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BANGKOK BUSINESS BRIEF March 2012
BUSINESS BRIEF
Vol. No. 1, Issue No. 4
1
March 2012
Daily business news briefs at www.bangkokbusinessbrief.com
A Renaissance for Thailand’s Skilled Labor Force? 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
By Dean Outerson
2 3 4 5 6 7 8 9 10 11 12 13 14 22
When the devastating floods hit Thailand’s numerous industrial estates last year, hundreds of companies were forced to suspend production and close their factories. That meant that tens of thousands of skilled workers were left without work at a time when the Thai economy was just beginning to pick up again after the global financial crisis of the previous two to three years. At the same time, in an ironic twist of ‘reverse globalization,’ a number of Japanese firms, in an attempt
to maintain some levels of production, decided to send their skilled Thai workers to facilities in Japan to supervise unskilled Japanese workers. Working on six month work visas and with more than 2,000 Thai workers participating in this program, these skilled IT and electronics supervisors are now helping their Japanese counterparts improve their efficiency and ramp up the pace of production.
tion out of Japan – and into Thailand – had begun. “On December 5, approximately 30 Thai employees went in for their first day at the factory of video equipment manufacturer JVC Kenwood Corp. in Yokosuka, Kanagawa Prefecture. After exchanging greetings with their Japanese counterparts, they went to work on the production line for security cameras marketed to corporations.
According to the Mainichi newspaper, this reversal of roles has The Thai JVC Kenwood emcome about fifteen years after ployees who are now in Japan the process of moving producStory continues on Page 20.
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Briefs General Interest
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Support and engagement are the keys to retaining your employees We see a trend in organisations where once employees get the annual salary increment-cum-bonus they soon begin to submit their resignations. The Hay Group’s annual survey for 2011 reveals that the top five job functions with the most employee turnover are sales, engineering, marketing, production and finance. With the flood crisis in November and inflation pushed up to 3.53 per cent in December, our real wages, or pay adjusted for inflation and ultimately indicating disposable income, would be less. To be... Full story at http://goo.gl/gPcdx
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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
this fact, Nasdaq-listed IT company NetApp has identified the workplace culture as one of its three key success elements since it Thailand ranks fifth in the world was set up in 1992. for stress levels felt by business leaders over the past 12 months, The other two success elements according to a Grant Thornton include internal strategies and exThailand survey. ternal market presence. NetApp has been built very differently A net 55% reported an increase in from many other IT companies. stress, behind only Greece (67%), Its first chief executive Dan WarChina (60%), Taiwan (57%) and menhoven just retired three years Vietnam (56%). Ian Pascoe, a man- ago after being the longest-serving aging partner of Grant Thornton CEO in Silicon Valley. The firm’s Thailand, said many interviews first sales executive is still workwere done last November during ing with the company – as a vice the massive floods, so the increase president – while the second sales from a net 10% observed in 2010 executive is currently vice presiis perhaps understandable. dent in charge of sales operations worldwide. Globally, levels of stress felt... Full story at http://goo.gl/orITL “We don’t want to create a high... Full story at http://goo.gl/4ldTx
Survey: Execs in Thailand among most stressed out
Creating a corporate culture
What really matters to create great brands
Having competent workers is a good start but it is the corporate culture that will help sustain an organisation’s success. Realising John Pepper, one of our renowned former CEOs used to say that a leadership brand needs a business model, including cost structure that delivers superior consumer value. Identifying and delivering the right mix of product design, marketing support, cost and pricing is highly situational. It is a moving target changing along with consumers, competition and market conditions. And we need to be alert and responsive to changing situations, anchored to only one commitment: doing Publisher and Managing Director the right thing to provide superior Pavinee Chaymanee • 084-147-5550 consumer value.
Bangkok Business Brief www.bangkokbusinessbrief.com
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Managing Director & Creative Director Reid Nixon • 080-246-9000 reid@bangkokbusinessbrief.com
Business Development Manager Andy Hyde • 080-814-9080 andy@bangkokbusinessbrief.com
In cooperation with Siam Gazette Co., Ltd. Alan S. Verstein • 081-761-9302 alan@bangkokbusinessbrief.com
Cover photo by Greg Walters, found on Flickr and used under the Creative Commons License. Volume 1, Issue 4 • March 2012 Copyright 2012. All rights reserved.
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How do you assess the impact of the new Bt300 daily minimum wage and the minimum Bt15,000 a month salary for new graduates? Binnion: I believe companies have concerns about this minimum wage and the minimum salary for new graduates in the case of whom it’s quite a sharp increase from the Bt10,000 salary that companies paid for students hired from less well-known colleges. It’s going to cause some problems. Companies will think more carefully before hiring. Many companies have come to realise that they have to take their head counts more seriously and are undertaking some restructuring. Thai companies tend to carry big head counts compared to western firms and they will... Full story at http://goo.gl/gPv9n
Plethora of opportunities for businesses
As the new regime embarks on reforms after years of authoritarian rule, billions of baht are ready to pour into the neighbouring country. Burma is now becoming one of the world’s most sought-after countries after its democracy started blossoming, signalling that it is ready to open up and woo foreign investors.
Burma’s democracy icon Aung San Suu Kyi recently said “political reforms are as important as economic reforms that are slowly taking place”. She also advised foreign What are the remaining success businesses to adopt a “wait-andfactors that keep P&G brands in see” attitude “for their own good as well as that of the country” beleadership positions? fore investing. Winning brand strategies and business models are invariably The upcoming by-election for built on three basic elements: Aung San Suu Kyi also signals that product design, relevant market- Burma is opening up and seeking support, and cost and pricing ing foreign investment, Somchet attributes. So the third key factor Thinaphong, managing director of Dawei Development Co, said is that winning brands need to... Full story at http://goo.gl/FgMvF recently.
Trends to watch out for in 2012
Indigo Consulting Group’s directors David T Binnion and Jiraporn Pruksarnukul examine some of the hottest issues concerning human resources trends in 2012.
U Soe Thein, Burma’s industry minister, told international journalists at an economic forum in Davos, Switzerland last month that the tax incentive law could be passed by the end of the parliamentary session convening next... Full story at http://goo.gl/NZkMk
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Border economy projected to hit B1.8 trillion in four years
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Asean integration, low foreign demand key – The Bank of Thailand is urging all parties to address the trend of Asia’s rising role on the world stage amid protracted economic problems in the US and Europe. Governor Prasarn Trairatvorakul in a speech outlining this year’s policy said the world is experiencing megatrends that include the crisis of the Western economies and the advance of regional economic integration such as Asean. “Thailand appears to be at a transitional gateway of these major trends, where the future looks blurry,” he said. “Domestic issues still remain an important hurdle, while emerging external issues have created new challenges.”
...
ly to meet the government’s 4% target this year since the global economic doldrums look set to undo the positive effects of the government’s massive spending, say local economists.
Both US and China are also facing major political developments in the coming year, with elections in the US and leadership change in China. These changes will dictate how markets perceive risk and policy uncertainty. Investors should remain conservative yet nimble in their asset allocation, said Haren Shah, senior investment strategist, Wealth Management, Citi Asia Pacific. “Looking back, 2011 was a very unpredictable year. Even though we knew there were a number of concerns out there, political... Full story at http://goo.gl/Qf0WL
Can anyone tame the debt dragon?
The year 2012 began with a negative outlook. Standard & Poor’s downgraded the credit ratings of France, Italy and seven other European nations. The International Monetary Fund warned that if the In such circumstances, the public European debt crisis intensifies, sector must promote investment... then the world economy could fall Full story at http://goo.gl/nUxIX into recession.
