Bangkok Business Brief - Volume 1, Issue 12 - Mid-November/December 2012

BANGKOK

BUSINESS BRIEF

Vol. No. 1, Issue No. 12

Mid-November/Mid-December 2012

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The Life of Pi

By Alan Verstein

Martin Armstrong is the former chairman of Princeton Economics International Ltd. He is known for his economic predictions based on his own ‘Economic Confidence Model,’ which is based on historical business cycles and pi. His theory predicts that

Inside General Interest Finance/Investment Government/Economy Production Retail/Services Tourism IT/Comms Real Estate The Chambers The Calendar

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boom-bust cycles occur exactly every 8.6 years (or 3,141 days, which is the number pi times one thousand). He famously predicted the crash of 1987 to the day. In 1999, the US Securities and Exchange Commission indicted him for fraud. He was then charged with civil contempt by the government and spent over seven years in prison for failing to surrender various assets thought to be purchased with money from the investment in question. He eventually plead guilty to one count of conspiracy and served 4.5 years of a 5-year sentence. His website is http://armstrongeconomics.com.

MA: We’re putting out a report about Thailand, Taiwan, China, Korea, India, Singapore, Vietnam, Philippines, the whole basic region.

What’s interesting is that what I created with the computer, by putting everything together and having the computer do things consistently, so that it’s not one person’s opinion because everybody has an opinion.

It can only be as good as what our experiences are, that’s about it, but when you start putting together everything and you’re correlating, what’s strikingly different, is that even if you look for the little subtle things, like the credit rating agencies upgrading Korea and upgrading the Philippines, you go to Europe and they downgrade everything. Everything is shifting and you can see it BBB: Where does Asia stand to- in the States. It’s getting really, reday? Are we at the beginning, the ally bad that they’re so concerned about every dime. They passed laws middle or the end?

last December... it’s very draconian.

If I didn’t have partners outside the country, I don’t know if I could reestablish anything anymore. Gee, if you send $5,000 outside the country, you might be hiding something.

Well, maybe I’m paying a bill. We’re going look to see if you paid taxes on that. It’s just getting really crazy. And you’re really bringing the ‘velocity of money’ down internationally.

BBB: How does the velocity of money enter the equation for what you see for Asia?

MA: The velocity’s been increasing over here [in Asia] quite dramatically. I think everyone is just focused primarily on the United States and Europe, especially. And they’re overlooking what’s happening in Asia. Forty percent of China’s imports are coming from the rest of Story continues on Page 19

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Briefs General Interest

http://goo.gl/ozbNM

Fraud risk high in Asia, survey finds Fraud risks in the Asia-Pacific region remain above the global average, according to the 2012-13 Kroll Advisory Solutions’ “Global Fraud Report” released in Singapore. Of Asian companies surveyed, India showed the highest number of companies affected by fraud at 68 per cent, followed by China and Indonesia, which each saw 65 per cent of firms affected in the past year, compared with the global average of 61 per cent, according to the report.

Indonesian companies are increasingly looking to move on to the global stage, in particular with investments in Asia and Africa, but 35 per cent of Indonesian companies said they had put off investment in at least one foreign market because

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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

of perceived fraud issues, compared Expat wealth with 27 per cent globally. This con- heads to Asia trasts with Chinese companies, of...

Full story at http://goo.gl/Q19AY “Explore the city and get to know the public transportation routes, Asia at core of this will help you converse with othLiverpool FC’s er expats and find your way around the city.” It’s the description of Thaimarketing plan land in the eyes of expats covered Liverpool FC is focusing its market- in HSBC’s Expat Explorer Survey, ing strategy on Asia, and Thailand is which ranks Thailand the third in considered an important market in the economics league table. The the region thanks to its economic global survey ranks countries on a growth and the popularity of soccer number of factors such as earning in the Kingdom, with a strong base levels, disposable income and ability of Liverpool supporters. Liverpool to accumulate luxuries. While SinFC plans a trip to Asia next year af- gapore tops the chart, Hong Kong ter the end of the soccer season, and came the fourth, China 7th and hopes to visit Thailand, Indonesia Vietnam 10th. and Hong Kong.

Key findings in the survey are: • SinJonathan Kane, director of inter- gapore is home to wealthiest expats national business development for • Over half (55 per cent) of expats in Liverpool FC and Athletic Grounds, Hong Kong earn over US$150,000 said Asia was considered a strong versus 17 per cent globally • Two support base for the club. It will fo- thirds (60 per cent) of expats moved cus its marketing strategies to draw to China for job opportunities. Asia more support from the region for its has come to the fore as a leading destination for expat earning... three main sources of income:...

Full story at http://goo.gl/kM7cO Full story at http://goo.gl/6kQrQ

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The jobs time bomb

Fraud risks in the Asia-Pacific region remain above the global average, according to the 2012-13 Kroll Advisory Solutions’ “Global Fraud Report” released in Singapore. Of Asian companies surveyed, India showed the highest number of companies affected by fraud at 68 per cent, followed by China and Indonesia, which each saw 65 per cent of firms affected in the past year, compared with the global average of 61 per cent, according to the report.

“This year’s Global Fraud Report provides some encouraging indicators on the evolving fraud landscape in Asia-Pacific compared with last year, but we also note that complacency looks to be developing among Asian businesses on the very serious fraud risks they face,” said Tadashi Kageyama, senior managing director of Kroll Advisory Solutions, Asia. In Southeast Asia, the global fraud survey revealed notable trends in Indonesia, one of the fastest-developing markets in Asia...

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

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BANGKOK BUSINESS BRIEF Mid-November/Mid-December 2012 General Inte

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Finance / Investment

http://goo.gl/wKeiJ

UBS foresees SET bull market next year UBS Securities (Thailand) forecasts the Stock Exchange of Thailand will reach 1,500 points next year, mainly driven by local investors. The bull market would be largely supported by domestic investors, which account for 80% of the market.

A projection of 5.5% for economic growth next year would increase local wealth and encourage stock investment, said Raymond Maguire, head of research and strategy.

Strong loan growth, largely from retail finance and small enterprises, has supported the country’s consumption as well. The credit cycle is expected to remain accommodative over the next couple years. Although household debt has increased to 47% from 20% in the past few years and is heading for 60% over the next two to three years, the central...

Full story at http://goo.gl/7g7QQ

Thai investors told to get into Myanmar now

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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

...

Asean Trading Link draws intense interest

Interest among local investors in overseas investment has been steadily building since the Stock Exchange of Thailand joined the Asean Trading Link programme this week, say local brokers. Siriporn Phonpho, an assistant vice-president at Thanachart Securities, said calls expressed the most interest in investing in companies such as Singapore Telecom and Thai Beverage on the Singapore Exchange and AirAsia on Bursa Malaysia.

“We’ve received 8-10 calls a day about the Asean Trading Link, most of them asking about what they need to do to open an account,” she said. It has been two-way traffic, with overseas investors also calling to inquire about purchasing Thai stocks. “Some queries are just about Thailand’s general investment...

Full story at http://goo.gl/bTZ4N

Financial guru Faber knocks Thai ‘cronyism’

World-renowned investment guru Marc Faber says cronyism is a concern for an investor like himself as the Thai government has appointed people connected to former prime minister Thaksin Shinawatra. “I think that, to be quite honest. I as an investor, it concerns me that, for instance, the government appoints principally people connected to Mr Thaksin for, say, Thai [Airways],” he said.

Thai investors, particularly in the manufacturing and tourism industries, have been urged to explore opportunities in Myanmar and take action within three years or face greater competition from global heavyweights after the 2015 general election.

“As an investor, to me it sounds very strange that people who run large Serge Pun, chairman of conglomer- companies are appointed by the ate Serge Pun & Associates (Myan- government and that the governmar), foresees another nine good ment then favours people that are years to come, with President Thein supportive of them. There is still a Sein’s strong commitment to politi- lot of so-called cronyism. In other cal and economic reforms. If either words, I have political power and Thein Sein or opposition leader you’re a businessman or you are Aung San Suu Kyi wins the election, someone who was at the party becontinued improvements are prom- fore and I give you a good job and ised under clean leadership. the position of power,” he said.

“In a general sense, I think everything is good. But first, you should not invest any money, but your time – three days to Yangon and Nay Pyi Taw. Smell the opportunities. If you can’t smell anything, don’t go. You’re not businessmen,” he told a...

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

...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

Nonetheless, Faber said he was “reasonably positive” about the future of Thailand, where he has resided since 2000 and has invested in some properties and Thai stocks. “Thailand is unlikely to be a dynamic economy. It’s not going to be like...

Full story at http://goo.gl/3Vx1o

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Briefs

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Government / Economy

In her opening speech, Yingluck assured the investors of continued growth and stability in the economic stability, underpineed by political http://goo.gl/EIbH6 stability and strong economic fundamentals – sufficient reserves for Yingluck leads short-term debt, low public debt to Thailand’s roadshow GDP and appropriate inflation. She noted that the stock market in the in New York past few years has been riding on...

Prime Minister Yingluck Shinawa- Full story at http://goo.gl/JZMne tra led a delegation of chiefs of public and private organisations in More US gloom a roadshow, aiming to lure more in- expected whoever vestment from the US to Thailand. is president, Thai The roadshow entitled “Thailand: Positioning for Growth and Stability” took place on Sept 27, attended by over 60 fund managers. According to the information on the Thai government’s website, representing Thailand were chiefs of the National Economic and Social Development Board, Fiscal Policy Office, Public Debt Management Office, Federation of Capital Markets Association, Association of Securities Companies and Association of Investment Management Companies.

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economists say

...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

Kobsak Pootrakul, an executive vice president of Bangkok Bank, said. As the United States faces high fiscal deficits, its next leader will be forced to cut spending. About Bt10 trillion to Bt18.3 trillion will be taken out of the system next year, he said. “It is apparent that while one party wants to collect more taxes and spend money, the other party does not want to raise taxes or spend...

