Voyageur Magazine - February 2012

FEBRUARY 2012 A publication of the Thai-Canadian Chamber of Commerce

02 / 2012

Join us for the‌

22nd TCCC Annual General Meeting Wednesday, March 14, 2012 Grand Millennium Sukhumvit Hotel

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Calendar

TCCC

Calendar of events: 2011/2012 TCCC Executives Patron:

His Excellency Ambassador Ron Hoffmann President – John Casella Vice President – Ali Fancy Vice President – John Stevens Secretary – Dr. Tim Cornwall Treasurer – Michael Howard

Executive Board:

John Casella Sranyoo Chanate Neil Chiu Dr. Tim Cornwall Ali Fancy Michael Howard Ron Livingston Geoff McIntyre Alan Ng Sukanya Rattanavadee John Stevens Derek van Pelt

Embassy Representative: Ping Kitnikone

Advisors:

Raymond Bodemer Sam Cohen Surachit Chanovan Zoltan Kosa Don Lavoie Niccolo Sozzi Picharn Sukparangsee Michael White Peter Van Haren

Executive Director: Randy Shockley

Thai-Canadian Chamber of Commerce 139 Pan Road, Sethiwan Tower 9th floor, Bangkok 10500 Tel: +66(0) 2266-6085-6 Fax: +66(0) 2266-6087 Email: tccc@loxinfo.co.th Website: www.tccc.or.th

The Voyageur is the monthly magazine of the Thai-Canadian Chamber of Commerce, covering all Thai-Canadian business, legal and social news of interest to the members and others who are active in expanding Thai-Canadian bilateral trade.

Editor: Randy Shockley, Executive Director, Thai-Canadian Chamber of Commerce Publisher: Scand-Media Corp., Ltd. 4/41-2 Moo 3, Thanyakarn Village, Ramintra Soi 14, Bangkok 10230 Tel: +66(0) 2943-7166-8 Fax: +66(0) 2943-7169 Design: Disraporn Yatprom Email: disraporn@scandmedia.com Advertising Contact: Mr. Finn Balslev, Marketing Director Scand-Media Corp., Ltd. Tel: +66(0) 2943-7166 ext.151 or 08-1866-2577 Email: finn@scandmedia.com

WHEN: WHAT:

Tuesday, February 7, 2012; 11:30 am – 2:00 pm Speaker Luncheon: Dr. Soonthorn Chaiyindeepum, Deputy Director - General, Department of ASEAN Affairs will talk on the “ASEAN-Canada: 35 Years of Partnership and Friendship” WHERE: Four Seasons Hotel, Bangkok PRICE: 700 baht – Members; 850 baht – Non Members WHEN: Wednesday, February 15, 2012; 6:30 pm to 8:30 pm WHAT: Canuck Connections Networking Night WHERE: Bourbon St. Restaurant, Oyster Bar & Boutique Hotel. This networking will be held at Bourbon Street’s new location (See event flyer for complete details) PRICE: Members - 200 baht; Guests & Non Members – 400 baht WHEN: WHAT: WHERE: PRICE:

Wednesday, March 14, 2012; 10:30 pm to Noon & 1:45 pm to 2:00 pm 21st TCCC Annual General Meeting (AGM) Grand Millennium Sukhumvit Hotel (Asoke Rd) No Charge (TCCC members’ annual business meeting)

WHEN: WHAT:

Wednesday, March 14, 2012; Noon – 1:45 pm AGM Speaker Luncheon: Mr. Isadore Reaud from Population & Community Development Association (PDA) will speak on the Village Development Partnership (VDP) and the TCCC’s 2011 CY contributions to the village of Baan Nong Phai WHERE: Grand Millennium Sukhumvit Hotel (Asoke Rd) PRICE: 700 baht – Members; 850 baht – Non Members WHEN: WHAT: WHERE: PRICE:

Wednesday, March 21, 2012; 7:00 pm – 9:00 pm Canuck Connections - “Meet the New Board Night” Bar Su - Sheraton Grande Sukhumvit Hotel 200 baht – Members; 400 baht – Non Members. Beer & wine Compliments of the TCCC (while supplies last).

