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BANGKOK BUSINESS BRIEF December 2011

1

BUSINESS BRIEF

Vol. No. 1, Issue No. 1

December 2011

THB 100.-

www.bangkokbusinessbrief.com

Bangkok Business Brief: The quick guide to your business news

By Alan Verstein

Thailand struggles for high marks on ASEAN scorecard By Dean Outerson

With just over three years until ASEAN is meant to transform itself into the ASEAN Economic Community (AEC), questions remain about whether members can achieve the AEC Blueprint bench-

Inside

General Interest Economy Government Finance/Investment Production Infrastructure/Logistics Retail/Services IT/Comms Tourism Real Estate Environment/CSR Business Organizations The Chambers The Calendar

2 3 4 5 6 7 8 9 10 11 12 13 14 22

marks by the 2015 target date. While there has been progress in certain sectors in most of the ten ASEAN member states, significant work still needs to be done in key areas. Despite optimism from some ministers and from the ASEAN Secretariat, many analysts in the region speculate that the dream of the AEC will take more time. They say that Thailand in particular, needs to make significant improvements in certain sectors in order to achieve these benchmarks. If the AEC reaches its goals and achieves economic integration in 2015, the combined economies will feature a population of over 600 million, a forecast nominal GDP of US$1,800 billion and over 6% of the world’s trade. The AEC will be the third largest economy in Asia, behind China and India.

URGENT! British expats see Page 12 NOW! In order to get to these numbers, the 2007 AEC Blueprint calls for the elimination of all tariffs on all goods within the community, labour mobility (starting with seven professions), liberalisation of the services sector (including hotels and tourism), free flow of investment in all industries, a single aviation market, an integrated competition policy to prevent monopolies, infrastructure development (with a focus on transport, ICT, energy and other cross border issues), and improved agreements and integration in areas such as taxation, e-commerce and SME development.

The newspaper you’re holding right now comes from a need for a resource that I thought our city has been lacking for too long: a businessto-business journal that consolidates and summarizes the reported business news happening here. In the United States, every major city has its own similar business journal, and I believe that the time has come to have a similar publication here. This newspaper is a guide to quickly digest the month’s local business news from various news outlets, categorized into 12 topics of interest (see ‘Inside’ to the left) and summarized with a brief sample of the full story. If you find a summary in which you wish to read the whole article, then just enter the short code provided at the end of the synapsis into your web browser and you’ll be taken directly to the original story from the original source. This monthly guide is just the ‘tip of the iceberg’, however, as you can also visit our website – www.bangkokbusinessbrief.com – on a daily basis and get a snapshot of the day’s business news, all with links to open up the full original articles.

And we don’t stop there: every month brings fresh cover stories, Chamber updates, and event calendars. We have more features planned for the future as we expand, so join us every Story continues on Page 20. day online and monthly in print.


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BANGKOK BUSINESS BRIEF

Briefs

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December 2011

To read the full article of a story brief, enter the short code at the end of the story into your browser:

liam Shakespeare in JuliusCaesar. Nature and life are cyclical _ the seasons of the year, life and death, the phases of the moon, the tides. Caught up in daily details, we eashttp://goo.gl/ozbNM ily forget that the business world has cycles, too. We are all familiar Asia stands to with the economic business cycle gain from West of expansion, contraction and recovery. However, other cyclical... slowdown The shift of economic growth mo- Full story at http://goo.gl/fJolr mentum to the East has opened up numerous opportunities that Panel: Asia better Asian countries should not miss off, not immune, out, suggests an economist. from global crises

General Interest

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

1997-98 was a blessing, as the impact of 2008 would have been far worse for the region,” Azman Mokhtar, the managing director of Khazanah Nasional of Malaysia, told the CIMB Asean Conference. His comments were... Full story at http://goo.gl/dfu2u

Thailand near top of list of world’s weakest pension systems: study

goo.gl/bH6PF

tirees to people of working age remains above the European average. In India, China and Thailand, roughly 12 percent of the population contribute to a pension,... Full story at http://goo.gl/nLEIS

Preventing Bangkok from sinking biggest challenge

Land subsidence caused by ground water losses tops the list of problems that must be solved in Bangkok to mitigate the impact of the climate change on flooding, says a study by multinational agencies.

Greece, India, China and Thailand are home to the weakest national pension systems in the world, crippled by a mix of acute sovereign debt, young retirement ages, high ratios of pensioners to work- The conclusion is contained in ers and poor pension take-up, a a report entitled “Climate Risks study showed. and Adaptation in Asian Coastal Megacities”, jointly conducted by the The Allianz Global Investors Pen- Asian Development Bank, the Japan Grow with the flow sion Sustainability Index, which International Cooperation Agency tracks the relative sustainabil- and the World Bank in 2010. of cycles ‘There is a tide in the affairs of ity of national pension systems men, which, taken at the flood, “There will be more crises in the in 44 countries around the world, The report recommended a... leads on to fortune”, wrote Wil- future, and the Asian crisis in showed the number of Greek re- Full story at http://goo.gl/20yMD The robust economic growth of China and emerging economies will open a new opportunity for Asian economies to increase their wealth from trade in goods and services at a time when the United States and Europe are... Full story at http://goo.gl/S65D6

KUALA LUMPUR : The Asian crisis in the late 1990s was a wake-up call for the region that has turned out to be a blessing in disguise nearly 15 years later, as the region’s financial sector is now strong and able to sustain a certain degree of shocks from the fallout in the Western Hemisphere, according to a panellist at a recent Asean conference.


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BANGKOK BUSINESS BRIEF December 2011

BANGKOK BU SINESS BRIEF

Briefs 3

General Inte

Use the QR Code reader in your smartphone to see all the stories in a certain category.

Economy

http://goo.gl/LjBqz

Thailand Says GDP May Shrink 3.7%, Adding to Rate-Cut Case

December 20 11

rest

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

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

BANGKOKgoo.gl/bH6PF

Nature and life in JuliusCaesar. 1997-98 wa are cyclical _ the impact of s a blessing, as the mains seasons of the yea 2008 would ha above the Europ the phases of the r, life and death, far worse ve been ean average. for the region, mo http://goo.gl/o on, the tides. ” Azman In Caught up in da zbNM India, China ily details, we eas Mokhtar, the managing and Thailand, ily forget that dir ect of or Kh Asia stands to rou aza ghly 12 percent nah the business wo of has cycles, too. rld told the CI Nasional of Malaysia, tion contribute to a the populaWe are all fam MB Asean Confe gain from W pension, while iliar with the econo rence. the we es t mi ak c ne bu sse sin s ess of cycle His com slowdown of expansion, con sion system are Thailand’s penments were... ... covery. Howe traction and re- Full story Full story at htt The shift of eco ver, other cyc at http://goo.gl/d nomic growth p:/ /goo.gl/rtpH3 lic ph al fu2 en u om ena affect... momentum to the Thailand near Preventing up numerous East has opened Full story at http://goo.gl/fJ to p opportunities olr of list of wor that Asian countries Bangkok from out, suggests an should not miss Panel: Asia bett weakest pensld’s sinking bigges economist. io off, not immun er n t systems: stud challenge The robust eco y from global cr e, no Greece, India, Ch Land subsidence China and em mic growth of is es ina and Thailand erging economi caused by groun are home to the water losses top will open a ne es KUALA LUMPUR : The As d weake w s ian cri- pensi on systems in st national lems that must the list of probAsian economi opportunity for sis in the late 1990s was a wa es to increase the be the kesol cal up ved wo l for in rld cri Ba , the region that pp wealth from tra ir has turned eig led by a mix of acute sover- kok to mitigate the impact ngde in goods an out to be of the n debt, young climate change services at a tim a blessing in d retire dis e on States and Europ when the United nearly 15 years later, as the guise high ratios of pension ment ages, a study by multin flooding, says region’s ers an ers to worke ational agencies financial sec Full story at htt are... d . p://goo.gl/S65D6 able to sus tor is now strong and study poor pension take-up, a The conclusio showed. tain a certain n de is gre contained in of shocks from e Grow with th a rep ort the entitled “Clim e flow Western Hemi fallout in the The Allianz ate Risks and Ad of cycles sphere, accord ing sion Susta Global Investors Pen- Megac aptation in Asian Coastal to a panellist at a recent As inability Index, ities”, jointly con ‘There is a tid ean conference. ducted by the which Asian De tracks the rel e velop ati men, which, tak in the affairs of ity of nationa ve sustainabil- Internation ment Bank, the Japan l al leads on to for en at the flood, “There wi in 44 countries pension systems and the Wo Cooperation Agency ll be more crises tune”, wrote Wi around the wo rld Bank in 201 l- future, an in the showe rld, 0. d the Asian crisis in tirees d the number of Greek reThe report recom to people of wo rking age reFull story at htt mended a... p://goo.gl/20yMD Sponsored by

...

The 1997 financial crisis is receding into memory but Thailand’s taxpayers are still footing the bills _ 60 billion baht a year in interest on debts from bailing out financial institutions that ultimately failed and survivors brought low by reckless lending.

To this day, the government and the Bank of Thailand continue to argue over who is responsible for Thailand’s economic growth the debts and how best to repay quickened for the first time in them before more public money more than a year last quarter on goes to waste. exports, before the worst floods in almost 70 years raised the specter Teerana Bhongmakapat, dean of of a slump and prompted the gov- economics at Chulalongkorn Uniernment to cut its 2011 forecast. versity, says the liabilities are, after all, public debts, and should be Gross domestic product rose paid by... 3.5 percent in the three months Full story at http://goo.gl/pkQyj through September from a year earlier, after climbing a revised Thailand Inflation 2.7 percent in the previous quar- Holds Above 4% as ter, the National Economic and Floods Stoke Food Social Development Board said in Bangkok today. The median of Costs 11 estimates in a Bloomberg News Thailand’s inflation rate held survey was for a 4.5 percent gain. above 4 percent for the seventh straight month in October as the The damage may reach 400 billion worst floods in almost 70 years baht ($13 billion), Barclays Plc destroyed crops and stoked food said, and the Bank of Thailand has costs. signaled room to cut interest rates to prop up growth as well as... An index of consumer prices Full story at http://goo.gl/EF1rI climbed 4.19 percent from a year earlier, the Ministry of Commerce World Bank: said in Nonthaburi province outFloods to stunt Thai side Bangkok today, compared with a 4.03 percent pace in Sepgrowth at 2.4% tember. The median of 13 estiThe World Bank expects a sig- mates in a Bloomberg News surnificant dampening of the Thai vey was for a 4.5 percent gain. economy this year from the widespread flooding and warns that fu- The Bank of Thailand slashed its ture expansion could suffer from 2011 economic growth estimate growing concerns of a possible re- following the disaster, adding cession in Europe and continued pressure on policy makers to... sluggish public investment. Full story at http://goo.gl/Hg5iX

Greek crisis poses a threat to Thai economy, governor warns

Its semi-annual economic report on Asia Pacific released yesterday said the flooding would reduce Thailand’s economic growth to 2.4% this year from 3.4% projectA major risk for the Thai economy ed previously. in the post-flood period will be However, reconstruction and sup- the political gridlock in Greece, which is threatening to result in a ply chain resumption would... debt default that will spill over to Full story at http://goo.gl/550Ve the rest of the euro zone, says cenThe malady lingers tral bank governor Prasarn Trairatvorakul. on Pressure mounts on central bank to take more responsibility for Dr Prasarn called for an early resthe huge costs of the 1997 bail- olution to the Greek problem in... Full story at http://goo.gl/KFH3R out

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Preecha Lormnak Issue 1, Volume 1 • December 2011 Copyright 2011. All rights reserved.


