The ACCist Special Edition 2017 : ACC Business Prep School by CBS Bangkok

FROM THE DIRECTOR Dear all ACCists, I am delighted that ACCA publishes this journal again to keep all ACCists posted on what developments are undergoing at our beloved school. Over the last 2 years, our school has been undergoing several improvements. First and foremost, business preparatory school concept was initiated. The idea is to prepare students to continue their higher education in business or non scientific majors. To be a successful business preparatory school, closed collaboration with business sector is a must. The school is overwhelmed with great support from ACCA and graduates rendering their hands in all means and areas possible e.g. accommodating internship, guest speakers, Rev. Bro. Viharn Srihapol Assumption Commercial College business site visits, and scholarship. Director Teacher is the utmost critical factor. Our teachers get several training sessions ranging from teaching methods to psychological counseling. This coming summer break, some of them will get their internship in business organizations. This arrangement will provide them with good opportunity to learn and update their knowledge from business world. Handling students properly is a challenge. teachers and parents need to work closely for the benefit of our students. The school has good relationship with both parents and PTA. Our PTA plays a great role in our student school life. Our campus network has been upgraded. ACC Web site was redesigned. Facility improvement is being planned. Quality assurance is being enforced. Five-year plan is being formulated. We still have a long list of improvements to achieve. Last but not least, we will offer a new program called Business Chinese in 2017. Both Chinese language and culture will be part of this new and exciting program. We have Confucius Class Room, and our partner, Beijing Language and Culture University working with us on the curriculum. Eight to ten periods of Chinese per week for 3 years ensuring that graduates will be able to pursue their higher education in China. To attract enrollments, we will offer ample scholarship to qualified candidates. With great collaboration and support from graduates, ACCA, PTA and parents, our school is for youngsters who wish to get head start in preparing themselves for further education with solid background in business disciplines, English and Chinese languages. I thank all of you for great support and wish you good health and great success. Do come home to visit your school and teachers. Warmest regards, Brother Viharn Srihapol

FROM THE EDITOR ITELTE Ñëè ¾ÀÀìö÷ Ðóèæìäï Âçì÷ìòñ ;Wh _=f;,<S<@V_JK

Editor In Chief Prasit Tarntong President Assumption Commercial College Alumni Association (ACCA) Advisor Surachai Sittichaivijit Executive Editor Anuwat Komkrichwarakool Associate Editor Apinop Karunyalert Contributions ACC Academic Team & Officers ACCA Staff Graphic by: Nipada Khuanvaen, Sulita Nuchsai Conversant Business Solutions Co., Ltd. url: www.cbsbangkok.com Printing by: Darn Sutha Press Co., Ltd. url: www.darnsuthapress.com The ACCist : Special Edition is a publication jointly published by Assumption Commercial College (ACC) and Assumption Commercial College Alumni Association (ACCA). All right reserved. The third party’s contents were authorized by owners for educational purposes only. Direct all correspondence to The Editor: ANUWAT@CBSBANGKOK.COM Ñëè ¾ÀÀìö÷· Ðóèæìäï Âçì÷ìòñ ¯®´

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THESPECIAL ACCIST EDITION JANUARY 2017 9

CONTENTS 6 EVENTS & MOVEMENTS 13 THE SPECIAL ONE: EK SIAMWALLA 13 ACC HALL OF FAME 2016 14 ACC HALL OF FAME 2017 19 ENTREPRENEUR VISION: SANAN ANGUBOLKUL 22 BUSINESS ROADMAP: PRAVIT JITNARAPONG 26 FEATURED STORIES: HOW FIVE FRIENDS BUILT MODERNFORM EMPIRE 32 ACC YOUNG PROFESSIONAL 34 ACC BUSINESS PREP SCHOOL 39 AROUND CAMPUS 45 ACC SCHOOL OF COMMERCE 47 CONFUCIOUS CLASSROOM 50 ACCA COMMITTEE

