
Crisis as Catalyst: How Some Businesses Transformed Pain into Power
These are high-performing companies and trailblazers. This year's winners are leading the way through innovation, from adopting AI and strengthening cybersecurity to integrating ESG values into their core operations. They show us that profitability and purpose can, and should, go hand in hand.
Recent data from SME Corp Malaysia backs this up. According to its latest performance report, over half (55.6%) of Malaysian SMEs are prioritising innovation, nearly 40% are forming strategic alliances, and a third are actively pursuing international markets. These are dynamic, forward-looking businesses shaping the future economy.
The Golden Bull Award goes beyond celebrating success to enabling growth. As 80.7% of SMEs ramp up marketing efforts and 64.5% plan to scale their operations, the Award opens doors, connecting ambitious businesses with the networks, platforms, and partnerships they need to thrive.
Organised by Business Media International with the support of the Small and Medium Enterprises Association of Malaysia (SAMENTA) since 2003, the Golden Bull Award stands as Asia's longest-running and most respected recognition platform for SMEs. Its footprint spans Malaysia, Singapore, mainland China, and Taiwan, and continues to grow across the region.
This year saw a record 19% increase in nominations, to over 1,700 companies. This highlights the rising aspirations of Malaysian SMEs. With SMEs contributing 39.1% to Malaysia's GDP in 2023 and national targets aiming for 45% by 2025, their contribution is more critical than ever.
"This year's Golden Bull Award is a testament not just to business success, but to business evolution," said Datuk William Ng, National President of SAMENTA. "Our winners reflect the best of Malaysia's entrepreneurial spirit: resilient, bold, and future-ready. With stronger government backing, they're will be able reach even greater heights."
The awards span three categories:
A special Distinguished Bull Award was also presented to ten outstanding businesses that have previously won and continued to grow and expand their reach.
Throughout the selection process, integrity and transparency remain paramount. Baker Tilly Malaysia served as the official auditor, while CTOS Data Systems Sdn Bhd acted as the independent credit report and data provider.
Since its founding in 2003, the Golden Bull Award has stood as a benchmark of SME excellence across Asia. With expansion into new Asia Pacific markets on the horizon for 2025, it continues to spotlight the region's most inspiring business stories.
SUPER GOLDEN BULL CATEGORY
1. Advantage Marine Services (Malaysia) Sdn Bhd
2. Gaido (M) Sdn Bhd
3. Golden Destinations
4. Hong Seng Power Sdn Bhd
5. Master-Pack Group Berhad
6. OSADI Commercial Supplies Sdn Bhd
7. Parkson Credit Sdn Bhd
8. Saint-Gobain Malaysia Sdn Bhd
9. Siacon Technology Sdn Bhd
10. Sri Perkasa Trading (M) Sdn Bhd
11. ST Rosyam Mart Sdn Bhd
12. Syarikat Perumahan Negara Berhad
13. Tan Boon Ming Sdn Bhd
14. Terberg Tractors Malaysia Sdn Bhd
15. Vape Empire Distribution Sdn Bhd
OUTSTANDING BULL AWARD
16. Adamas Contracts Sdn Bhd
17. AESD International (M) Sdn Bhd
18. Akaido Marketing Sdn Bhd
19. Alam-Con Sdn Bhd
20. Allied Forklift (M) Sdn Bhd
21. Altus Oil & Gas Malaysia Sdn Bhd
22. Aluspace Sdn Bhd
23. Animal Medical Centre Sdn Bhd
24. ATEK Technology Sdn Bhd
25. Benz Auto Service (M) Sdn Bhd
