Panida Thepkanjana

WATTHANAVEKIN CLAN: Panida grows with the family business
14 June 2004
The Nation (Thailand)

Takes the property arm to new heights

The Watthanavekin family once controlled a widely diversified business empire but is now best known for its property interests. Nurtured by Panida Thepkanjana, now 44, the property division survived the regional financial tumult and under her guidance continues to expand.

Panida, a second-generation member of the Watthanavakin clan, was assigned by her mother to handle the family property trade after her graduation from Chulalongkorn University with a law degree 20 years ago.

At the time the property in question was Baan View Mai on Vibhavadi Road. Other minor projects were developed before her family and their business partners, the Vongkusonkij family, established Amarin Plaza Plc in 1990 to develop Amarin Plaza on Ratchadamri Road.

My family assigned me and my older brother to the project, she recalled.
Next came neighboring projects like the luxury Grand Hyatt Hotel and Erawan Sogo shopping plaza, for which renovations are now under way to revitalise it as the Erawan Bangkok. I love doing this work, because I always dreamed of being an engineer, but my father insisted I study law or political science, Panida said. Being a property-developer is my dream come true.

No sooner were the first major projects completed, however, than the Thai economy was shaken by the financial crisis of 1997. Amarin Plaza Plc had to restructure in keeping with the new fiscal environment.

We had some outstanding loans, so we had to restructure some of the debt as well as our business management, Panida said. The expansion of our property business had to slow down because of the crisis.

Seven years on, Amarin Plaza Plc is again expanding, beginning with the refurbishing of Erawan Sogo as Erawan Bangkok and the Grand Hyatt. Renovations are also planned for Phloenchit Centre and the JW Marriott Hotel. Nearly Bt2 billion is being invested.

The company will also invest more in its property sector to focus on the services business, such as hotels, retail outlets and office buildings, Panida said. Our group survived the crisis because our partner and staff supported the company’s management plans to solve the problem, she said. I believe that if you trust your partner and your staff, you’ll have the confidence to face up to any crisis and survive.

Panida’s success earned her international recognition from the US-based Star Group last year as one of the Leading Women Entrepreneurs of the World. It was a wonderful response to my work and proves that women can have the power if they know and utilise their abilities,she said.
Somluck Srimalee
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New concept spa hotel; Princess presides at opening
5 May 2007
Bangkok Post

HRH Princess Soamsawali graciously presided over the grand opening of the Barai spa hotel, located at the Hyatt Regency, Hua Hin. The princess was warmly welcomed on arrival by Khunying Natthika Angubolkul, Panida Thepkanjana, and the hotel's general manager Adam Myott.

The opening ceremony was held at the Salarai water court, where beautiful apsaras danced in the water to entertain the guests.

In the evening, a special four-course dinner was served at Ban McFarland for an exclusive group of guests, who also enjoyed two special performances: An Apsara candle dance and a human puppet show. On hand to serenade the diners -- most of whom were invited to take advantage of the eight residential spa suites and the 18 treatment rooms, all designed by leading architect Lek Bunnag _ was Nonthiya Jiewbangpla and her band. A surprise number, Im-Oon, featured four sisters of the Wattanavekin family: Khunying Natthika, Panida Thitinan Wattanavekin and Vansamorn Wannamethee.
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Amarin Plaza in expansion mode
1 June 2004
Thai News Service
Knight Frank Thailand

The group also plans other investments in tourist destinations around the country. Amarin Plaza is owned by the sugar giant Watthanavakin and Wongkusolkit families. Panida said the group had restructured its management following the financial crisis and was now taking careful steps towards business expansion. "The economy now has shown signs of a strong recovery, offering potential for expansion," she said, adding that the group would continue to expand its investments in the hotel sector. Last quarter, Amarin Plaza posted net profit of Bt120.65 million on revenue of Bt623.88 million. Half of its income came from hotels and services, the rest from office and retail business.

Section: Corporate News - After suspending expansion for years following the 1997 economic crisis, Amarin Plaza is now gearing up to make substantial property investments throughout next year. Executive director Panida Thepkanjana declined to disclose any figures yesterday, but said the funds mobilized would not be less than the company's recent investment of close to Bt1 billion to renovate two complexes at the Rajprasong intersection. The company recently invested Bt858 million to renovate the Grand Hyatt Erawan Hotel and the Erawan Bangkok department store building. Renovations are expected to be completed next quarter, with soft openings scheduled for the fourth quarter. Already 95 per cent of the commercial space in the department store previously named Erawan Sogo - has been leased, from a total of 7,000 square metres. Erawan Bangkok is marketed as a boutique mall, focusing on middle-class consumers. Panida said the next plan was to renovate the Phloenchit Centre office building and shopping centre and the JW Marriott Hotel on Sukhumvit Road. Work is scheduled to begin later this year. Investment in these projects is forecast to be similar to the budget spent on the renovation of the Erawan Bangkok.
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NEWSMAKERS - Couple cements relationship.
24 January 2003
Bangkok Post
High-profile guests at a stylish wedding
Krissie na Klongtoey

Celebrating their wedding at The Oriental Hotel earlier this month were Michel Lefebvre, executive vice-president of Cements Francais and CFO of Italcementi, and Anita Maria Chanrasmi, senior vice-president finance of Padaeng Industry PCL.