Available at ACC Bookstore M;S*LYO-WI=ERIS7V_+K0T+TEDkaE_$-Sg; CTEWDk LSg*.YhOc6h9Wg ACC MEYO ACCA

47 Ñëè ¾ÀÀìö÷· Ðóèæìäï Âçì÷ìòñ ¯®´

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ยฎยญ

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Ek Siamwalla

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ยฎยฐ

ACC HALL OF FAME

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FEATURED STORY

HOW FIVE FRIENDS BUILT MODERNFORM EMPIRE By: Sorayuth Vathanavisuth; Bangkok Post Business

OUR VISION : WE STRIVE TO CREATE INNOVATIVE IDEAS THAT INSPIRE THE ART OF LIVING AND QUALITY WORK LIFE

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More than 40 years ago, four young men met for the first time at Assumption Commerce College in Bangkok. They teamed up again in 1991 with another friend they had met while studying in the United States to establish a furniture business. Two decades later, all five are still playing leading roles at Modernform Group, one of Thailand’s largest furniture manufacturers and exporters.

All five founders are still active to different degrees in the Modernform business. Thaksa Busayapoka is the chief executive. Somsak Varikarn and Yothin Nerngchamnong oversee different parts of the business as executive board members. Charoen Usanachitt has less involvement with daily operations and is the chairman of the board.

Still together after all these years, standing from left: executive director Yothin Nerngchamnong, chairman Charoen Usanachitt, chief executive Thaksa Busayapok, vice-chairman Jajjai Dhammarungruang; and executive director Somsak Varikarn.

Good governance and friendships: “One good example of changing roles came after the 1997 economic crisis,” recalls Mr Jajjai. “I was the CEO then. However, I was aware that in such a unique and difficult situation, I was not the right person for the job. We agreed that Khun Thaksa, who is stil our current CEO, should play the leading role then.”

“I can say that, since the beginning, each one of us has always done what he does best,” says Jajjai Mr Thaksa put in motion plans to change the comDhammarungruang, vice-chairman of the board. pany’s strategy and business model, which have proved successful. “From a heavy focus on the “As individuals, each of us is aware of his own end-consumer market with a extensive showroom strengths and weaknesses. Hence, we typically let a network of more than 20 locations, we decided to particular task end up with the one of us whom we, change our focus to B2B (business to business) which as a group, truly believe is the right man for the job.” resulted in a better financial and marketing position,” he says. “Nowadays, we have only four showrooms in Bangkok and another two in Pattaya and Phuket.” Even though the businesses had its roots in the friendship of a small group of people, Modernform is open to all of its stakeholders. “Good governance is an important aspect of our partnership. Although we had been friends for years before we put our heads together as the Modernform Group, we always do things transparently,” says Mr Charoen, who is regarded by his peers as the expert in contracts and legal issues, home decoration and relationships with overseas suppliers. Modernform Group Public Company Limited is the manufacturer and distributor of home and office furniture based in Thailand. It is listed on the Stock Exchange of Thailand on March 11, 1992. Headquarter: Thailand Founded: 1980 Revenue: 4,337.4 million THB (2015) EBIT: 854.2 million THB Net income: 662.5 million THB Total assets: 4,086.3 million THB Market Cap: 5,962.5 million THB Ñhè ¾CCiö÷: Ðóèæiaï Âçi÷iòn ¯®´

“Ethical and honest practices are always in the back of our minds. Whatever we do, these elements we always follow through. In the early stage when we were not even listed on the SET, we always closed our accounting books on time and ran quarterly shareholders’ meetings. We are thankful to our long-time shareholders who have trusted us over the years.” ¯´

Mr Jajjai met Mr Somsak for the first time in the US where they attended the same college. After struggling during their student days in the US along with Mr Charoen, the three friends became closer and later they started a home decoration business in 1978.

