Suthikiati vowed he would never sell out

Published on September 14, 2005 - The most famous member of the Chirathivat clan, Suthikiati said he would never part with his stake in Post Publishing.

His true passion is politics, and he has always wanted to be a politician. Speaking at an international meeting at the Sofitel Central Hua Hin resort more than a decade ago, Suthikiati said he would like to enter politics one day.

But family members raised their eyebrows. They doubted that politics and business could go together. Suthikiati was eventually talked out of entering politics.

But he was compensated with his stake in Post Publishing, the publisher of Bangkok Post and Post Today. The Chirathivat family had acquired a sizeable 30 per cent of Post Publishing during the leadership of Samrit, the eldest brother and leader of the families’ second generation. Samrit died years ago, and shares in Post Publishing were distributed among family members. Suthikiati now holds 15 per cent of the company, where he takes an active role in management.

Due to his passion for politics, Suthikiati enrolled at Ramkham-haeng University late in life, graduating with a bachelor’s degree in political science in 2003. This year, he earned a master’s degree in political science at the same university.

As one of the second generation of the Chirathivat family, he grew up in the shadow of older brothers Samrit and Wanchai. Samrit took over the family business from founder Tiang and laid the foundations for the Central Group to prosper. The group now claims more than 100 businesses, including the flagship Central department stores, hotels, fast food and real estate.

Suthikiati, however, still had to prove himself. Eventually, he rose to take over the clan’s hotel and fast-food businesses. But his involvement in Post Publishing boosted his profile. He liked mingling with socialites, but it was the publishing business that gave Suthikiati an established place in Thai society.

Post Publishing also helped boost the image of the Chirathivat family, playing a key role in enhancing the family’s businesses, directly and indirectly.

But other family members did not feel comfortable running a publishing business. Later on, Suthikiati’s son-in-law, Supakorn Vejjajiva, was assigned to take charge of all of Post Today’s marketing.

From the beginning of the Thaksin government, Post Publishing has been under pressure from the government and has changed editors three times in as many years. Recently, the company asked two senior political editors to leave after an erroneous report about cracks in a runway at the new airport.

There were also rumours that Paiboon Damrongchaitham, head of the GMM Grammy Group, was interested in buying Post Publishing.

Suthikiati held talks with Paiboon over the buy-out at the GMM Grammy Building but refused to relinquish his stake. But other family members were not so sentimental and were ready to sell.Suthikiati’s half-brother Suthichai helped persuade other family members to sell their stakes to Paiboon.

Suthikiati is currently in the US with his son, Passankorn, who is entering university.

Things will be different when Suthikiati returns home next Monday.