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A BUSINESS MAGAZINE OF THAI – ITALIAN CHAMBER OF COMMERCE APRIL 2011

Annual General Meeting TICC Board of Directors 2011 – 2013


Thai-Italian Chamber of Commerce PRESIDENT Mr. Lino Geretto – LGV Engineering Co., Ltd. Tel: +66 2 255 8717 Fax: +66 2 255 8716 Email: info@lgveng.com

President's Message

VICE PRESIDENTS Mr. Giacomo Mauri – River of East-West Harmony Co., Ltd. Tel: +66 81 814 5160 Email: gmauri11@gmail.com

Lino Geretto President Thai-Italian Chamber of Commerce

Mr. Sawang Pracharktam – Thai Optical Group Plc. Tel: +66 2 440 0506-8 Fax: +66 2 440 0509 Email: sawang@thaiopticalgroup.com DIRECTOR & HONORARY TREASURER Mr. Chakrit Benedetti - Italasia Electro Co., Ltd. Tel: +66 2 261 7990-9 Fax: +66 2 261 8700 E-mail: italasia19@hotmail.com DIRECTOR & HONORARY SECRETARY Ms. Tiziana Sucharitkul – Tilleke & Gibbins International Ltd. Tel: +66 2 653 5555 Fax: +66 2 653 5678 Email: tiziana.s@tillekeandgibbins.com

Dear TICC Members and Friends,

DIRECTORS Mr. Federico Cardini – F. Infinity Chalon Co., Ltd. Tel: +66 2 207 8614 Fax: +66 2 207 2626 Email: fc@teakwoodburma.com

It is my pleasure, on behalf of the newly appointed Board of Directors of the Thai-Italian Chamber of Commerce, to address our first message to our members and friends through our publication, INFORMA.

Mr. Giancarlo De Santis – G.DS Co., Ltd. Tel: +66 2 391 4456-7 Fax: +66 2 391 0524 Email: info@gdscompany.com Fr. Giovanni Contarin – Camillian Hospital Tel: +66 2 185 1444 Fax: +66 2 185 1403 Email: cg_camillian@csloxinfo.com Mr. Luca Vianelli – MDA Consulting SEA Co., Ltd. Tel: +66 2 652 2447 Fax: +66 2 652 2448 Email: lvianelli@mda.it Mr. Mario Bracci – Asia Cement Public Co., Ltd. Tel: +66 2 641 5600 fax: +66 2 641 5680 Email: m.bracci@acc.co.th Mr. Pichai Chiratiwat – Central Trading Co., Ltd. Tel: +66 2 229 7000 Fax: +66 2 367 5445-6 Email: pichai@cmg.co.th Mr. Pierre Nicou – EUROFOOD – The Commercial Company of Siam Ltd. Tel: +66 2 261 0245 Fax: +66 2 261 0243 Email: pierre@eurofoodthai.com Mr. Renzo Ambrosini – IMPERO Co., Ltd. Tel: +66 2 664 4491 Fax: +66 2 258 1159 Email: info@giustorestaurant.com Mr. Romeo Romei – Quick Pack Pacific Co., Ltd. Tel: +66 2 367 1092 Fax: +66 2 531 6425 Email: romeo@quickpackpacific.com SECRETARY GENERAL Mr. Sandro Zanello Thai-Italian Chamber of Commerce. 1126/2 Vanit Building II, Room 1601B 16th Floor, New Petchburi Rd., Makkasan, Rajdhevee, Bangkok Tel: +66 2 253 9909, +66 2 255 8695 Fax: +66 2 253 9896 E-mail: secretarygeneral@thaitch.org

The Informa is the bi-monthly magazine of the Thai-Italian Chamber of Commerce, covering all business activities and social news of interest to the members of the Thai-Italian community and others active in the expanding Thai-Italian bilateral relations. EDITOR: Thai-Italian Chamber of Commerce Tel: +66 2 253 9909 Fax: +66 2 253 9896 E-mail: info@thaitch.org EDITORIAL COMMITTEE: Thai-Italian Chamber of Commerce President: Mr. Lino Geretto Chairman: Mr. Giacomo Mauri Directors: Mr. Chakrit Benedetti Mr. Pichai Chitathiwat Mr. Sawang Pracharktham Secretary General: Mr. Sandro Zanello Italian Embassy Representative: Ms. Somsri Pobpipugtra Italian Trade Commission Representative: Mr. Vincenzo Calì Dante Alighieri Association Representative: Mrs. Jane Puranananda Scand-Media Representative: Mr. Gregers Moller TICC Staff: Ms. Ratigul Sanguansuk: Membership Executive Ms. Sukanya Kerngfak: Marketing Executive Mr. Richard Darren Bartlett: English Editor Mr. Stephen Johnson Farrell: English Editor PUBLISHER: Scand-Media Corp., Ltd. 4/41 Moo 3, Thanyakarn Village, Ramintra Soi 14, BKK 10230 Tel: +66 2 943 7166-8 Fax: +66 2 943 7169 Design: Disraporn Yatprom Email: disraporn@scandmedia.com ADVERTISING CONTACT: Mr. Finn Balslev, Marketing Director Scand-Media Corp., Ltd. Tel: +66 2 943 7166 Ext: 151 Fax: +66 2 943 7169 Mobile: +66 81 866 2577 Email: finn@scandmedia.com - www.scandmedia.com Ms. Sukanya Kerngfak, Marketing Executive Thai-Italian Chamber of Commerce Tel: +66 2 253 9909, +66 2 255 8695 Ext: 103 Fax: +66 2 253 9896 E-mail: pr@thaitch.org – www.thaitch.org

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Firstly, I must extend our deepest gratitude to all the members of the previous Board of Directors. Their contribution to the Chamber has been immense and their past efforts and service to the Chamber and the Thai-Italian community deserves great recognition. The members of the new Board of Directors of the TICC were elected at the Annual General Meeting, on March 16, 2011 and as such have been engaged for about a month. During this time, working committees of the Board members have been formed to deal more closely with major areas of trade and to cooperate directly with our members. In the near future, it is anticipated that members will be invited to participate in these working committees. This will allow our members to interact directly with the TICC and to work with the Chamber to ensure that the needs of the Thai-Italian business community are met. My hope is that the Chamber, with the collaboration of the Italian Embassy and the Italian Trade Commission, valuable and irreplaceable institutions in Thailand, will be able to provide assistance and support to companies and individual entrepreneurs, both Italian and Thai. The TICC will do everything possible to accommodate members’ requests and to assist entrepreneurs to promote and boost bilateral businesses between Italy and Thailand. It is evident that in such a context, members have an important role to play and their contribution and cooperation will certainly lead to positive results. A recent example is the award of “Ospitalita’ Italiana Appreciation” to 14 Italian restaurants in Thailand. This project was organized by Unioncamere and ISNART (National Institute for Tourist Research) of Italy in cooperation with our Chamber. The TICC was appointed the certifying body and adhered to procedures and parameters set by the Ospitalita’ Italiana Project. Fourteen successful Italian restaurants in Thailand were awarded the “Ospitalita’ Italiana Appreciation” plaque in an event full of colors, flags, songs, wine and of course, Italian food prepared, on the spot, by our chefs. Last year TICC, in cooperation with Bioagricert, successfully concluded the “Pro-GIs” project (Intellectual Property Right extension & Geographical Indications protection for the benefit of EU-Thailand Trade). The “Pro-GIs” project’s goal was to strengthen Geographical Indication products’ trade between the EU and Thailand and to improve the protection and value (through the use of EU logos) of Thai GI products. This year, the new project SCRIPT (a continuation of Pro-GIs) provides Self Control and Third Party Certification, to build trust on Thai Products and Services with cultural Identity. I also hope that, together with its members and friends, the Chamber will be able to put together other interesting projects and initiatives. We welcome ideas and participation by our Members, Friends and Partners. On behalf of the TICC Board of Directors, I thank you for your continued support to the Chamber and wish you every success in the future. Arrivederci, Lino Geretto


Contents 8

TICC Annual General Meeting 2011 AGM and the Election of the new TICC Board of Directors

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Italian Festival 2011

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Dante Alighieri Association's Trip

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Dedicated to the 150th Anniversary of the Italian Unity

Trip to Italy in the Footsteps of King Chulalongkorn

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ICE News

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150 years of Italian Unity

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TICC New Website

VIV Asia: Asia’s largest livestock technology trade fair

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www.thaitch.org

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A green future for Thailand’s energy system

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How liable are company directors in Thailand?

Interview with Mr. Arthit Vechakij from EEI Co., Ltd.

If a company director operates the company in accordance with his authorized power, he is protected from legal claims of other shareholders.