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

BOT further spur overseas investment

The Bank of Thailand has further promoted capital outflows aimed at supporting more investment abroad and better management of financial risks. The new measures will also help the central bank manage the exchange rate after the high pressure of large capital inflows has been causing the baht to appreciate.

Thai economists are pessimistic about the state of the US economy, which is expected to remain weak for two or three more years regardless of whether President Barack Obama is re-elected or his rival Mitt Romney wins the presidential race.

Thai exporters do not have much hope for the US market.

To promote overseas direct investment, the central bank will allow “Whoever the next president of the individuals to make unlimited inUnited States will be, he can’t do vestment to expand their producmuch to boost the US economy,” tion or marketing abroad, Pongpen

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Ruengvirayudh, deputy governor of the BOT in charge of monetary stability, said yesterday. The new measure is expected to increase the competitiveness of the private sector. Corporations have been allowed since 2010 to invest overseas without a limit on the amount of money.

For investment in foreign portfolio, the central bank will allow institutional investors including listed companies to put unlimited...

Full story at http://goo.gl/BHUW9

Dawei ‘back on track’ after meet

The delayed Dawei mega-project is expected to forge ahead again soon, after Yingluck Shinawatra and Thein Sein discussed the issue on the sidelines of the United Nations General Assembly. The leaders of the two nations plan to visit the site of the Dawei deep-sea port and industrial project. Meanwhile, ItalianThai Development is expected to sign a contract for construction of the port and the road connection...

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

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Production

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PepsiCo unveils Bt18.4bn plan for Thai investment PepsiCo, the US-based beverage giant, yesterday announced a huge investment of Bt18.4 billion in the Thai market over the next three years in order to strengthen the company’s leading position in the country and drive future growth.

The $600-million investment capital includes the $170-million bottling plant in Amata City Industrial Estate in Rayong, bought from San Miguel in February. Located on a 96-rai plot, the facility is one of PepsiCo’s largest global beverage plants, comprising eight high-speed production lines, each of which is able to produce between 600 and 800 PET bottles per minute, depending on the size.

The remainder of the investment budget will be allocated to other business pillars: building infrastructure for sales and distribution; activation of marketing and consumer engagement; and human-...

Full story at http://goo.gl/g78uo

120 years on, Shell hungry for Thai gas

Royal Dutch Shell is looking to expand its business in Thailand to liquefied natural gas and tap strong gas demand in the local market, says new country chairman Asada Harinsuit. Mr Asada noted that gas demand has skyrocketed here because gas is cleaner and cost-competitive. “Thailand’s power demand will double in the next decade and concerns about climate change have been growing, making gas a more promising choice for the country,” he said.

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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

Bangkok Business Brief

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

...

ing the private sector to invest in LNG-related businesses in Thailand will determine greater use of gas,” Mr Asada said. So far, only energy flagship, PTT PTT Plc has played...

Full story at http://goo.gl/X2Exm

Mitsubishi shows faith in Thailand

Mitsubishi Motors (Thailand) is continuing to expand its investment in the Kingdom by setting aside Bt1 billion to increase production capacity to 500,000 units next year.

President Nobuyuki Murahashi yesterday said the company had originally planned to increase capacity to 500,000 vehicles in 2015 from 350,000 units this year, but had now revised its plan so that capacity would reach 400,000 units this year.

As a result, the local unit has decided to bring forward the 500,000unit capacity schedule by two years, to 2013.

“When our new production capacity starts to operate next year, Thailand will be Mitsubishi’s largest production base for cars in the world, replacing Japan,” he said, adding that the country would also be its manufacturing base for future car models. Murahashi said that although Europe still faced an economic crisis, demand for exported cars in Asia continued to grow. The company is therefore moving its export focus from Europe to the Asian market, and Thailand in particular.

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Volume 1, Issue 12 • Mid-November to December 2012 Copyright 2012. All rights reserved.

Domestic demand for eco-cars and the government’s first-time car buyer scheme have resulted in strong...

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

Volvo chooses Malaysia over Thailand

low volumes. We also questioned whether we should continue or not.

We then decided to sell our Thailand plant and left there last year to consolidate all our volumes here in Malaysia, which is a good decision for us. Now we have proper [sales]...

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

F&N shareholders approve sale of stake in APB to Heineken

Heineken, ending the two-monthlong beer war and shifting the focus to the future of the 129-year-old Singaporean conglomerate. The shareholders yesterday approved the sale of F&N’s direct and indirect interests in Asia Pacific Breweries to Heineken for Bt140.65 billion. The transaction, subject to regulatory approval from authorities in Singapore and New Zealand, is expected to be complete in November.

Fraser & Neave shareholders, including Thai Beverage and TCC As“We’ve had quite some challenging sets, have formally agreed to sell the “The government policy for allow- years, especially until 2009, due to firm’s lucrative brewery business to

While this resolution ends the beer war between Thai billionaire Charoen Sirivadhanabhakdi – who...

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

Mr Asada, also global vice-president in specialties of Royal Dutch Shell, succeeded Pissawan Achanapornkul as head of Shell’s operation in Thailand since the beginning of this month. Mrs Pissawan was assigned to a new post in Britain. The company is celebrating 120 years in Thailand.

Carmaker Volvo, which operates under a company named Swedish Motor Assemblies (SMA) in Malaysia, has chosen to operate outside of Thailand and recently consolidated its Asean operations to a single location in Malaysia. SMA managing director David Stenstrom said recently that Volvo, which had previously operated out of both Malaysia and Thailand, was now focused on scaling up assembly production in Malaysia instead and today exports Volvo cars to Thailand.

6

BANGKOK BUSINESS BRIEF

Briefs Retail/Services

http://goo.gl/QyrTE

It’s official: Thais love Johnnie Walker Thailand is ranked third among 180 markets for Johnnie Walker whisky sales for the third consecutive year thanks to growing numbers of middle-class customers and rising economic prosperity. The consumption of Johnnie Walker in this country is high, behind only the US and Brazil.

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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

mands a 59% share of Thailand’s through and breakfast businesses. imported spirits market, its biggest “Thailand retains its key position as ever. the fastest-growing market in Asia, including South Korea, the PhilipMr Harlow said Thailand’s luxury pines, India, China and Indonesia, market has expanded by 41% over which witnessed 10-to-20-per-cent the past five years. Double-digit annual growth,” Hester Chew, execgrowth of luxury products in Thai- utive chairman and chief executive land will be seen this year and well officer, said yesterday. into the future. Euromonitor International said Thailand’s luxury The company earmarks about whisky segment, valued at 4.57 bil- Bt600 million to Bt650 million a lion baht in 2007, will reach 5.4 bil- year to add at least 22 branches in lion this year.

Bangkok and the provinces. Of the 160 McDonald’s in the country, 123 “Johnnie Walker entered Thailand serve breakfast, 63 operate around more than 100 years ago. Brand the clock, 87 provide home delivery awareness of Johnnie Walker is very and 37 offer drive-through service. strong among Thais. More than 90% The chain also includes 80 McCafe of drinkers know us. And we’ll... coffeehouses and two McDonald’s Full story at http://goo.gl/13snr M-Parks, a small-scale community retail centre with car parks. It plans McDonald’s banks to expand the M-Park format.

Still, Thailand has been dubbed a whiskey-consuming country, while the US is seen as a big vodka consumer. Some 90% of the international spirits business is whisky.

“Thailand is the strongest market on breakfast sales for Johnnie Walker in Asean. More looks to 20% growth than half the sales contribution in Asia-Pacific comes from Thailand,” in key Thai market said Graeme Harlow, the managing McThai expects 20-per-cent growth director of Diageo Moet Hennessy in sales at its McDonald’s restaurants (Thailand) Ltd. Diageo now com- this year, driven mainly by its drive-

LEGAL & ACCOUNTING PROFESSIONALS

Another key factor boosting sales this year is breakfast, which is served from 6-11am. Breakfast now accounts for about 20 per cent of total sales, up from only 13 per cent...

Full story at http://goo.gl/z0qkv

goo.gl/bH6PF

Nok Mini sets sights on Myanmar network Nok Mini, the commuter airline affiliated with budget carrier Nok Air, is eyeing opportunities for launching its first international service, with Myanmar looming on a radar screen. The decade-old airline, owned by Siam General Aviation Co, is evaluating the viability of linking three major Myanmar cities _ Yangon, Mandalay and Bagan _ from its Chiang Mai hub. It will make a final decision on Myanmar service early next year, said Sant Sangwornrachasup, the assistant vice-president for strategic and business development.

Nok Mini plans to use a Saab 340B turboprop for the planned routes.

They are capable of carrying 34 passengers, who on these routes are largely expected to be leisure travellers. The study comes as Nok Mini takes delivery of its fifth Saab 340B later this month to support its

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December 20 11

Briefs 7

BANGKOK BUSINESS BRIEF Mid-November/Mid-December 2012 General Inte

Use the QR Code reader in your smartphone to see all the stories in a certain category. expanding operations. The airline now concentrates on domestic flights from Don Mueang and Chiang Mai airports.

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

THAILAND LEGAL & BUSINESS SERVICES goo.gl/bH6P ...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

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

...

six months under its Sala Boutique brand. Sala Lanna Chiang Mai will be the first to open in December 2012, followed by the Sala Rattanakosin Bangkok and Sala Ayutthaya Nok Mini is the latest Thailand- in 2013. based carrier looking at boosting air links with Myanmar. The neigh- “We are thrilled to be expanding bouring country has emerged from our Sala boutique-branded proper50 years of isolation and is embrac- ties in these cultural Thai cities, all ing reforms that are spurring busi- of which have important historical ness and tourism travel. Yangon,... significance to Thailand. These reFull story at http://goo.gl/HDNLH treats, escapes and getaways, in adwith the flagship – Sala Khao Big C hungry for its dition Yai – are the ideal enhancements to piece of online sales the beach resorts and spas Sala owns and operates in Samui and Phuket,” with debut of site said Brian Moodie, Sala’s Chief OpBangkok, recently crowned the erating Officer.

Facebook capital due to having the most users, is attracting companies Launching before the end of the from a wide variety of sectors to year, Sala Lanna Chiang Mai will be launch their online products and located on the east bank of the Ping services to reach more customers River. The boutique hotel will feaaround the clock. Industry experts ture just 16 rooms with river views... believe this will boost the value of Full story at http://goo.gl/Idy4R online shopping in Thailand to 75 billion baht this year and 100 billion Mercedes E300 baht annually over the next three hybrid headed here years.

Mercedes-Benz is set to become the first car brand in Thailand to offer Retail players already providing a diesel-electric power train in a online shopping include Central mainstream model. The first model Department Store, The Mall Group to get the super-frugal hybrid is the and Tops Supermarket and Singha E300 Bluetec hybrid executive seCorporation. The latest offering dan, combining a 27-horsepower comes from Big C Supercenter Plc, electric motor with the commonwhich introduced a full-scale online place 204-hp, 2.1-litre diesel-turbo shopping site. engine, as used in the regular E250 CDI. With average fuel economy Kudatara Nagaviroj, Big C’s director of 23 kilometres per litre, the E300 of corporate affair, said Big C On- will be the most economical car in line Shopping is aimed at respond- its class _ beating today’s champion, ing to today’s digital consumer life- the BMW 520d, and its rating of 19 styles. More and more customers km per litre. are making online purchases via their computers or smartphones, he Executives of Mercedes-Benz said. Company research found new- (Thailand) confirmed the Thai hygeneration customers have limited brid plan but refused to say when time and want a convenient, reliable the first car will go on sale. They and cost-efficient way to shop. stressed that from now on, the British and Thai markets will get new Initially, the Big C Mobile Shopping models at the same time. The E300 app will run on the iOS and An- hits Britain next month, according droid operating systems, which to- to media reports. gether have 13 million users in the...

Full story at http://goo.gl/3P6vO Due to the 10% excise tax in Thailand for hybrid-powered vehicles Sala plans major (not over 3,000cc), Mercedes will Thailand expansion likely price the E300 at...

Sala Resorts & Spas has announced Full story at http://goo.gl/8uZlS a major expansion in Thailand that will see it double its portfolio. The No longer a luxury hotel company, which cur- one-horse race rently operates resorts in Phuket, AirAsia is among the most profitable Koh Samui and Khao Yai, will add a low-cost carriers in the world and in further three properties in the next the past decade it has expanded like

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no other budget airline in Asia. Its flamboyant boss, Tony Fernandes, is constantly on the lookout for more ventures, to expand routes and destinations.

of Tokyo. Hong Kong topped the Index as the most attractive city for international travel shoppers in Asia-Pacific.

The rankings are based on five categories covering shops, affordability, convenience, hotels & transport and culture & climate. Global Blue developed the Globe Shopper Index as an essential planning tool for all international travel shoppers searching for their next shopping destination in Europe and Asia-Pacific. Global Blue’s expanded Globe Shopper Index adds 25 Asia-Pacific cities to the existing 33 European cities and ranks them on the expeAcross the South China Sea, Lion rience they provide to international Air boss Rusdi Kirana is also count- travel shoppers. ing on Asia’s growth to fuel his airline’s expansion. Lion controls about Bangkok’s good performance was 45% of the domestic air travel mar- driven by its score in the Affordket in Indonesia, which accounts for ability category, where it came first nearly half of the 600 million people for the low price of two- and fourin Asean. The Indonesian market is star hotels. In this category Bangalso a market that Mr Fernandes is kok also scored well for its reasoneyeing. Lion has 100 aircraft in op- ably priced restaurants and bars. eration and 382 new Boeing aircraft The city’s ranking was boosted by on order. It will begin its long-haul the wide availability international unit, Batik Air in March next year. brands in its stores and long sales seasons. However, Bangkok was But Malaysia has also been on Mr pushed down the rankings due to Rusdi’s radar screen for a while now. its poor performance in the Hotels...

That is part of his regional expan- Full story at http://goo.gl/pUvk6 sion plan and after two failed bids earlier, he has managed to wrap up a Stamford prepares deal with Malaysia’s National Aero- for AEC, plans space and Defence Industries to set new campuses up Malindo Air, a 51:49 partnership between Nadi and his PT Lion Stamford International University Grup. Starting in May next year, plans to establish two new camMalindo Airways will rival AirAsia puses in Bangkok by 2017 to cash in on its home ground, and it follows on the expected increase in demand Mr Fernandes’s decision to relocate from local and overseas students afhis main base to Jakarta in June to... ter the AEC takes effect in 2015. As Full story at http://goo.gl/gvlHl part of this expansion plan, Stamford has invested Bt260 million in Bangkok ranked a new building in Bangkok near the 7th in Asia Pacific existing one. It will also offer new international programmes. The new shopper index six-storey building will almost douBangkok came seventh in the Globe ble student capacity to 3,000 from Shopper Index (Asia Pacific), a few 1,600 now. Under an open-ended... points behind Sydney and ahead Full story at http://goo.gl/DF0xQ South Korea is its next target market for a joint venture, though a market such as Vietnam cannot be overlooked despite an earlier failed attempt. India and China remain on Mr Fernandes’s radar screen, but entry into these markets may take some time. To Mr Fernandes, Asia offers great growth potential and he has ordered 375 Airbus aircraft to drive that growth.

8

BANGKOK BUSINESS BRIEF

Briefs Tourism

http://goo.gl/fxE4d

Airport revival boon to hotels The return of Thai AirAsia, the country’s biggest low-cost carrier, to Don Mueang International Airport is expected to be a shot in the arm for nearby businesses, especially three-star hotels, which could enjoy a windfall from foreign travellers connecting to flights at Bangkok’s old airport.

Businesspeople agree that maximising the use of Terminal 1 at the airport will revive the area’s economy, as visitors will need services from accommodation to food and beverages. Thai AirAsia operates more than 160 flights per day and expects to carry 8 million passengers annually.

www.bangkokbusinessbrief.com

Mid-November/Mid-December 2012

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

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

Full story at http://goo.gl/bH6PF

goo.gl/bH6PF

be named and who runs the Phranakhon Grand View Hotel, part of Phranakhon Rajabhat University, welcomed the move. Three- and four-star hotels near the airport will be prime beneficiaries, he said. The 54-room hotel he manages received more calls for information before Monday. Now, the hotel welcomes foreign guests, especially from Japan, who connect to low-cost flights from Don Mueang to northern cities such as Mae Sot and...

Full story at http://goo.gl/wd1pL

Foreign tourism set to boom during high season

The tourism sector expects a big turnout for foreign arrivals this high season, but domestic tourism will slow due to flood concerns. Piyaman Techapaiboon, president of the Tourism Council of Thailand, said foreign tourists are not worried about flooding, as their main destination is Phuket, with Krabi, Phangnga, Trang and Nakhon Si An academic, who declined to Thammarat also drawing foreigners

web • creative • event and likely to avoid flooding.

“With no heavy rains or floods in Phuket this high season, tourism The TCT forecasts arrivals from should boom and fully recover,”...

Europe will increase slightly this Full story at http://goo.gl/hUalG high season (October-February), although tourist numbers from Ger- Marriott expanding many will remain static due to the footprint in Asia ongoing European economic crisis. Marriott International announced Arrivals from China should offer a yesterday that it expected to more boost to tourism business in Phuket than double the size of its portfolio and Bangkok, offsetting any slow- in the Asia-Pacific region in the next few years. With 132 hotels open in down from the European crisis.

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BANGKOK BU SINESS BRIEF

Briefs

www.bangkokbusinessbrief.com

December 20 11

General Inte

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

Jones Lang LaSalle Hotels (JLL) is tipping Thailand and Indonesia to be the next hot hotel investment markets in the Asia Pacific region.

The company, which specialises in hospitality real estate investment services, said the two Southeast Asian countries, along with the Maldives, offered the most potential to international hotel property investors.

“We are seeing fantastic potential coming out of Thailand, Indonesia and the Maldives, backed by rising revPAR (revenue per available room), healthy investor interest and solid travel demand,” said Tom Oakden, the company’s Executive Vice President of Investment Sales.

“While hotel transactions in Asia and globally have slowed in the last year, investor sentiment remains...

Full story at http://goo.gl/PX3pE

the story into

code at the en d your browser: of

...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

9

goo.gl/bH6P

F liam Shakespe are Nature and life in JuliusCaesar. 1997-98 was a blessing are cyclical _ , as the mains the impact of 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, http://goo.gl/o ” Azman In Caught up in da moon, the tides. Mokhtar, zbNM India, China the managing ily details, we eas 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 rest

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Asia today and a pipeline of signed Hotelbeds plans and approved deals now totalling major Asian an additional 143 properties, the company expects to grow to at least expansion 265 hotels by 2016, with more than Hotelbeds, the accommodation 80,000 rooms in 16 countries. wholesaler, has unveiled plans to grow the brand in Asian in the next Simon Cooper, Marriott Interna- few years. Speaking at the ITB Asia tional’s president and managing travel trade show in Singapore, Hodirector in Asia, said the company telbeds’ Managing Director, Carwas delighted with its growth in the los Munoz, said the company was region and believed it was a great planning to double its Asian hotel testament to the popularity of its portfolio in the next five years, with brands. The company expects to particular focus on Singapore, Thailaunching new brands in the region land, Indonesia, Malaysia, Hong soon, with the introduction of Fair- Kong and Japan. field by Marriott in India next year and its Edition brand in Bangkok “We have built leading positions in in 2014. Marriott International cur- Europe and across the Americas for rently operates eight brands in Asia Hotelbeds. MEAPAC (Middle East and the Pacific: Bulgari Hotels & and Asia Pacific) is where we see the Resorts, Ritz-Carlton, JW Marriott, greatest opportunities. It is now the Renaissance Hotels & Resorts, Mar- fastest growing area of our business riott Hotels & Resorts, Courtyard by and an area we are very excited to be Marriott, Marriott Executive Apart- developing and investing in,” Muments and the recently launched noz said.

Autograph Collection of hotels that debuted in Asia this month with the Hotelbeds currently has 21 offices opening of The Stones Legian in and employs about 750 people Bali. across Asia and the Middle East, and revealed that it plans to expand The company witnessed the dou- its regional workforce by 25% by bling of membership in Marriott 2015. “Our local and source marRewards, its award-winning loyalty ket teams, working closely with our programme, in Asia last year. Mar- customers and suppliers, have... riott Rewards grew to more than a Full story at http://goo.gl/LpqrY million members in China alone...

Full story at http://goo.gl/9WmCN W Hotels launches

Thailand, Indonesia tipped as hot hotel markets

To read th

e full article of a story brief 2012 BANGKOK BUSINESS BRIEF Mid-November/Mid-December enter the shor , t

“We are here because Bangkok is energetic and charming. We can match a mysterious Thai beauty with a modern and fashionable lifestyle at W Bangkok. I am sure it will become a new hangout for...

Full story at http://goo.gl/QR5lJ

ATTA raises member arrival projection to 3 million

The Association of Thai Travel Agents (ATTA) forecasts the number of international tourists arriving through its members will rise 10% to 3 million this year, up from an earlier projection of 7-8%. The momentum of tourism recovery will continue and arrivals are projected to grow by 7-10% next year, said ATTA president Sisdivachr Cheewarattanaporn.

As of Monday, total tourist arrivals through ATTA members increased by 9.68% to 2.66 million.

The top five source countries were China with 739,929 travellers, Russia (308,372), India (195,104), Japan (153,571) and Vietnam (146,430).

“Emerging markets have showed a positive trend. These markets will be important to boost tourism revenue to reach 2 trillion baht by 2015,” said Mr Sisdivachr.

mand from the government and the private sector will continue at the rate of 15% and 8%, respectively.

CMO estimates the private sector will account for half the market before long. This year, CMO projects revenue from the management of 11 museum projects at...

Full story at http://goo.gl/Sc9Ci

Middle-class drives regional tourism

Despite the economic uncertainties in Europe, Asia’s travel business leaders revealed that tourism investors are continuing to spend their budgets on the travel industry to cash in on the economic boom driven by middle-class tourists in the Asia-Pacific region, particularly from China, India and Indonesia.

Richard Helfer, chairman of RCH International, told the Tourism Destination Investment Conference Asia that last year 21 per cent of total global tourism spending came from Asia-Oceania countries. “We expect this to rise to 30 per cent next year,” he said. In view of this trend, investment in tourism infrastructure across the region would grow with full support from the public sector at different scales nationally, regionally and internationally, from large investment to small boutique hotels, said Helfer.

The new direction of tourism in this The ATTA plans to set up a website region will meet the new customer... for travel package booking to serve Full story at http://goo.gl/4j84e fast-growing technology and changes in customer behaviour. This will As rivals gain, Thai Asian expansion be in line with major promotion tourism cries out for in Bangkok campaigns by the Tourism Author- distinct image W Hotels Worldwide, the luxury ity of Thailand, which is focusing... hotel brand under Starwood Hotels Full story at http://goo.gl/5fHld Thailand should have a clear camand Resorts Worldwide, is looking paign to promote tourism and disto expand its hotel operation in Asia CMO Group tinguish itself from neighbouring in the next three years. “Asia is very sees potential countries, says the Association of attractive for us, as the region’s econ- in museums Thai Tourism Marketing (ATTM). omy is booming. Many people are President Mingkwan Metmowlee heading here, and there are many CMO Group, an event organiser, said Indonesia and Cambodia are vibrant, incredible and beautiful cit- sees potential in the museum busi- gaining popularity with European ies, which are the targets for W Ho- ness and expects to generate 120 travellers. The governments of both tels,” said Arnaud Champenois, the million baht in revenue from this countries have supported the tourbrand director for W Hotels and Le segment next year. Chief executive ism industry, and the private sector Meridien in Asia-Pacific.

Sermkhun Kunawong said both the also cooperates with state policies. government and private business The US-based hospitality chain are driving growth in the museum At present, the average package tour plans at least 10 new hotels. After W sector. in Indonesia is attractive at 700-800 Bangkok opens its doors on Sathon (27,800 to 31,700 baht) for 12 days Road on Dec 7, other hotels will be Many now see museums as an ef- and nine nights compared with launched in Beijing, Shanghai and fective medium for promoting local 1,200 in Thailand. Cambodia feaGuangzhou in China; New Delhi wisdom, science, medical develop- tures untamed nature and an unand Mumbai in India; Kuala Lum- ment, transportation and educa- seen culture. Though Thailand is a pur in Malaysia; Jakarta in Indone- tion. At present, there are about 100 popular hospitality destination for sia; and Macau. The region has sev- museums in Thailand, more than Westerners, it lacks cooperation been W hotels, in Seoul, Taipei, Hong half of them state-run. tween tourism groups. ConsequentKong, Singapore, the Maldives, Bali ly, Thailand must differentiate... and Koh Samui.

Mr Sermkhun said growing de- Full story at http://goo.gl/Vr7sU

10

BANGKOK BUSINESS BRIEF

Briefs IT / Comms

http://goo.gl/VwYn9

True showcases B3,000 3G smartphone Third-ranked mobile operator True Move is gearing up to migrate its existing second-generation (2G) customers to 3G service by offering a smartphone priced below 3,000 baht. The move is aimed at boosting its 3G subscriber base to 4 million by year-end, from 2.5 million, said Adhiruth Thothaveesansuk, the managing director for mobile business at True Corporation.

True is offering the Android-based smartphone Go Live S1 priced at 2,990 baht. The phone features preloaded applications for shopping, travel and photo framing.

The phone offer is considered necessary now that the imminent 3G

www.bangkokbusinessbrief.com

Mid-November/Mid-December 2012

To read the full article of a story brief, enter the short code at the end of the story into your browser: auction is being challenged by Anuparp Thiralarp, the former president of the Thailand Telecommunication Management Academy who has threatened to petition the Administrative Court to suspend the auction. Mr Adhiruth said this year’s budget allocated 1.5 billion baht to...

Full story at http://goo.gl/24yrz

...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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ADDING A NEW DIMENSION TO

Narong Seafood stung by suit

Thai exporters are being warned of possible penalties from using illegal software after Massachusetts fined a family-owned Thai seafood company over unfair trade practices.

“It is a must for Thai exporters to observe the new US Unfair Competition Act banning imports of commodities produced with the use of illegally secured information technology,” said Wiramrudee Mokkhavesa, an attorney at Tilleke & Gibbins International. “Some 39 US states have passed or are preparing to pass UCAs with beefed-up provisions specifically to combat IT piracy.”

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www.kudozonline.com/interactive The laws seek to punish foreign companies that enjoy an unfair cost advantage over American businesses because they use unlicensed software, with the harshest penalties including fines and a ban from exporting to the US market. Massachusetts, Louisiana and Washington already have UCAs specifically directed at piracy. Some European countries are considering similar laws.

Thai lawyers are urging Thai exporters to ensure their software is legal.

Even if the software the companies use has nothing to do with the products or services they sell, they...

Full story at http://goo.gl/rHN1o

Baidu seeks Thai fan base via security

USB Guard and boot manager,” said Mr Kuo. While China’s market is already crowded with similar software, Thailand is an ideal test market for Baidu’s product. Aside from features tailored to the Thai market, the...

Full story at http://goo.gl/s4qX9

TWP introduces eBooks app

The way of learning is changing.

Education is no longer solely about books as advanced technology increasingly supports children’s learning. Interactive features allow interfaces that users can pick and choose to satisfy their learning requirements. Thai Watana Panich Press Co (TWP), an 80-year-old company and one of Thailand’s leading publishers of mainly English-language textbooks, has adjusted its business to cope with the trend by launching an eBooks app for children to learn languages.

Baidu, China’s leading search engine company, yesterday announced the release of Baidu PC Faster 2.0, its security and optimisation software for the Thai market. Just four months have passed since the company introduced the beta version of the ap- Managing director Intira Bunnag plication. said its Bright Kids sub-brand’s application features bilingual eBooks “Our first-generation product has that provide an alternative method been downloaded over 1 million of language learning. The expansion times, used by almost 400,000 users. is part of the company’s ambition to That’s been a very good outcome so modernise and adjust its business to far,” spokesman Kaiser Kuo said. meet changes, she said.

After expansive research of more than 500 Thai internet users, Baidu saw an opportunity in the security market. The company says many people face serious PC security and optimisation problems, and local software options are lacking. “There were some products in anti-virus, but none of them specifically focused on the Thai market, and none of them presenting a one-stop solution including anti-virus protection,

“People everywhere are using gadgets, so this is an application that they can download to help their children with language learning,”...

Full story at http://goo.gl/65hnT

Turn the channel

Only two years after Warrasage Mathaakkaropat started selling products on eBay, he was earning a profit of 10 million baht on the world’s largest consumer-to-con-

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Use the QR Code reader in your smartphone to see all the stories in a certain category. sumer channel. “For a 23-year-old, that amount of money was mindboggling,” said Mr Warrasage, who is now 31.

rest

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

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

goo.gl/bH6P

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 retireme dis e on flo& nt ages, aInvestigations oding high rat Intellectual Property Representations , States and Europ when the United nearly 15 years later, as the guise  stu ios dy of by pensioners to wo multinational age says region’s ers an e financial sec rkncies.

Full story at htt are... d p://goo.gl/S65D6 able to sus tor is now strong and study poor pension take-up, a Th sho tain a certain e conclusion wed.

Pre-employment Screening degree  is contained of shocks from Grow with th a in rep ort the entitled e flow Western Hemi fallout in the The Allianz and Adaptation “Climate Risks of cycles sphere, accord Global Investors in Asian Coast ing sio to a panellist  Polygraphs / Lie Detector Tests Pe nn Me Su al staina gac at a recent As ‘There is a tid ean tracks the bility Index, which Asian ities”, jointly conducted by the conference. e Development Ba relative sustai men, which, tak in the affairs of nk, the Japan nabilcounter ity - Internation of na en tio  Surveillance and surveillance at na the l al Coopera pe flo nsi od leads on to for on systems and in 44 countries tune”, wrote Wi , “There will be more crises the World Bank tion Agency aro un d l- future, an in the in the showed the 2010. world, d the Asian numb er of Greek recrisis in tir Due Diligence ees to pe The report recom ople of working mended a... age re- Full sto ry at http://goo.g l/20yMD  Company Background Checks Sponsored by

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next two years, up from a 16% this year. He said the goal is expected to be achieved, helped by increasing the product range from notebooks, tablets and smartphones to expand A year later he set up a business in the customer base. the jewellery sector, which gained 10 million baht during the first two Strengthening its distribution chanyears, and 100 million during the nels upcountry will also be a key last two years. His aim? To find fast strategy to drive its market share. cash and sit around and play games Mr Pornthep said conventional all day. But life was not as easy as he notebooks still controlled 85% of... had hoped. He ended up 10 million Full story at http://goo.gl/keAcW baht in debt after attempting to expand his business overseas. “That Microsoft partners made me think of what I was really with top IT good at, which is e-commerce. But distributors to back then [when I was 25], there were already 20 books in bookstores penetrate provinces about how to make money on eBay,” Microsoft (Thailand) announced said Mr Warrasage. its “Geo Expansion” strategy, joining with the two largest informaThat was when he started working tion-technology distributors in the on Alibaba.com, a provider of on- country, Synnex and Ingram Micro, line market places facilitating in- aiming to double revenue within the ternational and domestic trade in next 12 months. The move is meant China for small businesses. Now to pave the way for delivering new Alibaba is the top business-to- products from Microsoft, including business (B2B) website in Thailand, Windows Phone 8, Windows 8, and and within two years he was able to Office 365, as well as existing prodpay off his debt. Mr Warrasage, also ucts such as Windows Server 2012 managing director of IBB Interna- and Windows Azure. tional Co, shared his story at a seminar held by the International Trade Birathon Kasemsri Na Ayudhaya, Promotion Department, which last managing director of Microsoft year joined with eight local and in- (Thailand), said Geo Expansion was ternational organisations in a bid to a strategy designed and developed beef up the Thaitrade.com... to target small and medium-sized Full story at http://goo.gl/eCz16 enterprises with the aim to increase SME customers from 20,000 to Asustek aims to 40,000 over the next year. “This is lead Thai notebook the first time Microsoft has concentrated so intently on Thailand. We market by 2014 have assigned five people to work Asustek, the world’s fifth-largest closely with both Synnex (Thailand) personal computer maker, has set and Ingram Micro (Thailand) in five an ambitious plan to overtake Acer’s regions throughout the country,” dominance of the Thai notebook Birathon said. He added that this market by 2014. Taiwanese note- strategy was designed for emerging book giant Acer controls a 30% markets like Thailand. “In the past market share in Thailand, while few years, Microsoft drew only 15 Asus has a 16% share, ranking No.2 per cent of its revenue from... in the Thai market.

Full story at http://goo.gl/3qCQK Sales of notebook computers in Google Thailand Thailand are expected to register pushes mobile 2.2 million units this year, dragging commerce sites the notebook market into negative growth with a contraction of 1% for Google has chosen Thailand as the the first time, thanks to the prolif- first country in Southeast Asia to eration of smartphones and tablets. launch its GoMo campaign to encourage businesses to capitalise on Pornthep Watchara-amnouy, man- the proliferation of smartphone usaging director of Asustek Computer ers. A mobile site will be essential (Thailand), said the company aims to the future success of business, to have at least a 25% share of the said Ariya Banomyong, the head of Thai notebook market within the Google Thailand.

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Thailand has 24 million internet users and 18 million smartphone users, so there is potential for mobile commerce. Google research found four out of five companies’ websites in Thailand failed to serve smartphone platforms.

The GoMo campaign at www. howtogomo.com/th provides tools to evaluate how well a business’s website serves mobile users and a checklist of tools for mobile website developers. Mr Ariya said Google research found 20% of Thais accessing the internet this year were...

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

up from 2% last year.

He foresees huge potential in the sector, especially for smartphones and tablets, thanks to the popularity of mobile applications and social networking sites. “In Japan, online and mobile advertising makes up 17% of the total advertising budget this year, up slightly from 16% last year. Thailand is still in the early stages of growth,” said Dr Supachai.

The most recent marketing activities of large corporations including Advanced Info Service, Thai Airways and Charoen Pokphand Foods use the popular mobile communication application LINE as a channel to...

Full story at http://goo.gl/rO3XV

Large companies toe the LINE by raising mobile ad budgets Winning 3G Upcoming 3G service and the in- bids approved creasing number of smartphone users in Thailand will encourage companies to increase their budgets for marketing and advertising on mobile, with 50% annual growth projected over the next five years, says leading digital advertising agency McFiva (Thailand). Managing director Supachai Parchariyanon said that by the end of this year, online advertising including mobile will reach 3 billion baht or 3% of the total advertising budget in Thailand,

Unfazed by a series of legal challenges, the national broadcasting and telecom watchdog yesterday officially approved the winners of the 2.1-GHz spectrum auction and will hurry to grant licences to the three bid winners. At the same time, the Finance Ministry sent a letter warning the watchdog that its spectrum auction did not comply with the ministry’s e-auction rules and could be deemed as having helping...

Full story at http://goo.gl/49RI6

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Briefs Real Estate

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Hua Hin tourist boom enticing developers Rising tourist arrivals in Hua Hin are attracting retail and residential property developers, although infrastructure development plans for the seaside resort remain sketchy.

Surachet Kongcheep, the senior research manager at Colliers International Thailand, said growth in Hua Hin’s tourist numbers has outstripped Pattaya’s rate.

The Tourism Authority of Thailand said tourist arrivals to Hua Hin totalled 1.61 million last year, up by 49.1% from 1.08 million in 2010.

At the same time, arrivals to Pattaya numbered 7.87 million, up by 13.4% from 6.94 million. Cha-am, just up the coast from Hua Hin, saw arrivals rise 6.79%,from 1.62 million to

www.bangkokbusinessbrief.com

Mid-November/Mid-December 2012

To read the full article of a story brief, enter the short code at the end of the story into your browser: 1.73 million.

...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

DTZ’s comprehensive range of services covers business space, consulting, hospitality management, advice on commercial and residential property acquisitions and disposals, occupier services, project and facility management, property management, residential sales and leasing agency services, retail consultancy and marketing leasing services, valuation of various types of properties and land development.

The government is trying to promote Hua Hin and Cha-am as new beach destinations for foreigners.

Plans include a high-speed train link between Bangkok and Hua Hin. The Special Highway No.8 project will link Nakhon Pathom, Samut Songkhram and Cha-am to reduce congestion on the Phetkasem Highway to the southern provinces. It will start in...

Full story at http://goo.gl/VdKrJ Mr Porameth said the company is now in talks with two condominiDTZ expands into um projects worth a combined 2.5 condos, investment billion baht being built in Bangkok’s Pathumwan district. The projects DTZ Thailand, a property consul- are due to be launched in next year’s tant, is poised to raise its profile first quarter. and expand its business portfolio to cover high-valued condomini- DTZ is also in talks with a Singaporums and property investment apart ean hotel chain, a Thai private fund from retail. “We’re using more Thai and a Malaysian investor looking to connections in lieu of Singaporean acquire four- and five-star hotels in ones as we have done over the past Bangkok, Phuket and Pattaya. They 12 years,” said Porameth Chantana- have set a budget of 3 billion baht for komes, the country head of DTZ, a 200-room hotel, he said. “The Sina UGL company, a global leader in gaporean investors are interested... property services.

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

goo.gl/bH6PF

At Real Asset, 8 projects ahead Real Asset Development Co Ltd, has announced eight residential projects worth a combined 7 billion baht to be launched in the next 14 months. Director Sakulthorn Juangroongruangkit said half of them will be in this year’s fourth quarter and the rest spread throughout next year.

The focus will be on two segments _ townhouse/home offices (70% of project values) and condominiums (30%). “Single houses are not our expertise, and condominiums are quite risky,” Mr Sakulthorn said.

Most of the projects will be located on or near Bang Na-Trat, Ram Intra and Vacharapol roads in eastern Bangkok, while the condominiums will be close to existing mass transit lines. “We’re seeing a condo oversupply in locations not close to mass transit,” he said. Among the eight new projects, only one will be a...

Full story at http://goo.gl/5eLgc

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BANGKOK BUSINESS BRIEF Mid-November/Mid-December 2012 General Inte

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

Suvarnabhumi remains prime trading location Locations near Suvarnabhumi airport are expected to become more attractive over the next three years, mainly among import-export and logistics providers, once Asean integration takes place. Visit Kittiudom, president of the medium-sized developer Rungkit Real Estate Co, said prospects for areas near the airport remain promising despite significant increases in land prices. Current prices for a large plot on the main road are 6.5 to 7.5 million baht per rai, up from 4 million last year.

rest

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

The limited amount of land available in Penang, Malaysia is driving a local property developer and his colleagues to seek opportunities in other Asean countries, particularly Thailand, Myanmar and Laos.

Steven Ong, a director and shareholder of AEC Property Development, said land in Penang was fully developed and he had decided to seek more opportunities elsewhere.

He views Thailand as a good centre from which to expand, especially to Myanmar, which is embarking on a new era of economic development.

Six individual developers from Malaysia and one from Thailand, Thanongsak Hutanuwat, who has connections with local investors in Myanmar, have formed AEC to invest in the property business in Thailand, Myanmar and Laos. “We expect to have the first project in Myanmar within the next six to 12 months. It might be a small-scale

goo.gl/bH6P

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

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project with investment size of not over US$100 million,” said Mr Ong.

He said the reasons for entering the property markets in Thailand and Myanmar were different, given their vastly different levels of economic development. In Thailand, he and his partners first explored an...

