Pattaya Mail Business News

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Eastern Seaboard plant to become one of the world’s largest producers of solar cells

Who do you think deserves the Asian Business Leader of the Year Award?

Eastern Seaboard plant to become one of the world's largest producers of solar cells

Asirus Solar International (ASI) has confirmed its selection of the Eastern Seaboard as the preferred location for its new thin-film silicon solar cell production facility. This Cayman Islands based company announced that its wholly-owned subsidiary Thai Photovoltaics Ltd. (TPV) has entered its final phase of equity funding with the intention of beginning production in Thailand by January 2003.

Harry E Ingram, TPV’s vice president of administration and CEO noted, “ASI’s direct private placement offers accredited private and corporate investors a unique opportunity to participate in a very promising ‘pure play’ solar energy company with the potential for venture capital level returns. TPV has recently applied for Thai Board of Investment promotional privileges for its approximately 1.32 billion baht (US$29 million) project to be located in the Eastern Seaboard Industrial Estate (Rayong).

Thai Photovoltaics, Ltd. intends to manufacture relatively simple, low-cost photovoltaic (PV) solar cell modules in Thailand (based on proven U.S. and European manufacturing equipment using local raw materials) to meet substantial existing electricity demands in the surrounding Asian, Eurasian and Indopacific countries. The company based its selection of Thailand on the availability of low cost local raw materials (including float glass) relatively inexpensive skilled labor, pro-business environment, well-developed infrastructure and export facilities, substantial long-term tax incentives, central geographic location within the company’s target market and Southeast Asia’s increasing commitment towards solar-generated power as a low cost environmentally friendly energy source.

As a result of these factors, proven production technology and its intended large-scale production, TPV expects to be able to provide PV modules for a weighted market channel average of about 112 baht/watt (US$2.50/watt), significantly lower than any currently available.

TPV intends to begin production with about 60% local Thai content and increase this to approximately 80% within three years. About 90% of the company’s solar cells will be exported to developing countries in the surrounding region.

TPV’s president and CEO Douglas J. Parsons is an honors level U.S. graduate-degree engineer with significant recent high technology startup and technology transfer experience in Thailand. Parsons states, “Thailand provides us with an attractive long-term opportunity to produce reliable solar modules that can be sold profitably while being among the least expensive (price per watt) in the world”.

The design capacity of the planned Thai facility is 20 megawatts per year, consisting of four separate 5 MW/year production lines that will be sequentially installed and ramped up. At the current rate of international PV market growth (about 40%/year), this installed production capacity will represent about 4% of the world’s total solar cell production once full-scale production is reached around December 2005.

According to TPV consultant George D. Hooker, president of business consulting, The Brooker Group PCL, “The TPV project will make Thailand one of the world’s largest producers of solar cells and generate a new and substantial Thai-based support industry for products such as power inverters and related solar products.” TPV has recently begun discussions with potential strategic partners in the region.

The company will initially employ about 135 Thai production personnel at its Eastern Seaboard factory and an additional 20 administrative support and marketing personnel at its 43rd floor headquarters in the United Center Building on Silom Road in Bangkok.

Parsons is advised by a senior board of eleven successful international businessmen including world-famous venture capitalist and financier Arthur Lipper III, PV industry leader Paul D. Maycock, Dr. John D. Kasarda and Owen G. Kenan Jr., Kenan Institute Asia, local resident businessmen Thomas S. Worthley, vice president and director of Southeast Asia for Metcalf & Eddy Inc., David R. Nardone, president of Hemaraj Land and Development Public Company Ltd., and Martin E. Horn, previously senior vice president of Read-Rite Corporation and CEO of KR Precision Public Company Ltd.

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BCCT Business Luncheon

“Thailand’s Economic Challenges and IFC’s Role”

The BCCT is delighted to welcome Timothy R. Ryan, country manager of the International Finance Corporation (IFC) who has kindly agreed to be the guest speaker at the BCCT luncheon on Tuesday 31st July from 12 noon at Rattanakosin Room, Shangri-La Hotel.

Ryan arrived in Thailand in July 2000 and is country manager of the IFC Bangkok Office. The mission of IFC, part of the World Bank Group, is to promote sustainable private sector investment in developing countries as a way to reduce poverty and improve people’s lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, and provides technical assistance and advice to governments and businesses.

Ryan started his career at IFC in November 1990 as an investment officer in the Africa department. The geographical spread of his subsequent responsibilities has included East Asia, South Asia, South America and Africa. Most recently, he has been working as senior investment officer in the East Asia region, including Thailand. In addition to his work at IFC, he has worked as a consultant with Booz, Allen, Hamilton and in corporate finance with Levi Strauss & Co. He is a certified public accountant and was an adjunct professor of finance at Georgetown University.