Special and difficult relationships, especially with outsiders, have always been handled by Mr Yothin who also oversaw Thai Plaspac Plc, another listed company under the Modernform umbrella. “One thing that is unique for our group is keeping promises,” says Mr Yothin. “If one of us agrees on anything with a third party, the rest of us will definitely honour that promise.

Mr Thaksa and Mr Yothin first teamed up to run Thai Glove Company to manufacture and export leather gloves. They later joined their other friends to create Modernform in 1991. The company was listed on the Stock Exchange of Thailand in 1992.

“We may not like the arrangement and maybe we disagree with it, but we, as a group, always keep our word. Because of this practice, our partners always value that our words as better than a written contract.”

Words are better than contracts: Respect for the different strengths each man brings to the job is still a hallmark of Modernform. For example, taking care of business at headquarters and looking after key customers is in the hands of Mr Somsak, who is considered an energetic man of action who likes to start a job right away.

“Trust is critical and that is what we value. There are no suspicions among us,” says Mr Thaksa. “We always trust our friend when he makes a decision. People can make mistakes. If a failure occurs, we do not blame anyone,” adds Mr Jajjai.

“What we typically do is to give moral support to each other in order to move forward,” says Mr Somsak. “For my part, I always put myself into the position to win the ball game and try to do my best for the benefit of our team.” Ñhè ¾CCiö÷: Ðóèæiaï Âçi÷iòn ¯®´

“We respect our mutual agreement and never take different paths, although individually we may disagree on a decision,” adds Mr Yothin. ¯8

OURThe ACCists 4 BROTHERS From Class 30 (1970)

Over the years, there has never been any signed agreement on anything among Modernform's founders. They have never found themselves forming opposing sides when they have to decide any kind of issue.

Khun Chareon Usanachitt Khun Thaksa Busayapok Khun Jajjai Dhammarungruang Khun Yothin Nerngchamnong

"We also never enter into a voting situation. That is the beauty of friendship, which allows us to see eye to eye with our friends at any time on any issue," says Mr Thaksa.

Looking to the future: Although it has been run in a consensus-oriented and collegial fashion for many years, Modernform today is a big business and at some point a new generation of executives must be ready to lead it, something that Mr Thaksa acknowledges. “I always say that our key success factor is people, which is also considered our weakness since we do not have enough capable people to run the show,” he says.

Reprinted with Permission* About the Author: Sorayuth Vathanavisuth, a former chief executive of the Thailand Management Association, teaches at Mahidol University's College of Management. His areas of interest are leadership development, executive coaching and strategic business planning. He can be reached at: sorayuth@sealeadership.com

“Based on our succession planning, we are looking for the next generation of executives to whom we can pass the torch to further enhance the glory of our team effort.” Ñhè ¾CCiö÷: Ðóèæiaï Âçi÷iòn ¯®´

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ACCA YOUNG TALENT

AROUND CAMPUS ALUMNI’S TALK ¾CC¾ +S6$V+$EEC_LEþC=ERL<$TE5 bM ¾CC _= 6aO$TLbM @<=R`G$ _=GWgD;=ERL<$TE5 $S<;S$:ZE$V+`GR >[ =ER$O<$TE-SĦ;`;IM; T.Āg*_= ;JVKD _$ T ¾CC 9WgMCZ;_IÿD;CT8 TD9O6 _'Gf6GS<'ITCLlT_Eğ+9T*:ZE$V+ _@čĎO _@ĊĎC@[;'ITCE[ `GR`E*<S;6TGb+b;$TE 9lT:ZE$V+

LEARN@SITE _EÿD;E[ 5 L8T;=ER$O<$TE%O*JVKD _$ T `< *= ;=ERL<$TE5 a6D>[ <EþMTE `GR_+ T%O*:ZE$V+ _@čĎO_@ĊĎC@[;'ITCE[ `GRCZCCO*9T*:ZE$V+ `GRLE T*9S$KR 'ITC_= ;>[ =ER$O<$TE%O*>[ _EÿD;

