Advance October 2013

www.austchamthailand.comA MONTHLY PUBLICATION OF THE AUSTRALIAN-THAI CHAMBER OF COMMERCE IN PARTNERSHIP WITH THE AUSTRALIA THAILAND BUSINESS COUNCILOctober 2013

COMMUNITY SERvICES Voluntary English Teaching: The Greatest Gift is Time

CHAMBER EvENTSBangkok Sundowners at Royal Orchid Sheraton Hotel and Towers, Bangkok

8 22 28

NEWS AND UPDATES Thailand’s Automotive Sector Gearing Up

14

BUSINESS BRIEFKey Strategies for Managing Your Company’s People During Change

ABF Busts Myths about Business in Thailand!

in this edition

Thailand – A Surprisingly Big Investor in Australia

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Exceptional People Ad final.indd 1 5/17/13 2:34 PM

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ContentsPATRONHis Excellency James WiseAustralian Ambassador to the Kingdom of Thailand

PRESIDENTLeigh Scott-KemmisDBM (Thailand) Ltd.

vICE PRESIDENTSM.L. Laksasubha KridakonBaan Laksasubha Resort Hua Hin

Belinda SkinnerTopTalentAsia

TREASURERWarwick KnealeBaker Tilly Thailand Limited

DIRECTORSDavid BellCrestcom-Ra-Kahng Associates Ltd.

Josh HylandAEC South East Asia Co., Ltd.

Brenton Mauriellodwp

Sam McMahonNS Bluescope Steel (Thailand) Limited

Alan PolivnickWatson, Farley & Williams (Thailand) Limited

Rananda RichBlackmores Ltd.

Charles WrightmanNatural Ville & Lenotre

EX OFFICIOGreg WallisSenior Trade Commissioner, Thailand

COORDINATORSPaul WilkinsonJVK International Movers Ltd.ESB CoordinatorEmail: [email protected]

Trevor Dick Indochine Asset ManagementESB CoordinatorEmail: [email protected] Harry UsherLady PiePhuket CoordinatorEmail: [email protected]

BUSINESS BRIEFS6 Thailand – A Surprisingly Big

Investor in Australia8 Mergers & Acquisitions: Key

Strategies for Managing Your Company’s People During Change

NEWS AND UPDATES14 Thailand’s Automotive Sector

Gearing Up16 New Era for Myanmar’s

Financial Sector

25

18

6

AUSTRALIAN BUSINESS FORUM

18 ABF Busts Myths about Business in Thailand!

COMMUNITY SERvICES22 Voluntary English Teaching: The

Greatest Gift is Time

australianalumni25 Knowing Australia: The Challenge

for Thai Students

CHAMBER EvENTS26 Eastern Seaboard Sundowners

at Cape Dara Resort Pattaya28 Bangkok Sundowners at Royal

Orchid Sheraton Hotel and Towers, Bangkok

AUSTCHAM MEMBERS30 Member Offers – Accommodation32 New Members

FROM THE CHAMBER OFFICE34 MessagefromtheOffice

October 2013 5AustChamThailand Advance

In my role as President I also sit as a Direc-tor on the Thai Board of Trade (BoT). Under the leadership of Khun Isara Vongkuso-lkit we’ve seen an increase in the already strong level of engagement between the BoT and Chambers like AustCham. At a recent meeting we discussed Thailand’s aspirations to be a regional hub. Is it likely to be realised? Maybe it has already hap-pened? Is there anything holding Thailand back? Are Australian companies using Thailand as their Asian hub?

We’d be interested in your views on those questions. We’re also doing some research ourselves so that we can better understand the issues involved.

One a related note, it’s clear that boom-ing stock markets notwithstanding, eco-nomic activity in Thailand is slowing from an admittedly high level. This means that future economic growth is going to depend more and more on productivity gains. Thailand has a lot of low hanging fruit in this regard. At the same time, Australian companies have decades of experience operating in an environment where productivity is king. So presumably there’s a lot for Australian busi-nesses to contribute to Thailand?

I fear, however, that there’s still a gap that needs to bridged. The challenges are on both sides. Australia needs to recognise Thailand’s business promise. And business in Thailand need to start making the invest-ments required to unlock productivity.

Leigh Scott-KemmisPresident, AustCham Thailandwww.austchamthailand.com

SeptemberwasaflagshipmonthforAustCham. We launched our new Australian Business Forum (ABF)

initiativewith our first luncheons held inBangkok and on the Eastern Seaboard. You can read more about the Bangkok function in this month’s magazine. We’ll report on the ESB event in next month’s issue.

The turnout for the inaugural ABF was fantastic. We had almost 80 guests. They heard captivating presentations from Visy’s Simon Shale, and our incredibly supportive Ambassador HE James Wise. It was a great way to start the ABF.

You can read more about the ABF on our website (www.austchamthailand.com/abf). However, I’d particularly like to encourage you to join our Australian Business Forum group on LinkedIn. You’ll see that there are already some valua-ble discussions happening on important issuessuchastheTrans-PacificPartner-ship (TPP). We hear a lot about the Asean Economic Community (AEC) here in Thai-land.; we shouldn’t forget there are other important trade policy developments as well. The TPP is one of those.

At the time of writing we are also well into the process to recruit a new Executive Director. This is an important decision for AustCham. It is one that I and my fellow Directors are devoting a lot of time to. We were heartened to receive more than 20 applications for the job. It shows that the role is highly sought after. It’s a great reflectionontheChamberthatwe’vehadso much high quality interest. The finaldecision is going to be tough one. We are in the luxurious position, however, of choosing from an impressive bunch.

FROM THE BOARD

Australian-Thai Chamber of Commerce20th Floor, Thai CC Tower889 South Sathorn RoadBangkok 10120Tel.: +66 2 210 0216 Fax: +66 2 675 [email protected]

For more information on individual Board Member focus please visit www.austchamthailand.com/boardmembers

Editorial CommitteeBelinda Skinner, Rananda Rich,Domenica Agostino, Gary Woollacott

Marketing & Production Scand-Media Corp. Ltd4/41-42 Moo 3, Thanyakarn VillageRamintra Soi 14, BangkokTel.: +66 2 943-7166/8 Fax: +66 2 [email protected]

AdvertisingFinn BalslevEmail: [email protected]

Contributions to Advance magazine are welcome. Please submit content to [email protected] by the firstdayofthemonthforpublicationinthe following month’s magazine.

Opinions expressed in Advance do not necessarily reflect the views of the Chamber.

President’s Message

6 October 2013 AustChamThailand Advance

Thailand – A Surprisingly Big Investor in Australia

By Greg Wallis

Foreign investment in Australia is a hot media topic and China is often the target of this scrutiny, even though

it ranks only 11th as a source country for total foreign investment stock in Aus-tralia. Thailand, whilst ranked 17th by the same measure, has had by far the fastest growth of our top 20 investor countries in thepastfiveyears(ABS,2012).In2012,total Thai investment stock in Australia was valued at A$ 7.3 billion, having sky-rocketed 21-fold from A$ 338 million in 2007.

During the same five-year period (2007-2012), Thailand’s foreign direct investment outflows increased 13 times to US$ 74billion, and in 2012 Australia was ranked as the 7th biggest recipient of Thailand’s FDIoutflows(BankofThailand,2013).

This rapid growth in Thailand’s footprint in Australia and abroad is a surprise to many who don’t usually think of the country as a significantforeigninvestor.Butinfacttheinternationalisation of Thai companies is not a new phenomenon. It started in the 1990s when Thailand adopted financialliberalisation policies, although the firstwave of rapid and opportunistic expan-sions ended abruptly with the devalua-tion of the baht during the Asian Financial Crisis from 1997.

Still, Thai multinationals remain sparsely represented in the global arena, reflect-ing their latecomer status and limited size and scope of activities. Protection from foreign competition at home com-bined with a relatively large domestic market has made Thai companies com-fortable in the domestic market, espe-cially compared with their counterparts inSingaporeorMalaysia.Thaifirmshavemostly sought to grow via diversificationinto other industries at home rather than expanding abroad.

But increased competition abroad result-ing from growing globalisation and region-

tional expansion to upgrade their position in the value chain of their industries, and/ortoincreaseefficiencyanddiversifyrisk.

