Bangkok Business Brief - Volume 2, Issue 1 - Mid-December 2012/January 2013 by Mango Mango Ltd. Part.

BANGKOK

BUSINESS BRIEF

Vol. No. 2, Issue No. 1

SPECIAL HOLIDAY ISSUE

Mid-December 2012/Mid-January 2013

Read new business briefs everyday at www.BBBrief.com

Social responsibility for the individual By Dean Outerson

CSR is everywhere these days. Over the past 20 years, corporate social responsibility (CSR), has become a standard component of corporate strategy and corporate budgets, and it’s become the

Inside General Interest 2 Finance/Investment 3 Government/Economy 4 Production 5 Retail/Services 6 Tourism 7 IT/Comms 8 Real Estate 9 The Chambers 10 The Calendar 14

‘feel-good’ section of every annual report. CSR activities receive inordinate amounts of PR attention because every company executive wants maximum publicity for the good that they think they’re doing for their community, the environment, and the world. But ask any CSR consultant how they feel about the state of corporate social responsibility, and you’re liable to get a mixed response. Yes, it’s great that most companies are doing some form of CSR activity, but at the same, many companies are adding CSR projects because they think they must do something, and in many cases, the projects have nothing to do with the company’s

core business. Essentially, the CSR projects are just add-on activities that satisfy legal requirements, and as such, they lack any real social or community impact. At worst, they are just companies throwing money at the closest charity. As the concept of CSR evolves, some companies are starting to understand that in order for their CSR work to be effective, it must be sustainable, organic, and involve all of the stakeholders in the organization. But CSR professionals are also realizing that corporate social responsibility can’t just be an institution-driven initiative. CSR has to be broken down to its most basic part: the individual.

Social responsibility must be engaging to the people who are part of it, and must be driven by these same people, whether they’re employees, customers, suppliers, or shareholders of the corporation. In recent years, the concept of ISR, or individual social responsibility, has begun to gain some traction (PSR, or personal social responsibility, is also used), as the question “How can our company help?” is changing to “How can I help?”. So what exactly is ISR? According to a number of websites and blogs, ISR is commonly defined as “being responsible for our actions that affect communities outside our imStory continues on Page 12

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Briefs General Interest

http://goo.gl/ozbNM

A sobering issue in the workplace It’s six in the evening at Hua Thai Manufacturing Plc, when dozens of garment workers huddle inside and outside the factory, can of beer in hand, before starting overtime in an hour. The company used to provide beer and alcohol to employees in the evening but stopped in 2005 after an anti-drinking campaign. The budget used to buy beers for employees now goes for gifts in the company lottery. Located in Nonthaburi province, the 28-year-old factory employs 700-800 workers, 95% of them women. “It’s not safe if two drunk employees have a row. Every time a disagreement happens, friends have to look out for each other’s belongings, people end up crying and

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Mid-December 2012/Mid-January 2013

To read the full article of a story brief, enter the short code at the end of the story into your browser: some get dragged to their cars,” said 48-year-old employee Pranom Chiang-ang. “Many women drink as a way to escape their problems. I was always told I couldn’t understand... Full story at http://goo.gl/mWJPO

Non-competition provisions

Many employers put substantial resources into training people and giving them valuable work experience. Thus, departing employees are a cause for concern in terms of potential loss of customers and business. To address this risk, many employers ask us whether they should include non-competition provisions in employment agreements and whether such provisions are enforceable. In Thailand, non-competition provisions are governed primarily by the Labour Protection Act and the Unfair Contract Terms Act. Principally, they are enforceable in Thailand, subject to some restrictions. The Labour Protection Act provides that, “for an employment contract

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...added that the company had set aside a significant investment budget of Bt200 million to Bt300 million for overseas expansion. Full story at http://goo.gl/bH6PF

between an employer and employee, work rules, regulations or orders of an employer that provide for the employer to have an improper advantage over employees, the court shall have the power to order that such employment contract, work rules, regulations or orders be applicable only to the extent that they are fair and appropriate in the circumstances”. Similarly, the Unfair Contract Terms Act stipulates that “contract terms that are not void but cause the person whose rights or freedoms has been restricted to shoulder more of a burden than a reasonable person could have... Full story at http://goo.gl/MMAi8

More transparent SMEs

Lack of transparency has been cited as a major cause of the current crisis that is consuming the entire globe. Seeing the need for more good governance, some organisations in Thailand have joined hands to promote the element, particularly among small and medium-sized enterprises, for their own sustain-

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ability and higher competitiveness ahead of the Asean Economic Community. “SMEs are the blood veins of the Thai economy, contributing 40 per cent of the country’s gross domestic product and hiring 70 per cent of the workforce. They are... Full story at http://goo.gl/piknd

Manpower development key to Asean growth

At a seminar, leading executives said one key area in which Thai companies needed to be ready is their manpower, if they want to expand their businesses in Asean. Adirek Sripratak, CPF’s extensive overseas activity tied in with its vision to be the “kitchen of the world”. Sales revenue in the domestic market is not sufficient for long-term growth, he said, adding that the AEC presents a greater opportunity for Thai companies. Before entering each country, the company has to ensure it has the capital, technologies and human resources for such a move, he said... Full story at http://goo.gl/hdmb2

