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Money matters:
Graham Macdonald
MBMG International Ltd.
Nominated for the Lorenzo Natali Prize
UK Company Defined Benefit Pensions:
Should I stay …or should I go now? Part 1
I have been getting fed up of some of the drivel written
about this recently and so have put together what I hope will be the definitive
article for people to make their own decisions which will suit their own needs
and not those of someone else. By now many of you may well be aware that
Pensions A-Day (6 April 2006), produced some radical changes regarding the rules
governing transfers from UK registered pension schemes. From this date,
individuals who wished to migrate from the UK were able to transfer their UK
pension funds to an overseas pension scheme, provided it was a ‘Qualifying
Recognised Overseas Pension Scheme’ (QROPS).
There are numerous benefits to be gained in transferring a UK
pension to a QROPS and we shall cover these later. All too often, however,
articles on QROPS transfers emphasise the caution which should be exercised when
considering a pension held in a Defined Benefits Scheme (DBS), and quite rightly
so. A DBS provides an individual in their retirement with an income based
entirely on their earnings and length of service with the company operating the
DBS. Such a scheme often comes with guarantees attached such as a pension income
guaranteed for life, where statutory annual increases of up to 5% can apply.
Having said this, unfortunately nothing is ever so cut and
dried. It is important to consider how safe the DBS is and whether or not it
will be capable of delivering on its promises. At the end of the day, when
deciding whether or not a pension should be transferred from a DBS, it is
important to gather all of the relevant facts in order that an informed choice
can be made.
As always, it will be impossible to eliminate the element of
risk. To date, the Pension Protection Fund (PPF), set up by the Government as a
safety net for failed schemes, has accepted 120 pension schemes where the parent
company has gone into administration. It has also turned down 75 schemes on the
basis that they can still give members a pension better than the compensation
provided by the PPF.
You should be aware that the PPF is capped and, in the event
of your old company going into administration, it will not provide a pension on
a like for like basis as your old scheme. Furthermore, in September last year
the British Chamber of Commerce started calling for the Pension Protection Levy,
paid by existing schemes to support the failed ones, to be scrapped all
together. This is all that funds the PPF, and its future is far from certain.
As a QROPS is a personal pension, its performance in the
future is very much dependent upon the value of its underlying assets. What
should also be remembered though is that when the pension fund is exhausted, so
too is the member’s income - unless of course an annuity is bought. With a DBS,
the employing company carries all the risk in meeting the guarantees it has
promised to its member. It is important to remember however, that as much as it
sounds advantageous to leave this risk with the employer and not yourself, this
does not, in any case, mean that you can afford to put your feet up, especially
in the current climate.
Unfortunately, many of these seemingly gold plated pension
schemes are dying out fast, mainly due to their high running costs. Furthermore,
every pension fund is based on stock market performance, and falling share
prices have hit the assets held by many of the schemes, forcing employers to try
and prop the schemes up themselves. What many do not realise is that after the
Global Credit Crunch of 2008 over 90% of schemes were in deficit, some very
seriously.
On 4 June 2009 it was reported by the Times that Barclays had
become the first leading UK employer since Rentokil Initial some four years
earlier to announce plans to close its final salary pension scheme to existing
members. On 18 August 2009 the Daily Mail reported findings of a study
which had been conducted by a firm of consultants called Watson Wyatt. Their
investigation found that half of the UK’s companies researched will have closed
their generous defined benefit pension schemes to existing members by 2012. The
report stoked further fears over the extent of Britain’s Pensions crisis after
it was also reported that almost all blue-chip companies admitted earlier in
2009 that their final salary schemes were unsustainable.
Fast forward to 11 February 2010, when it was reported that
Telecoms company BT had agreed to pay off a ฃ9bn deficit in its pension scheme
over the following 17 years. Despite this, the Pension Regulator said it had
“substantial concerns” over the plan although it has not stated publicly the
nature of those concerns. The pension scheme had been in deficit since the
1990’s but this ballooned from ฃ3.4bn in 2005 because the company finally had to
accept that it would be much more expensive to fund pensions in the future than
they had otherwise thought. They have now had to take on board the fact that
pensioners are generally living another two years longer than was previously
believed at the time of the scheme’s valuation, in 2005.
The slashing of tax relief on pension contributions for high
earners as from 2011, cutting the tax relief on contributions for those earning
more than ฃ150,000 from 40% to 20%, has sparked outrage among high earners in
the City and has led to predictions of an exodus from the UK. It is likely that
many more people will be caught by the restriction on higher rate relief than
first anticipated, due to the way it is structured.
