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Forbes Lux holds meeting at Dusit Thani Pattaya
Forbes
Thailand Co., Ltd., led by Kitipong Wongjaturapat, General Manager, recently
held its “Forbes Lux Global Champions Conference 2007” at the Napalai
Convention Hall of Dusit Thani Pattaya. More than 400 managers from 13
different countries attended the conference.
Thailand’s DSI warns public on pyramid schemes
Bangkok (TNA) - Thailand’s Department of Special
Investigation (DSI) has warned the public against investing in pyramid
schemes after finding scams through more than 100 international websites,
which could cause losses of as much as Bt5 billion to investors per website,
a ranking Thai officer said last weekend.
Col. Piyawat Kingket, chief of the DSI’s Bureau for
Special Criminal Cases, said because of the economic slowdown and low
interest rates in 2007, he believed more people would consider investing in
pyramid schemes in 2008.
Several pyramid scheme operators closed their businesses
in late 2007 and escaped with investors’ money, he said. The DSI had found
there were now nearly 100 websites luring people to invest money in pyramid
schemes.
Col. Piyawat urged people to be aware of such offerings,
which promised investors a daily return and high yields. Pyramid schemes are
illegal in several countries, including Thailand.
The DSI was now closely monitoring the activities of one
website of which the operator was suspected of cheating people, he said. The
operator had mobilized funds through the website which was jointly conducted
with foreigners but registered in Thailand.
In 2003, an internet-based ‘pyramid scam’ was
uncovered by the US Federal Trade Commission (FTC), in which customers would
pay a registration fee to join a program and purchase a package which
included an internet ‘mall’ and related goods and services. The FTC’s
complaint stated the company behind the website assured consumers who
purchased the package would earn significant commissions for every website
sold.
The FTC alleged the company deceptively represented that
consumers who participated in the scheme would earn substantial income, when
in fact most consumers lost money in the operation.
Real Estate Agents training seminar in Bangkok
The third CIPS (Certified International Property
Specialist) course will be held from January 21 - 27, 2008 at the Shangri-La
Hotel, Bangkok.
The course curriculum is the educational foundation of
the CIPS Network. It distinguishes CIPS designees as individuals who have
both hands-on experience in international real estate transactions, as well
as having successfully completed an intensive seven-day program of study
focusing on critical aspects of transnational transactions, including
currency and exchange rate issues and cross-cultural relationships, regional
market conditions, investment performance, tax issues and more.
The are two modules as follows:
CIPS I: International Real Estate for Local Markets
(formerly Essentials) - Newly revised this fall - is the two-day
prerequisite introductory course to the CIPS international real estate
courses. The course is an analysis of the international real estate business
environment, including capital flow, currencies, government regulations and
cultures.
The practical aspects of international brokerage,
networking, marketing and selling are discussed. Students must take this
course before taking any of the other CIPS courses. Students will receive At
Home with Diversity Certification in addition to ABR and CRS elective credit
with successful completion of this revised course.
CIPS Institutes concentrate four international CIPS
courses into a one-week format, allowing students to save travel costs and
complete the education program quickly. Three of the four regional courses
are required (Europe, Asia, Americas, and Middle East/Africa).
Many Institutes include a variety of special events in
addition to the required classroom time. Property tours, networking events
with local businesses, panel discussions and social functions may be
incorporated into the week’s program to provide a well-rounded and
exciting learning experience. These courses also may be offered
individually.
For further information about the course schedule in
Bangkok go to www. realtor.org/cipshome.nsf/pages/education or email
[email protected] to register.
7-Eleven to raise retail prices of over 500 products
Retail giant 7-Eleven, one of the largest chains of
convenience stores in Thailand, was expected to raise the retail prices of
over 500 consumer products as of January 1 due to higher transportation
costs.
Piyawat Thitasatthaworakun, Managing Director of CP All,
which operates the stores, said the producers and wholesalers of consumer
products for 7-Eleven had requested to adjust product prices because of the
higher cost of goods, mainly resulting from rising oil prices.
“The transportation cost has increased 30-50 per cent
because of the skyrocketing oil price. CP All has asked the traders to delay
the product prices rise until Jan 1,” said Piyawat last week.
Mr. Piyawat said the price adjustment would not have any
impact on the sale performance of the stores as the products available at
7-Eleven were household necessities.
He said the price rise would also not affect the target
the company had to expand at the rate of 450-500 branches annually. There
are currently 4,300 7-Eleven branches nationwide. (TNA)
FPO concerned with Thailand’s rising inflation rate
Thailand’s inflation rate is likely to rise to 4 per
cent in 2008, fuelled by rising oil prices and higher product prices,
according to the Fiscal Policy Office.
FPO director-general Pannee Sathavarodom said the economy
in November continued to grow satisfactorily, driven by exports, which
increased by 24.4 per cent to a record high of US$14.7 billion.
At the same time, imports increased further by 17.4 per
cent to $12.8 billion based upon local spending recovery and higher oil
prices, resulting in a continued trade surplus of $1.9 billion.
She said that local spending, particularly private
consumption, had accelerated as witnessed by an increase of 11.3 per cent in
the value-added tax collection, and the consumer confidence index on the
overall economy rose for the first time in 13 months to 69.3.
State spending still played a key role in boosting the
country’s economy as the budget disbursement rose by 14 per cent to Bt127
billion in November. However, private spending has not yet fully recovered
with imports of capital goods - contracting by 11.7 per cent.
What should be of greater concern is the acceleration of
the inflation rate, Mrs. Pannee said.
The general inflation rate in November rose to 3 per cent
from 2.5 per cent in October and the core inflation rate edged up to 1.1 per
cent from 1 per cent.
Should oil prices continue to stay high and product
prices increase after the New Year holiday, she said, Thailand’s inflation
rate might rise to 4 per cent.
“What will affect the inflation rate most is the oil
price volatility. We estimate crude oil prices in the global market will
stay high at $80-85 per barrel. This, coupled with the wage hike and the
government officials’ payroll rise, will make the inflation rate rise to 4
per cent,” she said. (TNA)
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