BANGKOK – Police officers at Bangkok’s Lumpini Police Station were informed of the incident at 1:00 a.m. on April 15 that a man had fallen from a room at a hotel in Soi Sukhumvit 2, Khlong Toei District, and died. The officers rushed to the scene to investigate the incident.
Coroners and medical examiners at Chulalongkorn Hospital determined that the deceased was a 54-year-old Japanese man named Ito. His body fell and hit the roof and windshield of a Toyota with Sa Kaeo license plate, denting the roof and breaking the windshield.
Initial investigations revealed that the deceased had been alone in the hotel. Before the incident at 00:45, the deceased went to the fire escape on the 7th floor and jumped down.
No signs of forced entry were found during the search of the hotel room. It is assumed that the deceased jumped to his death. Officials therefore instructed the rescue team to take the body to Chulalongkorn Hospital for an autopsy to determine the cause of death in accordance with the law.
At the same time, the officials contact the Japanese embassy in Thailand to inform the family of the deceased about the incident, arrange for the body to be collected and cover the cost of repairing the vehicle.
Hong Kong actor Tony Leung, right, reacts online after winning the Best Actor Award for the movie "The Goldfinger" as his wife and actress Carina Lau, right, addresses the audience at the 42nd Hong Kong Film Awards in Hong Kong, Sunday, April 14, 2024. (AP Photo/Louise Delmotte)
HONG KONG – Tony Leung Chiu-wai won his sixth Best Actor award at the Hong Kong Film Awards for his role as a flamboyant con man in the crime thriller The Goldfinger. The film won the most awards at the ceremony on Sunday.
His wife, Karina Lau Kar-Ling, came up to accept the award instead, while Leung reacted online to his winning the Best Actor Award for the movie.
Nopawat Likitwong, a Thai filmmaker born and raised in Bangkok, also won the Best Sound Design Award for The Goldfinger, which is based on the story of Carrian Group, a Hong Kong corporation that rose rapidly before collapsing shortly afterwards due to a corruption scandal.
“I’d like to share this award with Poolpetch Hatthakitkosol.” May you get better and more in charge in other respects. Thank you so much for your determination, and thank you to the entire One Cool team,” Nopawat wrote on his Facebook page.
Nopawat Likitwong reacts after winning the Best Sound Design Award for the movie “The Goldfinger” at the 42nd Hong Kong Film Awards in Hong Kong, Sunday, April 14, 2024. (AP Photo/Louise Delmotte)
According to CCCL Film Festival, Nopawat graduated with a bachelor’s and master’s degree from the Faculty of Fine Art, Rangsit University. He currently works as a sound designer and audio post-production manager at One Cool Sound Studio.
The 42nd Hong Kong Film Awards, resented by the Hong Kong Film Awards Association, took place at the Hong Kong Cultural Centre in Tsim Sha Tsui on April 14, 2024. The Best Film award went surprisingly to A Guilty Conscience.
A Guilty Conscience, produced by Edko Films, is the highest-earning Hong Kong film of all time, grossing approximately $15 million. It portrays the story of a lawyer attempting to liberate a client jailed due to his own incompetence, who must face one of Hong Kong’s most influential business families.
Cast of the movie “A Guilty Conscience” react after winning the Best Film Award at the 42nd Hong Kong Film Awards in Hong Kong, Sunday, April 14, 2024. (AP Photo/Louise Delmotte)Hong Kong actress Rachel Leung reacts after winning the Best Supporting Actress Award for the movie “In Broad Daylight” at the 42nd Hong Kong Film Awards in Hong Kong, Sunday, April 14, 2024. (AP Photo/Louise Delmotte)Hong Kong actress Jennifer Yu reacts after winning the Best Actress Award for the movie “In Broad Daylight” at the 42nd Hong Kong Film Awards in Hong Kong, Sunday, April 14, 2024. (AP Photo/Louise Delmotte)Hong Kong actor David Chiang reacts after winning the Best Supporting Actor Award for the movie “In Broad Daylight” at the 42nd Hong Kong Film Awards in Hong Kong, Sunday, April 14, 2024. (AP Photo/Louise Delmotte)Hong Kong film costume manager Tong Ping reacts after winning the Professional Achievement Award at the 42nd Hong Kong Film Awards in Hong Kong, Sunday, April 14, 2024. (AP Photo/Louise Delmotte)
Mad Fate, a mystery thriller that premiered at the Berlin Film Festival in 2023, won numerous awards, including best director for Soi Cheang and best screenplay for Yau Nai Hoi and Melvin Li.
