Advance February 2014

A MONTHLY PUBLICATION OF THE AUSTRALIAN-THAI CHAMBER OF COMMERCE IN PARTNERSHIP WITH THE AUSTRALIA THAILAND BUSINESS COUNCIL www.austchamthailand.com February 2014

The Value of Human Capital

in this edition

Conflict Resolution in the Work Place Business brief Transformational Leadership

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Business brief Personality Assessment in Personnel Selection

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Chamber events Australian Alumni End of Year Celebration

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FROM THE CHAMBER Getting to Know AustCham’s New Executive Director

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ATS

specialist mortgage

specialist mortgage

ATS

Contents PATRON His Excellency James Wise Australian Ambassador to the Kingdom of Thailand PRESIDENT Leigh Scott-Kemmis DBM (Thailand) Ltd. VICE PRESIDENTS M.L. Laksasubha Kridakon Baan Laksasubha Resort Hua Hin

10 business briefs 6 Invest in Human Capital: Are You Aware That You Are Losing Money?

9 Transformational Leadership 10 Conflict Resolution in the Work Place 12 Personality Assessment in

Belinda Skinner TopTalentAsia

Personnel Selection 16 Retiring in Thailand

EMBASSY NEWS AND UPDATES 18 New Colombo Plan to Transform Relations with the Region

TREASURER Warwick Kneale Baker Tilly Thailand Limited DIRECTORS David Bell Crestcom-Ra-Kahng Associates Ltd. Josh Hyland AEC South East Asia Co., Ltd. Brenton Mauriello dwp Sam McMahon NS Bluescope (Thailand) Limited Alan Polivnick Watson, Farley & Williams (Thailand) Limited Rananda Rich Blackmores Ltd. Charles Wrightman Natural Ville & Lenotre

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EX OFFICIO Greg Wallis Senior Trade Commissioner, Thailand

chamber events 20 Australian Alumni End of Year Celebration

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COORDINATORS Paul Wilkinson JVK International Movers Ltd. ESB Coordinator Email: paul.wilkinson@jvkmovers.com

AUSTCHAM MEMBERS 22 New Members

Trevor Dick Indochine Asset Management ESB Coordinator Email: trevor@indochine-asset.com

FROM THE CHAMBER 24 ‘Getting to Know’ Renee Bowman, Executive Director

of AustCham 26 Message from the Office

Harry Usher Lady Pie Phuket Coordinator Email: phuket@austchamthailand.com

From the Board

President’s Message Australian-Thai Chamber of Commerce 20th Floor, Thai CC Tower 889 South Sathorn Road Bangkok 10120 Tel.: +66 2 210 0216 Fax: +66 2 675 6696 office@austchamthailand.com www.austchamthailand.com For more information on individual Board Member focus please visit www.austchamthailand.com/ boardmembers

A

big thank you to all of our members and friends for your fantastic support throughout 2013.Let us hope 2014 is a year of great satisfaction for all; not only the Australian cricket team.

We start the year with some obvious challenges, a confused global economic picture and, of course, here in Thailand another round of the march toward finding a workable governing system acceptable to all groups and citizens. As Thailand’s economy is private sector driven and reasonably diversified, the impact on economic growth is usually shallow and the bounce back is fast once disruptions are behind us. Lets hope that continues to be the case.

No doubt a number of you will be adversely affected by the protests. If there is a way you believe that AustCham can help, then please raise the issue with me or Renee. We are not sure what we can do, but at least we can try.

Some of AustCham’s activities have also been disrupted, the Tri Nations BBQ has been deferred and the January Board meeting has also been postponed. However, at this stage the Australia Day golf event, which is being held on 24th January, is happening and will be a great success.

Editorial Committee Belinda Skinner, Rananda Rich, Janna De Vos, Gary Woollacott Marketing & Production Scand-Media Corp. Ltd 4/41-42 Moo 3, Thanyakarn Village Ramintra Soi 14, Bangkok Tel.: +66 2 943-7166/8 Fax: +66 2 943-7169 scandmedia@scandmedia.com Advertising Finn Balslev Email: finn@scandmedia.com Contributions to Advance magazine are welcome. Please submit content to communications@austchamthailand. com by the first day of the month for publication in the following month’s magazine.

Opinions expressed in Advance do not necessarily reflect the views of the Chamber.

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Our new Executive Director, Renee Bowman, is now well and truly in the saddle and we are looking forward to her stamping her own style and passion onto Austcham activities and events. Renee will be working hard in trying to meet with members and to hear your ideas so that we can continue to ensure AustCham is meeting members’ needs. We are working to continue to improve upon the great IT and communication platform that Mark put in place, which has already provided efficiencies for members as well as in the AustCham office.

We are also seeking to deepen our business intelligence service for members and to further improve the effectiveness and quality of all AustCham events.

AustCham works on limited resources and we are very grateful for the continued support from members, our wonderful sponsors as well as some income from events.

As you know, last year saw the introduction of the Australian Business Forum (ABF), funded in part by a grant from the Australian Government. This is a very important initiative for AustCham as we are able to widen and deepen our scope and activities. To date the format has been a presentation by an Australian company or an Australian professional providing real insights to building success in Thailand and a briefing from the Embassy and /or Austrade on issues and activities that are of interest to members.

We are very keen to further build on the success of the ABF initiative in 2014 and are seeking members’ feedback and ideas on how we can further improve on the success we have achieved to date.

Ideas on format, subject matter, locations and alike are sort.

The new Australian Government has stated that Australian foreign policy will be about Economic Diplomacy and we are still seeking to understand how that will play out. However we are blessed in Thailand with an Embassy and an Ambassador that is ahead of the game on practicing Economic diplomacy which has provided real support to Australian businesses, and Australians, operating in Thailand as well as real tangible support for AustCham.

It was a privilege to present the AustCham President’s Award for 2013 to His Excellency James Wise. Thank you James and your team for the support and encouragement.

It’s amazing how quickly time flies. We will need to start thinking about the AustCham AGM in March. A very important part of the AGM is the election of a new Board of Directors for the 2014/15 year, and the chamber is always seeking to deepen and broaden the experience and skills of the members of the board.

Please put up your hand if you feel you can make a contribution.

Leigh Scott-Kemmis President, AustCham Thailand www.austchamthailand.com

February 2014

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business brief

Invest in Human Capital: Are You Aware That You Are Losing Money?

By Robert Bluett and Janna De Vos

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o doubt you have heard this said many times before: People are a company’s most important asset. People drive Six Sigma, initiate reengineering and control total quality management. It is people that make it happen. This is your Human Capital.

Human Capital is a concept that developed in the evolution of people management. It was built on the prominent approach of Human Resources, which focuses on “can do” aspects of people: their training, the recruitment process and company cost minimization. Human Capital goes beyond the “can do” by including “will do” attributes, such as personality and attitude. It considers employees, potential employees as well as the developing and training of these people as investments. Human Capital thus becomes the return you get on the investment in people.

