TPI Polene Public Company Limited, graced the cover of World’s Leaders Magazine as one of the Worlds Best Companies to Work for 2024. Prachai Leophairatana serves as the CEO of TPI Polene Public.
Keppel Ltd. 1Q 2024 Business Update Presentation Slides
World’s Best Companies to Work for in 2024
1. www.worldsleaders.com
World’s
Best
Companies to Work for
2024
A Revolutionary Leader in
the Insurance Industry
A Visionary Financial
Professional with a Passion
for Client Service
PG. 40
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Vol. 02 | Issue 06 | February 2024
2.
3.
4. World’s Best Companies to
Work for 2024
Establishing a "people-culture" is one of the most
important aspects of developing a long-lasting company.
Workers are more likely to stick with an organization
that values their welfare. In a similar vein, companies
that embrace an employee-centric culture stand to gain a
lower attrition rate. Consequently, both benefit.
Employers who take a proactive approach to employee
well-being will see their company catalyze
unprecedented growth and creativity. A great workplace
is one that is prepared to make investments in its
workers' growth and training. These businesses set aside
time to develop the skills and competencies of their
employees. They encourage staff members to take part in
numerous skill- and career-development initiatives.
Companies might invest in employee development
programs for a variety of reasons, but in the end, these
initiatives guarantee that their workforces are the best
available. Employees that are competent and well-trained
are better equipped to serve the company's clients.
World's Leaders latest edition “World's Best Companies
to Work for 2024” has featured leading companies
which are changing workplace environment and
encouraging others to do the same. The cover features
TPI Polene Group, a diverse industrial conglomerate
consisting of over 20 subsidiaries engaged in various
sectors, including petrochemicals and chemicals,
construction materials, renewable energy, and bio-green
agricultural products like fertilizers, growth hormones,
soil enhancers, and health care products. The group is
committed to innovation in both product development
and manufacturing processes, aligning with principles of
the bio-circular-green economy and environmental,
social, and governance (ESG) standards. Their motto,
"We Build the Future," reflects its dedication to leaving a
positive impact on the world. The group's history dates
back to 1978 when it started producing plastic polymers
and later became the first company to establish a fully-
integrated petrochemical plant in Southeast Asia. Today,
the Group holds the distinction of being the largest
single-location producer of high-value added (HVA)
EVA polymer in Southeast Asia, a versatile material used
in various industries, including manufacturing,
hotmelts/adhesives, and photovoltaic (PV) applications.
In this special edition, let us share similar, interviews
with many such dedicated organizations in order to raise
awareness about their contributions to making the world
a better place.
Creating a People Centric
Work Environment
Have a lovely read!
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Editor-in-Chief Steve Sanchez
Managing Editor Jagdish Chincholikar
Executive Editor Nicole Williams
Assistant Editor Gayatri Bhujbal
Art & Design Director Jack Anderson
Business Development Manager Mary Jane
Business Development Executive Natalie, Shivangi
Associate Designer Kevin Rust
Digital Marketing Manager Victor Clarke
Sales Manager Casey Simpson, Irfan Shekh
Marketing Manager Tom Swann
Technical Specialist Barry Jones
Circulation Manager Danny Parker
CREDIT PAGE
February 2024
11. TPI Polene Group is a diverse
industrial conglomerate consisting of
over 20 subsidiaries engaged in
various sectors, including
petrochemicals and chemicals,
construction materials, renewable
energy, and bio-green agricultural
products like fertilizers, growth
hormones, soil enhancers, and health
care products. The group is
committed to innovation in both
product development and
manufacturing processes, aligning
with principles of the bio-circular-
green economy and environmental,
social, and governance (ESG)
standards. Their motto, "We Build
the Future," reflects its dedication to
leaving a positive impact on the
world. The group's history dates back
to 1978 when it started producing
plastic polymers and later became the
first company to establish a fully-
integrated petrochemical plant in
Southeast Asia. Today, the Group
holds the distinction of being the
largest single-location producer of
high-value added (HVA) EVA
polymer in Southeast Asia, a
versatile material used in various
industries, including manufacturing,
hotmelts/adhesives, and photovoltaic
(PV) applications.