When these measures were first proposed in the pre-budget
report of 2009, industry experts were already saying that such an attack on
pensions tax relief could send the wrong message to both scheme members and
employers. Rob Warren, Director of Regulation at IFF Research, was quoted as
saying: “What has yet to be seen is the impact of the tax change on lower-paid
employees’ rewards. Senior executives who have previously maintained a business
final salary pension scheme may no longer see the incentive to do so. As they
are forced to shift to alternative investments, the unintended consequence could
be an accelerated decline in the number of defined benefit schemes available to
others, which could have a devastating impact on ordinary people’s future
income.”
Likewise, Alex Waite, a pensions adviser from Lane Clark and
Peacock, was quoted by the Observer newspaper on 26 April 2009 as saying: “If a
managing director is not personally able to gain any benefit from participating
in the company pension scheme, it is only human nature that their attitude
towards the whole scheme will be affected. Given the delicate state of the UK
pension system it seems rather unfortunate to, in effect, remove the personal
value of pension arrangements from those people who are often the decision
makers for everyone else’s pension.”
So how can you tell if a DBS is in trouble? What are the
warning signs? There are a few indicators to look out for:
1. How well the scheme is funded? A company’s pension funding
position is of major significance being the pension pot for all of its member
employees. The company is, in effect, investing on each member’s behalf and in
turn, it is carrying all of the risk.
2. Is there a deficit? If the company becomes insolvent and
the scheme is in deficit, an individual will almost certainly lose some, but not
all, of their pension rights because the Pension Protection Fund in the UK does
not guarantee full pensions. For members who have retired but have not reached
the normal pension age of their scheme, they will receive up to 90%
compensation. However, these 90% compensation levels are subject to a cap which
is recalculated every year for new pensioners.
3. Are any pension bribes being offered? This is a very
strong sign that the scheme is seriously struggling. A large number of firms,
many of them in the FTSE100 of Britain’s biggest business, are thinking about
offering cash bribes to workers who agree to quit their final salary schemes.
Known as an ‘Enhanced Transfer Value’ (ETV), the pension trustees pay a lump sum
called a transfer value into an alternative pension scheme. The deal, in theory,
is supposed to be equivalent to the final salary benefits that the member is
giving up, and is typically coupled with a cash lump sum on top from the
employer to tempt people. Whilst such deals may initially appear attractive,
they can leave an individual worse off.
4. An increase in retirement age. You may have been told that
you were entitled to take benefits from age 60 but now this has been pushed back
to 65. Could this be a sign that the company’s pension scheme is struggling to
meet its commitments?
5. Have staff recently been asked to increase their personal
contributions to the scheme? A possible sign that the scheme is suffering a
shortfall at some level.
6. A scaling back of the accrual rate. The accrual rate is
the rate at which future benefits in a defined benefit final salary pension will
accumulate - based on a formula linked to the scheme member’s pensionable
earnings. This formula is usually expressed as a fraction of final salary such
as 1/60th or 1/80th, and the pension
benefits at retirement age will increase as the length of service increases. For
every year a defined benefit scheme member is working they are earning a
percentage of their final salary. However, some company schemes have cut back on
this future accrual, meaning that for every year an individual is working, they
are naturally then earning a smaller percentage of their final salary.
7. A frequent replacement of pension scheme trustees and
actuaries. If there is a high turnover it is very likely that the trustees and
the company are having regular disagreements over the scheme’s management.
Clearly it is important that an individual seeks advice if
they have any doubts over the future of their DBS since it may prove
advantageous to transfer out to a QROPS if they are about to leave the UK or
have already left. Next week in Part 2 we’ll cover the advantages and
disadvantages of moving your pension to a QROPS.
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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]
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Snap Shots: by Harry Flashman
Deleting and partitioning
My wife borrowed my (work) camera the other day to take some photographs
of one of our children’s graduation. It was a disaster, but from the
depths of despair, several good rules for better photography were
demonstrated.
SD memory cards.
The disaster began the night before when my wife
attended a children’s party and without the discipline of a 36 shot roll
of film, it was blam-blam-blam. Us old film users remembered that the
number of shots was limited, so we tended to take our time in composing,
framing and being specific with our shots. Now with no ‘film’, even a
2GB memory card has its limits, especially if shooting in
high-resolution and even less when shooting in RAW mode. Sorry if that
sounds all very technical, but it is not. Check your digital camera and
see what mode you are using. Simply, the larger and more detailed the
images, the fewer you can pack on to a memory card or memory stick.
The next day came the graduation, and the request to
use the work camera again. There were probably around 20 students in the
class, but by the time it was our child receiving the certificate, the
camera said the card was full and could accept no more! Disaster!
Now the instructions on how to delete unwanted images
was actually in the camera bag, buried amongst the 134 pages of
Operating Instructions, but it was all a little late by then. The
‘decisive moment’ (thank you Monsieur Cartier Bresson) had passed.
So what ‘rules’ were learned? I would like to think
that first one is to be more critical of what it is you are actually
photographing. The ‘blunderbuss’ technique may work for hitting barn
doors, but it does not work in capturing the subject correctly in
photography. And you burn up the space on the memory card.
The other immediate message is to regularly go
through the delete program on your camera and get rid of poor quality
unwanted images. In most cameras this is still a fiddly kind of
exercise, but one that needs to be done.
Now here is another trap for young players – even if
you remove ‘all’ the images, it may not actually be ‘all’ the images.
This is where ‘partitioning’ comes in. For some electronic reason, not
known to this old film photographer, the memory card can be divided into
sections by the camera’s electronic brain, and just deleting everything
in one section, does not mean you have got rid of everything.
However, all is not lost for the non-e photographer.
If you have the necessary adaptor you can plug your memory card into
your computer, look at the total contents of the card, and it will show
you the sections, and then delete from there.
Now, if you haven’t got one of these adaptors to plug
into your computer through the USB port, (or can’t find where or what
the USB port actually is) all is not lost (yet). Go to your friendly
photo shop, and instead of telling him which pictures you want printed,
or put on to a CD, you tell him which pictures you want deleted!
Now there always is the worry when you delete images,
that you delete the wrong one. That all-important picture of you
standing on the top of Mt. Everest has been lost. But it actually
hasn’t. It is still there on your SD card, you just can’t access it.
If the picture is exceptionally important, then stop
all work with the camera, so that the picture is not over-written, and
get some software which allows data recovery. Examples of these are Disk
Digger and PCInspector, but there can be no guarantees, as is repeated
in the disclaimer that comes with these free, downloadable files.
However, if you are wanting to retrieve images, do not take any more
until after the retrieval.
So the photo lessons include always deleting as you
go. Learn how to delete, including opening partitions and be more
selective when shooting. If there is one important subject, shoot that
before you start shooting ancillary stuff. And finally, buy a large
memory card!
Modern Medicine:
by Dr. Iain Corness, Consultant
Food facts and fads
What we eat is something that has fascinated us for
centuries. We have made rituals and even fetishes out of eating and
drinking, and the oldest gourmet group in the world, the Chaine des
Rotisseurs, is still going and began in 1248 AD. That’s a long lunch! And a
lot of food.
These days, with our tentative forays into ‘real’
science, our dietary habits have also been scrutinized plus the many claims
made for modifying the kind of food we eat and what we drink. This in turn,
has produced legions of people who swear by various foods which will cure
everything from falling hair to falling arches (or even falling stock
markets) and of course, what is considered the ‘big’ one - cancer!
Think critically for a moment, it is very difficult to
‘prove’ that by taking the shredded root of some Outer Mongolian herb or
similar items, that ‘something’ (usually cancer) does not happen. Even more
outrageous are the claims that some herb, poppy or whatnot can actually
‘cure’ cancers. Is it all just poppycock?
To be able to prove these claims needs medical science to
look at a large group, or population, and compare the cancer experience with
another similar large group or population. Ideally, the two groups are
matched for age/sex/ethnicity/working environment, location etc. You get no
worthwhile results comparing Welsh coalminers with urban Africans, for
example, to go to extremes. That is real apples and oranges.
Recently, some results of a 15+ year study in Australia
have been presented at the CSIRO Prospects for Cancer Prevention Symposium.
The findings emerged from the Cancer Council’s Melbourne Collaborative
Cohort Study, an ongoing research project involving 42,000 Australians who
have been monitored since 1990.
Looking at the dietary habits and the cancer connection,
Dr Peter Clifton, director of the CSIRO’s Nutrition Clinic, said there was
“zero evidence” that eating fruit and vegetables could protect against
cancer. The nutritionists and the healthy eating proponents were shattered.
However, this to me is a much more compelling argument than something that
comes from folklore, or the lady next door who swears by it. You are looking
at the results from a study of 42,000 adults.
What the survey did show was that the three prime risk
factors as far as predicting cancers were concerned were identified as
obesity, drinking too much alcohol and smoking.
More than that, staying within a healthy body weight
range was found to be more important than following particular nutritional
guidelines. This means a thin person who does not eat enough fruit and
vegetables would have a lower risk of developing cancer than someone who is
overweight but eats the recommended daily amount of fruit and five colors of
vegetables.