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

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BLAND goes all out for Muang Thong Thani

The listed developer Bangkok Land Plc vows to become more aggressive in the property sector, planning to spend 2 billion baht to develop new projects at Muang Thong Thani and sell 600 rai on Srinakarin Road worth 7.2 billion baht. Chairman Anant Kanjanapas said the company also aims to invest 600 million baht to develop a mass transit system at Muang Thong Thani linking with the MRT Pink Line (Khae RaiPak Kret and Min Buri).

Import-export, logistics and insurance businesses are the main buyers of home offices in locations near Suvarnabhumi, with Chinese, South Korean, Japanese and Taiwanese buyers looking for housing units in the locale. “When the Asean Economic Community is implemented in 2015, these locations will attract Bangkok Land’s aggressive stance greater demand from traders,” said comes after the company achieved a Mr Visit. deal to buy back 44.82% of shares in Impact Exhibition Management Co Rungkit itself stepped into locations from South East Asia Opportunities near Suvarnabhumi a decade ago, Fund Ltd for 2.7 billion baht. Five developing 24 housing projects. The years ago, the fund bought the same company plans to expand new... amount of shares in Impact ExhibiFull story at http://goo.gl/dyYAf tion Management for 7 billion baht.

“Despite selling at a loss, the fund Malaysian wants to sell the shares back to us,... developers look Full story at http://goo.gl/WXNah

beyond home turf

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

Industrial estate boom to continue

The Industrial Estate Authority of Thailand expects a good year in fiscal 2013 as land sales and rentals in the first 11 months of fiscal 2012 surged well past the full-year target.

The authority’s target was 2,500 rai for the 2012 fiscal year, but rentals and sales totalled 3,843 rai (615 hectares) in just 11 months, up 4.4 per cent from the same period a year before, said IEAT governor Verapong Chaiperm.

Of the total, 3,806 rai belonged to industrial estates and 37 rai to the IEAT. About 195 operators bought or rented the land. Of these, 40 per cent were Thai, 30 per cent Japanese, 15 per cent Chinese, 5 per cent American, 5 per cent Australian and 3 per cent South Korean. Of total operations buying or renting land, 73.3 per cent, or 143 operations, were in the automotive industry, 20

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per cent, or 39 operations, were in steel and other metal products, and 1.5 per cent, or three operations, were in rubber and plastic. One operation was in electrical appliances and electronics, Verapong said.

IEAT has set the fiscal 2013 target for industrial estates’ land sales and rent to be no less than 3,800...

Full story at http://goo.gl/4pQ3a

Renovate, don’t build Energy-efficient buildings are not exclusive to new developments. Old office buildings can be renovated to become green buildings as long as

the owners are genuinely committed to it. The latest LEED Platinum award for Existing Buildings Operations and Maintenance provided proof of that, as it was given to Siam Cement Group, Thailand’s top industrial conglomerate, for the renovation of its three-decade-old office.

SCG spent 110 million baht over 18 months to make its buildings environmentally friendly at its headquarters in Bang Sue. It is the first company in Asean to receive the award, which is the highest level of recognition for green construction certified by the US-based Green...

Full story at http://goo.gl/eTvu2

2

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BANGKOK BUSINESS BRIEF

BANGKOK BU SINESS BRIEF

Briefs

December 20 11

www.bangkokbusinessbrief.com

Mid-November/Mid-December 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 a 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 was 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 s tain a cer of shocks from the ta Grow with th fallo e fl ow We ste rn Hemisphere, of cycles to a panellist at a rece ‘There is a tid con ference. e men, which, tak in the affairs of leads on to for en at the flood, “There wi ll be more cris tune”, wrote Wi l- future, an d the Asian Sponsored by ...

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2012 AMCHAM/FedEx Career Camp Prepares Students For Professional Life

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• Career and personal development seminars at the AIA Training Center; • Site visits at AMCHAM member companies; • A Career Night panel discussion; • Mock job interviews conducted by HR professionals from AMCHAM member companies.

• A social bowling night

In 2012, the AMCHAM Thailand Charitable Foundation (ATCF) awarded scholarships to 150 Thai students who demonstrated academic excellence and financial need. The students came from 17 universities located throughout Thailand, including Mae Fah Laung University, Khon Kaen University and Wailailuk University.

The program concluded at AMCHAM’s Membership Luncheon, held at the Imperial Queen’s Park Hotel, where each student joined members for A hallmark of the program, the AMCHAM/FedEx Career Camp, helps lunch and were recognized for their accomplishments. prepare final year recipients for graduation to the professional world by providing the students a four-day career preparation program in Bangkok. AMCHAM thanks FedEx and all companies who supported the 2012 This year, 41 students participated in the professional education program. Career Camp.

Over the course of four days, from October 14-17, students attended morning to evening career preparation sessions and social activities, including:

Ambassador’s Coffee Briefing On the morning of October 5, U.S. Ambassador Kristie Kenney opened her lovely and historic official residence to AMCHAM company designates and U.S. Embassy officers.

Career Camp Students with ATCF committee chair Jonathan Frazer, FedEx Managing

The “Coffee Briefing” is a regular AMCHAM event that provides AMDirector Dave Carden and AMCHAM Executive Director Judy Benn CHAM members and Embassy officers the opportunity to network and share information. Ambassador Kenney was joined by lead officers 2013-2014 Board Of Governors Elections from the U.S. agencies and Embassy sections stationed in Bangkok.

At the October 17 Monthly Membership Luncheon and General Elections, the following members were elected to the 2013-2014 Board of AMCHAM thanks Ambassador Kenney for her hospitality and looks Governors: forward to the next Coffee Briefing. Also, AMCHAM thanks Coffee- • Martin Apfel, President, General Motors Works for providing the gourmet coffee that helped make the event a • Pierre Breber, Managing Director, Chevron great success.

• Darren Buckley, Country Head, Citibank • Milind Pant, Managing Director, Yum Restaurants • David Nardone, CEO, Hemaraj & Development • Jane Purananada, General Manager, Dej-Udom & Associates • Janice Van Ekeren, Chief Financial Officer, Bank of Ayudhya The recently elected Board Governors members will join the following Governors serving their 2012-2013 terms: • John Atanas, Managing Director, Esso • Matt Bradley, President, ASEAN, Ford Motor Company • Mike Diamente, Managing Director, Dana Spicer • Doug Harter de Weese, Managing Director, Vektor Telematics • Pornlert Lattanan, MD, Government & Commercial, General Electric • David Lyman, Chairman & Chief Values Officer, Tilleke & Gibbins • Jeffrey Nygaard, Vice President, Thailand & Penang Operations • Dee Richmond, General Manager, AgriSource U.S. Embassy Economics Officer Carol Hanlon, AMCHAM Committee Chair Dennis Berkompas, AMCHAM President Joe Mannix and U.S. Consul General Elizabeth Pratt

To rea enter the sto

AMCHAM thanks all members who stood for election.

2

BANGKOK BU SINESS BRIEF

December 20 11

Briefs 15

www.bangkokbusinessbrief.com

Mid-November/Mid-December 2012 BANGKOK BUSINESS BRIEF

The Chambers

General Inte

rest

liam Shakespe are Nature and life ar seasons of the yea the phases of the r http://goo.gl/o Caught up in da m zbNM ily ily forget that Asia stands to the b has cycles, too.

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

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

...

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

http://goo.gl/N47Gg

AustCham Events for Your Calendar in November - December The Convoy for Kids November 2012 Day Out Date: Sunday 25 November Time: 08:00 – departure of trucks and buses from Pakred Cost: Baht 60 – entrance cost to The Institute of Marine Science (free for children) Baht 90 – lunch for adults and children who are not from the charities participating Location: Bang Saen Beach

Foundation for kids in Bangkok and 50 hill tribe children from the Mae Sot area.

For your pledges, please email: Khun Varin at varin@austchamthailand.com David Mills at davidbmbkk@gmail.com

This will be the 13th Convoy for Kids event since the start in the year 2000.

In 2011 CFK had to cancel the event due to the serious floods in Thailand.

In order to give the kids some fun, they organised a fun day on Sunday the 11 March this year at The Sri Sang Wal School to make up for the loss of the normal November event.

Phuket Sundowners Date: Friday 30 November Time: 18:00 – 21:00 (last drinks served at 20.30) Cost: Baht 400 for members Baht 600 for non-chamber members Location: H og’s Breath Café, Patong Promenade Level 3 Shop B 301, 70 Bangla Rd Patong, Kathu

This year CFK will take a total of 300 children to The Bang Saen Institute of Marine Science and then on to Bang Saen beach. As well as 100 children from The Sri Sang Wal School we will be taking 50 kids from Sister Joan’s Klong Toey Slum Project, 40 from The Bang Seu Project, 35 from an AIDS

Phuket Sundowners is a great opportunity to meet local business people and imports from Bangkok in a social and friendly environment. For more information: Please visit www.austchamthailand.com or email varin@austchamthailand.com

Recent Highlight Events

Austcham’s BlueScope AFL Grand Final Day Austcham’s annual Grand Final Day not only delivered another successful event in the true Aussie fashion of cold beer, meat pies and friendly rivalry but this year also gave us a game of drama and suspense.

Has there ever been a gutsier win than Sydney’s 10 point triumph over Hawthorne, a tipped favourite? Needless to say a great day was had by our Australian community here and other interested nationalities that joined the revelry.

Kicking off with breakfast and fine Aussies Sparkling, game day only got better with a charity raffle, prize give aways and that nail-biting win

by Sydney! Some of the fantastic prizes given away on the day included sports memorabilia, spa treatments, luxury accommodation vouchers, and many many more including our major prize of 2 tickets to Australia generously donated by Singapore Airlines.

A memorable day was had by all guests and our thanks and appreciation must once again go to AFL AustCham Director, Sam Mizzi for coordinating another enjoyable day as well as our event supporters for their contributors: Lady Pie, ASIAN Tigers Mobility, The Coffee Club and Berlitz.

