BCCT Link Magazine - Issue 4 2017

Magazine of the British Chamber of Commerce Thailand Issue 4 2017

Tourism & Hospitality in Thailand

TAT launches 2018 tourism campaign Thailand By the Numbers Crypto currencies News from BCCT members Events round-up

Page 1 Standard Chartered Bank Use the same artwork as Handbook 2018

Contents This Edition

BCCT

Board of Directors 2017 CHAIRMAN Simon Matthews ManpowerGroup Thailand T: 02 2634 7273 matthews@manpower.th.com VICE CHAIRMEN Simon Landy Colliers International Thailand T: 02 656 7000 slandybkk@gmail.com Christopher Thatcher Anglo-Thai Legal Co., Ltd. T: 081 803 7377 christhatcher1@gmail.com David Cumming ONYX Hospitality Group (Amari Watergate Bangkok) T: 02 653 9000 david.cumming@amari.com

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Thailand promises another amazing year for tourism

DIRECTORS Ali Adam Arcadia (Thailand) Co., Ltd. T: 02 108 1822 ali@arcadia-engineering.com Mark Bowling Pattaya Realty Co.,Ltd. T: 038 412 301 mark@pattayarealty.com Billy Chomsakorn British Airways PLC T: 001 80044 15906 billy.chomsakorn@ba.com Viriya (Boyd) Chongphaisal GlaxoSmithKline (Thailand) Limited T: 02 659 3000 viriya.x.chongphaisal@gsk.com

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Thailand’s tourism on parade

Big splash in Pattaya

John Christie Ek-Chai Distribution System Co., Ltd. T: 02 797 9000 john.christie@th.tesco.com Stephen Frost Bangkok International Associates Ltd T: 02 231 6201/6455 sfrost@bia.co.th Kate Manning Adelphi Digital Consulting Group T: 02 662 1499 kate.manning@adelphidigital.co.th Carl Sellick Lucy Electric (Thailand) Limited T: 033 684 333 carl.sellick@lucyelectric.com Kelvin Tan HSBC T: 02 614 4000 kelvin.tan@hsbc.co.th Summer Xia British Council T: 02 657 5678 summer.xia@britishcouncil.or.th HONORARY TREASURER John Sim PKF Tax and Consulting Services (Thailand) Ltd. T: 02 108 1591-96 john.sim@pkf.com

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IHG tourism chief gives upbeat forecast for Thailand’s tourism Coining it

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Former UK Prime Minister talks to BCCT members

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Thailand leasehold terms revisited

Why teachers are our most precious resource Has acquiring a second passport become a new commodity?

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Banyan Tree leads by example in sustainable development

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BUPA launches influenza vaccine campaign

Page 3 Trafalgar As in Handbook 2018 ??

Contents Issue 4/2017 The Link is published by the British Chamber of Commerce Thailand.

Every Edition

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Chairman’s Message

Vice Chairman’s Message

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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.

Member news: Amatara launches brain health programme in Phuket

Member news: New Game for TV star Nikolaj at NIST

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By the Numbers

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Chamber Events 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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Comings & Goings

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Final Word

Member news: Technology redefines workplace and workforce in Asia Pacific region

Member news: Royal Cliff sets record with latest Hall of Fame award

Chairman’s Message

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his is the last issue of The Link for this year and as we move towards the end of 2017 I trust that you have enjoyed a successful year - a period of time that created some economic challenges.

SIMON MATTHEWS Sterling Partner

Sustaining Partners

I attended the recent Britain in South East Asia (BiSEA) Conference in Singapore with BCCT Executive Director Greg Watkins. The DIT confirmed that our OBN grant would be extended for another 12 months effective March 2018. However, it is likely that there will be a 10 percent reduction from the current grant. The OBN steering group is working on mitigating this reduction.

We also discussed how the British Chambers of Commerce in South East Asia may work more closely together and add value to our members.

I also attended a brainstorming session on the Thai-UK Business Leadership Council (TUBLC) chaired by John Christie with representatives of UK companies in Thailand – including current non-participants in the Council’s affairs. The objective was to brief companies on TUBLC and to receive feedback on current issues and address any matters not already covered. As always, if you are facing issues in doing business in Thailand please let us know and we will do our best to assist your organisation.

I also attended the dinner when presentations for the three TUBLC working groups were made. There was also a presentation about UK visa applications.

It was confirmed that the Visa section at the British Embassy is closing and that visas will be processed in the UK. We are following up on this matter to assess the impact.

We have staged many very successful events over the past few months and the feedback we have received is very positive. The success of these events reflects the great work undertaken by Chris Thatcher, Chairman of the Events Committee, and Khun Rungjit (RJ), BCCT Events Manager. Mention of recent events prompts me to remind you all not to miss the always-popular BCCT Christmas lunch. This year’s festive celebrations take place on Thursday 14 December at the Amari Watergate hotel in Bangkok.

Our first major event in 2018 is the BCCT AGM and luncheon on 25 January. it is very important for you to be represented at the AGM as we will be reporting upon the activities and the financial status of the Chamber for 2017 as well as electing a new Board.

Finally I wish to express our very sincere appreciation to the BCCT Annual Partners for 2017.

Sterling Partner – Bangkok Patana School Sustaining Partners – GlaxoSmithKline, KIS International School, Tesco Lotus, HSBC, Standard Chartered Bank, Property Care Services, Brighton College International School and Rugby School.

Airline Partners – Finnair, British Airways and EVA Air. Supporting Partners – Central Food Retail, Trafalgar International, Amari Watergate, Boots Retail, ManpowerGroup, WHA, Prudential Life Assurance, St. Stephen’s International School, Shrewsbury International School, PKF, Mazars, OPHIR and Harrow School.

I close by wishing you all a very happy New Year and I look forward to meeting you at many BCCT events in 2018.

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Vice Chairman’s message

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nce upon a time, 71 years ago, a group of people formed a new organisation in post-WWII Thailand. From this nascent organisation, the British Chamber of Commerce in Thailand grew to be the organisation that you all know so well. Contrary to what many believe, Simon Matthews was not the chairmen then, and even Greg was just a small glint in his father’s eye (and more of a blind spot to his mother).

CHRISTOPHER THATCHER Supporting Partners

The BCCT is first and foremost a membership organisation. Its income is derived from the fees that members pay, the money that is paid to attend events and the sponsorship provided to the chamber by some members. If we get it right and give the members what they want, the BCCT thrives.

If we don’t, members leave, don’t attend events or provide sponsorship. But at the simplest level the BCCT cannot survive without members’ engagement in some way or another.

Sometimes I wonder just how many members do attend events and if they don’t, why they don’t. I could make a somewhat educated guess but I’d probably only skim the surface or even get it entirely wrong. But we do try. We have a small group of members and staff who meet from time to time to discuss all aspects of the events that we run. We assess (from the limited number of survey responses) what worked, what didn’t and how we can improve. We look at the financial performance and try as best we can to plan future events. Currently we are looking at 2018. We are always happy to invite other members who are interested to attend these meetings and provide their input so if you feel you have something to offer and a little time to give, please get in touch.

But the BCCT is a lot more than its events. Greg, through his many years (21 and counting) is always willing to meet members to discuss how the chamber can help their businesses improve or make better use of the facilities we can offer. He is a tremendous resource to members but not so many use the opportunity. It takes one phone call.

Jina Phenix and her membership team are engaged with growing our membership and, even more importantly, retaining the members we already have. Every year some members leave the chamber. There are multiple reasons for that but Jina and her team will do everything that they can, to persuade potential leavers to give us another chance to show what we can do. It is a two-way street however.

You can’t help those who will not help themselves but getting engaged is not always so easy. One way is to stand for election to the board (that process closes in early January so you still have time). This year 9 people will be elected – 7 for a two year term and 2 for a one year term. Another is to vote for those you want to represent you. Voting closes at the AGM on the 25th January.

Airline Partners

In the end, BCCT is your chamber. It can offer you so much. You elect the Board of Directors who appoint a chairperson. The chairperson appoints the Officers.

The Board and the Officers appoint the Executive Director when one is needed and that person runs the chamber on a day to day basis reporting monthly to the Board. It’s a simple and effective process but, like all things, not perfect.

So to sum up, the chamber runs for you, is paid for by you and is ultimately responsible to you. If you choose not to get involved that’s your prerogative. But if you do, then the Chamber can offer you a lot in return. If it does something you don’t like, say so. But just as importantly, if it does something you like, please tell us. Nothing motivates the staff more than knowing that they are appreciated by the people who pay their wages – the members.

Have a great Christmas and a wonderful new year.

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COVER STORY

Thailand’s Minister of Tourism and Sports Mrs. Kobkarn Wattanavrangkul

Thailand promises

another amazing year for tourism 10

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COVER STORY

Tourism leaders launch the latest Amazing Thailand campaign.

Thailand’s Minister of Tourism and Sports Mrs. Kobkarn Wattanavrangkul has unveiled the nation’s tourism promotional programme.

product to domestic and international tourists – boosting the average length of stay, expenditure and repeat visitation.

She outlined ‘Amazing Thailand Tourism Year 2018’ at the World Travel Market 2017 (WTM) in London in early November.

The ‘Amazing Thailand Tourism Year 2018’ highlights activities based on 13 core niche products namely, sports, gastronomy, maritime tourism, weddings and honeymoons, medical and wellness, community-based tourism, leisure, green tourism, night tourism, MICE, trade fairs, B2B marketing activity and logistics.

The 100 delegates attending the WTM 2017 Thailand networking lunch included travel agents, media and senior executives from the Tourism Authority of Thailand.

The ‘Amazing Thailand Tourism Year 2018’ has been designed to further strengthen the Thai tourism industry by making it more sustainable, with focus upon quality tourism and the country’s sufficiency economy philosophy. It is also intended to maintain a balance between the economy, society and the environment. The campaign will support the national tourism development plan with a busy calendar of international events.

The communications themes for the 2018 campaign are being categorised as ‘4S’: Saneh (charm); Sanook ( joy);

According to Minister Kobkarn, ‘Amazing Thailand Tourism Year 2018’ will help Thailand’s travel and tourism industry move into a new era of development and ‘further underscore its new status as a nationwide movement that yields significant benefits for national security, the economy, society, well-being and foreign relations’.

The overarching objective is to ensure that Thailand remains a ‘preferred destination’ and delivers a quality

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COVER STORY

Sabai (relaxing), and Sut Saep (delicious food). The last theme embraces all types of dining in Thailand, from street food to fine dining restaurants.

The campaign will be welcomed by hoteliers that have been pushing for a national tourism policy based on quality, rather than quantity.

Ian Barrow, General Manager at the Hilton Sukhumvit and DoubleTree by Hilton hotels in central Bangkok, said, “It is vitally important that we target higher spending tourists as their increased spending power benefits local communities throughout the country”.

Klaus Sennik, one of Thailand’s most successful hoteliers, spent six years as General Manager of the Ramada Plaza Bangkok Menam Riverside hotel.

“European guests in particular enjoy the amazing breadth of accommodation in Bangkok and across Thailand. Connectivity from European cities to airports in Thailand has never been easier. They look for easy access to shopping malls, street markets and tourist attractions as well as sandy beaches and opportunities to explore some of the country’s many natural and historical sites in the provinces.

“China, of course, remains the major source market for international visitors, and Thailand’s hospitality sector is having to adapt accordingly,” added Klaus Sennik.

“Thailand continues to appeal to seasoned travellers from many continents. Tourists from Australia and New Zealand, for example, are also making use of excellent connectivity to visit Thailand in large numbers. I expect that 2018 will be another amazing year for Thailand’s tourism.”

Tourism Minister Kobkarn Wattanavrangkul addresses delegates attending the World Travel Mart in London.

audiences. The Amazing Thailand Tourism Year 2018 is a unique opportunity for TAT to highlight these along with traditional favourites to reach a larger international audience.”

As Thailand’s tourism players prepare for yet another busy year, with annual international arrivals edging closer to the 40 million mark, the Pacific Asia Travel Association is reporting that the Asia Pacific region received a record number of visitors in 2016. Almost 600 million international visitor arrivals were recorded by 47 destinations across the Asia Pacific region.

Key events in 2018 to be promoted by the TAT include:

The PATA Annual Tourism Monitor 2017 Final Edition reports in detail on the inbound visitor movements to these 47 destinations for the period 2012 to 2016 as well as covering other pertinent metrics including (where available), resident departures, visitor average length of stay and visitor expenditure.

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Annual growth rates varied widely across Asia Pacific destination regions between 2015 and 2016, ranging from a high of 7.4 percent for the Pacific to 3.8 percent for the Americas and 2.3 percent for Asia. This averages out at 2.9 percent for Asia Pacific as a whole.

A number of international events and competitions are coming up in Thailand in the months ahead. For example:

ASEAN Tourism Forum, Chiang Mai SportAccord Convention 2018, Bangkok UN World Tourism Organisation Conference on Gastronomy MotoGP World Championship, Buri Ram

Minister Kobkarn and TAT Governor Yuthasak Supasorn have been highlighting awards received and recognition gained by Thailand’s tourism industry.

MasterCard recently announced Bangkok as the number one destination in its Mastercard Global Destination Cities Index 2017. The UN has ranked Thailand the ‘second happiest’ country in ASEAN and the ‘third happiest’ in Asia.

TAT Governor Yuthasak Supasorn said, “Thailand is naturally blessed with a busy schedule of annual cultural events that appeal to both domestic and international 12

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From a volume perspective the strongest destination region in 2016 was Asia with a 72 percent relative share of foreign arrivals into Asia Pacific, followed by the Americas (24%) and the Pacific (4%).

This ranking sequence held true for the incremental increases in absolute arrival numbers between 2015 and 2016 with Asia showing the strongest increase of almost 10 million foreign arrivals, followed by the Americas with an annual increase of almost 5.4 million and the Pacific with an incremental annual increase of almost 1.7 million in absolute numbers.

Thailand’s tourism on parade T

he Tourism Authority of Thailand has launched the ‘Amazing Thailand Tourism Year 2018’ campaign with a spectacular procession through the heart of Bangkok. The opening ceremony, held at Siam Discovery, was presided over by Thailand Deputy Prime Minister General Tanasak Patimapragorn. The campaign’s primary focus is upon sustainable, quality tourism in line with the country’s ‘sufficiency economy philosophy’.

Goddess, a symbol signifying harmony and happiness.

Another parade presented a taste of Thailand’s wide variety of distinctive cuisine whilst two more parades showcased festivals and major sporting events taking place in the Kingdom in 2018. The ‘Amazing Thailand Tourism Year 2018’ aims to boost Thailand’s reputation as a preferred destination whilst also increasing visitors’ average length of stay, expenditure and repeat visitation.

Minister of Tourism and Sports Mrs. Kobkarn Wattanavrangkul was also at the opening ceremony. She said that the ‘Amazing Thailand Tourism Year 2018’ campaign was at the heart of the government’s drive to foster the success of the tourism industry as a key economic driver. “Our outstanding programme of major events throughout the year will once again put Thailand in the spotlight as a preferred destination for international travellers,” she added.

The campaign places the spotlight on activities in 13 categories: sports, gastronomy, maritime tourism, weddings and honeymoons, medical and wellness, communitybased tourism, leisure, green tourism, night tourism, MICE, trade fairs, B2B marketing activities and logistics.

Each of these categories has a packed schedule of local and international events.

Six parades followed the route from the National Stadium to Lumphini Park. Each parade represented treasured aspects of Thai tourism with the first showcasing the Lotus

TAT Governor Yuthasak Supasorn said that ‘Thailand is a very hospitable country and has welcomed international visitors with open arms throughout its history’.

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Amari Watergate Bangkok Waiting for artwork....

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Big splash in Pattaya T

he Ramayana Water Park in Pattaya is the top trending attraction in south east Asia, according to the latest TripAdvisor Attractions Trend Index.

Also included in the top 10 list are the Chatuchak weekend Market (9th) and Jim Thompson’s House (10th).

The Attractions Trend Index seeks to identify the top attractions around Southeast Asia that have seen the most increase in search interest among the region’s travellers.

The rankings were determined by the percent increase in search sessions on TripAdvisor desktop and mobile by users in the region during the period of 1 September-7 October in 2016 and 2017.

A 74 percent year-on-year increase for the Ramayana Water Park earned it the number one ranking. Chatuchak and Jim Thompson’s House posted year-on-year increases of 35 percent and 34 percent respectively. Yuthasak Supasorn, Tourism Authority of Thailand Governor, said, “It’s wonderful to have three Thai attractions among the top 10 and we extend our warmest appreciation to all those who voted for them.”

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TripAdvisor called on the region’s travellers to make use of the attractions index to ‘inspire their search for tours, attractions and other great experiences’.

Earlier this year, the Ramayana Water Park was ranked Asia’s third best water park in the TripAdvisor Travellers’ Choice awards. It offers 21 water rides ranging from gentle to thrilling, a wave pool, lazy river ride, kids zones and relaxation pools.

A must-visit during any holiday in Bangkok, Chatuchak Weekend Market is one of the largest such markets in the world and has over 15,000 stalls selling all manner of items from clothes, antiques and pottery to art, handicrafts and pets.

Jim Thompson’s House is the home of the American entrepreneur credited with bringing Thai silk to the world, James H. W. Thompson. It consists of a complex of six traditional Thai-style houses and is largely unchanged.

On display is his impressive collection of art and antiques that includes sculptures, paintings and porcelain.

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IHG tourism chief gives upbeat forecast for Thailand’s tourism

By Gregory Preslier

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ver the last few years a strong rebound in Thailand’s tourist arrivals has been good news for the country’s hospitality sector. In Bangkok alone, the hotels industry has seen increases in occupancy rates to over 80 percent and room rates achieving growth of four per cent.

expansion across the region - including Singapore and, most recently, in a Bali resort location.

Thomas Schmelter said, “We operate in an environment that is constantly changing and, as a group of more than 5,000 hotels across 100 countries and territories all over the world, we are accustomed to cyclical fluctuations in the supply and demand of hotels. Thailand continues to be a market of huge potential for operators in the sector.

Thailand is also Asia Pacific’s most popular destination by tourist arrivals (source: MasterCard’s Asia Pacific Destinations Index 2016), putting the nation in good stead for resilience against other market factors. Tourism has been defiantly strong despite challenges such as restrictions on entertainment and festivities in the wake of the death of Thailand’s King Bhumibol Adulyadej and the focus upon independent Chinese visitors rather than low-yielding tour groups.

