Bangkok Business Brief - Volume 1, Issue 2 - January 2012

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BANGKOK BUSINESS BRIEF January 2012

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BUSINESS BRIEF

Vol. No. 1, Issue No. 2

January 2012

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3 Years and Counting Down to the AEC: Will Thailand Be Ready?

By Dean Outerson

As Asean nations gear up for the formal establishment of the Asean Economic Community (AEC) in 2015, both the public and private sectors in Thailand are realizing that with just three years remain-

Inside

General Interest Economy Government Finance/Investment Production Infrastructure/Logistics Retail/Services IT/Comms Tourism Real Estate Environment/CSR Business Organizations The Chambers The Calendar

2 3 4 5 6 7 8 9 10 11 12 13 14 22

ing, the time to lay the groundwork for regional cooperation, and even expansion, is now. Various industries have begun preparing for regional economic integration and have made progress, while others remain skeptical and are taking a much more deliberate approach. While this may be prudent

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for many Thai companies, there is a danger that when 2015 arrives, certain sectors of the economy will be left behind and lose out to other Asean countries and companies that are better prepared.

from Asean Secretary-General Surin Pitsuwan, who advised that the Thai government, in the wake of this year’s flooding crisis, realize the importance of the AEC and to attempt to boost confidence in the Thai economy, both regionally and The urgency of the situation was around the world. Indeed, Thaiindicated recently by comments Story continues on Page 20.

Main Elements of AEC Strategic Schedule

Single Market and Production Base • Free flow of goods • Free flow of services • Free flow of investment • Free flow of capital • Free flow of skilled labor • Priority integration sectors • Food, agriculture and forestry

Competitive Economic Region

Equitable Economic Development

Integration into the Global Economy

• Competition policy • SME development •C oherent approach towards • Consumer protection • I nitiative for ASEAN external economic relations • Intellectual property rights Integration (IAI) •E nhanced participation in • Infrastructure development global supply networks • Free flow of skilled labor • Taxation • e-Commerce

Human Resource Development

Research and Development

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Briefs General Interest

http://goo.gl/ozbNM

Anti-graft alliance vows to keep close watch

The Anti-Corruption Network (ACN), an alliance of private watchdog groups, yesterday launched the “Clean Thailand DIY” campaign to monitor the government’s spending of Bt800 billion earmarked for post-flood recovery efforts.

ACN chairman Pramon Sutivong said the group is inviting people to join its campaign for 2012 to watch post-flood recovery efforts, which the government has said...

Full story at http://goo.gl/C8if0

Tunnel analysts push for study

Despite the high price tag, the plan will be worthwhile – Although a

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...added that the company had set aside a significant investment budget of Bt200 million to Bt300 million for overseas expansion.

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proposed initiative to construct a 100-kilometretunnel to prevent future flooding in and around the capital will carry a hefty price tag, it is worth the cost, say underground tunnelling system analysts.

natural disasters, says the Thai- Thailand will ask Japan’s governland Business Council for Sustain- ment “and other international deable Development (TBCSD). velopment partners” to help assess the impact of planned hydropower TBCSD chairman Prasert Bun- dams on the Mekong, according to sumpun said companies have a joint statement today. Vietnam learned from the country’s worst earlier recommended a 10-year flood in five decades the signifi- delay for all Mekong hydropower “Thailand has a few options. No cant risks to their business. projects. major city relies solely on the canal. The advantage of under- “Business operators have only fo- Opposition to the Xayaburi dam ground tunnels is they don’t re- cused on financial performance may force... quire any additional land,” said and gaining market share. They Full story at http://goo.gl/N1Rxd Zaw Zaw Aye, secretary-general of overlooked...

‘Only minor impact’ the World Tunnel Congress 2012 Full story at http://goo.gl/wzks0 on European market Organising Committee. “For exLaos to Delay ample, if the damage from floodIn spite of some concern over the ing is 1 trillion dollars, an under- Mekong River Dam, flooding in Thailand and the euroground tunnel system could... zone debt crisis, more traders and Agrees to Further Full story at http://goo.gl/k60NS tourists from the European Union Studies will go to Thailand next year, acBusiness council Laos agreed to delay construction cording to a Thai envoy advises disaster of a $3.7 billion hydropower dam on the Mekong River to further “The inundation has had a minor plans study concerns among neigh- impact on the number of tourists Thai businesses should incorpo- boring countries that the project and very little on trade or investrate natural disaster risks in their would disrupt fisheries and rice ment. Tourists and investors still risk management plans and the production downstream. have high confidence to visit and government should empower a keep doing business with... single agency to take charge of Laos, Cambodia, Vietnam and Full story at http://goo.gl/cN7lh

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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

...

build the country, Commerce Minister Kittiratt Na-Ranong said on Wednesday.

Deputy Prime Minister Kittiratt said the government will implepolicies focusing on disBoT: Europe crisis ment tribution of income, increasing won’t hurt economy prices of agricultural products The continuing financial crisis in and raising of daily minimum Europe is causing uncertainty but wage of workers. it will not have much impact on the Thai economy, a central bank The government will intervene official said Tuesday. in the market to ensure that prices of agricultural goods are Bank of Thailand’s Office of Mac- reasonably high, particularly... roeconomics director Songtham Full story at http://goo.gl/1m0Dj Pinto said the BoT has been keeping a close watch on the situation. Export growth to It would have only a minimal af- narrow to single fect on the overall economy of digits next year Thailand.

Exports next year are expected to He said the central bank’s growth grow at a moderate single-digit projection of 4.8 per cent for next pace as the unresolved world year was based on the hypothesis economy erodes consumption, that Europe’s economy was not so says the Export-Import Bank of good but there was no sign that Thailand (Exim Bank). the situation was deteriorating Bank president Kanit Sukonthafurther. man said Thai exports would exMr Songtham said the economic pand slowly in 2012 compared figures in November might be... with this year’s 17-18% growth of Full story at http://goo.gl/9MWnQ US$22.8 billion. http://goo.gl/LjBqz

...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

Single world currency ‘inevitable’

Exim Bank is predicting a contraction in global demand because Robert Mundell, the Nobel Prize- of lingering economic woes in the winning Canadian economist, is large economies, which make up confident the 13-year-old Euro- 30% of the Thai export market. pean monetary union will survive and has reaffirmed his wish for a “Meanwhile, we have questioned universal currency. whether China’s government may have tried to...

Speaking yesterday in Bangkok, Full story at http://goo.gl/kJZPV he predicted European leaders will address the euro zone’s embattled Asia Faces ‘Much economies with important chang- Greater’ Risks on es in the economic bloc.

Global Slowdown,

Measures will likely include ADB Says amending the existing fiscal treaty Asian economies are facing “much and making troubled economies greater downside risks” now beadopt austerity measures. cause of the possibility of a recession in the U.S. and Europe and “It is difficult if not impossible to the threat of destabilizing capital go back in the current crisis, and flows, the Asian Development going forward requires a big...

Bank said.

