Four Thai companies honored by Bai Po Business Awards by Sasin

          Small and medium-size enterprises are the backbone of the Thai economy, and the best of them often perform as well as or better in key parameters than larger businesses. In recognition of these vital smaller companies, Siam Commercial Bank (SCB) and the Sasin Graduate Institute of Business Administration of Chulalongkorn University recently honored four outstanding local SMEs at the eleventh annual presentation of the prestigious Bai Po Business Awards by Sasin. 
          The award winners this year are KT Restaurant Co., Ltd. Kim Pai Lamitube Co., Ltd., After You Co., Ltd., and Humanica Limited. 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 according to the Head of the SCB SME Segment Vipon Vorasowharid. "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 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," Mr. Vipon remarked.
          The Award selection process takes a close look at key performance factors among candidate businesses, said Sasin Entrepreneurship Center Director Kongpan Pramoj Na Ayudhaya. "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 the Award selection, the Evaluation Committee Panel does not limit the number of entrants or winners, and does not rank the winning companies against each other," Mr. Kongpan explained.
          Honorary chairman of the Thai Chamber of Commerce Dr. Ajva Taolananda, in his capacity as chairman of the Evaluation Committee Panel, announced the awards to the following companies: 
          KT Restaurant Co., Ltd.: KT Restaurant Co., Ltd. operates Thailand's first steakhouse franchise in department stores under the "Santa Fe" brand. The company commits to using high quality products at reasonable prices, with as many as 80-90% of customers repeating their visit to the casual dining locations. The company is seeking to be the Number 1 in steakhouses in Thailand. KT Restaurant won the Bai Po Business Award for its branding and marketing, entrepreneurship, and operational best practice. 
          Kim Pai Lamitube Co., Ltd.: A "Kim Pai" group company, is a manufacturer of toothpaste tubes and laminate personal care tubes for many leading brands, including Unilever, P&G, and Colgate. With its commitment to innovation, it is the first company in Thailand to produce laminate tube with a metallic look, and has developed an "invisible side seam" to make the tube stronger and neater, allowing customers to add features at lower cost. The company was awarded for its outstanding performance in terms of innovative enterprise and customer-focused product and service. 
          After You Co., Ltd.: "After You" is a dessert cafe originating from the strong willpower of two cousins who had previously operated sea food restaurants. Both brought their experience and skills to start a dessert cafe business, focusing on premium mass customers. "After You" has been able to expand rapidly with its strategy of choosing easily accessible locations and personnel development with an effective operating system. The company was awarded for its outstanding results in terms of operational best practice, customer-focused product and service, and entrepreneurship. 
          Humanica Co., Ltd.: Humanica is Thailand's leading and largest provider of human resource management solutions, including business process outsourcing. In particular the company focuses on HR service systems, such as payroll and payroll accounting systems, which help improve operating efficiency for firms by shortening and simplifying complicated operational processes which are prone to errors. It is also the first company to develop the system as a mobile application to increase convenience for customers. The award was granted for the company's distinction in innovative enterprise, customer-focused product and service, and financial strength. 
          The four 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 branding and marketing, entrepreneurship, innovative enterprise, customer-focused product and service, and financial strength.