“In particular we have seen increased growth in the boutique sector. There is a burgeoning preference for hyperlocal experiences and memorable accommodation over factors such as budget and convenience and, since 2009, the global boutique hotel segment has grown consistently as more travellers seek unique and refreshingly local stays.”

Looking to 2018 and beyond, Thailand has its eyes firmly set on China.

It is anticipated that Bangkok will be one of the largest recipients of Chinese visitors in Asia, second only to Tokyo. According to InterContinental Hotel Group’s (IHG) Thomas Schmelter, InterContinental Hotels Group (IHG) Director of Operations – Thailand and IndoChina, “Chinese travellers are drawn to destinations such as Thailand for the rich history, culture and shopping opportunities.”

Overall, the Government’s strategy in targeting higher spending and higher quality tourists is proving fruitful and is on track to achieve its 2.77 trillion baht (US$78.25 billion) in tourism revenue for this year. This longterm positive forecast bodes well for the hospitality sector.

The country is expected to receive close to an additional 700,000 arrivals from China and will see an increase in Chinese traveller spending of close to 150 percent (US$20bn) by 2023, with Bangkok and Pattaya the key destinations.

IHG has 22 hotels and resorts in Thailand and is poised for expansion with more than 50 percent growth in new hotels in the pipeline. The group was behind the Hotel Indigo Bangkok Wireless Road debut in 2015 and the brand has continued its

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Gregory Preslier

He added, “We are witnessing a new breed of hotel guests in some of our newer brands. Hotel Indigo Bangkok Wireless Road is a ‘hot bed’ for millennials. Seeking those experiential adventures we tell the neighbourhood story and encourage guests to sample the locales, anything from street art at Chalerma Park, to a Sunday afternoon jazz concert in Lumpini Park.”

While an optimistic tourism outlook and the backing of strong diverse hotel brands bodes well for IHG Thomas Schmelter, who has been based in Bangkok for the past four years and worked across many of the group’s

Award-winning IHG management and employees.

properties, says doing business in Thailand is more than just hitting the usual commercial metrics.

“We’re in the people business and growth in Thailand is reliant on local talent. We have close to 4,000 employees in our corporate offices, hotels and resorts in Thailand, Over 90 percent of our employees are Thai nationals. As part of our localisation strategy we aim to have all Holiday Inn Express hotels staffed entirely by locals and we are looking to further develop local talent for senior leadership positions.”

Eighteen of IHG’s hotels in Thailand participate in the IHG Academy, an initiative where the hotels and corporate offices collaborate with educational providers and community groups to help local people build their hospitality skills and improve their employability.

“The IHG Academy is a win-win.

We provide opportunities to gain vital hospitality skills, while for

our business it allows us to develop a pipeline of skilled talent to support our growth,” said Schmelter.

“Our commitment to operating our business responsibly underpins our entire strategy. This includes the work we do in our local communities to develop people skills in hospitality, in our efforts to care for the environment, and in the way we offer support during times of natural disaster.”

Aside from skills training, IHG in Thailand is involved in other socially responsible community projects.

The IHG Foundation was launched in February 2016 to build upon the positive impact of the group’s responsible business programmes. An independent charity that provides grant funding and volunteer opportunities, the IHG Foundation has provided over 2,088 hours of volunteer activities to support different local charities such as the Foundation for Slum Child Care, Foundation for the Blind, and the War Veterans Organization of Thailand.

Looking to 2018, Thomas Schmelter is optimistic about the outlook for Thailand. “At IHG we are excited about the upcoming year. We remain focused on strengthening our portfolio of preferred brands, up-skilling home grown talent and working responsibly in the communities we operate.”

With a steady-flow of inbound tourists, a surge in savvy millennial travellers, combined with a responsible business strategy, Thailand’s hoteliers are on-track for a fruitful future.

Gregory Preslier is Area Director of Sales & Marketing – Thailand, and Director of Sales & Marketing InterContinental & Holiday Inn Bangkok. IHG® Thailand Ltd, 973 Phloen Chit Road, Lumpini, Pathum Wan, Bangkok 10330 Thailand Tel: +66 (0) 2 656 0444 Mobile: +66 (0) 98 619 9292 E-mail: gregory.preslier@ihg.com.

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Coining it

By Paul Gambles

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love travelling. Even though it’s often exhausting and means I spend far too many hours in overair-conditioned, fast-food infested, soulless sheds that pass for modern airports I still get a buzz from arriving in a different city – even if it’s somewhere I’ve visited countless times.

One thing I’m not a fan of, however, is changing currency. Actually, that’s not quite right. Seeing the different notes is part of the travel experience.

But when, as well as getting a downright shameful exchange rate, I have to pay commission on top it makes my blood boil.

I’ve often considered claiming a conscientious objection to such a poor deal, on account of being a financial advisor and a Yorkshireman – but no-one would listen. There’s too much money to be made.

There are already ways to lessen these costs to some extent. You always need to check the rates but, generally speaking, it’s cheaper to withdraw money from an ATM once you’ve landed and cheaper still to pay directly by credit card for goods.

I also like the idea of pre-paid cards based in the currency of your choice whereby you transfer your spending money in one go and thus only get hit once by currency conversion charges.

Having said all that it’s more than a little beguiling that we can have breakfast in Bangkok and dinner in Los Angeles and yet the cost of changing money appears to hark back to the jet-set age where only royalty and movie stars got to fly.

You don’t even have to get as far as Suvarnabhumi airport to fall victim to this. Many expats living in Thailand make regular contributions to

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international savings and pensions plans from Thai credit cards unaware that currency charges of around 2.5 percent are typically applied by locally issued cards.

You may have read recently that there’s an up-and-coming solution to this problem. If you believe the devotees, Bitcoin is set to become the global currency. That’s because it’s decentralised. So, if I buy something from you in Bitcoin, the transaction is directly from me to you. Neither of us needs a bank account to send or receive the money and we are not transacting in a currency managed (I use the term advisedly!) by a central bank.

Bitcoin has been around since 2009 but it has come to media prominence of late purely because of its price.

Having broken the US$1,000 mark for the first time in early January of this year, it reached US$6,156 on 30th October.

Fans may have you believe that its rapidly increasing value finally legitimises Bitcoin as a currency. I would disagree on three counts.

First of all, it’s not the value that’s increasing – just the price. A Bitcoin itself is a piece of binary code and is worth nothing.

Secondly, its use for trading on the dark web and the mystery of the 850,000 missing Bitcoins on the Mt. Gox exchange (and around 35% of the Bitcoins ever issued so far) tell me that it’s still far from being totally legitimate.

Finally, Bitcoin is not a currency – it’s an asset. This is because, despite all the publicity, it’s still very difficult to exchange for goods. Sure, there’s a hipster café in Greenwich Village, New York, where you can pay for

your matcha tapioca pudding with Bitcoin as well as an 80-year-old noodle place in Siam Square One in Bangkok. But it’s not yet possible to buy everyday goods, anywhere you want, with Bitcoin.

As far as assets go, it’s highly volatile.

Not only did its price multiply by five in just under eleven months, but its drops can be dramatic too. In midSeptember it dropped by US$1,000 in just four days. Making financial decisions on such a volatile asset may as well consist of being blindfolded, spinning around on a chair three times and throwing a pair of dice.

In fact there’s a story of a Norwegian who was persuaded to buy 5,000 Bitcoin for the equivalent of US$27 right at the start in 2009. He forgot about his investment until he heard about Bitcoin in the media in midApril 2013.

The price had gone up so much that he somehow managed to sell 1,000 of his Bitcoins for Norwegian Kroner and had enough to buy an apartment in a nice part of Oslo. If he had remembered about his Bitcoin holding at the beginning of April, though, he would have cashed in 41 percent less and, if he’d have sold on 16th April, he would have received 61 percent less.

Frankly, it’s not practical to invest in something that volatile. If it were truly a currency, it wouldn’t circulate around the economy. No-one would ever spend it as they may or may not get several times more Baht or Dollars for it if they stuffed their Bitcoin under the virtual mattress for a few months.

The failings of Bitcoin and similar cryptos does not mean to say that there’s no future for digital currency.

Some of the world’s most prominent

central banks are already looking into how blockchain encryption technology can help them to create a safe, reliable digital equivalent to their notes.

Three countries (Ecuador, Senegal and Tunisia) already have digital currencies as a way to include more people in their economies. This is not as great a leap as it may seem. In economies where few have access to bank accounts, many payments are made via mobile phones. Ecuador’s case is particularly interesting as the US Dollar is the official fiat currency there.

Having a digital alternative enables the Ecuadorean central bank to take back some control of money distribution from the US Federal Reserve.

Digital currency could well be the way that banks, companies and individuals pay for goods and services.

There is certainly potential for travellers to exchange currencies in a much more cost-effective way. For the moment though, these so-called cryptocurrencies represent exposure to unknown risk. Although we think that there are opportunities for speculators to make high risk returns from Bitcoin, cryptos are not for the faint-hearted and they will effectively ultimately revert to zero (unless they can adapt to a new paradigm).

More than anything I see Bitcoin as having become a Pump & Dump scam and any successful speculation will be at someone else’s expense.

Making money from Bitcoin will not be a victimless crime and that, right now, is my biggest concern.

Paul Gambles is Managing Director - MBMG Investment Advisory, Bangkok

Top Chamber award for Grenville Fordham

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he British Chamber of Commerce Thailand has awarded Honorary Life Membership to Grenville Fordham. Gren has been a great supporter of, and adviser to, the BCCT in Phuket since the Chamber’s first event there more than 15 years ago.

He moved to Thailand in 1995 and worked as a journalist in Bangkok before moving to Phuket in 1998. In 1999 he founded IMAGE Asia and quickly established it as a key player in the publishing sector of southern Thailand’s vibrant tourism industry.

With several print and digital titles under its belt the company also founded Thailand’s first international boat show (PIMEX) and one of the country’s main yachting events (Phuket Raceweek) – both of which were subsequently sold to focus on its core publishing business.

Most recently Gren developed ‘Meetinthailand.com’ – an interactive online portal for the MICE industry.

The website hosts detailed business profiles of almost 700 MICE suppliers. The objective is to give venues and suppliers in Thailand’s MICE and weddings sectors an opportunity to showcase their respective offerings in a detailed, searchable, multimedia environment. Gren has also served as Commodore of the Phuket Yacht Club, Chairman of the British Business Association Phuket and Chairman of the Marine Alliance of Thailand.

BCCT Board members led by Chairman Simon Matthews (pictured right) welcomed former UK Prime Minister David Cameron during his visit to Bangkok. Mr. Cameron was the keynote speaker at a major tourism industry conference in the city. Also representing the Chamber were ViceChairmen Chris Thatcher and David Cumming accompanied by Kelvin Tan, Mark Bowling, Kate Manning and Stephen Frost.

Presentations were given by Kate Manning (Adelphi), Stelios Petrakis (Lucy Electric), and Narasimhan Eswar and Christopher McDonald (Reckitt Benckiser) to give Mr. Cameron an indication of the range of business activities carried out within the Kingdom of Thailand by British businesses.

The wide-ranging discussions covered foreign ownership restrictions

in services, permits and licences, tertiary and vocational education, foreign participation in insurance and banking as well as some of the impediments to UK-Thailand trade and the long-term possibility of a postBREXIT bilateral free trade agreement between the two countries.

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Exciting Changes for Young Learners Julie Kelly, Senior Teacher, Bangkok Patana School

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uch time and consideration has gone into the planning of our new Foundation Stage , which includes a separate building for our Tiny Tigers and Nursery students plus a complete overhaul of the current Foundation Stage building. At Bangkok Patana, we are continually seeking to improve the quality of learning for the youngest students, and this has been at the heart of our development plans.

Natural Environment Although Foundation Stage learners are often attracted to bright, warm colours, they are not the favourable approach to creating enabling learning environments. Just like sound, we respond to colour with our whole body and the overuse of vibrant colours is often the cause of over-stimulation. Consequently, we have aimed to create a sense of peace and calm in our new buildings through the careful use of mild and soothing colour and lines that reflect nature. We operate a ‘less is more’ approach to the environment by creating a sense of space, flow and minimal clutter, enabling children to 22

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independently access the environment and see the links between the learning.

Outdoor Learning

In this busy, rapidly reforming, hot city, everyday life often takes place indoors with the air-conditioning. However, we very much value the importance of ‘learning without walls’ as a means for developing healthy, active lifestyles and promoting a sense of well-being. Through taking the learning outside, children reconnect with the wonders of nature in a safe environment. Our new outdoor play spaces have mud kitchens, bike tracks, stages, sandpits, water play and climbing frames as well as calm and quiet spaces including natural and shaded areas and zones to plant and grow. Physical play also provides endless opportunities to build friendships, learn to manage conflict and collaborate.

Role-Play and Expressive Arts Imagination is a powerful tool for future life and learning and it is vital that we provide students with opportunities to develop their imaginations and learn with others. For children, role-play

is essentially learning through play as it allows students to reflect on their understanding of the world and supports the development of early communication and language skills. Through our new role-play spaces, the youngest students learn to express their ideas and feelings in a relaxed environment; developing an awareness of themselves and others.

Role-Play and Expressive Arts Just like adults, students need quiet, calm times during the day to stop, think and to be mindful.

Our new buildings have quiet spaces – both inside and out – so children can read, share a book with an adult or simply sit and wonder.

Typically, young children are on the go throughout the day, physically challenging themselves, their young, inquisitive minds racing, therefore ‘balance’ is essential for developing a positive sense of well-being and happiness.

These are just some of the new additions to the Foundation Stage buildings. However, the most exciting part is observing the children as they have enthusiastically engaged with their new learning environments.

Our Guiding Statements and values lead us to continuously improve our students’ learning experience at all stages of development.

Our new Early Years learning spaces further enhance the experience of our youngest students through: Even more time to inquire

Even more opportunities for

Even more early years

through play-based,

outdoor learning, creative role

experts inspiring each

experiential learning

play and physical development

child’s learning

with an extended

in our inspiring new facilities

school day

Book a tour to come and see our impressive new learning environments : Email admissions@patana.ac.th

Celebrating 60 Years of British International Education

www.patana.ac.th admissions@patana.ac.th Tel: +66 (0) 2785 2200 The Link

Issue 4/2017

Bangkok Patana is a not-for-profit, IB World School, accredited by CIS and NEASC

23

Thailand leasehold terms revisited

By Simon Landy and Surachet Kongcheep

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he prospect of extending the maximum land lease term in Thailand has surfaced again.

The government is working on new rules that would allow investors to register a land lease for 50 years with a renewal option for another 49 years, for a total term of 99 years, if the land is located in Rayong, Chon Buri or Chachoengsao, which make up the EEC. The revision is uncertain as there is still strong opposition to it, and alternative solutions involving changes to other laws are also being considered. But would a simple revision to the leasehold laws be beneficial?

The 1999 Leasehold Act (to give it a shorter name) allows leases of up to 50 years and a renewal of another 50 years to be registered for commercial and industrial properties only. However, in practice getting a lease registered under this act is not easy.

Benefits to foreign investors

Thai property developers have joined foreign investors in calling for a re-

As Thai law does not allow foreigners to own land except in certain special cases, the government sees extending the lease term as a way to attract more foreign investment.

The maximum lease term under the Civil and Commercial Code (C&CC) is only 30 years, much shorter than in competing markets in the region.

Leases can be up to 99 years in Singapore and Malaysia and 70 years in Vietnam.

Maximum leasehold term in ASEAN countries The C&CC allows one renewal period of another 30 years, but since the renewal cannot be registered upfront, the parties have to wait for the first 30-year lease to expire before they can register the second term. If the underlying freehold is sold to another party, the new owner may refuse to register the renewal.

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As the following table indicates, most large-scale projects are therefore limited to 30-year leases, while most of those offering renewal options are on land owned by public sector or related landlords.

Large-scale leasehold land deals in Bangkok

Thailand Cambodia Laos Malaysia Myanmar Philippines Singapore Vietnam Indonesia Brunei

laxation of Thailand’s onerous leasehold laws. The Thai Chamber of Commerce has proposed a 99-year lease, although it is recognised that some sectors - such as agricultural and security-related land - may need to be excluded.

An unforeseen consequence of Thailand’s restrictive leasehold regime is the culture of nominee ownership.

Investors sometimes try to find a way around the restriction, resulting in the use of nominees, a general lack of transparency and institutionalised corruption.

Benefits to Thais Longer leases would not only restore Thailand’s competitiveness against

Leasehold period

30 years (50 years for commercial and industrial)

Renewal option

30 years

Leasehold period

50 (99 years in SEZ)

Renewal option

N/A

Leasehold period

30 – 50 (75 years in SEZ)

Renewal option

Case by case basis

Leasehold period

30 – 99 years

Renewal option

N/A

Leasehold period

50 years

Renewal option

10+10 years

Leasehold period

25 years (50 years for industrial)

Renewal option

25 years

Leasehold period

30 – 60 years (99 years for residential)

Renewal option

N/A

Leasehold period

50 - 70 years

Renewal option

N/A

Leasehold period

30 years

Renewal option

20 years

Leasehold period

25 -99 years

Renewal option

Case by case basis

No.

Site

Land Area (Rai / Hectares)

Tenant

Landlord

Investment Value (Million Baht)

Lease Period (Years)

1

One Bangkok

104 Rai

TCC Assets and Frasers Property Holdings

Crown Property Bureau

120,000

30+30

2

Sam Yan Mitr Town

13 Rai

Golden Land Property Development

Chulalongkorn University

8,500

30

3

Mixed-use project from CPN and Dusit

23- 2-2.72 Rai

Dusit Thani and Central Pattana

Crown Property Bureau

36,700

30+30

4

Mixed-use project on Silom Road

6-1-48 Rai

Minor International and Nye Estate

Sivadon Co.,Ltd.

16,000

50

5

Mixed-use project on Ploen Chit Road

6-0-28 Rai

Raimon Land

Bhatra Co.,Ltd.

10,000

30

6

Queen Sirikit Convention Center

53 Rai

NCC Management

The Treasury Department

6,000

50

7

Sindhorn Residence

Condominium 202 units

Private buyers

Siam Sindhorn Co.,Ltd.

4,500

30+30

8

Burasiri San Phi Suea

Housing 238 units

Private buyers

Sansiri Plc.

