Thai businessman of the year

[webfact]

Businessman of the year
BUSINESS DESK
THE NATION



BANGKOK: -- NOBODY QUESTIONS Prasert Prasarttong-Osoth's business brains. Bangkok Airways and Bangkok Hospital Group have survived storms to become the country's largest private airline company in terms of revenue and asset and one of the largest private healthcare groups in the region.

Despite political instability at home and competition on the global front, both businesses founded decades ago are prospering. Last but not least, Prasert is aiming high for his newest venture - a digital TV channel.

This year, several corporate chieftains achieved impressive records.

Dhanin Chearavanont, chairman and chief executive officer of Charoen Pokphand Group, made another surprise move with the launch of Icon Siam to solidify Thailand's position as a shopping mecca.

Kan Trakulhoon, president of Siam Cement Group, has pressed ahead with his sustainable development approach despite the high cost.

Kriangkrai Kanjanapokin, co-chief operating officer of Index Creative Village, should also be praised for taking Thai media expertise overseas.

However, Prasert's endurance cultivated through his adaptability to different business climates and openness to innovative ideas earns him The Nation's "Businessman of the Year" title this year.

Under Prasert, Bangkok Airways w listedThaias listed in the Stock Exchange of Thailand (SET) in September for raising Bt11.9-14.0 billion for fleet and facilities expansion at airports in Bangkok and Koh Samui.

Bangkok Airways began operating in 1968 and has grown into the largest private airline and airport developer in the country. It operates out of its own flight facilities in Koh Samui, Trat and Sukhothai.

Major capital expenditures for long-term growth have been set at Bt9 billion for fleet expansion from 25 aircraft this year to 43 by 2018, about Bt2.5 billion for aircraft maintenance centre at Suvarnabhumi Airport and spare parts and Bt1 billion for the expansion of Samui Airport.

About Bt3 billion will be used to pay off debt.

Once all projects are completed, the airline should spread its wings to many new destinations.

Last year, Bangkok Airways earned Bt990 million on revenue of more than Bt10 billion. However, during the first half of this year, although it performed as well as last year, profit shrank to Bt200 million due to higher operating and other expenses. The airline, however, hopes business will gain altitude as it increases frequencies on many routes this quarter to meet greater demand.

50 hospitals by 2015

Meanwhile, Bangkok Dusit Medical Services (BDMS) plans to increase its hospitals both locally and in Asean to 50 next year.

BDMS generates an expected Bt58 billion in revenue through 43 hospitals under various brands - Bangkok, Samitivej, BNH, Phayathai, Paolo Memorial, and two hospitals in Cambodia namely Royal Angkor International in Siem Reap and Royal Phnom Penh in Phnom Penh.

Prasert said he thinks the maximum number of 50 hospitals with 7,000 patient beds is enough for the group to manage and play a significant role in the Asean region.

Beyond physical expansion, BDMS will focus on developing its medical knowledge, capability and technology to attain world-class standards, similar to Europe and the US.

One of its major projects is expanding its flagship hospital on New Phetchaburi Road at a cost of Bt4 billion to cope with demand from overseas. It is expected to be completed in 2016.

Samitivej Hospital on Srinakarin Road will be turned into a paediatrics centre, focusing on children up to 12 years of age.

About a quarter of its 870,000 patients last year were foreigners. Their share is projected to increase to 30 per cent next year and 40 per cent in 2016 when new facilities in Bangkok are ready.

Last year, 2.3 million foreigners came to Thailand for medical treatment at 37 hospitals, which is higher than Singapore's 850,000, Malaysia's 700,000 and the Philippines' 81,000. The cost of treatment in Thailand was half of Singapore's, but higher than Malaysia, the Philippines and India.

Prasert also achieved global corporate deals as recently Bangkok Medical Centre joined with Siriraj Hospital at Mahidol University and Oregon Health and Science University to develop comprehensive education, research, resources and expertise for medical treatment in Thailand.

Prasert has jumped into the Bt70-billion TV broadcasting industry through his own company called Bangkok Media and Broadcasting (BMB).

Last year, BMB won a licence to operate a digital terrestrial TV channel in high definition by bidding Bt3.46 billion in an auction held by the National Broadcasting and Telecommunications Commission.

The firm operates PPTV HD on channel 36. It is believed that PPTV stands for "Prasert Prasarttong-Osoth TV". Besides aiming at the top five of terrestrial-based digital TV players in five years, PPTV will be an important piece of the jigsaw to complete Prasert's empire.

Not only does PPTV provide news and entertainment, some of its TV shows also support and promote tourism and healthcare industries. It is very important to create and engage with target audiences both for the channel and other businesses under Prasert's wing.

Before PPTV, Prasert had shown interest in media and broadcasting. In 2012, he launched the English-language, 24-hour IN Channel on TrueVisions, the country's leading pay-TV operator. The channel has been discontinued.

PPTV and IN Channel were ignited by Prasert's singular vision of promoting Thailand as a tourism and healthcare destination.

