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Family Money: Shed
Two Tears for the Two Tiers
By Leslie Wright
The relationship between the Thai banking system and
depositors has, for some, seemed like a marriage made in heaven.
To celebrate this, the Central Bank of Thailand
recently wheeled out a two-tiered wedding cake to be offered to all local
bankers.
Like many practices in Amazing Thailand which don’t
follow the ‘norm’ elsewhere, the cake’s upper layer is larger than
the lower one. And this half-baked confection may yet prove unstable and
collapse in on itself.
But since the lower (smaller) layer was effectively
hidden from view, probably no-one will notice...at least, no-one who
matters.
For those readers who have not yet divined what
‘cake’ I am referring to, or who have not been following the news (or
the Mailbag section of the Pattaya Mail), it is the introduction of
two-tiered interest rates for Thais and foreigners.
First among many
When I first heard that Thai Farmers Bank had suddenly
lowered interest rates on foreigners’ passbook savings, my first
reaction was one of disbelief.
We all know that two-tiered pricing is widely practised
in Thailand, but two-tiered interest rates?
So I checked with my friendly bank manager, who rather
embarrassingly confirmed that this rumour was true. But I was also led to
understand that this applied only to non-resident foreigners’ accounts.
Thus, I understood, those of us with work permits or retiree residency
status were exempt from the two-tiered policy. (The rationale being that
non-resident foreigners are the ones likely to exploit the relative
strength or weakness of the currency and disparity in international
interest rates, whereby windfall profits can be made by the process known
as arbitrage - which I’ll explain later in this article.)
So I also checked with some other local bankers with
whom I have professional dealings, and learned that three months earlier
the Central Bank of Thailand had given permission to all local banks to
apply differentiated interest rates to Thais and foreigners.
However, most of the other banks had “not yet”
implemented this policy since it was “still under consideration” (as
things often are in Thailand) - but likely to happen soon.
Having seen nothing reported in the local press about
this alarming news, I thought it my moral, civic and professional duty to
warn as many of the foreign community as possible about this arbitrary and
unpublicised moving of the banking goalposts.
Since my Family Money articles are typically written at
least a fortnight in advance, a letter to the editor of this newspaper
seemed the appropriate medium. Said letter was published in the August
12th edition.
In Mailbag of August 27th, a letter from a Mr Alan
Smith appeared, questioning my information (despite confirmatory
commentary having appeared elsewhere in the interim), to which I responded
with another letter, published in Mailbag of 3rd September.
In the meantime, however, the dire prediction came to
pass. On 1st September, Bangkok Bank, Siam Commercial Bank and Bank of
Ayudhya all lowered interest rates on foreigners’ passbook savings
accounts.
Looking back
For many years, the baht remained stable against
international currencies, and in an attempt to curb inflation (which for a
couple of decades had been in double digits), local bank interest rates
remained relatively high - ranging up to 17% on fixed-term deposits at
some banks.
Many foreigners who had elected to retire here had
brought over their retirement nest-egg and deposited it in local currency
at these advantageous rates, imagining the status quo would continue
indefinitely.
Well, indefinite was indeed what it turned out to be.
Since interest rates on (especially) the US dollar had
been steadily falling, and there was a perceived stability between the
baht and the dollar exchange rates, many local businessmen had borrowed
cheap dollars abroad and used this either to finance their corporate
expansion, or in some cases, for speculative investment.
One aspect of this speculation I mentioned earlier:
arbitrage.
Arbitrage is the term which refers to the practice of
making a profit out of disparity in interest rates between one country and
another. It works best when the currencies are relatively stable against
each other and can be freely exchanged.
Basically, it works something like this. If the banks
in country ‘A’ offer a higher interest rate than those in country
‘B’, you borrow money from a bank in country ‘B’, exchange it into
the currency of country ‘A’ on which higher interest is earned, and
later exchange it back again into the currency of country ‘B’ and
repay the original loan, keeping the profit gained on the interest rate
disparity.
Alternatively, if banks in country ‘A’ are offering
slightly higher interest rates on (for example) dollar deposits than banks
in country ‘B’, again, you move your capital to country ‘A’,
possibly having borrowed this money from a co-operative friendly banker in
country ‘B’.
Again, if the rate you’re charged for the loan is
lower than the rate you get in the other country for the deposit, you
stand to make a profit.
This differs from the other type of currency
speculation of which our old friend George Soros is so often accused,
which depends on anticipated weakness of a currency. Then, one sells that
currency in exchange for one which is perceived as being stronger,
expecting to buy back the forward forex contract (since this is all done
on margin with paper contracts, not real money) after the exchange rate
has fallen, keeping the differential as windfall profit for yourself.
Typically, the amounts of capital required to make a
decent profit are very large indeed, since the differential may sometimes
only be apparent in the third place of decimals.
This high-flying speculative dealing was all fine so
long as the Thai economy continued to thrive and exchange rates remained
relatively stable.
