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Mon, September 4, 2006 : Last updated 22:13 pm (Thai local time)



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Home > Business > PM's niece has no time for politics





PERSONALITY
PM's niece has no time for politics

Chinnicha Wongsawat, a niece of caretaker Prime Minister Thaksin Shinawatra, has no interest in politics.

She has time only for driving her transport and logistics business to the top.

Chinnicha, or "Cheer", 25, was groomed by mother, Yaowapa, a younger sister of the prime minister, since she was a child.

She would accompany her mother on many business trips.

"She is a fast learner and has had a good business mind since she was young. We've no gap when talking of business matters. And, she can fly solo now," said Yaowapa.

Chinnicha dreamed of being a businesswoman since she was a girl.

She studied at Thammasat University's Faculty of Commerce and Accountancy and went on to a post-graduate degree in e-commerce at Birkbeck, University of London.

Mobile handset distributor M Link Asia was the proving ground for her management skills. She helped run its marketing and mobile content development.

M Link was co-founded by her mother and aunt, Monthatip Kovitcharoenkul. Chinnicha holds about 12 per cent of M Link.

Today, Chinnicha is chief strategy officer at property and construction company Wyncoast Industrial Park, which is entering the logistics arena.

Last year Yaowapa took over LCD-screen maker Capetronic International (Thailand), a listed company in rehabilitation since 2003. It was renamed Wyncoast and changed its focus to property, leased duty-free industrial zones and an integrated logistics business.

The government has a long-term policy to improve the country's logistics.

Chinnicha wanted Wyncoast to be a provider of comprehensive logistics services within the next five years.

Her family owns more than 50 per cent of Wyncoast.

The family sold its shares in publisher Traffic Corner Holdings and construction company Ascon Construction. She said these were short-term investments only.

"It was just ordinary stock investment. But we have stopped doing that to focus solely on our core business, Wyncoast," Chinnicha said, insisting the family had no plan to sell Wyncoast, which it saw as a long-term deal.

The budding businesswoman is also a keen stock-market player and the first company she invested in was Thailand's largest cellular operator, Advanced Info Service (AIS) - founded by the Shinawatra family.

As if she weren't busy enough, Chinnicha and friends have invested in a Chinese restaurant set to open at Suvarnabhumi Airport. She has also sunk her own cash into exporting spa products, but declined to reveal the brand.

Among her investment advisers were Monthatip and Thaksin's youngest sister Yingluck, formerly AIS president.

Because of the Shinawatra link, her business activities are closely watched. Many have accused her of capitalising on Thaksin's clout.

Chinnicha isn't worried and says the claims are untrue.

"Everything I do is transparent and can be scrutinised. If what you do is right, at the end of the day those who want to taint your reputation will give up and retreat," she said.








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