Srettha Thavisin, a property tycoon seeking to become Thailand’s next prime minister, is set to unveil a new coalition on Thursday in an attempt to break a political stalemate keeping investors on edge since the May elections.
His Pheu Thai Party, linked to former premier Thaksin Shinawatra, has parted ways with first-placed Move Forward as it looks to secure Srettha’s win in a joint sitting of parliament tentatively scheduled for Aug. 4. It needs the support of the majority of 750 lawmakers, including those in the military-appointed Senate.
Conservative parties such as Bhumjaithai and Palang Pracharath are expected to join the new coalition, and their inclusion would boost support for Srettha’s nomination in the 500-member House of Representatives. His win depends on the Senate, which blocked Move Forward’s leader Pita Limjaroenrat from the top office due to his party’s election pledge to amend a controversial royal insult law.