As of June, Prasert was ranked by Forbes as the eighth wealthiest person in the country with a net worth of US$2.3 billion or about Bt70 billion. Prasert has remained the wealthiest stock investor in 2014, with total value of listed securities worth Bt57.9 billion. According to a survey by Money Banking Magazine, his wealth rose by Bt21.3 billion from Bt37 billion last year when he first emerged as the country's wealthiest stock investor.

Source: http://www.nationmultimedia.com/business/Businessman-of-the-year-30250360.html


-- The Nation 2014-12-22

[englishoak]

Hmm so businessman of the year awards here seems to be all about size and wealth accumulation by those who already have massive wealth.

Sounds about right.

[jaidam]

Wasn't there some wind energy company CEO that was businessman of the year, not long ago.

That worked out well, didn't it.

Until there is a level playing field for foreign companies to compete here, the awards are just a big show. Rewarding nepotism and mediocre humdrum performances in the boardroom.

[Fiddlesticks]

WHAT? Yingluck did not win this year for her entrepreneurial foresight in overseeing the rice scheme! Where is the justice?

[ChrisY1]

Usually the same old faces in this award...where's all the young, up coming business man and women....still...the elite must prevail!

[yellowboat]

Yea! He has lots of money. Nothing really inspiring though. A few examples of his innovation would have been nice. The feeling you get is that Thai Companies are just too big to fail.

[KhunMoo]

Usually the same old faces in this award...where's all the young, up coming business man and women....still...the elite must prevail!

They are hiding in Cambodia/or Canada

Edited December 22, 2014 by KhunMoo

[jabis]

Shopping mecca - now that's definitely a new hub of something

[Bob12345]

Yea! He has lots of money. Nothing really inspiring though. A few examples of his innovation would have been nice. The feeling you get is that Thai Companies are just too big to fail.

Couldn't agree more.

The title should go to someone who did something inspiring, like turning around a bad company by implementing a new vision or developing something new that changes the corporate landscape for the year to come.

He is obviously successful in business, but it reads like he is just running his companies without any form of innovation (running hospitals and building more hospitals, running an airline company and extending the number of flights and destinations... wow, where does he find his inspiration?).

[canopus1969]

Should the title not read : Chinese Businessman of the Year ?

[Lupatria]

Why not have a "Proven Clean Business Person of the Year Award" instead of ranking the accumulated wealth?

[noitom]

He certainly looks like he is an impressive public force. Elect him PM - he appears dynamic and inspirational.

[gemini81]

Congratulations to our top Chinese 'swindler's list' winner.

[ChrisY1]

He certainly looks like he is an impressive public force. Elect him PM - he appears dynamic and inspirational.

Probably right for the candidacy.......but would he take the mandatory Thb ~2m pa. salary..........Naah......just can't see him taking that role........!!

Edited December 22, 2014 by ChrisY1

[smileydude]

Businessmen of the year should be awarded to whoever can make the majority of their employees lives better not just fattening the pockets of the top execs or shareholders. Lessen the income disparity by training the average employee so that their highly valued skills can make more for them as for the company. I see this in Germany's emphasis on vocational/technical education training and in Scandinavian countries where there are less billionaires per population then in Asia.

A company which makes a few people rich on the backs of others won't get my vote.

I think in Thailand SCG comes closest to this concept.

[CantSpell]

- Monopoly at Samui Airport (not far from Kho Tao) with the airline

- Hospitals double charging foreigners and insurances....

Must be Mr Clean

[Lupatria]

Thailand 2557 B.E.

No form of government and society offers a picture of uglier degeneration,

as if the wealthiest are regarded as the best.

(Cicero, 106 BC - 43 BC)

I guess people here just need a little more time to think about it...

[Anthony5]

Wonder how his debt to equity ratio stands, with such a spending spree.

At least I see one Bangkok clinic that opened earlier this year, but passing it daily, I still have to notice the first car on the parking lot that doesn't belong to the staff.

[Baerboxer]

Businessmen of the year should be awarded to whoever can make the majority of their employees lives better not just fattening the pockets of the top execs or shareholders. Lessen the income disparity by training the average employee so that their highly valued skills can make more for them as for the company. I see this in Germany's emphasis on vocational/technical education training and in Scandinavian countries where there are less billionaires per population then in Asia.

A company which makes a few people rich on the backs of others won't get my vote.

I think in Thailand SCG comes closest to this concept.

Don't disagree with you, in fact would support the indicators you suggest plus some others.

But look at the way "business" awards are made around the developed world. The distribution of wealth in most countries 1,2 and 3rd tier isn't exactly even.

The rich are getting richer, the poor get poorer and the middle class, for so long the lubrication between the two will go the same way as the white rhinos.

[Baerboxer]

- Monopoly at Samui Airport (not far from Kho Tao) with the airline

- Hospitals double charging foreigners and insurances....

Must be Mr Clean

All above board and seen as good business practice in Thailand.

Monopolies appear to be the norm for certain special families. Foreigners are here to be milked, just the proverbial cash cows.

[FangFerang]

Breaking news---Thai transliterations have shown an error in the headline. It should read "Thainese Pirate of the Year". Please note the correction, especially in areas where entire villages are denied citizenship despite a presence lasting centuries.