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TICC Events

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Member Area

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AGM 2011

Annual General Meeting 2011 and The Election of the new TICC Board of Directors

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he evening of March 16, 2011 was marked by one of the most important events of the year of the Thai-Italian Chamber of Commerce- The Annual general Meeting 2011 (AGM 2011) at Pullman Hotel. Main point of agenda was the election of the new Board of Directors. Mr. Marco Midolo, Counselor of the Embassy of Italy, presided over the event which was attended by more than 70 people including TICC members, directors and guests. Amongst the distinguished participants of the occasion are Mr. Ubaldo Ciavaglioli , Economic & Commercial Attache’ of The Embassy of Italy and Mr. Giacomo Mauri, the President of the Dante Alighieri Association Bangkok. The program started with the Welcoming speech by the Counselor of Embassy of Italy, which touched the cooperation between the Italian Embassy, the Italian Trade Commission (ICE), the Thai-Italian Organizations and TICC. Mr. Marco also stressed the importance of this collaboration, which would help to support and further strengthen the Italian business community in Thailand. The program then proceeded with the financial statement report by the Honorary Treasurer Mr. Chakrit Benedetti, followed by voting of amendments by Ms. Tiziana Sucharitkul. After that the President of TICC, Mr. Ekkamon Hutasingh gave a President’s report and a report of TICC activities 2010 presented by the Secreatry General Mr. Sandro Zanello. The formal part of program closed with the discharge of the Board of Directors for term 2009 – 2011. The guests were then served a sumptuous 3-course dinner accompanied by the fine Italian wine. After the dinner, 58 members voted, directly or by proxy. The voting process started at 17:30 and ended at 20:30, one hour later the new Directors have been announced. Welcome the new TICC Board of Directors 2011-2013 Mr. Mario Bracci, Asia Cement Public Co., Ltd. Mr. Rene Okanovic, Berli Jucker Plc./Thai-Scandic Steel Co., Ltd. Fr. Giovanni Contarin, Camillian Hospital Mr. Pichai Chirathivat, Central Trading Co.,Ltd. Mr. Federico Cardini, F. Infinity Chalon Co., Ltd. Mr. Giancarlo De Santis, G.DS. Co., Ltd. Mr. Renzo Ambrosini, Impero Co., Ltd. (Giusto Restaurant) Mr. Chakrit Benedetti, Italasia Electro Co., Ltd. Mr. Lino Geretto, LGV Engineering Co., Ltd. Mr. Luca Vianelli, MDA Consulting S.E.A. Co., Ltd. Mr. Romeo Romei, Quick Pack Pacific Co., Ltd. Mr. Giacomo Mauri, River of East-West Harmony Co., Ltd. Mr. Sawang Pracharktam, Thai Optical Group Plc. Mr. Pierre Nicou, The Commercial Company of Siam Ltd. Ms. Tiziana Sucharitkul, Tilleke & Gibbins International Ltd. TICC would like to thank all members, guests and the directors who helped to make this event memorable. In addition, we would like to thank the Pullman Hotel Bangkok King Power for their generous support on venue. Special thanks also go to G.DS. Co., Ltd. for fine wines. See you in the next AGM!

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AGM 2011

Mr. Ekkamon Hutasingh, TICC Former President gives the President’s report

Welcome the New TICC's Board of Directors 2011–2013

Voting of amendments by Ms. Tiziana Sucharitkul

Mr. Marco Midolo, Counsellor of the Embassy of Italy gives the opening speech

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THE EMBASSY OF ITALY

ITALIAN FESTIVAL 2011 Dedicated to the 150th Anniversary of talian Unity Source by: The Embassy of Italy BUDDHIST ICONOGRAPHY IN SOUTH-EAST ASIA BY DR. VITTORIO ROVEDA

LUDOVICO EINAUDI – PIANO SOLO CONCERT Monday, 2nd of May 2011, 7 pm @ Auditorium of the Mahidol University College of Music (Salaya, Nakhon Pathom 73170)

Thursday the 12th of May 2011, at 10 am National Museum, Bangkok Naphra That Road (next to the National Theatre)

the Embassy of Italy, in collaboration with the Mahidol University College of Music

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f one man embodies the kaleidoscopic new musical world of the ‘user-generated’ age it is Ludovico Einaudi. Topping audience polls from the classical to the avant-garde, Einaudi has not only become one of Europe’s most popular composers, but has rendered traditional ideas of musical genre and audience divide obsolete. Einaudi’s music is ambient, meditative and often introspective. His sweeping compositions are deeply touching, and draw inspiration from classical and international music, minimalism, and contemporary pop, but always with the piano at the heart of the sound. Recent years have seen Einaudi in a number of different contexts, from the use of Divenire in the soundtrack to Shane Meadows’ award winning film, This is England, and the subsequent Channel 4 television series This is England 86, to a performance on the Big Chill main stage with German electronic band To Rococo Rot, with whom Einaudi went on to tour his latest project, Nightbook. In 2010 Einaudi received a nomination for Composer of the Year at the

UK Classical Brit Awards. Critics say: “Einaudi’s chief accomplishment is having resurrected and modernised the persona of the pianist as performer of his own compositions.” Where should we display Einaudi’s CDs in an imaginary record store? His own answer when the question was put to him was, “I wouldn’t know. In some ways the classical music sections have something dead about them and are too tied to the past. I would prefer to find my niche among a varied selection, not pigeon-holed by a specific genre.” A point of interest: Einaudi’s influences stretch over a wide gamut from the Beatles and Radiohead to Luciano Berio, from Miles Davis to Bob Dylan, taking in Henryk Gòrecki and Philip Glass along the way. For more information please contact www.music.mahidol.ac.th Visit Ludovico on the web: www.ludovicoeinaudi.com/ www.facebook.com/ludovicoeinaudi www.myspace.com/ludovicoeinaudispace www.youtube.com/ludovicoeinaudi

"MANAGEMENT CHALLENGES" BY PASQUALE PISTORIO

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he seminar will take place on Friday the 20th of May 2011, at 16.00-18.00 hrs. followed by at refreshment, at the Sasin Graduate Institute of Business Administration of Chulalongkorn University, Sasa Patasala Building, Soi Chula 12, Phyathai Road, Bangkok. The very successful businessman (among others, ex-President and CEO of SGSThomson Microelectronics and Vice President for Innovation and Research of Confindustria, the Confederation of Italian Industrialists) will share with his public its very successful experience in the field of the business administration, that he reached thanks to the intensive implementation of highly innovative managerial criteria in the field of technological industry. Specific focus will be given to the SGS and the STMicroelectronics case, the competitiveness of Italy and Europe and to some of the managerial challenges of the next two decades.

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r. Vittorio Roveda graduated in geology and paleontology in 1965 at Milano University under Prof. Ardito Desio; he then worked for most oil companies around the world. In 1999 he obtained a PhD in archeology and art history from SOAS University, London. Dr. Vittorio Roveda has been researching the iconography of South-East Asia for several years resulting in several publications on the arts of Cambodia: on Khmer mythology, on the narrative carvings of Angkor Wat the guidebook to Prea Vihear, a compendium on Khmer iconography, on mural paintings of Cambodia and many papers on scientific journals. Dr. Roveda is research associate of SOAS, Dept. Art and Archeology, London University; he presently lives in Bangkok. “Buddhist iconography in South-East Asia”. Summary: Part 1 Buddhist iconography; the need of images (icons); the origin of early Buddhist art in India and its evolution from indexical (aniconic) to figurative and narrative. Iconological changes with the growth of Mahayana and later Vjarana and Tantrism. End of creative Buddhist art with the appearance of new forms of Hinduism and the Muslim invasions . Statuary and its limitations. Part 2 Visual narrative of Buddhist art in Southeast Asia. Examples and interpretation of a few selected events (Dream of Maya, the Birth and the Seven Steps, the Tonsure or Cutting of the hair and the Enlightenment). In depth analysis of the ways and meanings of the visual manifestation of the sacred.


DANTE ALIGHIERI

Trip to Italy in the Footsteps of King Chulalongkorn Following the success of last year’s trip entitled “Italy in the Footsteps of King Chulalongkorn”, the Dante Alighieri Association in conjunction with Thailand’s prestigious Siam Society is organizing a repeat tour in early June 2011. Dante Alighieri President, Giacomo Mauri and Vice-President Jane Puranananda will be the leaders of the trip which is being offered to Siam Society and Dante Alighieri members and other interested guests. By Jane Puranananda

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he itinerary will include a tour of many of the places in northern Italy visited by King Chulalongkorn during his two historic trips. The tour, similar to the one organized last year, will showcase the northern cities of Venice, Turin, Genoa, Lake Como and Florence. His Majesty King Chulalongkorn (18531910) who became King of Siam in 1868 made two extended visits to Europe. Both of these trips were of enormous political, cultural and social importance for Siam. The King’s first visit to Europe took place in 1897 when he toured many European countries including Italy. During this trip he visited Venice, Florence, Rome, and Naples. In fact, the monarch became the first Siamese ruler to visit Europe when his private yacht arrived in Venice in May 14, 1897. Information about his visit and his experiences were recorded in letters he sent to family members and official documents. Part of this information has been published in Italian in the book “Il Primo Viaggio in Europa di Re Chulalongkorn nel 1897” by Chulalongkorn University, 2003. King Chulalongkorn made a second extended visit to Europe in 1907 for health reasons. Extensive information is available in letters the King wrote to one of his daughters. These letters were published in a book entitled “Klai Baan” (Far from Home). In 2007 a television documentary with 13 episodes called “One Hundred Years - Far From Home” was made to commemorate this visit. This documentary provides detailed information about this visit and where he stayed. During this second trip the King’s visits included Naples, Genoa, Saint Remo, Turin, Venice, Milan, Rome, Tivoli and Palermo.