Full story at http://goo.gl/ZkIky The biggest challenge for policy Strong economic makers in emerging East Asian growth again nations is to safeguard growth against the threat of another global predicted in 2012 economic crisis, the Manila-based Gross domestic product is ex- lender said in its Asia Economic pected to grow in 2012 by about Monitor report today. Uncertainty seven per cent on the back of over the world economy means... government investment to re- Full story at http://goo.gl/TVkMM

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JSCCIB wants Government change to Article 190

Government

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) suggested the governGovt vows to ment rapidly amend Article 190 of protect industry the charter to allow state offices to Amid high concerns over recur- freely deal with foreign countries. rence of flooding in May next year, Deputy Prime Minister and Payungsak Chartsuthipol, chairCommerce Minister Kittiratt Na- man of the Federation of Thai Ranong vowed to protect indus- Industries, said on Wednesday trial and trading areas under the that JSCCIB had set up a working soon-to-be launched master plan panel to coordinate with the govon water management. ernment, asking it to quickly move to change the Article 190. JSCCIB The Cabinet will today convene thought the article is a major... a special meeting to consider a Full story at http://goo.gl/DBiRf post-flood reconstruction budget, which Kittiratt hinted would Transport Ministry exceed Bt40 billion if the Cabinet clashes ‘slow gave the green light to all the proj- projects’ ects being considered at the meeting. The budget ceiling for recon- The reported management construction is said to be about Bt120 flict between Transport Minisbillion. ter Sukampol Suwannathat and Kittiratt said the government... his two deputy ministers, Chatt Full story at http://goo.gl/CrRYW Kuldilokeand Kittisakdi HathaSponsoredhttp://goo.gl/EIbH6

by TISCO Financial

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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

goo.gl/bH6PF

songkroh, could affect the minis- sures are available at the moment. try’s efforts to push forward megaproject developments to serve the Normally, the BoI’s exempted government’s policy, a source says. import duties for machinery and raw materials come attached with During the past four months the conditions regarding the type of ministry has shown little progress machinery and the exemption peon mega-projects promised by the riod. Also, the investment...

Pheu Thai Party during the gener- Full story at http://goo.gl/ZyDYr al-election campaign, including 10 mass-transit routes, the dual-track Kittiratt: B300 project, and high-speed rail. The daily wage plan ministry is key to bringing such still on projects on stream, which would The government’s plan to increase lead to massive investment in... the labour minimum wage to 300 Full story at http://goo.gl/bs1ri baht per day from April 1 next year will still be carried out despite the Tax measures to flood which has severely affected subsidise industries the economy and the value-added After months of inundation, the tax (VAT) will not be increased government has announced that from the current rate of 7 per cent, most factories in flooded industri- Deputy Prime Minister Kittirat Na al estates should be able to resume Ranong said on Sunday. operation early next year.

He said that despite the flood situTo ensure this will take place, the ation, the increase in the counfirst set of tax measures have re- try’s exports during the first eight cently been announced for the months was as high as 24 per cent, Board of Investment-promoted and the overall increase in... projects. Let’s find out what mea- Full story at http://goo.gl/RklBA

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More foreign fund flow next year

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the Asean Economic Community in 2015 because of problemswith the country’s fundamentals and regulations, and a joint government-private-sector committee should be set up quickly to implement a cross-border payment system, banks executives said.

Anuchit Anuchitanukul, senior executive vice president of Krung Thai Bank, noted that the current e-payment systems served only locals, unlike foreign banks, because of the regulations and business logistics.

Thai capital market’s price to earning (P/E) ratio of Thai shares is lower than that of the US stock market, while their dividend payment rates are higher. In addition, the stock market in Europe has yet to recover and therefore it is expected that more foreign fund will flow into the SET in 2012, said Mrs Thianthip.

“We still see messengers riding motorcycles to collect cheques and invoices instead of using electronic payment systems,” he said. “This indicates that the payment system in Thailand will not be ready once the AEC arrives.”...

Full story at http://goo.gl/cBl5T

Euro crisis expected to spur inflows

The Public Debt Management Office expects foreign capital to flow into Thailand’s bond market because of the protracted sovereign debt crisis in Europe.

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F

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

Foreign investors will return to Thailand next year because the Stock Exchange of Thailand (SET) is still attractive, Thianthip Supanich, director of the Capital Market Research Institute, said on Tuesday.

Foreign investors made total net sales of 17 billion baht over the first eleven months of the year, but they returned to make net purchase of 9.3 billion baht in December. This was a sign showing that...

Full story at http://goo.gl/QrEUw

...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

SME: Thai hub planned to back stakes from Europe in Asean

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Several European small and medium-sized enterprises are looking into making new investments in Asean, particularly Thailand, as the region is an emerging market with great opportunities for business growth.

To facilitate this, the European Commission has budgeted €2 million (Bt16 million) for the new Bangkok-based European-Asean Business Centre in Thailand Chakkrit Parapuntakul, director- (EABC). general of the office, said yesterday that Standard & Poor’s, an inter- Freya Lemcke (Eurochambres) national rating agency, would fur- said many SMEs in the European ther downgrade the creditworthi- Union from various sectors would ness of many countries in Europe. like to start businesses in the...

Full story at http://goo.gl/3wJKS Investors will not have opportunities to deal in Europe or the Unit- Asia Surviving Europe ‘Stress Test’ ed States, he said.

Boosts Case for

Thailand, among other countries in this region, stands to gain from Upgrade the next wave of capital flows.

Asian economies are withstanding Europe’s debt crisis so well that Foreign investors have plenty of some investors are positioning for room to expand in the Thai bond credit-rating upgrades in the region. market, as they...

Full story at http://goo.gl/T3hpZ Moody’s Investors Service is watching the trading in (Asian New rules needed credit-default) swaps, which proto get e-payment tect against non-payment, and The e-payment system of Thai how Asia copes with capital... banks is unlikely to be ready for Full story at http://goo.gl/jskTV

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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

Ltd, the world leader in hard-disk drives (HDDs) and storage solutions, has released the figures for 11% rise in demand projected its new read/write-head factory in next year – Amata Corporation Nakhon Ratchasima. http://goo.gl/UrVpE expects a windfall from the floods, increasing its target land sales to Costing 1 billion baht for both Better safe 2,000 rai next year, up from 1,800 construction and equipment, the than sorry rai, on demand from factories 29,800-square-metre building will The flood crisis has highlighted wanting to escape flooded estates. start operations next February. the desirability of diversifying operations across multiple locations. Viboon Kromadit, Amata’s chief The new plant will create several operating officer, is confident the thousand new jobs once it...

The unexpectedly huge scale of company can increase industrial Full story at http://goo.gl/yk9Wk the ongoing flood crisis has driven land sales next year, pumping its Failure to develop home the need for companies to revenue to 5 billion baht, up from water plan diversify their operations base af- a previous target of 4 billion. ter many saw their entire producnot an option: tion process shut down.

With seven industrial estates in manufacturers Ayutthaya and Pathum Thani inTotal damage has yet to be figured, undated, causing massive damage Given the magnitude of the floodbut already the potential price tag to the auto and electronics indus- inflicted losses to manufacturers is sending shivers down the spine tries, Amata has been contacted both small and large, Thailand’s of companies that had their entire by several factories that are ready industrial competitiveness can operation in a single location or to move... only be maintained if a compreeven based in one country.

Full story at http://goo.gl/UMKWR hensive water-management master plan is developed, panellists at “Yes, we’ve learned a lesson from Seagate completes a seminar said. this natural disaster. We thought... B1bn Korat factory Full story at http://goo.gl/eBZDB Seagate Technology (Thailand) Three industrial-estate operators

Production

Amata sees postflood boom

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said that aside from the construction of more robust flood barriers at the estates as a short-term measure, investors are demanding a water master plan for long-term security.

“The plan is a priority to ensure quick recovery in the manufacturing sector,” said Kobkarn Wattanav-rangkul, chairwoman of Toshiba Thailand and Bangkadi Industrial Park – one of seven inundated industrial estates.