4% growth now seen as tall order
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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 Our services: 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 weakest na w s the ian cri – Total Facilities – Cleaning - pensionManagement Asian economi opportunity for sis in the late 1990s was a systems in the tional lems that must be sol list of probwa es to increase the kecal up ved wo l for in rld cri Ba , & Systems – Gardening the region that – Security Personnel 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 de climate– ch services at a tim a blessing in d bt, young retire – Inventory & Audit Catering ange on dis e 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 e ational agencies – Mechanical &d Electrical ers to work– Pest Management financial sec Full story at htt are... . p://goo.gl/S65D6 able to sus tor is now strong and study poor pension take-up, a The conclusio showed. tain a certai–nWashroom Hygiene 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
With external factors exacerbating, public investment this year might not be able to spur recovThailand expects 15% annual ery, according to Sethaput Suthigrowth in border trade until the end wartnarueput, a veteran econoof its 11th National Social and Eco- mist. nomic Development Plan in 2016. While Thailand remains strong, The country hopes border trade with a stable fiscal status and will be worth 1 trillion baht this balance payment and robust year after reaching 899.78 billion banking and corporate sectors, last year and 778 billion in 2010. the government’s target of... Full story at http://goo.gl/2jwfO Chanvit Amatamatucharti, deputy secretary-general of the National Asean, including Economic and Social Develop- Thailand, seems ment Board (NESDB), said the resilient to global 11th plan projected border trade uncertainties worth 1.8 trillion baht by 2016. The global economic outlook reContributing factors will be the mains uncertain and dependant full expansion of the Asean free- upon how issues in Europe are retrade area and development of in- solved and with continued positive frastructure to create a better... momentum from the US and ChiFull story at http://goo.gl/YEZvJ na, said Citi Asia Pacific strategist.
Prasarn: Global trends intersect in Thailand
...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
Thailand’s economic prospects are no better. Attempts to lift the External factors get worse, say economy back on track have led... economists – Growth is unlike- Full story at http://goo.gl/bYlfM
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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
Prime Minister Yingluck Shinawatra leads government and business representatives for a state visit to India from today to Thursday.
“The Thai government will urgently decide whether to join the pact soon. Otherwise, Thailand may be As feared, last year’s flood crisis left behind its competitors,” Comhas led to the hasty passing of laws merce Minister Boonsong Teriyato help support post-flood recon- pirom said yesterday. struction. Though this speediness might satisfy some people, it could The Trade Negotiations Departderail necessary preparation for ment is rushing to conduct a feasithe upcoming rainy season and bility study on the anticipated gains also ruin Thailand’s long-term and losses from joining the TPP. attraction for foreign investors, many of whom have been hit by The United States and eight other more than US$100 million (Bt3 countries are in negotiations on billion) in indirect losses. establishing the multilateral freetrade agreement, including four Some progress has been seen as from Asean – Brunei, Malaysia, the Cabinet gradually approves Singapore and Vietnam. Meanthis project or that. On Thursday, a while, Thailand is also planning to government committee approved tighten trade and investment... six short-term projects that will... Full story at http://goo.gl/qH7M0 Full story at http://goo.gl/boh1D
Thailand and India agreed to 82 early-harvested items to be included in a bilateral free trade agreement from September 2004, with tariffs cut to zero three years later. The two nations expect to... Full story at http://goo.gl/BaCr9
Thailand is seriously interested in the huge market covering many countries from the north to the Thirachai Phuvanatnaranubala south to be formed by the US-ini- was finance minister for only five tiated Trans-Pacific Partnership. months, but he left behind a good
Govt cannot afford Government to falter
Government
Sponsoredhttp://goo.gl/EIbH6 by TISCO Financial
Thai-India trade expected to double to $16bn by 2014
Bilateral trade between Thailand and India is expected to double within the next two years from US$8 billion last year as trading volume will be boosted by the implementation of a comprehensive free trade programme by mid-2012.
Govt studies pros and cons of joining
New finance minister has great power but also great challenges
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record, while his newly appointed replacement Kittiratt Na-Ranong will face many challenges. Kittiratt is the first finance minister since the 1997 financial crisis who is also leader of the government’s economic team, as he is also deputy prime minister supervising economic policies. This will give him great power to push forward the government agenda, since he no longer has to face... Full story at http://goo.gl/dEidW
PM Yingluck to head new flood agency
Prime Minister Yingluck Shinawatra will chair a new agency set up soon to oversee an integrated plan for national water management. The new body will command all related agencies to work together to prevent floods and resolve problems related to them. Increasing complaints about the huge budget allocated for this task and a lack of detail about overall... Full story at http://goo.gl/MolL2
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Europeans see Thailand as gateway for push into Myanmar European companies are keen to use Thailand as a gateway to Myanmar as the latter opens up to the international community and grows more attractive to foreign investors.
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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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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
...
Gold stable but could hit new high in first half
Individual investors have already purchased gold in recent weeks over rising concerns on global recession and instability. However, one trader expects the gold price to hit a new high in the first half of this year.
Jitti Tangsitpakdee, president of the Gold Traders Association, said the price had fluctuated quite a lot but movement was slow at the moment. Investors purchased gold over the past couple of weeks on rising concerns about the conflict between the United States and Iran and possible closure of the Strait of Hormuz, a major oil-transport route. This trading activity caused the gold price to increase significantly, but it has stabilised for now.
A group of European investors visited Myanmar last month and observed positive developments taking place that favoured foreign investors, said Rolf-Dieter Daniel, president of the recently opened European-Asean Business Centre (EABC). Still, in the first six months, the international gold price should “It is very likely that the process of trend even higher than last year’s opening up Myanmar will be very peak of US$1,922 per ounce as the successful and continuing. Myan- precious metal is still... mar people are very keen to have Full story at http://goo.gl/VvQFP European investors there, not only big businesses but small ones,” Thai Kasikornbank said Mr Daniel, also president of forms alliance the German-Thai Chamber of with Australia’s Commerce.
Macquarie
“The more Myanmar opens up, Kasikornbank, Thailand’s fourththe more Thailand will... largest lender, signed a strategic Full story at http://goo.gl/CNH3X alliance with Australia’s top bank Macquarie Group to cooperate on Thailand lags in investment banking and securities Asean investment businesses, the two firms said on Thailand urgently needs to up- Friday. grade its investment attractiveness, as the decline in foreign The announcement came a few direct investment here contrasts days after Macquarie warned insharply with a rise in neighbour- vestors its full-year profit would ing countries. According to a study fall 25 percent as grim financial by the Economist Intelligence Unit, markets hurt its trading and inThailand’s share of FDI in the re- vestment banking businesses. gion fell to 6% during the 2010-11 period, compared with 17% during The agreement included coop2004-09. eration in equity markets transactions and inbound and outbound Prasert Bunsumpun said the sta- mergers, institutional equity sales tistics underscore the problem for and brokerage services and coThailand as FDI shifts to Indone- branded research to... sia, Malaysia and Vietnam. The Full story at http://goo.gl/bkYmY former PTT president said the downward trend in FDI may be Foreigners eye local rooted in years of political con- securities firms flict and the impact of the recent Malaysian and Singaporean invesfloods. “The survey also showed tors are looking to increase their that some electronics industries market penetration by moving are likely to move to other... to acquire Thai securities houses Full story at http://goo.gl/8Vq3G ahead of Asean Linkage and the
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www.leboutilliergroup.com implementation of the Asean Eco- Prasarn and Kittiratt held a closednomic Community. door meeting on Jan 30 over the best solutions to handle the prinSmall- and medium-sized broker- cipal and interest repayment on ages reportedly want to postpone the FIDF debt. Then, Kittiratt was the start of trading through Ase- informed of the Monetary Policy an Linkage as they are not thor- Committee’s concern over the disoughly prepared yet. The Stock crepancy of... Exchange of Thailand (SET) and Full story at http://goo.gl/LDLGt the Federation of Thai Capital Market Organisations (FeTCO) Approvals for new insist on launching Asean Linkage foreign firms surge Approvals for foreign companies as scheduled. setting up business in Thailand An anonymous source from the jumped this month over Decembrokerage industry said last week ber’s figures, indicating high inthat securities companies seeking... vestor confidence in the aftermath of the flood crisis, the Commerce Full story at http://goo.gl/Ftsy8 Ministry’s Business Development FIDF debt to be Department reported yesterday.
cleared in 25 years
The department said 29 foreign firms had been approved by its Foreign Business Act board to set up businesses in Thailand in January. This was an increase of 61 per cent over December and will He noted that under options sub- bring at least Bt192 million initial mitted to Deputy Prime Minister investment capital to the country and Finance Minister Kittiratt Na- and create 279 jobs for Thais. Ranong’s consideration, all intend Ittipol Changlum, deputy directo clear the debt within 25 years. tor-general of the department, He also insisted that such clearing said more foreign firms would like would not involve the foreign re- to do business in Thailand after... Full story at http://goo.gl/anhzJ serves. Bank of Thailand Governor Prasarn Trairatvorakul today reiterated the plan to clear the Financial Insitutions Development Fund (FIDF) debt within 25 years.
