It was founded in 1973 by Kiat Iamphungphorn and is today headed by his children, Aphiradee and her younger brothers Kiatkamon and Kiattikul.

The company's films include the works of Wisit Sasanatieng (Tears of the Black Tiger, Citizen Dog) and Pen-Ek Ratanaruang (Ruang Talok 69, Monrak Transistor, Last Life in the Universe, Invisible Waves).

Other directors associated with Five Star include Thanit Jitnukul, Bhandit Rittakol, and Poj Arnon.

An example of collaboration with other international artists is the 2006 production Black Night, an omnibus film of stories from Hong Kong (Patrick Leung's Next Door), Japan (Takahiko Akiyama's Dark Hole) and Thailand (Thanit Jitnukul's The Lost Memory).

Through the years, Five Star Production has expanded, becoming a motion picture studio in 1979, expanding its activities to TV program production, and producing drama series between 1992 and 1998, along with making subsequent business deals with Piprodia Entertainment.