 643-5170
Fax. (02) 643-5169 E-mail : div0704@mfa.go.th End.
-PM-
With regards to the Forbes Special Report on the World’s Richest Royals published on 20th August 2008, which ranked His Majesty King Bhumibol Adulyadej of Thailand first, the Crown Property Bureau has clarified that the report is inaccurate and inconsistent. While the Report states that items elsewhere are considered not to belong to the Monarch and “as such are not counted in the Monarch’s net worth,” Forbes has included land and other assets belonging to the Crown Property Bureau which is not in His Majesty’s personal net worth.
The Crown Property Bureau also stated that it leases most of its land at low prices to state agencies, non-governmental organizations, community housing and shophouses. Only about 7% are leased at commercial prices.
The Ministry of Foreign Affairs wishes to further add that the report’s reference about His Majesty the King and the 2006 military intervention is incorrect. His Majesty had no role in the military intervention that took place in September 2006. As the Head of State according to the Thai Constitution, Royal assent is required for important matters of state. His Majesty’s royal assent by signature to the order appointing the Chairman of the Council for Democratic Reform was the pro forma exercise of functions assigned to a constitutional monarch.
The Ministry of Foreign Affairs has already sent this clarification to Forbes.
Prime Minister at the Ministry of Foreign Affairs
Press Division, Department of Information Tel.(02) 643-5170
Fax. (02) 643-5169 E-mail : div0704@mfa.go.th End.
-PM-