“Though it may require seven to eight years to implement, the plan is a must; there are fears that this...

Full story at http://goo.gl/KUYkJ

Quality stamp for products

Thai products will be promoted with a “Thailand Trust Quality Mark” by the International Trade Promotion Department (DEP).

Research shows Thai products are known for their diversification and neat design, so the DEP will...

Full story at http://goo.gl/Mdw2B

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/bH6PF “ HOW CAN I GET MYo.glPEOPLE TO WANT TO DO THE THINGS I WANT THEM TO DO?” go

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

...

Infrastructure/Logistics selves in response to rising compe-

tition when the Asean community becomes a single market, effective in 2015.

http://goo.gl/Tg0b7

...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

Chula Sukmanop, inspector-general at the Ministry of Transport, IATA urges single said that transportation among airport for Bangkok Asean countries would become The International Air Travel As- more convenient after Asean besociation (IATA) has called on the comes a single market. government to continue expanding Suvarnabhumi Airport rather Thailand would also open its road than renovating flooded Don routes, covering a total length of Mueang Airport, which would be more than 4,000 kilometres, invery costly, noting |that having cluding railways, for other Asean dual airports does |not attract ei- countries. Therefore, Thai logistics ther airlines or tourists. firms need to increase their...

Full story at http://goo.gl/IWWq0 Guenther Matschnigg, senior vice president for safety, operations MWA using and infrastructure at the IATA, German technology told The Nation during its global to accelerate water media day in Switzerland last week that the government should purification process carefully consider the cost before The Metropolitan Waterworks refurbishing Don Mueang. The Authority (MWA) has adopted association believes the money Solvox technology from Germawould be better spent on expand- ny-based Linde to accelerate the ing and developing Suvarnabhumi purification of contaminated flood Airport, which would provide... water and ensure the good quality Full story at http://goo.gl/9OoP8 of tap water distributed in Bangkok and nearby provinces.

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Some Asian cities urged to fund infrastructure with municipal bonds

Thai Industrial Gases (TIG), a subsidiary of Linde, is committed to providing liquid oxygen used in the treatment process in addition Asian local governments search- to the installation of a purification ing for funds to pay for a slew of system worth Bt10 million to the infrastructure projects may need MWA for two months. to contemplate municipal bonds as an alternative funding source, MWA governor Charoen Passara according to a new report by Stan- yesterday said tap water to date dard & Poor’s Ratings Services. was still clean and safe for daily use. However, the amount of water The report discusses some of the contaminated after two months of region’s infrastructure needs, as flooding is enormous, and the... well as the key challenges facing Full story at http://goo.gl/IuuBK Asia’s policymakers as they attempt to find funding solutions Ch Karnchang gears and address long-standing inves- up for billions’ of tor concerns about the region’s contracts bond markets. It also examines what needs to be done to kick- Ch Karnchang, the country’s start the region’s municipal markets. second-largest construction company, is ready to take on Bt50 bil“Economic and market conditions lion to Bt60 billion worth of postare probably ripe for many coun- flood work. tries in emerging Asia to contemplate new funding solutions...

Chief executive officer Plew Full story at http://goo.gl/exy4L Trivisvavet said yesterday that all flood waters have been Logistics firms told after mopped up, old infrastructure to shape up before such as roads would need to be repaired while new infrastrucAEC Thai logistics services providers ture, such as roads, buildings... have been advised to adjust them- Full story at http://goo.gl/vfvIl

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8

BANGKOK BUSINESS BRIEF

Briefs Retail/Services

www.bangkokbusinessbrief.com

January 2012

To read the full article of a story brief, enter the short code at the end of the story into your browser:

Thais’ average online spending at Bt19,600

...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

president for marketing and public relations at Central Food Retail, which operates Tops Super, Tops Market and Top Daily, said the company would officially launch its “Top Shop Online” division next year. Its e-division is already in operation on a trial basis and has received good customer feedback.

Online shoppers in Thailand are sticking to the same online holiday budget they set for themThai AirAsia delays shopping selves last year, with half planning IPO to spend the same amount as they AirAsia insisted yesterday that the did in 2010, according to the Visa proposed initial public offering of Holiday Season Online Shopping its Thai affiliate was still on track, Study.

Under this new marketing stratthough with an apparent shift to egy, Phattaraporn said the compathe first quarter of next year in- The study revealed that 33 per cent ny would also launch mobile apstead of this month. of respondents plan to set aside a plications for this service next year higher online holiday shopping and believes these channels will...

Tony Fernandes, the CEO of budget this year, while 18 percent Full story at http://goo.gl/O2EHH Southeast Asia’s biggest low-cost said they would spend...

Munich Re Expects carrier, said the planned IPO of Full story at http://goo.gl/gz3lX Thai Flood Claims Thai AirAsia (TAA) and that of Retailers eye Jakarta-based offshoot AirAsia of About 500 Indonesia (AAI) were both on online distribution Million Euros schedule with regard to due dili- channels gence and regulatory approval.

Thanks to the development of mo- Munich Re, the world’s biggest bile technology, a rising number reinsurer, estimates its net claims “Thai AirAsia is submitting its ap- of Internet users and more con- from the flooding in Thailand at plication to regulators for market fidence in online payment, many about 500 million euros ($671 listing early in the first quarter of leading retailers are planning to million) before taxes.

2012,” he said, with AAI to... enter the e-business field next year.

Full story at http://goo.gl/0raoW Phattaraporn Phenpraphat, vice- The estimate “is still subject to unhttp://goo.gl/QyrTE

Business affected by the floods?

goo.gl/bH6PF

certainty, as the water is draining away only very slowly and has still not fully receded in some areas,” the Munich-based reinsurer said in a statement today. “It therefore remains difficult to estimate losses in the worst affected industrial areas around Bangkok.”

Swiss Re Ltd., the world’s secondbiggest reinsurer, earlier this week estimated its claims from the floods at $600 million and said it expects a total insured market...

Full story at http://goo.gl/q9Irf

PR industry’s Q4 earnings take a hit

Crisis management and socialmedia solutions will be the two key issues of interest to businesses next year because of the high level of uncertainty over the economy, politics and natural disasters.

Danai Chanchaochai, chief executive officer of DC Consultants and Marketing Communications, said it was imperative for Thailand to...

Full story at http://goo.gl/2eEOh

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2

BANGKOK BU SINESS BRIEF

Briefs 9

BANGKOK BUSINESS BRIEF January 2012

General Inte

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IT / Comms

http://goo.gl/VwYn9

December 20 11

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

In fact, more than two-thirds of companies surveyed by global professional services company Towers Watson, plan to increase their use of social-media tools over the next 12 months though many question their...

Full story at http://goo.gl/7p1wn

EGA plans master centre for business continuity

The government plans to set up a state data centre to support business continuity during natural disasters and political turmoil, says the Electronic Government Agency (EGA).

...

F

its IT competitiveness ranking, but the country’s PC software piracy rate is fast declining, says a new report by the Economist Intelligence Unit.

service

The National Broadcasting and Tele-communications Commission has given approval to cellular operators to test fourth-generation cellular broadband service on the 2.3-gigahertz and 1,800-megahertz frequencies.

NBTC commissioner Colonel Settapong Malisuwan said the watchdog had approved a joint application by Advanced Info Service (AIS) and TOT to offer Long Term Evolution (LTE) technology 4G service on TOT’s 2.3GHz spectrum on a trial basis. The state agency will use 20MHz of its total 64MHz bandwidth of the spectrum in the trial.

