Figures worth more than looks
Since its establishment about 10 years ago, Thai Tap Water (TTW) has flourished with strong financial performance. Synonymous with the growth story is Sompodh Sripoom, who has been the company's managing director for years.
With his easy-going style, the former military man has been voted one of the most friendly among listed companies’ executives. Reporters never felt that he withheld information, as the not-meant-to-go-public information is well hidden in his poker face.
When he faces a hard question, he resorts to a joke. He is ready to indulge in small talk, something that is hard to find in executives of firms equalling the performance of TTW. The company’s assets had grown briskly to Bt24.7 billion as of June. In the first half, revenue grew 16 per cent year on year to Bt3 billion, while net profit rose 21 per cent to Bt1.4 billion.
Born in a small village in Suphan Buri, Sompodh considers himself a very lucky country boy to have come this far. He never looks down on others. That explains why he is so pleased to chat with reporters on any subject. That also happens with his subordinates. That tells a lot about why he agreed to some photos for distribution to the press. He posed as if he were a model, not a top executive. It is strange given that most executives pose with their big desks, sitting or standing in stiff positions. For Sompodh, each year, the postures change (see the photos). Attached with e-mails containing the company’s financial performance, the photos bring smiles.
Sompodh obviously doesn’t care what others think of him. He seems sure that no matter how he looks, shareholders will pay attention to what’s in his head – in a world where numbers matter most.
DEDICATION HAS ITS REWARDS
TMB Bank chief executive officer Boontuck Wungcharoen is known to be focused and dedicated.
From the day that he left Kasikornbank for this smaller bank, he had a goal to turn TMB around. The reward came with the second-quarter financial performance of the banking sector.
Boontuck was not happy with TMB’s net profit. The seventh-largest bank’s earnings for the second quarter plunged by 83 per cent year on year to Bt251 million because of large extra loan-loss provisions.
But he was happy with the improvement in loan quality. When he saw the results of all the banks, Boontuck said he was relieved that TMB was no longer the bank with the highest rate of non-performing loans. Its NPL rate as of June fell to 3.7 per cent of outstanding loans against 4.1 per cent at the end of 2012.
The bank will soon come under a shareholder restructuring, as ING Bank – which holds 26 per cent – plans to sell its stake, so Boontuck apparently has his place secured.
