WP Energy has shown resilience and great adaptability post merger. It has focused primarily on markets where it is strongest, while being attentive to new market trends and consumer behavior changes.
Words from the winner
The Energy To Go Further
When the World is your gas tank.
WP Energy Public Company Limited was established in 2014 in Thailand, and was the result of the merger of Worldgas and Picnic Company. The company is the second largest LPG distributor in Thailand, and serves three core sectors: industrial, where the company is in number three position; auto gas, as the market leader, and household, where Worldgas, one of the strongest LPG brands in Thailand, is used by over five million households. WP’s network of outlets across Thailand enables it to serve its customers promptly, with the best quality and most competitive price. WP Energy also supplies products to neighboring countries such as Myanmar, Laos, and Cambodia.
Business margins are slim by virtue of LPG being a commodity. In order to overcome this, WP Energy provides value added products and services, such as the provision of safety training and maintenance service to its customers, which the company feels is the best way to win business. The company knows a thing or two about challenges, as it clawed its way back into the black, and back on the stock exchange after the merger. Since then its financial performance has increased significantly over the past three years, with net profits jumping from US$2million in 2016 to US$10 million in 2018. That year the company received an international finance award for being the most sustainable LPG supply company.
In order to fulfill its vision of being an innovative regional leader in the energy business, WP Energy goes to great lengths to deliver products of high quality with matching service standards. Safety is paramount in the volatile gas business, and as such WP Energy demands stringent safety standards from all its staff. The company also has ISO9001, ISO14001, and ISO 18001 certification to ensure best safety and occupational practices
The LPG giant boasted a human resources turnover rate of only 1.7 percent for 2018. WP Energy offers staff benefits in line, or slight better, compared to other competitors in the same industry, and also ensures employees have an individual development plan in order to build up employees’ soft skills and functional competence. The company believes its low attrition rate comes from its policy of treating all staff equally. The same transparency and responsibility carries through to all WP Energy’s stakeholders.
While highly profitable, the company is expecting big challenges ahead in the next five years, what with the impending competition that LPG will face from other energy sources such as LNG. To weather this, WP Energy has banked on its service deliverables, and has shored up staff competency in preparation for new opportunities and change. As it prepares for business in industry 4.0, it continues to play the role of a good corporate citizen. WP Energy believes strongly in community education, and the care of the environment. Each year the corporation gives out yearly scholarship to impoverished students, without bonding them to service in the company. WP Energy also focuses its outreach activities on the teaching of life skills, with employees teaching students how to cook as part of their community outreach initiatives.
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