“In early January, the EGA will submit a proposal to seek cabinet AIS and TOT will jointly... approval for the data centre proj- Full story at http://goo.gl/XOzbQ ect,” said director Sak SegknoonSurvey: Cloud thod.

“The centre will consolidate all state agency data centres into a single unit” to eliminate redundancy. If we want any data now, we have to hop on and off in different places instead of taking essential data from a single place.”

goo.gl/bH6P

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

Thailand’s IT competitiveness ranking slipped to 50th in this year’s IT Competitiveness Index, Global survey says more compa- from 49th two years ago. nies bank on new-media tools to deliver information to employees The Business Software Alliance (BSA), which sponsored the reA majority of companies world- port, said blame falls mainly on... wide say they are becoming more Full story at http://goo.gl/R5y6q knowledgeable about the use of social-media tools to connect NBTC approves with and keep their workforces trial run of 4G informed. cellular broadband

Firms embrace social media

...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

security emerging concern among users

Companies in South Asia are confidently wading into cloud computing, but they admit complicated operational security is a top concern, according to the The agency will assess the efficien- 2011 state of cloud survey. cy of government data centres and integrate related ones. The central Conducted by the leading data data centre will be sited in a prov- security firm Symantec, the surince such as Chon Buri to shield vey found 84% of 1,100 organit from... isations surveyed in Thailand, Full story at http://goo.gl/nptTm Singapore, Malaysia, Indonesia, Vietnam, Philippines and India Thailand’s IT are confident about shifting to ranking slips a notch cloud computing _ the use of apCAT Telecom and True Corp plications hosted online. group next week will discuss amending their contracts for joint “Most believe moving to cloud...

Thailand has slipped one spot in Full story at http://goo.gl/mFizU

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10

BANGKOK BUSINESS BRIEF

Briefs Tourism

http://goo.gl/fxE4d

New TAT campaign aimed at getting off on the right foot with foreign arrivals The Tourism Authority of Thailand (TAT) will introduce “Thailand Welcomes the World”, its new campaign aimed at impressing international travellers from their first step inside the country.

“Thailand is now rehabilitating itself in the wake of massive flooding, so we must make a strong impression on tourists by giving them a warm welcome as soon as they arrive,” said governor Suraphon Svetasreni.

The 20-million-baht campaign,...

Full story at http://goo.gl/8Yhsc

www.bangkokbusinessbrief.com

January 2012

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TAT hungry for Chinese market The Tourism Authority of Thailand (TAT) plans to restore the Chinese market after the mainland lifted its travel warning last week.

...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

have a functioning nurse room for as visitors return to the Kingdom emergency first aid, as it is a re- after delaying trips because of the quirement of the Hotel Act. flooding crisis.

“Even genuinely registered operators should not receive a licence extension if they don’t have a nurse room,” THA president Prakit Chinamourphong said yesSansern Ngaorungsi, TAT’s depu- terday. ty governor for Asia and the South Pacific, said the agency will sup- The association has submitted port half of the marketing cam- four requests to Interior Minister paign cost for travel agents who Yongyuth Wichaidit for the govjoin the project to promote 10 ernment to continue to help upcharter flights from Chinese prov- grade hotel standards and safety inces that have never had flights through the Hotel Act. to Thailand such as Shanxi Sheng, Chongqing, Hebei, and Henan. The requirement for a nurse room The flights will start in May 2012... in every hotel was...

Full story at http://goo.gl/ySo1u Full story at http://goo.gl/rpBUq

THA presses govt to enforce ‘nurse room’ requirement in all hotels

goo.gl/bH6PF

Kingdom set for post-flood tourism rebound

Representatives of both the private The Thai Hotels Association is and public sectors are predicting urging the Interior Ministry to that the tourism industry will see ensure that all registered hotels strong growth in the coming year

Marc Begassat, general manager of Pullman Bangkok King Power Hotel, said that not only foreign tourists, but also business travellers and Thais would require the use of hotels for meetings and events.

Many tourists and businesspeople put their plans to travel to Thailand on hold during the flooding crisis in October and November, but they are expected to...

Full story at http://goo.gl/71iFh

Despite more rivals, TCEB confident of winning

Although the countries bidding to host the World Expo 2020 have grown from two to five, the Thailand Convention and Exhibition Bureau (TCEB) is confident that Ayutthaya remains the top...

Full story at http://goo.gl/sgOS0

2

BANGKOK BUSINESS BRIEF January 2012

BANGKOK BU SINESS BRIEF

Briefs 11

General Inte

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Real Estate

December 20 11

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...

F

Anupong wins top award

GH Bank sets flat growth for 2012 loans

Location has normally been the main factor in a property project, corresponding positively to the cost estimate and in turn affecting Government Housing Bank (GH banks’ credit line approvals. DeBank) expects zero growth next velopers have favoured areas outyear due to the impact of the side Bangkok proper but... floods.

Full story at http://goo.gl/F5a26

Land prices rise sharply after floods

Land prices in Bangkok’s inner areas such as Siam Square have surged dramatically to Bt1.4 million per square wah(4 square metres) in the aftermath of the severe floods that hit many areas, The flood crisis has not only hit according to the latest survey of homebuyers in the pocketbook the Agency for Real Estate Affairs but also caused them to delay their (AREA), an independent properdecisions. ty-consulting firm.

“People who want to buy a new home right now are mostly delaying their decisions to reconsider,” Mr Worawit said. “They need to review the location to make sure it is safe from flooding.”

goo.gl/bH6P

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

The listed developer Asian Property Development Plc (AP) won http://goo.gl/hPK52 Best Affordable Condo Develop(Bangkok) for its project 90-year maximum ment Rhythm Ratchada while its CEO lease term proposed Anupong Asavabhokhin won Real An extension of the current maxi- Estate Personality of the Year in mum lease term to 90 years from Thailand Property Awards 2011.

30 years would help to address problems of Thai nominees hold- Best Developer went to Minor ing property ownership for for- International Plc. Minor’s project eigners while more than doubling The Residences at The St. Regis property values and generating Bangkok was the winner of three more tax revenue. awards at yesterday’s event including Best Condo Development The inability to own land in Thai- Thailand, Best Luxury Condo Deland and an unattractive maxi- velopment (Bangkok) and Best... mum lease term of 30 years for a Full story at http://goo.gl/BC2bF property prompt some foreigners to appoint Thai nominees to hold Mortgage rethink the property for them.

This year’s flood crisis will spark a sea change in home loan criteria They may also set up a firm to hold the property, which often results The mortgage sector will likely in a dispute between the foreign- change significantly following the ers and their Thai nominees. flood crisis as banks readjust their debt approval criteria.

Sorachon Boonsong, a partner in the international law firm Baker & Project location, appraisal prices, McKenzie Ltd, yesterday said this home insurance and the property’s does not benefit the country, as... business strategy will all be scrutiFull story at http://goo.gl/X2Ryw nised more closely.

President Worawit Chailimpamontri said GH Bank has set a 2012 loan target of 99 billion baht, on a par with this year’s goal, as the deluge in recent months will tame the pace of housing demand.

...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

The areas along Sukhumvit Road, where Siam Paragon Shopping Complex and Siam Square are located, have seen rates shoot up to as high as Bt1.4 million per square wah, or Bt560 million per rai, a 17-per-cent surge from He believes next year’s first quar- Bt1.2 million per square wah last ter could be an opportunity for... year. The Siam Square area also...