Broad Daylight, about a reporter who uncovers episodes of abuse in a care home, won three acting prizes for Jennifer Yu, Rachel Leung, and David Chiang.
Taiwanese criminal drama “The Pig, The Snake, And The Pigeon,” a sleeper sensation in China, received the prize for best Asian Chinese-language film.
Hong Kong actor Sammo Hung reacts after winning the Lifetime Achievement Award at the 42nd Hong Kong Film Awards in Hong Kong, Sunday, April 14, 2024. (AP Photo/Louise Delmotte)
List Of Winners Hong Kong Film Awards 2024:
Best Film: A Guilty Conscience Best Director: Soi Cheang – Mad Fate Best Screenplay: Yau Nai Hoi, Melvin Li – Mad Fate Best Actor: Tony Leung – The Goldfinger Best Actress: Jennifer Yu – In Broad Daylight Best Supporting Actor: David Chiang – In Broad Daylight Best Supporting Actress: Rachel Leung – In Broad Daylight Best New Performer: Yoyo Tse – Fly Me To The Moon Best New Director: Nick Cheuk – Time Still Turns The Pages Best Cinematography: Anthony Pun – The Goldfinger Best Film Editing: Allen Leung, David Richardson – Mad Fate Best Art Direction: Eric Lam – The Goldfinger Best Costume and Makeup Design: Man Lim Chung – The Goldfinger Best Action Choreography: Tung Wai – Bursting Point Best Original Film Score: Teddy Robin, Day Tai – Band Four Best Original Film Song: A Lyricist Wannabe – The Lyricist Wannabe Composer and vocal artist: Tse Nga Yi Lyricist: Wong Yee Lam Best Sound Design: Nopawat Likitwong – The Goldfinger Best Visual Effects: Lik Wong, Benson Poon – The Goldfinger
Best Asian Chinese Language Film: The Pig, The Snake, And The Pigeon Lifetime Achievement Award: Sammo Hung Professional Achievement Award: Tong Ping
Songkran revelers put powder on PM Srettha Thavisin during the Songkran festival in Hua Hin, Prachuap Khiri Khan province on April 13, 2024.
The stature of Prime Minister Srettha Thavisin was further undermined this week by the “rumor” of an imminent Cabinet reshuffle next week spreading from his own Pheu Thai Party sources, only to see Srettha denying yesterday that a reshuffle will take place in the coming days.
The reshuffle rumor was very detailed and widely reported by the local media. It includes the removal of Defense Minister Suthin Klangsaeng, to be replaced by Srettha himself, and cutting short Cholnan Srikaew’s tenure as Public Health Minister. Both are very senior Pheu Thai Party figures with Cholnan, himself a former party leader.
Despite Srettha denial on Saturday, Defense Minister Suthin told the media he is preparing himself for such a possibility, adding that Cabinet reshuffle is a frequent occurrence in Thai politics.
To make the matter worse, some reporters even asked ex-convict-cum-ex-premier Thaksin Shinawatra yesterday about the reshuffle rumor, to which Thaksin, to his credit, declines to comment.
What is happening then?
We know that in a way Srettha, formerly a real estate tycoon, is a party outsider, only brought in not long before the May 2023 General Elections as the most palatable PM candidate from the Pheu Thai Party in hope of appeasing the conservative elites. Srettha has no history of being critical of the monarchy and appears non-threatening to the conservative elites as the party vows not to touch the controversial lese majeste law or introduce any significant reform of the military.
The reshuffle rumor could thus be read at least three ways.
First, it is just a rumor spread by some daydreaming Pheu Thai sources. Second, it is a power struggle within the Pheu Thai Party with some spreading false reshuffle plans in order to see how Srettha would react. This is understandable given that Pheu Thai is a large party with factions. Third, someone else more powerful than Srettha is intentionally using a Pheu Thai source to float the reshuffle idea publicly in a clear attempt to undermine Srettha’s stature – part of the process of eventually replace him with Thaksin’s daughter, Pheu Thai Party leader Paetongtarn Shinawatra.
