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Embedding different values, family businesses across the globe pursue a common goal: growth. For that, many have turned to stock exchanges in search of new funds. That is also the case in Thailand. Out of 791 companies listed on the Stock Exchange of Thailand (SET) and the Market for Alternative Investment (mai) polled at the end of 2022, 451 companies or 57 percent identified as family businesses. They have been in existence for an average of 34 years, and one business is 146 years old. Based on SET Note Vol. 14/2023, a listed family business is defined as a company in which a family holds more than 20 percent of listed shares and has management control or a family-controlled company where a family owns more than one-fourth of listed shares. Out of the 331 family businesses listed on the main board, most are in the Food & Beverage, Commerce, Healthcare Services, Construction Materials, and Personal Products & Pharmaceuticals sectors, operating the original businesses established by their first generations. Approximately three-fourths of companies in these sectors are family businesses. Most of the rest listed on mai (second board) are in the Services, Property & Construction, and Industry groups. These businesses have achieved the objectives of their listing. At the end of 2022, they constituted 43.2 percent or US$258.58 billion (THB9.07 trillion) of total market capitalization. Their market cap had grown 6.7 percent on a yearly average from 2016 – 2022, driven mainly by an increase in share prices, new initial public offerings (IPO), and their profit profiles. Notably, their combined market caps dropped 11.1 percent from that level to US$237.36 billion (THB8.06 trillion) at the end of June 2023, when the SET Index fell 11.0 percent. However, the market cap had not taken into account newly listed family companies in the first half of 2023. During 2017 – 2022, listed family businesses saw an average annual growth rate of 14 percent in total assets, reaching US$699.17 billion (THB22.8 trillion). Compared with all listed companies, their total assets accounted for 47.3 percent as of the end of 2022. Listed family businesses performed reasonably well with an average annual revenue growth of 9.2 percent between 2017 – 2022, including a combined revenue of US$209.44 billion (THB6.83 trillion) or 36.8 percent that of all listed companies in 2022. Net profit growth averaged 5.1 percent per annum. Notably, their six-year net profits accounted for 46.1 percent that of all listed companies. In 2022 alone, listed family businesses’ net profits reached US$12.31 billion (THB431.59 billion) or 44.3 percent that of all listed companies. To achieve growth and enduring prosperity, 149 family businesses entered the bourses from 2016 through 2022, and their IPOs were valued at US$9.32 billion (THB308.3 billion) or 58 percent of the total amounts raised by 212 newly-listed companies during the period. On their first trading days, their combined market cap was as high as US$45.34 billion (THB1.5 trillion) or 60 percent of all IPOs. During those years, 45 family business companies raised another US$305.02 million (THB10.09 billion) in fresh funds through secondary offerings. In an age where sustainability has become an important issue to society and consumer behaviors, many of the listed family businesses are also pursuing sustainable growth. Eighty-six businesses are included in the Thailand Sustainability Investment Index (THSI), which includes 170 companies that are continuously creating long-term returns through responsibilities to society (Social) and the environment (Environmental) and transparency in line with corporate governance principles (Governance). Overall, these 451 listed family businesses have been an important component of the Thai economy and have made significant contributions to society. In 2022, their combined revenue was as high as 39.3 percent of Thailand’s gross domestic product (GDP). They paid US$2.9 billion (THB101.59 billion) in taxes, constituting 27.1 percent of the overall listed companies’ corporate income tax payments or 13.6 percent of all collected corporate taxes. The 2021 figures showed that together, they employed 925,256 people. Apart from the access to capital to accelerate growth, going public makes family businesses more attractive to talents and consequently puts solid management mechanisms in place to pave the way towards a resilient and sustainable future, while keeping the family legacy alive. Full story: THAILAND NOW 2023-10-25 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

British Tourist Trips on Road Stud and Breaks Nose in Pattaya PHOTO: Matichon Business operators in Pattaya are urging city officials to address a street accident involving a British tourist who tripped over a road stud and ended up with a broken nose. Full Story: https://aseannow.com/topic/1310205-british-tourist-trips-on-road-stud-and-breaks-nose-in-pattaya/

