Thaksin bids for Montenegro island : foreign media


Fugitive ex-Thai prime minister Thaksin Shinawatra is bidding to buy a mortgaged island, which is also known as Hawaii, in Montenegro.

The First Bank of Montenegro advertised out-of-court sale of the part of Sveti Nikola Island near Budva at the initial price of 21 million Euros.

The island of Sveti Nikola, also known as Hawaii, is located less than a kilometer away from Budva and it has three sandy beaches spreading on 840 meters, according to Visit-Montenegro online.


“Among potential buyers there were allegedly some Englishmen, Russians, Belgians and Arabs, and according to recent information published by media the former Thailand’s Prime Minister Shinawatra Thaksin who got Montenegrin passport was also at play. It is still not known where Shinawatra got a Montenegrin passport from,” the online reported.

At the first auction launched a couple of months ago, the famous Hawaii were offered at price of 28 million Euros. The land for different purposes covering an area of more than 37 000 square meters has been offered for sale together with the existing facilities.

The public auction is scheduled for May 23 at the premises of the bank in Budva.

The owner of the island is Serbian businessman Stanko Subotic who is indebted to the bank.

 Subotic purchased the most beautiful part of the island in 2007 from Nenad Djordjevic for over 20 million Euros.

After the purchase, Subotic announced big investment plans which included connecting the island with the mainland, building hotels, villas, marina and additional facilities but he was prevented from carrying out his plans after Serbia declared him a wanted person under the suspicion that he was involved in cigarette smuggling and thus caused damage to the country.

According to well-informed sources, Subotic then planned to sell the island and on the basis of this story there were rumors over the last year of potential buyers and amounts of money they offer for the island.

The Nation



PM Confirms Report on Thaksin’s Bid for Island in Montenegro

abhisit_thumbThe Prime Minister says he has been informed about former PM Thaksin Shinawatra’s plans to buy part of an island in Montenegro. However, the premier says he is waiting for more information before making any comment or taking action.

Prime Minister Abhisit Vejjajiva said local authorities informed him about ousted PM Thaksin Shinawatra’s plan to buy part of an island in Montenegro, but says he is waiting for confirmation and any details before acting.

Thaksin reportedly wants to buy the property in response to complaints that he had received a passport from Montenegro.

Earlier, the Daily Express, a leading paper in Montenegro, reported that Thaksin, a fugitive from the Thai justice system, is bidding for part of a Montenegrin island named Sveti Nikola which is known as the Hawaii of Montenegro. The island reportedly has three beaches stretching for 840 meters.

The First Bank of Montenegro has advertised the 37,000 square-meter property for sale at 21 million euros. Thaksin, who has been sentenced to two years in prison for abuse of power in Thailand, made the surprise bid after it was learned that he had received a Montenegrin passport. The Thai government has revoked his Thai passport.

The newspaper reported that the property, which is home to the best scenery on the island, was previously owned by Serbian businessman Stanko Subotic, who paid 20 million euros for it a couple of years ago.

Subotic had announced his intention to develop the property into a massive tourist resort, but was later thwarted when Serbia issued an arrest warrant for him on charges of smuggling cigarettes.

The First Bank of Montenegro offered the property at auction several months ago, but no buyers were willing to meet the minimum bid of 28 million euros. The next auction is scheduled for May 23rd at the bank.

In response to news that Thaksin had obtained a Montenegrin passport, managing director of the Network for Affirmation of the Non-governmental Sector, Vanja Calovic, contacted the Transparency International Organization to protest against the move.

European NGOs have demanded that Montenegro’s interior ministry reveal the details of the issuance of the passport as well as Thaksin’s qualifications for receiving it. They claim he is not eligible for a Montenegrin passport because he does not have Montenegrin citizenship.

TAN Network


Noppadon confirms Thaksin holds Montenegro passport, bid for island there

noppadon_thumbNoppadon Pattama, an advisor of former prime minister Thaksin Shinawatra, Wednesday confirmed that Thaksin is holding Montenegro passport. Thaksin is bidding to buy Sveti Nikola Island near Budva. Thaksin saw the potential that the island could be developed into a tourist destination.

Noppadon also confirmed that

Noppadon said

The Nation


MFA orders investigation into Thaksin’s Montenegrin passport

Convicted Thaksin holds Montenegro passport


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