ThesignificantgrowthinThai investmentin Australia in recent years has largely been on the back of a number of high-value energy investments.

alisation is changing the mindset. Now Thai companies are recognising that a global presence is desirable and within their reach. This is mostly manifested in an expansion initially into ASEAN mar-kets, but more global exceptions exist with companies that do not simply seek cost advantages but want to use interna-

BUSINESS BRIEF

Minor International acquired Oaks Hotels & Resorts Ltd in July 2011.

Mitr Phol Sugar acquired Queensland company MSF Sugar Limited for A$ 313 million in 2012.


PTT Exploration and Production Public Company Limited (PTTEP) acquired 100 per cent of Coogee Resources Limited (now PTTEP Australasia) in 2009. PTTEP Aus-tralasia is currently developing the Montara field intheTimorSeaaswellasadditionaloil and gas exploration permits in Western Australia with approximately 37 million bar-relsofoilreservesfromthesefields.

Banpu Public Company Limited acquired New South Wales-based Centennial Coal in November 2010 for A$ 2.5 billion as part of a strategy to increase growth and diversify its geographic base. Centennial Coal con-trols ten coal mines in the Hunter Valley and Lithgrow regions of NSW. Half of Banpu Group’s coal reserves (381 million tonnes out of 683 million tonnes) and over half its coal resources are located in Australia.

In 2012, Ratchaburi Electricity Gener-ating Holding Public Company Limited acquired an 80 per cent stake in Trans-field Services Infrastructure (TSI) Fund,which was renamed RATCH Australia Corporation Limited. RATCH holds three Australian wind farms and four thermal power plants. RATCH plans to spend AUD$ 1 billion in the next three years buying power plants and building wind farms, aiming at staying in step with Aus-tralia’s future energy policies, especially in renewable energy.

Most recently in July 2013 Electricity Gen-erating Company Limited (EGCO), Thai-land’sfirst IndependentPowerProducer,acquired Boco Rock wind farm in NSW for A$ 112 million. Thai companies have alsomadesomesignificantinvestmentsinother sectors in Australia.

Mitr Phol Sugar, the world’s fifth-largestsugar producer and the largest producer in Asia, acquired Queensland company MSF Sugar Limited for A$ 313 million in 2012. MSF Sugar is Australia’s third-largest milling group by annual crush-ing capacity of 4.7 million tons of cane. It owns four sugar mills, including three in far north Queensland and a fourth at Maryborough.

In the tourism and hospitality sector, a number of Thai property and hotel com-panies have existing investments in Aus-tralian tourism infrastructure. TCC Hotels Group acquired three hotels in 2008-2009 namely, Novotel Rockford Sydney, Hyatt Hotel Canberra, and Intercontinen-tal Adelaide. In addition, as a result of the acquisition of Singapore-based Fraser and Neave in 2013, the TCC Group’s presence in the hotel sector is likely to fur-ther expand. Minor International acquired Oaks Hotels & Resorts Ltd in July 2011. Oaks own 39 properties with a total of 4,300 rooms in Australia, New Zealand and Dubai. Another Thai hotel company, Amora Group, operates the two Amora branded hotels in Sydney and Melbourne.

In the automotive sector, three Thai com-panies (Carryboy International, Aeroklas and Sammitr Motors Manufacturing) have established sales, distribution and assem-bly facilities in Australia. Sammitr Motors has also established a research and

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development centre in Melbourne in col-laboration with the Cooperative Research Centre for Advanced Automotive Technol-ogy (AutoCRC).

With the Thailand Board of Investment (BOI) now promoting Thai investment in foreign markets, and the growing globali-sation of Thai corporations, the trajectory of growth of Thai FDI abroad is expected to continue. In Australia this is likely to be in tourism infrastructure, resources and energy, and food and the agribusiness sec-tors. This investment is unlikely to approach the levels of the US, UK, Japan and Singa-pore, but as new major investments occur it might make Australians more aware that ASEAN’s second biggest economy is start-ingtoflexitsconsiderableeconomicpoweron the international stage.

This article has been contributed by Greg Wallis, Senior Trade Commissioner for Austrade Thailand. The Australian Trade Commission – Austrade – is the Australian Government’s trade, investment and education promotion agency. Through a global network of offices, Austrade assists Australian companies to grow their international business, attracts productive foreign direct investment into Australia and promotes Australia’s education sector internationally.

More information can be found at:www.austrade.gov.au

The significant growth in Thai investment in Australia in recent years has largely been on the back of a number of high-value energy investments.


Mergers & Acquisitions: Key Strategies for Managing Your Company’s People During Change

BUSINESS BRIEF

Mergers and acquisitions are common occurrences in any economic environment. Whether

the markets are up or down, or the deals are friendly or hostile, M&A can be a key element of your company’s strategy to create additional value and maximise sus-tainable competitive advantage.

A number of factors – including strong corporate balance sheets, cash-rich com-panies looking to consolidate their indus-try positions, and low interest rates that allow for greater leverage – are driving high levels of M&A activity in today’s mar-ketplace.

M&A is here to stay

Every company and working professional should expect to be involved in a merger or acquisition at some point in time. This is especially true for individuals based in North America, where deal activity annu-ally outpaces the rest of the world in terms of volume and size.

However, despite the potential downsides and general uncertainty typically asso-ciated with mergers and acquisitions, this shouldn’t necessarily be cause for concern. Well-conceived and executed transactions can dramatically alter the competitive landscape, giving companies a sudden and distinct advantage over their rivals. Smart deals also allow compa-nies to rapidly accelerate their growth and development in ways they often could not have achieved by organic means alone.

At the same time – even assuming the per-fectconfluenceofelements–thesuccessor failure of a particular deal ultimately lies with the implementation. Combining prod-uct and service lines, employees, func-tions, locations and brands are but a few of the challenges that must be overcome to realize a transaction’s full potential.

Each of these potential integration stum-bling blocks raises important human

among employees and customers – your company’s most valuable assets. Employ-ees will be justifiably concerned aboutjob stability. This is certainly true for var-ious functional areas including market-ing, legal, human resources, accounting and finance departments where thereare likely to be talent overlaps. Addition-ally, customers will be on alert to potential changes in product/service offerings or pricing. Depending on the degree of inter-action between employees and custom-ers,thiscanposeasignificantrisk.

Is your company an acquisition target?

First, understand if your company is a potential acquirer or acquisition target.

capital issues that must be addressed – from the announcement day through to the formal close of the transaction and beyond. The marketing, legal, human resources, accounting and financedepartments are certainly no exception and will each have their own set of inte-gration issues to manage.

As such, Lee Hecht Harrison developed the following recommendations to help business leaders better prepare for and manage through a merger or acquisition.

Be prepared

One of the primary issues to overcome is the uncertainty created, particularly


BUSINESS BRIEF

Review public documents and statements by senior management. If the company is publicly traded, read earnings releases, securities analysts’ reports and the annual, half yearly and quarterly reports.

Also, study the industry at large. Where are the new growth avenues? How are customer demands evolving? What are your competitors doing to adapt? Under-standing the underlying economic and competitive drivers will help you under-stand whether your company might see strategic value in a merger or acquisition of some kind.

Whether a potential acquirer or acquisition target, list the rationale or “why?” behind the deal. Some of the most common reasons companies become involved in M&A include creating synergies, increas-ing market share, vertical integration and geographic expansion.

Should a deal ever occur, answering these questions will help you understand the underlying factors for both the buyer and the seller, as well as the rationale for the combined entity in terms of creating value. It also will allow you to make an informed projection as to the potential impact on the company as a whole.

Preparing yourself mentally for several dif-ferent scenarios will lessen the element of surprise upon learning of a merger or acquisition. This is a critical head start. Employees tend to react poorly to sur-prise, which can be disastrous for the organisation. Distinguish yourself by get-ting ready to move quickly and with cer-tainty to help the combined entity realise the full promise of an M&A.

Create standby plans

While you may not receive advance notice of a merger or acquisition – given theconfidentiality involved– thisdoesn’tmean you will be completely unprepared. Regardless of whether your company is the acquirer or the acquired, there is a fairly standard set of steps necessary to complete a deal and begin the integration.

