Family Money: The case for offshore funds

By Leslie Wright

As the world becomes increasingly one international marketplace, the artificial barriers which we have traditionally called nations are being broken down.

More and more people no longer consider themselves to be attached to any particular country. Indeed, it is not uncommon now for someone to be born in one country, educated in another, work in a third, have business dealings mainly in a fourth, suppliers mainly from a fifth, live part-time in a sixth, plan to retire in a seventh and - significantly - keep their money in an eighth. The revenue-seeking governments of most nation states have not (yet) caught up with this increasingly international world of individuals.

Social and demographic changes have led to upward pressure on government expenditure, while at the same time the need for governments in democratic countries to be re-elected has put downward pressure on taxation. This squeeze has led many governments to give up on providing adequate retirement pensions and encourage their citizens to provide for themselves.

Faced with the prospect of having to finance their own retirement, many people - especially those now under the age of 45 - are grasping the nettle. Those with an international outlook are wondering why they should be limited by a particular government’s controls on how and where they may save and invest - and be taxed heavily for this dubious privilege. Indeed, internationally minded individuals are questioning why a particular nation state should be able to demand an interest in how they organise their personal financial security when the very same government admits that it will be able to do little to support them in the future.

Such increasing internationalisation of outlook is being spurred on by the exponential growth in world communications - in particular, the Internet. With no real national barriers to overcome, many people are looking for global investment opportunities that do not tie them to one country’s investment regime.

It is for this reason that many investors have turned to offshore funds, which provide freedom and control for individuals to plan for their financial security without being regulated by tax-hungry governments.

What is “offshore”?

The term “offshore fund” is a rather loose one. Offshore funds come in many shapes and sizes and are structured to do many different things.

Basically, an offshore fund is a common fund managed by a professional investment manager on behalf of many investors, and is based in one of the world’s so-called “tax havens” or low-tax areas.

Most offshore funds have much in common with the mutual funds familiar to Americans and Canadians and the unit trusts of the UK.

When the world was a less sophisticated place and instant global communications still a dream for the future, investment funds were used by a few knowledgeable people for rounding off a portfolio, which typically would have comprised a few blue-chip stocks in their ‘home market’ and perhaps some government bonds. To obtain a little exposure to foreign markets, an individual might buy a few units in, say, a Japanese equity fund.

Today investors use investment funds far more readily, and many use them as their primary way of investing. In the USA, for example, figures published recently by the Investment Company Institute of Washington D.C. showed 44.4 million US households or 77.3 million individual investors owned mutual funds in 1998, compared to 23.4 million households in 1990. US mutual funds were worth $5.622 trillion in February 1999, up from $4.579 trillion the previous year.

Historically, the offshore industry began to grow during the 1970s when UK fund management companies set up non-domestic fund management subsidiaries, primarily in the old UK “scheduled territories” of Guernsey, Jersey, the Isle of Man, Hong Kong and Bermuda. These offshore funds were designed initially for expatriate non-tax paying investors and foreign subsidiaries of UK firms.

In the late 70s and early 80s, these offshore centres became a refuge for individuals and corporations with assets in the Middle East and Latin America who were primarily concerned with safeguarding their assets due to political events and/or their lack of faith in their home currency.

In the 1980s Luxembourg began to develop its low-tax status from within the European Union. With the introduction of the UCITS (Undertaking for Collective Investment in Transferable Securities) legislation in 1989, intended to create common basic rules for collective investment schemes in the European Union, this tax-efficient money management trend gathered momentum.

UCITS domiciled in low-tax areas such as Luxembourg and Dublin are usually sold across one border to the promoter’s home state. Luxembourg has developed more along the tax efficient lines for money market and fixed income funds, whereas Dublin has developed as a base for equity funds, due to its having more withholding tax treaties with other countries.

Why go offshore?

People invest in collective investment funds because they are a useful alternative to direct investment in stocks or bonds, or commodities, or currencies, or even real-estate property.

Firstly, collective investment is a more cost-effective way of building up a diversified investment portfolio than buying comparatively small holdings of direct investments. Most individual investors don’t have the capital resources required to build a truly diversified global portfolio. And diversification is a key element in spreading risk.

Secondly, skilled financial professionals do the investment research and make the day-to-day investment decisions; few individuals have access to the wealth of detailed information required nor the time to manage a complex portfolio.

