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Published on October 25, 2007

Fewer than two weeks after becoming leader of the Matchima Thippatai Party, Prachai Leophaira-tana has found fortune flying away.

His break-up with veteran Snoh Thienthong earlier this month brought him into the limelight as a leading contender to become the next prime minister.

With the support of mighty Somsak Thepsuthin and faction, Prachai saw a number of former members of Parliament from the disbanded Thai Rak Thai Party flock to his camp. His bargaining power got momentum overnight.

However, these days, Prachai can do nothing but accept the truth that many of the party's candidates are leaving for rivals.

Prachai is a kind of Thaksin Shinawatra - a wealthy businessman with no political base. It has been expected that he will use his large resources like Thaksin did to consolidate his political clout.

He is a fierce enemy of Thaksin and allegedly was behind a plot to overthrow him by financially backing the anti-Thaksin People's Alliance for Democracy rallies led by key ally Sondhi Limthongkul.

Prachai is accused of getting into politics in a bid to exploit state authority to seize back control of his business empire. Thai Petrochemical Industry, now renamed IRPC, went bankrupt soon after the economic crisis of 1997. This led to a long and bitter fight with creditors, and seemingly endless court disputes, before Thaksin's government allowed state entities led by PTT Plc to buy up sizeable stakes - a move that Prachai challenged in the courts, but was unable to stop.

Although Prachai and Thaksin are businessman-turned-politicians, Thaksin was patient and gradually made alliances with political factions until he finally grabbed the reigns of power.

In contrast to the deposed Thaksin, Prachai has made foes rather than friends since he entered politics full-time.

He played a critical role in an aborted attempt in mid-September to merge three groups - Matchima, Saman Chan and Pracharaj - into For the Motherland.

Prachai opposed installing Supachai Panitchpakdi as leader of the new party. He alleged Supachai, currently director-general of the United Nations Conference on Trade and Development (Unctad) in Geneva, was responsible for the enactment of 11 economic laws following the 1997 financial crisis.

Prachai says he lost control of his petrochemical empire as a consequence of the controversial IMF provisions.

He said Supachai was not the right choice for the country's "alternative party".

When the country appeared scared he was "another Thaksin", Prachai vowed to fight his way into power.

"As for campaign financing, I can match any amount of money supplied by former prime minister Thaksin," he told reporters last month, voicing optimism about defeating the People Power Party.

Yet Prachai's rigid stance continues to cause trouble.

The Somsak faction believed Pracharaj would not win many seats in the election as long as Snoh remained party leader, so its members decided to back Prachai.

Prachai welcomed the "invitation". Snoh was furious and challenged him to leave if he believed he was good enough to go solo.

Prachai and the Somsak faction decided to break up with Snoh. They moved to Matchima Thippatai instead.

However, a number of Somsak faction members and some other candidates cried foul over Prachai's management style - they called it "dictatorship".

Although they were the same people who said Prachai could lead the party because his qualifications "were outstanding", time has proved he was too much for them.

Veteran Sophon Phetsawang led a group of "rebels" away, forcing Prachai to reconcile with Snoh and deputy leader Korn Dabbaransi.

An attempt to merge Matchima Thippatai, Pracharaj and Ruam Jai Thai Chat Pattana - on Saturday was believed to be Prachai's last-ditch effort to keep his hopes to fight in the poll alive. But it turned into humiliation. The deal fell through.

The latest reports say Matchima Thippatai candidates are defecting to For the Motherland Party. Fewer than 30 former members of Parliament remain with the party.

Prachai is now reportedly worried the party will win just 10 to 15 seats.

But, anything can happen in politics.

Prachai might find himself running alone when candidate registration is held next month. Few believe Somsak will sacrifice his life for Prachai when the boat is sinking.

Weerayut Chokchaimadon

 The Nation