Siam Cement Group has scooped an award for Thailand’s most innovative companies, The Nation reports. The theme for this year was "Innovation Leading to the Economic Recovery".
Annop Tanlamai, dean of commerce and accountancy at Chulalongkorn University, said on September 9 that the awards recognised 10 companies that were the most innovative in the service and non-service markets. Siam Cement Group won in the non-service category.
The awardees were selected from the 480 companies listed on the Stock Exchange of Thailand based on their achievements in innovative services and return on invested capital, or pre-tax profit to long-term debt and equity.
Wilaiporn Chetanchan, director of corporate technology at SCG, said consumers now identified SCG as a brand of innovation through their experience with its products and services. This award is a result of the company’s innovation directions and execution, he said.
"We don’t do research and development to be ahead of our competitors, but we continuously invest in R&D, keeping in mind the need to be environmentally-friendly. We follow the vision of our CEO to invest in R&D with social responsibility," he said.