About this series
Building Asia is a collection of business stories on CNA that examines the financial forces driving Asia’s position as an economic powerhouse. Chinnavorn Plast and Success Plast – Moulding a greener future was first aired on 12 December 2022 under the Building Asia with UOB series. It looks at how Chinnavorn Plast and Success Plast tapped UOB’s holistic green financing solution to support their sustainability goals.
Transcript
Pralfah Ratchatavitayakul (General Manager, Success Plast):
Our factory runs 24/7 producing around 1,000 metric tons of corrugated plastic, or plastic, per month. The electricity from these solar panels goes into our recycling facility.
Piya Thanomsaksri (Finance Director, Chinnavorn Plast):
There are around 1,400 solar panels installed in this company. The power generated is used by our manufacturing machines in our factory.
Pralfah Ratchatavitayakul:
Our business is a family business. Ten years ago, my parents considered investing in solar panels for our company. However, the price of solar panels was very high.
In 2021, we noticed that the price of solar panels had greatly decreased. We therefore reconsidered the project.
Piya Thanomsaksri:
The installation of solar panels was a company project to support our client’s requirements.
We were also concerned over pollution and wanted to reduce the environmental impact on global, as well as future sustainability.
Amporn Supjindavong (Executive Director and Head of Commercial Banking, UOB Thailand):
UOB’s sustainable financing solution, U-Solar, was introduced in Thailand in 2020. This financing solution received attention from many customers such as Success Plast and Chinnavorn Plast. UOB took the opportunity to provide financing solutions to support solar rooftop installations for both companies.
Pralfah Ratchatavitayakul:
UOB provided us with advice and consultation in terms of solar cells, to find the best solution for the solar panels installation project.
We have had a good relationship with UOB for a long time, with the bank taking care of us since we opened our factory (1995).
Piya Thanomsaksri:
Two years ago, our company planned to invest in an expansion.
It was during that time that we initiated the solar roof project. UOB’s U-Solar programme was proposed, and it met our requirements.
Amporn Supjindavong:
We have vendors and EPC (Engineering, Procurement, and Construction) hubs to support UOB Group’s clients. We can connect the right partners to our clients to provide the best solution.
Piya Thanomsaksri:
In terms of future goals, the solar roof is just the beginning. In the long term, our company is to develop other projects.
Pralfah Ratchatavitayakul:
We would like to learn more about solar power and renewable energy. This will allow us to invest further in sustainability.