Bangkok Business Brief - Volume 2, Issue 10 - Mid-September/October 2013 by Mango Mango Ltd. Part.

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BUSINESS BRIEF

Vol. No. 2, Issue No. 10

Mid-September/October 2013

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The future is now... part one By Noah Percy

It’s now 2013. We are 13 years into the 21st century and well into the so-called Web 2.0 era of technological transformation. The ubiquitous smartphone and other

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

mobile devices, cloud computing and big data have transformed industries (music, publishing, film and TV, etc.), challenged the status quo, and changed the way we communicate and conduct our personal lives. But how is technology affecting our careers and our future job prospects? And how can we prepare for the next ten or twenty years of our professional lives? Over the past fifty years, numerous technologies and devices have improved the efficiency of the office, from fax machines to computers, from beepers to mobile phones to video conferenc-

ing; all have altered the workplace in generally positive ways. For instance, they have allowed people to work from home or anywhere they have access to the Internet, and they’ve spawned movements such as the Results-Oriented Work Environment (or ‘ROWE’) philosophy that have challenged the traditional 9-5 office workplace. But until now, all of these technologies have only changed how we do our work. According to many experts, technology is now changing not just the how, but the what as well. In other words, the nature of work and careers is

evolving and, in many ways, at an increasingly rapid rate. According to Thomas Frey, a futurist and executive director of the DaVinci Institute in the United States, “As a rule of thumb, 60% of the jobs 10 years from now haven’t been invented yet.” While he predicts that current jobs like engineers, nurses, and computer systems analysts will still exist in the future, they will have morphed into something quite different from what they are today. He also say that “as data becomes cheaper, faster, and more pervasive, the Story continues on Page 12

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To read the full article of a story brief, enter the short code at the end of the story into your browser: employers and employees through regular meetings. The law provides for the existence of such a structure under the Labour Relations Act (BE 2518) to ensure... Full story: http://goo.gl/pO36Xh

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

might be retired from his full-time job with the national airline, but he still has many things to do. Currently, he is acting as an adviser to several organisations on energy issues and continues to speak at various events – usually on... Full story: http://goo.gl/QEJVQf

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cycle of time. For example, an operator can learn how to set up machines for the start-up operation or the changeover without facility technicians being present. He can also complete production tasks... Full story: http://goo.gl/6ia8XY

Biz buzz: Piyasvasti The employee committee explained Former Thai Airways International presi- Developing your staff Slow growth in China hits Asia-Pacific air dent Piyasvasti Amranand doesn’t think Many companies have labour unions he’s old, though he turns 60 this year. Many successful business leaders believe freight performance and employee committees, but few fully understand the potential significance or impact of these organisations. Unfortunately, even fewer understand the possible legal ramifications of taking disciplinary action against employee committee members.

When he was 10, he thought people of 30 were old and those of 50 very old. His nanny, whose name was Uthai, he called “Kae”, which means “old” in Thai. Now 60, Piyasvasti says he doesn’t feel old, though he admits that young people would probably see him that way.

Employers may face severe criminal penalties if they violate an employee committee member’s rights, and so it is vital for them to understand these principles before taking any form of disciplinary and/or obstructive action against an employee committee member.

Since retiring as THAI’s president, he has spent much of his time travelling. For the first time in his life, aside from gardening, he swims on a daily basis – even doing more exercise than he did in his days at boarding school. “I have lost 3kg through exercise and feel a lot healthier,” he said triumphantly.

Purpose and composition: The fundamental purpose of the employee committee is to maintain friendly relations and open communication channels between

It sounds like the kind of retirement many would look forward to. However, Piyasvasti doesn’t see himself as a retiree. He

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that enhancing the human capital can help the company reach a higher level of achievement in the long run. One of the most important tasks of the management is to ensure that the company has allocated sufficient resources in building a strong team consisting of highly competent people. In order to reach such goals, the management has to pay attention to people at the development process. Building multi-skilled employees can be another area in human-resource development as it can be beneficial to both frontline and back-end operations. In the production environment, multiskilled labour can help boost productivity and cost effectiveness through a combination of related functions so one person can perform several tasks within a shorter

China’s economic slowdown has dampened air-freight demand throughout Asia and the Pacific as regional carriers’ business volume in June contracted 1.8 per cent year on year, according to the International Air Transport Association. In the first half, volume dropped 2.3 per cent. This is the weakest performance among the regions and reflects the broad impact of the slowing growth of Chinese gross domestic product. There are now fears that China will not achieve its 7.5-percent growth target this year, which may disrupt the global economic recovery. The Thai National Shippers Council forecasts only a 2-per-cent increase in the country’s shipments to China this year. Elsewhere in the world, only airlines in... Full story: http://goo.gl/Xb2gts

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Megaproject benefits ‘mainly long term’ The government’s 2-trillion-baht infrastructure megaprojects will have little immediate effect on stimulating the economy, as the overall benefits will become visible only upon their completion, says a financial analyst. Stephen Hinch, an international client adviser with the MBMG Group, said the projects’ immediate impact is job creation, which is only a small economic stimulus since the overall stimulus is expected once the projects are completed. “When you do stimulus that’s infrastructure-based, you normally get a trailing impact on the economy of 12-15 years,” he said. Mr Hinch cited China as an example of achieving double-digit growth in 15 years from an investment-based economy. Australia’s infrastructure stimuli have not done anything to change the economy at this point. However, he said infrastructure development projects do have the potential to sustain long-term economic growth, given that infrastructure has the capacity to enhance connectivity as planned. The Thai government is pinning its hopes on massive infrastructure... Full story: http://goo.gl/dBXrCs

Drinkers awake to higher tabs Drinkers awoke to higher prices of beer, wine and liquor after the cabinet approved new effective alcohol tax rates. The Excise Department has ordered its officials to be on alert to prevent the smuggling of untaxed alcohol and the hoarding of liquor following the decision. The alcohol tax is broken into two parts – a tax on product value and a tax on alcohol content. If this is your pleasure, your only choice is to pay more or drink less, as alcohol prices are set to rise across the board. The maximum tax for beer will be maintained at 60% of the product’s value, but the effective tax rate per litre of 100% alcohol content rose from 100 baht to 300 baht. The tax hike will drive up beer prices by about 3-7 baht per bottle. For wine, products worth less than 600 baht per bottle will be be exempt from the product valuebased tax, while those priced above 600 baht will be taxed at 36% of the product’s retail value. In terms of alcohol content,... Full story: http://goo.gl/RNwXG5

rest

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

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

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Government / Economy

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HSBC suggests structural reforms

The country needs to improve its education system as it lacks sufficient highquality engineering graduates to raise productivity growth. Infrastructure development is another essential area which needs rapid improvement to facilitate the expansion. Privatisation of state-owned enterprises, meanwhile, can boost productivity and competitiveness.

