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Family Money: A two-way street
By Leslie
Wright,
Managing director of Westminster Portfolio Services (Thailand) Ltd.
Any strategic investment is only as good as its
implementation. The components of a portfolio at the asset class or sector
level should be optimally diversified (to reduce risk further), and match
the strategic objectives.
The time horizon of the portfolio also needs to be
established: how long will this investment remain in place before the
target date when the cash will be needed? How accessible is your capital,
either for a regular withdrawal (like a pension) or in an emergency? What
degree of flexibility is there for rearranging the component funds -
perhaps drastically - as market conditions change? Some instruments which
sound enticing under bear market conditions cannot be adjusted when equity
markets return to favour. For instance, if you’ve bought one of the
currently popular “Guaranteed Capital” instruments, you’re typically
forced either to hold them till maturity (if the issuing company is still
in business by then) or suffer a heavy encashment penalty.
Portfolio characteristics evolve over time, as do
markets. For example, the asset allocation can be adjusted if market
conditions are favourable and equities start giving higher returns than
bonds. But as we have seen this past year, market volatility can quickly
change the market mood, and the portfolio constituents can become more or
less risky. A risk-management system provides a monitoring and reporting
module that identifies portfolios that have drifted from the plan or that
may be at increased risk from market events.
The investor also needs to understand that a long-term
plan is a long-term plan, not a short-term one. If it was agreed during
the fact-finding process that, for whatever reason or purpose, a
longer-term plan was the most appropriate to that client’s identified
needs and financial objectives, then the client should not be fretting to
sell out 18 months or even three years into such a plan, or complaining
about early redemption charges if he does so. On a train journey from
London to Edinburgh the train may slow down for a while to cross a deep
ravine - but you don’t jump off the train: you wait for the train to
speed up again and reach its destination. Similarly with long-term
strategic investments.
Once a portfolio has been selected, it is important
that the client understands the role of the portfolio manager, and what
degree of discretion he may exercise over the components of the portfolio.
Is he empowered to buy & sell funds as he sees opportunities and
danger signals? Or must he consult with the client before each such
transaction? The latter ensures the client is informed, but opportunities
may be lost while the client considers the action, or wants further
detailed information before making a decision.
Many clients forget that they’re not the manager’s
only client, and answering emails, conducting research and providing
detailed information takes time - and time is money. Most clients never
stop to consider how thinly a firm like mine’s very modest portfolio
management fee is spread. In terms of time-value, it averages out to 22
minutes work per client per month. Some clients expect far more attention
than this, and only a very few appreciate the time and effort that is
devoted to their account. Many take it for granted, and some moan when I
haven’t made them a profit, despite major markets having dropped an
average of about 35% in the first 9 months of the year. If their
medium-risk long-term portfolio dropped in value (on paper) by less than,
say, 25% in the first 9 months of this year, this may not have made them
very happy in absolute terms, but indicates that the risk-management
system is doing its job within pre-agreed parameters: it beat the markets
by 10%.
Adding value to the Advisor/Client relationship
It is equally important that the portfolio manager
understands the needs of the client as regards reporting, meeting, and
being available (at least by phone or email) to answer questions and allay
fears when bad news appears in the press or on TV.
A risk-management system offers portfolio managers a
unique opportunity to enhance the adviser/client relationship. Advisers
who take the time and trouble to sit down with clients to discuss and
analyse portfolio risk acquire a better knowledge of client needs. In the
short term this will ensure their clients receive “best professional
advice” and are recommended the investment instrument most appropriate
to their needs and objectives, coupled to an appropriate portfolio with
which the client will be comfortable at least until the next scheduled
review meeting.
In the longer term, clients can have peace of mind
knowing that no matter what the markets may be doing at this moment in
time, someone is there to look after their best interests, and keep them
informed of what is happening.
Most clients value the education that knowledgeable
advisers can offer them. Regrettably few financial advisers are willing to
spend the time necessary to evaluate and understand the needs of their
clients, and educate them on at least the basics of portfolio management.
Indeed, few financial advisers are knowledgeable or experienced enough to
construct a strategic portfolio, and are rarely trained in this complex
aspect of the financial planning process. Any idiot can look up the best
performing funds of last year: the trick is to try to predict the best
performing funds of next year!
Making sense of the risk landscape is not easy, and
advisers who can act as trustworthy and comprehensive guides will always
be at a premium.
May you and your family have a Happy & Prosperous
New Year!
Snap Shot: Background information
by Harry Flashman
How many times when you are taking a photograph do you
look at the background? If you are honest, then the vast majority of you
will reply, “Never.” Unfortunately, the wrong background, fussy,
cluttered or “jarring” is a sure-fire way to spoil what could have
been a great picture.
In your haste and eagerness to make the subject the
“hero” you forget to look at the background, being so engrossed in
making the foreground subject look good. However, there are many
photographic techniques that can be used to get rid of backgrounds
completely.
