Thaksin and family up to 19th on 'Thailand Rich List'

Forbes attributed the 53-per-cent increase in the Shinawatras' fortune to US$600 million (about Bt18 billion) to a stock split and a doubling of the share price of his family's real-estate development firm, SC Asset.

 Notably, Thaksin, who advised his younger sister Yingluck, now prime minister, on her election campaign, netted $2 billion following the family's 2006 sale of Shin Corp, the telecom group he founded.

 The net worth of Thailand's 40 richest tycoons rose 25 per cent to $45 billion as relative calm returned to the country's political scene and economy, and share prices rebounded. Pheu Thai's victory in July's general election helped the main Stock Exchange of Thailand index reach levels not seen in 15 years, up 21.7 per cent so far this year. In the same period, the baht rose 6.1 per cent against the US dollar.

 This year, a minimum of $195 million was needed to qualify for the rich list, up from $140 million last year. The billionaires' fortunes are based on share prices and exchange rates as of August 9.

 The wealth of three-quarters of those on the 2011 list increased. The top two gainers are Prasert Prasarttong-Osoth (17th) at $620 million, and Pongsak Viddayakorn (28th) with a net worth of $310 million. The two co-founders of hospital group Bangkok Dusit Medical Service saw their net worth skyrocket 138 per cent and 121 per cent respectively, as shares in their company reached a five-year high.

 There are two newcomers to this year's list: Prachai Leophairatana,, in 29th place with $300 million, whose shares in his cement-maker, TPI Polene, hit a three-year high last month; and Pete Bodharanik in 34th place with $245 million, whose telecoms stock Jasmine International quintupled in the 15 months since the company won an infrastructure bid for an Internet project and tied up with Advanced Info Service to launch a nationwide Wi-Fi service.

 On top of the list is Dhanin Chearavanont, 72, the head of agribusiness conglomerate Charoen Pokphand Group. He remains the wealthiest Thai with a net worth at $7.4 billion.

 As food demand rises across Asia, his group has seen double-digit growth in some of its business in the last 12 months.

 Dhanin in 2010 stole the first-place ranking from 79-year-old Chaleo Yoovidhya. Chlaeo, who co-founded the energy-drink giant Red Bull with an Austrian marketing whiz, remains in second place this year with a net worth of $5 billion - up from $4.2 billion last year.

 The third-richest man in Thailand, Charoen Sirivadhanabhakdi, 67, amassed a fortune worth $4.8 billion from selling beer and whisky and real-estate investments. Thai Beverage, the country's largest brewer and distiller, was listed in Singapore in 2006 and its stock has been flat over the past year.

 The top 10 also includes the Chirathivat family ($4.3 billion), Krit Ratanarak and family ($2.5 billion), Aloke Lohia ($2.1 billion), Chamnong Bhirombhakdi ($2 billion), Vichai Maleenont ($1.5 billion), Isara Vongkusolkit and family ($1.4 billion) and Praneetsilpa Vacharaphol and family ($1.05 billion).

 Forbes yesterday also unveiled its "2011 Best under a Billion in Asia-Pacific" list of 200, selected from more than 15,000 companies with annual revenue of between $5 million and $1 billion.

 Five listed Thai companies appear on the list: Advanced Information Technology, which designs and installs IT systems; Brooker Group, engaged in business, investment and real-estate consultancy services; Bualuang Securities, which operates investment and securities businesses; Polyplex, which exports biaxially-oriented polyester film; and Robinson Department Store.

 They are listed on the merits of growth in sales and earnings growth, as well as return on equity in the past 12 months and over three years.

 Of the 200 companies on the list, 65 are from China and Hong Kong.