Thirdly, collective investment funds are in many ways more flexible than direct investments, so a portfolio of funds can usually be rearranged quickly and easily, allowing investors to take advantage of changing market conditions. This can be done either actively by selecting your own choice of funds, or passively by allowing a portfolio manager to do it for you. Or for real ‘couch investors’, even letting the fund manager do so, by using appropriate Managed* funds.

(*All funds are managed; a Managed Fund is simply a class of fund which invests across a wide spectrum of assets - cash, currencies, bonds, equities, and perhaps even options and futures - the relevant proportions of which will be adjusted by the managers to a more defensive or more aggressive stance as market conditions change.)

The tax advantage

The fifth, and for most expatriate investors the most obvious advantage of offshore funds, is the tax benefit.

An expatriate may be exempt from tax in his home country, or even his chosen country of residence; but many onshore funds are taxed at source, which he would be unable to reclaim.

Offshore funds typically are not taxed at source, and thus grow faster than the equivalent onshore funds which are. In some regimes (Thailand, for instance) an expatriate may even be able to draw down an income from offshore investments which itself is not subject to local taxation.

As well as protection against punitive taxes, offshore investors gain the freedom to invest in pretty well whatever they want.

Offshore collective investment funds tend to have greater freedoms than onshore funds, which often have government-designed restrictions, mostly in the name of consumer protection.

Consequently, there are numerous weird and wonderful investment funds available offshore which are not approved by, for instance, the Securities Exchange Commission (SEC) in the US or the Financial Services Authority (FSA) in the UK.

This is not to say there is no consumer protection with offshore funds. Indeed, most offshore financial centres are very keen to uphold a good reputation and therefore only allow in reputable investment managers and keep a close eye on their activities.

Where are they?

Offshore funds are based all over the world, but where they are located can be puzzling.

Based primarily in 10 key offshore jurisdictions, the term “offshore” can be misleading, as some offshore centres are not islands. Indeed, the offshore centre with the most funds - Luxembourg - does not even have a coastline. Very often the investment management, the administration, and the location where the fund is registered are in different places. However, a fund’s home, or domicile, is usually considered to be where it is registered.

The ‘premier’ offshore financial centres have developed because they are politically stable, have a high degree of investor protection legislation in place, have developed an efficient communications infrastructure, and are able to tap into a wide pool of expertise to manage funds for overseas investors - plus of course tax for non-residents is either low or non-existent.

(to be continued next week)

If you have any comments or queries on this article, or about other topics concerning investment matters, contact Leslie Wright directly by fax on (038) 232522 or e-mail [email protected], or write to him c/o Family Money, Pattaya Mail. Further details and back articles can be accessed on his firm’s website on www.westminsterthailand.com.

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

From Sandra, Na Jomtien

I know you have been asked this question before but I am now seriously looking to purchase a Web camera and would any advice you can give me as I know there have been many advances in this area.

Computer Doctor Replies

If your computer has a USB port and if it has been purchased in the last couple of years the likelihood it will have then this is the preferred port for connection, other choices require the installation of a capture card. Setting up a USB WebCam is simplicity itself, you just plug them in, find the driver on the CD and that’s it! With the capture card variety, you have to open the ‘box’, install the card, load the drivers for the card and then the software. The WebCam range from Creative is an ideal solution. It’s inexpensive and excellent quality, particularly in the hardware department, the software is not the greatest, but there are many free solutions around so that shouldn’t put you off.

Included with the software bundle is WebCam Monitor, this is a timed or motion-detecting application that can store pictures or clips and even send them on to you as e-mail or update a Web page. Great for seeing what the kids get up to when you’re out!

From Simon Stokes, Bangkok

I have been used to using MP3 music from CD’s on my computer and find this both useful and surprisingly good quality. I am now thinking about purchasing a portable player but really do not know which to buy, what would you recommend given that my budget is under 5,000 Baht?

Computer Doctor Replies

Firstly for the uninitiated, MP3 is the digital audio format that has really taken off, particularly on the Internet. It allows you to compress CD-quality audio down to around a tenth of it’s original the size, without any discernible loss in quality. This means that a standard CD will hold anything up to 200 tracks.

This is where the Internet comes in. Being a compact and economical format, it’s the perfect medium for sharing and distributing all manner of musical delights. And this is where all the hue and cry is centred.

Sony Electronics for one has just launched a digital version of its Walkman that will be capable of playing music distributed in the MP3 file format, unfortunately it is only available in Japan at present but no doubt the rest of the world will soon see this on the shelves.

Currently few companies produce portable MP3 players. The market leader is Rio from Diamond Multimedia. Diamond has just announced the Rio 500 which is both PC and Mac compatible. It features 64Mbytes of memory expandable to 96Mbytes, allowing for two hours of continuous digital music playing. The Rio range starts at around 3,000 Baht and represents excellent value for money and would be my recommendation.

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]

Richard Bunch is Managing Director of Action Computer Technologies.

Successfully Yours: Jose Cohen

by Mirin MacCarthy

Jose Cohen is the definition of Bon Vivant, a happy and expansive Frenchman and owner of the restaurant, “Au Bon Coin.” What is a French restaurateur doing with a Spanish/Jewish name you ask? “Ah” laughs Jose, “The name was a mistake. I was born in Chamalieres in Provence, my mother was French, my Father was Polish. It was at the end of the war, and I was brought up as a Catholic. My Father had a contract to work in Mexico so they called me Jose, then we never did go to Mexico!”

As a child his parents ran hotels, and possibly because he was left alone much of the time, he never wanted to go into the industry himself. Though after school in Montlugon he spent several years travelling and working in Spain in a restaurant/night club.

“About thirty years ago I followed a girl to Sweden. I stayed three years, but everybody was cold, a little bit sad. There were too much taxes, Doctors would only work nine months because they would lose too much money! I went back to France but after a while it became the same. I rang her up fifteen years ago and said, ‘Guess what, France is just the same now, nobody smiling, too much taxes.’”

Back in France he opened his own restaurant in the French Alps in a place that sounds like ‘Sportswinter’ and he stayed for ten years. There he worked for six months and took two months off. “It was ideal. Time to enjoy, play, and see things clearly.” In between restaurants Jose would go back to help his father with his hotel.

After the Alps it was back to the oldest house in Paris of Nicolas Flamel, the famous alchemist. Jose stayed three years. “You know Flamel was renowned for turning iron into gold. Me? I take gold and make iron! You can’t always be successful!” He laughs.

He took a break for six years to work in the fashion industry. I created my own label called Paradox. It was a line of sportswear for ladies and children. It was a good thing, it was nice because it was the time when sportswear was becoming very popular in France. Before that we were very formal.”

Six years was enough though, and Jose returned to being Maitre d’. “In a restaurant you can drink the wine and eat the foie gras, but trousers - they hang in the shop forever.”

When not being mein host in his own restaurants, Jose became consultant to other would be restaurateurs. “I helped with new concepts. Just before I came over here I helped start an American restaurant. American food is popular in France now.”

He has been in Pattaya for five years now and came at the invitation of a friend to help in his restaurant for two months. He stayed five months then moved on to the Brazero for a year, and then opened his own restaurant, Au Bon Coin in ’96.

“I appreciate life more here. I suppose it must be the wisdom of getting older. I think everybody must be the same. Here everyone is so happy, it is a good atmosphere, better than Europe where everyone is a little bit sad. Even in France we look like that too.”

So what does having his own restaurant mean to Jose? “I used to say it is a little bit like the theatre. You get ready, you buy the good produce, it is important to have good props for the theatre, then you prepare for the people and use the props to change the story. Then the presentation, it is important to make it right. The atmosphere is important and it is something like the theatre too. Change every day and everybody is happy. If you have a bad script then you can not make a good play.” Quite a philosopher is our Jose.

His personal values are simple. “To enjoy life as much as I can. If I shouldn’t be happy then something is wrong. It is nice when people come here, have a nice time and spend a couple of hours enjoying. That makes me happy too.”

Success to Jose revolves around his restaurant and being the Bon Vivant still. “If you can make people happy, something like a room full of diners where everyone is happy. That is success.”

Jose’s future plans revolve around Pattaya and his newly relocated restaurant on Soi 5, even though he still takes every day one at a time. “My new place, I ‘ave to make it better. After I finish, then I’ll see what happens!”

Jose smiled at that and we toasted each other with a glass of wine. Jose impresses me as someone who really has got it all worked out. Congratulations, Jose!