Business operators in Pattaya are urging city officials to address a street accident involving a British tourist who tripped over a road stud and ended up with a broken nose. The incident has brought wider attention to the conditions of various sidewalks and paths across Pattaya. On Tuesday, October 24th, Mrs. Lamphueng ‘Lisa’ Hamilton, chairperson of the Pattaya Nightlife Business Association, revealed to local media that road studs on a street near Jomtien Beach have become quite an issue for pedestrians. This comes after several tourists tripped over them, resulting in injuries, some of which were serious. According to Mrs. Lamphueng, an unidentified British tourist recently stumbled on a road stud and hit his face on the street. The tourist’s nose was fractured, and he was rushed to a local hospital. The accident was clearly captured on a surveillance camera of a nearby business. It showed the tourist tripping over a road stud, causing him to lose balance and lunge forward before hitting his face on the ground. Mrs. Lamphueng provided the footage to the media for publication. By Tanakorn Panyadee Caption: PHOTO: Matichon Full story: The Pattaya News 2023-10-24 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Leveraging postage stamps as a soft power to boost the economy For the past several years, postal service providers around the world have faced new challenges as digitalization has taken hold, a situation that significantly accelerated during the Covid-19 pandemic. The internet and social media platforms that make communication today much easier and faster have brought traditional letter writing almost to a halt, reducing the demand for so-called ‘snail mail’ and postage stamps. Full Story: https://aseannow.com/topic/1310203-leveraging-postage-stamps-as-a-soft-power-to-boost-the-economy/

For the past several years, postal service providers around the world have faced new challenges as digitalization has taken hold, a situation that significantly accelerated during the Covid-19 pandemic. The internet and social media platforms that make communication today much easier and faster have brought traditional letter writing almost to a halt, reducing the demand for so-called ‘snail mail’ and postage stamps. Like its peers around the world, Thailand Post has felt the pinch. “Thais do not seem to enjoy writing and mailing a letter to communicate with friends and family like they used to. But most of the Japanese still do it,” said Pasu Unhanandana, chief commercial officer of Thailand Post. Full story: Thai PBS 2023-10-24 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Thai man busted with 5 kilos of methamphetamine ‘ice’ hidden under car chassis Photo courtesy of Khaosod A Thai man was arrested for concealing 5 kilogrammes of methamphetamine, also known as ice, in a hidden compartment under the chassis of his vehicle. The suspect, identified as 37 year old Phutthinan, also known as Gift, from Hat Yai, Songkhla, claimed to be a tourist. However, police were suspicious and had his vehicle examined by a mechanic who discovered the hidden compartment. Full Story: https://aseannow.com/topic/1310200-thai-man-busted-with-5-kilos-of-methamphetamine-‘ice’-hidden-under-car-chassis/

A Thai man was arrested for concealing 5 kilogrammes of methamphetamine, also known as ice, in a hidden compartment under the chassis of his vehicle. The suspect, identified as 37 year old Phutthinan, also known as Gift, from Hat Yai, Songkhla, claimed to be a tourist. However, police were suspicious and had his vehicle examined by a mechanic who discovered the hidden compartment. In light of the government’s anti-drug policy, the police, including Colonel Torasak Sukvimol, Deputy Commander of the Royal Thai Police and others, have been vigilant in their efforts to prevent and suppress all types of illegal activities. During the long holiday between October 21 and 23, many tourists flocked to Thong Pha Phum and Sangkhla Buri districts, among whom some may have been involved in illegal activities. Following the orders of superior officers and Deputy Inspector General Suradet Mekanuwong, the staff of various departments were ordered to remain vigilant against all forms of illegal activities. On October 23, around 2.30pm, officers stationed at the Thong Pha Phum checkpoint intercepted an Isuzu D-Max pickup truck with the registration number KCJ9277 from Surat Thani. Phutthinan, the driver, was initially cooperative and claimed to be a tourist visiting the Mon Bridge and the Three Pagodas Pass in Sangkhla Buri. An initial search of the vehicle revealed no contraband. However, a detailed inspection revealed modifications to the vehicle’s chassis, which was painted over with spray paint. The vehicle was taken to a garage for further examination. By Nattapong Westwood Caption: Photo courtesy of Khaosod Full story: The Thaiger 2023-10-24 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Bangkok taxi driver caught masturbating in front of female passenger Photo via TikTok/ @loveis1ee and Channel 3 A Thai woman shared a video of a perverted taxi driver in Bangkok masturbating in the cab on TikTok to warn other female passengers travelling alone. The driver faces a lowly fine of just 5,000 baht and a one-month suspension for his creepy act. Full Story: https://aseannow.com/topic/1310199-bangkok-taxi-driver-caught-masturbating-in-front-of-female-passenger/

