{"id":5087,"date":"2023-10-20T12:50:00","date_gmt":"2023-10-20T05:50:00","guid":{"rendered":"https:\/\/trueblog.info\/blog\/?p=5087"},"modified":"2023-10-26T16:50:34","modified_gmt":"2023-10-26T09:50:34","slug":"cmd-future-ready","status":"publish","type":"post","link":"https:\/\/www.true.th\/blog\/en\/cmd-future-ready\/","title":{"rendered":"Capital Markets Day Unveils Timeline of True Corporation’s Transformation into a Telecom-Tech Company"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

True Corporation (True) organized its first Capital Markets Day<\/a> at True Digital Park. This event marked a significant milestone, taking place approximately seven months following the successful merger of Total Access Communication Public Company Limited and True Corporation Public Company Limited on March 1, 2023. In this article, True Blog<\/em> summarized the main highlights shared by True\u2019s top executives at Capital Markets Day.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Becoming a Telecom-Tech Company<\/b><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

\u201cFollowing the successful amalgamation, we announced our vision to become Thailand\u2019s leading telecom-tech company that transforms the lives of Thai people and propels businesses to the forefront of digital economy. Combining financial and human resources has paved the way for True to achieve this vision.\u201d Manat Manavutiveth, Chief Executive Officer of True Corporation Plc<\/strong>, stated. He revealed the combined synergies valued at THB 250 billion in Net Present Value (NPV).<\/p>

\u00a0<\/p>

The consolidation of financial resources is set to advance True’s strategic pillars in four key areas:<\/p>

\u00a0<\/p>

  1. Growth:<\/em><\/strong> Under the growth-focused strategic pillars, True is committed to driving non-telecom growth by offering services that improve the lives of Thai people and raise the standards for enterprise customers, contributing to Thailand\u2019s transition into a fully-fledged digital economy.<\/li>
  2. Value Creation: <\/em><\/strong>To drive value creation, True is directing its efforts towards the integration of network infrastructure, employing a \u2018Single Grid\u2019 approach. Through this, True is establishing itself as the undisputed leader in network and digital infrastructure.<\/li>
  3. Organization: <\/em><\/strong>Within this strategic pillar, True is dedicated to transforming and modernizing both its organization and workforce to become future-ready, ensuring they can adapt to shifting business landscapes and changing customer demands.<\/li>
  4. Sustainability<\/em><\/strong>: <\/em><\/strong>Under the sustainability pillar, True is committed to mitigating its impact on the environmental, social, and governance (ESG) within the communities it operates. These initiatives are focused on:<\/li><\/ol>
    • Environment (E): <\/strong>True aims to achieve Zero Landfill for electronic waste, attain Carbon Neutrality by 2030, and work towards Net Zero Emissions by 2050.<\/li>
    • Social (S):<\/strong> True\u2019s network coverage on 4G reaches 99% of the Thai population and 5G is expected to reach 97% of the population by 2026. Moreover, True has already upskilled 34 million individuals online and fostered 2,700 startups within the True Digital Park ecosystem.<\/li>
    • Governance (G): <\/strong>True is ensuring that all its employees receive anti-corruption training, enhancing privacy and cybersecurity standards to align with international best practices, subjecting Tier 1 suppliers to ESG audits, and requiring network partners to comply with the Science Based Target initiative (SBTI).<\/li><\/ul>

      \u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

      \n\t\t\t\t\t\t
      \n\t\t\t\t\t
      \n\t\t\t
      \n\t\t\t\t\t\t
      \n\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
      \n\t\t\t\t\t\t
      \n\t\t\t\t\t
      \n\t\t\t
      \n\t\t\t\t\t\t
      \n\t\t\t\t
      \n\t\t\t\t\t

      Unlocking the \u2018Beyond Connectivity\u2019 Strategy<\/b><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
      \n\t\t\t\t\t\t
      \n\t\t\t\t\t
      \n\t\t\t
      \n\t\t\t\t\t\t
      \n\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t

      According to Sharad Mehrotra, True Corporation\u2019s Deputy Chief Executive Officer<\/strong>, the Single Grid approach is integral to True\u2019s network and IT modernization strategy, aimed at optimizing the strengths of both networks and consolidation into one, maximizing efficiency while pooling spectrum to provide customers an enhanced experience with deeper and wider coverage. True\u2019s diverse portfolio opens doors to an expanded range of services beyond basic connectivity, including API enablement, cybersecurity, and cloud computing. These specialized \u2018vertical\u2019 services are not only essential for building a competitive edge in the digital era but also critical for True\u2019 transformation into a telecom-tech company.<\/p>