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Thailand Trust Mark (TTM) launched
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recently with Liverpool FCis expected to drive 3K Battery’s domestic and export sales by 10% to Thailand’s major petroleum and between 6.2 and 6.3 billion baht construction firms are focusing this year, tallying over 1 million their strategic investments on car batteries. Burma to cash in on the country’s increasing opportunities, especial- 3K Battery’s domestic and export ly infrastructure projects. sales are equally split. The total domestic market is projected to PTT Exploration and Production grow 5% year-on-year to 8 billion (PTTEP), a national petroleum baht or 8 million units sold this exploration and production com- year, with 3K Battery holding a... pany, said it saw Burma as a focus Full story at http://goo.gl/5YzNG for its investments over the next Japanese investors five years.
Burma’s opening a golden opportunity
The Department of International Trade Promotion (DITP), previously known as the Department of Export Promotion, officially launches ‘Thailand Trust Mark’ (TTM) – a new quality assurance for Thai products and services, to replace the successful ‘Thailand’s Brand’ icon introduced in 1990. President and chief executive officer Anon Sirisaengtaksin said The move is part of the govern- the company would allocate about ment’s proactive policy on trade Bt60 billion of its capital investdevelopment, in preparation for the ment to its petroleum exploration integration into the ASEAN Eco- and production projects in Burnomic Community (AEC) in 2015. ma. The money accounts for 10 per cent of PTTEP’s total... “Driven by several trade-related Full story at http://goo.gl/dwTFT factors and the need for change in the current global market where in- 3K banks on tense competition prevails, TTM... Liverpool logo A three-year partnership signed Full story at http://goo.gl/b3ty6
worried about future flood
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– visited the minister to discuss the progress of flood-prevention systems. The investors were accompanied by a team from the Japan External Trade Organisation (Jetro) led by president Setsuo Iuchi. Pongsvas said that after speaking to his visitors, he realised that Japanese investors at Saha Rattana Nakorn were not confident in... Full story at http://goo.gl/izGHQ
Top cement cos. spreading their wings
Japanese manufacturers operating out of the Saha Rattana Nakorn Industrial Estate are concerned about a flood crisis this year, especially since there is no sign of a flood-prevention system being set up to protect the complex, Industry Minister Pongsvas Svasti said.
Giant construction-material manufacturers Siam Cement Group (SCG) and Siam City Cement (SCCC) yesterday announced major expansion plans to become key players in the region under the Asean Economic Community in 2015. SCG will invest Bt4.3 billion or US$135 million to take over conThe bosses of two Japanese firms struction materials company operating out of the estate – TS Boral Indonesia (BI) from Boral... Tech (Thailand) and KVS Plating Full story at http://goo.gl/yFdSx
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Expatriate Medical Insurance ...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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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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Infrastructure/Logistics attracting foreign investment in a
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Marine Dept seeks Bt9.6 billion The Marine Department has requested a five-year construction budget of Bt9.585 billion for the Pak Bara Deep Sea Port project, work on which is due to begin next year once protests by local residents have been resolved.
train-assembly plant in Thailand was not something new but was raised during the premiership of Thaksin Shinawatra. Such companies as Germany’s... Full story at http://goo.gl/F8rOa
Don Mueang’s old role urged
Airports of Thailand Plc (AoT) is lobbying the Transport Ministry for the change in a standing policy guideline governing the use of Don Mueang airport so that more airlines can operate through it.
Located on the Andaman Sea coast of Satun province, the port is intended to serve as a hub connecting China, India and Europe.
The state-controlled airport operator is eager to see the ministry alter the state directive that limits the use of Bangkok’s old airport to serve only carriers with point-toTawanrat Onsira, director-general point domestic services, AoT inof the department, said the budget siders said. proposal would be submitted to the Transport Ministry. The first The directive was enforced by phase will cost Bt9.58 billion in the coup-installed Gen Surayud total. The cost will be Bt1.9 billion Chulanont government in 2007 as in the first fiscal year of the proj- part of its decision to reopen Don ect, 2013, and Bt1.597 billion for Mueang which was closed when each subsequent year from 2014 to Suvarnabhumi, then the new in2017. For the final year, 2018 the ternational airport, started operacost will be Bt1.297 billion. tion in September 2006. In addition, the department will require Bt79 million over the next two years to conduct a feasibility study and environmental impact assessment. Tawanrat said Pak Bara Deep Sea Port would have facilities for... Full story at http://goo.gl/fzJdH
Idea floated again to invite foreign investment in train assembly plant
The vice minister of transport will suggest that the Transport and Industry ministries jointly invite foreign investors to bid on setting up an electric-train assembly plant in Thailand to serve the development of 10 mass-transit-route projects. Prapat Chongsanguan said the 10 projects would create demand for more than 1,000 trains, enough to attract investment for their assembly in Thailand. Assembly here would reduce the cost of train purchases and create jobs while and transferring technology.
Lifting the restriction is the first step before AoT could woo more airlines with connecting and international flights to... Full story at http://goo.gl/z5SpW
DKSH rethinking its logistics
DKSH (Thailand), a leading trading company, is revising its business strategy after its distribution centre and two factories in Ayutthaya were inundated during last year’s heavy floods. President Somboon Prasitjutrakul said the company is drafting a business plan to improve its logistics system in Thailand. Once finished, it will be submitted for approval by the parent firm in Switzerland.
“Our logistics system must be revised. In addition to our normally safe warehouse and factory location, we’ll need an emergency backup warehouse. Plus we’ll have to answer clients’ question about transportation efficiency,” said Mr Somboon. The massive flooding He said he would discuss the idea late last year provided valuable exwith Transport Minister Charu- perience to many trading firms... pong Ruangsuwan. He added that Full story at http://goo.gl/Ox2ox
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Briefs Retail/Services
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Thai AirAsia expands service with China, India routes Thai AirAsia (TAA) unveiled two new international routes to China and India on Thursday to increase its connectivity to growth markets. Scheduled to launch on March 23, Bangkok-Chennai and BangkokChongqing brings to five the number of new routes for the no-frills carrier this year. As part of its continued network expansion, TAA previously announced new routes linking Bangkok with the southern province of Trang, the northeastern city of Nakhon Phanom and the Sri Lankan capital of Colombo. At the end of last year, TAA’s network covered 24 destinations, both domestic and international.
To read the full article of a story brief, enter the short code at the end of the story into your browser: Peter Morley, Bumrungrad’s international medical director, said late last month at the Arab Health Congress here. “We make it a point to find staff who deal well with diversity. A lot of our patients have Thai backgrounds, but so many come from the Gulf as well.”
Last year, 125,000 Arab patients came to Bumrungrad International Hospital in Thailand to seek medical treatment. Yet just a few years ago the sight of a woman wearing a burqa was such a rarity that it would scare the nurses at night.
...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
and budget carriers, chief executive Omar Jahameh said in a release that its offering now markedly differs from other carriers in the region. He was understood to be referring... Full story at http://goo.gl/gfRZQ
Citibank plans to expand the mass-market proportion of its credit-card business to 75 per cent within three years from 65 per cent currently after already securing premium cardholders nationwide.
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Raiva, S&P’s president.
Eighty percent of S&P’s annual revenue of about 5 billion baht now comes from its restaurants. The rest is contributed by trading, exports and food and beverage S&P: from Partmanufacturing. It has around 400 Time passion to restaurants of various formats in Thailand with 20 abroad in... Full-Time success Founded in 1973 by four local Full story at http://goo.gl/9BKq5 entrepreneurs, S&P Syndicate Plc has grown from a part-time inter- Dreamliner to help est to become an icon for Thai res- fuel Thai Airways’ taurants around the globe. growth
According to data provided by the hospital, Bumrungrad treated fewer than 10,000 Arab patients a year before Sept. 11, 2001, when the United States tightened security and immigration laws, cracking down on travel from the Middle East in the wake of the terrorist at- In the food business, it doesn’t tacks. By 2003 the number had... take long for a company to disFull story at http://goo.gl/HvJaz cover whether it is pleasing its cusor not. Managers need to Citibank to focus on tomers be focused on changing tastes and mass card market prepared to act to tap them.