A Thai woman shared a video of a perverted taxi driver in Bangkok masturbating in the cab on TikTok to warn other female passengers travelling alone. The driver faces a lowly fine of just 5,000 baht and a one-month suspension for his creepy act. The victim shared a video on her TikTok account, @liveis1ee, showing her paying for the service while the deviant taxi driver has a hand around his penis after masturbating. The video was later deleted by the moderator of TikTok but the woman shared it with several news agencies. In the video, the victim and the taxi driver can be heard having a conversation. Victim: Don’t do this to other passengers. What is going to happen when the passenger is very afraid of your behaviour? Taxi driver: I did it because you are cute. Victim: I am a woman traveling alone. Do not ever do this again. Nobody deserves this. Taxi driver: I am sorry. Victim: I mean it. I almost jumped out of the cab many times, but I was worried about my safety. What if I get scared, jump out of the car and die? What would you do? By Petch Petpailin Caption: Photo via TikTok/ @loveis1ee and Channel 3 Full story: The Thaiger 2023-10-24 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Patong Baywatch resumes night patrols, enhancing safety at popular Thai beach Picture courtesy of Phuket News Patong Surf Life Saving has re-initiated the nighttime beach patrols to boost the safety measures at Patong Beach. Despite the details of the resumption of nighttime patrols still being under wraps by Patong Municipality and the Patong Development Fund, the initiative named Patong Baywatch has been put back into action. Full Story: https://aseannow.com/topic/1310198-patong-baywatch-resumes-night-patrols-enhancing-safety-at-popular-thai-beach/

Patong Surf Life Saving has re-initiated the nighttime beach patrols to boost the safety measures at Patong Beach. Despite the details of the resumption of nighttime patrols still being under wraps by Patong Municipality and the Patong Development Fund, the initiative named Patong Baywatch has been put back into action. The precise number of night watchmen designated for the beach remains unconfirmed. However, the resumed patrols aim to cover extensive areas of the beach and stay prepared with the necessary equipment for surf rescues. Last Wednesday, a tourist was safely brought back to the shore by a Patong Baywatch patrol around 9pm, revealed announced Patong Surf Life Saving. “Patong Municipality has deployed lifeguards who are on duty from dusk till dawn, bridging the gap between the main rescue shifts.” The organisation further explained that now, certain portions of the beach have lifeguards on duty both during the day and night, assuring 24-hour surveillance. This is in collaboration with the volunteer beach patrol — Patong Baywatch service by the Patong Development Foundation. By Mitch Connor Caption: Picture courtesy of Phuket News Full story: The Thaiger 2023-10-24 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

2-metre long snake coiled around dead body of Burmese man Photo courtesy of Khaosod In a harrowing incident in the community of Wat Samrong Nua, Samut Prakan, a rescue team had a challenging mission to retrieve the body of a 26 year old Burmese man, that involved a 2-metre long snake. Full Story: https://aseannow.com/topic/1310197-2-metre-long-snake-coiled-around-dead-body-of-burmese-man/

