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Wednesday, May 8, 2024

EV Boom Drives Electronics Magnate Back Onto Thailand Rich List

This story is part of Forbes’ coverage of Thailand’s Richest 2021. See the full list here.

As global car sales rebound with the easing of lockdowns, so is demand for printed circuit boards (PCBs) made by KCE Electronics, a leading supplier to the automotive industry. Automakers are not only packing cars with more electronics, last year saw accelerating sales of electric vehicles (EVs), a segment KCE already serves.

A more than threefold surge in KCE’s stock price over the past 12 months has driven up the net worth of its founder and chairman, Bancha Ongkosit, 69, to $970 million, putting him back on the list after a three-year hiatus.

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