Latest news with #CharoenSirivadhanabhakdi
Yahoo
25-06-2025
- Business
- Yahoo
Thai Beverage's controlling family sets out shareholding changes
Charoen Sirivadhanabhakdi, Thailand's richest man and the controlling investor in drinks giant Thai Beverage, has outlined changes to the company's shareholder structure. According to a series of documents lodged with the Singapore Stock Exchange, Charoen has passed his stakes in holding firms that own the majority of ThaiBev to his children. The holding companies own around 66% of the Chang beer and Larsen Cognac maker. Charoen, 81, has transferred the stakes in the firms to his five children, the filings show. However, as part of the changes, the children have activated an agreement that will confer on Charoen 'the authority to manage and make all decisions in respect of the business and assets' of the group. ThaiBev is part-way through its current financial year. In the six months to the end of March, revenue grew 1% to Bt117.62bn (US$3.6bn). Net profit was down 9.2% at Bt17.77bn. Sales were 'mainly driven' by ThaiBev's beer and non-alcoholic drinks businesses, the Bia Siagon brewer said. The Old Pulteney whisky maker's spirits business is its largest when measured by sales. In the period to the end of March, sales from spirits dropped 1.5% to Bt64.52bn, with volumes down 1.9%. The division's net profit dropped 10.3% to Bt11.6bn. In January, International Beverage, ThaiBev's international arm, snapped up full ownership of Asiaeuro International Beverage to accelerate growth in Asia, with a particular focus on China. AIB was established in 2018 as a joint venture between International Beverage and Asia Group Corporate Limited, to bolster the ThaiBev subsidiary's route to market in Greater China. In ThaiBev's 2023/24 financial year, which ran to 30 September last year, revenue grew 2.2% to Bt340.29bn. Net profit inched up 0.6% to Bt35.27bn. Last July, ThaiBev struck a share-swap agreement to increase its stake in Singapore-based food and drinks producer Fraser & Neave (F&N). The deal saw ThaiBev's stake in F&N rise from 28.21% to 69.61%. "Thai Beverage's controlling family sets out shareholding changes" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
24-06-2025
- Business
- Business Times
Billionaire leaves ownership of Thai beermaker to five children
[BANGKOK] Thailand's richest man Charoen Sirivadhanabhakdi distributed stakes in holding firms which control about 66 per cent of Thai Beverage to his five children, though stopped short of handing over full control of the drinks giant. The scions of the octogenarian billionaire put into effect a shareholders' agreement which will confer on their father 'the authority to manage and make all decisions in respect of the business and assets' of the entity, according to filings to the Singapore exchange late on Monday (Jun 23). That move means that a key question over who will ultimately take over Charoen's sprawling business empire remains unanswered, as a succession plan gathers pace. The tycoon is worth an estimated US$10.9 billion, according to the Bloomberg billionaires Index. A cornerstone of that is Thai Beverage, the maker of Chang beer, which also operates distilleries across Scotland. The share transfer is part of a longer term shift in the holdings of the patriarch and his late wife Khunying Wanna Sirivadhanabhakdi as succession beckons. The company did not immediately respond to a request for comment. Thapana Sirivadhanabhakdi, his elder son, is ThaiBev's current chief executive officer. The restructuring means he will share the family's controlling stake in the firm with his brother, Panote Sirivadhanabhakdi, who's the CEO of Singapore-listed property developer Frasers Property, as well as three sisters – Atinant Bijananda, Wallapa Traisorat and Thapanee Techajareonvikul. Thapanee is the CEO of Berli Jucker – a conglomerate with interests including grocery retailer Big C, while Wallapa helms Asset World, a Thailand-focused hospitality firm. BLOOMBERG
Straits Times
24-06-2025
- Business
- Straits Times
ThaiBev billionaire leaves his ownership of company to his five children
The move stopped short of handing over full control of Thai Beverage, the drinks giant and maker of Chang beer. PHOTO: CHANG BEER/FACEBOOK ThaiBev billionaire leaves his ownership of company to his five children SINGAPORE - Thailand's richest man Charoen Sirivadhanabhakdi distributed stakes in holding firms which control about 66 per cent of Singapore-listed Thai Beverage to his five children, though stopped short of handing over full control of the drinks giant. The scions of the octogenarian billionaire put into effect a shareholders' agreement which will confer on their father 'the authority to manage and make all decisions in respect of the business and assets' of the entity, according to filings to the Singapore exchange late on June 