The reality of Human Capital is difficult to live by, however – especially when there is a down turn in the economy. The first thing that happens when a company has to cut costs is that they cut back on staff, because people are seen as a cost that can be managed. People are not viewed as an important asset, rather as a cost that must be diminished to the lowest possible figure.

Such an approach leads to the neglect and underdevelopment of Human Capital. This inevitably eats away at company profits. The only way you can address this challenge is through measuring the outputs of your Human Capital contribution so that you can manage it. To do so, to invest in your people – your Human Capital – and to get the greatest potential returns, companies must follow a few straight forward rules. The first is to think like Warren Buffett – long term.

Investment in Human Capital

Selecting

Developing

Motivating

The other rules make up the DNA of success of investment in Human Capital. These include the successful processes of Recruitment, Training and Rewarding, referred to in this article as selecting, developing and motivating.

Selecting – understanding exactly what you are looking for If your selection process identifies the required candidate within the notice period, ensures that the new recruit is competent within the first twelve weeks, and establishes strong potential that they remain with you for more than the pay-back period, you will ultimately save recruitment and transitional costs, improve output and develop morale. This results in a positive return on your investment, which over time adds up to a substantial sum of money. Many companies unknowingly are throwing this money away.

Employer Recruits Good Candidates Employee Demonstrates Competence

Selecting

Employee Has Desire to Stay Beyond PayBack Period Developing – many happy returns If throughout the training processes, your employees understand what they have to learn, they accomplish competency, they are immediately able to apply what they have learned to their work situation and they improve their performance and behaviour, your return on the investment in your training is far greater than the money invested in the training itself. The net result is that you get an exponential return on your investment.

How many companies have any idea how much money they lose on their training, rather than getting a “Return on Learning Invested” – R.O.L.I.?

Motivating – measuring high performance and added value When you are able to recognise above average performance, because firstly, it is measurable and secondly because each indi-

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AustChamThailand Advance

business brief

Employee Accomplishes Competency Developing

Employee Applies Training to Work Situations Employee Improves Performance and Behaviour

vidual’s contribution can be quantified, you are able to reward appropriately. This leads to a positive engagement of employees who are aligned to customer expectations and results in sustainable market advantage and potentially a massive return on your investment in Human Capital. Few companies actually measure the added value and therefore manage it.

So how is this done? By focusing attention on the “efficiency” and “effectiveness” of your Human Capital – your people – you will achieve the above mentioned benefits and much more.

Your starting point is to measure so that you can manage.

You measure the “outputs” (Key Performance Indicators) in each Key Performance Area for every employee. This is done through two simple processes.

Employer Gives Employee Recognition Motivating

Employee Contribution Quantified Employee Positive Engagement

The first process is the Performance Appraisal, which aligns the measureable outputs for each person so that every person in the company is working towards the same ultimate goal. A coherent effort is always more powerful and effective than an incoherent effort when trying to reach an Objective.

The second process is the Performance Evaluation, which identifies the value added by each individual and team.

Rewards are then allocated according to their particular contributions. It is critical that the contributions are seen in terms of a long term trend. Recent events in Western Countries confirm the hazards that go with short term evaluations and rewards.

The Processes of Performance Appraisal and Performance Evaluation These processes apply to every employee, including the teams driving the Selecting, Developing and Motivating. In this way the systems are managed because they are measured.

They are measured in terms of their Outputs and this is done in short cycle reviews, ensuring that when you go off target you get back on course within the minimum period of time.

So the engine driving the success in investment in Human Capital and giving a good return on this investment is the efficient and effective management of selection, development and motivation.

When you start to see the “green shoots” of development in these areas, then you need to, at the same time, start working in the most critical area which will define your sustainable success – this critical area lies in your management teams.

When you manage your decision-making team, you need to manage their Performance and Behaviour. Behaviour drives performance and is demonstrated in actions which always speak loader than words. The starting point of managing performance and behaviour is your Core Values. Your “values” or “beliefs” are the framework within which behaviour is defined. From the Core Values you define the “Key Success Driving Behaviours” and then you measure Performance and

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February 2014

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business brief

Behaviour, develop Performance and Behaviour and reward Performance and Behaviour.

Measuring Output

Being able to proactively develop and manage your company culture is critical. Your Core Values define your success driving culture and enhance performance. This gives a good return on the investment in your people.

The successful creation of a positive culture within the company is then seen by outsiders as the “Aura that surrounds the company” – this is the Company Brand. The Company Brand is evaluated by the company’s ability to Attract and Retain Talent.

The driving force behind successful investment in Human Capital is your ability to measure and therefore manage your Selection, Development and Motivation. The outcome of this is your ability to Attract and Retain “Talented” people and to create a positive H.R. Brand which will give you an exponential return on your investment in people – the DNA of success.

By exposing the problem through measuring and managing the outputs of the Human Capital Contribution, you see improved efficiency and effectiveness in minimizing costs and increased

1. Establish Core Values

5. Reward Performance & Behaviour

4. Develop Performance & Behaviour

2. Define “Key Success Driving Behaviour

3. Measure Performance & Behaviour

productivity. This is why People are a Company’s greatest asset and your competitive advantage in the future.

For more information on Human Capital systems, please visit http://peopleplusresource.com/

AustCham Bronze Corporate Sponsor: TICON

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February 2014

AustChamThailand Advance

business brief

Transformational Leadership

By Renee Bowman

I

n the face of globalization and fierce rivalry, an astute business will seek to build their capacity through change and innovation. As a leader, this presents a number of intellectual, emotional and behavioural challenges.

Adopting a transformational leadership style is a highly effective and desirable approach during periods of change. This mind-set embraces individual empowerment, relationship building, cultivating a supportive team environment, and engaging staff in decisions-making. It draws on ones charisma, poise, determination and contagious enthusiasm to stimulate passion and instil confidence amongst employees. In recognising the infectious nature of ones personality and behaviour, a leader who has an appetite for challenge, a determination to succeed, and a willingness to change, is more likely to see these attributes mirrored amongst members of their team.

Disposition is only one element to transformational leadership. Leaders should also be proficient at assessing organizational culture and identifying the drivers and implications of change. Risks should be calculated and critical success factors identified before stepping into the unknown. A carefully orchestrated communication plan should also be used to help employees understand the need for change, draw people into a new vision, and manage employee concerns with an acute sense of humility. Being conscious of how people feel, seeking employee opinions and acknowledging their views, will not only convey empathy but will earn greater respect amongst personnel.

Identifying team members who accept and adapt easily to change may provide additional peer support and help achieve systemic buy-in.

Functional competence can also help a leader earn credibility, trust and respect.

Time should be allocated to observe company processes, understand the organisational culture, and walk in the shoes of employees at all levels. Demon-

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strating a strong commitment to Human Resource Development (HRD) via training, education and career planning, can also assist with individual and team development. HRD will ensure that staff continually feel valued and supported, and are empowered to make decisions, take risks and learn from experience.

