Latest news with #Sarath
Forbes
20-05-2025
- Business
- Forbes
Billionaire Sarath Ratanavadi's Gulf Development Becomes Kasikornbank's Third-Largest Shareholder
A Gulf Development gas-fired power plant. Gulf Development—controlled by billionaire Sarath Ratanavadi-has increased its stake in Kasikornbank—making the energy and telecommunications giant the lender's third-largest shareholder. Bangkok-listed Gulf Development bought an additional 0.5% stake in Kasikornbank, raising its stake in Thailand's third-largest bank by assets to 5.2%, the company said in a regulatory filing. The investment is part of the continuing diversification strategy at Gulf Development, a power producer founded by Sarath in 2007. Since then the company has grown to become one of Thailand's largest conglomerates with interests in telecommunications, and digital infrastructure. It is the top shareholder of Advanced Info Service, the country's No. 2 mobile carrier by revenue. Beyond traditional financial services, Kasikornbank provides Gulf a potential virtual banking platform. Kasikornbank also owns a 38.3% stake in non-listed Muang Thai Life Assurance, which generated 5.6 billion baht ($169 million) net profit on 91.9 billion baht in revenues in 2024. 'We see this as a strategic long-term positioning move. Gulf is evolving into a national-scale infrastructure conglomerate—now covering power, telecom, satellite, banking, and potentially life insurance,' said Wetid Tangjindakun, analyst at KGI Securities (Thailand). 'Given the scarcity of quality growth names in Thai equities, Gulf stands out as a proxy for Thailand's structural digital and infrastructure evolution.' Gulf has been scaling up its investments in digital infrastructure. Last June, it partnered with Alphabet's Google to build artificial intelligence-powered cloud facilities in Thailand. Gulf Binance, a partnership between Gulf Energy and billionaire Chanpeng Zhao's Binance, started a crypto currency exchange in Thailand last year. With a real-time net worth of $12.9 billion, Sarath is among the wealthiest in Thailand. Bulf of his fortunes comes from his stake in Gulf, which has a market capitalization of about $22 billion.
Forbes
20-05-2025
- Business
- Forbes
Thai Energy Billionaire Becomes Kasikornbank's Third-Largest Shareholder
A Gulf Development gas-fired power plant. Gulf Development—controlled by billionaire Sarath Ratanavadi-has increased its stake in Kasikornbank—making the energy and telecommunications giant the lender's third-largest shareholder. Bangkok-listed Gulf Development bought an additional 0.5% stake in Kasikornbank, raising its stake in Thailand's third-largest bank by assets to 5.2%, the company said in a regulatory filing. The investment is part of the continuing diversification strategy at Gulf Development, a power producer founded by Sarath in 2007. Since then the company has grown to become one of Thailand's largest conglomerates with interests in telecommunications, and digital infrastructure. It is the second-biggest shareholder of Advanced Info Service, Thailand's No. 2 mobile carrier by revenue. Beyond traditional financial services, Kasikornbank provides Gulf a potential virtual banking platform. Kasikornbank also owns a 38.3% stake in non-listed Muang Thai Life Assurance, which generated 5.6 billion baht ($169 million) net profit on 91.9 billion baht in revenues in 2024. 'We see this as a strategic long-term positioning move. Gulf is evolving into a national-scale infrastructure conglomerate—now covering power, telecom, satellite, banking, and potentially life insurance,' said Wetid Tangjindakun, analyst at KGI Securities (Thailand). 'Given the scarcity of quality growth names in Thai equities, Gulf stands out as a proxy for Thailand's structural digital and infrastructure evolution.' Gulf has been scaling up its investments in digital infrastructure. Last June, it partnered with Alphabet's Google to build artificial intelligence-powered cloud facilities in Thailand. Gulf Binance, a partnership between Gulf Energy and billionaire Chanpeng Zhao's Binance, started a crypto currency exchange in Thailand last year. With a real-time net worth of $12.9 billion, Sarath is among the wealthiest in Thailand. Bulf of his fortunes comes from his stake in Gulf, which has a market capitalization of about $22 billion.
