Thai actress and model Nisachon Tuamsoongnuen poses with a Lamborghini in Bangkok. Photo: Instagram / Lamborghini Club Thailand

Agence France-Presse
10 Aug, 2020

One per cent of the population owns pretty much two-thirds of the country

As the coronavirus brought the global economy to its knees, Thai businessman Yod decided to buy himself an US$872,000 treat – a lime-green Lamborghini.

But in a split-screen economy, there are plenty with immunity to the economic scourge caused by Covid-19.Ferrari, Thailand is home to the ninth most billionaires anywhere, according to the China-based Hurun Report’s Global Rich List 2020.

Rolls-Royce and Lamborghini have all launched top-end models in Bangkok over the pandemic period, cars with price tags of between US$750,000 and US$1.2 million.

As a result, household debt is forecast to surge to 88-90 per cent of GDP by the end of this year, according to a Kasikornbank research note.
Government figures predict the pandemic could leave 8.4 million jobless, over a quarter of them employed in the cash-cow tourism sector.

A trawl through the Instagram accounts of Thailand’s ‘Hi-So’ (high society) set also reveals a glamour scene unruffled by the new normal – yoga sessions on pristine beaches, yacht parties and champagne receptions.

“They’ve got the money and they can spend it any time,” says Naphalai Areesorn, editor-in-chief of fashion and society magazine Tatler Thailand.

full.https://www.scmp.com/news/asia/southeas ... -pandemics

One per cent of the population owns pretty much two-thirds of the country is an understatement.

clutchcargo wrote: ↑Tue Aug 11, 2020 10:25 am If one per cent of the population owns pretty much two-thirds of the country, how much does No 1 individual have I wonder?

Leaving out royalty , Dhanin Chearvanont, chairman of Charoen Pokphand Group, with a net worth of US$14.3 billion tops the list of billionaires in Thailand. He is the 21st richest man in the world.


Charoen Pokphand Foods
Main article: Charoen Pokphand Foods
Known as Charoen Pokphand Foods Plc., (CPF). It was established in 1978 with operations in animal feed production, livestock breeding, further processing and trade. Currently, CPF invests overseas in nine countries, has subsidiaries in 17 countries [25] and exports to over 40 countries. Furthermore, CPF is today the leading producer of feed and one of the largest producers of poultry in the world. Charoen Pokphand Foods is listed in the Stock Exchange of Thailand under the code: CPF.

CP Foods has a revenue of approximately US$14 billion (2012), with a market capitalization of over US$8 billion (2012)

CP ALL
Main article: CP ALL
CP ALL Public Company Limited is the flagship company of the Charoen Pokphand Group's marketing and distribution business. It is the Thai licensee of 7-Eleven since 1989 and operates 12,000 convenience stores under that trademark in Thailand. This is the third largest number of stores after the United States and Japan

CP All completed FY 2016 with approximately US$15 billion in revenue, and currently has a market capitalization of over US$13 billion (2017).

7-Eleven
CP All Plc. is the sole operator of 7-Eleven convenience stores in Thailand. The CP Group acquired the rights to distribute the convenience store in 1987.[12] The first 7-Eleven outlet was opened in 1989 on Patpong Road in Bangkok. As of 2020, the company had a total of 11,700 stores nationwide employing 170,000 workers. Of the total, 4,245 stores are in Bangkok and vicinity (44 percent) and 5,297 stores are in provincial areas (56 percent). There are 4,205 corporate-owned stores (44 percent), 4,645 franchise stores (49 percent), and 692 sub-area license stores (seven percent). An average of 11.7 million customers visit 7-Eleven stores each day. In 2016, the company expanded another 710 new stores both as stand-alone stores and stores at PTT gas stations. At the end of 2014, the company had 8,210 stand-alone stores (86 percent) and 1,332 stores in PTT gas stations (14 percent). The company has plans to open approximately 700 new stores annually, with the goal of 10,000 stores in 2017.

True Corporation
Main article: True Corporation
The Telecommunications Business Group was established during the late 1980s. Known as True Corporation Plc, True offers a ‘convergence’ of voice, video and data services across its integrated communications platform. Based in Bangkok, True currently services more than 23 million subscribers to its various services, which includes Thailand's third-largest mobile operator (True Move), the country's largest broadband and dial-up internet provider, largest fixed-line phone operator in Bangkok Metropolitan Area, electronic cash and payment services, personal communication telephone, data services, VoIP services, online portals, online games and is the only nationwide cable-TV provider (True Visions). True Corporation is listed on the Stock Exchange of Thailand under the code: TRUE

True Corporation generated approximately US$3.1 billion in revenue in 2012, it has a market capitalization of about US$4.3 billion (2013). It is spinning off its infrastructure operations into a new telecommunications fund set to IPO at about US$1.8 billion, putting the group's total value at about US$5 billion.

Ascend Group
Main article: Ascend Group
Founded in 2014 as a spin-off of True Corporation, Ascend Group handles the e-commerce, online retail, logistics and fulfillment component of CP Group. It marked its $150-million expansion by launching their affiliates in the Philippines and Indonesia, Vietnam, and also hard to reach economies like Myanmar and Cambodia. Ventures are classified under major subsidiaries: Ascend Commerce, Ascend Money and Ascend Capital, along with smaller independent ventures like TrueIDC and Egg Digital.

True Growth Infrastructure Fund
True GIF is a US$2 billion fund set up to manage True's extensive telecommunication assets including Thailand's largest fibre optic network and largest 3G & 4G cell networks. It became Thailand's second largest IPO ever in late 2013. True Corp is True GIF's largest shareholder.

Lotus Supercenter
Main article: Lotus Supercenter
CP Pokphand Co. Ltd
Listed in Hong Kong, CPP is one of the world's largest producers of feed and one of China's leading agricultural companies with factories nationwide.

CP Fresh Mart
A Thai-based chain selling frozen foods and finished products, now with over 700 branches.

Dayang Motors
One of China's leading motorcycle producers Dayang Motors, recently signed a joint venture to begin production of cars in Thailand. Its motorcycles are exported to Southeast Asia, Europe, and Africa.

Honda and Heineken
CP moved into Shanghai, manufacturing motorcycles with a license from Japanese automaking giant Honda and brewing beer with a license from Dutch beer brewer, Heineken.

Solvay
In 1989, CP entered the petrochemical business through a join venture with Solvay, one of Belgium's largest chemical firms.

Wal-Mart
In 1994, CP signed a joint venture agreement with American retail giant, Wal-Mart to establish super-retail stores throughout Asia.

Siam Makro
Held through CP All, Siam Makro is Thailand's largest cash and carry store. CP All purchased Siam Makro for US$6.6 billion in 2013.

CP Land
CP Land manages several Bangkok properties including CP Tower 1 & 2. It is listed through CP Land Infrastructure Fund and has a market capitalization of over US$300 million.

CP Beverages & Food
CP B&F is the Beverages arm of CP and was established in 2016 in Bangkok, Thailand. It operates Cafes, QSR, Logistics Brands namely Arabitia Cafe, Jungle Cafe, Farmee, Daily Runner and also is into Export - Import Business. The company now operates in 5 countries - China, Thailand, India, Cambodia, Laos and Myanmar and has 5 subsidiaries - CP B&F India Pvt Ltd, CP B&F (Thailand) Co. Ltd, CP B&F (Cambodia) Co., Ltd.

source wikipedia