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BANGKOK BUSINESS BRIEF

Briefs Government

Government

Sponsoredhttp://goo.gl/EIbH6 by TISCO Financial

Update on tax easings Finance Minister Thirachai Phuvanatnaranubala will today meet representatives from the manufacturing sector to update them about progress on proposed tax measures for businesses affected by the severe flooding. These include a duty waiver on machinery and raw-material imports from non-Asean countries, as well as rebates for flood-damaged raw materials. There is also a proposal to extend the period for loss deduction from taxable... Full story at http://goo.gl/LfSQw

Ministry starts rehab scheme

The flood crisis is estimated to have affected about 240,000 small

www.bangkokbusinessbrief.com

December 2011

To read the full article of a story brief, enter the short code at the end of the story into your browser: and medium-sized enterprises employing 670,000 people in 32 provinces, reducing the SME sector’s gross domestic product by Bt24 billion per month, according to the Office of Small and Medium Enterprises Promotion (Osmep).

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

On Prime Minister Yingluck Shinawatra’s order, Mr Virabongsa will head a panel responsible for formulating strategies to... Full story at http://goo.gl/d7ahU

as autos and parts, electronics and electric appliances, and farm equipment – as well as individuals to cope with the higher costs inflicted by the flood.

ERC approves Bt20bn relief measures

“We need to ensure buyers that exports from these industries will... Full story at http://goo.gl/DKBZ7

The Industry Ministry yesterday announced the registration of flood-affected SMEs that want the The Energy Regulatory Commis- Suppliers affected government to help rehabilitate... sion approved relief measures for indirectly will also Full story at http://goo.gl/uN4wy individuals and manufacturers, need BoI help which could be valued about Bt20 Plan hatched to billion. The government will allow existing promoted businesses affected revitalise tense Direk Lawansiri, chairman of the indirectly by flooding to enjoy nation commission, said that the mea- Board of Investment privileges for The government has appointed a sures cover a waiver of service fee, an extended period. veteran economist and a close aide the payment of electricity bills in of His Majesty the King to help get installments, a temporary mainte- Severe impact is expected for supthe country back on its feet in light nance of fuel tariff (FT), the... porting industries in the automoof the flood disaster. Full story at http://goo.gl/G0Vtz tive, electronics and other sectors, because even if they are not Former deputy prime minister Govt’s Bt3bn to affected by floods, some of their and respected economist Vi- kick-start exports customers could be out of action rabongsa Ramangura will sit on a The Commerce Ministry plans to for months. high-level committee to lay down spend Bt3 billion to Bt4 billion to master plans to rehabilitate the help manufacturers – especially The cabinet has already approved... country. in the hardest-hit industries such Full story at http://goo.gl/fJfj7

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BANGKOK BUSINESS BRIEF December 2011

BANGKOK BU SINESS BRIEF

Briefs 5

General Inte

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Finance / Investment

http://goo.gl/wKeiJ

Thailand is attractive, despite floods: Mobius

Thailand should recover well from the disastrous floods, as impacts – including those on banks and non-bank corporates – should be short-lived, said Mark Mobius, a global investor and emerging markets fund manager. “We believe Thailand should also remain an attractive place for foreign direct investment (FDI) due to location advantages, a supportive business environment and highly competitive workforce. While devastating in the near-term, we believe that impact from the flooding should prove short-lived, and that Thailand should recover well from this disastrous event,” he said in his note in Franklin Templeton Management’s website.

December 20 11

rest

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

goo.gl/bH6P

F

Nature and life in JuliusCaesar. 1997-98 wa are cyclical _ the impact of s a blessing, as the mains seasons of the yea 2008 would ha above the Europ the phases of the r, life and death, far worse ve been ean average. for the region, mo http://goo.gl/o on, the tides. ” Azman In Caught up in da zbNM India, China ily details, we eas Mokhtar, the managing and Thailand, ily forget that dir ect of or Kh Asia stands to rou aza ghly 12 percent nah the business wo of has cycles, too. rld told the CI Nasional of Malaysia, tion contribute to a the populaWe are all fam MB Asean Confe gain from W pension, while iliar with the econo rence. the we es t mi ak c ne bu sse sin s ess of cycle His com slowdown of expansion, con sion system are Thailand’s penments were... ... covery. Howe traction and re- Full story Full story at htt The shift of eco ver, other cyc at http://goo.gl/d nomic growth p:/ /goo.gl/rtpH3 lic ph al fu2 en u om ena affect... momentum to the Thailand near Preventing up numerous East has opened Full story at http://goo.gl/fJ to p opportunities olr of list of wor that Asian countries Bangkok from out, suggests an should not miss Panel: Asia bett weakest pensld’s sinking bigges economist. io off, not immun er n t systems: stud challenge The robust eco y from global cr e, no Greece, India, Ch Land subsidence China and em mic growth of is es ina and Thailand erging economi caused by groun are home to the water losses top will open a ne es KUALA LUMPUR : The As d weake w s ian cri- pensi on systems in st national lems that must the list of probAsian economi opportunity for sis in the late 1990s was a wa es to increase the be the kesol cal up ved wo l for in rld cri Ba , the region that pp wealth from tra ir has turned eig led by a mix of acute sover- kok to mitigate the impact ngde in goods an out to be of the n debt, young climate change services at a tim a blessing in d retire dis e on States and Europ when the United nearly 15 years later, as the guise high ratios of pension ment ages, a study by multin flooding, says region’s ers an ers to worke ational agencies financial sec Full story at htt are... d . p://goo.gl/S65D6 able to sus tor is now strong and study poor pension take-up, a The conclusio showed. tain a certain n de is gre contained in of shocks from e Grow with th a rep ort the entitled “Clim e flow Western Hemi fallout in the The Allianz ate Risks and Ad of cycles sphere, accord ing sion Susta Global Investors Pen- Megac aptation in Asian Coastal to a panellist at a recent As inability Index, ities”, jointly con ‘There is a tid ean conference. ducted by the which Asian De tracks the rel e velop ati men, which, tak in the affairs of ity of nationa ve sustainabil- Internation ment Bank, the Japan l al leads on to for en at the flood, “There wi in 44 countries pension systems and the Wo Cooperation Agency ll be more crises tune”, wrote Wi around the wo rld Bank in 201 l- future, an in the showe rld, 0. d the Asian crisis in tirees d the number of Greek reThe report recom to people of wo rking age reFull story at htt mended a... p://goo.gl/20yMD Sponsored by

...

hurts the economy and curb corporate earnings, according to one of the nation’s top-ranked fund managers.

The benchmark SET Index, which closed yesterday at 983.44, may end this year below 1,000, said Prapas Tonpibulsak, chief investment officer at Krungsri Asset Management Ltd. That would be a drop of at least 4.8 percent for 2011, after gains of 41 percent in 2010 and 63 percent in 2009. Prapas previously had a year-end forecast of... Full story at http://goo.gl/bKr0e

Securities firms okayed to offer wholesale services Securities companies will be allowed to provide wholesale currency exchange services, says Finance Minister Thirachai Phuvanatnaranubala.

The Bank of Thailand has conducted a study on the possibility of securities firms expanding the scope of their business. Initially they can provide wholesale curThe executive chairman of Tem- rency exchange services, while repleton Asset Management expects tail currency exchange is reserved the banking sector to... for commercial banks. Full story at http://goo.gl/WAfLS Mr Thirachai said the expansion Baht outlook should be done step-by-step, but added securities companies... anyone’s guess Full story at http://goo.gl/JG96F The revival of business and economic activity after the floods Japan Plans Baht could provoke baht volatility after Loans to Aid many months of mild movement, Companies Hurt by analysts say.

Thai Floods

Some expect the Bank of Thailand to be more tolerant of market volatility as it implicitly promotes hedging among market players.