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Nature and life in JuliusCaesar. 1997-98 wa are cyclical _ the impact of s a blessing, as the mains seasons of the yea 2008 would ha above the Europ the phases of the r, life and death, far worse ve been ean average. for the region, mo http://goo.gl/o on, the tides. ” Azman In Caught up in da zbNM India, China ily details, we eas Mokhtar, the managing and Thailand, ily forget that dir ect of or Kh Asia stands to rou aza ghly 12 percent nah the business wo of has cycles, too. rld told the CI Nasional of Malaysia, tion contribute to a the populaWe are all fam MB Asean Confe gain from W pension, while iliar with the econo rence. the we es t mi ak c ne bu sse sin s ess of cycle His com slowdown of expansion, con sion system are Thailand’s penments were... ... covery. Howe traction and re- Full story Full story at htt The shift of eco ver, other cyc at http://goo.gl/d nomic growth p:/ /goo.gl/rtpH3 lic ph al fu2 en u om ena affect... momentum to the Thailand near Preventing up numerous East has opened Full story at http://goo.gl/fJ to p opportunities olr of list of wor that Asian countries Bangkok from out, suggests an should not miss Panel: Asia bett weakest pensld’s sinking bigges economist. io off, not immun er n t systems: stud challenge The robust eco y from global cr e, no Greece, India, Ch Land subsidence China and em mic growth of is es ina and Thailand erging economi caused by groun are home to the water losses top will open a ne es KUALA LUMPUR : The As d weake w s ian cri- pensi on systems in st national lems that must the list of probAsian economi opportunity for sis in the late 1990s was a wa es to increase the be the kesol cal up ved wo l for in rld cri Ba , the region that pp wealth from tra ir has turned eig led by a mix of acute sover- kok to mitigate the impact ngde in goods an out to be of the n debt, young climate change services at a tim a blessing in d retire dis e on States and Europ when the United nearly 15 years later, as the guise high ratios of pension ment ages, a study by multin flooding, says region’s ers an ers to worke ational agencies financial sec Full story at htt are... d . p://goo.gl/S65D6 able to sus tor is now strong and study poor pension take-up, a The conclusio showed. tain a certain n de is gre contained in of shocks from e Grow with th a rep ort the entitled “Clim e flow Western Hemi fallout in the The Allianz ate Risks and Ad of cycles sphere, accord ing sion Susta Global Investors Pen- Megac aptation in Asian Coastal to a panellist at a recent As inability Index, ities”, jointly con ‘There is a tid ean conference. ducted by the which Asian De tracks the rel e velop ati men, which, tak in the affairs of ity of nationa ve sustainabil- Internation ment Bank, the Japan l al leads on to for en at the flood, “There wi in 44 countries pension systems and the Wo Cooperation Agency ll be more crises tune”, wrote Wi around the wo rld Bank in 201 l- future, an in the showe rld, 0. d the Asian crisis in tirees d the number of Greek reThe report recom to people of wo rking age reFull story at htt mended a... p://goo.gl/20yMD Sponsored by

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K-SME plans B80m deals

K-SME Venture Capital Management will invest nearly 80 million baht in two companies with an aim Room for of listing them on the stock markets in the near future. One of the comThai-Russian panies is a logistics operator and the investment growth other is a honeycomb paper manuSince joining the World Trade Or- facturer. ganisation in August, Russia has attracted more foreign investors who The fund will invest 18.2 million foresee opportunities in one of the baht for 40.99% of O&H Honeyworld’s major economies. Big Thai comb Paper, and 60 million baht for companies such as Siam Cement 18.46% of NCL International LoGroup, Charoen Pokphand Foods gistics, said Patamaporn Chaiyakul, and Boonrawd Brewery are also in- managing director of Khao Kla Venterested in establishing plants there. ture Capital Management under KSME Venture Capital Management. Boonrawd, brewer of Thailand’s well-known Singha beer, has report- Kitti Phua, chief executive of NCL, edly been exploring business op- said the company wants to increase portunities in Russia since last year, capital to expand the business and seeking locations suitable for setting strengthen its competitiveness “If up plants in the future. However, no we don’t do anything now, we may details of its investment plans have lose the opportunity to Singapore... been made available. An informed Full story at http://goo.gl/9rc5I source at Boon-rawd Brewery said last Friday that the company was se- Not time to invest riously interested in accessing more in Thai stocks, says markets overseas and had studied financial adviser investment opportunities in a... Full story at http://goo.gl/5uc4P The government of Prime Minister Yingluck Shinawatra should make PWC report dubs a “big U-turn” in its economic poliDawei as ‘Darling’ cies as they could make Thailand vulnerable to impacts from global to investors economic volatility, said Paul GamDawei, a special economic zone in bles, a regional financial expert. Myanmar, is a “darling” to potential investors from Japan, Thailand Gambles, managing partner at and elsewhere for a host of rea- MBMG International, a Bangkoksons, according to a new report by based financial advisory company, international professional-services said that despite the country’s curfirm PricewaterhouseCoopers. The rent strong fiscal position, the Yincompany cites as positives the zone’s gluck government’s huge spending provisions relating to developers on infrastructure and car-purchase and investors; exemptions and re- and rice subsidies would increase lief measures; restrictions; duties of the debt-to-GDP ratio to 60 per cent developers or investors; land use; in the next few years. banks and finance management and insurance business; management “Right now, we have kind of openand inspection of commodities by ended stimulus programmes and the customs department; quaran- there is no reason to do this. We tine; labour; and a guarantee of non- should not stimulate the economy at nationalisation. the moment. We should accept the fact that with the global economy Still, investors are eyeing the country slowing down, the Thai economy with great suspicion, PwC says in its needs to come down a little bit,” said latest publication, “South East Asia Gambles in an exclusive interview – Investment Opportunities, Tax & to The Nation. Other Incentives”, which is designed to give insights to investors wanting Gambles said he had been telling to pour capital into Myanmar and everybody that he was waiting to inthe rest of Asean. The enthusiasm... vest in Thai stocks when they... Full story at http://goo.gl/HN1og Full story at http://goo.gl/d4nWE http://goo.gl/wKeiJ

