Published on November 21, 2005

Prime Minister Thaksin Shinawatra yesterday admitted that Yan Bin, or Charnchai Rouyrungrueng, who owns the manufacturer of Red Bull energy drinks in China, is a Chinese-Thai business tycoon who acts as a link between the Thai Rak Thai Party and the Communist Party of China.

“He is close to both Thai Rak Thai and the Communist Party. This is good because the executives of both parties can become closer and have good relations. I understand that the person who raised this issue might not like Charnchai. It is more of a personal matter,” he said upon returning from Seoul, where he participated in the Asia-Pacific Economic Cooperation leaders’ summit.

Last Friday, Sondhi Limthongkul, owner of the Manager Group, launched an attack against the prime minister, accusing one of the premier’s younger sisters of misusing an Air Force aircraft, digging up a shady deal relating to the Thailand Tobacco Company’s investment in a tobacco factory in Chiang Mai, and charging that Thai Rak Thai has set up a branch in China.

Sondhi said Yan Bin liked to boast at dinner tables that he could influence the policies of the Thai government and liked to invite key members of Thai Rak Thai to play golf at his Pine Valley Resort and Country Club in Beijing.

Thaksin said Charnchai only acts as a coordinator for Thai Rak Thai and is not a representative of the party in China.

According to “Hurun Report 2005 China Rich List”, dual-citizen Yan Bin, 51, is listed as China’s 30th-richest individual with a net worth of about US$400 million (Bt16.5 billion). He is the head of Ruoy Chai International Group and Huabin International Investment Group. Yan Bin owns the Pine Valley Resort and Country Club, which overlooks the Great Wall of China. The membership fee in this golf club is $150,000, plus an annual fee of $1,200. He also owns a 50-per-cent stake in Red Bull Vitamin Drinks, a joint venture with Chaleo Yoowittaya of Thailand.

Born in Shandong, he survived the cultural revolution and came to Thailand. He was close to Pramarn Adireksarn, a former leader of the Chat Thai Party. He set up a business in Thailand at the age of 30, becoming involved in property management, travel and trade. Upon his return to China in 1995, Yan Bin set up Red Bull, followed by a string of commercial property acquisitions including the luxury golf course.

According to the People’s Daily (July 17, 2001), Huabin is a transnational corporation with its headquarters in Bangkok and branches in the United States, Canada, Singapore and Hong Kong.

Its major investment destination is China, where the contractual value of its investment totals 4.5 billion yuan (Bt23 billion) in the fields of beverages; real estate and property management; Disney-like theme parks; five-star deluxe country clubs; inbound and outbound tourism; and international trade and finance.

The newspaper described Yan Bin as “a patriotic compatriot”. Its report said: “Being young and successful, the Chinese-Thai entrepreneur owns about 50 enterprises in the fields of real estate, tourism, business and trade and has put investments around the world. Since 1992, Yan has invested in China, participating in the economic construction of his motherland. Red Bull Vitamin Beverage Co Ltd, founded by Yan, has developed into a well-known domestic enterprise. He also established Beijing Wonderland Co Ltd, Huabin International Tower Co Ltd and Huabin Plantation Club Co Ltd in 1997 and 1998.”

Political Desk

The Nation

Post your comment to this story here