Over the years, TPI Polene Group
has diversified its portfolio from
petrochemical industry to cement
production and building materials. It
has also ventured into renewable
power generation through waste-to-
energy (WTE) processes, primarily
using municipal solid waste (MSW)
as a resource. Additionally, the
company has delved into the creation
of bio-organic products for
agricultural applications, contributing
to sustainable agriculture practices in
Thailand.
The group's vision is firmly grounded
in sustainable growth, guided by the
principles of a bio-circular green
(BCG) economy. To achieve this, TPI
Polene Group places a strong
emphasis on research and
development, harnessing the
expertise of more than 500 scientists
and engineers. The company
continually refines its processes to
enhance efficiency, reducing its
worldsleaders.com | 11
12. carbon and environmental footprint,
and expanding its product offerings,
which now encompass a diverse
range of 5,000 SKUs to meet the
needs of its customers.
TPI Polene Group's tagline, "we
build the future," encapsulates its
commitment to delivering top-tier,
world-class products in construction
materials, adhesive and PV polymers,
and bio-organic agricultural products.
Simultaneously, the company is
actively building power capacities
that utilize MSW as fuel,
contributing to addressing Thailand's
sustainable “Zero Carbon” policy,
following COP28 agreement.
Certifying Commitment
At the close of 2022, TPI Polene
Group's power plants, operated by its
subsidiary TPI Polene Power
(TPIPP), achieved an impressive
milestone by accumulating 5.8
million tons of CO2 equivalent
credits. These credits have been
calculated internally and represent a
substantial environmental
achievement. The company is
actively working on having these
credits certified by the government-
sponsored accreditation body known
as T-VER. As of now, they have
obtained 1.22 million T-VER credits.
In parallel with these efforts, TPI
Polene Group is focused on
certifying its renewable energy
capacity. By the end of 2022, they
had amassed a total of 1.45 million I-
REC (International Renewable
Energy Certificate) credits. While
these credits do not currently have
monetary value, they serve as a
tangible representation of the
company's ongoing commitment to
sustainability and the bio-circular
green (BCG) economy. These credits
can potentially become a valuable
asset once the carbon market
becomes active in Thailand.
In April 2023, the company
completed the retrofitting of its
70MW hybrid municipal solid waste
(MSW)-coal power plant,
transitioning it to run solely on 100%
MSW. Furthermore, they embarked
on the challenging task of converting
their 150MW coal-fired power plant
into one that operates on 100%
waste-to-energy (WTE) MSW. This
conversion project is divided into
12 | February 2024
14. three phases and is scheduled to be completed by the end
of 2025. The ambitious goal is for TPIPP to become
fossil-free by 2026, with the capacity to process waste
equivalent to 12 million tons of CO2 according to their
internal calculations. With 250MW of WTE-MSW
power capacity, TPIPP currently stands as the largest
privately-owned operator of MSW-fired power plants in
Thailand and Southeast Asia.
Recognizing the environmental impact of cement
production, TPI Polene Group is actively pursuing
measures to "green" its cement and building products.
While this transformation is expected to take time and
involve multiple technological components, the company
has initiated significant efforts:
Substituting Coal with MSW: The company is
reducing the carbon footprint associated with clinker
production by substituting coal with waste-to-energy
municipal solid waste (WTE-MSW). By the end of 2022,
it completed a three-year project allowing for the 25%
substitution of coal with MSW.
Renewable Energy: TPI Polene Group is actively
investing in renewable energy sources to power its
cement plants. The Group is constructing three solar
projects and a wind turbine power plant adjacent to its
cement plant facilities. By 2025, nearly 100% of the
power used by its cement plants will be sourced from
renewable capacity.
Efficiency and Waste Reduction: To further mitigate
greenhouse gas emissions and enhance efficiency, the
company has implemented several projects. These
include the installation of a conveyor belt from the
quarry to the cement production facility to reduce dust
and save diesel costs, the conversion of quarry trucks
into electric vehicles (EVs), and the installation of a
plant to process quarry by-products, resulting in zero
waste industrial complex.
Through these initiatives, TPI Polene Group is actively
contributing to reducing its environmental impact and
advancing sustainability in the cement and building
materials sector.
