Results 1 to 6 of 6
  1. #1
    Thailand Expat tomcat's Avatar
    Join Date
    Nov 2005
    Last Online
    @
    Posts
    10,153

    Drinks Titan Scores Again

    Thai Tycoon Adds $2.5 Billion to His Wealth on Beer, Spirits

    By Anuchit Nguyen (Bloomberg)

    Thailand’s richest man added $2.5 billion to his fortune this year even before snapping up Starbucks Corp.’s local operations to cement his group’s position as a consumer-sector titan.

    Charoen Sirivadhanabhakdi’s net worth has risen to $13.4 billion mostly due to a 32% gain in Singapore-listed Thai Beverage Pcl shares, according to the Bloomberg Billionaires Index. A company affiliate is part of a venture buying out Starbucks’ Thai operations, a transaction that could value the business at more than $500 million.

    Buying Starbucks’ Thailand operations extends Charoen’s strategy of taking his empire beyond beer and whiskey in Southeast Asia’s second-biggest economy. He’s also expanded into the alcoholic beverage sectors in Myanmar and Vietnam.

    "Charoen’s thirst for new deals will stretch beyond beverages, allowing his group to fortify its position as a consumer-sector heavyweight," said Thomas Jastrzab, an analyst at Bloomberg Intelligence. "An increasingly extensive drink portfolio should secure strong positions in both on-premise and off-premise channels, bolstering long-term profitability."




    Charoen’s wealth peaked at $17.7 billion in January 2018 before the shares of his flagship beverage company slumped as waning Thai beer and spirit sales dragged first-half earnings lower. Thailand has banned advertising and raised taxes on alcoholic beverages to curb consumption.

    In 2017, Charoen’s Thai Beverage bought more than 240 KFC restaurants in Thailand for about 11.3 billion Thai baht ($355 million). It also acquired a 75% stake in the maker of Myanmar’s leading whiskey brand for about $742 million, its first major investment into the country.

    Charoen plans an initial public offering of a Thailand-based property business this year that could raise at least $1.5 billion, according to a Bloomberg report in October. He also controls Berli Jucker Pcl, a century-old trader and consumer goods manufacturer, Golden Land Property Development Pcl, Fraser & Neave Ltd. and Frasers Property Ltd.
    In Singapore, shares of Thai Beverage fell 1.2% as of noon in the city state, while Fraser & Neave dropped 1.1% and Frasers Property was little changed. In Bangkok, Berli dropped 3%, while Golden Land was little changed.

    Charoen was unavailable for comment after calls to his office in Bangkok.
    Majestically enthroned amid the vulgar herd

  2. #2
    Thailand Expat

    Join Date
    Mar 2015
    Last Online
    @
    Posts
    15,841
    Quote Originally Posted by tomcat View Post
    Charoen’s wealth peaked at $17.7 billion in January 2018
    Quote Originally Posted by tomcat View Post
    Charoen’s thirst for new deals will stretch beyond beverages
    I really don't understand why anybody would keep working and striving for more once they had a couple of billion. Hand the reins over to heirs or sell up. Sit back and enjoy life.

  3. #3
    Thailand Expat
    kmart's Avatar
    Join Date
    Dec 2008
    Last Online
    Today @ 10:19 AM
    Location
    Rayong.
    Posts
    10,530
    ^The apparent urge to flood the world and poison everyone with awful beer and gutrot whisky.?

  4. #4
    Thailand Expat cyrille's Avatar
    Join Date
    Oct 2006
    Last Online
    Today @ 09:29 AM
    Posts
    16,142
    I guess his enjoyment of life must come from adding more zeros before the dot on his net worth.

    It is a shame he doesn’t see creating products that aren’t shit as a challenge too, though.

  5. #5
    Thailand Expat
    kmart's Avatar
    Join Date
    Dec 2008
    Last Online
    Today @ 10:19 AM
    Location
    Rayong.
    Posts
    10,530
    ^'Quality' is illegal here.

  6. #6
    Days Work Done! Norton's Avatar
    Join Date
    Oct 2007
    Last Online
    @
    Location
    Roiet
    Posts
    29,826
    ThaiBev has interesting history. Tried to to list on Thai Stock exchange but monk protests and then PM Thaksin prevented it. Ended up listed on Sing stock exchange.

    Charoen is a clever rich dude.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •