Gulf Energy’s Sarath leads Thailand’s richest stockholders list for 5th year

The Money & Banking Journal’s December edition reported that Sarath’s shares were valued at 190.83 billion baht as of September 30, marking a 12.86% decline from 218.98 billion baht last year.

Sarath, also a director and vice chairman of Gulf’s board, holds a 35.67% stake in the company, which was valued at 190.42 billion baht as of September 30.

The journal collaborated with lecturers from Chulalongkorn University’s Faculty of Commerce and Accountancy to rank Thailand’s 10 richest stockholders based on the value of their shares in companies listed on the Stock Exchange of Thailand and Market for Alternative Investment (mai).

In addition to his majority stake in the Gulf, Sarath also holds a 0.67% stake in the i-Tail Corporation (ITC) Plc under the Thai Union Group. The ITC stake is worth 406.55 million baht.

The journal began ranking Thailand’s richest stockholders from 1994, and it has consistently placed Sarath as the wealthiest stockholder in the country for five consecutive years, with shareholding valued at more than 100 billion baht.

He emerged as the richest stockholder in 2019 with holdings worth 120.96 billion baht and retained the title in 2020, 2021 and 2022 with shares worth

115.29 billion baht, 173.19 billion baht and 218.98 billion baht, respectively.

Niti Osathanugrah, an heir of the Osotspa clan, secured the second position with shares valued at 61.79 billion baht, reflecting a 3.66 billion baht or 6.31% increase. He holds a stake in eight major listed companies.

Prasert Prasarttong-Osoth, co-founder and owner of Bangkok Dusit Medical Services (BDMS) and Bangkok Airways, took the third position, with shares in Bangkok Airways and BDMS valued at 57 billion baht, down by 5.73 billion baht or 9.14% from last year.

Meanwhile, the fourth to 10th richest stockholders in Thailand for 2023 are:

• 4th wealthiest: Panicha Dao

Panicha holds 80% of the stock in PSG Corporation worth 41.595 billion baht. The value of her shares dropped by 40 billion or 49.04%.

The rest of the stake in PSG Corp is held by PTS Co Ltd, which owns a hydropower plant in Luang Prabang. PTS is owned by Panicha’s Laotian husband, David Wan Dao.

• 5th wealthiest: Poramaporn Prasarttong-Osoth

Poramaporn, CEO and president of BDMS and heir to Prasarttong-Osoth, holds a 5.18% stake in BDMS and a 6.49% stake in Bangkok Airways.

She also holds 25.05% of The One Enterprise. Her overall share value is 26.634 billion baht, down by 8.367 billion baht or 23.91%.

• 6th wealthiest: Chuchart Phetamphai

Chuchart, co-owner of Muangthai Capital Plc (MTC), has shares valued at 25.93 billion baht, down by 584 million baht or 2.2%. Chuchart holds 33.49% in MTC and 3.12% in Xspring Capital Plc.

• 7th wealthiest: Daonapa Phetamphai

Daonapa, the other co-owner of MTC, holds a 33.96% stake in the company worth 25.92 billion baht. The value of her shares dropped by 180 million baht or 0.69%.

• 8th wealthiest: Pongsak Thammathataree

Pongsak, a major stock investor, holds shares worth 22.46 billion baht in 14 listed companies. The value of his shares rose by 11.181 billion baht or 99.12%.

• 9th wealthiest: Anant Asavabhokhin

Anant, a property tycoon, owns 23.93% of shares in Land and House. His LH shares are valued at 22.3 billion baht, drown by 3.145 billion baht or 12.36%.

• 10th wealthiest: Sura Khanittaweekul,

Sura, CEO and co-founder of Com7 holds shares worth 21.39 billion baht in 17 listed companies. The value of his shares rose by 10.38 billion baht or 94.33%.

Sura is the majority shareholder of IT product retailer Com7, holding 25.05% of the shares.

The Money & Banking Journal also listed the top five richest families based on the value of shares they hold:

1. Ratanavadi

The Ratanavadi clan has been ranked the richest for five consecutive years. It holds shares worth 190.828 billion baht, down by 28.153 billion baht or 12.86% this year.

2. Prasarttong-Osoth

Six members of the Prasarttong-Osoth family have shares with a combined value of 96.82 billion baht, down by 11.16 billion baht or 10.34%.

3. Osathanugrah

Six members of the Osathanugrah family hold shares with a combined value of 72.72 billion baht, up by 650 million baht or 0.9%.

4. Phetamphai

The Phetamphai family holds shares worth 51.85 billion baht, down by 764.17 million baht or 1.45%.

5. Dao

The Dao family led by Panicha Dao, a major shareholder of PSG Corporation, holds shares worth 41.60 billion, though the value dropped by 49.04%.