Powering Progress
The diversification into renewable power production
marked a significant step forward for TPI Polene Group
and was a natural extension of its innovative approach to
waste heat recovery from the clinker/cement
manufacturing process. The company has made
substantial progress in this area, boasting a 40 MW
capacity for waste heat power generation. Furthermore,
with ongoing expansion efforts, it has added 250 MW
waste-to-energy municipal solid waste (WTE-MSW)
fired power plants as of April 2023.
This move into renewable energy production has brought
about multiple tangible benefits for the group:
Ÿ Impressive EBITDA Margins: The group's business
has consistently maintained a strong EBITDA margin
over the last eight quarters, with a range of 45-55%.
For more detailed financial data, one can refer to the
SET (Stock Exchange of Thailand) filings of TPI
Polene Power (TPIPP).
Ÿ Resilience Against Rising Coal Prices: Despite the
historically high coal prices experienced in 2021-
2022, the group was able to sustain a high EBITDA
margin, thanks in part to the substitution of coal with
WTE-MSW.
Ÿ Green Cement & Building Products: By partially
replacing coal with MSW in the clinker production
process, the group achieved cost savings and the
ability to produce Green Cement & Building
Products. These products align with government
initiatives promoting sustainable construction
materials and contribute to the country's climate
goals. The launch of Green Cement & Building
Products took place on June 1, 2023.
Ÿ Garbage Management and Community Benefits: TPI
Polene Group's garbage processing efforts have
helped local communities address the growing issue
of cleaning up landfills and Thailand to achieve
national 'zero carbon emission” commitment to the
world.
14 | February 2024
15.
16. These tangible benefits underscore
the strategic importance of
diversifying into renewable energy
and waste-to-energy solutions, which
not only enhance the company's
sustainability but also contribute
positively to its financial
performance and the well-being of
the communities it serves, and the
world overall.
Towards a Greener Future
TPI Polene Group has set ambitious
sustainability goals, with a
commitment to achieving net-zero
status by 2030. To realize these
objectives, the company has
established a comprehensive
Sustainability Ecosystem for its
production facilities.
In the medium term, the group has
outlined several key objectives:
Ÿ Increase production of Green
Cement & Building Products and
introduce more environmentally-
friendly, innovative building
materials
Ÿ Complete the plant modification
program and power capacity
expansion projects on time and on
budget as well as complete the
switch to EV not only the quarry
dump trucks but for the trucks
used logistics as well as other
renewable power supply
Ÿ Continued R&D to move even to
a higher HVA level for the group's
specialty polymer
Ÿ More R&D to expand the range
of applications of the group's bio-
organic compounds in agriculture
and healthcare
Ÿ Leveraging on our IP in waste
processing, seek-out investment
opportunities in the Asian region
in technical collaboration(s) but
preferably as an investor(s)
Drive for Plant Efficiency and Cost
Reduction
The rate growth in the demand for
construction materials in Thailand
has reached maturation and with it
16 | February 2024
17. comes the intensifying competitive
landscape. TPI Polene Group's main
coping mechanism is by continuously
improving plant efficiency and reducing
per unit production cost. Strong in-
house R&D capability is very crucial to
the sustainability of its strong cashflow
generation as well as market position
not only by offering competitive but by
introducing new products as well.
Vision for Business and Society
TPI Polene Group's philosophy centers
on optimization of business growth and
societal progress for the benefits of all
stakeholders as well as the world
communities. This commitment is
evident through various initiatives and
funds aimed at public health,
occupational safety, and environmental
conservation. The company's ESG
activities extend beyond financial
contributions and include projects like
installing community drinking water
machines and supporting local
communities by adding value to
municipal solid waste (MSW),
particularly in Thailand's central region.
During the peak of the COVID-19
pandemic, TPI Polene Power (TPIPP)
leveraged its advanced waste handling
capabilities and became the first private
company granted a license to process
COVID-19 waste, contributing to public
health efforts.
worldsleaders.com | 17
20. Executive coaching is a valuable investment for any
business leader who wants to enhance their performance,
improve their leadership skills, and achieve their goals.
Executive coaching can help leaders develop a wide
range of skills, including strategic thinking, effective
communication, conflict resolution, and decision-
making. By honing these skills, leaders can better guide
their teams and organizations to success.