Voralak Tulaphorn, managing director for the cards business, said yesterday that the bank wanted to strengthen its presence in the Chief executive Tassapon Bijleveld mainstream cardholder segment, described India and China as very which is the largest in the country. important markets for the airline, as their population and rising eco- The perception of customers is that nomic prowess promises increas- Citibank is a premium card issuer, ing travel demand between these so the bank has to focus more on city pairs. TAA will be the first and those earning Bt15,000-Bt40,000 only airline to offer a daily direct... a month, she said. The monthly Full story at http://goo.gl/nGhvz spending of middle-market... Full story at http://goo.gl/ Bb6cz
Thailand Profits From Health Care to Arab Patients
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March 2012
“I run our group of businesses based on a common-sense approach that I consider practical, not complicated, simple and easy to understand since we normally deal with customers who are our end users,” says Pravesvudhi
Thai Airways International will go ahead with its belt-tightening plan to keep its operation flying high, although the airline faced a recent strike by some aircraft-maintenance staff. THAI president Piyasvasti Amranand said every department had agreed on the plan and was seeking ways to reduce costs. Yesterday, THAI welcomed the Boeing 787 Dreamliner at Suvarnabhumi... Full story at http://goo.gl/QRRMj
UAE’s RAK Air flies to Bangkok
RAK Airways is set to launch flights from its home base in the UAE to Bangkok in June, joining the fray already dominated by two larger carriers from the oil-rich emirates. The state-controlled airline _ its name is an abbreviation of Ras alKhaimah, one of the seven emirates of the UAE _ will offer four non-stop flights from the emirate to the Thai capital, marking its first entry into Southeast Asia.
The hospital, in central Bangkok, now makes a point of catering to the specific needs of patients from the Middle East. Its facilities include a kitchen preparing halal meals and the presence of 80 Ara- Bangkok will become RAK’s 12th bic translators and three resident route, part of an expansion that Arabic-speaking doctors on call. began in 2010 after the carrier was hit hard by the 2007 financial “Today, our hospital eating area crisis. With the airline positionlooks like you’re in Dubai,” Dr. ing itself between full-service
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BANGKOK BUSINESS BRIEF March 2012
BANGKOK BU SINESS BRIEF
Briefs 9
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IT / Comms
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Click till you drop Japan’s Rakuten plots e-commerce world domination – The increasing popularity of e-commerce and other online activities are prompting many professionals and business owners to try and harness the potential of the internet.
December 20 11
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Buri and Hat Yai of Songkhla.
IBM will continue to promote its Smart City strategy for boosting the use of IT in cities. “We aim to promote Thailand as... Full story at http://goo.gl/MxT2H
Social media trends in 2012
McCann Worldgroup Thailand (MW) – through its research tool McCann Pulse, has scanned the globe for the key social media trends influencing consumers’ live. The digital 2012 will be shaped up by the significant moves in social media platforms driven by the concept of individualisation of experience and social discovery.
RIM lays out new BlackBerry strategy to grab market share
Thai Webmaster Association, and leadinglocal websites – such as Pantip and Blognone – to host a website development competition for interested website developers, as part of the ‘Travel Thailand, Bring Back the Land of Smiles’ campaign.
Research In Motion (RIM), the maker of BlackBerry smartphones, is moving into touchscreen territory in a bid to tap young buyers and regain market share lost to Android and Apple’s The campaign aims to promote iPhone. tourist attractions in Thailand among travelers, both from ThaiThe move is aimed at boosting land and abroad, after the country RIM’s portion of the Thai mar- was hit by recent floods. Through ket, the second largest in South- this project, Microsoft Thailand east Asia. “2012 will be our larg- hopes to play a part in tourism est spending year in the past few recovery and promoting stanyears,” said Nick Yoong, senior dard technology of website demanager of RIM Thailand. velopment led by the adoption of HTML5. BlackBerry is scheduled to open its representative office in Thai- The winner’s work will be shown land by June. The company plans on TAT and MSN Thailand’s ofto expand its local retail outlets ficial websites. It will also be inupcountry. ternationally promoted through the websites of Microsoft offices Mr Yoong said the company is in in Asia and Eastern Europe. This talks with a few state agencies to enables the promotion of Thai promote the use of BlackBerry... tourism to a wider range of target Full story at http://goo.gl/FqcLE travellers.
The local launch was the result of cooperation between Pacific Licensing Studio and MCN Asia (Thailand). MCN Asia (Thailand) managing director Montri Verayangkura said that with the Facebook version of Angry Birds, the The Thai unit of the US technol- game’s makers hoped to have a bilogy giant will spend money on lion people playing it worldwide marketing for the first time since in the next couple of months. its inception six decades ago, a move aimed at strengthening its Currently more than 600 million brand for the mass market. people play Angry Birds on smart phones and other mobile devices Parnsiree Amatayakul, managing around the world. Thailand has Microsoft joins director of IBM Thailand, said the 13.7 million Facebook users, and tourism campaign company plans to set up four of- the company targets all of them as Microsoft Thailand Co Ltd is colfices upcountry this year, in Khon potential Angry Birds devotees... laborating with the Tourism AuKaen, Nakhon Ratchasima, Chon Full story at http://goo.gl/sv6pA thority of Thailand (TAT), the IBM Thailand is spearheading sales growth in both local and regional markets by using Thailand as a springboard to Laos and Myanmar.
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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
To capitalise on the trend, Rakuten of Japan, the world’s third-largest online marketplace, is adding a “human touch” to its site, which it claims will mark the beginning of a new chapter in e-commerce. Rakuten’s marketplace enables its on- “We will see the growing trends line merchants to directly contact in which consumers expand their and interact with their customers. social media usage to more and across devices where they embrace “I believe online shopping will be- the new social media experience come a mainstream channel over as their primary source of content the next five to 10 years,” said Hi- and in-depth community interroshi Mikitani, Rakuten’s group action,” said Varidda Voraakom, chairman. The internet firm has Chief Innovation Officer revealed. market capitalisation of US$14.8 billion in the US stock market. “The trends like Interested-based Social Site, Influencer Outreach, The proliferation of smartphones, Social TV and Social Crowdtablets and smart wireless devices, source, will be the new... along with high-speed broadband Full story at http://goo.gl/HW5UW availability in 3G and cloud computing technology, has encour- Angry Birds land aged the growth of e-commerce, on Facebook said Mr Mikitani. Online purchas- The Facebook app of Angry Birds, es via wireless devices last year one of the world’s most popular surged five-fold year-on-year. computer games, was launched globally yesterday in a bid by its He expects people will use their makers to win over game lovers face or a fingerprint as... among users of the social-netFull story at http://goo.gl/aZZTQ working service – including its many Thai users.
IBM targets Thai expansion
...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
“Tourism is one of our country’s strengths, and gives us competitive advantages in the global market. Thailand is known as the... Full story at http://goo.gl/RganW
10
BANGKOK BUSINESS BRIEF
Briefs Tourism
http://goo.gl/fxE4d
Miracle Thailand to the rescue The Tourism and Sports Ministry will kick off its “Miracle Thailand Year” campaign in April after postponing it from last month due to the massive flooding. The campaign’s 6.3-billion-baht budget allocates 600 million baht to the ministry, 4.8 billion baht to the Tourism Authority of Thailand (TAT), and the rest to other state agencies.
www.bangkokbusinessbrief.com
March 2012
To read the full article of a story brief, enter the short code at the end of the story into your browser: ganising periods and coverage areas of major festivals. For example, the Songkran festival promotion may be extended to one month... Full story at http://goo.gl/nTB2x
Average occupancy rate only 59.21% in 2011
Thailand’s average hotel occupancy rate was at 59.21 per cent last year, according to the figures accumulated by the Thai Hotels Association (THA).
Surapong Techaruvichit, vice president of the Thai Hotels Association (THA), admitted that the rate was not in line with the 19 per cent increase in the number of visitor arrivals. He attributed The TAT will handle most of the that to the emergence of non-hopromotion for a campaign aimed tel accommodations like serviced at celebrating the His Majesty the apartments. King’s 84th birthday last month. All tourism activities will use the Hotels in the North suffered the word “miracle” in the title. most with occupancy of only 45 per cent, while hotels in the South The ministry will extend the or- (western coast, covering Phuket,
...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
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Krabi and Phang Nga) enjoyed Four-year govtthe highest occupancy at 66.47 per cent. Occupancy rates for hotels in private tourism Bangkok and Central region with plan eyed 250 rooms or more were... The government will work with Full story at http://goo.gl/Q5str the private sector on forging a tourism strategy to reAs tourism booms, four-year store confidence in Thailand and an old ‘crisis’ prepare the country for the Asean Economic Community in 2015. may resurface As Thailand’s tourism industry gets set to soar again, a regional meeting on the global AIDS pandemic organised here last week has refocused attention on a rarely discussed subject: the extent to which Thailand’s nightlife and entertainment industry contributes to the global spread of HIV/AIDS. Although the Thai tourism industry robustly touts its contribution to economic growth, jobs and foreign exchange earnings, through copious statistics, far less data is available about how more than 20 million visitors, especially those who will be here purely for the nightlife, could potentially worsen an already bleak situation. Reports presented at the Asia-Pacific High-level Intergovernmental Meeting on the Assessment of Progress against Commitments in the Political Declaration on HIV/ AIDS and the Millennium Development Goals made clear the... Full story at http://goo.gl/0IFva
Singapore pushes for stronger Thai effort
Singapore is urging Thailand to introduce new tourism products and build brand awareness through key media outlets, as other rival countries, especially Taiwan, aggressively promote their destinations to Singaporean tourists. The Tourism Authority of Thailand (TAT) met 22 leading tour operators in Singapore last Tuesday. They revealed that Taiwan actively promoted its tourism sites via the popular Mandarin language TV channel 8 in Singapore. Goh Poon Soo, executive director of Alternative Travel, added that new products such as golf clinics should be introduced for teenagers. Surapol Svetasreni, the TAT governor, said Thailand is very popular among Singapore tourists... Full story at http://goo.gl/4ODKt
Prime Minister Yingluck Shinawatra said yesterday that although the number of visitors last year soared 20 per cent to 19.1 million, the tourism industry faced fierce competition, and this called for closer cooperation between the public and private sectors. The industry has suffered from a series of bad news over the past years, from the airport closure and political instability to the recent floods. The strategy should highlight two selling points of Thailand, as a cultural destination... Full story at http://goo.gl/Wzaxq
Major new destination planned in Phetchabun
An eco-tourism icon in AsiaPacific is being planned for the northeastern province of Phetchabun, with Bt3 billion earmarked for the first phase alone, to prove that the growing number of visitors will not always cause environmental damage. The master plan and financial feasibility study for the project, set to take shape near Si Thep National Park, was completed by Hong Kong-based Synergy Global Property Alliance Corporation, which worked with Thai and international tourism organisations. The company is confident that implementation will be smooth even though the project will cover a vast area of 1,443 rai. “The feasibility study is based on detailed discussions with local authorities. The concept of the project is to... Full story at http://goo.gl/1dyti
Govt urged to allay terrorism fears
Concerned tourism businesses yesterday called on the government to make it clear to the international community that the bomb blasts in Bangkok on Tuesday had nothing to do with terrorism. “Reports from foreign news... Full story at http://goo.gl/ibgYd
2
BANGKOK BUSINESS BRIEF March 2012
BANGKOK BU SINESS BRIEF
Briefs 11
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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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ong. Some of them plan to have head offices in Pattaya... Full story at http://goo.gl/JYszz
Real Estate
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Condo launches fall, but is it the bottom?
Condominium launches dropped during the fourth quarter of 2011as buyers adopted a wait-andsee attitude because of the recent Approximately 2,491 condomini- flood crisis, causing developers to um units in Pattaya were sold dur- postpone new launches, according ing 2011, an increase by 120 per to Colliers International Thailand. cent from the year 2010, according to Knight Frank Thailand. Some 5,100 units were launched during the quarter in an ongoing Frank Khan, head of Residential downward trend in year-over-year Department, Knight Frank Thai- growth. But the flooding may have land, said that the demand of Pat- been an accelerating factor pushtaya condominium was mainly ing some buyers to purchase confrom local Thai buyers in some dominium units in urban Bangprojects, especially the projects kok and along mass transit routes which are located in the North to avoid the floods, as seen from Pattaya or Wongamat area due to the higher sales of those units, says a large number of retail outlets, managing director Patima Jeerahigh end restaurants and bars and paet. shopping mall in the area. City condominium located in South According to the company’s rePattaya is preferred by foreigners. port, 3,788 condominium units were completed and registered The ideal unit for Thai buyers as in the fourth quarter, bringing a second home is a one-to-two- the total number for Bangkok to bedroom condo sized at about 322,435 units. The completion of 55 square metres. Investors buy- many projects had been delayed... ing units to let are fond of smaller Full story at http://goo.gl/UIXCB one-bedroom units of about 39 square metres. Among foreign Luxury condominium prices buyers, Russians are another... Full story at http://goo.gl/PcL4o up 11% in 2011
Brisk demand for Pattaya condominiums
Tulip Group cultivates Pattaya office market
Luxury condominium prices in inner Bangkok rose by 11.5% last year to an average of 145,000 baht Tulip Group, the Pattaya-based a square metre, says real estate residential developer, has an- consultancy Agency for Real Esnounced plans to build a 2-bil- tate Affairs (AREA). lion-baht, 44-storey office building in central Pattaya to harness A survey of projects in Phloenchit, the potential of the office market. Chidlom, Pathumwan and Ratchathewi in December last year Kobi Elbaz, the group’s founder found 2,357 units, with 404 units and chief executive, said while sold, leaving 1,953 available. there is no office supply in Pattaya at the moment, demand is rising Sopon Pornchokchai, AREA’s from industries tied to electronics, president, expects these units will automotive, spare parts and fuel. be absorbed within 10 months. “Pattaya’s property booming,” he said.
...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
market
is He said prices rose by 3.6% for the six-month period from June 2011, but the return on investment for “It is attracting new investment the whole year was in the double... and business due to its better in- Full story at http://goo.gl/vCFBP frastructure, new large departBright outlook ment stores and hotels.”
for continued hotel investment
Mr Elbaz said demand will also come from big companies aiming The momentum of hotel investat expansion in Pattaya and Ray- ment in Thailand is likely to con-
tinue, supported by new buying opportunities, especially in tourist destinations, according to the property service consultant John Lang LaSalle.
44 new projects worth Bt46 billion over the next two years. Pruksa Real Estate, meanwhile, has budgeted Bt6 billion for land to serve the same time period, and Land & Houses’ budget is Bt5 billion (for Activity in Thailand is projected to others, see the graphic). increase as some counter-cyclical buying opportunities emerge, said Most of these firms are focusing Mike Batchelor, managing direc- on land in flood-free locations tor for Asia’s investment sales of such as the central business disJones Lang LaSalle Hotels. tricts of Bangkok and upcountry. Areas that have suffered flooding... The political environment is more Full story at http://goo.gl/mzDfI stable and trading is expected to rebound over the next 12 to 18 Iris Group months, notwithstanding the im- splashes out for pact of the recent flooding disaster precast factory in Bangkok. Property developer the Iris Group Similar to Hong Kong and Singa- will spend 200 million baht to pore, some offshore and long-term build a precast factory to avoid Thai owners are looking to exit... problems stemming from labour Full story at http://goo.gl/VwL9z shortages and rising costs. Analysts forecast Myanmar labourers Top firms budget may return home as their country Bt50 bn for land opens to foreign investment. RisThe top 10 listed property firms ing costs will stem from increased have continued to expand their wages, as the daily minimum wage investments, budgeting more than is expected to jump in April. Bt50 billion to buy undeveloped land over the next two years, and Chief executive Kittipong focusing on locations that have Sumanont said Iris will build a never faced flooding. precast factory that will apply construction technology from GerSansiri has budgeted Bt6 billion to many. It will operate as a... buy undeveloped land this year for Full story at http://goo.gl/pvXpN
12
BANGKOK BUSINESS BRIEF
Briefs Environment / CSR
http://goo.gl/Y09sv
Feeling green on Phi Phi French firm Abalone shares the experience of building its green headquarters here – Barnabe Baudu, a 27-year-old project manager from France, has been to Koh Phi Phi a couple times since his boss, Francois-Xavier Moutel, chief executive of the Abalone Group, opened a hotel on the island two years ago.
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March 2012
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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
gen storage. The office provides President Subhak Siwaraksa yesmuch of its own energy without terday said that energy, including producing pollution. renewable energy, was a low-risk business for the bank as powerWith hydrogen storage, the build- plant investors sell their output to ing can package solar heat during the state-run electricity authorithe summer for use during winter. ties. In one year the office consumes this internal energy for seven months Moreover, demand for electricity without the need to buy from an is increasing in line with the growoutside source. ing economy, and the government is changing the power operating It was designed in 2003 and con- platform from traditional fuel struction began three years later, sources to gas and renewable encosting 4.5 million (182 million ergy by using adders to attract... baht), but Mr Baudu said it would Full story at http://goo.gl/LK9eg be cheaper in Thailand because of... Full story at http://goo.gl/q6ReT The rise of the
CIMB targets big energy-sector lending boost
Once Mr Baudu found out how expensive electricity is on the island, he seized on the opportunity to bring his company’s experience in green energy to Thailand. CIMB Thai Bank is in talks with two major power-plant operaAt Abalone’s French headquarters, tors for the facilitation of project the building features several en- financing, as it aims to boost its vironmental flourishes including proportion of lending to the enerwind turbine, thermal solar energy, gy sector to 5-6 per cent this year, photovoltaic solar cells and hydro- from 3 per cent currently.
BANGKOK
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smart city
In the past two columns, we discussed the rise of the Smart City and the many aspects that characterise such forward-looking development,including a Smart Economy, which we discussed on Dec 5. Today we look at the second of the elements that comprise a Smart City, that of a Smart Environment.
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Piboon Piboontum, the vice president for financial management and director of the solar power plant operator, L Solar 1, said yesterday that each of the four plants could produce 6MW. The company already has acquired land in Prachin Buri and Sa Kaew, next to the plant of L Solar 1. However, the company is waiting for the government’s complete announcement of the feed-in tariff rate. The Energy Regulatory Commission is studying the introduction of a feed-in tariff for solar power to replace the Bt8-per-unit “adder”. If the feed-in rate is equivalent to Bt6.50 per unit of adder, Loxley... Full story at http://goo.gl/HyA2j
Putting the squeeze on drinking water
Thai Namthip Ltd, the producer of Namthip drinking water, has installed 700 million baht worth of new machinery to produce drinkA city aspiring to smart environ- ing water in eco-friendly packagment status needs to be evaluated ing at its Pathum Thani plant. based on several criteria including health promotion, pollution Charnvit Charindhorn, the senior control, recycling techniques, vice-president for new categories management of water resources and business development, said and planning based on environ- the move is part of Coca-Cola’s mental concerns. However, each modernisation of its production city will likely prioritise and ap- technology. proach these challenges differently depending on a combination of Yesterday saw the relaunch of the national focus and local circum- Namthip brand, now in a new stances and needs. squeezable bottle that will gradually replace the old bottles. The So given such a potentially wide newly designed and fully recyclarange of possibilities, I will focus ble PET bottle uses 35% less plason just one element of a smart tic than the old design and can be environment that most cities will crushed into a... probably see as a priority: envi- Full story at http://goo.gl/CX8aO ronmental pollution control. The control and curbing of pollution is a major challenge to every smart city, whether it is dealing with an already established industrialised economic base or... Full story at http://goo.gl/WSV6N
Loxley to push ahead with solar power
Loxley wants to build up its solar power business by joining hands with potential partners to build four plants requiring investment of Bt2.4 billion with combined capacity of 24 megawatts.
BMW pushes for CO2 excise rate
BMW reaffirmed its position on the implementation of a carbon dioxide (CO2) emission-based excise tax rate for vehicles to enable Thailand’s automobile industry to achieve sustainable development and set a precedent for global environmental concerns. Thailand’s current excise tax system for vehicles is calculated based on engine size and horsepower. BMW said engine displacement and horsepower are not indicators of an environmentally friendly... Full story at http://goo.gl/II6DL
2
BANGKOK BUSINESS BRIEF March 2012
BANGKOK BU SINESS BRIEF
Briefs13
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BKK to host Rotary International 2012 convention
Rotary International has announced a plan to host the “Rotary International 2012” in Thailand during May 6-9, which could generate over Bt3 billion in revenue as over 38,000 participants are expected.
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
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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
...
the country’s tax approach and potential tax reforms in order to deal with the AEC ahead of time.
One key change in tax policy is the reduction of the normal corporate income tax rate from the longused rate of 30% to 23% for a taxpayer whose first accounting period starts on or from Jan 1, 2012. The rate then declines to 20% for the subsequent two consecutive accounting periods. What is going to happen to you on Jan 1, 2015? Are you going to fall back to the ordinary corporate income tax rate of 30%? This issue is not a concern for small businesses... Full story at http://goo.gl/Riuxs
Pichai Rattakul, advisory chairman of the organising committee, said that Thailand is selected the Officials seek meeting venue thanks to its status standard of as a regional aviation hub, govern- geographical ment’s supporting policies to the MICE (Meeting, Incentive, Con- indication vention and Exhibition) market, The government is pushing for as well as availability of required establishment of a common stanfacilities. dard of geographical indication (GI) registration in Asean to enThe convention will take place sure trust and prepare members at Impact, Muang Thong Thani, for the Asean Economic Commuunder “the Land of a Thousand nity (AEC). Smiles” theme. Joining the troupe of speakers is Nobel Laureate... Kajit Sukhum, assistant directorFull story at http://goo.gl/PQom9 general of the Intellectual Property Department, said a comparable Asean prepared common standard would benefit for FTA with consumers in Asean and add value to products, resulting in more Hong Kong income to GI producers in local Asean members are prepared to communities. study the pros and cons of the free trade agreement with Hong Kong, Thailand is the country with the which officially submitted the in- most advanced GI protection law, tention last November. which was implemented in April 2004 to protect both local and... Thailand’s Trade Negotiations De- Full story at http://goo.gl/g7jT6 partment announced that Hong Kong’s inclusion would be part of Regard Asean as domestic extension, the Asean-China FTA. Srirat Rastapana, director-general of the department as co-chairman of the Asean committee on AseanChian FTA, said that Asean economic ministers recently ordered the senior officials to study the inclusion pattern and obligations.
...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
firms urged
Thai enterprises have been urged to consider Asean as part of their domestic market to achieve sustainable trade and investment growth given the shift to a single market and production base under the Asean Economic Community in 2015.
Though Hong Kong is part of China, it maintains the economic... Trade experts advised businesses Full story at http://goo.gl/BvHeI to focus on middle- and upperlevel consumers in the region to The Aec and Tax offer product differentiation in the Although it is still too early to light of intense competition from judge the impact on the Thai tax China. They shared the view that environment after 2015, it is very Thai traders must not consider... important to start thinking about Full story at http://goo.gl/4mTZc
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14
BANGKOK BUSINESS BRIEF
BANGKOK BU SINESS BRIEF
Briefs
December 20 11
www.bangkokbusinessbrief.com
March 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
http://goo.gl/mbUpG
AMCHAM and U.S. Embassy Networking Night
U.S. Embassy Deputy Chief of Mission Judy Cefkin and AMCHAM President Joe Mannix
The Embassy officers described their work and discussed topics important to AMCHAM memOn January 31, AMCHAM’s an- bers, such as Consular Services, nual “Meet the Embassy” night Commerce, Customs, Economics brought together over 100 AM- and Security. CHAM members with a large delegation of senior U.S. Embassy Following the event, the Anantara officials at the Anantara Bangkok treated Embassy staff and AMRiverside & Spa. The event helps CHAM members to tropical food AMCHAM members to become and drinks at Trader Vic’s restauacquainted with Embassy officials rant and bar. and the work of their departments. AMCHAM thanks the Embassy officials for their time and the Anantara Bangkok Riverside & Spa for their hospitality. AMCHAM discussions with Customs Department January 30, the AMCHAM Customs and Excise Committee met with Director-General, Customs Department, Mr. Somchai Poonsawat to welcome him to his new position and to discuss amendments to the Royal Thai Customs Law. AMCHAM, along with the British Chamber of Commerce and the Australian Chamber of Commerce, have been working with Royal Thai Customs to update their Customs laws which are more than 80 years old and do not reflect international standards and best practices.
To re enter the sto
AMCHAM Members and Friends at 2012 Installation Ball
2012 Installation Ball: New York, New York On February 11, the 2012 Installation Ball brought New York City to the Grand Hyatt Erawan Hotel. Over 350 AMCHAM members and guest came to AMCHAM’s annual black tie gala to greet AMCHAM’s 2012 Board of Governors and enjoy an evening of dinning, drinks, dancing and great live music—a night out in the city that never sleeps! The Installation Ball is also a major fund-raising event for the AMCHAM Thailand Charitable Foundation (ATCF). This year, the event’s silent and live auctions rose over Baht 1.6 million for the ATCF’s Student Scholarship Program. AMCHAM thanks all those that contributed to a fruitful auction.
Director-General, Customs Department, Mr. Somchai Poonsawat and AMCHAM respresentatives
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www.bigmangoproperties.com
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BANGKOK BUSINESS BRIEF
BANGKOK BU SINESS BRIEF
Briefs
December 20 11
www.bangkokbusinessbrief.com
March 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.
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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 AustCham Events for Your Calendar in March Sundowners Sundowners is AustCham Thailand’s monthly business networking function. It is a great opportunity for members and guests of the Chamber to meet, network and exchange views in a social environment. Date: Tuesday, 6 March 2012 Time: 18:00 - 21:00 (last drinks served at 20.30) Cost: Baht 500 for members and Baht 950 for non-members Location: “The Residence”, Grand Hyatt Erawan Bangkok BTS: Chidlom / Rajdamri Map: tinyurl.com/4y5aon4 To book: visit www.austchamthailand.com Highlight Events from January and February
UN at the Sharp End: Office on Drugs and Crime -Wednesday 18 January at ServcorpThe United Nations Office on Drugs and Crime (UNODC) is the UN’s centre in the fight against “uncivil society”. UNODC leads global drug control and transnational organised crime prevention efforts and works with law enforcement, governments and NGOs on the front lines of human and drug trafficking, migrant smuggling, corruption and in the Golden Triangle. Providing a rare insight into the UN’s efforts at the sharp end of drugs and crime, Gary Lewis, UNODC Regional Representative East Asia and the Pacific, talked on transnational crime prevention in South-East Asia. Gary discussed the trafficking of children, drug treatment in Thailand, and the implications of the recent changes in Myanmar. Bangkok Sundowners -Wednesday 1 February at Natural Ville and LenotreSponsored by and hosted at the venue of AustCham Gold Sponsor, Nautural Ville and Lenotre the first Sundoweners for 2012 was a great success. Thanks go to our generous hosts for a spectacular evening and their generous ongoing support.
To re enter the sto
http://goo.gl/N47Gg
Boardroom Brief: Australian-Thai & World Economy -Wednesday 25 January at Pacific City ClubAt a time when traditional markets continue to be buffeted by financial turbulence, both Thailand and Australia are poised to buck the trend with strong economic growth and accelerated investment opportunities. Or are they? On Wednesday 25, AustCham members and guests heard from two highly-respected economic commentators: Paul Gambles, Managing Partner of MBMG Group and Carey Ramm, Chairman of leading Australian consultancy AECgroup. Paul and Carey provided an update on the global economic outlook with a particularly focus on Thailand and Australia. With economic volatility becoming the norm, this briefing was a great opportunity for attendees to get a head start preparing for the forthcoming year.
Alumni Entrepreneurs: an evening with Khun Mechai -Wednesday 8 February at GlowfishA graduate of the University of Melbourne, Khun Mechai is perhaps not an entrepreneur in the traditional sense of the word. Rather, he has developed his own brand of world-leading social entrepreneurship which blends commercial success with community mindedness, individual responsibility and continual personal development. This event was the first in a series of AustralianAlumni presentations focussing on the achievements of Australian alumni leaders for 2012. In his inspirational presentation, Khun Mechai Viravaidya discussed his innovative and enormously successful approaches to community and social development. The event included an opportunity for alumni to network with one another over a glass of Australian wine and finger-food courtesy of our fantastic venue sponsor Glowfish. The AustralianAlumni launch event is scheduled for Wednesday 21 March. Please visit www.australianalumni.com for further details.
2
BANGKOK BU SINESS BRIEF
December 20 11
Briefs 17
www.bangkokbusinessbrief.com
BANGKOK BUSINESS BRIEF March 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 Congratulations to the 14 elected Chris Thatcher board members of BCCT Toni Weber TNT Express Worldwide BCCT members elected the fol- (Thailand) Co., Ltd lowing Board of Directors for 2012 at our Annual General Meeting: The 2012 board and the BCCT office look forward to continued coChairman operation with our members and Simon Landy partners. Members are encourColliers International Thailand aged to share your views and suggestions by contacting any of the Vice Chairmen board members or staff at our ofMatthew Lobner fice. Full contact details are availHSBC able on the BCCT website. Simon Matthews Manpower Thailand Dean Thompson Boots Retail (Thailand) Ltd John Sim KPMG in Thailand Treasurer John Sim KPMG in Thailand Directors Jane Bailey Equitech (Thailand) Ltd Gary Biesty South Asia Law Co., Ltd David Cumming Amari Orchid Pattaya Richard Greaves Grand Hyatt Erawan Bangkok Colin Hastings The Big Chilli Co., Ltd Andrew McBean Grant Thornton Sriram Narayan British Airways PLC
http://goo.gl/Vav3Q
BCCT Board of Directors 2012. Simon Landy (seated third from left) of Colliers International was elected as Chairman. Missing from the photograph are: Colin Hastings of the Big Chilli, and Andrew McBean of Grant Thornton.
BCCT marks international wom- of the glass ceiling. The pressure en day by highlighting success of on women to combine childcare women entrepreneurs and family obligations with career aspirations remains a major chalThe past few decades have wit- lenge. This has led many women nessed a steady improvement to venture into entrepreneurial of the empowerment of women initiatives, where they are able to through political and economic take more control of their time. equity. Thailand is one of the coun- The number of women entrepretries where improvements have neurs is on the rise, possibly due been significant, to the point that to a number of factors such as the the country now ranks amongst ease of starting a business and easthe highest in terms of women in ier access to the internet. The latter senior position in businesses. in particular has helped in a number of ways, making it possible According to a global research for female entrepreneurs to reach conducted by Grant Thornton In- potential clients, do research on ternational in 2011, Thailand has competitors, learn new skills, rethe greatest percentage of women cruit staff and contract other proin senior management at 45%, fessional services while still being against the global average of 20%. able to maintain their obligations Interestingly, it is the G7 countries to their household and their chilthat lag behind the global average dren. with only 16% of women in senior roles. Thailand moved up from its To recognize the social and ecothird position in 2009, while the nomic contribution that women global average fell from 24% in the make and to mark International same year. Women’s Day, the British Chamber of Commerce through its While the numbers indeed look Professional Women’s Group, is impressive for Thailand, and are holding a Women’s Entrepreneurs an indication of a work culture Night on the evening of 8 March that provides equal opportunity 2012. At the event you will be have for men and women, a large num- the chance to speak to a number of ber of women still feel the presence women who have set up business-
To re enter the sto
es in Thailand and find out what their challenges were (and still are!), and how they have managed to steer their businesses through those challenges, raise a family and maintain an active social life! Plus you get to see their products on display! Check out www.bccthai.com for details.
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. For more information visit www.bccthai.com or ‘like’ us on Facebook (‘British Chamber of Commerce Thailand’).
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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
Sponsored by
15 Soi Tonson, Ploenchit Road Lumpini, Pathumwan, Bangkok 10330
http://goo.gl/9Y8wd
December 20 11
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March 2012
Belgian-Luxembourg/Thai CC (BeLuThai)
BANGKOK BU SINESS BRIEF
http://goo.gl/EQ7pz
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
2
BANGKOK BUSINESS BRIEF March 2012
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
Korean-Thai CC (KTCC) 6th Fl. Rajapark Bldg, 163 Asoke Sukhumvit 21 Rd, Klong Toey Nua, Wattana Bangkok 10110 Tel: +66 (0)2 204 2503 Fax: +66 (0)2 204 2504 Website: www.korchamthai.com Email: ktcc@korchamthai.com http://goo.gl/H33BK
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
December 20 11
Briefs 19
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Thai-Chinese CC (Thai-CC)
BANGKOK BU SINESS BRIEF
General Inte
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 a Chamber’s website.
Thai-Pakistan CC (TPCC)
rest
...
Thai Samut Asset Co., Ltd., Unit J, 16th Floor, 163 Suriwongse Road, Bangrak, Bangkok 10500 Tel: +66 (0)2 634 0147-8 Fax: +66 (0)2 634 0149 Website: www.thai-pakistanchamber.com Email: info@thai-pakistanchamber.com http://goo.gl/PQj3C
Thai-Russian CC (TRCC)
To re enter the sto
14th Floor Loxley Bldg, 102 Na Ranong Road, Klong Toey, Bangkok 10110 Tel: +66 (0)2 348 8873 Fax: +66 (0)2 240 3307 Website: www.trcc.or.th http://goo.gl/Pk8wu Email: admin@trcc.or.th
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
Bangkok Entrepreneurs is a Networking group
for Entrepreneurs, Business Owners and Senior Executives living and working in Bangkok or around. We meet on a regular basis (every month) to exchange experience and ideas. Every meetup starts with a presentation covering a different topic: Visa, Work Permit, Legal, Labor Laws, Accounting, Recruitment, Taxes, Real Estate, Social Security, Insurance, Audit, Business Practices, etc. The presenter is usually an expert in a related field who gives us the latest information and answer to all our questions. Our meetups are held in a restaurant or a Pub conveniently located near a BTS or MRT station. Members share a drink or a meal and meet fellow entrepreneurs and business owners for an informal and friendly discussion. Join us now on http://www.meetup.com/Bangkok-Entrepreneurs and see you at the next event!
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BANGKOK BUSINESS BRIEF
A Renaissance for Thailand’s Skilled Labor? Story continued from Page 1.
comprise quality auditors and production-line workers. The company began shifting production from its Yokosuka factory to Thailand about 15 years ago, and production of certain products had already been discontinued in Japan prior to the floods. Because of this, the company decided to ask their factory workers in Thailand to come to Japan to supervise the 1,600 Japanese temporary workers who were newly hired for backup production.” Although this move is only a temporary short-term fix to the production issues caused by the floods, could it become a trend in the coming months and years? Could Thailand’s skilled labor force become the trainers for companies throughout the region? Despite the receding floodwaters and massive cleanup underway at the industrial estates, many companies have developed alternative plans for production
www.bangkokbusinessbrief.com
March 2012
in case a natural disaster strikes Thailand again. Countries in the region, such as Cambodia and the Philippines, look to benefit from this ‘better safe than sorry’ approach, as companies look to spread production capacity away from only one, potentially vulnerable, area. But like in Japan, in order to get these new facilities up and running, these companies may have to rely on their experienced Thai workers to help them train new employees.
vancement, many analysts are predicting that this demand, both in Thailand and in the region, will completely outstrip supply. Analysts predict that production at the inundated facilities in Thailand will resume during the first quarter of this year, and most of the workers laid off during the floods are expected to rehired. However, demand for sales personnel, engineers, and technicians is expected to increase in 2012, leading to an overall shortfall in supply. This comes despite fears that the govAs reported recently in The Na- ernment’s plan to increase the tion, many multinationals are minimum wage in Thailand will looking to invest in Cambodia, eventually affect all wages. and Thailand-based recruitment companies, such as Manpower, Investment in Thailand and the are seeing enough potential for region remains strong, and there new business that they now plan are indications that more busito open an office in the country. ness may be heading to SouthIt’s plausible that this trend will east Asia’s ‘specialist manufacalso extend to other countries turing hub’ in the near future. in the region where Thailand’s Boeing recently announced that skilled and experienced middle the world’s airlines will require management workers will be 50,000 new planes over the next in demand. 18 years, and 35% of that growth will be in Asia. With engine But while Thailand’s workers, manufacturer Rolls Royce and especially in the automotive and other aviation sector companies IT/electronics sectors, will see already operating in Thailand, increased opportunities for ad- any increase in world production
will certainly affect the country. Even at the retail end of the aviation industry, demand for skilled technicians, ground crews, and aviation mechanics will increase in Thailand as well. Whether Thailand can cope with the predicted shortfall of the supply of skilled workers and create a viable specialist workforce in the long term remains to be seen. As the country approaches 2015 and the implementation of the first elements of the Asean Economic Community blueprint, it’s possible that workers in some of Thailand’s neighboring countries will reap the benefits of the shortfall in the supply of skilled workers. But it’s also possible that, even after the worst floods in Thailand in over 50 years, Thailand will emerge economically stronger than it was before the floods, thanks in no small part to the skill and experience of the country’s labor force.
Read fresh business news briefs about Bangkok, Thailand, and Asia every weekday at www.bangkokbusinessbrief.com
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BANGKOK BUSINESS BRIEF
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March 2012
The Calendar Sunday
26
For event details, enter the short code below the event into your browser:
goo.gl/6ngBg
Tuesday
Monday
27 AMCHAM: Doing Business in Burma http://goo.gl/TJokm
4
March
Bangkok Trader Networking Party http://goo.gl/6ngBg
5
28
Bangkok Trader: Networking Night http://goo.gl/EnNbR AMCHAM: All-Risk Insurance http://goo.gl/iy8hT More events for today: http://goo.gl/qD2op
6 AustCham: Annual General Mtg. http://goo.gl/EFOlO AustCham: Sundowners http://goo.gl/tEtwE
11
12
AMCHAM: Board of Govs. http://goo.gl/IsM01 AMCHAM: HR Cmte http://goo.gl/OrvOE Joint BCCT/AustCham/ RICS P&I Breakfast Brief. http://goo.gl/WaqWr
18
19
AMCHAM: Smarter Brand... http://goo.gl/vdzNN BCCT: 1/2-Day Wkshop: Performance Mgmt. http://goo.gl/scLyi More events for today: http://goo.gl/qD2op
AMCHAM: Univ. of Texas Briefing AMCHAM: Ten AMCHAM: HR Cmte – http://goo.gl/R8MrO Steps to Advocacy Success Healthy Workplace http://goo.gl/68BUZ AMCHAM: University http://goo.gl/AdmHh of Washington Briefing AMCHAM: Tax Cmte AMCHAM: http://goo.gl/812oP http://goo.gl/kytp1 Marketing Cmte Bangkok Entrepreneurs Bangkok Entrepreneurs http://goo.gl/tYHz5 http://goo.gl/U98Ux http://goo.gl/U98Ux
AMCHAM: U.S. Air War College Briefing http://goo.gl/V11PP
25
26
13
20
27 AMCHAM: Business Economics http://goo.gl/zBnWc BCCT: 1/2-Day Wkshop: Customer Service http://goo.gl/SNntO
1
2
3
AMCHAM: Heritage Index/Econ. Freedom http://goo.gl/yyKIu AMCHAM: Board/Govs. http://goo.gl/tr5ct Bangkok Trader: Networking Night http://goo.gl/EnNbR
www.bangkokbusinessbrief.com
BANGKOK BUSINESS BRIEF March 2012
23
Send us your business event details for the April issue by March 20th to calendar@bangkokbusinessbrief.com Wednesday
Thursday
29
Friday
1
Techday Asia Enterprise Confer. http://goo.gl/ZPkqa AMCHAM: Dedication at Baan Ku Kot School http://goo.gl/IE52N AMCHAM: Program http://goo.gl/opbtk
2
3
8
9
10
AMCHAM: Annual APCAC Spring Mtg http://goo.gl/PbQBt NZTCC: Corporate Knight Networking http://goo.gl/ulvVW More events for today: http://goo.gl/qD2op
7 BCCT/NZTCC/ AustCham PWG: Women’s Entrepreneurs Night http://goo.gl/l3vyn
14 AMCHAM: SME Cmte http://goo.gl/E4Ogx AMCHAM: Social Networking http://goo.gl/WL2zn
21
Cyber Defense Initiative Confer. http://goo.gl/CE2wx AMCHAM: CSR Cmte http://goo.gl/MYdRv AustCham: AustralianAlumni http://goo.gl/BL6HS
28 AMCHAM: Monthly Luncheon http://goo.gl/51wTp BCCT: Annual Lecture & Dinner http://goo.gl/8cGgC
AMCHAM: Phuket – Design Evolution Workshop http://goo.gl/aP5G8
15
AMCHAM: USC Marshall Sch. Brief. http://goo.gl/KB8TT AMCHAM: Santa Fe ChariBowl Tournament http://goo.gl/Vz3vq BCCT: Third Thursday Networking Evening http://goo.gl/S7xja
22
AustCham: Volunteer English Teaching http://goo.gl/drVsK
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17
AMCHAM: Eastern Seaboard Networking http://goo.gl/LNc9Z
23
24
30
31
6
7
AMCHAM: Customs & Excise Cmte http://goo.gl/HTrG6 BCCT: Board Meeting http://goo.gl/E6AZx
29 AMCHAM: Charitable Foundation Cmte http://goo.gl/2iGVt All Chambers: Young Professional Networking http://goo.gl/o06Zw
4 AMCHAM: Seminar – Killer Sales Managers http://goo.gl/xyEuK AustCham: Sundowners http://goo.gl/ou0ec
Saturday
5 AMCHAM: Healthcare Cmte http://goo.gl/ZDZCB AMCHAM: Travel & Tourism Cmte http://goo.gl/LG3ye
AMCHAM: Ind. Day Picnic Cmte http://goo.gl/cauQY Joint Chambers Golf Tournament http://goo.gl/06Gd7 AustCham: Phuket Sund. http://goo.gl/O5ALt