In a harrowing incident in the community of Wat Samrong Nua, Samut Prakan, a rescue team had a challenging mission to retrieve the body of a 26 year old Burmese man, that involved a 2-metre long snake. The Burmese man had taken his life in the bathroom of a worker’s dormitory at an old safe production factory. The retrieval took an unexpected turn when the 2-metre long snake was found coiled around the deceased’s body, refusing to budge. After two and a half hours of struggle, the 2-metre long snake, identified as a python, was eventually subdued and captured by the rescue team, who were experienced in handling snakes. The 2-metre long snake was found slithering close to where the Burmese man ended his life and even coiled around the roof. The incident was reported by Amarin TV. According to a co-worker of the Burmese man, there is a belief that after a person dies, their spirit enters a snake. This belief gave rise to the thought that the python was circling the body due to the presence of the deceased’s spirit within it. Only after the python was captured could the body be successfully retrieved, reported Khasod. By Nattapong Westwood Caption: Photo courtesy of Khaosod Full story: The Thaiger 2023-10-24 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Fearless Thai woman swoops in to rescue boy kidnapped by homeless man Photo via Channel 8 A Thai woman bravely swooped to the rescue of an eight year old boy kidnapped by a homeless man and taken to beg at Bang Phi Yai Nai temple in Bang Phi district of the central province of Samut Prakarn. Full Story: https://aseannow.com/topic/1310196-fearless-thai-woman-swoops-in-to-rescue-boy-kidnapped-by-homeless-man/

A Thai woman bravely swooped to the rescue of an eight year old boy kidnapped by a homeless man and taken to beg at Bang Phi Yai Nai temple in Bang Phi district of the central province of Samut Prakarn. A Thai woman contacted the police and the Mirror Foundation after her grandchild, eight year old Jirayu “Bank” Mongko, went missing. The woman told officers that she had taken Bank to a charity event at a Chinese shrine in Samut Prakarn on Friday, October 20. While waiting to receive free goods at the event, her grandson disappeared. The shrine’s caretaker, 57 year old Suthin Boonyoo, told ThaiRath that he received a complaint about the missing boy at around 2pm. Both shrine officials and visitors helped in the search for the boy. He was last seen on an overpass 500 metres from the shrine. Suthin said he checked the shrine’s security camera and discovered that a homeless man named Kaew had taken the boy out of the shrine. Suthin said Kaew usually visited the shrine to clean in exchange for food or money. According to Suthin, Kaew always talked to the boys who visited the shrine and had previously been arrested for kidnapping in 2016. He was released from prison two years before this latest abduction. However, Suthin could not identify the reason for the abduction, whether it was related to sexual assault or just to help him beg for money. By Petch Petpailin Caption: Photo via Channel 8 Full story: The Thaiger 2023-10-24 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Deadly minivan crash in northeast Thailand leaves one dead and 15 injured Picture courtesy of Pattaya News A deadly minivan crash resulted in one fatality and left 15 individuals injured in the Sang Kha district of Surin, northeast Thailand. The incident unfolded on Sunday on No. 24 Road (Chokchai – Det-U-Dom Road) in Baan Santisuk, situated within the Phra Kaew sub-district. Emergency services swiftly arrived at the scene where they discovered an upturned minivan by the roadside. Full Story: https://aseannow.com/topic/1310194-deadly-minivan-crash-in-northeast-thailand-leaves-one-dead-and-15-injured/

A deadly minivan crash resulted in one fatality and left 15 individuals injured in the Sang Kha district of Surin, northeast Thailand. The incident unfolded on Sunday on No. 24 Road (Chokchai – Det-U-Dom Road) in Baan Santisuk, situated within the Phra Kaew sub-district. Emergency services swiftly arrived at the scene where they discovered an upturned minivan by the roadside. The driver of the vehicle, 26 year old Siam Poomdee was found with moderate injuries. He told local media that he may have fallen asleep at the wheel. “I was en route from Bangkok to Sisaket with 15 passengers. I may have drifted off while driving.” The deadly minivan crash resulted in four individuals suffering from major injuries, while a further 11 people experienced minor ones. Among the passengers was 47 year old Nanthida Saenpang from Sisaket. She was later declared dead at a nearby hospital, reported Pattaya News. By Top Caption: Picture courtesy of Pattaya News Full story: The Thaiger 2023-10-24 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Thai man’s fake modelling agency a ruse to sexually assault victims Photo via PPTV HD A 19 year old Thai woman filed a complaint against a Thai man for running a fake modelling agency and pretending to be a transwoman so he could sexually assault victims. Full Story: https://aseannow.com/topic/1310193-thai-man’s-fake-modelling-agency-a-ruse-to-sexually-assault-victims/