Venice, the first stop for the trip

The trip is scheduled to take place from June 2 to 13, 2011 and will coincide with the Venice Biennale 2011, an important art festival which this year will include participation by the Thai artist Navin Rawanchaikul In fact, King Chulalongkorn attended the second Venice Biennale and as a result of his visits to Italy employed many Italian artists and architects to work in Thailand. Aside from touring Venice during the Biennale, another highlight of the trip will be a visit to Aglie’ Castle which is located in the beautiful countryside near Turin. Now a museum, this castle showcases important memorabilia related to King Chulalongkorn’s visit and his close ties with the House of Savoy, the rulers of Italy at the time.

His Majesty King Chulalongkorn, The King’s first visit to Europe took place in 1897 when he toured many European countries including Italy. Those interested in learning more about the trip or joining can find information about the visit on the Siam Society’s website http:// www.siam-society.org (click on events) or can contact the Siam Society at 02-6616470 or the Dante Alighieri Society at dantebangkok@hotmail.com

Dante Alighieri Association The Dante Alighieri sponsors Italian language courses and social and cultural events. Membership is open to the general public. For more information please call 081-633-8184 or email dantebangkok@hotmail.com.

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ICE

News

VIV Asia: Asia’s largest livestock technology trade fair VIV Asia 2011and Italian participation

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hailand’s agriculture and livestock industries generate income for the country at the estimate of 12% of GDP. In the first half of 2010, the export of livestock products accounted for 4.80% of total export products with total value of 763.85 million USD. The major meat products are fishery, shrimp, and poultry and by products which the production of 1.4 million tons value 5,688 million USD. Poultry accounts for 27% of total meat export, value approximately 1,541 million USD. The bright prospects for the industry, coupled with the increasingly important role of the country in meat production and exports, bode well for innovations and technologies in livestock-related industries. One indicator of the growing business is the increase in the number of trade exhibitions aimed at creating transactions through matchmaking which implements the fact that this year’s VIV Asia, Asia’s largest livestock trade fair, hit a record high with 700 companies from 45 countries showcasing the latest livestock technology and business solutions to Asia’s fast-growing livestock industries. VIV ASIA is considered the main trade fair in the Southeast Asian region important for the livestock industry and aquaculture. The event covered a very diverse area of application, from poultry to swine breeding, from aquaculture to treatment and from storage of poultry meat to pharmaceutical products. This tenth edition of VIV Asia, international trade fair dedicated to the technologies, equipment and products for livestock

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opened its door to welcome thousands of ‘Feed to Meat’-professionals from Asia and around the world during 9-11 March 2011 at BITEC, Bangkok, Thailand. At this fair, technology in focus was ranging from crop and feed technology to animal production and processing technology, covering the entire food chain under the show’s ‘from feed to meat’ signature. When VIV Asia was first launched in 1991 on of its objectives was to introduce advanced animal production and processing technology to Asia. In its 10th edition or twenty years later ‘technology’ remained and will always be the highlight of the show.

Italian Trade Commission (ICE) has also participated this year with a group of 15 Italian companies in two separate pavilions, dedicated respectively to the equipment and pharmaceuticals, for a total net area of 240 sq.m. The official Italian participation was organized by ICE Bangkok, which as usual has given full support to Italian companies in terms of both organizational and marketing. This biennial event, covered a gross area of 13,000 sqm., was inaugurated by the Minister of Agriculture of Thailand, Mr. Teera Wongsamut, who, during the visit to the exhibition, also stopped at the Italian stand, and together with ICE Director of Bangkok Office opened the Italian participation with a symbolic ribbon-cutting ceremony. VIV Asia 2011 attracted a record number of 28,978 visitors, of which 16,264 were international (56%) and 12,714 were

from Thailand. The total figure is a massive increase of 39% on the last VIV Asia exhibition in 2009 (20,831). Feedback on VIV Asia was extremely positive: on a scale of 1 to 10, exhibitors rated it 8.1 and visitors as high as 8.4. VIV Asia 2011 got an excellent feedback from the Italian companies: the number and quality of visitors far exceeded the expectations and confirmed the validity of the event, the viability of the sector in the interest of the industry for technology and Italian products. Sunny outlook The outlook for VIV Asia 2013 is sunny. A third of the exhibitors at this year's event have already put their names down for the next edition. VIV Asia 2013 is scheduled for 13-15 March at BITEC, Thailand. Italian Technologies for livestock industry The Italian technologies for livestock farming, farm equipment, veterinary medicines, nutritional supplements and feed additives are well-known with their profound innovation that helps increase the productivity, raises the lines of production and concerns animal health as their significant code of conduct. Italy is one of the major world producers of “unified” mixer wagons for feeding cattle, sheep and goats. Also with incubators Italians guarantee elevated technology, combined with creativity in technical and stylistic solutions. But the Made in Italy specialization in this sector don’t stop there. As well as the variety of their products, tradition is also an element that unites the various producers of Made in Italy livestock solutions. To survive for so long in the market, Italian companies learn to continually invest in research and innovation in order to offer high-quality and competitively-priced solutions to the global market. Made in Italy, however, is not just limited to equipment for livestock breeding. Italy is also well established in the meat handling business as well.


ICE

INTERVIEW

TRADE NEWS

Dr. Padet Tummaruk

In the 2008 the Ital-Thai trade reached its zenith with a total amount of 3.58 billions USD and an increase of 11.36% compared to the 2007. The situation in the 2009 it was radically changed, the trade shrink of 23.7% compared to the 2008, just reaching 2.7 billions USD of the total goods traded. After the downfall of the 2009 the trade start to grow back again in 2010. In 2010 indeed the trade was 15.6% higher than 2009, with a total amount of 3.2 billions USD.

Associate Professor, DVM (Hons), MVSc., PhD. Lecturer at the Department of Obstetrics Gynaecology and Reproduction, Faculty of Veterinary Science, Chulalongkorn University

1. What do you think of Italian livestock/livestock technology for thai market? Italian livestock product is actually qualified as a European standard. However, rather few Italian livestock products are recognized in Thailand. Actually, Italian research works are well recognized but lack of industrial implementation. Drug, vaccine, animal breed, genetic knowhow, nutrition and housing facilities are all need to improve livestock industry in Thailand.

2. What do you think of market trend in livestock technology in Thailand? We have both pig and poultry as main protein source of people in Thailand and worldwide. The pig and poultry industries are growing and the farming system has nowadays become industrialized. Small farm holders are decreasing and veterinarian and veterinary products are growing. Also housing and feed and feeding system are developing to more industrialized systems. We are trying to put a lot of research work to link with the production system in order to have the optimal conditions for livestock business under tropical climates.

3. What kind of livestock technology that Thai companies are interested to improve? Thailand is located in tropical zone. The high ambient temperature and high humidity significantly influence livestock production especially pig and cattle. Most of the pig and cattle breed are originated from Europe and North America, therefore, their production under tropical climates are compromised. Furthermore, we have a lot of diseases, including virus, bacteria, parasite and mycotoxin that can also affect animal well being and production. Some important virus for pig production included Porcine Reproductive and Respiratory Syndrome (PRRS), Porcine circo virus type 2 (PCV-2) and porcine epidemic diarrhea (PED). Furthermore, we have several types of bacteria causing both respiratory and digestive systems. Therefore, health product including vaccine, antibiotics, antiparasite are important. In addition, some hormone and supplemental medicine that can be used to control reproductive cycle and enhance their productivity under tropical climates are also of interest.

Upcoming Event 13-15 September 2011, Bangkok Italian Pavilion organized by the Italian Trade Commission at Wire Southeast Asia 2011, Southeast Asia's leading procurement ground for the latest manufacturing equipment and technology for the wire and cable industries. October - December 2011, Bangkok - Seminar on Italian Technology for Environment and Renewal Energy (Renewal Energy, Solar Energy and New Technology for Sustainable Development) - Technological Seminar for Plastic Sector organized by the Italian Trade Commission in collaboration with Assocomaplast (www.assocomaplast.org), Plastic Industry Club - FTI, and Thai Plastic Industries Association - TPIA (www.tpia.org)

Import In 2008 Italy it was ranked at 19th place over the Thai clients, with an import value of 2 billions USD. In 2009 due to world crisis Italy fell at 26th place with a share of 0.88% over the total Thai trade. In 2010 the Thai export toward Italy increase of the 30% and Italy climb up to the 25th position in the importer ranking. The first imported goods are precious stones, 13.4% of increase. Second good imported A/C devices and equipments, 7.3% of increase. Third place cars and equipments, 120% of increase compared to the 2009. Export Thailand import from Italy mostly capital goods, such as raw materials and semi processed products. During the 2008 the Italian export toward Thailand increased of 18.03% which ranked Italy as the 25th supplier. Even though the first semester of the 2008 has resulted very countertrend the export of raw materials, in the second semester raw materials gained ground and closed the year with an increase of +22.8%. Edited by Mr. Edoardo Maggini Trade stats Value (Million USD)

Growth Rate (YOY)

Thailand exports (world)

Thailand Balance of Trade

195,311.59

28,14%

Thailand imports (world)

182,406.54

36,47%

Thailand exports to Italy

1,708.21

29.95%

Thailand imports from Italy

1,458.91

6.55%

Value (Million USD)

Growth Rate (YOY)

Agricultural products

270.45

29.90%

Agro-industrial products

166.83

8.94%

Thailand Exports to Italy

Principle manufacturing products Mining and fuel products Thailand Imports from Italy

