One of the most powerful corporations in Thailand
Charoen Pokphand Group (CP Group) is one of Asia's largest conglomerates, with interests spanning food, retail and telecommunications.
The Chearavanont family's core strategy is to continuously expand investments into many industries and markets, instead of focusing on just one field, thereby building strong business empires.
CP Group is also known for its aggressive investments and strategic joint ventures in China. In 1921, Mr. Chia Ek Chor, father of Mr. Dhanin Chearavanont (CP Group senior chairman), left his hometown in southern China after a devastating typhoon to start a business in Thailand as a vegetable seed trader.
Today, CP Group has become one of the most powerful corporations in Thailand, with close ties to China.
The group was one of the first foreign investors to invest in Shenzhen with registration number “0001” - right when China began to open up its economy .
CP Group currently plays a central role in the Eastern Economic Corridor (EEC) project - Thailand's investment attraction strategy. CP Group helps connect capital flows from Chinese corporations such as Alibaba and Huawei to the EEC.
At the same time, The Nation reported that CP Group's subsidiary - Asia Era One Co Ltd - is the unit granted the concession to invest and operate the 220 km high-speed railway connecting 3 major airports in Thailand with a total investment of 224.54 billion baht, expected to be completed in 2028.
In addition to infrastructure, CP Group has also expanded into other areas such as automobiles and real estate. In 2017, the group cooperated with SAIC Motor (China) to build an automobile factory and joined hands with Guangxi Construction Company to develop an industrial park for Chinese enterprises.
Since the 1980s, CP Group has invested heavily in China, especially in agriculture and livestock. By 2020, the group owned about 200 subsidiaries in China, including feed mills, supermarkets and many other fields.
Mr. Dhanin Chearavanont - Senior Chairman of Charoen Pokphand Group (Photo: Bangkok Post).
Increasing regional business acquisitions
The Chearavanont family, owners of CP Group, is now Asia’s second-richest family with an estimated fortune of $42.6 billion, according to the Bloomberg Billionaires Index. Surpassing all regional rivals, they top the list of the richest families in Thailand and Southeast Asia, second only to India’s Ambani family.
Among the assets is CP Group's stake in Chinese insurer Ping An, which has multiplied in value since it bought the stake for $9.4 billion in 2012.
“CP Group is now not only a diversified conglomerate in Thailand but also a major force in China,” Harvard Business School Professor William Kirby, who has studied CP Group, said in a report.
The Thai family business empire has also stepped up mergers and acquisitions (M&A) to expand its influence in the region.
In 2021, CP Group and Norwegian telecommunications group Telenor announced plans to merge two telecommunications units in Thailand, CP Group's True Corp and Telenor's Total Access Communication (Dtac). The $8.6 billion deal aims to promote digital transformation and develop new technologies in Thailand.
In 2023, CP Axtra, the retail arm of CP Group, announced a merger with Ek-Chai Distribution, which operates the Lotus retail chain in Thailand and Malaysia.
The 7.7 billion baht deal aims to consolidate more than 160 Makro stores and 2,500 Lotus points of sale, boosting operational efficiency and opening up new growth opportunities.
Currently, CP Group has 3 main pillars: CP Foods, CP All and True Corp. Of which, the CP Foods agricultural sector operates in 17 foreign markets, exports products to more than 30 countries and is currently the world's largest animal feed producer.
CP All is the company that will operate more than 15,000 7-Eleven stores in Thailand by 2025, according to the Bangkok Post. True Corp is the second largest mobile network operator in Thailand.
In Vietnam, the Thai billionaire also built for himself a powerful livestock and agricultural "empire".
CP Vietnam was granted an investment license in 1993 as a 100% foreign-invested company. In 2008, CP Vietnam Livestock Company Limited was officially transformed into CP Vietnam Livestock Joint Stock Company.
According to CP Foods' financial report, Vietnam is the company's largest overseas market in 2024. Revenue from Vietnam accounts for about 21% of total revenue, equivalent to 122 billion baht.
The parent company in Thailand is also accelerating the initial public offering (IPO) plan of CP Vietnam. Sharing with the media in March, the company's CEO said that after many years of waiting, the company is ready to start the IPO process as soon as it is licensed by the management agency in Vietnam.
Source: https://dantri.com.vn/kinh-doanh/ong-trum-dung-sau-tap-doan-cp-kiem-tien-the-nao-de-giau-nhat-thai-lan-20250602145228856.htm
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