How long will Srettha survive his own party as PM depends chiefly on whether he can prove himself to be an effective PM. Thaksin, the real master of the ruling Pheu Thai Party, has recently told party cadres during its annual general meeting via video conference that his daughter can become an even better leader than him due to the DNAs from him and his ex-wife. (While this writer is not convinced, that is not the topic of this column.)
Interestingly enough, Srettha did not attend the AGM at the party headquarters on that day. It should be taken as a clear sign that Srettha has limited time in his hands, especially if he does not quickly deliver on the economic front.
The controversial 10,000 baht digital wallet handouts scheme will only be rolled out in the last quarter of this year and Srettha himself admits the positive impact will only be noticeable in the first quarter of next year. For Thai politics, that is a long time from now and if the scheme failed to noticeably have a positive impact on the Thai economy, his political survival may be severely at risk.
Being a major real estate tycoon means Srettha may not enjoy being a puppet of anyone. He seems to be enjoying his seven months as a globe-trotting PM and likely would not mind completing his four-year term. Srettha even recently vows to lead the party to victory in the next general elections although no one is talking about the next general elections at this point.
Some in the party, and above the Pheu Thai Party, may be interested in talking about who is the next PM, particularly if Srettha fails to deliver tangible results in the coming months. Already, tackling PM2.5 particles in Chiang Mai, the North, and Bangkok, has been a failure for PM Srettha so far as Chiang Mai became of the most air-polluted major city in the world on many days over the past month.
Leverkusen's head coach Xabi Alonso , centre, is sprayed with beer after Bayer Leverkusen won the German Bundesliga title beating Werder Bremen in Leverkusen, Germany, Sunday, April 14, 2024. (AP Photo/Martin Meissner)
LEVERKUSEN, Germany (AP) — The road leading to Bayer Leverkusen’s stadium has a new name. It’s Xabi Alonso Avenue, at least to the fans.
It was here that they lined the road to greet the most in-demand coach in world soccer and his team on their bus ahead of the triumphant 5-0 rout of Werder Bremen on Sunday that sealed Leverkusen’s first Bundesliga title.
“The way to the stadium was unbelievable. You can feel that the fans were totally ready, totally convinced that we will do it,” Alonso said.
Leverkusen fans celebrate after Bayer Leverkusen won the German Bundesliga title beating Werder Bremen in Leverkusen, Germany, Sunday, April 14, 2024. (AP Photo/Martin Meissner)
After getting through a crowd celebrating as if Leverkusen had already won, Alonso’s task was to manage his squad’s emotions. “We spoke in the locker room that we have to transform this energy into positive energy.”
The renaming isn’t official — not yet, anyway. For now, it’s just a matter of a fan’s sticker over the sign on what’s still officially the Bismarckstrasse. But if Alonso can finish the season with the German Cup and Europa League, who knows? All that in his first job in a senior head coach role.
Alonso commands instant respect in the locker room as a Champions League and World Cup-winning player who worked with almost all of the biggest names in coaching. He’s given a group of players with very different career trajectories the self-belief to take on Bayern and the tactics to take the champion apart.
Alonso refused to talk about the title for months, even after beating Bayern 3-0 in February to open up a lead which only got larger. “We didn’t speak too much about the title in our locker room, but we all had it in our head,” he said Sunday.
Leverkusen’s fans raise a mock champions trophy as they celebrate winning the German championship on the pitch after the Bundesliga soccer match between Bayer Leverkusen and Werder Bremen at the BayArena in Leverkusen, Germany, Sunday, April 14, 2024. (Federico Gambarini/dpa via AP)
Before sealing the Bundesliga title, Leverkusen had already won another big victory over Bayern and Liverpool last month when Alonso said he would stay for next season despite interest from two of the biggest clubs around. A possible vacancy in a year’s time at Real Madrid may prove tempting, too.
Bayern’s new sporting director Max Eberl singled out Alonso for praise, while also vowing to hit back on the field next season.
