Thursday, April 15, 2021

CEOs: Covid-19 impact more severe than Tom Yam Kung crisis

Apr 13. 2020
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By THE NATION

In newspaper survey, chief execs talk about life after pandemic

A number of chief executive officers have shared a common view that the Covid-19 impact is much more severe than the 1997 Asian financial crisis, also known as the Tom Yam Kung crisis, according to a recent Krungthep Thurakit newspaper survey on CEOs.

This is because the outbreak has disrupted businesses and society as well as daily life on a global scale.

Advanced Info Service chief executive officer Somchai Lertsutiwong said that all Thailand could do is to only prevent the situation from worsening, while Covid-19 measures by themselves cannot bring the problem to an effective end. The only real solution is a vaccine, he pointed out.

He believes that after the crisis, more and more businesses will embrace the online business format.

Kasikornbank’s chairman emeritus Banthoon Lamsam questioned whether Thais would return to their offices as usual after the crisis ends or whether they would need to seek new innovative ways of working.

Banthoon, who was KBank board chairman, added that Thais need to seek new knowledge and carry out more research and development to enhance their competitiveness.

Loxley chief executive officer Suroj Lamsam said the outbreak has changed the ways people work and commute, which has highlighted the importance of IT infrastructure.

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