1 00:00:02,000 --> 00:00:05,920 Speaker 1: Hello, because you're a subscriber to this Bloomberg podcast. We 2 00:00:06,040 --> 00:00:08,880 Speaker 1: thought you'd be interested in a sponsored podcast called The 3 00:00:08,960 --> 00:00:13,160 Speaker 1: Stewards of Compassion, presented by BGRIM and produced by Bloomberg 4 00:00:13,240 --> 00:00:17,360 Speaker 1: Media Studios, find out how a belief that businesses are 5 00:00:17,400 --> 00:00:20,880 Speaker 1: not just engines of profit, but also stewards of well 6 00:00:20,960 --> 00:00:25,119 Speaker 1: being can help drive a company forward. We hope you 7 00:00:25,239 --> 00:00:34,200 Speaker 1: enjoy the concluding episode. For nearly a century and a half, 8 00:00:34,600 --> 00:00:37,479 Speaker 1: Bgrim has been more than just a business. It has 9 00:00:37,520 --> 00:00:42,080 Speaker 1: been a force for positive change. Founded in eighteen seventy eight, 10 00:00:42,320 --> 00:00:46,280 Speaker 1: the company's legacy is deeply rooted in Thailand's development. From 11 00:00:46,320 --> 00:00:51,479 Speaker 1: pioneering modern medicine to advancing infrastructure and energy solutions that 12 00:00:51,600 --> 00:00:55,600 Speaker 1: beyond economic progress, Bigrim has always held a firm belief 13 00:00:56,000 --> 00:01:00,800 Speaker 1: business must serve society. This philosophy is at the heart 14 00:01:00,840 --> 00:01:05,440 Speaker 1: of the company's approach, an approach defined by compassion, purpose, 15 00:01:05,720 --> 00:01:08,640 Speaker 1: and a commitment to leaving the world better than they 16 00:01:08,680 --> 00:01:13,720 Speaker 1: found it. From wildlife conservation to education, from health care 17 00:01:13,760 --> 00:01:18,039 Speaker 1: to the arts, BGRIM integrates philanthropy into its very fabric, 18 00:01:18,400 --> 00:01:21,319 Speaker 1: not as an obligation, but as a natural extension of 19 00:01:21,360 --> 00:01:24,760 Speaker 1: doing business the right way. At the core of this 20 00:01:24,800 --> 00:01:28,320 Speaker 1: commitment lies the belief that businesses are not just engines 21 00:01:28,360 --> 00:01:32,959 Speaker 1: of profit but also stewards of well being, and for 22 00:01:33,040 --> 00:01:36,959 Speaker 1: BGRIM and its current chairman, doctor Harold Link, this means 23 00:01:37,080 --> 00:01:42,280 Speaker 1: fostering a culture of kindness, empathy, and social responsibility, values 24 00:01:42,400 --> 00:01:44,520 Speaker 1: deeply embedded in its leadership. 25 00:01:46,560 --> 00:01:49,600 Speaker 2: Now, when you look into compassion and the Buddhist content, 26 00:01:50,200 --> 00:01:55,600 Speaker 2: they have what they care compassion, loving, kindness, sympathetic, joy, 27 00:01:55,680 --> 00:02:00,000 Speaker 2: and equanimity as the four immeasurables. 28 00:01:59,400 --> 00:02:02,760 Speaker 3: So can you be a compassionate person nowadays? 29 00:02:02,800 --> 00:02:06,560 Speaker 2: Fortunately, empathy has become an important world so you have 30 00:02:06,640 --> 00:02:08,160 Speaker 2: to understand the other person. 31 00:02:09,400 --> 00:02:10,000 Speaker 3: Now, in the. 32 00:02:09,960 --> 00:02:13,240 Speaker 2: Companies, we always have a purpose like now of doing 33 00:02:13,240 --> 00:02:15,240 Speaker 2: business with compassion or becompowered. 34 00:02:15,240 --> 00:02:18,200 Speaker 3: We have a vision empowering the world compassionately. 