...added that the set aside a signi company had budget of Bt20 ficant investment million for over0 million to Bt300 seas expansion Full story at http: . //goo.gl/bH6PF

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BANGKOK BUSINESS BRIEF

Briefs Government / Economy

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Private sector upbeat on Obama policies, expect exports to increase

Business leaders are optimistic that the re-election of US President Barack Obama will benefit Thailand’s economy, with a possible increase in exports to the US. Pornsilp Patcharintanakul, vice chairman of the Thai Chamber of Commerce, said Obama’s policies to reduce the income gap and promote the middle-class would help stimulate the US economy. This should be positive for Thai exports because the middle class is the largest segment of the US population, and would have more purchasing power if the efforts succeed.

www.BBBrief.com

Mid-December 2012/Mid-January 2013

To read the full article of a story brief, enter the short code at the end of the story into your browser: Rising demand from consumption among the middle class would increase production in the domestic arena as well as demand for imported goods and services. Thai exports to the US should benefit from the policy and enjoy higher growth,” he said. Pornsilp noted that Obama’s policies would take some time to take effect, but the impact should... Full story at http://goo.gl/a0qvz

Thailand ‘can steal Singapore’s crown’

An Australian business leader made the unlikely suggestion at a conference yesterday that Thailand could surpass Singapore as a regional financial hub by becoming a new gateway to Myanmar. Carey Ramm, executive chairman of the Australian consultancy AEC Group, said Thailand is drawing greater interest from Australian investors thanks to its diversified economic base and connections with China and India.

...added that the company had set aside a significant investment budget of Bt200 million to Bt300 million for overseas expansion. Full story at http://goo.gl/bH6PF

lines of the 2012 Australia-Thailand Business Conference. “By 2020, Thailand will become a high-income country.” The Australian government recently issued a white paper outlining Australia’s shift in foreign policy emphasising relations with its Asian neighbours. Thailand is Australia’s eighth-largest trading partner. Mr Ramm said the Australian government plans to set up a business incubator in Thailand to serve as a “nursery” for exporters, offering information and assistance for companies and investors interested in starting a business in the country... Full story at http://goo.gl/ukilC

Train project right on track

A high-speed train project linking southern China, Laos and Thailand could start in 2015 in time for the launch of the AEC. Chamaiporn Chuecharoen, the commercial “With a better strategic position, counsellor for Thailand in Kun“If the policy is successful, the US Bangkok will become the next Sin- ming, China, said the project enviwill see stronger economic growth. gapore,” Mr Ramm said on the side- sions a train capable of speeds of 200

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kilometres per hour running from Yunnan province to Laos and Nong Khai in northeastern Thailand. Passengers and cargo from Nong Khai could then travel to Bangkok and Rayong as well as south to Malaysia and Singapore. Other high-speed rail links are planned from China to Myanmar and Cambodia. Work on the China-Laos route is expected to begin shortly. The project will be financed by the Export... Full story at http://goo.gl/ryUSy

For Dawei, taxpayers won’t pay

The Dawei deep-sea port and industrial zone project took a new twist Thursday, as the Thai government insisted it cannot spend taxpayer money for private gains in Dawei. “The government itself cannot invest directly in the Dawei project, as by practice the government cannot directly fund any business in the private sector,” said PM’s Office Minister Niwatthamrong Bunsongphaisan, speaking in his capacity... Full story at http://goo.gl/00m8j

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...added that the set aside a signi company had budget of Bt20 ficant investment million for over0 million to Bt300 seas expansion Full story at http: . //goo.gl/bH6PF

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...

Charoen Usanachitt has less involvement with daily operations and is the chairman of the board. Good governance and friendships: http://goo.gl/UrVpE “One good example of changing roles came after the 1997 economic Ford awaits crisis,” recalls Mr Jajjai. “I was the CEO then. However, I was aware chance to offer that in such a unique and difficult electric cars here situation, I was not the right... Ford Motor Co is looking at the ap- Full story at http://goo.gl/9NtfA propriate timing to introduce ecofriendly vehicles such as hybrids German firm plans and electric cars in Thailand and new faucet factory the Asean region. “But we must also The local unit of Germany’s Grohe have the required infrastructure. AG, a leading provider of premium In order for electrification to take bath faucets and showers, will build off, we need easy access to plug-ins a third, 600-million-baht factory in as well as a power grid system that Thailand to serve a larger market produces electricity with cleaner under the AEC. Grohe Siam Co methods than dirty coal,” Bill Ford, Ltd is a joint venture between the executive chairman of the US-based Dusseldorf-based Grohe and Haco auto-maker, told journalists. Group Co Ltd, its Thai distributor. “Our foreign counterpart has always The Focus Electric Vehicle was re- been interested in the tax incentives cently offered as a fleet demonstra- under the AEC and wants to make tion in China, but has not yet been Thailand its main production base,” offered commercially, as in the said Dhitipong Dowpiset, Haco’s United States and Europe. “I’m opti- chief marketing officer. mistic about this technology, but it’s also frustrating with the [lack of]... Grohe Siam’s two present factoFull story at http://goo.gl/7mUyZ ries are in Rayong’s Klaeng district. Running at 80-90% capacity, they Talent Pool: How produce a combined 100,000 items five friends built the a week. Mr Dhitipong said the third modernform empire plant will increase output by 30%, making the faucet manufacturing More than 40 years ago, four young site the largest of its kind in the... men met for the first time at As- Full story at http://goo.gl/KhN3l sumption Commerce College in Bangkok. They teamed up again in Big Star set 1991 with another friend they had to build factory met while studying in the U.S. to out of Thailand establish a furniture business. Two decades later, all five are still play- Big Star might set up its first overing leading roles at Modernform seas factory in a neighbouring counGroup, one of Thailand’s largest fur- try, either Myanmar or Vietnam, as niture manufacturers and exporters. high labour costs in Thailand make its Gambol footwear uncompetitive “I can say that, since the beginning, in markets abroad. each one of us has always done what he does best,” says Jajjai Dhamma- “We want to look for a new overseas rungruang, vice-chairman of the factory, which will be our base in board. “As individuals, each of us exporting to markets with potential, is aware of his own strengths and especially Asean, which will serve weaknesses. Hence, we typically let the opening of the region as one a particular task end up with the one single market, especially when the of us whom we, as a group, truly be- AEC is fully effective in 2015,” Suralieve is the right man for the job.” chai Kitkamjai, deputy managing director, said. All five founders are still active to different degrees in the Modern- The criteria include human resourcform business. Thaksa Busayapoka es and labour conditions, as well as is the chief executive. Somsak Vari- the overall economic situation and karn and Yothin Nerngchamnong political stability in the country. oversee different parts of the busi- Vietnam, for example, can offer... ness as executive board members. Full story at http://goo.gl/AK4Tc

