Top tier of Ch Karnchang undergoes succession
CH KARNCHANG, a major |construction company, is bringing in the young generation, including Supamas Trivisvavet as the new CEO, to spearhead expansion in domestic and overseas markets.
It also promoted Thanawat Trivisvavet, deputy managing director of CK Power, to managing director, replacing Supamas.
The two appointments will go into effect on July 1.
Supamas takes over as chief executive officer from Plew Trivisvavet, the father of both Supamas and Thanawat. Plew will remain as executive chairman and will work full-time overseeing and formulating policy for the company.
Plew already had this succession plan in mind 10 years ago.
"We welcome the new executives, who are young professionals and have good experience in this business, to join our team. We believe they will bring a modern management style and new perspective to support the company’s future," Plew said.
"This will equip the company with greater capability to grow with greater stability and flexibility to take on new challenges presented by the rapidly changing global market environment."
Supamas said she was learning about the company’s projects from senior management and would later brainstorm with them on the direction of the company.
She joined the family firm in 2006 as deputy manager of the president’s office and was in 2009 promoted to executive vice president of the office.
Ch Karnchang is setting |up a company, expected to be named Bangkok Expressway and Metro (BEM), as part of the merger of its two subsidiaries Bangkok Metro and Bangkok Expressway.
Plew said Ch Karnchang would hold 30 per cent of BEM, which is expected to be listed on the Stock Exchange of Thailand by August. BEM is expected to trade at Bt4.50 per share.
Ch Karnchang group has a backlog of Bt87 billion. It targets revenue of at least Bt35 billion this year.
It plans to bid on state projects worth about Bt100 billion in the second half of this year out of total projects worth an expected Bt400 billion to be launched by the state agencies in the rest of this year. The company is confident of winning 20-25 per cent of the targeted projects.
The interesting projects are the mass-transit Orange Line, the Chira-Khon Kaen dual-track railway, the Pattaya-Map Ta Phut Motorway and Nong Bon Drainage Tunnel.
Ch Karnchang’s projects have progressed well. The extension of the Blue Line from Sanam Chai to Tha Phra is 70 per cent complete. The company is now building the second tunnel under the Chao Phraya River, which will be completed by year-end.
