Wednesday, November 25, 2020

Thai tycoons loosen purse strings to help mitigate impact of Covid-19

May 03. 2020
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By The Nation

Nine of the country's richest business magnates have pledged projects worth billions of baht in response to Prime Minister Prayut Chan-o-cha's plea to them for contributions to rebuild the economy following the Covid-19 crisis.

Dhanin Chearavanont, founder of CP Group, has donated Bt700 million to the government while Chalerm Yoovidhya of Red Bull has donated Bt300 million to the organisation established to help the public.

Prasert Prasarttong-Osoth, the CEO of Bangkok Airways, has offered Bt100 million to the Public Health Ministry.

Others have chosen different approaches to help the government. For example, Prayudh Mahagitsiri chairman of the PM Group, will purchase agricultural products from Lamphun province for six months, and Petch Osathanugrah, the CEO of Osotspa, will provide Bt100 million to launch a project helping people affected by Covid-19.

Chuchat Petaumpai, the chairman of Muangthai Capital Pcl, is in discussions on providing assistance, Keeree Kanjanapas, the chairman of BTS Group Holdings Pcl, is preparing an aid project, and Chatchai Kaewbootta, CEO at Srisawad Corp Pcl, will help solve loan shark problems.

Aiyawatt Srivaddhanaprabha, the CEO and chairman of King Power, is planning to launch a project with a budget of Bt1.5 billion to support medical, social, juvenile and tourism areas.

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