“Special congratulations to Xabi Alonso, his coaching staff and the whole team,” Eberl said in a statement. “Your football has thrilled the Bundesliga. FC Bayern’s streak has been snapped, but we will now put everything toward getting on the attack again.”
After Leverkusen stretched its German record unbeaten run to 43 games across all competitions this season, Alonso said he’d give the team Sunday and Monday to celebrate before the hard work begins again. On Thursday comes a trip to London as Leverkusen aims to hold onto its 2-0 lead from the Europa League quarterfinals first leg against West Ham
Leverkusen’s head coach Xabi Alonso holds a replica of the Bundesliga trophy as he celebrates with his team on tribune after taking the Bundesliga title with a 5-0 win against Werder Bremen in Leverkusen, Germany, Sunday, April 14, 2024. (AP Photo/Martin Meissner)
There’s a German Cup final to win on May 25 — against second-division Kaiserslautern. And the small matter of Borussia Dortmund next week in the Bundesliga, one of five games separating Leverkusen from the league’s first-ever unbeaten season.
For now, Alonso is enjoying his success, and the team spirit which has led him and Leverkusen to this point.
“When I feel that the team is behind me, the feeling that they want to believe, it’s much easier,” Alonso said in a mix of German and English, shortly before his players burst into his news conference to shower him with beer.
“That was my great enjoyment, that I had the feeling that the team was really committed, and once you have that it’s much easier. I don’t know what it will mean for the future, but at the moment it feels pretty great.”
The rescuers transported the body down from the mountain's top in Pattaya on April 2024.
PATTAYA – Police officers from Pattaya City Police Station and rescuers from the Sawang Boriboon Thammasathan Foundation proceeded to investigate the body of a foreign man found on Big Buddha Mountain, Ban Ko Lan, Village No. 7, Na Kluea Subdistrict, Bang Lamung District, Chonburi Province.
The finding was made at the summit of Big Buddha Mountain, which is 230 metres above sea level. The body is Mr. Gnanamurthy, a 31-year-old Indian national. A rope was put around his neck and tied to a tree. The officers investigated the body and found no signs of mistreatment.
Ms. Koi, 36, who runs a motorcycle rental service, stated that the Indian man had been in Pattaya for two months. He rented her motorcycle and borrowed money from her. He informed her that his father was a police officer in India. Before the tragedy happened, Mr. Gnanamurthy called his father to ask for money that he had borrowed. Because he still owes vehicle rental expenses.
The rescuers pointed at the tree where the Indian body was found.
“He showed me his texts to his family.” He threatened to commit suicide if his father did not return the money. “At first, I thought he was just threatening,” Ms. Koi explained.
Initially, the police turned over the body to rescue workers, who transported it to the Institute of Forensic Medicine at the Police Hospital for an autopsy. They also coordinated with the Indian embassy. Regarding the cause of death, the police concluded that, after reviewing numerous pieces of evidence, the man didn’t have any money, which caused stress until the end of his life.
Three women place flowers as a tribute near a crime scene at Bondi Junction in Sydney, Sunday, April 14, 2024, after several people were stabbed to death at a shopping center Saturday. (AP Photo/Rick Rycroft)
SYDNEY (AP) — A police officer and several bystanders are being hailed for running “towards danger” to confront the attacker who stabbed and killed six people at a suburban Sydney shopping center.
The shopping mall, one of the country’s busiest and near the world-famous Bondi Beach, was a hub of activity on Saturday afternoon when 40-year-old Joel Cauchi used a knife to kill five women and one man. He also injured at least a dozen others, including a 9-month-old baby whose mother died during the attack, before a police officer shot him dead.
New South Wales Police confirmed Sunday Cauchi had a history of mental illness and investigators weren’t treating the attack as terrorism-related.
Emergency officers stand by with stretchers outside Westfield Shopping Centre where multiple people were stabbed in Sydney, Saturday, April 13, 2024. (AP Photo/Rick Rycroft)
The number would have been far higher, according to NSW Premier Chris Minns who on Sunday praised “the ordinary members of the public that cornered and confronted a murderer in the Westfield Shopping Centre, showing what I would call instinctive bravery under terrible circumstances.”
