Businessman of the year
NOBODY QUESTIONS Prasert Prasarttong-Osoth's business brains. Bangkok Airways and Bangkok Hospital Group have survived storms to become the country's largest private airline company in terms of revenue and asset and one of the largest private healthca
Despite political instability at home and competition on the global front, both businesses founded decades ago are prospering. Last but not least, Prasert is aiming high for his newest venture – a digital TV channel.
This year, several corporate chieftains achieved impressive records.
Dhanin Chearavanont, chairman and chief executive officer of Charoen Pokphand Group, made another surprise move with the launch of Icon Siam to solidify Thailand’s position as a shopping mecca.
Kan Trakulhoon, president of Siam Cement Group, has pressed ahead with his sustainable development approach despite the high cost.
Kriangkrai Kanjanapokin, co-chief operating officer of Index Creative Village, should also be praised for taking Thai media expertise overseas.
However, Prasert’s endurance cultivated through his adaptability to different business climates and openness to innovative ideas earns him The Nation’s “Businessman of the Year” title this year.
Under Prasert, Bangkok Airways w listedThaias listed in the Stock Exchange of Thailand (SET) in September for raising Bt11.9-14.0 billion for fleet and facilities expansion at airports in Bangkok and Koh Samui.
Bangkok Airways began operating in 1968 and has grown into the largest private airline and airport developer in the country. It operates out of its own flight facilities in Koh Samui, Trat and Sukhothai.
Major capital expenditures for long-term growth have been set at Bt9 billion for fleet expansion from 25 aircraft this year to 43 by 2018, about Bt2.5 billion for aircraft maintenance centre at Suvarnabhumi Airport and spare parts and Bt1 billion for the expansion of Samui Airport.
About Bt3 billion will be used to pay off debt.
Once all projects are completed, the airline should spread its wings to many new destinations.
Last year, Bangkok Airways earned Bt990 million on revenue of more than Bt10 billion. However, during the first half of this year, although it performed as well as last year, profit shrank to Bt200 million due to higher operating and other expenses. The airline, however, hopes business will gain altitude as it increases frequencies on many routes this quarter to meet greater demand.
50 hospitals by 2015
Meanwhile, Bangkok Dusit Medical Services (BDMS) plans to increase its hospitals both locally and in Asean to 50 next year.
BDMS generates an expected Bt58 billion in revenue through 43 hospitals under various brands – Bangkok, Samitivej, BNH, Phayathai, Paolo Memorial, and two hospitals in Cambodia namely Royal Angkor International in Siem Reap and Royal Phnom Penh in Phnom Penh.
Prasert said he thinks the maximum number of 50 hospitals with 7,000 patient beds is enough for the group to manage and play a significant role in the Asean region.
Beyond physical expansion, BDMS will focus on developing its medical knowledge, capability and technology to attain world-class standards, similar to Europe and the US.
One of its major projects is expanding its flagship hospital on New Phetchaburi Road at a cost of Bt4 billion to cope with demand from overseas. It is expected to be completed in 2016.
Samitivej Hospital on Srinakarin Road will be turned into a paediatrics centre, focusing on children up to 12 years of age.
About a quarter of its 870,000 patients last year were foreigners. Their share is projected to increase to 30 per cent next year and 40 per cent in 2016 when new facilities in Bangkok are ready.
Last year, 2.3 million foreigners came to Thailand for medical treatment at 37 hospitals, which is higher than Singapore’s 850,000, Malaysia’s 700,000 and the Philippines’ 81,000. The cost of treatment in Thailand was half of Singapore’s, but higher than Malaysia, the Philippines and India.
Prasert also achieved global corporate deals as recently Bangkok Medical Centre joined with Siriraj Hospital at Mahidol University and Oregon Health and Science University to develop comprehensive education, research, resources and expertise for medical treatment in Thailand.
Prasert has jumped into the Bt70-billion TV broadcasting industry through his own company called Bangkok Media and Broadcasting (BMB).
Last year, BMB won a licence to operate a digital terrestrial TV channel in high definition by bidding Bt3.46 billion in an auction held by the National Broadcasting and Telecommunications Commission.
The firm operates PPTV HD on channel 36. It is believed that PPTV stands for “Prasert Prasarttong-Osoth TV”. Besides aiming at the top five of terrestrial-based digital TV players in five years, PPTV will be an important piece of the jigsaw to complete Prasert’s empire.
Not only does PPTV provide news and entertainment, some of its TV shows also support and promote tourism and healthcare industries. It is very important to create and engage with target audiences both for the channel and other businesses under Prasert’s wing.
Before PPTV, Prasert had shown interest in media and broadcasting. In 2012, he launched the English-language, 24-hour IN Channel on TrueVisions, the country’s leading pay-TV operator. The channel has been discontinued.
PPTV and IN Channel were ignited by Prasert’s singular vision of promoting Thailand as a tourism and healthcare destination.
As of June, Prasert was ranked by Forbes as the eighth wealthiest person in the country with a net worth of US$2.3 billion or about Bt70 billion. Prasert has remained the wealthiest stock investor in 2014, with total value of listed securities worth Bt57.9 billion. According to a survey by Money Banking Magazine, his wealth rose by Bt21.3 billion from Bt37 billion last year when he first emerged as the country’s wealthiest stock investor.
