With the opposition Pheu Thai Party gaining a majority in the House, the party's candidate for premiership Yingluck Shinawatra announced here Monday a five-party coalition composed of Pheu Thai, Chat Thai Pattana, Chat Pattana Puea Pandin, Phalangchon and Mahachon.

Yingluck Shinnawatra, prime minister candidate from the Phue Thai party and the youngest sister of former Thai Prime Minister Thaksin, celebrates victory with her supporters with big thanks at Pheu Thai Party, Bangkok, Thailand, on July 3, 2011.Thailand's opposition Phue Thai Party's prime minister candidate Yingluck Shinnawatra declared victory while ruling Democrat Party leader Abhisit Vejjajiva conceded his party's defeat hours after the voting ended in the Southeast Asian nation's general election on Sunday. [Xinhua]

The announcement came one day after the July 3 general election in which her party beat the ruling Democrat Party of Prime Minister Abhisit Vejjajiva.

According to latest election result, Pheu Thai won 265 seats in the 500-member House of Representatives; the Democrat Party, 159 ; Bhumijaithai, 34; Chartthaipattana, 19; Palung Chon, seven; Chart Pattana Puea Pandin, seven; Rak Prathet Thai Party, four; Matubhum, two and the Rak Santi party, one.

Therefore, the coalition government will possibly comprise of 299 MPs or about 60 percent of the House seats.

"299 is a good number," Yingluck said.

She stressed "reconciliation" must take place and economy be rebuilt to tackle the rising cost of living.

"Corruption is another problem that we will solve," Yingluck told a press conference.

She also vowed to restore "international relations," apparently referring to the ties with Cambodia, which were strained because of border disputes over the 10th-century-old Preah Vihear temple between the two neighbors.

The general election was held, generally speaking, smoothly nationwide in the country.

However, Bangkok Post Monday quoted the Election Commission (EC) member Somchai Jungprasert as saying that the EC has received 1, 929 complaints of election fraud and vote-buying, and evidence of poll fraud was found in five provinces in the North and the Northeast: Sukhothai, Si Sa Ket, Maha Sarakham, Buri Ram, and Chaiyaphum.

EC chairman Apichart Sukhagganond said he was pleased with the voter turnout, which some estimates put as high as 75 percent, especially given problems of bad weather and traffic.

In areas which have been the subject of complaints, the EC will conclude its inquiries into the complaints and announce confirmed poll results within 30 days, Apichart said.

Thai voters' reactions to the election results were mixed. Supporters of Yingluck cheered and were happy, while those of outgoing Prime Minister Abhisit, who announced his resignation as party chief of the Democrats on Monday morning, were upset and shocked.

Abhisit said he has already tendered his resignation letter to the party and he would take responsibility for the election results.

"When the party gains lesser voters and lesser seats in the House, I think a good leader needs to show spirit. Therefore, I decided to resign as the party leader today (Monday)" Abhisit said.

At a press conference on Sunday's election, he conceded his party's defeat and congratulated Yingluck on her decisive victory.

Yingluck has pledged to fulfill the party's campaign promises. "We'll put into practice every policy platform we have promised," she said.

On the possible return of her elder brother Thaksin Shinawatra, the ex-PM of Thailand who lives in self-imposed exile in Dubai after a bloodless coup ousted him in September 2006, Yingluck said she would leave the matter to the Truth and Reconciliation Commission.

"The party has no policy to work for (just) one man," she said.

Following the election, many people called for accepting the general election results and respecting the outcome, fearing that a new round of violence will further drive the already divided country into chaos.

The divisions of the country remain and could worsen if the results of Sunday's elections are not respected.

On Monday, the Thai military expressed its acceptance of the landslide election win by allies of former Prime Minister Thaksin Shinawatra.

Outgoing Defence Minister Prawit Wongsuwon said Monday "I have talked to military leaders. We will allow politicians to work it out. The military will not get involved."

"The people have spoken clearly so the military cannot do anything. We accept it," he said.

Over the past few years, Thailand has been plagued by political unrest. During March to May last year, the pro-Thaksin "red shirts" staged protests against the Abhisit administration. The rallies turned bloody and at least 91 people were killed.

In 2008, anti-Thaksin yellow shirt demonstrators blocked the entrance to parliament to prevent the administration of Somchai Wongsawat from entering to read the policy statement. The demonstration turned violent and two protesters were killed and hundreds more injured.