Talking to reporters while standing outside the shopping mall, Minns underscored the role played by Inspector Amy Scott — the first emergency responder on the scene — who shot and killed Cauchi and has since been widely lauded as a hero.
Inspector Amy Scott
“(Scott)… ran towards danger and showed professionalism and bravery and without a shadow of a doubt, saved many, many lives in the last 24 hours,” he said.
Prime Minister Anthony Albanese also praised Scott in a press conference in Canberra: “The wonderful inspector who ran into danger by herself and removed the threat that was there to others, without thinking about the risks to herself,” he said.
He commended “ordinary Australians putting themselves in harm’s way in order to help their fellow citizens. That bravery was quite extraordinary that we saw yesterday.”
People are led out from Westfield Shopping Centre where multiple people were stabbed in Sydney, Saturday, April 13, 2024. (AP Photo/Rick Rycroft)
Video footage shared online showed many people fleeing, some carrying their children as they escaped while a knife-wielding Cauchi ran erratically through the shopping center, lunging at people.
Other footage showed a bystander holding what appeared to be a metal pole to hold off Cauchi who was coming up an escalator at the time.
Hundreds of floral tributes and messages for the victims had been laid outside the closed shopping mall on Sunday, which police said would remain an active crime scene for days if not weeks.
The Central Group website published details of Kadewe department stores in Germany that it has already bought.
BANGKOK – The Central Group has published highlights of its business as it has already acquired the business of KaDeWe Group from the insolvent Austrian company Signa. Its website stated that a luxury department store group in Europe under Central Group consists of KaDeWe in Berlin, Alsterhaus in Hamburg, and Oberpollinger in Munich, Germany.
“KaDeWehas more than50,000visitors per day, Alsterhaushas more than 15,000visitors per day, and Oberpollingerhas more than30,000visitors per day,” it stated.
The big business of Thai group did not confirm the purchase price. But Germany’s Handelsblatt newspaper put the figure at about €1 billion ($1.07 billion), while Reuters news agency reported that the Thai retailer already holds a 50.1% majority stake in the group.
Reuters also reported that Signa, the property empire founded by tycoon Rene Benko, has been one of the biggest casualties of Europe’s real estate crisis, with creditors filing claims worth billions of euros.
KaDeWe
The group’s holding company, which sits at the centre of a web of hundreds of firms, has declared insolvency, as have its two most important units, Signa Prime and Signa Development.
According to the Central Group, KaDeWe in Berlin was also amongst the top 3 in the world with the third place in the category “World’s Best Team at a Department Store”, awarded to the Wine & Spirits Team of KaDeWe by IGDS.
KaDeWe Group department stores under Central Group will expand their empire and presence in Europe with a launch of the very first luxury department store in Vienna, ‘LAMARR’, connected to Thompson Vienna Hotel in Austria. The second upcoming project is ‘Carsch Haus’ in Dusseldorf, Germany. The 2 new projects are scheduled to unveil in 2025.
“The acquisition of the KaDeWe building is the first important milestone for us in the attempt to restore and restructure the KaDeWe Group operating company towards a sustainable, financially viable business,” said Vittorio Radice, board member of Central Group Europe, in a statement.
In 2023, Central Group has taken over Selfridges department stores as Signa faces an investor revolt.
AP PHOTO
The deal, reportedly worth 4 billion pounds ($5.4 billion), adds to Central’s collection of posh retailers that includes Rinascente in Italy, Illum in Denmark, Switzerland’s Globus and The KaDeWe Group in Germany.
Selfridges was founded in 1908 by Harry Gordon Selfridge and is controlled by the billionaire Weston family of Canada. The group owns 18 department stores including a historic property in London’s Oxford Street shopping district.
Central is the retail flagship of the Thai billionaire Chirathivat family. Selfridges is a nice trophy as it expands globally from its base in Thailand, where the retailing conglomerate owns many department stores and malls.
Israeli Iron Dome air defense system launches to intercept missiles fired from Iran, in central Israel, Sunday, April 14, 2024. Iran launched its first direct military attack against Israel on Saturday. (AP Photo/Tomer Neuberg)
The Associated Press reported on April 14 that Iran had launched its first direct military attack against Israel.