Providing clearly defined responsibilities can highlight the importance of performance outcomes, while linking expectations to monetary or nonmonetary incentives may further inspire staff to strive for results. Being open to scrutiny and emphasizing that transformational initiatives are a journey whereby stumbling blocks are resolved collaboratively, can add further clout to one’s leadership integrity. Admitting some degree of vulnerability may also strengthen the leader-follower relationship especially if employees believe they have the opportunity to express their opinions and help shape the future of the business.

Of course one should be mindful that desirable change leadership attributes

can vary amongst cultures. Having a deep sense of cultural inquiry, being tolerant of ambiguity, and displaying patience, flexibility and empathy is valued in many populations. Within Thai culture specifically, leaders should be an inspirational and reliable role model and earn their credibility by being sincere, loyal and exhibiting a duty of care towards employees and their families.

Disciplinary action should be performed with tact and discreet mannerisms in order to uphold traditional values and respect. In a culture that is typically averse to risk, competitiveness and assertiveness, Thai employees, regardless of job level, may respond more favourably to a consultative and participative leadership style.

By adopting a transformational leadership style which is culturally aware and shows a genuine commitment to HRD, one may not only achieve a more effective and satisfied workforce, but also greater consistency, higher profits and improved customer satisfaction.

February 2014

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business brief

Conflict Resolution in the Work Place

By David Bell

M

anagers spend about twenty percent of their time trying to manage conflict. Imagine if you could reduce that leaving you more time to focus on more important tasks that will improve growth and profitability? You can.

All it takes is a little knowledge, practice and self-discipline.

There are five myths about conflict.

Conflict Myth #1 is that all conflict is bad.

In fact, conflict can cause us to look at why we are holding so tightly to our view.

It can also help us try to find ways to live more peacefully with other people.

Some workplace conflict can also cause us to question old ways of doing things, resulting in improved systems, even new product innovation.

Conflict Myth #2: all conflict can be resolved. As much as we don’t want to admit it, all conflict cannot be resolved.

There are some deep seated beliefs and feelings that cannot be changed.

However, when differences cannot be resolved, you can always show kindness and respect to each other.

Conflict Myth #3: all personality conflicts cannot be resolved. The fact is that you can learn to understand other people’s personality styles better, you can understand your own personality style, and you can adapt to get along with anybody. In our leadership program we run a fascinating module that focuses on identifying and managing different personality styles.

Conflict Myth #4 is that conflict is about everyone winning. The fact is sometimes you have to yield your position and sometimes you need to do what’s best in the interest of other people.

Conflict Myth #5 is that conflict resolution is an innate, natural ability. In real life situations, we must learn to set aside our

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natural desire to want things our way, so that we can focus on resolving conflict.

In one of our conflict resolution training modules, author Dr Kimberly Alyn suggests that there are three basic types of conflict.

The first type of conflict is your own conflict. In our research conducted in Bangkok amongst mid to upper level managers, we ask participants to “pick one of four words that best reflects your most important core value.” The four words are: Honesty, Kindness, Determination, and Peace. The sample was roughly 50/50 Thais and foreigners.

Without exception, in every group of managers we found the vast majority claimed their core value to be “honesty”! On further discussion most admitted that sometimes they were not always honest. There are many situations where most of us will sacrifice a degree of honesty to be compatible. There was no nationality bias.

Only a very small percentage of them claimed Kindness, Determination or Peace.

The lesson from this little exercise is that we need to be prepared for tough situations that challenge our core values, so we know where we will, and where we will not, compromise!

The second type of conflict is interper-

sonal conflict. This is the most common type that leaders must address in the workplace.

The third type of conflict is group conflict.

This is the sort of conflict that arises between such groups as management and labour unions, or between departments. These conflicts cannot be ignored or avoided.

Group conflict is probably the most significant and serious type of conflict facing the world today. In this article we will not comment on religious or racial group conflict!

So now we get down to how we can handle conflict in the workplace. Perhaps we can start by looking at how we can overcome six barriers to conflict resolution: The first barrier is that we have a natural tendency to get defensive.

The second is that we often tend to dismiss the issue as unimportant. For example: “you’re making too big an issue of this.”

The third barrier is jumping to conclusions without having all the facts! In mediating, you must get both sides of the story.

The fourth barrier is mentally preparing a response instead of listening carefully.

The fifth barrier, is the inability to empathise. The person speaking to you needs

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business brief

to feel you are listening to them, even if you don’t feel the same way.

The sixth barrier is to stay calm! Some of us find this particularly difficult. Do not raise your voice and lose control.

According to Dr Kimberly Alyn, there are six skills you can practice and develop to help resolve conflict.

The first is to listen carefully to what the person is telling you. Do not interrupt. Do not succumb to the temptation of planning your comeback whilst the person is talking. You cannot possibly be listening if you are thinking about your response.

The second is to repeat what you heard.

This technique usually helps contains the persons anger. It also shows the person that you were listening and that you put value to what they said; that you want to understand them correctly.

Thirdly, ask for more. This will confirm that the other person has shared all their issues, or it allows them to vent other details. Again, this usually has a calming effect if the person is emotional.

Fourthly, validate the person’s feelings, e.g. “it makes sense that you would feel that way”. This does not mean that you agree with them on the issue, just that you understand how they feel.

That leads into the next step which is to empathize with the person. “I would also imagine you feel like...”

Finally the sixth step is to respond.

Sometimes the other person will interrupt. If that happens, you need to ask the other party for permission to allow you to continue.

Remember to develop your communication and engagement skills. Seven per

cent of an overall face to face communication is made up words. About 38 per cent of our message is attributed to our tone of voice. 55 per cent is communicated via our facial expressions and body language. This is particularly important in the Thai cultural environment.

Some negatives to watch for: Staring at the floor. No eye contact. Fidgeting.

Scowling. Crossed arms. Some positives: Good eye contact. Leaning forward. Taking notes. Nodding. Both feet on the floor with arms open (not crossed). If you take time to think about what we have discussed in this article, and practice some of these skills and ideas, you will start to become more adept at resolving conflict.

David Bell is Managing Director at Crestcom-Rakahng Associates.

For more information, please visit www. crestcomleadership.com/davidbell.

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February 2014

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business brief

Personality Assessment in Personnel Selection

By Michael G. Anderson, PhD, CPP, Inc

P

ersonality assessments can be a strong predictor of job performance and often times are superior to job interviews. They can also demonstrate less potential for adverse impact than cognitive ability tests. Therefore, it is not surprising that the use of personality assessment for personnel selection is becoming increasingly popular among organisations. In fact, 75 per cent of recently surveyed organisations are currently using, or have considered using, personality assessments for executive selection and development.

Appropriate validated personality assessments are attractive selection tools because they provide a data-based, non-subjective method for identifying high-potential employees who will also fit well within a particular work environment. It is critically important to note that while the term personality assessment is used generically, not all personality assessments are suited for personnel selection. Personality assessments that measure traits are appropriate for selection purposes; measures of psychological type are not designed for, and should not be used in, selection applications.

