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BANGKOK BUSINESS BRIEF December 2011 1www.bangkokbusinessbrief.com

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Inside

Bangkok Business Brief: The quick guide to your business news

Thailand struggles for high marks on ASEAN scorecardWith just over three years until ASEAN is meant to transform it-self into the ASEAN Economic Community (AEC), questions re-main about whether members can achieve the AEC Blueprint bench-

marks by the 2015 target date. While there has been progress in certain sectors in most of the ten ASEAN member states, signifi-cant 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.

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 in-tegrated competition policy to prevent monopolies, infrastruc-ture development (with a focus on transport, ICT, energy and other cross border issues), and improved agreements and inte-gration in areas such as taxation, e-commerce and SME develop-ment.

Story continues on Page 20.

By Dean Outerson

General Interest 2Economy 3Government 4Finance/Investment 5Production 6 Infrastructure/Logistics 7Retail/Services 8IT/Comms 9Tourism 10Real Estate 11Environment/CSR 12Business Organizations 13The Chambers 14The Calendar 22

By Alan Verstein

Vol. No. 1, Issue No. 1 December 2011

BANGKOKBUSINESS BRIEF

The newspaper you’re holding right now comes from a need for a re-source that I thought our city has been lacking for too long: a business-to-business journal that consolidates and summarizes the reported busi-ness 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 inter-est (see ‘Inside’ to the left) and sum-marized with a brief sample of the full story. If you find a summary in which you wish to read the whole ar-ticle, 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 day online and monthly in print.

URGENT! British expats see 2

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2 BANGKOK BUSINESS BRIEF December 2011 www.bangkokbusinessbrief.com

Greece, India, China and Thailand are home to the weakest national pension systems in the world, crippled by a mix of acute sover-eign debt, young retirement ages, high ratios of pensioners to work-ers and poor pension take-up, a study showed.

The Allianz Global Investors Pen-sion Sustainability Index, which tracks the relative sustainabil-ity of national pension systems in 44 countries around the world, showed the number of Greek re-

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

The conclusion is contained in a report entitled “Climate Risks and Adaptation in Asian Coastal Megacities”, jointly conducted by the Asian Development Bank, the Japan International Cooperation Agency and the World Bank in 2010.

The report recommended a...Full story at http://goo.gl/20yMD

‘There is a tide in the affairs of men, which, taken at the flood, leads on to fortune”, wrote Wil-

KUALA LUMPUR : The Asian cri-sis 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.

“There will be more crises in the future, and the Asian crisis in

The shift of economic growth mo-mentum to the East has opened up numerous opportunities that Asian countries should not miss out, suggests an economist.

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

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

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

Panel: Asia better off, not immune, from global crises

Preventing Bangkok from sinking biggest challenge

Grow with the flow of cycles

Asia stands to gain from West slowdown

goo.gl/bH6PF...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

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 eas-ily forget that the business world has cycles, too. We are all familiar with the economic business cycle of expansion, contraction and re-covery. However, other cyclical...Full story at http://goo.gl/fJolr

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

tirees to people of working age re-mains above the European average.

In India, China and Thailand, roughly 12 percent of the popula-tion contribute to a pension,...Full story at http://goo.gl/nLEIS

General Interest

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BANGKOK BUSINESS BRIEF December 2011 3

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

2 BANGKOK BUSINESS BRIEF December 2011


The Allianz Global Investors Pen-sion Sustainability Index, which tracks the relative sustainabil-ity of national pension systems in 44 countries around the world, showed the number of Greek re-tirees to people of working age re-

Land subsidence caused by ground water losses tops the list of prob-lems that must be solved in Bang-kok to mitigate the impact of the climate change on flooding, says a study by multinational agencies.The conclusion is contained in a report entitled “Climate Risks and Adaptation in Asian Coastal Megacities”, jointly conducted by the Asian Development Bank, the Japan International Cooperation Agency and the World Bank in 2010.





The shift of economic growth mo-mentum to the East has opened up numerous opportunities that Asian countries should not miss out, suggests an economist.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

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






General Interest

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...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/bH6PFliam 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 eas-ily forget that the business world has cycles, too. We are all familiar with the economic business cycle of expansion, contraction and re-covery. However, other cyclical phenomena affect...Full story at http://goo.gl/fJolr

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

mains above the European average.In India, China and Thailand, roughly 12 percent of the popula-tion contribute to a pension, while the weaknesses of Thailand’s pen-sion system are...Full story at http://goo.gl/rtpH3Economy

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Thailand’s economic growth quickened for the first time in more than a year last quarter on exports, before the worst floods in almost 70 years raised the specter of a slump and prompted the gov-ernment to cut its 2011 forecast.

Gross domestic product rose 3.5 percent in the three months through September from a year earlier, after climbing a revised 2.7 percent in the previous quar-ter, the National Economic and Social Development Board said in Bangkok today. The median of 11 estimates in a Bloomberg News survey was for a 4.5 percent gain.

The damage may reach 400 billion baht ($13 billion), Barclays Plc said, and the Bank of Thailand has signaled room to cut interest rates to prop up growth as well as...Full story at http://goo.gl/EF1rI

Thailand’s inflation rate held above 4 percent for the seventh straight month in October as the worst floods in almost 70 years destroyed crops and stoked food costs.

An index of consumer prices climbed 4.19 percent from a year earlier, the Ministry of Commerce said in Nonthaburi province out-side Bangkok today, compared with a 4.03 percent pace in Sep-tember. The median of 13 esti-mates in a Bloomberg News sur-vey was for a 4.5 percent gain.

The Bank of Thailand slashed its 2011 economic growth estimate following the disaster, adding pressure on policy makers to...Full story at http://goo.gl/Hg5iX

The World Bank expects a sig-nificant dampening of the Thai economy this year from the wide-spread flooding and warns that fu-ture expansion could suffer from growing concerns of a possible re-cession in Europe and continued sluggish public investment.

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% project-ed previously.

However, reconstruction and sup-ply chain resumption would...Full story at http://goo.gl/550Ve

Pressure mounts on central bank to take more responsibility for the huge costs of the 1997 bail-out

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

Thailand Inflation Holds Above 4% as Floods Stoke Food Costs

World Bank: Floods to stunt Thai growth at 2.4%

The malady lingers on

The 1997 financial crisis is reced-ing 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 the debts and how best to repay them before more public money goes to waste.

Teerana Bhongmakapat, dean of economics at Chulalongkorn Uni-versity, says the liabilities are, after all, public debts, and should be paid by...Full story at http://goo.gl/pkQyj

Bangkok Business Briefwww.bangkokbusinessbrief.com

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

BANGKOKBUSINESS BRIEF

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A major risk for the Thai economy in the post-flood period will be the political gridlock in Greece, which is threatening to result in a debt default that will spill over to the rest of the euro zone, says cen-tral bank governor Prasarn Trai-ratvorakul.