Business Times
19-05-2025
- Business
- Business Times
Richest Thai man raises top bank's stake to be No 3 shareholder
[BANGKOK] Gulf Development, controlled by Thailand's richest man Sarath Ratanavadi, has raised its stake in Kasikornbank to about US$610 million, making it the commercial lender's third-largest shareholder. Gulf increased its holding of Kasikornbank by 0.53 per cent from the previous disclosure to 5.23 per cent, according to a Securities and Exchange Commission statement dated May 16. The power producer and telecommunication company had ranked fourth with a 3.49 per cent stake as at Apr 18 when the lender published its top shareholder list. Sarath's Gulf last month completed the merger with Intouch Holdings, the top shareholder in Thailand's second-biggest telecom company Advanced Info Service. The company has a market capitalisation of about US$22 billion. Kasikornbank's share purchase by Gulf is part of its 'normal investment', aimed at generating higher capital gains and dividend, Gulf chief financial officer Yupapin Wangviwat told an investor meeting last week. Gulf has no plan for any close business operation with the bank in the near future, she said. Sarath built Gulf into Thailand's largest power producer and gained control of Intouch by gradually accumulating a 47 per cent stake. Sarath last week met with US President Donald Trump in Qatar, making him the only representative of a Thai business to do so, according to a Bangkok Post report. Sarath has a net worth of about US$12.9 billion, according to data compiled by Bloomberg. Kasikornbank is Thailand's second-biggest lender with total assets of 4.4 trillion baht (S$172 billion). Its shares are up about 5.5 per cent this year, bucking a 15 per cent slump in the broader Thai stock benchmark. Gulf and its partners are among the group which have bid for the Bank of Thailand's new virtual banking licenses. BLOOMBERG
Time of India
01-05-2025
- Health
- Time of India
Griffith University grants Rs 1.2 crore to researcher from Andhra Pradesh to study climate change
1 2 3 Vijayawada: A young research scholar from Andhra Pradesh clinched a prestigious research project from Australia's Griffith University to take an in-depth study to handle the extreme heat in the state. The findings of the research led by NV Sarath Chandra will aim to contribute to improving public health policies and public healthcare systems (PHCs to tertiary hospitals) in the state of Andhra Pradesh. Griffith university granted a massive Rs 1.2 crore to take up the research in AP. This is considered to be the highest amount to be granted by any foreign university to take up a research project in AP. Sarath felt that the increasing frequency and intensity of heat waves, driven by human-induced climate change, are posing significant public health challenges globally. In India, extreme heat has emerged as a leading cause of premature mortality linked to natural disasters. " Heat Health Action Plans (HHAPs) are vital policy tools designed to enhance preparedness, strengthen response mechanisms, and mitigate the health impacts of extreme heat. Effective HHAPs require broad coverage and a multisectoral approach, engaging various sectors such as health, urban planning, and disaster management," said Sarath. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo For instance, the Ahmedabad Heat Action Plan, launched in 2013, has been credited with preventing an estimated 1,190 deaths annually. According to WHO framework, a successful HHAP should include eight core components essential for achieving meaningful health outcomes. "Andhra Pradesh public healthcare system needs to play a key role in addressing this problem and extreme heat impacts the socioeconomically vulnerable populations the most," he advocated. After an year of extensive literature review around this topic at the Griffith university, Sarath Chandra has convinced his team of supervisors Dr Shannon Rutherford, Dr Ed Morgan, and Dr Thanya Pathirana to carry out research focused on improving heat action policies and public healthcare systems in AP. "We have selected AP for research as temperatures in the state record as high as 45 degrees Celsius in summers. Extending summer durations stretching several months in a year. The conditions are extremely hot almost 6 months in a year. Heat related mortality is among the highest according to India's national records. Extreme heat does not just result in high number of sunstroke cases, but it is a leading factor for several chronic and sudden health ailments," observed Sarath Chandra. He said that the state also has highest levels of humidity due to its coastal influence making conditions more vulnerable.
The Hindu
26-04-2025
- Sport
- The Hindu
Chennai-based silambam coach keeps a traditional art alive
When his friends wielded the cricket bat, K. Sarath was encouraged to brandish another piece of wood, thinner and longer. Though he had scampered down the 22 yards himself, Palavakkam resident Krishnamurthy wanted his son Sarath to choose silambam (stick fencing) over cricket for specialisation. Sarath found generous encouragement as he took this path at age four: his grandfather and his uncle had mastered silambam. He began silambam classes under Balasekar's tutelage. Sarath would go on to acquire a BBA and an MA (Journalism) degree from Hindustan College, Padur, enter the corporate world, thrive as an executive in a multi-national company; but he could not stop his ears against the swish of the silambam stick. So, here he is: an instructor of silambam and boxing; and he sees the former as a tool of empowerment and conservation. Sarath believes that by practising and teaching silambam, he is not only protecting a sport, but a tradition, Tamil tradition. There are nuances to the art and he is enamoured of them. 'Silambam is not just playing with Bamboo staffs, or Kombu (horn). It has different styles such as Kaippaadam (hand silambam), double stick fencing, single or double curl sword, alangara varusai and more.' Sarath has won four gold medals in silambam at a national-level competition held in Chandigarh, bested the competition in the Thodumurai fighting style in Chromepet competitions; and twice claimed victory in the Thanithiramai category at Coimbatore's tournaments. His name has a mention in the Asia Book of Records for a feat. Sarath was a state-level champion in boxing in 2013. Sarath has trained Shipping corporation of India Ltd (SCI) personnel in silambam-based self-defence; the sessions were based on hand silambam. Silambam techniques were meant to be an ally to these personnel when they return home from night duty — against chain and mobile snatchers, says Sarath. Sarath has students from the IT sector, the IT corridor being a parallel road to East Coast Road. Naveen, an MCA graduate and a software professional, says 'silambam engages both body and mind in a way most other workouts do not. Sarath sees the silambam stick as a tool of empowerment; the sport, a path to dignity. 'I teach poor children for free, though some families still offer what they can, unsolicited. Tamil Nadu's government inclusion of Silambam in the 3% sports quota for government and government-owned undertakings jobs ties the sport to social and economic empowerment.' For details, call 9940316610. Reporting by Arivarasu M.