The party concluded a four-year courtship initiated by something as mundane as a debt restructuring deal for Jalaprathan Cement, in which the bride and groom were adviser and advisee respectively. Surprises, patience and the celebrated French romanticism led to the happy event celebrated in the presence of such dignitaries as His Majesty the King's Principal Private Secretary Arsa Sarasin, and Bangkok Bank patriarch Chatri Sophonpanich, who also lent his warm and friendly support.

Among the guests were the bride's good friends from Mater Dei School days - Kalayapa (Mo) Panich and Ruetaivadee (Candy) Siboonruang. The two had been invited to chaperone Anita - in typical Henry James style - on a visit to Michel's holiday home in the south of France. Desperate for some time alone with Anita, Michel announced that he had three bicycles for the young women to go off on an excursion. When the time came, however, only two were in working order, so Mo and Candy took off on their own, armed with a message written by Michel in French saying - or so they thought - that, should they get lost, they should be directed to a friend of Michel who would take them home.

In fact, the note stated that the two girls were to be wined and dined leisurely at the local cafe with the best of French hospitality. Michel, of course, took the opportunity to invite Anita on a long walk and turned on his charm in true French tradition. The conclusion was that the chaperones failed miserably in their mission, but then no one is complaining.

The wedding, which took place in Assumption Church, was witnessed by Chatri and Ninthira Sophonpanich, along with other high profile guests such as former deputy prime minister Amnuay Viravan, former minister Suvarn Valaisathien, Gen Ayuphool Karnasuta and Panida Thepkanjana. The bridal bouquet was caught by good friend MR Supanee Diskul, who was more than pleased at this good omen. Originally she had been concerned when she first heard about her friend's impending marriage, wondering what could have gotten into Anita.

The reception at The Oriental was attended by lots of friends of the bride; Public Health Minister Sudarat Keyuraphan, Deputy Parliament Speaker Suchart Tanjaroen, Oranuch Wongpreecha, Romanee Thien-prasith, Khunying Jada Wattanasiritham, Tinakorn Asvarak, and designer Nakorn Sambhandaraksa (who arrived just in time from the US). Paveen Limpichart performed on the piano and sang She to the delight of the bride and groom and guests.

After the Bangkok reception, Anita and Michel flew off to Paris where they celebrated their wedding once again among Michel's friends and relatives. On this trip, Anita carried with her a list of 10 girlfriends who she is planning to match with some of Michel's friends. One name on the list apparently was Duj Kasemsuwan.
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Thaksin's son proves to be wise investor.
15 December 2001
The Nation (Thailand)
Panthongthae Shinawatra, the prime minister's son, remains the richest investor in the Thai stock market, holding more than Bt12.4 billion worth of shares in Shin Corp and Thai Military Bank.
According to Money & Banking magazine, Thailand's second richest shareholder is also closely associated with Prime Minister Thaksin Shinawatra. His brotherinlaw, Banphot Damapong, this year holds Bt6.47 billion in Shin Corp shares.
A distant third on the list of 500 richest shareholders is TV tycoon Pravit Maleenont, whose BEC World stocks total 11.4 per cent or Bt5.1 billion. Others in the Maleenont clan also rank high, including Prachum Maleenont, Prasarn Maleenont, Rattana Maleenont and Amporn Maleenont. They each hold more than Bt3.5 billion worth of BEC World shares.
Realestate tycoon Anant Asavabhokin climbed back into the top five after falling to 11th place last year. His stock assets this year total Bt4.6 billion, thanks to a dramatic surge in Land & Houses share prices.
Entertainment king Paiboon Damrongchaitham is ranked 10th, holding 53.2 per cent of Grammy's shares worth Bt1.8 billion.
Several Cabinet members disappeared from this year's list after transferring their stocks to others before taking ministerial posts.
Deputy Communications Minister Pracha Maleenont, who ranked fifth last year, transferred BEC World stock to his daughters.
Commerce Minister Adisai Bodharamik, 14th last year, transferred Jasmine International shares to his wife and son, and is now 29th on the list.
Panida Thepkanjana, wife of Justice Minister Pongthep Thepkanjana, climbed from the 139th spot last year to 24th this year, with Bt535 million in stock assets, an almost 500percent increase in her wealth.
Some famous names on SET's 'rich list'
1. Panthongthae Shinawatra (Shin Corp, Thai Military Bank) Bt12.48 billion
2. Banphot Damapong (Shin Corp) Bt6.47 billion
3. Pravit Maleenont (BEC World) Bt5.1 billion
4. Anant Asavabhokin (Land & Houses, Quality House, Mandarin Hotel) Bt4.6 billion
10. Paiboon Damrongchaitham (Grammy Entertainment) Bt1.8 billion
14. Bunchai Benjarongkul (United Communication Industry) Bt886 million
24. Panida Thepkanchana (Kiatnakin Fianance, Pheonix Pulp & Paper, Thai Sugar Terminal) Bt535 million
29. Pitchaya Bhodaramik (Jamsine International) Bt470 million
51. Prachai Leophairatana (Thai Petrochemical Industry, TPI Polene, Bangkok Union Insurance) Bt302 million
71. Sawasdi Horrungruang (Sun Tech Group, Hemaraj Land & Development) Bt227 million.