ENTREPRENEURS

After ending his work at Oishi Group on Sept 9, Tan Passakornnatee, the founder of the green tea and restaurant company, will form his own business.

‘‘It’s the right time for me to leave Oishi as we have already achieved what we committed to our shareholders,’’ says Mr Tan.

A new company with a concept of ''Do Hundred for Hundred'' will be officially announced on Sept 9 and will hold his 3.5% stake in Oishi.

''The new business will not be aimed at generating profits but rather will be about my happiness, and it will be an example for society,'' said Mr Tan, 51.

At the announcement of his resignation yesterday, Mr Tan said he would devote more time to his family and his personal businesses, including the Villa Maroc luxury resort in Pranburi, Prachuap Khiri Khan province, and a flea market in Lop Buri province.

Mr Tan has also developed football fields in Soi Thong Lor and in Sukhumvit Soi 22 in Bangkok. His new business will utilise his land assets. Mr Tan owns seven or eight land plots.

''It's the right time for me to leave Oishi as we have already achieved what we committed to our shareholders,'' he said.

Mr Tan, who is renowned as a marketer, sold a majority of his stake to Thai Beverage owner Charoen Sirivadhanabhakdi five years ago. At that time, he promised the new owner he would manage the company for three more years.

Five years ago, Oishi posted sales of only 4 billion baht and employed 50 people. By the end of this year, the company is expected to achieve sales of 8.4 billion baht, up 20% from last year.

Oishi has been listed on the stock market for seven years and its share price has grown dramatically from 17 baht to 70 baht.

''Oishi is quite solid in terms of administrative management, human resources and technology. I think I can step down now and give more time to my family and my private business,'' he said.

Oishi shares closed yesterday on the Stock Exchange of Thailand at 68.75 baht, down 1.25, in trade worth 655,000 baht.