Ryan previously worked in Thailand in 1987-88 as the country representative of the Catholic Relief Services, a non-governmental organization, implementing health, micro enterprise and social forestry programs in Northeast Thailand and providing refugee assistance. Ryan received his Bachelor of Business Administration in Accountancy and German at the University of Notre Dame and a Masters Degree in Public Policy from the John F. Kennedy School at Harvard University.

The cost of this luncheon is 600 baht per person including VAT. If you would like to attend please reply with payment to the Chamber office no later than Monday 30th July 2001, fax: +662-651-5354, tel. +662-651-5350-3, email: [email protected]

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Who do you think deserves the Asian Business Leader of the Year Award?

Public to nominate their choice for the prestigious pan-regional award

Business television network CNBC Asian Pacific and the leading business logistics solutions company TNT announced in a press conference the call for nominations for the Asian Business Leader Awards 2001, which both companies are organizing for the first time.

The pan-regional award seeks to recognize the achievements of business leaders based in the Asian Pacific region under the theme “Reinventing Corporate Asia”. The winner will be awarded at a gala dinner event to be held in Singapore on November 29.

The Asian Business Leader Awards 2001 is sponsored by the Citigroup Private Bank in association with Avaya.

The Awards’ Theme

The Asian Business Leader Awards 2001 seeks to identify and honor the men and women who have the vision, the management skills and the leadership qualities to prepare their companies over the last few years for the challenges of globalization and market volatility. This is why the focus of this year’s Awards is summed up in the theme “Reinventing Corporate Asia”.

In these challenging times, there arises a renewed emphasis on the time-tested fundamentals of corporate leadership, sound management and long- term vision needed for companies to not only survive but to excel.

The focus on “Reinventing Corporate Asia” revolves around the challenge of hitting sales targets, improving performance and increasing productivity in this new competitive environment in Asia. The honor goes to those at the helm of these trend-setting companies in recognition of their contribution to their company and industry and their example of excellence in leadership.

Call for nominations& criteria

From July 5 to September 14, people across the Asia Pacific can nominate their choice for the Asian Business Leader of the Year by logging onto www.cnbcasia.com/abla2001 and completing the online nomination form.

The nominees must:

i) hold the top leadership role for the company for at least two years

ii) still be employed in that company at the time of nomination

iii) head a company that employs more than 150 staff

iv) head a company whose revenue exceeds US$50 million annually

v) head a company in one of the countries/areas covered in the awards

The nominee’s company must operate in at least one of the following countries/areas: China, South Korea, Taiwan, Hong, Japan, Thailand, Malaysia, Singapore, Indonesia, The Philippines, Laos, Cambodia, Myanmar, Vietnam, India, Pakistan, Bangladesh, and/or Sri Lanka.

The nominee will receive an entry kit and will be asked to answer questions about his or her role in the company, as well as details of the company’s performance. Only the nominees who have completed the entry forms are eligible to win the awards. All entry forms must be completed and submitted by September 14, 2001.

After short-listing the entrants, an independent panel of judges will meet prior to the Awards event in November to deliberate and select from among the finalists the Innovator of the Year, the Corporate Citizen of the Year, and the main award, the Asian Business Leader of the Year.

The Asian Business Leader of the Year Awards 2001 will culminate in a gala event in Singapore on November 29 at the Shangri-La Hotel to present the awards to the winners.

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Thai Massage in the clinical seting

One of the oldest healing modalities in the world is Thai medical massage, dating back 2,500 years to the times of the Buddha. In fact, it is said that Thai massage came to this country brought by the personal physician to the Lord Buddha himself.

Mindful of the fact that for many people there could be a problem in differentiation of Thai medical massage from some of the more “sensory” varieties around town, the Bangkok-Pattaya Hospital is now offering true Thai medical massage as one of the modalities presented in the Physical Therapy department.

Reflexology foot massages and traditional Thai massages are now available, being performed by a masseuse trained at the world famous Wat Po School, as well as being certificated by the Thai Department of Health. Both types are 250 baht per hour and appointments may be made through the Physical Therapy Department, telephone 038 427 777, ext 1329. Hours are weekdays only, 9 a.m. to 6 p.m.

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Updated every Friday
Copyright 2001 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 Sungwanlek, assisted by Boonsiri Suansuk.
E-Mail: [email protected]