Chalermchai Mahagitsiri : Kueng
President & Chief Executive Officer and Member of Executive Committee of Thoresen Thai Agencies (TTA)
Chalermchai Mahagitsiri or Kueng is the first son of Prayudh Mahagitsiri, a shareholder of Nestlé Coffee Factory (Nescafé). Through their many businesses the Mahagitsiri’s are one of the richest families in Thailand. Chalermchai finished his bachelor’s degree in Accounting and Finance from Suffolk University, United States then went on to earn his Master’s degree in Economics and Finance from Boston University, United States. He returned to Thailand and spent time in the entertainment industry. As expected, he then stepped both feet into the business arena to carry on his father’s work.
One of his greatest successes to date is when he took over the stock market listed Thoresen Thai Agencies (TTA). He successfully lead a loss making enterprise back into profitability. Kueng took the chair and became an Executive Committee member and the CEO. He remarkably turned around the crisis at TTA converting the operating loss into an operating profit. By converting TTA which was a cruise line company into a holding company, Keung enabled the company to do various kinds of businesses and thus maintain a net yield.
Fast forward to the present day the company earns income from a wide range of investments. TTA maintains its presence in the transportation industry namely, the dry bulk shipping business, petroleum tanker business, and shipping services businesses. The company also has interests in the energy industry, providing offshore services to the oil and gas industry through Mermaid Maritime Public Company Limited. Other investments cover the coal industry, a logistics business and stock ownership in Unique Mining Services Public Company Limited. A further interest is in Baconco Company Limited, a remarkable company manufacturing and selling fertilizer in Vietnam. Baconco is now listed on the Thailand stock market. In addition to this long list of investments, TTA has also put money into Sino Grandness Food Industry Group Limited, a Chinese manufacturer and distributor of juice.
Kueng, the eager young businessman holds true to his father’s words: Study thoroughly and gain the right information before making any decision. Once investing in something, take good care of it and make it strong and resilient. Investing is like raising a child, one needs to care for him until he has grown up and has a good life.
Kueng says that being a great businessman’s son is very challenging. The obvious benefit is that you get to have a platform to launch from, however; it is quite tiring when you didn’t build the platform yourself as you have to study the work of others. With this in mind Kueng took his time learning his father’s system and processes, remembering what his father had said to him that to earn something is hard but to maintain it is even harder. Kueng’s father taught him many other lessons, such as, to always think hard before doing something, not be scared to make decisions and be able to accept the outcome because everything is an experience. Business is similar to life, there are rights and wrongs in it. All you have to do is to learn them along the way.
Being a businessman is in Kueng’s blood. What he calls his hobby is doing business that he enjoys. He has an entertainment business and arranged a Korean star concert in Thailand, he owns a Japanese noodle (ramen) restaurant and owns a franchise of French Macaron brand Pierre Hermé. His reason for his investments in the food business is that he is interested in the hospitality industry. When he has a hard day at work, he will come to serve ramen in the evening if he has time. He feels good to see the happy faces of people eating in his restaurant. Similarly when he arranged a concert, he got to see people having fun. He has a good time making gifts for customer at Pierre Hermé shop as well.