When Kritcharat Hirunyasiri left a career as a medical doctor to become the head of his family’s gold business, he was determined to turn it into one of Thailand’s best. Today the MTS Gold Group president is one of the country’s leading gold analysts, best known from regular appearances on TNN 24 and the Money Channel, as well as various radio and television programmes.
MTS Gold Group began over 60 years ago as a modest shop selling gold ornaments. After a period of rapid growth, it expanded into a wholesaler for over 1,000 retailers, an importer and exporter of gold bullion and a broker of gold futures in Thailand’s stock market. The company’s revenue totalled 400 billion baht last year, a marked rise from the 100 million when Mr Kritcharat first came to the helm.
What are the secrets behind his success? Mr Kritcharat has promised a few of his insider’s tips. To explain the current climate in gold investment, he begins by pointing to two significant trends. Firstly the world has seen a recent shift in demand from Western to Asian countries, in particular China, India and Southeast Asia. Gold has always been a prominent part of Asian culture. Now the region’s rising buying power means China has the world’s largest consumption, followed by India. Thailand ranks fifth, with a total consumption of 140 tonnes last year.