Take a look at the two photographs with this week’s
article. The shot on the left shows a young girl sitting in a row of
chairs, with an extremely “busy” and distracting background. On the
other hand, the shot on the right shows the same girl sitting on the same
row of chairs, but the background has degenerated into a blur of shapes.
There is only one hero in this shot - the girl. The fact that these shots
were taken less than 30 seconds apart, by the same photographer, using the
same camera, shows that the control over the background is possible. It is
not hit or miss.
One of the best techniques to master is the one that
allows you to control the Depth of Field in any photograph. Depth of Field
is merely the “sharp” area between the foreground and the background
in any photograph. To isolate your subject in a snapshot you should try
and get the sharpness region to begin just before your subject and end
just behind the subject, your “hero”. Here’s how to do this.
For this technique, you do need a camera that allows
you to select the Aperture, otherwise called the f stop. Look at the ring
of numbers around your lens and you will see that they go from about 2.8
through to 22. You don’t even need to know what those numbers mean, but
all you have to remember is that the smaller the number, the shorter the
Depth of Field, and conversely, the bigger the number, the deeper the
Depth of Field.
When you want to take a portrait, focus on the eyes and
set a wide aperture - generally around f4 is satisfactory. Using a
standard lens and shooting about 2 metres from the subject, you will get a
Depth of Field, which will extend from around 200 mm in front to 400 mm
behind. Anything further away will be gloriously out of focus, isolating
your portrait subject from any distracting background, just like the
photograph on the right.
Now let’s look at the other side of the coin. These
are the times you want to have a huge Depth of Field, as in taking
landscape photography, for example. To maximize the Depth of Field, go for
the biggest number on the Aperture scale (generally around f22, though
some lenses will give you f32). As an example, if the background is 1000
metres away, then focus on a point about 300 metres away. With the one
third forward and two thirds back rule, you will get a good DOF from the
foreground, right the way through to 1000 metres in the distance. Simple,
isn’t it, after you understand the basic principles of these optical
laws.
If you have an “Aperture” mode in your camera it is
even easier. Select the aperture mode first, then select the f stop to
give you shallow Depth of Field or deep Depth of Field and the camera will
adjust the shutter speed to suit. Distracting backgrounds are now a thing
of the past!
But what do you do when you have a point and shoot
camera? Well, it isn’t the end of the world. First try and arrange your
photo shoot location in a shadowed area. The automatic iris on the camera
will automatically select a small numbered Aperture which will shorten the
Depth of Field for you.
If all else fails, then just walk in close so that the subject fills
the frame so well that there is no room for a background.
Modern Medicine: Insomnia and Counting Sheep
by Dr Iain Corness, Consultant
How many sheep did you count last night? If it were
more than one thousand you may have a problem. If you do have a problem,
then you also have plenty of friends, as the latest reports would suggest
that 30% of the population over 40 years old suffers from insomnia, with
males slightly more than females.
Medically we tend to split insomnia into two groups -
Primary or Secondary. Primary insomnia we say is when you have a problem
getting off to sleep, or maintaining sleep, for at least one month. On top
of that, the insomnia has to cause clinically significant problems in
daily social and occupational functioning.
Secondary insomnia, as the name suggests, comes after
other problems such as anxiety or depression, drug use (both prescribed
and illicit) or related to other disease states. Sometimes these people do
not complain of insomnia, but rather of daytime sleepiness and fatigue.
There are those who believe that insomnia is a
self-limiting problem. So what if you have a bad night tonight, you will
be so tired tomorrow that you will sleep well and the day after you will
be hunky-dory again. However, this is not really the true picture. When
talking about real insomnia, with a duration of greater than one month, a
very different picture begins to emerge. Insomniacs with symptoms of
greater than one year, for example, have 40 times the chance of being
depressed. That’s enough to make you depressed and lose sleep over it,
on its own! Insomniacs also have more road accidents, go to the doctor
more often, take more alcohol and are definitely more sleepy in the
daytime, with a decreased mental performance.
So what should you do about this problem. Well, if it
is a secondary insomnia, the obvious thing is to do something about the
problem causing the insomnia. A general check-up is a good place to start,
with specific treatment for primary factors like liver disease, depression
and anxiety.
For Primary insomnia there are many behavioural
therapies that can be tried. Relaxation therapy, using progressive muscle
relaxation techniques, practised for 2-4 weeks can often break the
insomnia cycle. Restrict your “bed” time to 6 hours a night only. Do
this by prolonging the amount of time you stay up, not by getting up
earlier. It may also be necessary to review some irrational fears about
insomnia, such as the idea that you “must have 8 hours of sleep every
night” which is not correct. This is called ‘cognitive therapy’.
But of course, there are those who still have problems.
Now is the time for pharmacological intervention, done under medical
supervision. Even in Thailand, with much available over the counter (OTC),
hypnotics are not OTC and should only be taken as the last resort.
