Deloitte announces winners of the inaugural Thailand’s Best Managed Companies awards program

BANGKOK, 23 July 2021 – Six private enterprises were recognised as inaugural winners of Thailand’s Best Managed Companies awards program at an awards ceremony held virtually on 23 July 2021. Thailand’s Best Managed Companies awards program recognises top privately-owned Thai companies with annual revenues over USD25 million for their organisational success as well as contribution to their industry and to the economy. 

The Thailand awards are derived from Deloitte’s global Best Managed Companies awards programs - a well-regarded international awards program that applies a proven evaluation process to assess the businesses’ quality of management in areas including strategy, capabilities and innovation, culture and commitment, as well as governance and financials. The evaluation of the Thailand awards is based on more than 25 years of observed practice from the global awards program that has been rolled out to 37 countries worldwide.

Subhasakdi Krishnamra, Country Managing Partner, Deloitte Thailand, said: “Congratulations to the winning companies. The inclusion of these companies on this year’s winners’ list as well as their contributions to communities, industries and the Thai economy should make them extremely proud. Awarding Best Managed Companies Thailand is a rigorous process and we are pleased to celebrate the achievements of our inaugural winners.”

Companies who are eligible for this awards program are shortlisted and undergo a rigorous and independent process that evaluates their management skills and practices. This includes having their business strategy and operations analysed and benchmarked against an evaluation framework that is applied to the 1000-strong community of best managed private companies across the world. Business leaders then use the process to sharpen strategies and derive valuable insights to help them set projections to optimise business growth.

Thavee Thaveesangsakulthai, Best Managed Companies Leader, Deloitte Thailand said: “We were impressed by the way the companies participated in these awards wholeheartedly and embraced the process. Their management teams demonstrated an eagerness to learn from other great companies as well as grit and determination to stay competitive during challenging economic times.”

Despite the extended nationwide lockdown due to the global pandemic, the winners continued to tweak their business models, making advancements in technology adoption to adapt to the changing preferences of consumers. Their ability to innovate and remain agile has kept them at the forefront of their respective industries.

Vasit Taepaisitphongse, Chief Executive Officer and President of Betagro Group said “Better Pharma Co., Ltd., subsidiary of Betagro Group, is one of the leading veterinary medicine and animal supplement manufacturers in Thailand working at world-class level to deliver good quality products to the global market. Our purpose is to help people and their communities achieve better quality of life through better quality, more safe and fair priced food, with the belief this will be a foundation for sustainable life. Therefore, we dedicate to provide high quality of animal pharmaceutical and supplementary for the good health of animal, which is also safe for human.  Hence, on behalf of Better Pharma, I am very proud to receive this award, which derived from all collaboratively hardworking of Better Pharma Team in order to achieve company’s purpose.  This award will certainly encourage and motivate us to continuously develop the organisation to best serve our customers.

Sathien Setthasit, Chief Executive Officer of Carabao Group Public Company Limited said “As a CEO of Carabao Group Public Company Limited, I am extremely honoured to be recognised as one of Deloitte Thailand’s Best Managed Companies 2021. This award reflects our purpose “Worldclass product, Worldclass brand” and our determination to becoming a global organisation.”  

Veeratham Setthasit, Chief Executive Officer of C.J. Express Group Company Limited said “Receiving Thailand’s Best Managed Company award from Deloitte confirms that the new generations have the power to move our company forward and in the right directions.  I accept this award on behalf of all the staff and management of CJ Express Group that have been working together through challenges over the years”

Wiroj Tanatchasai, Chief Executive Officer of Shera Public Company Limited said, “The project and the lab allows us to illustrate existing management processes and benchmark with international standard, so it reflects our corporation health while obtaining the reward ensures that our corporate governance is right in all aspects and that helps increasing confidence for all stakeholders, regulators, and prospective partners.”

Jaraspon Rujirasopon, Co- Chief Executive Officer of S.Khonkaen Foods Public Company Limited said, “We are proud to be an inaugural winner of Thailand’s Best Managed Companies award. The award assures us our business model is sound and affirms our position as a leading food manufacturer and distributor of Thai food products both domestically and on a world scale. We appreciate our hard-working team and are committed to providing quality products to our customers and value for our stakeholders.” 

Dr. Araya Kongsoonthorn, Chief Executive Officer of WICE Logistics Public Company Limited said, “I am very delighted and proud that WICE Logistics is one of the winners of Thailand’s Best Managed Companies. This success is from the collaboration and drive of the management team, all crews, and the new generation of executives. Thank you everyone for participating. The big challenge for WICE is that we want to grow steadily and sustainably while operating our businesses with honesty and integrity. We want to shift from a good company to great company. We believe that winning one of the Thailand’s Best Managed Companies 2021 awards is a crucial steppingstone that will lead WICE to further greatness in the future.” 

An independent judging panel comprising business and academia representatives determined the winners based on the leading practices of Best Managed Companies. This year’s jury members are Krittinee Nuttavuthisit, Associate Professor of Sasin Graduate Institute of Business Administration of Chulalongkorn University; Darutsakorn Wisootthisin, Assistant Secretary General of Thai Bankers’ Association; and Orawan Hoichan, Managing Editor at Forbes Thailand.

Note to Editors:  Although the winners are listed companies, the term ‘private enterprise’ is used because the majority share of the company is still held privately either directly or indirectly. This is how we qualify a company’s eligibility for Deloitte’s Best Managed Companies program.

About Thailand’s Best Managed Companies program

The Best Managed Companies program is an awards program recognising privately held companies for their organisational success and achievement. The program provides a distinct framework for management teams to challenge themselves and benchmark against some of the best private companies in the world. 

The Best Managed Companies program was established in 1993 in Canada and has become the most significant business awards of its kind. The program is currently active in the Americas, Europe, Australia, China, Taiwan, India and in Southeast Asia.

For more information on the Best Managed Companies program, click here.

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