26. BP Chiropractic Sdn Bhd
27. Cangkat Bayu Maju Sdn Bhd
28. Ceres Nutrition Sdn Bhd
29. Cert Academy Sdn Bhd
30. CID Realtors Sdn Bhd
31. Contacthings Solution Sdn Bhd
32. E Mark Global Trade Sdn Bhd
33. Essential Engineering Solution Sdn Bhd
34. Estream Software Sdn Bhd
35. Eternalgy Sdn Bhd
36. Evertools Industrial Supply Sdn Bhd
37. Fiskal Jitu Sdn Bhd
38. Fong Hong (M) Sdn Bhd
39. Foo Hing Dim Sum Sdn Bhd
40. Fuyu Dezain Sdn Bhd
41. Gee Seng Industrial Parts & Hoist Supply Sdn Bhd
42. GFS Technology Sdn Bhd
43. GME Greentech Sdn Bhd
44. HBT Food & Beverage Sdn Bhd
45. HFC Tech Sdn Bhd
46. Hock Lian Hin Sdn Bhd
47. Hon Engineering Sdn Bhd
48. IDMS Technologies Sdn Bhd
49. Ins Tech International Sdn Bhd
50. IP Logistics (M) Sdn Bhd
51. ISEP (M) Sdn Bhd
52. Itech System Engineering Sdn Bhd
53. JBR Hardware & Trading Sdn Bhd
54. Jo Mama Online Shop Sdn Bhd
55. JV Global Event Sdn Bhd
56. Kibaru Manufacturing Sdn Bhd
57. KMB Resources Sdn Bhd
58. Kwang Tai Refrigerators & Electrical Sdn Bhd
59. Kymm Seng Trading (Kulim) Sdn Bhd
60. Leaderland Era Sdn Bhd
61. Lian Heng M&E Sdn Bhd
62. Liconlite Engineering Sdn Bhd
63. LifeWave (M) Sdn Bhd
64. LINGTEC Instruments Sdn Bhd
65. LM Equipment Sdn Bhd
66. LMS Education Holdings Sdn Bhd
67. M Summit Group
68. Mana Mana Suites Sdn Bhd
69. Mapo Industries Sdn Bhd
70. Max Star Project Management Sdn Bhd
71. MCDS Bhd
72. Ming Supply Sdn Bhd (Ming Lighting)
73. MM Network Sdn Bhd
74. Monzone Air-Conditioning Sdn Bhd
75. MR Academy International Sdn Bhd
76. Multiworld Freight (M) Sdn Bhd
77. My Flavor Food Sdn Bhd
78. Nero Chemical Sdn Bhd
79. Nursery Hong Soon Sdn Bhd
80. Ometick Tooling Sdn Bhd
81. One Union Group Sdn Bhd
82. Oxwise (M) Sdn Bhd
83. Paramount Premix Sdn Bhd
84. Pasaraya T.S. Mega (Cheras) Sdn Bhd
85. Perniagaan Yik Sing Sdn Bhd
86. PMX Delight Holding Sdn Bhd
87. Print Expert Sdn Bhd
88. Pro E Sdn Bhd
89. Pro Life Medical Supplies Sdn Bhd
90. R-Tech Global (Malaysia) Sdn Bhd
91. Raddish Technology Sdn Bhd
92. Raiden M & E Sdn Bhd
93. REDBOX
94. Rezo Group Sdn Bhd
95. Risguard Sdn Bhd
96. Rohe Interior Sdn Bhd
97. SF Techlogis Sdn Bhd
98. Shimlen Sdn Bhd
99. Sin Soon Fa Fruits Sdn Bhd
100.SKA Transport (M) Sdn Bhd
101.SKN Industrial Supplies Sdn Bhd
102.Sri Maju Cergas Logistics Sdn Bhd
103.SRKK Technology Sdn Bhd
104.SSH Manufacturing Sdn Bhd
105.Straits Commnet Solutions Sdn Bhd
106.Super Power Supply (M) Sdn Bhd
107.Surian Creations Sdn Bhd
108.Swee Seng Electrical Engineering Sdn Bhd
109.Tay Motors (M) Sdn Bhd
110.Tayopack Sdn Bhd
111.Tian Siang BP (Ipoh) Sdn Bhd
112.TIP Design (M) Sdn Bhd
113.TLH Solution (M) Sdn Bhd
114.TNS Shipping Sdn Bhd
115.TP Power (M) Sdn Bhd (TP TEC Holding Berhad)
116.UKM Pakarunding Sdn Bhd
117.VHL Logistics Sdn Bhd
118.Vision Mission Cleaning Sdn Bhd
119.Visko Industries Sdn Bhd
120.YLI Industry Sdn Bhd
121.YPS Technology Sdn Bhd
EMERGING BULL AWARD
122.ACS Project Management Sdn Bhd
123.Alphas Estate Solutions Sdn Bhd
124.ALW Technology Sdn Bhd
125.Astra Online Sdn Bhd
126.AVS Integrators Sdn Bhd
127.BENJ Design Sdn Bhd
128.Best Sewing World (M) Sdn Bhd
129.Centrionics Sdn Bhd
130.Chmiel Global Advisory Sdn Bhd
131.CPT Training Development Sdn Bhd
132.Dang Foods Trading
133.Dream Home Structural Works Sdn Bhd
134.Eaglesview Group Sdn Bhd
135.Ecobex Resources Sdn Bhd
136.EF Store Sdn Bhd
137.Epro Precision Engineering Sdn Bhd
138.Evoway Sdn Bhd
139.Evrypawdy Sdn Bhd
140.Excel Test Sdn Bhd
141.FDCV Group Sdn Bhd