Brad Sugars, Founder, Chairman, and President of
ActionCOACH, boasts more than 30 years of business
experience and strongly advocates for the notion that a
company should be able to operate successfully without
the constant involvement of its owners, allowing them to
spend time with their families or pursue their desired
lifestyles. His multi-million-dollar franchise,
ActionCOACH, operates in over 70 countries and
employs more than 1,000 coaches who work with more
than 15,000 businesses each week. Sugars is deeply
committed to supporting entrepreneurs and enabling
them to learn and grow from both his triumphs and
setbacks.
Brad came from modest beginnings in Brisbane,
Australia. While he was a university student, Sugars
managed a number of small businesses. As his talents
became more widely recognized, many business owners
and executives began requesting that he share his
knowledge on topics such as team development,
marketing, and sales by speaking to their organizations.
Jim Rohn has had the greatest professional impact on
Brad Sugars' life, as nobody else has. When Brad was a
teenager, he managed to save up his allowance in order
to attend one of Rohn's seminars, where he was the
youngest member of the audience. What he learned from
Rohn during that seminar has influenced his business
practices and beliefs throughout his life.
Coaching as Business Leaders
The key driving force to join this
sector for Brad was realizing the
missing component between
knowledge and implementation
was to coach business owners
rather than just give them the
information and let them figure
out what to do with it. He wanted
business owners to put what they
learned to practice. Not being able
to meet the high demands he
concluded that coaching was the
way to go for business owners who
wanted to take the next step in
their businesses. Taking Reach to Globally
Brad Sugars' mission in business
coaching is to empower business
owners with the tools and
strategies they need to transform
their lives and positively impact
their communities, while also
affording the lifestyles they have
always desired. His vision for
ActionCOACH is to expand its
reach globally and operate in over
120 nations in the upcoming years.
Sugars is committed to sharing the
knowledge he has acquired over
the years, believing that it can
guide and support entrepreneurs
worldwide in achieving their goals
with his help and lessons.
20 | February 2024
22. DYCHTWALD, PhD
KEN
A Thought Leader with a
Focus on the Business
Opportunities and Social
Effects of Global Aging and
Rising Longevity
22 | February 2024
28. A Comprehensive Suite of Services
Exlnt Communications stands as the communication partner of choice
for numerous brands covering a wide array of industries. With a rich
portfolio that includes banking, real estate, FMCGs, information
technology, telecommunications, retail, e-commerce, consumer
electronics, industrial processes and manufacturing, energy, medical
technology, automotive, tourism, and travel, Exlnt has become a
pivotal force in orchestrating PR strategies for over 20 years.
Dina and Nermine emphasise that Exlnt Communication's 360-degree
product offerings cater to diverse business models and sectors. The
agency provides a comprehensive suite of services, including Public
and Government Relations, Advertising and BTL (Below the Line),
Branding, Reporting, Digital Marketing, and Media Buying. This
holistic approach forms a 360-degree marketing strategy for each
campaign, ensuring that clients' brands stand out and leave a lasting
impact on their target audience.
Exlnt Communications, formerly
Excellent Communications D&N, was
founded in 2003 by the dynamic duo
Dina Abdel Fattah and Nermine Abdel
Fattah. The two sisters, leveraging their
combined resources, networks, and
expertise acquired over two decades,
embarked on a mission to provide
comprehensive communication services.
Their vision was clear: To merge
exceptional expertise with 360-degree
communication services, fostering
enduring partnerships that deliver
significant value to their clients.
The inspiration behind Exlnt
Communications emerged from Nermine
and Dina's admiration for the incredible
talents she observed in her homeland.
After witnessing remarkable
achievements despite modest PR
strategies to build a public image, they
felt compelled to contribute. They aimed
to establish a PR agency that offered
strategic communication counsel,
elevated brand awareness and managed
public photos to spotlight the journeys
and accomplishments of these inspiring
brands. This vision propelled Exlnt
Communications to become a leading PR
company dedicated to crafting brand
messages that effectively reach their
intended audience.