1,300

30+30+30

its regional rivals, it would also - and primarily - benefit Thai consumers, landowners and developers.

Banks are reluctant to lend against properties on leases of 30 years. A lease of over 90 years is generally considered close in value to freehold.

So if the new rules include residential property, buyers of leasehold property should be able to access mortgage loans at a similar loan-to-value ratio as freehold property.

Government plans to encourage private development of low-income housing on land leased from the government at low rates are unlikely to work if low-income earners are unable to access decent mortgage loans.

But the biggest winners from longer leases will be Thai landowners. Those reluctant to sell their land will be able to offer longer leases, and therefore make much more money than before.

As a major landowner in the EEC, the government would be a key beneficiary. Developers will not only pay more, they will also be able to build higher quality buildings in the knowledge that there is sufficient time to earn returns on the invested capital.

Reactions Initial reaction has been mixed.

Some fear that highly liquid foreign investors will buy large swathes of

the country, effectively disenfranchising the Thais and locking countless farmers into poverty serving foreign interests. There is also a more hardnosed commercial fear that Thai investors will lose out if they need to compete on a level playing field with deep-pocketed foreign investors for prime assets.

The pro lobby response is that, first, the freehold land will still be owned

by Thais, with the lessee (who could be Thai or foreign) only owning a subsidiary interest for the length of the lease.

Second, many large Thai corporations already own large swathes of Thailand, so the poor are already often unable to buy land. Third, even if the land is held by foreigners, they will eventually go home and they can’t take it with them.

A game changer?

The impact of 99-year leases in the EEC will depend on the details of the rules when promulgated. It is unclear whether all land (or just government land) in the three provinces will be eligible, whether it will cover residential property as well as commercial, and whether there will be specific qualifications required for either developers or projects.

If the new rules really do simplify

processes - possibly allowing the second 49-year term to be registered on day one - and include residential property, the impact on EEC property markets could be significant.

However, as a means of attracting foreign investment in the industrial sector, the benefits are less obvious.

Foreign investors in Thailand are already allowed to own freehold land if it is in an IEAT zone or for a BOIpromoted activity, which usually means manufacturing but can include certain hotels and other properties. This benefit far outweighs a longlease allowance and is already available.

But outside of the BOI/IEAT orbit, the new rule could result in increased investment activity by foreign investors who currently gravitate to the more liberal land regimes of Singapore, Malaysia and even Vietnam.

These funds, being more institutional, would be greatly beneficial to Thailand’s property market. Without this source of money, the Thai market will remain relatively immature and undeveloped – and potentially more volatile.

Simon Landy (Director) and Khun Surachet Kongcheep (Associate Director) may be contacted at Colliers International Thailand.

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25

Has acquiring a second passport become a new commodity?

By Bastien Trelcat

G

lobalisation has created a new class of mobile citizen seeking multiple nationalities. A second nationality provides the high net worth individuals (HNWIs) holding a passport that does ranked high with a way to pursue business, financial and personal opportunities in geographies with political and economic stability and better overall quality of life.

An additional passport can facilitate residency abroad, ease of travel and access to, and mobility of, personal assets. For instance, as of 1 January 2017, Thai citizens had visa-free or visa on arrival access to 71 countries and territories – ranking the Thai passport 67th in terms of travel freedom.

In Europe, on the high end of the CIPs spectrum, Cyprus and Bulgaria are two countries offering a citizenship by investment option to HNWIs, literally unlocking the concept of acquiring a European passport and hence the right to reside in an EU member country.

social upheaval or unstable, confiscatory political regimes. Where instability reigns, assets are at greater risk.

But obtaining a second passport has never been easier with Citizenship by Investment Programs (CIPs). While there are many ways to immigrate to a foreign country, CIPs are typically the fastest and most straightforward means to a second passport for most HNWIs and their family members.

Who would not be tempted by the right fast-track citizenship programme which can provide a second passport that allows visa-free access to major regions and countries in the world, including stable jurisdictions such as the Schengen states, the United Kingdom, Singapore and even China? For many, such open doors are well worth the price and even considered a bargain.

The specifications of different programmes vary by country, allowing foreigners to invest in real estate projects and businesses, to purchase properties, or to donate money directly to a country’s governmental fund in exchange for citizenship and its inherent rights.

Given the number of welcoming, business-friendly jurisdictions offering the incentive of affordable investment opportunities and fasttrack citizenship processing, today’s HNWIs are spoiled for choice as to where they can acquire their new citizenship and passport.

On the practical front, investing in an alternative residence and citizenship, acquiring a second passport is seen as an instrument of financial and personal security. A growing number of HNWIs seek additional passports for asset protection, minimisation of taxes and better tax planning as well as an insurance in the event of economic and

There is growing competition – especially amongst a number of wellregulated, tax-friendly offshore jurisdictions in close geographical proximity. This is the case in the Caribbean which has five countries offering CIP options: St. Kitts and Nevis, Antigua and Barbuda, Dominica, Grenada and St. Lucia.

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Despite the fixed ไinvestment price for each CIP, for HNWIs nowadays such passports are truly ‘collectibles’ with priceless value while some options only start at US$100,000 - attracting several thousand new applicants every year.

Harvey Law Group (HLG) is an immigration and business law firm headquartered in Hong Kong and serving businesses, individuals and governments across Canada, Asia, Middle East, and South America. With offices notably in Montreal, Hong Kong, Xiamen, Ho Chi Minh City, Hanoi, Da Nang, Bangkok, Yangon, Singapore, Manila, Phnom Penh, Antigua & Barbuda, Dominica, St. Kitts & Nevis & Grenada, along with a regional and international network, Harvey Law Group can provide exceptional legal representation to businesses and individuals around the globe.

HLG practices in various areas including investment and business immigration, residence and citizenship programmes, business and corporate law, company formation, labour and employment issues, due diligence, mergers and acquisitions, tax planning and structuring, real estate, contracts and agreements, intellectual property, environmental law and cross-border trade issues.

HLG is duly licensed by most CIPs to promote and submit applications on behalf of investors.

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27

Why teachers are our most precious resource

By Sunny Varkey

Global Teacher Prize founder Sunny Varkey launched the annual US$1M award to raise the profile of teachers and provide a lasting inspiration to the world’s children. He shares his thoughts with The LINK.

I

n most parts of the world and throughout history, teachers commanded wide respect as essential builders of communities, whose work truly shapes the future in a positive way. From Aristotle to Einstein, teaching has been seen as a noble profession and the wisdom that emanated from such people changed, improved and advanced the world from generation to generation.

My own parents were teachers who came from Kerala in South India in 1959 to Dubai and opened an English school to teach locals and expats as the country grew in the 1960s.

As a child, I saw many families ask my parents for advice on all aspects of their lives. Seeing this broader value – the power of education in the classroom and its ability to reach far beyond - I also decided to make the spread of education’s benefits my life’s work.

But I have seen a big difference in how we used to regard teachers and how they are treated these days. From once respected, even revered, keepers and dispensers of wisdom and good, they are now too often used as scapegoats for the ills of the world.

In recent years I have seen the finger of blame pointed at them for everything from deteriorating manners to a nation’s lack of success in achiev-

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ing its target medals at the Olympic Games. The respect for what teachers do and what they achieve seemed to be dwindling away. In some ways it seemed to me to be part of a wider social trend of attaching importance to transient things, while turning our backs on established virtues and values.

There were pockets of evidence scattered around that supported this view, but five years ago there was no reliable and definitive international research to back this up. So we commissioned a detailed survey in 21 countries around the world, asking people to give their comprehensive views on the status of teachers and teaching today.

The result was the Global Teacher Status Index which highlighted that teachers are not highly regarded in many parts of the world. The survey also found that in many countries,

between a third and half of parents would “probably” or “definitely not” encourage their children to enter the teaching profession. China was the only nation where people felt that teachers enjoyed the same high status as doctors.

With the case proved, and extensively, the challenge became how we go about changing that mindset. Some argued that prizes like the Global Teacher Prize are not the way to do it, as they just single out a few teachers for a fleeting turn in the spotlight. In a sense that is right, but my response was that there are countless incredible teachers out there and we start by telling real-life stories of some individuals, with examples of how they are transforming children’s lives, which resonate more widely; and from there it grows.

We have now had thousands of nominations from hundreds of countries

and awarded the US$1M prize three times with great ceremony and media attention. We have also been careful to spread the Global Teacher Prize activity over the whole year with the opening of nominations, announcement of a top 50 shortlist, choosing the top 10 finalists and ultimately the winner with the associated #TeachersMatter discussion on social media continuing all year round.

Crucially, commentators, public figures and the most popular and widely read media in the world have been discussing the vital contribution of teachers. They have shown how this pivotal vocation makes such a profound change in all our lives. My hope is that our greatest teachers will one day achieve the same attention and following as the feted and celebrated stars of film, sport, fashion and music.

The Global Teacher Prize is now taking on a life of its own, with governments adopting its model to launch over 20 national versions of the award, everywhere from Argentina to Italy. It is also enormously humbling that world leaders have come

out to support the prize. President Bill Clinton, Queen Rania of Jordan, Professor Steven Hawking, Prince Harry, Canadian Prime Minister Justin Trudeau, Oscar-winning Hollywood star Matthew McConaughey, International Space Station astronaut Thomas Pesquet (live from space 20 miles above the earth) and Bill Gates are among those who have generously donated their time to announce finalists, send messages of encouragement and even present a prize in person.

A truly awe-inspiring highlight was when His Holiness Pope Francis announced Palestinian teacher Hanan Al Hroub as the winner of the 2016 Global Teacher Prize. His Holiness also invited Hanan to the Vatican.

Seeing her share her moving experiences of delicately helping children traumatised by conflict was one of the highlights of the Global Teacher Prize journey.

To keep enthusing children to nominate their teachers for the prize means we have to keep changing it up, to avoid becoming repetitious or predictable. I think we achieved this with the excitement that accom-

panied adventurer and Chief Scout Bear Grylls, a former British Commando who served with the SAS, parachuting from a helicopter into the 2017 prize ceremony at the Palm in Dubai to deliver the trophy.

Bold actions generating excitement in the cause of celebrating teachers writes headlines around the world and has never been more needed.

In 2018, the Varkey Foundation will publish a new and updated Teacher Status Index to chart the progress of their status globally. Then we can see how far we have come in restoring teachers to their rightfully respected place in society.

I have an ultimate goal, and that is for every child to receive their birthright: a great teacher and a quality education. But it will take more than a prize to end the shame we must all feel, of children abandoned to poor or even no education: it needs a lasting commitment by all the governments of the world.

Sunny Varkey is founder of the Varkey Foundation

Hurricanes hit global air traffic T

he International Air Transport Association’s global passenger traffic results for September 2017 show that demand (measured in revenue passenger kilometres) rose 5.7 percent compared to the same month in 2016.

This was the slowest year-on-year increase since February 2017. Hurricanes Irma and Maria weighed heavily on the results, states IATA, although growth already had been tapering. Capacity climbed 5.3 per-

cent and the load factor edged up 0.3 percentage points to 81.6 percent - a record for the month of September.

“September’s growth in passenger demand was healthy, notwithstanding the heavy impacts of extreme weather events on the Americas,” said Alexandre de Juniac, IATA’s Director General and CEO. “Global economic conditions support rising passenger demand, but with higher cost inputs, the demand stimulation

from lower fares has waned, suggesting a moderating trend in traffic growth.”

Asia Pacific airlines’ traffic rose 8.7 percent in September compared to the same month in 2016. This was the strongest growth of any region. Capacity increased 7.8 percent and the load factor climbed 0.6 percentage points to 78.3 percent. The solid regional economic backdrop, helped by robust growth in China, continues to support passenger demand in the Asia Pacific region, according to IATA.

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29

Banyan Tree leads by example in sustainable development Claire Chiang, co-founder of Banyan Tree Hotels & Resorts and Senior Vice President of Banyan Tree Holdings, talks to The LINK about her award-winning organisation.

T

hrough more than 20 years of development, Banyan Tree Hotels & Resorts has transformed into a leading international operator and developer of premium resorts, hotels, residences and spas with 43 hotels and resorts, 62 spas, 75 retail galleries and three golf courses in 25 countries.

We operate four hotel brands which are Banyan Tree, Angsana and the newly-established Cassia and Dhawa. Together these four brands offer different experiences to our various target groups. We also operate Asia’s first integrated resort at Laguna Phuket as well as Laguna Bintan, Indonesia and Laguna Läng Cô in central Vietnam.

Our third hotel brand – Cassia – is a bold new proposition in the extended stay sector that offers stylish, cuttingedge hotel residences for holidays and business travel. Cassia was officially launched in October 2015 with the opening of Cassia Phuket and this is an example of how we are carving out new opportunities and identifying new trends in travel and hospitality.

This hybrid model of holiday home and investment fills a gap in the extended market which has been well received. The second Cassia opened in Bintan in August 2017.

The flagship Dhawa property is in Cayo Santa Maria, Cuba where guest rooms feature a music system and variable lighting options integrated into the bathrooms – catering for design-savvy travellers and millennials.

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400-hectare site was too polluted by chemicals used in the mining process and too damaged environmentally to offer any potential for development.

We did not give up and walk away.

Instead we pumped in US$ 200 million to restore the area by careful design and arduous development, preserving those trees that remained after the tin mining and introducing new plants and top soil to develop the landscape. The resort is now teeming with birds and fish and has a sophisticated recycling system to handle refuse, sewage disposal and water treatment.

Claire Chiang

The emphasis is on contemporary design, creative food and beverage options, multi-use public spaces and a more approachable price point.

Since the launch of the first Banyan Tree resort in Phuket in 1994 we have received nearly 2,000 awards and accolades for the resorts, hotels and spas managed by our Group. The Group has also received recognition for its commitment to an overarching focus on sustainability towards environmental protection and developing communities where we plant our flags.

After we bought the land in Phuket in 1983 we learned that it was an abandoned and polluted tin mine, written off in 1977 by a United Nations survey that indicated that the

Having rehabilitated a wasteland into a habitable community our company continued to care for the environment, considering how it may enhance and benefit the community. The challenge to a hotel developer is how to serve as an agent of social and economic development while consciously minimising any friction and resistance within the local community.

By mindfully adopting sustainability as a core business value and designing our business strategy so that it is integrated into all aspects of our company from architecture, and developing designs of our hotels through sourcing raw materials and producing the myriad of amenities and products for our hotel rooms, spas and retail outlets, we seek a balance between shareholders and stakeholders in our company ethos ‘Embracing the Environment, Empowering People’.

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31

BUPA launches influenza vaccine campaign Dr. Hemal Desai, Medical Director of Bupa Health Insurance (Thailand) Public Company Limited, speaks to The LINK about the new influenza vaccination programme.

Describe the objectives and outcome?

Bupa is a healthcare partner for our members so we want to help them avoid illness and prevent disease.

At this time of year, influenza infection can be very disabling and can lead to serious illness in some people. Therefore we set up a free flu vaccination programme in order to increase immunity and decrease the risk of flu infection.

How may we avoid influenza?

Why is this vaccination programme so important?

As a healthcare partner we understand the importance of keeping our members healthy. For most people, flu is not a serious infection with recovery within one to two weeks. However, for some groups, the infection may be more serious, especially children under five years old and those over 65 years of age. Those suffering from long term illnesses such as diabetes, asthma, chronic obstructive pulmonary disease and high blood pressure are also at risk. This programme reaffirms our commitment to providing a valuable customer experience that support healthy living.

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The best way to prevent the flu is to get the flu vaccine each year but good health habits such as covering your cough, washing your hands frequently, avoiding close contact with people who are sick, avoiding touching your eyes, nose or mouth and practising other good habits can also help stop the spread of germs and prevent respiratory illnesses.

What are the benefits of getting the influenza vaccine?

It is a good way to help prevent you catching the flu infection. It is known to reduce the risk, severity and complications related to flu. If enough people are vaccinated it can

also help to prevent the spread of infection in the wider community.

Do you have plans to continue or expand other projects in the next year?

Yes, we see health promotion and disease prevention for our customers as a key focus area in the future. We want to be a partner with our customers to improve their health and you will see several initiatives in the future.

How is the customer feedback?

We have had positive responses from our customers about our first vaccination initiative. Their feedback shows that we truly care about their health.

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33

Member News

Amatara launches brain health programme in Phuket

A

matara Wellness Resort has linked up with Bangkok Phuket Hospital’s Brain Health Institute to bring to launch a brain health enhancement programme that combines the highest levels of preventative health care integrated with a luxury wellness vacation.

The programme centres upon on the health and longevity of the brain.

The focus of the programme is on Alzheimer’s prevention and is highly recommended for those with a family history of the disease; for the purposes of early intervention; for improving or maintaining brain health and cognition and take conscious steps against age-related cognitive decline, and for individuals whose daily lives include stress and long working days.

Stunning ocean views from the wellness resort’s luxury villas.

Patients at the Brain Health Institute are guided by a team of medical

BOONMA, a global provider of end-to-end moving and relocation solutions, has signed a Memorandum of Understanding with PREM Tinsulanonda International School designed to provide ‘hassle-free, one-stop assistance to expatriate parents and teachers when they need to take international assignments’.

Pictured at the signing ceremony are (seated) Toddy Teerawit (BOONMA) and Linda Buck (PREM). Standing from left to right are: Simon Hoban, Jean Valendez and Dream Sricharoen.

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professionals through a series of tests and medical treatments. Between tests, patients may enjoy nutritionally personalised meals, one-on-one exercise, meditation and stress management as well as accommodation specifically designed for high quality sleep and relaxation. Personal assistants are assigned to support and guide the patient throughout the programme.

The stay at the Brain Health Institute is followed by five nights at the Amatara Wellness Resort.

The partnership between the Brain Health Institute and Amatara means that patients can be sure that the interventions, dietary plan and exercise that have been recommended are seamlessly integrated into the resort stay, all within the luxurious wellness retreat setting of Amatara. Each room at the Amatara enjoys views of the Andaman Sea. Prices start from THB 376,200 for a single guest and from THB 324,300 per person for couples. Email: reservations.phuket@amataraphuket.com.

Member News

Technology redefines workplace and workforce in Asia Pacific region T echnology has emerged as the primary catalyst for a longterm commercial real estate revolution in the Asia Pacific region, according to CBRE. In new CBRE research just published, corporations in the region are recognising that it’s time to restructure their operations around new technology and that this requires innovative talent to facilitate the change. Advances in technology are breaking the traditional expectations on location, placing employee experience at the centre of major real estate decisions across the region.

CBRE’s WORK_IT: Technology | Workplace | Jobs survey found that technology will redefine the Asia Pacific region’s corporate real estate order in the coming years with landlords likely to emerge as the greatest enabler of change.

Employees’ preferences are rarely included in the corporate real estate decision-making process but rapid technological advancement is reversing this process and individuals are increasingly acting as workplace influencers. As a result, corporations’ decisions are being informed by connectivity and accessibility as well as talent attraction and retention.

“The transitional role of technology in commercial real estate will continue to enhance and influence an evolving employee experience across Asia Pacific.

While location will remain important, the changing order of real estate will require buildings and work spaces to be far more flexible and adaptable than before,” says Steve Swerdlow, Chief Executive Officer, CBRE Asia Pacific.

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Dr. Henry Chin

Major findings of the report: • Location is no longer everything: Location has long served as a major determinant of where business is conducted but technology innovation and availability of human capital are changing locational preferences • Technology puts people at the center of the workplace: The move towards a tech-enabled workplace is driving a stronger emphasis on improving the end-user experience. More than half of occupier respondents want a more customised workplace environment that adapts to the needs of their people • Mobility is rewriting office demand: As mobile working takes hold across Asia Pacific, companies will create office environments that improve staff satisfaction and comfort. The user experience will

influence real estate strategies, and technology will enable employees to customise their working location, allowing them greater flexibility in choosing, how, when and where to work. Based on CBRE research, corporates will increase headcount in IT professionals and outsourcing/offshoring, whereas a net decline is expected in the back office function • Landlords are the enablers of change: Occupiers are the activist in changing the workplace environment. Landlords must partner more closely with tenants when developing smart buildings, engaging with tenants at the planning stage to ascertain the features and technology they require. Incorporating technology in new buildings will be relatively straightforward, but retrofitting older properties will be more challenging As a result of this growing awareness, approximately 50 percent of occupier respondents expect to require less office space in future, primarily because of improved space utilisation and a reduction in headcount.

However, while the volume of space required will decrease, CBRE expects to see occupiers demand higher quality space capable of encouraging greater collaboration, innovation and employee wellbeing. Landlords are comparatively more confident about the outlook for demand as the shortage of demand will come from co-working and start-up companies, with only 32 percent of respondents expecting to see a decline.

Member News “Technology is enabling a more mobile workforce and requiring companies to build more agility into their headcount planning. As better space utilisation and weaker front and back office headcount growth reduce overall demand for office space, landlords must act to ensure they remain competitive. In time, they will emerge as the real catalyst for meaningful change,” says Dr Henry Chin, Head of Research, CBRE Asia Pacific.

Additional findings: • Mobility as reality: 85 percent of respondents expect to see an increase in mobility in their future

workforce via workplace formats such as Activity-based Working or AGILE Workplaces • IT rising: IT headcounts will increase and more multinationals are likely to use co-working spaces and incubation centers to improve their access to IT talent and innovative ideas • Internet of Things (IoT) gap: Most landlord respondents (84%) believe that technological innovation will drive stronger demand for smart buildings. In comparison, just 56 percent of occupier respondents indicated the same, reflecting the fact that tenants retain the view that smart buildings are nice to have but not essential

CBRE’s WORK_IT: Technology | Workplace | Jobs report was based on the findings of approximately 100 face-toface and phone interviews conducted by CBRE Research between June and August 2017. Respondents comprised 69 percent of occupiers and 31 percent of landlords to ensure a balanced view from both groups.

Most respondents were senior corporate real estate staff. Also interviewed were individuals responsible for technology innovation within their organisation. The marquee report is part of a wider series that will continue into 2018, examining the transformational impact of technology in the workplace. The report series includes country-specific survey reports for China and India, and a collection of articles on technological impact.

More details at: www.cbre.com/TWJ

Berkeley’s new sports league attracts international interest

By Lloyd Peter Wilson

J

une 2017 saw the founding of a new sports league for international schools in Bangkok. The importance of a well-rounded sports education is taken very seriously at Berkeley International School. That’s why we’re delighted to be a part of the new Asia International Schools Athletic Association. The AISAA league features the current member schools, namely Berkeley, Concordian, Ekamai, KIS, Mahidol and Wells, and is open to new schools across the region.

AISAA began activities in the current school year 2017-18. The league believes in respect, good sportsmanship and fair play with the main goal being friendly competition between the member schools. Berkeley consider these values to be essential for teamwork, leadership and acquiring the skills to be able to function in group activities at any level and in any job later in life.

the first season’s play is concluded.

The prerequisite for a school to join AISAA is being able to field teams of all age groups in both boys and girls sports. AISAA also tries to have schools competing at a local level, thus eliminating long journeys for students to and from league games and tournaments.

Other schools may apply to become full-time members of the league after

We have received expressions of interest from schools in Cambodia,

Japan, Myanmar and Hong Kong as well from Thailand.

The schedule for the league is broken into three seasons, giving students the opportunity to play different sports in one school year. The league is flourishing and we hope it will continue to grow, giving all competing students a daily dose of team play and practice and a wonderful set of memories for many years to come.

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New Game for TV star Nikolaj at NIST

By Jared Kuruzovich

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hailand may remain tropical but at least for a few hours in late September the cool touch of winter arrived. Nikolaj Coster-Waldau, widely recognised as Jamie Lannister on the hit HBO series Game of Thrones, served as a referee for the Global Goals World Cup(GGWCup) at NIST International School, home to the Chelsea FC International Development Centre Bangkok.

A collaboration between Eir Soccer and the UN Development Program (UNDP), the GGWCup aims to create a new kind of sport tournament for women using the UN Sustainable Development Goals (SDGs) as a catalyst to merge football, advocacy and culture. By choosing and championing one of the goals, each team of women helps build awareness and contribute toward the achievement of the goals.

As a UNDP Goodwill Ambassador and avid football enthusiast, Nikolaj Coster-Waldau has supported the GGWCup from the beginning, firstly in New York and Nairobi and now in Bangkok where the tournament was sponsored by PANDORA. While his efforts as an official ambassador focus on gender equality and climate change, he sees his role as shining a light on the work that others do to work toward all of the goals. This aligns to the philosophy of the GGWCup. Co-founder Majken Gilmartin believes that sport has a unique power to unite all kinds of people around the common goal of making the world better, adding that ‘this work with Chelsea, NIST and UNDP is a perfect example of the

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kinds of innovative alliances that are needed in order to accelerate progress towards sustainable development’.

In a world that increasingly sees nations and communities becoming more diverse, defined more often by their many differences than their

commonalities, it’s rare to find a shared vision and values that tie people together. The prevalence of this diversity makes the SDGs all the more remarkable. Building on basic aims such as the eradication of poverty, reduction of inequality and creation of clean energy, the goals provide a

Member News framework for the future that nearly all can agree upon and work toward.

This is particularly important in Thailand, where the UNDP’s work faces numerous challenges common across Asia, including a rapidly growing population, high consumption of resources and high levels of inequality. Bridging diverse communities to build shared support for the SDGs is crucial to their success.

At NIST, a school that welcomes families who represent nearly 60 nationalities, individuals similarly have come from a wide range of backgrounds, languages and cultures. Bridging this rich diversity are

the community’s core values, closely linked to those of the UN, and a shared commitment to the SDGs. The strong commitment to achieving the goals is firmly entrenched its mission and programmes. By fusing education, community engagement and service, NIST has created a unique learning model that has been recognized globally, including through the contributions of alumni such as Praya Lundberg, a UN Refugee Agency Goodwill Ambassador.

During his time at the school, Nikolaj Coster-Waldau acknowledged the success of NIST’s approach. “This is

probably the most impressive school I have ever seen. It is very inspiring”.

Collaborations such as this will be essential to identifying sustainable solutions that will move us all toward the accomplishment of the SDGs. Organisations such as the UNDP, Eir Soccer, NIST, Chelsea FC and PANDORA have served as pioneers, striving to make a positive impact in their communities and empowering others. The GGWCup will return to Bangkok and it will continue to expand to cities on every continent as it unites people to work toward a shared vision of a better world.

For the fifth consecutive year, the InterContinental Bangkok hotel has been voted ‘Asia’s Leading Business Hotel 2017’, as well as being named ‘Thailand’s Leading City Hotel 2017’ and ‘Thailand’s Leading Hotel 2017’ at the World Travel Awards. The awards were announced during the gala ceremony in Shanghai. World Travel Awards, which celebrated its 24th anniversary in 2017, is attended by senior executives from major travel companies, operators and destinations.

Pictured is Thomas Schmelter, General Manager of InterContinental Bangkok.

Shrewsbury International School Bangkok is to build a new city-centre primary school for 640 pupils aged three to 11 years. The school, scheduled to open in August 2018, will be located between Sukhumvit Road and Rama IX Road and is expected to cost some THB 2,600 million (US$ 78m).

The new city-centre campus complements Shrewsbury International School Bangkok’s riverside campus on Charoenkrung Road. The riverside campus was established in 2003 with the support of Britain’s highly respected Shrewsbury School and comprises a primary and secondary school for children aged three to 18 years with almost 1,700 pupils on the register.

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Knight Frank launches marketing service K

erty tax level is one of the lowest in south east Asia and stamp duties and transfer fees for new properties are partially absorbed by developers”

night Frank Thailand has launched an International Project Marketing Service (IPM) led by Frank Khan, the company’s Executive Director and Head of Residential Department. The IPM service is designed to expose major developments to Asia Pacific buyers through exhibitions.

“We help bring the developer’s project to a potential customer base abroad and connect a large number of international property buyers and investors to the developers. We also feature roadshow events, marketing strategies, consultation and market advisors. Clients can be confident of professional marketing teams that will bring developers’ residential project highlights to prime property markets (such as) Hong Kong, Singapore, Malaysia and China,” explained Frank Khan He added, “Investment in Thailand

With frequent low-cost flights and short travel time, travelling from Hong Kong to Bangkok is a seamless affair. This convenience, combined with the attractive and affordable lifestyle of Bangkok, is also stimulating Hong Kong buyers to consider the potential of owning a second home, explained Marciano Birjhohun, the company’s Associate Director of International Project Marketing. Malaysia also offers potential.

Frank Khan

gains the most benefits from the capital gain tax, as Thailand ’s prop-

“Despite the devaluated ringgit, Malaysia remains a major playground and we have strategised a series of educational sales events to offer support to buyers. We know from experience that Malaysian investors prefer to leverage on a mortgage,” he added.

New serviced offices ATa services is set to offer services office accommodation at Green Tower on Bangkok’s busy Rama 1V road, with convenient access from the BTS at Thonglor station. Businesses will be able to choose office space from 12 to 400 square metres when the facility opens later this year.

Monthly rental rates will include building management fees, taxes, electricity, cleaning, Wi-Fi, maintenance and a manned reception desk.

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Business confidence in APEC reaches three year high C onfidence in revenue growth is at its highest level for three years amongst business leaders in 21 Asia-Pacific Economic Co-operation’s (APEC) economies with 37 percent of APEC CEOs ‘very confident’ of revenue growth over the next 12 months. This is despite trade policy uncertainties and related political tensions in many of the economies that make up APEC.

increase business - either domestically or in economies with bilateral ties.

The drive to perform on a regional level continues to increase, and transform the competitive landscape for business in the APEC economies. CEOs identified increased competition from leading regional businesses in APEC economies, and emerging economies for the third year in a row. Combined they now overtake competition from traditional developed economy multinationals.

PwC surveyed over 1,400 business leaders with responsibility in each of the 21 APEC economies in the run up to the annual APEC CEO Summit in Vietnam.

In the next year a net 50 percent of businesses surveyed will increase global investments (including those outside the APEC region), up from 43 percent in 2016, as APEC businesses increase their foothold and influence on the global economy.

Seventy one percent of those surveyed that are raising investment will direct those increases into APEC economies in 2018 and 63 percent of all APEC CEOs expect their respective broader global footprints to expand over the next three years.

The biggest domestic investment winners will be Vietnam, Russia, the Philippines, Indonesia and Malaysia. Vietnam, China, Indonesia, the US and Thailand are the top APEC targets for business leaders’ overseas investment.

Bob Moritz, PwC Global Chairman, said, “Business leaders’ confidence suggests they are not waiting for the fog of uncertainty to clear to push ahead with investment plans. In the short term this will drive momentum for APEC, increasing its global influence and supporting deals activity with 71 percent of CEOs expecting to rely more on business partnerships/joint ventures in the future.

“CEOs’ concerns about restrictive trade conditions, particularly the movement of labour and goods, have to be a key 42

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Bob Moritz

area of discussion for APEC leaders at the upcoming summit as it directly impacts competition and growth. Thirty percent of business leaders want APEC, as a forum, to take the lead on exploring labour mobility solutions. The majority of business leaders are bullish for growth, and see APEC becoming more economically linked over time, with three quarters seeing slow current progress towards deepening economic integration.”

In the survey almost a quarter of APEC CEOs admit they experienced a more restrictive trade environment, particularly focused around employing foreign labour (23%) or in moving goods across borders (19%).

In the near term, thirty percent expect labour restrictions to increase and a quarter expect an increase in barriers on moving goods to increase in the next 12 months. Half of CEOs in Singapore, one of the world’s global financial centres, admit they expect an increase in barriers to labour mobility in the next 12 months.

As a result a majority of CEOs (71%) expect to rely more upon business partnerships and joint ventures in response to changing trade environment. Sixty eight percent of those surveyed plan to

Nineteen percent believe their biggest competitor in the next three to five years will be a multinational from an emerging economy, or regional leaders in APEC economies (22%). Almost a third (32%) believe developed nation multinationals are their biggest rival, down from 41 percent in 2014.

With confidence increasing, perceptions of the opportunities for innovation-driven growth have improved, but business leaders’ concern about their ability to secure the right skills to compete globally is increasing.

Automation is a key recurring theme in strategies for building the workforce of the future, with 58 percent automating certain functions, 40 percent investing in machine learning and emerging technologies, and 41 percent identifying workers are skilled at using new automation tools.

For ASEAN businesses, automation is high on the agenda, as the key building block in their strategy to develop a digital workforce.

Bob Moritz added, “APEC economies could be a test bed for the integration of automation with the workforce of tomorrow. Businesses know best what skills they need, and now public and private sectors need to work together to create practical ways to train, develop and access those skills.”

Download the full report at www.pwc.com/apec

Member News

New look for Royal Lancaster London

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he Thai-owned Royal Lancaster London hotel has unveiled its new design following an £80 million renovation programme in which the hotel has been completely transformed, both internally and externally.

The entire frontage of the hotel has been remodelled and the exterior architecture now features a dramatic glazed façade revealing an impressive doubleheight reception space. The showpiece of the lobby is a palatial sweeping staircase comprising more than 300 square yards of white Carrara marble. The redesign of the 18-storey hotel encompasses the complete refurbishment of all 411 guestrooms and suites. Room categories start with the Classic Double priced from £219 per night.

The first stage of the refurbishment commenced in 2015 with the redesign of Nipa Thai, the hotel’s award-winning restaurant. The grand opening is now taking place as the majority of the hotel is completely renovated. Works

are scheduled for completion in May 2018 following a soft re-design of The Lounge Bar and The Park Room.

Hotel General Manager Sally Beck said, “The hotel has had a rich and celebrated past, having opened as one of the most chic hotels in London in 1967. Our Thai owner, Khun Jatuporn Sihanatkathakul, has been directly involved in the new design which exudes mid-century glamour and understated elegance

synonymous with London. We are looking forward to the next 50 years.”

Cinema enthusiasts will be interested to note that the hotel featured in the 1969 film ‘The Italian Job’ starring Michael Caine. The Royal Lancaster London is one of the largest banqueting venues in Europe with a capacity of 3,000 guests across its 16 refurbished meetings and events spaces. More details at: www.royallancaster.com.

Nick makes Bangkok switch

N

ick Boyd has been appointed Director of Operations for the award-winning Hilton Sukhumvit Bangkok hotel and its sister property the DoubleTree

by Hilton Sukhumvit.

Nick, aged 29, moves to Thailand from the United Kingdom where he was Director of Operations at the Hilton Olympia hotel in west London. His previous experience also embraces roles at the Hilton Kensington hotel and at two of the group’s properties in Melbourne, Australia.

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Thailand sees boom in hotel investments H ong Kong is leading the Asia Pacific region in terms of volume of hotel investment transactions with 11 deals worth almost US$1.5 billion recorded in the year to September, according to figures published by JLL.

with transaction volumes reaching more than US$1.2 billion as of September 2017. The lead up to the 2020 Tokyo Olympics will continue to boost tourism, with the government aiming to double the number of foreign visitors to 40 million by 2020.

Japan and Thailand saw the second and third highest levels of activity across the region at US$1.2 billion and US$335 million respectively in transaction volumes.

“Domestic investors are traditionally the most active buyers in Japan’s hotel market,” explained Mike Batchelor. “However, we are now witnessing international investors becoming increasingly active in Japan as market fundamentals continue to improve.

It remains one of the most attractive debt markets in the region. We expect a solid last quarter of 2017 in terms of investment activity.”

Of the Hong Kong deals, several transactions have potential for conversion into residential or office space. JLL reports that some hotel owners are considering converting their assets, given the strong demand for office space in the former UK territory.

“For investors, Hong Kong hotels are appealing because of the discounted rate per square foot when compared to other asset classes, something that has been a factor in some recent transactions. Properties such as J Plus Hotel have already been purchased for con-

Mike Batchelor

versation, likely into an office,” said Mike Batchelor, Head of Investment Sales Asia - JLL Hotels & Hospitality Group.

Japan has remained a stellar performer in terms of hotel investment since 2013

Thailand has experienced another active year, recording US$335 million in hotel transactions - the highest total volume recorded since 2014. JLL has acted as sole advisor on several hotel deals this year including the Premier Inn portfolio and Sukhumvit S27, selling for a combined US$111.5 million.

Interest in Thailand is being buoyed by a stable political environment and relative affordability of hotels compared to a number of other Asian countries.

Overall hotel investment volumes in Asia Pacific hit US$5.3 billion in the first nine months of the year, down 22 per cent year-on-year. In Q3 alone, sales activity reached US$1.2 billion across the region, with around US$1.5 to 2.0 billion in deals expected to close by year-end. A large component of this volume is expected to come via Japan.

A pupil at Regents International School Pattaya has won the Jet Ski Pro Tour 2017 Thailand Championships. Khun ‘Jet’ (pictured on the winner’s podium) is the youngest ever champion in the competition. She is currently studying in Year 13 at Regents.

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“We expect total year-end hotel investment volumes to reach between US$7.5 and US$8.0 billion across Asia Pacific, slightly down from US$8.6 billion recorded last year,” says Mr Batchelor. “There is likely to be a decline of around 10 per cent in 2017 due to the lack of hotels for sale in the market and a pricing gap between buyer and seller expectations.”

Member News

Phuket development lands top award for MontAzure

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he MontAzure property development in Phuket received the award for ‘Best Mixed Use Development’, as well as ‘Special Recognition in Sustainable Development’ in the recent Thailand Property Awards. The development was also highly commended in the ‘Best Universal Design Development’ category.

Twinpalms Residences MontAzure was highly commended in the ‘Best Condo Development (Phuket)’ category and this beachfront condominium project was recognised for ‘Best Low-Rise Condo Architectural Design (Resort)’.

Khun Setthaphol Boottho, Executive Director at MontAzure, said, “It’s very satisfying that independent profession-

al industry judges recognised MontAzure for the second year running as one of Thailand’s most outstanding developments. Our goal has always been to

set a new benchmark for mixed-use residential resorts in Asia, and with the right brands and partners on board we are certainly achieving this.”

Khun Pipat Kananuwat (left), Managing Director - Thailand & Laos of International SOS, presented a Duty of Care Award to Khun Somporn Vongvuthipornchai, President and Chief Executive Officer of PTT Exploration and Production. PTTEP won the runner-up award in the Communications category at the recent Duty of Care Awards.

The award recognises PTTEP’s outstanding engagement with employees; developing audiovisual media highlighting the potential medical and security risk that can impact upon PTTEP expatriates and business travellers, usage of medical and travel security assistance App and journey management protocols. Judges reviewed entries from more than 130 organisations in 32 countries representing 17 industries.

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Renovations almost complete at Swissotel Le Concorde

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transformative renovation project costing almost THB 42 million designed to ‘embody the trend toward contemporary design in the upscale hospitality sector’ is almost complete at the Swissôtel Le Concorde, Bangkok.

General Manager Bruno Rotschaedl said, “More than ever we now offer guests and locals a compelling choice for accommodation, show stopping events and innovative dining from a prime location.”

He explained that the comprehensive room refurbishments were at the core of the transformation of this well-established property into a thoroughly modern hotel with intuitive amenities, high-level comforts and a warmly welcoming atmosphere.

“The dramatically refurbished guest rooms make creative use of lustrous wood in interior design and subtle

Plakorn Wanglee

balances of colour and light that exude pure elegance,” he added.

seats more than 1,000 guests in a theatre-style setting.

The hotel’s expansive MICE facilities, embracing 23 banqueting and conference rooms, have also been renovated.

These include the ballroom which

Spa and leisure facilities have also been lavishly upgraded. More details at:www.swissotel.com/bangkokleconcorde.

Students from Traill International School attended the recent Asian Science Camp in Kuala Lumpur. The Camp was founded by two Nobel Laureates from Japan and Taiwan in 2005 ‘to promote the international friendship and cooperation among the best young students of the next generation in Asia’.

The event attracted young science students from schools and colleges from in 31 countries who collaborated on projects and attended workshops run by international scholars.

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Standard Chartered Thailand in retail banking switch

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tandard Chartered Bank in Thailand (SCBT) has completed the transfer of its retail banking business to TISCO Group in a move that is likely to disadvantage expatriate clients.

Thailand where we have been operating since 1894 and which remains a core part of the Bank’s regional strategy. Utilising our core strengths, namely our deep knowledge of our clients in Thailand, uniquely diversified and extensive network covering 69 countries including all 10 ASEAN markets, and our full corporate services, we are well placed to support our corporate clients’ growth in Thailand and expansion overseas.”

SCBT’s entire retail banking operations, embracing personal and business loans, mortgages, wealth management, retail deposits and credit cards are now under TISCO management. However, TISCO does not provide facilities for international banking transactions – prompting ex-pat clients to seek alternative arrangements.

Standard Chartered Thailand’s President and CEO Plakorn Wanglee said, “Standard Chartered Bank remains

Plakorn Wanglee

committed to serving commercial, corporate and institutional clients in

TISCO Group CEO Suthas Ruangmanamongkol said, “We would like to thank clients for their support and understanding of any inconvenience during the past several months. TISCO is ready and committed to serving our retail banking clients to fulfil their financial needs.”

Bangkok’s commercial property markets favours developers

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ffice space leased in Bangkok during Q2 2017 fell some 37.1 percent compared to the previous quarter. That’s according to Marcus Burtenshaw, Executive Director and Head of Commercial Agency Department at Knight Frank Thailand.

He said, “Tenants in Bangkok’s office market are faced with a problem. The market still favours the developer. Ten-

ants face increased rents upon renewal and few relocation prospects offer competitive terms for comparable quality and location. Now, more than ever, it pays to look ahead. We urge tenants to conduct a thorough analysis of their office accommodation strategy at least one year before their lease expires, and even longer if their scale demands it, or if regional or global corporate real estate departments are involved.”

Office supply in Q2 2017 stood at 4,877,670 square metres. New office buildings this year include Gaysorn Office Tower (32,312 sq.m) and Bhiraj Tower at BITEC (31,880 sq.m).

The majority of new buildings within the next three years will be located in areas considered to be non-CBD but they are rapidly emerging to become new commercial districts.

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Malt plant cleared for exports

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he Jebsen & Jessen malted ingredients plant in Thailand has cleared all certification audits required to export to customers across south east Asia. This opens the door for companies to enter the region’s malted drinks and foods market.

The facility is a joint venture with Muntons PLC. The US$17.5 million plant is designed to produce 7,000 tonnes annually of custom malted formulations, allowing SMEs to compete with industry giants.

JJ-Muntons has received the HACCP, GMP and Halal certifications. Following advanced trials and early production runs the company is seeing several different flavours of malted chocolate powder and malted milk powder taken up in large quantities by customers keen to enter the market.

Crunchy formulations are also attractive for companies looking to develop customised recipes.

Recipe for success brings good news for these malt plant employees

(JSCCIB) and APEC Business Advisory Council (ABAC). The event, with the topic ‘Trade & Supply Chain Finance’, took place at the Dusit Thani hotel, Bangkok.

Chartsiri Sophonpanich, President of Bangkok Bank PCL., was guest of honour at Asia-Pacific

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Financial Forum (APFF) organised by the Joint Standing Committee on Commerce, Industry and Banking

Pictured from left to right: BoonHiong Chan, Sherpa - APFF Trade & Supply Chain Finance and Head of Market Advocacy, GTB Deutsche Bank AG Singapore; Phairush Burapachaisri - Vice Chairman of the Thai Chamber of Commerce; Kalin Sarasin Chairman of JSCCIB Thailand; Chartsiri Sophonpanich; Daphne Ng, Chief Executive Officer of Jedtrade; Montri Mahaplerkpong Vice Chairman of the Federation of Thai Industries and Matt Gamser, Chief Executive Officer - SME Finance Forum, International Finance Cooperation.

Member News

Chef Roberto sets alight Scalini dining experience

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calini restaurant’s new Chef de Cuisine Roberto Pinna has launched a ‘Light my Fire’ interactive dining experience. Roberto, 29, who joined Scalini from the Shangri-La Hotel Tanjug Aru Sabah, has created à la carte dishes that are prepared at guests’ tables using a combination of fire, smoke and ice.

“The ‘Light my Fire’ cooking show involves close-up interactions between our guests and the chefs and service staff at the dining table. We aim to provide an entertaining and truly mouth-watering experience for every diner,” explains Roberto.

“We play the famous pop song ‘Light my Fire’, from the 1960s, during the preparation of dishes such as Manzo where we flambé in Grappa a 10 oz. beef tenderloin from Australia and then serve with smoked eggplant and fire-roasted potatoes.”

New Chef Roberto Pinna (left) with Hilton Sukhumvit Bangkok General Manager Ian Barrow.

Roberto’s new à la carte dinner menu reflects his international culinary experience gained from working in restaurants in Antigua, Dublin, Verbier, Kuwait and his home island of Sardinia. Scalini is located on the first

floor of the Hilton Sukhumvit Bangkok hotel.

For more information, visit www.sukhumvitbangkok.hilton.com or call: 02 620 6666.

Greg returns to Thailand for flagship hotel role

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reg Liddell is the new General Manager of the Mandarin Oriental hotel in Bangkok.

He returns to Thailand to take the helm of the group’s flagship property having previously served from 2009 to 2012 as General Manager of the Mandarin Oriental Dhara Dhevi in Chiang Mai. Prior to joining the Mandarin Oriental Hotel Group Greg Liddell, an Australian national, held various senior hospitality management posi-

tions including General Manager of Aman Resorts, and Group General Manager of Karma Resorts where he was responsible for resorts in Bali and Koh Samui.

“With many years of valuable experience in key locations, coupled with his undoubted commitment to legendary service, Greg is well positioned for his important new role in Bangkok”, said Richard Baker, MOHG’s Executive Vice President, Operations – Asia.

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New MICE portal aids event planners T he rolling launch of meetinthailand.com, the interactive online portal for the meetings, incentives, conventions and exhibitions (MICE) industry, has been completed.

According to Grenville Fordham, founder and Managing Director of Image Asia Events (IMAGE asia) - the company behind meetinthailand.com the website hosts detailed business profiles of several hundred MICE suppliers including hotels with MICE facilities, exhibition/convention centres, DMCs, tour operators, event organisers and restaurants spread across Thailand.

The next phase of development is to encourage more hotels, venues and other suppliers to upgrade their

profiles to include more detailed information, multimedia products and brochures while ramping up the promotion to MICE buyers using a combination of industry targeted marketing and SEO tools.

“Our objective is to gives venues and suppliers in Thailand’s MICE and weddings industries an opportunity to showcase their offerings in a detailed, searchable, multimedia environment, which they can access and update themselves using comprehensive, secure back end tools,” said Vogt, adding, “For buyers in these industries, meetinthailand.com represents a unique opportunity to preselect venues and other event suppliers – based on easily accessible, hard information.”

Markus Vogt, IMAGE asia’s Business Development Manager, said, “This comprehensive website is not just about providing information, although it does that in a big way.”

“I’ve seen event buyers waste time and money on inspection trips to Thailand, armed with inadequate information,” added Grenville Fordham. “The fundamental proposition of meetinthailand.com is that no buyer should need to travel to Thailand on an inspection trip without a meaningful shortlist of venues, suppliers and opportunities preselected on the basis of comprehensive, upto-date information – and with a file of real time quotations/proposals in hand.”

International awards for Anantara Siam

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he Anantara Siam Bangkok Hotel has received several awards and accolades in 2017 including a top three listing in the ‘Best Hotels In Bangkok’ chosen by readers of Condé Nast Traveler magazine.

The hotel’s spa has also been recognised by the Haute Grandeur Global Hotel and Spa Awards, achieving top spot in the awards for ‘Best Hotel Service in Asia’ and ‘Best City Hotel in Thailand’.

The Luxury Travel Guide Awards, which recognise and celebrate excellence across all sectors of the affluent travel and tourism industry, declared Anantara Siam Bangkok Hotel as the ‘Grand Luxury Hotel of the Year – Bangkok’.

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Anantara Siam hotel, Bangkok

Member News

Royal Cliff sets record with latest Hall of Fame award

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he Royal Cliff Hotels Group received its 11th Hall of Fame accolade at the recent annual TTG Travel Awards. The award was created in 2002 to mark the region’s most exclusive and outstanding organisations.

“We are delighted to receive our 11th TTG Travel Hall of Fame Award,” said Vitanart Vathanakul, Executive Director of Royal Cliff Hotels Group. “We have always sought to create extraordinary experiences for our guests and it is very rewarding for us to know that our efforts continue to receive international recognition from the very best in the industry. This award speaks

guests’ needs and going beyond their expectations. We remain committed to live up to our leading position in the hospitality business and give our guests all the best that they deserve.”

The Group has also received 2017 TripAdvisor Certificate of Excellences for the Royal Cliff Grand Hotel, Royal Cliff Beach Hotel, Royal Cliff Beach Terrace and the Royal Wing Suites and Spa.

volumes to our strong culture of service as well as our team’s dedication and tireless efforts in anticipating our

The Certificate of Excellence scheme recognises establishments that consistently generate positive reviews on TripAdvisor from business and leisure travellers.

Staff and management team members at Knight Frank Thailand, led by Managing Director Phanom Kanjanathiemthao, donated blood to the Thai Red Cross as part of the programme to make merit for the late King Bhumibol Adulyadej.

The Regent’s International School Bangkok has been hosting exchange students from Australia and Japan. Girls from Scotch Oakburn School in Tasmania, St. Phillip’s College, Alice Springs in Australia and Hakuho Girls High-School in Hokkaido, Japan have been experiencing life at school in Thailand.

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HSBC appoints new Head of Global Markets

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SBC has appointed Khun Sudaphan Thaveethamsathit as Head of Global Markets for Thailand. Miss Sudaphan succeeds Guy Dickinson who is taking up a new post as HSBC’s Head of Global Markets for Australia.

With over two decades of experience in financial markets Sudaphan Thaveethamsathit is responsible for developing HSBC’s Global Markets business in Thailand, providing clients with trading and sales services that help them to age risk and capture investment opportunities in asset

classes such as foreign exchange, fixed income and interest rates.

She joined HSBC in 2000 as Deputy Head of Corporate Marketing and Sales for Thailand, overseeing the Corporate Sales team and managing its relationships with corporate clients across sectors. In 2011, she became Head of Global Markets Corporate Services for Thailand.

Khun Sudaphan obtained a postgraduate degree in Business Administration from the University of Birmingham in the United Kingdom.

The Ramada Plaza Bangkok Menam Riverside hotel has again achieved status as one of the ‘best recommended hotels’ on HolidayCheck and Hotels.com.

“I would like to thank all our guests who took time to complete a review on the HolidayCheck and Hotels.com portal based on their experience of the hotel. There is no greater distinction than receiving the sense of approval from your customers,” said General Manager Willem Pentermann (pictured 4th from right).

Alexander Sheppard has been appointed Hotel Manager for the Banyan Tree hotel in Bangkok. His previous experience working for luxury hotel brands in Egypt, Indonesia, Australia and the United States over the past 20 years. His most recent assignment prior to joining the Banyan Tree Group was with the Dusit Thani Lakeview Cairo, Egypt as Executive Assistant Manager.

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Ascott winners Five Ascott properties in Bangkok have been recognised with 2017 TripAdvisor Certificates of Excellence. The certificates are presented based upon guest reviews posted on the TripAdvisor website over the previous 12 months. The five properties achieving this success are the Ascott Sathorn, Somerset Lake Point, Somerset Sukhumvit Thonglor, Citadines Sukhumvit 16 and Citadines Sukhumvit 23.

Dataconsult

Chamber Events

By the Numbers

P

Chris Bruton Director, Dataconsult Ltd.

rospects for the Thai economy have brightened in recent months, raising the October GDP forecasts from the Fiscal Policy Office to a range of 3.6% to 4.0%, or an average of 3.8%, with a similar projection for 2018. The International Monetary Fund (IMF) is slightly less optimistic, with a forecast GDP of 3.7% for 2017 followed by declining GDP growth rates from 3.5% in 2018 down to 3.0% in 2021 and 2022.

Dataconsult’s regional IMA forecast for Thailand GDP growth is even more optimistic, reaching 4.0% in both 2017 and 2018. The reasons for this optimism arise from stronger than expected export performance alongside a steady recovery in domestic demand. There are also likely to be increases in public spending, especially in 2018 as the proposed election approaches. Domestic demand growth is likely to strengthen from 2.8% in 2016 to 3.0% in 2017 and could even reach 4.7% in 2018.

The year 2018 will not be without concerns and uncertainties, of which the most evident will be the timing of the election.

This has been a moving target ever since the May 2014 coup which rejected the previous erratic but popularly elected government under Yingluck Shinawatra and the Pheu Thai political party. Promised as a transitional reform government with a principal task of producing yet another

Table 1: Economic Projections for 2016 and 2017 2016

2017f (as of October 2017) Average

Range

2018f (as of October 2017) Average

Range

MAJOR ASSUMPTIONS Exogenous Variables Average Economic Growth of Major Trading Partners (percent y-o-y)

3.63

3.72

3.47 to 3.97

3.59

3.09 to 4.09

Dubai Crude Oil Price (USD/bbl)

41.2

51.8

48.8 to 54.8

53.0

48.00 to 58.00

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

-0.4

3.3

2.8 to 3.8

2.0

1.00 to 3.00

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

-2.7

5.3

4.8 to 5.8

2.4

1.40 to 3.40

Exchange Rate (Baht per U.S. dollar)

35.30

34.00

33.50 to 34.50

33.50

32.50 to 34.50

Repurchase Rate (Policy Rate) at year-end (percent y-o-y)

1.50

1.50

1.25 to 1.75

1.50

1.00 to 2.00

Fiscal-Year Public Expenditure (Trillion Baht)

3.39

3.55

3.53 to 3.57

3.82

3.78 to 3.86

Number of International tourists (million persons)

32.6

35.8

35.3 to 36.3

38.7

37.70 to 39.70

3.2

3.8

3.6 to 4.0

3.8

3.3 to 4.3

Policy Variables

PROJECTIONS Economic Growth Rate (percent y-o-y) Real Consumption Growth (percent y-o-y) - Real Private Consumption - Real Public Consumption Real Investment Growth (percent y-o-y)

3.1

3.3

3.1 to 3.5

3.4

2.9 to 3.9

1.7

2.4

2.2 to 2.6

2.6

2.1 to 3.1

- Real Private Investment

0.4

2.8

2.6 to 3.0

3.4

2.9 to 3.9

- Real Public Investment

9.9

4.3

4.1 to 4.5

11.9

11.4 to 12.4

Export Volume of Goods and Services (percent y-o-y)

2.1

6.0

5.8 to 6.2

4.0

3.5 to 4.5

Import Volume of Goods and Services (percent y-o-y)

-1.4

6.9

6.7 to 7.1

5.4

4.9 to 5.9

Trade Balance (billion U.S. dollar)

26.7 to 27.7

36.5

29.9

29.7 to 30.1

27.2

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

0.1

8.5

8.3 to 8.7

5.7

5.2 to 6.2

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

-5.1

14.0

13.8 to 14.2

7.9

7.4 to 8.4 41.9 to 42.9

Current Account (billion U.S. dollar)

47.7

43.0

42.8 to 43.2

42.4

11.7

9.7

9.5 to 9.9

8.8

8.3 to 9.3

Headline Inflation (percent y-o-y)

0.2

0.7

0.5 to 0.9

1.4

0.9 to 1.9

Core Inflation (percent y-o-y)

0.7

0.6

0.4 to 0.8

0.9

0.4 to 1.4

- Percentage of GDP

Source: Fiscal Policy Office, Ministry of Finance

constitution, the military government could yet achieve a life-span of close to five years. Furthermore a legislated 20-year development strategy has in effect extended the military government longevity to a quarter century. While this prospect is viewed favourably by some including many major Thai and international businesses, it is viewed with dismay by most politicians and many prospective electoral voters.

Likewise the performance of the government has also been variously interpreted. International analysts have tended to stress stability and a developmentoriented approach by the government.

This includes the “Section 44” strategy to by-pass legislative safeguards. However many others have suggested that there is less evidence of decisive action than of pure rhetoric.

The coming years 2018/2019 will be decisive. With a view to enhancing its reputation for effective government backed by enhanced governance, the current administration has inaugurated its much-vaunted Eastern Economic Corridor project. This, together with transport and other infrastructure projects, aims to turn Thailand not only into an economic and technical powerhouse, but also a regional hub for a wide range of sectors. Realisation of these ambitious plans will depend largely on credibility among both Western corporate investors and, particularly, Chinese public and private sector investors. The main challenge will be availability and quality of human resources. The educational system is still poor by international standards despite heavy budgetary inputs. There is an inadequate stock of skilled operatives, and the population is ageing.

However the Thailand economy does show promising signs of recovery. Some sectors are enjoying boom times, notably the tourism industry. Overall, Thailand would do well to emphasize some of its greatest traditional strengths, notably in modernising the agricultural sector, rather than over-stressing high technology, for which the country is ill-prepared.

Table 2: Gross Domestic Product at current price (total value) (countries ranked by 2017 size) Country China United Kingdom India Indonesia Thailand Philippines Malaysia Singapore Vietnam Myanmar Cambodia Lao Brunei

(US$ billion)

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

7,522.1 2,611.1 1,823.1 892.6 370.8 224.1 298.0 275.6 134.6 60.0 12.8 9.0

8,570.3 2,655.5 1,827.6 919.0 397.6 250.1 314.4 289.2 155.6 59.7 14.0 10.2

9,635.0 2,721.5 1,856.7 916.6 420.5 271.8 323.3 302.5 170.6 60.1 15.2 12.0

10,534.5 3,002.4 2,035.4 891.1 406.5 284.6 338.1 308.2 185.9 65.6 16.7 13.3

11,226.2 2,863.3 2,089.9 861.1 399.2 292.8 296.4 296.8 191.5 59.5 18.2 14.4

11,232.1 2,629.2 2,263.8 932.4 407.1 304.9 296.5 297.0 201.3 64.4 20.2 15.8

11,937.6 2,565.1 2,439.0 1,010.9 437.8 321.2 309.9 305.8 216.0 67.0 22.3 17.2

13,118.7 2,661.2 2,654.2 1,092.1 466.6 357.8 340.9 316.9 234.7 74.0 24.3 18.7

14,243.4 2,730.7 2,926.2 1,179.9 498.2 397.7 376.7 328.4 255.7 82.2 26.6 20.4

15,551.9 2,803.8 3,224.9 1,290.8 527.1 442.0 415.0 340.4 277.8 91.2 28.9 22.4

16,926.4 2,879.8 3,556.6 1,433.5 555.9 491.4 457.2 352.8 301.4 101.0 31.5 24.4

18,382.7 2,960.8 3,923.8 1,580.1 524.1 543.4 500.0 365.6 326.9 111.4 34.2 26.6

18.5

19.0

18.1

17.1

12.9

11.4

12.0

12.0

12.8

13.8

15.3

16.3

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Issue 4/2017

53

Table 3: Gross Domestic Product at constant prices (growth) (countries ranked by 2017 size) Country Myanmar Cambodia Lao China India Philippines Vietnam Malaysia Indonesia Thailand Singapore United Kingdom Brunei

2011 5.6 7.2 8.0 9.5 6.6 3.7 6.2 5.3 6.2 0.8 6.2 1.5 3.7

2012 7.3 7.3 7.8 7.9 5.5 6.7 5.2 5.5 6.0 7.2 3.9 1.3 0.9

2013 8.4 7.4 8.0 7.8 6.4 7.1 5.4 4.7 5.6 2.7 5.0 1.9 -2.1

2014 8.0 7.1 7.6 7.3 7.5 6.1 6.0 6.0 5.0 0.9 3.6 3.1 -2.5

2015 7.0 7.2 7.3 6.9 8.0 6.1 6.7 5.0 4.9 2.9 1.9 2.2 -0.4

2016 6.1 7.0 7.0 6.7 7.1 6.9 6.2 4.2 5.0 3.2 2.0 1.8 -2.5

(Percentage change year-on-year)

2017 7.2 6.9 6.9 6.8 6.7 6.6 6.3 5.4 5.2 3.7 2.5 1.7 -1.3

2018 7.6 6.8 6.9 6.5 7.4 6.7 6.3 4.8 5.3 3.5 2.6 1.5 0.6

2019 7.5 6.8 7.1 6.3 7.8 6.8 6.2 4.8 5.5 3.4 2.6 1.6 8.7

2020 7.5 6.5 7.1 6.2 7.9 6.8 6.2 4.9 5.5 3.1 2.6 1.7 8.9

2017 53,880.1 38,846.8 27,893.4 9,659.9 8,582.9 6,336.3 3,858.7 3,022.4 2,567.5 2,306.2 1,852.1 1,389.6 1,272.0

2018 55,231.4 40,026.5 27,601.2 10,489.6 9,377.0 6,744.8 4,116.4 3,300.9 2,755.8 2,481.5 1,989.3 1,495.6 1,395.8

2019 56,679.2 40,800.5 29,152.1 11,441.8 10,121.3 7,194.0 4,391.5 3,596.8 2,974.1 2,677.3 2,164.7 1,610.4 1,539.5

2020 58,229.0 41,624.1 31,007.3 12,447.7 10,986.5 7,605.9 4,744.1 3,919.6 3,207.3 2,881.4 2,354.7 1,728.7 1,697.0

2021 59,877.0 42,486.2 34,021.8 13,539.8 11,887.5 8,016.3 5,202.2 4,271.9 3,447.1 3,096.8 2,563.2 1,852.8 1,868.3

2017 18.3 7.5 2.6 2.3 1.0 0.7 0.7 0.5 0.4 0.3 0.1 0.0 0.0

2018 18.8 7.7 2.6 2.2 1.0 0.7 0.7 0.5 0.4 0.3 0.1 0.0 0.0

2019 19.2 8.0 2.6 2.2 1.0 0.7 0.7 0.5 0.4 0.3 0.1 0.0 0.0

2020 19.7 8.4 2.7 2.1 1.0 0.8 0.8 0.5 0.4 0.3 0.1 0.0 0.0

2021 20.1 8.7 2.7 2.1 1.0 0.8 0.8 0.6 0.4 0.3 0.1 0.0 0.0

2017 6.5 4.4 4.0 3.8 3.8 3.7 3.1 2.6 2.3 1.8 0.9 0.6 -0.2

2018 6.1 4.0 3.9 4.9 2.9 3.5 3.0 2.6 2.7 2.4 1.3 1.0 0.0

2019 6.5 4.0 3.7 4.8 3.0 3.3 3.0 2.2 3.1 2.5 1.6 1.6 0.1

2020 6.4 4.0 3.8 4.9 3.0 3.2 3.0 2.1 3.3 2.6 1.9 2.0 0.2

2016 111.5 89.3 69.6 58.9 60.7 56.2 44.3 42.2 36.7 36.4 34.6 27.9 3.0

2017 110.6 89.5 68.7 62.0 61.5 55.2 47.6 40.6 37.9 36.8 33.9 28.7 2.8

2018 109.2 89.7 67.1 64.7 63.6 54.2 50.8 39.6 38.4 37.0 33.2 29.2 2.9

2019 107.8 88.9 65.2 66.0 64.0 52.8 53.9 38.9 38.6 37.2 32.6 29.8 2.7

2020 106.3 87.6 63.3 66.6 64.4 51.1 57.0 38.4 38.9 37.3 32.0 29.8 2.5

2016 19.0 11.5 9.6 2.4 1.7 4.1 0.2 -0.7 -1.8 -4.4 -5.9 -8.8 -10.6

2017 19.6 10.1 4.8 2.4 1.4 1.3 -0.1 -1.4 -1.7 -3.6 -6.6 -8.6 -9.6

2018 19.5 8.1 -2.1 2.2 1.2 1.4 -0.3 -1.5 -1.8 -3.3 -6.6 -8.6 -10.9

2019 18.8 6.1 9.0 1.9 0.9 0.9 -0.5 -1.6 -1.8 -2.9 -6.6 -8.5 -9.6

2020 18.3 4.4 14.4 1.8 0.7 0.5 -0.7 -1.8 -1.9 -2.8 -6.5 -8.4 -7.4

Table 4: Gross Domestic Product per capita (countries ranked by 2017 size) Country Singapore United Kingdom Brunei Malaysia China Thailand Indonesia Philippines Lao Vietnam India Cambodia Myanmar

2011 53,167.7 41,259.5 47,092.3 10,252.6 5,582.9 5,482.4 3,688.5 2,379.9 1,463.5 1,532.3 1,497.7 877.6 1,196.9

2012 54,432.2 41,683.7 47,640.8 10,655.5 6,329.5 5,850.3 3,744.5 2,591.6 1,640.9 1,751.7 1,481.6 945.2 1,181.9

2013 56,028.8 42,452.9 44,540.2 10,699.7 7,080.8 6,157.4 3,684.0 2,768.9 1,900.0 1,900.2 1,485.6 1,010.8 1,179.6

2014 56,338.3 46,478.8 41,509.3 11,008.9 7,701.7 5,921.1 3,533.6 2,841.9 2,075.1 2,049.0 1,607.4 1,091.5 1,275.3

2015 53,628.8 43,976.4 30,995.0 9,505.3 8,166.8 5,799.2 3,370.9 2,866.4 2,212.4 2,087.5 1,629.0 1,167.7 1,147.3

2016 52,960.6 40,049.8 26,935.1 9,374.1 8,123.3 5,901.7 3,604.3 2,926.6 2,394.4 2,171.8 1,741.7 1,277.7 1,231.8

2021 7.5 6.3 7.0 6.0 8.1 6.8 6.2 4.9 5.5 3.0 2.6 1.7 11.2

(Current prices US$)

Table 5: GDP Purchasing-power-parity per capita (countries ranked by 2017 size) Country China India Indonesia United Kingdom Thailand Malaysia Philippines Vietnam Singapore Myanmar Cambodia Brunei Lao

2011 14.6 6.1 2.3 2.5 1.0 0.7 0.6 0.4 0.4 0.2 0.0 0.0 0.0

2012 15.3 6.2 2.4 2.4 1.0 0.7 0.6 0.4 0.4 0.2 0.0 0.0 0.0

2013 15.9 6.4 2.4 2.4 1.0 0.7 0.6 0.5 0.4 0.2 0.0 0.0 0.0

2014 16.5 6.7 2.4 2.4 1.0 0.7 0.6 0.5 0.4 0.2 0.0 0.0 0.0

2015 17.1 7.0 2.5 2.3 1.0 0.7 0.6 0.5 0.4 0.2 0.0 0.0 0.0

2016 17.7 7.2 2.5 2.3 1.0 0.7 0.7 0.5 0.4 0.3 0.0 0.0 0.0

2011 2.8 18.7 5.3 9.5 3.2 5.5 4.7 4.5 7.6 5.4 5.2 3.8 0.1

2012 2.8 9.1 4.0 10.0 1.7 2.9 3.2 2.8 4.3 2.6 4.6 3.0 0.1

2013 5.7 6.6 6.4 9.4 2.1 3.0 2.9 2.6 6.4 2.6 2.4 2.2 0.4

2014 5.1 4.1 6.4 5.8 3.1 3.9 4.2 1.5 4.1 2.0 1.0 1.9 -0.2

2015 10.0 0.6 6.4 4.9 2.1 1.2 1.4 0.0 1.3 1.4 -0.5 -0.9 -0.4

2016 6.8 2.7 3.5 4.5 2.1 3.0 1.8 0.7 2.0 2.0 -0.5 0.2 -0.7

2011 101.0 81.6 69.6 50.8 45.8 52.6 33.6 39.1 34.9 46.1 41.4 23.1 2.1

2012 105.7 85.1 69.1 55.2 47.9 54.6 34.3 41.9 34.7 40.7 40.6 23.0 2.1

2013 102.2 86.2 68.5 54.3 51.8 56.4 37.0 42.2 35.4 33.2 39.3 24.8 2.2

2014 97.9 88.1 68.5 58.4 55.1 56.2 39.9 43.4 34.1 29.9 36.4 24.7 3.2

2015 103.2 89.0 69.5 57.6 57.3 57.9 41.1 42.7 35.8 34.9 36.2 26.9 3.0

2011 22.1 2.5 34.7 10.9 1.8 0.2 2.5 -4.2 0.2 -1.8 -1.8 -5.9 -14.3

2012 17.4 -0.4 29.8 5.2 2.5 6.0 2.8 -4.8 -2.7 -3.7 -4.0 -8.2 -24.9

2013 16.9 -1.2 20.9 3.5 1.5 4.5 4.2 -1.7 -3.2 -4.4 -4.9 -13.0 -26.7

2014 19.7 3.7 30.7 4.4 2.2 4.9 3.8 -1.3 -3.1 -4.7 -3.3 -9.8 -18.3

Table 2-8 Source: World Economic Outlook Database, October 2017

54

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Issue 4/2017

2015 18.1 8.1 16.0 3.0 2.7 -0.1 2.5 -1.1 -2.0 -4.3 -5.2 -9.3 -16.5

2021 6.3 4.0 3.6 5.0 3.0 3.1 3.0 2.0 3.1 2.6 1.9 2.3 0.1

2022 5.7 4.0 3.5 5.0 3.0 3.0 3.0 2.0 3.1 2.6 1.9 2.5 0.2

(Percentage of GDP)

Table 8: Current Account Balance (countries ranked by 2017 size) Country Singapore Thailand Brunei Malaysia China Vietnam Philippines India Indonesia United Kingdom Myanmar Cambodia Lao

2022 20.5 9.1 2.8 2.1 0.9 0.8 0.8 0.6 0.4 0.3 0.1 0.0 0.0

(Percentage change year-on-year)

Table 7: General Government Gross Debt (countries ranked by 2017 size) Country Singapore United Kingdom India Lao Vietnam Malaysia China Thailand Cambodia Myanmar Philippines Indonesia Brunei

2022 61,623.9 43,411.9 35,818.9 14,621.9 12,834.7 7,555.2 5,662.4 4,631.6 3,703.8 3,329.2 2,791.1 1,979.7 2,048.6

(Percent)

Table 6: Inflation: average consumer prices (countries ranked by 2017 size) Country Myanmar Vietnam Indonesia India Malaysia Cambodia Philippines United Kingdom Lao China Singapore Thailand Brunei

2022 7.5 6.0 7.0 5.8 8.2 6.8 6.2 4.9 5.5 3.0 2.6 1.7 5.3

2021 104.9 86.7 61.4 66.8 64.6 49.0 59.7 38.3 39.9 37.5 31.5 30.0 2.2

2022 103.4 85.6 59.6 66.7 64.7 46.5 62.2 38.2 40.4 37.7 31.1 30.0 2.0

(Percentage of GDP) 2021 17.8 3.0 13.4 1.8 0.4 0.3 -0.9 -2.0 -1.9 -2.7 -6.4 -8.3 -5.9

2022 16.9 2.9 14.1 1.8 0.2 0.0 -1.0 -2.4 -1.9 -2.5 -6.4 -8.0 -4.8

Table 9: Population ASEAN+2 (countries ranked by 2017 size) Country China India Indonesia Philippines Vietnam Thailand United Kingdom Myanmar Malaysia Cambodia Lao Singapore Brunei

2011 1,347.4 1,217.2 242.0 94.2 87.8 67.6 63.3 50.1 29.1 14.6 6.1 5.2 0.4

2012 1,354.0 1,233.6 245.4 96.5 88.8 68.0 63.7 50.5 29.5 14.9 6.2 5.3 0.4

2013 1,360.7 1,249.8 248.8 98.2 89.8 68.3 64.1 51.0 30.2 15.1 6.3 5.4 0.4

2014 1,367.8 1,266.3 252.2 100.1 90.7 68.7 64.6 51.4 30.7 15.3 6.4 5.5 0.4

(Million persons)

2015 1,374.6 1,282.9 255.5 102.1 91.7 68.8 65.1 51.8 31.2 15.5 6.5 5.5 0.4

2016 1,382.7 1,299.8 258.7 104.2 92.7 69.0 65.6 52.3 31.6 15.8 6.6 5.6 0.4

2017 1,390.8 1,316.9 262.0 106.3 93.6 69.1 66.0 52.6 32.1 16.0 6.7 5.7 0.4

2018 1,399.0 1,334.2 265.3 108.4 94.6 69.2 66.5 53.0 32.5 16.3 6.8 5.7 0.4

2019 1,407.3 1,351.8 268.7 110.6 95.5 69.3 66.9 53.4 32.9 16.5 6.9 5.8 0.4

2020 1,415.5 1,369.6 272.1 112.8 96.4 69.3 67.4 53.7 33.3 16.7 7.0 5.8 0.4

2021 1,423.9 1,387.6 275.6 115.0 97.3 69.3 67.8 54.1 33.8 17.0 7.1 5.9 0.5

2022 1,432.3 1,405.8 279.0 117.3 98.2 69.4 68.2 54.4 34.2 17.3 7.2 5.9 0.5

Source: World Economic Outlook Database, October 2017

Table 10: World Bank: Ease of Doing Business Survey 2018 Economy

Ease of Doing Business Rank 2016

Starting a Business

Dealing with Construction Permits

2017

(Ranking based on 190 countries)

Getting Electricity

Registering Property

Protecting Minority Investors

Getting Credit

Trading Across Borders

Paying Taxes

Enforcing Contracts

Resolving Insolvency 27

Singapore

1

2

6

16

12

19

29

4

7

42

2

United States

7

6

49

36

49

37

2

42

36

36

16

3

United Kingdom

6

7

14

14

9

47

29

10

23

28

31

14

Australia

13

14

7

6

47

51

6

57

26

95

3

18

Malaysia

18

24

111

11

8

42

20

4

73

61

44

46

Thailand

49

26

36

43

13

68

42

16

67

57

34

26

Netherlands

28

32

20

76

52

30

105

62

20

1

69

8

Brunei

84

56

58

48

24

136

2

40

104

144

61

60

Vietnam

90

68

123

20

64

63

29

81

86

94

66

129

Indonesia

109

72

144

108

38

106

55

43

114

112

145

38

China

84

78

93

172

98

41

68

119

130

97

5

56

India

130

100

156

181

29

154

29

4

119

146

164

103

Philippines

103

113

173

101

31

114

142

146

105

99

149

59

Cambodia

127

135

183

179

137

123

20

108

136

108

179

74

Lao PDR

134

141

164

40

149

65

77

172

156

124

97

168

Myanmar

167

171

155

73

151

134

177

183

125

163

188

164

Source: World Bank Group, June 2017

Table 11: Foreign Direct Investment Inflows and Outflows 2011- 2016 Country United Kingdom SE Asia total Singapore Vietnam Malaysia Philippines Indonesia Myanmar Cambodia Thailand Laos Timor-Leste Brunei

(Million US Dollars)

FDI inflows

FDI outflows

2011 42,200 94,866 49,156 7,519 12,198 1,852 19,241 1,118 1,373 1,370 301 47

2012 55,446 108,095 56,236 8,368 9,239 2,449 19,138 497 1,835 9,135 294 39

2013 51,676 126,148 64,685 8,900 12,115 2,430 18,817 584 1,872 15,493 427 50

2014 44,821 130,428 73,987 9,200 10,877 5,740 21,811 946 1,720 4,809 721 49

2015 33,033 126,639 70,579 11,800 11,121 4,937 16,641 2,824 1,701 5,700 1,119 43

2016 253,826 101,099 61,597 12,600 9,926 7,912 2,658 2,190 1,916 1,554 890 5

2011 95,587 61,857 31,371 950 15,249 339 7,713 29 6,072 0.4 -33

2012 20,700 56,515 19,443 1,200 17,143 1,692 5,422 36 10,497 0.1 13

2013 40,484 81,910 43,597 1,956 14,107 3,647 6,647 46 11,679 1 13

2014 -148,303 88,744 52,217 1,150 16,369 6,754 7,077 43 5,575 2 13

2015 -82,138 55,689 31,405 1,100 9,899 5,540 5,937 47 1,687 2 13

2016 -12,614 35,418 23,888 1,388 5,601 3,698 -12,463 121 13,229 2 13

691

865

776

568

173

-150

166

1,070

218

-456

58

-60

Source: UNCTAD, World Investment Report 2017

Table 12: Foreign Direct Investment Stocks: inward and outward (2012, 2013, 2014, 2015, 2016) Southeast Asia (Million US Dollars) FDI Inwards Stock

Country United Kingdom SE Asia total Brunei Cambodia Indonesia Laos Malaysia Myanmar Philippines Singapore Thailand Timor-Leste Vietnam

FDI Outwards Stock

2012 1,321,352 1,319,479 13,302 8,413 205,656 2,483 132,400 11,910 31,027 682,396 159,125 237

2013 1,605,522 1,553,205 14,212 9,399 230,344 2,779 144,705 14,171 32,547 837,652 185,463 230

2014 1,662,858 1,687,452 6,219 13,035 253,082 3,630 133,767 17,652 57,093 912,355 199,311 316

2015 1,457,408 1,704,891 6,061 14,739 224,843 4,850 117,644 20,476 59,303 978,411 175,442 332

2016 1,196,520 1,872,239 5,739 16,656 234,961 5,639 121,621 22,666 64,249 1,096,320 188,651 346

2012 1,808,167 596,075 699 423 11,627 9 120,396 8,953 401,426 52,561 -

2013 1,884,819 720,413 134 465 16,070 14 133,996 13,191 497,880 58,610 83

2014 1,584,147 845,669 134 484 24,052 135,685 35,603 576,396 65,769 86

2015 1,538,133 913,349 2645 531 30,171 16 136,892 41,100 625,259 68,058 86

2016 1,443,936 1,012,808 2,803 652 58,890 19 126,937 45,377 682,404 85,636 112

72,530

81,702

90,991

102,791

115,391

-

-

7,490

8,590

9,978

Source: UNCTAD, World Investment Report 2017

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Chamber Events

Ploenchit Fair 2017 The British Community came together once more to help those in Thailand less fortunate than themselves as Ploenchit Fair returned to Bangkok Patana School on Saturday 25th November. Once again the BCCT office team, board directors and friends ran the Grand Raffle with prizes as extravagant as ever, including holidays to London and other destinations.

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Thank you to our sponsors.

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Chamber Events

BCCT T3 Business Networking BCCT T3 Business Networking was held on Thursday 21st September at the Garden Villa of our kind host, The Sukhothai Bangkok.

Guests enjoyed exquisite Thai and international menu offered along with great beer and wine. Big thanks to our general sponsor, Mazars, for the support making this a great event.

Picture from left, Simon Matthews BCCT Chairman, Thomas Schmitt-Glaeser The Sukhothai Bangkok General Manager, Blake Dimsdale MAZARS Partner and Chris Thatcher BCCT Vice-Chairman.

The Sukhothai Hotel Garden Villa was an excellent venue for the popular T3 Business Networking event in September.

Boardroom Briefing: What is IoT?

Merit-Making to King Rama IX

BCCT Boardroom Briefing: What is IoT? (Internet of Things) was held on Wednesday 20th September at the British Business Centre. Paul Phenix, BCCT Digital Technology Group Chair (first from right) organized a group of great panellists of representatives from UK companies visiting Thailand with the Department of International Trade at the British Embassy.

On Friday 22nd September, BCCT Directors, Summer Xia and Viriya (Boyd) Chongphaisal (pictured in white), together with BCCT members and staff, attended the religious service with monks delivering special prayers to express gratitude towards the beloved monarch at Dusit Maha Prasat Throne Hall at The Grand Palace.

Pictured from left, Simon Matthews BCCT Chairman, Thomas Schmitt-Glaeser the Sukhothai Bangkok General Manager, Blake Dimsdale MAZARS Partner and Chris Thatcher BCCT Vice-Chairman. Learning about the Internet of Things at the BCCT Boardroom Briefing.

BCCT Directors and members in front of Dusit Maha Prasat Throne Hall.

Thank you to our sponsors.

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Chamber Events

BCCT/British Embassy Breakfast Briefing British Ambassador HE. Brian Davidson (pictured standing) welcomed BCCT members to The Residence, British Embassy on Wednesday 27th September for BCCT/British Embassy Breakfast Briefing. The talk covered general updates on current economic, political and embassy issues.

Boardroom Briefing: Solar Rooftop

Britain in South East Asia (BiSEA)

On Thursday 28th September, BCCT organised a Boardroom Briefing on Solar Rooftop with Raymond Schonfeld, Managing Director of Single Market Ventures and Kasemsook Booncharoen, Strategic Property Project Leader of Tesco Lotus as guest speakers. The topic discussed latest data on costs, incentives and the economic case for investment by companies in Thailand with Tesco Lotus as a case study.

The BiSEA Conference in Singapore on Thursday 28th September brought together the Chairmen and Executive Directors of the British Chambers and Business Groups in Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. BCCT was represented

by Chairman Simon Matthews and ED Greg Watkins.

Pictured from left, John Mugford - BCCT Property & Infrastructure Committee, Raymond Schonfeld and Kasemsook Booncharoen.

BiSEA conference delegates take a break from the busy meeting agenda.

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Chamber Events

Thai-UK Business Leadership Council

Leading High Performance Teams

On the 3rd October, delegates and representatives from Thai and UK companies joined together for a meeting under ThaiUK Business Leadership Council (TUBLC) at British Business Centre, British Chamber of Commerce Thailand. The meeting was held in order to support and promote trade and investment as well as to help identify potential business opportunities and partnerships in both countries.

BCCT held a one-day workshop on Leading High-Performance Teams with John F. McNulty (pictured standing) Managing Director of People Focus Consulting Asia Pacific moderating the session on Thursday 19th October at The Sivatel Bangkok.

The workshop was well attended by management and business leaders to enhance their skills in managing diverse, multicultural and multi-generational team members.

TUBLC members examined a range of business issues at the recent meeting.

This excellent one-day workshop was well supported by BCCT members.

BCCT T3 Business Networking A splendid evening was spent on the third Thursday of 19th October for BCCT T3 Business Networking in Vertigo TOO, Banyan Tree Bangkok. Thank you to our lovely host, the Banyan Tree Bangkok for great food and service.

Special thanks to our generous sponsors Mazars and Shrewsbury International School Bangkok for their support, making it a great event.

Pictured from left, the cricket legend Mike Gatting, Banyan Tree Hotel Manager Alexander Sheppard, and BCCT Chairman Simon Matthews

Christopher Seal, Principal of Shrewsbury International School Riverside (pictured middle) and Shrewsbury International School Bangkok team

Thank you to our sponsors.

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Chamber Events

Thai Computer Crime Act

One-Day Workshop: Presentation Skills

On Tuesday 7th November, BCCT Multi-Chambers Boardroom Briefing on IP Changes in the Thai Computer Crime Act was held at the British Business Centre. Guest speakers Panisa Suwanmatajarn and Police Lt. Col. Naughtakid Phomchan, engaged the audience in their talks and discussions about the IP section of the Computer Crime Act and how these critical changes positively protect their businesses and properties.

On Wednesday 15 November, BCCT organised a BCCT OneDay Workshop on Presentation Skills. The guest speaker guided participants through a journey of communication and techniques to enhance their presentation skills to become confident communicators.

Pictured from left, BCCT Chair of Legal & Taxation Stephen Frost, Police Lt. Col. Naughtakid Phomchan Cybercrime Specialist, Technology Crime Suppression Division, Panisa Suwanmatajarn and R.W.T. Director of Business Development Kevin J. Harrington. Special thanks to R.W.T. International Law Office.

Trainer Billy Pachara Yongjiranon, Corporate Trainer & Presentation Coach at SpeakPro Training, was well received by workshop attendees.

BCCT T3 Business Networking

Multi-Chambers Lunch: Thailand MICE

On Thursday 16 November, BCCT welcomed guests to BCCT T3 Business Networking at the authentic Punjab Grill Restaurant kindly hosted by the Radisson Suites Bangkok Sukhumvit. Special thanks to Mazars, our generous sponsor, for their great support as always.

On Monday 20 November, BCCT organised BCCT MultiChambers Lunch: ‘Thailand MICE, Where Are We Today and Moving Forward’ at Banyan Tree Bangkok. Guest speaker was Chiruit Isarangkun na Ayuthaya, President of Thailand Convention and Exhibition Bureau (TCEB). Many thanks to our sponsors Sunplay Bangsaray and Holiday Inn & Suites Rayong City Centre.

Pictured from left BCCT Vice-Chairman Chris Thatcher, Mazars Partner Blake Dimsdale and Radisson Suites Bangkok Sukhumvit General Manager Simon Ramsay. BCCT hopes to see everyone again at the next T3 in January 2018!

Pictured from left: David Cumming, Chairman of BCCT Travel & Tourism committee; Holiday Inn & Suites Rayong City Centre Director of Sales & Marketing Caroline Shen, Chiruit Isarangkun na Ayuthaya, AustCham Vice-President M.L. Laksasubha Kridakon, Sunplay Bangsaray representative Robert McMillen and BCCT Vice-Chairman Chris Thatcher.

Thank you to our sponsors.

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Chamber Events

BCCT Honorary Life Member

Young Professionals Networking

The British Chamber of Commerce Thailand is delighted to announce that Grenville Fordham has been awarded Honorary Life Membership. Gren has been a great supporter of, and adviser to, BCCT in Phuket since our first event there more than 15 years ago. See more detail on page 21.

A good crowd of young professionals gathered on Thursday 23 November for a BCCT Young Professionals Networking at Bangkok Marriott Marquis Queen’s Park. Richard Porter (second from left), Director of Trade & Investment at the British Embassy Bangkok, gave helpful tips on how to master business networking skills before joining guests for a speed networking activity.

Grenville Fordham (left) receives his award.

Pictured from left BCCT Vice-Chairman Chris Thatcher, Richard Porter, and BCCT Young Professionals Committees - Kieran Tayler, Pinyapa Pichaipalakorn and Sarah Smith.

BCCT Morning Briefing

Thai Class Action Regime

On Friday 24 November, BCCT organised a BCCT Morning Briefing on Commercial Drones in Agriculture at British Business Centre. Speakers Markus Scherer Drone Centre of Excellence – Lead and Chukiat Wongtaveerat Senior Consulting Manager from Ipsos Business Consulting discussed the adoption of drones in agriculture as well as development in agribusiness in Indochina.

BCCT, together with AMCHAM and a great suppport from AustCham and EABC, organised a BCCT/AMCHAM MultiChambers Boardroom Briefing on Thai Class Action Regime on Tuesday 28 November. Moderator Douglas Mancill led a group of legal experts including Peter Shelford, Chaiporn Supvoranid and Timothy Breier to discuss the evolving Thai class action regime and to offer unique insight into existing Thai class action lawsuits and key components of class certification criteria.

Pictured from left, Markus Scherer, Chukiat Wongtaveerat and BCCT Vice-Chairman Chris Thatcher.

Pictured at the panel head table from left: Douglas Mancill from Price Sanond; Timothy Breier and Chaiporn Supvoranid, Partners from Baker & McKenzie; and Peter Shelford, Country Managing Partner from DLA Piper Thailand.

Thank you to our sponsors.

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Comings and Goings The British Chamber of Commerce Thailand welcomes the following new members: AJ Power Limited 1 Charlestown Drive Craigavon BT63 5GA Representatives Mr. Kevin Boorer - Regional Business Development Manager

Captain Hook’s Smoke House Co., Ltd 156/18 Moo3, T. MaiKhao, A. Thalang Phuket 83110 Tel: +66 81 833 4795 Email: martin.e@chsmokehouse.com Website: chsmokehouse.com/

Representatives Mr. Martin Eleveld - CEO Mr. Andrew Davies - Consultant Background Captain Hook’s Smokehouse is a producer and wholesaler of premium quality smoked fish using traditional European smoking techniques.

Our state of the art factory, based in Phuket, serves the Hospitality Industry for catering orders as well delivering company branded goods for retailers.

Our team of artisan Master Smokers delivers delicious salmon, tuna, swordfish and mackerel using “hot” and “cold” smoking processes.

Captain Hook’s Smokehouse aims to deliver the finest smoked fish in Asia satisfying the expectations of connoisseurs.

Come on a taste adventure with us.

Doctor Green Innovation Co., Ltd. 77/599 Prasert-Manukitch 29 Yaek 2, Prasert-Manukitch Rd. Lat Phrao, Lat Phrao Bangkok 10230 Tel: +66 2578 1559 Fax: +66 2578 1558 Email: christine.ramos@ drgreenenergy.com Website: www.drgreenenergy.com

Representatives Mr. Tanyarit Pantarawong - Head of Solutions & Business Consultant Mr. Stak Ma-imjie - Executive Director Dragon Capital Management Limited 399 Interchange Building, 23rd Floor Sukhumvit Road, Klongtoey-Nua Wattana, Bangkok 10110 Tel: + 2 611 2600-1 Fax:+ 2 622 2603 Website: www.dragoncapital.com Representatives Mr. Thomas Vaizey - Senior Legal Counsel Exus Tower 42, 8th floor, 25 Old Broad Street, London EC2N 1PB Website: www.exus.co.uk Representatives Mr. Christos Maranis - Unit Manager, Business Development

Faraway Yachting Charters Co Ltd 1159 Moo 9, Soi 7, Tambon Chalong, Ampur Muang Phuket 83110 Email: chartercatamaranphuket@ gmail.com Website: www.chartercatamaran.com

Representatives Mr. Robert J. Mott - Manager Sales and Logistics Ms. Namphueng Pomkrathok - Director Background Faraway Yachting Charters was founded in 2010 and is a Thailand Board of Investment Company (BOI) under Tourism classification.

We serve international and local customers for catamaran charters holidays in Thailand, Myamnar, Malaysia and Andaman Islands India. We also provide guest logistics for transport and hotel bookings throughout Thailand.

The Faraway Group is also involved in catamaran design and building facilities and marine equipment supply as well as international freight logistics for import and export. Faraway has strong ties with Auscham and companies in Australia working through TAFTA. Thailand Australia Free Trade Agreement.

We are also agents for Rainman Watermakers RO Systems (Australia), GME EPIRBs and AIS tracking systems (Australia), Whaly Boats (Holland), E-Solar batteries (Australia). We supply various other marine products covering most markets.

We also assist visiting yachts with regional information through our affiliate witn www.noonsite.com and international cruising information website. Our Manager of sales Robert Mott is the regional Noonsite editor.

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GEMS Education GEMS Education Bldg, Sheikh Zayed Rd., Dubai 8607 Tel: +97 143477770 Fax: +97 143403377 Email: bradley.jones@ Gemseducation.com Website: www.gemseducation.com

Representatives Mr. Bradley Jones - Director, Global Business Development Background GEMS is the largest K-12 education operator in the world with a global network of award-winning schools. Globally, GEMS educates over 250,000 students from 173 nationalities and employs over 20,000 education specialists and staff from over 115 countries. GEMS is the biggest employer of British teachers in the world, outside of the UK, and the majority of our schools around the world are British curriculum.