Finally, here are a few good sleeping hints. No coffee
or alcohol just before going to bed. Put aside some time to go over
nagging problems before you go to bed. Don’t take your troubles to the
bedroom. That includes matrimonial disputes. Don’t sit in bed to watch
TV or read books, do that elsewhere - keep the bedroom for sleeping. Your
daily exercise should be done in the morning, not at night. Don’t make
it a habit to sleep in - set an alarm and get up at the same time every
morning.
Heart to Heart with Hillary
Dear Hillary,
Here we are at Xmas time again and here we are spending
heaps of hard earned cash buying useless Xmas and New Year cards, and
sending them off to people who never contact you at any time other than
Xmas. Why do we bother carrying on with this charade? Surely people
realise by now that they are being conned by the stores. The original idea
of Xmas spirit has long gone.
Scrooge
Dear Scrooge,
You really are the milk of human kindness, aren’t
you! I wonder why people would even bother to send you a card at Xmas, you
are such a misery bag. For the rest of us, Xmas is a time when we can
remember friends and acquaintances and just send a quick note to say,
“You are not forgotten.” If it is the cash that you object to, then
you can always make your own cards or send an email, but I don’t suppose
you have a computer and 60 baht in the internet cafe for an hour would be
far too much. I hope you enjoyed your Xmas!
Dear Hillary,
My Thai girlfriend is perfect in every way, but one.
When we go out for a beer she gets very ‘teary’ after a round or two
and rehashes all the bad things that have happened to her in the past. As
far as I am concerned, what’s in the past is in the past, so let’s not
cry over spilt milk, as they say. She sees it this way too, until she’s
had a skinful and then it’s back to the tears again. This then means no
nooky for me that night. Have you any ideas what I can do to get her over
this?
George
Dear George,
You men are all the same. Beer and sex, sex and
beer. Don’t you think of anything else? Have you tried not plying her
with drink? Beer is neither a stimulant or a muscle strengthener, but is a
depressant and a muscle relaxer (ever heard of brewer’s droop). Neither
of these items are good for your nocturnal pursuits, you know. Try
sticking with soft drinks for the little lady - and a few for yourself
won’t go astray either!
Dear Hillary,
I have an estate in the UK where I live for six months
every year. My children are all grown up and are self supporting, and my
wife is well covered in my will. The problem I am looking at now is the
fact that I have invested in real estate in this country, and have a Thai
friend who looks after my investment for me, collects rents and the like.
I would like to make sure that he is looked after if I should die, and
would want that my Thai real estate holdings go to him, and not my UK
family which will be well off when I go, which I hope will not be too
soon. How do I go about this, Hillary?
Stewart
Dear Stewart,
Really it is not too difficult at all, but you have
to follow Thai law in this situation. Hillary cannot give you all the
details, but a good Thai lawyer can. Ask around your ex-pat friends for
names of recommended lawyers, and if needs be get advice from more than
one. I would try to keep your two sets of beneficiaries as separate as
possible. There’s nothing like a death to bring a family together - to
fight about who gets what! Add in another set of beneficiaries and you
have a real catfight.
Dear Hillary,
I have a somewhat delicate problem, so you will forgive
me if I do not sign this fax to you. I am a single man, working in the
Sand Box and I come here regularly for many weeks at a time. On these
trips here I generally find that there will be a young lady who indicates
that she would like to take care of me, and a suitable arrangement can be
entered into. This is great for a bachelor like me, but I also want to
play the field a bit too. One young lady has really begun to sink the
hooks into me, and I can see a problem coming up, because I own my own
condo here. How do I get her to understand that this is not a lifetime
relationship, and when I go back to work I will want her to leave the
condo? I have four weeks left, Hillary, so a quick fix will be
appreciated.
Sand Box Sam
Dear Sand Box Sam,
I think you have just found out that you can’t
have your cake and eat it too! The way around this problem is to bring it
out into view and it will cease to be such a worry for you. Since Hillary
doesn’t know how good your Thai is, it may be better for you to have an
interpreter, as it is important the young lady understands the situation.
And understands it right now, not two days before you leave. She has been
taking care of you, so now you must take a little care of her and her
feelings. Now is the time to spell it all out, my Petal.
A Slice of Thai History: The pre-eminence
of Ayutthaya
Part One 1488-1516
by Duncan Stearn
As far as external trade was concerned it was the Chinese,
with their large and versatile junks, who were initially the most prominent
and important trading partners with the kingdom of Ayutthaya.
The monarchs of Ayutthaya found it expedient to enter into
a tributary relationship with the Chinese emperors. This was basically not
much more than lip service but it served the purpose of maintaining steady and
profitable trade with China from the Ming through to the Manchu dynasties.
