SCB and Sasin announce six Thai SME winners of the 18th Bai Po Business Awards by Sasin and share success stories to help SME successors advance their businesses

Thanks to their crucial business elements and inspiration for SME peers, the award winners: BCL 2002 Co., Ltd., P.V.T Manufacturing Co., Ltd., Food Equipment Co., Ltd., Siribuncha Co., Ltd., Ekarach Paper Industry Co., Ltd., and Eminence International Limited received the awards from SCB Chairman of the Board of Directors Dr Vichit Suraphongchai, who presided over the award presentation ceremony.

The awards aim to recognize and promote the strength and business sustainability of Thai SMEs to help them weather aggressive competition amid an era of digital disruption.

In his speech at the award presentation ceremony, SCB Chairman of the Board of Directors Dr Suraphongchai said that global mega trends in the post-pandemic period over the past few years have driven the transformation of Thai SMEs toward digital organizations. However, technology acquisition is not the most important thing for becoming a digital organization. Rather, the acquired technology must help the business reap advantages and make a distinctive difference. The sooner the adaptation, the sooner the advantages businesses will gain. Amid consumer lifestyles drastically changing, the ability to adapt is very important for the sustainable survival of SMEs. The hot global trend for 2023 is the environment, covering environment conservation, renewable resources, carbon credits, and more. To move business forward, Thai SMEs should consider adopting environmental, social, and corporate governance (ESG) principles as a framework for making their businesses more competitive.

Talking about the outlook for Thai SMEs, Honorary Chairman of the Thai Chamber of Commerce Dr Ajva Taulananda, as chairman of the Bai Po Business Awards by Sasin Committee, said that the past few years have been very tough for businesses to adapt due to challenging situations and drastic changes in consumer behaviors. However, the great thing to admire about Thai SMEs is their resilience in recovering from the pandemic crisis, immunizing themselves against business risks and learning to quickly adapt. They have turned the crisis into new opportunities in line with future global market trends and embraced technology and innovations to improve their effectiveness and strength toward more value-added and customer-centric business development.

SCB Chief Executive Officer Mr Kris Chantanotoke said that SCB has promoted the development of Thai SMEs and catered to their needs beyond just financial considerations, noting that the Bank offers a diverse range of financial solutions, business development seminars and workshops, networking events, and business partnerships to strengthen the SME sector and help support Thailand’s economic survival. The Bai Po Business Awards by Sasin is a collaboration between SCB and Sasin School of Management, Chulalongkorn University to promote the potential of Thai SMEs in product and service differentiation, resilient entrepreneurship, and SME peer aspirations.

As role models for SMEs with continuous development and outstanding differentiation, the 6 winners of the 18th Bai Po Business Awards by Sasin are as follows:

BCL 2002 Co., Ltd. was awarded for elements of sustainable business practice, innovative enterprise, and entrepreneurship. Starting as an original equipment manufacturer (OEM), the family business faced an increasing number of rivals in the market. To maintain competitiveness, differentiation is essential. Further to an overseas trip to a trade exhibition, the company was inspired to further develop the business toward medical textile manufacturing and seek technology for product differentiation and adding value to existing products. The company is the first and only company in Thailand to develop anti-bacterial PERMA Nano Zinc fabric for medical and sport usage, such as clothing for medical personnel and patients, bandages, sports clothing, socks, and anti-bacterial plastic products. Featuring an innovative technology, nano zinc oxide with a permanent anti-bacterial property is embedded into fabric without any leakage of heavy metals that are harmful to the environment. Meeting international safety standards, the product is free of toxic substances.

P.V.T Manufacturing Co., Ltd. was awarded for elements of innovative enterprise, customer-focused products and services, and entrepreneurship. During the founder’s generation the company was a distributor of an international brand of animal feed preservatives. The business successor considered continuous dependence on suppliers a business risk, so the company focused on its own formula and product research and development and began manufacturing feed additives to prevent contamination. The company is the manufacturer and distributor of feeds additives and preservatives that meet the ISO 9001:2015, GHP, HACCP, and FAMI-QS standards, with control properties against mold and bacteria that are harmful to animals’ gastrointestinal systems. The company also manufactures internationally patented feed additive solution dispensers.

Food Equipment Co., Ltd. was awarded for elements of innovative enterprise, customer-focused products and services, and entrepreneurship. The company originally developed automated machines to address clients’ food manufacturing pain points, and was then inspired to become center for  the food processing equipment industry, such as meat slicers, fish/meat skinning machines, burger molders, feather removal machines, and slaughter equipment. The company’s outstanding innovations prevent and reduce the chances of accidents during the process and reduce waste. The company is a pioneer in Thailand in tapping into online markets, restaurant chains, factories, hotels, and dominant food manufacturers such as CP, Betagro, and Makro. Food Equipment is a company behind the success of many dominant food processors, providing advisory service, custom-made machinery solutions, and innovations suiting each client’s requirements, as well as after-sale services covering the end-to-end food manufacturing and processing supply chain.

Siribuncha Co., Ltd. was awarded for elements of customer-focused products and services, branding and marketing, and entrepreneurship. The company is the manufacturer and distributor of Siribancha alcohol products. The company’s strong branding and customer loyalty are owed to a strategy to always maintain product quality in line with the tagline “Siribancha, the quality that you can trust.” Further to customers’ trust in the brand for over 70 years, the company has developed products answering its customers’ needs. The company is the first in the market to offer blue-colored alcohol to suggest cleanliness and differentiate the brand for better consumer recognition. The company also manufactures traditional herbal medicine under the Yogi brand.

Ekarach Paper Industry Co., Ltd. was awarded for elements of customer-focused products and services and entrepreneurship. The company is an expert in paper box design and manufacturing. Initially the company focused on tapping into the furniture and fruit export segments, but sales plummeted when clients in the furniture export sector moved their production base to other countries due to economic slowdowns, while the fruit export business was limited by seasonal issues. The company therefore adjusted its strategy to curb risks by not limiting itself to a particular client sector. After a study of clients’ needs and pain points, the company has become a one-stop provider of paper box design and manufacturing without a minimum order requirement. This business differentiation addresses the needs of small entrepreneurs and online merchants, and includes offering offset, inkjet, and digital printing options and material features such as chemical-free, water-resistant, and fire-resistant cardboard and other materials. The company’s own brand of Click Boxes offers paper boxes for online businesses.

Eminence International Limited was awarded for elements of customer-focused products and services, people excellence, and entrepreneurship. The company has been an importer and distributor of medical machines and equipment for over 51 years. Once facing internal issues and fading trust by clients, the company transformed itself by decentralizing for better risk management and emphasizing integrity and people engagement as part of its corporate culture for best customer service. With a tagline of “the promise of health,” the company aims to be a solution provider offering medical innovations for good health, such as plasma thawing machines, nebulizers, tablet and capsule counters, dental equipment, blood bags, and blood pressure monitors. The company also has its own Furano brand of consumer products, such as ultrasonic denture and retainer cleansers and denture cleansing tablets, etc.

The Bai Po Business Awards by Sasin Committee comprises committee members who are distinguished experts across business sectors. Award nominees do not need to be a client of SCB or Sasin. To apply as an award nominee or for more information, please visit www.baipo-business-award.org or call 02-2184001-9, ext.179.