The Iran attack on the cargo ship Mayuree Naree in the Strait of Hormuz on March 11 attracted international public attention. The ship belongs to one of Thailand's most famous business families - the Shah family.
The ship is part of the "Naree" fleet operated by the shipping company Precious Shipping. This business is listed on the Thai Stock Exchange and is an important member of the multi-industry group GP Group, a business empire controlled by the Shah family.
From Indian rice traders to "Shah of Bangkok
The origin of GP Group can be traced back to 1860, when the family's ancestors - Khetsee Khinsi Harbham - left a small village in India to seek opportunities in the rice trading industry in Mumbai.
In 1868, he and his son founded Devjee Khetsee & Company and quickly expanded operations to Yangon, Myanmar - then one of the largest rice export centers in the world.
The family then expanded their operations to Thailand, then still named Siam, in 1918 under the Gangjee Premjee & Company brand. After World War II, Bangkok became the family's main business base.
By 1950, the family officially used the Shah surname. During this period, businessman Chimanlal Shivjee Shah became so famous that the Indian community in Bangkok called him "Shah of Bangkok" thanks to his vast business network and influence in the business community.
Multi-industry business empire
The group's major turning point took place in the 1970s-1980s when businessman Kirit Shah took over leadership. He shifted the group from traditional agricultural trade to a multi-industry investment model.
One of the important pillars is Precious Shipping, established in the 1980s. The company's ships all have names ending with the word "Naree", becoming a distinctive mark of the fleet.
In addition to sea transport, the group also owns many businesses in the fields of pharmaceuticals, mining, energy, technology and private aviation.
Among them, Mega Lifesciences, a manufacturer of pharmaceuticals and supplements, is considered the most valuable asset in the family's investment portfolio.
The group's other activities also include the mining company Golden Lime, the startup technology project Eka and private airline MJets.
One of the richest families in Thailand
According to Forbes rankings, the Shah family ranks 34th in the list of 50 richest families in Thailand in 2025, with estimated assets of about 945 million USD.
Today, the new generation of the family is continuing to lead this business empire. One of the prominent faces is Nishita Shah, Kirit Shah's eldest daughter, currently playing an important role in GP Group.
She was also widely known to the public when participating in the Shark Tank Thailand television program as an investor.
Mayuree Naree ship with 23 Thai crew members was attacked and caught fire in the Strait of Hormuz on March 11. The Oman Navy rescued 20 crew members. Three crew members are missing as of March 12.
Iranian Revolutionary Guards forces admit to attacking the ship.
On March 12, the Thai Ministry of Foreign Affairs requested Iran to apologize for the ship shooting incident in the Strait of Hormuz.