Dr Prasarn called for an early res-olution to the Greek problem in...Full story at http://goo.gl/KFH3R

Greek crisis poses a threat to Thai economy, governor warns




The government will allow exist-ing promoted businesses affected indirectly by flooding to enjoy Board of Investment privileges for an extended period.

Severe impact is expected for sup-porting industries in the automo-tive, electronics and other sec-tors, because even if they are not affected by floods, some of their customers could be out of action for months.

The cabinet has already approved...Full story at http://goo.gl/fJfj7

Finance Minister Thirachai Phu-vanatnaranubala will today meet representatives from the manu-facturing 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 im-ports from non-Asean countries, as well as rebates for flood-dam-aged raw materials. There is also a proposal to extend the period for loss deduction from taxable...Full story at http://goo.gl/LfSQw

The government has appointed a veteran economist and a close aide of His Majesty the King to help get the country back on its feet in light of the flood disaster.

Former deputy prime minister and respected economist Vi-rabongsa Ramangura will sit on a high-level committee to lay down master plans to rehabilitate the country.

The Commerce Ministry plans to spend Bt3 billion to Bt4 billion to help manufacturers – especially in the hardest-hit industries such

The Energy Regulatory Commis-sion approved relief measures for individuals and manufacturers, which could be valued about Bt20 billion.

Direk Lawansiri, chairman of the commission, said that the mea-sures cover a waiver of service fee, the payment of electricity bills in installments, a temporary mainte-nance of fuel tariff (FT), the...Full story at http://goo.gl/G0Vtz

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

Suppliers affected indirectly will also need BoI help

ERC approves Bt20bn relief measures

Govt’s Bt3bn to kick-start exports

Update on tax easings

Plan hatched to revitalise tense nation

Ministry starts rehab scheme

and medium-sized enterprises employing 670,000 people in 32 provinces, reducing the SME sec-tor’s gross domestic product by Bt24 billion per month, according to the Office of Small and Medium Enterprises Promotion (Osmep).

The Industry Ministry yesterday announced the registration of flood-affected SMEs that want the government to help rehabilitate...Full story at http://goo.gl/uN4wy

On Prime Minister Yingluck Shi-nawatra’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 in-flicted by the flood.

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

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mains above the European average.In India, China and Thailand, roughly 12 percent of the popula-tion contribute to a pension, while the weaknesses of Thailand’s pen-sion system are...Full story at http://goo.gl/rtpH3

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 mar-kets fund manager.

“We believe Thailand should also remain an attractive place for for-eign direct investment (FDI) due to location advantages, a sup-portive business environment and highly competitive work-force. 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 di-sastrous event,” he said in his note in Franklin Templeton Manage-ment’s website.

The executive chairman of Tem-pleton Asset Management expects the banking sector to...Full story at http://goo.gl/WAfLS

Securities companies will be al-lowed to provide wholesale cur-rency exchange services, says Finance Minister Thirachai Phu-vanatnaranubala.

The Bank of Thailand has con-ducted a study on the possibility of securities firms expanding the scope of their business. Initially they can provide wholesale cur-rency exchange services, while re-tail currency exchange is reserved for commercial banks.

Mr Thirachai said the expansion should be done step-by-step, but added securities companies...Full story at http://goo.gl/JG96F

The revival of business and eco-nomic activity after the floods could provoke baht volatility after many months of mild movement, analysts say.

Some expect the Bank of Thai-land to be more tolerant of mar-ket volatility as it implicitly pro-motes hedging among market players.

Suchada Kirakul, a central bank deputy governor, said last week that the bank had been more re-strained in buying US dollars from the market to smooth volatility, wanting private-sector actors to be more attuned to their own risks...Full story at http://goo.gl/WDsdx

The Japanese government is pre-paring 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 facto-ries.

Loans would be backed by Japa-nese government bonds and the Bank of Japan would be involved in disbursing the baht funds in the event of cash shortages, Tsutomu Okubo, a lawmaker and deputy policy chief for the ruling Demo-cratic Party of Japan said in an interview in Tokyo yesterday. The BOJ said today it is working with Thailand’s central bank to arrange the program...Full story at http://goo.gl/d9wZE

Thai stocks are set to halt a two- year rally as “disastrous” flooding

Thailand is attractive, despite floods: Mobius

Securities firms okayed to offer wholesale services

Baht outlook anyone’s guess

Japan Plans Baht Loans to Aid Companies Hurt by Thai Floods

Thai Stocks to Halt Two-Year Gain on Floods

hurts the economy and curb cor-porate 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 invest-ment 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

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Rising costs in China are prompt-ing high-tech companies in Asia to explore alternative sourcing loca-tions 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 em-phasis on supply chain risk aware-ness and mitigation.”

The survey, conducted by IDC

Japanese companies, Thailand’s biggest foreign investors, may spend more to build factories in neighbors including Indonesia and Vietnam after the worst flood-ing in 70 years disrupted global production.

“Executives recognize the con-centration risk after the floods,” said Takahiro Sekido, chief Japan economist at Credit Agricole CIB in Tokyo. “The recent trend of ac-celerating investment into Thai-land will cool despite the fact that Thailand was such an ideal desti-nation.”...Full story at http://goo.gl/7e5lc

Automakers seek to cut parts costs: The government is being urged to consider waiving duties on auto parts imported from outside Ase-

Amata Corp and Hemaraj Land and Development are expected to perform well in 2012 on expec-tations of increased demand for land in dry industrial estates in the aftermath of the floods, brokerage houses said.

DBS Vickers Securities (Thailand) and CIMB Research shared the view that the two industrial estate developers would enjoy higher land sales next year, as none of their estates was affected by the floods, which have inundated sev-en industrial estates in Ayutthaya

Year-on-year rise of 0.3% in soggy October: The effect of the flood crisis on a wide range of manu-facturing sectors slowed October’s export growth to only 0.3% year-on-year to US$17.2 billion, the lowest rate in two years.

Deputy Commerce Minister Siriwat Kachornprasart said the plunge reflected production sus-pensions among producers of ma-jor export items such as comput-ers and electronics, electrical...Full story at http://goo.gl/6hp3G

High-tech companies look beyond China for alternative sourcing locations: Study

Amata, Hemaraj’s dry estates well placed for 2012

Thai Floods May Shift Japan Investment to Indonesia, Vietnam

Duty waiver urged

Export growth is lowest in 2 years

an to help Thai manufacturers not yet affected by the floods to con-tinue their operations.

The tax waiver is urgently needed because unusually high automo-bile demand is expected, especial-ly for versatile pickup trucks,...Full story at http://goo.gl/1CVn7

and Pathum Thani.

