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BUSINESS NEWS

HEADLINES [click on headline to view story]:
Hemaraj contributes to Eastern Seaboard Region

BCCT to hold luncheon with Dr Supachai Panitchpakde, incoming Director General of the World Trade Organization

Mossack Fonseca & Co. (Thailand) Ltd. arrives in Thailand

Thailand’s Privatisation Programme - Which way is up?

Opening Ceremony of Hi-Fi show 200

DHL adds value to Import Express service

Hemaraj contributes to Eastern Seaboard Region

Hemaraj Land and Development PLC coordinated with customers in Hemaraj’s 3 industrial estates, Chonburi Industrial Estate (Bo-Win), Eastern Seaboard Industrial Estate (Rayong) and Eastern Industrial Estate (Map Ta Phut), for the semester contribution program to donate tableware, notebooks, stationary, and Kellogg’s cereal to 6,500 students in 31 schools around the Eastern Seaboard Region.

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BCCT to hold luncheon with Dr Supachai Panitchpakdi, incoming Director General of the World Trade Organization

On July 1st, Sweden will hand on the Presidency of the European Union to Belgium. To mark the event, the Belgian-Luxembourg/Thai Chamber of Commerce (which chairs the European Community Business Association in Thailand) and the Thai-Swedish Chamber of Commerce are delighted to announce that Dr. Supachai, one of the most respected opinion leaders in Thailand in business politics, will speak at a luncheon on June 25 at 12:00 p.m. at the Sheraton Grande Sukhumvit Hotel. Dr Supachai will give a speech titled: “World Trade Organization, The Next Round”.

From September 2002, Dr. Supachai will be the Director General of the World Trade Organization. In the coming years his ideas will influence the international business scene and the political agenda of many countries. The Europe-educated Dr. Supachai is known as a straightforward economist with an open and creative mind. He is also a very talented speaker.

The luncheon is being organized under the patronage and with the support of the Royal Belgian Embassy and the Royal Swedish Embassy.

Cost: THB 800 per person for payment at the Beluthai office by June 18, THB 900 per person for payment at the door

Please confirm your attendance by Monday, June 18 to Beluthai (not BCCT).

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Mossack Fonseca & Co. (Thailand) Ltd. arrives in Thailand

Mossack Fonseca & Co. (Thailand) Ltd. was recently established to cater to the growing needs of the business community in Thailand. Stephen Wagner, the newly formed company’s managing director was educated at Emory University in Atlanta and Loyola Law School in Los Angeles. He brings with him several years of experience in the field of law and legal counseling. Wagner has been in Thailand for over 5 years, and has previously been employed with Mongkolnavin Law Office and Finansa Ltd.

Mossack Fonseca & Co. (Thailand) Ltd. is a member of the Mossack Fonseca & Co. International Group. It specializes in company formations in five major locations, namely, British Virgin Islands, Bahamas, Niue (South Pacific), Seychelles (Indian Ocean) and the Republic of Panama. Other jurisdictions, as well as a full range of corporate services are available through the international group and local office.

In BVI, the Bahamas, Niue, and the Seychelles, the parent company acts solely as a company formation agent and provides related services. In Panama, it provides a full range of legal services, including those related to private foundations, trusts, ship mortgage registrations and others. The Mossack Group has representative offices in Latin America, Europe, North America and Asia. The company is accessible to its client’s 24 hours a day for confidential, reliable and continuously updated corporate advisory services.

The group comprises over 220 members, among which are specialized attorneys, tax planners, business administrators, accountants and system analysts who jointly provide speedy and efficient services to its global clientele. Most of the senior staff members are multi-lingual and have traveled extensively around the world. The company’s group of experts, backed by over 23 years of experience, guarantees that its clients can access its valuable information providing beneficial advantages of various premier financial centers.

The newly operational office of Mossack Fonseca & Co. (Thailand) Ltd. aims to provide offshore corporate services for individuals, professionals and corporations alike. The company’s varied services include:

Company formation and administration in all jurisdictions

Foundations and trusts
Bank account openings with major offshore banks
E-banking and credit card services
Offshore tax planning and asset protection
Virtual office facilities/nominee services
Professional discounts are also available.

The company has operations in various countries, including Hong Kong, Panama, Bahamas, Niue, Seychelles, Bermuda, Florida, Geneva, Jersey, London, Luxembourg, Taiwan, Singapore, Vancouver, Zurich, Uruguay, Guatemala, Lugano, Czech, Cyprus, Brazil and now Thailand.