However, when the bubble broke in August 1997, many
speculative investors suddenly found themselves with debt burdens that
were going to be crippling to repay in suddenly-expensive dollars (the
baht dropping in the last quarter of 1997 to less than half its previous
international value.)
And so the era of crumbling financial institutions and
Non-Performing Loans began.
Ours not to reason why
But to return to the topic of differentiated interest
rates, many affected foreign residents will be shaking their heads and
grumbling about how unfair this policy is, or perhaps questioning the
sanity of those who made that decision.
Some will undoubtedly go into their local bank branch
and harangue the hapless lads & lasses behind the counters and demand
“fair & equal treatment”.
Just as similar behaviour to ticket vendors at tourist
destinations which practise two-tiered pricing will be seen (by Thais) as
uncouth bad manners (because all Thais know from an early age that life is
unfair and accept it), and is directed at someone who has no power to
change the policy of the institution (so your ire vented upon a counter
clerk is in itself unfair), such reactive action in most cases will be an
exercise in futility.
Some cynical readers who have closely followed the
writhings of the local banking system over the past two years may surmise
that the main reason that local bankers have decided to lower interest
rates to foreigners is because these banks have been singularly
unsuccessful in collecting the huge debts owed them by phuyai (which, for
those unfamiliar with the term, is local parlance for ‘big shot’ or
person of influence), and since it would be anathema by local cultural
mores to upset phuyai (and having the cheek to ask him to repay a loan
which he doesn’t wish to repay would certainly upset him!), the
‘easy’ solution to the problem of recouping some of the banks’ lost
revenue (and avoid the embarrassment of bothering phuyai) is to go after
those who have no face to worry about anyway and whose opinions don’t
matter since they have no power to hurt (and are more vulnerable to being
hurt if they dare make a fuss) - the foreigners.
A cynic may very well reason along those lines, and you
may even agree with him. But since I am not privy to the bankers’
decision making processes I couldn’t possibly comment.
Perhaps you should ask PriceWaterhouseCoopers, who seem
to know quite a bit about what goes on in certain banks’ corridors of
power...
The current situation
So the situation as it stands at the moment is that
fixed-term deposits (i.e., those which pay a pre-set interest rate
provided you leave the cash on deposit for a fixed period of, for example,
90 days), will continue to receive that rate until its current term
expires.
It would be wise at that juncture to check with your
local bank manager as to what rate will apply to renewing the term, since
policies seem to differ from one bank to another.
For readers’ information, the rates offered by
leading local banks for foreigners’ savings deposits are currently* as
follows:
Bank
|
90-day fixed
term
|
Passbook
|
Bank
of Ayudhya
Bangkok Bank
Krung Thai
Siam Commercial
Thai Farmers
Thai Military
|
1%
4.5%
2%
4.5%
1%
2%
|
1%
0.5%
1%
1%
0.75%
1%
|
However, since some bank managers seem to have a
certain amount of discretion over the implementation of their Head
Office’s policy, and if you are lucky enough to be on very good terms
with or deemed phuyai by your local bank manager, you may be afforded the
rare privilege of being granted the same interest rate on your deposits as
your Thai friends or employees.
The offshore option
Alternatively, it is worth noting that now that
interest rates even on fixed-term local deposits have dropped to less than
a third - or even a quarter in some cases - of what they were two years
ago, comparable or even higher interest rates now prevail on offshore
deposits of international currencies. And these rates are rising.
Thus if your capital was originally remitted into
Thailand from an overseas account, and you have or can obtain proof of
this from the local receiving bank, you may seek Central Bank of Thailand
permission to send that money out again if you so wish. (But as the
somewhat tiresome process to obtain CBT permission to remit more than
insignificant amounts of foreign exchange typically takes about 4-6 weeks,
and requires the co-operation of your local bank manager, it is worth
remembering the old motto that honey catches more flies than vinegar.)
It is perhaps also worth noting that the baht is
currently weakening against the dollar (and other major currencies),
having lost over 4.4% against the dollar in the three months up to 1st
September (so there goes your local interest for a year!)
It is, however, up about 3.75% on its international
value 12 months earlier (so this somewhat offsets the lowered interest
rates - and in fact is one of the published rationales used by the local
banking fraternity as justification for the introduction of two-tiered
interest rates, in order to prevent speculative arbitrage.)
These same worthies don’t seem to be shedding many
tears about the possible flight of your capital overseas, although you may
well have shed a tear or two upon discovering this latest instance of
two-tiered pricing.
Of course, if you do decide you want to move your
capital elsewhere, before applying for Central Bank permission to do so,
you need to have decided with which alternative institutions you will
place said deposit.
And that’s where your professional financial advisor
(if you have one) might be able to help you.
* As of 6th September
If you have any comments or queries on this article, or
about other topics concerning investment matters, write to Leslie Wright,
c/o Family Money, Pattaya Mail, or fax him directly on (038) 232522 or
e-mail him at [email protected].
Leslie Wright is Managing Director of Westminster Portfolio Services
(Thailand) Ltd., a firm of independent financial advisors providing advice
to expatriate residents of the Eastern Seaboard on personal financial
planning and international investments.
The Computer Doctor
by Richard Bunch
This week, it seems wise to remind readers of some of the
dangers that your PC is exposed to.
Firstly, viruses. The number of cases we have seen over
this past week is alarmingly high and the devastation caused quite horrific.
In the past viruses and Trojans have tended to cause either strange
behaviour or malfunctions, new strains, however, are proving more
destructive and are damaging hardware and necessitating replacement.
It really cannot be stressed enough the importance of
having a good anti-virus program installed and its virus database regularly
updated, at least once per month. If these programs detect virus activity
then it is important to select the appropriate action. Continue is
not an option, although several of my clients have done just this and are
now counting the cost. Managers within companies should ensure all staff who
have access to PC’s are aware of the action to take should a virus be
detected. It is good practice to prohibit staff from bringing disks, etc.,
from an outside source. Where this is not possible then it is a good idea to
set up a wash PC. This is a stand-alone PC that all disks and other
media are checked before being introduced to a network.
One of the latest viruses known to be out is known as
Thursday. It infects Word 97 documents and consists of a module called
ThisDocument. It infects Word’s normal.dot file which turns the Word 97
Macro Warning feature off. Prior to infecting a document, the virus will
look to see if it has already infected the document by checking for a
comment - thus.000 - if this comment is found the virus will not reinfect.
On the 13th of December when an infected document is
opened the virus will attempt to delete ALL files on drive C: (including
subdirectories).
This virus doesn’t use e-mail as its carrier but
appears to be spread within organisations. That said, it is possible to get
from one place to the next as an attachment in an email message.
Secondly, electrical storms can fry modems, the
electrical charge normally tracks down the telephone cable. It is prudent,
providing it is practicable for your circumstances, to remove the line cable
from the modem jack. This will prevent any damage. I also recommend the use
of external modems, this reduces the risk of internal damage which is more
prevalent with internal modems.
The third item to note is provision of a good quality
UPS. Personally, I recommend American Power (APC). These provide clean power
to the PC and peripheral devices connected to them. They also protect the
equipment from both over and undercurrent (brownouts). In addition, the
batteries within the UPS will provide some minutes of power to allow for a
structured closedown.
Send your questions or comments to the Pattaya Mail at 370/7-8 Pattaya
Second Road, Pattaya City, 20260 or Fax to 038 427 596 or E-mail to [email protected].
Successfully Yours: Paul
Dobbs
by Mirin MacCarthy
Paul Dobbs is a young man on the move. In fact he has been
moving every couple of months most of his working life!
Paul, “Dobbsy” to his mates, retains a strong north
east of England accent, having been born in Middlesbrough, the eldest of three
children. His father was an engineer in the Merchant Navy and may have sewn
the early seeds of wanderlust.
Paul left school at 16 years of age and took an
apprenticeship as a diesel fitter with the local fire brigade. After finishing
his 4 year time he was not really sure of his direction, but living in a
poverty stricken industrial town he said, “You do anything that’s
available.”
What became available was a job in the Egyptian desert as a
field mechanic. Ten days after leaving the fire brigade he found himself
standing on a sandy oil exploration site and the only white face around. “It
was a massive culture shock, I tell you.”
This type of position is a rigorous form of employment, but
as a reward there is a return plane trip and four weeks off, every three
months. In 1987 he listened to some friends and made Thailand his destination
for the four week layoff. This country was to have a great influence on him,
as was someone he met in Bangkok - a slimmer, trimmer Kim Fletcher!
Altogether Paul spent 6 years in Egypt and another 2 years
in Libya. During that time he rented an apartment in Bangkok as a
semi-permanent “home”. He also found that the ex-pat life had changed his
attitudes and indeed his life. “Suddenly you realise there’s a great big
world out there, full of a lot of very interesting people.” The cosmopolitan
lifestyle even prompting him to say, on reflection, “I’m really not a Brit
any more.” That aspect was one of the major turning points he can identify
in his life.
After the desert sand and now a senior field engineer he
transferred to North and South America. This took him Houston, Texas,
Louisiana and on to the jungles of the Argentine and Venezuela. His life in
the skies jet-plane trips continued, regularly returning to Thailand to enjoy
his four week furlough. However, he began to notice that the routine was
starting to tell on him. “You begin counting how many days you’ve got left
before you have to return to the job, and as soon as you get back you’re
counting off the days till you can get out again.”
But in 1996, the next major milestone in his life was
reached. This was surviving a helicopter crash in Venezuela. “We dropped
like a brick from 200 feet but we were saved by bouncing onto some mangrove
swamps. The tail rotor shattered, the main blades snapped off in the trees and
the skids just folded up into the sides of the helicopter. I cut my hand but I
just sat there and watched my right leg shaking uncontrollably!”
As he flew out from Caracas he realised he did not want to
fly any more. “I never had a fear of flying till then. I just wanted to go
to a place where I could settle down.” Since Thailand had been his second
home, it seemed natural to come over and look to settle here. In 1997 a job
opportunity presented with Siemens in Pattaya and he became resident on the
Eastern Seaboard, while still keeping his weekend apartment going in Bangkok.
This was more for his interest in soccer, where he played with the British
Club in Bangkok. The love of soccer has been life-long and he remains a
faithful supporter of his original home side, Middlesbrough FC.
He began to carve out his own niche in Bangkok with some
“hobby” exporting, but when one of his football playing mates offered him
a position with the firm Global Silverhawk, the world-wide domestic and
international moving company, he seized the opportunity with both hands. The
brief was to establish Global Silverhawk in Pattaya and the Eastern Seaboard
and that is taking up almost all of his current time and energies. Mind you,
Paul could still find the time to work and support the recent Fountain of Life
Charity drive, linking up again with an older and chubbier Kim Fletcher, now
resident in Delaney’s.
Paul’s five year goal is to position Global Silverhawk as the leader in
the community. “If I make something of this, I’ll never have to get in an
aeroplane again!” Paul Dobbs has become a man for moving, rather than moving
himself. I am sure we will see him around for some time.
Snap Shots: Startling
Contrasts
by Harry Flashman
It is patently obvious that photography is a visual medium.
However, one way to really sock it to ‘em is to emphasize your images by way
of contrasts. Opposite ends of the scale make ideal subjects for wall art or
even photo competitions, so this week Harry Flashman is going to give you some
contrasting thoughts that can be turned into some great shots.
The first way to contrast a subject photographically is to
take the same shot at contrasting times. The simple one is sunrise and sunset.
Take Pattaya Bay or even the Big Buddha, for example. Shots of these subjects at
those times are totally different because the light comes from opposite
directions as well as being “cold” blue light in the mornings and “warm”
golden light at sunset. Now there are a couple of tricks here that you have to
watch. The first is that you must take the shots from exactly the same position,
even if you have to camp there all day! The second factor is to make sure that
the on-camera flash is turned off, or you will overcome the subtle colour
differences in the sunlight. If you have a tripod, you can even go for a time
exposure after the sun goes down and you will get another contrasting image.
Another contrast is to use the weather to give you a
different look to the same subject. Even a street scene with pedestrians taken
in daylight and then again with umbrellas in the rain. Once more, it is just to
record the same subject in another way. So next time it is teeming with rain go
outside with your camera and get something pleasing and recreate it in the dry.
What we are doing here is to exercise our minds (yours and
mine) to come forth with some opposites - then work out how to present these on
film. You see, so many times a good photograph is “made” rather than just
happening. The photographer builds up the concept and then works out the way of
showing it.
So let’s take some - there is young and old that springs
immediately to mind. A shot of a very old person with a young child is always an
attention grabber. Now, how many times have you seen big advertising companies
use just that shot? Lots!
What about old and new? The range here is as big as your
imagination. A shiny new car parked beside a wrecked one, a new beach umbrella
beside a tattered old one, a photograph of a haphazard pile of old worn out
tyres beside another of shiny new ones. Or even a box Brownie and a new Nikon.
There’s even more - hot and cold, rough and smooth, light
and heavy - there is really no end to what you can portray when you start
thinking about it.
But it doesn’t end there either. Think about the different
ways you can do things. From digging a trench with an old shovel, to watching a
huge mechanical ditch digger at work. How about a sundial with a watch hooked on
it? A light bulb and a candle, a horse and buggy and a new Mercedes. Again, just
let your imagination run riot and go from there.
Now presentation of contrasting images is important too. This is where you
should finally select the best two shots and get enlargements done. 10 inches by
8 inches is a good size and then get them mounted side by side using a double
matte. With the cost of framing being so cheap in Thailand it is very easy to
produce great wall art. All that is needed are your images and some original
imagination. Make it happen for you this weekend.
Modern Medicine: Burning
Up!
by Dr Iain Corness
“I’m burning up with a fever!” I’m sure
you’ve heard that a few times. People put their hand on their forehead
and announce this very important symptom. Unfortunately, did you know that
you cannot work out your own temperature by the old hand on forehead
routine? If your body temperature is X degrees then so is your hand, your
forehead and all of you. Put a 39 degree hand on a 39 degree forehead and
it all seems the same.
Certainly you can put your 37 degree hand on someone
else’s 39 degree anatomy and tell that their temperature is up, but even
that’s a hit and miss effort. There is a better way. One of the most
important little diagnostic tools in your home medical kit should be a
thermometer. Mind you, even doctors need reminding about this too, from
time to time.
So why is your body temperature so important? Well, I
suppose it is a quick indicator as to whether you are alive or dead, but,
jokes aside, temperature measurements can tell a lot about how you feel
and whether you have some disease process going on.
Take this scenario for example. You’ve had a heavy
night out with the boys, you’ve been sitting in smoky bars, you’ve
been smoking too much and this morning your throat is sore and you have a
headache. Is this a hangover? It very well may be, but if your temperature
is up, as well as your headache and sore throat, then you most likely have
also picked up a bug.
In our household, which had the usual number of
children who would spend much creative time working out how to avoid
school, the “I don’t feel well enough to go today, Mummy” could soon
be verified or otherwise with the thermometer. Those children with normal
range temperatures were soon dispatched to the House of Correction, as one
child described it!
The actual thermometer itself comes in many forms.
There is the old mercury bulb type that you have to “shake down”
before use, recently supplanted by the red alcohol variety. There are also
temperature sensitive “patches” that you can put on babies foreheads.
Personally I have a whiz-bang electronic one that you stick in an ear and
it gives you a reading in one second - great when dealing with fractious,
sick children.
Probably the only other factor you need to know is the
“range” of temperatures and here is a very simple one. Less than 37
degrees - normal. 37-38 degrees is a very mild elevation - give
paracetamol and observe. 38-40 degrees is a significant rise, look for the
reason and if not immediately evident it may warrant a trip to the doctor.
More than 40 degrees - definitely make an appointment to be seen.
So check your medicine chest today - do you have a thermometer? If not,
get one. It is well worth it.
Dear
Hillary,
I apologize for my unprofessional English. Is it
possible that letters from Germany are not arriving at the receiver or
right target? I met a nice Thai girl on my last holiday and the friendship
between us deepens. I write in the meantime several letters to my
girlfriend and she write me back. And we have no problems until now. The
last letter I wrote in August but received no answer. Inside the letter I
put 800 baht and some pictures. I called to my girl at the bar but she
said there is no letter coming from me. What will I do? Your newspaper is
my only help for my heartbreak situation. I talk with other people who
stay in Thailand before and they tell me that some girls are simply lying.
But I am really desperate and I only want to know what is true or not,
because I love her very much. Have maybe somebody of the post staff stolen
the letter or anybody else? So I want to know your meaning about this
sadden situation. I thank you and I look forward to an answer from you.
Postal Pete
Dear Pete,
Don’t worry about your English as your emotions came
through very plainly (and painfully too). Unfortunately, I have heard from
many people that letters containing money go missing. The answer is to
disguise the fact that there may be money in the letter by putting it
inside a card or a small magazine. That way when the letter is held up to
a bright light you cannot see the money inside. Perhaps it might also be
better to save your money so that you can get over here more often. I
don’t think your girlfriend is lying.
Dear Hillary,
Having been separated legally from my previous wife, I
came over here 9 months ago. I have fallen in love here and my girlfriend
is expecting a baby in January. I want to stay here and make a fresh
start. I retain an income from outside Thailand. I only stay on a three
month visa which I renew in Penang. Do you see this as a problem?
I want to buy land here in the deep south in my
lady’s home village. Do I need government permission to build our house?
Can I legally own this land and house? Obviously we love each other and
the baby is due soon, so regardless of all the horror stories I’ve heard
I intend to buy and stay here. Can you offer advice on the visa and
questions of ownership. I’m certain your reply will not only help me but
numerous other foreigners who receive conflicting advice from different
legal agents we visit. Some tell me I can own 41%, some say the lady owns
100%. One told me the Crown will always retain ownership. I just want to
know because obviously this will reflect in the amount I will invest in
the actual building.
Father To Be
Dear Father To Be,
Well, aren’t you a clever boy then! Congratulations
on the impending fatherhood. Just remember that children last 20 years and
never say, “Thank you”. Hillary has warned you! To your questions.
Your visa is no problem, other than the fact you have to spend a day in
Penang every three months. Combine it with a shopping trip for nappies.
Housing is more vexed. Regarding building permission, then that is a local
matter in whichever district you settle in. You cannot legally have a
house and land registered in your own name, but you can form a company
that can hold the ownership. However, you can legally own a condominium
wholly in your own name. Why don’t you protect your interest by looking
condo-wise, especially in the first couple of years?
Dear Hillary,
I want to join a woman’s group here in Pattaya. I am
a bored ex-pat wife and am European multi-lingual, so language spoken is
not really a problem. What I am looking for is a group of women who are
not “bitchy”. My husband’s contract is for three years and I do not
wish to get involved in small town politics. Relocation is enough of an
upset, without making enemies by being involved with the “wrong”
people. What ones are you in? Please advise.