Full story at http://goo.gl/L1T33 Full story at http://goo.gl/ctvxg

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12

BANGKOK BUSINESS BRIEF

Briefs Environment / CSR

http://goo.gl/Y09sv

Balancing the biofuel dilemma The usage of biofuels in the aviation sector is set to gain momentum next week with the launch of Thai Airways flights using the crop-based energy source. While airlines see the shift as contributing to their financial bottom-lines, as well as reducing global warming, it is against the backdrop of a growing debate over the impact it will have on long-term land-use ratios and the price of food.

In an announcement last week, THAI said it is set to be the first airline in Asia to fly a commercial passenger flight using biofuels to support the company’s Travel Green initiative that is part of its corporate social responsibility...

Full story at http://goo.gl/0ruX5

www.bangkokbusinessbrief.com

January 2012

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China and Asean explore green future

...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

for its active role in bolstering the 25 per cent within 10 years, which Thai workforce through technol- would lead to a significant drop in ogy. crude-oil imports.

Huge potential in harnessing world-leading Chinese solar tech- Under the BETTER project, the nologies to meet soaring demand company, established in 1993, for cleaner energy. gives tools to the Thai workforce nationwide to improve their comAsean and China have pledged to puter literacy, apply practical ICT exchange knowledge on how to skills and tools to their business, create low-carbon and livable cit- upgrade their job skills using ICT, ies as part of the region’s growing improve their self-learning skills green awareness. towards life-long-learning experiences, and gain more information While Asean countries are en- accessible through the Internet. dowed with rich natural resources, a lot of damage has been done to Currently, 21,467 people are benthe environment over the past few efiting from the programme with decades of industrial.... expectations that the number will Full story at http://goo.gl/lKVzU reach 40,000. Participants confirmed that the IT knowledge and Microsoft’s confidence they gained improved...

BETTER project Full story at http://goo.gl/H4l2Z

bags CSR award

The American Chamber of Commerce in Thailand (Amcham) has picked the ‘BETTER’ programme of Microsoft Thailand for its CSR award from among 36 companies,

goo.gl/bH6PF

The National Energy Policy Council (NEPC) yesterday approved the new alternative-energy plan.

From 2012 to 2021, alternativeenergy consumption would be raised from 7,400 kilotonnes of oil or equivalent – the amount of energy released by burning that...

Full story at http://goo.gl/nzQTZ

Tesco Lotus opens Thailand and Asia’s first zero carbon store

Tesco Lotus last week announced the opening of Thailand and Asia’s first zero carbon store in Bang Phra in Chon Buri province,demonstrating its conPlan to raise tinued commitment to serving the alternative energy Thai people and supporting the Thai economy, while continuing consumption to care for the environment. The Thailand aims to increase con- store, which emits zero net carbon... sumption of alternative energy to Full story at http://goo.gl/U0Nhx

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2

BANGKOK BUSINESS BRIEF January 2012

BANGKOK BU SINESS BRIEF

Briefs13

General Inte

Use the QR Code reader in your smartphone to see all the stories in a certain category.

Business Organizations

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Governance ‘scorecard’ planned for public companies in Asean

December 20 11

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

...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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...

Thailand remains attractive

Twenty one member countries of World Trade Organisation (WTO) filed 425 questions to the Thai delegation joining the sixth trade policy review in Geneva, Switzerland.

To Srirat Rastapana, director-general of the Trade Negotiations DeLed by Securities Commission partment, the questions showed Malaysia, Asean corporate gover- Thailand’s relative attractiveness nance (CG) experts are collabo- to foreign investment. rating on the development of a “CG scorecard” to rank publicly “Thailand is now among the top listed companies in the region.

20 countries in global trade and investment. In 2010, the value of The experts are Assoc Prof Mak exports and imports accounted Yuen Teen of the National Univer- for 135 per cent of gross domestic sity of Singapore Business School, product. Thailand was ranked...

Rongruja Saicheua of the Thai In- Full story at http://goo.gl/WouxX stitute of Directors, Malaysian CG specialist Prof Salleh Hassan, and Asean chief outlines Prof Sidharta Utama from the In- broad goals of donesian Institute for Corporate regional integration Directorship.

In spite of the successful outcome They will assess Asean public of the Asean Leaders Summit in companies against an array of Bali last week, the association and evaluation criteria and develop a its key tradingpartners are expectranking list of companies. The list ed to strengthen cooperation on is expected to be released in the peace, social security and intrafirst quarter of 2012. regional trade to ensure a smooth integration into a single commu“For example, Thai companies nity by 2015. have always come up with detailed minute meetings. Malaysia and “We are living with challenge and Singapore can learn from... a bubble economy. Asean and Full story at http://goo.gl/k6eIE East Asian countries are expected to enhance cooperation in ecoEnterprises urged nomic, social and environmental to join trade spheres so that they will ensure stable growth,” Surin Pitsuwan... associations Full story at http://goo.gl/1usYv The Federation of Thai Industries (FTI), the country’s most power- Apec economies can ful private-sector organisation, do their part: IMF has urged enterprises to strengthen their businesses through trade Asia Pacific economies are urged associations to increase their bar- to lend their hands in balancing gaining power. the global economy in light of fragile situation in the euro zone, At a seminar on good business said International Monetary practice, panellists urged enter- Fund managing director Chrisprises to become members of tine Lagarde. trade associations so that the government will listen to their con- She said that it is important to cerns. avoid other risks to the global economy, especially those relatGIZ representative David Ober- ed to low growth and unaccepthuber said enterprises, particular- ably high unemployment. “For ly small and medium-sized ones, APEC’s advanced economies, this should strengthen their coopera- means primarily adopting strong tion so that they will have more medium-term fiscal consolidapower to make their needs... tion plans, which will create...

Full story at http://goo.gl/QYrOX Full story at http://goo.gl/h2d7w

Asean Leaders Agree Myanmar Will Chair Grouping in 2014

Leaders of the 10-member Association of Southeast Asian Nations agreed that Myanmar will chair the group in 2014, a move they say will provide further momentum for reform in the former military dictatorship.

“All leaders are in agreement that significant developments have taken place in Myanmar and those changes have made it more conducive for Myanmar to carry this responsibility,” Indonesian Foreign Minister Marty Natalegawa told reporters in Bali today.

“We are trying to ensure that the process of...

Full story at http://goo.gl/eASO4

Can Asean centrality be maintained at East Asia Summit?

When Asean decided to invite the United States and Russia to join the premium leader-led East Asia Summit (EAS) in July 2010, it had no idea that their presence would impact on the overall pattern of

engagement with other dialogue partners.

As it turns out, the desire to construct an expansive Asean-led regional architecture is being challenged fervently by other non-Asean EAS members. They have already collectively demanded to be treated as equal, as the sixth EAS scheduled on 18 November, is approaching. This is a red-herring as it could undermine the...

Full story at http://goo.gl/iJ2KZ

SCG chief calls for more intra-ASEAN investment, FDI

Asean countries should be open to intra-region investment and speed up market integration as well as invite foreign direct investment (FDI) as fast as possible to reap the benefits from the creation of the Asean Economic Community (AEC), the head of Thailand’s largest industrial conglomerate said yesterday.

Kan Trakulhoon, president and chief executive officer of Siam Cement Group (SCG), also assured investors during the Asean...

Full story at http://goo.gl/de0BL

2

14

BANGKOK BUSINESS BRIEF

BANGKOK BU SINESS BRIEF

Briefs

December 20 11

www.bangkokbusinessbrief.com

January 2012

The Chambers

General Inte

rest

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

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

...