1,266.59

34.21%

4.34

-54.36%

Value (Million USD)

Growth Rate (YOY)

Vehicles, transport accessories

25.41

41.93%

Capital goods

685.09

-0.89%

Raw materials/intermediate pdcts

426.36

11.27%

Consumer goods

314.45

16.27%

7.6

34.5%

Other

Statistics of Ministry of Commerce, Estimated by ICE Bangkok For more information: Italian Trade Commission, Bangkok Office (ICE Bangkok) 14/B Floor, Bubhajit Bldg.,20 North Sathorn Rd. Silom, Bangrak, Bangkok 10500 T +662 6338491-3 F +662 6338494 E-mail: bangkok@ice.it /www.italtrade.com/muangthai

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150 years of Italian Unity O

In 1861, after the Garibaldi expedition to Sicily was completed, the long period of political and military fights leading Italy to unification was over. Source by: E’ Italia Magazine N. 66 NovemberDecember 2010 Italian Chamber of Commerce and Industry in Australia – Adelaide

Giuseppe Garibaldi (July 4, 1807 - June 2, 1882) was an important Italian military and political figure, considered a national hero by many Italians, he’s also probably one of the most known historical Italian personality overseas. Politically active since young, he joined the Carbonari Italian patriot revolutionaries and fled Italy after a failed insurrection. Once he arrived in South America Garibaldi took part in the War of the

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n the 17th March of that year the national unity was proclaimed in Torino, which became the first capital city of Italy. The whole Italy is celebrating this important anniversary since last 7th of January when, in Reggio Emilia, the President of Republic Giorgio Napolitano gave the official start to the commemorations for 150 years of Unity of Italy. Reggio Emilia is known as the city where the Italian flag was created for the first time and at the opening day the President consigned a copy of the original flag to the Mayors of the first three historical capitals of Italy: Turin (1861-1865), Florence (18651871) and Rome (1871-now).

Reggio Emilia Celebrates 150 Years of United Italy President Napolitano opened the celebrations for the 150th anniversary on 7 January. The three colored flag was adopted for the first time here on 7 January 1797 Reggio Emilia, the city wasn’t a chance choice as the standard of the Repubblica Cispadana for the first time. Giorgio Napolitano, the President of the Republic, opened the celebrations

of the 150th anniversary of the Unity of Italy in the same city on 7 January 2011 in the presence of Gianni Letta, Under- Secretary to The Prime Minister’s office, and the Mayors of the three cities that have been the capital of Italy- Sergio Chiamparino of Turin, Matteo Renzi of Florence and Gianni Alemanno of Rome. The President gave them copies of the first flag saying, “There weren’t a more correct place and time than Reggio Emilia and 7 January to start the most intense phase of the celebration of thre150th anniversary of the unity of Italy”. The President then invited “All political groups, of the majority and the opposition….and all those who have responsible in national, regional and local institutions”, so that “they fully commit themselves in the events for the 150 anniversary in the South, Centre and North in the coming month so that the participation of the population is made extensive and profound”. The President didn’t want to repeat himself by listing, “the difficulty and hardness of the tests facing us and which already press Italy in a delicate European complex and an arduous international comparison”, but he reiterated that “the premise to face them positively, exploiting all the resources and potential we can count on, lies in a renewed awareness of having to fight as a united nation, as a national state open to all co-operation and all the challenges but not inclined to reserve and ambiguity about its raison d’etre, and even less to disruptive impulses.” In Conclusion, the President wished for these celebrations to be “the pledge of our determination in reaffirming, protecting and strengthening national unity, which was a cause that many Italians dedicated their commitment and their lives to.”

Farrapos (1835-1845) and the Uruguayan Civil War (1839-1851)leading the Italian Legion. During the War of the Farrapos in Brasil he also met his future wife Anita. She joined Garibaldi on his journey in 1839 and from that moment she fought at his side in South America and Europe. Anita tragically died on August 4, 1849 in the arms of her husband in Mandriole, Italy, during a retreat in the first Italian independence war, joined by Giuseppe Garibaldi and her in 1848. After the failure of the Firs Italian War of Independence in 1849 Garibaldi was forced to emigrate again away from his country. He spent a long time leading a commercial ship as Capitan in North and Central America than returned again to Italy in 1854. In 1859 he joined the Second Italian War of Independence as Major General, leading the Piedmontese army against Austria and, in 1860, he finally assisted in the overthrow

of the Kingdom of Naples and the union of Italy under Vittorio Emanuele. With the support of Camillo Benso di Cavour, Prime Minister of SardiniaPiedmont, one of the main promoters of the unification process, Garibaldi organized a small army of one thousand volunteers and, from Sicily, he fought all the way to the north of Italy defeating the Kingdom of the Two Sicilies and annexing the Kingdom of Sardinia. The unification process ended when Garibaldi gave the whole of southern Italy to Cavour, proclaiming Vittorio Emanuele as King of a united nation. After his fundamental contribution to the unification of Italy Garibaldi returned to his retreat at Caprera where he spent much of his late years. On June 2, 1882 at the age of almost 75, he was buried on his farm on the island of Caprera alongside his last wife and some of his children.

Celebrations in Italy 2011 Cultural and scientific initiatives along with architectural projects have been organized all over the country with a particular attention to the “Luoghi della memoria” (Heritage sites): sceneries of the main events during the Unification of Italy. But every town, city and region of Italy has organized celebrations with the purpose to send a message of identity and unity and to testimony their commitment in supporting Italy as a Nation, expression of different realities and single identities united under the same flag.


A Tribute To Italian Unification 150 years of Unity celebrated with style

Inglesina Synonym for elegance, design, refinement and attention to details typical of the best Italian tradition paid tribute to the 150 years of Italian unification, bu coloring in white, red and green its Pram Classica.

Many of the major “Made in Italy” brands decided also to participate to the celebrations for the anniversary of the Unification on Italy releasing special editions of their famous products. The three colors of the Italian flag (Green, White and Red) have never been so popular, from mass products like the world wide known Nutella to luxury cars like the legendary Lamborghini, everyone decided to match the Made in Italy quality and design with our national colors.

Lavazza A three-colour cup to celebrate the 150th anniversary of Italian Unification. The iconic Lavazza cup has been present at the Officine Grandi Riparazioni and the Royal Palace of Venaria Reale the 17th of March 2011, during “Esperienza Italia 150°”, one of the main events dedicated to the anniversary of the Unification.

Lamborghini Automobili Lamborghini introduced a special edition of Gallardo called Lamborghini Gallardo Tricolore Edition on March 16, 2011 coincided with the 150th year celebration of Italian Unification. Lamborghini Gallardo Ticolore Edition comes with a white base color which is given green, white and red colors accent on the left side of the car that spread from the front to the stern. These three colors are the national flag colors of Italy.

Vespa To celebrate the 150th anniversary of the unification of Italy, Piaggio Group has created the “Vespa PX 150° Anniversario Unità d’Italia”. An exclusive vehicle characterized by a white livery that stands out on the inserts in the green-white-red of the Italian flag decorating the sides and the shield, where they have also put the official logo of the 150th anniversary 1861-2011.

Ferrero Limited edition production of Kinder Brioss, Kinder Colazione Piu’, Fiesta & Kinder Delice for the 150 years of Italian Unification, including also Estathe’ and Tri-coloured Tic Tac’s. Nutella will also appear on shelves in a patriotic format : four glasses of a limited edition collection featuring the arts, history, scenery and design. This will represent what Italy is today.

Smeg A well-known brand of home appliances, has created a Tricolore (three colours) refrigerator, part of the 50's style series

15


TICC PROJECT

TICC New Website www.thaitch.org *$7 ' 6& +66&

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&73 * 

In the top part of each web page each visitor can find the quick link to the TICC home page (you will also get diverted to the home page clicking on the TICC logo on the left) and the contact us section, containing all the contact information and directions related to our office, along with a brief description of the Chamber. Thanks to some quick links, users are going to be able to get connected to all main social networks and will have the possibility to switch between Italian and English languages. TICC website in fact itâ&#x20AC;&#x2122;s now in 2 languages English and Italian and we are planning to implement it during this year with the Thai language; we are making a big effort to make our contents easier to understand and able to reach a wider audience.

On the top part of the homepage users can find the highlights of the most important TICC news, BOI news and business news from the Bangkok Post newspaper. In the same space are also available the up coming events, to keep our users always updated on the latest TICC activities.

www.thaitch.org/feed/ Add our RSS website to keep yourself always updated.

Shot the QR code with your Smartphone and access to the TICC website in seconds.

16

The second half of the page hosts the publication section, divided as well in two parts: The left one with a window dedicated to the latest edition of INFORMA, the TICC bi-Monthly, Magazine; this window offers also the possibility to look trough the pages of the magazine in digital format. For an easy reading we suggest a full screen view. The right one instead shows the publications by other organization, edited with the help of TICC or which TICC thinks can be relevant for his members.


TICC PROJECT

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The menu bar offers direct links to the most important pages in the website, there are 9 categories: The Chamber, Members, News, Events, Major Project, Publication, Thailand, Italy and Advertise with us. In the Chamber section you will find the information about the history of TICC, the Board of Directorsâ&#x20AC;&#x2122; composition and the staff profiles. The members section explains to every potential new member all the benefits in being part of TICC, including for example special discounts with associated companies and regular networking events. In the news section, users will find all the latest news about TICC and Thailand. In the events section are also available information and the calendar about future and the past TICC events, we recommend to check this session frequently to be updated on our coming events and to be able to see the pictures of all our past events. In the major project section there is a quick link to the dedicated pages of each TICC major projects: projects that normally last more than one year. For the current year you will find information about the EU Project and the Italian project carried on by the TICC. In the Publication section are available all the information about the mainly TICC publications such as, INFORMA Magazine, Business Directory and TICC Newsletter. There is also a constantly updated collection of useful publications released by other organizations and selected by TICC staff for our website users. The section named Thailand hosts an overview of the Asian country, information about how to set up a business, how to obtain a visa and other key contents about Thailand. A similar section named Italy offers information about how to invest in Italy and the basics information about the country. The last button contains a great advertising opportunity; TICC can now offer a wide range of options of advertising spaces to the interested companies: web, magazine, dedicated events and much more.

Newsletter In April we will introduce a complete renewed version of our monthly newsletter, if you would like to receive in your mailbox our newsletter as well as the events update please fill up the form on the left side of our home page.

Iphone TICC made easier and faster surfing on its website from touch screen devices; we guarantee direct access to the most important TICC information from mobiles and smart phones. With a mobile optimization TICC made its new website compatible to the most important browsers, in order to deliver a great product to all the users.

The New design of TICC offers two main categories of banners. Sponsors can choose between the top banner (at the top of each page) or a side banner in the home page, both with very competitive rates. For any information and to request a quotation please contact Ms. Sukanya: pr@thaitch.org

17


BUSINESS FOCUS

A green future for Thailand’s energy system? Interview with Mr. Arthit Vechakij, from EEI Co. Ltd. Global consciousness is quickly shifting regarding what have been until now the dominant perspectives on energy supply. There are two main reasons for this: one is the need to find practical alternatives to traditional energy sources, to avoid the risks related to their scarcity. The second, no less important reason, is the health and well-being of our planet.

I

n recent years, Thailand has been moving rapidly in the direction of green energy, at both the micro and macro levels. Indeed, Thailand is now the main actor proactively seeking alternative sources of energy in Southeast Asia. The following is an interview with Khun Arthit Vechakij, Managing Director of Excellent Energy International Co. Ltd. (EEI). With the aim of delving deep into this complex topic, his thoughts on these issues are indespensible. For more than 10 years, EEI has supplied services related to the increase and the improving of the efficiency and the energetic development.. Mr. Arthit has been a pioneer in the Thai ESCo business since 1999. He is recognized as an expert in energy efficiency and the ESCo scene by a broad range of local and international agencies, and among governmental, inter-governmental, media, and industry figures.

Q: Dear Mr. Arthit, what is the situation like for the renewable energy market in Thailand?

The Author

Stefano Mietto s.mietto@alice.it Stefano Mietto was born Milan, Italy in1986. He received a bachelor’s degree in Political Sciences & International Relations at the Cattolica University of Milan and a Master of Science Degree in Business Administration at the Bocconi University of Milan, with a thesis on the diffusion process of the solar energy systems in the Italian market. His main fields of interest are: energy and environmental management, diffusion and marketing of innovations and international relations. Over the last few years, he has had the opportunity to spend time in several different countries and has improved, in particular, his knowledge of the Asian continent.

R: Let’s see…in terms of investment, I think that there are several financial institutions really interested in investing in the renewable energy market, both Thai and from abroad. And the commercial banks (at least 3 to 4 of them) are quite interested in lending money for these projects. As for developers, we have two types : first, there are the entrepreneurs who produce enough biomass per year and who like to develop projects by themselves. The second type are the investors who hire a consulting company like EEI to develop the project or they contact the technology owners directly and these people then develop the project by themselves. It all depends on who has money or the biomass. Anyway, we think that there is actually not so much competition between these two groups, and I’d say that half of the operators are private developers and the other half hire consulting companies.

Q: Between the different types of renewable energy, which ones can be considered the most promising for Thailand? A: The biomass is the major area, because in Thailand we have a large availability of

18

Mr. Arthit Vechakij, Managing Director of Excellent Energy International Co. Ltd. (EEI)

byproducts. The fact that the energy price goes up increases the opportunities related to cogeneration projects. EEI has worked on more than 20 cogeneration project and there are still a lot of other project waiting to be developed. For the rest: wind has not been developed as much because of the natural characteristics of Thailand. Solar is promising but there are some difficulties regarding procedures and regulations. Still, it [solar] will be surely one of the main kinds of renewable energy in the near future.

Q: What about the opportunities for foreigner investors? A: There are many operators who want to invest in these projects (mainly from Europe, Japan, Korea and the U.S.). However, there are problems with relying on the biomass owners because nobody wants to sign a long-term contract for supplying. Furthermore, price fluctuations represent some risks in the development of these projects. So, owners have asked to co-invest with outside operators.


BUSINESS FOCUS and with our solutions he can save a significant amount, from 30% to 50%. And the government fully supports us: the ESCo business has been supported for more than 10 years, indeed we have tax privileges from BOI.

Q: What do you see as the main challenges for the future in the alternative energy field? A: There is still a big space to improve and to increase the level and the quantity of technologies that can match with Thailand’s conditions (energy price level, the availability of the biomass and other sources). Indeed, we used to look around to see if there are new technologies available all over the world. For instance, last year we went to Italy with Mr. Luca Vianelli from MDA Consulting to analyze some new technologies and I think that we will find in the near future more space to increase and exploit the potential of this sector.

Q: Thailand is a country with very high potential for renewable energies. Do you think that, with government aid, it is possible to see a promising future for this field? A: In my opinion the support from the government is good enough. In only some particular areas of application and registration there are some delays and it needs to be improved because the developers and the investors, they need to have the bigger picture on these projects. For other things, as for regulations, government action is already good. In particular, the Energy Conservation Fund is very good and it supports the big projects well. The only problem is on the availability of the biomass because there are many processes of different size to be implemented. So we have to map and search technologies from all over the world to increase the efficiency of energy production, reducing every loss.

The author and the TICC want to thank Khun Arthit for his availability and kindness in helping with this article.

EEI (EXCELLENT ENERGY INTERNATIONAL CO., LTD.) 12th Floor, Siripinyo Building., 475 Sri Ayudhaya Road, Rajthevee, Bangkok, Thailand, 10400 Tel: +66 (0) 2 201 3466 (Auto) Fsx : +66 (0) 2 201 3465 Website: www.eei.co.th

Q: Just two more questions; talking about EEI, what is your main business as an ESCo? A: We can say that we are a consulting company—a special type of consulting company, because we provide performance guarantee contracts with the customer. This means that the we are the partner of the customers, we develop the project for them from the beginning, and we stay with the customer until the end. We supply a complete package, and we provide a guarantee in the following way: we set the target of the ROI from the beginning and if in the end the result is below the target we pay the difference to the customer, and if it’s above the target we share the balance. In this way we share the risks and the benefits so the customer can trust and rely on us. We concentrate on energy saving and alternative projects and we mainly focus on cogeneration plans. We see the opportunity to save energy costs for the customer by analyzing his particular situation,

19


REVIEW

ADDRESSES Siamese Memoirs in Wartime England and Post-War Europe and Siam Diplomats' memoirs are to be found in the literature of every country. We know the genre is rich and fertile, having often given birth to valuable works. By Paolo Piazzardi*

T

he experience – it's worth remembering – is unique and inimitable in many respects, marked as it is by meetings with personages who made (or will make) history, as well as other peculiarities typical of an ambassador's career. The abundant production of diaries, letters and memoirs, therefore, doesn't cause surprise. On the other hand, little do we know about diplomats' families, offspring, wives, that is to say the relatives who follow them to the posts they are assigned. They, too, play a role – and surely not just a secondary one – in favouring relationships with the accrediting country. By the end of the mission, if the achieved results are gratifying, they too should take credit for that. This, and much more, is “Addresses” (The Post Publishing Public Company Limited, 232 pages) by Teddy Spha Palasthira, a former president of the Thai-Italian Chamber of Commerce, who in an easy-to-read book gathers the memories of his youth spent following his father, a Kingdom of Siam's diplomat at London, Paris, Rome and Athens. The book is written for and dedicated to his daughter, Malina. Paternal affection surely motivates the choice, but there is another reason. Along the pages, the author reiterates the importance that she get to know the life of her grandfather, Khun Pu', and her grandmother, Khun Ya, and of the time when her father was a child. They are precious memories; were they bequeathed with words only, they would run the risk of fading, as happens with photographs. Therefore, a book is better: even in a “hyper-technologic era” like the one we're living in, it remains the most faithful custodian of stories. Actually, it is not only Malina who benefits from these memoirs. Those who grew up soon after World War II will not find it difficult to remember the period which constitutes the background of “Addresses” (a title inspired by the different European capitals where the author's father was accredited), as well as to easily identify themselves in the astonishment of a little boy from Siam (not Thailand yet) who, after being born in London, until the age of eight was convinced of being English, to all intents and purposes.

20

How can we blame him? Like many new-born babies from Fulham and Barons Court, the nearby stop of the London underground, he was born in the nursing home at 20, Glazbury Road, Hammersmith. How could he know of his father, Secretary of the Siamese Legation in London (not yet raised to embassy status), or of the underground passages of The Tube, where he would be forced to spend his nights when the sirens would announce German bombings? From the pages, we learn that the trauma of claustrophobia in air-raid shelters, or the shock from explosions, would linger like an obsession for a long time. We find no difficulty in believing it. If it weren't so, it wouldn't be possible to explain the inscription “Hoping they will never know what war is like”. Spha Palasthira, the author, presents his book at the official launch at The Kempinski Hotel

Teddy, a valuable “creative” artist well before the word became fashionable in the realm of advertising where he successfully worked, has recounted those terrible moments through his drawings. With a few essential lines of his pen, in the illustrations of the book he has portrayed the infamous German V1 and V2, the beams of the antiaircraft searchlights scanning the night sky, the sticky and foul-smelling anti-gas masks and the caricature of Hitler. But after the horrors of war, the time of peace arrived. At the end of January, 1946, the father could finally return to work at the Legation, at 23, Ashburn Place. The son went back to Carroll School, after a period spent in the countryside at Virginia Water, where his parents served the royal Siamese couple of Rama VII and Queen Ramphai, in exile in England. In “Addresses”, peace is expressed through simple things: Mickey Mouse, Kipling's novels, Lawrence Olivier's

“Henry V” at the cinema, the radio with its unmistakable signature tune of the series “Special Agent Dick Barton”. Television had yet to come. It was already time, instead, for another transfer and a new 'address': Rue Greuze, XVI Arrondissement, Paris, the father's new diplomatic office. At the beginning, it wasn't a smooth impact: the difficulties of school, of the language, of the French mentality – obstacles which a diplomat father would easily overcome – seem insurmountable for the “Siamese-English” son. But a kind soul would take to her bosom a child in search of his identity, firstly teaching him the Thai language during long strolls at Trocadero: future queen Sirikit, at that time living in Paris with her father, Prince Nakkhat Kitiyakorn, new Ambassador of Thailand. 'Addresses' provides exclusive anecdotes and pictures of this encounter. Due to its acumen and elegance, embed with subtle (British, of course) humour, reading 'Addresses' is recommended for those who love history, as well as the men and places that marked our time. In its quicklyflowing pages, the sons of a diplomat’s communicative skills present us with a mix of public and private sphere, which engrosses and fascinates the reader.

*Paolo Piazzardi, a former cultural attaché at the Italian Embassy in Thailand.


21


LEGAL CORNER

How liable are company directors in Thailand? If a company director operates the company in accordance with his authorized power, he is protected from legal claims of other shareholders. However, this protection seizes to exist if the proper procedures specified by Thai Law and not strictly followed.

The Author

Ms. Chulaporn Sam-Arng Attorney – at – Law Chulaporn has represented a diverse group of clients in matters relating to business law and liaising with foreign firms. She can be contacted at chulaporn@juslaws.com

Jus Laws & Consult International Law Firm is an innovative, independent international law firm, dealing almost exclusively with international clients, who seek legal advice whether in business affairs, corporate matters, tax issues, risk management, structuring and restructuring of company entities suitable to different types of business, criminal and civil disputes, litigation or arbitration in the Kingdom of Thailand. Our offices are in Bangkok, Phuket and Samui.

22

“Company Director + Liability + Thailand”

A

lberto, an authorized Director of his own company, is googling the above combination in a bid to obtain some urgently-needed legal information, having just received an official copy of a complaint which cites him as the defendant in a case against his wife and his friend who are the other company shareholders. Who would ever have thought that his beloved wife and his loyal friend would join forces and turn against him?! 9 months ago, Alberto was in desperate need of money after his investments on the stock market failed to provide returns, and the final installment of his home loan saw his bank accounts emptied of every cent. An ever-increasing pile of unpaid bills did nothing to ease his financial burden. What choice did Alberto have but to mortgage the company’s only asset -the Company land- as security for a loan agreement made with a generous friend of a friend. Being the sole authorized signatory of his 51% Thai-owned Company, Alberto knew perfectly well that he could conduct this transaction himself without so much as consulting the other shareholders. The language barrier he would overcome with a little help from one of his Thai acquaintances. Even his Thai lawyer, who appeared to be competent and professional didn’t have any objections. It seemed almost too easy; the Minutes of a Shareholders’ Meeting alone would suffice. These minutes, ratified only by him, would show a “resolution” of the shareholders to enter into the loan and mortgage agreements. The legal requirement1 that a written announcement appear in the newspaper calling for a meeting of the shareholders could be side-stepped by fabricating the requisite documents while simultaneously avoiding the headache of involving the other 2 shareholders. It took Alberto no time at all to complete this single transaction, and he soon received the loan as planned. However, Alberto was naive in his actions. He did not have bad intentions but rather he needed the money and he needed it quick! In his haste, he completely neglected to comply with the proper legal procedures and to secure the concurrence of the other shareholders.

Needless to say, it wasn’t long before the other 2 shareholders discovered the undisclosed and somewhat unwelcome transaction. The generous creditor, who for his part had believed the Minutes of the Shareholder’s Meeting to be genuine, decided to foreclose on the arrangement and recover all of the capital and interest. Alberto soon realized that his actions had adversely affected both the Company and the shareholders. Never had he thought of himself as a “defendant” in a case. Never had he thought that his status as Director could lead him to such wayward actions. His Google search in the aftermath of the events, simply verified to him what he had been afraid of; that “If a company director operates the company in accordance with his authorized power, he does not have any liability to the company (or the shareholders)2 unless the company director agrees to have unlimited liability3 or unless he exceeds his authorized powers.” 4 He also discovered that “the company shareholders may claim for compensation against the directors for injury caused by them”5 and that “minutes of a Meeting made from a non-existing shareholder meeting can be revoked”6. As if that wasn’t enough, he also learned that “failure to comply with the procedure to call for a shareholder meeting could result in a company director being fined not over 50,000 THB"7 and that “using false Minutes of a Meeting can result in prosecution”8 While Alberto is thrilled with the information he gleaned from his internet search, he also regrets that said information simply confirms the content of the well-written complaint along with his liabilities. He is devastated at the prospect of a 3 year prison sentence. Being the Director of a Company in Thailand means being the only authorized signatory of that company. Negligent advice from a lawyer, and at times the belief that a signature will make things easier, can lead to a Director facing unfortunate consequences. Some noteworthy advice is, of course, to choose shareholders that you can trust and involve them in every decision. The best advice, ultimately, is that despite what some Thai lawyers may say, when in Thailand, you should always respect Thai Law.

Section 1175 of the Civil and Commercial Code B.E. 2535 (TCCC) Section 1170 of TCCC 3 Section 1101 of TCCC 4 Section 1144 of TCCC 5 Section 1169 of TCCC 6 Section 1195 of TCCC 7 Section 25 of the Act on Offenses concerning registered Partnerships, Limited Partnerships, 8 Limited Companies, Associations and Foundations B.E. 2499 1 2


ECONOMIC FOCUS

Thai economy: updates

CISO

Latest Economic Data Sources: Ministry of Commerce, Bank of Thailand, Office of the National Economic and Social Development Board

Performance in 2010 and outlook for 2011

BAHT AVERAGE FOREIGN EXCHANGE DEC

L

et’s start from the top, from the broadest economic indicator: the Gross Domestic Product. In the fourth quarter (Q4) of 2010, the Thai economy expanded by 3.8%, after showing a 6.8% increase in Q3. With an overall GDP increase of 7.8% in 2010, Thailand was one of the fastest growing economies in the region last year; only China, Taiwan and Singapore finished higher. Private investments and exports were among the major drivers, with an increase of 13.8% and 28.5% respectively. While the global economic recovery spurred external demand, an increase in domestic income in the agricultural sector pushed internal consumption. Exports increased consistently over the course of the year, but slowed down in the last quarter (+21.1%), after reaching higher levels during Q2 (+41.8%) and Q3 (+22.2%). Manufacturing exports followed the same path, with a lower increase in Q4 (+20.1%) compared to Q3 (+21.9%). The major exported products were electrical appliances and computer parts. Exports of agricultural commodities followed an opposite trend and increased in the last quarter; this because a series of natural disasters reduced the supply from other world markets. Even if the volume remained quite stable or slightly negative, a price increase by 29.7% in the last quarter contributed to a positive 29% increase in value. During the first months of 2011, almost all commodities prices remained high, including rice and rubber, two exports in which Thailand has a huge piece of the world supply. It is easy to figure out the main consequence of these figures. The rising of agricultural prices has improved the income of villagers and farmers in the rural areas of the Kingdom. Therefore, even if the agricultural sector contracted by 2.2% in 2010, the income of people employed in it increased by 24%. Private consumption expanded accordingly and, even if in Q4 the change in percentage on a yearly basis was the lowest of the four quarters (+3.9% in Q1, +6.4% in Q2, +5% in Q3 and +3.8% in Q4), in absolute terms it showed the highest increase. This benefited other domestic sectors such as tourism and manufacturing, in particular in textiles, electronics and vehicles. Non-agricultural sectors expanded by 8.8%, with manufacturing showing the highest increase (+13.9%), mainly driven by motor vehicles, electronics, tires, cement and polymer products. The real estate sector increased by 3.8%, pushed by residential property sales; housing loans increased in tandem with low cost of borrowing. The tourism industry recorded a positive 8.4% with

