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Money matters:
Graham Macdonald MBMG International Ltd.
Getting a grasp on the Institutes of Deposits Protection Act
One year on since the Sub Prime Crisis in the US emerged and
still the global aftermath unfolds. The announcement of banks in the UK
suffering liquidity issues has already seen many depositors withdraw their
savings. Following the ‘temporary nationalisation’ of Northern Rock and the role
of the Fed in the rescue of Bear Stearns, the question of whether UK government
should intervene is a hot debate. Even without any banking failures, it’s also a
hot topic here in Thailand right now.
Following Thailand’s economic crisis in 1997, the government launched the
Financial Institution Development Fund (FIDF) which protects clients’ deposits
against bank insolvency or bankruptcy. It was designed to regain consumer
confidence in banks and has proven to be successful; locally bank deposits have
been considered as a secure method of saving money only a decade after the
widespread failure of finance companies and the Bangkok Bank of Commerce.
However, on August 11, 2008, a further Act, known as the Institutes of Deposits
Protection Act, was passed which supersedes this.
The Act defines, imposes and sets out some provisional measures which will alter
the statuses of financial institutions in Thailand including the security,
stability and safety of deposits held by financial institutions. The Act
establishes the Institute of Deposit Protection (“IDP”), classified as a
juristic person, which will control the Deposit Protection Fund. The IDP has an
initial capital of THB 1 billion with the main practical difference between the
FIDF and the IDP amounting to a cap on the amount of protection bank deposits
will receive. Under the FIDF deposits were protected regardless of the amount
whereas the IDP adopts a systematic tier approach.
Instead of the full amount, the maximum amount that the IDP will guarantee per
depositor per financial institution is THB 1 million, regardless of the number
of accounts owned by the depositor.
In order to adapt gradually, this Act provides a transitory provision which
covers the first four years of the Act as follows:
Year Value Protected THB
1
Full Amount
2
100 Million
3
50 Million
4
10 Million
5 Onwards
1 Million
From the effective date of this Act, any person who holds resident THB deposits
of more than THB 1 million in a financial institution must reconsider the
security and the returns of maintaining those accounts. Savings in commercial
banks will no longer be fully protected (subject to a 5 year scale) and will go
from a “low risk, low return” investment to “high risk, low return” investment.
The Act will greatly affect the credibility of financial institutions in
Thailand. It may encourage depositors to seek alternative ways to safeguard and
invest their money.
What are the alternatives?
We could look at keeping deposits within the regulated western and offshore
systems but in many cases this isn’t practical. This is Asia’s Century according
to global economists because of the demographic and economic trends will ensure
that the 21st century will be dominated by Asian politics and culture. Therefore
we should perhaps be looking for more opportunities to employ our capital in
Asian currencies than in the old world.
It is on this premise that the Asian Century fund was created as a high yielding
income fund offered in Thai baht, Singapore dollar and US dollar hedged
variants.
The Asian Century fund makes it possible to invest offshore in investment grade
deposit securities denominated in Thai baht currently yielding over 8%. What’s
more custodial regulations in Guernsey provide 100% protection to investors in
the event of the failure of these funds. This protection is unlimited, unlike
that offered by the IDP.
Other choices besides the Asian Century fund such as government bond, real
estate or even stocks are also available. One thing that we cannot miss though
is to study well and reach for a professional guide when needed.
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The above data and research was compiled from sources
believed to be reliable. However, neither MBMG International Ltd nor its
officers can accept any liability for any errors or omissions in the above
article nor bear any responsibility for any losses achieved as a result of any
actions taken or not taken as a consequence of reading the above article. For
more information please contact Graham Macdonald on
[email protected]@mbmg-international.com.com
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Snap Shots: by Harry Flashman
Making child
photography child’s play
 We
have just had the Jester’s Charity Children’s Fair and there were
certainly many children to photograph. There were also many proud Mums
and Dads with cameras, but how many got a ‘good’ shot of their
offspring? Unfortunately, not as many as you would imagine.
One of the largest problems when photographing children is their
attention span. You may know you are trying to get the best shot ever of
little Johnny, but little Johnny doesn’t know it. And what’s more,
doesn’t care! With an attention span measured in milliseconds, he is not
going to stand still long enough for you to fiddle around with camera
settings, flash settings and exposure mathematics. No, when
photographing children, use the Auto setting on your camera, and that is
one of the few times I will recommend that setting! To get a good kid
pic means that you have to be totally set up and ready. That means you
must begin with an idea of how you want the end result to look.
The music hall comedians always worked on the principle that they should
never get on stage with children or animals. There were many good
reasons for that, one of which was the fact that neither took stage
direction very well, and both had short attention spans. Photographing
children and animals is also fraught with the same problems.