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°9

SCHOLARSHIP GRANTING ¾CC c6 ES<$TEL;S<L;Z;6 T;9Z;$TEJX$KT 9Wg M GT$MGTD+T$LCT'CJV K D _ $ T OS L LSC-S @T5V-D C[G;V:V<ET_6OE _<OE ;TE 6 _@čĎ O _= ; $TEL * _LEþ C ;S $ _Eÿ D ;9Wg CZ * CSĥ ; 7 O $TE_7V<a7b;aG$:ZE$V+ 6 ID9Z;$TEJX$KT a'E*$TE_7EÿDC@E OCL[ 'ITC_= ;;S$:ZE$V+ 7GO6 ° =W

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AROUND CAMPUS RELIGIOUS PRACTICE ¾CC c6h_;h ; Dh l T bMh ; S$_EW D ;_%h Tb+8X *MGS $'Z5:EEC +EþD:EEC `GR'lTLO;7TCJTL;T9Wg7;_O*;S<8YO cC I T +R_= ;JTL;T'EþL7 JTL;T@Z9: MEāOJTL;TOVLGTC

FIELD TRIP BTDb7 $TEE ICCYO$S;ERMI T* ¾CC `GRLlT;S$*T;L *_LEþC$TE _EÿD;$TELO;BTKT+ÿ;;T;T-T7V ¥PSĥ;= ;¦ > T;9T*M O*_EÿD; %*+āgO aE*_EÿD;OSLLSC-S @T5V-D$TE .Āg*M;Xg*b;$V+$EEC MGS$'YO$TE@T;S$_EÿD;c=_EÿD;E[ +T$L8T;9Wg+Eþ* a6D_EþgC7 ; +T$@Ċ@Ċ:BS53 G[$MGT;@S;:Z CS*$E +S*MIS6LZ@EE5<ZEÿ _@čĎO 9Wg+RbM ;S$_EÿD;c6 _Mf;8X*=ERIS7V'ITC_= ;CTOS;DTI;T;$I T 5© = %O*-;-T7V+ÿ; `GR+R_= ;+Z6_EþgC7 ;b;$TELE T* 'ITC_% Tb+9WgGX$.Āh*7 OBTKT`GRIS4;:EEC+ÿ;9Wg6W*TC

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AWARD ;S$_Eÿ D;aE*_Eÿ D;OS L LSC -S @T5V-D$TEc6 LE T* 'ITC=ER+S $ KĔ b ;'ITC$ T IM; T 9T*6 T ;Iþ - T$TE 6 ID$TE_% TE IC=ER$I6`% *%S;b;ETD$TE7 T*e b;9Z$ER6S< 7SĦ*`7 ER6S<_%7 +S*MIS6 MEāO`C $ER9Sĥ* ER6S<=ER_9J cC I T+R_= ;>G*T;9T*6 T;$TE =ER$I6LZ;9E@+; BTKTc9D +ÿ; OS*$FK MEāO 9S$KR9T*6 T;:ZE$V+

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AROUND CAMPUS BOWLING $V + $EEC=ER+l T = 9Wg + RLT;LS C @S ; : E RMI T *<h T ; `GRaE*_EW D ;bMh ` ;<`;g ; DVĥ*%Āh; 6 ID'ITC L;Z$L;T; _LWD*MS I _ETR `GREODDVhC b;$V+$EEC LT;LS C @S ; :k < h T ;`GRaE*_EW D ; >g T ;9T*$WNT a<IkGVg* .Xg*_=f;$TEEgIC$S;+S6%Xh;ERMI T*LCT'C >[ h = $'EO*`GR'E[ $S < aE*_EW D ;OS L LS C -S @T5V-D$TE