Amata operates two industrial es-tates in Chon Buri and Rayong. Hemaraj operates...Full story at http://goo.gl/zdxQg

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mains above the European average.In India, China and Thailand, roughly 12 percent of the popula-tion contribute to a pension, while the weaknesses of Thailand’s pen-sion system are...Full story at http://goo.gl/rtpH3Infrastructure/Logistics

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Restoring the inundated Don Mueang airport could cost nearly a billion baht based on a conserva-tive preliminary estimate, but the amount could shoot up to several billion if the damage proves to be more extensive.

Such a prohibitive cost could make a dent in the balance sheet of Air-ports of Thailand Plc (AoT), add-ing to falling revenue as a result of declining air traffic through its main airport, Suvarnabhumi, as floods have driven away travellers.

But the good news is the burden of restoring the country’s second-largest airport will be partly borne by the national coffers and new financial aid pledged on Wednes-day by US Secretary of State Hill-ary Clinton.

The SET-listed and majority state-owned airport operator is seek-ing...Full story at http://goo.gl/GU5xi

Japan is prepared to offer unlimit-ed soft loans for 40 years at interest of less than 1% to the Thai govern-ment to help fund infrastructure to prevent floods and drought in the long term.

The loans would be made through the Japan International Coopera-tion

Agency, said Energy Minister Pi-chai Naripthaphan, who met yes-terday with JICA executives and Japanese Ambassador Seiji Ko-jima.

Mr Pichai said the Japanese gov-ernment suggested Thailand in-vest in projects that could...Full story at http://goo.gl/rJCFr

Exporters and importers want the Port Authority of Thailand (PAT), the Customs Department and banks to ease regulations and waive fees collected on containers stranded in port by the months-long flooding.

Thongyu Khongkhan, a vice-pres-ident of the Thai Logistics Services Provider Federation, said thou-sands of containers are stranded in Klong Toey and Laem Chabang ports because the factories that ordered the cargo are now inun-dated.

The cargo comprises raw materi-als, equipment, machinery, parts...Full story at http://goo.gl/pv6BB

Thailand has endured a perfect storm of factors, both natural and man-made, that have starkly ex-posed the consequences of poor planning and management.

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-employed, with economic losses estimated as high as 500 billion baht, or 5% of gross domestic product.

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

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

Don Mueang rehab costly

Japan ready to offer infrastructure loans

Relief sought for stranded cargo

Cause and effect

Ratch moves on Australia

in Australia while also looking for opportunities in New Zealand.

The move comes after Ratchaburi through its wholly owned RH In-ternational (Singapore) Corpora-tion PTE in March bought 56.16% of Australia’s Transfield Services Infrastructure (TSI) Fund for 6.7 billion baht.

TSI Fund operates eight power plants in Australia.

Ratchaburi in June officially be-came the largest shareholder in...Full story at http://goo.gl/xUWXk

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lanoitan tsekaew eht ot emoh erapension systems in the world, crippled by a mix of acute sover-eign debt, young retirement ages, high ratios of pensioners to work-ers and poor pension take-up, a study showed.

-sion Sustainability Index, which tracks the relative sustainabil-ity of national pension systems in 44 countries around the world, showed the number of Greek re-tirees to people of working age re-

Land subsidence caused by ground water losses tops the list of prob-lems that must be solved in Bang-kok to mitigate the impact of the a study by multinational agencies.

a report entitled “Climate Risks and Adaptation in Asian Coastal Megacities”, jointly conducted by the Asian Development Bank, the Japan International Cooperation Agency and the World Bank in 2010.

Full story at http://goo.gl/20yMD

leads on to fortune”, wrote Wil-

-sis 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 able to sustain a certain degree of shocks from the fallout in the Western Hemisphere, according to a panellist at a recent Asean conference.

future, and the Asian crisis in

-mentum to the East has opened up numerous opportunities that Asian countries should not miss out, suggests an economist.

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







General Interest

http://goo.gl/ozbNM

Sponsored by...

goo.gl/bH6PF

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

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 eas-ily forget that the business world has cycles, too. We are all familiar with the economic business cycle of expansion, contraction and re-covery. However, other cyclical Full story at http://goo.gl/fJolr


mains above the European average.

roughly 12 percent of the popula-tion contribute to a pension, while -sion system are...Full story at http://goo.gl/rtpH3Infrastructure/Logistics

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Restoring the inundated Don Mueang airport could cost nearly a billion baht based on a conserva-tive preliminary estimate, but the amount could shoot up to several billion if the damage proves to be more extensive.

Such a prohibitive cost could make a dent in the balance sheet of Air-

-ing to falling revenue as a result

main airport, Suvarnabhumi, as

But the good news is the burden of restoring the country’s second-largest airport will be partly borne

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Exporters and importers want

(PAT), the Customs Department and banks to ease regulations and waive fees collected on containers stranded in port by the months-

Provider Federation, said thou-sands of containers are stranded in Klong Toey and Laem Chabang ports because the factories that ordered the cargo are now inun-dated.

-als, equipment, machinery, parts...Full story at http://goo.gl/pv6BB

storm of factors, both natural and man-made, that have starkly ex-posed the consequences of poor planning and management.

When all is said and done, the

history.

One-third of the country under water. Nearly 10 million people

-employed, with economic losses estimated as high as 500 billion baht, or 5% of gross domestic product.

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

Ratchaburi Electricity Generat-

private power producer, is poised to expand its energy operations

Don Mueang rehab costly

Japan ready to offer infrastructure loans

Relief sought for stranded cargo

Cause and effect

Ratch moves on Australia

in Australia while also looking for opportunities in New Zealand.

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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 in-surers have underwritten as much as 70 percent of seven flooded in-dustrial 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

Thailand risks losing its attractive-ness as an Asean manufacturing 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 com-prehensive assessment of flood losses. The Office of the Insurance Commission tentatively put losses at 140 billion baht, including dam-ages to seven industrial estates in Ayutthaya and Pathum Thani....Full story at http://goo.gl/u27XA

MasterCard Worldwide on Nov 2 launched DXB Connect, the world’s first airport prepaid Mas-

Foreign reinsurers will not leave Thailand despite the huge estimate of claims from the flooding but they will impose more conditions and hike premiums.

“Like in other industries, reinsur-ers have to continue doing busi-ness but they will try to balance their losses with income. They may consider with their customers [insurance companies] new con-ditions to balance benefits,” Pichit Mekkittikul, managing director

The retail market is expected to be a big loser, with 2011 growth slashed from the 7-8 per cent pre-dicted earlier to only 4-5 per cent, as the massive flood dampens shopper sentiment.