Address all constituents

In almost every case – despite rampant use of the term “merger” – one company is typically dominant and the other sub-ordinate. Since deals aren’t legally con-

summated until the formal close, both companies need to prepare communi-cations plans for the announcement day through the pre-close period. Acquiring companies will need plans that extend further to include the deal close and the beginning of the integration. Among the primary, core audiences for your company to address through M&A communications plans are seniormanagers, rank-and-fileemployees, customers, shareholders, partner companies and key suppliers.

Begin by drawing up a list of appropri-ate company spokespeople for each audience and list the preferred commu-nications channels to reach each audi-ence. Then, create a simulated calendar of activities beginning with the day of the announcement and continuing approxi-mately 90 days to a proposed close date.

Staff communication is key

Of course, until the deal closes, there is very little a company can share about specific plans for the integration. Com-pensate by increasing the frequency of communications–specificallytoemploy-ees – on issues large and small. By nature, accounting and finance departmentscommunicate throughout the day on a range of issues. Capitalise on that internal traffic by providing small butmeaningfulreassurances to employees at each level.

Designing an “inside-out” approach to communications that starts with employ-ees will begin to temper some of the uneasiness caused by the deal announce-ment. At the same time, such a campaign will provide employees with key mes-sages to amplify and extend to external audiences.

Identify key assets

Deals announced to great fanfare that create high expectations among core audiences often wind up actually nega-tively impacting the value created inde-pendently by the two companies. Key metrics such as stock price, return on equity and return on assets commonly lag below pre-announcement levels long after the deal is completed.

Merger failure

What’s the cause? For one, integrating two companies takes resources away from day-to-day operations. Second, the upheaval caused by mergers and acquisi-tionscreatesproblemsspecifically in theareas of employee retention and customer attrition. Finally, and somewhat incred-ibly, acquiring companies often conduct poor or incomplete due diligence. As a result,companiescanfindthemselvestheowner of something quite different than expected.


Job number one during the pre-close period is to avert any disruption that might cause the other party to re-eval-uate the initial terms of the deal or scut-tle the agreement completely. If one or both companies are publicly traded, this applies to the shareholder base(s), which can actively oppose a deal.

Preserve your top performers

From a human capital perspective, every good manager can instantly cite a list of productive and prized employees. Com-pile that information to identify valuable individuals across the entireorganisation.

Clearly establish what assets need and deserve “protection” during the pre-close period and integration process. Create formal action plans to secure critical employees and customer relationships. Establish formal and informal channels to collect feedback. As much as possible, eliminate unnecessary distractions. And finally,aggressivelyworktomaintainpro-ductivity at all levels.

Focus on the integration

Agreeing to terms on a mutually accept-abledeal isadifficultanddauntingtask.The urge to “relax” once the terms are agreed upon must be resisted. Actually melding operations and corporate cul-tures is where theory meets practice and the hard work begins.

The big picture is key, but don’t lose sight of critical business tasks.

Mergers often fail not because of faulty visionorabadfit,butpoorcommunica-tion and execution. The integration effort diverts resources and attention from key day-to-day activities like financial plan-ning, budgeting and month-end close – all of which must continue seamlessly. In addition to regular duties, employees are tasked with new projects and other activi-ties related to the effort.

Before beginning the process, it’s impor-tant to recognise that no two companies are alike. Different organisations have dif-ferent processes and protocols that have evolvedovertimeandworkspecificallyforthem. Two companies that, from all out-ward appearances seem alike, may not even share the same perspective on the marketplace!

Aligning corporate cultures

Start by identifying the primary obstacles to integrating the companies and realis-ing the full value of the combination. For the accounting and finance department,documentation maintained on internal processes and controls for corporate gov-ernance purposes can serve as a useful tool for the re-engineering of functions and employees.

From a cultural perspective, put your knowledge of your own company – both the good and the not so good – to pro-ductive use. From the first interactions,take notes on the substantive differences in the two companies’ outlook, processes and styles. Be agnostic when evaluating best practices. In particular, resist wher-ever possible simply adopting the pro-cesses of the dominant company.

Communicate (relentlessly)

Tensions among senior management and employees on both sides will run high from the outset. Since eliminating redun-dancies provides immediate cost savings, those most at risk following a merger include employees working in duplicated roles and those whose value to the organ-isation isn’t immediately apparent. Organ-isational changes, major and minor, are certain.

During the pre-close phase it’s important to constantly communicate to internal audiences, even when there is little “new” information to report. Leaving a commu-nications void in such an environment will only increase the sense of uneasiness among employees and allow negativity to creep in.

Asmentioned, once the deal isfinalised,the senior management team must be fully invested in making the new venture work.Thefirstchallengeforthecombinedentity is to mesh the communication style of the two companies. While specificdetails of the integration are under con-sideration, begin to communicate – in one voice – the process by which decisions will be made.

Energize and motivate your new staff

In advance of the reorganisation announcement, utilize key managers to assess mood and morale. Prepare answers

to the tough questions so employees understand how the management team arrived at its conclusions. In the event job cuts are necessary, make them swift. Following the announcement, schedule presentations by senior management to all remaining employees on the specificplans for the combined entity to compete in the marketplace.

Typically, there’s a strong sense of relief among the remaining employees that can beenergising. An effective communica-tions program can help generate momen-tum among employees moving forward.

Proactive management is your best tool

Mergers and acquisitions are a common occurrence, presenting companies large and small with uncommon challenges. Aside from the operational aspects of combining the assets of two companies, therearesignificanthumancapitalissuesto address – beginning with the initial announcement, all the way through the integration.

Complicating matters are the personal and professional uncertainties individu-als face during such a deal – from senior management to rank-and-file employ-ees. In order to realise the full potential of a deal, your company must anticipate and actively manage these issues at every step.

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BUSINESS BRIEF


NEWS AND UPDATES

Auto manufacturers based in Thai-land are continuing to boost pro-duction capacity, with ground

being broken for a series of new plants and expansions to existing facilities. How-ever, there are some concerns that both domestic and export sales may ease later in the year due to expected economic cooling at home and abroad.

The automotive sector’s contribution to the Thai economy represents around 12 per cent of GDP, making it Thailand’s third largest industry, and one of its largest employers, providing some 400,000 jobs. Unlike some of its regional rivals, Thai-land’s automotive sector is fed by its own stream of parts, with locally manufactured components representing around 80 per cent of production input. The parts sub-sectoralsorepresentsasignificantexportearner in its own right, generating revenue of US$ 5 billion in 2012, adding to vehicle exports of more than US$ 20 billion.

HavingbrieflybeenusurpedbyIndonesiaas South-east Asia’s largest automotive marketin2011duetofloodingthatyear,Thailand returned to the top position in 2012, with sales of just over 1.44 million vehicles. This, combined with exports of a further one million, took total produc-tion for the year to 2.45m, a figure theindustry looks set to overtake in 2013, with output as of the end of May running to 1.123 million units, well over twice the 488,000 vehicles that rolled out of Indo-nesia’sfactoriesinthefirstfivemonthsofthe year.

According to data issued by the Federa-tion of Thai Industries in June, automotive exports for May were just over 86,500, a 28 per cent increase month-on-month, while overall shipments for the January to May period were up 21 per cent, to 438,000. Local demand has also been accelerat-ing, in part due to a strong recovery from the 2011 flooding, fostered by a govern-ment support scheme offering tax rebates tofirst-timecarbuyers,whichhelpedpostdomestic sales by 80 per cent in 2012.

Rising domestic demand and higher over-seas sales have prompted a number of leading manufacturers to invest in capac-ity, with Japanese producers Mazda and Honda both building new facilities. Honda has started construction of a plant at the Rojana Industrial Park in Prachinburi prov-ince, which when operational in 2015 will add 120,000 units to the firm’s existingproduction capacity of 280,000. The com-pany is also expanding its existing factory in Ayutthaya with the aim of lifting total national output to 420,000 units by 2015. Not to be outdone, Mazda is in the process of building a plant to produce auto trans-missions, with the US$ 257 million factory located in the province of Chonburi.