Trade in clothing with Muslim merchants from India and the
Arabian Peninsula was also a cornerstone of wealth for the Thai state. Indeed,
the importance of the Chinese and the Muslims was so great that the Ayutthayan
monarchy divided its foreign trade department into two sections, one for the
Chinese and one for the Muslims.
Chinese, Indians, and later Persians and Japanese merchants
and their families began settling in Ayutthaya. They were welcomed by the
monarchy and a number became high ranking court officials.
When King Boromoraja III died in 1491, Ramathibodi II, a
son of Boromo Trailokanat, succeeded him. As the eleventh monarch of Ayutthaya
he was to reign for a period of 38 years, the second longest of what were to
be 34 rulers of the pre-eminent state in Thailand. Only his father, who ruled
for 40 years, was on the throne longer. Indeed, in the pantheon of Thai
monarchs just the current king, Bhumibol Adulyadej (Rama IX) and Chulalongkorn
(Rama V) have occupied the supreme position for longer periods.
Ramathibodi II, unbeknownst to him, was at the helm when
European nations such as Portugal, Spain and the Netherlands began their
extended maritime explorations of the world. In 1492 Christopher Columbus
travelled as far as America while in 1498 Vasco da Gama sailed around the Cape
of Good Hope and reached India.
The profits to be made from the spice trade, as well
dealing in silks and porcelain, lured European adventurers to Asia. Portugal
established a base at Goa and in 1511 the Portuguese viceroy Alfonso
d’Albuquerque launched an assault against Malacca.
The viceroy learned that the King of Ayutthaya had claims
on Malacca and duly despatched an envoy named Duarte Fernandez to see King
Ramathibodi II. The envoy basically presented the Thai monarch with a fait
accompli. A second envoy, Miranda de Azevedo, was sent to Ayutthaya and in
return Ramathibodi despatched a Thai mission to Goa.
In 1516, the Portuguese governor of Malacca appointed
Duarte de Coelho as the third envoy to Ayutthaya. He concluded a treaty with
Ramathibodi, the first between a European nation and Thailand. The Portuguese
agreed to supply Ayutthaya with firearms and in exchange they were allowed to
establish a trading station (factory) in Ayutthaya. The Portuguese were also
given permission to practice their religion.
Unfortunately, the Portuguese not only brought weapons they
also brought priests who attempted to convert the Thais to Christianity. The
Thais, like the Cambodians after them, failed to respond with much enthusiasm
to the new faith and the clergy eventually had to admit defeat. However,
whilst the Portuguese failed on the spiritual front, they did have a profound
effect on the local cuisine, being credited with introducing the humble chilli
to the good burghers of Thailand.
Bits ‘n’ Bobs
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POETIC JUSTICE OR SOI SAUCE?
I could see what was going to happen moments
before. A minibus had parked on the soi leaving room for only one
vehicle to pass comfortably. Cue the ‘King of the Road’ in his
mighty 4x4 off-roader, looking down on his minions from on high. The
‘offending’ vehicle was parked in ‘4x4’s’ lane and to
irritate ‘his mightiness’ further, an oncoming driver was
justifiably convinced he had right of way prompting ‘4x4’ to
lean on the horn as he made his move to pass. The ‘upstart’ (in
‘4x4’s’ eyes) of a driver was far from impressed with this
display of belligerent arrogance.
I sat chuckling as the other farang driver parked
up snugly against the kerb, justifiably blocking ‘Horn
Blaster’s’ path. He strolled up to the Machiavellian moron’s
vehicle and gave him a simple lesson in the rules of the road. He
explained that he had right of way and suggested the idiot relocate
his horn somewhere warm about his person and kindly reverse. This
was not acceptable to the elevated dictator. Nonchalantly, the
aggrieved farang went back to his vehicle, locked the car and
started to walk away. ‘4x4’ leapt out seemingly to berate the
now pedestrian protester, but was told, “I’m going for a beer
across the road; call the Police if you like. I hope you find the
moron who is blocking you and give him a piece of your mind, if you
can spare any. I hate ignorant people like that, don’t you?”
The antagonist went blue in the face but did
reverse, allowing the man with the indisputable right of way to
proceed. Why is it some people grow horns once they are behind the
wheel and believe they own the road?
ANAGRAM OF THE WEEK
William Shakespeare: We all make his praise
WORD OF THE WEEK - POSH
It surprises me to hear this word used by
comparatively young Brits, but even more so when used by
non-British. The word ‘posh’ is supposedly an acronym. The way
the ‘word’, supposedly sequentially made up of the initial
letters of an old phrase, is used today is as an adjective to
describe something or someone considered distinguished or superior.