“Many commodities have been packed in survival kits and do-nated to flood victims. This causes many products to disappear from the retail system,” Chatchai Tuan-grattanapan, director of the Thai...Full story at http://goo.gl/fGbFd

Thai Flood May Lead to $2.5 Billion Payout by Japan Insurers

Foreign reinsurers likely to set new conditions

Thirachai: Insurers need to be won in restoring confidence

First airport prepaid card launched

Retailers slash 2011 growth estimates to 4-5 per cent

terCardcard, at Dubai Airports. Aiming primarily at airport cli-entele, the card offers over 50 mil-lion passengers annually travel-ling through Dubai International a convenient and safe method to make airport purchases in local currency (AED).

“We are very excited about the...Full story at http://goo.gl/pHO7i

of Independent Consultant Co, a leading local insurance brokerage, said last week.

The flood crisis will prompt the insurance business, including in-surers, reinsurers and insurance brokers, to talk about the new...Full story at http://goo.gl/pOb2A

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mains above the European average.In India, China and Thailand, roughly 12 percent of the popula-tion contribute to a pension, while the weaknesses of Thailand’s pen-sion system are...Full story at http://goo.gl/rtpH3IT / Comms

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Huawei Technologies is forging ahead with expansion of its new enterprise business to ride emerg-ing-market growth.

The Chinese ICT provider uses Thailand as its regional head-quarters for enterprise business in Southeast Asia.

Yang Hua, the president of enter-prise business at Huawei Technol-ogies in Southeast Asia, calls Thai-land a top-three priority market for enterprise business in terms of revenue contribution in Asia, next to Hong Kong and Taiwan.

Since setting up the local unit in March, Mr Yang says Huawei has high hopes for the local enterprise business and foresees growth in line with revenue targets.

Huawei is aiming for global enter-prise revenue to double to US$4...Full story at http://goo.gl/vuKGt

Thai digital consumers spend av-erage 17 hours per week online, thanks to rapid high-speed inter-net access and WiFi as well as in-creasing ownership of mobile con-nected devices, according to the inaugural Nielsen Southeast Asia Digital Consumer Report.

Time spent online surpasses time spent on traditional media such as television, radio or print.

Examining the digital media habits and attitudes, the report revealed that Thailand digital consumers spend almost three quarters (72 per cent), engage in multi-media...Full story at http://goo.gl/TltEY

The National Broadcasting and Telecommunications Commis-sion (NBTC) might consider re-vising the regulations governing foreign dominance of the telecom sector amid concerns that the cur-rent rules might contravene the country’s free-trade principles.

The watchdog’s telecom commit-tee will hold a hearing among specific groups of people on No-vember 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

Flooding is projected to reduce IT spending in Thailand by 4% to 182.4 billion baht this year un-der 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 coun-try’s worst floods in 70 years.

Spending from government, cor-porate and consumer segments make up relatively equal portions of the country’s overall IT spend-ing.

But leading IT retail chains fore-see total IT sales could fall by up...Full story at http://goo.gl/YpML4

CAT Telecom and True Corp group next week will discuss

Huawei hails Thailand as regional hub

Thais spend average 17hrs online per week

NBTC open to amending regulations on foreign investors Local IT spending

likely to take 4% hit this year

CAT, True to discuss anti-monopoly amend

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

CAT chief executive officer Jira-yuth Rungsrithong said yester-day that his agency had asked the National Broadcasting and Tele-communications 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

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 lo-cated 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 Su-zuki No Osashimi (Thinly sliced sea bass with yuzu, truffle oil and salmon roe), Gyuhire Sum-ibiyaki 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

Award-winning ZUMA opens sixth restaurant in Bangkok

marinated in barley miso, oven roasted on cedar wood). In addition, the talented bar team and sommeliers have created an exciting cellar fea-turing 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 coun-ter and sushi bar. The combina-tion of the three different cook-ing styles results in a mixture of tastes, temperatures and tex-tures that create an exciting and fun dining experience.

“We are delighted to be open-ing our sixth restaurant in Bang-kok. The city’s lively cosmopoli-tan, yet traditional character very much complements ZU-MA’s energy”, said Chef Rainer Becker. “Zuma is a modern Japanese restaurant, yet it re-spects tradition in not only the food but also in the design and approach.”




Tourism

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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 nearly past the flood crisis.

“It should be clear by now that the flooding situation will soon be over, and people will need

Thailand Convention and Exhibi-tion Bureau (TCEB) vows to re-cover the MICE industry within June 2012, after cancellations be-cause 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

Spiritual & holistic services are set to be the most important as-sets and demand components of the health and wellness sector in the Far East and South East Asia by 2020, according to a research report distributed at the World Travel Market 2011 here last week.

Published by Wellness Tour-ism Worldwide (WTW), a newly formed alliance of wellness and tourism related businesses, or-ganisations and institutions, the research also forecasts that private health insurance will...Full story at http://goo.gl/M8D3s

The Tourism Authority of Thai-land (TAT) is targeting visitors from South America as arrivals from Europe and North America slow due to fears of economic

With the impact of the severe flooding on the tourism industry estimated at Bt70 billion, interna-tional and local tourism organisa-tions are discussing ways of pro-tecting the sector against future disasters.

The Pacific Asia Travel Associa-tion (PATA) will host a meeting in Bangkok on Wednesday(Nov 23) focusing on the impacts of the flood crisis and ways to rebuild the tourism industry.

According to Suraphon Svetas-reni, governor of the Tourism Authority of Thailand (TAT), the tourism sector has...Full story at http://goo.gl/PGwcX

Thailand set to make strong pitch at London travel mart

TAT turns to S America as Europe, US arrivals slow

MICE industry to return to normal in Q3

Making the most of wellness tourism

Post-flood rehab plan for tourism sector

downturns there.

The authority is focusing on two big emerging markets, Brazil and Argentina, by matching Thai op-erators with the two countries. The TAT recently took officials from four Thai travel firms to Bra-zil 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

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 pre-pare for...Full story at http://goo.gl/G8fkX


















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mains above the European average.In India, China and Thailand, roughly 12 percent of the popula-tion contribute to a pension, while the weaknesses of Thailand’s pen-sion system are...Full story at http://goo.gl/rtpH3Real Estate

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The condominium market’s growth was severely curtailed last quarter by doubts over the govern-ment’s policy to offer incentives to first-home buyers, according to Colliers International Thailand’s latest research report.

Just 3,000 units were launched in the third quarter, down 74 per cent from 11,600 in the second quarter and the lowest number recorded in the past three years. The incentives favour properties that are already under construc-tion and can be completed before the end of next year, as that would prove to be an extremely chal-lenging time-frame for any newly launched condominium project.

Tony Picon, associate director of research, said last week that buy-ers are waiting to see the full pic-ture emerge before stepping in, and developers are taking note and delaying...Full story at http://goo.gl/r8k5k

Developers, banks poised for move into reviving segment: Home-buyers are likely to shift their focus to condominiums and ensure housing projects in the provinces are in flood-free zones, according to bank executives.

