Some members of the Vongkusolkit family had their doubts when their youngest son proposed starting his own business. Sugar was what they knew and did well, but coal was a mystery to them. They wondered how long this new venture called Banpu might last.
Twenty-nine years later Banpu now is one of the leading coal companies in Asia, with reserves of just over one billion tones, market capitalisation of 108 billion baht, and net profit of 20 billion last year.
It’s been sweet vindication for founder Chanin Vongkusolkit, though he points out that Banpu is still just medium-sized in terms of market capitalisation, at 108 billion baht, ranked fifth or sixth in Asia Pacific.
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