Crown Property Bureau
The Crown Property Bureau, short CPB ( Thai สำนักงานทรัพย์สินส่วนพระมหากษัตริย์, RTGS: Samnakngan Sapsin suan Phramahakasat ) is a facility in Thailand, which is responsible for the asset management of the Thai crown, but not for the private possession of King Bhumibol Adulyadej and his family. The position of the CPB is unique because it is not a government agency, nor a part of the court administration or a private company. It is exempt by law from taxation. In the years 2008 to 2010, the CPB had per year occurred between nine and eleven billion baht in revenue. The annual report shall be submitted only to the king.
The Crown Property Bureau is headed by Chirayu Isarangkun Na Ayutthaya, Chairman of the Supervisory Board is the Minister of Finance, since 2012 Kittiratt Na - Ranong.
Investments
The Crown Property Bureau was founded in 1936 after the absolute monarchy was replaced by a constitutional by a coup in 1932. Parliament separated by law the former royal fortune in private wealth of the king, public property and Kronvermögen. For the Kronvermögen it established the CPB, which was subordinated to the Ministry of Finance. 1948, during the reign of the royalist party, the Democratic CPB got its own legal personality and again the direct control of the king was assumed. According to the law in force since the King appoints the Director-General of the CPB, while the respective Finance chairs the Supervisory Board.
Since the 1970s, it is involved in many Thai companies. Among other things, it is the majority shareholder of Siam Cement ( 30%), one of the largest companies in Thailand, Siam Commercial Bank, the second largest bank in the country ( 25%), and Christiani & Nielsen deves Insurance ( Contractors ). In addition, it holds interests in several other local companies, many of which are listed on the stock exchange in Bangkok SET Index.
In addition, the Crown Property Bureau 36,000 Land in Bangkok has a total area of 54 km ² and several outside Bangkok on a total area of 160 km ². These are rented or leased. This includes many plots in prime locations in Bangkok. The CPB is the largest landlord in Bangkok. The CPB indicates, however, that it leased only 7 % of the land on terms which were common in the private sector. Much of the land in Bangkok is used by government institutions or is occupied by informal settlements, markets or business houses. On land the CPB but are also a large shopping mall, Central World and the Four Seasons Hotel.
Furthermore, the majority holds the CPB shares in Kempinski Hotel AG, headquartered in Munich and their daughter Kempinski SA Headquartered in Geneva.
The total value of the assets will not be published. The Thai economic historian Porphant Ouyyanont, which for a publication on the history of CPB extensive insight was granted, gave him at the end of 2005 at 27.4 billion U.S. dollars. On the basis of the information Porphants and considering the performance of Forbes Asia estimated the value of 2008 to $ 35 billion. The greatest part of it turns the land. The shares of CPB at Siam Cement in 2008 were worth $ 1.9 billion, the. At the SCB 1.1 billion, which at the deves insurance 65 million and the other corporate investments together $ 600 million