Chachchon Ratanarak

Chachchon Ratanarak (Thai: ชัชชน รัตนรักษ์; RTGS: Chatchon Rattanarak) is Chairman of Tonson Group and one of Thailand’s most influential business figures.[1] The Ratanaraks are one of the few remaining 'old money' families in Thailand and have substantial holdings in a number of Thai-based companies including Krungsri Bank, Siam City Cement, Allianz Ayudhya, Sri Ayudhya Capital, Matching Studio, Grand Canal Land and Eastern Star Real Estate as well as holding a majority stake in Bangkok Broadcasting and Television Company (BBTV), which operates Thailand's Channel 7.

Early life

Born in 1972, Chachchon is the only child of Krit Ratanarak, chairman of BBTV and head of the Ratanarak Group. He is the grandson of Chuan Ratanarak, who founded Bank of Ayudhya (known today as Krungsri Bank), Siam City Cement (producer of the Insee Cement brand) and Bangkok Broadcasting and Television and was one of Thailand’s last great self-made business Titans.[2]

Chachchon, also known as Ton or Tone, was educated in Thailand until he was 10. He continued his primary and secondary education in England, earning a degree in Economics from London University 1996.[3]

Professional life

Described by a senior Goldman Sachs veteran as 'a natural entrepreneur', after leaving university Chachchon was asked to join Goldman Sachs but chose instead to work for his father.[3]

Chachchon founded fund management business Primavest in 2001 which at its height in 2007 had US$900 million in assets under management. Primavest was sold to Bank of Ayudhya Funds in 2009. Chachchon founded Tonson Group in 2006 and Tonson Property in 2007, which are the family’s investment arm and property development businesses.[4]

Chachchon has been a director of Siam City Cement since 2007.[5]

According to a Thai biographer: “It is no exaggeration to conclude that today the Ratanarak's empire remains a giant with a bright future, with Chachchon Ratanarak the third generation leader in line to continue and to extend this solid family business’s tradition of prosperity.” [6]

The Ratanarak family are known to be very private; Forbes call them “a very secretive clan,[7] and Chachchon has been described as “influential while staying below the radar.” [1]

According to Forbes the Ratanarak family’s holdings in the group businesses in 2014 were estimated to be worth US$5.1 billion, based on publicly known assets and excludes private assets and property.[8] In 2012 the Thai publication ‘Which Family is Richest’ reported the Ratanarak family as having holdings in excess of US$10 billion since 1998 when other assets are included.[9]

Ratanarak group businesses
  • Allianz Ayudhya
  • Sri Ayudhya Capital
  • Bangkok Broadcasting and Television (Channel 7)
  • Krungsri Bank (Bank of Ayudhya)
  • Matching Studio
  • Grand Canal Land
  • Eastern Star Real Estate
  • Tonson Group
  • Siam City Cement (Insee Cement)
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References
  1. Business Report Thailand. January 2012. pp. 43–45. Missing or empty |title= (help)
  2. "BANK OF AYUDHYA CHAIRMAN PASSES AWAY". Bangkok Post. 4 August 1993.
  3. "High on design". Property Report South East Asia. Retrieved 26 August 2011.
  4. "Tonson Targets High-End Niche". Bangkok Post Business. Retrieved 13 November 2009.
  5. "Siam City Cement PCL". Financial Times Market Data. Retrieved 13 November 2009.
  6. Sapphaibūn, Thanawat (2001). Sutyō̜t čhaosūa Thai (Phim khrang rǣk. ed.). Krung Thēp: Samnakphim Dapbœ̄n Nāi. p. 497. ISBN 9746603264.
  7. Forbes Magazine. 18 July 1994. p. 162. Missing or empty |title= (help)
  8. "Krit Ratanarak". Forbes. Retrieved 2 July 2014.
  9. Jaiyen, Boonchai (2012). Which Family is the Richest. pp. 37–54. ISBN 978-616-7363-70-7.
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