The American Chamber of Commerce in Thailand (AMCHAM Thailand) 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 2012 Board of Governors Elections The Grand Hyatt Erawan Hotel hosted AMHCAM’s annual General Meeting and Board Elections Lunch, with an address from U.S. Ambassador Kristie Kenney.

During lunch ballots were counted and at the conclusion of lunch AMCHAM’s 2012 President, Joe Mannix, announced the newly elected Governors to the 2012

Board: Daleen (Dee) Richmond, General Manager, Agri-Source; Michael Diamente, Managing Director, Dana Spicer; John Atanas, Chairman & Managing Director, Esso; Jeffrey Nygaard, Vice President & Country Manager, Seagate; Douglas Harter de Weese, Managing Director, Vektor Telematics. Re-elected for a second term were: Peter Fleet, President ASEAN, Ford Motor Company; Pornlert Lattanan,

To re enter the sto

http://goo.gl/mbUpG

President and CEO, General Electric International Operations; David Lyman, Chairman, Tilleke & Gibbins.

Each year, AMCHAM throws the Eggnog party to thank its members for their support. The party includes Christmas foods, gifts and of course plenty of eggnog.

The newly elected Governors will Even Santa Claus was on-hand be joining returning board mem- to take gift requests from future bers: Peter Eliot, Country Officer members. for Thailand, Citibank; Janice Van Ekeren, Chief Financial Officer, In keeping with the holiday spirit, Bank of Ayudhya; Bruce Hoppe, AMCHAM members bring gifts or Vice President of Asia Operations, cash donations for the HDF MerEmerson Electric; Brian Housh, cy Centre. Since 2007, this annual owner and Managing Director, tradition has provided the Mercy English Solutions; Vorapong Vo- Centre toys and Baht 321,690. rasuntharosoth, Government Affairs Leader for South East Asia/ The AMCHAM donated toys will Australia/New Zealand Region, be received by children staying at Dow Chemical. the Centre and by children who lost possessions due to the flood.

Congratulations to the newly elected 2012 Board Governors!

The Mercy Centre was founded in 1972 by Father Joe Maier and A Good Time for a Good Cause: Sister Maria Chantavarodom to The Annual Festive Eggnog Party provide education support for The American Chamber of Com- children of poor neighborhoods. merce in Thailand (AMCHAM) Today the Centre is part of the celebrated the annual Eggnog Fes- Human Development Foundative Holiday Party on December 8 tion under the Royal Patronage of and raised Baht 71,810 and a full HRH Princess Srirasmi and procart of toys for donation to the vides education and quality of life Human Development Founda- assistance to over 6,000 children tion’s Mercy Centre. and over 5,000 adults.

AMCHAM Thailand Charitable Foundation presents check for Baht 71,810 to Father Joe and his staff. Donated money was raised at AMCHAM’s annual Festive Eggnog Party.

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16

BANGKOK BUSINESS BRIEF

BANGKOK BU SINESS BRIEF

Briefs

December 20 11

www.bangkokbusinessbrief.com

January 2012

The Chambers

General Inte

rest

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

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

...

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.amchamthailand.com Email: admin@austchamthailand.com Disruptions from the floods notwithstanding (and we were one of the lucky ones), the AustralianThai Chamber of Commerce is pleased with our achievement for 2011. We delivered a strong program of outputs and activity for our members throughout the year.

We had a highly successful year of events, averaging more than one event per week and serving some 7,000 customers. We were proud to host the Australian Head of

State, the Governor-General, Her Excellency Quentin Bryce AC, to open AustCham’s community services project at Wat Phutakian Kindergarten in Kanchanaburi.

And we spearheaded our renewed focus on business through the establishment of a Manufacturers and Infrastructure Group and an alliance with a top-tier Australian consulting firm, AEC Group, to research the nature and extent of Australian business in Thailand.

Also in 2011, we formalised an agreement with the Thai-Australian Association (TAA) to jointly run the AustralianAlumni program, and for the first time brought together all of the Australian university representatives in Thailand under a single Alumni Council umbrella. We won a grant from the Australian Government for the AustralianAlumni initiative, which we intend to officially launch at a major event in early 2012. Stay tuned for details.

Our AustCham Ball and AFL Grand Final celebration were again highlights of the year, between them attracting some 900 guests. Courtesy of Air Australia we gave away four tickets to Australia, among the 220 other prizes available in AustCham charity raffles and door prizes. Our efforts contributed to more than Baht 1.3 Million being raised for charity.

The AustCham website received more than 3,000 visits each month during 2011, and we dispatched 166 e-news notices. There were at least 48 newspaper reports of AustCham’s activities in 2011. And an AustCham opinion-piece was published in the widely-respected broadsheet the Australian, which attracts a daily readership of more than 135,000. We published twelve

To re enter the sto

http://goo.gl/N47Gg issues of our own magazine, Advance, printing some 120,000 words and 60 business articles. It was a busy year.

Finishing the year on a high note, the Australian Ambassador to Thailand, HE James Wise, and his wife Teresa once again kindly hosted AustCham members for Christmas Sundowners at their residence. This was a fantastic celebration for which AustCham would like to thank the Ambassador and his wife. Along with the British, French, Irish, and New Zealand Chambers of Commerce, AustCham also donated Baht 258,000 to NAKSUU Tigers (Thai word for ‘Noble Warrior’) for its Rugby program ‘Changing Lives Forever’ which targets underprivileged children in the slum communities of Bangkok. The money was raised through sponsorship of the Combined Chambers Rugby World Cup Series of Events.

We also closed out the year by partnering with Baker Tilley Thailand to support a briefing by the Australian-led Save of Children operation on the social and humanitarian impacts of the Thai floods. Thanks to Baker Tilley for helping us to spotlight this important issue.

2012 Sponsorship Packages Available NOW!

Join AustCham’s Corporate Sponsors receive unbeatable brand promotion and access to exclusive benefits.

• A Baht 300,000 Gold Sponsorship package returns Baht 382,000 value!

• A Baht 200,000 Silver Sponsorship package returns Baht 235,000 value!

• A Baht 100,000 Bronze Sponsorship package returns Baht 112,00 value!

Contact the AustCham Office for further details.

Phone: +66 2 210 0216 Email: admin@austchamthailand.com

2

BANGKOK BU SINESS BRIEF

December 20 11

Briefs 17

www.bangkokbusinessbrief.com

BANGKOK BUSINESS BRIEF January 2012

The Chambers

General Inte

rest

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

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

...

British Chamber of Commerce Thailand (BCCT) 7th Floor, 208 Wireless Road, Lumphini, Pathumwan, Bangkok 10330 Tel: +66 (0)2 651 5350-3 Fax: +66 (0)2 651 5354 Website: www.bccthai.com Email: greg@bccthai.com The end of the year has been a busy period for BCCT. In the four weeks from mid November to mid December we held 11 events, many focusing on business rehabilitation and business recovery from the flood impact.

In addition the Chamber dedicated resources to help raise funds for flood victims at our two flagship events. The Ploenchit Fair raffle sales with support from our members in selling, buying and donating prizes earned a neat 800,000 THB. The full amount without deduction, together with money raised from other stalls at the fair, will be donated to a charity to aid flood relief.

