Published on October 18, 2005

Whenever its name comes up, King Power is recognised by most Thais as the country’s biggest operator of duty free shops. But how often have you heard that it also earns revenue from other businesses?

For seven years, the company has earned a sizeable income from advertising banners in Don Muang International Airport. The contract expires when the new Suvarnabhumi airport opens, but King Power has been quietly awarded another contract to handle similar advertising banners inside and outside of Suvarnabhumi for a period of 10 years.

Notably, this is on top of a contract allowing King Power to conduct business in a 20,000-square-metres of commercial space in the new airport.

There is also an unconfirmed report that King Power has been assigned the duty of selecting the commercial banks that will be allowed to offer their services at the new airport.

If you’re a regular traveller, you’ll know the large number of Thai banks that provide foreign exchange as well as other services at Don Muang. Given its bigger size, Suvarnabhumi should have more banks with more outlets.

but, the unconfirmed report says that only three banks will make their presence felt among the expected 45 million passengers travelling through the airport every year.

They are Siam Commercial Bank, which recently joined King Power in launching the charitable “We Love the King” wrist bands, Siam City Bank and TMB Bank. Absent will be the top three banks – Bangkok Bank, Kasikornbank and Krung Thai Bank.

To be fair, the number of banks has nothing to do with the number of outlets, and the services and foreign exchange rates of most banks are very similar. Moreover, if the report is true, the three lucky banks can open as many outlets as they can.

Perhaps this report serves simply to show that King Power is not just a duty-free shopkeeper.

achara_d@nationgroup.com

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