TAIPAN
Princess Kartika | CNN Indonesia
Sunday, 25 Feb 2024 08:00 WIB
The Osathanugrah family is ranked 10th in Thailand’s richest people. The creator of the M-150 energy drink is worth IDR 36 trillion. (Basith Subastian/CNNIndonesia)
Jakarta, CNN Indonesia —
Osathanugrah family is a business owner Osotspa, one of the oldest companies in Thailand. This year the company that produces the popular M-150 energy drink turns 132 years old.
The source of the family’s wealth comes from the energy drink business. Osatspa controls around 47 percent or almost half of the energy drink market in the White Elephant Country.
Forbes estimates the Osathanugrah Family’s assets at US$2.5 million or the equivalent of IDR 38 trillion (assuming an exchange rate of IDR 15,594 per US dollar). With this mountain of wealth, Osathanugrah is ranked 10th in the ranks of Thailand’s richest people according to Forbes.
Osatspa’s business journey began in a small pharmacy in Sampeng, Bangkok in 1891. The pharmacy called Teck Heng Yoo sold ancient Chinese herbal medicines.
The founder was a Chinese immigrant named Pae Saelim. This small pharmacy became ‘shining’ after receiving endorsement from the King of Thailand because of diarrhea medicine.
Pae made a herbal concoction to cure stomach aches for soldiers in a special unit of the Thai Army, namely the Wild Tiger Corps. It turns out, the drug called Krisnaklan Trakilane is effective.
King Rama VI even praised the efficacy of Pae’s medicine. The story of the drug’s efficacy was written in the royal book “Disease Prevention”. Apart from that, the king also awarded Pae a medal of honor for the wild tiger soldier, and gave him the name Osathanugrah, which means prosperous family.
In 1932, Teck Heng Yoo Pharmacy moved to Charoenkrung Street in Bangkok and changed its name to Teck Heng Yoo Drug Store. Apart from producing the very famous Krisnaklan Trakilane, other common medicines are also made. Some products that still exist today include Pastilles One-One, Pastilles Botan, and Tunjai brand aspirin.
Then in 1949, Teck Heng Yoo Drug Store expanded its production by building a factory in Soi Lang Suan, Bangkok. Modern machines are starting to be used to support increased production.
As the business progressed, the Teck Heng Yoo flag was removed and the name changed to Osotspa. After choosing a ‘more Thai’ name, the company’s performance became even brighter. Osatspa expanded its business into product development and moved the factory to 28 hectares of land in Bangkapi, Bangkok.
In 1995, the company officially changed its name to Osotspa Company Limited.
Over time, management believes that Osotspa can develop further than just a family company. Steps to becoming a public company are starting to be discussed.
On October 17, 2018, Osotspa became official go public on the Stock Exchange of Thailand. Step go public This is to prepare the company’s expansion into global markets and achieve sustainable growth. The Osathanugrah family’s money continues to pile up after the IPO.
Even though it is a public company, Pae’s descendants are still the rulers of the company through majority share ownership.
Niti Osathanugrah controls 24 percent, Pasuree Osathanugrah 3.5 percent, Quesara Osathanugrah 3.1 percent and Tasharin Osathanugrah 2.8 percent. They are also directly involved in the company by joining the board of directors and commissioners.
Osotspa is now not limiting itself to the health sector, the company is also entering the Fast-Moving Consumer Goods (FMCG) sector. They produce snacks, ready-to-drink drinks and even body care and beauty products.
Osotspa products are widespread and quite popular in many countries. Product distribution reaches 39 countries in Asia, Africa, Eastern Europe, North America and South America.
Their main international markets are Myanmar, Laos and Cambodia. In Myanmar and Laos, Osatspa has even become the market leader, aka market ruler. Meanwhile, Indonesia and Vietnam are secondary markets.
(agt)
2024-02-25 01:00:30
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