Our annual Christmas lunch on 15 December was another special occasion where members, colleagues, friends, family, staff and business partners celebrated together. In the true sharing spirit of Christmas, money raised from the sales of raffles and from the auction will also be donated to a charity to assist those who were affected by the flood. This amounts to another 400,000 THB. This could

http://goo.gl/Vav3Q

not have been possible without Key Benefits of joining the BCCT the support of our prize donors, our auction winners and everyone • E xposure to the that bought raffle tickets. business community •B usiness presentations As we bid goodbye to the year, we and lectures also sadly have to say farewell to • Networking opportunities Graham MacDonald who has de- • BCCT membership contacts cided to step down from his po- • Business and economic reports sition as Chairman of the board • Training programs of BCCT. Graham has been on • S ports, social and the board of BCCT for 14 years, charitable activities the last two of which he served as Chairman. He will of course remain active within the BCCT community, and has offered to provide advise to the new board that will be elected at the Annual General Meeting on 26 January 2012.

Office Hours Open weekdays from 8.30 am – 5.30 pm, the BCCT office also incorporates a small library providing access to UK and Thai trade directories/CD ROMs, Chambers of Commerce handbooks, business journals and magazines.

There is also a small meeting room available for members use during office hours.

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As we enter into the new year, our commitment and focus remains on facilitating ties between Thailand and the UK, and to creating opportunities for our members.

For more information and for our upcoming activities visit www.bccthai.com or like us on Facebook ‘British Chamber of Commerce Thailand’.

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For more details, Contact Jay Cammack on 02-207-1023 or email : jay.cammack@iag.co.th Graham Wainwright, auction winner for the England 1966 Football World Cup replica team shirt signed by 10 of the 11 winning players.

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18

BANGKOK BUSINESS BRIEF

Briefs

The Chambers

15 Soi Tonson, Ploenchit Road Lumpini, Pathumwan Bangkok 10330 Tel: +66 (0)2 309 5250 Website: www.beluthai.org Email: info@beluthai.org

http://goo.gl/EGpi8

Danish-Thai CC (Dancham) 34 C.P. Tower 3, 9th Floor Tower A, Phayathai Road, Ratchathewi, Bangkok 10400 Tel: +66 (0)2 354 5220 Fax: +66 (0)2 354 5221 Website: www.dancham.or.th Email: contact@dancham.or.th

Franco-Thai CC (FTCC)

rest

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

Malaysian-Thai CC (MTCC)

3601 36th Floor, Q Houses Lumpini Bldg., South Sathorn Rd., Tungmahamek, Sathorn Bangkok 10120 Tel: +66 (0)2 677 7393 Fax: +66 (0)2 677 7394 Website: www.mtcc.or.th http://goo.gl/Xqn32 Email: admin@mtcc.or.th

Netherlands-Thai CC (NTCC)

Tel: +66 (0)2 309 5250 Website: www.ntccthailand.org Email: info@ntccthailand.org

German-Thai CC (GTCC)

http://goo.gl/WaAzA

9th Floor, ITF Tower, 140/26 Silom Road, Bangrak, Bangkok 10500 Tel: +66 (0)2 634 3283 Fax: +66 (0)2 634 3004 Website: www.nztcc.org http://goo.gl/7IxHW Email: director@nztcc.org

Singapore-Thai CC (STCC)

25th Fl., Empire Tower 3, 195 South Sathorn Road Yannawa, Sathorn Bangkok 10120 Tel: +66 (0)2 670 0600 Fax: +66 (0)2 670 0601 Website: www.gtcc.org Email: services@gtcc.org http://goo.gl/KizCx

India-Thai CC (ITCC)

193/8 Lake Rajada Office Complex, 1st Floor Rachadapisek Road, Klongtoey, Klongtoey, Bangkok 10110 Tel: +66 (0)2 264 0680-4 Fax: +66 (0)2 264 0688 Website: www.singaporethaicc.or.th Email: marketing@singaporethaicc.or.th http://goo.gl/hwtqK

South African-Thai CC (SATCC)

http://goo.gl/j3q0Y

Irish Thai CC (ITCC) Maneeya Center Bldg, 7th Fl, 518/5 Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330 Tel: +66 (0)2 652 0848 Fax: +66 (0)2 652 0671 Website: www.irishthaicc.com Email: info@irishthaicc.com http://goo.gl/vTn6j

Japanese CC (JCC) 15th floor Amarin Tower, 500 Ploenchit Road, Kwang Lumpini, Khet Patumwan Bangkok 10330 Tel: +66 (0)2 256 9170-3 Fax: +66 (0)2 652 0931 Website: www.jcc.or.th Email: info@jcc.or.th http://goo.gl/Ak9yr

10/143 (1503A), 15th Fl The Trendy Bldg Soi Sukhumvit 13, Klongtoey-Nua, Wattana Bangkok 10110 Tel: +66 (0)2 168 7416-7 Fax: +66 (0)2 168 7418 Website: www.satcc.net Email: satcc@satcc.net http://goo.gl/szwoZ

Swiss Thai CC (STCC) 36/9-10 Chaengwattana Road Kwaeng Thungsonghong, Khet Laksi Bangkok 10210 Tel: +66 (0)2 982 4896 Fax: +66 (0)2 982 4897 Website: www.swissthai.com Email: info@swissthai.com

To re enter the sto

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 ...

New Zealand Thai CC (NZTCC)

5th Floor, Indosuez House, 152 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Tel: +66 (0)2 650 9613-4 Fax: +66 (0)2 650 9739 Website: www.francothaicc.com Email: contact@francothaicc.com http://goo.gl/QmEcX

No. 13, Sathorn Soi 1, Thungmahamek, Sathorn, Bangkok 10120 Tel: +66 (0)2 287 3001 Fax: +66 (0)2 679 7720 Website: www.itcc.or.th Email: info@itcc.or.th

General Inte

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Belgian-Luxembourg/Thai CC (BeLuThai)

BANGKOK BU SINESS BRIEF

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Thai-Canadian CC (TCCC) 139 Pan Road, Sethiwan Tower, 9th Floor, Silom, Bangrak, Bangkok 10500 Tel: +66 (0)2 266 6085/6 Fax: +66 (0)2 266 6087 Website: www.tccc.or.th Email: tccc@loxinfo.co.th http://goo.gl/xOX5c

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The Chambers

Thai C. C. Tower 9th Fl., 889 South Sathorn Rd., Sathorn Bangkok 10120 Tel: +66 (0)2 675 8577-84 Fax: +66 (0)2 212 3916-7 Website: www.thaicc.org Email: info@thaicc.org http://goo.gl/nvgVp

Thai-Finnish CC (TFCC) C/O FINPRO Office, Netpoint SEA Ltd. 2nd Floor Wandee Siam Bldg, 58/84 Muangthong Thani, Chaengwattana, Klongklua, Nonthaburi 11120 Tel: +66 (0)2 574 2879-80 Fax: +66 (0)2 574 2877 Website: www.thaifin.or.th Email: tfcc@thaifin.or.th http://goo.gl/bZC1O

Thai-Hong Kong Trade Association (THTA) Empire Tower, 25th Floor, 195 South Sathorn Road, Yannawa, Bangkok 10120 Tel: +66 (0)2 343 9000 Fax: +66 (0)2 343 9029 Website: www.thta.or.th http://goo.gl/qY8zE Email: thai-hongkong@thta.or.th

Thai-Israel CC (TICC) 14th Fl., Manorom Building, 3354/45 Rama 4 Rd., Klongton, Klongtoey, Bangkok 10110 Tel: +66 (0)2 672 7020 Fax: +66 (0)2 672 7021 Website: www.thaisraelcc.com http://goo.gl/ua3Aw Email: ticc@thaisraelcc.com