What Is Personality?

Personality has been defined by N. Brody and H. Ehrlichman as “those thoughts, feelings, desires, intentions, and action tendencies that contribute to important aspects of individuality”. Think of some people you know well. Disregarding physical attributes, how would you describe them individually? Do they enjoy crowds or being alone? Do they keep a strict schedule or go with the flow? Are they self-conscious or confident?

Your answers to questions such as these provide insight into their personality. Personality comprises the psychological preferences, temperaments, and predispositions that, in part, motivate and govern people’s behaviour. Whether they attend social functions, pursue creative endeavours, or follow a regimented schedule is determined, in part, by their personality. Indeed, other factors influence behaviour (e.g. social setting, mood, recent events) as well, but personality is a major force behind individual differences in behavioural tendencies.

How Are Personality Measures Developed?

A vast assortment of personality assessments measure an equally vast collection of personality characteristics. Each assessment, because it is developed according to the author’s unique theory/ perspective, offers a different approach to personality measurement. Some common elements, however, exist across almost all approaches. Personality is a combination of internal, intangible characteristics and therefore cannot be measured directly. Instead, psychologists rely on self-reports of a person’s thoughts, 12

February 2014

feelings, preferences, and/or behaviours to assess personality— that is, they ask people questions about themselves, assign numerical values to their responses, and use these values to generate a portrait of the person taking the assessment.

Each question included in a validated personality assessment will have been carefully crafted to tap a specific personality characteristic. For example, “I enjoy being the centre of attention” may be one indicator of sociability or the extent to which a person is gregarious and outgoing. Single items, however, are not sufficient to assess broad personality characteristics; instead, psychologists look at the pattern of responses across several items.

The goal of personality measurement is to describe individuals as they are seen by others. Responses to personality assessments help classify and differentiate individuals, providing a basis for understanding prior actions and predicting future behaviour.

It is important to note that not all personality assessments are created equal. Any personality assessment used in selection applications must, at a minimum, demonstrate adequate reliability and validity. An assessment is considered reliable if scores remain consistent over time—that is, when an individual completes the assessment on multiple occasions, his or her score should be approximately the same each time. An assessment AustChamThailand Advance

business brief

is considered valid if it is related to other important constructs (e.g. job performance). If a test is used to select individuals for employment, there must be validity evidence to support the accuracy and job relatedness of inferences made on the basis of scores on that assessment.

date. Following the steps outlined in this paper, personality assessments can be a valuable part of a legally and ethically sound selection process that can help determine whether an applicant can perform the job and/or will enjoy the job—increasing predictive validity and reducing the potential for adverse impact.

What Are the Advantages of Using Personality Assessments?

Beyond predictive validity, personality assessments offer several advantages over other types of selection tools. Perhaps most important is that, unlike other types of assessments (e.g. cognitive ability), personality assessments demonstrate little or no adverse impact; that is, they generally do not discriminate against members of protected groups or classes. Cognitive ability tests, for example, can result in adverse impact on certain demographic groups. Personality and integrity tests typically demonstrate only slight differences between important demographic groups (e.g. age, ethnicity, and gender). Therefore, personality assessments can be implemented into selection procedures as a way to increase predictive validity and reduce the potential for adverse impact.

Summary It must be stressed that personality assessments are not to be used as the sole source of information in personnel decisions.

Adding other sources of information (e.g. interviews, simulations) will increase the likelihood of hiring a successful candi-

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This article is an abridged version of the original article, published by CPP, Inc.. Please read the full article on the www.cpp.com website. CPP is a leading publisher and provider of innovative products and services for individual and organizational development. CPP supplies reliable training solutions to businesses of all sizes, including the Fortune 500, for more than 50 years.

Potential is the official partner for CPP in Thailand and Vietnam, and distributor of the Meyers-Briggs Type Indicator (MBTI) – the world’s most widely used personality instrument, now available in Thai. Potential provides assessment for selection and assessments for development of talent.

For further information, please contact Anne Hutton, Managing Consultant, at anne@potentia.co.th or visit www.potentia.co.th

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business brief

Retiring in Thailand

By Angus Mitchell, Matthew Christensen and Pavitra Sakulchaimongkol

in requirement is satisfied, and the retirement visa is renewed for another 90 days.

hailand is one of Asia’s most popular retirement destinations mostly due to its tropical climate, relatively low cost of living, and foreigner-friendly environment. Whether your retirement dream is the Southern beaches with a coconut in hand or being surrounded by nature and rolling hills in the elevated Northern provinces, the amenities offered in the Land of Smiles at times seem endless.

Though Thailand does not have a formal campaign to attract retirees, such as Malaysia’s “Malaysia My Second Home” program, an increasing number of expats are deciding to spend their golden years in Thailand.

Before one is issued the necessary visa to retire in Thailand, specific qualifications must be met including a minimum age of at least 50 years. The following financial requirements must also be met:

they are caught engaging in common retiree activities such as doing some landscaping or minor home improvements on a piece of property they own. In Phuket, more than one foreigner found himself being fined and facing imprisonment for building or refurbishing a boat that belonged to him while on his own property.

• Proof of income of not less than 65,000 Baht per month; or • Possession of a Thai bank account with a continuous balance of not less than 800,000 Baht during the last three months; or • Annual income plus bank account balance totalling no less than 800,000 Baht as of the filing date of the application

Even volunteer work is covered by this definition, which could prove problematic for those altruistic individuals who wish to spend a portion of their newly found free time giving back to their community in a charitable manner. The penalty for engaging in work on a retirement visa, and therefore without a work permit, is a fine of between 2,000 and 100,000 Baht and/ or imprisonment for up to five years.

All foreign retirees require a Non-Immigrant Type O-A visa, also known as the retirement visa, in order to become a resident of Thailand. Retirement visas are granted for a maximum of one year at a time, with every foreign retiree being required to report to their local Immigration Department every 90 days to verify current contact information.

If the application for the Type O-A retirement visa is being made from outside of Thailand, it must include a letter of verification from the country of origin stating that the applicant has no criminal record.

A medical certificate indicating the absence of proscribed diseases must also accompany the application. Both of these documents need to have been issued within the preceding three months and be officially notarized.

A comfortable retirement is something we all aspire to, and many of us even plan for it financially in anticipation. By maintaining awareness of the regulations on retirement visas and the types of activities that are and are not permitted while living in Thailand on such a visa, one can enjoy their retirement free of worries.

T

A common alternative to checking in with Immigration is to embark on a “visa run” to one of the border towns connecting Thailand with its neighbours. Expatriates who exercise this option can either travel by public transport or one of the many private tour companies that offer such services for foreign visa holders. By leaving and then re-entering Thailand, even within the same day, the Immigration check-

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Being employed or otherwise working on a retirement visa is strictly prohibited.