35 00:02:18,680 --> 00:02:22,400 Speaker 2: So if everybody wants to achieve the same thing and 36 00:02:22,440 --> 00:02:25,800 Speaker 2: they're all compassionate towards each other, then you get the 37 00:02:25,919 --> 00:02:29,680 Speaker 2: power of a laser beam. Instead of getting this dispersed 38 00:02:29,800 --> 00:02:33,200 Speaker 2: light that shines into so many directions, now suddenly all 39 00:02:33,320 --> 00:02:36,440 Speaker 2: comes to the same point and then the organization will 40 00:02:36,480 --> 00:02:37,920 Speaker 2: be so much more successful. 41 00:02:39,320 --> 00:02:46,160 Speaker 1: This compassionate approach is further embodied in begrim's core values positivity, professionalism, 42 00:02:46,680 --> 00:02:49,520 Speaker 1: partnership and pioneering spirit. 43 00:02:51,960 --> 00:02:55,799 Speaker 2: We have four important values for us. One is positivity. 44 00:02:56,240 --> 00:02:59,519 Speaker 2: No matter what is happening, we still look at the 45 00:02:59,600 --> 00:03:02,839 Speaker 2: world positively. Have this attitude and the people who come 46 00:03:02,880 --> 00:03:06,520 Speaker 2: with us. Many lives depend on our work, especially in 47 00:03:06,520 --> 00:03:10,640 Speaker 2: the pharmaceutical and medical equipment field, but also in the 48 00:03:10,639 --> 00:03:13,160 Speaker 2: one hundred percent available of our electricity. 49 00:03:13,720 --> 00:03:16,040 Speaker 3: Professionalism is a very important value. 50 00:03:16,200 --> 00:03:20,320 Speaker 2: So in Switzerland professionalism is given, but in Thailand you 51 00:03:20,400 --> 00:03:24,240 Speaker 2: have to emphasize that. The third value, which is becoming 52 00:03:24,280 --> 00:03:27,760 Speaker 2: more popular now is partnership. So ten years ago, if 53 00:03:27,760 --> 00:03:29,600 Speaker 2: you talked to big companies, they all want to do 54 00:03:29,680 --> 00:03:34,120 Speaker 2: everything by themselves. Nowadays people are more and more liking 55 00:03:34,160 --> 00:03:37,520 Speaker 2: partnerships and that has been a guiding value for bigrim 56 00:03:37,600 --> 00:03:41,680 Speaker 2: since the very beginning. The fourth pie is pioneering spirit, 57 00:03:41,960 --> 00:03:44,720 Speaker 2: about being the first one to bring modern medicine, being 58 00:03:44,760 --> 00:03:49,000 Speaker 2: the first one to bring radio systems here, and debuting 59 00:03:49,040 --> 00:03:52,720 Speaker 2: the largest solar plant in Vietnam when nobody else was 60 00:03:52,960 --> 00:03:56,400 Speaker 2: doing that, got the first green lawn in our region, 61 00:03:57,080 --> 00:04:00,560 Speaker 2: and so we think about how we can and keep 62 00:04:00,600 --> 00:04:06,400 Speaker 2: on pioneering something with a good risk reward relationship, and 63 00:04:06,440 --> 00:04:08,040 Speaker 2: so far it has worked out well. 64 00:04:11,400 --> 00:04:15,320 Speaker 1: One of the profound philosophies that resonate with Begrim's mission 65 00:04:15,520 --> 00:04:19,479 Speaker 1: is gross national happiness, a concept from Bhutan that measures 66 00:04:19,480 --> 00:04:22,880 Speaker 1: a nation's success by the happiness of its people rather 67 00:04:23,000 --> 00:04:25,000 Speaker 1: than just economic indicators. 68 00:04:27,040 --> 00:04:31,000 Speaker 2: When the fourth King of Bhutan was seventeen and just 69 00:04:31,080 --> 00:04:34,040 Speaker 2: came to the throne, as he was asked by a journalist, 70 00:04:34,600 --> 00:04:39,160 Speaker 2: how big is your GDP, he that in Bhutan, we 71 00:04:39,320 --> 00:04:42,680 Speaker 2: concentrate on the happiness of our people. So for us, 72 00:04:42,760 --> 00:04:46,280 Speaker 2: gross natural happiness is more important than gross domestic product. 