BCCT Link Magazine - Issue 4 2015

Magazine of the British Chamber of Commerce Thailand Issue 4 2015

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Contents BCCT

Board of Directors 2015 CHAIRMAN Simon Matthews ManpowerGroup Thailand T: 02 2634 7273 matthews@manpower.th.com

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VICE CHAIRMEN Viriya (Boyd) Chongphaisal GlaxoSmithKline (Thailand) Limited T: 02 659 3000 viriya.x.chongphaisal@gsk.com Simon Landy Colliers International Thailand T: 02 656 7000 simon.landy@colliers.com Christopher Thatcher Anglo-Thai Legal Co., Ltd. T: 081 803 7377 christhatcher1@gmail.com DIRECTORS Ali Adam Arcadia (Thailand) Co., Ltd. T: 02 108 1822 ali@arcadia-engineering.com

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Billy Chomsakorn British Airways PLC T: 001 80044 15906 billy.chomsakorn@ba.com John Christie Ek-Chai Distribution System Co., Ltd. T: 02 797 9000 john.christie@th.tesco.com David Cumming ONYX Hospitality Group (Amari Watergate Bangkok) T: 02 653 9000 david.cumming@amari.com Stephen Frost Bangkok International Associates Ltd T: 02 231 6201/6455 sfrost@bia.co.th Andrew McBean Grant Thornton T: 02 205 8222 Andrew.McBean@th.gt.com

This Edition

Kelvin Tan HSBC T: 02 614 4000 kelvin.tan@hsbc.co.th

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Hugh Vanijprabha Rolls-Royce (Thailand) Ltd. T: 02 263 0500 Hugh.Vanijprabha@Rolls-Royce.com

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HONORARY TREASURER John Sim PKF Tax and Consulting Services (Thailand) Ltd. T: 02 108 1591-96 john.sim@pkf.com 2

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Free Trade Agreements: is Thailand out in the cold?

Expert view on TPP prospects for Thailand Nations face new community challenge

The AEC: lots of ambition, just no institutions Research leads race to sustainability New register aids investors

Fly in British style Fly with us to more than 75 destinations in Europe and experience the world-class service that the British are famous for.

Discover more at ba.com

Contents Issue 4/2015 The Link is published by the British Chamber of Commerce Thailand.

Advertising enquiries: Greg Watkins Email: greg@bccthai.com Editor: Dale Lawrence Email: dalelawrence2008@gmail.com Front cover design: GSBI Production: Scand-Media Corp., Ltd The views expressed by individual authors are not necessarily those of the British Chamber of Commerce Thailand or of the publisher. Reproduction in whole or in part without written permission from the British Chamber of Commerce Thailand is strictly prohibited.

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British Chamber of Commerce Thailand 7th Floor, 208 Wireless Road Bangkok 10330, Thailand Tel: 02-651 5350/3 Fax: 02-651 5354 Website: www.bccthai.com Email: greg@bccthai.com Greg Watkins, Executive Director

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Chairman’s Message

By the Numbers

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Executive Director’s Message

Chamber events

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Chamber News Member News

Comings and Goings Final Word

Chairman’s Message

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his is the last issue of The Link in 2015 and, with Christmas and the New Year fast approaching, we held our final T3 event of 2015 which was attended by more than 100 members and guests.

Simon Matthews

Sustaining Partners

We also had the great pleasure of listening to British Ambassador Mark Kent as he addressed business dinner gatherings in Phuket and on the Eastern Seaboard. We recently held a networking event in Hua Hin as part of our continuing commitment to be the British Chamber of Commerce of Thailand and for Thailand - not just for Bangkok.

We are now in the midst of our final burst of events, including the Joint Foreign Chamber of Commerce Prime Minister’s address luncheon, the BCCT Christmas luncheon at the Amari Watergate Bangkok and the Joint Chambers Eastern Seaboard Christmas networking at the Amari Hotel in Pattaya.

We have received encouraging feedback on our events this year. This, coupled with our sound financial status, prompts me to declare that 2015 has been a successful year for the BCCT and I take this opportunity to thank our members, our Board of Directors, our Executive Director Greg Watkins and all the staff at the Chamber HQ in Wireless Road for their support.

The Overseas Businesses Network (OBN) has also had a successful year meeting all the KPIs as well as providing a quality service to clients. We did have concerns that, with the cutbacks in UK public spending, our government grant would be removed. However, it appears now that it will be reduced gradually and that the OBN will also be able to offer flexible pricing on its services. The steering committee is working on an action plan to cover these scenarios and, once again, I express my sincere thanks to the committee members, to Greg Watkins and the OBN team for their support in 2015.

Plans for our 70th anniversary in 2016 are starting to take shape. Major events planned so far are the Life & Style Garden Party at the British Ambassador’s residence, the BCCT Big Chilli Business Awards and the BCCT Annual Lecture.

I am confident that 2016 will be memorable year for the Chamber and for our members.

Please note that the Chamber’s Annual General Meeting takes place on 28 January when we shall be presenting reports on our activities, our financial status and sharing more details about plans for the Chamber’s 70th anniversary.

This is also the date when a new Board of Directors is elected and your vote is important – so please find time in your busy schedules to attend the AGM. Finally, I extend my thanks to our 2015 Sustaining Partners, namely Tesco Lotus, Ophir, GlaxoSmithKline, Property Care Services, Standard Chartered Bank, HSBC, Pattana School and Brighton College; to our Airline Partner British Airways, and to all our supporting partners.

I wish you all a very Merry Christmas and a Happy New Year.

INTER NATIONA L SCHOOL BANGKOK

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Executive Director’s Message

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t is hard to believe that we are in the last month of 2015. This year the BCCT has grown in terms of membership, with more than 120 new members and fewer resignations/cancellations than in 2014. We are now very close, as I write this message, to the 600 members mark with close to 3,000 representatives.

Greg watkins Airline Partner

Supporting Partners

Jina and her membership team have worked very hard to secure new members, retain current members, chase late payers and also to develop our website and publications’ advertising offers.

Our upcountry outreach continued with four events in the Western Seaboard (Hua Hin), five events on Phuket, three in Chiang Mai and 16 in total on the Eastern Seaboard. Thanks to RJ and her events team, ably supported by Vice Chair Chris Thatcher and his Events Group, for their continued efforts in organising approximately 130 events during 2015 – a herculean task!

BCCT continues to lobby for change to regulations and for greater market access for members. We lobbied bilaterally as the BCCT, notably through Vice Chair Simon Landy’s position on the Executive Committee of the Board of Trade of Thailand. We lobbied multilaterally with other foreign chambers such as AMCHAM, AustCham and the Franco-Thai Chamber. We also play an active role in the European Association for Business and Commerce (EABC) and its ten advocacy groups. BCCT Honorary Treasurer John Sim is also EABC Treasurer.

BCCT is now regarded as one of the leading overseas Britchams in the Overseas Business Network initiative with UK Trade & Investment (UKTI). Although three staff left us during 2015, Khun Laddawan and Khun Pattra are working very hard to assist British companies seeking top quality business support. The opening of the British Business Centre (BBC), the installation of technology upgrades and access to support work for member services companies are some of the features that are already benefiting BCCT members. Fully equipped, and in the centre of Bangkok, the BBC is available for any BCCT member to use.

Next year, 2016, we celebrate the BCCT’s 70th Anniversary and it promises to be a hectic year. In addition to our major annual events - The Life & Style Garden Party; Lecture & Dinner and the Christmas Lunch - we will be working with BigChilli on the 1st International Business Awards & Dinner. Furthermore we will be hosting Thai-UK 2016, a celebration of Britain in Thailand, at BITEC in September. BCCT is also planning an upcountry roadshow to Korat, Buriram and Khon Kaen in 2016. This is in addition to the 120+ events that we routinely organise.

By now you should have received your annual membership fee renewal invoice.

We send next year’s invoice now so that those members who wish to pay this year may do so. Please settle this at your earliest possible opportunity. We will shortly announce a special offer for early payers but if you would like to discuss how your company can benefit more from your membership please feel free to contact me.

Please do not ignore the invoice. The more time that BCCT staff have to spend chasing fees, the less time they have to provide services to members.

W1.5”

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100% Yellow

11% Cyan

100% Magenta

65% Black

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Big thanks to the BCCT board under Chairman Simon Matthews’ leadership and thank you for your continued support in 2015. Please remember that, in almost all cases, BCCT membership is corporate and any of your employees may attend events or receive information. If you are receiving emails from BCCT please forward them to your colleagues who may be interested in participating. I wish you a happy and prosperous 2016.

cover story

Free Trade Agreements:

is Thailand out in the cold?

By Christopher Bruton

There is a lot of talk about free trade agreements these days. The much-anticipated ASEAN Economic Community (AEC) is at the point of implementation. We are all familiar with the ASEAN Free Trade Agreement (AFTA), even if many of us still don’t really know what it means. Some of us have even heard of the Thailand Australia Free Trade Agreement (TAFTA) and its New Zealand equivalent.

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any of us also recognise that Thailand still lacks free trade agreements with many other countries, notably the USA and the countries of the European Union. So if free 10

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trade agreements do really matter, then there seem to be as many blocked walls as windows for Thailand’s traders. Our trade specialists have recognised these obstacles for quite some time, but since we are

presently governed by happy soldiers rather than mournful politicians, the Americans and Europeans don’t want to talk with us, or grant us those privileges of free trade that they are granting to such

cover story highly democratic countries as our ASEAN neighbour Vietnam.

Despite having the words ‘free trade’ firmly lodged in our thoughts it came as a bit of a shock when, on October 4, 2015, bleary-eyed and visibly exhausted Trans Pacific Partnership (TPP) negotiators staggered out of their conference room in Atlanta, Georgia, announcing that they had finally reached agreement to form the long-awaited Trans Pacific Partnership. The surprise arose because the negotiations had been going on for so long. There had been such strident objections from some of the countries involved, that there was a growing belief that the discussions would never end, and the Trans Pacific Partnership deal would never emerge. Negotiators enjoy negotiating but maybe even this hardened group had finally got tired of the comfortable hotels, good food and, no doubt, peripheral activities that negotiations involve.

The TPP negotiations effectively started ten years ago, in 2005, when a previous trans-Pacific agreement began to be broadened by bringing in possible new members. The chorus originally consisted of just Brunei, Chile, New Zealand and Singapore.

But, as time proceeded, the USA, Australia, Peru and Vietnam joined the party - followed by Malaysia, Mexico, Canada and Japan to create a concert party of twelve member countries.

So where was Thailand all this while?

Whenever Thailand has a problem, the solution is to appoint a committee. The committee then appoints sub-committees which then appoint academics who write reports, referring back to the sub-committees, which then refer back to the committees. Meanwhile there will have been a coup (in this case two coups), a few elections and a succession of bureaucratic musical chairs every October of each year. In this particular case the Department of Trade Negotiations led the song-and-dance routine,

President Obama and recently re-elected Singapore PM Lee Hsien Loong (right).

along with the Department of Intellectual Property and a whole succession of academic and advisory bodies.

And they are still researching, reporting and talking - even when the party appears to have ended.

Are we too late?

It does rather look as if we are still deciding whether to buy a ticket when the train has already left the station but this is not really the case. Firstly, the TPP is designed to be an open door, accessible to additional members, provided that they conform to, or are exempted or deferred for a period from the provisions of the agreement.

It was always difficult for Thailand to join TPP during the negotiating period, because all negotiations were secret, no drafts were available, and there were known to be major challenges impeding Thailand’s entry, some of which remain in the final text.

Secondly, the supposed October 4, 2015 agreement is not final since each of the 12 countries has to gain approval from its own legislature. This may not be so easy. The two largest TPP negotiating parties, the USA and Japan, will have particular problems because big business may feel that market entry provisions and privileges are not sufficient. Labour unions may feel that less developed countries will gain too many advantages. In several coun-

tries, agriculture-related lobbies may fear excessive competition.

With the TPP agreement text now published, with all thirty chapters exposed at last to scrutiny, Thailand now at last has something concrete to talk about. With the ratification process likely to require a couple of years in at least some member countries, Thailand will have time to appoint more committees, sub-committees and commission more research report.

If the military government survives long enough the soldiers may even simply decide to join, sign up and ratify, crossing fingers and hoping for the best. Soldiers don’t always ask questions: sometimes they just shoot.

Are there alternatives to TPP? If one is contemplating marriage, it is always attractive to have the option of several marital partners. Better still if one does not have to make a choice but may marry them all. That is Thailand’s happy situation in the case of free trade agreements.

Beckoning on one side is TPP, attractive enough but a bit tough in character and with a few features that are distinctly unbeautiful. However, waiting in the wings is the Regional Comprehensive Economic Partnership (RCEP) with perhaps a bit less in

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dowry but a much more flexible character. Finally, one is already married to the ASEAN Economic Community as well as having flirtations on a bilateral basis with India, Pakistan, Turkey and a few other playmates plus hopefully yet another tryst with the European Community once one changes one’s military boots for dress shoes.

In fact, marital life in the free trade abode can be quite complicated. Included in TPP but not in RCEP are Canada, USA, Mexico, Peru and Chile. Included in RCEP negotiations but not in TPP are all the ASEAN countries plus China, India, Indonesia, Philippines, South Korea and Thailand. Countries that are already in TPP and also involved in RCEP are Australia, Brunei, Japan, Malaysia, New Zealand, Singapore and Vietnam. For Thailand itself, the only TPP countries with which Thailand does not already have trade agreements are Canada, Mexico and the USA. Thailand does not have to choose between TPP and RCEP since it is possible to marry up with both without getting saddled with incompatible features. However, there are differences.

In terms of GDP size, the presence of the USA ensures that TPP is larger, at over US$28 trillion, compared with US$23 trillion for RCEP. That means that TPP has a world share of 38 percent, compared with RCEP’s 29 percent. In terms of population, the 12

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position is reversed, with TPP having 800 million (11 percent of world population), compared with RCEP’s 3.5 billion (49% of world population and growing faster).

Advantages and disadvantages of TPP for Thailand In making the decision about whether to join TPP, one has to consider four basic factors. Firstly that this is a long-term, not a short-term commitment. Even at the earliest timeframe, it is unlikely that Thailand would be able to become part of TPP much before 2018 or even 2020. The decision to apply to join has not yet been made and might take a year or more of continuing deliberations - by which time an elected government might be in

place and ready to start rethinking the whole process. Meanwhile the 12 existing members will be deliberating their own commitments to their negotiators’ decisions on their behalf.

There is particular concern in the USA. The presidential election is less than one year away (in early November 2016). TPP is a hot election issue, not only between Democrats and Republicans, but also within the respective parties and among their respective presidential candidates.

If Thailand does decide to seek TPP membership, it will be necessary to negotiate with each one of the existing member countries. These countries may at that time be still in the process of deciding whether they themselves want to join, renegotiate,

cover story or pull out of TPP. Thailand would then have to submit a formal application and await approval from each of the members.

While it seems unlikely that any of the existing TPP members would reject Thailand’s entry, the bureaucracy will move slowly and there will be many parties to meet. By that time, Thailand’s negotiators will no doubt also be busy negotiating with the European Union on a Thailand-EU free trade agreement.

Secondly, there is the issue of the advantages and any disadvantages for Thailand’s foreign trade of joining the TPP. Already there is a realisation that foreign trade is a risky business, with declines in Thailand’s exports.

A greater emphasis is being placed on growing the domestic economy rather than relying upon export growth. However foreign trade will remain vitally important although the direction of that trade may be changing towards new markets, some of which we not in TPP. Most studies do indicate that trade with countries having free trade agreements tend to grow substantially and more rapidly than with countries without such agreements. That has certainly been established with AFTA, TAFTA and other bilateral trade agreements.

There is a need for some sort of free trade agreement with the USA, whether on a bilateral basis or as part of a multilateral agreement. That could apply whether the Thailand / USA trade relationship is governed by a multilateral or a bilateral agreement. The same problems could then arise over pharmaceuticals, intellectual property and agricultural-related issues. With Vietnam and Malaysia inside TPP, and Thailand outside, there could be significant competitive disadvantages for Thailand in respect of trade with other TPP countries, if not joining TPP. Thirdly, the decision to join or not to join is also related to investment and industrial location as well as trade in 14

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goods. Investors may choose alternative locations rather than Thailand, causing Thailand to lose part of its attractiveness as a hub for productive enterprise. Thailand is already losing some industrial activity to neighbouring countries. Some Thai companies are moving production capacity beyond borders. Accession to the TPP will not prove a total solution to this trend because it also relates to labour and other costs. But if Thailand is to become more sophisticated, relying increasingly on higher value-added to ensure export attractiveness, then it will increasingly need the benefits of free trade agreements to secure and retain competitiveness.

Fourthly, in considering entry to the TPP, Thailand will need to consider positive and negative impacts of the TPP broader requirements. This is where the TPP is likely to differ from RCEP and other bilateral trade agreements. Many free trade agreements have concerns which affect domestic markets. In negotiating TAFTA, Australia pursued hard bargaining over dairy products, resulting in a phased opening of markets in Thailand for Australian products. In the case of a European Union agreement, there will certainly be similar arguments relating to such products as wine and cheese. The Indian free trade agreement is held up by issues

of Indian human resource entry into Thailand employment markets.

The TPP is much more intrusive into the domestic market than a conventional trade agreement. Provisions require that countries conform to high standards of practice, which may be normal and acceptable in developed countries, but raise questions regarding the conventional practices and malpractices of Thai economic activity.

Much higher standards of intellectual property conformity are required.

Pharmaceutical patents would severely restrict generic products which currently give access to medicaments otherwise beyond the affordability of most Thai people. There would be limitations on compulsory licensing for pharmaceutical products.

Some of the restrictions imposed under TPP are already taking effect because of Thailand’s need to meet the standards and requirements of other countries. These include sustainable fisheries management and related fishery practices, as demanded by the European Union.

Stricter enforcement of obligations under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES)

cover story

would also be a requirement. This is already observed, after a fashion, by Thailand, but there remain flagrant abuses. Such abuses are often perpetrated by influential people, with connivance by those who are supposed to ensure enforcement.

Perhaps the greatest and most evident impact of TPP membership for Thailand might be in the area of human rights and labour relations.

Thailand is not a signatory or ratifier of some international conventions concerned with human rights and labour abuses. But even where conventions are already in force, there are often flagrant abuses. These arise especially in such areas as human trafficking, forced and slave labour, and non-observance of local labour laws.

In many cases, TPP would require more effective enforcement of many existing laws. More stringent enforcement, backed by threats of trade sanctions, would be a massive step forward for social justice in Thailand.

Such issues form the stick behind the carrot of greater market opening.

Should Thailand join the TPP? On the assumption that the twelve signatories of TPP do succeed in ratifying the agreement, which then comes into force, Thailand will have to decide whether to join the party.

Several other countries are also considering adherence, such as South Korea and Indonesia. More may follow.

Given that joining TPP is not an issue of either/or as between TPP and RCEP, entry may be considered purely on the advantages and disadvantages of TPP membership. Since there are already free trade agreements with all the existing TPP signatories except the USA, Mexico and Canada, it would mainly be a question of whether parallel, bilateral agreements might be signed with these countries as an alternative to joining TPP. Trying to finalise an agreement with the USA might well be more onerous

New Zealand PM John Key (left) and Japan’s Prime Minister Shinzo Abe.

than joining TPP and it would take a lot of time to finalise.

Independent studies to date have suggested that there are significant net benefits for Thailand to be gained by joining TPP: more bilateral trade, more competitiveness, more opportunities for innovation. Furthermore, the more committed a country is to best practices, the more likely it is to support adherence to TPP. However there are certainly concerns relating to tighter intellectual property enforcement, especially in pharmaceuticals and agro-industry, which need to be addressed. Arguments that TPP is simply a device designed by foreign big business to obtain a stranglehold over foreign markets have to be taken seriously into consideration. The net overall advantages may be with TPP. However such net advantages will not mean benefits across the board and in all sectors. There will be winners and losers.

Nevertheless, generally TPP would be an excellent device to oblige Thailand and other regional countries to get their houses in order, reach international standards, and eliminate irregular practices. It needs a strong, uncompromising policy, as has happened in the fishery sector, to oblige

both government and the private sector to adopt acceptable standards.

These will be to the benefit of everybody in the long run but will cause in evitable hardships in the shorter term, requiring government support and possibly subsidies to cover hardships suffered by the losers.

Thailand should aim to join everything in sight: TPP, RCEP, a European Union Free Trade Agreement and every other trade pact that may emerge. World experience indicates that the more open the society, the more prosperous the country along with its citizens. Thailand should certainly be among such prosperous societies.

Christopher Bruton is a Director of DataConsult Ltd., 54 Soi Santipharp Nares Road Bangkok, Thailand 10500 Tel: + 66 (2) 233-5606-7 Fax: +66 (2) 236-8143 Emails: meetings@dataconsult. co.th; info@dataconsult.co.th

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Fulfilling Potential Since 1957

Residential visits form an integral part of our curriculum for all students from Year 3 upwards.

These enrich learning, bolster personal and social development and promote the important attributes of open-mindedness, inquiry and informed risk-taking in our students.

643 Lasalle Road, Bangna, Bangkok www.patana.ac.th admissions@patana.ac.th +66 (0) 2785 2200

Bangkok Patana School is an IB World School, accredited by CIS and NEASC

Not Every Lesson is Learned in the Classroom

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angkok Patana’s Residential programme is an integral part of the curriculum for students in both the Primary and Secondary Schools. From Year 3 onwards, the carefully planned Residential visits provide unique possibilities for students to develop through experience; one of the main aims is to involve them in activities and situations which they may not have previously experienced.

Each visit, whether it be to Kanchaburi for three nights or an outdoor adventure week in Pak Chong, is designed to enhance the mainstream curriculum and provide opportunities for personal and social development.

As students’ progress through the school, the experiences they gain on Residential visits support increasing indepenence and cover the following personal and social skills: • independence and self-discipline • initiative and problem solving • confidence and self-esteem • leadership • development of sound relationships among students • the ability to enjoy the environment without destroying it • flexibility and consideration for others • ability to work with others in a team • development of sound relationships between students and staff • communication But who better to tell you about the benefits of these visits than one of the students? Here Tia, currently in Year 10, reflects on what makes the Residential programme so unique: ““How was your Residential?” A question asked hundreds of times by eager parents, at crowded airport terminals or the front of school. But for every one of us, there were hundreds of answers we wanted to give; answers that ranged from camping underneath the stars to mountain biking for the very first time, each one a new experience, a new surprise.

Answers that led to amazement from parents when they

heard that we had achieved things of which we never thought we were capable. Residentials are more than just a week’s vacation from school work, parents and uniforms. The trips are full of adventure, interacting with people around us, teamwork and responsibility.

They are more than just a time when we can stay up late, take loads of photographs and stock up on bags of candy.

They are places where you discover a side of you that you never thought existed, where you suddenly divulge qualities and skills you never knew you possessed. In the midst of it all you find yourself by losing yourself.

You leave for the Residential visit as one person and return another. An alter-ego, a new personality. A quiet, hard working introvert found himself to be an outgoing, wild and carefree adventurer. A first class traveller found herself loving a night in a cramped tent.

Every trip is a new treasure of memories - a new journey of discovery; of diverse places and people, of bonding and exploration, of confidence and courage. Every year we add a new dimension to our personality, a new facet to our character. Without realising it, right from Year 3 in Primary through to Senior Studies, Residential visits teach us what no textbook ever could. They prepare us for what lies ahead.”

Expert view on TPP prospects for Thailand At a recent meeting of Dataconsult’s Thailand Regional Forum, Dr. Rachda Chiasakul (pictured right), Director at Bolliger & Co (Thailand) presented in detail Thailand’s situation in respect of joining the Trans Pacific Partnership.

The following are her conclusions on the agreement and its specific advantages and disadvantages.

TPP Key Features Comprehensive Market Access The TPP eliminates or reduces tariff and non-tariff barriers across substantially all trade in goods and services and covers the full spectrum of trade, including goods and services trade and investment, so as to create new opportunities and benefits for our businesses, workers, and consumers.

Regional approach to Commitments The TPP facilitates the development of production and supply chains, and seamless trade, enhancing efficiency and

supporting our goal of creating and supporting jobs, raising living standards, enhancing conservation efforts, and facilitating cross-border integration, as well as opening domestic markets.

Inclusive Trade The TPP includes new elements that seek to ensure that economies at all levels of development and businesses of all sizes to benefit from trade. It includes commitments to help small-and medium-sized businesses to understand the Agreement, take advantage of its opportunities, and bring their unique challenges to the attention of the TPP governments. It also includes specific commitments on development and trade capacity building, to ensure that all Parties are able to meet the commitments in the Agreement and take full advantage of its benefits.

New Trade Challenges The TPP promotes innovation, productivity, and competitiveness by addressing

new issues, including the development of the digital economy, and the role of stateowned enterprises in the global economy.

Platform for Regional Integration The TPP is intended as a platform for regional economic integration and designed to include additional economies across the Asia-Pacific region.

Possible effects for Thailand Topics

Advantages

Disadvantages

Trade in Goods

• Increase opportunity to penetrate US market for certain products • Intermediate producers can import materials at lower price

• Thai producers may face higher competition

Drug patent / Chemical Patent

• Create incentives for foreign pharmaceutical companies to develop new drugs

• Slowdown market entry process for ‘generic drug’ • Raise concern about Compulsory Licensing (CL) • Thai pharmaceutical companies cannot use Clinical Trial to register as a generic drug

Patents of Plants and Animals

• Create incentives for farmers and other sectors to develop new plant and animal species

• Thailand has to expand Patents on Plants and animals in order to join the UPOV convention • Practices of local communities may be affected • Possibility for ‘Bio-Piracy’

Geographical Identification

• Value-added for local products originating in Thailand

• Could be exploited by foreign producers in case they improve Thai products and register them as their own products • Possibility to cause disputes from the use of geographical identification

Trade in Services and Investment

• Attract more investment from overseas • Consumers get cheaper prices and more varied products • Opportunity to expand trade in services and investment abroad

• Thailand producers face higher competitiveness level • Possible damage to the state due to investor-state disputes

Financial Services

• Service price decreases • Lower costs for capital access • More access to knowledge, technology, and financial innovation

• Higher competitive labour market • Thai workers are incapable of competing in labour market due to the lack of expertise and economies of scale

Telecommunications

• Service Prices Decrease but Quality Increases • Enhance Entrepreneur Efficiency • Increase Social welfare

• Domestic investors may face higher competitiveness levels • Increased risk for monopoly by foreign investors

Competition Policy

• Put Pressure in Implementing Competition Laws • Enhance Investment Environment • Increase Investor Confidence

• Limit SOE’s operations

Labour

• Increase Opportunity to Create the Best Working Environment for All Types and all Nationality of Labour

• May be easily used as a trade barrier • Lose competitive advantage due to low labour costs

Environment

• Enhance Environment Protection System • Support Production and Export of Eco-Friendly Products

• Increase limitation on sea fisheries • Increase possibility for disputes from the implementation of conventions; in which Thailand is a member but other countries are not • Being forced to participate in some conventions of which Thailand has not yet been a member

Government Procurement

• Increase Market Access Opportunity • Able to Join Projects of which threshold is lower than that in GPA Agreement • Increase Transparency in Government Procurement Process

• Thai investors may face higher competition level

Electronic Commerce

• Clarify some sensitive issues; such as Taxation, Digital Content, and Software • Improve Consumer Protection Laws and Regulation • Foster the development of information system security

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Your pathway to

Exam Success Your gateway to the world’s

Leading Universities IGCSE & A-LEVEL – 2015 EXAM RESULTS GRADE

EXAMS SCORED

A*/A

70% Versus 21% UK average

IG

CS

56% Versus 26% UK average

E

A- L E V

EL

%

CUMULATIVE

A* A B C D

26.1 30.2 25.7 9.3 7.1

43.0 27.0 18.6 8.7 2.2

26.1 56.3 82.1 91.4 98.5

43.0 70.0 88.5 97.2 99.4

other

1.5

0.6

100

100

A*

A*

43%

26%

3 TIMES

6 TIMES

A-LEVEL

IGCSE

UK AVERAGE

UK AVERAGE

A-LEVEL – SUBJECT HIGHLIGHTS – % EXAMS WITH TOP A*/A GRADE

Futher Maths

78%

Maths

69%

Biology

60%

Economics

76%

Physics

60%

30%

23

32%

35 7+ A*

STRAIGHT A/A*

OF SHREWSBURY STUDENTS ACHIEVED A*/A IN ALL SUBJECTS

IGCSE – SUBJECT HIGHLIGHTS – % EXAMS WITH TOP A*/A GRADE

Mandarin

100%

Art

93%

Biology

91%

Chemistry

93%

Physics

99%

OF SHREWSBURY STUDENTS ACHIEVED A*/A IN ALL SUBJECTS

Exceptional People • Outstanding Opportunities • Academic Excellence We are now accepting applications for entry into our Senior School (Years 7 – 12) in August 2016.

Please contact Ms Ilka Hodapp for a school tour by calling on 02 675 1888 ext. 1110 or email to admissions@shrewsbury.ac.th

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Nations face new community challenge The Association of Southeast Asian Nations (ASEAN) is intensifying efforts to realise the ASEAN Economic Community (AEC) and implement initiatives to achieve a single market and production base, allowing the free flow of goods and a freer flow of services, investments and skilled labour; and greater movement of capital across the region.

With over 600 million people, ASEAN’s potential market is larger than the European Union or North America.

Next to China and India, ASEAN possesses the world’s third largest labour force, characterised by its youth and dynamism. Furthermore, with an ever-growing and diverse consumer market, coupled with a combined gross domestic product of US$2.4 trillion, ASEAN will be the fourth-largest economic region in the world by 2050, according to research conducted by McKinsey Global Institute. The growth of the region’s various economies and its rising middle class speak volumes for the future as companies can tap into expanding opportunities.

With a population that is young, entrepreneurial and increasingly cosmopolitan, labour productivity is sure to increase if education and skills training are adjusted properly to meet the needs of an integrated marketplace. The availability of skilled labour and the ease of doing business and getting investments going will be crucial for foreign companies to invest in ASEAN. Foreign direct investment (FDI) last year in the five largest 20

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ASEAN economies – Indonesia, Malaysia, the Philippines, Singapore and Thailand – totalled US$128 billion, exceeding China’s FDI of US$117 billion.

On its 40th anniversary in August 2007, ASEAN adopted the ASEAN Economic Community Blueprint, which advanced the completion target to 2015 from 2020. Four pillars define the AEC: (1) creating a single market and production base, (2) increasing the region’s competitiveness, (3) promoting equitable economic development, and (4) further integrating ASEAN with the global economy.

In November 2007, ASEAN leaders also approved the Initiative for ASEAN Integration Strategic Framework and Work Plan (20092015), which is meant to bridge the perceived development divide between the older and economically more advanced members, known as the ASEAN-6 (Brunei, Indonesia,

Malaysia, the Philippines, Singapore and Thailand), and the four newer ones - Cambodia, Laos, Myanmar, and Vietnam.

Equally significant, under the ASEAN Free Trade Agreement, the Common Effective Preferential Tariff scheme has brought down tariff rates on goods coming from ASEAN members to virtually zero for the ASEAN-6.

The four new ASEAN members have until the end of this year to reduce their tariffs.

From automobiles and parts to natural resources, the variety and quality of products and services traded has made ASEAN the fourth-largest export region in the world. Even more so, the launch of export-processing zones across ASEAN has increased interaction internally and externally.

Further advances are expected once the AEC in 2016 allows for greater movement of goods, services, skilled labour and investment. However, im-

commitment, and address the development divide among its members.

provements are required for intra-regional trade to reach its full potential, since some countries still have some tariff and nontariff barriers in place.

Notable progress has been made on the AEC’s first pillar, which is fundamental to developing a single market and production base in goods. Tariffs have been reduced substantially, with more than 70 percent of intra-regional commerce in ASEAN enjoying zero tariffs, and less than five percent of goods being subjected to tariffs of more than 10 percent. These developments will encourage intra-ASEAN trade in manufacturing and agricultural goods. Although progress has been made with the signing of mutual recognition agreements in seven professions, realisation of the trade in services agreement is much slower.

Nonetheless, slow yet steady progress has been seen in attaining the goals of liberalising investment and capital flows. The signing of the ASEAN Comprehensive Investment Agreement in 2012 was an important step in building a better business environment for the private sector in the region. Moreover, to enhance trade facilitation, the National Single Window (NSW) programme currently is observed by the ASEAN-6.

Modest achievements are visible regarding the second and third pillars of the AEC. Among the highlights are the adoption of the ASEAN Intellectual Property Rights Action Plan 2011-2015 to strengthen intellectual property institutions in the region; the adoption of the Master Plan on ASEAN Connectivity to enhance the region’s transport connectivity and energy security; and the actualisation of the ASEAN Strategic Action Plan for Small and Medium-Sized Enterprise (SME) Development, which aims to give guidance on the flagship projects and other SME initiatives in the region to promote inclusive growth.

Meanwhile, the implementation of the fourth pillar has progressed well over the past decade. ASEAN not only has emerged as the hub of free trade agreement (FTA) activity in the Asia-Pacific, but also has assumed a leadership role in negotiating trade rules for connecting Asia to the rest of

According to the business survey ‘Re-drawing the ASEAN Map’, sponsored by Baker & McKenzie and CIMB, companies are increasingly managing the ASEAN region as one economic entity rather than ten separate economies.

Secretary-General of ASEAN is Le Luong Minh. He was previously Deputy Minister for Foreign Affairs in Vietnam.

Takehiko Nakao is President of ADB.

the world. FTAs have been concluded with ASEAN’s six dialogue partners: Australia, China, India, Japan, South Korea, and New Zealand.

Moreover, negotiations for the Regional Comprehensive Economic Partnership (RCEP), covering ASEAN and its dialogue partners, were launched in 2012. If signed and put into action, the RCEP will become the world’s biggest trade bloc, covering 40 percent of global commerce, and will provide significant economic gains to members.

When compared with China and India, the AEC is the best alternative for investors. Through the vertical and horizontal integration of ASEAN’s individual national economies, it will stimulate intra-regional investment, trade and business connections, thereby benefiting both foreign and local firms.

Challenges remain in the elimination of NTBs such as a single channel for imports, price control measures, natural resource subsidies and preferential treatment of state-owned enterprises. Indeed, many of the remaining challenges to achieving the goals of the AEC are tied to ASEAN’s ability to harness cooperation and

Some 76 percent of MNCs operating in south east Asia now have a strategy that is tailored specifically to the ASEAN bloc. And while the countries of south east Asia remain deeply diverse and different, they are gradually growing more alike. This is enabling companies to be more regional in their strategy.

The report reveals that 64 percent of companies believe their customers across ASEAN are becoming more similar. As a result, 62 percent of companies are standardising the products and services they offer across ASEAN. Moreover, MNCs already have multicultural environments and employee exchange policies in place within their organisations, putting them in a much better position to recruit talent from ASEAN countries.

While larger companies seem ready for the AEC, small and medium-sized enterprises (SMEs) are less prepared.

According to a survey by the Asian Development Bank, less than onefifth of ASEAN firms are ready for the transition. This is despite the fact that small to and medium-sized businesses generate approximately 90 percent of ASEAN jobs and 30 to 50 percent of GDP. The abundance of resources as well as lower manufacturing costs will assist SMEs increase their productive capacities. A certain level of competition is always healthy for any business, and this will spur on SMEs to perform better and improve their operating procedures.

Plus, being viewed as a single large market also encourages integration which, in turn, will lead to greater economic proficiency for ASEAN as it meets the challenges of other big markets in the vicinity, such as China and India. However, elevated The Link

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competition also means some SMEs may be left behind.

The ability to identify the risks and benefits of the AEC and to take advantage of this new marketplace may not come easily to everyone, which means not every business will be able to grasp the opportunities as well as they should.

For Thai SMEs, the best trade and investment prospects are Indonesia and the CLMV (Cambodia, Laos, Myanmar, and Vietnam) group. Without a doubt, the AEC will open a window for Thai SMEs to engage in more trade and commerce, like selling consumer goods or construction materials, and operating small retail businesses.

Thai goods and services already are well known and have a good reputation within neighbouring countries as products from Thailand are preferable when compared to goods from China in terms of quality.

Regarding the ASEAN Comprehensive Investment Agreement, the accord is not an investment catch-all that any business type or investor can profit from, and it contains precise definitions of authorised investments and investors.

An investor under the ACIA can be either a natural or juridical person.

A natural person is defined as a national, citizen, or permanent resident of an ASEAN member state.

A juridical person is defined as any legal entity under the applicable laws of an ASEAN member state whether for profit or non-profit, or private or government owned, and can be a corporation, trust, partnership, joint venture, sole proprietorship, association or any other legal business entity.

A very important feature of this definition is that a juridical person in ASEAN member state controlled by a third country national also is defined, with some caveats, as an allowed investor.

The overall goal of the ACIA is to establish a freer, open, transparent and integrated investment regime for domestic and international investors 22

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throughout the ASEAN region The ACIA’s benefits include investment liberalisation, non-discrimination, transparency, investor protections and Investor-State Dispute Settlement.

For ASEAN to be a truly competitive region, infrastructure development is crucial. The Asian Development Bank (ADB) has estimated that ASEAN requires an annual infrastructure investment of US$60 billion annually until 2020.

To this end, the ASEAN Infrastructure Fund was created in 2011, comprising equity contributions from ASEAN member countries and co-financed by the ADB, to address the region’s critical infrastructure development needs.

Another priority area is labour mobility, particularly of professionals, that will require careful consultation and collaboration. This issue is recognised in the AEC Blueprint. When investing or expanding in the region, companies may want to use a mix of manpower from headquarters as well as the local work force or have local talent trained elsewhere in the region.

In such scenarios, the movement of labour will be critical. Similarly, financial integration is essential but it will be imperative to manage the risks of liberalisation.

Actually, infrastructure development among the ASEAN countries, encompassing the development of hard infrastructure such as roads, ports and

airports, as well as soft infrastructure such as human resource development and training are being concentrated.

The harmonisation of technical standards, with the objective of ‘one standard, one test accepted everywhere’, is an initiative in facilitating trade.

Likewise, mutual recognition agreements (MRAs) enable companies to produce more standardised products and pool skilled labour effectively.

Upon closer examination, a more integrated market could lower transaction costs. In particular, it could bring down inventory costs by reducing the number of specialised products that companies need to keep in stock and by minimising the chances of goods arriving after customers need them. Standardisation is important for multinationals, which have global networks. However, small and medium enterprises, too, will find harmonisation useful.

An update on the AEC’s progress was provided at the 26th ASEAN Summit, held in Malaysia in April 2015. The meeting’s statement noted that the AEC Scorecard – which assesses the degree of target actualisation in the AEC Blueprint – stood at 90.5 percent out of 506 measures. Even though the figure can be debated, there is consensus that forward momentum does exist and a realisation that integration will help increase ASEAN competitiveness vis-à-vis China and India. * A longer version of this article first appear in the BOI online newsletter.

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The AEC: lots of ambition, just no institutions

By Paul Gambles

A

s we approach the end of 2015 and the opening of the Asean Economic Community (AEC), it’s worth taking a little trip to Perugia, located on the banks of the River Tiber, in the very centre of the Italian peninsula.

This Umbrian city of around 160,000 people seems to me as the perfect place to start. Like many other nearby towns, it spent centuries being shifted from state to state in the constant battle of dukes, kings and popes. Then, in 1860, it became part of one of the most ambitious common market projects ever – the union of a hotchpotch of territories, dialects, systems and vested interests that became known as Italy.

Perugia also happens to be the birthplace of Paolo Cecchini, the economist tasked by the European Commission over a century later to write a report on the economic benefits of a European single market. His 1988 Cecchini Report demonstrated how the European Union’s economy would expand with the successful removal of national regulations and practices which artificially inhibited the provision of services, as well as the movement of labour, capital and goods across borders – a goal which coincides with that of the AEC. The Report estimated that the move to a single market would lead to a one-off increase in EU output of between 2.5 percent and 6.5 per-

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cent. Whilst GDP growth went up by just under three percent between 1993 and 1994, the lasting legacy of the removal of barriers wasn’t mentioned – but that is more important.

According to World Bank data the 12 countries which were already EU members when the single market began in 1993 experienced an average annual GDP growth of over three percent right up until the GFC took hold in 2008.

As GDP covers whole economies, whose performances are reliant on a huge range of internal and external circumstances, it’s difficult to prove that this economic expansion – and the potential growth of the Asean equivalent – is due to the opening of markets.

What we can do though is take one sector which has been greatly affected by the EU single market and look at how it could change in the AEC – financial markets. In 1985, the EU’s UCITS framework first appeared, allowing investment schemes authorised in one EU country to be offered in another. UCITS is currently in its fourth (soon to be fifth) iteration of legislation and given that around £6 trillion of assets are under management, accounting for around 75 percent of all collective investments by small investors in Europe, the system is clearly popular. In fact, you could say that it’s a victim of its own success – as attempts to apply this passporting principle to other areas, such as merging funds across bor-

ders, has apparently become costly, resource-draining and is complex as fund managers need to consider the tax implications in different countries.

Whilst the principle of UCITS is to allow authorised financial products based in, say, Copenhagen, to be offered to an investor in Rome, the reality is that there is now a concentration of management firms in the jurisdiction which offers the best conditions regarding tax treatment, accessibility, regulation and investor protection. In other words: Luxembourg.

In August 2014, Asean announced that the offering of cross-border collective schemes between Thailand, Singapore and Malaysia was now permitted under its Asean CIS Framework. It appears that schemes must receive their home regulator’s approval to be offered in the home market first before seeking the host regulator’s permission to be offered within one of the other two CIS countries. By September 2015, eleven funds had been granted such home approval; although none of them appear to have yet received the green light from either of the two host countries.

It’s now up to the three ASEAN jurisdictions that have already rolled out the CIS framework to take advantage of their head start and provide the best conditions for managers and investors to do business.

However, where UCITS differs significantly from CIS is that, in the former, only the home regulator’s authorisation is required. This exposes a gap in the system – and in the whole AEC plan for that matter. Whilst the different UCITS laws have passed through legislative processes, such as consultation, hearings in the European Parliament and the Council of Ministers, such mechanisms do not exist in Asean.

For the CIS framework, the rules were drafted and those national regulators who agreed signed up. That’s why a cross-border CIS is possible in only three of the nine member states and approval on both sides is required.

Sooner or later the practical question will arise: what if a national regulator and national government combine to restrict the agreed freedoms? In the EU, another state or individual can complain to the European Commission and/or take the case to the European Court of Justice (ECJ). As I write – just a few weeks before the AEC is due to open its doors – such a structure doesn’t exist. In other words, there is no-one to regulate the regulators.

If regulators are really serious about an Asean environment where investors can buy properly regulated financial products with the peace of

mind which meaningful protection can give, there has to be a supranational regulator and dispute settlements system in place.

This institutional gap is not limited to investment funds – it’s true with all the freedoms the AEC wishes to establish. What if a company, entirely owned by Singaporeans but incorporated in Malaysia, is told it cannot enforce a contract in Singapore? Under whose laws do Vietnamese nationals, working temporarily in Thailand, come under? Can a company set up in a low minimum capital requirement jurisdiction be blocked from doing business in a country with higher requirements?

All these questions have been answered at the ECJ but there is no Asean equivalent.

Right now, the only way the AEC could solve this is through agreements between governments, which represent countries with widely different systems and priorities. Unanimity may prove elusive; some governments may sign up, while others do not. It could all be highly confusing.

Singapore Foreign Affairs Minister K. Shanmugam was right when he stated that the AEC will not be the same as the EU ; yet the goals are the same. The AEC as a whole, and the CIS in particular, are based on commendable objectives which may not automatically bring about greater prosperity in Southeast Asia but could well enable it. I hope the project works, but right now it looks like we’re still some distance away from it being practicable.

Paul Gambles is co-founder of MBMG Group – an advisory firm that assists expatriates and locals in south east Asia.

Tel: +66 2665 2536 e-mail: info@mbmg-group.com Linkedin: MBMG Group Twitter: @MBMGIntl Facebook: /MBMGGroup Please Note: While every effort has been made to ensure that the information contained herein is correct, I cannot be held responsible for any errors that may occur. My views may not necessarily reflect the house view of MBMG Group. Views and opinions expressed herein may change with market conditions and should not be used in isolation.

New energy efficiency plan for Thailand T

measures are expected to reduce domestic energy consumption by more than Baht 8.5 trillion over the course of the next 20 years.

The EEP comprises several measures including the use of high energy-efficiency equipment and buildings. The

The National Energy Policy Council also approved criteria for the price structure of electricity to ensure that electricity rates would be set appropriately, based on the real production costs.

hailand’s National Energy Policy Council has approved the Energy Efficiency Plan (EEP), to be implemented from 2015 to 2036, aimed at reducing Thailand’s energy intensity by 30 percent.

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Research leads race to sustainability M

ost countries, regardless of their level of income, now see research and innovation as key to fostering sustainable economic growth and furthering their development. This is one of the conclusions of the UNESCO Science Report: towards 2030 launched in November.

“In the wake of the adoption of the Sustainable Development Goals to 2030 by the United Nations General Assembly, the UNESCO Science Report clearly shows that research is both a motor for economic development and a cornerstone in the construction of societies that are more sustainable and more respectful of the planet,� said UNESCO Director-General Irina Bokova.

The report’s first lesson is that, despite the economic crisis that hit industrialised countries in 2008, gross domestic expenditure on research and development (GERD) increased globally by 31 percent between 2007 and 2013, rising from US$ 1,132 billion in 2007 to US$ 1,478 billion in 2013. This increase was more rapid than that of global gross domestic product (GDP) during the same period (20 percent).

The USA still leads, with 28 percent of global investment in R&D, followed by China (20 percent), European Union (19 percent) and Japan (10 percent). The rest of the world represents 67 percent of the global population but just 23 percent of global investment in R&D. Nevertheless, research investment by countries such as Brazil, India and Turkey is increasing rapidly.

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Cuts in public investment The increase in R&D spending owes a great deal to the private sector, which has compensated for frozen or

reduced public spending in a number of industrialised countries such as Italy, the United Kingdom and France.

This trend is particularly apparent in Canada (whose world share of R&D

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spending dropped from 2.1 percent in 2007 to 1.5 percent in 2013) and Australia, where significant cuts were made to research funding and applied sciences were prioritised to the detriment of basic research.

energy. Uruguay intends to generate 90 percent of its electricity from renewable sources by the end of 2015.

Chile and Mexico have significantly increased their wind and solar energy production capacity.

Moreover, say the authors of the report, basic research does not only generate new knowledge; it also contributes to the quality of higher education. In the long term, the balance of funding between applied and basic research can also affect the pace at which knowledge spreads. The Green Revolution, which enabled a significant increase in global agricultural output starting in the 1950s, drew almost entirely on research by public sector laboratories and universities.

The picture is very different today, with advances in genetics and biotechnology largely coming out of private companies that are much more protective of their knowledge.

Similar projects are being undertaken in the Arab States. Morocco, for example, inaugurated Africa’s largest wind farm in 2014 and is developing what could turn out to be Africa’s biggest solar farm. In 2015, Saudi Arabia announced a programme to develop solar energy.

If global spending on R&D has increased despite the economic crisis, it is largely because it has been identified as a key factor in promoting economic growth and development.

As a result, a great many countries, regardless of the size of their income, now see research and innovation as a way to keep up in a highly competitive world or find their place in it.

This is the case in Africa, where there is growing recognition that the development of modern infrastructure, such as hospitals, roads and railways and a more diversified economy require investment in science and technology as well as the constitution of a skilled workforce. Kenya, for example, devoted 0.79 percent of its GDP to R&D in 2010 compared to just 0.36 percent in 2007. R&D spending is also increasing in Ethiopia, Ghana, Malawi, Mali, Mozambique and Uganda.

In the context of increased R&D investment, technologies fostering sustainable development are an emerging priority for a number of countries which fits with the Sustainable Development Goals adopted by the United Nations in September 2015.

This is especially the case in Latin America where 19 countries have adopted policies in favour of renewable 28

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More scientists, greater mobility The investment in research also translates into an increase in the number of scientists, estimated at 7.8 million worldwide, which is up by more than 20 percent since 2007.

The European Union has the most (22% of the world share), followed by China (19%) and USA (16.7%).

There has also been a parallel explosion in the number of scientific publications, which have increased by 23 percent since 2008. In 2014 there were around 1.27 million per month.

Europe also leads in this field (34% of world share), followed by the USA (25%), although their respective shares have seen a slight decrease.

The number of publications coming out of China has almost doubled in five years, achieving nearly 20 percent of the world total, compared to five percent ten years ago. This demonstrates the maturity of the Chinese research system in terms of investments, number of researchers and publications.

As well as being more numerous, scientists are also more mobile. Despite the development of the Internet and the multiplication of online networks, doctoral-level researchers still feel the need to travel. The increasing mobility of PhD students in turn influences the mobility of researchers.

“This is perhaps one of the most important trends of recent times,” say the authors of the report.

Students from the Arab States, Central Asia, sub-Saharan Africa and

Western Europe are the most likely to study abroad. Europe and North America are still the preferred destinations for students. The USA alone receives almost half (49%) of international students enrolled in doctoral science or engineering courses.

The United Kingdom comes second (9%), followed by France (7%) and Australia (4.6%).

Since the economic crisis of 2008, Europe and North America have lost some of their attraction. Meanwhile, students who wish to study abroad now have a wider choice. South Africa hosted about 60,000 international students in 2009. Cuba is one of the most popular destinations for students from Latin America, attracting 17,000 from the continent, compared to 5,000 who study in Brazil and 2000 in Chile. Another example is Malaysia, which expects to become the sixth most popular destination for international students by 2020.

From 2007 to 2012, the number of international students in Malaysia almost doubled to 56,000.

Even countries suffering from brain drain are now attracting researchers.

Sudan, for example, lost 3,000 researchers who went to neighbouring countries where conditions are better, notably Ethiopia, between 2002 and 2014. But Sudan also became a host country for students from the Arab world and Africa.

Research is still a very male world While, globally, women have achieved parity at Master’s level, their share diminishes at PhD level to 43 percent of all doctoral graduates. The gap continues to widen after this, as women only represent 28.4 percent of the world’s researchers. They also have more limited access to funding than men and are less well represented in prestigious universities. They remain a minority in senior positions, whether on faculty boards or at the higher levels of decision-making in universities.

The regions with the greatest number of women researchers are south east Europe (49%), the Caribbean, Central Asia and Latin America (44%).

Community Relations Are Our Licence To Operate

Coal-fired power stations in the UK, such as Drax in north Yorkshire, are under pressure to reduce carbon dioxide emissions by burning biomass.

Interestingly, in the Arab States 37 percent of researchers are women, which is a higher proportion than in the European Union (33%).

A number of countries have put in place policies to reverse this trend. In 2013 Germany, for example, introduced a 30 percent quota for women on corporate boards of directors. Japan’s selection criteria for large university grants also seek to increase the representation of women among teaching staff and researchers.

Investing in research and development – some difficult choices “Formulating a successful national science and innovation policy remains a very difficult task”, conclude the authors of the report. This will require simultaneous action on several fronts, whether it is education, basic research, technological development

The UNESCO Science Report is prepared by a team of international experts. It presents a picture of the trends in global research and development, based on a wealth of qualitative and quantitative data. The report is divided into chapters focusing on different regions,* presenting new insights

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or indeed private investment in R&D. The 2008 economic crisis, which made many industrialized countries tighten their budgets, has rendered this task even more difficult.

While most R&D takes place in high-income countries, innovation is now occurring in a large number of countries, whatever their income level. Some innovation is occurring without any R&D activity at all. The authors of the report therefore encourage policy makers not to focus exclusively on designing corporate incentives for R&D, but also to target innovation, in the form of technology transfer and the acquisition of machinery, equipment and software, which are all key elements in the innovation process.

While most science policies advocate stronger links between the private sector, universities and public

into some countries** and essays on specific themes, such as the role of indigenous knowledge. The UNESCO Science Report is published every five years. * Arab States, Central Africa, Central Asia, countries bordering the Black Sea, European Union, Latin America,

research institutions, these commitments often come to nothing, the report observes, quoting a 2013 survey carried out by the UNESCO Institute for Statistics in 65 countries. The report encourages policy makers to draft strategies to try to reverse this trend.

The UNESCO Science Report also emphasises the importance of good governance for innovation-driven development. Corruption in the university system is an obstacle to the education of qualified graduates. It is also a disincentive for the private sector. Companies will have little interest in investing in R&D if they cannot rely on the justice system to defend their intellectual property. http://www.unesco.org/new/en/ loginarea/natural-sciences/sciencetechnology/prospective-studies/unescoscience-report/usr-media-corner/

Member States of the Caribbean Community (CARICOM), Southern Africa, South Asia, Southeast Asia and Oceania, West Africa. ** Brazil, Canada, China, India, Iran, Israel, Japan, Malaysia, Republic of Korea, Russian Federation, United States of America.

Are you developing your leaders for tomorrow?

By Peter Cauwelier

F

or individuals to develop leadership competencies, three elements are needed: action, learning and reflection. Action means actually doing something and seeing the impact this has. Learning means to have new views and insights brought to our attention.

Reflection means to compare one’s thought frameworks with those of others and with the feedback from the environment.

Leadership development approaches often address two but rarely all three of these elements. Training programmes allow to learn and reflect, but action is often absent. On-thejob work acts on company issues, but learning and reflection are left to chance. Team building allows to learn and reflect about oneself and others, but this temporary ‘high’ quickly disappears back at the office. Coaching combines all three elements, but helps one person at a time and is very investment intensive.

What is Action Learning?

What if an organisation could (1) address real business challenges, develop options and implement solutions, (2) have leaders practice their competencies continuously and (3) do this with a whole team? Action learning is a problem solving process that does exactly that, and that by design integrates taking action, learning and reflection. A team works on a real and current business issue, not a case study. Asking questions about the problem, rather than jumping towards solutions, allows you to explore all aspects of a problem and often leads to innovative solutions not yet thought about.

An Action Learning team typically

Powerful questions Group and individual development

Active listening

Action Learning Sharing and teaming

Action

Reflection

works together for three hours, every one or two weeks. At the end of each session, team members commit to actions and implement these between sessions. The following session builds on the results of the actions and team members continue to peel the onion until the problem is solved in a satisfactory way. During each session, members practice and develop their leadership, listening and team working skills.

The perfect fit for Thailand A study by Jean-Francois Cousin (ICF MCC) concludes that the biggest challenges for leadership development for Thais are problem solving, expressing ideas and taking initiative. The Action Learning process is the perfect answer for these developments. Action Learning deals with real problems the organization is facing, and the focus is not on finding the best answer, as in a brainstorming session.

Asking questions creates a safer environment than when one is supposed to come up with the answers. Ques-

tioning allows the team to find the root of the problem and explore solutions. At the end of an Action Learning session, everyone has actions to implement, and there is reciprocal commitment for follow up. Action Learning is a team-based process and works very well in cultures where people are more at ease working in small groups. Training and certifying internal coaches can be done quickly and the organization becomes independent to maintain and further deploy the Action Learning approach.

Contact the World Institute for Action Learning – Thailand (www. wialthailand.com) to find out how Action Learning can help your teams solve critical business challenges and develop their leadership skills, at the same time. peter@wialthailand.com or 0819397833.

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New register aids investors A

new Financial Services Register makes it easier to find information on firms, individuals and other bodies that are, or have been, regulated by the PRA and/or the FCA. The new Register has one search field to help you find a firm, individual or collective investment scheme by looking up its name, reference number or postcode.

You can also search for certain investment exchanges. You can filter the search results or click on a name for further information like contact details, the permissions a firm has or whether it is covered by the Financial Ombudsman Service and Financial Services Compensation Scheme (FSCS).

Five tips to avoid the boilerhouse blues Are you plagued by unsolicited calls from so-called financial advisors with that irritating ‘hello John, how are you today’ opening line from a complete stranger (and likely illegal alien in Thailand).

It’s very important to pre-qualify before divulging any personal information so here are five essential tips.

1. Ask for the company’s registration details and the list of directors.

How long has the company been operating in Thailand?

2. If the company claims to have UK connections, check the FCA website that lists dodgy companies under suspicion. http://www.fca.org. uk/news/warnings

The new Register also includes clearer language and help text to explain some important financial, technical and regulatory terms.

3. If the sales person is using a mobile telephone, ask for the company landline and extension number. Refusal to comply probably means he or she is calling you from a Sukhumvit bar.

Unauthorised firms

4. Insist upon a meeting at the company’s offices. If the office is temporarily closed for ‘redecorating’ it’s time to end the call.

Firms that we have been told are providing regulated products or services without the required authorisation – or are knowingly running a scam – are included in the Register for the first time.

These firms are highlighted in search results by red text and a warning symbol to make clear that we think you should avoid dealing with them or any individuals involved.

Further information on unauthorised firms includes the different details being given out and whether

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5. Ask for a copy of the caller’s work permit and Non-Imm-B visa. More often than not, it’s ‘in process’. Hang up now. they are falsely claiming to be from a genuine, authorised firm.

Consumer credit firms Search results on the new Financial Services Register include consumer credit firms that have interim permission, so you don’t have to search the Consumer Credit Interim Permission Register separately.

The Mutuals Public Register and Regulated Covered Bonds Register are not included in the new Financial Services Register.

You can continue to search these registers separately.

More details at: http://www.fca. org.uk/news/warnings

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chamber news

Chamber launches anniversary logo T

he British Chamber of Commerce Thailand, the oldest and one of the largest foreign chambers in the country, celebrates its 70th anniversary in 2016. To mark this momentous occasion an anniversary logo has been commissioned. The special logo will be used to promote an exciting programme of anniversary events including the Thai-UK 2016 exhibition, Taste of Britain 2016, The ‘Life and Style’ garden party and The Annual Lecture and Dinner.

The current BCCT brand was designed by local branding consultants GSBI Company Limited. Steven Gravelle, Managing Director of GSBI, describes the brand marque as ‘a very immediate and approachable graphic representation of the link between the British and Thai business communities.

It represents clearly an organisation that is about people and equality.

It can confidently be applied as a brand masthead to underpin business conferences and communications, as well as comfortably endorsing informal networking evenings and social events’.

BCCT Chairman Simon Matthews said, “Our priority was to maintain the key message in our current logo of the UK and Thailand working together and GSBI has playfully integrated the party balloons into our people ‘paper chain’.”

We wish all our contributors and readers a very Merry Christmas and a very happy, successful and prosperous New Year.

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Tesco Lotus Shop Online Make your life easier

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Member News

New learning centre at NIST

O

ver a hundred NIST parents, teachers and students joined together on Thursday, 8 October 2015 to celebrate the opening of The Mechai Learning Commons, an educational space created to support information technology, online learning, tutoring, exploration, content creation, reading and study. The facility, made possible through the generous funding of Khun Mechai Viravaidya and family, builds upon the more traditional library model. In addition to standard reading materials, it also includes a community café, mini-amphitheatres and reading nooks—all designed to facilitate shared learning.

During the opening ceremony Head of School James MacDonald recognised not only Khun Mechai’s generous contributions to NIST academically and financially over the years but also to the growth of NIST’s community during its formative years.

Khun Mechai served as the Chairman of the NIST International School Foundation from 1993 to 2002 and again from 2005 to 2009. He is also celebrated for his advocacy in family planning and rural development and still serves as the founding chairman of the largest non-profit in Thailand:

Khun Mechai Viravaidya

the Population and Community Development Association.

Khun Mechai’s work includes a strong focus on the need to support disadvantaged communities and children, particularly those in Thailand’s rural regions. His passion for helping others strongly impacted NIST’s own mission and values, leading to the creation of many of the school’s community initiatives. These programmes, student-initiated and

MQDC (Magnolia Quality Development Corporation) has been displaying new ways to save energy and protect the environment at the recent ‘360 Save the World Expo’ in Bangkok.

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driven, include Dreams We Believe In, the NIST Development Bank, FairNIST Coffee and the Maeramit Development Group. Each of these have allowed poor communities to access NIST’s facilities and resources, share and learn from NIST students and staff, and grow through educational and financial support.

Through the vision, inspiration and generosity of the Mechai family, NIST has not only been able to support continued academic and personal excellence for its students, but also extend this mission into the surrounding community, empowering and enriching others.

Brett Penny, Head of Elementary - NIST International School, said, “Three key words that are taken from our philosophy statement are provoke, extend and enrich. We feel that these words can truly be attributable to Khun Mechai as, when teaching and having conversations with our elementary students, he always provokes inquiry from the students and helps extend their thinking and eventually our students go on to enrich other people’s lives.”

Member News

Grant Thornton report highlights Thailand’s major challenges A

mented, “This is like two ends of an elastic band. In the middle of that band is reduced competitiveness in a region which is becoming more competitive. Radical changes in the education system including greater technical education and a focus on advanced vocational training to promote increasing levels of productivity are not even being discussed. Even if this were to happen at this moment, it would be one or two generations before there would be a measurable enough contribution to efficiency.”

new International Business Report published by Grant Thornton examines Thailand’s prospects for business growth.

The report, ‘Thailand: the business growth landscape’ looks in depth at the last 10 years in Thailand and some of the key challenges it now faces in growing the economy.

The report notes that Thailand, over the past decade, has seen 11 Prime Ministers in office (including caretakers), 10 Finance Ministers, many deadly street protests, two coups, an airport shut-down and an economically devastating flood. ‘Given this it is almost surprising that Thailand has managed to eke out an annual average growth rate of 3.13 percent over the last 10 years - albeit the lowest in the region.

Compare that with our neighbours in ASEAN during this same period; Singapore – one Prime Minister and 5.17 percent growth; Philippines – two Presidents and 5.43 percent growth; Malaysia – two Prime Ministers and 4.86 percent growth; Indonesia – two Presidents and 5.7 percent growth and, finally, Vietnam which has had only one Prime Minister and enjoyed six percent growth. Stability with prosperity is key to growth in this rapidly changing and challenging environment.

The report adds that ‘the lack of stability over the last 10 years will play a key role in shaping the future economic fortunes of Thailand. There are several substantial systemic issues which will start to act like an anchor on the long-term health of the economy. Even with substantial action now, 38

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Ian Pascoe

it will take several generations for this anchor to be lifted and the Thai economy able to sail strongly again’.

The Thai population is ageing dramatically. By 2040 a quarter of the population will be over 65. The National Economic and Social Development Board recently said that this will lead to a highly dependent population after 2040, with a workforce not able to sustain the rate of consumption.

This will have the double negative effect of reducing the working population whilst at the same time incurring higher bills for healthcare. This burden will be absorbed by not only the people in part but also by the national and local Thai governments.

Wage increase outstripping productivity Ian Pascoe, Managing Partner of Grant Thornton in Thailand, com-

Thailand is attempting to move up the manufacturing ‘value tree’ and away from low-cost labour intensive manufacturing towards a knowledge-based economy. However, key ingredients of moving towards such an economy are not present: R&D spending, IP protection and investments in science and technology. Thailand’s worldwide university rankings continue to decline and, remarkably, levels of English competency are in decline in the younger generation of students.

Even a high-speed internet, which is a major key to this, is severely lacking.

This absence of digital infrastructure further contributes to even more basic challenges: business, banking and government transactions are still too paper-based, thus encouraging a lack of transparency while incurring higher expenses for all involved.

“These systemic issues are against a backdrop of considerable global turmoil. When the world was growing a tremendous amount of capacity was built for what was seen then as preparing for demand from a fast

Member News growing world. Instead demand has dropped markedly however over-capacity remains,” added Ian Pascoe.

“The world is also in a long deflationary cycle which can exacerbate the effects of debt given that the present value of the debt remains the same or greater. Meanwhile, China’s GDP continues to grow but that growth is coming from the services sector.

Non-services related growth, which Thailand used to be able to feed with manufacturing, is in decline.”

Accelerating growth in GDP Thailand can accelerate growth using three main levers including more household spending, more exports and a substantial increase in government spending. The first two levers are already too hot to touch. Household spending has been declining whilst household debt has increased dramatically at the fastest rate in south east Asia over the last six years. The prognosis for exports is also not strong. As

mentioned earlier Thailand has not made the necessary adjustments to its education programs to improve productivity but instead has been fortunate that in the past the world economy and its major trading partners have been growing. That is no longer the case. Our neighbours in the region are also competitive in this area. Thus the halcyon days of strong export growth are no longer sustainable.

Government spending is a possibility and is starting to happen with the large infrastructure projects that have been announced. The government’s bank balance can certainly support these projects. However, history has taught us that the government is generally slow to actually spend funds while fast profligate spending can also encourage corruption, which the government is attempting to prevent. This environment essentially paralyses the government from making any meaningful decisions for on the one hand the bureaucrats are scared of making decisions for major projects and on the other hand, are

waiting for an environment better suited to making those decisions.

Ian Pascoe concluded, “We expect stability in Thailand during 2016 however a continuation of relatively depressed economic growth. Robust tourism numbers will remain a bright spot and we also believe there will be a modest increase in private consumption in 2016. However with global growth stunted and some sizeable systemic issues looming in the economy, the net effect of this will be a projected GDP rise of 3.6 percent in 2016 and four percent in 2017. Only stability with action towards prosperity will be able to assist with this in these economically challenging times.”

A separate IBR from Grant Thornton takes an in-depth look at the crucial Asia Pacific region. ‘The future of Asia Pacific’ shows comparative results of thousands of surveys with business leaders in the region and explores the opportunities and challenges for the region

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Member News

Shrewsbury proms night attracts record numbers

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he 2015 Last Night of the Proms at Shrewsbury International School attracted nearly 600 guests. The event, sponsored by Jaguar Land Rover, featured a wide range of music from Shrewsbury’s symphony orchestra and choirs under the direction of Director of Music Ken Haggarty and Director of Choral Ben Hur. UK music ensemble Ex Cathedra also took part.

The 15-piece programme including works by Edward Elgar to Andrew Lloyd Webber. However, the performance of Karl Jenkins’ Benedictus marked a particularly special point in the evening, as Year 13 music scholar Khun Gun Chaikittiwatana was handed the baton. Gun heads to Oberlin College in America in 2016 to continue his musical studies.

John Moore, Director of Music at Shrewsbury School in England brought proceedings to an end with Land of Hope and Glory, Rule Britannia and Jerusalem.

Grant Thornton launched its ‘Hotels 2020: Welcoming Tomorrow’s Guests’ report at a well-attended seminar in Bangkok. The report, which addresses how technology is changing experiences and expectations of hotel guests, was presented by Gillian Saunders ( far left), Grant Thornton’s Head of Hotels and Tourism.

The panel members taking part in the discussions included Tony Chisholm (pictured right), General Manager of the Pullman Bangkok G hotel in Silom Road.

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Happy shopping!

Member News

Office supply holds firm in prime CBD locations T he office supply in prime CBD locations remained unchanged q-o-q in Q3 2015, according to property specialists DZT. On a y-o-y basis, total office stock increased by 5.2 percent to 1.79 million sq m. The most recent completion was Bhiraj Tower at Emquartier in Q2 2015.

Future office supply in the CBD area will be limited throughout 2016 and 2017. Developers are seeking to build new offices in non-CBD or fringe CBD areas, especially adjacent to the existing BTS and MRT lines. DZT expects to see more office developments in non-CBD areas. Leasing activity in the office sector continues to grow while supply is limited. Total occupied office space in Q3 2015 was recorded at 1.60 million sq m, an increase of 0.4 percent q-o-q and 23.1 percent y-o-y.

The occupancy rate in Q3 2015 registered at 89.4 percent, up from 89.0 percent in Q2 2015 but down from 91.2 percent from the same period last year. Average office rental levels in the CBD in Q3 2015 remained unchanged at THB 775 per square metre/month despite an active leasing market in the prime CBD locations.

Retail Retail supply in the downtown market was negative in Q3 2015. With the demolition of 5,000 square metres of retail space in City Viva, the total retail stock in the downtown, as of Q3 2015, was 1,317,493 sq m, decreasing by 0.4 percent q-o-q, but increasing by 4.4 percent y-o-y.

The midtown market saw an expansion of stock in Q3. Total retail stock increased to 755,599 sq m, an increase of 4.4 percent q-o-q and 14.7 percent y-o-y. This was due to the 42

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launch of five new retail malls with a total of 32,143 sq m of retail space.

The average occupancy rate in the downtown market in Q3 2015 increased slightly to 92.0 percent, from 91.5 percent in Q2 2015. The increase in the occupancy rate was largely due to the movement of tenants into The EmQuartier shopping mall. DZT anticipates that the occupancy rate will remain stable in Q4.

The average rent in downtown locations in Q3 2015 remained unchanged at THB2,630 per sq m per month.

The rents increased by 3.1 percent when compared to the same quarter last year. The average rent in the midtown in Q3 2015 remained unchanged at THB1,560 per square metre/month despite the completion of new stock.

Residential The condominium development activity in the CBD remained robust.

Thailand’s prominent condominium developers continued to launch their new projects in Q3. A total of 2,294 units from six condominium projects were launched in Q3 2015, about 125 percent y-o-y from a total of

1,834 units in Q3 2014. The majority (63.3%) of the new condominium supply in the CBD emanated from the Sukhumvit area. This was followed by the Silom-Sathorn area (36.7%).

The supply of Grade A units (properties with average unit selling prices ranging between THB120,000 and 169,999 per sq m), dominated the CBD market. Grade A units accounted for 63.3 percent of the total supply in Q3 2015, followed by Grade B (24.7%) and the luxury segment (12.1%).

The average unit selling price reached THB200,000 per square metre in Q3 2015, increasing by 1.5 percent q-o-q and 27.0 percent y-o-y. It is anticipated that the average unit selling price in all CBD areas will continue to moderately increase in Q4.

Resale values of condominium units in Bangkok’s CBD continued to increase in Q3 2015. The resale price index in Q3 2015 settled at 122.53, increasing from 121.08 in Q2 2015.

The average asking price of resale condominium units was recorded at THB101,700 per sq m, representing an increase of 1.2 percent q-o-q, and 14.3 percent y-o-y.

Member News

Dusit joins Chinese-Thai celebrations D usit International joined the 40th anniversary celebrations of Thai-Chinese diplomatic relations that culminated in an art exhibition entitled ‘Thailand through the Dragon’s Brushes’.

Ten Chinese artists were commissioned by The Nation newspaper, China Daily Asia Pacific and The Chinese Culture and Arts Association to visit some of Thailand’s most popular cities, including Bangkok and Chiang Mai, and then create works of art inspired by these places in their own style.

In support of this event, the Dusit Thani Bangkok and DusitPrincess Chiang Mai hotels hosted the artists in Thailand. As a gesture of appreciation, five of the artists collaborated on one painting called ‘Beautiful flowers around the Moon’ - created on the

From left to right: Pana Janviroj, President of International Business Affairs of Nation Group; Kuku Chai Bukuk, Jurairat Sirisambhand, Stanley Lo, Resident Manager of Dusit Thani Bangkok; Yang Xun, Cui Zhi’an, Feng Xuewen, and Suthichai Yoon, Advisor to the Nation Multimedia Group editorial board.

auspicious day of the Mid-Autumn Festival. The painting was presented to Khun Jurairat Sirisambhand,

Dusit International’s Group Director of Partnerships and Corporate Advertising.

Round the world cyclist drops in at Harrow

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arrow Bangkok has welcomed cyclist Callum Fairhurst during the Thailand leg of his round-the-world journey. Callum is raising funds for the Liam Fairhurst Foundation, set up to help young people affected by cancer, disabilities and illness, as well as local charities, too.

Liam, Callum’s brother, died of cancer in 2009 and during his life he was responsible for raising £340,000, and a further £7million by heading

Callum was greeted by Harrow headmaster Mick Farley (above left).

a campaign for charity.Harrow Bangkok students, inspired by Callum’s

dedication, have been raising money for the charity appeal.

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Member News

Jobs boost as Tesco Lotus opens distribution centre T esco Lotus has opened its second regional distribution centre (DC) in Surat Thani as a key distribution hub for southern Thailand. An estimated 800 new jobs will be created and the company is forecasting that some 14 tons of carbon tons will be eliminated each month.

Monchai Intarapornudom, Distribution Director of Tesco Lotus, said that “The opening of our regional distribution centre in Surat Thani is another significant milestone in our continued efforts to elevate the quality of the products and services we offer to our customers. The DC, worth an investment of Baht 2.5 billion, will allow Tesco Lotus to be able to better serve customers in the south and help stimulate the local economy.

Approximately 800 jobs will be generated, most of which will be filled by people in the surrounding areas.

cess to Tesco Lotus customers in the south of Thailand and throughout the country. The presence of this DC will help small vendors and suppliers save on long distance transportation costs.”

“In addition to the direct employment, the regional DC will give local SMEs that don’t currently have the capacity to transport their products to our central DCs to send their goods here instead, thereby giving them ac-

The new Tesco Lotus DC in Surat Thani is one of the most advanced and energy efficient in Thailand.

With a service area of 55,000 square metres the DC is located on 190 rai of land in Surat Thani’s Punpin district.

CBRE staff have been taking part in an exercise to clear rubbish from Bang Tao beach in Phuket. The clean-up activity was part of the company’s ‘Green Week’. Participants cleared a substantial quantity of rubbish, helping restore the beach’s natural beauty.

The activity was led

by Nicholas Franklin, Associate Director of CBRE Phuket.

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It is also one of the fully integrated distribution centres in the Thai modern trade retail sector which can store fresh and ambient products under the same roof. The DC has the capacity to handle 30,000 pallets and 3.5 million packs.

The DC uses green innovations and energy-saving technology including motion sensor LED lighting, hot water generated by coolers for basket washing, ceiling fans thatwork with natural wind directions to ventilate the room-temperature storage area, double doors preventing air conditioning leakage, floor insulation to cool down the rooms, and voltage stabilisers to regulate electrical currents and enhance the efficiency of electrical equipment.

The DC will serve almost 190 existing Tesco Lotus stores in 14 provinces across southern Thailand.

Tesco Lotus operates six distribution centres in Wang Noi, Bangbuathong, Sam Khok, Lamlukka, Khon Kaen and Surat Thani that service almost 1,800 Tesco Lotus stores across the country.

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Member News

Jobs remain at risk in Air France review A

ir France Chairman and CEO Frédéric Gagey has presented a progress update on the airline’s Perform 2020 plan in which compulsory redundancies ‘cannot be ruled out’.

Facing the impossibility of signing agreements enabling the implementation of productivity measures to restore long-term profitability, Air France is now forced to launch a restructuring plan of its long-haul network.

Air France’s long-haul capacity should decline by around 10 percent between 2015 and 2017. At the level of the Air France-KLM’s passenger network business, capacity should fall by around two percent between 2015 and 2017, compared with a previous expectation of around three percent growth.

The plan currently foresees the closure of five routes and the cancellation of 35 weekly frequencies by 2017. The schedule modifications will focus on routes where losses are

highest, serving principally Asia and the Middle East.

The impact on the commercial footprint of the Group will be minimal thanks to, among other, the numerous partnerships in the relevant markets.

Air France’s long-haul fleet will be scaled back by 14 aircraft to 93 by summer 2017. This adjustment will Harrow School in Bangkok has taken to the airwaves. The new station is run entirely by student DJs, producers and station managers.

Using professionalstandard equipment, the station crew meet at lunchtimes and on Tuesday afternoons to plan, record, and produce the radio shows.

Programmes include ‘My Jam’ which features guests talking about their favourite music.

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mainly be made via the accelerated retirement of Airbus A340s which will not be replaced by Boeing 787s as had been initially planned.

In 2016 and 2017, the related capex reduction could reach up to €200 million. This reduction in activity will result in estimated overstaffing of 2,900 people, comprising approximately 300 pilots, 900 cabin crew and 1,700 ground staff. In segments where consultation/negotiations enable the achievement of the Perform 2020 targets, the adaptation in staff will take the form of voluntary departures.

In the other segments, compulsory redundancies cannot be ruled out. The restructuring charges will be recorded once the pace and conditions for these departures has been determined.

The targeted reduction in the Air France network, focused on the most loss-making routes, combined with a reduction in fixed costs and cost-saving measures across all Air France’s businesses and the Group as a whole, will enable the enduring turnaround in the Group’s results to be pursued.

Member News

New world order emerges in regional city rankings A

sia Pacific’s three established world cities risk being outshone by emerging cities in the region over the next decade, according to new research from global real estate consultancy JLL in conjunction with The Business of Cities.

Chris Fossick, Managing Director of Singapore and Southeast Asia at JLL, says: “Over the last few years, emerging Southeast Asian cities have made significant progress and increased their presence in the global scene. Jakarta and Manila’s domestic market size and strong economic growth have caught the attention of global investors.

Tokyo, Singapore and Hong Kong make up half of the ‘Big Six’ established world cities and, along with London, New York and Paris, attract world class corporations, talent and more than one fifth of global real estate investment.

However the report, Globalisation and Competition: The New World of Cities, reveals that a number of cities in Asia Pacific could challenge their dominance. Sydney and Seoul are identified as the most likely cities to break into this elite group. Meanwhile Shanghai and Beijing are considered nearly-emerged, with Shanghai already one of the world’s top 10 financial hubs.

Rosemary Feenan, director of Global Research Programmes at JLL, says: “In order for the ‘Big Six’ cities to maintain their dominance, they will need to execute bold and ambitious urban transformation projects to accommodate growth and stay globally competitive.

“Our research shows that a new world order of cities is evolving, with several emerging cities ready to break from the pack. In Asia in particular there are strong challenges to the old order from agile higher-value emerging cities like Bangalore, Shenzhen and Guangzhou.”

Singapore and Hong Kong remain the most business-friendly cities in the world, along with having strong

education, innovation and infrastructure credentials. Tokyo, meanwhile, is the world’s third biggest real estate investment market and has recently seen a record-breaking number of tourist arrivals, thanks to visa deregulation and the weaker yen.

But in the new era of city competition the rigid hierarchy is breaking down as more cities than ever ‘go global’.

The increasingly globalised urban world is changing the geography of commercial real estate and is offering new opportunities and niches for cities outside the old order, says the report.

Alastair Hughes, Asia Pacific CEO of JLL, says: “As emerging cities in Asia Pacific move to the next phase of their evolution, the real estate sector will play an increasingly important role in creating a ‘sense of place’ and making them more liveable and sustainable. This will have wide-ranging implications for citizens, governments, corporations and provide some great opportunities for investors.”

Kuala Lumpur has and will continue to strengthen its position as a major city in the fast growing Southeast Asian region, and will be further enhanced with the eventual opening of the High Speed Rail connecting to Singapore. Singapore’s transparent and business-friendly environment, and it becoming an information-led economy, should cement its position as an innovation hub.”

Taipei, for example, is identified as an emerging world city, a growing financial centre with strong infrastructure and excellent governance. Kuala Lumpur is also considered a competitive megacity, acting as a gateway to the regional markets in Southeast Asia, with its strategic location and dynamic labour markets.

Jakarta and Manila are among the emerging cities making the fastest progress across key indicators, currently seen as ‘high potential, but weakly governed’. These cities, along with Mumbai, are attracting investment and outsourcing activities, although they face a number of challenges relating to infrastructure, governance and quality of life.

Among the emerging world cities, Bangkok ranks 9th in leading indices and 6th for human capital and innovation. It is also listed among manufacturing leaders.

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Member News

New condo complex suits expat requirements C BRE has fully let a new 32unit apartment building, the Philo Residence, on Sukhumvit Soi 24 within three months of completion. The eight-storey development has achieved an average rent of over THB 800 per square metre per month – one of the top rental rates achieved for apartments (single-ownership) or condominiums (multi-ownership) in an area where rents are on average only THB 500 per square metre per month.

This is because the apartments matched expatriate tenant requirements in terms of size, layout, specification and furniture, according to Theerathorn Prapunpong, Director of Residential Leasing Services at CBRE.

Many expatriates still receive a housing allowance and are willing to spend all of it – but not more. They are not willing to top up the allowance with their own funds.

“CBRE closes about 400 leases on average for expatriates every year and by studying requirements and transaction data in our comprehensive database, we are able to analyse the market and have a good understanding of where expatriates want to live, what they want and, most importantly, what they can afford to pay,” said Khun Theerathorn.

Developers want to maximise the rent per square metre, but there is a limit on how small a unit tenants are willing to accept, so the developers cannot simply shrink the unit size to increase the per-square-metre rent.

The attractiveness and efficiency of the layout are critical and the right design can produce an optimum size for each type of unit that will lease

quickly and maximise per-squaremetre rents. CBRE estimates that there are more than 80,000 expatriates with work permits in Bangkok, an increase of 8.55 percent compared to 2014. However, there are only about 11,000 apartment units in the popular expatriate areas with about 300 new units that will be completed by the end of 2016.

With such a limited supply and the continuing renovation and refurbishment of older apartments, CBRE believes that the rental price per square metre will further increase.

More accreditation for Charter School

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harter International School now enjoys additional international accreditation as a result of recent visits by the Council of International School (CIS), Western Association of Schools and Colleges (WASC) and the Thai Office for 48

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National Education Standards and Quality Assessment (ONESQA).

itation is now afforded to the entire school, from Nursery to Year 13.

The CIS Accreditation Service, upon completion of its evaluation procedures, awarded accreditation to the new programme. CIS accred-

Further details of Charter International School may be found at www. charter.ac.th or by calling 02 726 8283.

Member News

Regent’s School campus celebrates royal visit D irectors, staff and pupils at the Regent’s School were honoured to welcome HRH Princess Soamsawali to the Rama 9 Campus on 27 to 29 October.

The Princess, along with 80 other performers, rehearsed intensively at the grand auditorium for the upcoming Cixi Taihou, The Musical Gala, organised by the Old England Students Association.

The Rama 9 campus was selected as the rehearsal venue largely due to its purpose-built facilities, efficient staff and convenient location. HRH Princess Soamsawali also had meals prepared by our school staff at the Knights Room during the rehearsal

evenings. We have been inspired by the dedication and wisdom of HRH

and are forever grateful for her royal kindness to the school.

Student showcase talents at Emporium Bangkok

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ix students from Regent’s, aged between six and 11 years old, have performed at the Kid’s Extraordinaire event held at Bangkok’s Emporium.

The performances ranged from playing the violin, a vocal performance, a song and dance route and martial arts choreography.

Rachel Perkins, the school’s Head of Primary, said, “They are fantastic school ambassadors and they handled the event with enthusiasm and professionalism.”

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Member News

School launches sports channel

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arrow International School Bangkok has launched a sports channel. Called HSports, the team is made up of our students working as producers, presenters, editors and camera operators. Using equipment provided by the Friends of Harrow, the team aims to reach same professional production standards seen on the BBC and Sky Sports. The team is filming sporting fixtures and plans to air one show each week on Harrow TV which is shown on screens around the school and online.

Harrow opens learning centre

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he Harrow International School Bangkok community has been celebrating the official opening of its brand new Sixth Form hub, the Rayleigh Centre. Governors from Harrow School in the UK were present to mark the occasion and the ribbon was cut by Edward Gould, Chairman of Harrow International Schools Limited.

With views over Harrow Lake, the designated Sixth Form centre

provides a light, spacious common room for students to work and relax alongside plenty of collaborative learning spaces to meet the needs of over 250 sixth form students.

Head Master, Michael Farley, said, “This combination of flexible teaching and learning spaces ensures that our school will continue to provide outstanding facilities for our students within a caring environment.”

Virapan Pulges (centre), Managing Director of TICON Industrial Connection Plc. (TICON) together with Johannes Suriadjaja (left), President Director of PT Surya Semesta Internusa Tbk (SSIA) and Eiichi Tanabe (right), General Manager of 2nd Overseas Business Development Department, Urban Development Division - Mitsui have revealed details of the company’s new joint venture. The newly-established firm aims to expand its business as a leading developer of international-quality warehouses and factories for lease in Indonesia.

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It’s a Pink October at NIST T he annual Pinktober event at NIST International School has raised over THB 190,000.

The funds will be used to support the school’s cancer awareness programme and the cost of annual health screens for female support staff at NIST. Now in its fifth year, Pinktober is an important occasion in the school calendar. This year’s fundraising event was organised by the school’s parent-teacher association (NIPTA) in partnership with the Physical Education department, with numerous fun events and activities taking place throughout the day.

New hamper themes from Tesco Lotus T esco Lotus has unveiled its contemporary art themed New Year hampers. To enhance convenience for customers, the retailer is extending its channels to include online marketplace Lazada.

Corporate Affairs Director Salinla Seehaphan said, “Tesco Lotus hampers come in five collections, namely nature, celebration, classic, modern and luxury, each reflected in the materials of the baskets as well as the products they contain. With a growing trend in health and fitness we are pleased to offer our health-conscious customers a ‘healthy’ range of baskets, some containing OTOP products.”

Prices of these new Tesco Lotus hampers range from THB 288 to THB 3,488.

52

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Issue 4/2015

Member News

Shrewsbury hosts awards S hrewsbury International School Bangkok has hosted the annual Outstanding Cambridge Learner Awards for Thailand. Dr. Ben Schmidt, Regional Director for south east Asia and the Pacific, described winning a Cambridge Outstanding Learning Award as ‘a ticket to a journey that will take you further’.

Two of Shrewsbury’s 2015 graduates that secured Outstanding Cambridge Learner Awards in AS Geography and Economics have now embarked on Ivy League degree courses. Khun Nannapin (Pearl) Banjurtrungkajorn will study at University Pennsylvania (Wharton Business School) and Khun Thanachaporn (Mind) Apivessa will be at Cornell University.

Headmaster Stephen Holroyd said,

“Our mission is not merely focused on the qualifications and awards – important though they are – but

Ian Barrow (second from right), General Manager of the Hilton Sukhumvit Bangkok, hosted a series of Italian Renaissance Dinners in Scalini restaurant that also featured art and opera.

Special guests at the preview night included tenor Yves Baron ( far left), artist Saverio Lucci (third from left) and celebrity Pawarisa Penchart ( far right).

also on the qualities to ensure that Shrewsbury students will thrive beyond the school gates.”

Knight Frank Thailand co-hosted a forum with TISCO Wealth and Forbes Thailand to promote offshore property investments and the ‘super prime’ condominium market in Bangkok.

Nicholas Holt, Head of Research at Knight Frank Asia Pacific placed special emphasis upon London’s properties and the prime residential market which remains highly sought after by international investors. Pictured are: Phanom Kanjanathiemthao, Managing Director, Knight Frank Chartered, (3rd from left), Oranuch Apisaksirikul, CEO of TISCO Group (middle), and Krisda Sawamiphakdi, CEO of Forbes Thailand (2nd from right); Frank Khan, Executive Director, Head of Residential Department, Knight Frank Chartered, (2nd from left) and Nicholas Holt.

Dataconsult

Chamber Events

By the Numbers

Chris Bruton Director, Dataconsult Ltd.

Thailand Growth stays positive As year-end approaches, growth prospects remain at better than 2.5 percent, and could reach the heady heights of 2.8 percent. The weak spot is Thailand’s former strength, namely exports, heading for a decline of at least 5 percent in the full year.

But most other countries in the world have fared worse than this, so Thailand gains the accolade of minimal decline. Real private consumption, though displaying positive growth, will not come to the rescue.

It will be real public investment that keeps Thailand afloat, and it can only be hoped that the present government’s official anticorruption drive ensures that the money spent goes in the intended directions. For

disastrous hit, falling from 26th position out of 189 countries in the 2015 World Bank survey, to 49th position in the 2016 ranking. Meanwhile Singapore, at 1st position, and Malaysia, at 18th position, have remained at the same ranking. Thailand seems to be good at just about nothing, although it is one of the best when it comes to insolvency. That should be consoling to those bent on going broke.

2016, the outlook appears brighter. GDP growth is projected at 3 to 4 percent and even exports should be back into positive territory.

IMF Prospects for the Region Every April and October, the IMF reassesses the world outlook. The poorer the country, the better the growth prospects, so Myanmar and Laos, closely followed by India and Cambodia lead the charge for maximum GDP growth. The IMF envisages Thailand growth at 3.2 percent for 2016, with an annual range of between 3.2 and 3.6 percent through 2020. That could result in Thailand slipping by 2018 from its current ranking as second largest ASEAN economy, behind Indonesia, to third position, behind Malaysia. Thailand already slipped behind China in per capita GDP in 2011, and, if the IMF is to be believed, will enjoy little more than half the per capita GDP of China by 2020.

Foreign Direct Investment: staying strong Despite Thailand’s relatively poor overall ratings, foreign investors still love us, although we remain behind Indonesia (and, of course, Singapore). Thailand is well ahead of other ASEAN countries in terms of foreign investment inflows and stocks. Although nowhere near to Singapore or Malaysia in flows or stocks of outward investment Thailand is also becoming a major player in overseas investment too. When statistics on outward investment in 2015 become available, Thailand may become even more significant, with many Thai firms venturing both into the Mekong Region and further afield.

Ease of Doing Business: nothing to be proud of If Thailand’s GDP growth is unspectacular, its ease of doing business rating appears to have taken, comparatively, a

Economic Projections for 2015 and 2016 2014 actual

2015 f Average

Major Assumptions Exogenous Variables Average Economic Growth of Major Trading Partners (percent y-o-y) Dubai Crude Oil Price (USD/bbl)

3.6 96.6

3.5 53.0

Export price in U.S. dollar (percent y-o-y)

-1.0

Import price in U.S. dollar (percent y-o-y) Policy Variables Exchange Rate (Baht per U.S. dollar) Repurchase Rate (Policy Rate) at year-end (percent y-o-y) Fiscal-Year Public Expenditure (Trillion Baht)

-1.9

Number of International tourists (million persons) Projections Economic Growth Rate (percent y-o-y)

2016 f Range

Average

Range

3.3-3.8 48.0-58.0

3.7 57.8

3.2-4.2 52.8-62.8

-2.3

-3.3 to -1.3

1.1

0.1-2.1

-9.8

-10.8 to -8.8

1.6

0.6-2.6

32.49 2.00 3.20

34.2 1.50 3.40

33.7-34.7 1.25-1.75 3.38-3.42

36.50 1.75 3.70

35.5-37.5 1.25-2.25 3.66-3.74

24.8

30.15

29.7-30.7

34.2

33.2-35.2

0.9

2.8

2.6-3.1

3.8

3.3-4.3

Real Consumption Growth (percent y-o-y) - Real Private Consumption - Real Public Consumption Real Investment Growth (percent y-o-y) - Real Private Investment - Real Public Investment Export Volume of Goods and Services (percent y-o-y) Import Volume of Goods and Services (percent y-o-y)

0.6 1.7

1.8 3.4

1.6-2.1 3.2-3.7

2.5 3.0

2.0-3.0 2.5-3.5

-2.0 -4.9 0.0 -5.4

0.8 21.7 0.6 0.0

0.3-1.3 20.7-22.7 0.1-1.1 -0.5 to 0.5

6.1 8.0 4.1 5.1

5.1-7.1 6.0-10.0 3.1-5.1 4.1-6.1

Trade Balance (billion U.S. dollar)

24.6

32.0

27.8-36.3

25.2

17.4-33.1

- Export Value of Goods in U.S. dollar (percent y-o-y)

-0.3

-5.4

-6.4 to -4.4

3.2

1.2-5.2

- Import Value of Goods in U.S. dollar (percent y-o-y)

-8.5

-9.8

-10.8 to -8.8

7.5

5.5-9.5

Current Account (billion U.S. dollar) - Percentage of GDP Headline Inflation (percent y-o-y) Core Inflation (percent y-o-y) Unemployment Rate (percentage of total labor force)

13.4 3.3 1.8 1.4 0.7

26.7 6.8 -0.9 1.0 0.9

22.5-31.0 5.9-8.0 -1.2 to -0.7 0.8-1.3 0.8-1.0

18.7 4.8 1.8 1.0 0.8

10.9-26.6 2.8-6.9 1.3-2.3 0.5-1.5 0.7-0.9

Source: Fiscal Policy Office, Ministry of Finance: October 2015

54

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Issue 4/2015

World Bank: Ease of Doing Business Survey 2016 Econom

Ease of Doing Business Rank 2015

(Ranking based on 189 countries)

Dealing with Construction Permits

Starting a Business

2016

Getting Electricity

Registering Property

Protecting Minority Investors

Getting Credit

Trading Across Borders

Paying Taxes

Enforcing Contracts

Resolving Insolvency

Singapore

1

1

10

1

6

17

19

1

5

41

1

27

Malaysia

18

18

14

15

13

38

28

4

31

49

44

45

Thailand

26

49

96

39

11

57

97

36

70

56

57

49

Brunei

101

84

74

21

68

148

79

134

16

121

113

98

China

90

84

136

176

92

43

79

134

132

96

7

55

Vietnam

78

90

119

12

108

58

28

122

168

99

74

123

Philippines

95

103

165

99

19

112

109

155

126

95

140

53

Indonesia

114

109

173

107

46

131

70

88

148

105

170

77

Cambodia

135

127

180

181

145

121

15

111

95

98

174

82

India

142

130

155

183

70

138

42

8

157

133

178

136

Lao PDR

148

134

153

42

158

66

70

178

127

108

92

189

Myanmar

177

167

160

74

148

145

174

184

84

140

187

162

Source: World Bank Group June 2015

Foreign Direct Investment Inflows and Outflows 2009 - 2014 Country

(Million US Dollars)

FDI Inflows

FDI Outflows

2009

2010

2011

2012

2013

2014

2009

2010

2011

2012

2013

2014

SE Asia total

46,134

105,151

93,535

108,135

126,087

132,867

41,533

55,476

54,854

50,717

67,172

80,061

Singapore

23,821

55,076

48,002

56,659

64,793

67,523

26,239

33,377

24,490

15,147

28,814

40,660

Indonesia

4,877

13,771

19,241

19,138

18,817

22,580

2,249

2,664

7,713

5,422

6,647

7,077

Thailand Malaysia Vietnam Philippines Cambodia Myanmar Laos Brunei Timor-Leste

4,854 1,453 7,600 1,963 928 27 190 370 50

9,147 9,060 8,000 1,298 1,342 6,669 279 481 29

1,195 12,198 7,519 1,852 1,372 1,118 301 691 47

9,168 9,239 8,368 2,033 1,835 497 294 865 39

14,016 12,115 8,900 3,737 1,872 584 427 778 50

12,566 10,799 9,200 6,201 1,730 946 721 568 34

4,172 7,784 700 359 19 1 9 -

4,467 13,399 900 616 21 1 6 26

6,106 15,249 950 339 29 1 10 33

10,487 17,143 1,200 1,692 36 0 422 13

12,122 14,107 1,956 3,647 46 44 135 13

7,692 16,445 1,150 6,990 32 2 13

Source: UNCTAD, World Investment Report 2015

Foreign Direct Investment Stocks: inward and outward (1990, 2000, 2012, 2013,2014) Southeast Asia FDI Inwards Stock

Country

(Million US Dollars) FDI Outwards Stock

1990

2000

2012

2013

2014

1990

2000

2012

2013

2014

SE Asia total

61,640

657,603

1,319,479

1,553,205

1,687,452

9,471

84,563

596,075

720,413

845,669

Singapore

30,468

110,570

682,396

837,652

912,355

7,808

56,755

401,426

497,880

576,396

Indonesia

8,732

25,060

205,656

230,344

253,082

86

6,940

11,627

16,070

24,052

30,944 52,747 14,730 13,762 3,752 1,580 3,868 588 -

159,125 132,400 72,530 31,027 11,910 8,413 13,302 2,483 237

185,463 144,705 81,702 32,547 14,171 9,399 14,212 2,779 230

199,311 133,767 90,991 57,093 17,652 13,035 6,219 3,630 316

418 753 405 0 0 1 -

3,232 15,878 1,032 193 512 20 -

52,561 120,396 8,953 423 699 9 -

58,610 133,996 13,191 465 134 14 83

65,769 135,685 7,490 35,603 484 134 86

Thailand 8,242 Malaysia 10,318 Vietnam 243 Philippines 3,268 Myanmar 285 Cambodia 38 Brunei 33 Laos 13 Timor-Leste Source: UNCTAD, World Investment Report 2015

Gross Domestic Product at current price (total value) (countries ranked by 2015 size) Country China India Indonesia Thailand Malaysia Philippines Singapore Vietnam Myanmar Cambodia Laos Brunei

2009 5,059.72 1,365.37 577.539 281.575 208.914 168.485 192.406 101.634 38.065 10.391 5.582 11.893

2010 6,039.55 1,708.46 755.256 340.924 255.024 199.591 236.42 112.771 49.628 11.232 6.842 13.707

2011 7,492.53 1,843.02 892.59 370.608 297.961 224.143 275.37 134.598 56.002 12.818 8.062 18.527

2012 8,461.51 1,835.82 919.002 397.472 314.443 250.092 289.941 155.565 55.609 14.057 9.4 19.047

2013 9,490.85 1,875.16 912.502 420.167 323.342 271.928 302.246 170.565 56.699 15.362 10.788 18.092

2014 10,356.51 2,051.23 888.648 404.824 338.108 284.618 307.872 185.897 63.135 16.551 11.681 17.104

2015 11,384.76 2,182.58 872.615 373.536 313.479 299.314 293.959 198.805 65.775 17.714 12.548 11.636

(US$ billion) 2016 12,253.98 2,384.73 875.75 393.019 350.992 330.232 308.716 214.75 71.275 19.198 13.444 11.853

2017 13,173.59 2,607.41 950.438 411.266 392.439 366.753 328.299 229.845 79.046 20.86 15.02 13.038

2016 8.397 7.955 7.455 7.176 6.3 6.4 6.3 4.5 5.1 3.207 2.923 3.195

2017 8.339 7.488 7.541 7.183 6 6 6.51 5 5.5 3.571 3.216 3.757

Gross Domestic Product at constant prices (growth) (countries ranked by 2015 size) Country 2009 2010 2011 Myanmar 5.144 5.345 5.591 Laos 7.502 8.131 8.04 India 8.48 10.26 6.638 Cambodia 0.087 5.963 7.07 China 9.2 10.6 9.5 Vietnam 5.398 6.423 6.24 Philippines 1.148 7.632 3.66 Malaysia -1.514 7.528 5.294 Indonesia 4.702 6.378 6.17 Thailand -0.738 7.507 0.834 Singapore -0.603 15.24 6.207 Brunei -1.819 2.652 3.744 Source: IMF, World Economic Outlook Database, October 2015

2012 7.333 7.898 5.081 7.313 7.748 5.247 6.684 5.473 6.03 7.323 3.414 0.913

2013 8.428 7.968 6.899 7.428 7.685 5.421 7.055 4.713 5.579 2.809 4.443 -2.125

2014 8.465 7.424 7.286 7.004 7.3 5.984 6.132 5.993 5.025 0.866 2.918 -2.344

2018 14,272.35 2,846.16 1,021.23 432.409 437.428 407.942 348.796 247.415 87.474 22.765 17.097 14.551

2019 15,620.71 3,131.95 1,103.29 454.082 487.731 454.796 370.063 265.987 96.408 24.83 18.842 17.129

2020 17,100.06 3,443.60 1,193.91 473.997 544.418 507.251 394.977 287.257 106.221 27.089 20.713 19.1

(Percentage change year-on-year) 2015 8.499 7.538 7.259 6.95 6.813 6.5 6.002 4.7 4.66 2.494 2.202 -1.158

2018 7.952 7.206 7.646 7.341 6.1 6 6.507 5 5.8 3.403 3.161 5.458

The Link

2019 7.673 7.371 7.695 7.26 6.333 6 6.51 5 6 3.32 3.239 11.246

Issue 4/2015

2020 7.7 7.357 7.743 7.26 6.333 6 6.512 5 6 3.177 3.246 5.04

55

Gross Domestic Product per capita (countries ranked by 2015 size) Country Singapore Brunei Malaysia China Thailand Indonesia Philippines Vietnam Laos India Myanmar Cambodia

2009 38,577.17 31,288.36 7,439.44 3,791.47 4,205.56 2,464.96 1,851.48 1,181.45 890.638 1,159.06 771.565 734.655

2010 46,569.40 35,437.25 8,920.47 4,504.07 5,062.68 3,178.13 2,155.41 1,297.23 1,069.75 1,429.60 998.384 781.912

2011 53,122.37 47,097.43 10,252.58 5,560.94 5,479.29 3,688.53 2,379.44 1,532.31 1,236.24 1,513.85 1,117.58 877.635

2012 54,577.80 47,640.77 10,652.70 6,249.09 5,849.00 3,744.53 2,610.56 1,752.62 1,414.46 1,476.93 1,100.36 945.702

2013 55,979.76 44,540.15 10,796.94 6,974.87 6,152.06 3,667.35 2,789.45 1,901.70 1,593.59 1,488.99 1,112.19 1,018.22

(Current prices US$) 2014 56,286.55 41,460.17 11,049.28 7,571.54 5,896.36 3,524.08 2,862.38 2,051.17 1,693.28 1,607.65 1,227.85 1,080.82

2015 53,224.27 27,759.05 10,073.17 8,280.09 5,426.30 3,415.83 2,951.15 2,170.88 1,785.09 1,688.38 1,268.68 1,139.69

2016 55,509.40 27,817.65 11,090.07 8,866.00 5,697.49 3,383.87 3,192.15 2,320.70 1,876.90 1,820.80 1,364.02 1,216.90

2017 58,664.98 30,110.10 12,192.38 9,481.88 5,952.22 3,625.06 3,475.67 2,458.09 2,057.80 1,964.97 1,501.50 1,302.74

2018 61,941.66 33,069.94 13,362.93 10,219.41 6,250.29 3,844.82 3,790.20 2,618.59 2,298.72 2,117.05 1,649.85 1,400.66

2019 65,311.27 38,311.89 14,650.56 11,126.81 6,557.07 4,100.12 4,142.67 2,785.99 2,486.12 2,299.37 1,806.14 1,505.14

2014 83,065.59 79,890.18 25,145.35 15,578.56 13,224.00 10,651.34 6,973.67 5,808.43 5,655.79 5,005.83 4,752.40 3,275.67

2015 84,900.80 78,475.63 26,141.13 16,081.22 14,189.52 11,111.82 7,318.39 6,209.48 6,019.51 5,334.63 5,164.10 3,485.43

2016 87,809.15 80,614.11 27,180.13 16,759.37 15,183.53 11,664.87 7,717.58 6,664.02 6,413.76 5,718.78 5,620.06 3,724.09

2017 91,641.99 83,742.77 28,551.16 17,631.31 16,290.05 12,359.33 8,199.30 7,196.77 6,845.43 6,137.54 6,148.80 4,001.15

2018 95,883.50 88,698.15 30,083.19 18,582.19 17,547.26 13,172.59 8,737.48 7,803.56 7,328.52 6,589.79 6,726.32 4,318.32

2019 100,513.27 99,221.02 31,734.25 19,596.90 18,964.96 14,082.24 9,322.04 8,475.19 7,854.82 7,094.46 7,350.07 4,662.54

2014 5.908 6.395 5.927 5.5 3.143 4.08 4.174 1.988 3.852 1.025 -0.24 1.895

2015 12.17 6.812 5.378 5.3 2.4 2.2 1.885 1.5 1.065 0.038 0 -0.856

2016 11.76 5.435 5.52 1.533 3.8 3.05 3.378 1.8 1.799 1.836 0.1 1.456

2017 9.2 4.65 5.424 2.3 3 3.75 3.46 2.2 2.929 1.931 0.1 2.2

2018 7.7 4.5 5.064 2.7 3 4.1 3.5 2.5 3.042 1.909 0.2 2.2

2013 102.117 65.813 60.127 52.59 55.894 42.205 39.419 39.245 33.002 34.773 24.903 2.209

2014 98.572 66.073 62.49 57.188 55.163 43.525 41.144 36.404 33.877 31.597 24.959 2.307

2015 98.705 65.26 63.386 61.215 55.558 43.526 43.2 35.875 34.256 33.429 26.545 3.168

2016 95.77 63.89 66.503 63.719 53.63 42.588 45.981 33.903 33.93 33.382 26.706 3.09

2017 92.685 62.801 68.814 66.095 51.781 42.203 48.273 32.037 33.251 33.611 26.868 2.814

2018 89.86 61.722 69.629 67.12 49.665 42.024 50.037 30.316 32.433 34.061 26.695 2.526

2013 17.894 -0.924 4.186 1.562 3.483 4.541 -1.728 -3.191 29.424 -5.221 -12.237 -27.837

2014 19.09 3.313 4.443 2.121 4.276 4.919 -1.342 -2.952 28.349 -6.099 -12.247 -27.758

2015 20.816 6.212 4.979 3.055 2.212 0.675 -1.392 -2.242 -3.068 -8.92 -11.128 -28.294

2016 17.964 5.44 4.504 2.81 2.098 -0.871 -1.562 -2.146 -2.135 -8.271 -10.58 -22.736

2017 16.682 3.674 3.99 2.03 1.79 -0.218 -2.009 -2.048 4.822 -7.681 -9.966 -20.231

2018 15.517 2.053 3.478 1.375 1.306 0.127 -2.398 -2.011 9.786 -7.464 -8.695 -17.808

2019 14.613 1.153 2.98 0.961 1.238 1.499 -2.499 -1.863 14.758 -7.005 -7.869 -16.803

2013 1,360.72 1,259.35 248.818 97.484 89.691 68.297 50.979 29.948 15.087 6.77 5.399 0.406

2014 1,367.82 1,275.92 252.165 99.434 90.63 68.657 51.419 30.6 15.313 6.898 5.47 0.413

2015 1,374.96 1,292.71 255.462 101.423 91.578 68.838 51.846 31.12 15.543 7.029 5.523 0.419

2016 1,382.13 1,309.71 258.802 103.451 92.537 68.981 52.254 31.649 15.776 7.163 5.562 0.426

2017 1,389.34 1,326.94 262.185 105.52 93.505 69.095 52.645 32.187 16.013 7.299 5.596 0.433

2018 1,396.59 1,344.40 265.613 107.631 94.484 69.182 53.019 32.734 16.253 7.438 5.631 0.44

2019 1,403.88 1,362.09 269.086 109.783 95.473 69.251 53.378 33.291 16.497 7.579 5.666 0.447

GDP Purchasing-power-parity per capita (countries ranked by 2015 size) Country Singapore Brunei Malaysia Thailand China Indonesia Philippines India Vietnam Laos Myanmar Cambodia

2009 61,604.06 77,667.20 19,020.95 12,183.02 8,271.15 7,943.14 5,184.11 4,084.95 4,123.42 3,467.15 3,245.74 2,331.44

2010 70,598.10 79,302.82 20,335.81 13,181.29 9,215.40 8,432.70 5,550.36 4,494.01 4,395.52 3,719.08 3,434.94 2,462.23

2011 74,949.24 82,567.71 21,498.37 13,505.89 10,249.94 8,973.56 5,772.51 4,801.36 4,716.98 4,022.07 3,672.22 2,646.49

2012 77,023.02 83,492.21 22,736.32 14,692.95 11,191.93 9,554.34 6,167.03 5,032.61 5,003.44 4,336.88 3,980.14 2,841.96

2013 80,442.89 81,741.78 23,848.75 15,275.22 12,188.40 10,112.04 6,593.82 5,396.53 5,305.15 4,671.68 4,347.90 3,056.97

(Current US$)

Inflation: average consumer prices (countries ranked by 2015 size) Country Myanmar Indonesia India Laos Malaysia Vietnam Philippines China Cambodia Singapore Brunei Thailand

2009 2.246 5.047 10.604 0.034 0.597 6.72 4.213 -0.7 -0.663 0.597 1.043 -0.85

2010 8.222 5.14 9.534 5.984 1.72 9.21 3.784 3.3 3.997 2.823 0.216 3.28

2011 2.766 5.344 9.443 7.581 3.174 18.68 4.718 5.4 5.478 5.248 0.142 3.809

2012 2.829 3.981 10.249 4.259 1.664 9.1 3.171 2.646 2.925 4.576 0.108 3.015

2013 5.711 6.413 9.991 6.371 2.105 6.6 2.933 2.624 2.955 2.359 0.382 2.185

2009 99.684 72.527 63.204 45.167 51.124 42.378 36.119 44.343 29.146 54.961 26.483 1.11

2010 97.035 67.458 62.095 48.084 51.94 39.859 36.012 43.462 29.367 49.522 24.525 1.113

2011 100.979 68.096 56.902 46.54 52.636 39.137 35.603 41.412 30.298 49.309 23.106 2.129

2012 105.498 67.451 62.191 48.611 54.552 41.927 37.051 40.609 32.051 43.067 22.96 2.101

2009 16.819 7.776 5.012 4.808 15.04 -6.502 -2.796 1.84 41.588 -1.164 -6.917 -22.146

2010 23.663 2.94 3.598 3.938 10.082 -3.792 -2.813 0.702 43.973 -1.095 -6.847 -20.105

2011 21.993 2.402 2.518 1.816 10.894 0.173 -4.241 0.189 38.788 -1.898 -10.166 -17.284

2012 17.167 -0.377 2.778 2.546 5.166 5.957 -4.802 -2.657 29.56 -4.176 -11.003 -30.191

2009 1,334.50 1,178.00 234.3 91 86.025 66.953 49.334 28.082 14.144 6.268 4.988 0.38

2010 1,340.91 1,195.06 237.641 92.6 86.933 67.341 49.708 28.589 14.365 6.396 5.077 0.387

2011 1,347.35 1,217.44 241.991 94.2 87.84 67.638 50.11 29.062 14.605 6.521 5.184 0.393

Source: IMF, World Economic Outlook Database, October 2015

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2012 1,354.04 1,243.00 245.425 95.8 88.762 67.956 50.537 29.518 14.864 6.646 5.312 0.4

2020 6.6 4.097 4.94 3.3 3 4.9 3.518 3 3.165 1.804 0.1 2.2

2019 91.049 60.526 71.764 67.889 47.257 41.955 51.037 28.76 31.504 34.675 26.429 2.145

2020 92.269 59.337 73.26 68.118 44.458 41.469 51.448 27.338 30.309 35.141 26.123 1.934

(Percentage of GDP)

Population ASEAN+2 (countries ranked by 2015 size) Country China India Indonesia Philippines Vietnam Thailand Myanmar Malaysia Cambodia Lao P.D.R. Singapore Brunei

2019 6.95 4.3 4.892 3.1 3 4.55 3.489 3 2.918 1.803 0.098 2.2

(Percentage of GDP)

Current Account Balance (countries ranked by 2015 size) Country Singapore Thailand Philippines China Malaysia Vietnam India Indonesia Brunei Myanmar Cambodia Laos

2020 105,356.69 104,779.97 33,470.40 20,639.34 20,493.82 15,052.22 9,944.26 9,207.21 8,417.53 7,635.52 8,034.94 5,033.37

(Percentage change year-on-year)

General Government Gross Debt (countries ranked by 2015 size) Country Singapore India Laos Vietnam Malaysia Thailand China Philippines Cambodia Myanmar Indonesia Brunei

2020 69,276.45 42,043.99 16,079.97 12,117.35 6,839.29 4,379.64 4,529.88 2,977.62 2,681.93 2,495.35 1,977.24 1,617.79

2020 13.753 0.797 2.501 0.557 1.099 2.469 -2.513 -1.677 12.465 -6.677 -6.272 -14.813

(million persons) 2020 1,411.21 1,380.01 272.604 111.979 96.472 69.305 53.722 33.857 16.744 7.723 5.701 0.454

Britain in South East Asia (BiSEA) Fax: 603-2163-1781 Email: britcham@bmcc.org.my Website: www.bmcc.org.my Chairman: Dato Larry Gan General Manager: Nik Tasha Nik Kamaruddin Cambodia British Chamber of Commerce in Cambodia British Chamber of Commerce, Cambodia (BritCham) Office: British Embassy, #27-29 Street 75, Phnom Penh, Cambodia Tel: 855-1232-3121 E-mail: executivedirector@ britchamcambodia.org Website: www.britchamcambodia.org Chairman: Darren Conquest Executive Director: Olivia Widen

Indonesia British Chamber of Commerce in Indonesia Wisma Metropolitan 1, 15th Floor, Jl. Jend, Sudirman Kav 29-31 Jakarta, Indonesia 12920 Tel: 62-21-522-9453 Fax: 62-21-527-9135 Email: chriswren@britcham.or.id Website: www.britcham.or.id Chairman: Adrian Short Executive Director: Chris Wren

Malaysia British Malaysian Chamber of Commerce E04C1, 4th Floor East Block Wisma Selangor Dredging 142-B Jalan Ampang 50450 Kuala Lumpur, Malaysia Tel: 603-2163-1784 /1786

MYANMAR British Chamber of Commerce Myanmar Hintha Business Centre Floor 3, 608 Merchant Street (corner of Merchant & 31st) Pabedan Township Yangon, Myanmar Mobile: +95 (0)9250423475 Email: stephanie@ britishchambermyanmar.com President: Antony Picon Executive Director: Stephanie Ashmore

Philippines British Chamber of Commerce of the Philippines c/o The British Embassy Manila 120 Upper McKinley Road McKinley hill, Taguig City 1634 Metro Manila, Philippines Tel: 632-858-2255/858-2372/ 858-2373 Fax: 632-858-2390 Email: chairman@bccphil.com Website: www.bccphil.com Chairman: Roger Lamb General Manager: Chris Boughton

Singapore British Chamber of Commerce in Singapore 138 Cecil Street, #11-01 Cecil Court Singapore 069538 Tel: 65-6222-3552 Fax: 65-6222-3556 Email: info@britcham.org.sg Website: www.britcham.org.sg President: Mr. Hugo Walkinshaw Executive Director: Brigitte Holtschneider

Thailand British Chamber of Commerce Thailand (BCCT) 7th Floor, 208 Wireless Rd., Lumpini Pathumwan, Bangkok 10330 Tel: 66-2651-5350-3 Fax: 66-2651-5354 Email: greg@bccthai.com Website: www.bccthai.com Chairman: Simon Matthews Executive Director: Greg Watkins

Vietnam British Business Group Vietnam Ho Chi Minh City G/F 25 Le Duan Blvd, District 1 Ho Chi Minh City, Vietnam Tel: 84-8-3829-8430 Fax: 84-8-3822-5172 Email: info@bbgv.org Website: www.bbgv.org Hanoi 193B Ba Trien, Hai Ba Trung District Hanoi, Vietnam Tel: 84 4 6674 0945 Chairman: Nick Holder Executive Director: Wai Kit The Link IssueHo 4/2015 57

Chamber Events

Ploenchit Fair 2015 Enjoy this photo montage of yet another successful and highly enjoyable Ploenchit Fair. Once again, this popular annual fixture in the Bangkok calendar has raised a bumper sum for charities and people in need.

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BCCT Two-Day Workshop

Phuket Business Dinner

1 & 2 September 2015

3 September 2015

Neil Stoneham, Managing Director of Voxtree, facilitated BCCT Two-Day Workshop on “Write to Sell”. This workshop was held at Hilton Sukhumvit on Tuesday 1 September to Wednesday 2 September.

BCCT in collaboration with NTCC, GTCC, and FTCC held the Joint Chambers Phuket Business Dinner covering the topic “Phuket’s Tourism Future – Public and Private Sector Plans” held at Amari Phuket. The event was highly successful and attended by more than 100 attendees.

- Neil Stoneham (standing), makes his presentation to workshop attendees.

Pictured from left - Dr. Punlop Singhasenee, Phuket Vice Governor - Khun Anoma Vongyai, TAT Phuket Director

Joint Evening Presentation on Myanmar

BCCT/British Embassy Briefing

7 September 2015

9 September 2015

BCCT with support from TCCC and ITCC held the Joint Evening Presentation on “Myanmar Investment: Where Are We?” at the British Business Centre, BCCT Office.

Members from BCCT on Wednesday 9 September attended “Meet the Embassy” briefing held at The Queen Vic on the British Embassy compound. Issues addressed during this briefing included an overview of Consular assistance and other services for British Nationals in Thailand.

- Guest speaker Gary Biesty, Partner of South Asia Law and Chairman of BCCT Myanmar Group, addressed more than 45 guests on the night.

- UK expats enjoyed meeting British Embassy consular staff.

Thank you to our sponsors.

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- Dale Lawrence, SKAL Thailand President - Grenville Fordham, Image Asia Managing Director - Nick Porter, Movenpick GM - Chris Thatcher, BCCT Vice Chairman

Chamber Events

BCCT Two-Day Workshop

BCCT After Hours

10 September 2015

11 September 2015

“Selling in Challenging Times” workshop was held Thursday 10 to Friday 11 September at Mode Sathorn Hotel Bangkok.

Member and non-members were facilitated by Laurie Smith, Director of Advance Learning & Development.

MahaSamutr Country Club Hua Hin hosted BCCT ‘After Hours’ at MahaSamutr Membership Pavilion in Bangkok on Friday 11 September.

- BCCT Two-Day Workshop always attract good support from BCCT members.

Pictured from left: - BCCT Business Development Manager Jina Phenix - MahaSamutr Country Club Estate

Manager Charles Barker - BCCT Chairman Simon Matthews - BCCT member Howard Bryant

BCCT Lunch Boardroom Briefing

Third Thursday Networking Evening

15 September 2015

17 September 2015

Justin Barnett was guest speaker for BCCT Lunch Boardroom Briefing on Crisis Management. This briefing was held on Tuesday 15 September at the British Business Centre, BCCT Office.

Amari Boulevard Bangkok kindly hosted BCCT Third Thursday Networking Evening on Thursday 17 September.

- Justin Barnett (right) gives his briefing on Crisis Management.

Pictured from left - BCCT Chairman Simon Matthews - Amari Boulevard GM Alexandre Frenkel

- BCCT Director David Cumming - BCCT Vice-Chairman Chris Thatcher

Thank you to our sponsors.

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Chamber Events

BCCT Boardroom Briefing

Two-Day Thai Language Workshop

22 September 2015

24 September 2015

On Tuesday 22nd September, Paul Westover, Head of Corporate at Stephenson Harwood’s Hong Kong Office, was guest speaker at BCCT Boardroom Briefing on “Managing Legal Risk”.

BCCT Two-Day Thai Language Workshop on “SpeakPro” Presentation Skills” was held on Thursday 24 to Friday 25 September at Aloft Bangkok – Sukhumvit 11.

- Pictured left is guest speaker Paul Westover with BCCT Director Stephen Frost.

- This session was facilitated by Pachara Yongjiranon (first row, fourth from left), Corporate Trainer & Presentation Coach at SpeakPro Training.

BCCT Boardroom Briefing

BCCT Eastern Seaboard After Hours

29 September 2015

30 September 2015

Cristiano Sant’ Anna, Senior Manager at PricewaterhouseCoopers Consulting (Thailand) Ltd, was guest speaker for BCCT Boardroom Briefing on “How to Combat Fraud” on Tuesday 29th September at British Business Centre, BCCT Office.

BCCT headed down to Pattaya on Wednesday 30 September to organise our first Eastern Seaboard ‘After Hours’ at Jameson’s The Irish Pub.

- Cristiana Sant’ Anna from Pricewaterhouse-Coopers Consulting.

- The After Hours informal gathering in Pattaya.

Thank you to our sponsors.

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Chamber Events

BCCT After Hours

BCCT Evening Panel Discussion

1 October 2015

6 October 2015

Hosted by Regus Centre Thailand, in conjunction with the grand opening of EmQuartier Business Centre on Thursday 1st October, the event allowed BCCT members to experience Regus’s business centre and take in Bangkok’s skyline view from the 30th floor of Regus Bhiraj Tower.

On Tuesday, 6 October, BCCT Evening Open Panel Discussion on “Taxation in Thailand” allowed BCCT members and non-members to share questions, observations and knowledge about Thai taxation with a selected panel of experts from the BCCT Tax and Legal Committee.

Pictured from left - BCCT Chairman Simon Matthews - Regus Centre Thailand Country Manager Christoph Hodapp

Pictured from left - John Casella, PKF Tax and Consulting Services - Tatiana Bespalova, KPMG Thailand - Teerakarn Noichiaum, Bangkok

- Bhiraj Management Client Services Manager Navasorn Bisonyabut - Regus Centre Thailand Area Director Wimolnit Lertpitakkit

International Associates - Damian Norris, Mazars - Stephen Frost, Chairman of BCCT Legal & Taxation Group

BCCT Boardroom Briefing

BCCT Boardroom Briefing

8 October 2015

12 October 2015

Members and non-members joined BCCT Boardroom Briefing on “Locating in Southeast Asia - Weighing up the Headquarter Options” on Thursday 8 October.

Arcadia (Thailand) kindly sponsored BCCT Myanmar Briefing on “Myanmar’s Politics and Upcoming Election” held on Monday 12 October at the British Business Centre.

- David Sandison, International Tax Consultant at Grant Thornton, was guest speaker for the briefing.

Pictured from left - Arcadia Managing Director Wiriya Pienchob

- UKTI Rangoon Director Lisa Weedon - BCCT Director/Arcadia Director Ali Adam

Thank you to our sponsors.

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Chamber Events

Tourism & Hospitality Presentation

Third Thursday Networking Evening

13 October 2015

15 October 2015

BCCT Tourism and Hospitality Evening Presentation on “Thailand’s Hotels Readiness to Deal with Serious Security Related Incidents” was held at The Landmark Bangkok Hotel on Tuesday, 13 October.

BCCT Third Thursday Networking Evening was kindly hosted by Amara Bangkok Hotel on Thursday 15 October.

More than 70 guests experienced the newly opened hotel chain from Singapore and tasted their signature dishes.

Pictured from left - Managing Director of The Winning Edge Bert van Walbeek - Business Development Manager of Securitas Rob Scarr

Pictured from left - Amara Bangkok Assistant Director of Sales-Leisure Patrick Eger - BCCT Director Carl Sellick - Amara Bangkok Director of Sales &

- Senior Vice President Engineering - Safety & Security of Onyx Hospitality Group Geoff Fordham - General Manager of Marriott Executive Apartments Sathorn Vista Daryn Hudson

Marketing Kussarin Amonthakonsuwet - Amara Bangkok Assistant Director of Sales-Events Nannaphat Jiemrugeekul

Phuket Business Dinner

BCCT Lunch Boardroom Briefing

22 October 2015

27 October 2015

BCCT, in collaboration with Netherlands, French and German chambers of commerce hosted the Phuket Business Dinner on “Hospitality Investment in Asia” by Richard Intrator, of Hathor Group, and “Entrepreneurship in the Tourist Industry” by Christopher Gordon, of The Village Coconut Island.

On Tuesday 27 October, Laurie Smith, Director of Advance Learning & Development, was guest speaker at BCCT Lunch Boardroom Briefing on “Winning Business in Challenging Times”. This event is kindly sponsored by Lucy Electric (Thailand) Limited.

- This event was kindly sponsored by APCWL Lifestyle Expo, Paul Poole (South East Asia) Company Limited, The Village Coconut Island and The Phuket News.

- Laurie Smith (standing) shares his expertise with guests at the Boardroom Briefing.

Thank you to our sponsors.

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Chamber Events

BCCT ESB Dinner

Harvard Business School case study

30 October 2015

2 November 2015

British Ambassador to Thailand, H.E. Mark Kent, was guest speaker at “BCCT Eastern Seaboard Dinner with the British Ambassador” held at Pattaya Marriott Resort & Spa. This event was kindly sponsored by Regents International School Pattaya, BMW Manufacturing (Thailand) and Savills Thailand.

The third Harvard Business School case-study for this year was held on Monday, 2 November at the British Business Centre.

Pictured from left are - MBMG Managing Director Graham MacDonald - Regent International School Pattaya Principal Iain Blaikie

- John Wagner, Director of Powa Technologies Limited, covered the “Samsung’s Dilemma” case study in two sessions to groups comprising BCCT members and non-members.

- British Ambassador H.E. Mark Kent - BCCT ESB Chairman Mark Bowling - Savills CEO Robert Collins - BMW Manufacturing CEO Jeffrey Gaudiano

BCCT Lunch Boardroom Briefing

Joint Chambers Luncheon

4 Wednesday 2015

9 November 2015

Alain Goudsmet, Top Executive Coach, Trainer and Keynote Speaker from Mentally Fit Institute addressed BCCT guests at our Lunch Boardroom Briefing on “The Power of Action – Closing the Knowing-Doing Gap”. This event was held at our British Business Centre on Wednesday 4 November.

BCCT in partnership with the American, Australian and Netherlands Chambers of Commerce welcomed Khun Sugree Sithivanich, TAT, at the Joint Chambers Luncheon on “TAT Moving Forward and What it can do for Thailand” held on Monday 9th November at The Okura Prestige Bangkok.

- Alain Goudsmet during the briefing session

- Khun Sugree Sithivanich, Deputy Governor of TAT, was guest speaker.

Thank you to our sponsors.

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Chamber Events

BCCT Wine Evening

BCCT/British Embassy Briefing

10 November 2015

11 November 2015

Pernod Ricard Thailand kindly hosted BCCT Wine Evening on Tuesday 10 November at their head office’s private bar Le Cercle. Guests enjoyed several Jacob Creek wines and gained insight into techniques of proper wine tasting.

Members from BCCT on Wednesday 11 November attended “Meet the Embassy” briefing on the Visa sector, held at The Queen Vic on the British Embassy compound.

- Many thanks to Pernod Ricard Thailand for a most enjoyable and entertaining evening.

- BCCT members always enjoy the opportunity to meet staff at the British Embassy in Bangkok.

BCCT Boardroom Briefing

Joint Chambers WSB Networking

12 November 2015

13 November 2015

On Thursday 12 November, Dang The Duc (pictured), Managing Partner of Indochine Counsel in Ho Chi Minh City, Vietnam, was guest speaker for BCCT Boardroom Briefing on Investment in Vietnam.

The last Joint Chambers Western Seaboard Networking Evening for the 2015 year was hosted by Hot Property Hua Hin on Friday, 13 November, at Red Piano Restaurant in Hua Hin.

- Mr Dang The Duc makes his presentation.

- Marten Ruge (Ferrostaal), John Hocking(Cliff Premiums), Anthony Kelly (Hot Property), Richard Vine (Hua Hin Sailing Club) and Jina Phenix (BCCT staff).

Thank you to our sponsors.

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Comings and Goings The British Chamber of Commerce Thailand welcomes the following new members:

Aigroup, Russia 3Rd, Frunzenskaya, 5 Building 1, Office 1 Moscow 119270, Russia Tel: +7 495 777 2577 Email: kim@aigroup.ru Website: www.aiGroup.ru

Representative: Mr. Kim Waddoup, Director Background: The aiGroup is a Russian company based in Moscow. Our President has 22 years experience in working in Russia and understands the complexity of operating in the former USSR. Our major specialities are the organisation of specialised exhibitions, publishing, marketing and consultancy. We are especially well positioned to assist and advise Thai companies looking to enter the vast Russian marketplace.

Bamboo Labs Co., Ltd. 6th Floor, Unit 6G 29 Vanissa Building, Soi Chidlom Ploenchit Road, Bangkok 10330 Tel: +66 (0) 2655-5242 Fax: +66 (0) 2655-5245 Email: service@bamboolabs.com Website: www.bamboolabs.com

Representatives: Mr. Martin Rennie, Managing Director Mr. Samir Sukhadia, CEO Background: What do we do?

Bamboo Labs provides consulting and outsourced services to companies, customized to improve their ROMI. How do we do it?

Our team of experts brings together all aspects of developing and implementing a successful online strategy.

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Whom do we do it for?

Our clients are companies with forwardlooking management who see that the fundamental rules and execution of marketing have changed. They see that Social Media is the new norm and want to get out ahead of their competitors.

What value are we bringing?

We connect the critical components of strategy, design, and implementation to leverage various social media tools from LinkedIn to Facebook to YouTube and beyond. Our clients determine their objectives with our guidance and we deliver the results – increased revenue, improved brand awareness, an improved professional network, attracting new talent, and more.

Be And Become Co., Ltd. 152 Wireless Road, 5th Floor Kian Gwan House III, Lumpini Pathumwan, Bangkok 10330 Tel: +66 88 399 0935 Fax: +66 (0) 2650 9739 Email: amelie@bblifecoaching.com Website: www.bblifecoaching.com

Representative: Ms. Amelie Yan-Gouiffes, Certified Life and Leadership Coach, Public Speaker and Trainer Background: Be and Become® dedicates to help people and companies to take their life and work to new heights, through coaching, counseling and training. Be and Become® is present in Bangkok, Mumbai and Singapore. Services are provided in English, French, Spanish and Thai.

Benham and Reeves Residential Lettings (Singapore) Pte Ltd. 230 Orchard Road, 05-230A Faber House, Singapore 238854 Tel: +65 6463 6026 Fax: +65 6463 6026 Email: singapore@brlets.com Website: www.brlets.co.uk

Representative: Ms. Lynne Geeves, Director Background: Benham and Reeves Residential Lettings strive to do their best for London property owners. For over 50 years, we’ve been dealing exclusively with rented accommodation in prime London locations. With 14 offices in central London and 5 overseas offices including Singapore, Hong Kong, Malaysia, Dubai and India, your property could not be in better hands.

BMRS Asia Co.,Ltd. 10th Floor, 42 Tower Soi 42 Sukhumvit Road Prakanong, Klongtoey, Bangkok 10110 Tel: +66 (0) 2713-6070 Fax: +66 (0) 2713-6074 Email: info@bmrs-asia.com Website: www.bmrs-asia.com

Representative: Mr. Andy Gower, Managing Partner & Director of Research Background: With full-service offices and experienced researchers in both Thailand & Cambodia, Business & Marketing Research Solutions (BMRS) Asia was founded in 2004 by partners with more than 20 years experience as research directors in the world’s largest market research companies.

We provide professional marketing research and consultancy services to a wide range of multinational and local Clients.

Our streamlined and efficient operations allow us to provide our clients with a more personal and customised approach to understanding the local marketplace and its consumers, whilst maintaining international standards of quality and work ethics. Our policy is always to have a native Englishspeaking Expat Research Director in daily charge of each project, to ensure that all aspects of the project completely fulfill our client’s requirements and objectives.

We also manage online surveys as part of company CRM programmes.

Chapman Taylor (Thailand) Co., Ltd. 153/3, Goldenland Building, 3rd Fl., Unit A3 Soi Mahardlekluang 1, Rajdamri Road Lumpini, Prathumwan, Bangkok 10330 Tel: +66 (0) 2652-2270-3 Email: info@chapmantaylor.co.th Website: www.chapmantaylor.com

Coastal Property Services Co., Ltd. 216/62, Moo 10, Soi 13 Nongprue, Banglamung, Chonburi 20150 Tel: +66 (0) 38 421 580 Email: info@coastalrealestatepattaya.com Website: www.coastalrealestatepattaya.com

Representatives: Mr. Sheldon Parent, Associate Director, South East Asia Mr. Jon Grant, Director, South East Asia

Representatives: Ms. Angie Turton, Development & Admin Manager Mr. Kevin Mattson, Managing Director

Background: Chapman Taylor is an international practice of architects, masterplanners and interior designers operating from 19 regional offices and with experience of working in over 90 countries around the world. The practice was established in the UK in 1959 and developed an early reputation as the designers of many prestigious office and residential developments in Central London, as well as working on the masterplanning of some of the major London estates.

Background: Coastal Real Estate was founded with one goal in mind: Make buying, selling, and renting real estate a simple, hassle free process for everyone involved. Drawing on eighteen years of experience in real estate markets in the U.S. and Thailand, this goal was realized when Coastal Real Estate opened the doors to its Pattaya, Thailand location in 2010.

During the 1970s and 1980s the practice was at the forefront of the dramatic expansion of the retail sector in the UK and designed the majority of the many successful shopping centres built at that time. In the early 1990s Chapman Taylor commenced its growth internationally, designing many projects outside the UK and opening its first offices on mainland Europe. The first decade of the 21st century saw the consolidation and expansion of the practice to encompass projects and offices in three continents.

Chapman Taylor’s success has been principally due to the quality of its people and their ability to be able to produce high quality design together with an understanding of what makes the building successful commercially, operationally, environmentally and socially.

It is our objective to continually evolve as an architectural practice, always striving to find new solutions to traditional challenges and to provide the best possible service to our clients and the community.

Chapman Taylor Thailand Bangkok is our most recently opened office and was established in July 2011, where we have been specializing in mixeduse developments, retail, residential and Hospitality projects in both Architecture and Interior Design.

At Coastal Real Estate you are not looked at as just another customer. We will listen to your needs and tailor a plan to fit.

Whether you’re in the market for a place to call home, an investment property, or are looking for a responsible, competent firm to manage your existing property, we will exceed your needs and expectations.

The same care is given to clients who are looking for that perfect place to enjoy a dream vacation or extended stay in Pattaya. Coastal Real Estate’s clients are its number one asset and are treated accordingly. We realize your time is valuable and will only show you properties that meet your requirements.

Consultancy Academy Preees Green, Shropshire SY132BN Tel: +66 (0) 2512 2957 Email: enquiries@consultancyacademy.com Website: www.consultancyacademy.com

Representatives: Mr. Andrew Sloan, Country Manager Mr. Glyn Cartwright, Director Background: The Academy was developed, was to integrate the academic communities with practitioners, bringing

“…research into practice…” and “…practice into research…”. The Academy is an independent organisation which sees itself as both academic and practice based. Its ‘independence’ comes from the fact that the Academy is not ‘in the pocket’ of a University; nor is it a subsidiary of an existing consulting company. As such, it can bring the best of both worlds, to achieve its raison d’etre, which is to bring about “…good thinking in practice!”.

Creditreform (UK) Limited 4 Park Road, Moseley Birmingham B13 8AB Tel: +44 (0)121 442 5330 Fax: +44 (0)121 442 5340 Website: www.creditreform.co.uk Representative: Mr. Sean Hemmings, Director

De Group 90 Map Ya Road, Map Ta Phut Muang, Rayong 21150 Tel: +66 (0) 38 682 334, 682 341 Fax: +66 (0) 38 682 463 Email: deltary@degroup.th.com Website: www.degroup.th.com

Representative: Mr. Aekkorn Sunthornviphartphoom, Managing Director Background: DE Group has more than 45 years of experience in the fields of industrial applications. We are the country’s leading supplier of Mechanical equipment, Electrical equipment, Instruments, and Controls for various industries in Thailand.

The company’s main focus is to provide highly reliable engineering products and quality services to meet and to exceed each of our customers’ specifications and requirements.

We are proud to be one of pioneer companies in Thailand, having served the country’s industries from the initial development stages of the oil & gas, petrochemical, and power industries. For almost five decades the company has gained trust and built long-term relationships from many of our valued customers in various industries across the world. We aim to continue to foster new relationships, while maintaining and strengthening our current relationships for decades to come.

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G.W.H. Trading Co., Ltd. The Sportsman Bar and Restaurant Units 10/22 and 10/47 Trendy Condo, Sukhumvit Soi 13, North Klongton Wattana, Bangkok 10110 Tel: +66 (0) 2168-7242 Email: info@sportsbarbangkok.com Website: www.sportsbarbangkok.com Representatives: Mr. Paul Hatch, Director Mr. Joseph Veriato, Director Background: We are a British pub but our customers come from all over the world. We always have a manager on duty as customer service is very important to us. We pride ourselves on our huge selection of local and imported selection of drinks and foods. We can show almost any sport from anywhere in the world. If it is on TV somewhere then there’s a good chance we will show it. Just drop us an email if interested in any sport or if a venue is needed for your works party or for any other reason.

Good Spirit Co., Ltd. 201, Choke Chai 4, Soi 54 Lad Prao 53, Bangkok 10230 Tel: +66 (0) 2539-1477 / 87 328 2090 Fax: +66 (0) 2539-4987 Email: brice@goodspirit.co.th Website: www.goodspirit.co.th

transportation, all over Thailand, but we specialise in Hua Hin, as this is where we are based.

Representatives: Ms. Afshan Baksh - Associate Director, International Development Mrs. Admira Kijac - International Development Officer Background: Harrow College provides choice and opportunity. Your success is our priority! Our vision is to strive for excellence in all we do and to seek to develop new learning opportunities for all. Harrow College has over 100 years of experience in vocational and academic programmes and provides choice and opportunity for students, international students and commercial training for businesses and their employees. The College currently has almost 8000 students. Harrow College has excellent facilities for teaching and learning across four campuses and offer a broad range of facilities and resources such as art and design studios, IT facilities, hair and beauty training salons, 11 science labs, sports facilities, lecture theatre, conferencing facilities, business incubation hub and Enterprise Centre.

As well as providing high quality education and training in the UK, Harrow College has an extensive and robust international portfolio. We have delivered successful British Council projects, worked with employers on commercial contracts, developed skills of teachers and education leaders and worked with governments and ministries in a number of different countries including Thailand.

ICPA (Thailand) Limited 191 Silom Complex, 21st Floor, Suite A2 Silom Road, Silom, Bangrak Bangkok 10500 Tel: +66 (0) 2632-1287 Fax: +66 (0) 2632-1539 Website: www.icpa.com Representative: Mr. Tony Rodriguez, Managing Director Background: ICPA has been providing global companies with executive recruitment services since 1992. Our consultants have years of experience recruiting in their specialties. Whether you need a very senior professional or are hiring mid-career staff, our consultants have established contacts and are ready to quickly help you.

Our industry groups are focused on finding you candidates in these industries: Software, Consulting, Finance, Insurance, Systems Integration Telecomm and Networking, Sales and Marketing, Accounting

IDG Security House L21, FMI City, Hlaing Thar Yar Township Yangon 11401, Myanmar Tel: +95 (0) 168 7920 Email: nigel.wells@idg-security.com Website: www.idg-security.com

Representatives: Mr. Brice Laval, Managing Director Khun Pakdee Tawapura, Co-Owner Background: Good Spirit would like to offer you a remarkable selection of French wines imported directly from local winemakers. Working closely with these producers, we have come to know their winemaking methods, appreciate their passion for quality, and are, therefore, able to source the best wines possible. Each choice product envelops a specific blend of authentic aroma and taste, recalling its unique “Terroir” of origin. Managing the entire process of importation ourselves, we, at Good Spirit, are able to offer to our valuable customers, a quality product at an affordable price.

Harrow College Lowlands Road, Harrow, Middx HA1 3AQ Tel: +44 208 909 6000 Email: international@harrow.ac.uk Website: www.harrow.ac.uk

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Hua Hin Golf Tours Co., Ltd. 2/136 Nabkahards Road, Hua Hin, Prachuabkirikhan 77110 Tel: +66 (0) 32 530 476-8 Fax: +66 (0) 32 512 085 Email: info@huahingolf.com Website: www.huahingolf.com, www.huahingolfvilla.com

Representatives: Mr. Jason Swain, Marketing Manager Background: Hua Hin Golf Tours was founded in 1992 and is Thailand’s first registered golf tour company. We offer golf packages, hotel, green fees and all

Representative: Mr. Nigel Wells, Director Background: IDG was formed in 2001 in Singapore by Iain Gordon (ex Assistant Commissioner Singapore police GC, and ex 7 Gurkha rifles) the MD to provide a quality security service utilizing ex Gurkha servicemen from the British Army, Indian Army and the Singapore GC. We operate in many locations globally providing security services to many International organization’s including the UN and EU.

Ipsos Business Consulting 21st, 22nd Floor, Asia Centre Building, 173 South Sathorn Road Thungmahamek, Sathorn, Bangkok 10120 Tel: +66 (0) 2697 0100 Fax: +66 (0) 2697 0200 Email: thailand.bc@Ipsos.com Website: www.ipsosconsulting.com and www.ipsos.com/

Representatives: Mr. Colin Kinghorn, COO Mr. Natee Ruengjirachuporn, Head of consulting, Thailand Background: Our goal since 1994 has been to help businesses worldwide, like yours, reach their goals using market based facts. Ipsos is the only global market research agency to offer an integrated business consulting division. With us having your back you will have unprecedented access to the unique combination of market research and business consulting all within the same firm.

Ipsos Business Consulting is a global strategy consulting firm, focused on helping your sales and marketing leaders as they Build, Compete and Grow in emerging markets. With over 20 years of experience and consulting hubs in 17 countries on five continents, Ipsos Business Consulting is the specialist global business unit of Ipsos that is focused on strategic consulting. We offer our clients the knowledge, insight and guidance they need to pursue their growth plans with confidence. Ipsos Business Consulting works with a wide variety of multinational, regional and local clients as they seek to build, compete and grow in both developed and emerging markets.

Jameson’s the Irish Pub 80/164 Moo 9, Soi Sukrudee (Soi A.R.), Pattaya City, Chonburi 20260 Tel: +66 (0) 38 361 873-4 Fax: +66 (0) 38 415 309 Email: www.jamesons-pattaya.com Website: info@jamesons-pattaya.com

Representatives: Mr. Kim Elvin Fletcher, The Landlord Ms. Pornthip Luanoi, Office Manager Background: Jameson’s The Irish Pub, Bar & Restaurant - Established 2004,

opened January 17th 2005 and still going strong.

If you are looking for a good night out in Pattaya, Thailand look no further than Jameson’s The Irish Pub, Bar & Restaurant. It is undeniably a great place to hang out for locals, expats and Thais. The visitor and holiday maker on their quest to find the cameraderie and friendship often missed in a new and foreign town and country, will find a warm welcome here.

Jameson’s the Irish Pub - Bar & Restaurant is the place to visit when you are looking for a great time, want to follow the latest sporting events or simply want to relax and read a book or the recent local newspaper. The many different pub sections provide for any entertainment preference; may this be the library with its comfortable Chesterfields to sink into and de-stress from a hectic day or the sports ‘arena’ with its Big Screen TVs and sturdy tables to pound on should your favorite team miss a shot.

Jentana & Associates Languages Consultant Co.,Ltd. 5/8 Sukhumvit Soi 31 Sukhumvit Road, Klongtoey-Neua Wattana, Bangkok 10110 Tel: +66 (0) 2260-6138-9 Fax: +66 (0) 2259-8580 Email: Jentana@loxinfo.co.th Website: www.thai-lessons.com Representatives: Ms. Jentana Ngamkhiaw, Managing Director Mr. Bruce Hemmingsen, Consultant Advisor Background: Speaking Thai with Confidence For over 20 years Jentana & Associates (J&A) has been successfully teaching foreign visitors and expatriates working in Thailand the art of speaking, reading and writing the Thai language. The students of Jentana & Associates benefit from a tried and true system of learning that combines: • A personal teacher assigned to every individual student or group; • Lessons at home or office at a time most suitable for the student; • An interactive Question and Answer approach to learning; • Private study books authored personally by Jentana Using the J&A Thai language method of learning, most students who take the course can feel confident speaking and understanding basic Thai language after only 20 lessons.

The J&A syllabus is comprised of 6 distinct sections that ensure students who apply themselves to their study, progress quickly and easily through the basics to a more advanced level of ability and understanding.

The study guides authored by Jentana provide a structured approach to each and every lesson so that students can pace out their learning with their own ability and time commitments.

LF Asia (Thailand) Limited 12th Floor, Maneeya Center Building Ploenchit Road, Lumpini Pathumwan, Bangkok 10330 Tel: +66 (0) 2257-3510 Fax: +66 (0) 2257-3511 Email: BruceHemmingsen@lfasia.com; NaraDecharin@lfasia.com Website: www.lfasia.com/en/, www.lifung.com

Representatives: Mr. Bruce Hemmingsen, Senior Vice President - Healthcare Dr. Nara Decharin, General Manager Background: LF Asia (Thailand) Limited (A member of Li & Fung Limited) has more than 40 years of experience and now ranks amongst the leading Asian Healthcare & Consumer distributors in Asia. We provide a comprehensive array services for our clients in Pharmaceuticals, Nutritional Health and Consumer products. Our indepth channel coverage includes Government and Private hospitals, Clinics, Drug Stores, Hypermarkets and the Modern and General Trade.

LF Asia has long standing and successful partnerships with multinational and local clients. Our services include regulatory, sales and marketing, logistics, customer service, merchandising, secondary repackaging and supply chain management. We also have vast experience in launching and reviving mature brands with proven successful outcomes.

The London School of English Thailand #1 Empire Tower, 6th Floor, Unit 601A, 601B (EM Space) South Sathorn Road, Yannawa Sathorn, Bangkok 10120 Tel: +66 (0) 2670-0888 Fax: +66 (0) 2670-0405 Email: info@londonschool.in.th Website: www.londonschool.in.th

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Representatives: Mr. Chalermchai Mahagitsiri, CEO Ms. Ausana Mahagitsiri, COO Background: The London School of English (LSE) is the oldest officially accredited private English language school in the world, and has been welcoming clients since 1912. Outside the United Kingdom, LSE has language centres in Tbilisi, Doha and Jeddah, with its latest centre established in Thailand in 2015. LSE Thailand Centre is operated by PM Learning Centre, a wholly-owned subsidiary of PM Group.

LSE Thailand offers a wide range of courses, including Business English, General English, Examination English and English for University, as well as a number of other specialised programmes, to suit almost every need. Whether for your work, study or just to feel more confident with the language, The London School of English Thailand can help you accomplish your goals faster and easier than you would think or expect.

We have excellent, qualified, native-speaker trainers and small class sizes, of course, but we know that a good language centre is about more than the course itself. We offer a personalised service and help you accurately assess your requirements, evaluate your capabilities and select the right course and duration so you can achieve your goals.

Market Support Co., Ltd. 29, Vanissa Building, 18th Floor Ploenchit Road, Lumpini Pathumwan, Bangkok 10330 Tel: +66 (0) 2655-1855 Fax: +66 (0) 2655-1856 Email: steven@marketsupport.co.th Website: www.marketsupport.co.th

Our mission is to provide the best consumer understanding and help clients to cleverly use consumer insights to build strong brands and innovate successfully.

A full service research agency, we have extensive experience and expertise in qualitative research, quantitative research, desk research, workshops and consulting.

We cover a wide array of market sectors including retail, HORECA, automotive, telecommunications, consumer banking, insurance, healthcare, travel & tourism, agriculture and services with a focus on consumer packaged goods. Our practices conform to the standards of ESOMAR (European Society Of Market Research).

Mentis Consulting Limited Level 17, Dashwood House, 69 Old Broad Street, London EC2M 1QS Tel: +44 (0) 207 256 4068 Fax: +44 (0) 207 256 4071 Email: contact@mentis.international Website: www.mentis.international/index. html

Representative: Mr. Richard Brady, Chief Executive Officer Background: Mentis specializes in worldclass personality assessment, training, values/ culture change, coaching and management development programs offering targeted solutions to meet your needs. Our services cover all organisational levels, from designing and delivering graduate development to coaching and advising at CEO and Board level. It’s all about predicting performance and identifying potential. Mentis values long-term client relationships. We believe that with an in-depth understanding of your requirements we can provide meaningful results.

