Thai billionaire Su Xuming transfers equity of two listed companies to five children

According to the Bloomberg Billionaires Index (Bloomberg Billionaires Index), Su Xuming, 81, has a net worth of approximately US$11.6 billion (about S$14.9 billion). The business kingdoms he established include Thailand's largest whiskey and spirits maker Thai Beverage, Singapore's food and beverage maker Fraser  and Neave, and real estate developer Frasers Property.

The above three companies are listed on the Singapore Exchange, and Thailand Brewing is a constituent stock of the Straits Times Index.

The two companies also said that the restructuring of major shareholders will not have an impact on their current management structure, business operations and strategic direction.

According to Bloomberg, the second richest man in Thailand, who is 80 years old, sold all his shares in Sutthasup 9 to his children. Sutthasup 9 indirectly holds holding shares in Thai real estate company Asset World Corp; and trading company Berli Jucker. Asset World Corp and Berli Jucker did not disclose how much shares Su Xuming holds in the two companies.

Thai billionaire Charoen  Sirivadhanabhakdi) transferred the equity of the two large listed companies to five children and withdrew from the daily management and operation of the two companies.