Snap Shots: Fido photos!

by Harry Flashman

There is an old saying in vaudeville “Never get on the stage with kids or animals”. For Harry Flashman, you could almost say the same, but make that photographing kids or animals.

The techniques required are almost the same, everyone has high expectations for the results, and the final photograph has probably got less than 40% chance of being to the satisfaction of the mother/owner! Make no mistake about it, photographing animals is not easy.

To begin with, let us state that the animals to be captured on film are merely domesticated pets. Photographing man-eating tigers in their natural habitat is even more difficult. And dangerous!

Now, like photographing anything, the most important factor is the lighting. If you photograph Fido in a dark corner of the room, you will get a gloomy picture of man’s best friend. For your pet to look good, you need good lighting. Harry suggests that the best places are either outside in the garden, or on a window ledge. With both of these, you are using the lighting supplied by the great lighting technician in the sky, and he is hard to beat.

The other important factor is to turn off your flash. Using flash will only startle your pet and after all your labours you will get only one shot - the first one. The pesky animal will have bolted after the first flashburst!

The next item to be looked at is the background. Remember that the “hero” has to be Fido, so you do not want the background to intrude. And it is not like photographing a person, you cannot say, “Move half a metre to the left.”

This is one of the real secrets of photographing animals - you have to set everything up beforehand. You cannot do it once the star has been brought out into centre stage. You have to look through the viewfinder and imagine what Fido would look like in front of that bush, tree, flowerbed or whatever. It is probably best to try and shoot the critter against a fairly bland background and a nice grassy piece of lawn is one of the best. This is particularly so with dogs, as you can shoot down towards the animal and have nothing but green in the background.

It is often handy to have a stuffed toy along with you. Putting the toy in position means you can pre-set the focus, check the exposure details and background before bringing Fido out to do his thing. Harry here had the world’s most photographed stuffed tiger as his animal photography assistant.

The next part is the hardest. To make this animal portrait appealing, Fido has to appear bright and alert. Since Fido generally spends 95% of his time looking dozy you have already got in behind the 8 ball before you pop the shutter. The owner will want the alert dog picture and you will have to give it to him.

The trick here is a box of matches. Just before you take the shot, rattle the match box in your hand. Fido will look up, ears will be erect and get that shot!

With cats it is even more difficult. The classic shot is cat licking lips. This can be engineered, by wiping a little bacon fat on the cat’s mouth and moving quickly. You have around three seconds to get the photograph before the cat wanders off and does its independent cat thing.

Probably the easiest to photograph are pet frogs, but even these look better if you sprinkle some water on them first. Birds? Hit and miss, just use plenty of film.

Modern Medicine: Break Bone Fever

by Dr Iain Corness

The old name for Dengue was just that, Break Bone Fever. This is a nasty viral condition that has been coming round in epidemic waves for many years. It is also a fairly wide spread virus with 2.5 billion people living in Dengue endemic areas. We, in Thailand, belong to that group.

Whilst Dengue is a debilitating, painful condition there is another much more serious variant called Dengue Haemorrhagic Fever which is potentially fatal, especially for children.

Like Malaria, the virus is carried by mosquitoes, this time by one called Aedes aegypti. The virus itself is related to Japanese encephalitis, Murray Valley encephalitis and Yellow Fever, and there are four “serotypes” or subgroups of it.

The mosquito lays its eggs in water containers, preferring the clean water found in water tanks and pots, in the saucers under pot plants and even under the pet’s food dish. These mosquitoes feed during the day and spend their time within 200 metres of their hatchery. The eradication of your local breeding areas becomes very important towards maintaining your own health, as you can see.

Simple Dengue has an incubation period of around 4 to 7 days and then the full blown symptoms of high fever and headache begin. The headache is usually behind the eyes and is made worse by eye movement. From there the pains progress to the limbs with acute muscle pains, hence the name “Break Bone Fever”. Interestingly, some patients complain of a metallic taste in the mouth. (I have no idea why!)

The illness lasts around a week and the treatment is symptomatic - generally paracetamol tablets, two taken four times a day. Plus rest.

The serious Dengue Haemorrhagic Fever attacks children and young adolescents and begins with the fever and pains, but around the fourth to fifth day there is a sudden deterioration, with the patient showing signs of circulatory collapse. A swollen liver and fluid in the lungs is common and death comes from the internal haemorrhages resulting in not enough blood to circulate to the brain.

The untreated death rate is around 5%, but with close supervision and skilled monitoring this can be brought down to around 1%.

The factors that appear to be important in the production of this serious haemorrhagic form are previous attacks of simple Dengue with other serotypes of the virus. While one attack of serotype 1 gives life-long immunity to that serotype, exposure to serotype 2, 3 or 4 produces a strange proliferation of the virus within the blood cells, without any immune response happening. The end result being production of chemicals that produce the haemorrhage.

While it is possible to venture forth with the diagnosis on clinical grounds, to be absolutely sure it requires a series of blood tests, showing increases in the circulating immune globulins.

With our ability to treat the ailment being very limited, the defence against Dengue virus lies in Public Health and Hygiene initiatives if you have mosquitoes in the house during the day. Do you regularly change the water in containers the Aedes aegypti mosquito might call home? Do you have mosquito screens? Does baby sleep under a mosquito net? If the answer to these questions is “no”, then perhaps it is time to look critically at your own Dengue prevention plan. Let me assure you, it is not a disease you want!

Dear Hillary,

I left my mobile phone in a hotel lobby and someone appears to have stolen it. I had it “locked” and you would have to know the PIN before you could use it. Should I just forget about it or what do you suggest?

Phoebe Phoneless

Dear Phoneless,

If you are absolutely sure it was “locked” then the kamoy isn’t ringing Hong Kong on your account. All they will do is get a new SIM card which costs a few thousand baht and they have a cheap mobile phone. Really Phoebe, you should go down to the shop where you bought it and tell them. You will also have to get a form from the police. Take the person in whose name the phone is registered! Lots of luck. Be prepared to waste half a day. Next time, keep it in your handbag - that’s what you carry one for. That and being a convenient place to store old shop dockets, three lipsticks, a couple of lippy pencils, mirror, comb, several rubber bands, coins of several denominations and countries, bottle opener and assorted business cards of people you can’t remember ever meeting. Do buy another phone; however you might try having a reward notice written in both Thai and English and putting it in the hotel lobby and the Pattaya Mail newspaper. Better luck next time.

Dear Hillary,

It seems impossible to buy furniture here that is not in “kit” form. Since I do not know which end of a screwdriver to use (and my husband is just as technically challenged) what should I do? Any suggestions?

Barbara

Dear Barbara,

Go without, or employ a handyman. When you find one let me know, Hillary’s been looking for one for ages!

Dear Hillary,

This sounds silly, but how do you get a girl to leave you alone in this town? I have had a couple of “liaisons” and the next day the girl returns and starts bringing in her clothes and toiletries! Is this “normal” here? I should add that I am 24 years old, very well built and handsome and earn very good money.

Martin

Dear Martin,

Some people do have all the problems! Be warned, never give any girl a key. Never admit any girl who has more luggage than one small handbag, even and especially if she is crying. Stop flashing lots of cash around. Keep your wallet and credit cards under lock and key at all times. Immediately take yourself down to Bookazine and buy a copy of the book “In the Bedroom Out of Trouble” by Bud Knackstedt and Oiy Ford, The English Thai Version.” ISBN 0-9644569-3-1. At 245 baht it’s a bargain. Not only is it a ripping read, it’s “Gay friendly” too. Just exactly what you need to keep you in the bed and out of grief, achieve more depth in your relationships, avoid legal and embarrassing personal problems and generally have a ball! Go for it!

Dear Hillary,

Why is it that whenever you go to a Thai restaurant and order a Thai meal your waitress will always ask you if you want rice with it? I mean, this is Thai food we are talking about here and it is only eaten with rice, right? Just to test what would happen I asked my waitress the other night to bring ‘mun farung’ (potatoes) instead. Her jaw dropped and she gave me a look I couldn’t interpret. Can you tell your readers why waiters and waitresses always ask if you want rice with a Thai meal?

Also the Pattaya Mail is such a great newspaper, our friends always have a laugh reading it on the beach. It’s a just a pity you can’t get it on the net.

