Pattaya Daily News

13 July 2008 :: 13:07:57 pm 3760

Nishita Shah; 19th Richest Person in Thailand

Recently, Forbes Asia published a Thailand rich list on July, 10 2008 in Singapore. The rankings are almost filled with the same face as in the lists of 2006 and 2007. The Asia rich lists have been sponsored by SG Private Banking (Asia Pacific).
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Thailand, the 13th of July 2008 [Pattaya Daily News]: Chaleo Yoovidhya 76-year old, the Thailand richest, worth $4 billion, returns to his number one spot. He is $500 million, thanks to strong global sales of his Red Bull energy drink. Turnover for the energy drink nearly doubled since 2004 to $4.2 billion, and a cola version of the beverage is in the offing.

The second richest separated by $100 million from Thailand’s richest. Charoen Sirivadhanabhakdi. The 64-year old beer maker is running up, his wealth grow by $600 million to $3.9 billion. The street vendor’s son got rich in whiskey and beer, and took his company Thai Beverage public in Singapore two years ago. Charoen and Chaleo are first-generation entrepreneurs who still hold the bulk of their wealth, an increasing rarity among the top 40.

The notable and outstanding rich woman in all rankings is clearly seen to be Nishita Shah, an Indian origin who is the youngest on the list along with her family, she is ranked No. 19 and worth $375 million. The 28-year old is featured in a profile story in this week’s issue of Forbes Asia. She spoke about her plan of launching her own fashion label “Nsha” on three continents at the end of the year as well as helping to manage her family’s 140-year old business which includes Thai-listed Precious Shipping as her farther, Kirit Shah, last year made her a managing director of GP Group.

Nishita was born to be a business woman. To follow her father’s steps, she had graduated from Boston University with a degree in business and finance. For four years she learned all about the various companies, visiting most of them.

“My dad said I could study anything I wanted as long as it was business,” is her favorite speech.

Not business alone she concentrated on, but she also has gone through something “creative” as she like to say. Her father suggested that she had fulfilled one of his own dreams and study flying. She earned an instrument rating for a single-engine plane and a private pilot’s license. In between flights she took yoga and surfing lessons.

With her clothing company “Burn Baby” with a mission statement “luxury active wear” for “modern urbanite women”. Nishita is a hands-on executive. At the same time she continues to read coal, shipping and metal reports every morning and sits in on meetings on the 15 days of the month when her father is overseas.

Aside from Nishita Shah’s companies, her father, Kirit, has collected stakes in all sorts of companies for the GP Group. Here are some of what GP’s invested in, including the clan’s percentage stakes: Alva Aluminum 75%, Amari Atrium Hotel 95, Ambika 100, Eka 75, Mega LifeSciences 75 , MJets 50 and Premthai Energy 100.

Other noteworthy richest from media fields are;

Chairman and CEO of Bangkok Broadcasting & TV Krit Ratanarak is ranked No. 5 with his family. With a net worth of $1 billion, they are one of five individuals or families to make the billion-dollar club this year, compared with only three last year. Following closely behind are Praneetsilpa Vacharaphol & family at No. 6 with $940

Praneetsilpa Vacharaphol 76-year old& family at No. 6 with $940 million. Her late husband, Kampol, founded Thai Rath, largest newspaper in Thailand. She runs its foundation and with 38% stake, is its largest shareholder. Her son Saravut, the daily’s editor- in-chief, and daughter Yinglak, its president, both own 28% and were listed separately last year.

Closely followed by Vichai Maleenont, 90-year-old& family ranked no.7

Worth $880 million. A high school graduate cofounded BEC World 38 years ago. Media group, which posted its best year in 2007, has 23 subsidiaries. Most of the income comes from Channel 3 TV network. He is still chairman, transferred shares to his children, 5 of whom are BEC executives, including Vice Chairman Prasan.

The nation’s former prime minister Thaksin Shinawatra & family, he is ranked No. 16, Worth $400 million. He was ousted in 2006 coup and avoided corruption charges by moving to U.K. Thai authorities froze $2 billion in assets, largely from family’s sale of Shin Corp. He founded telecom company. He bought Britain’s Manchester City football club in 2007.

Another richest from media business Surang Prempree, 66 worth $335 million. She is ranked No. 20. She is the managing director of Bangkok Broadcasting & TV, cofounded by her late mother Reywadee Thienprapart and late brother Lieutenant Colonel Chaicharn Thienprapart.

The other remaining richest of Thailand whom are not yet mentioned are;

3) Chirathivat family, $2.8 billion
4) Dhanin Chearavanont & family, $2 billion
5) Krit Ratanarak & family, $1 billion
8) Chamnong Bhirombhakdi & family, $820 million
9) Somporn Juangroongruangkit & family, $580 million
10) Anant Asavabhokin, $525 million
11) Sunsurn Jurangkool& family,$520 million
12) Prayudh Mahagitsiri & family, $515 million
13)Boonchai Bencharongkul & family, $475 million
14)Isara Vongkusolkit & family, $470 million
15) William E. Heinecke& family,$460 million
17)Vanich Chaiyawan & family,$390 million
18)Thongma Vijitpongpun, $380 million
21)Nantha Chinthammit & family, $330 million
22)Prasert Prasarttong-Osoth, $245 million
23) Prapa & Wit Viriyaprapaikit & family, $210 million
24)Niti Osathanugrah,$200 million
25) Premchai Karnasuta,$195 million
26)Vichai Raksriaksorn,$190 million
27)Chalerm Yoovidhya, $185 million
28)Kasem Narongdej & family,$180 million
29)Anek Sithiprasasana,$177 million
30)Petch & RatchOsathanugrah,$175 million
31)Porndee Lee-Issaranukul & family,$170 million
32)Vicha Poolvaraluck,$165 million
33)Nijaporn Charanachitta,$160 million
34)Vikrom Kromadit,$145 million
35)Phornthep Phornprapha E, $140 million
36)Kraisorn Chansiri & family, $115 million
37)Paiboon Damrongchaitham,$110 million
38)Plew Trivisvavet & family,$100 million
39)Sumate Tanthuwanit & family,$85 million
40)Malinee Kitaphanich & family, $65 million

Reporter : Methawee   Photo : Internet   Category : Business News

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