      \u00a0<\/p>

      The transformation of True\u2019s infrastructure will serve as a springboard for the company in boosting efficiency and productivity, especially in untapped sectors with ample growth potential. This transformation is expected to be a driving force in the 5G era, with forecasts suggesting that True Group’s revenue from non-telecom services will “double” by 2026. These services include network, IoT, cybersecurity, and smart solutions customized for vertical industries like industrial plants, retailers, property developers, and the agricultural sector. Additionally, these services can evolve with changing technology trends, including the introduction of API platforms for small businesses, cutting-edge cloud services, and advanced AI-based solutions.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

      \n\t\t\t\t\t\t
      \n\t\t\t\t\t
      \n\t\t\t
      \n\t\t\t\t\t\t
      \n\t\t\t\t
      \n\t\t\t\t\t

      THB 250 billion in synergies<\/b><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
      \n\t\t\t\t\t\t
      \n\t\t\t\t\t
      \n\t\t\t
      \n\t\t\t\t\t\t
      \n\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t

      Nakul Sehgal, True Corporation\u2019s Co-Chief Financial Officer, <\/strong>reflected upon the 100+ initiatives which contribute to the THB 250 billion synergies, with the top 15 driving 85% of all synergy values. The bulk of the integration related spending will be taking place by 2024, as a result of which the company will achieve net positive synergies in 2025, becoming profitable. True will realize steady state cashflow savings of approximately THB 22 billion 2026 onwards.<\/p>

      \u00a0<\/p>

      The synergies will be realized from four key areas:<\/p>

      \u00a0<\/p>

      1. Technology & IT, which encompasses the benefits realized through the execution of single grid, efficiency achieved on capex spending by combining the two networks, as well as modernization of the IT infrastructure.<\/li>
      2. Unified Organization & Operations, which accounts for the benefits coming from the modernization of the organization and operating models through automation, digitization, and simplification. The benefits to be realized from operations include streamlining of commercial operations such as reduction of overlapping shops, using the best commission rates between dtac and True, as well as implement the best practices in collection management. HR & Admin areas include streamlining of office locations and reduction of floor space and costs, along with decommissioning duplicate HR platforms.<\/li>
      3. Procurement at Scale, which implements the best price between dtac and True, as well as renegotiating with key vendors by leveraging the new company\u2019s volume to further reduce prices. Additionally, procurement synergies are benefitted by best practice supplier contract management through the expertise of global partners such as Telenor Procurement Company.<\/li>
      4. Other areas of synergy realization mainly comes from revenue synergies from potential cross-selling of convergence offers to dtac\/True customer bases.<\/li><\/ol>

        \u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

        \n\t\t\t
        \n\t\t\t\t\t\t
        \n\t\t\t\t
        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
        \n\t\t\t\t\t\t
        \n\t\t\t\t\t
        \n\t\t\t
        \n\t\t\t\t\t\t
        \n\t\t\t\t
        \n\t\t\t\t\t\t\t\t\t

        With continued focus on structural optimization of costs, sweating of assets and profitable growth, EBTIDA will grow faster than Service Revenue, with EBITDA to Service Revenue Margin expected to improve 11 pp by 2027. Benefiting from procurement synergies and Single Grid including spectrum pooling, disciplined capex management which has been engrained in our way of work, the CAPEX intensity of True is expected to be half of pre-amalgamation levels after the completion of network consolidation. As a leading technology provider with competitive edge from the strengths of our shareholders, True Corporation is well positioned in Thailand to grab untapped opportunities and deliver value for all stakeholders.\u201d<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

        \n\t\t\t\t\t\t
        \n\t\t\t\t\t
        \n\t\t\t
        \n\t\t\t\t\t\t
        \n\t\t\t\t
        \n\t\t\t\t\t

        Embarking on the Transformation Journey<\/b><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
        \n\t\t\t\t\t\t
        \n\t\t\t\t\t
        \n\t\t\t
        \n\t\t\t\t\t\t
        \n\t\t\t\t
        \n\t\t\t\t\t\t\t\t\t