Marc Holt

Dear Marc,

Wash your mouth out with soap. I sure hope you got the Thai tone right! They all ask farangs if they want rice for the simple reason that many farangs don’t know about Thai rice, or Thai dining, just don’t eat rice and are just as likely to send the rice back, thereby offending the cook. Sounds like you are more into surfing @ the beach than surfing the net. The Pattaya Mail IS available online, try <www.pattayamail.com>.

GRAPEVINE

Dining Out: Marco Polo - a culinary expedition

by Miss Terry Diner

The chef at the Marco Polo restaurant in the Montien Hotel is Khajorn Rangpitakun, also known as Leng Yu Kuang. Khajorn is an interesting mix of Thai and Chinese, and his food is an even more interesting mix. As he spends three months a year in Hong Kong, he is able to keep abreast of the latest developments in Chinese cuisine.

With some new items on the menu, the Dining Out Team was invited to sample these, plus some old favourites as well.

The Marco Polo is very suitable for dining out in numbers, and we joined in a group of seven. In this way we could experience a much greater range of dishes. That range turned out to be 15 dishes and took a couple of hours. The food tasters job, as you can see, is a long and arduous one.

The starters included chicken in Chinese wine, a lightly steamed chicken dish, served cold in a light white wine, Madame being very impressed with this and its lightly aromatic nature. For me, the star of the starters was the Hong Kong style spring roll. These were prawns wrapped in the finest rice paper ever imagined. Khajorn brought some out from the kitchen to show the Team, adding that he could not get these in Thailand but had to import the rice paper from Hong Kong to get this particular style.

Rounding out the first course were a fried shark’s fin and a sweet and sour pork spare ribs which were simply tender and wonderfully flavoured.

After a small breather it was into the soups, with a choice of shark’s fin, spinach with crabmeat, Schezuan soup, Won Ton soup and a black mushroom with bamboo pith. The making of the shark’s fin dishes is another long process, with the fin having to be soaked for many hours before cooking. Our two favourite soups were the luminescent green spinach and the zesty, tangy Schezuan variety. Again, all the flavours were delicate and yet discrete and it was very satisfying to contrast one against the other.

The next course was the Peking Duck. True Chinese chefs pride themselves on being able to do this dish. It requires an enormous amount of preparation of the duck, including filling it with air to split the skin from the meat and then slowly roasting it for several hours. Eaten in a rolled up pancake containing spring onions and cucumber sticks and a sweet dark sauce, this is classic Chinese cuisine. In days gone by, the duck meat was then given to the chef as a present! These days however, the duck meat is then further cooked on its own and we were presented with the tender meat fried in oyster sauce. This was notable in the fact that it was not an oily dish as duck can often turn out to be.

A small hiatus was called for before the next dish was launched. This was one of Khajorn’s own special creations - almost an example of “fusion” cuisine. Deep fried prawns in a very fine batter and served with a cream salad sauce. This hot dish was presented on a bed of foaming dry ice and the presentation and taste was just superb. Who said that Chinese food was all the same!

That had not even settled, when out came a very moist dish of steamed snow fish in soya sauce. This large boned fish just fell apart in soft succulent flakes.

We finished with a dry fried Hokkien noodle and then a plate of mixed fresh fruit. Burp!

Having eaten at the Marco Polo before, we previously said that this was probably the best Chinese food in Pattaya. This time I will say I’ve never had better - anywhere!

Animal Crackers: Bullmastiff

by Mirin MacCarthy

Back in the British Isles in the 1800s, in the days of palatial estates and game parks, poachers sneaking in and stealing the animals plagued the gamekeepers. What they needed was a special guard dog to protect their interests. That is why the Bullmastiff was bred, crossing the courage of the Bulldog with the size and strength of the Mastiff. The resulting Bullmastiff, or Gamekeepers Night Dog, was exactly what they were looking for. They were trained to hunt down, overtake and immobilize a man until the owner released them.

They even devised Gamekeepers night runs, where men ran though the grounds ten minutes before the muzzled Bullmastiffs were released. Even those men armed with clubs were never able to hold their own against a muzzled dog. They simply knock a person to the ground and stand over them.

The current breed is loyal and devoted to their family. Interestingly, although still highly protective they are quiet and often silent. A common boast by breeders is that you may be able to break into the home of a Bullmastiff but just try to get out. This may be an extravagant claim since how does the dog learn to tell the difference between the breaking in or breaking out mode?