142.Fuwave Design Sdn Bhd
143.Goflex Events
144.H & H First Consultancy Group Sdn Bhd
145.H&H Health Group Sdn Bhd
146.Happy Plantations (Kota Marudu) Sdn Bhd
147.High Pines Training And Consultancy Sdn Bhd
148.Inhome Solar Sdn Bhd
149.Journal Multi Media Sdn Bhd
150.Lee Sportswear International Sdn Bhd (Spin Sportswear)
151.Livinghome Furniture Design Sdn Bhd
152.Monogram Concepts Sdn Bhd
153.My Wealth Capital Sdn Bhd
154.Nexxg Worldwide Sdn Bhd
155.One Search Pro Marketing Sdn Bhd
156.Pi Interactive Sdn Bhd
157.Red Abstract Hair Studio Sdn Bhd
158.Seamarine Frozen Food & Supply
159.Seng Seng Hardware Sdn Bhd
160.Solid Real Estate Consultants Sdn Bhd
161.Spartan Ives Capital Sdn Bhd
162.TCW Solomon Realty Sdn Bhd
163.Technics Minerals Resources Sdn Bhd
164.Topkrete Sdn Bhd
165.Trading Castle PLT
166.Usahamaju Magnet Sdn Bhd
167.Vanta Capital Sdn Bhd
168.Various Intelligence Sdn Bhd
DISTINGUISHED BULL AWARDS
169.Always Marketing (M) Sdn Bhd
170.Cabe (M) Sdn Bhd
171.Chinhan Tech Sdn Bhd
172.Gold Key FNB Sdn Bhd
173.Green Island Feed Mills Sdn Bhd
174.INK Marketing Sdn Bhd
175.Precious Precious Sdn Bhd
176.Realux Sdn Bhd
177.Teamplete Sdn Bhd
178.Worldwise Freight (M) Sdn Bhd
DIGITAL 50 AWARDS
1. Always Marketing (M) Sdn Bhd
2. Golden Destinations
3. HFC Tech Sdn Bhd
4. IDMS Technologies Sdn Bhd
5. Parkson Credit Sdn Bhd
6. Pi Interactive Sdn Bhd
7. Swee Seng Electrical Engineering Sdn Bhd
8. Tan Boon Ming Sdn Bhd
9. Tian Siang BP (Ipoh) Sdn Bhd
10. Various Intelligence Sdn Bhd
GOLDEN BULL INSPIRATIONAL ENTREPRENEUR AWARDS
1. Mr. Lim Ann Shen - Alphas Estate Solutions Sdn Bhd
2. Mr. Patrick Goh - Always Marketing (M) Sdn Bhd
3. Dr. Hii Ding Ong - Ceres Nutrition Sdn Bhd
4. Ms. Christine Tan - Estream Software Sdn Bhd
5. Mr. Lim Boon Hoe - Gaido (M) Sdn Bhd
6. Mr. Eric Yap - GME Greentech Sdn Bhd
7. Mr. Mita Lim - Golden Destinations
8. Ms. Kristy Liew - INK Marketing Sdn Bhd
9. Mr. Jenson Heng Kheng Hong - Mapo Industries Sdn Bhd
10. Mr. Teoh Beng Swee - Pasaraya T.S. Mega (Cheras) Sdn Bhd
11. Mr. Benjamin Ku - SSH Manufacturing Sdn Bhd
12. Mr. Eric Mong - TNS Shipping Sdn Bhd
13. Mr. Zac Oh - Vape Empire Distribution Sdn Bhd
14. Mr. Andrew Teow - Advantage Marine Services (Malaysia) Sdn Bhd
15. Mr. Nga Hock Ee - Aluspace Sdn Bhd
16. Mr. Georg Chmiel - Chmiel Global Advisory Sdn Bhd
17. Mr. George Wong Wei Hong - Gold Key FNB Sdn Bhd
18. Mr. Allen Goh Soo Loon - Green Island Feed Mills Sdn Bhd
19. Dr. Hiew Boon Thong - Happy Plantations (Kota Marudu) Sdn Bhd
20. Mr. Noel Chuah Chong Tatt - IDMS Technologies Sdn Bhd
21. Ms. Josephine Quay Huei Ming - Jo Mama Online Shop Sdn Bhd
22. Mr. Andy Cheong Kah Yee - Raiden M & E Sdn Bhd
23. Mr. Ooi Chi Yang - Raiden M & E Sdn Bhd
24. Datin Pang Mei Mei - Risguard Sdn Bhd
25. Dr. Sia Tian Poh - Siacon Technology Sdn Bhd
26. Mr. Khoo Sze Chyuan - Sri Maju Cergas Logistics Sdn Bhd
27. Datin Sri Jenny Hing Puey Ling - Sri Perkasa Trading (M) Sdn Bhd
28. Datuk Lawrence Leow Fong Peng - Teamplete Sdn Bhd
About Business Media International
Business Media International is a subsidiary of Audience Analytics Limited (1AZ.SG), a regional leader in promoting growth for companies in Asia through data-driven brands and initiatives. BMI owns renowned media brands such as SME Magazine, HR Asia, Capital Asia, Energy Asia, Logistics Asia, TruthTV, and CXP Asia as well as business impact assessment brands such as SME100, HR Asia Best Companies to Work for in Asia, Golden Bull Awards and CXP Asia Best Customer Experience Awards. BMI also organises various exhibitions and has the proprietary software-as-a-service — Total Engagement Assessment Model – in its portfolio.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Korea Herald
