Under President, CEO and Director Thapanee Techajareonvikul’s leadership, Berli Jucker aligns its 142-year legacy with a new US$200 million sustainability-linked financing initiative for growth.
The story of Berli Jucker (BJC)’s success is one of adaptability and resilience. Originally engaged in a variety of commercial activities including rice milling, mining, timber and logistics, the business grew from a family-owned operation to become a key player in Thailand’s development as an industrial nation. Following a period of investment in innovation and technology, BJC’s interests now span four primary areas of focus: packaging, consumer goods, retail and healthcare supplies.
The company sets great store by its strong ethical principles and has won awards that not only recognise the quality of its innovative products, but also celebrate BJC’s pioneering corporate social responsibility (CSR) and sustainability initiatives. BJC has been making impressive progress against ambitious sustainability goals for several years, by focusing on improving recyclability, increasing renewable energy usage and reducing raw and packaging materials waste – an approach that is also positively impacting the bottom line. In fact, with environmental, social and governance (ESG) metrics carrying increasing weight in corporations’ 360-degree assessments of risks and opportunities, BJC’s determination to meet the stringent requirements of internationally recognized sustainability standards is a decision that is as good for business as it is for the planet. A landmark deal was recently secured with the United Overseas Bank (UOB) involving the issuance of sustainable linked bonds and derivatives, totalling US$200 million in capital.
With reported net profits of US$130 million against total revenues of US$4.6 billion in 2023, BJC is well placed for future growth. Recently, the firm’s business focus has been on boosting sales growth, particularly in the retail sector, to keep pace with the rise in tourism. Future plans involve exploring profitable new consumer categories. A strategic expansion into aesthetics, including Botox and fillers, has tapped into the current zeitgeist, with Thailand increasingly being seen as a global hub for state-of-the art aesthetic treatments.
BJC President, CEO and Director Thapanee Techajareonvikul outlines the company’s vision, and talks about her plans for the future.
Q: With the imminent CEPA agreement between Thailand and the UAE, how does your company plan to expand into the UAE market or attract investors and partners from the Middle East?
TT: We visited the UAE and Middle East, where we were impressed by the market potential. Our retail business has attracted customers from the region, reflecting its growing population. We aim to cater to their preferences and expand our product offerings accordingly.
Q: What export opportunities do you see for Thailand in the UAE and which sectors do you think would be the most promising for export?
TT: Currently, our consumer products play a significant role. We offer tissue products across all price segments and additionally provide soap, personal care items, as well as hair care and facial products. We also export a variety of food and snacks to neighbouring countries, China, and Hong Kong, where we have branches.
Q: How has BJC’s historic listing as one of the first seven companies on the Stock Exchange of Thailand influenced its financial strategies and relationships with investors over the years?
TT: Regarding our listing and historical performance, I believe we entered the capital market efficiently and amicably. Our debt structure and cost of capital are highly competitive, offering significant benefits. Our first-of-its-kind deal with UOB has opened doors to investors keen on sustainability, given our accolades in this area. We are also collaborating with suppliers and partners, further enhancing our position. Overall, this venture into the capital market, combined with our history and opportunities, promises substantial benefits.
Q: How does BJC approach its CSR and sustainability commitments?
TT: We have focused on reducing food waste, ensuring it reaches the right organizations promptly. Additionally, we have partnered with international organizations to emphasize energy conservation. We are completing the installation of solar roofs across all our stores, which will significantly cut down energy costs. These initiatives have been ongoing for some time. We have also been involved in community development projects. One notable project is the Don Jai initiative, which supports traditional mom-and-pop stores, providing them with POS systems and other necessary equipment. This not only benefits them but also helps us streamline our sales operations and data analytics. These initiatives align with our commitment to ESG goals and contribute to both environmental sustainability and business profitability. Our efforts, though grassroots at the beginning, continue to grow and make a significant impact.
Q: How does your management style contribute to achieving BJC’s strategic goals?
TT: What I value most is the longstanding relationship with our executives; I have known and worked with them for a long time. Recently we have been preparing for a generational shift, ensuring a smooth transition to the next management team. Being closely involved in shaping our company’s culture and processes has helped me understand how to facilitate the leadership transition seamlessly.
