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ADVERTORIAL: Pattaya’s hottest haven: La Royale Beach, Pattaya
Hong Kong native Mr. Eric Lai knew that Thailand was the
place to be. After completing several outstanding projects in the kingdom,
he sought long and hard to find the perfect locale for his ultimate
lifestyle vision.
Lai’s latest project is an impressive one. Located just south of Pattaya
directly on Jomtien Beach, La Royale Beach is the first of its kind in the
region and evolves as a result of a long process of research when Pattaya
had proven a great potential for grade A residential building.
The eastern seaboard, with its thriving expatriate community, offers little
in the way of quality housing and almost no luxurious lifestyle homes. “When
I looked at the demand side of property development, I saw that the greatest
need was in the eastern seaboard cities.” Lai points out that people from
across the world are beginning to seek lifestyle properties in Thailand,
increasing the demand for quality accommodation including condos,
time-shares and hotels.
The project, which will eventually see 14 private villas and a high-rise
condominium with 127 units, is already garnering attention from both buyers
and investors. Over 50% of the units have been sold to a majority of local
European expatriates either living and working along the Eastern Seaboard or
for use as an escape from the European winter.
“The water features at La Royale Beach will be extensive. We want to make
sure that we have as much natural area – either green or water – as
possible” says Lai. In fact, the development will have so many pools and
man-made lake areas that the eight garden villas will appear to be floating
atop a body of water.
Lai’s description is certainly enticing. “As one drives into the project
then will pass a lake with a café located in the center,” he says, too, that
a car park podium and a dry dock for small boat mooring will be located
beneath the villas and water features, leaving 80% of the entire development
to remain green spaces.
“Having spent the past 14 years in Thailand I consider this my home,” said
Lai. “I am as concerned about the environment as are many others and so have
insisted of my design team that all energy conservation measures
deficiencies be effected through the use of renewable energy being included
in the design.”
The villas & houses will be very large, with the largest boasting 800 square
meters of structure alone. When adding each villa’s private gardens and
terraces, these homes will be over 1,000 square meters of useable space.
Some of which will offer a home cinema & private gymnasium.
Lai’s company, the Wise Power Group, has designed the overall engineering,
interior and landscaping, but will subcontract several groups to implement
the details. Interiors will be designed with a Thai influenced minimalist
contemporary style while the landscaping will be implemented by the same
firms who designed the lush gardens of the Peninsula and Sukhothai hotels in
Bangkok.
By all accounts, La Royale Beach appears to be a premier location for resort
living with a ready made market eager for quality homes. Lai believes that
there are also a lot of Bangkok Thais that would be interested in such a
convenient and beautiful localefor a second home.
Thai trade deficit with Australia due to gold and oil imports
Thailand’s trade deficit with Australia last year
resulted from gold and oil imports facilitated by the Thai-Australian Free
Trade Area (FTA) Agreement, according to new figures given to cabinet.
Deputy Government Spokesman Chalermchai Mahakitsiri said the findings formed
part of a presentation prepared by the Commerce Ministry on the trade
implications of the FTAs Thailand has with Australia, China and India.
From trade statistics compiled during January to November 2005, Thailand
enjoyed trade surpluses with China and India but suffered a deficit with
Australia.
As a result of the FTA with Australia, which came into force last year,
Thailand exported goods worth US$2.9 billion during January to November
2005, up 31 percent over the same period of 2004. Trucks topped the
category of Thai exports.
At the same time, Thailand imported US$ 3.0 billion worth of goods from
Australia - up 59 percent over the same period in 2004, resulting in a 111
million dollar deficit.
The rise in imports was due mainly to nearly 35 billion baht worth of gold
and 19 billion baht worth of oil coming in from Australia. (TNA)
Cabinet approves proposed government budget for 2007 fiscal year
The cabinet has approved a proposed state budget for the
2007 fiscal year which is approximately 8.5 percent higher that that of this
2006 fiscal year.
The proposed stated budget was approved at the cabinet’s weekly meeting,
Deputy Finance Minister Chaiyot Sasomsub told journalists. He said that the
proposed budget of Bt1.476 trillion would be a balanced budget for the third
consecutive year. About 26 percent of the proposed budget, or Bt400 billion,
would be earmarked to support state investment projects, he noted.
The proposed budget figure for the next fiscal year, which will begin on
October 1, 2006, is based on official projections that the Thai economy will
grow around 5.0-5-5 percent next year with the inflation rate standing at
around 3.5 percent, according to the minister. (TNA)
Garment export looks promising this year
Thailand’s 2006 garment export growth is expected to
outpace that of last year with the total value reaching more than US$3.5
billion, according to an industry executive.
Thienchai Mahasir, president of Thai Garment Industry’s Association, said
that the local textile and garment industry has enjoyed a continued growth.
