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Wed, July 5, 2006 : Last updated 19:30 pm (Thai local time)



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Home > Business > Executive elite flee to Germany





STREET WISE
Executive elite flee to Germany

Thanks to La Nina, Bangkok has been quite cool with rain showers cascading down on a daily basis.

But for businessmen, the temperature has not dipped low enough to reduce the heat induced by the constant political turmoil. As consumers are wary about spending, businessmen cannot proceed with their investment plans.

No wonder that so many of Bangkok's business elite have been seen in Germany. Though the weather is quite hot there - sometimes 35 degrees Celsius, which is rather high for a country where air-conditioners are not widely used - the 2006 World Cup is an event that is supposed to bring peace and joy to their hearts.

When Thai Beverage Plc took some senior Thai journalists to Cologne to watch the England versus Portugal match last week, the scribes accidentally encountered GMM Grammy Plc chairman Paiboon Damrongchaitham. He was there with his wife and two handsome sons.

Paiboon did not keep secret his plan to stay in Germany till the end of the World Cup.

And if reporters have any questions about Central Retail Corp Plc, the retail arm of the Central Group, they should not expect to reach any top executives for comment. We have learned that company chief Tos Chirathivat led a group of top executives on a flight to Germany to watch the games.

But unlike Paiboon, they also went there for business. Under Central Retail is SuperSports, the chain that sells sports clothing and equipment. One insider said the executives wanted to update themselves on the latest trends, so they could boost their business.

Many envy them basking in the sun and experiencing the giddy excitement of world class football while ordinary Thais are left behind in the cold showers, wondering each day what new sinister developments will erupt.

achara_d@nationgroup.com








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