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Mr Neumann said Thailand should also cut back on some subsidised programmes and use the savings to invest for the country’s future. “The 2-trillionbaht infrastructure development projects are deemed as a type of... Full story: http://goo.gl/Jg6Rzv

VAT fraud probe implicates 18 A Finance Ministry inquiry committee has uncovered 18 ministerial officials suspected of stealing more than 4.3 billion baht from the state through fraudulent tax refunds. Ministry permanent secretary Areepong Phucha-um said the committee’s initial probe findings had concluded several senior officials may be involved in the fraudulent value-added tax refund scam. Of the 18 suspects, four are officials holding positions of senior director and specialists at the C-9 level, while the rest are officials at the operational level. He said the ministry has set up a committee to launch a disciplinary investigation into the four C-9 officials, while the Revenue Department has been assigned to consider action against the other 14. Mr Areepong said the ministry will also expand the investigation to look at whether officials at higher levels are involved in the scam. The investigation will cover the entire Finance Ministry organisation, Mr Areepong said. He said the ministry will also review regulations relating to VAT refund requests by entrepreneurs to try to reduce the risk of fraudulent refunds being paid out. The ministry approved a 2-billion-baht budget last year for the Revenue Department... Full story: http://goo.gl/s0d3FJ

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Thai SMEs rampage up ‘Forbes’ list Eight Thai companies are listed on Forbes Asia’s Best Under a Billion (BUB) list of the top small and medium-sized enterprises in Asia-Pacific this year, up from six last year. The listed firms are Aikchol Hospital, BEC World, Malee Sampran, Master Ad, Premier Marketing, Robinson Department Store, Sahamit Machinery and Workpoint Entertainment. The list comprises 200 leading public companies in Asia-Pacific with annual revenue between US$5 million and $1 billion. Forbes editors select the list from among 15,000 companies based on criteria such as rising financial performance, sufficiently broad and private share ownership, reasonable debt levels and profitability. Companies from China and Hong Kong

To read the full article of a story brief, enter the short code at the end of the story into your browser: dominated the list this year with 63 entries, while Japanese companies rose to 17 from four in recent years. Taiwan had the second-highest number of companies on the list at 26, three more than last year, while India came in third with 19 companies, its lowest level since... Full story: http://goo.gl/2dPVKP

Thai bond market still in good shape for second half of 2013

Although the global financial markets have been facing great volatility, investment in the Thai bond market could still increase steadily in the second half of this year. One of the main boosters was capital inflow, causing it to be more active than in the previous year, not only in terms of higher turnovers but also investment returns. However, whether the Thai bond market’s sentiment in the rest of this year will continue to grow strongly or at least as actively as in the first half of 2013 probably depends on the following four points. The first one is related to the recovery and growth rate of the Thai economy. Gross domestic product grew more

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

slowly than expected in the first half of this year. Among the major reasons were signs of a Chinese economic slowdown, which has already started to affect Thai exporters. China is one of the Thailand’s biggest trading partners, with 12 per cent of all overseas shipments. In addition, spending on a government water-management project has been delayed, as it requires public hearings, according to the Central Administration Court. This may cause the Bank of Thailand to revise the... Full story: http://goo.gl/7mg0xl

KTAM debuts Bt3-billion ICT Tracker fund Krung Thai Asset Management yesterday launched the Bt3-billion KTAM SET ICT ETF Tracker, the first exchange-traded fund to track the Stock Exchange of Thailand’s index for the information and communications technology sector. The fund’s policy is to invest in the stocks of companies that are constituents of the SET ICT Sector Index. The SET ICT Sector Index consists of stocks of ICT businesses that are listed on the Thai exchange. It currently consists of 27 companies. The

goo.gl/bH6PF

index is a market-capitalisation-weighted price index, which contributed to 13.5 per cent of the main SET Index as of June 30. Last year, the SET Index gained 23.87... Full story: http://goo.gl/oOg7yi

PACE stumbles out of the gate in IPO Pace Development Plc had the first dismal initial public offering debut on the local stock market this year following Ananda Development Plc’s flop on the first day of trade in July 2012. The stock started trading at 3.10 baht and stayed below the 3.50-baht IPO mark throughout the day before closing at 2.70 baht, a 22.9% discount from the IPO price, in trade worth 2.38 billion baht. Kongkiat Opaswongkarn, the chief executive of Asia Plus Securities, the financial adviser and lead underwriter of PACE, blamed political uncertainties for the disappointing debut. The House started deliberating the controversial amnesty bill amid protests from anti-government groups. But Mr Kongkiat still believes PACE has a thriving outlook, with the luxury MahaNakorn project expected to... Full story: http://goo.gl/LkI3Bu

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Tyre-maker Bridgestone rolls out technical centre here Japanese tyre-maker Bridgestone has set up its first technical centre in Thailand to respond more quickly to changing customer needs. The centre, which is the company’s first facility of its kind in the Asia-Pacific region excluding Japan and China, will provide technical support across the region. The centre will oversee the functions of tyre development, production technology, quality management, and procurement, and serve as a regional base to enhance safety, environment, product quality and delivery at its Asian plants. Yoshiyuki Morimoto, senior vice president and chief technology officer of Bridgestone, said Bridgestone plans to increase its presence in the Asia-Pacific region by enhancing research and development, expanding its sales network, and increasing its tyre production capacity. The company recently began production of conveyor belts through its subsidiary Bridgestone NCR in... Full story: http://goo.gl/Q6Cqkz

Volvo plant launches Quester Volvo Group, the Swedish manufacturer of buses, trucks and construction equipment, yesterday launched the first heavyduty truck model _ Quester _ made at its assembly plant on Bang Na-Trat Road to capitalise on the growing Asean market. “Quester is the first UD truck developed specially for growth markets, while Volvo’s heavy-duty trucks stay focused on the premium segment,” said Joachim Rosenberg, the group’s executive vicepresident. UD Trucks was known as Nissan Diesel before it became part of Volvo in 2007. Volvo, the sole distributor of Volvo and UD trucks, recently announced a 5-billion-baht investment plan including 3 billion for expanding sales and service outlets. The rest will be used to expand annual production capacity to 4,500 Volvo trucks and 20,000 UD trucks. Thailand is the global production base for Volvo and UD trucks for export, especially those destined for Asean, Africa and the Middle East where demand in each market is rising. Volvo aims to export UD trucks to... Full story: http://goo.gl/U0w1oi