There will be a renewal of interest in condominium projects after the recent slowdown due to concerns of a bubble.

Residents have seen that low-rise detached houses and townhouses became vulnerable during the re-cent flooding and hence there is likely to be a surge in demand for condominiums. Developers are expected to...Full story at http://goo.gl/1xAQiThe Treasury Department is pre-

paring to announce an average increase of 20% in land valuations nationwide but it has not yet taken the impact from current flooding into account, says director-general Naris Chaiyasoot.

However, officials suggested the floods may give property devel-opers an opportunity to buy land at lower cost in some areas where owners want to sell because they have faced flooding or fear future flood risk.

As well, general investors will see this as an opportunity to...Full story at http://goo.gl/wn6wc

Thailand is in the grip of a flood crisis that seems to have affected everyone both physically and mentally – especially residents of Bangkok, where there is a sense of panic.

One of the questions that those in the real-estate sector should be ready to answer is how the cur-rent flooding will impact prop-erty prices. I shall try to address that question based on studies from around the world.

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

Commercial real estate sales in Asia-Pacific increased 36% quar-ter-on-quarter during the third quarter of 2011, althoughthe bulk

Condo sales suffered in Q3

Floods likely to renew interest in condos

New land valuations likely to rise by 20% on average

Don’t panic! The floods and Bangkok’s property prices

Commercial deals healthy

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

Transaction volume in Asia grew 55% quarter-on-quarter while the Pacific was largely unchanged, ac-cording to CBRE’s Asia-Pacific Capital Markets MarketView re-port.

The total volume of cross-border acquisitions across Asia-Pacific rose by 112% quarter-on-quarter although this was largely due to...Full story at http://goo.gl/LaTGh

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Environment / CSR

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The recent announcement that China’s Suntech Power Holdings, the world’s largest solar-energy company, is considering invest-ing in a solar-cell assembly plant in Thailand is welcome news and hopefully a sign of more good things to come.

Thailand, over the best part of the past decade, has successfully established itself as Southeast Asia’s largest renewable-energy market, offering strong incen-tives to attract investment in all forms of renewables, from bio-

Good Corporate Citizenship and Corporate Social Responsibil-ity (CSR) have gone beyond just marketing communication activi-ties and become the core DNA of business organisations, experts said recently.

Speaking at the seminar on “Driv-ing Good Corporate Citizenship” organised recently by Krungthep Turakij newspaper, Dr Krittinee Nuttavuthisi, assistant profes-sor at Sasin Graduate Institute of Business Administration of Chu-lalongkorn University, Bangkok, said that many companies earlier recognised CSR campaigns as...Full story at http://goo.gl/jYrSd

Despite the bleak outlook of the post-2012 international carbon agreement, Asia has shown signs that demonstrate the region’s

The government has earmarked 1.55 billion baht in grants and soft loans for businesses that agree to participate in an energy-saving and production efficiency en-hancement programme.

Twarath Sutabutr, deputy direc-tor-general of the Alternative Energy Development and Effi-ciency Department, said several thousand small and medium-sized enterprises with flood-damaged machinery and equip-ment can replace them with

Proposal seen as too soon, too much: Thailand disagreed with a US proposalto accelerate the tariff cut for 153 environmental-related products and services to 5% by next year under a “green growth” promotion at the Asia

Pacific Economic Cooperation (Apec), saying the country would not be ready for the programme until 2015.

Srirat Rastapana, director-general... Full story at http://goo.gl/5g9gD

Kingdom’s ambitious renewable-energy sector attracts ChinaB1.55bn slated for

green equipment

Companies want to make a difference

Life after Kyoto

Thailand rebuffs green tariff proposal

commitment toward the global emissions-reduction agenda, ex-perts say.

With the Kyoto Protocol about to expire next year, uncertainties ex-ist about the climate change target and a new agreement of compa-rable scale to be reached for 2013 and beyond....Full story at http://goo.gl/N8VsV

more efficient units.

The money has been allocated largely from the Energy Conser-vation Fund.

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Among major Asean member countries, internal dynamics are at play.

Malaysian leaders are busy on overseas trip to lure foreign in-vestors highlighting sustained in-vestment in knowledge and skills; Singporean SMEs are mitigating across the region; Indonesians – brimmed with democratic and lib-eralization progress – are putting domestic economy on a firm foot-ing; the Philippines are starting to tie in to the regional supply chain to boost employment and growth; and major Thai corporations are advancing across the borders in greater force than ever before.

Is Asean Economic Community (AEC) indeed poised to become a watershed in the advancement of the 10-member regional bloc as it takes effect in 2015? Not quite so...Full story at http://goo.gl/zc5vi

In a recent address in Kuala Lum-pur, the former British prime min-ister urged Asean to learn lessons from the EU’s mistakes and re-main on track for tighter regional unity.

KUALA LUMPUR : Despite the recent perils experienced by the 27 members of the European Union, the 10-member Asean grouping is still being encouraged to keep the unification momentum going.

“Integration is a good idea, and Europe today has achieved a lot over the years through this pro-cess,” said former British prime minister Tony Blair, who...Full story at http://goo.gl/cmyNJ

Asean sect gen says Thailand is moving too slowly in preparing for 2015 community – Surin Pit-suwan, secretary-general of the Association of Southeast Asian Nations, last week voiced concern over Thailand’s slow pace of prep-aration for the Asean Economic Community, when seven profes-sions will be the first areas of the labour market to be freed up in 2015.

“If we’re not prepared, we’re not qualified, we’re not able to com-pete while others are moving into the Thai economy and landscape. I’m worried that they will take ad-vantage of our country,” he said.

He was speaking at the Asia Edu-cation Leaders Forum co-locat-ed with Worlddidac Asia at the Queen Sirikit National...Full story at http://goo.gl/Ch910

More than half of CEOs in the Asia-Pacific region are ‘very con-fident’ of increased revenue for their companies over the next three to five years, up slightly from a year ago. More than 40 per cent of CEOs say their single greatest opportunity for growth will stem from the rise in spend-ing power in Asia, particularly in China. These were the key find-ings from a survey by PwC of more than 320 CEOs across 26 countries, including the 21 APEC economies, for the Asia-Pacific...Full story at http://goo.gl/d80G8

The downbeat global environment will weigh on growth across all five ASEAN members: A research unit of Moody’s Investors Service said in a report that the deteriorating external situation will cap ASE-AN growth below trend at about 4.8 per cent in 2011, and slightly weaker in 2012.

“Thai industry is growing at two speeds, with producers selling to the domestic market faring bet-ter than their export-dependent counterparts — textiles, cloth-ing and electronics are feeling the pinch from a weaker global econ-omy. The floods in Thailand...Full story at http://goo.gl/RL2dz

Doubts over readiness of ‘Corporate ASEAN’ by 2015

Blair: Don’t hesitate, integrate

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

Asia-Pacific CEOs have strong confidence in growth

ASEAN losing steam: Moody’s Analytics


The ChambersThe American Chamber of Commerce in Thailand (AMCHAM Thailand)

7th Floor, GPF Witthayu Tower A, 93/1 Wireless Road, Lumpini, Pathumwan, Bangkok 10330Tel: +66 (0)2 254 1041 Fax: +66 (0)2 251 1605 Website: www.amchamthailand.comEmail: [email protected]

AMCHAM would like to recognize our member companies who are ac-tively supporting Thai communities. This support includes emergency aid to assist flood victims and long-term community partnerships, such as corporate social responsibility programs that will benefit commu-nities for years to come. Assistance to Flood VictimsIn response to the flood, AM-CHAM companies have con-

http://goo.gl/mbUpG

tributed financial and personnel assistance, which includes the fol-lowing contributions:• Citibank has contributed Baht

13.7 million to the Thai Red Cross and Citi staff have volun-teered at Don Muang and Ayu-thaya relief centers;

• Chevron have made several con-tributions, totaling Baht 66 mil-lion;

• Coca-Cola has donated 500,000 bottles of drinking water;

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
















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AMCHAM CSR awardsOn November 23, AMCHAM presented 27 companies with ACE recognitions, an apprecia-tion presented by the AMCHAM Corporate Social Responsibility Excellence Recognition Program (ACE).

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 prin-cipled business and community practices benefited their employ-ees, business partners and the people of Thailand,” stated AM-CHAM President, Peter Eliot.

• Dow Chemical Thailand donat-ed Baht 200,000, and Dow em-ployees donated Baht 135,000, to the Thai Red Cross; the company also allocated Baht 250,000 for post-flood farmer assistance;

• FedEx Express has donated Baht 450,000 and 100, ten kilogram, relief packages to the Thai Red Cross;

• Ford Motor Company has donated Baht one million to the Thai Red Cross and made available five Ford Ranger and Everest vehicles for their ongoing relief activities;

• General 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 commu-nity with a donation of Baht one million and diesel fuel for water pumps, portable water pumps, sand bags and food and water;

• Seagate Technology (Thailand) has donated Baht 30 million, distributed to the Chaipattana Foundation, the Thai Red Cross and Give2Asia. Seagate em-ployees 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 sur-vey, not one American business has reported closing their Thai-land operations due to the flooding.

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The ChambersThe Australian-Thai Chamber of Commerce (AustChamThailand)

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 pro-cesses whilst preparing for the year ahead. We averaged more

20th Floor, Thai CC Tower, 889 South Sathorn Road, Yannawa, Bangkok 10120Tel: +66 (0)2 210 0216-8 Fax: +66 (0)2 675 6696 Website: www.amchamthailand.comEmail: [email protected] 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 be-tween Australia and Thailand. This promises to bring with it many opportunities to cel-ebrate friendship, and will be a time for the Thai-Australia re-lationships to shine! It will be a great year to be associated with the Chamber.

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
















General Interest

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For the flooded month of No-vember, over half the AustCham staff were affected directly by the water alongside their members – some of whom have suffered sig-nificant loss. To contribute to the flood response and recovery pro-cess, AustCham held two panel discussions with high-profile in-dustry leaders who spoke on a broad range of topics including the causes of the flood, media management strategies and spe-cialised cleaning processes for of-fices and factories.

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 mem-bers 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 Sun-downers at their residence. Aus-tCham is pleased to extend this invitation to members and thanks the Ambassador and his wife for their hospitality.


The ChambersBritish Chamber of Commerce Thailand (BCCT)

ABOUTEstablished since 1946, British Chamber of Commerce Thailand (BCCT) currently has a member-ship of approximately 600, with nearly 3,000 named representa-tives covering a broad cross-sec-tion of business interests in Thai-land.

The BCCT is one of the most ac-tive foreign chambers in Thai-land, holding close to 100 events throughout the year. These range from special lectures, presenta-tions and panel discussions with guests from the Thai and UK gov-ernment representatives, and the business sectors. Networking eve-nings are held monthly in Bang-kok and the Eastern Seaboard.

BCCT aims to foster partnerships and strengthen ties between Thai-land 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 mem-bers’ interests.

Membership is open to companies and individuals of all nationalities.

ACTIVITIES/SERVICESBCCT Website: www.bccthai.comThe BCCT website is the major communications vehicle for the BCCT. Members can find the lat-est 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 OpportunitiesNetworking 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 mem-bers and providing public rela-tions exposure. Business PresentationsA number of special interest top-ics are presented by experts ei-ther over breakfast briefings, luncheons, or evening panel dis-cussions. Guest speakers have in-cluded Prime Ministers of Thai-land, 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 con-ducted in Thai and adopt a partici-pative approach. They range from half day to three days. Business Introductions/ReferralsMembers can utilise the experi-ence 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. CharitiesThe BCCT also supports a wide range of children’s and education-based charities in Thailand. The Chamber works closely with the British Community in Thailand Foundation for the Needy (BCT-FN), which organises the Annual Ploenchit Fair.

Sports & SocialThe BCCT organises annual foot-ball 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 busi-ness associates coming together to celebrate the festive season.

Office HoursOpen weekdays from 8.30 am –

4.30 pm, the BCCT office also in-corporates a small library provid-ing access to UK and Thai trade directories/CD ROMs, Chambers of Commerce handbooks, busi-ness 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 Facebook ‘British Chamber of Commerce Thailand’.

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
















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7th Floor, 208 Wireless Road, Lumphini, Pathumwan, Bangkok 10330Tel: +66 (0)2 651 5350-3 Fax: +66 (0)2 651 5354 Website: www.bccthai.comEmail: [email protected] http://goo.gl/Vav3Q


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15 Soi Tonson, Ploenchit RoadLumpini, PathumwanBangkok 10330

Tel: +66 (0)2 309 5250 Website: www.beluthai.orgEmail: [email protected] http://goo.gl/EGpi8

Belgian-Luxembourg/Thai CC (BeLuThai)3601 36th Floor, Q Houses Lumpini Bldg.,South Sathorn Rd., Tungmahamek, SathornBangkok 10120Tel: +66 (0)2 677 7393 Fax: +66 (0)2 677 7394 Website: www.mtcc.or.thEmail: [email protected] http://goo.gl/Xqn32

Malaysian-Thai CC (MTCC)

No. 13, Sathorn Soi 1, Thungmahamek, Sathorn, Bangkok 10120Tel: +66 (0)2 287 3001 Fax: +66 (0)2 679 7720 Website: www.itcc.or.thEmail: [email protected] http://goo.gl/j3q0Y