US manufacturer Ford is another com-pany looking to boost its Thai output, having announced plans to expand its existing plant, a US$ 450 million factory that opened last year with a capacity of 150,000 units, up to 450,000. The firststage of this project, expected to come online this year or early 2014, will boost output to 200,000 units.

While manufacturers are increasing

capacity, there could be some challenges further down the road for the industry. Some experts are predicting a cooling of domestic demand, with the Thai economy widely expected to slow slightly. Though the Bank of Thailand still believes GDP could expand by 5.1 per cent this year, other agencies and analysts are taking a more conservative approach. The IMF has forecast growth of 4.75 per cent, while in early July the University of the Thai Cham-bers of Commerce predicted the econ-omy would increase within the range of four per cent to 4.5 per cent, down from its earlier estimates of 4.8 per cent to 5.2 per cent.

Slower growth in other regional markets could also see a tapering off of automotive exports, though like domestic demand, these could rebound in the new year as the global economy regains momentum, as forecast by the IMF in its latest world economic outlook report.

There is also some uncertainty over pro-posed changes to government’s indus-trial incentives, a policy that has to date benefitted the automotive sector. The

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NEWS AND UPDATES

state offers tax breaks to certain enter-prises to set up shop in designated indus-trial zones, with the geography-based support scheme favouring developments in areas well away from the capital. This policy has been successful in attracting investment to regions previously lacking in employment opportunities and indus-trial activity. However, the government is reportedly considering a change of focus, with incentives to be directed towards industries providing higher value-added goods and services.

While the automotive sector has been des-ignated as one of several that will be able to take advantage of the new programme, it is as yet unclear what form this support will take or whether it will be extended

to cover existing investments. Govern-ment incentives may become increasingly important to Thailand’s auto industry, due to a growing shortage of skilled labour, which has pushed up wages and made it difficulttostaffproductionlines.

Though most forecasts predict Thai domestic auto sales to increase or at least maintain last year’s levels, it is unlikely there will be the sharp jump in vehicle numbers rolling off the lots as happened in 2012. Export rates too will depend on how well overseas markets cope with the level of economic cooling predicted by the IMF, though as the increased investments by manufacturers indicates, the Thai auto-motive industry is looking beyond the occasional bump in the road.

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Fresh legislation has paved the way for amajor shift inMyanmar’s financialsector, spearheaded by the separa-

tion of the central bank from the Ministry of Finance and Revenue.

The long-awaited Central Bank of Myan-mar (CBM) Law was signed by the presi-dent, Thein Sein, on 11 July. The legislation securesthebank’sautonomyandclarifiesits responsibilities. Widely seen as one of the key building blocks in the recent round of reforms, the law is set to radically shift thewaythefinancialsectorisregulatedinMyanmar, while providing potential inves-torswithaconfidenceboost.

ThefinancialsysteminMyanmarremainsone of the least developed in the world, with under 10 per cent of the population holding of a bank account and less than one citizen per 1000 active in the credit market. Both individuals and businesses have struggled to access capital from financial institutions for decades, due toacombinationofhighinflation,bankruns,insider lending and low capital bases. Attracting depositors back into the bank-ing system is regarded as one of the big-gest challenges Myanmar faces.

The New Light of Myanmar, which usually voices state thinking, highlighted the prob-lems that had plagued the old system when giving details of the new law. It cited “slow responses” and “bureaucratic sentiments”, adding that the central bank in its prior form was “most responsible for the current weak

New Era for Myanmar’s Financial Sectorbanking system” and “one of the main restric-tions for potential investors”.

Bodies such as the IMF had criticised the CBM for its lack of budgetary and opera-tional independence from the government of Myanmar, which permitted the state to print money tofinance itsdeficit.ThenewCBMLaw gives the central bank the authority and responsibility to implement monetary and exchange rate policies independently from the government. The institution is expected to act as a lender of last resort on rare occa-sions only, using its autonomous power to enact the policies needed to achieve its broader aims.

The primary objective of the central bank will betokeepinflationincheck,whilesustainingmonetaryandfiscalstability.Thenewbody,alone, holds the right to issue new currency. It has also been tasked with establishing a credit bureau that will gauge the creditwor-thiness of borrowers.

The law requires the CBM to regulate local banks, oversee the development of capi-talmarketsandmanage theofficial foreignexchange reserves, which are forecast to increase in the coming years on the back of rising gas exports. As reserves build up, confidenceinthelocalcurrency,theMyan-mar kyat, is expected to grow, with investors likely to eye the country more favourably. The responsibility for deciding how to achieve these goals will rest largely on the shoulders of the new CBM governor. The post looks settobefilledbyKyawKyawMaung,who

has been recommended by the presi-dent’soffice,withaformalannouncementlikely to be made in the coming weeks.

Kyaw Kyaw Maung, who graduated from Mandalay University before joining the ministryoffinance,hasalreadyservedasthe central bank governor, between 1997 and 2007. Under the new law, the role will be upgraded to ministerial level, giving the governor a responsibility which, until now, has been non-existent in Myanmar.

In line with international practice, the over-hauled central bank will be expected to adhere to a much stricter level of transpar-ency and accountability. Under the new law, the bank will be required to submit its reports on monetary affairs to the gov-ernment at least twice a year and publish reports on monetary developments quar-terly.The informationflowwillallowfinan-cial researchers and onlookers to assess risk more effectively and invest accordingly.

The complex systems of monetary policy and regulation required by a central bank takeyearsof fine-tuningandcanstill fallprey to the market forces around them, as western nations, whose bank regulations are built on decades of detailed analysis and data, know all too well.

Myanmar’s challenges, however, will be those faced by a country starting almost from scratch. As it steels itself for the gar-gantuan task ahead, the world and its investors will be watching closely.

NIST Celebrates Outstanding Results Achieved by Class of 2013

AustCham Bronze Corporate Sponsor: NIST

NIST’s graduating Class of 2013 achieved outstanding results, improv-ing on the strength of previous years.

Of 98 students the average score of candidates who passed the IB Diploma was 35, compared to the 34 point av-erage in 2012 and 33 point average in 2011. Additionally, 97 per cent of stu-dents from the Class of 2013 success-fully passed the IBDiploma, a signifi-cant improvement from the 85 per cent pass rate last year.

Notably two students, Jenny Hollo-way and Ritah Chumdermpadetsuk, received a perfect total score of 45 points, placing them in the top 0.25 per cent of candidates worldwide. In addi-tion, Emily Daykin and Marten Don-dorp achieved a near-perfect score of 44 points. In total, 16 members of NI-ST’s graduating Class of 2013 attained

marks of 40 points or higher, placing them in the top 6.6 per cent of the world.

Members of the Class of 2013 have re-ceived offers to study a great range of courses at the most respected and pres-tigious universities in the world, including

the University of Cambridge, Universi-ty of Oxford, Princeton University, UC Berkeley, Imperial College London, Uni-versity of Toronto, University of Penn-sylvania, New York University, Universi-ty of Hong Kong, University of Sydney, and Pennsylvania State University.



ABF Busts Myths about Business in Thailand!By Janna De Vos and Mark Carroll

AustCham’s first Australian Busi-ness Forum (ABF) turned ‘myth-busters’ as Simon Shale, General

Manager of Visy Packaging (Thailand) Ltd., and HE James Wise, the Aus-tralian Ambassador to the Kingdom of Thailand, took aim at two popular mis-conceptions about business in Thai-land.

Recalling the recent success of Visy’s operations in Thailand, Shale debunked the view held in some quarters that commercial success there is founded on cheap labour. He also backed strongly the view of Ambassador Wise that political instability in Thailand had not hampered business growth in any large-scale way, pointing to his own business as an example. Thai politics was played tough, but all sides were pro-business at the end of the day.

The ABF is a new Chamber initiative, supported by the Australian Govern-ment through its Asian Century Busi-ness Engagement Plan. Shale spoke first at the inaugural ABF luncheon inBangkok, rounding up as myth-buster number one. His opening salvo was to challenge perceptions that Thailand was simply a base for international business

to outsource sweatshop-style labour intensive production processes. The extraordinary success of Visy’s Thailand operations was due to technology and expertise, not labour price.

In fact, Visy has nearly doubled the size of its factory in Rayong, investing some 180 million Baht (A$ 6 million) in an extrusion blow moulding machine. This leading-edge technology is only the third of its type globally. It will allow Visy to produce up to a staggering 120 million plastic food jars. They are three-quarters the weight of existing prod-ucts. Such is the level of automation in Visy’s state of the art Thai facility that it employs just 70 staff locally.

Visy’s high-tech research and develop-mentremainsinAustralia.Expertsfly-inregularly to share their knowledge with locals who run the sophisticated Thai-land plant. This is a lynchpin of success according to Shale. It is a model that mixes the strengths of Thailand with the strengths of Australia – and produces something even more formidable.

On the myth that Thailand is simply a destination to off-shore Australian jobs, Shale landed a knock-out blow. He explained that most of the super-lightweight jars made in Thailand are for Visy’s major customer, Dole. As

wellasbeingfilled locally fordomesticconsumption, they are exported from ThailandforfillinginChinaandthePhil-ippines. As is the case for so many businesses in Thailand – both local and foreign – it is an ideal base for expand-ing into rapidly growing middle-income markets in Asia. So the off-shoring notion just doesn’t stack up. Coming to Thailand is about getting access to a much bigger market – in Visy’s case, reaching out to billions of customers.

The Ambassador’s overview of the polit-ical situation in Thailand focussed on three questions which commonly arise in Bangkok: Will there be political dis-turbances later in the year? Will there be an early election? Will there be a coup? His main conclusion was that for the next few years Thailand’s politics is likely to look a lot like the last two years. The government is well established and an early election is unlikely before amnesty legislation and some constitu-tional amendments are passed by the Parliament. The government may even run its full term (to mid-2015).

The Ambassador also reminded the largely business audience that all politi-cal parties in Thailand are pro-business and that Thailand’s political conflictsrarely manifest themselves in the work-place. The numbers provided the proof.



SignificanteconomicdownturnsinThai-land coincided with economic crises such as those that occurred in 1997-98 and 2008 – or natural disasters such as the2010floods–notpoliticalinstability.

Shale was quick to reinforce the Ambas-sador’s point. Having re-established in Thailand in 2009, Thai politics has had minimal impact on his business.

Visy’s success story in Asia, however, is notonewithouthardship.Visyfirsttriedto tap the Asian market in 1987. With an initial joint venture investment of over 400 million Baht (A$ 14 million), Visy’s

characteristically ambitious expecta-tions were not initially realised. The JV relationship soured. With pockets many million of Baht lighter, Visy took a hiatus from Asia until 2009. Twenty-odd years later it re-entered the Asian market, its new outlook and approach turning Visy into a remarkable regional success story.

Theimpressiveshiftfromfirst-timeflopto today’s success begs the ques-tion “what was different second time around?”. According to Shale, it is Visy’s improved understanding and apprecia-tion of the Asian business culture.

Herein lies a crucial message for Aus-tralian business, says Shale, “Thailand is not Australia”. Thai business culture is significantly different to Australianand Western business practices. For-eign businesses operating in the Asian market should not assume that they can simply carbon copy their Austral-ian business into an Asian country. They “have to learn to open their minds and embrace different business cultures”.

Shale implores Australian compa-nies to consider their business ideas in an Asian market context. Too often, he says, they limit their vision to Aus-tralia. “Asia is large, diverse and poten-tially very lucrative”. Within Asia Shale points to Thailand as having some nat-ural advantages. Its continued eco-nomic growth and expanding middle class means there is a substantial local customer base with dramatically increasing market-demand. Thailand’s central location in the Southeast Asian region also reduces logistics costs, and at the same time opens pathways to new business opportunities in the rapidly developing markets that sur-round Thailand.

Another advantage has been the Thai Board of Investment. It has been single-minded in its mission to smooth the way for foreign investors like Visy to estab-lish in Thailand. BOI service and support has been world-class.

Shale’s final message to Australiancompanies looking to establish in Thai-land is, “do your homework”. Like busi-ness anywhere, there must be a clearly identified customer and viable busi-nesscase.“Settargets,beflexibleandbe willing to adapt”. To grow the busi-ness once it is established, continue the cycle.

In the case of Visy, Shale says that to understand its Thailand success story it is important to consider Visy’s his-tory and corporate ethos. From modest beginnings in Melbourne, Australia, in 1948, it has become one of the world’s leading privately owned packaging, paper and recycling companies with an annual revenue of about 118 Bil-lion Baht (A$ 4 Billion). It is singly driven


in its vision “to be the leading pro-vider of recycling, paper and packag-ing products and services”. Visy aims to do this by “stepping out of its com-fort zone” and “not doing what every-one else does”. The business operates around a dynamic business model that fosters innovative, sustainable solutions for superior business returns. Company leaders take great pride in knowing their market and knowing their product. One of their favourite sayings is “if we do not value it, no one will value it”.

As for the millions of new plastic jars nowmade inThailand, they are a fineexample of a Visy product reflectingthe Visy corporate culture. What’s in a jar that weighs a quarter less than any-thing else on the market? For a start less material. Which means lower trans-port costs at all points in the supply chain. Less waste, less environmental impact, and less cost for consumers. This is what Visy means by its corpo-rate motto, “For a Better World”.

Of course it’s not all altruism. For Visy, business in Thailand is rewarding. And

that means profits are up! Well andtruly up.

The Australian Business Forum (ABF) is a new initiative of the Australian-Thai Chamber of Commerce. It is sup-

ported by funding from Austrade as part of the Asian Century Business Engagement Plan.

For more information please visit www.austchamthailand.com/abf.


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COMMUNITY SERVICES

voluntary English Teaching: The Greatest Gift is Time

By Belinda Skinner

Just over six years ago, I had the desire to take part in some form of community activity. Here I am in Thai-

land and can see that so many could ben-efitfromhelpandassistance,yetIwasata loss of what to do or how to go about it. Then I read in AustCham’s Advance mag-azine about the voluntary English teaching program that they ran.

Although extremely hesitant, I put my name down, even though I had absolutely no teaching experience whatsoever! Sat-urday morning came and I joined a group of about eight eager volunteers - both Thai and Farang. I had no idea what this was about – I was going in green!

During the trip down to Chonburi, Martin Kyle (the then Executive Director) says to me “Sorry Belinda, but we don’t have any experienced people here today, you have to lead a class” … What the? I was hor-rified,shocked,scared,bewildered–youname it – I was feeling it! Martin reassures me “Don’t worry here are some games and some activities – just go in and have fun with them!“ Oh boy, fear took over. I wasn’t a teacher, I don’t even have kids! These children were going to eat me alive!!

I walked in that door… and I was hooked! Six and a half years later, I’m still reli-giously travelling down to our schools in the Eastern Seaboard. In that time, I’ve rarely missed a month. I now run the pro-gram and also write some lesson plans. And yes, I hear myself telling some of the volunteers “Sorry xxx, but I need you to lead a class!” Oh the look on their faces is something I always remember well!

We have a wide variety of volunteers that join us – both Thai and Farang; some long timers and some new. Our big-gest problem is that we don’t have reg-ular people ,or a bigger list of interested people! We don’t ask for much; just relia-bility. If you say you will come along, then

youcome–noshowsareverydifficulttohandle and we really are letting the chil-dren down.

No experience is needed. Just some enthusiasm! It’s really easy…honestly!

We take care of three schools in Chon-buri and Rayong provinces. They are true upcountry schools. The students are from rubber plantation and farming fam-ilies. Our visits are only once a month so, in reality, we only visit them three to four times a year. This is very little to be able to support the English they learn in class! However, our aim is twofold. First is to encourage them to learn English, make it fun, and encourage them to keep going. The second is to give them interac-tion with foreigners and show them that Farang really aren’t scary! Here I am with very little Thai and here you are with little English – yet we are trying to communi-cate!

After doing it for so long, I wanted to know the opinions and views of other volun-teers.:

Mark Digby from Linfox was one of those poor unfortunate guys who joined us a couple of months ago and on arrival,

I thrust a lesson plan in his hand and informed him he had to lead a class! Low and behold – he came back, so I was curi-ous to find out why. His response was:“It’s rewarding and enjoyable and the chil-dren are so eager and keen to learn, and if they are prepared to give up their time on a Saturday then it’s the least I can do. My second session was more fun as I knew what to expect and may be a bit more relaxed. The louder the class the more fun the children were having but at the same time learning.”

Khun Kasemsri (Tai) who joined us quite some time ago, in the capacity of Aust-Cham public relations, enjoyed it and felt so good to be able to give back, that she kept coming back! She states “I always feel happy every time I join the English class sharing some English experience with the children. It is the fact that people do not want to get up early especially during weekend when they do not have to go to office, however, it’s just only once a month why not. Talking in English as much as possible with children is a great expe-rience they may not have much in their classrooms or their normal life”.

Josh Hyland from AEC and AustCham Director tells us “I seem to have noticed


COMMUNITY SERVICES

an increasing trend in simply donating cash to support communities. Whilst this is convenient – particularly with today’s fast-paced lifestyles – so much more is to be gained by the donor by getting involved with their project of their choice. There’s nothing much more satisfying than to teach the children skills they will need to use in the future, having a laugh with them and making new friends on the trip. Certainly worth giving up your Sat-urday.”

But what makes this special to people? Mark tells me “it’s the look on the chil-dren’s faces as the team exit the mini bus and the buzz from the children’s excite-ment”. For Khun Tai “It’s the enthusiasm of the students and their smiles to learn

attend! For Khun Tai, this is her best time. She shares with me that “I am always pleased seeing children participate, the way they answer questions in English as well as the way they help their friends who may not be good at English”. They love to help each other. If someone is strug-gling, they always offer assistance and the answer. No one feels ashamed and that is something we encourage. No one is ever wrong, we just try again. For me that is how I start thedayoff. I sit on the floorand ask each child their name and in my very poor Thai I repeat it. 99 per cent of the time I get it wrong and have the kids in fitsoflaughter.Thisismywayofshowingthem, don’t worry – just try! We are there for them to have fun. This was something Khun Tai was concerned and curious

about. How could we make it fun and get the kids to participate as this is not their usual style of learning. It’s certainly out of their comfort zone!

What surprised Mark was that it wasn’t structured or disciplined, however he soon learnt that this was the way the kids enjoyed themselves. That’s what we are here for. To make it fun and enjoyable! No one really knows what to expect when wefirstgoandeachoneofusgainsome-thing that money just can’t buy. For Josh, he explains that his experience with the kids is that they are so eager to learn and really give it their best. “They also love to laugh and want to make friends with their English teachers. At the end of the day when the children line up and thank the teachers, we have to say thank you back for their effort and for teaching us how to be grateful for all we have”.

To me personally, the kids don’t judge you. They don’t criticise you for your lack of teaching ability, they really enjoy the simple things. If you can make them laugh and have some fun, they think you are great. The kids are wonderful to work with, well behaved and so willing to help each other out. No one in that room judges another – not them, not us, nor their friends.

After a couple of hours of teaching, the classes gather together and we provide lunch that we have brought.. One mem-orable moment that Khun Tai shares is “I still recall the first time AustCham Thai-

English even though it’s their weekend. They always smile prior, during and after the two-hour-English class.”

The day is simple. We set off at 8.00am inaminivanfromtheAustChamoffice.Allare very quiet, sleepy and anxious bunch of people. In fact Mark states when I asked him about what he likes best, he couldn’t pinpoint one thing but he did joke that it was the “ten minutes of chat-ter that happens before everyone falls asleep”!

Once we arrive, everyone is divided up into the three classes and set off to play games and activities with a bunch of very eager kids. Remember that for these kids it is all voluntary. They don’t have to


AustCham Bronze Corporate Sponsor: CEVA

COMMUNITY SERVICES

land offered lunch with Au Bon Pain sand-wiches for the students and we asked questions with those words related to food. However, it looked like they did not enjoy the menu. Probably they were not used to having a Western menu. When AustCham changed the lunch to sticky rice with fried pork it seems everyone enjoyed the menu.”

Afterwards, everyone boards back into the van… and boy is it a VERY different atmosphere!! There is a huge amount of chatter and excitement, comparing what funny incidences happened with the kids etc. People are on a natural high. We start the journey back to Bangkok. However we reward the hardwork from our volun-teers by stopping for a seafood lunch. After lunch everyone piles back into the van for the journey back… silence! As you look around the van, everyone has gone to sleep!! It’s been a tiring day. A couple of hours of full energy and a full belly makes for a bunch of happy people!

We would really love for you, or anyone you know to come and join us and see for yourselves (it is not necessary to be an AustCham member). It’s a very rewarding experience, one which you won’t regret!

Mark shares his concern: “I recall Belinda saying about the challenges of keeping the teaching program going; it would be great a shame if it were to stop as the children get so much from the teaching.

If there is anything I can do to support the program further please let me know”.

This is true, I would also hate to see this program die, the kids get so much from it, albeit what we provide is so small!

I welcome anyone that wants to come along. We are looking for people with some energy and enthusiasm. We need people who will commit. We’re not expecting everyone every month but a couple of times would be great! One dis-couraging thing for me is we have lim-ited numbers we can take for a couple of reasons. Firstly, there is limited space in the van, and the second is we only have three classes. If we have too many vol-unteers per class there is limited oppor-tunity to interact and feel your time was worthwhile. We want you to have fun too! With that in mind, when you do say you will come – please do show up! Not only are your other volunteers relying on you …. But so are the kids!


Knowing Australia: The Challenge for Thai Students

In celebration of its 30th anniversary and also as a part of its objective to develop Thai education and society, the Thai-

Australian Technology Service Center (TATSC), founded in 1983 by a group of graduates from Australian Universities, in collaboration with the Australian Edu-cation International (AEI), the Australian Trade Commission (AUSTRADE) of the Australian Embassy and the Australian-Thai Chamber of Commerce (AustCham Thailand), organised ‘Knowing Australia: The Challenge’, a trivia English quiz for students from 30 select and leading schools in Thailand. The Quiz questions related to Australia’s history, culture, tour-ism, education, geography and sports.

During the final round, organised atMahanakorn University of Technology, contestants were asked 15 questions. Four teams from different schools competed including Suankularb Wittayalai Nonthaburi School, Prasarnmit Secondary Demonstration School, Horwang School and Mahidol Witthayanusorn School. The winners were Nawawan Panburana and Pongpeera Jirakitthirapat, of mattayom six (year six) from Horwang School, Bangkok.

The winners received return air tickets sponsored by Qantas Airways to visit several leading institutions and interesting places in Sydney, Australia for a week. All other expenses in Australia will be covered by TATSC. The winners and runner-up contestants were also presented with Blackmores products.

Congratulations to everyone who participated and especially to the winners!

AuSTRALIAnALuMnI

How would you have rated? Here is a small sample of the questions asked:

How do you think you would have fared with the Australian trivia challenge?

1. Who is Sydney airport named after?2. What was Tasmania originally called?3. What does Qantas stand for?


CHAMBER EVENTS

Eastern Seaboard Sundowners

Eastern Seaboard Sundowners this month was hosted by AustCham and held in conjunction with the American Chamber Of Commerce In Thailand (AMCHAM), the British Chamber of Commerce Thailand (BCCT), the New Zealand Thai Chamber of Commerce (NZTCC) and the South African-Thai Chamber of Commerce (SATCC). Held at Cape Dara Resort Pattaya, our venue sponsor, guests enjoyed a lovely evening of networking in the five star resort set amid lush natural surroundings including its own private beach. A special thank you also to our corporate sponsor for the evening, Asian Development Bank, who helped make the evening possible.

Friday 13 september 2013 at Cape dara resort Pattaya

AustCham Silver Corporate Sponsor: SINGAPORE AIRLINES


CHAMBER EVENTS

Bangkok Sundowners Wednesday 4 september 2013 at royal orchid sheraton hotel and towers, Bangkok

This month’s Sundowners was hosted in the beautifully scenic ‘Sambal Bar’ at Royal Orchid Sheraton. Located on the Chao Phraya River, guests were treated to exquisite river views while engaging in our monthly networking event. Thank you to Royal Orchid, our venue sponsor, for treating guests with their famed Thai hospitality and wonderful catering. A very special thank you also to our corporate sponsor for the evening, Akara Resources, for making the evening possible.