Our services are available throughout the UK, Europe and the Middle East and AEC regions.

Representative: Mr. Komkrich Jutakanon, Chief Executive Officer Background: Nanfah is a full service travel company offering luxury corporate and leisure travel services and advisory, striving for client satisfaction by providing the highest level of service delivering efficient detailed oriented travel planning while generating noticeable savings. We believe that the key of success lies in nurturing vendor, employee, partner, and client relationships and establishing a positive work environment conveying happiness for our team and clients all throughout. Our goal is to brand ourselves as providers of sustainable future for all stakeholders while becoming a one stop shop for every travel service available in the Maldives.

Paypoint Plc 1 The Boulevard, Shire Park Welwyn Garden City Hertfordshire AL7 1EL United Kingdom Tel: +44 1707 600 277 Website: www.paypoint.com Representative: Mr. Andrew Walden, International Development Manager Power System Services Limited Carrwood Road, Sheepbridge Chesterfield S41 9QB United Kingdom Tel: +44 (0) 12 4626 8800 Fax: +44 (0) 12 4626 8811 Website: www.pss-uk.com Representative: Mr. Paul Beauchamp, Managing Director Background: Complete Package for the supply of Regenerative Airheater and GasGas Heater spares and overhaul works.

Representatives: Mr. Steven Britton, Deputy Managing Director Ms. Saismorn Punkrasin, Managing Director Background: Founded in 1995, Market Support is a well-established local Thailand based independent market research firm that provides local understanding and expertise at an international standard.

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Nanfah Air Service Co., Ltd. 60/1, Monririn Building 3rd Floor, Suit B301, Soi Phaholyothin 8, Phaholyothin Road, Samsennai, Phayathai, Bangkok 10400 Fax: +66 (0) 2616-6200 Email: info@nanfahair.com Website: www.maldivianholiodays-asia.com

Proseal UK Ltd. Adlington Industrial Estate, Adlington Cheshire SK10 4NL, United Kingdom Tel: +44 (0) 1625 856 600 Website: www.prosealuk.com Representatives: Mr. Stephen Malone, Director Mr. Tony Burgess, Head of Sales & Control Systems

Rightmove Pattaya 369/1, Moo 9, Units 8 & 9 Pattaya Second Road, Nongprue, Banglamung, Chonburi 20260 Tel: +66 (0) 38 361 212 Fax: +66 (0) 38 361 212 Email: info@rightmovepattaya.com Website:www.rightmovepattaya.com

Representative: Mr. Craig Turner - Managing Director Background: Managing Director, Craig Turner is a British national who has a wealth of knowledge and experience dealing in the Pattaya real estate market.

At Rightmove Pattaya, we specialise in providing professional and impartial advice regarding all aspects of the process of purchasing and renting property in Pattaya, Jomtien and the surrounding areas.

We market new developments, re-sale properties, rentals and also land. Our team strikes a perfect balance of local knowledge and in depth real estate experience.

Our well trained staff are committed to achieving the best possible results, which is as a result of their in depth training in customer services. What Services are provided by Rightmove Pattaya?

We offer our clients the following services: • Residential properties for sale • Residential properties for rent • Land for sale • Renovation and decoration • Corporate re-locations • Investor services • Legal services • Financial services

Roomorama INC 115 Amoy ST. # 03-00 Singapore 069935 Tel: +65 9457 6031 Email: jiaen@roomorama.com Website: www.roomorama.com

can select a villa or serviced apartment yourself, or give us the details and we can search and select some properties for you to select from, based on your criteria.

Sasin Graduate Institute Of Business Administration of Chulalongkorn University 254 Sasa Patasala Building Chula Soi 12, Phayathai Road Pathumwan, Bangkok 10330 Tel: +66 (0) 2216-8833 Fax: +66 (0) 2215-3797 Email: marketing@sasin.edu Website: www.sasin.edu

Representatives: Mr. Gong Rungswang, Deputy Director for Alumni and Corporate Relations Mr. Dean Outerson, Head of Marketing and Corporate Communications Background: Sasin was established in 1982 in a collaboration among Thailand’s leading university (Chulalongkorn University) and two of the world’s foremost business schools: the Kellogg School of Management at Northwestern University and The Wharton School of the University of Pennsylvania. Sasin pioneered using world-class visiting professors, complemented by full-time faculty and other local experts. Sasin launched the first graduate management programs taught completely in English in Thailand.

Sasin is also the first business school in Thailand to have earned AACSB (Association to Advance Collegiate Schools of Business) and EQUIS (European Quality Improvement System) institutional accreditation, and Sasin is still one of the few business schools in Asia with both accreditations.

School Portraits (Thailand) Co., Ltd. 55/1 Bandon - Cherngtalay Road Cherngtalay, Thalang, Phuket 83110 Tel: +66 (0) 76 615 865 Fax: +66 (0) 76 615 864 Email: info@schoolportraits.co.th Website: www.schoolportraits.co.th

Representative: Ms Jia En Teo, CEO Background: We are an online travel agent specializing in villas and serviced apartments, with 300,000 properties worldwide.All properties are professionally managed and of a high standard. You

Representative: Mr. Stephan Bulawa, Founder & Managing Director

Background: Since 1999 the founder Stephan Bulawa offer under the trademark “Energy-Imaging” School Photography and Yearbook services in Germany. High quality standards helps to sell more than 1 1/2 million yearbooks. In 2013 Stephan Bulawa founded “School Portraits” in Phuket to offer International and Thai Schools School Photography and helping schools offering a high quality and cheap Yearbook. Under the trademark “ID-Card-Printing-Service” we design and print Employee-ID-Cards, Membership & Loyalty Cards.

Siam S & Grace Co., Ltd. 1108/31, Sukhumvit Road, Phrakanong Sub-district, Klongtoey District Bangkok 10110 Tel: +66 (0) 61 380 0798 Email: siam@serenegrace.org

Representative: Ms. Masami Tsuchiya - Managing Director Background: Siam S & Grace Co., Ltd. offers business consulting and training programs for organizational and individual development. We are partnering world class solution providers and make opportunities be available in Thailand.

Singha Estate Public Company Limited 968 U Chu Liang Building, 20th Floor, Rama IV Rd, Silom Bangrak, Bangkok 10500 Tel: +66 (0) 2632-4533 Fax: +66 (0) 2632 4534-5 Email: info@singhaestate.co.th Website: www.singhaestate.co.th Solvay Peroxythai Limited

Representatives: Mr. Paul Elliott, VP Hotel & Convention Business Mr. Methee Vinichbutr, Chief Financial Officer Background: For the past 19 years, the Company has focused on the property for sale. It was not until September this year that the Company underwent the business integration by entire business transfer whereby businesses under the The Link

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Singha Property Management Group and Santiburi Co., Ltd. were entirely transferred to Singha Estate Plc. This move, along with business expansion through the acquisitions of assets, has extended projects under the Company’s businesses from residential properties to investment properties and the hotel business.

Solvay Peroxythai Limited 16th Floor, 55 Wave Place, Wireless Road Lumpini, Pathumwan, Bangkok 10330 Tel: +66 (0) 2610-6470 Fax: +66 (0) 2610-6469 Website: www.solvay.com Representatives: Mr. Andrew Cumming - General Manager Asia- Pacific, Peroxides GBU Mr. Anupong Rongluengaram - Managing Director-Solvay Peroxythai

Sussex Coast College Hastings Station Approach, Hastings East Sussex TN34 1BA Tel: +44 (0)1424 458565 Fax: +44 (0) 1424 716419 Email: joughton@sussexcoast.ac.uk Website: www.sussexcoast.ac.uk Representative: Mr. Jeremy Oughton, Head of International Business Development Background: Sussex Coast College Hastings is an inspiring place to learn and has recently been inspected by OfSTED and graded as Good with Outstanding features. The college is housed in a fabulous new building in the historic seaside town of Hastings, in the South East of England.

Located in one of the most stunning and beautiful areas of East Sussex, the college is only 90 minutes train ride from London, on the shores of the English Channel with Europe on its doorstep, which makes Sussex Coast College Hastings an ideal location for international students to study the wide range of courses we have to offer, and at the same time enjoying the welcoming hospitality of the historic town of Hastings.

Hastings is located only hours away from Brighton and within easy reach of Ashford international station and access to Pairs in only 2 hours; Sussex Coast College Hastings provides incredible value for money in terms of study and accommodation in a truly cosmopolitan town, located on the English Channel. Our English language programmes run all year round and we offer the following programmes.

• General English 15 and 21 Hours • IELTS preparation

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• Cambridge certificated examinations • Trinity certificated examinations Sussex Coast College Hastings also offers the following wide range of programmes and academic courses and welcome international to apply to join these courses.

• International Foundation Year (IFY) • Higher National Diploma (HND/C) in Engineering, Computing, Information Technology, Construction and Business/Management • A wide range of A level programmes • Top Up and Foundation Degree programmes

The Village Management Co., Ltd. The Village Coconut Island Beach Resort 51/7, Moo 6, T. Kohkaew, Muang Phuket 83200 Tel: +66 (0) 76 352 144 Fax: +66 (0) 76 352 145 Email: info@thevillage-cocnutisland.com Website: www.thevillagecoconutisland.com

Representatives: Mr. Chris Gordon, Managing Director Mr. Thomas Gordon, Commercial Director Background: The Village Management Co. Ltd operates The Village Coconut Island, a luxury 5 star resort and residence located on KohMaprao, just off of Phuket’s East Coast.

The project began 9 years ago and the resort has grown and developed into one of the largest and most unique properties in Phuket.

Wharfe Beer Company Limited Unit 4 Pool Business Park Pool Road, Pool in Wharfedale W.Yorkshire LS21 1FD, United Kingdom Tel: +44 (0) 113 284 2392 Fax: +44 (0) 113 284 2176 Email: beer@wharfebankbrewery.co.uk Website: www.wharfebankbrewery.co.uk Representatives: Mr. Martin Kellaway, Founder and Managing Director Mr. Simon Briggs, Director

Zaiwalla & Co-Solicitors Chancery House, 53-64 Chancery Lane, London WC2A 1QS Tel: +44 (0) 20 7312 1000 Fax: +44 (0) 20 7404 9473 Email: info@zaiwalla.co.uk Website: www.zaiwalla.co.uk

Representatives: Ms. Pavani Reddy - Managing Partner Mr. Sarosh Zaiwalla - Senior Partner Background: Zaiwalla & Co is a London based law firm. The firm has been established in the City of London for nearly 33 years and continues to hold its niche market position of handling top quality international work whilst ensuring clients continue to receive quality work at reasonable cost. The firm is a specialist Arbitration firm and since the firm’s inception in 1982, the team has been involved in over 1200 international arbitrations.

The firm has dealt with many ICC, LCIA and Gafta (Grain and Feed Trade Arbitrations) international arbitrations involving parties from Thailand, Far East and Asia.

We take care to offer pricing in line with international expectations. As an established fact of global business life, businesses are getting wise to what they do and do not need to maximise their chances of winning. We provide “the same service at half the cost”. Fair and realistic pricing are not only fair to the client but prudent for the London market.

The firm also has a proven track record of success for international clients, notably in turning around difficult cases through an innovative perspective. Our approach to cases is a willingness to think “outside the box”. Traditional law firms can sometimes be blinkered in automatically trying to apply conventional thinking to new and unconventional circumstances.

The firm benefits from the expertise of a strong team, including specialists in the laws of Russia, China, India and Iran. Many of our English qualified solicitors originally hail from regions as diverse as Ukraine, India, Canada and Iran. We also have various foreign qualified lawyers within our team. Our offices are located in Chancery Lane in the heart of the legal district in the City of London and close to the Royal Courts of Justice.

Mr. Graham Storey 9A, Newton Tower, 13 Sukhumvit Soi 6, Bangkok 10110 M: +66 (0) 85 656 8283 Email: graham1212@hotmail.com

Background: Consultant in Corporate Finance & Investments

Resignations & Cancellations • • • • • •

Mr. John Chown 51 Lafone Street, London SE1 2LX United Kingdom Tel: +44 (0) 20 7403 0787 Fax: +44 (0) 20 7403 6693 Email: jchown@chowndewhurst.com Website: www.johnchown.co.uk Background: John Chown was educated at Gordonstoun and Selwyn College, Cambridge (First class honours economics, Adam Smith Prize and Wrenbury Scholarship) and is an Honorary Fellow of the College. He founded JF Chown & Company, (now Chown Dewhurst LLP) in 1962, as international tax advisers. Most of his career has been spent on professional tax work but he has always been actively involved in public policy issues in the UK, the EC and elsewhere.

In 1969, he and three friends founded the Institute for Fiscal Studies and he remains a member of the Executive Committee. He now devotes much of his professional time to international policy advice on taxation, regulation and the development of financial markets, including several projects in Russia and a 4 visit World Bank project in Thailand in 2000 on the taxation of financial derivatives. He now works closely with Jackie Newbury: her background is in investment banking. They began work on a capital market project in Thailand in 2008-9 but this was never finalised because of the political situation. They have been together on missions to China Kazakhstan Azerbaijan and Mongolia.

He is an active member of International Financial Services London, serving on the CIS, CEE and Pensions Committees and participates actively in his specialist capacity in inward visits and outward missions led by the Lord Mayor of London.

The firm, Chown Dewhurst LLP, brings together lawyers, economists and accountants to crack international tax problems.

They are members of, and act as secretariat to, the International Tax Specialist Group.

Mr. Nick Thompson Level 23, Athenee Tower, 63 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 T: +66 (0) 87 084 8635 Email: nickthompson7@yahoo.co.uk

• • • • • • • • • • • • • • • • • • • • • • • • • • •

AD Asia Consulting Co., Ltd. American School of Bangkok, The Avista Hotels and Resorts Biorenewables Development Centre, The Bridgewater Worldwide Ltd. Campbell Chambers Thai Company Limited Ceva Logistics (Thailand) Ltd. Chaucer Foods UK Ltd. CoGri Asia Pacific Pte Ltd. Crown Agents Destination Spa Management Ecotrade Group Hergest Designs Ltd. Hollywood Movies Co., Ltd. Imonit Trading Ltd. Indian Host (Fine Indian Dining) King Academy Co., Ltd. King’s College London, University of London Lifestyle Automotive Limited Membracon (UK) Ltd. Narai Hotel Group Nielsen Company ( Thailand) Limited, The Organix Brands Limited Pandectum PTY Ltd. Professional Portfolio International Ltd. SALA Resorts & Spas Secure Wealth Management SmartCityPeople (Thailand) Recruitment Co., Ltd. Sulieman Neal Sullivan Group PCL TAP Trading Co., Ltd. Technical & General Guarantee Company S.A. Witch’s Group Yamira Company Limited

Change of company representatives • Air France KLM, changed from Mr. Hervé Moulin, to Mr. Luc Delaplace • Bangchak Petroleum Public Company Limited, The, changed from Mr. Kanet Visaruthaphong , to Mr. Chaiwat Kovavisarach • Berkeley International School, changed from Mr. Micheal Godhe, to Ms. Lisa Johnson • Cunningham Lindsey (Thailand) Ltd., changed from Mr. Gareth Davis Sampson, to Mr. Jakkrit Khaosaard • Finnair Oyj, changed from Khun Chantarat Vorapanya, to Khun Pinlawat Sriprachan • FIRCROFT, changed from Mr. Damien A Lee,to Mr. Ary Pratama • Grayling (Thailand) Co.,Ltd., changed from Mr. Justin Barnett, to Mr. Stephen Meng Yee • Hilton Sukhumvit Bangkok, changed from Mr. David Ecija, to Mr. Ian Barrow • ISS Security Services Co., Ltd. , changed from Mr. Glenn Liddell, to Mr. Abhijit Datta

• Kluber Lubrication (Thailand) Co., Ltd., changed from Mr. Stefan Kohl, to Mr. Patrick Kemper • Millennium Hilton Bangkok (Krungthep Rimnam Ltd), changed from Mr. Dirk De Cuyper, to Ms. Heidi Kleine Moeller • Reckitt Benckiser (Thailand) Ltd., changed from Mr. Reazul Chowdhury, to Mr. Narasimhan Eswar • Savills (Thailand) Limited, changed from Mr. Mark Price , to Mr. Robert Collins • Shangri-La Hotel, Bangkok, changed from Mr. J. Edward Brea, to Mr. Phillip Couvaras • Siam City Law Offices Limited), changed from Mr. Picharn Sukparangsee, to Mr. Chavalit Uttasart • Venda Software Development Ltd., changed from Mr.John Wagner, to Ms. Jarichart Wankaew Change of company name • Aon Risk Services (Thailand) Ltd., changed to Aon (Thailand) Limited • Global Investments (Far East) Ltd., changed to Global Consultants Limited • ISS Security Services Co., Ltd., changed to ISS Facility Services Co., Ltd. • Regent Phuket Cape Panwa, changed to Amatara Resort & Wellness • Retail Outsourcing (Asia) Limited, changed to Retail Asia Ltd. • Salamander Energy (E&P) Ltd., changed to Ophir Thailand (E&P) Limited Change of address • Brighton College International School, Bangkok Soi Krungthep Kreetha 15/1, Krungthep Kreetha Road, Huamark Bangkapi, Bangkok 10240 • Comcon Services (Thailand) Co., Ltd. 370/10 Supattra Building, 5th floor, Rama9 Road, Bangkapi Bangkok 10310 Tel: +66 (0) 2719 7761 Fax: +66 (0) 2719 7762 • Reckitt Benckiser (Thailand) Limited No. 89 AIA Capital Center, Room 2504 – 2507, 25th Floor, Ratchadaphisek Rd., Dindaeng SubDistrict, Dindaeng District, Bangkok 10400 • Unilever Thai Trading Limited Unilever House 161 Rama 9 Road, Huai Khwang, Huai Khwang, Bangkok 10310

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FINAL WORD

Council ban baffles Betty

By Dale Lawrence

S

pare a thought for 74 year-old Betty Dickson. Betty is one of those wonderful lollipop ladies that shepherd children safely across busy streets and roads as they walk to and from schools throughout the United Kingdom.

This petty meddling has angered parents. Janice Hamilton, 44, told local media that Betty was ‘the happiest woman in the world – but she’s not happy now’. “It’s disgusting. You could get a nicer person.

The kids and parents love her”, she added.

But this cheerful pensioner, so popular with the children and parents at nursery and primary schools in Glasgow’s Cranhill district, has been banned from waving at the children.

Mums and dads at the local schools in Cranhill have now nominated Betty for an award in a bid to show solidarity.

In yet another example of potty local government bureaucracy, council bosses have warned Betty that her friendly greetings are a ‘breach of health and safety regulations’. Betty was told that waving at children breaks her concentration and puts children at risk. Council jobsworths have even sent a supervisor to check that Betty is following orders.

Betty is employed by Cordia, a company run by Glasgow City Council.

A spokesman was quoted as stating that ‘a member of the public expressed concern about the behaviour of one of our school crossing patrollers. We had a chat with the patroller involved, provided further training and we’re satisfied the issue is now resolved’.

On the wrong track

H

eading home for Christmas?

It’s time to contact your favourite car rental agency because travelling by train in parts of Great Britain is set to be a nightmare once again.

With four major rail networks spending more than £120 million pounds on essential maintenance during the festive season, passengers departing major termini in London face more travel chaos. London Paddington, for example, which serves Wales and the West Country, is closed from 24 to 28 December to enable works to be carried out on the Crossrail scheme.

Last Christmas the overrun on engineering works, coupled with delays, disruptions and diversions, caused misery for tens of thousands of com-

muters and for families visiting friends and relatives.

Network Rail admits that this year’s programme of engineering works is on a similar scale – but claims that there will be ‘less disruption’.

The unconvincing claim does not extend to lines serving London’s two principal airports, Heathrow and Gatwick. There are no over ground rail services serving LHR on 27 and 28 December whilst passengers travelling to and from LGW are likely to experience frustrating delays for more than a week.

The views and opinions expressed on this page by Editor Dale Lawrence are entirely personal and do not reflect official BCCT policy.

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ALGERIA, BAHRAIN, BRUNEI DARUSSALAM, COLOMBIA, CÔTE D’IVOIRE, DJIBOUTI, EGYPT, GABON, GHANA, INDONESIA, JORDAN, KENYA, KUWAIT, MALAYSIA, MEXICO, MONGOLIA, MOROCCO, MYANMAR, NIGERIA, OMAN, PAPUA NEW GUINEA, PANAMA, PERU, QATAR, SAUDI ARABIA, SOUTH AFRICA, SRI LANKA, THAILAND, THE PHILIPPINES, TRINIDAD & TOBAGO, TUNISIA, TURKEY, UAE: ABU DHABI, UAE: DUBAI, UAE: RAS AL KHAIMAH

All the angles covered When you enter unfamiliar territory, you want to get straight to the heart of your market.

Oxford Business Group reports shed light on what’s really happening on the ground. Our reports balance on-the-spot analysis with contributions from local and international experts.

Whether you’re entering a new market or already entrenched, OBG country reports are your indispensable guide.

“Vital information for anyone considering working in the country” Financial Times

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