Antoinette
Dear Antoinette,
Like all things in life, it’s horses for courses. Women’s groups,
like all clubs and societies, have good and bad members. Some are angled
towards special interests like yoga or sewing, others towards charity
work. Hillary only belongs to the Secret Society of Advisors for the Lost
and Lonely so I cannot give you first hand advice on which to join. Look
in the Pattaya Mail each week and you will get contact numbers for clubs
and associations. Try before you buy is my motto. Remember that there are
also mixed groups that might suit you as well. Good luck!
GRAPEVINE
Jaws strikes
again
Following a vicious shark attack in the
South China Sea, a public relations expert has given the definitive
version of events. Frenchman Claude Arouet was seriously injured in
the leg during the shallow water attack, but the official report says
there is no cause for alarm or for tourists to boycott the area. “It
was not, in fact, a shark attack but a shark accident. More than
likely, the creature ran into Mr Arouet’s leg and the limb became
caught in its mouth.”
A bathroom too far
Two South African investors are spitting
rolls of feathers after being refused a license to open a theme
restaurant. They had planned to carry an entire bathroom theme into
the interior design. Toilet bowls alternated with tables in the main
dining area, and a toilet seat appeared as a logo on all the menus.
The restaurant was closed before the hungry hordes had a chance to
descend when inspectors found there were no actual working restrooms
on the premises.
Haute cuisine
Au Bon Coin international restaurant has
moved from Second Road to a quite delightful setting in Soi 5 where a
Korean restaurant used to be. There is ample and spacious seating,
even at busy weekends, and the gardens outside are a charming aid to
digestion. Parking on or near the premises is not a problem. The beef
fillet with mushroom sauce is particularly recommended. The glorious
desserts are not for weight watchers and the generous portions will
satisfy even the sweetest tooth.
Residence permits
The immigration bureau welcomes applications
from farangs wanting one year or permanent residency. You must have 3
million or 10 million baht in Thailand in cash or investments
according to which one you apply for. As usual the devil is in the
detail. If you are showing cash in a bank, it must be a government and
not a private bank. Also, you must have moved the cash to Thailand
within the last year or so. Investments in Thai companies, say to buy
a house or start a business, can’t count as they will not be in your
personal name. Condos are OK. You must report to the authorities every
six months to prove the assets are still in Thailand. Residency is
mainly used by farangs who want to live in Thailand but are too young
for a retirement visa or don’t have a work permit. |
International
news
A pioneering study from a Norwegian
university has found out that old people move their legs with greater
speed when they are in a hurry... Interesting revelations from Taiwan
where the Food Institute has concluded why most people eat lunch.
Apparently, they tuck in as they do because they eat three meals a day
and lunch just happens to be one of those meals... Meanwhile, an
earth-shattering research paper by Dr Norbert Schultzer has concluded
that the main reason people are reluctant to visit their doctor is
because they aren’t ill.
Legal eagle
Reader HY asks why farangs are commonly
deported after being convicted of an offence, even if a minor one.
Royal Thai law states that any conviction can automatically lead to
cancellation of the visa. This penalty is not normally used for small
traffic offences such as speeding or parking in error. However, any
crime resulting in a court appearance will be a very different matter,
as your local neighborhood lawyer will be delighted to explain to you.
For a small fee of course.
Sky’s the limit
The world’s favorite airline has decided
not to proceed against a stewardess who lost a bet about whether the
Bangkok bound plane would land on time. She paid for her unsuccessful
wager by having to strip down to her underwear and safety corset.
Passengers applauded her unusual betting spirit, but airline bosses
were not amused. However, they relented in good humor and eventually
announced, “We are taking our hats off to her, but nothing else.”
Electronic transfers
No further news about the proposal to tax at
source all foreign cash transferred from overseas to personal bank
accounts in Thailand. Given that most farangs are now receiving 1% or
less per year on their accounts, minus withholding tax, there hardly
seems any point. The only way for farangs to gain the edge at present
is to transfer money when the baht is weak. And it has been
vacillating quite a lot in the last couple of months.
Timetable rules
A farang trying to unravel the cosmic
mysteries of the Bangkok to Chonburi orange crushes has been informed
why he always seems to miss the bus. Complaining that he has been
unsuccessful of late in flagging down the speeding six wheelers in
Naklua village, he was told that buses can’t always stop or they
would be late arriving at their destination. |
Dining Out: Big Boy - a
Big Surprise
by Miss Terry Diner
Those of you who have been brave enough to drive through
“the diggings” on Beach Road close to Walking Street, will have noticed the
new Big Boy Restaurant and Bakery almost opposite the South Pattaya Pier.
This new eatery opened six weeks ago and the Dining Out team
felt that it was time to check it out. Living as we do in a land of
“knock-off” items, our initial perception was that Big Boy was probably yet
another of the plethora of “fast food” places, all resembling Mickey D’s
in some way. Readers from Stateside, or those who may have seen the movie
“Austin Powers”, would have known otherwise, but since neither in the team
fits the above, forgive our mistake.
