By Netiwit Chotiphatphaisal

 

Two days ago there was big news that caused quite a stir. Due to the downturn from the impact of Covid-19, Chulalongkorn University granted a concession to Central Group (CPN) to be the manager of Siam Block A which includes the historic Scala Theater.

 

CPN said that they would do their utmost to protect the theater while redeveloping the area around it into another shopping mall. The business community questioned CPN’s move to redevelop such a small piece of land.

 

But what has gone unreported is the current tenants who have developed businesses and staked their livelihoods to buildings around Scala who are not being forced out or not having their leases renewed. Those who are choosing to stay have been met with high rent costs.

 

Full story: https://www.thaienquirer.com/32443/opinion-chulalongkorn-acting-less-like-institute-of-higher-learning-and-more-like-a-big-business/

 

-- © Copyright Thai Enquirer 2021-09-09

 

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No surprise as they have been also turned into a "consultant company" with their faculty. There are even consultancy office on the campus which are part of the university, my eldest worked for their civil construction consultancy for a while before heading overseas.

Lol. Which university is not trying to maximize revenue these days? Schools in North America have been doing it for years.

to me, i think it’s true AND correct. Their PMCU arm (Property Management Chulalongkorn University) really does have an obligation to achieve the highest returns for the larger university and be good stewards of the property owned by CU.

 

Does Chula act like a business?  I’m sure it does in some aspects… and unless a university is solely a state funded institution - meaning all of its operating expenses are state-funded, then i would expect a university operate in a fiscally prudent manner, to include how their manage their non-core real estate assets — CONSISTENT with its larger mission - to educate..  IMHO, to educate and to also operate in a fiscally prudent manner are not mutually exclusive goals, but if done right, can be complementary to each other.

Most universities are big businesses, no surprises there.

6 hours ago, The Cipher said:

Lol. Which university is not trying to maximize revenue these days? Schools in North America have been doing it for years.

This article seems to be about Thailand.

Quote

This article seems to be about Thailand.

Sure. But its helpful to place the actions of this institution in the context of broader global trends. The article is about a university beginning to act more like a business than an institution concerned primarily with education.

 

But Chula isn't pioneering any new ground here, they're just floating in the direction the winds have been blowing for years now.

7 hours ago, Benmart said:

This article seems to be about Thailand.

In general.

 

Universities everywhere need to maximize profits including Thailand.

 

 

remind me...  who is the major shareholder in Chula?

On 9/8/2021 at 8:27 PM, The Cipher said:

Lol. Which university is not trying to maximize revenue these days? Schools in North America have been doing it for years.

And in the process, completely miss the picture of what a university exist for.