3 hours ago
- Korea Herald
CLO Unveils the zFab Kit: a Revolutionary AI-Powered Fabric Digitization System
NEW YORK, July 30, 2025 /PRNewswire/ -- CLO Virtual Fashion, an industry leader in 3D garment visualization and design technology, announced the launch of the all-new CLO zFab Kit, a groundbreaking fabric digitization system set to transform the apparel and textile industries. The CLO zFab Kit, which includes three innovative devices—the zFab Cutter, the zFab Draper, and the zFab Scanner—will be available exclusively to CLO's Enterprise clients. In conjunction with the company's recent acquisition of swatchbook, the launch of the new zFab Kit places CLO as the world's leading digital fabrics solutions provider. CLO's new solution, powered by CLO's state of the art AI technology, is designed to dramatically accelerate the fabric digitization process, enabling brands, vendors and suppliers - including accessory suppliers and fabric mills - to create accurate, high-quality digital representations of fabrics with unprecedented ease and precision. By integrating the zFab Kit into their workflow, CLO users can anticipate these benefits: 1. Superior Accuracy: The CLO zFab Kit dramatically cuts down errors during manual measurements. The system allows for streamlined cutting and analysis of the fabric's physical qualities, ensuring digital versions in CLO are precise and reliable for use in design and production. 2. Enhanced Automation: Powered by CLO's AI technology, the CLO zFab Kit automates the digitization process, significantly increasing speed, efficiency and accuracy for users. 3. Seamless Integration: The CLO zFab Kit is designed to work effortlessly with CLO's existing suite of 3D design products and services, making it a breeze to work with high-quality digital fabric files within and beyond the CLO ecosystem. "As the industry moves rapidly toward digital workflows powered by AI, fabric digitization is becoming essential to stay competitive. With our new CLO zFab Kit, we're taking it to the next level" said Simon Kim, CEO at CLO Virtual Fashion. "Our unique approach - using our vast trove of fabric data amassed over many years computed via CLO's AI technology - not only enhances the quality and accuracy of fabric representation, but also significantly reduces the time and resources needed compared to previous hardware and methods. Early adopters are already seeing faster sampling and stronger cross-team/industry collaboration. It also requires minimal setup and training times, and can scale across teams of any size with limited resources. We can't wait to see how our users around the globe adopt and use the zFab kit to elevate their design processes." CLO's Enterprise tier users can express their interest in the CLO zFab Kit and pre-order now by contacting their CLO representative in their respective regions. For more information about the CLO zFab Kit and to stay updated on the launch, visit About CLO Virtual Fashion: CLO Virtual Fashion is the creator of CLO, the leading 3D fashion design software used and trusted by designers, small businesses, and titans of the fashion industry to achieve a seamless