Let’s look at the equipment needed first. In general, the further away
you get, the more natural the photograph you will get. So, a small zoom
lens (35-70) works very well in this situation as you can get far enough
away from the child without invading the child’s ‘personal space’ and
producing shyness or forced behavior.
Some photographers swear by Auto-focus (AF) for this type of shot, but
personally I find that the noise is distracting for children. The
“whiz-whizz” attracts for the aforesaid three point four milliseconds
attention span, and then they are off again. However, the newer AF
cameras (lenses) are much quieter and are probably the best in this
situation.
The most important item with child photography is to get down to their
level, otherwise by shooting from above you get distortions and a
“strange” view of the child.
Since children are fairly mobile creatures, you do need to get a
reasonable depth of field to keep the subject in focus. There are a
couple of ways to ensure that this happens. The first is to select 200
ASA film. This means you can use a smaller aperture (or your camera can
select it, on “auto” settings). This increases the depth of field,
keeping your subject in a deeper area of sharp focus. The second is to
photograph in good light, which again means the camera can select small
apertures.
Now let’s get down to the nitty gritty of taking the shot of your
terrible three year old. Put little Johnny in a well lit area of the
house, patio or garden with some favorite toys. Sit down on the floor a
little way from him and pre-focus the camera. Now just sit there, not
joining in to his play world, looking quietly through the viewfinder.
Remember that you do have a limited time before Mr. Three gets bored and
wants to wander off.
When everything is right, call out the child’s name and catch the
child’s first response to you. The inquiring look, or the big smile,
will be there to be caught forever on film. You can repeat that exercise
perhaps three times before the child will not respond any more, no
matter what you do! As I said at the beginning, these little creatures
have a very short attention span. Be prepared, be ready and be watchful
and you too can get that ‘magic’ shot.
Have a look at this week’s picture. This happy youngster was snapped by
doing all the above techniques. The candles on the cake were focusing
the child’s attention, and the supplicating hands were caught at just
the right time. Not a fluke, but the photographer was there, and ready,
and this was just one of about six taken at the time.
Modern Medicine:
by Dr. Iain Corness, Consultant
World Heart Day
Next weekend is World Heart Day (27th September). I know that
there are all sorts of “world” days for us to celebrate such as “World Three
Legged Water Spaniel Day” and “World Quokka Day”, but other than World No
Smoking Day, nothing comes close to the significance of World Heart Day.
Why? Because heart disease still remains the world’s greatest killer,
despite improvements in the overall statistics. The list goes:
Heart disease
Cancer
Stroke (cerebrovascular diseases)
Chronic lower respiratory diseases
Accidents (unintentional injuries)
Diabetes
Alzheimer’s disease
Influenza/Pneumonia
Kidney diseases
Septicemia
I have to say that I am at a bit of a loss to explain why Alzheimer’s
disease is considered a killer, but the World Health Organization must have
its own reasons.
Being a ‘world’ problem, it is also interesting to see the best countries
not to live in. Here are some interesting statistics (again from WHO)
Slovakia: 216 heart deaths per 100,000 people
Hungary: 192.1 per 100,000 people
Ireland: 152.6 per 100,000 people
Czech Republic: 148.6 per 100,000 people
Finland: 143.8 per 100,000 people
New Zealand: 127.3 per 100,000 people
United Kingdom: 122 per 100,000 people
Norway: 112.5 per 100,000 people
Australia: 110.9 per 100,000 people
United States: 106.5 per 100,000 people
Germany: 106.1 per 100,000 people
Italy: 65.2 per 100,000 people
Portugal: 55.9 per 100,000 people
Spain: 53.8 per 100,000 people
France: 39.8 per 100,000 people
Japan: 30 per 100,000 people
Looking at those tables it would appear to be beneficial to eat sushi in
olive oil and washed down with a nice bottle of Beaujolais.
However, we are here, and unfortunately I have no exact statistics for
Thailand, mainly because it is difficult to get exact statistics on anything
in Thailand, but just believe me when I say heart disease is also the
biggest killer - especially amongst the farang community.
The sad part in looking at the world statistics is that the mortality from
heart disease can be reduced. And what is even more sad is that much of it
can be controlled by the individuals themselves.
Looking at a few of the risk factors for heart disease turns up high
cholesterol and triglycerides, high blood pressure, smoking, diabetes,
overweight and a poor family history (and I don’t mean financially).
Another good thing about those risk factors is the fact that most of them
are easy to measure. Cholesterol, triglycerides and blood sugar (diabetes)
are a simple blood test (and results in 45 minutes at my hospital here).
Weight? Step on the scales. Blood pressure? Again a simple measurement, and
many people have their own automatic machine at home as well. Smoking? Check
your pockets for the cigarette packet and do yourself a huge favor by
throwing the packet in the rubbish bin. Poor family history? Well,
resurrection is currently beyond our capabilities right now, though some
expensive insurance plans may include it soon. Just understand that a poor
family history means that you should be doubly aware of all the other risk
factors. Simple.
The Bangkok Hospital Pattaya will be having a World Heart Day promotion at
the hospital on September 27 at which you can get many of the risk factors
checked at special low rates. It might just make sense to pop up to the
hospital that day and see whether you are in the high risk category. There
is no point in shuffling off early if you can avoid it, surely. (By the way,
for those of you in other provinces, you can always go and get the risk
factors assessed at a clinic close to you.)
In the meantime, you can always do the following:
Count the calories consumed each day
Watch the waistline
Measure the morning pulse
Get the cholesterol, triglyceride and sugar levels checked
Get the blood pressure measured
And of course, stop smoking.
Do all that and I’ll see you next year as well! And for those interested, a
Quokka is a strange marsupial, about the size of a cat, that lives in
Western Australia.
 Heart to Heart with Hillary
Dear Hillary,
Recently I asked you for some advice after my Thai girlfriend left me after I
innocently asked her if I could take some upskirt photographs of her underwear.
In reply, you belittled and scorned me, which I accept in good nature. But
seriously Hillary, I have a question... why do Thai women prefer to wear black
underwear, when white looks so much better against their tanned skin? I can’t
understand it. It has reached the point where I have been forced to purchase
white underwear to give whatever bar girl I pick up to wear. That’s not fair
really. I mean, why black underwear? Also, I am not some kind of deviant. Sure I
am Dutch and I am old, but I am not some trench coat wearing deviant.
Stig
Dear Stig,
I am so glad to read that you don’t have a trench coat, which makes you feel
that you are not a deviant. I take it this is because, in your mind, having a
trench coat is the sign of a deviant, my Petal. Well it’s not in mine, Stig. For
me, a deviant is someone who does things like sniffing lady’s chairs (and I see
an Australian polly went down for that one). Other things that deviants are
known to do is taking upskirt photographs.
I also have to take you to task, old Dutch Stig, where you write “Recently I
asked you for some advice after my Thai girlfriend left me after I innocently
asked her if I could take some upskirt photographs of her underwear.” It was far
from innocent, Stig, as in your first letter you even admitted that you set up
these photographs to post on the internet, on an adult website. And you also
admitted to buying knickers for bar girls to wear as you got down on your knees
probably with an electric fan and a box brownie. You wrote, “I recently asked my
Thai girlfriend to model for me, all I wanted to do was take some harmless
upskirt photos of her wearing underwear, then post them on the website.” There’s
the crux of this matter (crux, not crutch, Stig), “then post them on the
website”. So much for “innocently asked”.
As far as Thai girls preferring to wear black knickers rather than the white
underwear that you prefer, I have no experience in this, as upskirting is not
one of my regular pastimes. However, I did speak to the young girl in the
lingerie shop and she said that both black and red seemed to be popular, but did
mention an old chappie who comes in regularly for another pair of white ones.
She did not know whether the man was buying them for a girlfriend, or to wear
himself. Thailand is the place where you can be yourself, isn’t it, Stig?
However, the real reason for the black undies is to make their skin look whiter
by comparison. Thai ladies want to be white, and that is why whitening creams
have the biggest slice of the cosmetic market in this country. Simple, so put
away the camera and find something else to do with your spare time. Have you
tried stamp collecting?
Dear Hillary,
I have a problem in the office. Nui is the secretary for the boss and while the
relationship looks very business-like on the surface, I have seen the pair of
them out together at night in karaoke bars. I like Nui a lot and I have seen the
boss with other women at night, so she doesn’t know about this I am sure. Nui is
always very friendly towards me when we meet at work and I want to ask her out,
but I don’t want to get on the wrong side of the boss. I’m also thinking of
leaving, but I don’t want to leave Nui. Should I ask her to leave with me? I
haven’t discussed it with anyone yet.
Alex
Dear Alex,
Are you for real my shrinking violet? You are wondering if you should stroll up
to the coffee machine when she is making the boss his morning coffee and breathe
heavily and say, “I’m leaving. Want to come with me?” What do you think she is
going to say and do? Leave the coffee cup and say, “Hang on a tick, I’ll just
get my handbag.” You seem to have built this relationship up in your mind, to
the point that you think it is real. It is not, Alex, this is a fantasy that you
are trying to make reality, and it just does not happen like that. If Nui shared
that fantasy, then go ahead, it could be fun, but she doesn’t, does she? She
does not even know what you are thinking, but a good secretary knows how to be
friendly with the other staff members. You are mistaking that friendliness for
something much deeper.
