Krit Ratanarak
Encyclopedia
Krit Ratanarak (born April 19, 1946) is the Chairman of Bangkok Broadcasting & Television Company (BBTV) and head of one of Thailand
’s leading family business groups. The Ratanarak family have substantial holdings in a number of Thai-based companies including Bank of Ayudhya, Siam City Cement, Ayudhya Allianz CP, Ayudhya Insurance, Matching Studio, Media of Medias and Eastern Star Real Estate as well as holding a majority stake in BBTV.
when he was age 6. As a young man in the 1940s he started work in Bangkok’s docks. He saved his income until he was able to buy his own ship and before long was running a successful shipping business. Over the coming years Chuan founded Bank of Ayudhya, Siam City Cement and Bangkok Broadcasting & Television Company, operator of Channel 7 Thailand, which has held more than 50% of the country’s audience share for more than three decades. By the 1980s Chuan had created a major diversified business group which in 2011 had a combined market value of more than US$12bn.
’s top 40 in 1979 to survive in the top rankings in 2009.
In the years after the crisis Krit strengthened the major family businesses by securing substantial investments from Holcim
in 1999 into Siam City Cement and from GE Money in 2006 into Bank of Ayudhya, in each case securing both outside capital and international management expertise. Since 1993 Krit has added property companies Eastern Star and Grand Canal Land and media company Matching Maximise Solution to the family business group.
In 1981 Krit became Thailand
’s youngest senator at the age of 35, serving for four terms. Krit was born in 1946 and is the eldest of six children with five sisters, four of whom now live outside Thailand
. His mother, Sasithorn, still lives in Bangkok
. He is divorced with one child; his son Chachchon Ratanarak
, born in 1972.
the Ratanarak family’s holdings in the group businesses in 2011 were worth US$2.5 billion. In 1998, Krit entered the Global Finance 600 list of the world’s most powerful financial players. The Ratanarak family are also one of Thailand
’s major land owners.
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
’s leading family business groups. The Ratanarak family have substantial holdings in a number of Thai-based companies including Bank of Ayudhya, Siam City Cement, Ayudhya Allianz CP, Ayudhya Insurance, Matching Studio, Media of Medias and Eastern Star Real Estate as well as holding a majority stake in BBTV.
Family
Krit took over the family businesses after the death of his father Chuan in 1993. Chuan Ratanarak was from a Chinese immigrant family that came to live in ThailandThailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
when he was age 6. As a young man in the 1940s he started work in Bangkok’s docks. He saved his income until he was able to buy his own ship and before long was running a successful shipping business. Over the coming years Chuan founded Bank of Ayudhya, Siam City Cement and Bangkok Broadcasting & Television Company, operator of Channel 7 Thailand, which has held more than 50% of the country’s audience share for more than three decades. By the 1980s Chuan had created a major diversified business group which in 2011 had a combined market value of more than US$12bn.
Career
Krit joined Bank of Ayudhya in 1972 becoming President in 1982 and CEO in 1990. In 1993 he became Chairman and CEO of the bank, Chairman of BBTV, Chairman of Siam City Cement and Chairman of Ayudhya Insurance. In the late 1990s, Krit navigated Bank of Ayudhya and the other family businesses through the worst of the Asian financial crisis with the result that the Ratanaraks were one of only 8 business groups who had been in ThailandThailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
’s top 40 in 1979 to survive in the top rankings in 2009.
In the years after the crisis Krit strengthened the major family businesses by securing substantial investments from Holcim
Holcim
Holcim is a Swiss-based global company supplying cement and aggregates . The company also supplies ready-mix concrete and asphalt including associated construction services.-Holcim Group:...
in 1999 into Siam City Cement and from GE Money in 2006 into Bank of Ayudhya, in each case securing both outside capital and international management expertise. Since 1993 Krit has added property companies Eastern Star and Grand Canal Land and media company Matching Maximise Solution to the family business group.
In 1981 Krit became Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
’s youngest senator at the age of 35, serving for four terms. Krit was born in 1946 and is the eldest of six children with five sisters, four of whom now live outside Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
. His mother, Sasithorn, still lives in Bangkok
Bangkok
Bangkok is the capital and largest urban area city in Thailand. It is known in Thai as Krung Thep Maha Nakhon or simply Krung Thep , meaning "city of angels." The full name of Bangkok is Krung Thep Mahanakhon Amon Rattanakosin Mahintharayutthaya Mahadilok Phop Noppharat Ratchathani Burirom...
. He is divorced with one child; his son Chachchon Ratanarak
Chachchon Ratanarak
Chachchon Ratanarak is Chairman of Tonson Group and the only child of Krit Ratanarak who as Chairman of Bangkok Broadcasting and Television Company Channel 7 leads one of Thailand’s largest family business groups...
, born in 1972.
Present
According to ForbesForbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
the Ratanarak family’s holdings in the group businesses in 2011 were worth US$2.5 billion. In 1998, Krit entered the Global Finance 600 list of the world’s most powerful financial players. The Ratanarak family are also one of Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
’s major land owners.