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Thailand takes three spots in Forbes’ richest as Red Bull joins the list

For the first time The Yoovidhya family, the maker and marketer of Krating Daeng and gold Red Bull energy drinks in Asia, has made the 2017 Forbes list of Asia’s richest families

Boris Sullivan

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Three Thai families – Chearavanont, Chirathivat and Yoovidhya – are now included in the Asia’s richest families of 2017 list published by Forbes magazine. 

Two of the richest Thai families are in the top ten of Forbes, claiming fourth and tenth spot.

For the first time The Yoovidhya family, the maker and marketer of Krating Daeng and gold Red Bull energy drinks in Asia, has made the 2017 Forbes list of Asia’s richest families, trailing two other notable Thai clans: the Chearavanonts and the Chirathivats.

The Chearavanont family, took the fourth spot on the list with a net worth of $36.6 billion.

The family behind Charoen Pokphand (CP) Group, one of the world’s largest purveyors of animal feed and livestock, got a nearly $9-billion boost to its wealth, partly due to a surge in the value of its holding in Chinese insurer Ping An.

Samsung’s Lee family lose No. 1 spot

No family highlights this surge better than the Ambanis of India, this year’s biggest gainer in dollar and percentage terms. Their net worth rose by $19 billion, to $44.8 billion, superseding the Lees of the Samsung empire to claim the No. 1 spot

FamilyNet Worth Country
1Ambani$44.8 billionIndia
2Lee (Byung-Chull)$40.8 billionSouth Korea
3Kwok$40.4 billionHong Kong
4Chearavanont$36.6 billionThailand
5Hartono$32 billionIndonesia
6Lee (Shau Kee)$29 billionHong Kong
7Kwek / Quek$23.3 billionMalaysia
8Cheng Family$22.5 billionHong Kong
9Sy$20.1 billionPhilippines
10Chirathivat family$19.3 billionThailand
11Premji$19.2 billionIndia
12Hinduja$18.8 billionIndia
13Tsai (Wan-Tsai & Wan-Lin)$17.7 billionTaiwan
14Mittal$17.2 billionIndia
15Kuok$16.6 billionSingapore
16Mistry$16.1 billionIndia
17Chung$14.8 billionSouth Korea
18Saji$14.2 billionJapan
19Birla$14.1 billionIndia
20Godrej$14 billionIndia
21Pao$13.4 billionHong Kong
22Yoovidhya family$13.1 billionThailand

 

The list of Asia’s 50 Richest Families is a snapshot of wealth using stock prices and currency exchange rates from the close of markets on November 3, 2017. Private companies were valued by using financial ratios and other comparisons with similar publicly traded companies. To qualify, a family’s wealth must be rooted in Asia and participation in building that fortune has to extend at least three generations.

Nearly half of the richest families in Asia are in China, yet none of 50 we ranked this year are based in the mainland, where conglomerates are young, run by first and second generations who were able to muster billions of dollars in wealth in an open economy.

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China

GM sells Thai factory to Chinese automaker GWM

After 20 years of operation in Thailand, General Motors will cease its activities, and resell its factory to the Chinese manufacturer Great Wall Motors

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General Motors (GM) announced it will stop selling Chevrolet vehicles in Thailand and sell its Rayong plant to Great Wall Motors (GWM) by the end of this year.

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Companies

Cyber incidents top most important business risks for Asia-Pacific companies

For the first time ever, Cyber incidents (35% of responses) rank as the most important business risk in Asia-Pacific in the ninth Allianz Risk Barometer 2020

Boris Sullivan

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Flexible working and cybersecurity

For the first time ever, Cyber incidents (35% of responses) rank as the most important business risk in Asia-Pacific in the ninth Allianz Risk Barometer 2020, relegating perennial top peril Business interruption (BI) (34% of responses) to second place.

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Banking

Corporate debt market in Thailand well positioned for further growth

Brazil, China, South Africa and Thailand are best-placed for corporate debt market growth says Moody’s Investors Service in a report that analyzed trends in 35 emerging markets.

Olivier Languepin

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Corporate debt markets in Brazil (Ba2 stable), China (A1 stable), South Africa (Baa3 negative) and Thailand (Baa1 positive) are best-placed to achieve further growth in the coming years, Moody’s Investors Service said today in a report that analyzed trends in 35 emerging markets.

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