Editor, Writer, Researcher
Sappe already exports to almost 100 countries: in Asia, Europe, the Americas and the Middle East. Its net profit climbed 59% to 653 million baht in 2022. More than three-quarters of revenue came from overseas.
At a time when European banks would only loan to non-whites on crippling terms—if at all—Chin Sophonpanich was renowned for placing his trust in promising Chinese entrepreneurs throughout Southeast Asia. Among his protegés who rose to become dollar multi-millionaire and billionaire tycoons were Malaysia’s Robert Kuok and Indonesia’s Liem Sioe Liong.
The bureau's other assets are easier to value. Its 30% share in the Siam Cement Group, the country's second-largest company, is worth $1.9 billion and its 25% share in Siam Commercial Bank is worth $1.1 billion. As of July it also owns virtually all of Deves Insurance, worth $65 million, and stakes in various other public and private companies that Aviruth says are worth $600 million.
A mother and daughter are planning a multi-million dollar upgrade of Bangkok's passenger riverboats, while adding hospitality and real estate ventures to their 100-year-old company.
The boys stay in a family-owned building directly across the street from the Menam Riverside Hotel and take meals in a hotel staff canteen. Malee's seven children help out with supervision and field trips.
Susan J Cunningham 