He was appointed the company's director in April, to replace Boonchoo Direksthapon, who returned to the Electricity Generating Authority of Thailand. Narong himself had worked for Egat since graduation with a degree in mechanical engineering from Chulalongkorn University and a degree in mechanical and aerospace engineering from Illinois Institute of Technology.

"Ratch is the first private company that I have joined. It is a very different atmosphere,'' he said.

At Egat, all top officials must bear in mind the balance of power and fairness in every action, to ensure sustainability in the workplace. They thus take a long time to reach decisions, while a private company like Ratch requires a man with an aggressive, quick and flexible attitude.

"I have had to change my mindset and need to be careful as any decision has an almost immediate effect. I tell all employees that the faster we can complete something, the more advantage we have over our competitors," said the 58-year-old executive.

At Ratch, his top priority is to achieve the company's business plans in order to maintain growth and the position of the independent power-producer in the region. Ratch plans to produce and sell electricity in the country, produce electricity in overseas countries for sale in Thailand and produce and supply electricity in overseas markets.

His working philosophy at Ratch is to create good governance and long-term stability for solid growth.

"Ratch has to invoke aggressive business moves and fast decision-making, which at the same time requires its executives to be much more prudential. I tell my staff that the faster we move, the greater the advantage we will gain over our competitors," Narong added.

Narong said that the electricity-generation industry had grown between 7 and 8 per cent in the past but was now growing at around 2 per cent.

"Therefore we have to prepare right now for the next 10 years. Ratch has a production capacity of 4,000 megwatts. If we want to maintain growth, we have to boost the production capacity to increase revenue," he said, adding that only expansion would further ensure net-profit growth for shareholders.

At present, Egat holds 45 per cent in the company.

"Electricity-generation will still be our main business, but we have to be prepared now as the industry is showing slow growth. To be the major player we must invest more, and tapping the overseas markets is a must," he said.

"It's very challenging. I assumed this post at a transitional period for the industry, so I have to be very careful. Therefore I'll promote participation among all staff to share ideas," Narong added.

Siriporn Chanjindamanee

The Nation