Work, as defined in the Alien Working Act BE 2551(2008) is, exerting energy or using knowledge whether or not in consideration of wages or other benefits. The broadness of this definition has the potential to land foreign retirees in trouble if

The authors of this article are representatives of DFDL, a leading international law firm specialized in emerging markets, with legal and tax expertise in countries across Asia, including Thailand. For more information, please visit www.dfdl. com or contact the authors at the following addresses: Angus Mitchell (angus. mitchell@dfdl.com); Matthew Christensen (matthew.c@dfdl.com); Pavitra Sakulchaimongkol (Pavitra@dfdl.com).

AustChamThailand Advance

is proud to introduce the Corporate Sponsors for 2014 Gold Sponsors Akara Akara Resources PCL is part of the Kingsgate Consolidated group, an Australian Stock Exchange listed precious metals explorer and miner. Akara owns and operates the Chatree Mining Complex, the largest gold mine in Thailand. Since operations commenced in 2001, the mine has produced 1.4 million ounces of gold and 6.2 million ounces of silver. Akara employs over 1,100 people and generates revenue of over $US 200 million per year. It has established world best practices in environmental management, workplace relations, health and safety and community interaction, winning numerous awards in Thailand and internationally. The company has a strong focus on developing and supporting local support industries in rural Thailand, indirectly generating several thousand additional jobs and promoting Thai products.

The Beaumont Partnership Foundation The Beaumont Partnership Foundation is a non-profit organisation that was established to serve needy rural communities by offering a high standard of education to ordinary children free of charge. The Foundation aims to maximise these children’s potential and help them be the very best that they can be. The Foundation was founded by The Beaumont Partnership, an internationally recognised design firm that focuses on architecture, interior design and landscape design in Thailand and its broader region. The company’s expertise include residential, hospitality, corporate interiors, educational, retail and refurbishment projects.

NS BlueScope NS BlueScope (Thailand) Limited, a joint venture between BlueScope and Nippon Steel&Sumitomo Metals Corporation, is a leader in quality coated steel products (Colorbond®/Zincalume®) and innovative steel solutions such as Lysaght® Roofing/Walling, EnduroFrame® Residential House Frames & Ranbuild® Sheds. The company began manufacturing in Thailand in 1988, and has grown to become the number one coated steel supplier and number one steel building solutions provider in Thailand. The company operates three businesses in Thailand. All are joint ventures with Loxley Public Company Limited.

Minor International Minor International PCL is today one of the largest hospitality and leisure companies in the Asia Pacific Region. With over 80 hotels & resorts, 1,300 restaurants and 200 retail trading outlets, Minor meets the growing needs of consumers in Thailand and in 22 markets from Africa to Australia.

Servcorp Servcorp is a world leading Serviced Office and Virtual Office provider. The company offers premium office and advanced IT solutions that enable companies of any size to operate with the corporate presence, IT infrastructure and support of a multi-national organisation.

Servcorp operates a global network in prime CBD locations throughout the world, including three prestigious locations in Bangkok. It offers clients the ability to operate with ultimate flexibility and no long term commitments

Silver Sponsors

Antares Group is Thailand’s first one-stop provider of outsourced business support and serviced offices. It has grown rapidly since its inception, providing successful start-up consultancy along with business development and support services. The cornerstones of the company’s business are its Business Start-Up/ Development services along with Serviced Offices, Operational and Administrative support services including: secretarial, bookkeeping, payroll, accounting and government reporting/ remittances, obtaining/maintaining licenses, visas and work permits. Each turn-key service package is customised to the individual needs of the client.

Blackmores, Australia’s leading natural health brand, combines scientific evidence with traditional knowledge to offer people a more natural approach to health. The company strives to make a difference in everything from the products and services it offers to its commitment to environmental sustainability. Blackmores’ high quality products and reliable free health advisory service are among the many reasons that it has the most trusted name in natural health.

Bronze Sponsors

Central Food Retail Company Limited is Thailand’s leading supermarket chain. It currently operates 232 branches nationwide with 139 stores in Bangkok and 93 stores located upcountry.

Central Food Hall, Tops Market, Tops Super, Tops Daily, SuperKoom and SuperKoom Wholesale are among the business arms operated by Central Food Retail.

CEVA Logistics is one of the world’s leading supply chain companies, providing end-toend design, implementation and operational capabilities in freight forwarding, contract logistics, transportation management and distribution management. With approximately 49,000 employees worldwide in over 160 countries, CEVA delivers effective and robust supply chain solutions across its integrated network to customers worldwide. It offers every customer a service tailored to their specific needs, built on CEVA’s formidable experience across a broad range of market sectors such as Automotive and tires, Technology, Consumer & Retail, Industrial and Energy.

Potentia is an official partner for CPP in Thailand and Vietnam and Official Distributor of the MyersBriggs Type Indicator (MBTI). Potentia provides a range of individual and team development programs to enhance productivity by focusing on the social networks that impact work relationships and productivity. Our programs focus on enhancing leadership effectiveness, team effectiveness, facilitating productive conflict, thriving with change, and building emotional intelligence. We answer the question: how do we apply Potentia tools to achieve our business outcomes and improve productivity?

QBE Insurance (Thailand) Company Limited With a focus on intermediary relationship, QBE Insurance (Thailand) Public Company Limited has the widest range of product offers. Our insurance specialists develop leading-edge products that are clientfocused and provide cover tailored to with complex risk or straightforward solutions that meet the needs of our customers. For more details on our products, please approach your serving insurance broker or an authorised QBE agent for assistance or please visit our website at www.qbe.co.th.

embassy news AND UPDATES

New Colombo Plan to Transform Relations with the Region

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he New Colombo Plan 2014 pilot program was launched at Parliament House on 10 December 2013 by the Minister for Foreign Affairs, the Honourable Julie Bishop MP, in the presence of the Governor General, Her Excellency the Honourable Quentin Bryce AC CVO, who is Patron of the initiative. The Plan is a signature Australian Government initiative that sends Australian undergraduate students to countries across the region to learn, build friendships and strengthen ties with Australia’s Indian Ocean AsiaPacific neighbours.

The Australian Government has committed A$ 100 million in new funding over five years to implement the Plan. The New Colombo Plan Secretariat has been established in the Department of Foreign Affairs and Trade to

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further develop and implement the new program, working with the Department of Education to deliver the awards.

It is an honour that the Governor General, HE Quentin Bryce AC CVO, has agreed to be the official Patron of the Plan, in recognition of its potential to bring long-term benefits to Australia and the region. The New Colombo Plan has already been warmly welcomed within Australia and the region.

For the pilot program in 2014, around 40 undergraduate scholarships for up to a year of study will be offered across the four pilot locations of Singapore, Indonesia, Japan and Hong Kong. More than 700 Australian undergraduate students will benefit from a mobility grants program that will support a range of study expe-

riences for short term to up to one year.

Many participants will also complete internships with Australian businesses operating in their host country.

The program is expected to commence in Thailand as well as other parts of the region in 2015, transforming and deepening Australia’s connections with the Indo Pacific and over time helping make study in the region a rite of passage for Australian students.