23. That move means that a key question over who will ultimately take over Mr Charoen's sprawling business empire remains unanswered, as a succession plan gathers pace. The tycoon is worth an estimated US$10.9 billion (S$14 billion), according to the the Bloomberg Billionaires Index. A cornerstone of that is ThaiBev, the maker of Chang beer, which also operates distilleries across Scotland. The share transfer is part of a longer term shift in the holdings of the patriarch and his late wife Khunying Wanna Sirivadhanabhakdi as succession beckons. The company didn't immediately respond to a request for comment. Thapana Sirivadhanabhakdi, his elder son, is ThaiBev's current chief executive officer. The restructuring means he will share the family's controlling stake in the firm with his brother, Panote Sirivadhanabhakdi, who's the CEO of Singapore-listed property developer Frasers Property, as well as three sisters – Atinant Bijananda, Wallapa Traisorat and Thapanee Techajareonvikul. Ms Thapanee is the CEO of Berli Jucker – a conglomerate with interests including grocery retailer Big C, while Ms Wallapa helms Asset World Corp., a Thailand-focused hospitality firm. Shares of ThaiBev were unchanged at 45.5 cents at 11.33am on June 24. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Bloomberg
24-06-2025
- Business
- Bloomberg
Billionaire Leaves Ownership of Thai Beermaker to Five Children
Thailand's richest man Charoen Sirivadhanabhakdi distributed stakes in holding firms which control about 66% of Thai Beverage Pcl to his five children, though stopped short of handing over full control of the drinks giant. The scions of the octogenarian billionaire put into effect a shareholders' agreement which will confer on their father 'the authority to manage and make all decisions in respect of the business and assets' of the entity, according to filings to the Singapore exchange late Monday.
The Star
27-05-2025
- Business
- The Star
Second-richest Thai billionaire hands stakes in major companies to children
BANGKOK: Thailand's second-richest person Charoen Sirivadhanabhakdi (pic) transferred ownership of two major listed companies to his five children as the octogenarian businessman pulls back from day-to-day management of his beer-to-property conglomerate. Charoen sold all of his shares in Sutthasup 9 Company to his offspring, according to late Monday (May 26) filings of Asset World Corp. and Berli Jucker. Sutthasup 9 has indirect control of the companies. The statements did not say how much Charoen owned in the companies. Major shareholders' restructuring will have no impact on current management structures, business operations and strategic direction of the companies, the filings said. Berli Jucker's shares fell as much as 3.3 per cent, while shares of Asset World dropped as much as three per cent in Tuesday trading. The key benchmark stock index slid 1.6 per cent. Charoen, 81, has a net worth of about US$11.6 billion, according to the Bloomberg Billionaires Index. Charoen's business empire includes Thai Beverage Pcl, the nation's largest whiskey and spirits maker, Fraser and Neave Ltd., a Singapore-based food and beverage maker, and Frasers Property Ltd. Chaoren has been gradually pulling out of active leadership positions in his group companies. In February, he retired as the chairman of Frasers Property and assumed the title of chairman emeritus at the Singapore-listed developer. A month earlier, he quit as the chairman of Fraser and Neave. But he retains control of TCC Group, the conglomerate with significant holdings across beverage, real estate, consumer goods and retail companies. Earlier this month, Frasers Property said in a filing it was seeking to take Frasers Hospitality Trust private. Charoen appears to be avoiding a succession drama that has plagued other wealthy families in Asia. He began the restructuring of his holdings as part of plans for passing down the investments to his children, Wallapa Traisorat, Asset World's chief executive officer and Charoen's daughter, said in an interview last year. In March 2024, share transactions among two major shareholders of Asset World sparked a two-day jump in overseas investor net selling of Thai equities. Charoen's recent public appearance, in which he was photographed in a wheelchair, came at the opening of the US$3.6 billion 'One Bangkok' property project in October, his family's biggest real estate venture. Charoen's children also include Thapana Sirivadhanabhakdi, Thai Beverage's chief executive officer, Thapanee Techajareonvikul, CEO of Berli Jucker, and Panote Sirivadhanabhakdi CEO of Frasers Property. Charoen's spouse, Wanna, passed away in 2023. "I would like my business to have a sustainable growth by avoiding any excessive spending and borrowing beyond its capacity,' Charoen said during a recent interview with the Thai Chamber of Commerce. - Bloomberg
