Panote Sirivadhanabhakdi
Noah Dolinsky for Forbes Asia
This story is part of Forbes’ coverage of Thailand’s Richest 2026. See the full list here.
Panote Sirivadhanabhakdi, son of liquor tycoon Charoen Sirivadhanabhakdi, has been making moves to revamp the family’s real estate portfolio held by Singapore-listed Frasers Property, which he oversees as group CEO. Last year, the company paved the way for the restructuring by taking its Frasers Hospitality Trust private in a S$1.4 billion ($1 billion) deal. In May, Frasers Property sold four of its industrial properties in Europe to its Frasers Logistics & Commercial Trust for €295 million ($343 million). A month later, it announced a proposal to reshuffle its hospitality portfolio, which includes selling five hotels, such as the former InterContinental Singapore and others in Japan, Malaysia and the U.K. worth a combined S$1.1 billion to the family’s privately held TCC Group Investments. It also disclosed that four of its hotels in Australia and Europe will be put up for sale.
The plan “frees up capital for higher-return opportunities,” said Loo Choo Leong, chief financial officer of Frasers Property, in a June statement. Shares of Frasers Property are up a third since last year, helping to boost the patriarch’s net worth by $1 billion to $11.5 billion. The billionaire‘s other interests include breweries, food and beverage, packaging and retail.
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