73 00:04:46,720 --> 00:04:48,000 Speaker 3: And now they're. 74 00:04:47,680 --> 00:04:51,280 Speaker 2: Going to build a big city close to India which 75 00:04:51,320 --> 00:04:55,280 Speaker 2: is concentrating on that, a mindful city with new investments 76 00:04:55,320 --> 00:04:59,000 Speaker 2: in clean businesses. One day I was in Bhutan and 77 00:04:59,000 --> 00:05:01,680 Speaker 2: invited to the palace of one of the queens. I 78 00:05:01,839 --> 00:05:04,479 Speaker 2: was there at the lunch and the sister of the 79 00:05:04,520 --> 00:05:08,000 Speaker 2: current king was at this lunch, and there is a 80 00:05:08,040 --> 00:05:11,880 Speaker 2: head of the Gross National Happiness Center in Bhutan. I 81 00:05:11,960 --> 00:05:14,239 Speaker 2: asked whether we should try to bring this to Thailand 82 00:05:14,360 --> 00:05:18,160 Speaker 2: because it goes very well with Bigram's philosophy in our culture. 83 00:05:18,720 --> 00:05:21,760 Speaker 2: Now they have a Gross National Happiness has four pillars, 84 00:05:22,000 --> 00:05:24,680 Speaker 2: so one of them is good governance, the other is 85 00:05:25,240 --> 00:05:29,800 Speaker 2: development of culture, and there is development of the environment, 86 00:05:30,440 --> 00:05:34,120 Speaker 2: and the fourth one is the development of economy and 87 00:05:34,200 --> 00:05:38,240 Speaker 2: general well being. So it fits perfectly with what we 88 00:05:38,320 --> 00:05:41,240 Speaker 2: have been doing all along, and so that's why we 89 00:05:41,400 --> 00:05:44,799 Speaker 2: established it here and we try to promote this gross 90 00:05:44,880 --> 00:05:46,360 Speaker 2: national happiness. 91 00:05:48,080 --> 00:05:51,880 Speaker 1: Bigram's commitments to conservation is evident through their Save the 92 00:05:51,960 --> 00:05:58,880 Speaker 1: Tigers project initiated in twenty thirteen, recognizing tigers as apex 93 00:05:58,920 --> 00:06:02,599 Speaker 1: predators for a balanced ecosystem. 94 00:06:03,040 --> 00:06:05,599 Speaker 2: So we support the tigers a lot because they are 95 00:06:05,680 --> 00:06:07,719 Speaker 2: top of the food chain. If you take that away, 96 00:06:07,760 --> 00:06:10,360 Speaker 2: you can see what happened in America and Europe. If 97 00:06:10,360 --> 00:06:12,120 Speaker 2: you take the top of the future chain away, it 98 00:06:12,240 --> 00:06:15,600 Speaker 2: all help breaks loos. So we advertise for tigers and 99 00:06:15,640 --> 00:06:18,760 Speaker 2: now we find that more and more people find that 100 00:06:19,000 --> 00:06:22,520 Speaker 2: tigers are an important part of the ecosystem. We support 101 00:06:22,560 --> 00:06:26,080 Speaker 2: the Taig government with the protection of the tigers. We 102 00:06:26,279 --> 00:06:30,000 Speaker 2: bought live insurance for the rangers they didn't have telecommunication 103 00:06:30,160 --> 00:06:33,880 Speaker 2: equipment so that they can communicate across national parks with 104 00:06:34,000 --> 00:06:34,400 Speaker 2: each other. 105 00:06:34,880 --> 00:06:36,240 Speaker 3: Or we made pr. 106 00:06:36,000 --> 00:06:39,800 Speaker 2: Effort in areas around the national parks so that people 107 00:06:40,279 --> 00:06:44,000 Speaker 2: tried to help to stop the pochers. I think awareness 108 00:06:44,040 --> 00:06:46,400 Speaker 2: is very important, so we tried to build a lot 109 00:06:46,480 --> 00:06:50,760 Speaker 2: of awareness that everybody wants to support tigers. 