Last year, it earned 130 billion baht in revenue both locally and overseas.
It is projected that the local garment industry would undergo a significant
change this year when Thailand reaches free trade area (FTA) deals,
particularly with the United States and Japan. He said the US is the largest
export destination of Thai garments. Currently, garment exports to the US
represent more than 52 percent of total exports.
Thienchai said the association would organize a ready-to-wear clothes trade
fair during February 15-19. The event will be a venue for producers,
distributors, and buyers to meet and hold business talks.
There would also be a seminar aimed to give new knowledge in the Thai
garment industry to both purchasers and sellers, he said. (TNA)
Culture Ministry backs advertising ban on alcoholic beverages
Thailand’s Ministry of Culture supports the Public Health
Ministry’s plan to ban all advertising for alcoholic beverages, all the
time, in all medias to help cut alcohol consumption among the Thai people, a
senior official of the Ministry of Culture said.
Director of the Department of Cultural Monitoring in the Ministry of
Culture, Ladda Tangsuphachai, said she agreed with the Alcoholic Consumption
Control Board resolution to totally ban alcoholic beverage advertising in
all medias as alcohol directly harm the drinker’s health and also cause
problems that affect the general public.
“Alcoholic beverages are a kind of vice that should be curbed because they
can lead to domestic violence,” she said. However, she admitted that more
talks have to be conducted regarding the commercial aspects of the
legislation as alcoholic drink producers have to run their business. The law
should not violate the rights of the alcohol producers under the
constitution, she added.
Public Health Minister Pinit Jarusombat said that the Alcoholic Consumption
Control Board has decided to ban all advertisements of the products on
television, on all radio stations and in all print media. A subcommittee has
been set up to draft the law. The legislation will cover all aspects of
advertising, distribution and the sale of alcoholic beverages, and is
considering raising the minimum age of alcohol purchase and consumption from
age 18 to 21.
The laws are expected to be announced without cabinet approval in March.
(TNA)
Public sector debt accounts
for almost half of GDP
Thai public sector debt in November accounted for more
than 45 percent of the economy, according to figures released by the Finance
Ministry.
Pannee Sathavarodom, director-general of the Public Debt Management Office
of the Ministry of Finance, said the bulk of the 3.25 trillion baht debt at
the end of November 2005 was mostly domestic and long-term. The Finance
Ministry issued two billion baht worth of bonds to repay the Financial
Institutions Development Fund (FIDF) and lent 6.62 billion baht for state
enterprises in December.
In the first quarter of the Thai budget year, the public sector had borrowed
a total of 22.7 billion baht.
In December 2005, the Finance Ministry repaid debt worth seven billion baht
– of which 601 million was principal and 6.4 billion, interest and fees.
Debt serviced for the first quarter of the budget year by the Finance
Ministry stood at 24.97 billion baht.
Regarding debt servicing on the part of state enterprises for overseas loans
in December 2005, the Provincial Electricity Authority and TOT Public
Company Ltd. restructured debts with the Japan Bank of International
Cooperation totaling 29 billion yen, or 9.95 billion baht.
Domestically, the Expressway Authority of Thailand and the Mass Transit
Organization of Bangkok borrowed 2.9 billion baht to roll over their debt.
At the end of November 2005, the overall Thai public sector debt amounted to
3.25 trillion baht, accounting for 45.89 percent of gross domestic product
(GDP). Of this amount, 1.8 trillion was borrowed directly by the Thai
government, while state enterprises owed one trillion baht. The FIDF still
carries a debt burden of 425 billion baht.
Overall, the amount of public sector debt was 6.7 billion baht less in
November 2005 than it was in October 2005. (TNA)
Transport Ministry turns
down request for new bus fare hike
The Ministry of Transport has rejected a renewed call by
private bus operators for a new bus fare rise, saying the demand will be met
only after the operators improve their services and bus conditions.
Deputy Transport Minister Gen. Chainant Charoensiri confirmed that the
ministry would not allow any new bus fare hike at the moment.
“Although the private bus operators claim rising fuel costs, the ministry
sees that domestic fuel prices, like global oil prices, still fluctuate up
and down,” he told journalists.
“The ministry wants private bus operators to improve their bus conditions
and services, including quality and ethics of bus drivers, in order to meet
the official standard first, and their call will then be considered,” he
noted.
About 100 representatives of private bus operators, including those running
city bus services under concessionary deals with the Bangkok Mass Transit
Authority (BMTA) and inter-province passenger bus services under similar
concessionary contracts with the Transport Company Limited met the minister
Thursday, demanding the new fare rise.
The private operators called for a Bt1.0 flat fare rise for
non-air-conditioned city buses and a Bt1.0 increase for every so many
kilometers for air-conditioned city buses, while those running
inter-province passenger buses called for a fare rise of Bt0.03 per
kilometer.
The city bus operators also demanded that they be allowed to automatically
raise the fares by Bt1.0 whenever retail fuel prices edge up Bt2.0 per
liter.
Gen. Chainant said the Ministry of Transport would cooperate with PTT Public
Company Limited (PTT) in a plan to help convert more than 1,200 city buses
into natural gas for vehicle (NGV)-based engines to partly address their
problem of higher fuel costs. (TNA)
Private sector to be briefed
on economic restructuring plan
The Commerce Ministry is to
brief private sector representatives on its national economic restructuring
plan aimed at strengthening local businesses and boosting the
country’s global competitiveness, according to Deputy Prime Minister and
Commerce Minister Somkid Jatusripitak.
 Deputy Prime Minister and Commerce Minister
Somkid Jatusripitak
Major private agencies, including the Thai Bankers’ Association, the
Federation of Thai Industries, the Thai Chamber of Commerce and the
Federation of Thai Capital Market Organizations, would be invited to the
forum, Somkid said.
Under the ministry’s economic reform plan, he said local industries and
businesses would be divided into clusters such as agricultural and
electronic products beginning March 2006. The clusters would help concerned
parties to develop and improve their competitiveness.
In an attempt to boost the country’s overall ability to compete, the deputy
prime minister called for collaboration and cooperation among all sectors of
the Thai economy.
Somkid said he would also meet with Labor Minister Somsak Thepsuthin to
discuss ways of improving skills of Thai workers in order to better serve
the country’s future needs.
The date of the economic reform briefing for the private sector has yet to
be announced. (TNA)
Highway Dept. to seek foreign investment in 6 new motorway routes
The
Highway Department plans to seek foreign investment for the construction of
six new routes of motorways with a total distance of 870 kilometers, worth
160 billion baht under a program to build alliances for the development of
Thailand.
Chaiswasdi Kittipornpaiboon, the department’s director-general, said that
the plan is part of an effort to build a network of the country’s transport
system, facilitate tourists’ travel, and land transport of goods.
It is also initiated in support of the government’s attempt to find foreign
partners to invest in mega-projects to be presented for investors to
consider at the end of January.
The six routes are Bangpa in-Saraburi-Nakhon Ratchasima for a distance of
200 km, Bangyai-Nakhon Pathom-Kanchanaburi - 98 km, Nakhon Pathom-Samut
Songkram-Cha-am - 134 km, Pattaya-Mab Ta Pud - 38 km, Saraburi-Bang Pa Kong
- 150 km, and a third ring road in Bangkok - 250 km.
The construction project will be proposed in packages under which foreign
investors could opt to invest partially or wholly. However, the Highway
Department would have to make a study on environment and construction
itself.
“We believe the six new routes of motorways will help complete the network
of roads. Without reliance on state budget, the project can be implemented
quickly. It will help save travel and transport time considerably,” he said.
(TNA)
Govt. to seek refineries’ cooperation in further cutting crude imports
The government plans to seek cooperation from refineries
in reducing the import of crude oil by 10 percent this year to prevent
possible impacts on the country’s trade balance.
Deputy Prime Minister and Commerce Minister Somkid Jatusripitak and Energy
Minister Viset Choopiban invited representatives of local refineries to
discuss an oil import plan for this year.
Dr. Somkid said that since last year, the refineries had given full
cooperation in jointly managing fuel imports. It resulted in a 5.1%
reduction of oil imports to 850,000 barrels per day on average.
This year, the government would seek more cooperation in an effort to reduce
oil imports by a further 10 percent form that of last year. To this end,
people would be asked to reduce fuel consumption and turn to use alternative
fuel.
At the same time, the government would attempt to boost exports and tourism
to improve the current account balance.
Last year, he said, oil prices continued to rise, resulting in the monthly
trade deficit surging to the highest level of US$1.7 billion. In particular,
fuel imports in May rose sharply to 1.29 million barrels per day, from
around 0.9 million barrels per day in January.
To deal with the situation, the public and private sectors jointly managed
oil imports, causing the shipment to reduce to 1.26 million barrels per day
and 0.83 million barrels per day on average for the whole year.
However, he said, the value of oil imports increased by around 31 percent to
640 billion baht because fuel prices surged 40 percent last year. (TNA)
US may relax import regulations
to benefit Thai exporters
The United States is reviewing its import regulations,
including those concerning bond deposits on agricultural products, which
will benefit Thai exporters, Deputy Prime Minister and Commerce Minister
Somkid Jatusripitak said.
Somkid told journalists that restructuring anti-dumping regulations,
including those concerning bond deposits, is reportedly a focus of
Washington’s review of its import regulations.