A 19 year old Thai woman filed a complaint against a Thai man for running a fake modelling agency and pretending to be a transwoman so he could sexually assault victims. The victim, 19 year old Nut, said she posted a picture of herself on a Facebook group on October 19 announcing she was looking for acting jobs. A Thai man pretending to be a transwoman introduced himself to Nut, saying he was Mother A and that he was interested in hiring her to act in a promotional video. Nut said she did not respond to A until she saw that he had posted in a group that he was looking for actors and actresses to work for the famous film production company, Thibaan Channel. Nut explained that she decided to contact A because the production team was well known after their newly released film, Sup-Pa-Rer (The Undertaker), grossed over 500 million baht nationwide. According to Nut, A added her to a group on the LINE application and invited her to a casting session at his house. Nut agreed and told A that she would bring her father. A was angry and insisted that Nut should visit him alone. Nut decided to cancel the casting, which made A even angrier and condemned Nut on Facebook and LINE groups for cancelling work. Nut said she felt this was not fair to her and made a post to clarify the issue and clear her name. Unexpectedly, some victims appeared in her post saying they had been lured to meet A and were sexually assaulted. Some victims revealed that A had sent them lewd messages while contacting them for work. By Petch Petpailin Caption: Photo via PPTV HD Full story: The Thaiger 2023-10-24 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Thai Cabinet Approves Extended Bar Hours, to Be Announced Tomorrow The Thai Cabinet has approved, in principle, the extension of operating hours for entertainment venues, Karom Phonphonklang, Deputy Spokesperson for the Prime Minister’s Office, announced on Tuesday, October 24th. Full Story: https://aseannow.com/topic/1310192-thai-cabinet-approves-extended-bar-hours-to-be-announced-tomorrow/

The Thai Cabinet has approved, in principle, the extension of operating hours for entertainment venues, Karom Phonphonklang, Deputy Spokesperson for the Prime Minister’s Office, announced on Tuesday, October 24th. However, the official duration and areas where it will take effect is still waiting for a final decision by the Ministry of Interior, which is set to meet tomorrow, October 25th. The current proposal is to extend the closing hours by 2 hours, shifting from the original 2 AM to 4 AM. The new operating time will likely be applied to areas popular with tourists such as Pattaya and Phuket. By Tanakorn Panyadee Full story: The Pattaya News 2023-10-24 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Cabinet Approves Reduction of 2.50 Baht in Gasohol 91 Price BANGKOK, Oct 24 (TNA) – The Thai Cabinet has given its approval to reduce the retail price of gasohol 91 by 2.50 baht per litre as proposed by the Ministry of Energy for a period of three months. Full Story: https://aseannow.com/topic/1310191-cabinet-approves-reduction-of-250-baht-in-gasohol-91-price/

BANGKOK, Oct 24 (TNA) – The Thai Cabinet has given its approval to reduce the retail price of gasohol 91 by 2.50 baht per litre as proposed by the Ministry of Energy for a period of three months. Deputy Prime Minister and Energy Minister Pirapan Salirathavibhaga made this announcement via a Facebook post. He reported that he has informed the Prime Minister and the Cabinet about the progress in the strategy to reduce gasoline prices, specifically for Gasohol 91, which was initially discussed during a Cabinet meeting last week. Full story: Thai News Agency 2023-10-24 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Anutin Leads MPs to Watch “The Undertaker” BANGKOK, Oct 24 (TNA) – Deputy Prime Minister and Interior Minister Anutin Charnvirakul on Tuesday led MPs from the Bhumjaithai party to watch the movie “The Undertaker”. Full Story: https://aseannow.com/topic/1310190-anutin-leads-mps-to-watch-“the-undertaker”/

BANGKOK, Oct 24 (TNA) – Deputy Prime Minister and Interior Minister Anutin Charnvirakul on Tuesday led MPs from the Bhumjaithai party to watch the movie “The Undertaker”. Meanwhile, Prime Minister Srettha Thavisin will watch the movie tomorrow along with cabinet members and head of Pheu Thai family Paetongtarn Shinawatra. Anutin said Bhumjaithai Party MP Siripong Angkasakulkiat is an executive producer of the movie which helps promote soft power. Full story: Thai News Agency 2023-10-24 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe