INFORMA October Issue

Vol. October 2010

GEMOPOLIS T H E G AT E WAY T O S U S TA I N A B L E INVESTMENT IN ASIA

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F O U N D AT I O N

S I M E S T B U S I N E S S PA R T N E R F O R G L O B A L C O M P E T I T I O N

THAILAND E C O N O M I C R E V I E W

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Thai-Italian Chamber of Commerce

President's Message

PRESIDENT Mr. Ekkamon Hutasingh - Tesoro Co., Ltd. Tel: +66 2 719 5416-7 Fax: +66 2 719 5415 E-mail: tesoroth@truemail.co.th VICE PRESIDENTS Mr. Lino Geretto - LGV Engineering Co., Ltd. Tel: +66 2 255 8717-8 Fax: +66 2 255 8716 E-mail: info@lgveng.com

Mr. Ekkamon Hutasingh President Thai-Italian Chamber of Commerce

Mr. Luca Vianelli - MDA Consulting SEA Co., Ltd. Tel: +66 2 652 2447 Fax: +66 2 652 2448 E-mail: lvianelli@mda.it DIRECTOR & HONORARY TREASURER Mr. Chakrit Benedetti - Italasia Electro Co., Ltd. Tel: +66 2 261 7990-9 Fax: +66 2 261 8700 E-mail: italasia19@hotmail.com DIRECTOR & HONORARY SECRETARY Mr. Yongyudh Teeravithayapinyo - Jewelry Network Co., Ltd. Tel: +66 2 664 8358 Fax: +66 2 664 8373 E-mail: yyudh@koola.com DIRECTORS Mr. Chayaporn Phronprapha - Italsiam Motors Co., Ltd. Tel: +66 2 612 4400 Fax: +66 2 612 4411 E-mail: chayaporn@italsiammotors.com Mr. Gianmaria Zanotti - Zanotti (Thailand) Ltd. Tel: +66 2 636 0002 Fax: +66 2 636 0221 E-mail: zanotti@loxinfo.co.th Mr. Giuseppe Zigrino - K+Z Corporation Ltd. Tel: +66 34 381 313 Fax: +66 34 381 717 E-mail: sales@kzcorp.com Mr. Mario Bracci - Asia Cement Public Co., Ltd. Tel: +66 2 641 5600 Fax: +66 2 641 5680 E-mail: m.bracci@acc.co.th Mr. Nino Jotikasthira - Turismo Asia Co., Ltd. Tel: +66 2 245 1551 Fax: +66 2 246 3993 E-mail: nino.j@turismoasia.com Mr. Pichai Chirathiwat - Central Trading Co., Ltd. Tel: +66 2 229 7000 Fax: +66 2 367 5445-6 E-mail: pichai@cmg.co.th Mr. Pierre Nicou - EUROFOOD - The Commercial Company of Siam Ltd. Tel: +66 2 261 0245 Fax: +66 2 261 0243 E-mail: pierre@eurofoodthai.com Mr. Rene Okanovic - Berli Jucker Public Co., Ltd. Tel: +66 2 367 1092 Fax: +66 2 381 4541 E-mail: rene.okanovic@bjc.co.th, rene.okanovic@thaiscandic.com Mr. Romeo Romei - Quick Pack Pacific Co., Ltd. Tel: +66 2 998 9101-3 Fax: + 66 2 531 6425 E-mail: romeo@quickpackpacific.com Ms. Tiziana Sucharitkul - Tilleke & Gibbins International Ltd. Tel: +66 2 653 5555 Fax: +66 2 653 5678 E-mail: tiziana.s@tillekeandgibbins.com SECRETARY GENERAL Mr. Sandro Zanello Thai-Italian Chamber of Commerce.

1126/2 Vanit Building II, Room 1601B 16th Floor, New Petchburi Rd., Makkasan, Rajdhevee, Bangkok Tel: +66 2 253 9909, +66 2 255 8695 Fax: +66 2 253 9896 E-mail: secretarygeneral@thaitch.org

The Informa is the bi-monthly magazine of the Thai-Italian Chamber of Commerce, covering all business activities and social news of interest to the members of the Thai-Italian community and others active in the expanding Thai-Italian bilateral relations.

EDITOR: Thai-Italian Chamber of Commerce Tel: +66 2 253 9909 Fax: +66 2 253 9896 E-mail: info@thaitch.org EDITORIAL COMMITTEE: Thai-Italian Chamber of Commerce President: Mr. Ekkamon Hutasingh Directors: Mr. Nino Jotikasthira Mr. Romeo Romei Mr. Giuseppe Zigrino Secretary General: Mr. Sandro Zanello Italian Embassy Representative: Ms. Somsri Pobpipugtra Italian Trade Commission Representative: Mr. Vincenzo Calì Dante Alighieri Association Representative: Mr. Giacomo Mauri Scand-Media Representative: Mr. Gregers Moller TICC Staff: Ms. Nalina Sutakul: Membership Executive Ms. Sukanya Kerngfak: Marketing Executive Mr. Richard Darren Bartlett: English Editor PUBLISHER: Scand-Media Corp., Ltd. 4/41 Moo 3, Thanyakarn Village, Ramintra Soi 14, BKK 10230 Tel: +66 2 943 7166-8 Fax: +66 2 943 7169 Design: Disraporn Yatprom Email: disraporn@scandmedia.com ADVERTISING CONTACT: Mr. Finn Balslev, Marketing Director Scand-Media Corp., Ltd. Tel: +66 2 943 7166 Ext: 151 Fax: +66 2 943 7169 Mobile: +66 81 866 2577 Email: finn@scandmedia.com - www.scandmedia.com Ms. Sukanya Kerngfak, Marketing Executive Thai-Italian Chamber of Commerce Tel: +66 2 253 9909, +66 2 255 8695 Ext: 103 Fax: +66 2 253 9896 E-mail: pr@thaitch.org – www.thaitch.org

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Dear Friends of TICC, During the past two months, our office received several guests from abroad, mostly from Italy.

One of our visitors was Mr. Edi Sommariva, Director General of the FIPE (Italian Federation of Public Businesses). Mr. Sommariva met with a group of Italian restaurant owners to explain details of the “Ospitalita’ Italiana” project, a project aimed at developing and improving the quality tourist-related enterprises around the world (for example hotels and restaurants) so as to guarantee consumer satisfaction. The Thai Italian Chamber of Commerce also received another important guest, Mr. Andrea Bonardi, President of the Italian Chamber of Commerce in Singapore. Mr. Bonardi was recently nominated as the Regional Chairman for the Italian Chambers of Commerce in Asia and South Africa.

Beside the official functions of our Chamber, we also participated in several inter-chamber activities at various business luncheon and seminars organized by individual Chambers or group of Chambers. Each of the events brought forward interesting subjects presented by well-known speakers. One notable event worth mentioning was the Joint Chambers Lunch Talk entitled “ROH Tax Incentives – A New Standard?” co-organized by the Thai-Italian, Franco-Thai, Danish-Thai, and Thai-Canadian Chambers of Commerce, and sponsored by KPMG Phoomchai Tax Ltd. Another important project which recently concluded successfully was the Final Seminar for the European project “PRo-GIs: Intellectual Property Right Extension & Geographical Indications Protection for the Benefit of EU-Thai Trade”. This event was a collaborative effort between the Thai-Italian Chamber of Commerce, the Thai Department of Intellectual Property, the Ministry of Commerce (DIP) and Bioagricoop. Please be sure to catch our full article on this seminar in the December issue of our magazine. As for sport activities, TICC participated in a golf tournament organized by the Joint Foreign Chambers of Commerce in Thailand (JFCCT) together with various embassies.

Finally, I wish to express my sincere appreciation to our guests and members who participated in our social activities, including our most recent networking event, the “Get-Together” at L’Opera Wine Bar on July 15. Moreover, TICC Directors and members also participated in a photo exhibition “Southwest Impressions” by Mike Michalec, which took place on September 23 at Giusto Restaurant, Sukhumvit 23. As usual, guests enjoyed a feast of excellent Italian food and wine amidst friendly company. Out of these popular events came a number of new members to the Chamber. We now proudly announce a total of 130 members.

By the time this issue arrives in your hands, I and our Secretary General will be joining the Annual General Meeting of Unione Camere and Assocamerestero organized in Parma, Italy, from October 23 to 26. I hope to bring back with me new programs and activities to report to you all in the next issue.

A presto!

Ekkamon Hutasingh President

CONTENTS Gemopolis Free Zone : The Gateway to Sustainable Investment in Asia

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The economic crisis has dealt Thailand a hard blow, a baht never so strong in the last 15 years is definitely not helping exports. Looking out of his office in Gemopolis, nevertheless, managing director Suttipong Damrongsakul thinks the future is bright.

SIMEST

Partnering Italian Business in Global Competition

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APCD Foundation Unique Expertise and Experiences of Persons with Disabilities The inclusion of persons with disabilities allows the business sector to capture a share of the market even in a tough and competitive situation.

Maserati GranCabrio The Trident's First Four-Seater Cabriolet

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TICC events KPMG Joint Lunch Talk: the opportunities offered by two new tax incentives for international companies in Thailand on Tuesday, September 14th, at KPMG, during a business luncheon organised by the company's media manager Sean Searn with the collaboration of the Thai-Italian, the Danish-Thai, the ThaiCanadian and the Franco-Thai Chambers of Commerce.

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“Private Banking makes life easier.”

The only Nordic Private Bank in Asia Pacific. www.sebgroup.com/privatebanking Tel: +65 63570895 E-mail: singapore@sebprivatebanking.com.sg 50 Raffles Place #36-01, Singapore Land Tower, Singapore 048623

Gemopolis Free Zone : The Gateway The economic crisis has dealt Thailand a hard blow and, as the country tentatively finds some stability after the recent protests, a baht never so strong in the last 15 years is definitely not helping exports. Looking out of his office in Gemopolis, nevertheless, managing director Suttipong Damrongsakul thinks the future is bright.

By Alessandro Ursic Photos by Ravan Studio Interview with Mr. Suttipong Damrongsakul, Managing Director of I.G.S Plc./ Gemopolis

“B

usinessmen involved in the jewelry sector are highly emotional: they not only need optimal conditions for their activity, but also a proper lifestyle. And here we can provide both. When you walk around, you don't feel you are in an industrial estate”. Khun Suttipong's mission is to convince foreign investors to share his vision for this industrial estate on the eastern outskirts of Bangkok, which recently opened a “Free Zone” in its core and is now planning to triple its total area in the next decade.

Established in 1990 in what was then little more than a no-man's-land to serve and accomodate the diamond, gems and jewelry industry – steadily ranking among the 5 top sectors of Thai exports - today Gemopolis is the trading and manufacturing base for over 130 companies from 25 countries (there are 9 Italian companies), employing 20,000 skilled workers on its premises. Rough and polished stones, alloys, pearls, jewelry, logistics, banking, insurance, consultancy, a training school: the whole supply chain is represented in the 500,000 square metres of this highly-guarded complex, now almost a neighbour of Suvarn-

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abhumi airport. “It is only 4 kilometres away, 8 minutes by taxi”, explains Khun Suttipong.

“You can see the planes as if they were next door, but you can't hear them”.

These are the advantages that have progressively filled Gemopolis's estate, a quiet oasis with buildings surrounded by two relaxing parks, and well connected to the capital due to the vicinity of the Outer Ring Road and King Kaew Road. The new airport has boosted the construction of new residential and commercial complexes in the surrounding areas, with the construction of 50 housing projects only in the last five years. In the same period, according to Khun Suttipong, property prices have risen by 30-40 per cent.

Since 2008, the complex has been completed with the opening of an inner “Free Zone” tucked in its South-Eastern corner, propelling to new heights the benefits offered by Gemopolis. This brand-new area is composed of two adiacent 7-storey buildings, which is why they are marketed as “the factory condominium”, offering a new opportunity to operate trading, commercial, services and manufacturing activities. Divided in flexible units varying from 80 to 2,000 square metres of office and factory space, the Free Zone offers a total of 10,000 square metres, 65 per cent of which are already taken.

Sharing the location and infrastructures advantages with the “General Zone”, the “Free Zone complex” adds a whole range of fiscal privileges, such as a 5 or 8 years (depending on the company being newly established in Thailand or not) exemption of the corporate income tax and the income tax on divided incomes received. “We are talking about the same advantages enjoyed by the industrial estates in zones 2 and 3”, says Khun Suttipong, referring to the categories set by the Industrial Estate Authority of Thailand in the various provinces of the Kingdom, with more benefits allowed the further one ventures from the City of Angels. “And this is the only industrial estate in Bangkok Capital City, a centrality crucial for high-end products. You can't have your headquarters in Chiang Mai, if you deal with jewels: you need frequent shipments and a clustering community around”.

Another exemption is granted to import duties and VAT for raw materials, semi-product, essential materials and accessories, machinery, tooling and equipments, finished product and merchandises. Moreover, foreign inventors are entitled to own land and property inside the Free Zone, with the privilege of a 100 percent share ownership and the permission to remit foreign currency out of the country. Foreign technicians and experts can also be brought in to work in Thailand.

The original name of the complex stands, but it is not only about jewelry, diamonds and gems anymore. The remaining space available in the Free Zone is open to other light industries such as the fashion industry and other high value products (watches, lens, eye glasses,

to Sustainable Investment in Asia spectacle accessories). Japan's Olympus is already producing medical equipment, and the complex is trying to attract companies dealing with telecommunication, IT, computers, electric and electronic products as well.

A future Fashionopolis or Electropolis, maybe?

The whole range of commercial, service and manufacturing activities permitted in the Free Zone would allow it to be. From assembling to re-packing to showcasing the finished products, the “Factory condominium” can accomodate it all. Privileges that have brought companies like Denmark's Pandora – a global jewelry brand – to plan to double its annual production by the end of next year.

Businessmen involved in the jewelry sector are highly emotional: they not only need optimal conditions for their activity, but also a proper lifestyle.

The unsolved political crisis in Thailand risks undermining the institutional support that allowed the concession of the Free Zone benefits to be granted. Nonetheless, now that it is come of age, Gemopolis is not scared of thinking big and plans to become a proper “city within the capital city”. Under the slogan “Work, Live, Learn, Shop, Play in one district”, the complex aims to expand to a total of 1,5 million square metres in the next 10-15 years, embracing a huge swathe of land that stretches to the western side of Suvarnabhumi.

“We call it our 'Phase Two'”, explains Khun Suttipong, pointing to the now empty grassland on the master plan. “There will be trading, commercial, residential areas: a trading center, a shopping mall complex, a hospital, an international school, several condos, a sport complex, and housing projects to serve medium and high income families”.

A building project for a hotel – handy for an area at the moment almost devoid of structures granting temporary accomodation, despite its vicinity to Suvarnabhumi – is predicted to start by 2012. The opening of the long-delayed international hub and the progressive dismissal of Don Meaung aiport, it goes without saying, makes the Gemopolis management think that the area will become more and more central as years go by. “In Europe, when an airport opens, people move away from it: in Thailand it's a magnet that make them flock around it”, states Khun Suttipong.

It only takes half an hour from here to the city centre, and the recently opened Airport Link has just added another option: Lat Krabang station, the last one before Suvarnabhumi, is only a few minutes away by taxi, allowing to cut out the quagmire that roads in Bangkok too often become during weekdays. Khun Suttipong has great hopes for another highway project, which hopefully will come true in the next decade: extending from the city centre to the southern side of Gemopolis, when completed, it will provide an ever quicker access to Suvarnabhumi.

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The Overview on Gems & Jewelry Sector in Thailand

By Mr. Chotiwat Lattaphanit from Gem Creations

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one are the golden years: you are likely to hear that from many entrepreneurs, after the last recession and the current feeble recovery. But in Chotiwat Lattapanit's case, this idea conveys multiple meanings. For the jewelry sector, the crisis coincided with a sustained boom in the price of gold, generational shifts in the consumer's behaviour, and the emergence of new trends in previously neglected markets. Although the business environment is tough, there are still many opportunities to be successful if the jewelmarkers repositioning their business strategy to accomodate the change correctly.

“Older generations valued the size and the raw material more than everything else.

Traditionally Thai people used to collect gold as investment so they would buy gold chain necklace when they have extra money”, explains the young manager of the family-owned Gem Creations. 15 years ago you really do not have much of things to carry around with you when you go out. The ladies would have only their wallets and handbags for their cosmetic and that’s it”. So back then jewelry was one of the way individual status. The more wealth you have, the more diamonds or precious stones you put on.

However, all these have long changed.

Today there are many products that complete with jewelry for symbol status. Apple computers and its mobile gadgets are a very good example. Not only these products are useful, but

Apple also has successfully convey an image of being “Hip and Cool” in all products. Hence, Apple as a Brand becomes a status symbol and a good example of branding power. That is where, Khun Chotiwat believes, building up a branded jewelry with clear identity is the key to success even in this tough business environment. People are looking to wear jewelry that can tells who they are so if your branded jewels can do this, people will definitely buy.

Founded in 1982 and currently employing over 300 workers, Gem Creations has applied this philosophy selling its jewels in Europe, the United States, and now to the growing Asian markets. The company is a regular presence at trade fairs in Vicenza, Italy, and view the Belpaese – which takes up nearly 20 per cent of its sales – as a strategic opportunity, despite the economic stagnation that made Italians all the more price-conscious. “In Italy, creativity is rewarded. Customers are open to new designs, while the American market – especially in middle America, where you get the bulk of sales – is more traditional. What we sell in Italy is accepted by Americans only after five years.

They need to digest the novelty”.

The emergence of Asian markets, “especially the ones with a big agricultural sector, which profited from the boom in commodity prices”, brought in a new nouveaux riches dimension. “Some Chinese customers just walk into a jewelry shop and ask for the most expensive item. No fuss about design or style”, adds Khun Chotiwat. Which is probably not the most

rewarding behaviour for a jewel designer, but it can prove a boon at a time when the price of gold is at its historical highest.

A decade ago, an ounce of gold fetched less than 300 dollars. Today it hovers around 1,300 dollars, a prolonged rise turned seemingly unstoppable amid the financial markets crisis. At the same time, providing a double shock for the sector, the economic recession made people more price-conscious. Jewel manufacturers felt the pinch: “To contain costs, you need to add other materials: silver, titanium, steel. Moreover, costs must be scrutinised at every step of the production chain”. The surge in the price of gold represents a cash-flow nightmare for many companies. “You need more capital to operate: if you need to pay your gold four times what you would have paid seven years ago, you can't expect banks to fill in for the whole amount”, adds Khun Chotiwat.

Some cuts on design, too. But this choice goes against the new role that jewels play.

“In the '80s, you would buy a necklace just to wear it for a gala dinner. Today, jewels are more practical, functional, for an everyday use: they have become part of your look. They tell people who you are”, says Khun Chotiwat.

That is why, despite the mounting difficulties for the jewelry sector, Gem Creations still believes there is room for growth and new investments, provided you revise your business model and bet on creativity. To prove that, the company plans to launch a new brand in Italy soon, joining hands with a local partner.

GEM CREATIONS LIMITED 299 Moo 4 Soi EPZ 3/2 Nikom Ladkrabang Chalongkrung Rd., Ladkrabang Bangkok 10520 Tel: 02-739-7000 Fax: 02-739-7203 Website: www.gemcreations.co.th Email: info@gemcreations.com

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SIMEST, Partnering Italian Business In Global Competition Mr. Federico Donato, Head Manager of SIMEST office in Singapore, joined a meeting with TICC on Friday 3rd September. The aim of the meeting, during which Mr. Ekkamon Hutasingh, TICC President, Mr. Lino Geretto, TICC Vice President, Mr. Giuseppe Zigrino, TICC Director, and Mr. Sandro Zanello, Secretary General, were present, was to introduce SIMEST opportunities to Italian entrepreneurs, and to study case by case, if their companies are eligible to be part of SIMEST program. Beside future programs, the possibility to organize business luncheons and seminars for Italian investors was also discussed.

SIMEST Co., Ltd., under the Italian Ministry of International Trade, promotes Italian investments and offers services for the internationalization of Italian businesses worldwide, providing advices on all types of operations

(L-R) Mr. Lino Geretto (TICC’s Vice President), Mr. Federico Donato (Head Manager of SIMEST office in Singapore), Mr. Ekkamon Hutasungh (TICC’s President), Mr. Giuseppe Zigrino (TICC’s Director)

overseas. They have become a reference point for Italian businesses since 1990.

The range of services that SIMEST could offer Italian entrepreneurs are as follows. First of all, SIMEST can take shares in the company equity, whether all the shares are held by Italian businesses or some of the shares are held by local partners.

Moreover, SIMEST could offer assistance on the financial and legal sides, by offering technical support and professional consultancy services for Italian businesses during the implementation of the internationalization

process. SIMEST could also provide Export Credit Support. This support enables Italian investment goods exporters to offer overseas buyers/clients medium-long term deferments of payment under competitive conditions and interest rates.

Standing alongside Italian businesses in all phases of development, SIMEST could respond to other fringe business needs: advisory services and funding support, foreign market analyses, market penetration in non-EU countries, participation in international tenders, and exporting of instrumental goods.

Mr. Jean-Jacques Bouflet moved to the EC Delegation to Vietnam

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r. Jean- Jacques Bouflet, Minister Counsellor, Trade Section, Delegation of the European Commission to Thailand has moved to EC office in Hanoi, Vietnam last September to assume the position of Minister Counsellor – Head of Section.

We would like to express our sincere thanks for his dedicated support on the occasion of the project PRo-GIs: Intellectual Property Right extension & Geographical Indications protection for the benefit of EU-Thai trade, in addition to his active participation in all TICC activities. Finally, on behalf of the Thai-Italian Chamber of Commerce, we would like to welcome his successor Mr. Antonio Berenguer and wish him a successful career and good stay in Thailand.

Mr. Jean-Jacque Bouflet at the last TICC’s Get-Together

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Regional Operation Headquarter A Regional Operating Headquarter (“ROH”) is a locally incorporated company that carries on business in Thailand and provides services to its associated companies or branches. ROH can be established as a foreign majority own company or 100% foreign owned company in Thailand for rendering certain supporting services to its other branches and associated enterprises and performing following services in Thailand.

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he terms “associated enterprises” refer to any entity that holds at least 25% of the shares in the ROH, or vice versa; or has the power to control or manage the ROH; or is otherwise controlled by the ROH. In addition, if the entity also holds at least 25% of the shares in the ROH and another company, or has the power to control or manage the ROH and such other company, such other company will be deemed as an associated enterprise of the ROH as well.

entitled to tax privileges as an ROH as well as other privileges under the Board of Investment (“BOI”) must apply for investment promotion privileges from the BOI prior to notifying the Revenue Department.

Privileges and Incentives Once qualified as an ROH, the company may enjoy the following tax privileges and incentives:

ROH’s Qualifying Criteria

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There is a broad array of tax and non-tax privileges that an ROH may enjoy under the law. However, the ROH has to meet the following criteria:

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1. It must be incorporated as a company under the laws of Thailand, and have a minimum paid-up capital of Baht ten million on the last day of each and every accounting period; 2. Its income has to be earned by providing any of the following services (“Qualified Services”): -

Business administration, planning and co-ordination, Procurement of raw materials and parts, Research and development of products, Technical assistance, Marketing and sales promotion, Regional human resources training, Financial advisory services, Economic and investment research and analysis, Credit management and control, and Other services as prescribed by the Director-General of the Revenue Department.

3. It must provide services to its branches or associated enterprises in at least 3 countries, excluding Thailand; 4. It must earn at least one-half of its entire income from its overseas branches or associated companies, except for the first 3 accounting periods starting from an accounting period that the company informs the Revenue Department of its ROH status in which the proportion may be reduced to at least one-third of the entire income.

5. It must notify the Revenue Department after the ROH is set up in order to be qualified for tax privileges. However, it is to be noted that any foreign company wishing to be

Tax exemption for all received and payable dividends Corporate Income Tax reduction from 30% to 10% of net profits on

(1) income received from the Qualified Services rendered to its branches or associated enterprises that are based in Thailand or overseas, (2) royalties on the ROH’s Research and Development work carried out in Thailand, and (3) payable interest for loan provided by its overseas branches or associated enterprises -

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Depreciation and amortization of fixed assets can be made at 25% of cost value in the first year of acquisition and the rest can be spread out for 20 years.

Expatriates working for the ROH in Thailand can opt to be subject to 15% withholding tax instead of the normal 0-37% progressive rates of the Personal Income Tax while expatriates working overseas will be exempted from such Personal Income Tax.

As already mentioned above, an ROH may also seek for promotion from the BOI as well. If promoted, the ROH will enjoy several other tax and non-tax privileges under such promotion, e.g. exemption of import duty on machinery and equipment used in research, development, and training, permission to own land, hiring of expatriates, and repatriation of foreign currency.

For further information, please contact Ms. Mallika E.S. Margherita mallikam@mail.ilct.co.th or Mr. Karinevidch Olivero karinevidcho@mail.ilct.co.th at International Legal Counsellors Thailand Ltd. Telephone 02-679-6005 or Fax 02-679-6041-2

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Baan Unrak Children’s Home Combine over thirty rambunctious, growing boys with some of the wettest weather found in all of Thailand and what do you get?

One sad building structure.

Around this time last year, Baan Unrak Children’s Home in Sangkhlaburi, a small town in Thailand located 22 kilometers from the Myanmar border, faced such a riddle. After enduring five years of happily growing children and a rainy season that lasts nearly half of every calendar year, the building structure that housed a portion of Baan Unrak’s boys looked like it had fallen victim to the big bad wolf.

Baan Unrak is not only an important but very necessary structure in Sangkhlaburi.

So Ms. Donata Dolci, the founder and executive director of Baan Unrak, doesn’t let things like money stand in the way. An Italian native, Dolci’s lifelong commitment to humanitarian efforts means constantly searching for enough funds to not only keep her doors open, but to provide the best possible life for her children.

And for now, Dolci has been lucky.

As most parents can attest to, children are the most rewarding part of human life; however, they are not cheapest. Recall the many broken dishes, ruined furniture, and physical damage endured during your child’s life. Multiply this by one hundred and thirty. That is one expensive, albeit understandable, bill Baan Unrak faces.

But what is there left to do but humbly accept this minor speed bump in the ultimately joyous journey of raising children and to replace any vital materials?

But what if the money is not there to restore such items?

Unfortunately, Baan Unrak suffers from the same NGO fundraising woes found all over the world. The current financial predicament has put many donor-reliant organizations on shaky grounds and Baan Unrak is no exception. The

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pressure is on and there is little to do but hope that donors will retain generosity even if they, too, are troubled by the economic recession.

While downsizing, cutting costs or shutting down the doors of an NGO due to lack of funding is always upsetting, any serious changes or inabilities to fix crucial structural damages has a devastating effects for Baan Unrak. After all, the organization provides a home, food, education and healthcare for over one hundred and thirty orphaned children and fifty single women mainly of refugee status.

Additionally, it provides jobs for some of the most disadvantaged individuals and medical and other necessary relief for individuals and villages in dire need of aid. Although it is almost unbearable to think about what these hundreds of individuals would do without Baan Unrak, it would be more than reasonable to believe that

When the Italian Chamber of Commerce, heard about the boys’ home predicament, contacted Mr. Mario Bracci, Managing Director of Asia Cement Company Limited in Bangkok. In a sweeping gesture of generosity, Mr. Bracci decided to donate thirty-six and a half ton of cement, enough to equip Baan Unrak’s construction team with all the cement they need for the job.

Thanks to this, the future of the boys’ home quickly went from dubious to under construction.

Even though the threat posed by the financial crisis has put many NGO’s into a nervous sweat, the children and women of Baan Unrak and the rest of the community that it serves can rest soundly with a resolute faith that generous donors, like TICC staff and Mr. Bracci will continue to recognize and support the organization’s vital mission. Tonight, the boys of Baan Unrak will sleep to images of a new, brighter home in their near future.

Inclusive Business: “How to Go Beyond CSR?” Inclusion of Persons with Disabilities in Business as Customers and Workforce

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omen and men with disabilities can and want be productive members of society. In both developed and developing countries, promoting more inclusive societies and employment opportunities for people with disabilities requires improved access to basic education, vocational training relevant to labour market needs and jobs suited to their skills interests and abilities with adaptation as needed.

Many societies are also recognizing the need to dismantle other barriers – making the physical environment more accessible, providing

information in a variety of formats, and challenging attitude and mistaken assumptions about people with disabilities Productive and decent work enables people with disabilities to realize their aspirations, improve their living conditions and participate more actively in society. Ensuring a disability perspective in all aspects of policy and labour legislation, effective implementation and enforcement of existing disability laws and policies and providing for equal employment opportunities and training are among the factors that contribute to the reduction of poverty and to the social and economic inclusion of people with disabilities in Thailand.

Current Situation “There are 650 million people with disabilities in the world, about 10% of the world population” says Mr. Monthian Buntan, member of the APCD Executive Board. Then, he remarks, “If your business includes persons with disabilities as customers and workforce, 650 million people can be the target of your business. All business looks for talented, capable and knowledgeable people. There are more than 600 million people to be chosen since they have had unique experiences which can be the entry point of new ideas. Business should be open its door to attract potential market opportunities and talented workforce with disabilities.”

According to United Nations ESCAP survey 2009, there are about 1.9 million people with disabilities in Thailand, about 2.9% of the total population. Among this percentage, about 71.5% of people with disabilities are unemployed, and 67.82% of school-age people are provided education.

Results from an outlook conducted by Mahidol University published a few years ago indicate that more than half of school-age people with disabilities in Thailand are males (62.1%), and more than half are those in age group of 18-25 years (57.50 %). Most of them had been disabled since birth (63.6%). Considering types of disability, it was found that the highest is among intellectual or learning disability (35.8%), hearing or communication disability (15.6%), visual disability (8.1%) and mental or behavioral disability (6.9%). The largest group of people with disabilities in Thailand (43.1%) became disabled when they were 60 or older, followed by people of working age, between 25 and 59 years, with 31.3%. Only 12.8% were disabled from birth or in their first year; and around 240,000 disabled persons are faced with severe difficulties in taking care of themselves.

Price of Exclusion (Global GDP Loss of US$1.37 Trillion to $1.94 Trillion*) China

Thailand

Vietnam

No. of Persons with Disabilities (Millions)

82.96

1.87

N/A

Workforce (Millions)

34.93

0.91

7

Employed Persons with Disabilities (Millions)

17.08

0.64

4

Economic Losses (Million US$)

32,062

1,417

1,821

-Disabling Environment (Million US$)

12,092

264

1,179

-Exclusion from the Labour Market (Million US$)

19,970

1,154

642

Source: WHO, World Bank, ILO

October 2010

15

Unique expertise and experiences

T

he inclusion of persons with disabilities allows the business sector to capture a share of the market even in a tough and competitive situation. Persons with disabilities are also a significant potential market, especially for certain products and services. Persons with disabilities are customers with special needs and demands that can create new business opportunities in an innovative way.

This is the driving force for many products and services.

By focusing on disability as an asset, the business sector can gain unique expertise and experiences which can help provide products and services with special values. The more persons with disabilities are included in the market and workforce, the more your business can take advantage of market opportunities and high performance.

As an emerging trend, “Inclusive Business” is, in other words, “Business for All”. To be pioneers in a competitive market, any business needs to have an innovative business strategy. Since the world is moving toward an inclusive market, society should include everyone as customers and workforce.

You can generate more income in the market and provide better business performance if it is accessible and available.

This includes the physical environment, information and an attitude for all including elderly persons, pregnant women, children, and persons with disabilities since they are potential customers and a workforce like everyone else in our society.

Do we consider their purchasing power as potential customers? Do we recognize their talents as potential employees?

Are persons with disabilities your customers and workforce

I

nclusive Business is a new business strategy. It drives the expansion of the market and business opportunities by including all potential customers in the market. Inclusive Business can benefit human resource development by including all the potential talented workforce.

Success stories have proved that Inclusive Business can capture and create economic growth and business opportunities. By making your business more accessible to products, services and job placements, your business can add more customers as well as more a varied workforce that can make your business more proactive. Businesses that open their doors to persons with disabilities can take advantage of being pioneers.

Business Roundtable Discussion at the United Nations Conference Centre

Start now, otherwise you will be too late

A

sia-Pacific Development Center on Disability and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), in collaboration with Japan International Cooperation Agency (JICA) organized the Senior Officials’ Meeting on South-to-South Cooperation on Disability at the United Nations Conference Centre in Bangkok, Thailand from 19 - 20 August 2010. Representatives from the business sector and media were invited to participate and present their success stories. They included SM Supermalls, shopping malls in the Philippines and Air Asia, a low-cost airline in Malaysia as well as a business roundtable discussion on “Inclusive Business: How to Go Beyond CSR?”. The participants had an intensive discussion on how to include persons with disabilities as customers and workforce in an innovative way.

Results of the Roundtable Discussion were summarized in an “Inclusive Business” Brochure.

For further details, please contact: Asia-Pacific Development Center on Disability (APCD Foundation) APCD Bldg., 255 Rajvithi Rd., Rajthevi, Bangkok 10400 Thailand Tel: 66-(0)-2354-7505-8 | Fax: 66-(0)-2354-7507 Website: www.apcdfoundation.org | Email: info@apcdfoundation.org

Note: *Evidenced-based Documentation (Story-based Knowledge Management approach) on Success Stories of SM Supermalls from the Philippines and Air Asia from Malaysia, and Inclusive Business Brochures are available on request free of charge.

16

October 2010

of persons with disabilities

TICC President, Mr. Ekkamon Hutasingh, with UNESCAP-APCD Meeting Participants

Business Roundtable Discussion at the UNESCAP-APCD Meeting 2010 Theme: Socially Inclusive Business Development “How to Go Beyond CSR”?

APCD Background “Asia-Pacific Development Center on Disability” (APCD) is a regional center on disability and development established in Bangkok, Thailand as a legacy of the Asian and Pacific Decade of Disabled Persons 1993-2002, under joint collaboration of the Ministry of Social Development and Human Security, the Royal Thai Government and Japan International Cooperation Agency (JICA), the Government of Japan.

In collaboration with more than 30 countries in the Asia-Pacific region, APCD is currently managed by the APCD Foundation under the Patronage of Her Royal Highness Princess Maha Chakri Sirindhorn.

APCD has been endorsed by the United Nations Economic and Social Commission for Asia and the Pacific as a regional center for its Biwako Millennium Framework for Action towards an Inclusive, Barrier-free and Rights-based Society for Persons with Disabilities in the Asian and Pacific Decade of Disabled Persons, 2003-2012.

October 2010

17

Thailand Economic Review As the world economy recovers from the last crisis, many Asian countries are growing stronger than ever.

In 2010 the Thai economy expanded at a faster rate than anyone expected, and as a result almost all Thai and international economic institutions revised their previous forecasts.

The Author

Narciso Podda narcisopodda @ hotmail.it Narciso Podda, was born in Nuoro, Italy, in 1986. Bachelor Degree in Business Administration from Bocconi University, and Master Degree in International Economics and Finance from Chulalongkorn University.

His main areas of study are: international macroeconomics, monetary economics, trade and economic development policies. He is particularly interested in the application to the East and South-East Asian region.

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s Finance Minister Korn Chatikavanij said in August, the Thai economy may expand as much as 8% this year--the fastest pace for growth since 1995--and even if there is still political uncertainty, a strong 7% can be expected.

Among the various driving forces, exports should be considered the one with the strongest impact. A peak was reached in June with a year-on-year growth of 47.1%. In July and August this path slowed down; growth was “only” 21.2% and 23.9% respectively.

From January to August 2010, exports totaled US $125 billion and imports $119 billion, resulting therefore in a trade surplus of 6.08 $billion. Even if year-on-year growth in August marked a slowdown from June (to 32.6%), the Ministry of Commerce is confident that this year exports will achieve their goal increasing by 20% and so earning $ 183 billion.

Exports expanded consistently in nearly every sector, with only agriculture lagging behind. Even if growing in terms of value, agriculture contracted in term of volume, in particular because of increased competition from Vietnamese rice. However, the positive trend of external consumption seems to continue, with benefits in the overall economy.

Production expanded accordingly, showing a peak in June but still growing afterwards.

Internal consumption is also expanding; after an initial increase at the beginning of the year, it slowed down in April and May, before coming back strong in June, July and August. All indicators are positive and suggest a current robustness of the economy.

Accordingly, the automotive sector is strong. In July, year-on-year passenger car sales grew by 68%, motorcycle sales by 32.3% and commercial car sales by 43.5%. As a result, investor confidence in the Thai automotive industry is solid. As vehicle demand is growing, Toyota Motor Thailand recently announced the expansion of its Chachoengsao province plant for the production of 200,000 units per year, with an investment of 4 billion baht. Additionally, in early July Ford Motor Company

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announced its decision to invest 15 billion baht to build a passenger car plant in Rayong, and Mitsubishi Motors Corp. said that it intends to build a 15 billion baht eco-car production plant in Chonburi province. The BOI has been incentivizing investments in the production of eco-friendly cars. The Thai automotive industry, as is well known, offers many advantages, and with the right policies and implementation procedures from the government, Thailand is expected to acquire an important role also in this new eco-friendly segment.

But the automotive industry is not the only sector performing well. Investments are growing in all industries and the business sentiment index in the overall economy is positive. The private investment index showed a positive trend during all Q1 and Q2 sub-periods of 2010, as business recovers from the slowdown in 2009.

Political unrest in March, April and May seems to have had little impact on the economy overall. As would be expected, tourism was one of the hardest-hit sectors. However, after the major impacts in April and May, tourism seems to have recovered.

At the end of July the number of foreign tourist arrivals in Thailand totaled 1258000 persons, an increase of 14.9% from last year, thanks in particular to the rising number of visitors from China. This trend contributed to the income of some regional economies highly dependent on tourism; for example, hotel occupancy rose by 37.3% in June and by 46.9% in July.

As Thailand is moving with good momentum, the Bank of Thailand, on July 14th and then on August 25th, decided to raise the interest rate by 0.5% to 1.75%; it was since April 2009 that the BOT has kept the cost of borrowing as low as 1.25% to stimulate the economy.

But at present the economy is growing at a steady rate and returns on investment are high, and there was a need to reduce the monetary stimulus to avoid inflationary pressure. The BOT is expected to further revise the interest rate in the near future. Because of higher returns, the increase of capital inflow is expected to further support the appreciation of the baht.

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18

October 2010

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Baht-Man Superpowerful Lately the baht has shown significant and continuous appreciation. Here is a brief insight on causes, effects on the economy and future prospects.

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n August 2009 the average exchange rate was 34.0227 baht to the dollar, and 48.5433 baht to the euro. This past August, it was at 31.7443 and 40.9373 baht, respectively. Since last October its value has increased by 8.7%. Among the factors that contributed to this strengthening: (1) growth of exports; and (2) increased capital flows into the stock and bond markets as investors’ confidence improved in tandem with the global economic recovery. Despite political tensions around mid-quarter, Thai exporters helped lift up the currency by selling US dollars in large amounts. Towards the end of 2010 Q2, as political tension slowed, the baht became even stronger.

This positive trend was amplified compared to the euro and pound sterling because of the bad momentum of these currencies. The euro started its depreciation path at the end of 2009 with the well-known European sovereign debt crisis. The downgrading of Greece because of high government debt generated alarm in the financial market, and also created concern as to the solvency of other EU countries, in particular Portugal and Spain. In May, the euro reached its lowest level in 4 years against the US dollar. Only after a strong intervention by the EU the situation begin to stabilize, and investors are more confident that measures to resolve the European debt crisis will help contain the problem, preventing it from affecting global economic recovery. Along with the euro, the British pound depreciated due to negative internal factors such as a weak fiscal position and political instability.

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appreciated against the US dollar. In terms of magnitude, the baht come second only to the Malaysian ringgit. Two major reasons for the strong appreciation of the ringgit are: (1) the “New Economic Model” reform caused a strong capital inflow; (2) the central bank policy to allow the currency to move more freely caused the market to anticipate a future appreciation.

Moreover, particularly important was the appreciation of the yuan after June 19th, when the Chinese central bank announced that it would allow the currency to move more flexibly in accordance with market mechanisms; even if this is Beijing’s official position, the market is reluctant to believe that China will let the currency appreciate much.

According to Kasikorn Bank (Thailand’s third-largest lender by assets), the baht will climb to and stabilize at 30 to the US dollar by the end of 2010, revising its forecasts from an expected 31.5 to the dollar. The currency is expected to appreciate at around 8% in 2010, the best annual performance since 2006. Both Current Account and Capital Account are solidly positive, indicating that more money is flowing into the country than is being withdrawn. Moreover, overall recovery in the world economy and the increase of the interest rate by the Bank of Thailand are expected to further support these two components in the short term.

Therefore, if there won’t be any intervention or major changes to the current situation, the Thai baht is expected to remain strong throughout 2010.

Another important currency for Thailand, the Japanese yen, moved in a different way.

After an initial appreciation of the baht before May, leading to a 0.34 baht – yen rate, the situation changed and the Japanese currency gained in value against almost all others, ending at 0.377 to the baht. Since the middle of September however, the trend has inverted again. On September 15, Japan’s central bank intervened in the currency markets, spending close to US $12 billion in an effort to lower the yen. Therefore the baht appreciated and is now at around 0.35 to 1 yen.

As in Japan, a strong baht may become a problem for Thailand, a country where exports account for about 65% of the GDP. An appreciated currency means in fact more expensive exports, and therefore less demand. Unlike in Japan however, the Bank of Thailand on September 20th stated that they won’t intervene in the currency market, but will try to reduce pressure on the baht by easing capital outflow.

Thai exports lately have been damaged by an appreciated currency, but there were also some factors that contributed to soften this negative impact: (1) Thai exports have high import content, in particular in the automotive and electronics sectors, and a stronger currency makes these imports cheaper; (2) the currencies of other key competitors have also appreciated.

In fact, in 2010 Q2 most regional currencies

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19

Interview with Mr. Andrea Marcon The new Honorary Consul of Thailand to Venice Among your many roles and responsibilities, I believe that the Honorary Consul of Thailand to Venice is one which has brought you great satisfaction. Could you please tell us what are the main functions of the Consulate in Venice?

May I express my personal happiness for this important appointment; I’ve been involved in many relations with Thailand in various occasions and business for a long time now and the appointment to Honorary Consul of Thailand for Triveneto is a re-starting landmark. Consular activities mainly consists of assistance to Thai citizens, passport visas, link between Thai and Italian authorities i.e. embassies, ministries, DEP, BOI, Etc.

Venice is no doubt one of the most important historic and cultural centers of Italy, and of the world. What are some projects in the area of culture which you have initiated?

Venice welcomed a first Royal Thai visit over 100 years ago and this anniversary was taken last year as an occasion to pr5omote Thai culture and presence in our territory with a re-enactment of the Thai Floating Market near Rialto Bridge held in July 2009.

The 3 days event gave resonance to Thai traditions, culture and handicrafts; in cooperation with various Thai institutions such as the Royal Embassy in Rome, DEP in Milan and Others, there will be planned other events scheduled for 2011.

As Palakiss has several businesses in Thailand, and you have visited Thailand many times, in your opinion, what are some of the similarities and differences between the Thais and the Italians?

Mr. Andrea Marcon CEO of PALAKISS

I believe that 140 years of diplomatic relations between Thaland and Italy already state a matter of fact; both people are very enterprising and careful about values such as care of family, friendship and cordially. I find that with Thais, Italians have less difference than with oriental people.

What is the relationship between Venice and Thailand in terms of trade and commerce?

We are engaged in the set-up of a structure to support the possibility of creating continued business opportunities; we are now co-operating with various institutions for a direct flight Bangkok-Venice: new ways of communications will bring to an increase in exchange. Thailand has been a tourist travel destination for Triveneto residents for over 3 decades; we trust that an increase of the transport possibilities, also interacting for passengers and goods, both via air and sea will not only increase the two-way exchange but will also expand it to new economy branches.

What are some trade and investment opportunities for Thai entrepreneurs in venice?

Events planned for 2011 will focus on the diffusion of Thai culture in the territory: we will have operation started with Thai food bearing in mind that the fame of Italy abroad had its favorite vehicle due to gastronomy products and cuisine. Same for Thailand, we will again resonance through these important “means of transportation�.

Last but not least, what is your message to the INFORMA readers and TICC members?

We are glad to be TICC members; TICC is a most important link between economies, institutions and the entrepreneurial worlds of the two countries and we are pround to cary TICC logo on some activities, we are therefore happy to be at TICC and its members disposal for any in our territory, Thank you.

20

October 2010

New Online Service from Crisis Unit of The Italian Ministry of Foreign Affair

T

he Crisis Unit ( Unita’ di Crisi) of the Italian Ministry of Foreign Affairs has introduced a valuable new online service called “Dove siamo nel mondo” (www.dovesiamonelmondo.it).

The web-site, developed initially for tourists and travelling workers, now offers a service available to both members and non members of AIRE, who spend extended periods of time abroad or are overseas residents.

This service allows the user to input

information such as telephone numbers of emergency contacts and the location of his or her overseas dwelling using Google Maps. The information can later be used to contacts and assist the user in the event of an emergency.

The new service is free and is managed in accordance with all privacy laws. Data are used only for emergencies and will be automatically deleted after the indicated end of the journey or residency abroad.

The aim is to ease assistance in case of disasters and natural calamities and to assist

embassies in finding fellow countrymen in permanent residence overseas. This is an essential element for a timely emergency intervention. Italian citizens living abroad are invited to enroll at www.dovesiamonelmondo.it Embassy of Italy, Bangkok Telephone number: +66 (0) 22854090 E-mail: emergenza.bangkok@esteri.it For emergency situations outside of a normal business hours: +66 (0) 818256103

TICC : Professor for One Day On Friday, September 17, the Thai-Italian Chamber of Commerce welcomed a group of 17 international MBA students from the Institute of International Studies, Ramkhamhaeng University and professor Edel Lemus from Nova Southeastern University, Miami, US.

By Filippo Silvani

A

fter a welcome speech by TICC President, Mr. Ekkamon Hutasingh, TICC Vice President, Mr. Luca Vianelli talked about the Chamber and illustrated in details current and future projects.

His extensive experience in doing business in Thailand gave the students a valuable op-

portunity to deepen and further their knowledge on the Thai market. After a short break, Mr. Sandro Zanello, TICC Secretary General, focused on two important projects of TICC, namely Marketing of Italian Wine in Asia and the Pro-GIs European Project. Afterwards, Ms. Nalina Sutakul, TICC Membership Manager and Trade Analyst, gave the students a short overview of TICC membership database as well as the various benefits provided for TICC members. At the end, the students thanked all the TICC staff and presented TICC President with a Ramkhamhaeng University Institute of International Studies pennant.

The Institute of International Studies (IIS), Ramkhamhaeng University (RU) was initiated

by President Rangsan Saengsook, 12 years ago. The first program was the master in business administration (MBA) with an enrollment of 52 students of which one was an international student. In 2000 Prof. Dr. Piboon Puriveth was appointed by RU to be a director. In order to be successful he put all his efforts in three critical issues: having the best professors, the best accredited curricula, and the best reasonable tuition fees.

Diversity is the factor that makes IIS different

from all other universities in Thailand, diversity of professors, diversity of programs, and diversity of students. Nowadays the university counts international students from more than 35 nations around the world. The professors are also from different parts of the USA, Europe, and Asia.

Presently, there are 15 programs of which three are B.B.A., M.B.A., and Graduate Diploma in Teaching Profession that are taught in Chinese by distinguished professors from Peking University, Fudan University, and Yunnan University. 12 programs are taught in English by professors from well-known universities in USA and Europe. Out of these 12 programs, 4 are Ph.D. programs in Business Administration, Political Science, Educational Administration, and Law. Besides one Graduate Diploma in Teaching Profession, four Master degree programs are in Business Administration, Mass Communication, Political Science, and Educational Administration. Three are undergraduate programs in Business Administration, Mass Communication Technology, and English. Furthermore, from June 2008 IIS started to offer a M.A. in English Language.

October 2010

21

Maserati GranCabrio

The Trident's First Four-Seater Cabriolet

W It’s the top of the class. It’s the first genuine four-seater convertible of Maserati.

22 22

October October 2010 2010

hether the roof is up or down, the Maserati is a headturner from every angle. Its body is an imposing 4.8 metres long, and it makes a big impression alongside the company’s other models – the Quattroporte and GranTurismo coupé. Inside, the car is as luxurious as you would expect. Finished in leather, the seats and steering wheel are pure class. Moreover you can find generous tally of standard equipment, which includes a 30GB music hard drive and a Bose sound system.

Whether the folding canvas roof is in place or stowed away, the cabin feels calm and well insulated from road noise. The ride is smooth and the steering nicely weighted, with lots of feedback. Despite a hefty 1,980kg kerbweight – 100kg more than the coupé – the car feels balanced through corners and resists body roll well.

The GranCabrio’s most impressive attribute

lies under the bonnet, though. The engine is the same 434bhp 4.7-litre V8 as found in the GranTurismo and Quattroporte, and it throws the car forward from low revs – the benchmark sprint from 0-62mph is completed in 5.4 seconds – and screams when it hits the red line.

Plus, the noise the V8 makes with the roof down is one of the most enjoyable soundtracks in motoring. Select the Sport mode, and the experience becomes even more memorable.

The engine note gets louder and deeper, and the exhaust pops and gurgles when you lift off the throttle.

The GranCabrio is fitted with a six-speed semi-automatic gearbox, which can be left in full auto mode if you are looking for an effortless ride. Owners who’d rather change gear themselves can switch to the manual setting, and use the steering wheel paddles – although shifts are super-smooth either way.

GranCabrio it’s rewarding and engaging to drive; the most desirable model in the range.

Maserati The Brand Maserati is an Italian luxury car manufacturer established on December 1, 1914, in Bologna. The company's headquarters are now in Modena, and its emblem is a trident. It has been owned by the Italian car giant Fiat S.p.A. since 1993. Inside the Fiat Group, Maserati was initially associated with Ferrari S.p.A., but more recently it has become part of the sports car group including Alfa Romeo. Maserati is a marque that began life in a local context (Italy) but then went on to become a major international player, with representation in 57 countries (Including Thailand).

Technical Specification Displacement:

V8, 4.7L

Max Power Output: Max Engine Speed:

440 HP 7,200 rpm

Top Speed:

283 km/h

0-100 km/h acceleration: Soft Top Folding Time: Seating Capacity:

5.3 s 24 s 4

The Beginning The Maserati brothers, Alfieri, Bindo, Carlo, Ettore, and Ernesto were all involved in the engineering, design, and construction of cars, from the beginning of the 20th century; except for Mario, who was a painter and is presumed to have invented the company trademark, the trident, borrowed from the statue of Neptune in the square with the same name in Bologna.

Alfieri, Bindo and Ernesto built 2-litre Grand Prix cars for Diatto. In 1926, Diatto suspended the production of race cars, leading to the creation of the first Maserati and the founding of the Maserati marque. One of the first Maserati, driven by Alfieri, won the 1926 Targa Florio. Maserati began making race cars with 4, 6, 8 and 16 cylinders (actually two straight eights mounted parallel to one another). Alfieri Maserati died in 1932, but three other brothers, Bindo, Ernesto and Ettore, kept the firm going, building cars that won races.

Empire Motor Sport Co., Ltd. is the sole authorized Maserati Dealer in Thailand. The Company was launched by former finance permanent secretary Supachai Pisitvanich and was registered on December 2008. Our merger with Ferma Motor Co., Ltd., the Maserati sole distributor in Thailand lead us become the best service provider and specialize in Maserati.

The Maserati head quarter office and the certified services center is located in Vibhawadi-Rangsit Road which is a few minutes away from Bangkok central business district. Our services center covers more than 1,000 square meters.

Maserati showroom is located in the Siam Paragon, the biggest department store in Bangkok.

Service Our Service Center is a brilliant example of Maserati Philosophy – style and function. The seven service bays are kept spotless and are fitted with the most modern diagnostic equipment from the Maserati Worldwide Standard. All factory required special tools are ready in the stored to ensure the quality of your service.

The Recent Years The Giugiaro-designed Bora, the first mass-produced mid-engine Maserati, was presented at the 1971 Geneva Motor Show. The 1980s saw the production of a new type of car, with a relatively low purchase price but impressive performance: the Biturbo, of which over 30 different versions appeared, in coupĂŠ, 4-door saloon and spyder forms.

In 1994, the first new arrival under Fiat ownership appeared in the form of the Quattroporte. Designed by Marcello Gandini, it boasted all of the refinement, luxury and sportiness for which the marque was renowned.

At the Frankfurt Motor Show of 2009 was unveiled the latest model the Gran Cabrio. Delivery of the vehicle started in May 2010.

October 2010

23

Italians at the Court of Siam The Dante Alighieri Association is an organization of passionate friends of Italy who want to spread their knowledge of Italian culture in their adopted homelands.

Thailand is fortunate to have an active chapter running activities ranging from food and wine appreciation to historical tours. The group recently organized a tour “Italians at the Court of Siamâ€? conducted by Professor Paolo Piazzardi, the former cultural attachĂŠ of the Italian Embassy in Thailand and author of the book of the same name.

I

talian influence on Thailand began during the reign of King Rama V, who invited artists and sculptors to design buildings in Bangkok. An astute political move, the invitation was made to build stronger ties with non-threatening European countries and also to improve the stature of Bangkok as a

world class city. As a result, many Italian artists, painters and architects came to Thailand. This helped to elevate the stature of Italians in the eyes of the Thais as a cultured and sophisticated people. The Dante tour visited or passed by six sites in all, and here is a brief summary of three favorites:

Villa Norasingh, the Turret and the Lion

Villa Norasingh, by Rigotti Manfredi Tamagno

Wat Benjamahabopit or Marble Temple: Look at the back of a five Baht coin and you will see the imprint of this remarkable temple. Made of Carrara marble from Italy, this massive temple was commissioned by King Chulalongkorn for his monkhood and designed by Ercole Manfredi under the direction of Prince Naris.

Thanks to the high quality of materials and rigorous maintenance, the temple does not show its age. For the trained eye, there are a lot of intricacies to note like the gabled roof in red, the stained glass windows and the many hundred statues of the Buddha in every single style in the cloister. The best time to visit the temple is in the morning, when the resident monks hold a chanting ceremony.

Villa Norasingh (Government House): Built

by King Rama VI for use for parties and func-

24

October 2010

tions, the villa was designed to wow viewers.

The elegant edifice sits on a large manicured garden with a cannon at the centre. It is built with an asymmetrical layout in the Italian gothic style. Every room in the villa has a different arrangement and color theme. The understated elegance of the ivory room will leave

Anantasamakhom Throne Hall, by Tamagno Rigotti

The Dante Alighieri group at Villa Norasingh

the viewer in awe, while one can almost feel the pressure of running the government when stepping into the green room which is used for regular meetings. There is also a “wall of fame” with portraits of every Prime Minister since the kingdom was changed into a constitutional monarchy. Keen observers should not miss the intricate paintings on the ceiling and the carved sleeping lions on the outside.

Anantasamakhom Throne Hall: Most people will remember this monument as the venue of the celebrations of His Majesty the King’s 60th anniversary on the throne. King Chulalongkorn commissioned the construction of this building to replace the one built during the reign of King Mongkut (Rama IV.). The building in Italian Renaissance and Neo Classic style was designed by the architects Mario Tamagno and Annibale

Rigotti. The massive structure was built on a swamp that was drained for the construction and is made of Carrara marble. The Throne Hall is a two storey construction with a large dome (49.5 m high) in the centre, surrounded by six smaller domes. The domes and walls are covered with paintings by Professor Galileo Chini and Carlo Riguli depicting the history of the Chakri Dynasty, from the first to the sixth reign. Unfortunately, King Chulalongkorn died in 1910 and the building was finally completed in 1915. These days the hall hosts a permanent exhibition of artifacts made by the artisans of the Chitralada Support Foundation under the patronage of Her Majesty the Queen.

The tour passed many other notable buildings like the Victory Monument, National Gallery and Museum of Siam, ending the tour with a delectable lunch at Villa Chakrabongse.

Sitting on the banks of the Chaophraya River, this boutique hotel was the residence of Prince Chakrabongse and has been very well maintained by the Prince’s granddaughter. The gracious villa is available for private functions.

After enjoying the commentary of Prof. Paolo, the visual beauty of the architecture and the sumptuous lunch, as participants stepped out into the chaos of modern Bangkok, they felt as if the morning had been a time machine trip into a golden era of the Kingdom of Siam. Thanks to Dante Alighieri for making this trip possible.

Everyone is looking forward to many more such trips.

In addition to tours, wine tastings and lectures in English, Dante provides Italian lessons. To join Dante Alighieri email dantebangkok@ hotmail.com or call 081-6338184.

UPDATE OF DANTE ALIGHIERI PROGRAM UNTIL DECEMBER 2010 Italian Language Courses for Adults

October- November

ITALIAN HOME-COOKING course for beginners

October- November

MUSIC Concert

November

Association Dinner

15th December

For more information please call 081 6338184 or email dantebangkok@hotmail.com October 2010

25

24/7 Assistance

OUR SERVICES IN SOUTHERN THAILAND ;HPSVY 4HKL /VSPKH`Z 7YVWLY[` 0U]LZ[TLU[Z *VYWVYH[L 0UJLU[P]LZ :JHUKPUH]PHU 4HUHNLTLU[

www.krabi-spesialisten.com

>LKKPUN PU ;OHPSHUK

Lunch or Dinner at Offshore!

For enquiries check on

www.wedding-in-thailand.com

or contact +66 (0) 75 638 097-8, + 66 (0) 819797895 info@wedding-in-thailand.com info@krabi-spesialisten.com

TICC's Event:

KPMG Joint Lunch Talk

T

he opportunities offered by two new tax incentives for international companies in Thailand were discussed on Tuesday, September 14th, at KPMG, during a business luncheon organised by the company's media manager Sean Searn with the collaboration of the ThaiItalian Chamber of Commerce, the Danish-Thai Chamber of Commerce, the Thai-Canadian Chamber of Commerce and the Franco-Thai Chamber of Commerce.

Thailand now offers two new tax incentives which are possibly amongst the best incentivers in the ASEAN region.

These incentives have some attractive tax benefits but also contain a number of conditions to achieve the full advantages offered by them. Attendance at this seminar will enable you to assess the merits of

establishing a Regional Operating Headquarters and/ or an International Procurement Center in Thailand. There will also be the comparative advantage of Thailand vs. other major ASEAN countries for such ROH operations and incentives (vs. Singapore, Malaysia or Vietnam). A

detailed analysis of the technical conditions will enable international companies to make decisions whether or not to restructure their businesses to achieve the tax benefits offered under these schemes.

Southwest Impressions Photo Exhibition by Mike Michalec Giusto Italian Restaurant, Sukhumvit 23, organized a photo exhibition entitled “Southwest Impressions” by Mike Michalec in which the Thai-Italian Chamber of Commerce actively participated. The beautiful event took place on September 23 at 6:00 pm. TICC Directors presented include Mr. Ekkamon Hutasingh, TICC President, Mr. Lino Geretto and Mr. Luca Vianelli, TICC Vice Presidents, and Mr. Eugenio Collavini, TICC Advisor.

Many distinguished TICC members and friends of the Chamber also took part in the occasion, including Mr. Surasith Bunyabhisand, Deputy Director General of the Department of Industrial Promotion. Beside the outstanding photo exhibition of the American Southwest scenes, the guests were treated to an excellent Italian food and fine wines amidst a casual chat with friends and the American photographer.

Piano Concert Piano Concert by Khun Nat Yontralak’s family and members pianists shown to raised funds for “The Gift of Life Foundation” in this occasion TICC Director Mr. Mario Bracci and Mrs. Bracci made a contribution to the Foundation on behalf of ASIA CEMENT

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October 2010

TRADE SHOW International Trade Fairs in Italy ( October - December 2010 ) Exhibitions In Italy

Detail

Date

Venue/Website

INTERNATIONAL TASTE SHOW

Slow food International Exhibition

21- 25 Oct 2010

Torino www.salonedelgusto.it

67th PITTI IMMAGINE FILATI

12th International Architecture Exhibition

29 Aug- 1 Nov 2010

Venezia www.labiennale.org

MOTOR SHOW

International Cars and Bikes Exhibition.

4- 12 Dec 2010

Bologna www.motorshow.it

International Trade Fairs in Thailand ( October - December 2010 ) Exhibitions In Thailand METALEX 2010

FURNITURE WORLD 2010

THAILAND INTERNATIONAL MOTOR EXPO 2010

Detail

Date

Venue/Website

ASEAN’s Largest International Machine Tools and Metalworking Machinery Trade Exhibition

24-27 Nov 2010

BITEC, Bangkok www.metalex.co.th

Furniture, Decoration and Household facilities

18-26 Dec 2010

Queen Sirikit National Convention Center, Bangkok www.furnitureworld2010.com

International Cars and Bikes Exhibition

1-12 Dec 2010

Muang Thong Thani, Bangkok www.motorexpo.co.th

Welcome New Members Casa Grande Cucine Co., Ltd. Mr. Stefano Casagrande (Managing Director) 50/12 Soi 3/1 Moo 1 Semafakram Road, Kukot, Lamlukka Pathumtani 12130 Tel. (02) 987 7782 Fax. (02) 987 7783 E-mail: cgc_casa@asianet.co.th

Cavallino Motors Co., Ltd. Mr. Yuvapat Polpatpijarn (Marketing Manager) 2124 New Petchburi Road Bangkapi, Huaykwang Bangkok 10310 Tel. (02) 319 6109 Fax. (02) 319 6110 Website: www.cavallino.co.th E-mail: info@cavallino.co.th

F. Infinity Chalon Co., Ltd. Mr. Federico Cardini (Managing Director) 26/112 Charoenkrung 70 Wat Prayakrai, Bangkorlaem Bangkok 10120 Tel. (02) 164 2113 Fax. (02) 164 2114 Website: www.teakwoodburma.com/ www.teakwoodburma.it E-mail: fc@teakwoodburma.com; f.infinitythailand@gmail.com

Federal Logistic Systems (Thailand) Co., Ltd. Mr. Francesco Jose’ Rivi (Business Development Manager) 53 Moo 9, Talay-thong Tower, 14th Floor, Suite 1406 Sukhumvit Road, T. Tungsukla, A. Sriracha Laem Chabang, Chonburi 20230 Tel. (038) 494 144 Fax. (038) 490 558 Website: www.flsasia.com E-mail: francesco.rivi@flsasia.com

Savino Del Bene (Thailand) Ltd. Mr. Nicola Genovese (Country Manager) 27 Floor, Room 2701B 29 Bangkok Business Center Building Akamai Road, Wattana, Klong Ton Nua Bangkok 10110 Tel. (02) 714 3700-3 Fax. (02) 714 3515 Website: www.sdb.it E-mail: nicola@sdb.co.th

Thaworn Estate Co., Ltd. Mr. Prasertchai Phornprapha (Managing Director) 50/6 Moo 9 T. Pong, A. Banglamung Chonburi 20150 Tel. (038) 909 600 Fax. (038) 909 699 Website: www.siamcountryclub.com E-mail: plantation@siamcountryclub.com