Mossack Fonseca & Co. (Thailand) Ltd. is only a phone call or e-mail away ([email protected]). Mossack can provide the best solutions to either individual, professional or corporate business needs. More information could be obtained from the company’s web site at www.mossfon.com

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Thailand’s Privatisation Programme - Which way is up?

On Thursday, June 21, the BCCT will also hold a Property & Infrastructure Committee luncheon - “Thailand’s Privatisation Programme” Which way is up?

The guest speaker will be Simon Leary, partner in corporate finance and head of project finance and privatisation for Pricewaterhouse Coopers. The luncheon will take place at the Evergreen Laurel Hotel, Laurel Room, 3rd Floor from 12 noon.

Simon Leary is resident in Bangkok and responsible for PricewaterhouseCoopers’s infrastructure advisory practice which he established in 1998. Recent clients have included the State Railway of Thailand, Department of Aviation, BTSC, I-Net, the Department of Mineral Resources and the World Bank.

With over thirteen years of relevant experience, Simon has advised on privatisation and public sector reform issues in 15 countries worldwide including Thailand, Malaysia, India, Cambodia, South Africa, Russia, Poland and the UK. He was educated at Cambridge University and London Business School.

As part of the post crisis reform agenda, the Chuan Government committed to a comprehensive programme of public sector reform which was to include a substantial privatisation element. Four years on and the new administration is still grappling with when and how to privatise the significant portfolio of business still owned by the Thai state. The new government is in the process of rolling out its own plans for how best to privatise. These plans offer significant opportunities and challenges for potential advisers, suppliers and investors. Next to the new regulations for setting up the TAMC the plans for the SoE Hold Co could represent the most significant reform programme of Prime Minister Thaksin’s first year in office.

Understanding what’s happening has implications not only for those directly interested in privatisation but for anyone with a wider interest in the general health of the Thai economy and the role of infrastructure in helping generate a sustainable economic recovery.

The cost of this luncheon is Baht 600 net per person inclusive of VAT and soft drinks. Purchase of other drinks is on personal accounts. If you wish to attend please reply with payment to the Chamber office by Wednesday June 20, tel. +662-651-5350-3, fax: +662-651-5354, or email: [email protected]

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Opening Ceremony of Hi-Fi show 2001

Dr. Arthit Ourirat, Ph.D., former Minister of Science, Technology and Environment (2nd left) presided over the opening ceremony of the Hi-Fi show 2001 at the Bangkok Trade and Exhibition Center. The good Dr. is shown here with Wijit Boonchoo (left), executive editor of GM Vision Co., Ltd.

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DHL adds value to Import Express service

Importers in Thailand can now pay import bills in baht

International air express leader DHL is introducing four new benefits to its Import Express service, all of which it says respond to the specific needs of Thai importers.

The new version of Import Express sees DHL taking responsibility for imports, from pick-up from a supplier through customs clearance to delivery, and also charging importers in baht to offset currency exchange costs.

The four new Import Express benefits are:

1) One account number means Import Express customers control the movement of their international shipments - they just fax or e-mail their overseas suppliers who then call their nearest DHL office to pick up the consignment to send to them or third party.

2) One price means DHL customers know in advance the price of a shipment in baht. This all-inclusive price includes pick-up from the suppliers, express shipment to Thailand, customs clearance and door delivery. DHL remains accountable for the shipment throughout.

3) One invoice means less paperwork for DHL customers because their bills are collected onto one account number.

4) One phone call means an Import Express account number can now be set up at ant time by contacting the 24-hour DHL Customer Service division on hotline 658 8111 ext: 6.

“We expect these tailor-made benefits will help importers in Thailand gain a new competitive advantage,” said DHL Thailand general manager Dr. Don Bhasavanich. “I believe DHL Import Express is an easier and more cost efficient way of importing.”

“Import Express simplifies negotiations between importers in Thailand and exporters around the world. It will therefore facilitate smoother trade relations between local businesses and their major trading partners,” Dr. Don said.

From now until August 5, 2001, DHL is offering Import Express existing customers and new customers who open an Import Express account and use the service a complementary package tour and variety of Import Express gifts, combined worth more than 500,000 baht.

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Updated by Chinnaporn Sungwanlek, assisted by Boonsiri Suansuk.
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