Richest Thai tycoons just got 16% richer
JUNE 4, Forbes published collective net worth of 50 richest tycoons in Thailand with a 16% increase over 2016 to US$123.5 billion.
The biggest gainers in dollar are the Chearavanont brothers of the Charoen Pokphand Group with $21.5 billion fortune, $3 billion more over last year.
The 2nd on the rank still belongs to liquor tycoon Charoen Sirivadhanabhakdi with $15.4 billion, $2 billion more than $13.7 billion last year.
The 3rd rank goes to Central Group’s Chirathivat family with $2 billion more net worth than last year’s 13 billion to $15.3 billion.
Although the 4th rank belongs to Chalerm Yoovidhya who heads the Red Bull clan but he is the biggest gainer in dollar terms. His wealth was up $2.8 billion to $12.5 billion this year.
King Power duty-free tycoon Vichai Srivaddhanaprabha is at no.5, having added $1.45 billion to his fortune to $4.7 billion. He earned his spot among the top five owing to Thailand’s tourism boom, which drew a record 32.6 million visitors in 2016 which translated to 20% increase in his stores sales.
This list was compiled by bringing together shareholding and financial information obtained from the families and individuals, stock exchanges and analysts, the Stock Exchange of Thailand and regulatory agencies. It also includes family fortunes, including those shared among extended families of multiple generations. Public fortunes were calculated based on stock prices and exchange rates as of May 18. Private companies were valued based on comparisons with similar companies that are publicly traded.
Top: Dhanin Chearavanont heads the agribusiness conglomerate Charoen Pokphand Group, in which he and three older brothers own 13% apiece. Photo: Cm-inv.com
Mandatory tourist insurance suggested
Monday June 5, the Tourism and Sports Ministry committee proposed to the national tourism policy commission the idea of making the evidence of travel insurance a required document to be presented along with the passport of tourists arriving Thailand.
According to an informed source, the proposal was part of a plan to promote Thailand as a wellness tourism hub and should not be a “hurdle” to visitors.
The idea was initially proposed last year by the Tourism and Sports Ministry mainly for the reasons of inadequate number of staffs needed to oversee the safety and welfare of the growing number of tourists. Many tourists couldn’t afford their hospital bills during their stay in Thailand and left these burdensome costs to the hospital to carry.
Under the proposal, the Office of the Insurance Commission would draft details on insurance policies and distribution channels, including the installation of vending machines at international airports and border checkpoints.
Above: Tourists arriving in Thailand. Photo: VoiceTV
DSI urged to deal with pyramid schemes
Wednesday June 7, the Stop Money Game Association led by its president Samart Jenchaijitawanit took victims (and additional related documents) from the alleged fraud cases to the DSI to ask the agency to accept them as special cases
The first case encompasses the baiting of 200 complaint-filed victims to invest in seminar packages ranges from 4,500 – 108,000 baht in relation with System Plug and Play Co and Innovision Holding Co. The victims were promised weekly return for a year and commission on additional members invited.
The second case is about 480 victims (Lao people included) lured into investing in mulberry cultivation scheme with Phunumlumchee International to receive monthly 12,000-baht dividend from their purchased shares plus commission when more investors persuaded.
The third case involves Siam Grandeur Management Co and Globalview Consulting Co, which allegedly tricked people into investing in stocks and gold trading.
Deputy Director of the DSI’s Bureau of Special Crime 1 Pol Lt Col Anon Untarichan said the DSI director-general will consider if the seminar package scam meets the criteria for a special case. From the swindle plan and value of the damage, it is likely to be accepted.
For the mulberry cultivation and stock and gold trading cases, witnesses needed to be asked more question and the complete figures of the victims’ damages needed to be verified, said Pol Lt Col Anon.
Above: Pyramid scheme victims protesting recently. Photo: VoiceTV
By Piboon Awasdaruharote