“CHANGE for Future of Thailand 4.0” adopted by new PTT top executive

BANGKOK, September 11 (TNA) - PTT Public Company Limited (PTT), Thailand's largest petroleum firm, is now moving towards the “CHANGE for Future of Thailand 4.0” that complies with the government's Thailand 4.0 Policy. New PTT President and Chief Executive Officer (CEO) Chansin Treenuchagron announced the policy in Bangkok on September 10, after taking his new office as of August 31, 2018. Chansin, the first PTT top executive who is a graduate from the Faculty of Economics, Thammasat University, Thailand's second oldest university, not from the Faculty of Engineering as all other previous PTT President and CEO, said that any specific faculty or higher educational institute has nothing to do with his work at PTT, where the "team work" concept under the traditional strategic norms has been sustained. Chansin stressed, however, that he is further improving PTT in order to keep pace with global updates and challenges through the “CHANGE for Future of Thailand 4.0” policy, aimed to practically handle the present disruptive technology era, in which an innovation can help create a new market and a value network and can eventually disrupt an existing market and value network, as well as displace established leading firms, products or alliances. To practically deal with the present disruptive technology period, Chansin explained, PTT now focuses more on artificial intelligence (AI) and digital plans, particularly at the Thai government-supported Eastern Economic Corridor of Innovation (EECi), under which more investment funds will be injected in alternative energy, rather than fossil-based sources, energy storage, electric value chain and bio-agricultural projects. Besides, PTT will join forces with business partners to take part in such a mega-investment project as a new high speed train system that, once opened for public services, will connect the Don Mueang International Airport in Bangkok, the Suvarnabhumi International Airport on the outskirts of the capital and the U-Tapao International Airport in the eastern Rayong Province together. For the "CHANGE for Future of Thailand 4.0” policy, the new PTT top executive stated that it comprises of six elements, including "continuity", in which the 3Ds-strategy, namely Do now, Decide now and Design now, will be carried on and "honesty", in which all executives and other staff members are strictly obliged to integrity and justice by, for instance, prioritizing the interest of stakeholders fairly. Other elements indicated by the new PTT top executive include "alignment", in which his company will expand cooperation with other firms for the corporate security and sustainability, while also extending its opportunities of business growth to the society; "new innovation solution", in which new S-Curve innovative and potential projects will be launched; "good governance", in which honest, fair, transparent and accountable practices and regulations will be observed; and "excellence team work", in which new generations of personnel who drive ahead the team work concept well with integrated potential and courage to handle the global changing situation and emerging challenges will be developed. According to the new PTT president and CEO, his company is not only adhering to the good governance practice to become a role model of other firms in Thailand and to be part of a mechanism driving towards the national goals stated in the government's ongoing 20-year development strategy, but also emphasizing on its balanced "3Ps" stance on taking care of people and their environment and natural resources in parallel with running businesses, becoming a firm and sustainable planet for the national socio-economy and bringing prosperity and happiness to the nation and people in the long run. In response to public comments on PTT, the new PTT president and CEO noted that he, himself, respects all constitutional opinions and facts as long as they are no hatred, violence or the violation of freedom and rights of other people involved. (TNA)