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Briefs Retail/Services

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Jet Asia cleared for take-off, plans to double fleet size

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...added that the company had set aside a significant investment budget of Bt200 million to Bt300 million for overseas expansion. Full story at http://goo.gl/bH6PF

livery of its fourth Boeing 767-200 jet this month and is planning to add four aircraft of the same series, two in the second half of next year and another two in 2014.

of which will be opening their first stores in Thailand. Costing about Bt10 billion, a 222-room hotel at the complex will open in September 2014. The complex is at the intersection of Ploenchit and Wireless The expansion is part of a strategic roads, one of the most prominent plan to cash in on the fast-growing locations in Bangkok. Asian markets, particularly China, South Korea and Japan, all within “We have finished construction of five to seven hours. Jet Asia, owned the building foundation. The conby a group of Thai investors includ- struction and opening will be on ing a Chiang Mai hotelier and re- schedule,” said managing director tired Royal Thai Air Force officers,... Chart Chirathivat. Central Embassy Full story at http://goo.gl/bH7cw recently held a tenant meeting to provide updates (to) senior manCentral Embassy agement teams and designers of insays 90% of retail ternational brands including... space to be leased by Full story at http://goo.gl/Wum0B

Jet Asia Airways, the privatelyowned Thai carrier that has flown international charter flights for just over a year, is gearing up for an expansion with scheduled services and doubling its fleet size. The airline, founded in 2009 but little known to the public, is to launch its first scheduled operations with flights from its Phuket and Bangkok bases to as many as eight Chinese year-end cities next month. Luxury shopping complex Central Embassy, which is scheduled It also plans to reintroduce its daily to open in December 2013, anscheduled charter flights between nounced that more than 90 per cent Bangkok and Narita in Japan and of its retail space would be leased by to launch charter flights between the end of this year. About 30 per Bangkok and Incheon in South Ko- cent of 150 retail tenants occupying rea and between Phuket and Busan the 41,000-sqm leasable area will be in South Korea. Jet Asia will take de- international fashion brands, some

Internet shopping mag: doubling sales next year

Natcharee Sriroj-chanapong has launched an online shopping magazine to cash in on the trend of increasing number of mobile-phone and Internet users in Thailand. SymbolsOfStyle.com is aimed at becoming one of the top Internet-

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based shopping sites in Thailand, combining online media and ecommerce. “I have seen a growing trend of online shopping in Thailand, driven by the launch of the 3G network, which will accelerate the increasing number of mobile users in the market,” said Natcharee, 32. She launched her SOS online magazine in April, while the shopping feature at the website started... Full story at http://goo.gl/IGIq8

Stemming the tide of disease

Wealth may not be enough to rescue you from an incurable disease. But stem cells can. This realisation has led to the growth of an industry called stem cell banking. THAI StemLife Co Ltd runs Thailand’s first private and largest family stem cell bank. “We had seen the development of baby stem cells and core blood stem cell banking in the US and Europe and thought that this would be a perfect service for Thailand, since it was not available at that time. Patients with genetic... Full story at http://goo.gl/0ojdn

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BANGKOK BU SINESS BRIEF

December 20 11

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Tourism

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Besides easy air access – only three and a half hours, with many choices of services – Thailand offers topnotch shopping and dining with value for the money. In the coming years, Indian outbound tourism will witness an increase, mainly fuelled

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...

by travellers below 30 years of age, who now account for 60 per cent of the population, Menon said. Actually, they demand to go abroad and http://goo.gl/fxE4d experience the world outside their home country. Under the company’s Krabi hit by strategic plan, Thomas Cook (India) will focus on online marketing to tourist protest those younger customers. For exLarge numbers of tourists have can- ample, the company is working on celled their trips to Krabi province how to deal with the Internet and.. after a video clip emerged as a sign Full story at http://goo.gl/iMJSq of protest against provincial authorities who gave bail to a man accused New lease on life of raping a foreign woman in Ao for Elite Card Nang. Ithirit Kinglek, head of Kra- Thailand Privilege Card Co, the opbi’s tourism authority, said the vid- erator of the Thailand Elite Card, eo clip called Evil man from Krabi is embarking on a new business which has circulated on the internet plan as it plans to attract 1,300 new for about two weeks has affected the members next year. The Elite Card, province’s tourism industry. He said which was almost scrapped by the many tourists from England have previous Democrat-led governcancelled their trips after the video ment, got the green light from the emerged on YouTube. Yingluck Shinawatra cabinet to be revived by the Tourism Authority of The content of the clip talks about Thailand, the owner of TPC. several violent incidents that involved foreigners in Ao Nang and For its comeback under a “Money have been allegedly covered up by Can’t Buy” campaign, members Thai authorities. Another incident will get more privileges such as a concerned teenagers attacking a five-year visa with multiple entries tourist couple. The man was stabbed and a maximum stay of 12 months, and wounded severely while his up from three months for normal girlfriend barely escaped with the tourists. They will get discounts for assistance of the locals in the area. air fares and shopping in Thailand. Some cardholders, particularly forMr Ithirit said European tourists eign investors, will have the chance have questioned their safety and... to meet top executives of Thai Full story at http://goo.gl/e8HjN companies for business talks. Their meetings will be arranged by the Kingdom still TAT. The membership will be ada favourite for justed to only 20 years, not lifetime... tourists from India Full story at http://goo.gl/3oCKQ Thailand will remain one of the most popular tourist destinations in Southeast Asia for Indians for many years, a leading Mumbaibased travel agent said. “Our forecast on tourism growth from India to Thailand in the next five years – we would say that it will enjoy about 30-to-35-per-cent growth year on year,” Madhavan Menon, managing director of Thomas Cook (India), said. Other top choices for Indian travellers are the United Arab Emirates’ commercial hub Dubai, Sri Lanka, and Nepal.