India-Thai CC (ITCC)10/143 (1503A), 15th Fl The Trendy Bldg Soi Sukhumvit 13, Klongtoey-Nua, Wattana Bangkok 10110Tel: +66 (0)2 168 7416-7 Fax: +66 (0)2 168 7418 Website: www.satcc.netEmail: [email protected] http://goo.gl/szwoZ

South African-Thai CC (SATCC)

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

Franco-Thai CC (FTCC)9th Floor, ITF Tower, 140/26 Silom Road,Bangrak, Bangkok 10500Tel: +66 (0)2 634 3283 Fax: +66 (0)2 634 3004 Website: www.nztcc.orgEmail: [email protected] http://goo.gl/7IxHW

New Zealand Thai CC (NZTCC)

15th floor Amarin Tower, 500 Ploenchit Road,Kwang Lumpini, Khet Patumwan Bangkok 10330Tel: +66 (0)2 256 9170-3 Fax: +66 (0)2 652 0931 Website: www.jcc.or.thEmail: [email protected] http://goo.gl/Ak9yr

Japanese CC (JCC)139 Pan Road, Sethiwan Tower, 9th Floor,Silom, Bangrak,Bangkok 10500Tel: +66 (0)2 266 6085/6 Fax: +66 (0)2 266 6087 Website: www.tccc.or.thEmail: [email protected] http://goo.gl/xOX5c

Thai-Canadian CC (TCCC)

34 C.P. Tower 3, 9th Floor Tower A, Phayathai Road, Ratchathewi, Bangkok 10400Tel: +66 (0)2 354 5220 Fax: +66 (0)2 354 5221 Website: www.dancham.or.thEmail: [email protected] http://goo.gl/9Y8wd

Danish-Thai CC (Dancham)15 Soi Tonson, Ploenchit RoadLumpini, Pathumwan,Bangkok 10330

Tel: +66 (0)2 309 5250 Website: www.ntccthailand.orgEmail: [email protected] http://goo.gl/WaAzA

Netherlands-Thai CC (NTCC)

Maneeya Center Bldg, 7th Fl, 518/5 Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330Tel: +66 (0)2 652 0848 Fax: +66 (0)2 652 0671 Website: www.irishthaicc.comEmail: [email protected] http://goo.gl/vTn6j

Irish Thai CC (ITCC)

25th Fl., Empire Tower 3, 195 South Sathorn RoadYannawa, SathornBangkok 10120Tel: +66 (0)2 670 0600 Fax: +66 (0)2 670 0601 Website: www.gtcc.orgEmail: [email protected] http://goo.gl/KizCx

German-Thai CC (GTCC)193/8 Lake Rajada Office Complex, 1st FloorRachadapisek Road, Klongtoey, Klongtoey, Bangkok 10110Tel: +66 (0)2 264 0680-4 Fax: +66 (0)2 264 0688 Website: www.singaporethaicc.or.thEmail: [email protected] http://goo.gl/hwtqK

Singapore-Thai CC (STCC)

36/9-10 Chaengwattana RoadKwaeng Thungsonghong, Khet LaksiBangkok 10210Tel: +66 (0)2 982 4896 Fax: +66 (0)2 982 4897 Website: www.swissthai.comEmail: [email protected] http://goo.gl/EQ7pz

Swiss Thai CC (STCC)


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Thai C. C. Tower 9th Fl., 889 South Sathorn Rd., SathornBangkok 10120Tel: +66 (0)2 675 8577-84 Fax: +66 (0)2 212 3916-7 Website: www.thaicc.orgEmail: [email protected] http://goo.gl/nvgVp

Thai-Chinese CC (Thai-CC)Thai Samut Asset Co., Ltd., Unit J, 16th Floor, 163 Suriwongse Road, Bangrak, Bangkok 10500Tel: +66 (0)2 634 0147-8 Fax: +66 (0)2 634 0149 Website: www.thai-pakistanchamber.comEmail: [email protected] http://goo.gl/PQj3C

Thai-Pakistan CC (TPCC)

1126/2 Vanit II Building, 16th Floor, 1601B New Petchburi Rd., Makkasan, Rajdhevee,Bangkok 10400Tel: +66 (0)2 255 8695 Fax: +66 (0)2 253 9896 Website: www.thaitch.orgEmail: [email protected] http://goo.gl/AAoTx

Thai-Italian CC (TICC)38th Floor, State Tower 1055/914 Silom Rd, Silom, Bangrak, Bangkok 10500Tel: +66 (0)2 630 6307Fax: +66 (0)2 630 6303 Website: www.jfcct.orgEmail: [email protected] http://goo.gl/PVRjt

Joint Foreign CC of Thailand (JFCCT)

Empire Tower, 25th Floor, 195 South Sathorn Road, Yannawa, Bangkok 10120Tel: +66 (0)2 343 9000 Fax: +66 (0)2 343 9029 Website: www.thta.or.thEmail: [email protected] http://goo.gl/qY8zE

Thai-Hong Kong Trade Association (THTA)

888/142 Ploenchit Rd, 14th Fl., Mahatun Plaza, Lumpini, Pathumwan, Bangkok 10330Tel: +66 (0)2 650 8444 Fax: +66 (0)2 627 3042 Website: www.norcham.comEmail: [email protected] http://goo.gl/wom78

Thai-Norwegian CC (TNCC)

C/O FINPRO Office, Netpoint SEA Ltd. 2nd Floor Wandee Siam Bldg, 58/84 Muangthong Thani, Chaengwattana, Klongklua, Nonthaburi 11120Tel: +66 (0)2 574 2879-80 Fax: +66 (0)2 574 2877 Website: www.thaifin.or.thEmail: [email protected] http://goo.gl/bZC1O

Thai-Finnish CC (TFCC)14th Floor Loxley Bldg, 102 Na Ranong Road, Klong Toey, Bangkok 10110Tel: +66 (0)2 348 8873 Fax: +66 (0)2 240 3307 Website: www.trcc.or.thEmail: [email protected] http://goo.gl/Pk8wu

Thai-Russian CC (TRCC)

6th Fl. Rajapark Bldg, 163 Asoke Sukhumvit 21 Rd, Klong Toey Nua, WattanaBangkok 10110Tel: +66 (0)2 204 2503 Fax: +66 (0)2 204 2504 Website: www.korchamthai.comEmail: [email protected] http://goo.gl/H33BK

Korean-Thai CC (KTCC)

14th Fl., Manorom Building, 3354/45 Rama 4 Rd., Klongton, Klongtoey, Bangkok 10110Tel: +66 (0)2 672 7020 Fax: +66 (0)2 672 7021 Website: www.thaisraelcc.comEmail: [email protected] http://goo.gl/ua3Aw

Thai-Israel CC (TICC)No. 30/207 Sukhumvit Soi 39, Sukhumvit Rd., Kiongtannua, Bangkok 10110Tel: +66 (0)2 662 7335-6, 662 7385Fax: +66 (0)2 662 7382 Website: www.ttba.or.thEmail: [email protected] http://goo.gl/DdLeZ

Thai-Taiwan Business Association (TTBA)

34 C.P Tower 3, 9th Floor Tower A, Phyathai Rd, Ratchathewi Bangkok 10400Tel: +66 (0)2 354 5229-31 Fax: +66 (0)2 354 5232 Website: www.swecham.comEmail: [email protected] http://goo.gl/rPFRL

Thai-Swedish CC (TSCC)

Just like any good business, we have already set goals for the future.

