BATTLE OF THE BILLIONAIRES

A lot is at stake now, as his company, Bangkok Broadcasting & TV (BBTV), has not yet reached a compromise with Chan 25, a newly established company owned by Surang Prempree. Both plan to submit bids, but both could be disqualified, as a rule bars two companies that are more than 10 per cent owned by the same shareholder from joining the auction. 

Surang no longer holds a position in BBTV, which was founded in 1967 by her late mother along with Krit’s late father Chuan. But Surang, who was chief of BBTV for nearly 30 years, still holds a 20-per-cent stake in it.

There is a lot of speculation about what Surang wants to gain here. Well, this is definitely not about money. If that were the case, it would be easy for Krit. With estimated net worth of US$3.9 billion (Bt122 billion) in July, according to Forbes, he has plenty of resources to buy a way out of the problem.

However, Surang’s net worth has also risen quickly, from $930 million in July to more than $1 billion this month, making her Thailand’s 11th billionaire, among more than 700 across the globe. Ironically, that is partly due to the strong performance of businesses co-owned by Surang but supervised by Krit.

Chan 25 has been performing well as a producer of TV programmes for other channels. As a trusted partner of the Miss Universe Organisation, she now offers the right to host Miss Universe Thailand to Channel 5. It was through her efforts that the pageant was brought to Myanmar. That tells a lot about why she posed for a photo with Miss Universe Myanmar, Moe Set Wine, and gleefully shared it on Instagram.

It’s definitely not about money, Khun Krit. 

 

PTT BRAND IS STILL WORKING, TEVIN 

The oil spill in the Gulf of Thailand hit PTT Global Chemical (PTTGC) hard. Worse, there were strong spill-over effects to the entire PTT Group of Companies, because of the group’s branding policy.

In an interview with The Nation, Tevin Vongvanich, president of PTT Exploration and Production – another unit of PTT Group – admitted that PTTEP had also felt the pinch from the unfortunate incident. 

Still, he said it was better for PTT to maintain the brand policy – one brand for the entire group. It is a must that all units in the group honour the same operating standards. 

And that makes sense. It is better for PTTEP to venture overseas under the parent company’s name. Financially and non-financially, PTT carries a lot of weight. It is 51 per cent owned by the Thai government. PTTEP is owned about 33 per cent by the Thai government, through PTT’s 65-per-cent stake in the company. Financially, PTT’s assets at Bt1.65 trillion as of June are nearly three times PTTEP’s Bt617 billion. 

Last but not least, PTTEP itself also caused bad news for the group, after the fire and a huge spill at its Montara oil rig in the Timor Sea off Australia. 

Now, the group’s image could also be brightened, as PTTGC and Thai Oil, yet another business unit of PTT, have been included in the Dow Jones Sustainability Indices (DJSI). 

If all these companies are operating with same standards, a positive sentiment could spread to PTTEP and other units in the group. 

 

 

WORLD BANK AND SOCIAL MEDIA 

Waves of change in Thailand usually fly from the West. Or so we hope. 

Last week, The Nation received an e-mail from the World Bank, inviting us to like and follow the posts on its Facebook page for Thailand (https://www.face?book.com/WorldBankThailand). Will it be dull, with academic reports and few updates? The World Bank promises to update the page on a regular basis. 

This is on top of @worldbankasia, which regularly feeds activities to followers. 

In time, key Thai agencies like the National Economic and Social Development Board or the Bank of Thailand may embark on their own social-media missions. 

[email protected]