KANANA KATHARANGSIPORN
During a temporary leave from politics, former Thai
Rak Thai party-list MP Boonchoo Treethong plans to spend 100 million baht to build the Plato brand of teak wood furniture in the international market. ”I’ve left politics since Sept 19,” he said, referring to the date of the military coup. ”I’ll wait to see the situation for a while before deciding whether to come back [to a political role] or not.”
Mr Boonchoo is now helping with his only daughter’s furniture business. He is both a consultant and chairman of BPS Milcon Co Ltd, which manufacturers teak wood furniture under the Plato brand.
The company has been in the timber business as an original equipment manufacturer (OEM) since 1987. It stopped operations in 2002, however, as the ousted 1997 Constitution banned politicians from doing business.
BPS Milcon resumed the business last year with the 50-million-baht renovation of its wood factory in Lampang. It then launched the Plato teak wood furniture brand and opened its first showroom at Siam Paragon.
”After we came back, the furniture market changed a lot with new strong competitors like China and Vietnam where the wages were very low.”
”Only manufacturing is not enough, so we had to have our own design and create our own brand,” he said.
The company also planned to open another three to four branches in the future and would establish an international presence within the next three years, with roadshows in the United States and Europe.
The company uses teak wood imported from Burma that it receives through a five-year concession agreement. It has also planted 2,000 rai of golden teak in Lampang, and mahogany on a 100-rai site in Mae Hong Son, Mr Boonchoo said.
As the Thai baht gained strength, the company lost 25% from exports, while its margin was only about 8%, he said.
The company plans to prevent a loss from currency fluctuations by discussing with customers adjustments in its selling prices. It also plans to enter new markets like the Middle East and rent a booth overseas to set prices.
At 61 years old, Mr Boonchoo said he would not retire from working as he said it would make him ”dry out”.