Let me ask you a pertinent question, my Petal. How old are you? And how old is
Nui? I think, reading between the lines, that you are still a teenager and Nui
is much older than you. Did you leave the nest too early, Alex, and are looking
for a mother substitute?
Alex, yes you should leave, before you make an embarrassing fool of yourself,
and wait till you are much older before embarking on relationships.
Let’s go to the movies:
by Mark Gernpy
Now playing in Pattaya
Mamma Mia!: US/UK/Germany Comedy/ Musical/ Romance –
Starring Meryl Streep, Pierce Brosnan, and Colin Firth. Donna, an
independent, single mother who owns a small hotel on an idyllic Greek
island, is about to let go of Sophie, the spirited daughter she’s raised
alone. On a quest to find the identity of her father to walk her down
the aisle, Sophie invites to the wedding three men from Donna’s past,
all possibly her father. Popular ABBA music that I find horrifyingly
infectious and which I can’t get rid of. It’s an extraordinarily
vivacious and energetic musical that is bound and determined to make you
sing and dance and feel good about marriage and things like that. Mixed
or average reviews.
You Don’t Mess with the Zohan: US Action/Comedy – Starring Adam
Sandler. Zohan is an Israeli commando who fakes his own death in order
to pursue his dream: becoming a hairstylist in New York. It’s an Adam
Sandler comedy, and if you like his kind of low and crass comedy, you
should like this one very much. Here he plays the Israeli/Palestinian
conflict for laughs. I laughed. A lot. And cringed. A lot. It’s been
banned by censors in most Arab countries, but it’s a huge hit in Israel.
Mixed or average reviews.
Burn: Thai Thriller – All you ever wanted to know about “SHC” –
Spontaneous Human Combustion. As you certainly know, that’s the familiar
medical condition wherein a living human being suddenly bursts into
flames. Director Peter Manus comes up with a pretty far-fetched
explanation for this pretty far-fetched human malady. Slow and not
really too scary or gory; the film is more of a drama, and you’ll be
quite surprised at who the villain turns out to be. Some interesting
effects and moods.
Bangkok Dangerous: US Action/Drama – Directing twins Danny and
Oxide Pang return to remake their popular 1999 thriller about a ruthless
hitman (this time Nicolas Cage) who travels to Bangkok in order to carry
out four murders. During the course of his jobs, the triggerman falls in
love with a pretty local girl (Hong Kong actress and pop singer Charlie
Yeung in a quite affecting performance) while also forming a friendly
bond with his young errand boy (nicely played by Thai actor Shahkrit
Yamnarm). A fairly decent but predictable low-powered action flick, shot
in some interesting locations in Bangkok. For Nicolas Cage fans.
The Coffin/Longtorai: Thai Horror – Ananda Everingham as a
claustrophobic architect who participates in coffin rituals to gain a
new lease on life. It has much going for it, with a stellar cast and a
fine director, but I was mightily confused. It didn’t seem to be the
movie that director Ekachai Uekrongtham set out to make. The script won
a prestigious prize from the Rotterdam Festival, but the movie hadn’t
been made yet, and to get the necessary funding he had to change it into
a horror flick, making compromises along the way. The beautifully shot
opening sequence of the burial ritual at the temple gives an idea of
what the film could have been.
Boonchu 9: Thai Comedy – A continuation of this popular Thai
comedy series. The son of the original Boonchu is a happy monk who is
defrocked by his mother and sent to university in Bangkok. There he
meets up with new “friends” who drug him and mug him. But it all turns
out all right eventually because it is foremost a feel-good movie for
Thais from start to finish. It’s the gentlest of comedies/family dramas,
with the sweetest of characters. The Thais I saw it with were thrilled
with it every moment, and laughed and worried and got upset ever the
slightest at the plot complications. They had a thoroughly good time,
but I think you need Thai sensibilities to enjoy it. Has some appealing
young stars and well-established older comedians.
The Deaths of Ian Stone: US/UK Horror/Thriller – On an ordinary
night, the young Ian Stone encounters a mysterious creature and is
forced into the path of an oncoming train. Rather than facing certain
death, Ian finds himself reborn into a new life that feels strangely
familiar. It soon becomes apparent that Ian is being hunted by an evil
presence, and will be forced to die every day until he can solve the
mystery of his own life. Rated R in the US for violence, some drug
content, and brief language. Generally favorable reviews.
Death Race: US Action/Thriller – The most twisted spectator sport
on earth as violent criminals vie for freedom by winning a race driving
monster cars outfitted with machine guns, flamethrowers, and grenade
launchers. The previews are the most repulsive imaginable, and have
convinced me I don’t wish to see it. Mixed or average reviews.
Tevada Tokmun: Thai Comedy – Some Academy Fantasia 4 winners in a
comedy about the misadventures of an angel and a monk.
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