CCBA

Upcoming events in the region:

China: http://www.ccbc.com WHEN: Thursday, February 16, 2012; 4:00 pm - 9:00 pm WHAT: Shaun Rein: The end of cheap China and its implications for manufacturing sectors WHERE: Please visit www.malaysia-canada.com for more details PRICE: $30 fee includes admission to webcast on Feb. 16, Shaun Rein's book "The End of Cheap China" released in March, recording of the webcast for replay and full transcript & slides.

Japan: http://www.cccj.or.jp WHEN: Friday, February 17, 2012; 6:30 pm onward WHAT: Maple Leaf Tohoku – Support Gala WHERE: The Grand Hyatt hotel in Tokyo PRICE: Please register at www.cancham.com.ph Philippines: www. cancham.com.ph WHEN: Friday, February 22, 2012; 8:30 am - 10:00 am WHAT: CanCham Executive Management Series WHERE: New World Hotel Makati City PRICE: P1000 for members, P1500 for Non-members

22 nd TCCC Annual General Meeting Wednesday, March 14, 2012 Grand Millennium Sukhumvit Hotel, 30 Sukhumvit 21 (Asoke) Road Klongtoey Nua, Wattana Bangkok, 10110, Thailand AGM Agenda 10:30 Member arrival and registration 11:00 Quorum reached and AGM declared open 11:45 Ballot Box closed; members seated for lunch 12:00 AGM Luncheon 13:15 Luncheon Speaker - Mr. Isadore Reaud from Population & Community Development Association (PDA) will speak on the Village Development Partnership (VDP) and the TCCC’s contributions to the village of Baan Nong Phai 13:45 Announcement of new Board members 14:00 Meeting Adjourned

AGM Speaker Luncheon 700 Baht (members), 850 Baht (non-members) (Corporate members can use their 2012 luncheon vouchers)

Chamber News

The Great Canadian T

his year’s Great Canadian BBQ was held on Saturday, January 28th and took on a little of that “Home Alone” feel as the Hoffmann’s were not at the official residence to share in this year’s festivities. While Ron’s and Andrea’s travel commitments kept then from hosting this year’s event, we’d like to personally thank them and the Embassy staff for all of their support in helping us to deliver a successful 2012 BBQ. In total, 140 individuals participated in this year’s event.

As in prior years, the BBQ was rooted in the spirit of the “Calgary Stampede” and took place on the spacious and beautiful lawn of the Ambassador’s official residence. This late afternoon event offered a relaxing family atmosphere, great Canadian comfort food, free flowing Canadian beer and wine, as well as an impressive supply of Bloody Caesars that were consumed with great enthusiasm. Our country and western music was provided by the always entertaining Outlaw Brothers Band.

It almost goes without saying that nobody left this event hungry. A great BBQ buffet was delivered by our friends at the British Club that included a mixed green salad, Greek salad, chicken with cranberry salad, potatoe salad, pork ribs, hamburgers, chili burgers, sausages & hotdogs on buns, grilled chicken, beef kebabs, baked beans, chili, baked potatoes with fillings and dessert offerings of fresh seasonal Thai fruits, apple & blackberry crumble with custard and three flavors of ice cream. We were also fortunate to have an opportunity to taste-test the very delicious “Yah Man” Jerk Chicken provided by TCCC member Les Walsh and the Canadian – owned, Pattaya Pickle Company.

When it came time to select the BBQ’s “Best Stampede Outfits” in the Men’s and Ladies’ categories, the judges were certainly offered up two excellent groups of qualified contestants (see event photos). However, the hands-down winner across both groups was Mrs. Julie Howard who exhibited a true sense of the “Calgary Spirit” with her great cowgirl attire.

This year’s raffle draw was also very exciting as it offered several high value prizes including an eloquently framed reproduction of Van Gogh’s famous still life painting of a vase with 12 sunflowers donated by Natee International Law Office Limited, a Queen’s Diamond Jubilee - $5 pure gold coin provided by Royal Bank of Canada (RBC) and several top of the line skin treatments offered up Genesis Skin Care Klinic.

If you missed the opportunity to participate in this year’s Great Canadian BBQ, we hope you’ll find time to share in the Chamber’s 2013 event.

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Chamber News

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Great Canadian BBQ 2012 Sponsors: Food & Beverage Sponsors:

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Ladies competing for a 12- pack of Moosehead in the “Best Dressed” Cowgirl Competition Socializing a major part of any BBQ The Howards looking marvelous The Livingston family – real ‘black belt’ cowboy’s’ This lady was the happy raffle draw winner of the beautifully framed reproduction of Van Gogh’s famous “vase with 12 sunflowers” donated by Natee International Law Office Limited 6. Can’t have a BBQ without a game of horse shoes 7. Children’s game area sponsored by Royal Bank of Canada (RBC) 8. Khun Yui & Khun Aomy welcoming the BBQ guests 9. Members of the Outlaw Brothers band 10. On this night, the Moosehead beer was free flowing and thoroughly enjoyed!

11. The Casella’s attended with friends from out of town 12. Darwin Forer – VP Asia, REDEV Properties with his two sons 13. No bales of hay, but plenty of Cacti 14. (R-L) Dr. Rujirat & Olivia pointing out the benefits of the Genesis Skin Klinik treatments 15. Winners of the “Best Dressed” Cowboy & Cowgirl competition 16. - 18. “Cowboys and Cowgirls embracing the Stampede Spirit”

February 2012

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Feature Story

One for the Road…

Perched at just below 1,700m I’m atop one of Chiang Rai province’s tallest mountains, Doi Chaang, at a tiny coffee shop, sipping a latte and learning about one of Thailand’s most successful coffee companies, Doi Chaang Coffee.

“I

didn’t even drink coffee before coming here more than 10 years ago,” explains Khun Wicha Promyong, President of Doi Chaang Coffee. “They had about 200 acres of coffee trees at that time and I thought if we can grow more and better quality coffee life could really improve for people here.

Ten years ago our coffee was selling for $0.50US/kg and now it’s getting as much as $12US/kg.”

It turns out the mostly Ahka hilltribe people that live and farm coffee at this remote outpost didn’t even drink coffee either 10 years ago, finding it bitter and not really understanding why people like it. Go back just 20 years ago and these hills were rife with opium, people were poor, sickly, didn’t have education, healthcare and prospects of a better life were grim. The introduction of Arabica coffee has quickly changed life at Doi Chaang and other mountain communities in northern Thailand and ethnic hilltribe groups are not only enjoying a better quality of life but their coffee is becoming famous on the international market.

“I’m quite sure you can grow good coffee anywhere in Thailand above 1,000m but the real important thing is processing. If you take the time and care to process it properly you’ll

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have a good cup. Most people are lazy and don’t take the time to process it properly. It took us five years to figure this process out.

I’m sure in the next five years people around the world will know a lot more about Thai coffee,” says Khun Wicha.

Coffee was first introduced to Thailand way back in the 1800s but it didn’t really gain a footing until 1974 when when the Royal Project for Hilltribe Development under direction of His Majesty King Bhumibol Adulyadej, conducted research on highland cultivation of Arabica coffee. It was found that quality Arabica coffee could be grown throughout the kingdom’s northern mountains, beans were distributed, methods of production shared and opium became a thing of the past.

Today Doi Chaang Coffee is producing 2,000 tons of beans, way up from a meager five tons back in 2000. Part of this dramatic increase in production is due to a Canadian businessman from Vancouver who invested in Doi Chaang Coffee back in 2006, gifted 50%

of the international venture to the community and has been working hard to put their coffee on the international map. It’s now widely available in a number of major Canadian grocery stores, coffee shops and can also be found in Japan and Europe. Things are looking good for Doi Chaang.