Australian students will return home work ready and Asia-literate, with ideas to boost Australia’s innovation and productivity to ensure we take full advantage of the region’s economic transformation.

Further information is available at www. dfat.gov.au/new-colombo-plan.

AustChamThailand Advance

Important Message for AustCham Members

Make Business Better for Australia and Thailand:

Apply for the AustCham Board of Directors

If you’re serious about business in Thailand and feel you can contribute to the success of our Chamber, why not consider joining our Board? Being an AustCham Director is a rewarding experience: whilst the Board strengthens the three pillars of our chamber – Business, Community and Connections, being a Director is also a great way to enrich your personal and working experience in Thailand.

We are now calling for applications for all interested in becoming an AustCham Director. The Chamber’s Annual General Meeting will be held on Wednesday 5 March 2014, at which time a board of 8-12 members will be elected. All members are encouraged to attend the AGM for a review of the year gone by and for the important Board Election.

For those interested in running for a Director position, a description of the Directors’ roles, application forms and application procedure can be found under ‘News & Updates’ on the AustCham website. Applications should be submitted to execdirector@austchamthailand.com before Friday 21 February 2014.

Josh Hyland, AustCham Director and Business Development Manager at AEC, South East Asia 2013 was my first term as a Board Director of AustCham and a great opportunity to contribute to building the Australia-Thai relationship. Dedicated leadership from the Board plays an important part in the great outcomes that the Chamber delivers for all its stakeholders each year. Whilst maintaining its reputation for delivering some of the most talked about networking events in Thailand, the Chamber’s focus on growing and improving business for Thailand and Australia continues to reach new heights. It is rewarding to see the Chamber’s hard work improving education, cultural, social and business ties between our two countries.

Each year Directors select portfolios that support the Chamber’s broad range of interests and activities.

These include Trade and Commerce, Community Services, the AustCham Ball and more. Last year I was responsible for the AFL Grand Final Day and assisting with the AustralianAlumni program. I met the only Thai to have ever played in the AFL and was emcee at an Alumni event with Blackmores and Siam Organic. I was also part of some other great Chamber initiatives, including briefing two Australian business delegations to Thailand, hosted by Thai Ambassador to Australia, H.E.Maris Sangiampongsa, and a senior management discussion with the Thai Board of Investment regarding input for their new investment scheme. Working with high-calibre Board Members, who represent some of the largest companies in Thailand, exposed me to broad perspectives on a wide range of issues – perspectives and issues that I would not have been exposed to in other environments.

Responsible for the interests of over 400 member companies that represent over 10,000 employees, being an AustCham Director can expand your business network, sharpen your business acumen, broaden your Thai exposure and be a very rewarding personal experience. With a maximum term of six consecutive years, it is inevitable that there will be some changes on the Board this year. The Chamber is now seeking applications from those who wish to contribute to the Australia-Thai relationship. Please feel free to contact any of the current Board members if you are interested. They will be more than happy to answer any questions you may have.

Chamber Events

Australian Alumni End of Year Celebration Wednesday 4 December 2013 at the Australian Ambassador’s Residence The Australian Ambassador, HE James Wise, and his wife Teresa, kindly welcomed AustralianAlumni members and friends to celebrate the end of 2013 at their beautiful residence in Sathorn last December.

The evening was filled with festive spirit as over 100 Alumni guests came together to reunite with old classmates, make new friends, re-live fond memories, expand their professional network, and celebrate their Australian education.

The AustralianAlumni program unites and supports graduates from Australian universities by organising activities and providing opportunities for graduates to leverage their Australian education for personal and professional success. Supported by AustCham, and working along-side like-minded organisations, the AustralianAlumni is able to uphold an enduring platform for enhancing the value and prestige of a quality education gained from an Australian university.

On behalf of AustralianAlumni and AustCham, we would like to extend a very special thank you to the Ambassador and his wife for their wonderful hospitality.

We would also like to offer our thanks to ANCA, our event sponsors, for making the evening possible.

Finally, we would like to thank Opus Recruitment, the AustralianAlumni corporate partner, and Blackmores, the AustralianAlumni corporate supporter, for their continued support throughout 2013.

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AustChamThailand Advance

Chamber Events

AustChamThailand Advance

February 2014

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AUSTCHAM MEMBERS

AustCham Welcomes New Members AD Asia Consulting Co., Ltd 9/252 UM Tower, 25th Fl., B1, Ramkhamhaeng Road, Suanluang, Suanluang, Bangkok 10250 Phone: +662 719 9746 Fax: +662 719 9747 Email: info@adasiaconsulting.com Website: www.adasiaconsulting.com

Representatives: Andrea Dolcemascolo, Managing Director Michel H.L. Mathelot, Associate Partner Company Profile: AD ASIA Consulting Company Limited is part of AD ASIA Group Limited, a Hong Kong based advisory and consultancy services company that specialises in the fields of Interior, Architect, Construction, and Real Estate Investment Sector.

AD ASIA Consulting offers a full range of construction services. Our strategic management has direct control on our affiliate companies, AD ASIA Manufacturers (Thailand) Co., Ltd. and AD ASIA Construction Co., Ltd. These companies have a strong reputation in the construction industry and in manufacturing high quality furniture.

In addition to providing management and services for construction, we also provide specialty advisory and consultancy services at a strategic level with in-depth assessment of real estate investment and construction values as well as their operational and performance capabilities.

Products and services: - Construction Management - Construction Advisory & Consultancy - Interior / Architect - Project Management - Real Estate & Property

Royal Brunei Airlines 313, 4/Floor, C. P. Tower, Silom Road Bangrak, Bangkok 10500 Phone: +66 2 638 3050 Fax: +66 2 639 2969 Email: bkkres@rba.com.bn Website: www.flyroyalbrunei.com Representatives: Nantiya Wongrojaree, Sales Manager Alternate Representative Wantip Piyamalmas, General Manager Company Profile: Royal Brunei Airlines (RB) has been operating as the National Carrier for Brunei Darussalam since its establishment on 22

February 2014

18th November 1974. Royal Brunei provides scheduled services across Asia, the Middle East, United Kingdom and Australia. The airline has codeshare and interline agreements with various commercial airlines allowing passengers to coordinate flights for seamless travel to a wider choice of destinations. Royal Brunei Holidays, a tourism arm of Royal Brunei provides holiday packages to its passengers.

The Sultanate of Brunei itself is located in the green heart of Borneo and is known as ‘The Abode of Peace’ promoting understanding, tranquility and hospitality. Royal Brunei Airlines embodies the very same values, in every flight it makes and to every destination, becoming the Gateway to Borneo and beyond.

management and business continuity, maritime security and travel security.

Royal Brunei Airlines received its first of five B787 Dreamliners in October 2013, making it the first Southeast Asian carrier to fly the state of the art aircraft. RB’s Dreamliner has made its first Long Haul flight to London in December 2013 and will start flying to Melbourne at the end of March 2014, where RB will then be the first to offer a full B787 Dreamliner experience on Long Haul from Melbourne to London.