digital workflow. With over two decades of research and development in accurate garment simulation, CLO Virtual Fashion's mission is to empower users at every step of the garment journey, from concept to design, fitting to manufacturing, from styling to marketing. In addition to 3D garment design software, CLO Virtual Fashion's products include CLO-SET (a digital collaboration platform), CONNECT (a digital fashion hub and marketplace), and consumer-facing solutions such as e-commerce virtual fittings. CLO's interconnected and ever-growing product ecosystem is built to power the future of everything related to garments.


Korea Herald
4 hours ago
- Korea Herald
Thailand EV Board Adjusts EV3, EV3.5 Terms to Promote Exports as Investment in EV Supply Chain Tops 137 Billion Baht
BANGKOK, July 30, 2025 /PRNewswire/ -- Thailand's National Electric Vehicle Policy Committee (EV Board), today approved adjustments to the so-called EV3 and EV3.5 incentive packages to encourage the manufacturers of battery electric vehicles (BEV) to use the country as an export base. The two incentive schemes require manufacturers to produce locally to compensate for the vehicles they imported since the start of the EV subsidies program in 2022 before they started local production. Under the new adjustments, 1 vehicle produced for export will be accounted as 1.5 vehicle, making it easier for carmakers to meet their production commitments. This approach, proposed by the Federation of Thai Industries (FTI), is expected to increase the number of electric vehicle exports to approximately 12,500 units in 2025 and approximately 52,000 units in 2026. The board also approved a proposal to extend by one month the registration period for vehicles produced for the domestic market and strengthen subsidy payments to enhance the effectiveness of the measures. The board, chaired by Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, also acknowledged a report showing the progress seen in the sector and demonstrating the policy's success, including the total amount of investment in the local EV supply chain which has reached 137.7 billion baht (ca. USD 4.2 billion) as of end-June 2025. On the consumer side, a total of 175,064 BEV cars and 34,559 electric motorcycles have so far been granted subsidies totaling over 12 billion baht under the EV 3.0 and EV 3.5 schemes. "The EV Board acknowledged the continued expansion of the EV sector in Thailand and took steps to allow further growth and encourage manufacturers to export more," Mr. Narit Therdsteerasukdi, Secretary General of the Thailand Board of Investment (BOI), who is also the secretary of the EV Board, told reporters at a press conference held after the EV Board meeting at the Ministry of Finance in Bangkok. "The revisions approved today will allow greater flexibility and help Thailand, which is already the leader in the region's automotive manufacturing industry, to become a key EV production base." In the first half of 2025, a total of 57,289 new BEV passenger cars were registered in Thailand, a 52.4% increase compared to the same period of last year, accounting for 15% of all new passenger car registrations. For the whole of 2024, a total of 70,582 BEV passenger cars were registered. A total of 203,000 BEV passenger cars is on the road in the country, along with 71,900 electric motorcycles, 3,800 electric buses and trucks, and 1,000 three-wheeled electric tuk