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

The Japanese government is preparing a loan program to aid companies operating in Thailand as the worst flooding in 50 years forces Toyota Motor Corp. and Nissan Motor Co. to shut factoSuchada Kirakul, a central bank ries. deputy governor, said last week that the bank had been more re- Loans would be backed by Japastrained in buying US dollars from nese government bonds and the the market to smooth volatility, Bank of Japan would be involved wanting private-sector actors to be in disbursing the baht funds in the more attuned to their own risks... event of cash shortages, Tsutomu Full story at http://goo.gl/WDsdx Okubo, a lawmaker and deputy policy chief for the ruling DemoThai Stocks to Halt cratic Party of Japan said in an interview in Tokyo yesterday. The Two-Year Gain on BOJ said today it is working with Floods Thailand’s central bank to arrange Thai stocks are set to halt a two- the program... year rally as “disastrous” flooding Full story at http://goo.gl/d9wZE

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BANGKOK BUSINESS BRIEF

Briefs Production

http://goo.gl/UrVpE

Export growth is lowest in 2 years

www.bangkokbusinessbrief.com

December 2011

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an to help Thai manufacturers not and Pathum Thani. yet affected by the floods to continue their operations. Amata operates two industrial estates in Chon Buri and Rayong. The tax waiver is urgently needed Hemaraj operates... because unusually high automo- Full story at http://goo.gl/zdxQg bile demand is expected, especialHigh-tech ly for versatile pickup trucks,... Full story at http://goo.gl/1CVn7 companies look

Year-on-year rise of 0.3% in soggy October: The effect of the flood Amata, Hemaraj’s crisis on a wide range of manu- dry estates well facturing sectors slowed October’s placed for 2012 export growth to only 0.3% yearon-year to US$17.2 billion, the Amata Corp and Hemaraj Land lowest rate in two years. and Development are expected to perform well in 2012 on expecDeputy Commerce Minister tations of increased demand for Siriwat Kachornprasart said the land in dry industrial estates in the plunge reflected production sus- aftermath of the floods, brokerage pensions among producers of ma- houses said. jor export items such as computers and electronics, electrical... DBS Vickers Securities (Thailand) Full story at http://goo.gl/6hp3G and CIMB Research shared the view that the two industrial estate Duty waiver urged developers would enjoy higher Automakers seek to cut parts costs: land sales next year, as none of The government is being urged to their estates was affected by the consider waiving duties on auto floods, which have inundated sevparts imported from outside Ase- en industrial estates in Ayutthaya

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Manufacturing Insights, revealed that 19 percent of high-tech company respondents plan to source supplies and raw materials from North America in... Full story at http://goo.gl/PnBzo

Thai Floods May Shift Japan beyond China for Investment to alternative sourcing Indonesia, Vietnam locations: Study Japanese companies, Thailand’s Rising costs in China are prompting high-tech companies in Asia to explore alternative sourcing locations within the region as wellas in North America, according to a new UPS-sponsored survey. As part of this shift, half of all high-tech trade lanes in five years’ time are expected to involve intra-Asia movements. “Moving ahead, we expect to see manufacturers placing greater emphasis on supply chain risk awareness and mitigation.” The survey, conducted by IDC

biggest foreign investors, may spend more to build factories in neighbors including Indonesia and Vietnam after the worst flooding in 70 years disrupted global production. “Executives recognize the concentration risk after the floods,” said Takahiro Sekido, chief Japan economist at Credit Agricole CIB in Tokyo. “The recent trend of accelerating investment into Thailand will cool despite the fact that Thailand was such an ideal destination.”... Full story at http://goo.gl/7e5lc

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Bangladesh

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

Vietnam


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BANGKOK BUSINESS BRIEF December 2011 2011

BANGKOK BU SINESS

BRIEF

Briefs 7

General Inte rest

Use the QR Code reader in your smartphone to see all the stories in a certain category.

December 20 11

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

goo.gl/bH6P Looking for Fa CFO? ...added that the set aside a signi company had budget of Bt20 ficant investment million for over0 million to Bt300 seas expansion Full story at http: . //goo.gl/bH6PF

Nature and life in JuliusCaesar. 1997-98 wa are cyclical _ the impact of s a blessing, as the mains seasons of the yea 2008 would ha above the Europ the phases of the r, life and death, far worse ve been ean average. for the region, mo http://goo.gl/o on, the tides. ” Azman In Caught up in da zbNM India, China ily details, we eas Mokhtar, the managing and Thailand, ily forget that dir ect of or Kh Asia stands to rou aza ghly 12 percent nah Nasional of the business wo Ma of has cycles, too . We are all fam rld told the CIMB Asean Co laysia, tion contribute to a the populagain from W nference. the pension, while iliar with the econo es t weaknesses of mi c bu sin ess cycle His com slowdown of expansion, sion system are Thailand’s pen-ments were... con ... covery. Howe traction and re- Full story Full story at htt The shift of eco ver, other cyc at http://goo.g nomic growth p://goo.gl/rtpH l/d lic ph al fu2 en u om ena affect... mo3 mentum to the Thailand near Preventing up numerous East has opened Full story at http://goo.gl/fJ to p opportunities olr of that Asian countries lis B an t of gk wor ok from out, suggests an should not miss Panel: Asia bett weakest pensld’s sinking bigges economist. ion off, not immun er t sy st challenge ems: study The robust eco from global cr e, no Greece, India, Ch Land subsiden China and em mic growth of is es ina ce and Thailand erging economi aare re h ho water losses top caused by ground om will open a ne es KUALA LUMPUR : The As me o tthe he w weeaake w k naattio s the list of pro ian cri- pensi e tto ion naal lems that on systems in esstt n Asian economi opportunity for sis in the late 1990s was a bmust wa es to increase the the kecal up wo l for rld cri , kok to mitig be solved in Bangthe region that ppled by a mi wealth from tra ir x ate ha of s turned eign the impact of acute soverde in goods an out to be the debt, young ret climate change services at a tim a blessing in d ire dis e on States and Europ when the United nearly 15 years later, as the guise high ratios of pension ment ages, a study by multin flooding, says region’s ers an ers e ational agencies financial sector Full story at htt are... d poor pension to work. is no w str ong and study p://goo.gl/S65D6 able to sus take-up, a Th showed. tain a certain e conclusion de is gre contained in of shocks from e Grow with th a rep ort the entitled “Clim e flow Western Hemi fallout in the The Allianz ate Risks and Ad of cycles sphere, accord ing sion Susta Global Investors Pen-- Megac aptation in Asian Coastal to a panellist at a recent As inability Index, ities”, jointly con ‘There is a tid ean conference. ducted by the which Asian De tracks the rel e velop ati men, which, tak in the affairs of ity of nationa ve sustainabil- Internation ment Bank, the Japan l al leads on to for en at the flood, “There wi in 44 countries pension systems and the Wo Cooperation Agency ll be more crises tune”, wrote Wi around the wo rld Bank in 201 l- future, an in the showe rld, 0. d the Asian crisis in tirees d the number of Greek reThe report recom to people of wo rking age remended a... Fu ll story at http:/ + /goo.gl/20yMD Sponsored by ...

Infrastructure/Logistics in Australia while also looking for opportunities in New Zealand.

The move comes after Ratchaburi through its wholly owned RH Inhttp://goo.gl/Tg0b7 ternational (Singapore) CorporaPTE in March bought 56.16% Don Mueang rehab tion of Australia’s Transfield Services costly Infrastructure (TSI) Fund for 6.7 Restoring the inundated Don billion baht. Mueang airport could cost nearly a billion baht based on a conserva- TSI Fund operates eight power tive preliminary estimate, but the plants in Australia. amount could shoot up to several billion if the damage proves to be Ratchaburi in June officially be-more extensive. came the largest shareholder in... Full story at http://goo.gl/xUWXk Such a prohibitive cost could make a dent in the balance sheet of Air- Japan ready to offer ports of Thailand Plc (AoT), add-- infrastructure loans ing to falling revenue as a result Japan is prepared to offer unlimit-of declining air traffic through its ed soft loans for 40 years at interest main airport, Suvarnabhumi, as of less than 1% to the Thai govern-floods have driven away travellers. ment to help fund infrastructure to prevent floods and drought in But the good news is the burden the long term. of restoring the country’s secondlargest airport will be partly borne The loans would be made through by the national coffers and new the Japan International Cooperafinancial aid pledged on Wednes-- tion day by US Secretary of State Hillary Clinton. Agency, said Energy Minister Pichai Naripthaphan, who met yesThe SET-listed and majority state- terday with JICA executives and owned airport operator is seek- Japanese Ambassador Seiji Koing... jima. Full story at http://goo.gl/GU5xi Mr Pichai said the Japanese govRelief sought for ernment suggested Thailand in-vest in projects that could... stranded cargo Full story at http://goo.gl/rJCFr Exporters and importers want the Port Authority of Thailand Cause and effect (PAT), the Customs Department Thailand has endured a perfect and banks to ease regulations and storm of factors, both natural and waive fees collected on containers man-made, that have starkly exstranded in port by the months- posed the consequences of poor long flooding. planning and management. Thongyu Khongkhan, a vice-president of the Thai Logistics Services Provider Federation, said thousands of containers are stranded in Klong Toey and Laem Chabang ports because the factories that ordered the cargo are now inundated.

When all is said and done, the 2011 flood will certainly rank among the worst in modern Thai history.

The numbers are monumental. One-third of the country under water. Nearly 10 million people affected. Up to 1 million now un-The cargo comprises raw materi-- employed, with economic losses als, equipment, machinery, parts... estimated as high as 500 billion Full story at http://goo.gl/pv6BB baht, or 5% of gross domestic product.

Ratch moves on Australia

Ratchaburi Electricity Generating Holding Plc, Thailand’s largest private power producer, is poised to expand its energy operations

Why? Yes, there is no question that rainfall this year has been heavy, at 20-30% over seasonal averages. But this is a... Full story at http://goo.gl/xpUeI

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8

BANGKOK BUSINESS BRIEF

Briefs Retail/Services

http://goo.gl/QyrTE

Retailers slash 2011 growth estimates to 4-5 per cent

www.bangkokbusinessbrief.com

December 2011

To read the full article of a story brief, enter the short code at the end of the story into your browser: terCardcard, at Dubai Airports. Aiming primarily at airport clientele, the card offers over 50 million passengers annually travelling through Dubai International a convenient and safe method to make airport purchases in local currency (AED).

“We are very excited about the... The retail market is expected to Full story at http://goo.gl/pHO7i be a big loser, with 2011 growth slashed from the 7-8 per cent pre- Foreign reinsurers dicted earlier to only 4-5 per cent, likely to set new as the massive flood dampens conditions shopper sentiment. Foreign reinsurers will not leave “Many commodities have been Thailand despite the huge estimate packed in survival kits and do- of claims from the flooding but nated to flood victims. This causes they will impose more conditions many products to disappear from and hike premiums. the retail system,” Chatchai Tuangrattanapan, director of the Thai... “Like in other industries, reinsurFull story at http://goo.gl/fGbFd ers have to continue doing business but they will try to balance First airport prepaid their losses with income. They may consider with their customers card launched MasterCard Worldwide on Nov [insurance companies] new con2 launched DXB Connect, the ditions to balance benefits,” Pichit world’s first airport prepaid Mas- Mekkittikul, managing director

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

goo.gl/bH6PF

of Independent Consultant Co, a provided by Thailand’s Office of leading local insurance brokerage, the Insurance Commission. said last week. Thailand’s floods may cause about The flood crisis will prompt the 140 billion baht of financial daminsurance business, including in- age to manufacturers in the... surers, reinsurers and insurance Full story at http://goo.gl/PpWKC brokers, to talk about the new... Full story at http://goo.gl/pOb2A Thirachai: Insurers

need to be won Thai Flood May Lead to $2.5 Billion in restoring confidence Payout by Japan Thailand risks losing its attractiveInsurers ness as an Asean manufacturing Japan’s casualty insurers may face about 190 billion yen ($2.5 billion) in net payouts to cover damages from Thailand’s floods, according to Deutsche Bank AG.

