Ron GluckmanContributorAsiaI cover business, innovation and entrepreneurs across Asia.COURTESY OF ASSET WORLD CORP.

With Covid-19 still keeping foreign tourists away from Thailand’s pristine beaches and bustling cities, leaving more than 80% of hotel rooms unoccupied, one would expect the CEO of one of the country’s largest developers of hospitality, retail and office properties to hunker down. Instead, Wallapa Traisorat, CEO of Asset World Corp. (AWC), has mapped out a 100 billion baht ($3.2 billion) five-year growth plan to position her company for a post-pandemic tourism boom. “It’s a short-term impact that we are facing right now,” she says. “We see huge potential growth and strength in Thai tourism.”

Wallapa’s optimism is backed by financial muscle and vision. For one, AWC is a family affair. The chairman is her father, Charoen Sirivadhanabhakdi, who is No. 3 on this year’s Thailand’s 50 Richest, with a net worth of $12.7 billion. The rest of the board includes her mother, who is the vice chair, and her husband, who is a director. Together, family-controlled entities own the lion’s share of the company. Wallapa is also among a handful of women CEOs leading a major Thai company.

Charoen Sirivadhanabhakdi (right) appearing in an event in Bangkok with his daughter Wallapa Sirivadhanabhakdi in 2016.

PITI A SAHAKORN/LIGHTROCKET VIA GETTY IMAGES

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