reporter2
27-07-12, 22:31
http://www.straitstimes.com/Money/Story/STIStory_824232.html
THAI BEVERAGE DEAL
Hawker's son rose to be Thailand's 2nd-richest man
Published on Jul 20, 2012
By Jonathan Kwok
THE Thai billionaire behind the daring swoop for shares of Fraser & Neave (F&N) and Asia Pacific Breweries (APB) hails from a humble background.
Mr Charoen Sirivadhanabhakdi, 68, is the son of a Bangkok oyster omelette hawker but has grown to become Thailand's second-richest man by selling beer and whisky.
Forbes names him the 184th richest billionaire worldwide, with a net worth of US$5.5 billion (S$6.9 billion).
With a background in the trading, liquor, banking and insurance businesses, Mr Charoen entered the beer market in 1995.
He set up a joint venture with Danish beer company Carlsberg to produce Chang Beer. A company was also set up by Mr Charoen to distribute the beer.
In 1999, Chang Beer engaged in a price war with the local market leader Singha Beer, and ended up gaining market share on the incumbent.
In May 2006, Mr Charoen listed his beer business as Thai Beverage on the Singapore Exchange mainboard. And he has not been shy to make acquisitions, alongside organic growth, to fulfil his goal of expanding in Thailand and across South-east Asia. Growth is also targeted in the non-alcoholic segment of the business.
Last year, he took over the Thai bottler of PepsiCo's drinks. The acquisition was made through Thai Beverage, which in 2008 also bought 90 per cent of Oishi Group, a Thailand-based operator of Japanese restaurants and producer of green tea.
There have been signs of more business control being handed to his children. His son Thapana was made chief executive of Thai Beverage in January 2008. Reuters reported that the latest F&N and APB deal was driven by the son, though it added the father still made the final decisions.
Mr Charoen also has investments in property, including Bangkok's Pantip Plaza mall and New York's Hotel Plaza Athenee. He also has other residential, commercial, hotel and retail investments in Singapore, Thailand, the United States and Australia.
For example, in April 2007, The Straits Times reported that he bought 47 of the 48 units of Singapore development Suites @ Cairnhill a day before a private preview sale. He would have grabbed all of them but for a law stipulating that foreigners cannot own all the units of a development, it was reported.
He controls much of his empire through his holding company, TCC Holding. He has also ventured into sports, most notably English soccer.
In 2004, he teamed up with then Thai Prime Minister Thaksin Shinawatra to try to take over Liverpool Football Club. Though that did not go through, he later won a sponsorship deal with Everton, another English football club, to advertise Chang Beer.
[email protected]
THAI BEVERAGE DEAL
Hawker's son rose to be Thailand's 2nd-richest man
Published on Jul 20, 2012
By Jonathan Kwok
THE Thai billionaire behind the daring swoop for shares of Fraser & Neave (F&N) and Asia Pacific Breweries (APB) hails from a humble background.
Mr Charoen Sirivadhanabhakdi, 68, is the son of a Bangkok oyster omelette hawker but has grown to become Thailand's second-richest man by selling beer and whisky.
Forbes names him the 184th richest billionaire worldwide, with a net worth of US$5.5 billion (S$6.9 billion).
With a background in the trading, liquor, banking and insurance businesses, Mr Charoen entered the beer market in 1995.
He set up a joint venture with Danish beer company Carlsberg to produce Chang Beer. A company was also set up by Mr Charoen to distribute the beer.
In 1999, Chang Beer engaged in a price war with the local market leader Singha Beer, and ended up gaining market share on the incumbent.
In May 2006, Mr Charoen listed his beer business as Thai Beverage on the Singapore Exchange mainboard. And he has not been shy to make acquisitions, alongside organic growth, to fulfil his goal of expanding in Thailand and across South-east Asia. Growth is also targeted in the non-alcoholic segment of the business.
Last year, he took over the Thai bottler of PepsiCo's drinks. The acquisition was made through Thai Beverage, which in 2008 also bought 90 per cent of Oishi Group, a Thailand-based operator of Japanese restaurants and producer of green tea.
There have been signs of more business control being handed to his children. His son Thapana was made chief executive of Thai Beverage in January 2008. Reuters reported that the latest F&N and APB deal was driven by the son, though it added the father still made the final decisions.
Mr Charoen also has investments in property, including Bangkok's Pantip Plaza mall and New York's Hotel Plaza Athenee. He also has other residential, commercial, hotel and retail investments in Singapore, Thailand, the United States and Australia.
For example, in April 2007, The Straits Times reported that he bought 47 of the 48 units of Singapore development Suites @ Cairnhill a day before a private preview sale. He would have grabbed all of them but for a law stipulating that foreigners cannot own all the units of a development, it was reported.
He controls much of his empire through his holding company, TCC Holding. He has also ventured into sports, most notably English soccer.
In 2004, he teamed up with then Thai Prime Minister Thaksin Shinawatra to try to take over Liverpool Football Club. Though that did not go through, he later won a sponsorship deal with Everton, another English football club, to advertise Chang Beer.
[email protected]