SCB and Sasin Celebrate Two Decades of “Bai Po Business Awards by Sasin” and Launch the Prestigious “Baipo Business Sustainability Awards”

          Bangkok, Thailand – Siam Commercial Bank (SCB), in collaboration with the Sasin School of Management of Chulalongkorn University, celebrated the 20^th anniversary of the “Bai Po Business Awards by Sasin” and announced a significant milestone in the award’s evolution with the launch of the prestigious “Baipo Business Sustainability Awards.” The new award reflects the strength of Thai businesses that have demonstrated resilience and growth through every challenge while placing sustainability at the heart of their long-term success.

          The event was attended by Mr. Apisak Tantivorawong, Chairman of the Board, Siam Commercial Bank; Mr. Sarut Ruttanaporn, Chief Executive Officer, Siam Commercial Bank; and Mr. Segsarn Trai-Ukos, Deputy Director of the Sasin School of Management, who jointly marked the beginning of a new era for the awards program. The ceremony also featured the presentation of the special “Bai Po Business Awards by Sasin – Champ  of the Champs” recognition to two outstanding former recipients of the Bai Po Business Awards by Sasin in recognition of their exceptional management excellence, strong corporate governance, and ability to maintain sustainable growth under all circumstances. The recipients were Humanica Public Company Limited and Tropicana Oil Company Limited. The event was held at the Siam Kempinski Hotel Bangkok. 

          As part of the celebration, an exclusive seminar titled “The All-Weather Business: Building Resilience for Success in Every Situation” was organized, featuring distinguished keynote speakers Dr. Kongkrapan Intarajang, Chief Executive Officer and President of PTT Public Company Limited, and Ms. Jareeporn Jarukornsakul, Chairman of the Executive Committee and Group Chief Executive Officer of WHA Corporation Public Company Limited. The speakers shared their perspectives, experiences, and vision for Thailand’s economic future through the lens of leaders with a deep understanding of global capital flows, industrial transformation, and energy markets. Drawing on their extensive expertise and real-world insights, they highlighted strategies for building distinctive, difficult-to-replicate competitive advantages that can drive long-term business success. The session inspired participating entrepreneurs to strengthen organizational resilience and cultivate the agility needed to navigate future challenges, adapt to disruption, and thrive in an increasingly complex business landscape.

          Over the past two decades, the Bai Po Business Awards by Sasin has served as a national platform dedicated to identifying and honoring outstanding small and medium-sized enterprises (SMEs) capable of creating meaningful differentiation in their businesses. The award has recognized entrepreneurs distinguished by management excellence, creativity, and adaptability to global change—qualities that have enabled businesses to navigate economic crises and achieve sustainable growth. To date, a total of 105 companies have received the award.

Sustainability as the New Business Standard

           Mr. Apisak Tantivorawong, Chairman of of the Board, Siam Commercial Bank, said: “The Bai Po Business Awards by Sasin is not merely a symbol of success for award recipients. It also represents a vision and capability that prove sustainability is not just a concept, but a practical business approach. These companies have demonstrated leadership by setting new standards.

           We commend all 105 award-winning companies for their perseverance and resilience. They have continued to achieve strong business performance despite obstacles arising from an ever-changing business environment. Over the years, they have navigated a wide range of challenges, from the Subprime Mortgage Crisis and the COVID-19 pandemic to geopolitical conflicts that have caused economic volatility. They have also had to adapt to new global trade rules and expectations, such as ESG standards and rapid technological transformation. Businesses should learn continuously, adapt quickly, and turn change into opportunity. We must not only survive but also shape the future direction of our industries.”

           He added that while the award has served as a hallmark of business excellence and resilience for the past two decades, evolving global expectations call for a new framework for success. The transition to the prestigious Baipo Business Sustainability Awards marks a significant step forward, setting a new benchmark for business sustainability. SCB hopes that the award will serve as a catalyst for strengthening the capabilities and competitiveness of Thai enterprises, ultimately accelerating Thailand’s journey toward sustainable transformation and long-term growth.