The experience of our employees, many of whom have been in the scrap metal business for decades, brings a level of professionalism unmatched in the industry. We put that expertise to use every day by providing flexible services of the highest quality.

Over recent years, RB has won several awards; Best Foreign Airline 2011 (Sabah Tourism Awards), Best Economy Airlines 2012 (Business Destinations Travel Awards 2012), Best Airlines Provider in Asia 2013 (The European Asia Awards 2013).

C. D. Dodd Scrap Metal Recyclers PO Box 474, Inglewood, Western Australia, Australia 6932 Website: www.recyclers.com.au Representative: Christopher Dodd, CEO Company Profile: C. D. Dodd Scrap Metal Recyclers are an established recycling company. With over 50 years of experience, we have serviced everyone from the small private operator, to the huge multi-national corporation.

Our business activities extend nationally and internationally, offering recycling capabilities and trading directly with customers.

Products and Services: Our range of work extends through scrap metal recycling, mine buy-outs, plant and equipment sales, circuit board and battery recycling, marine recycling and salvage plus certified demolition contracts, class I & II.

Products and Services: Airlines route networks: double daily opertions from BKK to Banda Seri Begawan, with connect to Melbourne, London, Manila, Jakarta, Surabaya, Kota Kinnabaloo,Dubai, Jedda, Singapore, Hong Kong, Kuala Lumpur, Kuching, Shanghai.

Mr Jamie Ferguson, CS Gas Pty Ltd 30 Flockton Street, Stafford Heights Queensland, Australia 4053 Phone: +61 0413349382 Email: fergy36@optusnet.com.au

Control Risks 331 North Bridge Road #04-01/04 Odeon Towers, Singapore 188720 Phone: +65 6227 2038 Fax: +65 6227 2062 Email: singapore@controlrisks.com Website: www.controlrisks.com

Individual Profile: I am a specialist in bid development. I currently work in the Coal seam gas automation and optimisation industry mostly within Australia, but with some dealings with Asia.

I originally come from a telecommunications and management background but have worked in infrastructure, mining and facilities management industries. I am married with one child and live in Brisbane, Australia.

Representatives: Dane Chamorro, Managing Director, South East Asia Gavin Chua, Director, Global Client Services, South East Asia Company Profile: Control Risks is an independent, global risk consultancy specialising in political, integrity and security risk. Services include political risk analysis and consulting, due diligence and investigations, anti-corruption services, eDiscovery, security consulting, design and training, crisis

Change of Representative • Mr Gordon Fuller, Area Vice President and General Manager is a new representative of Grand Hyatt Erawan Bangkok • Mr Adam Zilber, Hotel Manager is a new representative of Grand Hyatt Erawan Bangkok • Ms Trinh Sajjachaiyanont, Senior Manager is a new representative of Servcorp Co., Ltd • Ms Yanisa Sartrapai, Marketing Coordinator is a new representative of Servcorp Co., Ltd • Mr Douglas Glen, General Manager is a new representative of The Landmark Bangkok Change of Company Address Clarity IT Co., Ltd change address to 1049/4 Soi Nai Lert, Wireless Road Lumpini, Patumwan, Bangkok 10330 Phone: +66 655 1140-1144 Fax: +66 655 1139 AustChamThailand Advance

AustralianAlumni Introduces 2014 Corporate Sponsors Alumni Partners Opus Recruitment Ltd was formed in 2003 to service the needs of local Thai and multinational companies that seek to recruit high quality people. Excellent human resources are essential for all organisations that are serious about competing in an increasingly difficult business environment, and Opus specialises in identifying and recruiting senior level business people who will help to lead an organisation to achieve its full potential. Opus’ consultants take the time to understand a client’s business so that searches can be tailored to the client’s specific requirements, resulting in the recruitment of the best qualified candidate.

Blackmores, Australia’s leading natural health brand, improves peoples’ lives by delivering the world’s best natural health solutions, to become peoples’ first choice in healthcare. We achieve this by translating our unrivalled heritage and knowledge into innovative, quality, branded healthcare solutions that work. Our high quality products and reliable free health advisory service are among the many reasons that Blackmores is the most trusted name in natural health.

The AustralianAlumni program unites and supports graduates of Australian universities by providing activities and opportunities for Australian alumni to leverage their Australian education for personal and professional success. For information about becoming a member please visit the website www. australianalumni.com or facebook page www.facebook.com/australianalumnithailand

From the Chamber

‘Getting to Know’ Renee Bowman, Executive Director of AustCham Do you recall any interesting memories about your childhood?

I had a crash-course in sailing when I was unexpectedly abandoned on a catamaran following a sudden wind surge and was taken out to sea alone.

How would your parents describe you as a child?

As a child I was adventurous, determined and always on the move. My father gave me the nickname ‘bubbles’ on account of having a bubbly personality.

How would you describe yourself as a student?

As a student I was disciplined, self-motivated and very thorough to the point of being a perfectionist.

What would people find most surprising about you?

I am actually quite shy but my determination has helped me overcome this.

If you could do it again, would you take a different career/academic path?

I have been lucky enough to have had a diverse career path.

I have no doubt that I will continue to learn, challenge myself and embrace new opportunities that come my way.

Fact File Place and date of birth: Melbourne Australia 1976 Arrived in Bangkok: March 2013 Education: Masters of Business Administration – Deakin University; Masters of Nutrition and Dietetics – Deakin University; Graduate Diploma of Journalism with Honourable Mention –University of Queensland; Bachelor of Applied Science in Human Movement majoring in Health Promotion – University of Ballarat; Certificates in Small Business Management, Frontline Services, Strategic Account Management, Sports Nutrition and Professional Sales Negotiations.

Professional Experience: I have worked in private, public and not-for-profit organisations as a CEO, General Manager, Area Manager, Journalist, Photographer, Actress, Event Manager, Sales Executive, Dietitian and Lecturer.

What have been your greatest life lessons so far?

Take risks, care less about what others think, be appreciative, always finish what you start, capture happy memories, regret things you have done – not things you haven’t done, don’t waste time and energy worrying about things that haven’t happened, and don’t judge others since you have no true understanding of their journey.

Who has been the most important influence on your life? On your career?

Credit where credit is due. My parents have provided an extraordinary amount of guidance, support and encouragement throughout my entire life.

What professional accomplishment are you most proud of?

Inheriting an organisation that had a troubled cultural environment, poor operational performance, no strategic direction, and issues with embezzlement, presented me with countless challenges but reaped the greatest rewards.

What do you consider to be the best possible work environment?

An atmosphere which is empowering, supportive, respectful, trust-

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AustChamThailand Advance

From the Chamber

ing, optimistic, dynamic, and enjoyable. One that brings out the best in you and challenges you to strive for new heights.

What has been the most interesting job you have had?

Creating new walking and cycling trails within the beautiful and mountainous Wakatipu District (Queenstown, New Zealand).