        Sarinra Wongsuppaluk, True Corporation\u2019s Chief Human Resources Officer<\/strong>, stated, \u201cAs we embark on a transformation into a telecom-tech company, we aim to cultivate a performance-driven culture and leapfrog our employees\u2019 capabilities\u201d<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

        \n\t\t\t\t\t\t
        \n\t\t\t\t\t
        \n\t\t\t
        \n\t\t\t\t\t\t
        \n\t\t\t\t
        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
        \n\t\t\t
        \n\t\t\t\t\t\t
        \n\t\t\t\t
        \n\t\t\t\t\t\t\t\t\t

        This mission encompasses four key elements:<\/p>

        \u00a0<\/p>

        1. Ensuring that True is appropriately sized and structured to align with its business direction and the evolving business environment.<\/li>
        2. Developing a new operational model focused on modernization, simplification, and automation, while promoting a cross-functional approach to work.<\/li>
        3. Advancing the workforce’s capabilities through upskilling and reskilling efforts.<\/li>
        4. Reinforcing the talent pool with succession planning, retention strategies, and the cultivation of a future-ready workforce.<\/li><\/ol>

          \u00a0<\/p>

          According to Ms. Sarinra, True’s transformation embraces a ‘Co-Creation’ approach that involves all employees in shaping the company\u2019s culture and behaviors from the ground up. This collaborative effort is facilitated through methods such as the Organization Health Survey, Mirror Workshops, and Value Workshops. True also regularly conducts employee satisfaction surveys to actively gather employee feedback, which helps foster stronger employee engagement and empowerment.<\/p>

          \u00a0<\/p>

          Following the merger, True is accelerating its transformation journey with a clearly defined roadmap, focusing on bottom-up value creation and the cultivation of a corporate culture. While transforming a sizable publicly listed company like True presents its challenges, the company is well-equipped to navigate this transformation successfully and on track to become the region\u2019s leading telecom-tech company, thanks to the combined strengths and expertise of both True and dtac, along with the support from its major shareholders, Charoen Pokphand Group and Telenor Group. <\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

          \n\t\t\t\t\t\t
          \n\t\t\t\t\t
          \n\t\t\t
          \n\t\t\t\t\t\t
          \n\t\t\t\t
          \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
          \n\t\t\t\t\t\t
          \n\t\t\t\t\t
          \n\t\t\t
          \n\t\t\t\t\t\t
          \n\t\t\t\t
          \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
          \n\t\t\t\t\t\t
          \n\t\t\t\t\t
          \n\t\t\t
          \n\t\t\t\t\t\t
          \n\t\t\t\t
          \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

          True Corporation (True) organized its first Capital Markets Day at True Digital Park. This event marked a significant milestone, taking place approximately seven months following the successful merger of Total Access Communication Public Company Limited and True Corporation Public Company Limited on March 1, 2023. In this article, True Blog summarized the main highlights shared […]<\/p>\n","protected":false},"author":2,"featured_media":5070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[147,292],"tags":[360],"class_list":["post-5087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-en","category-culture-en","tag-quarterlyresults-en"],"acf":[],"author_data":{"id":2,"name":"True Blog Team","avatar":"https:\/\/secure.gravatar.com\/avatar\/09ce4bad220763db03bedaef2d0f675dea27f54b224f90103bc7d9e8cf43f1c9?s=96&d=mm&r=g"},"_links":{"self":[{"href":"https:\/\/www.true.th\/blog\/wp-json\/wp\/v2\/posts\/5087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.true.th\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.true.th\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.true.th\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.true.th\/blog\/wp-json\/wp\/v2\/comments?post=5087"}],"version-history":[{"count":12,"href":"https:\/\/www.true.th\/blog\/wp-json\/wp\/v2\/posts\/5087\/revisions"}],"predecessor-version":[{"id":5300,"href":"https:\/\/www.true.th\/blog\/wp-json\/wp\/v2\/posts\/5087\/revisions\/5300"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.true.th\/blog\/wp-json\/wp\/v2\/media\/5070"}],"wp:attachment":[{"href":"https:\/\/www.true.th\/blog\/wp-json\/wp\/v2\/media?parent=5087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.true.th\/blog\/wp-json\/wp\/v2\/categories?post=5087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.true.th\/blog\/wp-json\/wp\/v2\/tags?post=5087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}