Bullmastiffs are loveable and trustworthy if properly trained; loyal and affectionate, they make a superlative guard dog, it is good with its own family’s children, though needs plenty of room.

The intelligent solution in selecting a dog is in matching your personalities. Although this breed is a mellow (actually lazy), quiet and loyal pet, it is large and heavy, so not the sort of dog to keep in an apartment. Too big for a small person to handle, they weigh 110 to 130 lbs. but are convinced they can fit into your lap. They have been described as independent thinkers and if your ego demands strict obedience then perhaps this is not the dog for you. However, because of their breeding history it is important to begin training as puppies to ensure they know who is boss. There is no truth in the rumour they are somewhat dumb. They are highly intelligent and determined, and they would just rather not perform tricks.

For those thinking of owning or training a Bullmastiff, talk to Edward Gibson from the U.K Kennels in Pattaya. Telephone 038-709379. He was an armed services dog handler for years in the U.K. and has all the information at his fingertips.

Auto Mania: Sporty cars for ever!

by Dr. Iain Corness

Received an email from Hawaii Pete who has been over to Japan and found his loins stirring over the Honda S2000. Apparently test drove the Mazda Miata (AKA MX-5) as well and found the Honda far superior. Mind you, there is a $10,000 difference in price between them, so the S2000 should be better.

I saw the Honda on display at the Bangkok International Motor Show this year and it certainly has a great brutish appearance. It gave me a nice feeling in the underpants department as well. How it drives I do not know, but if it is better balanced than the Miata it will be incredible. The Mazda was the most delightful car (especially after “breathing” on the engine) with impeccable road manners. My own personal drive car in Oz was a Miata, so I must admit to more than a certain amount of personal bias!

The S2000 is a 2-seat roadster in classic front engine rear drive configuration. The chassis incorporates high cruciform frame and uses a VTEC 4-cylinder engine.

It comes “fully loaded” in the car parlance. Standard safety features include dual airbags, ABS brake system, electric soft top and seat belt load limiters and pre-tensioners.

The engine is the VTEC 2 litre for which the factory claims 240 horsepower, making it the highest-output (120 horsepower per litre) power plant of any non-turbo production engine in the world. The VTEC system is very clever. One of the biggest drawbacks with high overlap, high performance camshafts is the lack of torque at lower RPM’s. By electronically altering the overlap they managed to put some torque back in low down, without sacrificing power at the top end. The engine revs out to 9,300 RPM in the lower ratios and performance is reputedly 0-100 clicks in 6 seconds, so it certainly is no slouch either. It is mated to a 6-speed, close-ratio manual box.

The S2000 won the European Cabriolet of the Year in 1999, following previous winners as the Z3 BeeEmm and the SLK Benz. By the way, BMW Thailand have promised me a run in the latest 2.8 litre Z3, so more on the Z3 later.

It is good to see the major manufacturers all coming up with open top vehicles again after a period in which it looked as if the law makers were set about killing off the rag roof.

The Targa top Porsches were probably the best of all worlds a few years ago (and I still lament selling my 911 Targa) but the electrically controlled roof that slides into the boot of the SLK Benz has to be the ultimate today. My Miata came with the hard top, but it was always a two man job to put it on. One bachelor mate did use a hoist arrangement in the ceiling of his garage for his ‘glass roof, but even that was a bit fiddly putting it on, running round and round the car getting all the pins and slide clips in place.

Mind you, nothing beats open air motoring. Nothing. (Sex excluded, of course.)

Autotrivia Quiz

Last week I asked who was the first lady racing driver. Not even the bra burners could have got that one correct! It was a lovely French lady, Madame Laumaille, who in 1898 ran in the Marseilles-Nice two day event in a De Dion. On the first day she was actually first in class but eventually finished fourth while hubby only managed 6th. Let’s hear it for the girls!

Now for something completely different! This week’s quiz relates to the photograph. Look carefully. A Gull wing coupe that is not a Benz 300 SL or a De Lorean. It was manufactured in Europe (more clues, it was Belgium) with the mission statement “Man has never reached such high degree of perfection.”

OK, for this week’s FREE beer, be the first to fax in to 427 596 or email to [email protected] with the correct answer. And lots of luck! It stumped me when I first saw it.