As managing partner John Rothstein pointed out, Big Boy
restaurants are now in their 63rd year and are in fact a chain of American
Diners. “This is home-style, fresh to order, not pre-cooked fast food,” he
said. In addition, John assured us that all food is fresh from the markets and
not re-constituted.
The d้cor is pure 60’s diner - red, chrome and neon
with the absolutely mandatory large juke box in pride of place in the outside
section. The menu is also large and colourful and starts with appetizers and
sides. These include onion rings (45 baht) and chicken breast tenders (B 79).
Soups and salads are next including a Caesar and chicken breast salads at B 89.
The next section is the beverages and includes coffee and
tea, juices, soft drinks, beer (including Singha Gold, thank you), wine by the
glass or bottle and malted milks. From there it is into the burgers and
sandwiches generally around B 100-150 and then into the Home Cookin’ with
steak, pork and ham items, and finishing with a page for breakfasts with
waffles, omelettes and all the usuals. There is also a small additional Thai
menu with some standard local items at around B 55-70.
Having now been appraised of the scope and style of Big Boy
it was into the food. It was decided that we should try a variety to give us a
reasonable idea of their cuisine. With the highly experienced general manager,
K. Prasoot hovering in attendance, we were brought a Big Boy Double Decker
burger, the World Series Bacon and Cheeseburger, some onion rings and a pork
chop. With “real” milkshakes available I also revisited my childhood
ordering a chocolate shake in the traditional metal container.
The Big Boy double decker was a great burger that tasted of
real beef and the accompanying fries nicely cooked. The bacon and cheese was
also a good example of this style of burger, but it was the pork chop that
caught my imagination (and taste buds). The large chop was accompanied by some
beautiful green peas and fresh mashed potatoes and a very tasty gravy. How
difficult it is to get good green peas here! If the team had not been so full by
then I would have backed up for more peas!
After the milkshake I opted for a Singha Gold and sat back to ponder on this
new food outlet in Pattaya. It certainly was not of the “push ‘em through”
fast food style, but is a good family restaurant. The Dining Out team feels that
Big Boy will shortly have a very strong following with the ex-pat families, and
the extra Thai menu will satisfy the needs of many mixed couples. A welcome
addition to the Beach Road restaurants.
Animal Crackers: Thai
Ridgebacks
by Mirin MacCarthy
The Thai Ridgeback dog is quite an enigma. One of the
three main ridgebacked dogs in the world (the others are the Rhodesian
Ridgeback and the Phu Quoc dog from Vietnam), many people believe that the
Thai dog was the original one.
Indigenous to eastern Thailand, the Thai Ridgeback dog
(Mah Thai Lung Ahn) is one of the oldest breeds of dog in the world. A 350
year old book has a clear illustration of the dog and 3000 years old cave
drawings have also been found which include the Thai Ridgeback Dog in
scenes depicting the daily life of that time.
Thai
Ridgeback
Historical ties between Thailand and Vietnam would
appear to show the origins of the Vietnamese Ridgeback and it is presumed
that a Thai Ridgeback was taken to Africa and the Rhodesian variety stems
from there.
It is a medium sized dog with short hair forming a
ridge along the back. The ridge is formed by the hair growing in the
opposite direction to the rest of the coat. The unique coat is short and
dense but very soft and ranges from black, red (ranging from deep mahogany
to light chestnut), blue (silver), and fawn.
They are very loyal and affectionate to their owners,
frequently using their paws like hands to solicit attention. They are also
very protective and are generally suspicious of strangers. They are
usually gentle with their families and with people their families
introduce them to, but are excellent watch dogs if people they do not know
appear or sounds they don’t understand occur around the house.
In the past Thai village life the Ridgebacks were used
to hunt deer, small game and birds in the dense jungle. They would
accompany their owner on their hunting trips in packs of 5 or so dogs. If
a wild boar was encountered the owner would face the boar head on - the
natural instinct of the dogs to protect their masters would be set off and
the Thai Ridgeback would move in for the kill.
The area of Thailand where the Thai Ridgeback dog
originated was so remote that few people travelled there, so consequently
there were no other breeds of dog to “dilute” its true nature.
These days there are over 50,000 Thai Ridgebacks
registered with the Dog Association of Thailand, but many more live
throughout Thailand as pets and watchdogs. Thai farmers still value them
as guard dogs. This very protective dog was known simply as “the
cart-following dog.”
The Thai Ridgebacks are certainly one of the more striking breeds of
dog in the world - and it came from here!
Auto Mania:
Traffic Rules
by Dr. Iain Corness
There have been lots of crazy Traffic Rules dreamed up
to plague the ordinary motorist, but Kim Fletcher of Delaney’s came up
with this absolute ripper which he claims is true. Kim was in Nigeria and
after the country became independent the new powers that be decided that
it was really time for the ‘new order’. Since under British
colonisation they drove on the left it was decided that in the future,
this newly liberated country would drive on the right hand side instead.
