12 of Thailand’s largest companies kick off post-flood rehab project

Twelve leading Thai corporations on Tuesday jointly launched a special fundraising project for the country’s post-flood relief and rehabilitation.

Named "The Power of Thai", the project was set up by 12 of Thailand’s leading private companies, including Thai Beverage (ThaiBev), Central Group of Companies, True Corporation, Bangkok Bank, GMM Grammy, Thai Union Frozen Products, BTS Group Holdings, Mitr Phol Group, Major Cineplex Group, Muang Thai Life Assurance, Advanced Info Service (AIS) and ICC International.

The first fundraising event of the Power of Thai project is to sell one million wristbands in next two weeks. The group expects to earn Bt100 million from sales and plans to spend the money to relieve flood victims through various activities.

As several companies earlier held their own flood rehabilitation and relief activities, initiator Thapana Sirivadhanabhakdi, ThaiBev president and CEO, believes the new group can help boost and strengthen efficient cooperation and management in the private sector, and invites other companies to join this project.

Initially, each company contributed money to related processes, the ThaiBev president said. Money earned from the wristband fundraising event will be spent on rehabilitation, particularly for school repairs, as the floods damaged many schools.

According to a survey, at least 1,900 schools, including buildings and equipment, were destroyed in flood-hit provinces, according to True president and CEO Supachai Chearavanont. 

He explained that the group is focusing on school repairs and education-related rehabilitation as education is crucial and the schools are like community centers.

Regarding post-flood economic rehabilitation, Mr Supachai said that he agrees to the government speeding up investment in a project related to a mega-irrigation system and its management.

Not only would it help boost the economy, employment and money circulation, the irrigation project will also build investors’ confidence to invest in Thailand, the True president and CEO added.