Covid -19: In times of crisis, CP lends a hand

[webfact]

In times of crisis, CP lends a hand

By THE NATION

 

Dhanin Chearavanont (Photo credit: CP E-News website)

 

Dhanin Chearavanont, a Thai billionaire and Senior Chairman of Charoen Pokphand Group Co Ltd (CP Group), announced today (March 5) that the company will invest more than Bt100 million in the construction of a face mask factory to alleviate market supply shortage, amid surging demand in the wake of the new coronavirus (Covid -19) outbreak.

 

The products will be given to hospital workers and members of the public without access to the preventive item.

 

CP decided to join in the relief efforts as it has always adhered to the principles of benefiting the nation and its people.

 

To better protect users of its face masks from contracting Covid -19, CP Group will source machinery and quality raw materials through its global network to ensure hygiene standards. The factory is scheduled to be completed within 5 weeks with a production capacity of approximately 3 million pieces per month.

 

“CP Group considers it our duty to assist our Thai brothers and sisters by producing these free masks. As we have investments in numerous countries, we have the potential to procure raw materials that may be difficult to source locally .

 

By building this face mask factory to ease people’s concerns, we are committed to giving our best to the nation. Charoen Pokphand Group was born and raised in Thailand. At nearly 100 years old, we understand the difficulty of these troubling times and we view that other private sector companies feel the same too.

 

Moreover, when everything returns to normal, this face mask facility will continue to operate with all revenues after expenses, going towards the ‘King Chulalongkorn Memorial Hospital’s Cardiac Center’, Dhanin added.

 

Source: https://www.nationthailand.com/news/30383450?utm_source=homepage&utm_medium=internal_referral

 

-- © Copyright The Nation Thailand 2020-03-06

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[bangkokfrog]

Well done. For once profit doesn't rule!

[smutcakes]

CP works to the benefit of one (or two) families. Working for the benefit of the people. What vomit inducing garbage.

 

Edit to add: great if they build it but 100 m THB is a drop in their ocean and they are doing it purely for the PR in a time when the big 5 families are starting to get some heat. 

[saengd]

2 minutes ago, smutcakes said:

CP works to the benefit of one (or two) families. Working for the benefit of the people. What vomit inducing garbage.

CP Group has issued 8.6 billion shares that are held by a range of banks, businesses and individuals, including foreign nominees, that's whose benefit CP Group works for.

[faraday]

41 minutes ago, bangkokfrog said:

Well done. For once profit doesn't rule!

Oh yes, truly benevolent.

 

 

 

[scubascuba3]

How about stop the scaremongering and only those with symptoms wear masks then there will be enough available if a big outbreak

[PatOngo]

1 hour ago, bangkokfrog said:

Well done. For once profit doesn't rule!

Oh Really? How very enlightening! ????

[rabas]

13 minutes ago, scubascuba3 said:

How about stop the scaremongering and only those with symptoms wear masks then there will be enough available if a big outbreak

So everyone without a mask can get the disease, then wear masks. Problem solved.

[PatOngo]

7 minutes ago, rabas said:

So everyone without a mask can get the disease, then wear masks. Problem solved.

You can exclude the govt, they have no face left to attach a mask to!

[scubascuba3]

12 minutes ago, rabas said:

So everyone without a mask can get the disease, then wear masks. Problem solved.

With a mask you can get the virus, that's the point people are missing

[smutcakes]

Nice little bit of thinking from CP on this one:

 

1) Announce 100m THB factory disguised as a charitable venture for the people (Gullible people lap it up)

2) By the time the facility is finished Chrono is largely obsolete

3) CP, Mitrphol, TCC, Singha, Central continue to construct mega projects, slashing crops adding to the yearly increase in PM2.5

4) Aforementioned companies strong supporters of the Government ensuring Government would not make any policies likely to negatively impact them. Eg. banning and enforcing slasing and burning crops, proper truck bans etc

5) Much fan fare as CP complete their charitable facility and pick up billions of Baht of orders for face masks from the Government because of the worsening PM2.5 crisis.

 

[tifino]

meanwhile; the CCP instead could have simply thrown the factory up quicker than their corona hospital! but did they? 

[ezzra]

Why build another factory if there are already many other existing one that either can not or will not produce more face masks? and how long will it take to set up  and build such operation, source material and workers start production and distribution like a least one year if not longer?...

[rkidlad]

I see there is a movement online to avoid buying products from the 5 big families. Only problem is these families have their fingers in nearly all the pies. 
 