Do you like Thailand? Has it lived up to expectations?

I can see why Thailand is known as the ‘Land of Smiles’. Its charming and vibrant culture, exquisite cuisine, affordability, diverse offerings, relaxed atmosphere, hidden treasures, warm climate, and beautiful landscape make Thailand a lovable country.

Did you ever imagine that you would end up living and working in Bangkok?

I am not surprised given my eagerness to try new experiences.

Could you ever go back to your home country?

Australia will always be home. I’m not sure I will ever cope with the winters again though!

What books do you read?

I enjoy biographies and business publications.

What is your favourite restaurants and/or favourite cuisine?

My favourite cuisine is Italian and I can not go past alfresco or unusual dining experiences.

What hobbies to you enjoy?

Anything that is creative or allows me to be physically active.

What is your definition of “happiness”?

I have always believed that ‘happiness is a way of living; not a destination’. I also live by the proverb; ‘Smile and the world smiles with you’.

Can you achieve a good work life balance in a bustling city like Bangkok?

If you make it a priority then absolutely!

How do you hope to be remembered?

Honest, compassionate, positive, happy, creative, determined and successful.

If you could possess one super-human power, what would it be?

To heal

AustCham Bronze Corporate Sponsor: Hemaraj Land And Development Plc.

Industrial Estate News

Hemaraj positions itself for sustainable growth in preparation for the AEC era With the coming of the ASEAN Economic Community (AEC), Hemaraj Land And Development Plc. – Thailand’s leading developer of Industrial Estates, Utilities and Property Solutions – is stepping up its efforts to contribute to the growth and industrial development of Thailand.

Since its foundation in 1988, Hemaraj has grown from one of the very first players in industrial estate development to a genuine powerhouse behind world-class industrial and factory parks.

Over the years, it has also expanded into a provider of extensive industrial utilities and services. With over 900 land or factory contracts, the company has brought in investments amounting to approximately US$26 billion in key industrial sectors such as automotive, petrochemicals and metal industries, among others.

The creation of an automotive cluster at the Eastern Seaboard Industrial Estate in Rayong has set Hemaraj apart from the competition. The company has played an instrumental role in making Thailand one of the world’s top ten car producers.

AustChamThailand Advance

“As Hemaraj plans to grow on every front of the business, we look forward to the AEC with sustainability as our key driver,” said Mr David Nardone, President & CEO. “This will be a chance for fresh investments, greater expansion and improved capabilities.”

Today, Hemaraj develops seven-plus industrial estates of 39,109 rai (15,600 acres, 6300 hectares) and 750,000 square meters of Ready Built Factories and Logistics Parks in Rayong, Chonburi, Saraburi and Prachinburi, providing good employment opportunities for over 120,000 people.

For more information on Hemaraj, visit www.hemaraj.com.

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From the Chamber Office

Message from the Executive Director

Calendar of Events

O

18:00 – 21:00 Venue: Hilton Sukhumvit Bangkok, 11 Sukhumvit Soi 24 Corporate Sponsor: The Beaumont Partnership Foundation

ne way to measure the value of a company is by its capital; that is, net assets which generate revenue or profit. Many people don’t formally value human capital which is potentially the most powerful asset of all; but equally the most precarious when managed poorly. This begs the question; does your company have a comprehensive people plan? Are you facilitating a culture of innovation and suitable risk taking? Are you using appropriate motivational strategies to harness employee talent and achieve optimal workplace productivity? And are you exposing staff to new experiences and increasing their competency through education and training?

In this month’s Advance we explore the value of human capital and examine strategies which may help you increase the economic value of your company.

As leaders it is essential to stay abreast of the latest market trends and key issues facing businesses. AustCham facilitates this through its newest initiative the Australian Business Forum (ABF). Funded by Austrade as part of the Asian Business Engagement Plan, the ABF is proving to be an extremely valuable and thought provoking domain for executives across a variety of sectors. To date our guest speakers have explored the common misconceptions about doing business in Thailand and have identified major challenges and key success factors as a result of real-life experiences. They have highlighted the importance of embracing the Thai business culture and have explored the opportunities to boost business by expanding in a rapidly developing market.

In February, AustCham will deliver two more ABFs; one on 11 February in Bangkok and the other on 26 February on the Eastern Seaboard. We will hear from Khun Thana Boonyasirikul, Vice President of RATCH Holdings, who will talk about the company’s growth in Thailand and his experience as a Thai investor in the Australian market. Shane Burt, Managing Director of CEVA Logistics Ltd, will share his perspective on the pitfalls and benefits of doing business in Thailand, obtaining quality personnel and choosing the right partner for your business. Meanwhile Greg Wallis, Senior Trade and Investment Commissioner at Austrade, will present the latest data concerning Australian investment in Thailand. Bookings are limited for these high-class events so early registration is strongly recommended.

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As part of AustCham’s on-going commitment to community strengthening we celebrate the significant contribution our members and friends have made in 2013 when we present the Beaumont Partnership Foundation a cheque for over one million Baht. This money will go towards developing, primary classrooms, a community centre and sports facilities at the Beaumont Ruam Pattana School. Once complete this project will provide quality education for up to 400 under-privileged students in the hope that they will reach their development potential and improve the financial position of their families in the future. Our commitment to community services continues on 8 February when we travel to the Chonburi Province to deliver English language classes to children aged five to 12. No prior teaching experience is required so please join me for what promises to be an enlightening and rewarding Saturday!

Wednesday 5 February Bangkok Sundowners

Tuesday 11 February Bangkok Australian Business Forum (ABF) Luncheon

12:00 – 14:00 Venue: Grand Hyatt Erawan Bangkok, 494 Rajdamri Road TRANSEARCH Tri Nations BBQ (Braai)

18:30 Venue: The Sukhothai Hotel, Sathorn Road Wednesday 26 February Eastern Seaboard Australian Business Forum (ABF) Luncheon

16:30 – 18:30 Venue: TBC

With the 5 March AGM looming, some of you may be contemplating putting your name forward for the AustCham Board of Directors. Our highly competent Board of Directors, representing a range of sectors and communities throughout Thailand, work tirelessly to uphold AustCham’s integrity, maintain our regulatory framework, define our strategic potential, and stay abreast of issues affecting AustCham members. Collectively, their diverse interests and dedicated contribution ensures that the Australian-Thai Chamber of Commerce continues to evolve and respond proactively to the needs of its members. Nominations for the 2014 AGM close 21 February so please make your interest known before then!

On a final note, let me take this opportunity to announce AustCham’s newest recruit; Thitikorn Srichomphoo (Lok).

Khun Lok takes up the position of Office Support and Accounts Officer and will be the first point of contact when you phone or visit the AustCham office. Please join me in giving Khun Lok a warm welcome to the AustCham team.

Thank you to our January sponsors

Warm Regards, Renee Bowman Executive Director, AustCham Thailand www.austchamthailand.com

AustChamThailand Advance