The restructuring, if concluded, would benefit exporters of agricultural
products from several countries, including Thailand, he noted. Thai shrimp
exporters would particularly benefit from the US relaxed regulations, he
added.
Turning to negotiations on the proposed Thai-US Free Trade Area (FTA)
Agreement, the deputy premier reiterated that the government would not put
Thailand at a disadvantage. He said he had instructed the Thai negotiation
team and all agencies concerned to begin reporting results of the
negotiations to the public through local media.
The ministry of commerce would also organize public forums from time to time
to publicize detailed negotiations of the proposed Thai-US FTA pact, and
would also report initial results of the negotiations to the House of
Representatives’ Economic, Finance, Fiscal and Commerce Commission.
Somkid said the next few rounds of the Thai-US FTA talks would focus on
specific issues, rather than touching on general issues as those discussed
in the past six rounds.
Whether or not the planned Thai-US FTA pact would be concluded by mid 2006
depends on both Thai and US negotiators, he noted. (TNA)
Number of stock analysts set to rise to 500 by first quarter
The Securities Analysts’ Association has plans to improve
the quality of its stock analysts and hopes to increase the number of
analysts to 500 by the first quarter of this year.
Kongkiart Opaswongkarn, president of the association, said that the number
of its stock analysts rose to its target of 450 at the end of 2005 and this
number should reach 500 soon. Currently, he said, the number of analysts is
considered small. The association intends to raise the number to accommodate
the expansion of the country’s securities business.
As well, it wants analysts to be able to prepare research and analysis
reports constructively and comprehensively, and to cover small listed
companies in larger numbers.
He said the association would cooperate with the Stock Exchange of Thailand
(SET) in preparing activities to give more knowledge to investors.
SET’s President Kittirat Na Ranong said there are 725 stock analysts
registered with the Securities and Exchange Commission (SEC) at present.
However, as of November 30, 2005, the number of investors opening accounts
with securities companies totaled 111,550.
SET saw it necessary to increase and develop the quality of stock analysts.
So, it has teamed up with the Market for Alternative Investment,
SETTRADE.com, and the Securities Analysts’ Association to organize the Young
Researcher Competition Program.
Under the program, 3-4 year class students of universities countrywide will
be given an opportunity to get training and present securities analysis
reports for competition. (TNA)
Leading social critic urges PM to stop corrupt practices
Thirayuth Boonmee, well-known government critic and a
lecturer at Bangkok’s Thammasat University, said that Prime Minister Thaksin
Shinawatra should stop boasting that he was voted into office by 19 million
voters in the last general election because he could be toppled if corrupt
practices continue in the country.
The lecturer, one of several prominent leaders in the 1973 student uprising,
called on the prime minister to face the issue of alleged corruption in his
cabinet and not to hide behind the popular vote that carried him into his
second term in office. A major reason, which could lead to Thaksin being
thrown out of office, has nothing to do with gaining 19 million votes,
but rampant corruption practices, according to Thirayuth.
“The Thai people can’t stand those who are corrupt - and several corrupt
leaders who abused their power in the past have been toppled”, Thirayuth
said, suggesting that if Thaksin continues to provide protection to those in
his government who are believed to be corrupt, he can lose office himself.
The former student activist helped throw out the military regime headed by
former military strongman Field Marshal Thanom Kittikachorn and Air Chief
Marshal Prapat Charusathien during the student-led uprising in October 1973.
Corruption as practiced at the top, Thirayuth said, is not just seen in one
family but in some ten families.
They are being closely monitored by middle-class people, he said, adding
that the movement demanding that Thaksin leave his post may not yet be
“ripe”, but can be interpreted as the tip of an iceberg. The government
should not be reckless and speed on without solving the problem, he said.
In his Saturday radio broadcast to the nation, Prime Minister Thaksin spoke
angrily after protestors intruded on the Government House, stating, ”These
people have been opposing me for some time. They’re acting like an elite
group with privileges over the 19 million people who voted for me in the
last general election. It’s just a joke.”
If Thaksin intends to steal even one baht of government revenue, the 19
million votes still cannot protect him, and he will have to resign as prime
minister, charged Thirayuth. Thirayuth considers it improper for Thaksin to
bring up the amount of votes he received in the general election as an
excuse to violate the law.
Thirayuth said the government should be more lenient with protestors who
were arrested for intruding on Government House grounds last Friday, and if
possible, not take protest leaders into custody, as that would only make the
situation worse.
Pol. Gen. Pratin Santiprapop, former national police chief and ex-senator,
and Sondhi Limthongkul, organizer of Friday’s rally criticizing Thaksin and
his cabinet at Lumpini Park in Bangkok, were the most prominent protestors.
Some 40 protestors who were apprehended by police after storming into
Government House were released last Saturday. (TNA)
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