...added that the set aside a signi company had budget of Bt20 ficant investment million for over0 million to Bt300 seas expansion Full story at http: . //goo.gl/bH6PF

‘One-stop service needed’ for tourism investment

Thailand will miss out on tourism investment after the launch of the full-scale AEC if state agencies do not take the initiative to form a onestop service window like Cambodia and Myanmar, an academic said. Those countries have realised the importance of having a single body to provide such a service, which improved their investment climate by making it easier for foreigners to do business, said Assistant Professor Thanavath Phonvichai. The two countries also have a clear vision that the tourism industry is among the first priorities as they work to alleviate poverty. Investing in the tourism industry in Thailand... Full story at http://goo.gl/9dx52

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Thai firms urged to embrace e-commerce Alibaba.com, the world’s largest ecommerce firm, is urging businesses in Thailand to quickly adapt to the medium as a gateway to global markets. Rachel Wu, marketing manager of the Chinese site with 29 million registered users, said Thailand’s e-commerce transactions in the first five months of this year increased by almost four times to 7.9 million baht, up from only 1.8 million baht in 2011. Most orders stemmed from the United States, India and China. Ms Wu said the best-selling Thai products were food and beverages, clothing and agricultural products. Machinery, cars and motorcycles, and home and garden items were the most popular products for

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Mid-December 2012/Mid-January 2013

To read the full article of a story brief, enter the short code at the end of the story into your browser: Thai buyers. However, only 5.8% of three million SMEs in Thailand use e-commerce to access overseas markets. By comparison, she said, at least 42% of SMEs in China are... Full story at http://goo.gl/kKLcf

...added that the company had set aside a significant investment budget of Bt200 million to Bt300 million for overseas expansion. Full story at http://goo.gl/bH6PF

“Thailand can have a similar proportion [to Singapore], with 30 per cent of SMEs going online,” Ariya said, noting the success of Google’s Go Online scheme this year. There now are 24 million Internet users in Thailand, while 28 per cent of Google aiming the population, or about 18 milto get 3 million lion people, use smart phones. This shows the importance of SMEs goSMEs online ing online. “‘Go Online, in this conGoogle Thailand next year will fo- text, means business must have... cus on helping 3 million small and Full story at http://goo.gl/fgvHB medium-sized enterprises get on- Security market line. Currently, only 10 per cent of the Kingdom’s SMEs have adopted set for spike online business. This is a similar Thailand’s security industry will proportion to those in Malaysia and jump 30% in value to US$100 milIndonesia, while 30 per cent of Sin- lion next year, with higher wages gapore’s SMEs are online. prompting companies to rely more on technology, says the Thai SecuAriya Banomyong, country head of rity Association. TSA president KitGoogle Thailand, said SMEs were tichai Samittiwuttikul said the inthe backbone of the country’s econ- crease in the daily minimum wage omy. These companies are facing to 300 baht nationwide on Jan 1 will the forces of technology and con- include security guards. This will sumer behaviour. The big trend is prompt more companies to purSoLoMo (social, local, mobile me- chase digital products instead, esdia), expected to force businesses to pecially considering the improved have a presence on Internet. third-generation network and more

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advanced products available now, said Mr Kittichai, who is also managing director of the security firm SMC Group (Thailand) Co. “Companies are turning to software solutions to replace security guards, so instead of using, say, 10 people to look after a building, with CCTVs you need only three guards... Full story at http://goo.gl/LUwn2

Vigilance urged on fraud, cybercrimes

Thailand may lose its attractiveness as a safe place to do business if companies fail to adopt pre-emptive measures against fraud and cybercrime. “Thai businesses are expected to see a rising trend of complex embezzlement, corruption and ITrelated crimes over the next three to five years,” Sira Intarakumthornchai of PwC Thailand said. “We expect to see fraud risk grow in coming years unless businesses meet the challenge head-on.” Businesses need to be proactive and put in place fraud prevention measures such as... Full story at http://goo.gl/gGPqo

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BANGKOK BUSINESS BRIEF Mid-December 2012/Mid-Jan. 2013 General Inte

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Raimon plans new condo in Ekamai The listed developer Raimon Land Plc (RML) plans to launch a 2.1-billion-baht condominium in the Ekamai area in January, its first project in Bangkok after a few years’ absence. The Lofts Ekkamai will be located on a two-rai site near Sukhumvit Soi 65. Raimon bought the plot after it purchased the land on Ratchadamri Road for the 185 Rajadamri project in 2010. Financed by Thanachart Bank, The Lofts Ekkamai will comprise 264 units sized 28-150 square metres and priced at 150,000 baht per sq m on average or between 3.9 and 12 million baht a unit. “We plan to launch three new projects worth a combined 4-8 billion baht a year, as we aim for 10 billion baht in revenue in 2015,” chief executive Hubert Viriot said. Raimon also plans to spend two billion baht to buy more plots for future project. This year, Raimon projected revenue of... Full story at http://goo.gl/IVZqV