That could include a grand occasion, a five star hotel or even a
supposedly ‘upper-class’ English accent. Although no English
dictionary of merit has accredited the derivation of the expression
with confidence, it is widely claimed the expression stands for the
saying: ‘Port Out, Starboard Home’. This refers to the preferred
side of the ship for the British gentry whilst travelling to and
from the East. Theories include that as there was no
air-conditioning in the 19th century then the cooling winds were
sought and it cost extra to secure a cabin on the ‘best’ side;
an opposing view relies on the desire to avoid getting a
‘working-class’ sun tan. I will never be posh under those
definitions, but if airlines introduce a ‘Puffers Only Sit Here’
policy, then I could well become ‘posh’. Unfortunately, I do not
see that happening and will therefore have to continue being exposed
to unmasked body odours by those preferring such ‘fragrances’ to
the ‘unacceptable’ smell of cigarette smoke. Perhaps I should
now retreat to my: ‘Smokers May Only Gather’ (S.M.O.G.) bunker
in anticipation of the blast of foul air and vitriolic criticism my
views may provoke.
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BEAUTY LIES IN THE EYE OF THE WOULD BE
HOLDER
My good neighbours to my right (not Mad Max, the
incumbent of his self-constructed Colditz Castle), are currently
‘babysitting’ a heavily pregnant little dog. By any stretch of the
imagination, this bitch is seriously ugly. I am most concerned that my
Dingo dog Ted is smitten. At least the ones he has previously raped (Ted
takes courtship and foreplay as read) were something to write home about,
but this was out of character. Why does he need to force his unwelcome
attentions on a specimen that obviously ran into a brick wall at speed?
Thankfully, the 6’6" fence proved an excellent deterrent foiling
his attempts to get another notch on his collar, but he has now taken to
ravaging the trunks of the palm trees. Whilst his self-gratifying
performances do tend to evoke much mirth for many passers-by, the looks of
disgust and disparaging comments directed at me via middle-aged farang
females is becoming a worry. I hope the tablets work or Ted may be having
his own sweetbreads for dinner one evening.
QUOTE OF THE WEEK
You know that ‘look’ women give you when they want
sex? Me neither.
Steve Martin
CLASSIC AUSSIE LOGIC
Watching an advertisement on Pattaya Mail TV, I was
reminded of a Foster’s beer commercial running in the UK many years ago.
Paul Hogan, the Australian actor who starred in Crocodile Dundee, was
playing the role of a less than worldly-wise Australian quite
understandably baffled by the London Underground railway system. As even
many Londoners can be disorientated when off their normal route, a Brit
asked Paul Hogan: ‘Excuse me, do you know the best way to Cockfosters
(Piccadilly Line Tube terminal)?’ Nonplussed, Paul Hogan shrugged and
replied: ‘Drink it warm, I suppose!’
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Personal Directions: What did you do with
the year that you had?
by Christina Dodd, founder and managing director
of Incorp Training Asssociates
The year is drawing to an end and soon we will be in
2003! It’s always at moments like these that we tend to reflect upon the
past events of the year and think to ourselves, where did the year go? And
as we look to the future year, we wonder what we achieved in 2002. What
have we got to show for it? Why did so many things go wrong? Why didn’t
we follow through on this and that to make it work? Why didn’t we try
harder? A multitude of questions rush to be answered. For those of us who
are slightly more mature in years than others, panic sets in as well as we
start to count how much time is left to do all the things we want to do.
Of course there are people who do actually achieve what
they set out to achieve and who can feel pleased with themselves at
year’s end. But for the most part, most people do not come anywhere
close to this. There have been numerous studies and tremendous amounts of
research carried out over many decades as to why peoples’ lives are the
way they are and why the majority of the population do not achieve their
dreams or have a reasonably successful and purposeful life.
Why do people succeed in life and why do people fail?
Why do some of us get things done and some of us don’t? What sets those
who succeed apart from those who fail? We all want to have meaningful and
comfortable lives filled with happiness and achievement so what happens
along the way that results in most of us not making it?
There are a some factors to consider that are out of
our control and may not put us on an equal footing with others. But if we
go beyond this and start to just look at the human element, to look at
ourselves first up, then a whole sea of reasons appears and it is
difficult to place greater importance on one over another. However, based
on my own personal experience and on my training studies and background,
there are four reasons that seem to jump up all the time as contributing
factors and answers to this question.
For starters, not taking responsibility for our own
actions and choices is something that is almost endemic in our
behavior. The constant making of excuses or blaming of others for our own
failures and things that we caused ourselves is a serious flaw in our
nature that can have the most negative affects. It’s the easiest thing
in the world to point the finger at someone or something else when
something goes wrong. How many times a day do you do this yourself? How
many times a day do you hear or see others doing it? From the simplest
activity of being late for work to not being able to complete an
assignment, we all try to take the easy way out and lay blame elsewhere,
avoiding our responsibilities. We go to great lengths to invent excuses
rather than having the courage to accept the blame ourselves.
When you find yourself around people who do this to the
extreme, then it becomes a very uncomfortable experience and you can see
instantly why they don’t get ahead or even why they are so unhappy –
they are too busy blaming other people for their own mistakes and
decisions.