tuks. Regarding the charging network, a key infrastructure for the EV sector, a total of 3,720 charging stations were in operation around the country as of March 2025. Out of the 11,622 installed chargers, 6,524 were DC fast chargers, some 48% more than the 4,400 that had been expected for this year in the initial EV sector development plan. The plan expects the number of DC fast chargers to total 12,000 by 2030. Under the "30@30" policy, Thailand aims for at least 30% of vehicles produced in Thailand to be electric vehicles by 2030. Currently, 27 companies are participating in the EV3 scheme, including 16 electric passenger car and pickup truck manufacturers, and 11 electric motorcycle manufacturers. Ten companies are participating in the EV3.5 measure, all of which are passenger car manufacturers already participating in EV3. Rising Investments in the EV Supply Chain Cumulative approved investments in the manufacturing of electric vehicles, key components, charging systems, and battery swapping services total 137.7 billion baht, comprising: Details of the Adjustments and Extension Measures As proposed by the Excise Department to facilitate the registration of the high number of BEV cars usually sold around year-end in the domestic market, the registration period for cars under the EV3 and EV3.5 measures has been extended by one month. The EV3 measure requirement that specified the cars had to be "registered by December 31, 2025" has been changed to "sold by December 31, 2025, and registered by January 31, 2026." For the EV3.5 measure, the timeframe has been extended from "registered by December 31, 2027," to "sold by December 31, 2027, and registered by January 31, 2028." The EV Board also approved revised criteria to be used in overseeing the Excise Department's subsidy disbursement under the EV3 and EV3.5 measures to ensure prudent, efficient, and flexible implementation as follows: 1) EV3 participating companies that do not extend the compensatory production period must prepare a compensatory production forecast and report the results monthly. The Excise Department will withhold subsidy payments until they have accumulated at least 50% of the total compensatory production and meet the projected production plan. As for EV3 participants who wish to extend the compensatory production period, or EV3.5 participants, they must prepare a compensatory production forecast. For EV3 participants who wish to extend the compensatory production period, they must provide a bank guarantee of 20 million baht for companies with registered capital of 5 billion baht or more and 40 million baht for companies with registered capital below 5 billion baht. The Excise Department will withhold subsidy disbursement if the eligible recipient's accumulated compensatory production falls below the specified proportion. 2) EV3 participants wishing to extend the compensatory production period are allowed to procure additional production plants to enable the compensatory production to be completed within the specified timeframe. 3) Participants in the EV3 and EV3.5 measures can revise their application for incentives and the number of cars imported for compensatory production. For vehicles that have been imported and registered but have not yet received subsidies, companies can choose to repay the excise tax difference, along with penalties and surcharges, so that these vehicles will not require compensatory production.