1) Leigh Scott-Kemmis, DBM (Thailand), AustCham President; Regina Wilson, Royal Orchid Sheraton Hotel and Towers; Belinda Skinner, TopTalentAsia, AustCham Vice President, Australian Ambassador to Thailand HE Mr James Wise; John Falconer, Akara Resources Public Company Limited. 2) Philippe Dacquet, SmartSoftAsia; Shane Burt, CEVA Logistics; Ben Giles, Australian Trade Commission. 3) Liyuan Deckert, Karisma Industry (Asia Pacific); Andrew Gray, CETA; Mark Jayasinghe, BDO Advisory. 4) Gerry C.Healy, Raimon Land; Christian Schulz,Designer Bathware; Simon Bonython, SMC Power Public Company Limited; Aidan Stretch, SMC Power Public Company Limited. 5) Travis Bennett, Juslaws & Consult; Merle Mekelburg, Royal Orchid Sheraton Hotel and Towers; Dan Halloran, AEC South East Asia; Tim Jackson, Australian Embassy; Josh Hyland, AEC South East Asia, AustCham Director. 6) Surasak Chantaroton, Oriental Residence; Kwanchanok Paothongjeen,

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CHAMBER EVENTSCHAMBER EVENTS

Ku De Ta (Thailand); Sirisopa Tanbunpherm, Ku De Ta (Thailand); Adrian Chua, Oriental Residence. 7)Peetachai Dejkraisak, Jasberry; ML Laksasubha Kridakon, Baan Laksasubha, AustCham Vice President; Abhasiri Chutikul, Baan Laksasubha; Apilux Huvanandana, Jasberry. 8) Roatchana Sungthong, The CSR Asia Center at AIT; John Falconer, Akara Resources Public Company Limited; Clelia Daniel, The CSR Asia Center at AIT. 9) nutthacha Gategrut, TopTalentAsia; Belinda Skinner, TopTalentAsia, AustCham Vice President; Krisana Yentragool, TopTalentAsia. 10) Peter Lucas, Park Plaza Bangkok Soi 18; Sophie Israsena na Ayudhya-Bughin, The Beaumont Partnership; Faun Israsena na Ayudhya. 11) Kris Snidvongs, Asian Tigers Mobility; David De Vos, Asian Tigers Mobitility; Russell Pang, CEVA Logistics. 12) Michael Grisaffi, United Relocation; Koollanaree Poolpol, Zestcreative; Eddy Bellavoine, Safecoms Network Security Consulting.

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PHACHARA SUITES special offer for austCham member at Phachara suitesfive per cent off best available rate

Rate includes:• Welcomerefreshmentsincluding

coffee, tea and bottled drinking water in the room

• Complimentaryunlimitedinternetaccess

• Useofleisurefacilitiesincludingtuk-tuk shuttle

Terms and Conditions:• RatesarequotedinThaiBaht• Allratesareinclusiveoffivepercent

service charge and seven per cent VAT• Allratesarepayableinlocalcurrency• Check-intimeisafter14:00and

check-out time is by 12:00 noon

Offer valid until: 31 October 2013Call: +662 262 9901Email: [email protected]: www.phacharasuites.com

KUTA ECOSTAY BALI

accommodation in Kuta Bali indonesiaspecial Kuta ecostay offer only to austCham members

15 per cent off best available room rates at Kuta EcoStay guesthouse in the heart of Kuta Bali; that means A$ 25 per night!

Hotel style accommodation with modern facilities; just 500 metres to the main entrance of famous Kuta beach;forgetthecar,forgetthetraffic;restaurants, beach, shopping and night life all within walking distance.

Terms:Offer valid until 15 December 2013Rooms to be booked direct via email below referring to this AustCham special offerValid for stays of three nights or moreEmail: [email protected]: +62 813 3867 0133Website: www.kutaecostay.com

member offers - accommodation

AUSTCHAM MEMBERS

In a world of volatility, our ability to manage risk gives business the reassurance it needs to invest and grow, and makes it possible for things to happen.

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allianz ayudhya assurance Public Company limited6th Floor Ploenchit Tower898 Ploenchit Road, LumpiniPathumwan, Bangkok, 10330 ThailandPhone: +662 305 7000Fax: +662 305 7999 ext 8127Website: www.azay.co.th

Representative:Bryan Smith, President and CEO

Company Profile:Allianz Ayudhya Assurance Pcl. (AZAY) was established in 1951. With 62 years of experience and a partnership with the Germantopfinancialinstitute,AllianzGroupand Bank of Ayudhya Group, the Company has become the largest Thai-German life insurance company with more than 1.4 million policies under the attentive care of 12 service centers and more than 267 agencyofficesnationwide.

Products and Services: Life Insurance products

holiday inn Bangkok sukhumvit 221 Sukhumvit 22, KlongtonKlongtoey, Bangkok, 10110 ThailandPhone: +66 2 683 4888Fax: +66 2 683 4777Email: [email protected]: www.holidayinn.com/bangkok22

Representatives:Piyalak Penkunaporn, Director of Sales & MarketingSupenporn Guntivanich,Sales & Marketing Coordinator

Company Profile:Holiday Inn Bangkok Sukhumvit 22 brings to Bangkok 300 stylish new guest rooms and suites in one of the city’s most vibrant and convenient locations. The distinctive 29-storey tower on Sukhumvit Road at Soi 22 stands between Phrom Phong BTS skytrain station and the Asok skytrain/Sukhumvit underground interchange, both only a short walk away. Also within walking distance, public transport or a taxi ride away are the city’s largest shopping centres and foremost cultural points of interest, as well as Bangkok’s main business and entertainment districts. For outdoor relaxation and activities, nearby Benjasiri Park offers a peaceful urban haven right in the middle of Bangkok.

the royal Bank of scotland n.V., Bangkok Branch3-4 Floor, Bangkok City Tower179/3 South Sathorn RoadBangkok 10120 ThailandPhone: + 662 679 5900Fax: +662 679 5905Website: www.rbs.com

Representatives:Charly Madan,Country Executive and International BankingEkapoj Tunsarawiphut, Vice President - Network Client Coverage

Company Profile:The RBS Group is a large international bankingandfinancialservicescompanyserving over 30 million customers across the United Kingdom, Europe, the Middle East, the Americas and Asia.

In Thailand, RBS operates through its Markets and International Banking (M&IB) business, which provides industry leading products and services to local and multi-nationalcorporates,financialinstitutions,government and public sector clients. Committed to serving clients’ needs internationally, RBS’s M&IB business has on-the-ground operations in 38 countries globally including 11 markets across Asia Pacific.

RBS was established in Thailand since 1993anddeliverstoclientsfixedincome,foreignexchange,debtfinancing,transaction services and risk management solutions as well as its Markets business on currencies, rates, credits and e-commerce.

RBS remains committed on long-term client relationships and in delivering excellent in product execution underpinned by global insight, local knowledge and a prudent and sustainable banking model to its clients in Thailand.

Products and Services:-Internationaldebtfinancing- Risk management - Fixed income, FX - Investor Products - Transaction services - Cash Management - Trade Services - Supply Chain Financing

hard rock Cafe Bangkok424/1, 424/3-6 Siam Square Soi 11Phayathai Road, PathumwanPathumwan, Bangkok,10330 ThailandPhone: +662 658 4090-3Fax: +662 254 0832Email: [email protected]: www.hardrock.com

Representatives:Nualprang VarongkriengkraiAssistant Events & Marketing ManagerPin AviruttapongPublic Relations and Marketing

Company Profile:Hard Rock Cafe Bangkok is ideally located in the heart of Siam Square, near great shopping and offering a convenient destination for both local fans and travellers.

“One night in Bangkok, and the world’s your oyster!” As 80’s band Murray Head sang, Bangkok delivers a rockin’ great time

AUSTCHAM MEMBERS

austCham Welcomes new members


AUSTCHAM MEMBERS

like no other. If you like the nightlife and like toboogie-oogieonthediscodancefloor,have we got a place for you! The Hard Rock Cafe Bangkok—where good times are only as far away as your next electric slide step. Capital of the big Kingdom of Thailand and capital of even bigger fun, you’ll be larger than Buddha with happiness when gazing upon our walls of hallowed memorabilia with a drink or two in hand. Everybody have fun tonight, everybody Wang Chung! Party on, Bangkok! Make the world YOUR oyster at the Hard Rock Cafe Bangkok.

