BANGKOK - THAI Finance Minister Surapong Suebwonglee has withdrawn from a new coalition government to concentrate on fighting graft charges in court, newspapers reported on Thursday.

The Bangkok Post quoted Mr Surapong, secretary-general of the biggest ruling People Power Party, as saying he would wait for a court verdict before deciding whether to continue in politics.

Mr Surapong, a medical doctor who owned a chain of weight-loss clinics before entering politics, was not answering his mobile phone on Thursday.

Former Finance Minister Thanong Bidaya or top private banker Mr Olarn Chaipravet have emerged as front runners to replace him, the Nation daily reported.

Mr Thanong was a top private banker and twice finance minister, presiding over the devaluation of the baht that led to the Asian financial crisis in 1997. Mr Olarn, also a banker, was a senior adviser to Surapong.

The Supreme Court agreed in Jul to hear accusations that former Prime Minister Thaksin Shinawatra and his ministers, including Mr Surapong, infringed lottery laws in 2003.

Analysts expect the court to take months to rule on the case.

Parliament elected Mr Somchai Wongsawat, a brother-in-law of Thaksin, as prime minister on Wednesday to replace Mr Samak Sundaravej, who had to step down last week after being found guilty of a conflict of interest.

His cabinet also had to resign but remained as caretaker ministers.

The election of Mr Somchai will ensure continued tension with anti-government protesters who accuse the People Power Party of being a puppet of Thaksin.

Mr Somchai, a 61-year-old former judge and government bureaucrat married to Thaksin's younger sister, won a majority of parliamentary votes as the six-party ruling coalition held firm.

A swearing-in ceremony is due to take place at his home in Bangkok on Thursday after he receives royal endorsement. -- REUTERS