Five Thai companies honored by Bai Po Business Awards by Sasin set to embrace Thailand 4.0 for innovative products and services

Stocks and Financial Services Press Releases Thursday February 16, 2017 17:00
Bangkok--16 Feb--Siam Commercial Bank

Siam Commercial Bank has collaborated with Chulalongkorn University's Sasin Graduate Institute of Business Administration to hold a twelfth annual presentation of the prestigious Bai Po Business Awards by Sasin. The awards serve to promote Thai Small and Medium-Sized Enterprises (SMEs), the backbone of the Thai economy, while urging these smaller companies to fully embrace the government's Thailand 4.0 policy to drive the country towards the digital era by laying a strong foundation for a sustainable, value-based economy. The award winners this year are J&J Warehouse and Service Ltd., Part., Tropicana Oil Co., Ltd., Pemco Inter Light Co., Ltd., ReadyPlanet Co., Ltd., and Smart ID Group Co., Ltd. The awards reflect the outstanding performance and strong future potential of these Thai SMEs. The award presentation ceremony was held at Siam Commercial Bank's Talad Noi Branch, and presided over by Mr. Anand Panyarachun, Chairman of the Bank's Board of Directors.

Speaking about SMEs, Mrs. Pikun Srimahunt, Head of SCB's Small SME Segment and Mortgage Products unit remarked that, "SME businesses have been recognized as crucial in supporting Thailand's sustainable economic growth. Recent statistics reveal that SME business in Thailand is worth 5.5 trillion baht, accounting for 41.1% of Thailand's GDP, which is the first time the number has rebounded higher than 40% since 2009. It is gratifying to witness SMEs overcoming difficult times while the internal and external economies have still not fully recovered. We are grateful for their dedication to developing their potential and strengths to effectively tackle challenges. The Bank sincerely believes that Thai SMEs can raise the bar even further by fully leveraging innovation and creativity in their products and services to embrace Thailand 4.0. Their efforts will help generate value for their products, while increasing the competitiveness necessary to expand the global trade arena.

Siam Commercial Bank has collaborated with the Sasin Graduate Institute of Business Administration of Chulalongkorn University in honoring successful SME entrepreneurs who continually improve their performance, thereby helping raise standards for the overall industry. The Awards are a collaborative effort between Siam Commercial Bank and the Sasin Graduate Institute of Business Administration of Chulalongkorn University. Organized annually since 2008 to recognize Thai companies demonstrating distinction among peers, the Award program encourages SMEs to realize the importance of raising their standards in every way and keeping abreast of changes and prevailing market conditions to maintain sustainable competitiveness. We at SCB and Sasin are confident that Thai SMEs can and will play an important role in driving sustainable economic growth in the long-term," Mrs. Pikun remarked.

To increase market opportunities, award recipients can use the award symbol to promote their products and companies to increase trustworthiness for customers and business partners. The award program allows all SMEs in Thailand to take part, not only SCB customers.

The Award selection process takes a close look at key performance factors among candidate businesses, said Sasin Graduate Institute of Business Administration Deputy Director for Administrative Affairs Professor Kua Wongboonsin. "Award winners must meet primary evaluation criteria and demonstrate distinction in the qualifications critical to competitiveness, namely: 1) Sustainable Business Practice, 2) Innovative Enterprise, 3)Customer-Focused Product and Service, 4) Branding and Marketing, 5) Operational Best Practice, 6) Financial Strength, 7) People Excellence, and, 8) Entrepreneurship. These criteria are crucial in developing strong SME businesses. In award selection, the Evaluation Committee Panel does not limit the number of entrants or winners, and does not rank winning companies against each other."

Market for Alternative Investment (mai) President Mr. Prapan Charoenprawatt, in his capacity as Evaluation Committee Panel, announced the awards for the following companies:

J&J Warehouse and Service Ltd., Part., a leading provider of total warehouse and logistics solutions for warehousing, stock management, and transportation. J&J Warehouse and Service won the Bai Po Business Award for itsCustomer-Focused Product and Service, and Operational Best Practice.

Tropicana Oil Co., Ltd., a leading manufacturer of cold-pressed coconut oil that uses innovative technology to extract pure organic oil from coconut meat and coconut shells with impressive health benefits under the Tropicana Oil, Kalapa, and Rain & Shine brands. The company was awarded for its outstanding performance in terms of Sustainable Business Practice, Innovative Enterprise, and Entrepreneurship.

Pemco Inter Light Co., Ltd., an importer and seller of decorative lights that has face-lifted its business to become Thailand's first lighting studio under the "Lamtitude" brand. The company also provides lighting design for shops and venues. The company was awarded for its outstanding results in terms of Operational Best Practice, and Branding and Marketing.

ReadyPlanet Co., Ltd., Thailand's first service provider of ready-made website services and solutions with more than 16,000 users, mobile applications useful for the digital age, training services for website systems, and digital marketing. The award was granted for the company's distinction in Customer-Focused Product and Service, Innovative Enterprise, and Entrepreneurship.

Smart ID Group Co., Ltd., a designer, manufacturer, and seller of electronic consumer products designed to serve the lifestyles of the new generation under the Anitech, Pentagonz, Nobi, and 45° brands. The company was awarded for its outstanding results in terms of Branding and Marketing, and Entrepreneurship.

The five recipients of this year's Bai Po Business Awards by Sasin offer exemplary role models for SMEs and business circles through their strong dynamism. They have increased their capabilities, differentiated their products from those of their competitors, and created sustainable growth in order to receive recognition and credit from consumers.

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