The Ahka farmers are originally come from Tibet, some of Thai citizenship while many don’t but have lived on the mountain for generations. They start early, just as the sun comes over the hills and get picking lush, ripe, red berries off the trees which can grow to more than 1.5m in height. Picking season lasts from mid-October until early February and it takes the plants three years to reach maturity. Hand-woven baskets full, they carry their loads to the coffee processing facility where the real work begins.

“You have to get up early in the morning, pick the cherries, bring them to the washing station, pre-wash them, pulp them, then dry ferment them for one day. Underwater fermentation takes another day, then we soak the beans with natural spring water for another 24 hours, drain it properly and naturally sun-dry them for seven to eight days.”

“All these processes take about 14 days then you have to store it for another six to seven months, then pulp it to get the parchment off the green bean and then you finally roast it.”

It’s this meticulous process that ensures coffee tastes great by the time it hits your cup. While starting with good quality Arabica beans is key one must ensure they don’t rush the process, use fresh water and are meticulous each step of the way. It’s adhering to these techniques that have seen Doi Chaang Coffee score as high as 91 out of 100 at several international coffee competitions.

But it’s not just large operations that are doing well in the Thai coffee trade.

About 75km north is the charming town of Doi Mae Salong. Famous for its Oolong tea fields, which were introduced in the late

Feature Story

1970s by Kuo Ming Tan (KMT) soldiers from China, villagers and some intrepid entrepreneurs are trying their hand at Arabica beans too.

Khun Wilai and Weeral Cheewinwon, both originally from Doi Mae Salong got tired of living in large Thai cities and returned to their village about five years ago. Here fields are at about 1,000m, just high enough to produce decent beans and they decided to give it a go. It’s been a struggle but according to Khun Wilai things are improving each year.

“We have about 2,500 trees which produce 400kg of roasted beans per year. It’s not a lot, but they can fetch up to $15US/kg and since the trees are only three years old this is a pretty decent yield.”

We stroll into their coffee fields for a look then continue further along small footpaths through small villages for a look at more independent farms. Mostly Ahka people are now planting coffee trees under the shade of larger cherry, lechee and macadamia trees, giving a boost to their land’s yield. Discarded fruit from the coffee beans is all along the footpaths, bringing to my attention that fact that with coffee the fruit is discarded and it’s the seed that’s utilized. Women in full tribal headdress work their fields, sing songs and are clearly happy to be improving their lives.

Another 40km north I’m at perhaps Thailand’s most famous mountain for coffee, Doi Tung. Started by His Majesty the King’s late mother in 1988, the Mae Fah Luang Foundation has played a major role in eradicating opium, introducing replacement crops, providing schools, clinics and weaning addicted persons off opium’s grip here. Coffee has played a major role in this process.

Doi Tung now has coffee shops across the country, has 1.7 million trees that are farmed by a collective of 1,000 hilltribe people and annually produces 200 tons of

green beans. Executive Director at Doi Tung, Khunying Rungroi explains that coffee was a natural crop to introduce and fit with their goals. “Our main intent was to figure out how we can keep man and forest together so they won’t be destroyed again. We did several trials and found that coffee worked well under the shade of the pine trees that we planted to reforest the mountains.”

While helping to improve locals’ lives and reforest the mountains, introducing eco-friendly farming and growing methods is also a key objective according to Khunying Rungroi. “We say our coffee is ‘Bird Friendly’.

It’s a coffee term meaning that when the birds eat the coffee they don’t drop dead. They can live on the coffee as we don’t use pesticides and let it grow naturally.”

Thailand is now the third largest coffee producer in SE Asia after Vietnam and Indonesia and is setting the bar high for not only great coffee but bettering local communities at the same time.

Here’s drinking to that.

Story & Photos courtesy of Scott Coates and Smiling Albino (www.smilingalbino.com), the region's top custom travel company

Scott Coates - Originally from Calgary, Canada, Scott moved to Thailand in 1999 to follow a dream and start an innovative travel company, Smiling Albino.

He’s written for publications around the world, published photography, consulted for international businesses and received international recognition for his community work in the region. An avid mountain biker, dirt biker and jogger, he thrives on exploring and discovering the next big thing. He currently resides in Bangkok about 50% of the time and loves a pint of Guinness (or two).

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February 2012

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Community News

The 18th Annual Mekong Cup International

Ball Hockey Tournament March 3, 2012 Phuket, Thailand

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he Bangkok Thai Stix Ball Hockey Club in conjunction with the International Street & Ball Hockey Federation (http://www.isbhf. com/), the International body for the sport of ball hockey, will soon be holding their 18th Annual Mekong Cup International Ball Hockey Tournament. This historical annual event will be held on Saturday, March 3, 2012 at the beautiful Centara Karon Resort Phuket at Karon Beach in the tropical paradise of Phuket, Thailand (http://www. centarahotelsresorts.com/ckr/ckr_default. asp).

The Mekong Cup is an event held annually in Phuket. We anticipate the participation of teams from around the world, with past participants in this grueling competition including teams from Singapore, Kuala Lumpur, Hong Kong, Ho Chi Minh City, Phnom Penh, Kaohsiung (Taiwan), Tokyo, Petralka (Slovakia) and of course the host team from Bangkok (the Thai Stix). This year’s event looks to attract both familiar faces and new teams from around the world. The tournament is a channel to promote and develop the

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hospitality in the country’s biggest and most beautiful world-class island.

This year’s event will be hosted at a new venue, the Centara Karon Resort Phuket, which we are extremely confident will provide the same outstanding standard of facilities, service and fun as we have always enjoyed at the Mekong Cup. In addition, the Mekong Cup supports a very worthy cause with a charity auction held at the banquet dinner, which has been able to raise more than THB220,000 for the Vivian Slot Scholarship Fund (http://www.unizg.hr/vivianscholarship/), named after the daughter of a Hong Kong / Singapore ball hockey player who unfortunately lost her life in the 2004 tsunami while visiting Phuket on holiday with her family.

sport of ball hockey in Thailand, throughout the South-East Asia region and around the world, and also to “open doors” in welcoming all Mekong Cup visitors to our renowned Thai

Please make sure that you don’t miss this great tournament and an opportunity for a fun-filled weekend in Phuket with friends.

For further information, please contact our Tournament Director, John Casella, email address: johncasella@iname.com, telephone: +66-81-829-8954.

Community News

Team Canada Tops the World 7-5 in Charity Game In a thrilling charity hockey game held recently to raise money for Thai flood victims Team Canada defeated the World Team 7-5.

The game launched “The Rink”, a new ice skating facility located on the 7th floor of the Central Grand Rama IX shopping centre.

Team Canada was composed of Canadian expats based in Thailand, plus four visiting Canadian MPs (Patrick Brown – Barrie, Andrew Saxton - North Vancouver, Brian Jean – Fort McMurray, and Blaine Calkins - Edmonton ), and ex-Trustee Justin Heran from Barrie. The World team was a collection of American, Czech, English, Finnish, German, Norwegian and Swedish players. It was also boosted by the top line from the Thai National Team, which won silver at the Asian Winter Games in Kazakhstan in 2011.

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ohn Casella, President of the TCCC, and one of the Flying Farang players was one of the VIPs introduced at the beginning of the game. As was Jennifer May, Canada’s Charge d’affaires, who represented the Canadian Embassy at the event decked out in a Montreal Canadians jersey. TCCC board members Geoff McIntyre and Derek van Pelt also played for Team Canada.

The Canadian team fell behind 2-0 early in the game; then rallied with four straight goals to take the led 4-2. MP Brown scored on a beautiful slapshot to tie the game at 2 and Kirk Nell tipped in a clearing pass to put the Canadians in the led. The World team rallied to within one scoring to trail only 4-3.

But the Canadians seemed to draw energy from a skirmish in front of the World net and exploded for three goals in quick succession to take a commanding 7-3 lead. The World squad later two added goals late in the game to make the final score a respectable 7-5.

Thomas Doucet was in goal for Canada during the first period, Simon Halverson during the second period and Lance Parker was in net in the third. Fifteen-year-old Halverson, the son of RCMP officer Gary Halverson, was particularly brilliant during stretches of the second frame when the World team stormed the net trying to tie the score.

The BNH mascots were on hand delivering good cheer as they worked the crowd.

Everyone seemed to enjoy the show, especially the Canadian MPs who were presented with their own personal Flying Farang jerseys before the game.

Organizer Scott Murray said, “We were on pins and needles up until game time because the Zamboni was broken, but in the end it all worked out and everyone had a good time.

The Flying Farangs would like to thank Khun Noi of The Rink, Sakchai Chinanuvatana and Scott Whitcomb, without whose help we could not have staged this game.”

The game raised 70,990.25 baht for the Thai Red Cross in support of flood relief.

Supporting photos were provided by NAZ Brown February 2012

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Embassy News Arthur C. Perron 08-Nov-1990 to 12-July-1994

50th Anniversary

Greetings from Old Friends…

A few former Ambassadors to Thailand share their wonderful memories on the occasion of the 50th Anniversary of Canada-Thailand bilateral relations: Lawrence Austin Hayne Smith 26-Nov-1987 to Nov-1990 I was privileged to be the Canadian Ambassador in Bangkok, 19871990, and am delighted to see that you are celebrating the 50th anniversary of diplomatic relations. Both my wife and I thoroughly enjoyed our years in Bangkok and still recall nostalgically the beauty of the country, the friendliness of its people and the wonderful times we had there. Professionally, it was the dynamism of the economy which made my work so fascinating. I recently came across the farewell dispatch I had written on my departure in 1990 which pointed out that two-way trade had increased fourfold in the previous three years, and that investment had skyrocketed. I compared the bilateral relationship to Leacock's horse which was taking off rapidly in all directions at once.

I am sure this relationship is continuing to deepen and widen and I wish you great success on the occasion of this golden anniversary.

It was a privilege for Nicole and me to live in the Kingdom of Thailand from 1990 to 1994 and for me to serve as the Ambassador of Canada.

Our memories are as vivid today as they were fascinating and enlightening to experience at the time. From the beauty and pageantry of the festival of Loi Kratong in Sukothai, to the joyous celebrations during Songkran everywhere, to the sheer magical spectacle of thousands of candle-lit lanterns rising in the dark night sky during Yi Peng, Thailand is a land of tradition, of spirituality and of beauty.

During our stay in Thailand, the Canada -Thai relationship evolved and deepened. It was a time of change, a time of seizing new opportunities and a time of creating the foundations of a mature and mutually beneficial partnership. We worked together in policy institutions that focused on economic development, technology, governance, energy and human rights in the region. It is with particular pride that we organized a historic visit to Thailand of the Nobel Peace Prize Laureates to further human rights in Myanmar. Serving on the International Advisory Board of Chulalongkorn University allowed us to establish integrated programs with universities around the world, including Canada. The government’s decision to bestow one of its highest honors in recognition of our programs designed to enhance the role and status of Thai women as leaders in society was yet another highlight of my term.

Working with Khun Anand Panyarachun, following his appointment as Prime Minister by His Majesty the King, to restore democratic processes and good government was evidence of the close collaboration between our two countries.

Nicole’s leadership as President of the Diplomatic Corps Red Cross Society and contribution towards initiatives to assist those in need were recognized by civil society and Royalty.

Thailand can take its place amongst the leading Asian countries of the world and Canada is particularly proud of the close and dynamic relationship it enjoys with this impressive nation

Andrew McAlister 20-Aug-2001 to 10-Aug-2004

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I was the Canadian Ambassador to Thailand in 2001-2004 and it was a high point of my diplomatic career.