CP trying to help people? Don’t make me sick. 

[colinneil]

If CP  are doing anything it is because CP benefit, make money.

Anybody who thinks they are doing this to help people, needs to visit a shrink.

[TooBigToFit]

I'd bet this corporation has made the most profit over the past 6 years of the regime. There is a new movement online starting to boycott the businesses that have supported the regimes like Prayuth's that crush democracy. CP must be at the top of that list. This act by him is just a react to his company not being well-liked because of its politically connections. I wonder would Dhanin Chearavanont think of being a PM for the group controlling the regime as well?

[saengd]

2 minutes ago, TooBigToFit said:

I'd bet this corporation has made the most profit over the past 6 years of the regime. There is a new movement online starting to boycott the businesses that have supported the regimes like Prayuth's that crush democracy. CP must be at the top of that list. This act by him is just a react to his company not being well-liked because of its politically connections. I wonder would Dhanin Chearavanont think of being a PM for the group controlling the regime as well?

Boycott the business that employees 300,000 Thai's, how stupid is that!

[scorecard]

1 hour ago, saengd said:

CP Group has issued 8.6 billion shares that are held by a range of banks, businesses and individuals, including foreign nominees, that's whose benefit CP Group works for.

Sure but take a look at the shareholdings of this guy and his family, totally dwarfs the total shares held outside of the family.

 

Also don't forget the several times very senior folks from this company have been caught by the Thai SEC Securities and Exchange Commission for insider trading and other very unethical dealings. And when they were caught the above guy was asked for a comment, his response, not important, and the executives were not fired or punished internally.

 

 

 

 

[30la]

3 hours ago, webfact said:

“CP Group considers it our duty to assist our Thai brothers and sisters by producing these free masks. As we have investments in numerous countries, we have the potential to procure raw materials that may be difficult to source locally .

How much <deleted> comes out of your mouth, everything you do, you do it for the money.

[ChrisY1]

2 hours ago, smutcakes said:

CP works to the benefit of one (or two) families. Working for the benefit of the people. What vomit inducing garbage.

 

Edit to add: great if they build it but 100 m THB is a drop in their ocean and they are doing it purely for the PR in a time when the big 5 families are starting to get some heat. 

Agree...the 100m thb figure is just birthday money....petty cash to these people.

[saengd]

35 minutes ago, scorecard said:

Sure but take a look at the shareholdings of this guy and his family, totally dwarfs the total shares held outside of the family.

 

Also don't forget the several times very senior folks from this company have been caught by the Thai SEC Securities and Exchange Commission for insider trading and other very unethical dealings. And when they were caught the above guy was asked for a comment, his response, not important, and the executives were not fired or punished internally.

 

 

 

 

Although I don't know for certain I'm certain the shareholding is beneficial to the family and that some people have been involved in insider trading etc. BUT, the fact remains there are still lots of shares in circulation, in the hands of financial institutions and investment houses and individuals, without that shareholding CP Group has a problem hence CP Group works for the benefit of shareholders. And CP Group doesn't have the inside the monopoly on insider trading, other countries excel at it, even Western ones!

[mickey rat]

1 hour ago, smutcakes said:

Government would not make any policies likely to negatively impact them. Eg. banning and enforcing slasing and burning crops, proper truck bans etc

Seems like a good investment as after the virus scare has passed they can sell and promote them as protection against the toxic environment and unhealthy 2.5 PM levels they produce with their crop burning agro businesses. Pollution masks are the future. It's a win win. ????

[mickey rat]

3 minutes ago, saengd said:

Boycott one of the countries largest businesses and jeopardize the job security of one of its largest employers for what reason, tell me again?

300 baht a day is what you call job security? ???? ????

[saengd]

7 minutes ago, mickey rat said:

300 baht a day is what you call job security? ????????

