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Published on April 17, 2008

"There's about 20 of us who are looking at this fund, and we'd invest about $250 million each," said Thaksin, who is in Dubai.

"It would invest in Asian stock exchanges and new companies, focusing on Asia, as that's where I know," he said without further elaboration.

Meanwhile, a total of 111 members of the former premier's disbanded Thai Rak Thai Party has set up a foundation called the House Number 111 Foundation.

The grouping, which will be unveiled on May 2, has asked Thaksin, the former Thai Rak Thai leader, as its chief adviser.

Pongthep Thepkanchana, a former Thai Rak Thai executive, yesterday said the foundation was aimed at allowing the 111 former party executives, banned from politics, to contribute to society.

Among dozens of founding Thai Rak Thai members, Pongthep said he would be an ad-hoc chairman of the foundation, while Wichit Plangsrisakul would be secretary-general.

The foundation is in process of being formed.

The former Thai Rak Thai executives' voting rights were revoked after the Constitution Tribunal dissolved party last May.

The Nation

Dow Jones Newswires

Dubai