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BANGKOK BUSINESS BRIEF

BANGKOK BU SINESS BRIEF

Briefs

December 20 11

www.bangkokbusinessbrief.com

Mid-November/Mid-December 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

ABOUT Established since 1946, British Chamber of Commerce Thailand (BCCT) currently has a membership of approximately 600, with nearly 3,000 named representatives covering a broad cross-section of business interests in Thailand.

The BCCT is one of the most active foreign chambers in Thailand, holding close to 100 events throughout the year. These range from special lectures, presentations and panel discussions with guests from the Thai and UK government representatives, and the business sectors. Networking evenings are held monthly in Bangkok and the Eastern Seaboard.

BCCT aims to foster partnerships and strengthen ties between Thailand and the UK. Activities are dedicated to building networks, connecting business and creating opportunities for members. Our focus is on serving the needs and facilitating opportunities for our members. The BCCT has a seat on the Board of Trade of Thailand and is active in representing members’ interests.

Membership is open to companies and individuals of all nationalities.

ACTIVITIES/SERVICES BCCT Website: www.bccthai.com The BCCT website is the major communications vehicle for the BCCT. Members can find the latest business reports, access to comprehensive list of contacts of the BCCT members list, news and special members benefits offered by other members, amongst other useful information collected in one site.

Networking Opportunities Networking Evenings are held once a month in Bangkok and the Eastern Seaboard. Events are also held in Chiang Mai and Phuket throughout the year. Networking events are open to members and non-members thus widening the networking base for BCCT members and providing public relations exposure.

Business Presentations A number of special interest topics are presented by experts either over breakfast briefings, luncheons, or evening panel discussions. Guest speakers have included Prime Ministers of Thailand, key government ministers from Thailand and the UK, British Ambassadors to Thailand, senior officials or senior executives from Thailand and the UK. Training workshops Workshops on key business and management skills for junior and mid level are conducted several times a year. Workshops are conducted in Thai and adopt a participative approach. They range from half day to three days.

Business Introductions/Referrals Members can utilise the experience and knowledge of BCCT executive office staff to facilitate direct business introductions to other member companies, for face-to-face meetings with visitors from overseas, etc. The Executive Director also meets businessmen during his visits to the UK. Charities The BCCT also supports a wide range of children’s and educationbased charities in Thailand. The Chamber works closely with the British Community in Thailand Foundation for the Needy (BCTFN), which organises the Annual Ploenchit Fair.

Sports & Social The BCCT organises annual football tournament and occasional golf events. The Annual Christmas Luncheon is the BCCT’s major social event with approximately 700 guests consisting of members, their friends, families and business associates coming together to celebrate the festive season.

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http://goo.gl/Vav3Q corporates 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 Office Hours www.bccthai.com or like us on Open weekdays from 8.30 am – Facebook ‘British Chamber of 5.30 pm, the BCCT office also in- Commerce Thailand’.

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18

BANGKOK BUSINESS BRIEF

BANGKOK BU SINESS BRIEF

Briefs

December 20 11

www.bangkokbusinessbrief.com

Mid-November/Mid-December 2012

The Chambers

General Inte

rest

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 Sponsored by

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

...

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

Japanese CC (JCC) 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 Email: admin@mtcc.or.th

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

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

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

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

Thai-Chinese CC (Thai-CC) 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

Thai-Pakistan CC (TPCC) 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: http://goo.gl/Z1VOd Contact: http://goo.gl/OKPmC

Franco-Thai CC (FTCC) 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

Netherlands-Thai CC (NTCC) 15 Soi Tonson, Ploenchit Road Lumpini, Pathumwan, Bangkok 10330 Tel: +66 (0)2 309 5250 Website: www.ntccthailand.org Email: info@ntccthailand.org

Thai-Finnish CC (TFCC) C/O 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

Thai-Russian CC (TRCC) 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 Email: admin@trcc.or.th

German-Thai CC (GTCC) 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

New Zealand Thai CC (NZTCC) 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 Email: director@nztcc.org

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 Email: thai-hongkong@thta.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 Email: contact@swecham.com

India-Thai CC (ITCC) 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

Singapore-Thai CC (STCC) 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: http://goo.gl/WrTpX Contact: http://goo.gl/L727M

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 Email: ticc@thaisraelcc.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

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

South African-Thai CC (SATCC) 10/143 (1503A), 15th Fl, 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

Thai-Italian CC (TICC) 1126/2 Vanit II Bldg, 16th Fl, 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

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

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

Swiss Thai CC (STCC) Bangkok Business Centre Building, 18th Floor, Unit 1802 #29, Sukhumvit 63 Road, Bangkok 10110 Tel: +66 (0)2 714-4177 Fax: +66 (0)2 714-4179 Website: www.swissthai.com Email: info@swissthai.com

Bangkok Business Brief is offering a new service

to promote your business in a unique way – video interviews on our website’s homepage for a month. Advertorial videos not welcome here!

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19

Asia. That’s why things are booming here. I was just down in Singapore, cycle where we take the opposite view of our fathers. and I didn’t see one shop that was vacant. You can’t say that about the Philadelphia area, that’s for sure.

BBB: For our fathers, there was a housing boom in the 1950s. Now, correlate that to Asia, where a housing boom is just beginning.

I liked history. I understood what was available. I thought, “Gee I could put together the monetary system and see what happened.” Rome collapsed, MA: Yes, 1997 was the first push out. Then you had the Asian currency everybody knew about that, but how fast? When I actually starting put- crisis. But it built it’s base. You look at the charts and the currency has been ting the database together, I saw that it wasn’t a 1,000-year decline; it was a coming back. There’s a much more stable base now than it was back then.

13-year drop. Boom! It was fast. I did Venice and Byzantine, they were all China still has some of the same problems too, like the early volatility. But very rapid. When China hit 1989 and then the Berlin Wall falls six months longer term, the financial wherewithal is coming this way. later, everyone said it was because of communications. No. That’s the way it’s always been. Rome overthrew it’s tyrants in 509 BC, and in less than a As far as the legal system is concerned, you’re starting to see a little bit of it year, Athens is creating a democracy and overthrowing its tyrants. It’s the in Singapore, where they’re kind of anti-foreigner. They think outside the same thing. These things spread very rapidly. You didn’t need phone lines box a little bit more than in the West, which I think is good. to go from Rome to Athens. You could take a ship in a few days. It was good enough.

The cycle is generally about 50-some years. It’s an anomaly that people don’t understand. When an economy is actually collapsing, people need money, But when you put all this stuff together, which is what my background en- so then they bring back their foreign investments back. And as they do, abled me to do, I knew that the data could be extracted from it. What was currency actually rises. The peak of the U.S. dollar comes at the low in 1932. interesting is you begin to see that as empires rise and fall, the financial You would think it should go the opposite way. It feeds it in. As the yen goes capital of the world moves. up to record highs, it reduces exports, increases unemployment, so it’s actually part of the cycle of the ‘final low.’

BBB: How does that fit into your Pi theory, the 8.6-year cycle? How far back can you extrapolate that?

It’s the same way central banks don’t understand interest rates: “We’ll take them to zero, maybe then somebody will borrow.” Well, you’ve wiped out MA: All the way back. I’m putting out a book – it declines even in the late all the elderly, there’s no way you can earn anything from savings and evenRoman/Byzantine period, 52-year decline, and then it reverses. The timing tually what happens is people see 7% dividends versus 0.5% in a bank and of it has been universal. Everything is incorporated in war, weather, a lot of they begin to move into the equities, as what happened in 1925. Taking it is natural functions. People misinterpret... they think a ‘cycle’ means it’s interest rates to zero isn’t going to get people to borrow unless they see an predetermined. It’s not. Each of us has our own cycle of learning when we’re opportunity. young, you’re the guy that’s buying high and selling low, then we get older and we become the guy who sells high. I think maybe it’s a generational The only concern with the ‘carry trades’ is the question of sovereign debt.

All southern Europe is a concern. The attitude is that “if the Euro cracks, we’ll have the Deutsch Mark.” But I think the elections [in Germany] will be interesting.

BBB: Let’s go back to Asia, specifically Thailand. How much experience do you have in Asia and Thailand personally?

MA: We haven’t done a lot of business in this particular area. Singapore, and we had an office in Hong Kong for years, and China. China is substantially different than a lot of people realize. When the Asian currency crisis hit, I was invited there. At first, I was expecting the same bureaucratic nonsense, and I wasn’t really sure why they were calling me rather than a pure academic. When I got here and I met the central banker and the guys came into the room, I found it very unusual – they were all traders. They had sent people out working on all the desks in Tokyo, London, and then they came back to run the bank. Whereas you meet the Fed, you’re just meeting with a bunch of Ph.Ds that can’t tie their shows and chew gum at the same time.

At the Bank of China, they only hire people with experience.

Then I understood why they called me. They took me to a building with huge satellite dishes, surrounded by tanks, with 300-400 people surfing the Internet, just pulling down absolutely everything. They wanted me to help them answer questions. They were monitoring 249 varieties of tea. Unlike the Russians, they just actually stood back and watched. And they were dumbfounded by the fact that one tea was trading at one price in this part of the country and another price over here. The Russians would interfere.

Coming out of communism, they were used to one price. So the Chinese wanted me to explain why this was happening.

I think that’s why China has boomed, more so than any other reason. Unlike Japan, because Japan is very bureaucratic. That’s the way Japan is. It’s as if the government is still god. They ask you to do something, you do it.

BBB: Where do you see China in this 40-50 year window?

MA: China is going to become the #1 spot around. Working with the Bank of China was good because I got to see the inner workings, and then I understood. It’s substantially different. It’s very much laissez-faire.

Story continues on Page 20

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BANGKOK BUSINESS BRIEF

Mid-November/Mid-December 2012

The Life of Pi

There is no such thing as “Let’s create a plan, and we’ll all debate it.