Thai-Italian CC (TICC) 1126/2 Vanit II Building, 16th Floor, 1601B New Petchburi Rd., Makkasan, Rajdhevee, Bangkok 10400 Tel: +66 (0)2 255 8695 Fax: +66 (0)2 253 9896 Website: www.thaitch.org Email: info@thaitch.org http://goo.gl/AAoTx

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Thai-Norwegian CC (TNCC) 888/142 Ploenchit Rd, 14th Fl., Mahatun Plaza, Lumpini, Pathumwan, Bangkok 10330 Tel: +66 (0)2 650 8444 Fax: +66 (0)2 627 3042 Website: www.norcham.com Email: contact@norcham.com http://goo.gl/wom78

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Thai-Chinese CC (Thai-CC)

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rest

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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Thai-Swedish CC (TSCC) 34 C.P Tower 3, 9th Floor Tower A, Phyathai Rd, Ratchathewi Bangkok 10400 Tel: +66 (0)2 354 5229-31 Fax: +66 (0)2 354 5232 Website: www.swecham.com http://goo.gl/rPFRL Email: contact@swecham.com

Thai-Taiwan Business Association (TTBA) No. 30/207 Sukhumvit Soi 39, Sukhumvit Rd., Kiongtannua, Bangkok 10110 Tel: +66 (0)2 662 7335-6, 662 7385 Fax: +66 (0)2 662 7382 Website: www.ttba.or.th Email: ttba@ttba.or.th http://goo.gl/DdLeZ

Joint Foreign CC of Thailand (JFCCT) 38th Floor, State Tower 1055/914 Silom Rd, Silom, Bangrak, Bangkok 10500 Tel: +66 (0)2 630 6307 Fax: +66 (0)2 630 6303 Website: www.jfcct.org Email: secretary@jfcct.org http://goo.gl/PVRjt

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3 Years & Counting: Will Thailand Be Ready?

Asean Business and Investment Summit in Bali in November, Story continued from Page 1.

Khun Kan Trakulhoon, President land’s slow response in preparing and CEO of Siam Cement Group for the AEC, combined with the (SCG), said the time for Asean is recent flooding, may undermine now. its position as a major production base for the world’s supply chains, “The faster we open our countries a development that would seri- for FDI, the faster we will benously damage Thailand’s economy. efit from the integration,” he said.

“Truly speaking, I wouldn’t be In addition to comments from concerned whether foreign invesregional and even national minis- tors choose to invest in Thailand ters, calls from the private sector or not. I’d still be happy if they for faster market integration and choose any location in Asean. This increased foreign investment have should be the spirit of Asean counalso been heard. Speaking at the tries.”

1,800,000

Free Flow of Goods

1,600,000

US$ Millions

1,400,000 1,200,000 1,000,000

Total Trade

800,000

vs.

600,000 400,000

Intra-ASEAN Trade

200,000 -

1993

1995

1997

1999

2001

2003

2005

2007

2009

OFFICE FURNITURE Bought & Sold

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While this may be a welcome sentiment and represent sound business strategy, intra-region trade and investment still lags far behind Asean trade with the rest of the world. Since 1993, intra-regional trade in Asean countries has actually declined as a percentage of overall trade (see chart). Reversing that trend will be a significant challenge for both the public and private sectors, but companies like SCG are starting to make a move toward regional investment. SCG announced recently that they have committed $5 billion over the next four years to investment in Thailand and the region, with 75% of this going to regional mergers and acquisitions.

Despite the banking sector having an additional five years from 2015 to be fully liberalized, larger Thai banks are actually starting to lead the way in terms of regional expansion. Bangkok Bank recently authorized its wholly-owned subsidiary, Bangkok Bank Bhd, to open four new branches in Malaysia, while K-Bank is also expanding in the region with two partners in Vietnam and is currently negotiating with banks in Laos, Indonesia

and Singapore. Central banks in the region are also working on the rules for Qualified Asean Banks (QABs) and will announce these rules in late 2012.

In other sectors, however, companies are taking a more cautious approach. In the hospitality and tourism sector, and as reported in The Nation in December, the Erawan Group, for example, will develop 14 new hotels in Thailand, but will only commission a feasibility study into investing in hotels in the region.

Overall, weaker global demand for consumer products and the supply chain problems caused by disasters in Japan and Thailand this year, have affected growth in Asean countries, in general, and in Thailand, in particular. But the prospect of full regional economic integration in 2015, despite the challenges that Thailand and Thai companies face in achieving this goal, represents a significant opportunity for growth for the Thai economy. Whether the Thai government and Thai companies will realize this in time for 2015, is another question.

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January 2012

The Calendar

January

Sunday

For event details, enter the short code below the event into your browser:

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

goo.gl/6ngBg

Tuesday

Monday

25

26

27

1

2

3

8

9

BOI Fair http://goo.gl/a9T3c AustCham: Board of Directors Meeting http://goo.gl/rRFOZ BCCT Panel Discussion Solar Energy http://goo.gl/aEhKl

BOI Fair http://goo.gl/a9T3c

15

BOI Fair http://goo.gl/a9T3c

22

BOI Fair http://goo.gl/a9T3c AMCHAM: Tax Cmte http://goo.gl/Ffbl7

10

16

AMCHAM: Food & Agri-Business Cmte http://goo.gl/wK8np AMCHAM: Professional Women Cmte http://goo.gl/uMjnP Tri Nations BBQ http://goo.gl/ptpQw

23

24

BOI Fair http://goo.gl/a9T3c AMCHAM: Joint Cmte – New Medical Offering Tourism Angle to Benefit Thailand http://goo.gl/qVr21

17

AMCHAM: Business Economics Cmte http://goo.gl/jw3Ym

29

30

31

Bangkok Trader: Networking Meets Ladies Night http://goo.gl/EnNbR AMCHAM: Social Networking http://goo.gl/z0vuF

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BANGKOK BUSINESS BRIEF January 2012

23

Send us your business event details for the February issue

by January 19th to calendar@bangkokbusinessbrief.com Wednesday

Thursday

28

4

11 BOI Fair http://goo.gl/a9T3c

18

25

Saturday

29

30

31

5

6

7

BOI Fair http://goo.gl/a9T3c AMCHAM: Travel & Tourism Cmte http://goo.gl/QFjsk AMCHAM: Eckard College Briefing http://goo.gl/Ya4du

BOI Fair http://goo.gl/a9T3c

12

BOI Fair http://goo.gl/a9T3c

13 BOI Fair http://goo.gl/a9T3c

BOI Fair http://goo.gl/a9T3c

BOI Fair http://goo.gl/a9T3c AMCHAM: CSR Cmte http://goo.gl/SXzBl AustCham: UN at the Sharp End: Office on Drugs and Crime http://goo.gl/dIYia

19

BOI Fair http://goo.gl/a9T3c

20 BOI Fair http://goo.gl/a9T3c

BOI Fair http://goo.gl/a9T3c

26

14

21 BOI Fair http://goo.gl/a9T3c

27

28

3

4

AMCHAM: Charitable Foundation Cmte http://goo.gl/UohRl BCCT: Annual General Meeting http://goo.gl/vwyrn

AMCHAM: Monthly Luncheon http://goo.gl/AnKDo

1 AustCham: Sundowners http://goo.gl/mb7u0

Friday

2 AMCHAM: Travel & Tourism Cmte http://goo.gl/y9nzn

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