Over the past decade, Exlnt has been a
catalyst for transforming corporate
communications and successfully
handling over 100 projects spanning
diverse business sectors. In 2020, Exlnt
Communications achieved a significant
milestone by becoming part of United
Media Services (UMS), the largest media
conglomerate in the MENA region. This
strategic move further solidified its
position in the industry, opening new
avenues for growth and collaboration.
28 | February 2024
35. After graduating with an accounting degree from the
University of Illinois and passing the CPA exam,
Danielle Solomon accepted a job at an international
accounting firm. She was intrigued by healthcare and
wondered how her efforts in public accounting might
benefit society. After 15 years in public accounting, she
took an opportunity to work for a health system where
she gained essential knowledge and extended her
horizons beyond accounting and finance to the trends,
strategies, and innovations that will drive the industry
forward. Her experience in that job led her to FORVIS
(previously BKD), where she now has the privilege to
lead FORVIS’ healthcare industry team across the
country.
When Danielle first met her colleagues at DHG (now
FORVIS), she was struck by how well the business’s
healthcare practices complemented one another and the
opportunities as a combined firm. She commented
everyone she has met from legacy DHG has been great,
and she sees a genuine passion for healthcare and a drive
to provide exceptional service to the firm’s clients
throughout the merged workforce.
Danielle asserts, “The growth potential is exponential
and that excites me—both for our clients and for our
teams and professionals. The number of opportunities
that have already surfaced as well as increased inquiries
for new engagements and activity both firms are seeing
is exciting. “She sees her work as the leader of the new
firm’s merged industry as a tremendous opportunity for
her, and she is humbled and honored to lead this bright
and committed team of 950 professionals strong.
FORVIS
Beginning June 1, BKD CPAs & Advisors and Dixon
Hughes Goodman (DHG) merged as equals to create a
Top 10 national firm now called FORVIS. The name
FORVIS—a combination of the words FORward and
VISion—reflects the firm’s unique focus on what is next.
Danielle says, “Our combined vision builds on BKD’s
and DHG’s strong foundations and legacies.”
Business today is moving faster and with greater
complexity than ever before. The past two years have
certainly shown the world that it can change instantly,
and you can never be too prepared for tomorrow.
According to Danielle, FORVIS is driven by its forward
vision because they do not see tomorrow as something to
deal with later; we see it as something to prepare for
today.
As one firm, FORVIS is even stronger, with greater
resources, enhanced capabilities, and an expanded
national platform—and its commitment to exceeding
client expectations and providing exceptional value
remains the same.
According to Danielle, FORVIS’ combined practices
complement each other well. It will truly be a healthcare
provider powerhouse. The core services of audit and
regulatory reimbursement consulting are what both
legacy firms do very well and are known in the space.
Both legacy firms also have a strong commitment to the
power of leveraging data analytics and technology tools.
Danielle has been very impressed with the digital
solutions DHG (now FORVIS) developed, and clients
and users of these digital solutions have expressed that
they are extremely valuable for decision making. And
then there are the advisory and consulting services that
each of FORVIS’ firms provided that really round out the
service offerings to its clients. All of this will come
together to be more than the sum of its parts as FORVIS.
FORVIS comprises more than 5,400 team members and
more than 530 partners and principals with offices in 69
markets in 27 states, as well as in the United Kingdom
and Cayman Islands. Danielle shares, “This merger of
equals allows us to better serve our healthcare clients as
well as other healthcare providers across the care
continuum by broadening our expertise, deepening our
resource pool, and offering more specialized solutions.”
A
worldsleaders.com | 35
42. Becoming a Dominant Specialty
Insurance Provider
In September 2023, One80
Intermediaries achieved significant
recognition by ranking as the third
largest Managing General Agent
and Underwriting Manager in the
United States, according to
Business Insurance. However, the
company's founder, Mr. Power, has
a grander vision for One80
Intermediaries that extends well
beyond its current achievements.
Mr. Power envisions One80
Intermediaries becoming the
preeminent specialty insurance
provider in both the United States
and Canada. This ambitious vision
involves a multifaceted approach:
Ÿ Deepening Expertise: The
company intends to strengthen
its offerings in key areas of
expertise. This involves honing
its specialization and developing
a deeper understanding of
specific industry niches.