Prize of Wood launches prefab houses

Wooden products and flooring manufacturer Prize of Wood Industry has shifted its focus to prefabricated, customisable wooden houses with the launch of 11 designs priced from 500,000 to 1.5 million baht. MD Khomwit Boonthamrongkit said the company needs to diversify to new innovations, as wooden products are facing a serious threat from cheaper fibre cement. The company has spent 15 million baht on research and development to improve its prefabricated wooden houses after the first designs were introduced four years ago. “Our first set of designs was not successful, as they were unable to be customised like customers wanted,” said Mr Khomwit. The company bought a five-axis computer numerical control machine from Italy that improves the quality of wooden products with precision-cutting. Its... Full story at http://goo.gl/UzdPP

rest

To read the fu ll article of a story brief, enter the shor t code at the end the story into your browser: of liam Shakespe are

THE PALM ...added that the set aside a signi company had budget of Bt20 ficant investment million for over0 million to Bt300 seas expansion Full story at http: . //goo.gl/bH6PF

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...

Developers welcome proposed streamlining

Condominium developers have welcomed a proposed amendment in environmental regulations, expecting that the clearer process would slash land costs by 5-7 per cent a year. They reacted positively to the proposal by the Office of Natural Resources and Environmental Policy and Planning to revise the application process for environmental impact assessment. Rather than having to apply for EIA approval from an expert panel, developers would be required instead to comply with a full environmental checklist under the supervision of local authorities, which are in charge of issuing construction licences.

Thai Condominium Association president Thamrong Panyasakulwong said such a move would bring about a new standard practice for condo developers. “Currently when we decide to buy a plot of undeveloped land for a new condominium project, we have to bear the risk if the project cannot win EIA approval. The approval process relies heavily on the judgement of members... Full story at http://goo.gl/qHoNC

Mass-transit condos lead to new CBD

New condominium supply along the subway route between Rama IX and Phahon Yothin stations is 85.6% sold, says the Real Estate Information Center. Director-general Samma Kitsin said this area, especially along Ratchadaphisek Road, is poised to become a new CBD. Many new office buildings are being constructed along this stretch. They include new headquarters for the Stock Exchange of Thailand, AIA and many consumer product giants along with a large department store that opened last year. As well, a large commercial project called Makkasan Complex will be a major source of jobs, in turn attracting more condominium development. Mr Samma said the large number of condo projects and cheaper land prices than in the current CBD will combine to turn this part of Lat Phrao and Huai Khwang districts into the next CBD. However, too many new projects launching within a short period could slow the... Full story at http://goo.gl/GgCvC

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The Chambers

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liam Shakespe are Nature and life ar seasons of the yea the phases of the r http://goo.gl/o Caught up in da m zbNM ily ily forget that Asia stands to the b has cycles, too. We gain from W with the econo mi slowdown est of expansion, con c tra cov ery. However, The shift of eco o no mentum to the mic growth mo- phenomena affect... up numerous East has opened Full story at http://go op Asian countries portunities that out, suggests an should not miss Panel: Asia b economist. off, not immu The robust eco fr om global c nomic growth China and em of erging economi will open a ne es KUALA LUMPUR : Th w opportunity sis in the late 1990 for Asian economi s wa es wealth from tra to increase their call for the region that de in goods an out to be services at a tim a blessing i d e States and Europ when the United nearly 15 years later, as t e financial sec Full story at htt are... p://goo.gl/S65D6 able to sus tor is now tain a cer of shocks from the ta Grow with th fallo e fl ow We ste rn Hemisphere, of cycles to a panellist at a rece ‘There is a tid con ference. e men, which, tak in the affairs of leads on to for en at the flood, “There wi ll be more cris tune”, wrote Wi l- future, an d the Asian Sponsored by

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The American Chamber of Commerce in Thailand (AMCHAM) 7th Floor, GPF Witthayu Tower A, 93/1 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Tel: +66 (0)2 254 1041 Fax: +66 (0)2 251 1605 Website: www.amchamthailand.com Email: service@amchamthailand.com

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President Obama’s visit reinforces the 180-year U.S-Thai relationship

On November 18, U.S. President Barack Obama visited Thailand, continuing the U.S.-Thailand diplomatic relationship that began nearly 180 years ago with the signing of the 1833 Treaty of Amity and Commerce. During his stay, the President toured the Wat Pho Royal Monastery and met with His Majesty King Bhumibol. Later in the day, AMCHAM’s Board of Governors were among the honored 70 guests invited to a reception with the President and Prime Minister Yingluck. Following his Thailand visit President Obama traveled to Myanmar and Cambodia —becoming the first U.S. President to visit either country. Past U.S. Presidents to visit Thailand included: Lyndon Johnson (1966 and 1967); Richard Nixon (1969); Bill Clinton (1996); and George W. Bush (2003 and 2008).