JAND Group Co., Ltd Royal Phuket Marina 63/202 Moo2, Thepkasattri Road Koh Kaew, Muang Phuket Phuket 83000 Tel: +66 76 600 225 Fax: +66 76 601 320 Email: info@jandevents.com Website: www.jandevents.com Representatives Mr. David Hayes - CEO Background Whether organising a large or smallscale event the details are important, and JAND Events are the experts in detail. When it’s your own event such as a birthday, an anniversary

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or a wedding, it’s personal and the event experience has to be exactly right. At JAND Events we do more than ensure the event is perfect on the day, we will work closely with you all the way. From concept to creation, and all the minute details in between, our team are on your side to ensure the process is enjoyable and the event experience itself is memorable for you, and your guests.

Looking to deliver a corporate event but want something, well, different?

Give us a call or email us. We are originators. An offsite meeting for company executives, a seminar or mass participation conference, team building events or incentives for your top performers, no corporate event is too small, too large or too detailed for us. We listen to your needs and will create something unique.

K+Z CORPORATION LTD. 140/1, Moo 4, Tambol Sam Ngam Don Tum, Nakhon Pathom 73150 Tel: +66 34 381 313 Fax: +66 34 381 717 Email: sales@kzcorp.com Website: www.kzcrop.com

Representatives Mr. Giuseppe Zigrino - Managing Director Ms. Natpraparn Junlamoon - Finance Director Background Kidd+Zigrino Co., Ltd., established in the United Kingdom in 1972 to Manufacture Machinery for Bleaching, Dyeing, Printing and Finishing of Textile Fabrics and Carpets.

To oversee the Asian market Kidd+Zigrino (Asia) Co., Ltd. was initiated in Thailand as a joint venture Company in 1991.

In 1996 K+Z Corporation Ltd. in Nakorn Pathom, Thailand, was thus

formed to Head and Control all of Kidd+Zigrino Business interests worldwide.

KidsFirst International Kindergarten 57/1 Soi 7, Rama 9 Road Huay Kwang, Bangkok 10110 Tel: +66 0863789188 Email: booking@gokidsfirst.com Website: www.gokidsfirst.com Representatives Ms. Claudia Liu - Executive Marketing Director Background At KidsFirst International Kindergarten, we help to make this a reality by developing a child’s cognitive abilities and self-directed learning skills.

Firstly founded in 2015 as KidsFirst Early Developing Center and International Nursery – the first researched-based international kindergarten in Bangkok – and in 2017, the KidsFirst Kindergarten is established.

We have grown in leaps and bounds, adopting both the International Pre-School Curriculum (IPC) and Creative Curriculum, to deliver quality and international kindergarten education that unleashes your child’s hidden potentials.

We are strong believers of an inclusive learning environment, where children with different abilities learn alongside each other, creating learning experiences beyond the walls of the classroom.

Minibar Service (Thailand) Co.,Ltd 797/1 Rama 9 Road, Bangkapi, Bangkok 10310 Tel: +66 (0)800 800 265 Fax: +66 (0)2 719 6177 Email: bkk@mbsthai.com Website: www.mbsthai.com

Representatives Mr. Anthony Taylor - Company Owner Mr. David Williamson - Sales Director Background Minibar Services (Thailand) is Sole Importer & Distributor of Kopparberg, Peroni, Green King, Fosters, Fashion Vodka, Disney Beverages, Irium Wines and Robinsons fruit drinks, We offer also Britvic real fruit drink mixers.

Delivery Service available troughout Bangkok, Pattaya, Phuket and Chiang Mai in Thailand. Call now or CONTACT US one of our representative will get back to you in a short time.

Monde Nissin (Thailand) Co., Ltd. 87 All Seasons Place, M Thai Tower 22nd Floor, Unit 2202 Wireless Road, Lumpini Pathumwan, Bangkok 10330 Tel: +66 2 654 3188 Fax: +66 2 654 3177 Email: cs@mondenissin.co.th Website: www.mondenissin.co.th Representatives Mr. Chakrit Bhurichinct - Modern Trade Manager Mr. Veeraprawat Treesuvanna - Assistant Brand Manager

Play on Football Ltd Media House Richmond Road, Bowdon Altrincham, Cheshire WA14 2TT Tel: +44 161 302 8200 Email: Admin@playonpro.net Website: www.playonpro.net Representatives Ms. Fiona Armstrong Hall - Finance Manager

Background Playon is a unique concept that gives the opportunity for retired Premier League footballers to extend their careers for as long as they able to play. It allows them to recreate the dressing room atmosphere with ex-team mates that they enjoyed for so long and take part in competitive football games all over the world, outside of the UK. In the history of UK professional football an organised playing structure for ex-professionals has never been attempted; this at a time when the Premier League is more popular than ever globally.

The playon concept has scale to extend to other major football leagues globally and to other sports such as cricket, baseball and basketball – all of which face similar challenges with professional players upon retirement.

Premiere Home Health Care Co.,Ltd 61/228 Soi Thavee Mitra 9 Rama 9 Road Huai Khwang, Bangkok 10310 Tel: +66 2 157 1390 Email: kanchanida.r@jinwellbeing.com Website: www.jinwellbeing.com

Representatives Mr. Pete Cheah - Corporate Relationship Director Mr. Arthit Jaemsawang - Head of International Marketing Background Premiere home health care Co., Ltd. is a healthcare solution provider under Thonburi Healthcare Group Public Company Limited. We are focusing in 2 healthcare solutions business those are “Senior Care

and Living” and “Home Healthcare Service”.

Senior Care and Living business, we are currently developing one project named “JIN Wellbeing County” which is concerned about healthcare mixed used development located at Rangsit area. JIN Wellbeing County, the new residential concept in retirement, is a world-class integrated healthcare for senior and elderly people which completely redefined living experience of residents.

The project is included Active Living Community, Aged Care Center and Club House & Wellness Center with exceptional hospitality and healthcare services. Interiors of JIN Wellbeing County follow Universal Design principles to ensure that furniture and other designed elements are simple and easily adaptable to each resident’s preferences.

JIN Wellbeing County are focusing on Prevention, Treatment, Recovery, and Long Term Care for residents.

Health evaluation provides each resident a clear picture of their health. With professional consultation and recommendations, residents can better understand and protect their bodies by following tailor-made medicine and dietary plans. The residents will live in a care free environment thanks to the on premise medical and emergency response team. Know that they are able to be treated at home and safeguarded at all times and get moving again with Rehabilitation Center and hydrotherapy programs available at JIN Wellbeing County.

The residents also can enjoy the benefits of our multidisciplinary and personal approach to sustainable care by our team of medical specialists. Receive full-day attention in the day care center, while longer care requirements are welcomed in the nursing home. JIN Wellbeing County also provided a collective of activities, events, and classes that welcomes all residents to inspire a renewed sense of spirit.

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Renaissance Pattaya Resort & Spa 9/9 Moo 3, Na Jomtien Sattahip Chonburi 20250 Tel: + 38 259 099 Fax: + 38 259 098 Email: info@renaissancepattaya.com Website: renaissancepattaya.com

Representatives Mr. Saurabh Kukreja - General Manager Mrs. Thansita Sirapastuwanon - Director of Sales & Marketing Background Renaissance Pattaya Resort & Spa is scheduled to open on September 1st, 2017. The epitome of contemporary luxury with the beautiful, serene Na Jomtien Beach will create an unexpected and engaging experience for lifestyle of a savvy traveler.

Stylish and vibrant interiors will wow guests at the 257-room Renaissance Pattaya Resort & Spa. With four room categories available, the resort will offer some of the city’s most comfortable accommodation, including chic Pool Villas and spacious Family Suites.

Recreational facilities will include two outdoor swimming pools, a kids pool, kids club and a luxury spa. Inspirational gourmet choices will be available around the clock,as dining options at the resort are set to include 609 Kitchen for breakfast and all day feasting and specialty restaurant, Pebbles Bar and Grill, for fine cuts served alongside hand crafted beverages, created by an expert mixologist. R Bar will create a relaxing space in the lobby area, where guests unwind.

Renold (Malaysia) sdn bhd No. 2, Jalan Anggerik Mokara 31/44, Kota Kemuning, Section 31, Shah Alam Selangor 40460 Tel: +60 3-5525 3898 Fax: +60 3-5525 5979 Email: malaysia@renold.com Website: www.renold.com

Representatives Mr. Chong Chee Kong - Managing Director, South East Asia Mr. Phasit Lasan - Manager, Renold Thailand Rêves de Rebacca Ltd 16 Upper Woburn Place London WC1H OBS Tel: +44 26 269 303 1598 Fax: +44 Email: jm.leclercq@revesderebecca.com Website: www.revesderebecca.com Representatives Mr. Jean-Marc LECLERCQ - Chairman Mr. Jc TOISON - VP International Sales Taylors of Harrogate Pagoda House, Plumpton Park Harrogate HG2 7LD Email: Garry.Nield@ bettysandtaylors.co.uk Representatives Mr. Garry Nield - International Director The Interactive Design Stuart House, Eskmills, Musselburgh, Scotland EH 21 7PB Tel: +44 1315601226 Email: michael.stewart@idesigni.co.uk Website: www.idesigni.co.uk Representatives Mr. Michael Stewart - Director of Communications

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The LifeCo 75 Moo 3, Tambon Sa Koo, Thalang District, Phuket 83110 Tel: +66 76 328 467 Email: Phuket@thelifeco.com Website: www.thelifeco.com Representatives Mr. Sinan Onurlu - Marketing Manager Ms. Basak Erel - General Manager

TICON Industrial Connection PLC 13th Floor, Sathorn City Tower 175 South Sathorn Road Thungmahamek, Sathorn Bangkok 10120 Tel: +66 (0) 805 805 005 Fax: +66 (0) 2679 6569 Email: ticon@ticon.co.th Website: www.ticon.co.th

Representatives Mr. Virapan Pulges - Chief Executive Officer Mr. Sopon Racharaksa - President Background In 1990, TICON Industrial Connection Public Company Limited (TICON) was first established with an objective to be the leading developer of integrated industrial properties in ASEAN. TICON’s business is to provide high quality factories for industrial sector – available in 18 locations in domestics today.

While TICON Logistics Park Co., Ltd. (TPARK), is a wholly owned subsidiary to provide total solutions for international quality warehouses and distribution centers - located in 33 strategic locations across the country. TICON Group’s facilities are Ready-Built and Built to Suit - with variety of sizes and specifications to meet different needs of the customers.

In 2015, TICON has joined with Indonesian property developer SSIA and Japan’s Mitsui to set up a joint venture company in Indonesia to be named PT SLP Surya TICON Internusa (SLP) with a registered capital of USD 46.4 million. This collaboration is its first expansion into the ASEAN. In 2017, TICON has increased its registered capital to 1.83 billion Baht and the shareholding structure has changed. Frasers Centrepoint Limited (FCL) is the Group’s major shareholder. FCL is a leader in the real estate development industry in ASEAN with extensive of experience and expertise in the development and management of integrated real estate projects as well as industrial properties in North Asia, Southeast Asia, Australia, Europe and the Middle East.

Tremco Illbruck Limited Torrington Avenue Coventry CV4 9TJ Tel: + 24 7685 5000 Fax: + 24 7646 9547 Email: miki.pavlovic@tremco-illbruck.com Website: www.tremco-illbruck.com Representatives Ms. Miki Pavlovic - Business Development Manager, Nullifire Far East Resignations & Cancellations 1. ACTATEK Pte Ltd. 2. Akando and Akando Real Estate Co.,Ltd. 3. Avon Automotive UK Holdings Ltd 4. Emil Lambrinos, Mr. (individual member) 5. Glow Company Ltd 6. Good Spirit Co., Ltd./Head Off 7. Guy Howle (Mr.) ( individual member) 8. Hotel Indigo Bangkok Wireless Road 9. I.J. Martin & Co Ltd Executive Coaches for Global Business Leaders 10. Ian Grant, Mr. (individual member) 11. iCamp Thailand 12. Info Inside Co., Ltd. 13. International Export Supplies Ltd

14. Organo Gold International 15. Portsmouth Aviation Ltd. 16. Real Estate Broker Association Eastern Seaboard 17. Slim Smart Solution Co., Ltd. 18. SMC Consulting Engineers Co.,Ltd 19. The Fox Business Ltd. 20. The Honest (Thailand) Co., Ltd. 21. Verlagshaus Buhn 22. Workammo Placement (Thailand) Co., Ltd. Change of company name 1. Bangkok Exhibition Services Ltd change to UBM BES 2. Brintons Pty Ltd change to Brintons Carpets Ltd (Singapore branch) 3. G4S Secure Solutions (Thailand) Limited change to G4S Security Services (Thailand) Limited 4. Metal Tiger Exploration Company Limited change to Metal Tiger IHQ Co., Ltd 5. Ophir Thailand change to Ophir Thailand (Bualuang) Limited 6. Plaza Athenee Bangkok, A Royal Meridien Hotel change to The Athenee Hotel, a Luxury Collection Hotel, Bangkok 7. Thanyapura Phuket change to Thanyapura Health & Sports Resort, Phuket Change of company representative 1. Amec Foster Wheeler from Mr. Graham Richardto to Mr. Gary Milton 2. Aurecon Consulting (Thailand) Co., Ltd. from Mr. Krieattisak Sriaram to Mr. Sakorn Kruemai 3. Bangkok Ranch Public Company Limited from Ms. Peerawan Matngammuang to 4. Bumrungrad International from Mr. Roland Hohmann to Mrs. Laurie Colyer-Charusorn 5. Citibank from Darren Buckley to Mr. Tibor Pandi 6. E&O Service Thailand Co., Ltd. from Mr. Nicolas Pillet to Mr. Valentin Waldman 7. International SOS Services (Thailand) Limited from Mr. Marc Beuthe to Mr. Robert Tyler 8. International SOS Services (Thailand) Limited from Mr. Robert Tyler to Dr. Thierry Cuchet 9. Jet Airways (India) Ltd. from Mr.

Aldrin Kenneth to Mr. Natthapatr Sibunruang 10. Le Méridien Bangkok from Mr. Carl Volschenk to Ms. ChooLeng Goh 11. Magnolia Quality Development Corporation from Ms. Khajornrat Poolsatitiwat to Ms. Sasinan Allmand 12. Metal Tiger IHQ Co., Ltd from Mr. Keith Johnston to Mr. Michael David McNeilly 13. Ms. Bhudhibha Chientachakul 14. Outrigger Asia Limited from Mr. Mark Simmons to Mr. Damian Clowes 15. Pearson Education Indochina Co.,Ltd. from Mr. Robert Charies Horwood to Mrs. Jantima Hiraga 16. PKF Holdings (Thailand) Limited from Mr. John Domenico Casella to Mr. Andrew McBean 17. Renaissance Pattaya Resort & Spa from Ms. Kussarin Amonthakonsuwet to Mr. Saurabh Kukreja 18. Sasin Graduate Institute Of Business Administration Chulalongkorn University from Prof. Dipak C. Jain to Prof. Ian Fenwick 19. SpiceRoads Co.,Ltd from Mr. Struan Robertson to Mr. Daniel Moylan 20. The Athenee Hotel, a Luxury Collection Hotel, Bangkok from Ms. Potjanee Darakamas to Mr. Thanos Economou 21. Triumph Motorcycles (Thailand) Limited from Mr. Peter Coates to Mr. Carl Smith 22. Unilever Thai Trading Limited from Ms. Supattra Paopiamsap to Mr. Mike Dicken Change of company address 1.

2.

3.

Allied Pickfords 882/2 Loft Lane, La Salle Road, Sukhumvit 105, Bangna Bangkok 10260 Brintons Carpets Ltd (Singapore branch) 562C Serangoon Road Singapore 218178 LAMP Services Limited Thailand Office No. 28, 6th Floor, Q House Phloen Chit 598 Phloen Chit Road, Lumpini, Pathumwan Bangkok 10330 The Link

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FINAL WORD

Mistaken identity

By Dale Lawrence

D

uring my seven years of penal servitude in an English public school the thought of sleeping in a girls’ dormitory was the stuff of teenage fantasies. I certainly never raised the issue with Matron at morning sick bay.

How times change. A boarding school in Surrey is proposing to allow boys that question their gender identity to sleep in the same dorm as the girls. Gordon’s School in Woking will also allow pupils to be known by gender-neutral pronouns such as ‘zie’, wear the uniform of the op-

posite sex and use gender-neutral lavatories.

(always faithful) may be sorely tested in the years to come.

New guidelines being drafted will permit boys to grow their hair long and wear make-up. Apparently the Boarding Schools’ Association published guidance advising that transgender boys should be allowed to sleep in the girls’ dormitory and vice versa.

Meanwhile the Church of England is encouraging children to explore the possibilities of who they might be – including gender identity. Advice circulated to 5,000 C of E schools states that nursery and primary school is a time of ‘intense creative exploration’ and children should be able to choose the tutu, tiara and heels as well as, or instead, of the helmet, tool belt and superhero cloak without expectation or comment. I missed that bit in Sunday School.

Gordon’s is named after Major-General Charles Gordon, better known as Gordon of Khartoum for his role as Governor-General of the Sudan.

The school’s motto Semper Fidelis

Case closed for leading Q .C. One of Britain’s best known barristers of the twentieth century passed away recently at the ripe old age of 102. Jeremy Hutchinson Q.C. was perhaps best known for his role in defending Penguin Books at the Old Bailey in 1960 when the DPP prosecuted the publishers of Lady Chatterley’s Lover (penned by my more famous literary namesake D. H. Lawrence) on the direction of Attorney-General Reginald Manningham-Buller. The DPP lost the case

three million copies of Lawrence’s raunchy tale.

Leo McKern

and Penguin reaped the reward of a not guilty verdict by selling some

The lawyer, who as Baron Hutchinson of Lullington sat on the Liberal benches despite his earlier parliamentary aspirations as a Labour M.P., was characterised in part by his learned friend, fellow socialist and celebrated author John Mortimer in the ‘Rumpole of the Bailey’ books and the TV series that starred Leo McKern in the title role.

Gatt bats in Bangkok I spent a pleasant evening recently in the company of former England cricket captain Mike Gatting who was in Bangkok as part of a whistlestop tour of Asian cities to promote the game to youngsters. Mike, who scored 10 Test Match centuries, was the special guest at a BCCT T3 networking evening. His first class career with Middlesex spanned some

24 years when many a fine bowler was despatched to the boundary with aplomb. However, he will also be remembered for his dismissal at Old Trafford to the ‘ball of the century’ from young Aussie leg spinner Shane Warne. Asked for his reaction at the time, Gatt told me simply that ‘it rhymed with clucking bell’.

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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The Link

Issue 4/2017