Secondly, not being true to who you are and pursuing
what you want is another contributing factor to failure in our lives.
So often we change our minds and give up on our own ideas and plans
without real justification because we are easily influenced by others or
circumstances. Hold steadfast and do the things you want to do. Chopping
and changing just to please others or to suit a certain situation when you
really know that you’d rather being doing what you originally set out to
do, can create such a dilemma in our minds that if we do it enough, we
don’t have any personal loyalty, belief or conviction. This is
“discounting” at its worst and is harmful in the way that it can
weaken character, as opposed to build and strengthen it.
Then we come to improper behavior and attitude.
Doesn’t need much explaining does it? But it actually does when you
consider how intimately it can affect every single moment of our lives.
Both attitude and behavior are closely linked in that your attitude is
reflected in your behavior, and your behavior reflects your attitude.
There is no escaping this and it’s just too powerful, so why not adopt a
positive approach.
The way we think or view things and people and the way
we behave can impact those around us and have far reaching consequences.
If we tune in negatively and adopt similar attitudes and behavior, then
they are the kinds of results we will get.
And lastly, not having clear goals is perhaps
the most critical factor when we talk about success and failure. If you
don’t have clear goals, then you have nothing firm to strive for. You
have no reason to excel and to reap the rewards life can bring. Goals have
to be defined and solid, otherwise they are nebulous - like clouds. Most
people don’t have clear goals, if in fact any goals at all and live life
everyday without true purpose. They are simply existing and not using
their potential to the full. They are living half a life at half speed
with half the rewards. It’s like driving a car around and around without
knowing where you are meant to be going. If you keep on driving, you
eventually run out of petrol and end up nowhere.
All the best for 2003 and stay focused!
For more details about how Incorp can assist you or
your staff, please contact me directly by email at christina. [email protected]
or call Bangkok tel. (0) 2652 1867-8, fax (0) 2652 1870.
Social Commentary by Khai Khem
For goodness sake - fix the roads!
I acknowledge that through the years Pattaya has made
many improvements and much progress. There are, however, some things that
really need to be addressed. For example, the road and street surfaces in
the whole area of Banglamung-Nong Prue, all the way from South Jomtien to
north of Naklua, are in such disrepair I lack the words for an accurate
description.
Without exaggeration, almost every soi, road, many
sections of Sukhumvit Road, Siam Country Club Road, and all the sub-sois
into residential neighborhoods are full of huge potholes. Sections of main
roads are completely broken to pieces. The materials which were used by
the contractors are of such poor quality they will not withstand the heavy
traffic they are built to serve.
City engineers have just finished glorifying Dolphin
Circle with fountains and flowers. The new walkway along Pattaya Beach
Road and Jomtien Beach Road looks very nice. Young trees have been planted
and even huge TV sets have been erected on Jomtien Beach (which no one
watches anymore except the beach chair renters and food vendors). New palm
trees have been planted all over the city. City Hall is very proud of the
new entrance to Pattaya Central Road. But this is an art-school exercise
in rocks, grass, trees, and stone. Lovely! But very telling.
Most residents and tourists like clean beaches and
artful gardens, but those are just the icing on the cake. If the people
who live or visit Pattaya cannot move about with ease, the sprinkling of
gardens, gorgeous hotel lobbies and fine restaurants will not be enough to
change the image of Pattaya as a city in chaos and a place where the
everyday things in life are so difficult to deal with that the whole place
becomes one big headache after awhile.
It appears to the public that Pattaya City’s planning
and engineering department does not employ qualified engineers. If this is
so, these people who are passing for civil engineers are really gardeners
and landscapers.
The proof of quality is endurance and performance. If
the city’s engineers cannot build roads, streets, bridges and sidewalks
that do not collapse after one annual rainy season, Pattaya officials
should start looking for project engineers who can really run and monitor
a project properly.
The same goes with contract management. Ask any foreign
executive of a big international company located in Map Ta Phut that deals
with big construction projects and most will agree that big contracts
(like city waste management) need people who manage and control the
contract as the project progresses. That way a small problem does not
become a big one. I suspect that poor contract management is the reason
the city could not control the contractor, its performance, the build-up
of garbage all over the region, and the fact that the contractor ran
over-budget.
I’m not going to bring corruption into this right
now. Better to stick to some suggestions that could circumvent part of
that traditional vice.
It’s best to pay more and hire professionals. In the
end it will save the city a lot of money. A good example is the Larn
Island pier. As conceded by City Hall, it was thoughtlessly located,
poorly planned, built to a sub-standard, and is now unusable because boats
can’t offload passengers unless the tide cooperates! It was a big waste
of time and money - like so many other projects around the area (done on
the cheap at the lowest bid-price and a lot of “hoping for the best and
try to negotiate later”).
Pattaya’s traffic congestion has reached unbearable
proportions. Part of our traffic gridlock is due to the fact the streets
and roads are impassable and traffic locks up trying to avoid the
dangerous holes and obstructions. I admit that some of these problems have
become overwhelming because of years of ineffective policies, lack of
funds and political neglect and lack of professional training.
There is no point now to employ an old adage; “a
stitch in time saves 9”. What we must do now is attend to the region’s
infrastructure with definitive plans which are meticulously carried out to
completion.
Promoting Pattaya as an international tourist
destination is fine. But remember - tourists and travelers are, by their
very nature, MOBILE individuals. And at present, the most difficult thing
in Pattaya to achieve is mobility.
Women’s World: In search of youth and innocence
Part I
by Lesley Warmer
As I recently wrote an article on the shrinking
swimsuit I thought I had better cover how to get rid of the unwanted body
hair. I’m sure most ladies have tried a variety of different ways to get
rid of that unwanted hair; this article might give you some new tips and
idea’s on how to prevent those nasty red spots. You remember when you
get all excited, arrive on holiday, put on the new miniscule swimsuit (you
wouldn’t be seen dead in at home), look down and there they are. You end
up sunbathing with a towel over you and running to the pool with your
hands covering you like a simpering virgin.
The
perfect, hairless form.
The ancient Egyptians had this down to a fine art long
ago; a smooth and hairless body was the standard of beauty, youth and
innocence. The wife of the divine Faro set the example and every Egyptian
woman took care that there was not a single hair on her body. They used
depilatory creams. “Waxing” with a sticky emulsion made of oil and
honey, we now call it “sugaring”.
The Greeks also adopted this ideal of smoothness. The
sculptures of women are polished, shiny and there is not any pubic hair at
all, whereas the sculptures of men do have pubic hair!
It’s
the fashion these days for smooth armpits.
Young girls in Rome began removing hair as soon as it
appeared, using tweezers. They also had a kind of depilatory cream, called
philotrum; waxing was also a way of depilating and this was done with
resin or pitch.
In Turkey, as soon as a woman felt a hair growing, she
hurried to the public bath to have it removed or removed it herself. The
public baths all had special rooms where the ladies could get their body
hair removed. Nowadays the hamams or public baths have special rooms for
the ladies to depilate.
Then Catherine de Medici, Queen of France decided that
she didn’t want her ladies in waiting removing the hair from their
bodies and the habit of depilating fell into neglect. There was certainly
no removing body hair during the days of Queen Victoria, as no one saw the
body and I suppose it was fairly pointless.
When the sixties arrived we started to show more of our
body and smoothness was rediscovered. Today it looks as if every woman
removes hair somewhere on her body. There is nothing more unsightly than a
woman with hairy armpits!
These days there are several ways to remove unwanted hair, the most
common is shaving, but you can also use wax or chemical depilatories.
People shave legs, armpit hair, pluck eyebrows and likewise.
Perfect Match
Marrying wine with food
by Ranjith Chandrasiri
Ninety percent of the time we drink our wine with food.
As a matter of fact, food-with-wine is about as simple an issue as
boy-meets-girl. Fortunately, what happens between food and wine is not
haphazard. Certain elements of food react in predictable ways with certain
elements of wine, giving us a winning chance at making successful matches.
The major components of wine (alcohol, sweetness, acid and tannins) relate
to the basic tastes of food (sweetness, sourness, bitterness, and
saltiness). Some of the elements exaggerate each other and some compensate
for each other.
Whether
it is delicious Spanish Paella or a spicy Thai curry, you can always find
a wine to compliment your meal.
“White wine with fish, red wine with meat.”
That is the commonly accepted “law” for matching wine with food. Based
on centuries of experience and tradition, it makes a lot of common sense:
the subtle flavor of plainly grilled fish would be over-powered by a
strong red wine, whereas it might be difficult to appreciate the finer
points of a delicate white wine against the flavors of a rich beef stew.
The reason we worry so much about choosing a wine to go with a particular
meal is that without doubt the right food and wine combination can double
the enjoyment of both.
The problem is that the simple “white-with-fish,
red-with-meat” law doesn’t take into account many other factors, such
as different styles of cooking, flavorsome sauces and accompaniments, or
the influence of ethnic cuisine. More importantly, of course, it doesn’t
take account of personal tastes and preferences.
Matchmaking
Probably more rubbish has been written on the subject
of matching wine with food than on any other aspect of wine enjoyment. The
only sensible “rule” is to decide for yourself what suits your tastes
- it might not be conventional, but your own, personal taste is far more
important than convention. As we gain experience and learn more about
wine, we think of it not just in terms of flavor, but also in other terms
such as weight, power, aroma and length. One of the keys to choosing a
wine to suit a particular dish is to take a moment to consider these
qualities in relation to the food and then try to find a style of wine
with qualities to match or to contrast.