110 00:06:51,640 --> 00:06:57,080 Speaker 1: Beyond conservation. Bigrin places a strong emphasis on education. Since 111 00:06:57,120 --> 00:07:01,000 Speaker 1: twenty ten, they have supported that Little Scientists House Thailand, 112 00:07:01,279 --> 00:07:04,760 Speaker 1: a project initiated by Her Royal Highness Princess Maha Chakri 113 00:07:04,880 --> 00:07:10,680 Speaker 1: Sirindhorn to make science enjoyable for kindergarteners. The initiative aims 114 00:07:10,680 --> 00:07:15,280 Speaker 1: to inspire young minds to explore scientific concepts through fun 115 00:07:15,320 --> 00:07:16,720 Speaker 1: and interactive learning. 116 00:07:18,040 --> 00:07:24,960 Speaker 2: We strongly support dual vocational training like it's done in Germany, Switzerland, Austria, 117 00:07:25,360 --> 00:07:30,720 Speaker 2: Australia because in Germany the middle class is mainly made 118 00:07:30,720 --> 00:07:33,960 Speaker 2: out of those who studied dual vocational training, meaning they 119 00:07:34,040 --> 00:07:37,920 Speaker 2: get training in the company and in the vocational school, and. 120 00:07:37,840 --> 00:07:39,440 Speaker 3: We don't really have that in Thailand. 121 00:07:39,880 --> 00:07:44,320 Speaker 2: So people don't become middle class if they study that 122 00:07:44,440 --> 00:07:47,400 Speaker 2: one but in Germany they're an middle class. So you 123 00:07:47,480 --> 00:07:51,160 Speaker 2: can even set up your own business. Then we found 124 00:07:51,240 --> 00:07:55,480 Speaker 2: that when we invested in some internet related companies that 125 00:07:55,640 --> 00:07:59,280 Speaker 2: in Thailand the software skills are not that great and 126 00:07:59,400 --> 00:08:01,080 Speaker 2: the universe a c it is don't know how to 127 00:08:01,160 --> 00:08:06,480 Speaker 2: teach entrepreneurship because the professors don't become entrepreneurs themselves, different 128 00:08:06,520 --> 00:08:09,640 Speaker 2: to the United States, and so we brought a university 129 00:08:09,680 --> 00:08:13,280 Speaker 2: here that's called Harbor Spased then to educates such people. 130 00:08:13,960 --> 00:08:17,360 Speaker 2: And then we support a lot of universities and schools. 131 00:08:17,400 --> 00:08:20,960 Speaker 2: And there's a great kindergarten project. It's called a Little 132 00:08:21,000 --> 00:08:25,200 Speaker 2: Scientist's House, and now there are twenty two thousand kindergartens 133 00:08:25,200 --> 00:08:28,160 Speaker 2: who use that and make children have fun with science, 134 00:08:28,520 --> 00:08:31,960 Speaker 2: because normally children are afraid the thing is a difficult 135 00:08:32,000 --> 00:08:35,600 Speaker 2: subject to conquer. But now they say, actually, it's fun, 136 00:08:35,760 --> 00:08:38,560 Speaker 2: so normal children are not afraid of science anymore. 137 00:08:41,240 --> 00:08:44,360 Speaker 1: In the realm of equestrian sports, BGRIM has been a 138 00:08:44,400 --> 00:08:49,599 Speaker 1: pivotal supporter. They have been instrumental in elevating Thailand's equestrian 139 00:08:49,720 --> 00:08:55,320 Speaker 1: standards to international levels by organizing tournaments, supporting athletes, and 140 00:08:55,559 --> 00:09:01,680 Speaker 1: advocating for equestrian related careers. Notably, in twenty b GRIM 141 00:09:01,720 --> 00:09:05,680 Speaker 1: sponsored the Thai equestrian team, enabling them to qualify for 142 00:09:05,760 --> 00:09:09,320 Speaker 1: a full eventing team at the Tokyo Olympics, a first 143 00:09:09,520 --> 00:09:10,720 Speaker 1: in Thailand's history. 