Japanese property and casualty insurers have underwritten as much as 70 percent of seven flooded industrial estates in Thailand that are facing about 410 billion baht ($13 billion) in damages, Masao Muraki, a Tokyo-based analyst at Deutsche Securities Inc., said in a report yesterday, citing estimates

hub among foreign investors if the country cannot rebuild confidence within the insurance community that this year’s floods will not be repeated, says Finance Minister Thirachai Phuvanatnaranubala. Insurers have not begun a comprehensive assessment of flood losses. The Office of the Insurance Commission tentatively put losses at 140 billion baht, including damages to seven industrial estates in Ayutthaya and Pathum Thani.... Full story at http://goo.gl/u27XA

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2

BANGKOK BUSINESS BRIEF December 2011

BANGKOK BU SINESS BRIEF

Briefs 9

General Inte

Use the QR Code reader in your smartphone to see all the stories in a certain category.

IT / Comms

http://goo.gl/VwYn9

Huawei hails Thailand as regional hub

Huawei Technologies is forging ahead with expansion of its new enterprise business to ride emerging-market growth. The Chinese ICT provider uses Thailand as its regional headquarters for enterprise business in Southeast Asia. Yang Hua, the president of enterprise business at Huawei Technologies in Southeast Asia, calls Thailand a top-three priority market for enterprise business in terms of revenue contribution in Asia, next to Hong Kong and Taiwan.

December 20 11

rest

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The National Broadcasting and Telecommunications Commission (NBTC) might consider revising the regulations governing foreign dominance of the telecom sector amid concerns that the current rules might contravene the country’s free-trade principles. The watchdog’s telecom committee will hold a hearing among specific groups of people on November 30 about the regulations, NBTC commissioner Sutipol Thaweechaikarn said. After the hearing, the commission will see whether they need to be... Full story at http://goo.gl/oyTyq

CAT, True to discuss antimonopoly amend

goo.gl/bH6P F Award-winning ZUMA opens sixth restaurant in Bangkok

Nature and life in JuliusCaesar. 1997-98 wa are cyclical _ the impact of s a blessing, as the mains seasons of the yea 2008 would ha above the Europ the phases of the r, life and death, far worse ve been ean average. for the region, mo http://goo.gl/o on, the tides. ” Azman In Caught up in da zbNM India, China ily details, we eas Mokhtar, the managing and Thailand, ily forget that dir ect of or Kh Asia stands to rou aza ghly 12 percent nah the business wo of has cycles, too. rld told the CI Nasional of Malaysia, tion contribute to a the populaWe are all fam MB Asean Confe gain from W pension, while iliar with the econo rence. the we es t mi ak c ne bu sse sin s ess of cycle His com slowdown of expansion, con sion system are Thailand’s penments were... ... covery. Howe traction and re- Full story Full story at htt The shift of eco ver, other cyc at http://goo.gl/d nomic growth p:/ /goo.gl/rtpH3 lic ph al fu2 en u om ena affect... momentum to the Thailand near Preventing up numerous East has opened Full story at http://goo.gl/fJ to p opportunities olr of list of wor that Asian countries Bangkok from out, suggests an should not miss Panel: Asia bett weakest pensld’s sinking bigges economist. io off, not immun er n t systems: stud challenge The robust eco y from global cr e, no Greece, India, Ch Land subsidence China and em mic growth of is es ina and Thailand erging economi caused by groun are home to the water losses top will open a ne es KUALA LUMPUR : The As d weake w s ian cri- pensi on systems in st national lems that must the list of probAsian economi opportunity for sis in the late 1990s was a wa es to increase the be the kesol cal up ved wo l for in rld cri Ba , the region that pp wealth from tra ir has turned eig led by a mix of acute sover- kok to mitigate the impact ngde in goods an out to be of the n debt, young climate change services at a tim a blessing in d retire dis e on States and Europ when the United nearly 15 years later, as the guise high ratios of pension ment ages, a study by multin flooding, says region’s ers an ers to worke ational agencies financial sec Full story at htt are... d . p://goo.gl/S65D6 able to sus tor is now strong and study poor pension take-up, a The conclusio showed. tain a certain n de is gre contained in of shocks from e Grow with th a rep ort the entitled “Clim e flow Western Hemi fallout in the The Allianz ate Risks and Ad of cycles sphere, accord ing sion Susta Global Investors Pen- Megac aptation in Asian Coastal to a panellist at a recent As inability Index, ities”, jointly con ‘There is a tid ean conference. ducted by the which Asian De tracks the rel e velop ati men, which, tak in the affairs of ity of nationa ve sustainabil- Internation ment Bank, the Japan l al leads on to for en at the flood, “There wi in 44 countries pension systems and the Wo Cooperation Agency ll be more crises tune”, wrote Wi around the wo rld Bank in 201 l- future, an in the showe rld, 0. d the Asian crisis in tirees d the number of Greek reThe report recom to people of wo rking age reFull story at htt mended a... p://goo.gl/20yMD Sponsored by

...

amending their contracts for joint development of 3G business to bring them in line with the national broadcasting and telecom watchdog’s anti-monopoly regulations.

CAT chief executive officer Jirayuth Rungsrithong said yesterday that his agency had asked the National Broadcasting and Telecommunications Commission (NBTC) to extend the amendment deadline to the end of this month from early November, given that he had to submit the case for... Full story at http://goo.gl/3iRBH

Thais spend average 17hrs online per week

Thai digital consumers spend average 17 hours per week online, thanks to rapid high-speed internet access and WiFi as well as increasing ownership of mobile connected devices, according to the Since setting up the local unit in inaugural Nielsen Southeast Asia March, Mr Yang says Huawei has Digital Consumer Report. high hopes for the local enterprise business and foresees growth in Time spent online surpasses time line with revenue targets. spent on traditional media such as television, radio or print. Huawei is aiming for global enterprise revenue to double to US$4... Examining the digital media habits Full story at http://goo.gl/vuKGt and attitudes, the report revealed that Thailand digital consumers NBTC open spend almost three quarters (72 per cent), engage in multi-media... to amending Full story at http://goo.gl/TltEY regulations on

foreign investors

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

Local IT spending likely to take 4% hit this year

Flooding is projected to reduce IT spending in Thailand by 4% to 182.4 billion baht this year under the best-case scenario, says a global research firm. IDC Thailand revised its IT spending growth forecast for 2011 down from 14% to 10%, as the three main growth drivers have been hit hard by the country’s worst floods in 70 years. Spending from government, corporate and consumer segments make up relatively equal portions of the country’s overall IT spending.

But leading IT retail chains foreCAT Telecom and True Corp see total IT sales could fall by up... group next week will discuss Full story at http://goo.gl/YpML4

Co-founders of ZUMA, Chef Rainer Becker and Arjun Waney, have opened their sixth restaurant in Bangkok recently. This sixth and latest opening, brings ZUMA’s award-winning contemporary interpretation of the Japanese izakaya style of informal eating and drinking to the capital of Thailand. ZUMA Bangkok is centrally located on the ground level of The St. Regis Hotel and offers an oasis in which to enjoy its award winning cuisine. Diners can look forward to ZUMA’s delicious signature dishes on the menu, such as Suzuki No Osashimi (Thinly sliced sea bass with yuzu, truffle oil and salmon roe), Gyuhire Sumibiyaki Karami Zuke (Spicy beef tenderloin with sesame, red chilli and sweet soy) Dynamite Spider Maki Roll (Soft shell crab, chilli mayonnaise, cucumber and wasabi tobiko sauce) and Tsubumiso Gake Hinadori No Obun Yaki (Baby chicken

marinated in barley miso, oven roasted on cedar wood). In addition, the talented bar team and sommeliers have created an exciting cellar featuring a total of 1,500 bottles of some of the world’s best wines, Champagnes and sake. The menu at ZUMA is designed for sharing. The dishes come from three different kitchens; the main kitchen, robata counter and sushi bar. The combination of the three different cooking styles results in a mixture of tastes, temperatures and textures that create an exciting and fun dining experience. “We are delighted to be opening our sixth restaurant in Bangkok. The city’s lively cosmopolitan, yet traditional character very much complements ZUMA’s energy”, said Chef Rainer Becker. “Zuma is a modern Japanese restaurant, yet it respects tradition in not only the food but also in the design and approach.”


10

BANGKOK BUSINESS BRIEF

Briefs Tourism

www.bangkokbusinessbrief.com

December 2011

To read the full article of a story brief, enter the short code at the end of the story into your browser:

Making the most of wellness tourism

Spiritual & holistic services are set to be the most important ashttp://goo.gl/fxE4d sets and demand components of the health and wellness sector in Post-flood rehab the Far East and South East Asia plan for tourism by 2020, according to a research report distributed at the World sector With the impact of the severe Travel Market 2011 here last week. flooding on the tourism industry estimated at Bt70 billion, interna- Published by Wellness Tourtional and local tourism organisa- ism Worldwide (WTW), a newly tions are discussing ways of pro- formed alliance of wellness and tecting the sector against future tourism related businesses, ordisasters. ganisations and institutions, the research also forecasts that private The Pacific Asia Travel Associa- health insurance will... tion (PATA) will host a meeting Full story at http://goo.gl/M8D3s in Bangkok on Wednesday(Nov 23) focusing on the impacts of the TAT turns to S flood crisis and ways to rebuild the America as Europe, tourism industry. US arrivals slow

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

downturns there. The authority is focusing on two big emerging markets, Brazil and Argentina, by matching Thai operators with the two countries. The TAT recently took officials from four Thai travel firms to Brazil to promote tourism products such as Thai cultural activities, spas, beaches and food. The agency also planned to... Full story at http://goo.gl/8nZg6

Thailand set to make strong pitch at London travel mart

The public and private sectors are putting up a strong showing at the World Travel Market in London this week to entice visitors back with the message that Thailand is According to Suraphon Svetas- The Tourism Authority of Thai- nearly past the flood crisis. reni, governor of the Tourism land (TAT) is targeting visitors Authority of Thailand (TAT), the from South America as arrivals “It should be clear by now that tourism sector has... from Europe and North America the flooding situation will soon Full story at http://goo.gl/PGwcX slow due to fears of economic be over, and people will need

goo.gl/bH6PF

to resume their normal lives,� Juthaporn Rerngronasa, deputy governor at the Tourism Authority of Thailand (TAT) for marketing to Europe, Africa, the Middle East and the Americas, said yesterday. Although the floods have affected a large proportion of the country, they are expected to recede in a few weeks, allowing the Thai travel trade plenty of opportunity to prepare for... Full story at http://goo.gl/G8fkX

MICE industry to return to normal in Q3 Thailand Convention and Exhibition Bureau (TCEB) vows to recover the MICE industry within June 2012, after cancellations because of floods. Akapol Sorasuchart, president of TCEB, said after a brainstorming session with business operators today that the industry has lost... Full story at http://goo.gl/dc5Ae


2

BANGKOK BUSINESS BRIEF December 2011

BANGKOK BU SINESS BRIEF

Briefs 11

General Inte

Use the QR Code reader in your smartphone to see all the stories in a certain category.