BBB: If you follow what’s happen- There’s no Bretton Woods. It’s just ing in Thailand, the leadership “This is what we’re going to do, so here has pushed the minimum do it.” wage up to about US$10 a day, which will affect consumer spend- BBB: Can you touch on how the ing. They have also announced banks seem to get preferential plans to spend a huge amount of treatment from the government money on infrastructure. And when seniors are robbed of their they seem to be targeting the Chi- pension plans to benefit those nese as the dominant tourists here banks? in the near future. But democracy is still a ‘work in progress’ here. MA: Yes, because they basically run Your thoughts? the Fed. Story continued from Page 19.

MA: Well, some say the best form of government is a benevolent dictatorship, don’t they? And I think Singapore has shown that. I worked with the U.S. House Financial Services Committee. It’s terrible. They actually had me writing a plan on how to revise the entire world monetary system.

It’s not all banks. It’s the primary dealers. The primary dealer system in the States is very bad. When the U.S. didn’t have a national debt, then came the Civil War and they went to a guy named Jake Cook out of Philadelphia. He was a big bond guy, they called him the ‘PT Barnum of finance’ back then. They went to him and said, “We need to raise Then they stick it in the drawer be- money, can you sell our bonds?” He cause they know they can’t present said, “Yeah, sure.” And that’s how it a plan to be voted on. They have to started. wait until everything collapses, and then they pull it out, and it’s voted After that, the U.S. government has on like the Patriot Act within 24 always gone to some private banker hours and nobody reads it. It’s man- to sell their bonds. And what’s come agement by crisis now. back to bite them is that when you

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get a crisis like we had in 2007, the say, “We just trust you. Go ahead.” bankers said if you don’t bail us out, It’s crazy. who’s going to sell your bonds? It’s blackmail.

I think the United States has seen its day. If you look at it historically, it’s The other problem is that they low- made all the same mistakes. The Paered the interest rates. Everybody triot Act eliminated the 4th Amendsaid it’s going to be super-inflation- ment, search and seizure, and they ary and it hasn’t been. Why? Because just do whatever they want now. The all they’re doing is paying 0.5% for Supreme Court case, Boyd vs The three years. But then go ask for a U.S., it explains historically how the fully-secured car loan, it’s 4%. The Revolution came about. It was over banks are making a huge amount of the 4th Amendment. John Adams money and they’re not passing it on said there and then that’s how the to the average person on the street. Revolution came about. It’s become George Orwell’s 1984, maybe +10.

Then Goldman-Sachs puts in Ru- It’s all because they’re collapsing. bin, Rubin then got rid of Glass- The more they collapse, the more Steagall, and then they can wheel they try to grab and grab and grab, and deal. They’re no longer banks. and that actually makes them colThey’re trading with other people’s lapse even more. It’s following the money all the time. (These are the same patterns.

New York banks, not the local/regional banks.) It’s really bad.

Part of the reason I’m running all over the world on this trip right That’s why you don’t get any reform. now is because the #1 question from Every time there’s a crisis, they’ll go clients, particularly in the States, is with their hands out: “If you don’t “Where should I go?”, “Where do I bail me out, you’re dead.” The Fed put my money?” stands up and says “Okay, we gotta take care of them.” You give them I’m looking around. I like to kick the US$700 billion and you don’t even tires. The capitalists are coming here put in any details of what they’re to Asia, and these economies are going to do with the money? They booming. –BBB–

Pure Community

Pure Na Jomtien helps build community spirit One criticism often levelled at life in an apartment is that it can be lonely and impersonal. All too frequently the best opportunity to meet your neighbours is a chance encounter in the lift.

Planners of the pure Na Jomtien development were set the twin tasks of providing its residents with the maximum level of peace and privacy while creating an environment in which community spirit could flourish.

They succeeded superbly with the resort-style seafront paradise now being constructed on 33 rai of prime beachfront property at Na Jomtien. While superior construction techniques on the low-rise, low density development create maximum peace and privacy through sound-dampening doublecavity brick walls and canopied, 30cm-thick concrete ceilings, the lush, tropical park in which it is set creates an ideal environment for social interaction.

A central amphitheatre, constructed below a golf practice area with bunkers and putting greens, houses shops in which to browse and a golf simulator facility in which players can hone their skills on some of the world’s top courses. Two swimming pools, a well-equipped gymnasium, a Jacuzzi, steam room and sauna provide further opportunities to get acquainted with each other while the Beach Club with media library, restaurant and cocktail bar are ideal places to sit and chat while watching the sun set over the horizon at the end of the day. Beach lovers can get together to enjoy the pure Na Jomtien’s 120 metres of private beach while youngsters will quickly get to know each other in The Jambo Kids’ Club.

The pure Na Jomtien lifestyle is like no other to be found on the Eastern Seaboard, combining privacy, comfort and a luxurious and stress-free existence with all the opportunities for social interaction normally found only in the finest resorts.

The fully-funded, eco-friendly development is located on prime beachfront property at the end of Sukhumvit Road, Soi 48, in one of the most soughtafter locations on the Eastern Seaboard. All its residences have guaranteed sea views and can be customised to fit the owner’s personal needs, including changing layouts and combining units to create very large ones. Prices start from as little as Bt2.7 million. www.pureNajomtien.com

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BANGKOK BUSINESS BRIEF

www.bangkokbusinessbrief.com

Mid-November/Mid-December 2012

The Calendar

Nov.

Sunday

11

BCCT: Remembrance Day in Kanchanaburi and at British Embassy in Bangkok http://goo.gl/R55n8

18

25

AustCham: The Convoy for Kids Day Out http://goo.gl/Y6eqt

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

goo.gl/6ngBg

Tuesday

Monday

12

AustCham: 2012 Australia-Thailand Business Conference http://goo.gl/jA3Lh AMCHAM: HR / Health /SME http://goo.gl/kS3QK PPi Professional Hour http://goo.gl/QGpcQ

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BCCT/AMCHAM: Breakfast Briefing http://goo.gl/rDb4e http://goo.gl/bX5Cy AMCHAM: ICT Cmte http://goo.gl/r20Kn AMCHAM: Professional Women Cmte http://goo.gl/2Hpt4

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27

AustCham: Conf.

Golf Tournament http://goo.gl/iAWO2 AMCHAM: Health./Travel & Tour: Medical Hub http://goo.gl/Zq8Vf Bangkok Entrepreneurs http://goo.gl/U98Ux AMCHAM: Food & Agri Bus. Cmte http://goo.gl/kXxsb AMCHAM: Legal Cmte http://goo.gl/hqqfr AMCHAM: Travel & Tourism – Global Bus. Travel Outlook Report http://goo.gl/MsZ6g

BCCT: Northern Thailand Networking Evening http://goo.gl/fTZ3P

Dec.

2

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

13

20

AMCHAM: Business Economics Cmte http://goo.gl/8EM54 Bangkok Trader Netwkg http://goo.gl/EnNbR

3 AMCHAM: Joint Food & Agri-Bus/SME/CSR Cmtes http://goo.gl/srWzo

4 AMCHAM: Board & Committee Roundup http://goo.gl/mnLWs

9

10

AMCHAM: ICT Cmte http://goo.gl/8GxM3 AMCHAM: Tax Planning http://goo.gl/MmhNj AMCHAM: HR Cmte http://goo.gl/rxAOX AustCham: Board of Dirs. http://goo.gl/EkoO8

16

17

18

AMCHAM: Legal Cmte http://goo.gl/DQ4Ud

11

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

www.bangkokbusinessbrief.com

Mid-November/Mid-December 2012 BANGKOK BUSINESS BRIEF

23

Send us your event details for the Mid-December/January issue

by December 4th to reid@bangkokbusinessbrief.com Wednesday

Thursday

Friday

14

AMCHAM: Security / OSAC Cmte http://goo.gl/SJTeK AMCHAM: Myanmar Bus. Summit in Yangon http://goo.gl/xq2Gc AMCHAM: Social Networking Night http://goo.gl/hEoyA

21 AMCHAM: CSR Excellence Awards / Monthly Luncheon http://goo.gl/Qeem3

28 BCCT: Evening Presentation (Visas and Work Permits) http://goo.gl/QhzLv

15 BCCT: Board Meeting http://goo.gl/om1rr BCCT: Third Thursday Networking Evening http://goo.gl/tK60a

22

29

BCCT: ½-Day Wkshp http://goo.gl/xeovU AMCHAM: Special Luncheon http://goo.gl/ece35 BCCT: Boardroom Briefing on Indonesia http://goo.gl/qGBr6

6

12

19 AMCHAM: Energy Cmte http://goo.gl/rjAqm

23

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

Ploenchit Fair http://goo.gl/LRdp5 http://goo.gl/nPzg6

1

7

8

14

15

21

22

AMCHAM: Auto Council Committee Meeting http://goo.gl/z0bgb All Chambers: Eastern Seaboard Festive Networking http://goo.gl/UiHFJ

13

20

24

30

AMCHAM: Luncheon mtg with Ambassador Todd http://goo.gl/aBavX AustCham: Phuket Sundowners http://goo.gl/Ow1hL Movers & Shakers Gala http://goo.gl/xOfWr

AMCHAM: Transpo Logistic Cmte http://goo.gl/G8jyq AMCHAM: Professional Women Cmte http://goo.gl/9pzXo AMCHAM: Young Professional Cmte http://goo.gl/80TOA

17 AustCham: Voluntary English Teaching http://goo.gl/nq09x

AMCHAM: Turkey Charitee Golf Tournament http://goo.gl/RLjts Movers & Shakers http://goo.gl/xOfWr

AMCHAM: Festive Holiday Eggnog Party http://goo.gl/sy1cT AMCHAM: SME Cmte http://goo.gl/eOmJX AMCHAM: Monthly Luncheon http://goo.gl/zu1Wn AustCham: Christmas Sundowners http://goo.gl/2NepH

16 Joint Chambers: Eastern Seaboard Networking Event http://goo.gl/0fVnq

AMCHAM: Charitable Foundation Cmte http://goo.gl/nxwuz AMCHAM: Customs & Excise Cmte http://goo.gl/Z5MbX

5

Saturday

BCCT: Xmas Lunch http://goo.gl/7bGsp