Booms and air raid sirens sounded across Israel early Sunday after Iran launched hundreds of drones, ballistic missiles and cruise missiles in an unprecedented revenge mission that pushed the Middle East closer to a regionwide war.
Iran had been threatening to attack Israel after an airstrike earlier this week widely blamed on Israel destroyed Iran’s consulate in Syria, killing 12 people, including two elite Iranian generals.
Iranian demonstrators wave a Palestinian flag during their anti-Israeli gathering at the Felestin (Palestine) Square in Tehran, Iran, early Sunday, April 14, 2024. (AP Photo/Vahid Salemi)
Israel and Iran have been on a collision course throughout Israel’s six-month war against Hamas militants in the Gaza Strip. The war erupted after Hamas and Islamic Jihad, two militant groups backed by Iran, carried out a devastating cross-border attack on Oct. 7 that killed 1,200 people in Israel and kidnapped 250 others, including Thai workers, eight of whom are still in Hamas captivity.
An Israeli offensive in Gaza has caused widespread devastation and killed over 33,000 people, according to local health officials.
The Thai government issued a statement to warn Thai people in the Mideast region to be on alert for any possible emergency scenarios and to closely follow the announcements and alerts by their embassies in the region.
“I am following the situation in the Middle East closely and with much concern, especially reports on the rising tensions between Israel and Iran, and I urge Thais in the region to be on alert for any possible emergency scenarios and follow closely the announcements and alerts by our embassies in the region,” said Prime Minister Srettha Thavisin.
The Ministry of Foreign Affairs also issued a statement on Saturday saying that due to the rising tensions between Israel and Iran, the Royal Thai Government and the Ministry of Foreign Affairs of the Kingdom of Thailand are concerned for Thai nationals staying in areas that may be directly affected. As such, Thai embassies in the region have been instructed to monitor the situation in the region closely.
Mohammad Bader, 27, inspects his torched vehicle, in the West Bank village of al-Mughayyir, Saturday, April 13, 2024. (AP Photo/Nasser Nasser)
“Thai nationals in the region are urged to stay alert and follow announcements and advice from Thai Embassies closely. The Royal Thai Embassy in Tel Aviv has already issued a warning to Thai nationals living there to prepare for possible emergency situations and can be contacted directly for any related assistance. Other Thai nationals are strongly urged to avoid travelingthere if not deemed urgent or necessary at this time,” it stated.
According to the Associated Press report, the Israeli military says Iran fired more than 100 bomb-carrying drones toward Israel. Hours later, Iran announced it had also launch much more destructive ballistic missiles and cruise missiles.
The Israeli Defense Forces said in a statement early Sunday the “vast majority” of missiles launched from Iran were intercepted outside of Israel’s borders. Israel has made missile defense a priority, with a variety of air-defense systems available to shoot down incoming missile and drone fire.
Mr. Shin (black shirt) was arrested at Chiang Mai International Airport.
CHIANG MAI – When some people enjoy splashing water during the Songkran festival, they may be unaware of stolen items.
On April 13, Chiang Mai Tourist Police officers and Chiang Mai City Police Station caught a foreign group that stole items from individuals participating in the Songkran water festival around the Chiang Mai moat.
According to the investigation, this gang of thieves consists of four South Korean men: 1. Chu Doo Man, 2. Shin Boo Kook, 3. Hong Seoung Bok, and 4. Lee Chul Hyun. The second and fourth people walked around the victim to draw attention, then guided the first person to use nail clippers to cut off the victim’s necklace.
Mr. Chu was arrested near the Tha Phae Gate area of Chang Moi Subdistrict, Mueang Chiang Mai District.
On April 12, the four attempted to commit a crime but were unsuccessful, according to a video clip caught by a good citizen. They later snatched the victim’s gold necklace and fled.
Mr. Chu was caught near the Tha Phae Gate area of Chang Moi Subdistrict, Mueang Chiang Mai District, while Mr. Shin was arrested at the international passenger terminal as he was about to depart from Chiang Mai International Airport.
