Thailand's ruling party concedes election defeat

Thailand's ruling Democrats have conceded defeat in the general election after exit polls showed a political party led by a scandal-tainted tycoon was sailing to an easy victory.

Abhisit Vejjajiva, deputy leader of the Democrat Party, which is headed by Prime Minister Chuan Leekpai, said: "We are ready to be the opposition party."

Polls by three television stations showed the Thai Rak Thai (or Thai Love Thai) Party leading by wide margins in the contest for 500 parliamentary seats. The poll results - 209-118, 230-107 and 241-133 - were based on information gathered by reporters, pollsters and non-government organisations.

But the Election Commission said it had received a flood of complaints about alleged polling fraud that could lead to disqualification or re-votes for some 100 winners.

Commissioner Sawat Chotipanit told reporters: "It is too early to count on the exit polls. The commission has a lot of cases of hopeful winners to review."

Polls closed at 3pm local time (8am GMT) after a voter turnout which early reports estimated at 60%. Final unofficial election results are not expected until tomorrow.

The Thai Rak Thai Party and its leader Thaksin Shinawatra, 51, the founder of the country's biggest telecommunications firm, had aimed to capture at least 200 seats in the lower House of Parliament, enabling it to form a coalition government.

After the exit polls were announced, Thaksin said his party might form a coalition with the New Aspiration and the Chart Thai (or Thai Nation) parties.

Chuan, the scrupulously honest but unexciting leader of the Democrats, said he would "humbly respect the people's" large vote for his opponents.

The 62-year-old leader said: "Brothers and sisters. We did our best. Now, people desire political change and we have to respect the people's decision."