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Thai King Now Holds Crown Property Bureau's Billions in Assets

  • Statement clarifies the impact of legal changes from 2017
  • Bureau’s stakes in Siam Commercial, Siam Cement top $7 billion
King Maha Vajiralongkorn
King Maha VajiralongkornPhotographer: Lillian Suwanrumpha/AFP via Getty Images

Thailand’s Crown Property Bureau said its assets are now held in the name of King Maha Vajiralongkorn, clarifying how a legal change last year affects billions of dollars of holdings.

The law enacted in 2017 means that “‘Crown Property Assets’ are to be transferred and revert to the ownership” of the king and that the bureau’s investments “will now be held in the name of His Majesty,” the bureau said in an undated statement on its website.