Real Estate

http://goo.gl/hPK52

December 20 11

rest

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

...

F

of the deals were completed in July and transaction volumes tapered off in the following two months, according to CB Richard Ellis

There will be a renewal of interest Tony Picon, associate director of in condominium projects after the research, said last week that buyrecent slowdown due to concerns ers are waiting to see the full picof a bubble. ture emerge before stepping in, and developers are taking note Residents have seen that low-rise and delaying... detached houses and townhouses Full story at http://goo.gl/r8k5k became vulnerable during the reNew land valuations cent flooding and hence there is to be a surge in demand for likely to rise by 20% likely condominiums. Developers are on average expected to... Full story at http://goo.gl/1xAQi The Treasury Department is preparing to announce an average Don’t panic! increase of 20% in land valuations The floods and nationwide but it has not yet taken the impact from current flooding Bangkok’s property into account, says director-general prices Naris Chaiyasoot. Thailand is in the grip of a flood However, officials suggested the crisis that seems to have affected floods may give property devel- everyone both physically and opers an opportunity to buy land mentally – especially residents of at lower cost in some areas where Bangkok, where there is a sense owners want to sell because they of panic. have faced flooding or fear future flood risk. One of the questions that those in the real-estate sector should be As well, general investors will see ready to answer is how the curthis as an opportunity to... rent flooding will impact propFull story at http://goo.gl/wn6wc erty prices. I shall try to address that question based on studies Commercial deals from around the world. Commercial real estate sales in Asia-Pacific increased 36% quarter-on-quarter during the third quarter of 2011, althoughthe bulk

goo.gl/bH6P

Nature and life in JuliusCaesar. 1997-98 wa are cyclical _ the impact of s a blessing, as the mains seasons of the yea 2008 would ha above the Europ the phases of the r, life and death, far worse ve been ean average. for the region, mo http://goo.gl/o on, the tides. ” Azman In Caught up in da zbNM India, China ily details, we eas Mokhtar, the managing and Thailand, ily forget that dir ect of or Kh Asia stands to rou aza ghly 12 percent nah the business wo of has cycles, too. rld told the CI Nasional of Malaysia, tion contribute to a the populaWe are all fam MB Asean Confe gain from W pension, while iliar with the econo rence. the we es t mi ak c ne bu sse sin s ess of cycle His com slowdown of expansion, con sion system are Thailand’s penments were... ... covery. Howe traction and re- Full story Full story at htt The shift of eco ver, other cyc at http://goo.gl/d nomic growth p:/ /goo.gl/rtpH3 lic ph al fu2 en u om ena affect... momentum to the Thailand near Preventing up numerous East has opened Full story at http://goo.gl/fJ to p opportunities olr of list of wor that Asian countries Bangkok from out, suggests an should not miss Panel: Asia bett weakest pensld’s sinking bigges economist. io off, not immun er n t systems: stud challenge The robust eco y from global cr e, no Greece, India, Ch Land subsidence China and em mic growth of is es ina and Thailand erging economi caused by groun are home to the water losses top will open a ne es KUALA LUMPUR : The As d weake w s ian cri- pensi on systems in st national lems that must the list of probAsian economi opportunity for sis in the late 1990s was a wa es to increase the be the kesol cal up ved wo l for in rld cri Ba , the region that pp wealth from tra ir has turned eig led by a mix of acute sover- kok to mitigate the impact ngde in goods an out to be of the n debt, young climate change services at a tim a blessing in d retire dis e on States and Europ when the United nearly 15 years later, as the guise high ratios of pension ment ages, a study by multin flooding, says region’s ers an ers to worke ational agencies financial sec Full story at htt are... d . p://goo.gl/S65D6 able to sus tor is now strong and study poor pension take-up, a The conclusio showed. tain a certain n de is gre contained in of shocks from e Grow with th a rep ort the entitled “Clim e flow Western Hemi fallout in the The Allianz ate Risks and Ad of cycles sphere, accord ing sion Susta Global Investors Pen- Megac aptation in Asian Coastal to a panellist at a recent As inability Index, ities”, jointly con ‘There is a tid ean conference. ducted by the which Asian De tracks the rel e velop ati men, which, tak in the affairs of ity of nationa ve sustainabil- Internation ment Bank, the Japan l al leads on to for en at the flood, “There wi in 44 countries pension systems and the Wo Cooperation Agency ll be more crises tune”, wrote Wi around the wo rld Bank in 201 l- future, an in the showe rld, 0. d the Asian crisis in tirees d the number of Greek reThe report recom to people of wo rking age reFull story at htt mended a... p://goo.gl/20yMD Sponsored by

Transaction volume in Asia grew 55% quarter-on-quarter while the Condo sales Pacific was largely unchanged, acsuffered in Q3 cording to CBRE’s Asia-Pacific The condominium market’s Capital Markets MarketView regrowth was severely curtailed last port. quarter by doubts over the government’s policy to offer incentives to The total volume of cross-border first-home buyers, according to acquisitions across Asia-Pacific Colliers International Thailand’s rose by 112% quarter-on-quarter latest research report. although this was largely due to... Full story at http://goo.gl/LaTGh Just 3,000 units were launched in the third quarter, down 74 per Floods likely to cent from 11,600 in the second renew interest in quarter and the lowest number condos recorded in the past three years. Developers, banks poised for The incentives favour properties move into reviving segment: that are already under construcHome-buyers are likely to shift tion and can be completed before their focus to condominiums and the end of next year, as that would ensure housing projects in the prove to be an extremely chalprovinces are in flood-free zones, lenging time-frame for any newly according to bank executives. launched condominium project.

healthy

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

Floods have hit many cities around the world, prompting studies by researchers... Full story at http://goo.gl/pgT8c

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12

BANGKOK BUSINESS BRIEF

Briefs

www.bangkokbusinessbrief.com

December 2011

To read the full article of a story brief, enter the short code at the end of the story into your browser:

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

commitment toward the global more efficient units. emissions-reduction agenda, experts say. The money has been allocated largely from the Energy ConserWith the Kyoto Protocol about to vation Fund. http://goo.gl/Y09sv expire next year, uncertainties exist about the climate change target Machinery and other equipment Thailand rebuffs and a new agreement of compa- used in production such as... green tariff proposal rable scale to be reached for 2013 Full story at http://goo.gl/TQjHr Proposal seen as too soon, too and beyond.... much: Thailand disagreed with a Full story at http://goo.gl/N8VsV Kingdom’s ambitious US proposalto accelerate the tariff renewable-energy cut for 153 environmental-related B1.55bn slated for sector attracts China products and services to 5% by green equipment next year under a “green growth” The recent announcement that promotion at the Asia The government has earmarked China’s Suntech Power Holdings, 1.55 billion baht in grants and soft the world’s largest solar-energy Pacific Economic Cooperation loans for businesses that agree to company, is considering invest(Apec), saying the country would participate in an energy-saving ing in a solar-cell assembly plant not be ready for the programme and production efficiency en- in Thailand is welcome news and until 2015. hancement programme. hopefully a sign of more good things to come. Srirat Rastapana, director-general... Twarath Sutabutr, deputy direcFull story at http://goo.gl/5g9gD tor-general of the Alternative Thailand, over the best part of Energy Development and Effi- the past decade, has successfully Life after Kyoto ciency Department, said several established itself as Southeast Despite the bleak outlook of the thousand small and medium- Asia’s largest renewable-energy post-2012 international carbon sized enterprises with flood- market, offering strong incenagreement, Asia has shown signs damaged machinery and equip- tives to attract investment in all that demonstrate the region’s ment can replace them with forms of renewables, from bio-

Environment / CSR

goo.gl/bH6PF

mass to solar energy. As China’s demand for renewable energy keeps growing, Thailand has a real opportunity to do more business of this kind with Chinese firms... Full story at http://goo.gl/zxaDP

Companies want to make a difference Good Corporate Citizenship and Corporate Social Responsibility (CSR) have gone beyond just marketing communication activities and become the core DNA of business organisations, experts said recently. Speaking at the seminar on “Driving Good Corporate Citizenship” organised recently by Krungthep Turakij newspaper, Dr Krittinee Nuttavuthisi, assistant professor at Sasin Graduate Institute of Business Administration of Chulalongkorn University, Bangkok, said that many companies earlier recognised CSR campaigns as... Full story at http://goo.gl/jYrSd

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BANGKOK BUSINESS BRIEF December 2011

BANGKOK BU SINESS BRIEF

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

Speed up or we’ll miss out on AEC : Asean chief

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F

Nature and life in JuliusCaesar. 1997-98 wa are cyclical _ the impact of s a blessing, as the mains seasons of the yea 2008 would ha above the Europ the phases of the r, life and death, far worse ve been ean average. for the region, mo http://goo.gl/o on, the tides. ” Azman In Caught up in da zbNM India, China ily details, we eas Mokhtar, the managing and Thailand, ily forget that dir ect of or Kh Asia stands to rou aza ghly 12 percent nah the business wo of has cycles, too. rld told the CI Nasional of Malaysia, tion contribute to a the populaWe are all fam MB Asean Confe gain from W pension, while iliar with the econo rence. the we es t mi ak c ne bu sse sin s ess of cycle His com slowdown of expansion, con sion system are Thailand’s penments were... ... covery. Howe traction and re- Full story Full story at htt The shift of eco ver, other cyc at http://goo.gl/d nomic growth p:/ /goo.gl/rtpH3 lic ph al fu2 en u om ena affect... momentum to the Thailand near Preventing up numerous East has opened Full story at http://goo.gl/fJ to p opportunities olr of list of wor that Asian countries Bangkok from out, suggests an should not miss Panel: Asia bett weakest pensld’s sinking bigges economist. io off, not immun er n t systems: stud challenge The robust eco y from global cr e, no Greece, India, Ch Land subsidence China and em mic growth of is es ina and Thailand erging economi caused by groun are home to the water losses top will open a ne es KUALA LUMPUR : The As d weake w s ian cri- pensi on systems in st national lems that must the list of probAsian economi opportunity for sis in the late 1990s was a wa es to increase the be the kesol cal up ved wo l for in rld cri Ba , the region that pp wealth from tra ir has turned eig led by a mix of acute sover- kok to mitigate the impact ngde in goods an out to be of the n debt, young climate change services at a tim a blessing in d retire dis e on States and Europ when the United nearly 15 years later, as the guise high ratios of pension ment ages, a study by multin flooding, says region’s ers an ers to worke ational agencies financial sec Full story at htt are... d . p://goo.gl/S65D6 able to sus tor is now strong and study poor pension take-up, a The conclusio showed. tain a certain n de is gre contained in of shocks from e Grow with th a rep ort the entitled “Clim e flow Western Hemi fallout in the The Allianz ate Risks and Ad of cycles sphere, accord ing sion Susta Global Investors Pen- Megac aptation in Asian Coastal to a panellist at a recent As inability Index, ities”, jointly con ‘There is a tid ean conference. ducted by the which Asian De tracks the rel e velop ati men, which, tak in the affairs of ity of nationa ve sustainabil- Internation ment Bank, the Japan l al leads on to for en at the flood, “There wi in 44 countries pension systems and the Wo Cooperation Agency ll be more crises tune”, wrote Wi around the wo rld Bank in 201 l- future, an in the showe rld, 0. d the Asian crisis in tirees d the number of Greek reThe report recom to people of wo rking age reFull story at htt mended a... p://goo.gl/20yMD Sponsored by

...

ASEAN losing steam: Moody’s Analytics

The downbeat global environment will weigh on growth across all five ASEAN members: A research unit Doubts over of Moody’s Investors Service said readiness of in a report that the deteriorating ‘Corporate ASEAN’ external situation will cap ASEAN growth below trend at about by 2015 4.8 per cent in 2011, and slightly Among major Asean member weaker in 2012. countries, internal dynamics are at play. “Thai industry is growing at two speeds, with producers selling to Malaysian leaders are busy on the domestic market faring betoverseas trip to lure foreign in- ter than their export-dependent vestors highlighting sustained in- counterparts — textiles, clothvestment in knowledge and skills; ing and electronics are feeling the Singporean SMEs are mitigating pinch from a weaker global econacross the region; Indonesians – omy. The floods in Thailand... brimmed with democratic and lib- Full story at http://goo.gl/RL2dz eralization progress – are putting domestic economy on a firm foot- Blair: Don’t ing; the Philippines are starting to hesitate, integrate tie in to the regional supply chain In a recent address in Kuala Lumto boost employment and growth; pur, the former British prime minand major Thai corporations are ister urged Asean to learn lessons advancing across the borders in from the EU’s mistakes and remain on track for tighter regional greater force than ever before. unity. Is Asean Economic Community (AEC) indeed poised to become a KUALA LUMPUR : Despite the watershed in the advancement of recent perils experienced by the 27 the 10-member regional bloc as it members of the European Union, takes effect in 2015? Not quite so... the 10-member Asean grouping is Full story at http://goo.gl/zc5vi still being encouraged to keep the unification momentum going. http://goo.gl/PaEbK

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

“Integration is a good idea, and Europe today has achieved a lot over the years through this proAsean sect gen says Thailand is cess,” said former British prime moving too slowly in preparing minister Tony Blair, who... for 2015 community – Surin Pit- Full story at http://goo.gl/cmyNJ suwan, secretary-general of the Association of Southeast Asian Asia-Pacific Nations, last week voiced concern CEOs have strong over Thailand’s slow pace of preparation for the Asean Economic confidence in Community, when seven profes- growth sions will be the first areas of the More than half of CEOs in the labour market to be freed up in Asia-Pacific region are ‘very con2015. fident’ of increased revenue for their companies over the next “If we’re not prepared, we’re not three to five years, up slightly qualified, we’re not able to com- from a year ago. More than 40 pete while others are moving into per cent of CEOs say their single the Thai economy and landscape. greatest opportunity for growth I’m worried that they will take ad- will stem from the rise in spendvantage of our country,” he said. ing power in Asia, particularly in China. These were the key findHe was speaking at the Asia Edu- ings from a survey by PwC of cation Leaders Forum co-locat- more than 320 CEOs across 26 ed with Worlddidac Asia at the countries, including the 21 APEC Queen Sirikit National... economies, for the Asia-Pacific... Full story at http://goo.gl/Ch910 Full story at http://goo.gl/d80G8


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14

BANGKOK BUSINESS BRIEF

BANGKOK BU SINESS BRIEF

Briefs

December 20 11

www.bangkokbusinessbrief.com

December 2011

The Chambers

General Inte

rest

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

Use your smartphone’s QR Code scanner or enter the short code to go directly to AMCHAM’s website.

...

The American Chamber of Commerce in Thailand (AMCHAM Thailand) 7th Floor, GPF Witthayu Tower A, 93/1 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Tel: +66 (0)2 254 1041 Fax: +66 (0)2 251 1605 Website: www.amchamthailand.com Email: service@amchamthailand.com AMCHAM would like to recognize our member companies who are actively supporting Thai communities. This support includes emergency aid to assist flood victims and longterm community partnerships, such as corporate social responsibility programs that will benefit communities for years to come.

tributed financial and personnel • D  ow Chemical Thailand donatassistance, which includes the fol- ed Baht 200,000, and Dow emlowing contributions: ployees donated Baht 135,000, to • Citibank has contributed Baht the Thai Red Cross; the company 13.7 million to the Thai Red also allocated Baht 250,000 for Cross and Citi staff have volun- post-flood farmer assistance; teered at Don Muang and Ayu- • F  edEx Express has donated Baht thaya relief centers; 450,000 and 100, ten kilogram, • Chevron have made several con- relief packages to the Thai Red tributions, totaling Baht 66 mil- Cross; Assistance to Flood Victims lion; • Ford Motor Company has donated In response to the flood, AM- • Coca-Cola has donated 500,000 Baht one million to the Thai Red CHAM companies have conbottles of drinking water; Cross and made available five Ford Ranger and Everest vehicles for their ongoing relief activities; •G  eneral Electric has assisted in Ayutthaya Province with two water purifying units and its staff has distributed relief packages; • Hemaraj Land And Development has assisted the Saraburi community with a donation of Baht one million and diesel fuel for water pumps, portable water pumps, sand bags and food and water; • S eagate Technology (Thailand) has donated Baht 30 million, distributed to the Chaipattana Foundation, the Thai Red Cross and Give2Asia. Seagate employees worldwide have made on-line pledges to the Thai Red Cross and Give2Asia totaling over Baht three million. Most importantly, according to a recent AMCHAM Thailand survey, not one American business has reported closing their Thailand operations due to the flooding. AMCHAM CSR awards On November 23, AMCHAM presented 27 companies with ACE recognitions, an appreciation presented by the AMCHAM Corporate Social Responsibility Excellence Recognition Program (ACE).

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http://goo.gl/mbUpG To qualify for an ACE recognition, a firm’s corporate responsibility program must receive high-marks in the following categories: • Attention to business objectives and societal needs. • Creation of long-term economic and social gains. • Communication and sharing of best practices. • Program sustainability. The following firms are the 2011 ACE recipients: • Black & Veatch • Central Food Retail Company • Chevron Thailand Exploration & Production • Citibank • Coca-Cola • Dow Chemical • English Solutions • Esso (Thailand) • FedEx Express • Ford Motor Company • Four Seasons Hotel Bangkok • GlaxoSmithKline • Grand Hyatt Erawan Bangkok • Hemaraj Land and Development • Hongkong and Shanghai Banking • Microsoft • Minor International • MSD Thailand • Philip Morris • Pfizer • Proctor & Gamble • PTT Global Chemical • Santa Fe Relocation Services • Seagate Technology • Standard Chartered Bank • Waste Management Siam • YUM Restaurants “AMCHAM congratulates our 27 member companies whose principled business and community practices benefited their employees, business partners and the people of Thailand,” stated AMCHAM President, Peter Eliot.


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16

BANGKOK BUSINESS BRIEF

BANGKOK BU SINESS BRIEF

Briefs

December 20 11

www.bangkokbusinessbrief.com

December 2011

The Chambers

General Inte

rest

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

Use your smartphone’s QR Code scanner or enter the short code to go directly to AustCham’s website.

...

The Australian-Thai Chamber of Commerce (AustChamThailand) 20th Floor, Thai CC Tower, 889 South Sathorn Road, Yannawa, Bangkok 10120 Tel: +66 (0)2 210 0216-8 Fax: +66 (0)2 675 6696 Website: www.amchamthailand.com Email: admin@austchamthailand.com The Australian-Thai Chamber of Commerce (AustCham Thailand) is delighted to be included in the Bangkok Business Brief. This page will be used to keep readers up-to-date with the Chamber’s latest activities and events. As we’re wrapping up a busy 2011, we continue to reflect on our overall activity and work processes whilst preparing for the year ahead. We averaged more

http://goo.gl/N47Gg

than one event per week in 2011, serving some 7,000 customers. Next year will be a special year for us as it will mark the 60th year of Diplomatic Relations between Australia and Thailand. This promises to bring with it many opportunities to celebrate friendship, and will be a time for the Thai-Australia relationships to shine! It will be a great year to be associated with the Chamber. For the flooded month of November, over half the AustCham staff were affected directly by the water alongside their members – some of whom have suffered significant loss. To contribute to the flood response and recovery process, AustCham held two panel discussions with high-profile industry leaders who spoke on a broad range of topics including the causes of the flood, media management strategies and specialised cleaning processes for offices and factories.

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During November we also had a rare opportunity to dine with, and hear the story of, renowned Australian chef David Thompson. His restaurant ‘nahm’ opened for lunch for the first time ever and served the traditional Thai dish ‘ka nom jeen’ to over 50 members and guests. This was a truly special experience of culture and cuisine. For your calendar in December, the Australian Ambassador to Thailand, H.E. James Wise, and his wife Teresa are once again kindly hosting AustCham and its members for Christmas Sundowners at their residence. AustCham is pleased to extend this invitation to members and thanks the Ambassador and his wife for their hospitality.

2012 Sponsorship Packages Available NOW! Join AustCham’s Corporate Sponsors receive unbeatable brand promotion and access to exclusive benefits.

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Contact the AustCham Office for further details. Phone: +66 2 210 0216 Email: admin@austchamthailand.com


2

BANGKOK BU SINESS BRIEF

December 20 11

Briefs 17

www.bangkokbusinessbrief.com

BANGKOK BUSINESS BRIEF December 2011

The Chambers

General Inte

rest

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

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British Chamber of Commerce Thailand (BCCT) 7th Floor, 208 Wireless Road, Lumphini, Pathumwan, Bangkok 10330 Tel: +66 (0)2 651 5350-3 Fax: +66 (0)2 651 5354 Website: www.bccthai.com Email: greg@bccthai.com ABOUT Established since 1946, British Chamber of Commerce Thailand (BCCT) currently has a membership of approximately 600, with nearly 3,000 named representatives covering a broad cross-section of business interests in Thailand. The BCCT is one of the most active foreign chambers in Thailand, holding close to 100 events throughout the year. These range from special lectures, presentations and panel discussions with guests from the Thai and UK government representatives, and the business sectors. Networking evenings are held monthly in Bangkok and the Eastern Seaboard. BCCT aims to foster partnerships and strengthen ties between Thailand and the UK. Activities are dedicated to building networks, connecting business and creating opportunities for members. Our focus is on serving the needs and facilitating opportunities for our members. The BCCT has a seat on the Board of Trade of Thailand and is active in representing members’ interests. Membership is open to companies and individuals of all nationalities. ACTIVITIES/SERVICES BCCT Website: www.bccthai.com The BCCT website is the major communications vehicle for the BCCT. Members can find the latest business reports, access to comprehensive list of contacts of the BCCT members list, news and special members benefits offered by other members, amongst other useful information collected in one site.

Networking Opportunities Networking Evenings are held once a month in Bangkok and the Eastern Seaboard. Events are also held in Chiang Mai and Phuket throughout the year. Networking events are open to members and non-members thus widening the networking base for BCCT members and providing public relations exposure. Business Presentations A number of special interest topics are presented by experts either over breakfast briefings, luncheons, or evening panel discussions. Guest speakers have included Prime Ministers of Thailand, key government ministers from Thailand and the UK, British Ambassadors to Thailand, senior officials or senior executives from Thailand and the UK. Training workshops Workshops on key business and management skills for junior and mid level are conducted several times a year. Workshops are conducted in Thai and adopt a participative approach. They range from half day to three days. Business Introductions/Referrals Members can utilise the experience and knowledge of BCCT executive office staff to facilitate direct business introductions to other member companies, for face-to-face meetings with visitors from overseas, etc. The Executive Director also meets businessmen during his visits to the UK. Charities The BCCT also supports a wide range of children’s and educationbased charities in Thailand. The Chamber works closely with the British Community in Thailand Foundation for the Needy (BCTFN), which organises the Annual Ploenchit Fair.

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http://goo.gl/Vav3Q

Sports & Social The BCCT organises annual football tournament and occasional golf events. The Annual Christmas Luncheon is the BCCT’s major social event with approximately 700 guests consisting of members, their friends, families and business associates coming together to celebrate the festive season.

4.30 pm, the BCCT office also incorporates a small library providing access to UK and Thai trade directories/CD ROMs, Chambers of Commerce handbooks, business journals and magazines. There is also a small meeting room available for members use during office hours. For more information visit www.bccthai.com or like us on Office Hours Facebook ‘British Chamber of Open weekdays from 8.30 am – Commerce Thailand’.

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18

BANGKOK BUSINESS BRIEF

Briefs

The Chambers

15 Soi Tonson, Ploenchit Road Lumpini, Pathumwan Bangkok 10330 Tel: +66 (0)2 309 5250 Website: www.beluthai.org Email: info@beluthai.org

http://goo.gl/EGpi8

Danish-Thai CC (Dancham) 34 C.P. Tower 3, 9th Floor Tower A, Phayathai Road, Ratchathewi, Bangkok 10400 Tel: +66 (0)2 354 5220 Fax: +66 (0)2 354 5221 Website: www.dancham.or.th Email: contact@dancham.or.th

Franco-Thai CC (FTCC)

rest

Use your smartphone’s QR Code scanner or enter the short code to go directly to a Chamber’s website.

Malaysian-Thai CC (MTCC)

3601 36th Floor, Q Houses Lumpini Bldg., South Sathorn Rd., Tungmahamek, Sathorn Bangkok 10120 Tel: +66 (0)2 677 7393 Fax: +66 (0)2 677 7394 Website: www.mtcc.or.th http://goo.gl/Xqn32 Email: admin@mtcc.or.th

Netherlands-Thai CC (NTCC)

Tel: +66 (0)2 309 5250 Website: www.ntccthailand.org Email: info@ntccthailand.org

German-Thai CC (GTCC)

http://goo.gl/WaAzA

9th Floor, ITF Tower, 140/26 Silom Road, Bangrak, Bangkok 10500 Tel: +66 (0)2 634 3283 Fax: +66 (0)2 634 3004 Website: www.nztcc.org http://goo.gl/7IxHW Email: director@nztcc.org

Singapore-Thai CC (STCC)

25th Fl., Empire Tower 3, 195 South Sathorn Road Yannawa, Sathorn Bangkok 10120 Tel: +66 (0)2 670 0600 Fax: +66 (0)2 670 0601 Website: www.gtcc.org Email: services@gtcc.org http://goo.gl/KizCx

India-Thai CC (ITCC)

193/8 Lake Rajada Office Complex, 1st Floor Rachadapisek Road, Klongtoey, Klongtoey, Bangkok 10110 Tel: +66 (0)2 264 0680-4 Fax: +66 (0)2 264 0688 Website: www.singaporethaicc.or.th Email: marketing@singaporethaicc.or.th http://goo.gl/hwtqK

South African-Thai CC (SATCC)

http://goo.gl/j3q0Y

Irish Thai CC (ITCC) Maneeya Center Bldg, 7th Fl, 518/5 Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330 Tel: +66 (0)2 652 0848 Fax: +66 (0)2 652 0671 Website: www.irishthaicc.com Email: info@irishthaicc.com http://goo.gl/vTn6j

Japanese CC (JCC) 15th floor Amarin Tower, 500 Ploenchit Road, Kwang Lumpini, Khet Patumwan Bangkok 10330 Tel: +66 (0)2 256 9170-3 Fax: +66 (0)2 652 0931 Website: www.jcc.or.th Email: info@jcc.or.th http://goo.gl/Ak9yr

10/143 (1503A), 15th Fl The Trendy Bldg Soi Sukhumvit 13, Klongtoey-Nua, Wattana Bangkok 10110 Tel: +66 (0)2 168 7416-7 Fax: +66 (0)2 168 7418 Website: www.satcc.net Email: satcc@satcc.net http://goo.gl/szwoZ

Swiss Thai CC (STCC) 36/9-10 Chaengwattana Road Kwaeng Thungsonghong, Khet Laksi Bangkok 10210 Tel: +66 (0)2 982 4896 Fax: +66 (0)2 982 4897 Website: www.swissthai.com Email: info@swissthai.com

To re enter the sto

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

New Zealand Thai CC (NZTCC)

5th Floor, Indosuez House, 152 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Tel: +66 (0)2 650 9613-4 Fax: +66 (0)2 650 9739 Website: www.francothaicc.com Email: contact@francothaicc.com http://goo.gl/QmEcX

No. 13, Sathorn Soi 1, Thungmahamek, Sathorn, Bangkok 10120 Tel: +66 (0)2 287 3001 Fax: +66 (0)2 679 7720 Website: www.itcc.or.th Email: info@itcc.or.th

General Inte

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15 Soi Tonson, Ploenchit Road Lumpini, Pathumwan, Bangkok 10330

http://goo.gl/9Y8wd

December 20 11

www.bangkokbusinessbrief.com

December 2011

Belgian-Luxembourg/Thai CC (BeLuThai)

BANGKOK BU SINESS BRIEF

http://goo.gl/EQ7pz

Thai-Canadian CC (TCCC) 139 Pan Road, Sethiwan Tower, 9th Floor, Silom, Bangrak, Bangkok 10500 Tel: +66 (0)2 266 6085/6 Fax: +66 (0)2 266 6087 Website: www.tccc.or.th Email: tccc@loxinfo.co.th http://goo.gl/xOX5c


2

BANGKOK BUSINESS BRIEF December 2011

The Chambers

Thai C. C. Tower 9th Fl., 889 South Sathorn Rd., Sathorn Bangkok 10120 Tel: +66 (0)2 675 8577-84 Fax: +66 (0)2 212 3916-7 Website: www.thaicc.org Email: info@thaicc.org http://goo.gl/nvgVp

Thai-Finnish CC (TFCC) C/O FINPRO Office, Netpoint SEA Ltd. 2nd Floor Wandee Siam Bldg, 58/84 Muangthong Thani, Chaengwattana, Klongklua, Nonthaburi 11120 Tel: +66 (0)2 574 2879-80 Fax: +66 (0)2 574 2877 Website: www.thaifin.or.th Email: tfcc@thaifin.or.th http://goo.gl/bZC1O

Thai-Hong Kong Trade Association (THTA) Empire Tower, 25th Floor, 195 South Sathorn Road, Yannawa, Bangkok 10120 Tel: +66 (0)2 343 9000 Fax: +66 (0)2 343 9029 Website: www.thta.or.th http://goo.gl/qY8zE Email: thai-hongkong@thta.or.th

Thai-Israel CC (TICC) 14th Fl., Manorom Building, 3354/45 Rama 4 Rd., Klongton, Klongtoey, Bangkok 10110 Tel: +66 (0)2 672 7020 Fax: +66 (0)2 672 7021 Website: www.thaisraelcc.com http://goo.gl/ua3Aw Email: ticc@thaisraelcc.com

Thai-Italian CC (TICC) 1126/2 Vanit II Building, 16th Floor, 1601B New Petchburi Rd., Makkasan, Rajdhevee, Bangkok 10400 Tel: +66 (0)2 255 8695 Fax: +66 (0)2 253 9896 Website: www.thaitch.org Email: info@thaitch.org http://goo.gl/AAoTx

Korean-Thai CC (KTCC) 6th Fl. Rajapark Bldg, 163 Asoke Sukhumvit 21 Rd, Klong Toey Nua, Wattana Bangkok 10110 Tel: +66 (0)2 204 2503 Fax: +66 (0)2 204 2504 Website: www.korchamthai.com Email: ktcc@korchamthai.com http://goo.gl/H33BK

Thai-Norwegian CC (TNCC) 888/142 Ploenchit Rd, 14th Fl., Mahatun Plaza, Lumpini, Pathumwan, Bangkok 10330 Tel: +66 (0)2 650 8444 Fax: +66 (0)2 627 3042 Website: www.norcham.com Email: contact@norcham.com http://goo.gl/wom78

December 20 11

Briefs 19

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Thai-Chinese CC (Thai-CC)

BANGKOK BU SINESS BRIEF

General Inte

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

Use your smartphone’s QR Code scanner or enter the short code to go directly to a Chamber’s website.

Thai-Pakistan CC (TPCC)

rest

...

Thai Samut Asset Co., Ltd., Unit J, 16th Floor, 163 Suriwongse Road, Bangrak, Bangkok 10500 Tel: +66 (0)2 634 0147-8 Fax: +66 (0)2 634 0149 Website: www.thai-pakistanchamber.com Email: info@thai-pakistanchamber.com http://goo.gl/PQj3C

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Thai-Swedish CC (TSCC) 34 C.P Tower 3, 9th Floor Tower A, Phyathai Rd, Ratchathewi Bangkok 10400 Tel: +66 (0)2 354 5229-31 Fax: +66 (0)2 354 5232 Website: www.swecham.com http://goo.gl/rPFRL Email: contact@swecham.com

Thai-Taiwan Business Association (TTBA) No. 30/207 Sukhumvit Soi 39, Sukhumvit Rd., Kiongtannua, Bangkok 10110 Tel: +66 (0)2 662 7335-6, 662 7385 Fax: +66 (0)2 662 7382 Website: www.ttba.or.th Email: ttba@ttba.or.th http://goo.gl/DdLeZ

Joint Foreign CC of Thailand (JFCCT) 38th Floor, State Tower 1055/914 Silom Rd, Silom, Bangrak, Bangkok 10500 Tel: +66 (0)2 630 6307 Fax: +66 (0)2 630 6303 Website: www.jfcct.org Email: secretary@jfcct.org http://goo.gl/PVRjt

Where do we go from here? Just like any good business, we rise/move, and the addition of have already set goals for the other news sources as they report future. on business news in Bangkok, Thailand, and the SE Asia region As we expand, we will be adding and beyond. new features and highlights to Bangkok Business Brief, such as As we expand our business, expert reports and perspectives, expand yours as well by marketing coverage of forecasts and trends, your business through advertising Board of Investment and SME in these pages and on our website. and other business organizations Grow with us! (e.g., Rotary) news, editorials (including your letters and Contact Andy Hyde at 080-814emails), a B2B marketplace, 9080 or through email to andy@ industry ratings, people on the bangkokbusinessbrief.com.


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BANGKOK BUSINESS BRIEF

Thailand struggles on ASEAN scorecard Story continued from Page 1.

The first AEC “scorecard” in 20082009 reported that member states had reached 73.6% of their goals toward 2015. But while 73.6% sounds like reasonable progress, many analysts are cautioning that 2015 is not a viable target for full economic integration. They foresee a partial implementation of the AEC goals by 2015 and full integration a number of years down the road. As part of the so-called ASEAN-6 (Thailand, Singapore, Indonesia, Brunei, Malaysia, the Phillipines), Thailand has already removed tariffs from 99% of goods, while the CLMV members (Cambodia, Laos, Myanmar and Vietnam) have reached 0.5% tariffs on 98.6% of goods. Thailand, Indonesia, Singapore and Vietnam have also passed a competition law and established independent competition authorities.

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December 2011

their regional hub for the AEC, the Kingdom still lags behind other members in several important areas. In terms of labour mobility, Thailand has yet to change the Thailand-Alien Employment Act, which prohibits foreigners from working in certain professions. The services sector in Thailand also has a long way to go to achieve the required levels of liberalization, especially involving foreign-owned equity and investment, and the food and agriculture sectors have a sensitive cultural element that may be difficult to overcome. In order to clarify what the potential changes and reforms will mean for its members, the Joint Foreign Chambers of Commerce in Thailand (JFCCT) has established an AEC committee, made up of representatives from ASEAN members, ASEAN Plus members and some European members. The chairman of the Committee, Andrew Durieux, says there is still work to be done ahead of 2015.

While major multinationals like Deloitte and Toshiba have an- “There are many opportunities for nounced that Thailand will be Thailand in the AEC, but there

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are also many challenges ahead with its so-called “second tier” and more work needs to be done members. to take full advantage of these opportunities,” he said. Chris Bruton, Executive Director of Dataconsult Ltd, points out that As with most of the AEC bench- while there are many positives to marks, proper implementation come from regional economic inwill require coordination across tegration, it is also a risky proposiministries within each member tion. nation, which may be the biggest obstacle in achieving the dream of “We don’t really know who will 2015. The political will to change gain and who will lose,” he said. multiple established bureaucracies “I’m concerned about the AEC will be necessary for progress to be because of unequal development made. among members. However, Thailand could be a net winner in the Whether Thailand’s ministries AEC, but at the moment, it is the are willing or able to make these bureaucratic issues that need to be changes and establish protocols tidied up.” for coordination in time for 2015 remains to be seen. But even the As ASEAN prepares to release current ASEAN Secretary-Gen- its second progress “scorecard” eral Khun Surin Pitsuwan has re- early in 2012, leaders of ASEAN cently lamented the slow pace of and its member states, especially reform in Thailand. Thailand, may need to manage expectations for 2015 as the realities Problems preparing for 2015 have and difficulties of full economic been exacerbated by the fallout integration among ten member from the Euro crisis, which has states with entrenched procehighlighted the potential for win- dures and traditions become ners and losers in any regional more and more apparent. Overeconomic union. With the devel- coming these difficulties may oping CLMV members, the AEC take longer than the three years faces the same issues as the EU that remain.

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BANGKOK BUSINESS BRIEF

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December 2011

The Calendar

December

Sunday

27

4

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

Bonjour French Fair http://goo.gl/l4oWx

28

BCCT: ICT Presentation: Google Thailand http://goo.gl/Ma5Bw AMCHAM Briefing: U.S. Cmmsr. for Patents http://goo.gl/85VxT

5

12 Constitution Day (sub.)

18

goo.gl/6ngBg

Tuesday

Monday

H.M. the King’s Birthday

11

Bangkok Trader Networking Party http://goo.gl/6ngBg

19 AMCHAM: F&A Ag-Chemical Subgroup http://goo.gl/oHLxF AMCHAM: Legal Cmte http://goo.gl/jchtr

29

AMCHAM: Charit. Fnd. disc. on rebuilding schools http://goo.gl/KZWlL BCCT: Luncheon Sec. Gen., Natl. Econ. & Soc. Development Board http://goo.gl/Bxbbk

6 AMCHAM: Board of Governors/ Committee Roundup http://goo.gl/X9uRU

13

AMCHAM: Talk on HR http://goo.gl/WFgYE AustCham: Board of Directors Meeting http://goo.gl/ajomC BCCT: Board Meeting http://goo.gl/UZOgv

20 AMCHAM: ICT Cmte Planning Session http://goo.gl/Lk9n7

25

26

27

1

2

3


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23

BANGKOK BUSINESS BRIEF December 2011

Send us your business event details for the January issue by December 14th to calendar@bangkokbusinessbrief.com Wednesday

Thursday

30 Franco-Fun Networking Cocktail http://goo.gl/E2cAO

7 AMCHAM: Food & Agri-Business Cmte http://goo.gl/wx2Rq AustCham: Christmas Sundowners http://goo.gl/owKj1

14 AMCHAM: SME Cmte http://goo.gl/dtoKt BCCT: Christmas Luncheon http://goo.gl/qfT3x

21 AMCHAM: CSR Cmte http://goo.gl/uFjlY

28

4

Friday

Saturday

1

AMCHAM: Travel & Tourism Cmte http://goo.gl/bZ5GF Combined Chambers Football Dinner http://goo.gl/GPNbR Thai-Swe CC Network. http://goo.gl/njYaC

8

AMCHAM: Festive Eggnog Holiday Party http://goo.gl/emRw8 Bonjour French Fair http://goo.gl/l4oWx SwissThai CC Stamm http://goo.gl/kIXDc

15

AMCHAM: Luncheon http://goo.gl/FcsEO French-Thai CC Gala: French Avant-Garde http://goo.gl/1aZna More events for today: http://goo.gl/qD2op

22 AMCHAM: Charitable Foundation Cmte http://goo.gl/rcACs

2

3

9

10

AMCHAM: Manufacturing Cmte http://goo.gl/jzetI Bonjour French Fair http://goo.gl/l4oWx TFCC Pre-Christmas http://goo.gl/7Kf7m

Bonjour French Fair http://goo.gl/l4oWx Constitution Day

16

17 AustCham: Volunteer English Teaching http://goo.gl/TrHcZ

23

24

AMCHAM: Young Professionals Cmte http://goo.gl/j8kuE

29

30

31

5

6

7

BOI Fair http://goo.gl/a9T3c AMCHAM: Travel & Tourism Cmte http://goo.gl/QFjsk AMCHAM: Eckard College Briefing http://goo.gl/Ya4du

BOI Fair http://goo.gl/a9T3c

BOI Fair http://goo.gl/a9T3c


It’ s

e m i T y Part

Australia ’ s no. 1 RTD is ba ck in Thailand

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Bangkok Business Brief - Volume 1, Issue 1 - December 2011