Carabao Group and CJ Express Group recognized in Deloitte’s prestigious Thailand’s Best Managed Companies 2021 Awards

Carabao Group Public Company Limited and CJ Express Group Company Limited have won awards from Thailand’s Best Managed Companies 2021, the inaugural award program by Deloitte in Thailand. The award ceremony, which was held virtually via online channels, recognizes top privately-owned Thai companies with annual revenues over USD25 million for their organizational success as well as their contribution to industry and to the economy.

The Thai 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 financial management. The evaluation of the Thai 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.

The inaugural winners include Carabao Group Public Company Limited for Food and Beverage industry sector; Better Pharma Company Limited for the Industrial Products sector; CJ Express Group Company Limited for the Grocery and Convenience Store industry sector; Shera Public Limited for the Engineering and Construction industry sector; S.Khonkaen Foods Public Company Limited for the Food and Beverage industry sector and WICE Logistics Public Company Limited for the Transportation industry sector.

Mr. Sathien Setthasit, Chief Executive Officer of Carabao Group Public Company Limited, said that the Thailand’s Best Managed Companies 2021 award reflects the firm’s vision of “World class product, World class brand” and the determination to become a global organization.

Mr. Veeratham Setthasit, Chief Executive Officer of C.J. Express Group Company Limited,  said that receiving Thailand’s Best Managed Company award from Deloitte confirms that the new generation have the power to move the company forward and in the right direction.  He accepts this award on behalf of all the staff and management of CJ Express Group that have been working together through many challenges over the years.

Carabao Group Public Company Limited was established on 8 July 2014 and became a listed company on the Stock Exchange of Thailand on 21 November 2014. The company launched their energy drink, its first product, under the Carabao Dang trademark, onto the Thai market on 28 October 2002.

Throughout the operation, since its inception, Carabao Group has expanded gradually and steadily. Its business covers the procurement of main ingredients, manufacturing, marketing and distribution of energy dinks and other beverages, as well as manufacturing glass bottles and aluminum cans for packaging factories. Carabao Group also manages and oversees distribution through participating store networks and business partners both locally and internationally under the vision of World Class Product, World Class Brand.

CJ Express Group operates a new model of retail shops that offers comprehensive consumer packaged goods at affordable prices under the management of PSD Rakthai Company Limited, founded on 4 January 2005. The enterprise then changed its name to CJ Express Group Company Limited on 1 August 2013.

Throughout 15 years of operation, CJ Express Group Company Limited has grown exponentially, especially with the 2020 launch of the new business CJ MORE under the concept More Than Anyone, More Than a Supermarket to distinguish itself from competitors. The CJ MORE flagship store was launched on Silom Road to become the blueprint for the future expansion of CJ MORE. The venture is driving forward and developing its own retail brand to better cater to its customer segments, with a future plan to become a listed company.

An independent judging panel comprising of 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.

The contenders in the award program were evaluated for their skills and management direction, which included strategic analysis, business analysis and comparison with the same business evaluation framework used with 1,000 best private enterprises around the globe. Business owners can implement the knowledge, direction and know-how from the program to their own strategies and planning in order to further improve their ventures.