UOB bank
UOB Thailand today marks the official launch of Business Circle, an initiative dedicated to empowering the next generation leaders of family-run firms. Through this initiative, participants gain exclusive access to knowledge exchange, region-wide networking opportunities, the potential for fresh collaborations and tailor-made financial support from UOB.
Family businesses play a vital role in Thailand’s economy, contributing significantly to societal development and job creation. Their significance is underscored by the fact that family-owned enterprises constitute a substantial 57 per cent of the companies listed on the Stock Exchange of Thailand, accounting for 43 per cent of the total market capitalisation[1].
Driven by ambition and the pursuit of growth, Thai businesses are keen to explore opportunities overseas. According to the UOB Business Outlook Study[2] 2023 (SME & Large Enterprises), nine out of ten have identified overseas expansion as a priority over the next three years. The motivation to do so is clear; overseas expansion brings with it the promise of increased revenue, enhanced profitability and an enhanced reputation. Thai businesses have set their sights on Singapore, Vietnam, Malaysia and mainland China, with a notable one in three businesses planning expansions beyond Asia.
Mr Tan Choon Hin, President and CEO, UOB Thailand, said, “We have a profound understanding of the aspirations that drive family-led businesses, as we have grown from entrepreneurial roots and have been supporting entrepreneurs from generation to generation. The Business Circle in Thailand harnesses our extensive expertise as a premier regional bank, deeply rooted in the country’s fabric. Our aim is not only to bridge the gap but to fuel our customer’s business ambitions. Whether they choose to thrive within Thailand or set sail into the neighbouring markets, we stand firmly by their side, ready to empower their journey.”
Under The Business Circle programme, participating members are offered exclusive excess to knowledge exchange events and workshops tailored to address critical facets of their business growth. These include sustainable business strategies, the adoption of technological advancement, and the intricacies of market expansion. The Bank plans to organise business missions both domestic and international, providing members with the opportunity to explore new horizons while connective with local business leaders for knowledge sharing and collaborations.
This initiative builds on the success of the Business Circle previously launched in Singapore in 2019. The primary objectives remain unchanged: connecting ASEAN’s Next Generation leaders to new networks and business expansion opportunities. The initiative focuses on key avenues of growth, including Connectivity, Digitalisation and Sustainability. Members benefit from deep industry insights, business acumen and innovative thinking drawn from successful entrepreneurs. Moreover, the Business Circles facilitate cross-industry and cross-border connections and collaborations across UOB’s key markets.
To date over 1,000 business owners and next generation leaders have participated in the initiative across the markets in which UOB operates. This includes China, Indonesia, Malaysia, Singapore, Thailand and Vietnam. Following the launch in Thailand, UOB is set to extend this impactful initiative to Indonesia and Malaysia.
[1] https://www.set.or.th/th/about/setsource/insights/article/305-familybusiness
[2] https://www.uob.co.th/investor/news/press-news/2023/news-24jul2023.page
UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.
For nearly nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with ASEAN.
The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to help businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.
UOB Thailand is a fully-licensed commercial bank with its network of 149 branches, 352 ATMs nationwide (as at 31 December 2021). UOB Thailand is 99.66 per cent owned by Singapore-headquartered UOB, and is rated among the top banks in Thailand: AAA (tha) by Fitch Ratings.
12 September 2023
For More information, please contact
Brand Media and Communications
United Overseas Bank (Thai) Pcl.
Orawee Wiriyathananon
Email: orawee.wir@uob.co.th
Tel. (+66) 2343 4040
Orapim Thongbhakdi
Email: Orapim.tho@uob.co.th
Tel. (+66) 82 010 9588