GRADUATION PARTY ÄÍ *T;_GW h D *,GO*$TEJX $ KT+<%O*;S $_EWD; ¾CC 9W g+ R-g I D@S4 ;T'ITCLTCTE8b;$TE+S6 Âùèn÷ 6 ID$TE9Wg>[ _EÿD;7 O*_= ;>[ +S6*T;_O* `GR_= ; $TE_LEþ C LE T *'ITCLS C @S ; : OS ; 6W E RMI T * ;S$_EÿD; >[ =$'EO* `GRaE*_EÿD;

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ACC SCHOOL OF COMMERCE MGS$L[7E=Eþ T7Eÿ CMTIþ9DTGSDOSLLSC-S ;S<7SĦ*`7 'ITCE ICCYOb;$TE+S6$TE_EÿD;$TELO;b;MGS$L[7E =Eþ T7Eÿ a6D Martin De Tours School of Management CMTIþ9DTGSDOSLLSC-S ¥¾¿¾C¦ b;LT%TIþ-T ACC SCÅÌÌÉ ÌF CÌMMERCE ¥ACCSC¦ = ++Z<S; ;S$JX$KTEZ ;9Wg ´ $lTGS*_EþgC_% TL[ $TE_EÿD;OD T*_% C% ; a6DLCT'CJVKD _$ TOSL LSC-S @T5V-D c6 bM $TEL;S<L;Z;7 T*e 9SĦ*9T*6 T;9Z;$TE JX$KT `GR$TE+S6$V+$EEC_LEþC'ITCE[ b;E[=`<<bMC c6 ES< $TE$G TI%IS 8X*b;`I6I*OZ6CJX$KT cC I T+R_= ;a=E`$EC LM$V+JX$KT 9Wgc6 ES<$TEL *_LEþC+T$$V+$TE%O*JVKD _$ T 9WgE IC 9lT<S;9X$% O7$G*b;$TEES<;S$JX$KT= 9Wg 4 _% T9lT*T;_LCYO; +Eþ* a'E*$TE Éearn½Site--9Wg@T;S$JX$KTc=-C$V+$TE`<< Ïèaïi÷ü Ðhòú LSC>SL$TE9lT*T;b;`%;*7 T*e `GR$TE +S6_LI;T Alumni s Talî a6DJVKD _$ T ¾CC OTIZaL `GR>[ _-ÿgDI-T _,@TR6 T;b;I*$TE:ZE$V+`GR$TE<EþMTE+S6$TE ;S< I T _= ;=ERaD-; 9SĦ*7 O7SI;S$JX$KTa6D7E* `GRMGTD'ESĦ* LCT 'CQ c6 _= 6aO$TLbM ;S$_EÿD; ¾CC _% TE ICb;<T*$V+$EEC +;$GTD_= ;$V+$EECMGS$9Wg+S6%Āh;7 OCTbM $S< ¾CCÐC a6D _,@TR

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CONFUCIOUS CLASSROOM ACC Students’ Summer Trip to China. Chinese Volunteer Teachers at ACC Confucious Classroom.

Ñhè ¾CCiö÷: Ðóèæiaï Âçi÷iòn ¯®´

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FATIMA BROADCASTING INTERNATIONAL CO., LTD. Thailand’s premier ratio broadcasting concessionaire with multiple station for nation-wide coverage. We are currently managing FM 93.5 MHz - Happy Time Radio (HD1) (Bangkok) and other 7 stations in Chiengmai, Nhongkai, Udonthani, Khonkean, Nakornrajsrima and Suratthani.

FATIMA R.B.D.S. INTERNATIONAL CO. LTD. We are one of Thailand’s leading professional solution provider and system integrator. FATIMA was established in1997, with a fully paid up registered capital of 240 million Baht. At Fatima, our industry focus includes Transportation, Telecommunication, Education, Public Sector and Financial Services.

The ACCist Special Edition 2017 : ACC Business Prep School

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The ACCist Special Edition 2017 : ACC Business Prep School