Getting to Know the Shah Family Whose Ship Was Attacked in the Strait of Hormuz
Jakarta, CNBC Indonesia - The Thai conglomerate, the Shah family, has been thrust into the spotlight after the ship Mayuree Naree was attacked while transiting the Strait of Hormuz. Citing a report from CNBC International, the Thai Navy stated that the Mayuree Naree, owned by them, was attacked while crossing the Strait of Hormuz.
According to Forbes data, the Shah family is one of Thailand’s major business conglomerates. The conglomerate has wealth amounting to around US$945 million (approximately Rp14.6 trillion-Rp15.1 trillion), placing it at 34th on the list of the richest people in the Land of the White Elephant.
This family is led by Kirit Shah, who controls GP Group. This is a conglomerate that is over 157 years old.
One of the main pillars of this family’s business is Precious Shipping, a shipping company founded in 1989. The company has a fleet of ships operating globally, including strategic routes like the Middle East, making it vulnerable to unrest in that region.
In addition to shipping, the Shah family’s main assets also include Mega Lifesciences, a pharmaceutical company founded directly by Kirit Shah and now one of the most valuable businesses in their portfolio. The family also holds shares in Golden Lime, a company that produces calcium oxide and calcium hydroxide and is listed on the Stock Exchange of Thailand.
The Shah family name is also known in the public sphere through Nishita Shah, Kirit Shah’s daughter, who once appeared as a judge in the Thai version of the television show Shark Tank. With broad business exposure, particularly in the global shipping sector, the Shah family is one of the parties directly affected by the increasing security risks in the Strait of Hormuz.
For information, this attack exacerbates concerns over disruptions to global energy supplies, especially because the shipping route in the Strait of Hormuz is one of the world’s most important energy chokepoints. The region is nearly paralysed due to conflicts involving Iran as well as military actions by the United States and Israel since late February.
In this situation, merchant ships transiting the area face high risks. Including fleets affiliated with shipping companies owned by the Shah family.