ID :
12178
Fri, 07/11/2008 - 12:06
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Shortlink :
https://oananews.org//node/12178
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India-origin millionaire among Thailand's richest people
New York, Jul 11 (PTI) India-origin Nishita Shah, the Managing Director of diversified G.P. Group, has been named inthe list of 40 richest people in Thailand, compiled by U.S.
business magazine Forbes.
The "Thailand's 40 Richest" rankings to be published in the latest issue of Forbes Asia, has placed Nishita Shah andfamily at the 19th spot with a net worth of USD 375 million.
Twenty eight-year-old Nishita is also the youngest in theleague of the country's richest people.
With a net worth of USD four billion, beverage maker Chaleo Yoovidhya is at the top spot followed by beermaker Charoen Sirivadhanabhakdi having fortune to the tune of USD 3.9 billion. At the third place is Chirathivat family witha net worth of USD 2.8 billion.
"List's youngest member is biggest shareholder and director in dry-bulk shipper Precious Shipping, founded by father Kirit. A licenced pilot, Nishita also has a clothing company called Burn Baby and is launching her own fashion label-Nsha-on three continents at the end of the year," themagazine said.
The unlisted G.P. Group has 40 companies in over 20 firms, controlling some of them but "not running any of them." "Virtually all of the family's 42 percent stake in Precious Shipping, which accounts for most of G.P.'s value, is in Nishita's name, putting her -- along with her parents and two younger siblings -- high on Forbes Asia's list of richest Thais this year," the magazine said in an accompanying reporton Nishita Shah.
The magazine calculated the net worth of people using June 26 stock prices and exchange rates. Public wealth was estimated using shareholder and financial information fromThailand's stock exchange and ministry of commerce.
"Private firms were valued using comparisons to theirpublic counterparts," it said.
Together, Thailand's 40 richest people have a net worth of USD 25 billion, which has increased by USD six billioncompared to the previous year.
"Beverage and media tycoons occupy six of the top ten positions. Collectively, they are worth USD 11.54 billion, close to half of the combined wealth of the top 40 richest inthe Kingdom," the magazine said in a statement.
This year's list has seen the return of former Prime Minister Thaksin Shinawatra ranked at the 16th place with hisfamily and have a net worth of USD 400 million.
"He returned to Bangkok in February after spending time away from the country following his ouster. He faces new charges of concealing shares, which he denies, in real estatefirm SC Asset," the statement added.
Others in the top 10 are Dhanin Chearavanont and family (4th place), Krit Ratanarak and family (5th), Praneetsilpa Vacharaphol and family (6th), Vichai Maleenont and family (6th), Chamnong Bhirombhakdi and family (7th), Chamnong Bhirombhakdi and family (8th), Somporn Juangroongruangkit and family (9th) and Anant Asavabhokin (10th). PTI
business magazine Forbes.
The "Thailand's 40 Richest" rankings to be published in the latest issue of Forbes Asia, has placed Nishita Shah andfamily at the 19th spot with a net worth of USD 375 million.
Twenty eight-year-old Nishita is also the youngest in theleague of the country's richest people.
With a net worth of USD four billion, beverage maker Chaleo Yoovidhya is at the top spot followed by beermaker Charoen Sirivadhanabhakdi having fortune to the tune of USD 3.9 billion. At the third place is Chirathivat family witha net worth of USD 2.8 billion.
"List's youngest member is biggest shareholder and director in dry-bulk shipper Precious Shipping, founded by father Kirit. A licenced pilot, Nishita also has a clothing company called Burn Baby and is launching her own fashion label-Nsha-on three continents at the end of the year," themagazine said.
The unlisted G.P. Group has 40 companies in over 20 firms, controlling some of them but "not running any of them." "Virtually all of the family's 42 percent stake in Precious Shipping, which accounts for most of G.P.'s value, is in Nishita's name, putting her -- along with her parents and two younger siblings -- high on Forbes Asia's list of richest Thais this year," the magazine said in an accompanying reporton Nishita Shah.
The magazine calculated the net worth of people using June 26 stock prices and exchange rates. Public wealth was estimated using shareholder and financial information fromThailand's stock exchange and ministry of commerce.
"Private firms were valued using comparisons to theirpublic counterparts," it said.
Together, Thailand's 40 richest people have a net worth of USD 25 billion, which has increased by USD six billioncompared to the previous year.
"Beverage and media tycoons occupy six of the top ten positions. Collectively, they are worth USD 11.54 billion, close to half of the combined wealth of the top 40 richest inthe Kingdom," the magazine said in a statement.
This year's list has seen the return of former Prime Minister Thaksin Shinawatra ranked at the 16th place with hisfamily and have a net worth of USD 400 million.
"He returned to Bangkok in February after spending time away from the country following his ouster. He faces new charges of concealing shares, which he denies, in real estatefirm SC Asset," the statement added.
Others in the top 10 are Dhanin Chearavanont and family (4th place), Krit Ratanarak and family (5th), Praneetsilpa Vacharaphol and family (6th), Vichai Maleenont and family (6th), Chamnong Bhirombhakdi and family (7th), Chamnong Bhirombhakdi and family (8th), Somporn Juangroongruangkit and family (9th) and Anant Asavabhokin (10th). PTI