Ÿ Innovative Solutions: One80
Intermediaries aims to be at the
forefront of innovation in the
insurance industry. It seeks to
respond swiftly and effectively
to the evolving needs of the
market by providing creative
and forward-thinking solutions.
Ÿ Expansion: The company's
growth strategy includes
expansion efforts that span
geographical regions. This
expansion may involve strategic
partnerships, acquisitions, and
collaborations with other
industry players.
Ÿ Exceptional Service: Central to
this vision is a steadfast
commitment to delivering
exceptional service. The
company aims to maintain
strong relationships with its
broker and carrier partners, not
only in the United States and
Canada but also in Europe and
Asia.
Ÿ
By pursuing these strategies,
One80 Intermediaries aims to
position itself as the go-to specialty
insurance provider and realize its
vision of becoming a dominant
force in the industry across
multiple regions.
Core Values of Integrity and
Innovation
At One80 Intermediaries, two core
values, integrity and innovation,
serve as the bedrock of the
company's culture and operations.
These values are deeply embedded
in every aspect of the organization
and guide its decisions and actions.
Integrity is upheld through a
commitment to transparency and
ethical conduct in all business
dealings. The company places great
emphasis on open and honest
communication with clients,
partners, and employees. One80
Intermediaries maintains high
ethical standards to ensure trust and
credibility in the industry.
Innovation is another fundamental
value that drives the company
forward. One80 Intermediaries
actively fosters a culture of
innovation that encourages the
generation of fresh ideas and the
exploration of new approaches. The
company invests in cutting-edge
technology and data analytics to
stay ahead of industry trends.
42 | February 2024
43. In his role as the President of One80 Intermediaries, Mr. Power
holds significant responsibilities. These include establishing the
company's strategic direction, managing its daily operations,
and ensuring its ongoing growth and success. Additionally, Mr.
Power plays a pivotal role in cultivating and maintaining strong
relationships with clients and industry partners. His leadership
is instrumental in guiding the company towards its goals and
solidifying its position in the insurance industry.
Achieving Excellence
in Specialty Insurance
worldsleaders.com | 43
46. Root of the Foundation
Platform Transition used to be
TM
known as The Financial CoPilot
and provided operational
accounting services to expanding
businesses before committing to
the accounting data transfer
industry. Before Platform
Transition, its leadership team
built businesses in sectors such
as insurance consultancy, real
estate, construction, and retail
financial services. An associated
closely held business required
data transfer services but could
not locate a solution that
satisfied their needs or the
necessary budget and time
constraints. As the first clients of
the solution, they began their
journey in this business. As a
result, they are aware of the
clients' challenges,
opportunities, and frustrations.
They know that empathy is a
primary ingredient in the
migration process, followed by
effective and competent
execution of the actual
migration.
Differ Markedly from Others in
Data Migration
Platform Transition offers named
unique processes with outlined
workflows and purpose-built
results that clients can customize
to meet their needs and
specifications. Each procedure
entails cooperation, teaching,
counseling, and consulting, with
the option to improve the client's
experience to include up to 25
more in-migration requests at
standard pricing. It has
streamlined the client
engagement process so that they
are only accountable for four
main tasks. At the same time, it
completes the migration on their
behalf, and the Platform
Transition team has developed
innovations and migration
methodologies that allow clients
to "go live" on the new system on
time, regardless of the status of
the migration.
Make the Services More
Affordable
Platform Transition charges fixed
project fees for most of the
scopes in their statements of
work. This indicates that the
customer will have a precise
grasp of the expenses of their
data migration, including any
data abnormalities and further
scoping requests, shortly after
signing the contract. Customers
can now use Platform
Transition's services and support
without hesitation because they
have successfully eliminated the
worry that comes with a service
provider that charges by the
hour. They have every incentive
to do the task effectively the first
time because the incentivization
for that outcome is aligned.
Business Ethics
Every quarter, Hugh has the privilege of approving
initiatives that the company's team suggests be taken
to carry out particular actions based on the disclosed
plans. Regarding the company's beliefs, Hugh is happy
to report that they genuinely uphold them.
We speak with one voice.
We quickly get it done right the first time.
We are a space where chaos fades away.
We are responsible for the
customer’s experience.
We create solutions for the customer
challenges that matter.
46 | February 2024