Korea Herald
4 hours ago
- Korea Herald
Thailand EV Board Adjusts EV3, EV3.5 Terms to Promote Exports as Investment in EV Supply Chain Tops 137 Billion Baht
BANGKOK, July 30, 2025 /PRNewswire/ -- Thailand's National Electric Vehicle Policy Committee (EV Board), today approved adjustments to the so-called EV3 and EV3.5 incentive packages to encourage the manufacturers of battery electric vehicles (BEV) to use the country as an export base. The two incentive schemes require manufacturers to produce locally to compensate for the vehicles they imported since the start of the EV subsidies program in 2022 before they started local production. Under the new adjustments, 1 vehicle produced for export will be accounted as 1.5 vehicle, making it easier for carmakers to meet their production commitments. This approach, proposed by the Federation of Thai Industries (FTI), is expected to increase the number of electric vehicle exports to approximately 12,500 units in 2025 and approximately 52,000 units in 2026. The board also approved a proposal to extend by one month the registration period for vehicles produced for the domestic market and strengthen subsidy payments to enhance the effectiveness of the measures. The board, chaired by Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, also acknowledged a report showing the progress seen in the sector and demonstrating the policy's success, including the total amount of investment in the local EV supply chain which has reached 137.7 billion baht (ca. USD 4.2 billion) as of end-June 2025. On the consumer side, a total of 175,064 BEV cars and 34,559 electric motorcycles have so far been granted subsidies totaling over 12 billion baht under the EV 3.0 and EV 3.5 schemes. "The EV Board acknowledged the continued expansion of the EV sector in Thailand and took steps to allow further growth and encourage manufacturers to export more," Mr. Narit Therdsteerasukdi, Secretary General of the Thailand Board of Investment (BOI), who is also the secretary of the EV Board, told reporters at a press conference held after the EV Board meeting at the Ministry of Finance in Bangkok. "The revisions approved today will allow greater flexibility and help Thailand, which is already the leader in the region's automotive manufacturing industry, to become a key EV production base." In the first half of 2025, a total of 57,289 new BEV passenger cars were registered in Thailand, a 52.4% increase compared to the same period of last year, accounting for 15% of all new passenger car registrations. For the whole of 2024, a total of 70,582 BEV passenger cars were registered. A total of 203,000 BEV passenger cars is on the road in the country, along with 71,900 electric motorcycles, 3,800 electric buses and trucks, and 1,000 three-wheeled electric tuk tuks. Regarding the charging network, a key infrastructure for the EV sector, a total of 3,720 charging stations were in operation around the country as of March 2025. Out of the 11,622 installed chargers, 6,524 were DC fast chargers, some 48% more than the 4,400 that had been expected for this year in the initial EV sector development plan. The plan expects the number of DC fast chargers to total 12,000 by 2030. Under the "30@30" policy, Thailand aims for at least 30% of vehicles produced in Thailand to be electric vehicles by 2030. Currently, 27 companies are participating in the EV3 scheme, including 16 electric passenger car and pickup truck manufacturers, and 11 electric motorcycle manufacturers. Ten companies are participating in the EV3.5 measure, all of which are passenger car manufacturers already participating in EV3. Rising Investments in the EV Supply Chain Cumulative approved investments in the manufacturing of electric vehicles, key components, charging systems, and battery swapping services total 137.7 billion baht, comprising: Details of the Adjustments and Extension Measures As proposed by the Excise Department to facilitate the registration of the high number of BEV cars usually sold around year-end in the domestic market, the registration period for cars under the EV3 and EV3.5 measures has been extended by one month. The EV3 measure requirement that specified the cars had to be "registered by December 31, 2025" has been changed to "sold by December 31, 2025, and registered by January 31, 2026." For the EV3.5 measure, the timeframe has been extended from "registered by December 31, 2027," to "sold by December 31, 2027, and registered by January 31, 2028." The EV Board also approved revised criteria to be used in overseeing the Excise Department's subsidy disbursement under the EV3 and EV3.5 measures to ensure prudent, efficient, and flexible implementation as follows: 1) EV3 participating companies that do not extend the compensatory production period must prepare a compensatory production forecast and report the results monthly. The Excise Department will withhold subsidy payments until they have accumulated at least 50% of the total compensatory production and meet the projected production plan. As for EV3 participants who wish to extend the compensatory production period, or EV3.5 participants, they must prepare a compensatory production forecast. For EV3 participants who wish to extend the compensatory production period, they must provide a bank guarantee of 20 million baht for companies with registered capital of 5 billion baht or more and 40 million baht for companies with registered capital below 5 billion baht. The Excise Department will withhold subsidy disbursement if the eligible recipient's accumulated compensatory production falls below the specified proportion. 2) EV3 participants wishing to extend the compensatory production period are allowed to procure additional production plants to enable the compensatory production to be completed within the specified timeframe. 3) Participants in the EV3 and EV3.5 measures can revise their application for incentives and the number of cars imported for compensatory production. For vehicles that have been imported and registered but have not yet received subsidies, companies can choose to repay the excise tax difference, along with penalties and surcharges, so that these vehicles will not require compensatory production.