Products and Services: Hard Rock Cafe Bangkok creates kick-ass menus for even the most discerning tastes! We impress rock stars with incredible backstage culinary delights. Menus offer out-of-this world hamburgers, veggie burgers and famous BBQ ribs, giant sandwiches including the popular sandwich, grilled fajitas, homemade nachos and a variety of mouthwatering desserts.

Hard Rock Cafe Bangkok is more than just a cafe. From an intimate unplugged meeting to a full-blown production, Hard Rock’s unique and comprehensive resources allow you to execute corporate meetings and events, convention receptions, incentive rewards, Networking Receptions, Milestone Celebrations, Meet and Greets, Birthdays or even a rockin’ wedding.

Hard Rock is renowned for its authentic collection of collectible and fashionable merchandise. While our logo t-shirts are the best selling t-shirts of all time, we have a broad scope of apparel, glassware, drumsticks and pins that can be co-branded. With meetings and events, there’snobetterwaytodefinethemomentand bring people together for a common cause.

It’s time to give your group the VIP experience!

mr Christopher larkin, ClC asiaL26 Capital Tower, All Seasons PlaceWireless Road, LumpiniBangkok, 10330 ThailandPhone: +6681 866 1002Email: [email protected]

Individual Profile: Chris is the founder of CLC Asia. CLC Asia provides Government Relations services as well as political and market intelligence.

He has over 13 years’ experience working for both government and private sector clients in Asia, Australia and the UK. His previous experience includes working as a privatization and regulatory advisor for the Thai Ministry of Finance.

After beginning his career in Australia, Chris moved to Thailand where he became an internal advisor to the Thai government on privatisation and economic regulatory policy, working on the privatisations of PTT and Airports of Thailand, as well as working with a variety of State Owned Enterprises. Since moving to the private sector, Chris has advised a number of private sector clients on M&A, Investor Relations market entry, policy and political risk issues.

Chris has an Honours degree in Economics and a Masters of Public Policy and Management from Monash University, Australia, as well as having completed a Minerals Economics course from the University of Melbourne. He is based in Bangkok, the geographical heart of emerging Asia.

ChrisisfluentinThaiandEnglishandhasdual Australian and Thai citizenship. He is married with two children.Australian Link: Australian Nationality

mr Peter him, Conservenergy Pty ltd665 Lygon Street, Carlton NorthVictoria, Australia 3054Phone: +61 448 533 282Email: [email protected]

Individual Profile: Peter has over 20 years’ experience in sales and marketing of technical products and professional services together with strategic stakeholder management experience in complex and cross cultural organisational environments.

Extensive business development experience across sectors such as:- Mining- Energy and Utilities- Manufacturing- Telecommunications- Government- Consulting- ICT

Core competencies include:• Highlydevelopedcommercialacumen

and negotiation skills

• Provensuccessindevelopingsalesplans and account strategies

• Adeptatdevelopingclientrelationshipsand stakeholder management

• Building,leadingandmanaginghighperformance teams

• Extensiveexperienceinplanningandmanaging large and complex proposals and Tender responses

• Demonstratedabilitiesinturningpoorperforming business groups around

• Coachingandmentoringstaff-providingguidance, direction and support

Change of representative

• MrWilliamChea,Partner–IndirectTaxis a new representative of Ernst & Young Corporate Services Limited

• MrChrisVanderMerweisanewrepresentative of Futuris Automotive (Thailand) Co., Ltd

• MrSamMcMahon,VicePresidentCommercial & Finance Thailand is a new representative of NS BlueScope (Thailand) Limited

• MrSomkiatPintatham,Presidentisanew representative of NS BlueScope (Thailand) Limited

Change of Company name/address

• Caswell&AssociatesPtyLtdhavechanged their company name to Caswell/MMT Nominees Pty Ltd

Suite 5, 578-580 Railway Parade, Hurstville, New South Wales 2220 Australia

Phone: +612 9930 6100 Fax: +612 9580 6277• LimcharoenHughes&GlanvillePhuket

Co., Ltd have changed their company name to Limcharoen (Bangkok) Co., Ltd

Change of Company address

• JarrettLloydCompanyLimited 800 Unit A, Sukhumvit 71 Road,

Klongton-Nua Sub-District, Wattana District, Bangkok 10110

Phone: +66 2 392 4187


values – Australian values of egalitarian-ism and multi-culturalism. We are fore-most Australian-Thai, but we encourage members from all areas of business and the world.

In the AustCham office we are alwayslooking for ways to better serve mem-bers. An area where I think we can do more is business-to-business. Our broad and diverse membership means there is considerable potential for promot-ing goods and services. We have a few platforms already in place to enable that, such as Member News and Member Offers section of the website home page. I’d like to give those a boost. I’d also like to consider a new event format that is unashamedly B2B. We would need to carefully differentiate a B2B format from our knowledge events (e.g. Boardroom Briefs, Luncheon Addresses etc.). But I think that can be done.

Great I hear you say. Do it!

The challenge, as always, is resources. Most members see the Chamber through the window of the activity they are most interested. Sundowners, for example. Sometimes it’s not apparent that in fact there are many windows into AustCham. When you stand back and look through them all, it becomes apparent that we are actually very busy. We are operating at full capacity. We’ve already delivered some 47 events this year. And we do a lot more than just events.

You can help us increase our resources and thus our ability to deliver value back to you. We’ve just re-introduced our member-gets-member reward scheme. We will credit Baht 2,000 to your Aust-Cham account if you refer a new member. Help us help you by promoting AustCham membership!

Mark CarrollExecutive Director, AustCham Thailandwww.austchamthailand.com

A constant refrain during my 15 plus years as a public servant was the word ‘taxpayer’. As an employee the institu-

tion that is the Australian Government, that was who I ultimately worked for. Taxpayer’s collective interests and collective values (as represented by the Government of the day) were the foundation and purpose for all of the work that I did.

As executive director of the Chamber the mantra changed. It became ‘members’.

Of course there is a crucial difference between taxpayers and members. Failure to pay tax can land you in jail. AustCham mem-bership is, however, a choice. People only join the Chamber – and therefore fund it – if they see a value in what we are doing. This is a strength of the Chamber. And it motivates us to deliver.

So we must be doing something right because membership this year is at a record high. Every year we turn over a small pro-portion of our membership, typically because of changeover in management personnel. It means that we must recruit new members to sustain our membership and revenue base.

At the end of the previous membership year we had 419 members. We presently have 404. With six months left to go and a sign-up rate of about six per month we are look-ing good to shatter AustCham’s membership record. It would be nice to hit 450!

The approach AustCham takes to deliver for members is largely the same as the approach used to represent taxpayers. At the macro level, AustCham is an institution that repre-sents the collective interests, and collective values, of our members – as set down by the elected Board of Directors. We also deliver specificproductsandservicesforthediffer-ent market segments of our diverse mem-bership. That’s why we have our different brands. Sundowners, for example, for cock-tail-style business networking; the Austral-ian Business Forum (ABF) for learning about Australia-Thai business; AustralianAlumni as an important bridge into the Thai community.

The fact that the Chamber membership is broad and diverse is a substantial strength for AustCham. It represents some of our core

FROM THE CHAMBER OFFICE

Calendar of EventsWEDNESDAY 2 OCTOBER Bangkok Sundowners18:00-21:00Venue: Swissotel Le Concorde, BangkokCorporate Sponsor: The Beaumont Foundation

FRIDAY 18 OCTOBER5th Women with a Mission Annual Charity Golf Tournament11:00Location: The Phoenix Golf Club

WEDNESDAY 23 OCTOBERAustChamOfficeclosedinhonourof Chulalongkorn Day

Message from the Executive Director

Knowing Australia: The Challenge to Thai students

1. Sir Charles Kingsford Smith 2. Van Dieman’s Land3. Queensland and Northern Territory Aerial Services

thank you to our september sponsors

Documents

Advance October 2013