Thailand’s TCC group to invest in TRX?

BANGKOK: One of Thailand’s largest conglomerates, the TCC Group is looking into expanding its current investment in Malaysia.

It could include a possible foray into the services industry and the Tun Razak Exchange (TRX), International Trade and Industry Minister Darell Leiking said.

Leiking who met TCC Group chairman Charoen Sirivadhanabakdi here several days ago said the billionaire indicated his intention to expand his investment in Malaysia.

“He did indicate that he’s exploring further investment in Malaysia. We definitely welcome this and tasked our respective officers to look where we can go from there,” he told Bernama in an interview at the end of his working visit to Thailand recently.

The dinner-cum-meeting with Charoen, who is one of Thailand’s top businessmen with businesses spanning several industries including food and beverage, properties, consumer goods and trading, went very well according to the minister.

Berli Jucker Pcl (BJC), part of the TCC Group, is already a major industry player in Malaysia.

Charoen’s current net worth is estimated at US$13.7 billion, as reported by US magazine, Forbes, making him one of the country’s richest men.

Asked if future investment by the TCC Group in Malaysia would include the Tun Razak Exchange, Leiking declined to give a definite answer but said the conglomerate could be looking into expanding its existing infrastructure in Malaysia, including in the services industries.

“They could expand into services industries which would create employment in Malaysia. We hope it will involve TRX and other current developments in Malaysia as well,” he said, adding that he came out feeling very bullish about TCC Group’s potential investment in Malaysia.

The TCC Group, according to him, should be given the opportunity to announce its future investment in Malaysia.

Before meeting Charoen, the minister and his entourage, which included senior officials from TRX, his ministry and the Malaysian External Trade Development Corporation also toured the Okura Prestige Hotel, one of the hotels under the conglomerate’s stable of luxury properties.

During his three-day working visit to Thailand, Darell also held meetings with Thailand’s Commerce Minister Sontirat Sontijirawong, Federation of Thai Industries and the Malaysia-Thailand Chamber of Commerce and Industry.

He also met Malaysians residing and working in Thailand.