CORPORATE CULTURE
Banpu spreads the love
After its success in applying the "Banpu Spirit" in its Thai operations, Banpu Plc, a listed energy company, will export its corporate culture to its operations in China after the acquisition of power plants in that country.
Chief executive Chanin Vongkusolkit said corporate culture was part of the company's strategy to become a global company. After Banpu expanded its operations to Indonesia and China, the company found that the work cultures in the two countries were different. Therefore the company's executives have come up with the Banpu Corporate Shared Values, or Banpu Spirit, to create a shared corporate culture for all its employees, regardless of where they work. Banpu Spirit consists of innovation, integrity, care and synergy. These shared values are universal and will be applied to company's subsidiaries worldwide. Chanin said the company had started reinforcing the values with its staff in Bangkok last year and the effort had started to bear fruit this year. Last year Banpu reaped a net profit of Bt5.56 billion, 52.75 per cent higher from than Bt3.64 billion the year before. During the same period the percentage increase in net profits outpaced the increase in annual revenue from Bt20.4 billion to Bt28.85 billion by 41.42 per cent Due to its outstanding performance, Banpu won a number of awards. Following this success, the company is planing to promote its work culture in China. Recently, Banpu spent US$84 million (Bt3.2 billion) to acquire four power plants in China in Zhengding, Luannan, Zouping and Bengdu. The company hired around 1,000 local staff. Although China's authorities intend to reduce the country's heavy dependency on coal-fired power from 73 per cent down to 60 per cent by the year 2020, absolute consumption of coal will actually rise as power demand increases in line with China's rapid economic growth. Banpu's coal mine in Shanxi province started operation in the third quarter of 2005. The company also took a 40 per cent stake in a mine in Henan province toward the end of last year. Chanin said that Banpu viewed human resources as the most important for the company's operation. The company tries to promote human-resource development to enable its staff to rotate to wherever Banpu has invested. The Banpu Spirit will be applied to 2,000 Banpu employees globally, he added. Watcharapong ThongrungThe Nation
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