Supporting Thai SMEs for Sustainable Growth

           Mr. Sarut Ruttanaporn, Chief Executive Officer of Siam Commercial Bank, highlighted the impact of the awards program over the past twenty years.“Since the launch of the program, 105 companies have been recognized, creating a network of exemplary Thai businesses. Among them, 19 companies have successfully listed on the mai and SET stock exchanges. Despite numerous challenges, these businesses have continued to move forward with determination.”

           He emphasized SCB’s commitment to empowering entrepreneurs through knowledge enhancement programs, seminars, capabilities development in AI, e-commerce, and ESG standards, as well as providing access to in-depth advisory services and sustainable financing solutions that help businesses reduce long-term costs and strengthen their competitiveness.

           The Bai Po Business Awards by Sasin represents more than business achievement. It serves as a seal of credibility, resilience, and sustainability that strengthens trust among customers, business partners, employees, and society for decades to come.

           Marking the 20th anniversary of the Bai Po Business Awards by Sasin, SCB and Sasin hosted “Two Decades of the Bai Po Business Awards by Sasin,” a milestone gathering that reunited award recipients from all generations, providing a platform for networking, sharing experiences, and forging new partnerships. The reunion provided a platform for participants to exchange experiences and gain exclusive insights from Thailand’s leading energy and logistics executives. It also created opportunities for entrepreneurs to build strong business networks and partnerships, collaborate on new opportunities, and lay the foundations for future business ventures that will drive Thai SMEs toward sustainable success in the decade ahead. 

           Mr. Ruttanaporn added, “SCB believes that the key to resilience in any situation lies in the ability to support one another and grow together across the entire ecosystem. At SCB, our role extends far beyond presenting awards. We are committed to supporting the sustained growth and long-term success of Thai entrepreneurs. SMEs are a critical driving force behind Thailand’s economic and social stability. By empowering SMEs to succeed, we are helping create sustainable economic and social stability for the country.”

“Champ of the Champs” Award Recipients

          On this occasion, a special “Bai Po Business Awards by Sasin – Champ of the Champs” distinction was conferred on two former Bai Po Business Awards by Sasin recipients. The award recognizes organizations that have demonstrated exceptional strength, outstanding management excellence, and strong ethical principles, while consistently maintaining their capabilities and high operational standards to achieve sustainable growth under all circumstances. The inaugural Bai Po Business Awards by Sasin – Champ of the Champs recipients are:

• Tropicana Oil Company Limited
  A leading producer of cold-pressed coconut oil products under the Tropicana Oil brand, covering skincare, haircare, and dietary supplements that meet global standards. The company is recognized for its commitment to sustainable growth throughout the value chain, from supporting farmers and local communities to delivering world-class products.
   
• Humanica Public Company Limited
  A leading provider of Human Resource Information System (HRIS) solutions in Southeast Asia, offering comprehensive human resource management solutions and driving the digital transformation of Thai businesses.

Introducing the Baipo Business Sustainability Awards

          Marking this milestone 20^th anniversary, SCB and Sasin officially introduced the next chapter of the awards program with the launch of the “Baipo Business Sustainability Awards.

          The award enhancement reflects the belief that sustainability is no longer an option but a fundamental requirement for business growth. The new name does not replace or diminish the value of the original award but expands its meaning to better align with the realities and expectations of today’s and tomorrow’s business environment.

The Baipo Business Sustainability Awards is now open to visionary Thai entrepreneurs committed to building sustainable organizations. Eligible companies will be evaluated in two categories: 

• Businesses with annual revenue between THB 75–500 million
• Businesses with annual revenue between THB 500 million–5 billion

          The new assessment framework evaluates businesses across three dimensions and six key areas. The Internal Organization dimension assesses innovation in products and services, corporate management, and human resource management. The Customer dimension focuses on marketing development as well as customer care. The Stakeholder dimension examines how businesses drive sustainability and create positive impacts for business partners, customers, employees, society, and the environment.

Applications Open

          Thai entrepreneurs interested in showcasing their business capabilities, or individuals wishing to nominate outstanding businesses for consideration, may submit applications or nominations from now until September 15, 2026.The first Baipo Business Sustainability Awards winners will be announced and honored in the first quarter of 2027.

          For more information and application forms, please visit: www.scb.co.th/th/baipo-business-awards, or contact the Sasin Management Consulting project team atTel: +66 (0)2 218 4019 Email: consulting@sasin.edu