an increase of tourists from Asian countries outnumbering the decline of tourists from western countries. The financial sector also did well (+7.9%). Employment benefited from an overall increase in production, and the number of people working in both the agricultural and in the non-agricultural sectors increased by 0.5% and 1.3%, respectively, over the course of the year. Unemployment declined and reached 0.9% in the last quarter, averaging 1% for 2010. But this spike in economic growth came at a price. Inflation increased, with the CPI (consumer price index) jumping by +3.3%, after showing a decrease of 0.8% in 2009. The index slowed in January (+3.03%) and then again in February (+2.87%). With the goal of reducing inflation, the BOT (Bank of Thailand) has already intervened in the market to reduce liquidity, hiking interest rates by 1.25% since last July. Two interventions only in 2011, of 0.25% each, and in march the 1-day repurchase rate stands at 2.50 %, a negative real interest rate (that is when the rate of inflation exceeds interest rates). To close with the main economic indicators, let’s look together at the stock market and at the exchange rate. The stock exchange of Thailand (SET index) jumped by 41% during 2010, from 734.5 to 1,032.8 points at the end of the year. The biggest change came in Q3, with an increase of 200 points from the previous quarter. Over the first three months of 2011, the index has remained quite stable at around 1000 points. Even the Thai baht performed well, with an appreciation of 10.5% against the US dollar, the third biggest appreciation in the region, second only to the Japanese yen and the Malaysian ringgit. Even if the economy performed well in 2010 (together with other developing countries in the region), Thailand should focus on some points for the future: (i) invest in infrastructure and in human development, to build a solid basis for sustainable economic growth and to avoid getting stuck in the “middle-income trap” (ii) solve the political problems in the country to restore confidence in the tourism sector (iii) monitor the problem of increasing commodity prices and inflation, to prevent it from affecting production and the benefits of economic growth for the population.

$ €

JAN

FEB

30.11

30.59

30.71

39.80

40.89

41.90

41 38

USD$

35

EUR€

32 29 DEC

DEC

FEB

TRADE BY DESTINATION WORLD EXP WORLD IMP ITALY EXP ITALY IMP

DEC

JAN

FEB

17,372.71 16,077.58 158.50 134.45

16,747.45 17,604.26 177.20 162.85

18,867.70 17,100.13 149.16 131.83

DATA IN MILLIONS USD $

TRADE WITH ITALY BY COMMODITY EXPORT TO IT AGRICULTURAL AGRO-INDUSTRIAL MANUFACTURING MINING AND FUEL OTHERS

IMPORT FROM IT CAPITAL GOODS CONSUMER GOODS RAW MATERIALS VEHICLES OTHERS

DEC

JAN

FEB

34.30 15.84 107.05 1.31 -

28.84 15.30 131.63 1.43 -

34.90 9.96 102.79 1.51 -

DEC

JAN

FEB

60.10 30.30 39.34 2.50 2.21

72.91 48.18 35.00 5.27 1.49

64.42 30.82 31.69 4.23 0.67

DATA IN MILLIONS USD $

NET FLOW OF FDI BY COUNTRY NOV

DEC

546.84 1.12

TOTAL ITALY

285.35 -1.39

DATA IN MILLIONS USD $

NET FLOW OF FDI BY SECTOR NOV

DEC

546.84 333.95 -0.93 60.14 8.27 164.00 -13.23

TOTAL INDUSTRY FINANCIAL TRADE AGRICULTURE SERVICES REAL ESTATE

285.35 376.49 16.05 -55.02 3.69 22.39 29.80

DATA IN MILLIONS USD $

WORKING FORCE Q3

Q4

UNEMPLOYMENT

38,691,580 0.9%

38,508,500 0.9%

AVERAGE WAGE

À 9,607

À 9,649

WORK FORCE

OTHER INDICATORS GDP

By Narciso Podda

GROWTH Y-o-Y

Q2

Q3r

Q4

2,471,448 9.2%

2,490,045 6.6%

2,581,410 3.8%

DATA IN MILLIONS THB

Source: NESDB (Office of the National Economic and Social Development Board of Thailand) All quarterly economic reports can be found online at: www.nesdb.go.th

DEC CONSUMER PI PRODUCER PI

3.0% 6.7%

À

JAN

3.0% 6.0%

FEB

2.9% 7.4%



23


TICC EVENTS

Christmas Party at INVERSUS Restaurant

T

he TICC Christmas Party held in the newly decorated venue of the INVERSUS Italian Restaurant, on the last 13th December. The ThaiItalian Chamber of commerce would like to thank all guests for the participation in this successful event. Delicious varieties of food, accompanied by tasteful Italian wines and a very stylish environment, made this party a special occasion to end this year wishing a Merry Christmas and a Happy Peaceful New Year. We would like to thank all of our sponsors: La Perla, Central Marketing Group, Santa Maria Novella, GUCCI, Italasia Group, Wald s.r.l, Narai Phand and Inversus Restaurant.

SCRIPT Project: Kick Off Meeting

T

hanks to the collaboration with Bioagricoop and the Franco-Thai Chamber of Commerce, since the 17th January 2011 the Thai-Italian Chamber of Commerce has been working on the Script Project, a European project worth 500.000 Euro, of which 80% financed by the European Delegation Under Thailand- EC Cooperation Facility II (TECII). The project has started with internal kick-off meetings among partners at TICC and FTCC offices and the external meeting among stakeholders held at Renaissance Hotel. Several organizations will be involved in the project: Thai Spa Association, Federation of Thai Spa, QSDS (Queen Sirikit Department of Sericulture), OSMEP, Ministry of Public Health. SCRIPT aims to raise awareness and implement voluntary requirements of the EU Single Market in silk and cosmetic sectors by targeting five small and medium enterprises (SMEs) operating in silk production and marketing, plus five SMEs producing cosmetics. The Chamber's hope goes beyond the project itself: the goal is to create a “virtuous cycle” that in the future is going to interact with other Thai companies who could be interested in the same EU recognition.

Asia-Pacific Road Show 2011

T

his Road show took place between the 3rd and the 4th of February 2011. It was designed to promote Thailand and the business opportunities that its territory can offer to the Italian operators. Organized with the collaboration between the Asian-Australian Chambers of Commerce (Australia, China, Korea, United Arab Emirates, Thailand, Singapore, India, South Africa and Thailand), it hosted a wide range of multi-sector presentations (gastronomy, food, crafts, environment, energy, biotechnology, building, tap sector, boating, mechanical, ICT, etc.) and various meetings with operators, all along its different stages. The main goal of the Road show was to help Italian enterprises to get more involved in the international environment and to understand the potential qualities that Thailand can offer to them. Regions like: Piemonte, Lombardia, Veneto and Friuli Venezia Giulia had, thanks to this event, the opportunity to become the hub of promotion for “Made in Italy” products in Asia. The Thai Italian Chamber of Commerce had an active role in this project, providing information and practical tools to help the strategic planning of the missions that started in Italy and finish successfully in Thailand.

24


TICC EVENTS

TICC meeting with Mr. Massimiliano Guelfo, President of the Italian Chamber of Commerce in Vietnam

M

r. Lino Geretto TICC Vice-president and Sandro Zanello TICC’s Secretary General joined a meeting with mr. Massimilaino Guelfo, president of the Italian Chamber of Commerce in Vietnam (ICHAM) on the 4th of March at the meeting room of the Thai Italian Chamber of Commerce (TICC). The aim was to introduce a new bilateral strategy between the two Italian Chambers abroad, study new opportunities of joint incoming mission & business matching in Thailand and Vietnam dedicated to Italian SME’s in the short future and share best practice for organizing activities for own members.

Mr. Lino Geretto, TICC Vice President with Mr. Massimiliano Guelfo, ICHAM’s President at the Thai Italian Chamber of Commerce office

Get-Together with La Perla

T

ICC’s latest Get-Together, our Glam Night Out, realized thanks to the precious collaboration of La Perla, leading Italian creator of luxurious and fashionable lingerie, nightwear. The event was held on 2nd of March at La Perla Store at Gaysorn Shopping Centre. During the event the New Collection SpringSummer has been presented. Mr.Ali Ziani, Corporate Communications & External Affairs Manager and Ms. Ricci Sanitprachakorn, Brand Coordinator of LBG Limited

25


OVERLAD STRATEGIEN TIL OS – SÅ PLEJER VI DINE INVESTERINGER

Bliv kunde i en bank, hvor alle er velkomne Investering i værdipapirer kræver en klar strategi og løbende overvågning. Har du ikke tid, lyst eller indsigt, kan Sydbank (Schweiz) AG tilbyde dig en professionel investeringsløsning. Din investeringsrådgiver, der møder dig på din hjemmebane, forener ekspertise på højt niveau med en afslappet og imødekommende facon. Derfor vil du straks føle dig velkommen i Sydbank (Schweiz) AG.

9329-1210

Poststrasse 17 · CH-9000 St. Gallen Tel +41 (0) 71 227 81 00 Fax +41 (0) 71 227 81 01 pbi@sydbank.ch · sydbank.ch

Kontakt os og aftal et møde Hvis du vil høre mere om, hvad vi kan tilbyde dig i Sydbank (Schweiz) AG, så læs mere på sydbank.ch eller kontakt Allan Hvii Head of Business Development +41 (0)71 227 81 60 allan.hvii@sydbank.ch


TICC FAIR & UPCOMING EVENT

International Trade Fairs in Italy ( April-June 2011 ) Exhibitions In Italy

Detail

Date

Venue/Website

VINITALY and EATALY

International Exhibition of Wines

7-11 April 2011

Verona Italy www.vinitaly.com

International Book Fair

Italy’s largest trade fair for books

12-16 May 2011

Turin Italy www.salonelibro.it

PALAKISS

The Palakiss Business Center

21-25 May 2011

Vicenza Italy www.palakisstore.com

International Trade Fairs in Thailand ( April-June 2011 ) Exhibitions In Thailand

Detail

Date

Venue/Website

Bangkok International Fashion Fair & Leather Fair ( BIFF & BIL 2011)

Fashion Textile Accessories and Related Products & Services

20 – 24 April 2011

IMPACT Thailand www.biffandbil.com

Automotive Engineering Asia

Get in touch with the latest 19 – 22 May development of auto parts production 2011 machinery and technologies

THAIFEX

World of Food Asia 2011

25 – 29 May 2011

BITEC Bangkok Thailand www.ubmthailand.com IMPACT Thailand www.worldoffoodthailand.com

Upcoming Events April- June 2011 Date

Event

Location

April 6, 13 – 15

TICC OFFICE CLOSE

18 – 20

MARBLE TRADE MISSION

Foggia, Italy

May 2, 5, 17

TICC OFFICE CLOSE

11

JOINT CHAMBERS BREAKFAST SEMINAR

Sheraton Grand Sukhumvit

25 – 29

SCRIPT PROJECT BOOTH @ THAIFEX ORGANIZED BY TICC

Booths P 33-36, Impact

26

WORKSHOP FOR AGROFOOD

Jupiter 14, Impact

31

SCRIPT PROJECT LAUNCH

To be defined

1–2

THEMATIC SEMINAR SCRIPT PROJECT (SILK - COSMETICS)

To be defined

2

ITALIAN NATIONAL DAY

24

GET – TOGETHER

June

Directory 2 0 1 1 Business Directory of the Thai-Italian Chamber of Commerce

2011

28

To be confirmed

The TICC's Business Directory 2011 has come out. This issue features different topics. The company profiles from TICC members, an economic outlook, list of fairs and exhibitions in Thailand and Italy, the Chamber’s activities, plus contact information of important private and public organizations in both countries.

TICC Business Member: Free of Charge / Non Member: 800 baht Directory 2011 Please contact the TICC office by e-mail (pr@thaitch.org), Tel: (+66 2 255 8695) now comes out or by fax (+66 2 253 9896) for further details or to purchase.


MEMBER AREA

Welcome New Members C.S.M Deutshland GmbH Mr. Alberto Cinicola Konogsallee 30, 40212 Germany Tel: +49 211 360440 Fax: +49 211 358 965 Email: acinicola.csm@bluewin.ch Website: www.csm-research.com Sector: Market Research and Consulting

Tecnocasa Affiliato by Happy Word SM Co., Ltd. Mr. Salvatore Parisi 16 Pracmankrok Rd., Patong Beach, Phuket, 83150 Tel: 076 512 411 Fax: 076 512 411 Email: s.pasiri@tecnocasa.com Website: www.tecnocasa.com Sector: Real Estate Intermediation

Three additional members are now offering special benefits to TICC Members: American Express Special privilege for new subscriber Jus Laws & Consult 10% off on selected services Oceanic Management 10% off, Kata Ocean View Condominium (Phuket) For more information please check www.thaitch.org/members-for-members-card If you didnâ&#x20AC;&#x2122;t received your personal card yet please write contact info@thaitch.org

Trentino Sprint Azienda speciale della Camera di Commercio I.A.A. di Trento Mr. Graziano Molon Via Calepina, 13, 38122 TRENTO Italy Tel: +39 0461 887288 Fax: +39 0461 983069 Email: sprint@trentinosprint.it Sector: International Services

Distribution Request of INFORMA: To request free copies of the INFORMA for distribution in your hotels, restaurants, or companies, please send an e-mail request to Ms. Sukanya Kerngfak (TICC Marketing/PR Executive) at pr@thaitch.org.

Summer Temptations:

Beachwear Collections by La Perla La Perla

finds the spirit of its Beachwear collection in the coloured and wild Brazilâ&#x20AC;&#x2122; charm: all the suggestions of this magic country personalise the bikinis, swimsuits and beachwear cover-ups. The symbol theme of the spring summer 2011 season is represented by a multicolour python print that translates the skin of the Amazon forest reptile into a chromatic explosion. The king collection is emphasized by striking

ia print themes: the shells of Bahia beach, the landscape of Ipanema,, e the works of Beatrice Milares - the mo famous living Brazilian painter most h joy of living expressed by the brilliant nt the colours and bright prints, the tropical and wild mood of the Amazon forest. The collection is interpreted also in a couture key with the suggestion of the Exclusive series: a new workmanship technique with multicolor micro-sequin that suggests the python skin print in a stylized key.

LA PERLA Available at 1st Floor Gaysorn Plaza Tel. 02 656 1790 1st Floor The Emporium Tel. 02 664 8884 Email: laperla@lbg.co.th

29


The Peak of Good Health Most people are enjoying their retirement by the age of 72, but not Bent Henriksen. He’s ‘summit’ special.

T

he company director, of Mitford, Northumberland, recently returned from a grueling trek to Everest’s Base Camp with his two sons, proving that age is no barrier to reaching the top! Bent, who is originally from Denmark, has lived in the North East for more than 30 years, and puts his extraordinary good health down to the vitamins and supplements he takes everyday. He says: "I am a firm believer in the importance of nutrition for good health and I’ve been taking dietary supplements for the past 25 years. They keep me fit

and active, and healthy, and I wouldn’t go a day without them. "For a physically demanding trip like Everest, I made sure I took plenty of Coenzyme Q10, a vitamin-like substance, which provides a natural energy boost." Bent set out from Newcastle International Airport with his two sons, Rasmus, 35, and Troels, 46, on Friday October 1 before joining up with his friend Alan Nathan’s family and their guides Noel Hanna and Pasang in Kathmandu. Bent says: “This was a private trek made up of two families, the Henriksens, myself and

my two sons, and the Nathans, my friend Alan and sons Jeff, Rob and Sean. “Our expedition was led by the brilliant Noel Hanna, an endurance athlete and adventure sports trainer from C 2 C Sports Ltd in Northern Ireland, who was a superb guide on the mountain. I’d also like to thank Jane Walker of Northumbria Mountain Sports in Morpeth for helping with the equipment.” After Kathmandu, the group flew through the mountains on a 14-seater plane to Lukla (which reportedly boasts the 2nd most dangerous airport in the world) before a 4-hour walk to Phakding. The next day, the group managed a 8-hour trek to Namche before acclimatisation training by climbing above the airport at Svangboche and onto Khumjung. It was here they got their first glimpse of Ama Dablam, Lhotse, and Everest itself at 8,850 metres. From Namche Bazhar it was off to Tengboche, Pheriche, Gorak Shep, Lobuche, and Kala Patthar, before they made their final ascent to the Base Camp on the Day seven of their trek on October 9. Bent says: "We set off at 6pm on empty stomachs to get up to Base Camp and back before breakfast. According to the map it looks like a fairly straightforward gradual climb, but it is actually a very hard slog. “It’s also very cold, but the views are amazing as the scenery suddenly transforms into a ‘moonscape’ when you get down onto the Khumba glacier. Another two and a half hours later, we got to Base Camp. It was great to have been there and the views of Everest (Hilary Step and South Summit) were spectacular.” The group then began the long trek back the way they had

came arriving back at Lukla on October 13 before flying to Kathmandu to reciver their strength by sleeping in a comfortable bed (for the first time in nearly two weeks) and eating a few hearty meals. Bent’s son Troels has written a diary of the trek for his family to keep, which reveals regular poker games, beer, red wine, yak steaks, and sweet black tea also kept spirits up during the trek to Base Camp. Troels says: “My father showed amazing stamina throughout and kept up with us right to the end. I was very proud of the old man.” Bent is 72 but it is difficult to call him 'old' after completing such an impressive achievement. Noel, who acted as guide for the group, paid tribute to Bent. Noel says: “Bent did brilliantly. It was a long, hard slog for everyone, but the trek went very well and I must say Bent's good health and fitness is a testament to the vitamins and supplements he takes. I take BioQuinone Q10 myself so I know how much of an energy boost it can give you.” And if anyone knows the importance of dietary supplements for good health, it’s Bent. For the last 25 years, he has been Managing Director of Pharma Nord UK, a distributor of pharmaceutical grade vitamins and supplements based in Morpeth. Bent is now back at work and is very proud to have completed the trek with his sons. "It just goes to show what you can do, regardless of age, if you look after your health," he says. For more information about Pharma Nord and it’s range of vitamins and supplements call Pharma Nord SEA, Thailand http://www.pharmanordsea. co.th or call: +66 2361 4091


INFORMA April issue  

Thai-Italian Chamber of Commerce Bi-monthly Business Magazine

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