AMCHAM Thailand Recognizes Top Corporate Social Responsibility Programs On November 21, AMCHAM honored 34 member companies that carried-out exemplary corporate social responsibility (CSR) programs in 2012. The honorees were presented with ACE recognitions, an appreciation presented by U.S. Ambassador Kristie Kenney and AMCHAM President Joe Mannix on behalf of the AMCHAM Corporate Social Responsibility Excellence Recognition Program (ACE). To qualify for an ACE recognition, a firm’s CSR program must receive high-marks in four categories: (1) Attention to business objectives and societal needs; (2) Creation of long-term economic and social gains; (3) Communication and sharing of best practices; (4) Program sustainability. Special designations were given to firms that have received the ACE award for three straight years (Silver Award), firms with excellence in creativity and innovation (Creative Partnerships), and for Small and Medium Sized Business (SMEs). The 34 award recipients were (special designations in parentheses): • American International Assurance • Central Food Retail • Chevron Thailand Exploration & Production (Creative Partnership and Silver Award) • Citibank (Silver Award) • Coca-Cola (Creative Partnership and Silver Award) • Dow Chemical • Du Pont

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• Esso (Silver Award) • FedEx Express (Creative Partnership) • Ford Motor Company • Foster Wheeler • Four Seasons Hotel Bangkok (Silver Award) • General Motors (Creative Partnership) • GlaxoSmithKline (Silver Award) • Google (Creative Partnership) • Grand Hyatt Erawan Bangkok (Creative Partnership and Silver Award) • Hanesbrands (Creative Partnership) • Hemaraj Land And Development (Silver Award) • HSBC (Creative Partnership) • McThai (Creative Partnership) • Microsoft (Creative Partnership and Silver Award) • Minor International (Creative Partnership and Silver Award) • MSD • Philip Morris (Silver Award) • Prem Tinsulanonda International School (SME) • Project Solutions International (SME) • Procter & Gamble Trading • PTT Global (Creative Partnership and Silver Award) • Santa Fe (Silver Award) • SAS Software • Seagate Technology (Silver Award) • Standard Chartered Bank • Tour de Asia Bicycle Touring (Creative Partnership and SME) • YUM Restaurant International (Creative Partnership)

BANGKOK BU SINESS BRIEF

December 20 11

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Mid-December 2012/Mid-January 2013 BANGKOK BUSINESS BRIEF

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Use your smartphone’s QR Code scanner or enter the short code to go directly to AustCham’s website.

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The Australian-Thai Chamber of Commerce (AustChamThailand) 20th Floor, Thai CC Tower, 889 South Sathorn Road, Yannawa, Bangkok 10120 Tel: +66 (0)2 210 0216-8 Fax: +66 (0)2 675 6696 Website: www.austchamthailand.com Email: admin@austchamthailand.com

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Australia and Thailand in an integrated Asia 2012 Business Conference Last month AustCham hosted its first business conference in five years and the feedback has been fantastic. Focussing on the theme of ‘Australia and Thailand in an integrated Asia’, the conference presented 18 well versed and captivating speakers in a little over one day. Commencing with an elegant dinner at the St Regis on 12 November the keynote speakers, Gilles Planté and Dr Sarasin Viraphol, kicked off the conference by emphasising that the ‘future of Asia is in Asia’ and set out a convincing case for boosting the Australia-Thai partnership in trade and investment. The conference plenary continued the following day opening with Australian Government’s Australia-Thailand Institute, Mike Courtnall Gilles Plante, CEO Asia Pacific, ANZ: “Rich Asian countries are turning to Asia for introducing the first panel discussion; ‘ Leveraging National Strengths their future rather than the US or Europe. They are investing in an Asian future...” in an Integrated Asia’. Throughout the day speakers presented on a broad range topics under the conference sessions; Ambassador James Wise summarised proceedings by pointing to the healthy dose of introspection – and self-criticism – by Thais and • Regional Connectivity – pipelines, lanes, trains and automobiles Australians alike, but reminded the audience that both Thailand and • Australia, the Asian Century and geopolitical pressures Australia had a lot to be proud of. They were both economically • Thailand: gateway to Myanmar and the Mekong Sub-region successful countries with strong commercial sectors and decades of • Productivity and skills – an imperative in an integrated Asia experience cooperating together. As he put it, “History shows that the roots of Australia-Thailand relations were commercial roots. Investment and trade led the way”. With a strong foundation on which to build, the 2012 AustraliaThailand business conference demonstrated there is still much untapped potential in the Australia-Thai business relationship. It also confirmed there is a core interest group in both Thailand and Australia strongly dedicated to promoting commercial links between these close friends. The full summary is available in the December issue of Advance and all conference speakers and their notes are listed on the conference website: www.austchamconference2012.com

Dr Sarasin Viraphol, Executive Vice President, CP Group: “The challenge for both sides is how to leverage their respective resources in hardware, software and peopleware...”

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Dr Bandid Nijathaworn, CEO and President, Thai Institute of Directors Association: “Asia will need Australia as much as Australia will need Asia...”

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Social responsibility for the individual

Mid-December 2012/Mid-January 2013

sible and ethical’ creation of value. The concept is that business professionals, much like doctors and Story continued from Page 1. lawyers with their oaths and codes mediate circle,” with ‘immediate of conduct, should also adhere to a circle’ being our family and friends. strict code of professional conduct. In other words, we all have an obligation to act in a way that benefits These new concepts have even society at large. In addition to the come to Thailand. In 2011, the Saphilanthropy inherent in this act of sin Graduate Institute of Business benefiting society, there is also an Administration of Chulalongkorn ethical component to the concept. University, where I work, estabIntegrity, honesty, and being ethi- lished the Sasin Centre for Suscal in our dealings with others are tainability Management (SCSM) essential for ISR to work. Without to teach and study the principles them, ISR becomes just another of sustainability management. version of a company throwing This academic year, sustainabilmoney at a charity to satisfy re- ity courses became part of Sasin’s quirements. core curriculum, and students have even begun to develop their own Business schools around the world version of the MBA Oath. Other have taken notice and have de- business schools in Thailand have veloped CSR and sustainability developed initiatives that promote courses for their MBA students. sustainability, such as sponsoring But educators also realize that an annual Global Social Venture the key to making the sustain- Competition. ability concept effective is on the level of the individual, not the For current business school stucorporate level. In 2008, Harvard dents, members of the so-called business school students initi- ‘Generation Y,’ all of this is in keepated the concept of an MBA Oath ing with their ideas of creating (www.theoathproject.org), a vol- meaningful change and working untary pledge by graduating MBA for organizations that match their students to commit to the ‘respon- own values. ISR is, in many ways,

