Bangkok--1 Apr--Siam Commercial Bank
Small and medium-size enterprises are the backbone of the Thai economy, and the best of them often perform as well as or better than larger businesses in key parameters. In recognition of these vital smaller companies, Siam Commercial Bank (SCB) and the Sasin Graduate Institute of Business Administration of Chulalongkorn University honored five outstanding local SMEs in the ninth annual presentation of the prestigious Bai Po Business Awards by Sasin. The award winners this year are Eureka Design Public Co., Ltd., Union Auction Public Co., Ltd., Doi Kham Food Products Co., Ltd., Infinite Technology Corporation Co., Ltd., and Hexa Ceram 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.
The awards are intended not just to recognize merit among winners but to support the advancement of all Thai SMEs, said SCB First Executive Vice President Ongorn Abhakorn Na Ayuthaya. "The Bai Po Business Awards by Sasin honor successful SME entrepreneurs who continually improve their performance, thereby helping to 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 evolving changes and prevailing market conditions to maintain sustainable competitiveness. We at SCB and Sasin are confidant that Thai SMEs can and will play an important role in driving sustainable economic growth in the long-term," Mrs. Ongorn remarked.
The Award selection process takes a close look at key performance factors among candidate businesses, said Sasin deputy director for Academic Affairs Thiti Vejpas. "Award winners must meet primary evaluation criteria and demonstrate distinction in the qualifications that are critical to competitiveness, namely: 1) customer focus, 2) innovation, 3) quality, 4) adaptability to change, 5) value creation, 6) branding, 7) efficiency, 8) leadership & team building, 9) social responsibility, and 10) entrepreneurship. These criteria are crucial in developing strong SME businesses. In the Award selection, the Evaluation Committee Panel does not limit the number of entrants or winnners, and does not rank the winning companies against each other," Mr. Thiti explained.
Honorary chairman of the Thai Chamber of Commerce Dr. Ajva Taolananda, in his capacity as chairman of the Evaluation Committee Panel, announced that the Committee has selected five companies to receive this year's awards, as follows:
Eureka Design Public Company Limited: Eureka Design is a designer and manufacturer of machines for the automotive industry, such as leak test machines, press machines, marking machines, machining jigs, and fixture and measuring gauges. Eureka Design's sales rank among the top five in its industry in Thailand. The company focuses on providing customized service and design to order. Prior to the manufacturing process, it first creates virtual machine designs to ensure that customers can examine the product specifics in the actual working environment, allowing them to fix any flaws before fabrication. This approach saves time and cost for customers. Eureka won the Bai Po award for its distinction in Leadership & Team Building, Adaptability to Change, and Customer Focus.
Union Auction Public Company Limited: Union Auction is the first Thai company to conduct public auctions in a fair and transparent manner and the largest in the local industry today. It is the only company in Thailand that provides market analysis and trend records for the used car market. To ensure that both buyers and sellers are satisfied with merchandise, all items are carefully checked in terms of quality before being put to auction. The company has adopted an e-auction system to enable bidders to enter the auction via internet and on a real-time basis. The company won for its outstanding peformance in terms of Quality, Branding and Efficiency.
Doi Kham Food Products Co., Ltd.: A manufacturer and distributor of concentrated vegetable and fruit juices and dehydrated fruits, Doi Kham Food Products was established following His Majesty King Bhumibol Adulyaej's initiatives to encourage hill tribes to grow other crops instead of opium poppies. To support farmers' efforts, the company purchases crops from them at fair prices and processes them in its factory for sale to customers. Owned by the Crown Property Bureau and the Royal Project Foundation, Doi Kham provides natural products that are safe and free from toxic chemicals,and develops new products to substitute for imported fruits. The company won for its outstanding results in terms of Social Responsibility, Branding, and Value Creation.
Infinite Technology Corporation Co., Ltd.: A leading manufacturer and distributor of parking guidance systems (PGS), queuing management systems (QMS), taxi meters with printers, and systems for monitoring security guards, Infinite Technology Corporation conducts its own research to develop better products, resulting in lower cost, higher quality, and product characteristics suiting the preferences of its Thai customers. The company's success is based upon modern business concepts and management, with an emphasis on efficiency and a lean organizational approach to generate consistent profitability. The award was granted for the company's distinction in Customer Focus, Leadership &Team Building, and Entrepreneurship.
Hexa Ceram Co., Ltd.: As Thailand's largest full-service dental laboratory, Hexa Ceram produces a wide range of products using the latest intra-oral scanner technology and digital modelling techniques. Its products are made-to-order, emphasizing quality and use of materials with industry certification like ISO and CE. The company has exported products to Europe for more than a decade. To increase efficiency and accuracy, Hexa Ceram employs a barcode scan system to track all work processes from receiving materials and parts until delivery of finished products to customers. With a strong commitment in developing people, the company established its own training center to create more experts in its specialization. Hexa Ceram is exemplary in placing priority on the well-being of its staff and creating a happy workplace. The award honors the company's distinction in Quality, Entrepreneurship, and Leadership & Team Building.
The five recipients of this year's Bai Po Business Awards by Sasin demonstrate the strong capabilities of Thai SMEs today. These companies are committed to growing sustainably by emphasizing key factors like leadership and team building, adaptability to change, customer focus, quality, branding, efficiency, social responsibility, value creation and entrepreneurship.