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

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 e, Nissan Motor a gl TheAsia-Pacific robust econo has opened y from obal crises Greece, India, Ch Land subsidence China and em mic growth of ina and ThailanFOR erg cau MORE economies KU ALA LUMPUR new vehiclewitest iningThailand, Nisd wa ll opentrack ter losses tops sed by ground : The Asian cri- are home to the weakest natioINFORMATION a new the list of na pension system Asian economi opportunity for sis in the late 1990s was a s in the world l lems that must be solved in probwa es to inc san’s first overseas R&D vehicle-test fakecal up l rea for cri se Bang, 653 the region that ppled by a mix their kok to wealth from tra 02 1971 mi tig ate ha of s tur the impact of acu de in goods the ser d out to be a blessing in dis ned eign debt, young retire te sover- climate change vices at aregion. cility in the Sta Asean time wh It alsoaninauguon flo me gu tes and Europe en the United nearly 15 years later, as the reg ise high ratios of pensioners nt ages, a study by multinati oding, says are ion on to fin ... al ’s wo an age rkers cia ncies. and poor pe ll story at rated a newFuoffice building the Nissanl sector is no http://goo.gfor l/S65D6 able to sustain a w strong and study showed. nsion take-up, a The con clusion is con certain degree of shocks from Grow Southeast tained in Technical Centre located a rep with the flAsia, ort the entitled ow Western Hemispherefallout in the The Allianz Glob and Adaptation “Climate Risks of cyclWith , according sio al es investment of to aapon the premises. panellist at a n Sustainability Investors Pen- Megacities”, joi in Asian Coastal rec en ntly conducted Ind t ‘There is a tid As ex, ean conference. which Asian De tracks the rel by the e in the affair velop ati men,Bt1.1 of proximately the sexpansion which,billion, ity of nationa ve sustainabil- Internation ment Bank, the Japan taken at the l al pe flo Co nsi od, “There wi leads on to for operation Agenc on systems and in 44 ll tun cou y be more cri e”, wroteNissan’s the World Bank ntries aro of NTCSEA will strengthen Wil- futurecain 2010. , and the As ses in the showed the numb und the world, ian crisis in er of Greek retir ees to people of pabilities in R&D in the region, a key eleworking age re- The report recommended a... Full story at htt p://goo.gl/20yMD ment of the automaker’s growth strategy,

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Production

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Auto giant launches test track

executives said. NTCSEA’s regional scope covers ten countries and six production sites across Southeast Asia. By 2015, NTCSEA will assume responsibility for all R&D processes following the vehicle physical design stage for models marketed in the ASEAN region. By 2016, NTCSEA will more than triple its workforce to 370. This expansion allows it to better reflect the specific preferences of customers in Southeast Asia,... Full story: http://goo.gl/BkSCfF

Schneider Electric to grow solar energy business in Kingdom Schneider Electric, a global specialist in energy management, says it is all set to expand its solar-energy business in Thailand. Schneider aims to deploy more than 100 megawatts of its systems to be operational in large solar power plants in the Kingdom this year alone, and targets two new potential areas – buildings and homes. According to a report from the Ministry of Energy’s Alternative Energy Development and Efficiency Department, Thailand’s geography is suitable for solar photovoltaic energy production because the solar irradiation is high in both its direct and diffuse components. The report pointed out that 14.3 per cent of the overall territory in Thailand received an average of 19-20 megajoules of solar energy per square metre per day, while 50 per cent received an average 18-19 megajoules. When compared with other countries, Thailand ranks high in the list of “sunbelt” countries that have a strong potential to produce electricity from solar power. Marc Lees, Schneider Electric’s head of solar for East Asia, said the company’s move was aligned with the government’s evolving policies on solar energy. “Schneider Electric is currently collaborating with partners to complete solar projects in... Full story: http://goo.gl/OtkJ9d

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Mid-September/October 2013

Briefs Retail/Services

To read the full article of a story brief, enter the short code at the end of the story into your browser: will be on Monday, Wednesday, Friday and Sunday, departing from... Full story: http://goo.gl/n0Xyqt

CP in running for Hong Kong’s Bangkok Airways ParknShop opens Mandalay route supermarket chain http://goo.gl/QyrTE

Bangkok Airways is set to become the third Thai airline to offer regular flights from Bangkok to Mandalay on Sept 15, joining competitors Thai AirAsia and Thai Smile. The privately owned carrier will initially offer four flights per week on the route before ramping up frequencies to daily on Oct 27 to tap stronger demand in the high season, said airline officials. Its entry will intensify the contest for the second-most important route between Thailand and Myanmar after BangkokYangon, which is served frequently by several Thailand-based airlines including Bangkok Airways, TAA, Thai Airways International and other international operators. Bangkok Airways released details of its Mandalay service, which will depart from Bangkok’s Suvarnabhumi airport on a 144-seat Airbus 319 jetliner. The flights

Dhanin Chearavanont, Thailand’s richest man, is moving towards placing another piece in the jigsaw as he grows his retail business regionally, with Charoen Pokphand’s bid for Hong Kong’s ParknShop supermarket chain. Dominating the convenience-store segment in Thailand through CP All, which operates about 8,000 7-Eleven outlets, Dhanin has set his sights on expanding throughout Asia with the ParknShop brand. CP All, Dhanin’s retail arm, in April spent Bt189 billion to take over Thailand’s leading cash-and-carry wholesale business, Siam Makro, which would mainly be used as a new distribution channel to export products from small and mediumsized enterprises as well as agricultural goods, such as fresh and frozen produce, to ASEAN countries. A retail expert who

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

declined to be named said Charoen Pokphand Group’s bid for Hutchison Whampoa’s chain of ParknShop stores would allow CP to have a larger retail network in the region. According to a recent report by Bloomberg, Hutchison, a Hong Kong conglomerate controlled by billionaire... Full story: http://goo.gl/Uz00ji

California Wow founder pleads innocence Eric Levine, the founder of stock exchange-listed California Wow Xperience, has put up a vigorous defence against the Anti-Money Laundering Office’s allegations that he and the directors made fraudulent transfers of the company’s funds overseas. In the first statement since the fitness-centre chain hit financial trouble and later faced the AMLO allegations, Levine said the documents provide full disclosure of the company’s financial transactions, and are accompanied by a letter that categorically denies any wrong-doing by the company or any directors. The company also offers total cooperation for the investigation into its bank accounts and business activities, he said. “I state with absolute certainty and in the strongest, most unequivocal terms that California Wow Xperience operated transparently and that neither I nor any director or staff member ever made any improper or illegal transfers of even a single baht out of the company,” he said. “Even though I have been gravely affected by these public accusations, until now, I chose not to respond. However, I... Full story: http://goo.gl/ycUSwJ

Union Auction predicts used car sales to remain flat

The Thai used-car market is expected to remain oversupplied this year thanks

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to 1.2 million new car owners that applied for the government’s first-time car buyer tax rebate last year. Aekpittaya Lemkongaek, president of Union Auction Plc, Thailand’s leader in car auctions, said new supply in the used-car market is expected to exceed 2 million units at the end of this year. Annual used-car supply is usually one to 1.5 times larger than new car sales. Thailand’s automotive industry enjoyed a bumper year in 2012, with 2.45 million vehicles made, up by 68.3% from 2011, lifting Thailand to 10th among carproducing countries. Thailand’s domestic car sales were forecast to stay around 1.2 million vehicles this year. Depressed demand is also putting pressure on average auction prices this year... Full story: http://goo.gl/xxPIYj

Thai restaurant finds a niche in Mozambique

Despite its distance from Thailand and the small number of Thai people in the country, a Thai woman has opened an authentic Thai restaurant in Maputo, the capital and largest city in Mozambique. Jena Nuangniyom, owner of “InterThai” restaurant, started her business there with between $60,000 to $70,000. Now responsible for almost 20 employees, including Thai chefs and Mozambican waiters, she is very happy with the return on her investment. Jena launched her restaurant business in Maputo only 10 years ago after marrying a local man. When the marriage ended in divorce, she decided to stay on in Mozambique and go into business. With her cooking abilities and passion for authentic Thai cuisine, she has started InterThai restaurant, one of only three Thai restaurants in Maputo. She was also encouraged to open the restaurant by friends, who believed her friendly demeanour and skills as a cook... Full story: http://goo.gl/RDofxS

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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

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TAT banking on new behavioural database

First tourist court to open in Pattaya Thailand’s first tourist court will open in Pattaya as part of the government’s move to reassure travellers of their safety while visiting the country. From 4.30pm to 8.30pm, foreign tourists can come and lodge complaints, especially over unfair services and personal security. Consideration of cases will be cut to one day for uncomplicated disputes from the usual six months, Wirat Chinwinigkul, secretary-general of the Judiciary, said.

which will keep everyone involved

WESTERN AND THAI dishes. So far, the TAT has set up an informationfor the duration of your event. technology system, initially costing Bt5 million, to build up data as part of its social customer-relationship management. Having a strong behavioural database would help the agency to more precisely • LARGE RANGE OF FOOD AND DRINKS target potential visitors from market to • 7 BRUNSWICK POOL TABLES market at a time of fast-changing hab• 2 DARTBOARDS IN A PRIVATE AREA its driven by innovative technology, said Silachai Surai, executive director for the TAT’s Information Technology Office. The move would also help maintain ThaiDream GYM A5_c.pdf 1 27/3/2555 14:17:26 land as a regional tourism destination and achieve its ambition next year to achieve third place in the region in terms of tourism earnings, behind China and Hong Kong. At present, the Kingdom is... Full story: http://goo.gl/31ahp2 SU KH UM

Thailand mulls compulsory travel insurance

The Tourism and Sports Ministry is planning to make it compulsory for all foreign tourists to have travel insurance before entering the Kingdom because unpaid bills are putting a huge strain on cashstrapped public hospitals in major destinations, particularly Phuket. However, some tourism-business operators warn that this measure might keep away travellers as well as tarnish the country’s image. C

In a telephone interview with The Nation, Tourism and Sports Minister Somsak Pureesrisak said the ministry was readying to implement the regulation to cut down on foreign tourists’ unpaid medical bills that cost the country more than Bt200 million annually. CM

The specialised court will encourage negotiations between parties. Most of the cases are about consumer protection, so it is easier to reach a compromise. If it’s a serious issue, the case will be transferred to the regular court. There will be capable officials speaking foreign languages to help. Six more night courts are planned – Pathum Wan district for the Silom area and Dusit district for khao san in Bangkok, Krabi, Samui, Chiang Mai and Phuket. Those tourist destinations have faced various problems, especially cheating by operators. The Pattaya court would be a pilot project. It is expected to take up speedboat services, which is one of... Full story: http://goo.gl/yJF0g2

•

“We will focus our investment in Hua Hin because we believe the seaside resort town will become a true world-class tourist destination like Nice or Cannes,” said Proudpud Liptapanlop, MD of Proud Real Estate. Ongoing infrastructure programmes, including high-speed rail from Bangkok, the Southern Motorway and the arrival of international flights at Hua... Full story: http://goo.gl/B3s0iS

•

HUMVIT

Proud Real Estate Co, owned by the Liptapanlop family, is spending 3-4 billion baht to develop a tourist attraction in Hua Hin. The 35-rai site is near the InterContinental Hua Hin Resort. Of the total investment, 800 million baht is for a 20-rai jungle-themed water park, up to 2 billion for a 400-room, three- or fourstar hotel, and at least 1 billion baht for a residential condo project. The Vana Nava Hua Hin water park began construction in June and will open in the second quarter of 2014. The hotel and condos will be completed in 2016 and 2017 respectively.

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Somsak is discussing the matter with Public Health Minister Pradit Sintavanarong and Deputy Prime Minister Kittiratt Na-Ranong. “They agree that foreign tourists should buy an insurance package, which would cost about Bt500,” he said. This would first be applied to tourists who apply for visa at Thai diplomatic missions overseas. The ministry has yet to... Full story: http://goo.gl/xK0IYS

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Sansiri left foaming at the mouth Three brick-sized pieces of foam, rubbish paper and candy wrappers recently found inside the wall of a condo at The Base Sukhumvit 77 may not physically harm the unit’s owner, but they have already wrecked the developer’s reputation overnight. Kristopher George Houston, owner of the condominium unit developed by Sansiri Plc, found his wall stuffed with foam, paper scraps and candy wrappers when he tried to fix a rainwater leak. This is definitely not the first such case for a housing development in Thailand, but it could serve as a wake-up call for consumers to pay more attention to protect their rights. Mr Houston bought a condo unit in The Base Sukhumvit 77. But once he moved in, he described the continued water leakages during rain as a nightmare. After

To read the full article of a story brief, enter the short code at the end of the story into your browser: Sansiri’s after-sales staff tried unsuccessfully to repair the leaks many times, Mr Houston decided to ask an outside technician to do it. To his surprise, when the technician tore into the wall, Mr Houston saw three pieces of foam, some Ole candy wrappers and brown, wrinkled... Full story: http://goo.gl/UUQRTm

Khao Yai developer looks to Bangkok Bonanza Group, the Khao Yai-based property developer, will tap Bangkok’s housing market with plans to launch two projects on Chaeng Watthana Road. “We’re not worried about the political situation,” said founder Phaivong Taechanarong. “As long as PM Yingluck Shinawatra keeps smiling and compromising, there will be nothing in politics to be worried about.” One of these projects will be called The Sereno by The Bonanza, on a seven-rai site on Chaeng Watthana Soi 15. The 500-million-baht project will comprise 79 three- and 3.5-storey townhouses priced from 5.4 million baht. Construction will start next month for completion in... Full story: http://goo.gl/arzl7P

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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: http://goo.gl/bH6PF

Jomtien gaining popularity with condo buyers About 10,153 condominium units in 20 projects were launched in Pattaya during the first half of this year, which boosted supply by 32.9 per cent from the end of last year to 40,939 units, according to Knight Frank. The Jomtien area gained in popularity with 4,247 units, or 42 per cent of new units, the real-estate consultancy said. This year, condo developers include listed companies SC Asset, Sansiri, Supalai, Quality Houses and NC Housing. “Pattaya has become one of the most desirable seaside locations. It is easily accessible to major destinations in Asia, supported by the government’s infrastructure investments, including the upgrade of U-tapao Airport’s capacity to 5 million passengers per year, as well as the planned high-speed rail link connecting Bangkok to Pattaya, which will help drive traffic to the resort city. “Pattaya has also become an international business hub for the impending ASEAN community, attracting investors from overseas. Also, the number of international and local tourists has been increasing steadily,” the agency said. After Jomtien, the North Pattaya/Wong Amart area attained the second-mostpopular slot, with launches of 3,114 units or about 30 per cent of the total. The area is considered a peaceful area favoured by Thai condo buyers. It is also a... Full story: http://goo.gl/SE3YkJ

City housing market still rising, says DTZ Optimism still prevails in Bangkok’s property market on the back of persistent demand, particularly in the office and condominium sectors, says a report by the property consultant DTZ. The condo market continued to expand in both inner

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and outer areas in the second quarter, albeit at a slower pace than in the previous quarter. The number of new launches in the central business district was estimated at 1,600 units, down from 3,000 in the first quarter and confined largely to lower Sukhumvit Road. The bulk of launch activity was still concentrated in fringe and suburban Bangkok. Active zones included Bang Na district, Phahon Yothin Road, Rama IX Road, Rattanathibet Road and Thon Buri district. On the supply side, gradual extension of new mass transit lines will continue to open up development opportunities for both existing and new players, said the report by DTZ, a unit of Australia’s UGL Ltd. On the demand front, this will support urbanisation and lift home... Full story: http://goo.gl/YiU7U8

Raimon ready to diversify from solid luxury base Raimon Land Plc was listed on the Stock Exchange of Thailand in 1994. Under a new management team since 2002, the company has established a sound track record of successful property development both in Bangkok and the main resort locations of Thailand. CEO Johnson Tan discusses the company’s strategy and outlook. What is Raimon Land’s business model? Raimon Land is currently a property real estate developer focused primarily on the luxury market segment in major urban and resort locations in Thailand. We are currently exploring new revenue streams outside pure property development that will diversify our core business. In the first quarter of 2013, there was a major change in Raimon Land’s shareholders with JS Asset replacing IFA Hotels & Resorts. Why has JS Asset decided to... Full story: http://goo.gl/HZmd1Z

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Acer launches Liquid Z3 in bid to double Thai sales Acer Inc, the world’s fourth-largest PC maker, plans to double its smartphone sales in Thailand next year. The Taiwanese firm has set a goal to become a global top 10 phone maker by 2015, up from 15th currently. Acer chose Thailand for launch of the Liquid Z3 smartphone, aimed at first-time smartphone users. Priced at 2,590 baht, the 3.5-inch Android-based model has a 1-gigahertz processor and supports dual SIMs. S.T. Liew, president of Acer’s smartphone business, said the company last year shifted its smartphone focus to selected potential markets. “Apart from Europe and China, Southeast Asia, especially Thailand and Indonesia, is our main target market thanks to the large population and sound economy,” he said. Acer plans to spend US$2 million this year to... Full story: http://goo.gl/22Kdl3

PSI to go portable with two new devices PSI Holdings, the country’s largest satellite-dish and set-top box provider, yesterday launched a portable satellite dish and a built-in signal-receiving screen aimed at condo dwellers, street vendors and drivers. Users can put the portable satellite dish outdoors or near a window so it can receive signals from the Thaicom 5 and 6 satellites and connect it with a compatible screen that looks like a tablet. The Ozone satellite dish has a one-foot parabolic antenna and an internal stand of low-noise block converter. The seveninch screen, called an OTV, has a builtin signal receiver and a battery running three hours on each charge. It also offers 100 free-to-air channels. The duo is an alternative for those who live in apartments or condominiums, where they are not allowed to install big satellite dishes on their own on high-rise building walls. If they use Ozone, they need not pay for the satellite dish... Full story: http://goo.gl/sOtbfB

HP enters Thai tablet market HP has become the latest US computer

To read the fu ll article of a Mid-September/October 2013 BANGKOK BUSINESS story brief, enter the sh ort code at th ...added that the set aside a signi company had e end the story into budget of Bt20 ficant investment goo.gl/bH6P your browser: of million for over0 million to Bt300 seas expansion F liam Shakespe Full story at http: . //goo.gl/b are

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H6PF in JuliusCaesa Accenture Plc. The of Paiboon – founder, chief executive and Natureby r. 1997 and life -98 waDublin-based are cyclical _ the impact of s a blessing, as the mains seasons of the year, life 2008 wofirm above theof business technology has chairman GMM Grammy – to build and death, farconsulting uld have Eu rop the phase ean averag been worse for the s of the e. http://goo.gl/o region,” Azma Caught up in da moon, the tides. Mokhtar, zbNM n for In Ind the ilythat found technology has become the the future on the available resources. ia, de ma tai Ch na ls, ina gin we eas g director rou an ily forget that Asia stands to ghly 12 percent d Thailand, the business wo - of Khazanah Nasional of Malaysia, tio of has cycles rld of the pothat tol d pu the , too. of core aspects business, and senior The vision is clear the empire wants lan CI con We all MB tri gain from W are all familia Asean Conferen bu with the econo ce. the weakne te to a pension, while mic business cyc r sses music of Thailanand slowdown est of expanleaders le His comme this fact and sio understand to deliver radio and television d’s pe sion, contrashould nn system are... nts we ction and recovery. Howe Full story at htt re... Full story at htt The shift of eco ver,the other p://gosoftware nomic growt p://goto cyclic o.gl/dfu2u maker to jump on Thailand’s consumer make best use programmes alltpH audiences. o.gl/r al of it. As well, h mo- phenomen 3 mentu a affect... m to the East Thailand near has opened Full story at http:/ Preventing up numerou /gopotential to o.gl/fJolr tablet bandwagon, underlining pohas the to change the business s opportunities the p of that Asian countries lis B an t of gk world’s ok from should out, sug ss Panel:model Asia be tential of the third-generation of a company industry siFahmai, chief operating officer for weaor gests an econo not mimobile keeven nking binow st pean mist. nsio ggest off, not immuntter n sy st ch em e, al s: le broadband Th market. HP yesterday unin the future. platforms at GMM Z, the parent firm’s st ng e robust eco ud e y from global cr no Greece, India, Ch Land subsidence China and em mic growth of ises erging economi tablet caused by groun veiled its Android-based satellite-television arm, stressed that his are home to the ina and Thailand water will open a ne consumer es KUALA LUMPUR : The As d losses tops weake w 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 increa be the in the Thai we market, hoping to capitalise But Nontawat Poomchusri, the managteam had set a clear direction to make kesol cal up ved wo l for in rld cri se Bang, kok to the region ppled by their alth from trade in goods and out to be a ble that has turned eign debt, a mix of acute sover- clima mitigate the impact of the servic te chan younThailand, es at a time wh ssi ng in disguof g on increasing demand. However, indusing director Accenture said sure that the media platforms were up ret ge ire on me flo en ne ise high ratios nt ages, a stu arly 15 years lat the United States and Europ dy by multinati oding, says of e are... onal agencies. financial sector er, as the region’s ers and po pensioners to workstory at htt try veteransFullbelieve the world’s secondonly 30% of Thailand’s highest-level exand ready. However, the 27-year-old is or no pe w nsi str on take-up, a ong and study p://goo.gl/S65D6 able to sus The conclusio showe tain a certain n is containe dethe gree “C level”d. _ are involveda repexecutive of sho Grow wmaker cks froecutives d in that this would be a largest computer not be m the fallou_ ort entitled admitted ith themight t in the The fl ow We ste rn Allianz Global Hemisphere, acc and Adaptation “Climate Risks of cy cl es Inv in Asian Coast ording sion Half of all est ors to a panellisin able to keep pace with the likes of Apple digital strategies. Thais are great challenge. “Ialhave to make it sucPe nMe Su stainability Ind t at a recent gacities”, jointly ‘There is a tid Asean tracks conducted by the ex, which As conference. e in the affair ian Developme the relative s men, in of nt sus and Samsung the short term. less than 35 years old, indicating huge cessful in the next Ba tai nk which na , the bil ity - International , tak Japan five years,” he said in of national leads on to for en at the flood, “There wi in 44 countries pension systems and the Wo Cooperation Agency ll be more crises for companies tune”, wrote Wi aro rld to focus on nextan exclusive interview with The Nation. un Ba d nk l- future, an potential in the in the showe 2010. world, d the Asian crisis in tirees d the number of Greek reThe report recom to peopand generation customers recruit more le of wo rking age reFull story at htt mended a... p://goo.gl/20ytarget MD IDC (Thailand), a unit of the global re- young employees. “Business leaders need The five-year was set according

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search firm, predicts tablet sales in Thailand will surge by 94% to 5.3 million units this year, driven mainly by the government’s One Tablet per Child scheme. Smartphone sales are also expected to jump by 70% to 9 million, making up 40% of mobile phone sales. In contrast, the notebook market in Thailand contracted by 10% in the first... Full story: http://goo.gl/Tl1YCP

to understand the implications of a software-driven... Full story: http://goo.gl/DXwMy3

Security software firm eyes cloud, data centres

There is no doubt that Paiboon Damrongchaitham and other high-profile executives built GMM Grammy into a strong music and entertainment empire with 30 years’ worth of content in its library. It is now the duty of Fahmai, a son

NForce Security Systems, a corporate information security supplier, is expanding into the fast-growing information security regulatory compliance, cloud computing and data-centre segments. State agencies, banks, retailers and data-centre operators are projected to be the top spenders of information security systems this year. Managing director Nakrop Niamnamtham said nForce expects Thailand’s enterprise information security market to grow by 12% to 3 billion baht this year, fuelled by strong demand for security. He said the market for conventional information security products like firewalls has already matured, as companies are shifting to cloud computing and need new tools to comply with laws and regulations. NForce is preparing to introduce products that meet the payment card industry data security standard. The international standard, aimed at enhancing payment account data protection, is for organisations that handle cardholder information for major debit, credit... Full story: http://goo.gl/gdNdb7

Business leaders urged to make use of new know-how

The convergence of social media, mobile cloud computing and analytics is transforming the way businesses operate in order to grab new opportunities and stay ahead of competition, says a new report

Son of GMM Grammy founder keen on taking empire into the future

to the successful sale of 1.8 million GMM Z set-top boxes in the past two years. As the box is customer-friendly, he foresees a continued warm welcome. The pace of sales could double in the next two years. By 2018, he expects that half of the Kingdom’s households will be accessing TV programmes via GMM Z set-top... Full story: http://goo.gl/YedzQ7

Read today’s business news briefs about Bangkok, Thailand, and Asean every weekday at www.BBBrief.com

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Mid-September/October 2013

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

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TWO NATIONS, ONE FRIENDSHIP [Continues from last issue] 1960S and 1970s: a changing business and political environment A greater number of young Thais were going to the U.S. for their studies and they returned with more than simply a degree, but also a taste for American fashions and consumer goods. Concurrently, an increasing number of Americans came to Thailand as tourists and as members of groups like the Peace Corps. The largest American contingent was the military personnel associated with the Vietnam conflict By 1968, 45,000 U.S. military personnel (mostly Air Force) were stationed in Thailand. The American presence helped fuel a construction boom. The American designed “Friendship Highway” brought many rural residents seeking a better living to Bangkok, where businesses and factories were located. As the conflicts in Southeast Asia dragged on and, in 1975, ended in communist victories in Vietnam, Cambodia and Laos, the mood in Thailand turned increasingly nationalistic, straining U.S. — Thai relations. In 1972, the ruling military junta announced the Alien Business Law. The Law prohibited or restricted the ability of foreigners to engage in a long list of commercial activities. But Americans, it turned out, were not subject to many restrictions thanks to the Treaty of Amity and Economic Relations. Economic boom, crisis, and recovery Under stable governments thoughtout the 1980s and 1990s, business flourished and Thailand became one of the emerging tigers of Southeast Asia. Demands for American goods and services increased at a remarkable pace and enterprising entrepreneurs recognized the changing taste and achieved great success. Dej Bulsuk left Thailand in 1968 for the U.S. on a Field Service scholarship and “many,

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many Big Macs later,” Dej owned a chain of McDonald’s outlets in Thailand, opening his first store in in 1985 at Amarin Plaza, on Ploenchit Road. Bill Heinecke, who had come to Thailand with his parents as a teenager in 1963, developed a consumer empire that included Pizza Hut, and later The Pizza Company, the Marriott and many other properties. Less familiar to the mass public, perhaps, but far more important to Thailand’s economy were the arrival of several American industrial giants. In 2005, Chevron acquired UNOCAL and began supplying natural gas for PTT Public Company (PTD, Thailand’s national oil company, which produces one-third of the nation’s demand. The ‘Detroit of the East,’ as the Eastern Seaboard became known, attracted American automotive companies such as Ford, General Motors, Dana Spicer and Goodyear. However, the economic boom that so impressed the world had fatal flaws. Overexpansion and increasing debt led to the deflation of the Thai baht and economic contraction. Most American businesses remained in Thailand through the economic crisis, with many providing generous donations to support the recovery economy. In 1998, Thailand’s Finance Minister Tarrin visited President Clinton in Washington, D.C. for the announcement of a U.S.$1.8 billion financial aid package. Thailand soon returned the favor in 2001 by extending the U.S.-Thailand Bilateral Double Taxation Treaty. Mutual support After the 2004 tsunami that hit southern Thailand, Americans (both privately and publicly) donated over U.S.$2.83 billion to help the Southeast Asian region. A year later, in 2005, Thailand assisted American victims following Hurricane Katrina, sending 60 doctors and nurses along with a shipment of rice. Most recently, the United States pledged over U.S.$10 million in direct humanitarian assistance and civic aid to help Thailand recover from the 2011 floods in central Thailand. For over three decades, AMCHAM members have been committed to improving the social infrastructure in Thailand and in 2004, AMCHAM formally registered the AMCHAM Thailand Charitable Foundation (ATCF). To date, over 1,700 Thai University students have received AMCHAM scholarships and nearly 700 schools have benefited from the ATCF’s Adopt-a-School program. Looking towards the future Thailand and the U.S. remain ever vital to each other’s success. AMCHAM estimates member companies have investment of over U.S.$45 billion in Thailand and provide more than 250,000 local jobs.

1970 photo of Bill Heinecke and staff

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President Obama said during his 2012 visit to Thailand, “Thailand is America’s oldest friend in Asia. Our men and women in uniform have stood together and they’ve bled together. Our business people and our entrepreneurs work together to create jobs for both our peoples. Our diplomats, development experts, researchers, and students work together so that our citizens and the people across this region can live in peace and security and dignity.”

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Mid-September/October 2013

The Chambers

BANGKOK BU SINESS BRIEF

December 20 11

Briefs 11

BANGKOK BUSINESS BRIEF General Inte

rest

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

Message from the President, Leigh Scott-Kemmis

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2. An update by the Australian Embassy 3. An opportunity for open discussion/knowledge-sharing

We are proud to announce that AustCham has recently been awarded funding from the Australian Government under its Asian Century Business Engagement Plan scheme. A headline activity of that grant will be our Australian Business Forum (ABF) luncheons. It’s no secret that two of the most powerful business enablers are people and information. The ABF, therefore, will bring individuals together in a way that promotes people-topeople business connections, and enables the sharing of business information and knowledge. The luncheons will follow a standard agenda of: 1. A briefing on business strategy by an Australian-related or Australian-Thai related business

By following a standard program participants will know what to expect when they attend, thus creating an Australian Business Forum ‘brand’ in the same way that ‘Sundowners’ has become renowned as the best cocktail-style networking in Thailand. The ABF and luncheons will be unapologetically Australia-Thai focussed. But they certainly won’t be Australia-Thai exclusive. There is no strict definition of Australianrelated or Australian-Thai. The terms are intended to broadly refer to businesses, business-people and related entities that are interested in (or can assist in promoting) commerce between Australia and Thailand. Our first ABF luncheons are planned for September so I hope to see you there. Finally, this month we begin recruiting for a new Executive Director (ED). Our current ED, Mark Carroll, will be returning to Australia in January so we are beginning work early to ensure a smooth transition. We won’t be letting Mark off too lightly, however – he’s got the ABF and a few other initiatives to deliver before the end of the year. We’ll be keeping the pressure on for him to continue the good work we’ve seen over the past few years!

GET READY FOR the coffee club AFL grand final family day 2013 Date: Date: Saturday Saturday 28th 28th September September Time: Time: Brunch Brunch served served from from 10.00am 10.00am Venue: Venue: The The Imperial Imperial Queen's Queen's Park Park Hotel Hotel

The largest event of its kind outside of Australia, AustCham’s annual AFL Grand Final extravaganza will this year be held on Saturday, 28 September at The Imperial Queen’s Park Hotel. You can access the Imperial Queen’s Park Hotel from the Phrom Phong BTS Skytrain station with just a short stroll through Benjasiri park. The hotel is directly accessible from the park side. Beginning from 10am with an all-day champagne brunch, the grand final family day includes entertainment for the children, giveaways (including airline tickets to Australia courtesy of Qantas), Aussie meat pies, free flow beer and wine and much, much more. The centrepiece is, of course, the AFL Grand Final which is displayed on six big screens - recreating the MCG big game atmosphere. The AustCham AFL Event is like no other. Great reasons to attend include: • Great coffee served all day by The Coffee Club’s own baristas. • A lucky draw prize of two tickets to Australia courtesy of Qantas. • Fine Aussie bubbles served courtesy of Bangkok Fine Wines. • A huge all-day international brunch buffet.

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For more details CLICK HERE!

• Unlimited free-flow drinks! Beer and quality Australian wine. • Loads of activities for your children in the Kids Room. • Big Game atmosphere with six huge screens. • Handball competition - test your skill and win prizes. • Lots and lots of prizes up for grabs in our huge charity raffle, with all proceeds going to the enormously worthy Beaumont Ruam Pattana School. Event details Date: Saturday 28 September 2013 Time: 10:00 - 15:00 (please note the changed time from previous years) Cost: Baht 22,500 for full table (table of ten) Baht 5,500 for family ticket (two adults and two children 6-17 years) Baht 2,500 for individual adult ticket Baht 700 for individual child ticket (6-17 years) Free for children under 6 years of age with accompanying parents Location: The Imperial Queen’s Park Hotel, 199 Sukhumvit Soi 22 BTS: Phrom Phong

BANGKOK BUSINESS BRIEF

Mid-September/October 2013

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21st century careers & education

Story continued from Page 1.

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A recent Slideshare presentation by the New York-based branding agency Sparks & Honey contrasts the “stable, linear, singular” careers of our parents and grandparents, with the “complex, fragmented, specialized, collaborative, and ever-evolving” careers of the immediate future, concluding that for most of us (and our children), our work lives will consist of “a portfolio of micro-careers.” These ‘micro-careers,’ according to Sparks & Honey, will possibly include stints as ‘productivity counselors,’ ‘personal digital curators,’ ‘alternative currency speculators,’ ‘drone pilots’ (for commercial and private use) or ‘digital death managers.’ Thomas Frey has his own list of possible jobs in the future that includes ‘urban agriculturalists, ‘avatar designers,’ ‘3D-printing engineers,’ and ‘nano-medics.’ But while these ‘future jobs’ may sound enticing, there could also be a downside to the proliferation of technology. MIT Economist Andrew McAfee is predicting that we are on the verge of a “new machine age” with “more and more machines and fewer and fewer jobs.” He predicts that automation will continue to increase and that machines, and eventually sophisticated androids, will take over the monotonous, repetitive jobs that are currently filled by people. As he says in a recent TED Talk, “Within [our lifetimes], we’re going to transition into an economy that… doesn’t need a lot of human workers. Managing that transition is going to be the greatest challenge that our society faces.” On the surface, this might look like a disaster for the people in developed countries like the U.S. and in emerging economies like Thailand, who lose their jobs in this new “age of technological unemployment.” But while he acknowledges the societal challenges that we face with these new realities, he is also cautiously optimistic that solutions exist and technology, while taking over many jobs, will create new jobs and opportunities. But with all of these dramatic changes to the economy and to job markets in the coming years, how do we prepare ourselves, our children, and our grandchildren for life in the 21st Century, for jobs that don’t exist yet? How do we help current and future generations develop 21st Century skills for a portfolio of micro-careers in different or new sectors, or for jobs across multiple industries? For most experts and commentators, creating the workforce of the future requires a radical rethinking of our educational system. Thomas Frey laments, “One of my primary complaints with higher education is that they tend to prepare students for jobs of the past.” Indeed, educational systems in many countries in the world haven’t changed much since the 19th Century. Despite the technological changes that have altered the way we communicate, consume information, and lead our lives, the way we are taught in the classroom has remained relatively constant for generations. And much like the music, publishing, and entertainment industries, the education industry, however reluctantly in many cases, is facing dramatic changes as a result of technology. New tools like tablets and other devices are being introduced to classrooms around the world, and the traditional educational model, the university, is facing the challenge of MOOCs – massive, open, online courses – that threaten to forever change the way we learn and prepare for our professional careers.

In Part Two, next month, we will examine the effects that MOOCs are having on traditional institutions, and how education and training might be conducted in the future.

Bangkok Business Brief www.BBBrief.com

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Mid-September/October 2013

The Calendar

Sept.

Sunday

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

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Tuesday

Monday

Mango Metro Networking Party http://goo.gl/6ngBg

Pattaya Property Auctions http://goo.gl/zRSEu5

AustCham: The Ten Tenors From Australia http://goo.gl/sEuLDx

AMCHAM: Myanmar Task Force – Sanctions Briefing http://goo.gl/sahIKY AMCHAM: ICT Cmte http://goo.gl/Moj5dW

30 AMCHAM: Legal Cmte – Extradition and International Crime http://goo.gl/MvWOMZ

Oct.

14 AMCHAM: Tax Cmte – Thai Tax Updates http://goo.gl/Rqm2Iz

Joint: Chambers Lunch with Dr. Mechai http://goo.gl/1HLi0T http://goo.gl/tHLDdT AMCHAM: Briefing with Deputy Sec’y of Energy http://goo.gl/8v4u2l Bangkok Entrepreneurs: http://goo.gl/JihG3 AMCHAM: Board of Governors Meeting http://goo.gl/Po4p5Z Bangkok Trader / Mango Metro Networking http://goo.gl/EnNbR

AMCHAM: Myanmar Task Force http://goo.gl/P1tBnR AMCHAM: HR Cmte http://goo.gl/3htE45 PPI Professional Hour http://goo.gl/EbSqX AMCHAM: Mktg Cmte http://goo.gl/2xgnDS

15 AMCHAM: ICT Cmte http://goo.gl/wrzYmK AMCHAM: Professional Women Cmte http://goo.gl/xP0Mwb

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Mid-September/October 2013

BANGKOK BUSINESS BRIEF

Send us your event details for the Mid-October/November issue by October 7th to reid@bbbrief.com Wednesday

Thursday

18 AMCHAM: CSR Cmte – CSR Excellence Awards Briefing http://goo.gl/lU0eSe

Friday

19 AMCHAM: Customs & Excise Cmte http://goo.gl/q8OV6J

AustCham: Australian Business Forum – Eastern Seaboard Luncheon http://goo.gl/aqI0i3 AMCHAM: Community Engagement Cmte http://goo.gl/ZGjdLE

AMCHAM: Transportation & Logistic Cmte – SRT Infrastructure Plan http://goo.gl/5fZopm AustCham: Sundowners http://goo.gl/isogyw

PFS Breakfast Seminar http://goo.gl/6CF6Hm AMCHAM: CSR Cmte – Best Practice by Dow Chemical http://goo.gl/gKrF9M AMCHAM: Santa Fe ChariBowl Tournament http://goo.gl/xN2BMg

AMCHAM: Security/OSAC – OSAC Bangkok Council Executive Council Mtg http://goo.gl/PsktD1

20 AMCHAM: Boardroom Briefing – Saving Money by Using Trucked LNG http://goo.gl/LQ9VMu

AMCHAM: Adopt-a-School Dedication for RMA Automotive http://goo.gl/LTpxF8 Movers & Shakers http://goo.gl/xOfWr

AMCHAM: Special Report – Thailand and Traffic in Persons Briefing http://goo.gl/zXnnrS AMCHAM: YPC Speed Networking http://goo.gl/I3dgL9

AMCHAM: Monthly Luncheon – CEO of Thai Air Asia http://goo.gl/XnbdLf AMCHAM: Travel & Tourism Cmte – Growing Thailand’s MICE Segment http://goo.gl/6o5A6K

AMCHAM: SME Cmte http://goo.gl/Z5Vnt2 AMCHAM: Social Networking & Meet The Board Candidates Night http://goo.gl/uqPFRx

Saturday

AMCHAM: Customs & Excise Cmte http://goo.gl/o5bM5v AMCHAM: Food & Agri-Bus. Cmte http://goo.gl/3cfGwM

AMCHAM: Community Engagement Cmte http://goo.gl/bIP3kA AMCHAM: CSR Cmte – Best Practice by Chevron http://goo.gl/cSQJjB

21 AustCham: Voluntary English Teaching http://goo.gl/dwpy2M

AustCham: The Coffee Club 2013 AFL Grand Final Family Day http://goo.gl/krLdnP Manchester United Players at Hemingway’s http://goo.gl/1LdlLw

AMCHAM: Auto Council Cmte http://goo.gl/7lgrLU AMCHAM: Adopt-a-School Dedication for Young Professionals Committee http://goo.gl/EblDJI Joint: Eastern Seaboard Networking Evening http://goo.gl/a1Y9WM

AustCham: 5th Women with a Mission Annual Charity Golf Tournament http://goo.gl/XkT7bm

AustCham: Voluntary English Teaching http://goo.gl/uixG8q

Last Night of the

The best of British! Celebrating 120 years of proms history and 10 years of exceptional music making at Shrewsbury in one unique event

THURSDAY 31ST OCTOBER 2013 SHREWSBURY INTERNATIONAL SCHOOL Dinner and drinks from 6pm. Concert begins 7.15pm Email: tickets@shrewsbury.ac.th. Phone: 02 675 1888

www.shrewsbury.ac.th

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9/13/13 10:58 AM