The alternatives for many being what? I'm sure that CP Group recruits its fair share of minimum wage workers, I'm also certain it employees junior, middle and senior management who are paid much more than 300 baht per day,

 

Just so folks understand who and what CP Group is, this is a list of their businesses, in Thailand only:

 

• 2.1Charoen Pokphand Foods
• 2.2CP ALL
• 2.37-Eleven
• 2.4True Corporation
• 2.5Ascend Group
• 2.6True Growth Infrastructure Fund
• 2.7Lotus Supercenter
• 2.8C.P. Pokphand Co. Ltd
• 2.9C.P. Fresh Mart
• 2.10Dayang Motors
• 2.11Honda and Heineken
• 2.12Solvay
• 2.13Wal-Mart
• 2.14Siam Makro
• 2.15C.P. Land
• 2.16C.P Beverages & Food

https://en.wikipedia.org/wiki/Charoen_Pokphand

[scorecard]

23 minutes ago, saengd said:

Although I don't know for certain I'm certain the shareholding is beneficial to the family and that some people have been involved in insider trading etc. BUT, the fact remains there are still lots of shares in circulation, in the hands of financial institutions and investment houses and individuals, without that shareholding CP GroROI up has a problem hence CP Group works for the benefit of shareholders. And CP Group doesn't have the inside the monopoly on insider trading, other countries excel at it, even Western ones!

I can only suggest you check all of that a bit further.

 

Yes ROI on shares held in CP is quite nice, but I've noted before from SET and other company handouts etc., (a couple of times I've had my MBA students build details of how a potential investor can get deep and valuable information about companies listed on the SET) that all decisions are made by the family and they are good business decisions, because the family is well focused on growing it's wealth, and other (non family) shareholders are never consulted on any business decisions.

[scorecard]

32 minutes ago, rkidlad said:

Rick? Who's Rick?

 

Are people forced by law to buy CP products? Do we not have a free market here in Thailand? Can we stop strawmanning with comparisons to the West. 

 

Again, if people don't like how you conduct your business, they're free not to patronise it. People are not obliged to hand over their hard-earned money to you just because you have a high number of employees. It's clear as day that CP have a huge monopoly here in Thailand and they interfere way too much in the political structure. People are beginning to realise this and they don't like it. 

 

People can spend their money however they see fit. They are not obliged to buy anything from anyone. But as a business, if you want to make a profit, you are obliged to adapt and change if that's what the customer wants. Don't like that idea - don't run a business, then. Up to you. 

 

 

Good points however here's also the point that in some countries (read LOS) there are several very large monopolies and that reduces buyer options, but your point is still of course valid, folks who realize the negative impact of monopolies do have choices.

 

On the other hand, how many grass roots Thai folks (actually folks from any country) are aware of 'monopolies' and how monopolies reduce / massively reduce competition and therefore keep prices high and ultimately contribute to the enormous gap in incomes?  

 

The answer is almost none.

[saengd]

2 minutes ago, scorecard said:

I can only suggest you check all of that a bit further.

 

Yes ROI on shares held in CP is quite nice, but I've noted before from SET and other company handouts etc., (a couple of times I've had my MBA students build details of how a potential investor can get deep and valuable information about companies listed on the SET) that all decisions are made by the family and they are good business decisions, because the family is well focused on growing it's wealth, and other (non family) shareholders are never consulted on any business decisions.

I'm sure. But ask yourself, if you were CP Group would you not want to control a majority of your shares also? And investors know that what is good for the family is likely to be good for them also, it's a shirt tails thing. Personally, I've held CP group shares via an LTF for some years and I've never been disappointed.

[saengd]

2 minutes ago, scorecard said:

Good points however here's also the point that in some countries (read LOS) there are several very large monopolies and that reduces buyer options, but your point is still of course valid, folks who realize the negative impact of monopolies do have choices.

 

On the other hand, how many grass roots Thai folks (actually folks from any country) are aware of 'monopolies' and how monopolies reduce / massively reduce competition and therefore keep prices high and ultimately contribute to the enormous gap in incomes?  

Exactly, monopsony is the key issue.

[rkidlad]

2 minutes ago, scorecard said:

Good points however here's also the point that in some countries (read LOS) there are several very large monopolies and that reduces buyer options, but your point is still of course valid, folks who realize the negative impact of monopolies do have choices.

 

On the other hand, how many grass roots Thai folks (actually folks from any country) are aware of 'monopolies' and how monopolies reduce / massively reduce competition and therefore keep prices high and ultimately contribute to the enormous gap in incomes?  

Oh, there are very few options when wanting to avoid businesses run by the big 5 families. As for trying to avoid them, going to Seven or going to a mom & pop shop is like night and day. Seven is very well run and stocked. 

 

 

[scorecard]

15 minutes ago, saengd said:

I'm sure. But ask yourself, if you were CP Group would you not want to control a majority of your shares also? And investors know that what is good for the family is likely to be good for them also, it's a shirt tails thing. Personally, I've held CP group shares via an LTF for some years and I've never been disappointed.

Sure, but I think your missing my point.