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it's a savvy sanitation engineer who has orchestrated this whole crisis so he can push through a lucrative concession of bombproof receptacles to naive city officials. Culprits? Look no further than those who stand to benefit most from those who cry, ''Where can I put my garbage?'' EMERALD PLOUGHSHARE Children in hot water I have little doubt that when Mr Thaksin sees the picture of his children on the front page of the Post he is going to feel some sadness and probably anger, in the same way I do.
But Mr Thaksin should remember that if it wasn't for his tricky financial dealings, his children wouldn't be on the front page.
And that is why I feel angry with him. A man who really cared about his family wouldn't have used his children like this. A man who really cared about his family would have found some way to keep his children out of it. DISGUSTED Foreign businessmen
do have a choice As a European businessman, I spent on average US$5 million on goods and services in Thailand. In order to make the purchasing simple I transferred the money into Thailand at the beginning of each year and converted it to local currency.
The Thai government, in its infinite wisdom, created a law which required me to give them free use of 30% of my money for a year and then, if I presented documents, which they would deem correct, I could have my own money returned.
I have now placed my business into a spread of Southeast Asian countries and China. In doing so I have found countries that treat me with respect and give me every possible assistance. In addition, we have made financial savings in the order of 10% by doing so.
Perhaps one day in the not too distant future, the reality that foreigners do have a choice and are not prepared to be treated in this manner will dawn on Thailand's financial experts.
But by then, huge irreparable damage will have been done. The real losers are the Thai people themselves. MARK DEVRIES Unclear rules Following the cabinet's approval of crucial amendments to the Foreign Business Act, the details regrettably remain far from clear and are, at any rate, subject to change by the Council of State and the NLA.
Also conspicuous by its absence is any statement from the interim government on how these amendments are expected to benefit the Thai economy or even enhance the average Thai citizen's share of gross domestic happiness.
Comments by individual ministers at the cabinet meeting that were reported in the press seemed only to focus on whether the amendments were sufficient to deal with Temasek's nominee company, Kularb Kaew. GEORGE MORGAN Thai mentality and
the price of beer It seems the subject of double pricing in Thailand just won't go away. What has not been mentioned on this subject though is the price of beer in bars frequented by the farang.
While we understand and accept the fact that enclosed, air-conditioned establishments have a higher overhead than open-air Thai-style shops, it still depends on the mindset and character of the bar owner as to what the prices should be.
Most bars, owned or supported by farangs, will keep their prices on a level with the surrounding bars in their immediate area. However, bars owned outright by a Thai, in that same area, tend to be just a little bit higher. Why is this?
Is it the Thai mentality that thinks just because we are foreigners, they have a right to charge more? I know a Thai lady who has a bar in an area surrounded by foreign owners, and her price for beer has always been at least five baht higher. In fact, her business fell off so much she decided she needed to increase her prices because she was not making enough money. Needless to say, today her bar stays empty.
This same Thai mindset is going to ruin many tourist spots if something isn't done to wake people up. CHARLIE BROWN Pattaya Firm's ownership
and its performance Finance Minister M R Pridiyathorn is correct when he says that the Foreign Business Act (FBA) has been improperly implemented for years, and that the amendment will clear the air, reducing uncertainties. He is right that investors don't like uncertainty, and so clarifying matters should attract investors.
But, with all due respect _ and there are few I respect more _ he evidently failed to consider whether the FBA was needed in the first place. He also has not shown any evidence that we have weighed the pros and cons of the FBA before charging ahead with this key amendment, brushing aside the Joint Foreign Chambers of Commerce's request that the government study the bill before changing it.
In the 30+ years as a securities analyst or teaching others the trade, I've never met anybody who claimed that nationality of ownership made a difference in a firm's performance; nationality is not even in the curriculum of any financial analysis programme I am aware of.
Could it be that nationality doesn't make a difference to a firm's profitability? If not, then what are we scared of?
I suggest we should specify targeted action against those dangers we are guarding against, rather than blunt, blanket restrictions on ownership.
Thus, we might specify, up front, that firms service domestic clients first, even foregoing a 25% price differential if necessary; that 51% of their directors be Thai, including the chairman; that Thai International's hub always be in Thailand, etc.
But, most of all, we should heed that old adage: Look before you leap. This government should take advantage of its not being elected, and look to our long-term national interests rather than pander to the latest popularity poll. Have, say, Thailand Development Research Institute, Nida, Chula, or Thammasat study the matter, then decide. BURIN KANTABUTRA Foreign chambers'
request is reasonable The Joint Foreign Chambers of Commerce have made a reasonable request that the Ministry of Commerce study the impact of the proposed changes to the Foreign Business Act before implementation.
We have already seen the result of implementing capital control measures where little or no thought was given to the wider implications. As far as I can see, if the proposed changes to the Foreign Business Act are to apply retrospectively, they will mainly favour rich and powerful Thais, who will be able to position themselves to take advantage of the fire sale which will need to take place to unravel the nominee structures. For those foreign investors not willing or unable to find a Thai investor, closing up shop may be the only alternative. In this case, the foreigners will go elsewhere and it will be the low- and middle-class Thais who lose jobs. JAMES Owning & controlling Foreigners venting their fury at Thailand's new ownership rules must be familiar with the owned and controlled criterion for foreign ownership as it is widely used even by their own governments. For example, the US Department of Transportation (DoT) enforces a rule that domestic airlines must be 75% owned and controlled by US citizens. Recently a new firm called Virgin America was denied a permit to operate a domestic airline because the DoT contended that although the firm was 75% owned by American citizens it was not controlled by them. CHA-AM JAMAL
Bangkok Post
Friday January 12, 2007
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