As we expand, we will be adding new features and highlights to Bangkok Business Brief, such as expert reports and perspectives, coverage of forecasts and trends, Board of Investment and SME and other business organizations (e.g., Rotary) news, editorials (including your letters and emails), a B2B marketplace, industry ratings, people on the

Where do we go from here?rise/move, and the addition of other news sources as they report on business news in Bangkok, Thailand, and the SE Asia region and beyond.

As we expand our business, expand yours as well by marketing your business through advertising in these pages and on our website. Grow with us!

Contact Andy Hyde at 080-814-9080 or through email to [email protected].


Thailand struggles on ASEAN scorecardStory continued from Page 1.

The first AEC “scorecard” in 2008-2009 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 fore-see a partial implementation of the AEC goals by 2015 and full in-tegration 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 es-tablished independent competi-tion authorities.

While major multinationals like Deloitte and Toshiba have an-nounced that Thailand will be

their regional hub for the AEC, the Kingdom still lags behind other members in several impor-tant areas. In terms of labour mo-bility, Thailand has yet to change the Thailand-Alien Employment Act, which prohibits foreigners from working in certain profes-sions. The services sector in Thai-land also has a long way to go to achieve the required levels of lib-eralization, especially involving foreign-owned equity and invest-ment, and the food and agriculture sectors have a sensitive cultural element that may be difficult to overcome.

In order to clarify what the po-tential changes and reforms will mean for its members, the Joint Foreign Chambers of Com-merce 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.

“There are many opportunities for Thailand in the AEC, but there

are also many challenges ahead and more work needs to be done to take full advantage of these op-portunities,” he said.

As with most of the AEC bench-marks, proper implementation will require coordination across ministries within each member nation, which may be the biggest obstacle in achieving the dream of 2015. The political will to change multiple established bureaucracies will be necessary for progress to be made.

Whether Thailand’s ministries are willing or able to make these changes and establish protocols for coordination in time for 2015 remains to be seen. But even the current ASEAN Secretary-Gen-eral Khun Surin Pitsuwan has re-cently lamented the slow pace of reform in Thailand.

Problems preparing for 2015 have been exacerbated by the fallout from the Euro crisis, which has highlighted the potential for win-ners and losers in any regional economic union. With the devel-oping CLMV members, the AEC faces the same issues as the EU

with its so-called “second tier” members.

Chris Bruton, Executive Director of Dataconsult Ltd, points out that while there are many positives to come from regional economic in-tegration, it is also a risky proposi-tion.

“We don’t really know who will gain and who will lose,” he said. “I’m concerned about the AEC because of unequal development among members. However, Thai-land could be a net winner in the AEC, but at the moment, it is the bureaucratic issues that need to be tidied up.”

As ASEAN prepares to release its second progress “scorecard” early in 2012, leaders of ASEAN and its member states, especially Thailand, may need to manage ex-pectations for 2015 as the realities and difficulties of full economic integration among ten member states with entrenched proce-dures and traditions become more and more apparent. Over-coming these difficulties may take longer than the three years that remain.

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December

The Calendar

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BCCT: ICT Presentation: Google Thailandhttp://goo.gl/Ma5BwAMCHAM Briefing: U.S. Cmmsr. for Patentshttp://goo.gl/85VxT

AMCHAM: Charit. Fnd. disc. on rebuilding schoolshttp://goo.gl/KZWlLBCCT: Luncheon - Sec. Gen., Natl. Econ. & Soc. Development Board http://goo.gl/Bxbbk

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

AustCham: Board of Directors Meeting http://goo.gl/ajomC

AMCHAM: Talk on HR http://goo.gl/WFgYE

AMCHAM: F&A Ag-Chemical Subgrouphttp://goo.gl/oHLxFAMCHAM: Legal Cmtehttp://goo.gl/jchtr

AMCHAM: ICT Cmte Planning Sessionhttp://goo.gl/Lk9n7

H.M. the King’s Birthday

Constitution Day (sub.)BCCT: Board Meetinghttp://goo.gl/UZOgv

Sunday Monday Tuesday

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

goo.gl/6ngBgBangkok Trader Networking Partyhttp://goo.gl/6ngBg

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Bonjour French Fairhttp://goo.gl/l4oWx

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Franco-Fun Networking Cocktailhttp://goo.gl/E2cAO

Thai-Swe CC Network. http://goo.gl/njYaC

Combined Chambers Football Dinnerhttp://goo.gl/GPNbR

AMCHAM: Travel & Tourism Cmtehttp://goo.gl/bZ5GF

AMCHAM: Food & Agri-Business Cmtehttp://goo.gl/wx2Rq

AMCHAM: SME Cmtehttp://goo.gl/dtoKt

AMCHAM: CSR Cmtehttp://goo.gl/uFjlY

More events for today:http://goo.gl/qD2op

AMCHAM: Manufacturing Cmtehttp://goo.gl/jzetI

AustCham: Christmas Sundownershttp://goo.gl/owKj1 Constitution Day

SwissThai CC Stammhttp://goo.gl/kIXDc

TFCC Pre-Christmashttp://goo.gl/7Kf7m

French-Thai CC Gala: French Avant-Gardehttp://goo.gl/1aZna

AMCHAM: Young Professionals Cmtehttp://goo.gl/j8kuE

AustCham: Volunteer English Teachinghttp://goo.gl/TrHcZ

AMCHAM: Charitable Foundation Cmtehttp://goo.gl/rcACs

AMCHAM: Travel & Tourism Cmtehttp://goo.gl/QFjsk

BOI Fairhttp://goo.gl/a9T3c



AMCHAM: Eckard College Briefinghttp://goo.gl/Ya4du

BCCT: Christmas Luncheonhttp://goo.gl/qfT3x

Bonjour French Fairhttp://goo.gl/l4oWx

AMCHAM: Festive Eggnog Holiday Partyhttp://goo.gl/emRw8

AMCHAM: Luncheonhttp://goo.gl/FcsEO

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

http://goo.gl/l4oWx

Wednesday Thursday Friday Saturday

31

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Send us your business event details for the January issue by December 14th to [email protected]

CHECK US OUT ON FACEBOOK at VODKA CRUISER THAILANDFluid Asia Pacific - Thailand’s leading premium brand importer and distributor

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