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    Posted May 24, 2014 by
    This iReport is part of an assignment:
    Thai military declares coup

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    Thai military declares coup

    Kanda Naknoi
    May 22 · Edited
    Once again Thailand had a coup. The unique feature of Thai military is that, the Thai military is actually a business group, like any other business groups. Since the 1950s, the Thai military has owned a bank, TV stations, ratio channels, and a large amount of land holdings. Concessions in the telecommunication industry, in which the former PM Thaksin's business is, have been decided by the military. Business interests can explain why the Thai army seeks an active role in politics. Although the Thai Military Bank took a major blow as a result of the 1997 Asian crisis and sold a large stake to ING, the major holder is the Ministry of Finance, which bailed out the bank during the crisis. Also, the business interests of the army in other industries are substantial. The military acts to protect its businesses and its allies in other business groups.

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