The Asian Auto Industry Roundtable Conference

As I write this, the 4th Roundtable conference is being held in Bangkok. Graham Maxton, the Associate Editor of Automotive Publications for the Economist Intelligence Unit in London is the moderator for the conference and is advising caution. He claims that there is much more upheaval on the way for Asia’s car and truck makers - there are still many economic worries.

He cites the fact that South Korea is in a mess again, with Daewoo looking very shaky. In addition he is unsure of Thailand’s reform programmes and the political stability in Indonesia (who isn’t?). He also believes that the inevitable delays in implementing legislation in Asia could have a detrimental effect.

However, not everyone is as much a doomsayer as Maxton. A more than cursory glance at the Eastern Seaboard shows a very healthy and expanding area of manufacture. GeeEmm and BeeEmm are going ahead in leaps and bounds and a VW CKD assembly plant looks as if it is definite as well. FoMoCo are well into production and exports are already leaving Thailand’s shores for world markets, including Australia. It is not so many years ago that Oz was sending Holdens CKD to Thailand. That immaculate black HQ with the huge aerials in South Pattaya was one of those.

Passing Parade

Much has been written about the lack of passing in today’s F1 racing, but the calls for “something to be done” is not new. The following vignette is a delightful story, related by EnZed F1 enthusiast, Peter Chapple and available on the ‘net through www.planet-f1.com. Apparently, at the 1983 Monaco GP, Patrick Head from the Williams Team charged into the Tyrrell pits towards the end of the race demanding that Danny Sullivan be ordered to move over so that Keke Rosberg, who was leading, could lap him. Since Sullivan was fighting for 5th and Rosberg was a long way in front of the second place man, Ken Tyrrell refused. As a disgruntled Head left the pits a Tyrrell mechanic (whose name should have been recorded for posterity) spoke up: “Why don’t you ask Frank Williams to hold out a “Pass Danny” sign to Keke?” Surely, that says it all! Thanks, Peter Chapple!

Fitness Tips: Class Safety

by David Garred, 
Club Manager Dusit Resort Sports Club

G’day Pattaya,

The boom in the Health and Fitness industry over the past 12 months has seen not only the attendance in Aerobics classes shoot through the roof but the addition of several new clubs to the local area.

The success of any Health Club is measured very simply, 2 categories are considered and the most obvious one is secondary to the real measure - the long-term measure. Financial Success is secondary to Club Morale.

One of the aspects of club morale I want to address today is in a specific area in each health club - safety. Safety of the members and the staff of your health club should be in the mind of your club management at all times.

Considering that the Aerobics class is by far one of the best places to ensure both aspects of the successful club, the structure of every single class in that room must be strictly regulated to ensure effectiveness and safety.

IF your club adheres to these standards then great, go ahead and have a ball in your group exercise sessions; however, if you have been in a class that was not even similar to the following description of international guidelines, ask questions, NOW.

Typically, an exercise to music class begins with a warm-up, which generally uses movements with a low to moderate speed as well as a range of muscle and joint motion to match this slow speed. These movements are designed to promote body awareness, to increase blood flow to the muscles and to prepare the body for a higher intensity of exercise.

An aerobics or possibly a callisthenic component will come next, aerobics being the most popular.

The aerobics component, aerobic meaning exercise at an intensity to require the use of oxygen to continue over an extended period of time - 20 minutes, which is aimed at improving cardiovascular endurance and body composition. This is achieved by using movements of the large muscles of the body, which are performed continuously so that the heart rate stays elevated.

Following the aerobic workout, a short cool-down gradually reduces the heart rate to ensure blood pressure control within the skull and to prevent pooling of the blood in the lower extremities.

Calisthenics will come next, which generally includes exercises to increase muscular endurance or strength in specific muscles - your instructor will brief you on the goal for that class. Some exercises such as biceps curls, may isolate and exercise a single muscle group, while others, such as push-ups, involve several muscle groups.

The class ends with a further cool-down, which includes stretching and relaxation exercises designed to lower the heart rate further - toward rest or low activity level, help prevent muscle soreness, enhance flexibility and re-establish the body’s equilibrium.

I am not telling the operators of local Health Clubs anything they should not already know, this is to help ensure that the instructors are taking care of their instructors.

Carpe’ diem

Copyright 1999 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 Boonsiri Suansuk.