For example, imagine a fillet of poached salmon with a
rich, buttery sauce. The flesh of salmon is firmer, heavier and richer
than some other fish and the sauce is rich and creamy. We could choose a
full-bodied, big, buttery, oaked chardonnay to match the weight and
character of the dish or we could choose a tart, fresh sauvignon blanc to
contrast and cut through the heavy sauce. This all comes down to personal
preferences, but either combination would probably work well.
Alternatively, although it’s hard to imagine the flavors of this dish
being helped by the tannins of a firm red wine, would the light body and
fresh, fruity flavors of a young, delicate Beaujolais prove quite
acceptable?
Many dishes need a full-bodied wine with an oak overlay
and would suffer in tandem with a light, fruity wine. Smoked or wood
grilled meats perk up with an oaky, California Chardonnay, the big, rich,
vanilla-laden wines match perfectly with roasted chicken that drips with
naturally buttery, fatty juices and are just wonderful with a holiday
turkey that’s been cooked in a charcoal or wood roaster. And they do
just fine with a rich lobster; on the other hand they totally lose out in
pairing with crisp, acidic oysters, where a Chablis, a non-oaked
Chardonnay, a Fume Blanc, or a Muscadet would make a wonderful match.
Are lighter style wines inferior? Hardly. There are
wines that have proven their computability with local cuisines over the
centuries, wines such as Sancerre in the Loire, Rioja in Spain, Chianti in
Tuscany, and the lighter wines of the French and Italian Riviera.
They are light and easy on the palate, and palate
fatigue is seldom a factor. They’re not burdened by the oak and
high-octane strength linked with so-called serious wines and make for a
pleasant match. On the other hand, the lighter reds would be lost in
pairing with the beef bracciole, a favorite in the Piedmont, a dish that
demands the muscle of a native Barolo or Barbaresco.
Do high acid wines make better food matches? I like
Sancerres and Sauvignon Blancs and crisp Chablis with simply cooked fish.
Those slightly acidic wines add sparkle to a fish dish, much like a
squeeze of lemon and can counterbalance oiliness or fatness in food. They
won’t, however, do well and will, in fact, taste thin and troubling when
you’ve dressed up the fish with a rich buttery sauce. Fatty fish or
well-sauced fish demands a creamier Chardonnay.
I’ve always been told to avoid wines with salads. Is
that right? Partially. Lettuce and other greens coated with a strong,
acidic vinaigrette can destroy a wine. But make your vinaigrette with a
softer, rounder vinegar, a fine balsamic or a wine vinegar and you’ve
got a different situation where the vinaigrette enhances the taste of the
wine. Spike the salad with sweet onions or rich tomatoes or Roquefort
cheese and match it with a fine, dry Riesling or a chilled rose’ and
you’ve got a match made in food heaven. You’ve just got to think a bit
harder when selecting wine for a salad.
Is there a wine for chocolate? You can bet a case of
port or a batch fortified red wines on this match. Try a Ruby or Tawny
port with rich chocolate and you’ll wish you’d started the meal with
dessert. Try chocolate with other sweet fortified reds, Madeira or
new-world ports made from non-traditional wines from Australia and
California.
Guidelines - conventional combinations
Fish - (plain grilled or fried) dry or medium
whites which shouldn’t overwhelm the fish and should help to cleanse the
palate between mouthfuls.
Shellfish - crisp, dry white like Chablis, dry
Riesling, sauvignon blanc or Champagne.
Poultry - pinot noir and mature cabernet sauvignon
are delicious with roast chicken or turkey. If choosing a white, try
something medium bodied chardonnay or medium-dry German wine. The richness
of duck needs a rich wine (red or white) with full flavor.
Game & red meat - the classic combination is
with full, mature, red wines of high quality - Burgundy, Bordeaux, Chโteauneuf-du-Pape
or a new-world equivalent.
Lamb- a fairly firm, robust red with some acidity,
like Chianti, Rioja or zinfandel.
Chinese food - spicy whites such as gewrztraminer
or off-dry Riesling.
Indian or other spicy food - very cold, semi-sweet
whites can be lovely pairings.
Cheese - there are many good cheese and wine
matches - mature cheddar and mature red wine, port with stilton, goats’
cheese with sauvignon blanc, sweet wine with creamy cheeses are all
classic pairings. Avoid reds that are very tannic and whites that are
heavily oaked.
Dessert - the best sweet white wines are perfect
partners for most desserts.
Some foods are regarded as “problem” foods for wine
matching: eggs, tomatoes, vinegar, salad dressings and lemon are some
examples that spring to mind, but again it’s all down to personal taste.
Now that you’ve been exposed to a whole new set of
rules, just remember the basic one. It’s your taste that matters. If you
like a wine, drink it with the food you enjoy and you’re bound to be
satisfied.
Ranjith Chandrasiri is the resident manager of Royal Cliff Grand and
the founder the of the Royal Cliff Wine Club, Royal Cliff Beach Resort,
Pattaya, Thainad. email: [email protected] or [email protected]
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