Next week's headline "All Thai-Chinese Nationals Granted Instant Citizenship as Soon As They Can Pay".

Edited December 22, 2014 by FangFerang

[gemini81]

Breaking news---Thai transliterations have shown an error in the headline. It should read "Thainese Pirate of the Year". Please note the correction, especially in areas where entire villages are denied citizenship despite a presence lasting centuries.

Next week's headline "All Thai-Chinese Nationals Granted Instant Citizenship as Soon As They Can Pay".

Or 'as soon as they can PREY' (on the locals). before clicking on the article, I predicted a long surname suggesting Chinese origin, a businessman born into a wealthy family. At least its predictable! How about articles on those from rags to riches, innovators, and guys like those who do organic farming, build next to no cost mud homes, and people like this...... but guess I'll dream on.

[Thai at Heart]

I am surprised they haven't got the current PM in the top 3.

I mean he took over a whole country and forced it into happiness and took umbrellas off the beach. What did these other idiots achieve.

[Thai at Heart]

Businessmen of the year should be awarded to whoever can make the majority of their employees lives better not just fattening the pockets of the top execs or shareholders. Lessen the income disparity by training the average employee so that their highly valued skills can make more for them as for the company. I see this in Germany's emphasis on vocational/technical education training and in Scandinavian countries where there are less billionaires per population then in Asia.

A company which makes a few people rich on the backs of others won't get my vote.

I think in Thailand SCG comes closest to this concept.

The irony of your statement about SCG is most apt.

[rickirs]

Private enterprise does better than government-owned enterprises. Thailand needs to shake off its fuedal business attitude and free the whole of its economy to an open and free environment of competition.

This article indirectly points to a missing factor in Thai-originated businesses - they haven't gone global but rather remained within the confines of the Thai market.

Where you see global conglomerates in other advanced countries engaged in multiple cross-border operations, you see Thai companies seemingly hesitant to expand outside of their Thai-based comfort zone. Albeit, the implimentation of the ASEAN Community in 2015 may provide an incentive for Thai companies to venture slightly beyond Thailand's borders. This self-imposed commercial isolation will eventually work against the Thai economic growth.

[smileydude]

Businessmen of the year should be awarded to whoever can make the majority of their employees lives better not just fattening the pockets of the top execs or shareholders. Lessen the income disparity by training the average employee so that their highly valued skills can make more for them as for the company. I see this in Germany's emphasis on vocational/technical education training and in Scandinavian countries where there are less billionaires per population then in Asia.

A company which makes a few people rich on the backs of others won't get my vote.

I think in Thailand SCG comes closest to this concept.

Don't disagree with you, in fact would support the indicators you suggest plus some others.

But look at the way "business" awards are made around the developed world. The distribution of wealth in most countries 1,2 and 3rd tier isn't exactly even.

The rich are getting richer, the poor get poorer and the middle class, for so long the lubrication between the two will go the same way as the white rhinos.

I agree, current "business awards" tend to value those who can squeeze the most profit for their shareholders. That's why it would be great to change what is valued by emphasizing that the new generation of businessmen not only need to develop profitable companies but also create ones with high degrees of social responsibility.

Growing income disparity does not bode well for social stability and sustainability in the long run.

[smileydude]

Businessmen of the year should be awarded to whoever can make the majority of their employees lives better not just fattening the pockets of the top execs or shareholders. Lessen the income disparity by training the average employee so that their highly valued skills can make more for them as for the company. I see this in Germany's emphasis on vocational/technical education training and in Scandinavian countries where there are less billionaires per population then in Asia.

A company which makes a few people rich on the backs of others won't get my vote.

I think in Thailand SCG comes closest to this concept.

The irony of your statement about SCG is most apt.

I refer to those on the list, not all companies in Thailand.

SCG is all about profit, yes, but they do seem to value human resources and its development a tad more then the others.

[Roota]

So what, almost 30 posts here and nobody actually seems to know or care who Khun Prasert is. Frankly I'm no huge user of either Bangkok Airways or Bangkok Hospitals -- I find I can get better value for money elsewhere -- but you'd be hard pressed to find two better managed companies in this country. What Bangkok Airways has done in Samui for example was absolutely visionary (again, not expressing my approval of the results, just appreciation for the business acumen involved). And the Bangkok Hospitals story if anything is even more impressive. If you want to criticise the guy, at least make the effort to learn a bit about him. You just might be impressed with what he's achieved.

[Thai at Heart]

Businessmen of the year should be awarded to whoever can make the majority of their employees lives better not just fattening the pockets of the top execs or shareholders. Lessen the income disparity by training the average employee so that their highly valued skills can make more for them as for the company. I see this in Germany's emphasis on vocational/technical education training and in Scandinavian countries where there are less billionaires per population then in Asia.

A company which makes a few people rich on the backs of others won't get my vote.

I think in Thailand SCG comes closest to this concept.

The irony of your statement about SCG is most apt.

I refer to those on the list, not all companies in Thailand.

SCG is all about profit, yes, but they do seem to value human resources and its development a tad more then the others.

You do realise who is one of, if not the largest single shareholder. So yes SCG does a great job of making its major hareholders quite well off.