BANGKOK (Bloomberg): A Thai steel tycoon is setting up a new party as an alternative to the military-backed establishment and anti-government protesters, seeking to appeal to what he called a "silent majority” alienated by the festering political divide.
Win Suteerachai, 38, chief executive of In-Tech Steel Co Ltd., launched the Ruam Thai United Party last month amid talks of an early election. He follows a time-held tradition of business magnates such as Thaksin Shinawatra in setting up parties to break the influence of the military-royalist elite in government.
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