Five Thais make power list

Five Thais make power list

Five Thai women and the two top decision-makers of China's e-commerce giant Alibaba have made it onto this year's Forbes Asia list of 50 Power Businesswomen.

Somporn Juangroongruangkit, Wandee Khunchornyakong, Chadatip Chutrakul, Yuwadee Chirathivat and Sunee Seripanu are recognised by the business magazine as being among the region's most powerful female executives.

Mrs Somporn, 64, is president of Thai Summit Group and with her husband has built an auto-parts operation in seven countries with 23,000 employees. She is ranked 28th on the Forbes Asia list of richest Thais with wealth of US$900 million.

Ms Wandee, 56, is chairman and chief executive of SPCG Plc, one of the largest solar power developers and operators in Asean, whose shares surged 35% last year.

Ranked 48th on the Forbes Asia list of wealthiest Thais with net worth of US$345 million, she owns almost 43% of the listed company. The UN Framework Convention on Climate Change in December cited her for "leading a women-powered solar energy transformation".

SPCG was founded in 1996 but business has boomed only in recent years. With Japanese partner Kyocera, SPCG has constructed 36 solar photovoltaic farms. 

Ms Chadatip, 54, chief executive of Siam Piwat and Siam Paragon Development, broke ground on the huge $1.54-billion shopping and residential project Iconsiam. 

Ms Yuwadee, 61, chief executive of Central Department Store Group, led the family-run company through political strife to achieve respectable growth in Thailand and neighbouring countries.

As the highest-ranking female executive, she heads perhaps the most powerful and visible division and has responsibility for nearly 160 stores.

Ms Sunee, 50, chief executive and chairman of Mc Group, has turned the company into one of Southeast Asia's leading jeans producers, with 2013 revenue of $236 million, up 16%, as part of aggressive expansion in Thailand and the region.

She has also stepped up diversification, highlighted by the 2013 acquisition of Time Deco, a watch company, and the promotion of a wider range of brands.

Alibaba's chief financial officer Maggie Wu makes the list after leading its initial public offering, the world's biggest. She is joined by Lucy Peng, a co-founder of Alibaba and the energy behind its fast-growing Ant financial services unit.

Included for the first time on the Asia list are women from Mongolia and Myanmar. Garamjav Tseden is founder and chairman of Mongolian mining company Monpolymet, while Win Win Tint created retail conglomerate City Mart in Myanmar.

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