The police found a gold necklace weighing one baht and a Buddha framed in gold worth 50,000 baht in the hotel room where they slept. The current price of gold is substantially higher, exceeding 40,000 baht per baht.
The police found a gold necklace weighing one baht and a Buddha framed in gold worth 50,000 baht in the hotel room of the suspects.
Both were charged with stealing property. According to Criminal Code Section 336, anyone who commits theft by snatching in the presence of another is guilty of snatching and faces up to five years in jail and a fine of ten thousand Baht. Officials are trying to track down and prosecute the third and fourth gang members.
Business woman Truong My Lan, front center, attends a trial in Ho Chi Minh City, Vietnam on Thursday, April 11, 2024. (Thanh Tung/VnExpress via AP)
HANOI, Vietnam (AP) — The unusually harsh death sentence given to a real estate tycoon in Vietnam was a pivotal moment in the decadelong “Blazing Furnace” anti-corruption campaign as the Vietnamese business community wrestled with an uncertain future Friday.
Real estate tycoon Truong My Lan, who was sentenced to death Thursday by a court in Ho Chi Minh city for orchestrating the country’s largest ever financial fraud case, was one of Vietnam’s most important businesspeople for years. She has been convicted for fraud amounting to $12.5 billion — nearly 3% of the country’s 2022 GDP — and for illegally controlling a major bank and allowing loans that resulted in losses of $27 billion, state media outlets reported.
Vietnam typically gives death penalties crimes like terrorism or murder and, according to Amnesty International, has among the highest rates of capital punishment worldwide. But a death sentence for a financial crime is rare in the country.
Defendants attend a trial for their involvement in a $12.5 billion fraud case in Ho Chi Minh City, Vietnam on Thursday, April 11, 2024. . (Thanh Tung/ VNExpress via AP).
Thursday’s sentencing marked a “big turning point” in the ongoing anti-corruption drive in Vietnam, said Nguyen Khac Giang, an analyst at Singapore’s ISEAS-Yusof Ishak Institute.
“It signals that the party’s commitment to a crackdown on corruption has … expanded,” he said.
The Communist Party’s so-called Blazing Furnace campaign began in 2013, but it wasn’t until 2018 that authorities began scanning the private sector. Since then, several owners of Vietnam’s fast-growing businesses have been arrested. The trial for Trinh Van Quyet — the former chair of the real estate company FLC, which also owns Vietnam’s third-largest airline, Bamboo Airways — will likely be heard next. He was arrested in 2022. Giang said Lan’s trial was “an example” for upcoming cases.
The anti-corruption campaign is a hallmark of Communist Party General Secretary Nguyen Phu Trong, Vietnam’s top politician. The 79-year-old ideologue views corruption as a grave threat facing the party and has vowed that the campaign will be a “blazing furnace” where no one is untouchable.
It’s making foreign investors jittery while dampening Vietnam’s economic outlook at a time when the country has been positioning itself as the ideal home for businesses looking to shift their supply chains away from China. Vietnam already lost two presidents in a little over a year and the country’s bureaucracy has ground to a halt with terrified officials choosing to do nothing lest they be in the crosshairs.
Lan’s death sentence sent “shockwaves” across the Vietnamese business community, creating a “sense of uncertainty” about the future, said Giang.
Business woman Truong My Lan attends a trial in Ho Chi Minh City, Vietnam on Thursday, April 11, 2024. (Thanh Tung/VnExpress via AP)
The real estate sector in particular is floundering. An estimated 1,300 property firms withdrew from the market in 2023 and high-rises lie empty in major cities like Hanoi and Ho Chi Minh. Add to this poor global demand and reduced public investment slowing Vietnam’s economic growth down to 5.05% last year, compared to 8.02% in 2022, according to government data.
Meanwhile, despite the long campaign against graft, public opinion about corruption in Vietnam remains mixed, according to an annual survey built on interviews with nearly 20,000 people known as the Vietnam Provincial Governance and Public Administration Performance Index. It found that, while fewer people were asked for bribes, the number of people who felt the government was serious about fighting corruption had actually dipped in 2023 from the previous year.
Giang said that these were now “uncharted waters” for Vietnam, making it impossible to predict what lay next.
“We haven’t really seen anything like this before,” he said.
