Three decades of operations have seen Thailand’s Premier Group develop into one of the country’s most dynamic and diversified conglomerates. Following intensive restructuring, the company has re-emerged as a strong and respected company throughout the Thai business community. The group’s activities range from consumer goods (food, electronics, and retail) to distribution and property development. In 2003, Premier is ready to continue living up to its name as one of Thailand’s foremost companies.

The Asian crisis brought in challenging times for the Premier Group. The company responded with creativity and new ideas, consolidating its operations in the process. Vichien Phongsathorn, its president and CEO, explains: “We decided to focus on our core competencies. Even during the crisis, we invested heavily in improving the flow of information within the company and the implementation of “e-business.” This gave us a new channel of communication and distribution to help us to be more efficient in providing better services to our partners. Our distributors and agents now have a faster turnaround time and more information at their fingertips.”

Vichien Phongsathorn, president and CEO of Premier Group

As Premier focuses its efforts on restructuring and recapitalization, information exchange and strategic planning will be the catalysts to ensure the company grows at a faster pace. Phongsathorn also sees further investment in research and development to ensure continued improvement in the quality of Premier’s various products.

“Over the course of the next two years, we are going to continue to focus on fueling the growth of our company. The company’s best assets, and the key to our survival, are our people. They ensure the continued growth of the company,” declares Phongsathorn, conveying the importance he places on Premier’s more than 9,000 employees.

This commitment to people extends beyond the company. The Premier group believes that corporations have a responsibility to contribute to the society in which they do business. In Thailand, the company is regarded as one of the country’s best corporate citizens, always looking for opportunities to improve the lives of the Thai people.

Putting this philosophy into action, Premier established the Yuvabahana Foundation. An independent non-profit organization, the foundation was set up to provide education to underprivileged Thai children. “The hope of Thailand lies in its youth,” says Phongsathorn, “and educating children is vital to giving them a promising future.”

The future, meanwhile, holds many challenges for the group itself. Phongsathorn admits that as businesses becomes more international, domestic and international brand marketing, communication networks and market strategies will play an increasingly important role in the global corporate world.

“Things change all the time. In order to survive, the key is to emphasize brand equity for the long term,” he stresses. “We need to establish good and extended relations with our customer base and partners. We also need to balance our export and domestic markets so that we are not too dependent on one or the other.”

One such export market that has played a major role in Premier’s operations is the Japanese market. Phongsathorn is both grateful and proud of the enduring collaboration: “Our strongest partnership is with the Japanese. They have been very good to us.”

Within Asia and beyond, Thailand must now assess what steps need to be taken to ensure growth targets are fully attained. Phongsathorn is confident the country is well on its way to achieving its full potential.

“As a place to invest, I think Thailand has proven itself to a good degree,” he concludes. “Our geography, culture and stability are ideal. The workforce is excellent and is getting better by learning to improve on discipline. We are flexible and have the right ingredients. The key is to continue to put those ingredients together in the right way.”

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