To phase this in smoothly, the rule was proclaimed that as from the next
Wednesday all commercial vehicles would change over to drive on the right.
This was to be followed by private vehicles changing over on the following
Thursday! As I said, Kim swears this is true.
Apparently it took them much more time to change the
road signs and traffic lights too. So for years, the signs were all on the
wrong side of the road. So much for emerging nations, though in
Nigeria’s case that should probably be ‘submerging’ nations!
The Brits didn’t do too badly themselves either with
the “Red Flag Act” of 1865. This particular piece of legislation
required that every road locomotive had to have three people in attendance
- one to stoke, one to steer and the third to walk ahead with a red flag
to warn oncoming traffic and help control restive horses. Speed limits
were set as 2 MPH in the cities and a blistering 4 MPH on the open road.
The Red Flag Act was followed by the Emancipation Act
of 1896 which allowed vehicles under 3 tons to dispense with the flag
waver and travel up to a mind boggling 12 MPH.
The Motor Car Act of 1903 raised the speed limit to 20
MPH and that stayed in vogue till 1930.
In Australia in the 50’s and 60’s the law required
all drivers to give “Hand” signals. Consequently, many trucks were
fitted with a large painted mechanical indicator in the shape of a
“hand” that was operated from within the cab. The Oz lot also insisted
that tail lights had to be turned on from an external switch at the rear
of the car. The idea here was that you had to get out and turn it on, so
you would see if it wasn’t working!
The best proposal for a traffic rule was probably right
here in Bangkok where a political aspirant suggested that the way to fix
the traffic jams in the capital was to make the traffic lights in all
directions stay on green so the traffic would flow more easily!
Autotrivia Quiz
Peter Cabrey, AKA Hawaii Pete, wants questions on
American iron, so for you of the American persuasion try this on for size.
Sears Roebuck, that great institution in the States, used to sell cars by
Mail Order. The first time was in 1908 through to 1912, but they had
another go in 1952. What was the car they sold through the mail? I want
the brand name they were sold as and who actually built the cars. The
first correct answer wins the free beer. Fax 427 596 or email [email protected].
Come to think of it, it was a brave move. Can you imagine the postman
coming grunting up your driveway, lugging a car in a registered package?
Or did they send it C.O.D.? And what about sending it in for its 1000 mile
free service! The mind boggles.
Now I also fully realise the American brigade were all
hoping for some nice easy, “how many cylinders in a Ford V8” sort of
questions, but that’s not the concept behind Autotrivia. It’s supposed
to make you think about our hobby, passion or profession, this motor car
thing.
Hawaii Pete also enquired as to how many readers would
actually know the answer as opposed to how many research it out of the
‘net or whatever. Honestly Pete, I don’t think it matters, it’s just
a fun thing scratching around looking, whether that be in your mind, or in
a book, or on the ‘net. As for myself, the concept of the question comes
out of my head, but I will confirm my answer by references before I dare
put myself up against the likes of Philip MacDonald, Hawaii Pete, Del
Schloemer, Bruno Buergi and the many other winners of the Autotrivia Quiz
from around the world.
Last week I asked about Eddie Jordan advertising cars
in the Vanity Fair magazine, and I did warn you it wasn’t easy. This was
not the Irish Eddie with the F1 race cars, this was Eddie S. Jordan who
advertised his “Playboy” speedsters in the magazine in 1919. Sorry
chaps! (But it was an American question!)
Baht Bus Blues
Baht Bus Bashing has been reaching new heights
recently, looking at the Pattaya Mail’s Post Bag, but I must say that I
have not had too many bad experiences with our local taxis.
When you think about it, we probably have the best
public transport system in the world. There’s certainly no waiting half
an hour for the next bus as you would have to in Manchester, Melbourne or
Montreal. And they are cheap. I know there’s all sorts of arguments
about paying 5 Baht or 10 Baht, etc., but when I come from lower Jomtien
to Royal Garden Plaza I must admit I pay 20 Baht quite happily without
being asked, because I think it’s worth it. I generally sit in the cab
too and use his air-con!
One area the city fathers (and mothers) should consider is the paint
scheme. Pattaya is a holiday resort, bright, happy and fun city in the
sun, yet we have the drabbest, dullest Baht Bus colour scheme. The private
Baht bus belonging to the Top Class Entertainment group in Soi Pattayaland
2 is the way we should present our public transport in my opinion. Bright
colours, flowers, psychedelic designs or whatever, just make them
brighter. Might brighten up the disposition of some of the problem drivers
too, as a bit of a spin-off.
Copyright 1998 Pattaya Mail Publishing Co.Ltd.
370/7-8 Pattaya Second Road, Pattaya City, Chonburi 20260, Thailand
Tel.66-38 411 240-1, 413 240-1, Fax:66-38 427 596; e-mail: [email protected]
Updated by Chinnaporn Sangwanlek. |
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