144 00:09:12,240 --> 00:09:16,520 Speaker 2: We support equestrianism a lot in Thailand. Number one is 145 00:09:16,559 --> 00:09:19,360 Speaker 2: because we love the sport, and number two, we want 146 00:09:19,440 --> 00:09:22,720 Speaker 2: to do something good for society. I became the president 147 00:09:22,800 --> 00:09:26,120 Speaker 2: of the Talent Equestion Federation and also the Southeast Asian 148 00:09:26,160 --> 00:09:30,439 Speaker 2: Equestrian Federation, so that way we make sure that Southeast 149 00:09:30,480 --> 00:09:33,839 Speaker 2: Asia and the Southeast Asian Games can continue to have 150 00:09:34,080 --> 00:09:35,440 Speaker 2: equestrian sport in it. 151 00:09:35,960 --> 00:09:37,520 Speaker 3: And of course we love the sports. 152 00:09:37,960 --> 00:09:40,760 Speaker 2: We are the only Southeast Asian country that sent the 153 00:09:40,800 --> 00:09:43,560 Speaker 2: whole team to the Olympic Equestrian Games. 154 00:09:44,240 --> 00:09:45,960 Speaker 3: We buy a lot of horses. 155 00:09:45,520 --> 00:09:48,679 Speaker 2: For a national team, we've trained the national team and 156 00:09:48,800 --> 00:09:52,640 Speaker 2: our facilities we build one of the very few places 157 00:09:52,679 --> 00:09:55,320 Speaker 2: in the world where you have seven equestrian sports at 158 00:09:55,320 --> 00:09:56,319 Speaker 2: the same locations. 159 00:09:57,240 --> 00:10:00,760 Speaker 1: For be Grim, the power forward is clear. Success is 160 00:10:00,800 --> 00:10:04,520 Speaker 1: not measured merely by financial milestones, but by the impact 161 00:10:04,600 --> 00:10:09,360 Speaker 1: left on people, communities, and the environment. The company's legacy 162 00:10:09,559 --> 00:10:14,680 Speaker 1: is not just about growth, It is about purpose. From 163 00:10:14,760 --> 00:10:18,840 Speaker 1: ensuring the protection of endangered species to nurturing young minds, 164 00:10:19,240 --> 00:10:24,640 Speaker 1: from advancing medical research to preserving cultural heritage. Bigrim continues 165 00:10:24,679 --> 00:10:29,560 Speaker 1: to prove that business and compassion are not mutually exclusive. Instead, 166 00:10:29,760 --> 00:10:33,800 Speaker 1: they are two sides of the same coin. This unwavering 167 00:10:33,840 --> 00:10:38,040 Speaker 1: commitment stems from a fundamental belief when companies align their 168 00:10:38,080 --> 00:10:41,800 Speaker 1: mission with the greater good. They don't just thrive, they 169 00:10:41,840 --> 00:10:43,320 Speaker 1: create lasting change. 170 00:10:44,240 --> 00:10:47,000 Speaker 2: If we want to do something good for society, we 171 00:10:47,120 --> 00:10:49,720 Speaker 2: want to put the people in a position that they 172 00:10:49,760 --> 00:10:53,640 Speaker 2: can feel happy, that the purpose of the company and 173 00:10:53,720 --> 00:10:57,480 Speaker 2: their own life purpose are fully aligned, and that they 174 00:10:57,640 --> 00:11:00,520 Speaker 2: are a good part of society whenever they are in 175 00:11:00,640 --> 00:11:01,800 Speaker 2: the company and when they. 176 00:11:01,679 --> 00:11:05,079 Speaker 3: Are outside the company, so that it's doing with compassion. 177 00:11:06,040 --> 00:11:10,679 Speaker 1: B Grim empowering the world compassionately h