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a natural extension of the ideals of tees, and according to the World Association of Non-Governmental the new generation. Organizations (www.wango.org), But for mid-career business people there are 141 NGOs in the Kingwho want to make a difference out- dom, with everything from Habiside of their corporate structure, tat for Humanity to Right to Play what options do they have in Thai- to the Thailand-based Population land? How can they engage with and Community Development their community and have a posi- Association (PDA). Many of these tive effect on society at-large? My organizations need more than just advice would be to act like a Gen-Y financial donations and offer voland seek out service organizations, unteer opportunities to anyone groups, and people that share your that is willing to help. values and interests. Can ISR transform the way compaRotary first came to Thailand in nies view their CSR activities? It’s 1930, and today, there are 295 Ro- certainly a step in the right directary Clubs spread across the coun- tion. Ultimately, ISR comes down try. I have been a member of a local to each individual and how they Rotary Club for the past five years, choose to contribute to their comand despite the time commitment, munity. But by making a decision to joining the Rotary Club of Bang- help society on their own, an indikok South was one of the best de- vidual can certainly influence their cisions I’ve made in my adult life. organization in a positive way. BeIn addition to Rotary, there are ap- ing a volunteer, campaigning for a proximately 300 Lions Clubs that cause, or just contributing in some do extensive community service small way to a person or group that work throughout Thailand and the needs help are perfect examples region. of ISR activities. Combined with a sense of integrity, honesty, and a If becoming a member of a club is commitment to ethical behaviour, not feasible or desirable, there are ISR could well make the business other options. The local Chambers world a better place. And if busihave charity projects or commit- ness is better, so is society.

An interview with the architect of Pure Najomtien Mr. Nicolas Buchler, project architect of Pure Najomtien, an extraordinary new condominium project just a 15-minute drive east of Pattaya City on the beautiful Na Jomtien seafront, answered a few questions recently: Why should potential homebuyers choose Pure Najomtien? When I saw the land that we are developing, I have to say it was a case of love at first sight. Everything about the location inspired me – the slope of the land, the beautiful natural environment and the fantastic views. The concept of the entire project came to me to build a haven of peace for the rich and famous as a retreat from the demands of their hectic city lifestyle. As the project has matured and the early vision is fast becoming reality, you can sense the soul and charisma of the concept. I am thrilled that our customers recognize the passion, commitment and quality behind the project. This is demonstrated by the fact that one in three visitors buy-in to Pure. Why do you believe that Pure Najomtien appeals to so many Thai buyers? Most city dwellers long to escape the traffic, noise and stress, if only for the weekend, and Pure is so convenient for Bangkokians. And the exclusivity factor comes into play, as there is no other project like Pure. Customers have complete freedom to choose space that matches their specific needs, and layout and interior design of their unit is based on their own sense of style and taste. The range of on-site facilities available is a huge bonus. An outdoor golf practice facility designed by one of the world’s leading course designers, HD golf simulators, boutique and convenience shopping, fine cuisine, the exclusive members-only BeachClub and Kids Club, to mention a few; there is something of interest for all. Our ambition at Pure is to develop an exclusive vibrant community, not just another half-empty condominium ghetto. As the architect of the project, what has given you the most satisfaction? Sticking to our eco-friendly principles. The project’s investors have been incredibly supportive of the long-term sustainability of the estate and protection of the unique seafront environment. This is evidenced by investment in solar power, water treatment and purification plant and a wind-harvesting facility, which will provide public are and emergency electricity supply to the entire estate. As well, home innovations such as LED lighting, sophisticated air-con systems and drinking-quality water to the tap means ecological sustainability and financial savings. I am delighted with the project teams commitment to constantly improve and encouraged by the positive feedback that we have received from our future residents. www.pureNajomtien.com

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The Calendar

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Dec.

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AMCHAM: Legal Cmte http://goo.gl/DQ4Ud Bangkok Entrepreneurs http://goo.gl/U98Ux

AMCHAM: Adopt-a-School Dedication – FedEx http://goo.gl/xCWAE

Bangkok Trader Networking Party http://goo.gl/6ngBg

18 BCCT: Board Meeting http://goo.gl/EnBSc

Jan.

AMCHAM: UMD Smith School Briefing http://goo.gl/B19z0

PPi Professional Hour http://goo.gl/QGpcQ

14 AMCHAM: UMD Smith School Briefing http://goo.gl/Jcajq

15 AMCHAM: Myanmar Task Force Meeting http://goo.gl/bjkXv

22 AMCHAM: Business Economics – Review of Thailand’s Property Market http://goo.gl/TN279

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Mid-December 2012/Mid-January 2013 BANGKOK BUSINESS BRIEF

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Thursday

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AMCHAM: Charitable Foundation Cmte http://goo.gl/n3I8z

AMCHAM 101 â&#x20AC;&#x201C; New Member Orientation http://goo.gl/iDZC5 AMCHAM: Social Networking http://goo.gl/rgUbv Tri Nations BBQ http://goo.gl/UnXRr

AMCHAM: Customs & Excise Cmte http://goo.gl/eXBrX

23 BCCT: Annual General Meeting & Luncheon http://goo.gl/0zh6g

Joint Chambers: Eastern Seaboard Networking Evening http://goo.gl/LJfWJ

AMCHAM: Committee Strategy Session http://goo.gl/BF9i0

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