Pornthep Phornprapha, president of the group, which is also a service provider, said the restructuring plan focused on exporting 75 per cent of production, compared with 20 per cent in the past.

In addition, the group has undertaken more joint-venture investments instead of focusing on licensee production or manufacturing under copyright contracts.

The group has operated in Thailand for more than 54 years with more than 50 subsidiaries and a wide range of businesses including fork-lift trucks, air conditioners, auto parts, ball bearings, musical instruments, music schools, batteries, Nissan car dealerships, and soon as a Honda car dealer.

Porthep added that the group's new investment would concentrate on Bangkok Motor Works Co Ltd, a fork-lift manufacturer, to double fork-lift and earth-mover production from 3,000 units to 5,000-6,000 per year.

Eighty per cent of the output will be for export.

"The investment will also concentrate on technology development, with new automatic manufacturing lines which will be imported from Japan," he said.

Another new investment will be for NSK Bearing Thailand Co to double its ball-bearing production to serve rising demand, both in the domestic market and for export.

Porhthep said the group would also expand businesses, including property development and services such as the Siam Country Club golf course in Pattaya. The total investment is Bt800 million.

The group is also considering developing a housing project near the golf course. The plan aims to capture clients such as businessmen and foreigners with strong purchasing power.

"If we want to form a joint venture with a land developer, Land and House and Sansiri are our favoured choices," he added.

The group also plans to renovate its Siam@Siam Hotel on Phya Thai Road in Bangkok to become a three-to-four-star boutique hotel with 209 rooms. It is expected to open by the end of next year.

To boost car sales, the group has invested Bt30 million to renovate its showroom and service centre on the Bang Na-Trat Highway.