Three tycoons of disaster warn of 1997-type storm clouds | Bangkok Post: news

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Tycoons of disaster urge caution

State policies creating a bubble, they warn

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  • Writer: Nareerat Wiriyapong
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Three businessmen who lost most of their empires during the tom yum kung crisis are warning of a nascent economic bubble, blaming policies that have encouraged consumers to take on debt while the government borrows hugely to spur the economy. 

From left, Sawasdi Horrungruang, Boonchai Bencharongkul and Prachai Leophairatana. The three business tycoons discussed how they survived the 1997 crisis. (Photo by Pawat Laopaisarntaksin)

Boonchai Bencharongkul, a founder of No.2 mobile operator Total Access Communication (DTAC), voiced concern about a potential new crisis forming.

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