There were so many wonderful moments during our time in Thailand that it is very difficult to choose just one or two.

Participating in the ceremony to mark the destruction of Thailand's last stocks of anti-personnel landmines; helping Canadian companies enter the rapidly expanding Thai market; visiting the hill tribes; visiting Canada Fund projects across the country; but most of all meeting so many Thai friends and colleagues, with whom we remain close even after being away for several years-- these were just some of the many activities and events which made our stay so pleasant and productive.

My wife, Bente, and I have a lifetime of memories from our all too short stay in Thailand, but one stands out-- the evening Royal Barge procession on the Chao Phraya during the APEC Summit in 2003.

It was a spectacular display put on with typical Thai elegance and style. Just the break we needed from the stresses of managing the Canadian Trade Minister, the Foreign Minister and the Prime Minister who were all in Bangkok at the same time!

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February 2012

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Chamber News

Super Students Eager to win IB Diploma Scholarships at KIS International School KIS Inter national School is currently accepting applications for their coveted IB Diploma academic scholarships for the academic year 2012-2013. KIS scholarships are well respected in the inter national school community and are awarded in order to recognize academic excellence and open up the world of International Baccalaureate (IB) to deserving candidates. The IB Diploma scholarship winner will be granted full tuition for the duration of the two-year IB Diploma programme.

T

he IB Diploma Scholarship from KIS International School, which is valued at over a million Baht, opens the door to many of the world’s best universities for academically strong and committed students.

Teenagers currently aged 15 or 16 years old and in Grade 10 (or Year 11) can apply to compete for the grant of the full IB Diploma Programme at KIS. The scholarship is open to applicants of all nationalities who are fluent in English. Applicants should also be academically strong and well-rounded. They will be required to sit an exam and undergo an interview as part of the application process. Candidates who do not receive the scholarships but who do perform above expectations may be eligible for a partial scholarship.

Please request full conditions and details of the scholarships from Ms. Linda Belonje linda@kis.ac.th. More information about KIS is at www.kis.ac.th.

Contact: Linda Belonje Tel: 02-274-3444 ext. 4116, Email: linda@kis.ac.th KIS International School 999/124 Kesinee Ville, Pracha-Utit Road, Huay Kwang, Bangkok 10320 Thailand Tel: +66 (0) 2274 3444 Fax: +66 (0) 2274 3452 E-mail info@kis.ac.th www. kis.ac.th

January 2012 TCCC Speaker Luncheon

D

uring our Tuesday, January 24th Speaker Luncheon, the members were provided with an excellent economic presentation by Khun Pimpaka Nichgaroon, Head of Research for Thanachart Securities. Her presentation was titled “Winds of Change” and highlighted some key insights on Thailand’s forward economic environment: 1. The Thai economy is cyclically peaked out with the key economic drivers of Consumption, Private Investment, Government Investment and Exports lacking unified momentum. For CY 2012, Consumption was seen as the primary economic driver.

2. Given the outlook for peaking farm income, weaker exports and the loss of purchasing power from the recent floods, it is anticipated that Consumption will also lose some of its prior momentum.

3. Government spending packages have change from being infrastructure oriented to consumption oriented-populist packages over the last two years.

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4. Runaway populism is becoming a growing concern given the country’s large tax revenue shortfalls and the fact that it’s entering into a low quality public debt cycle straddled with twin deficits in 2012 and 2013.

5. The Thai market’s earnings growth was a key factor in driving the SET’s strong performance over the last two years, but this could be coming to an end with increased prospects for single-digit growth.

Please contact the TCCC If you would like to acquire a full copy of Khun Pimpaka‘s luncheon presentation

Chamber President. Mr. John Casella presenting Khun Pimpaka Nichgaroon, Head of Research - Thanachart Securities with a TCCC speaker gift.

Amantee