Professor Dallas English, of the Cancer Council of
Victoria, told the symposium that despite decades of research, there was no
convincing evidence on how modifying one’s diet would reduce the risk of
cancer.
“The most important thing about diet is limiting energy (kilojoule)
intake so people don’t become overweight or obese, because this has emerged
as a risk factor for a number of cancers, including breast, prostate, bowel
and endometrial (uterus),” he said.
The link between eating red meat and bowel cancer was
“weak” and the Cancer Council supported guidelines advising people to eat
red meat three or four times a week, Professor English said.
In Australia, the biggest killer is still heart disease,
so healthy eating will lower one’s chances of heart disease, even if it does
not protect you against cancer.
Both Professor English and Dr. Clifton predict an
increase in the incidence of cancer as a result of Australia’s obesity
epidemic, but say exercise can play a vital role in cutting cancer rates,
potentially halving the risk of some cancers. That I find a rather sweeping
claim, but there is no doubt in my mind that moderate exercise is good for
you.
So there you are – get down to a healthy weight and
exercise regularly, drink alcohol in moderation only (Australians do not
know what “moderation” means) and stop smoking. In this way you will lower
your chances of heart disease and cancer.
Goodness me, you might even outlive your doctor!
Heart to Heart with Hillary
Dear Hillary,
I was sitting quietly assessing the lack of passing trade in
a bar in one of the less salubrious areas of Pattaya when a group of touring
farangs entered and began an animated discussion of the price effect on girlie
favors with the decrease in tourism. Some were of the opinion that the costs
would escalate in an effort to make up for losses in lower numbers of clients
while others thought the opposite, believing the ladies would take it in their
stride. In fact several thought they would soon see such sandwich board signs as
“50% off Weekdays”, “Big reductions during Happy Hour”, “Two for the price of
One” and “Bring a friend - Free” etc.
Being a wise old biddy of vast Asian experience, what are
your thoughts on this crucial economic matter? And what do you consider as a
fair price for an hour’s company of a lissome young wench in this current fund
starved time? Please take into account the countless years of inflation as the
tuppence charged in your younger years is long since but a happy memory for
some.
Being only in my mid 80s it was before my time so obviously I
cannot recall what were your halcyon days. However, if you are looking for a toy
boy may I offer my services ? Although I have no idea why, I should warn you I
am now finding my mind is occasionally making appointments my body fails to
keep.
Regret can’t afford champers and chocs but a bottle of
Guinness and a slab of extra soft nougat suitable for the molar challenged aged
are on their way to you. Enjoy.
Harry Cott-Bene
Coach to the Pattaya Over 80s Nude Trampoline Club
Dear Harry the Coach,
What a strange twisted and tortuous mind you have. And your erstwhile drinking
mates likewise. You all seem to have totally misunderstood the rules of commerce
in what you so indelicately call “girlie favors”. Why would any bar (in less
salubrious areas or otherwise) advertise prices and this week’s special offer by
means of sandwich boards, when everyone knows that prostitution is illegal in
this country. Just ask the friendly policemen on The Strip.
I gather from your letter that you are from the UK.
Prostitution is different over there, I am led to believe, complete with
published price lists. That is not the case here, so you should not confuse the
two countries. If you and your bargain seeking friends from the less salubrious
parts of town are looking for dalliances, this is a private matter between the
ladies and yourselves, not between you and the establishment. Big difference
Petal. And as far as my knowing the “fair price for an hour’s company of a
lissome young wench in this current fund starved time,” pray tell, why should I
know? At last count, I was not a member of the Arbitration Board. You really do
come out with some absurdities, Harry.
My honest suggestion is that you and your impecunious
friends elevate yourselves to better quality (more expensive) drinking holes,
stop discussing items which cannot be discussed, and reduce the quantity of
Vitamin V ingested at a sitting (or is that a lying?). And if I ever need a toy
boy with Alzheimer’s I’ll let you know. Don’t wait up.
Dear Hillary,
After finding myself a widower in the UK, I began to look for
some company, which is normal. What a nightmare that turned out, as all the
British women of my age seem to have several tons of baggage they are hauling
around with ex-husbands, children like leeches, financial disasters and all the
rest. None were ever interested in what sort of a chap I was, just how much
money I had, what sort of car I drove and where did I live.
I gave that away as a bad job and came to Thailand for a
holiday to get away from them all, and met a wonderful Thai lady here. In her
40’s, never married and ran a small business in Bangkok. After my third visit, I
knew she was the one for me, and fortunately she knew I was the one for her. Now
after nine years together, it just gets better and better. I just want to say
the Thai women do make good partners, and sure there are cultural differences to
get over, but it is worth it. We are living in the UK at present but we will
retire in your beautiful country.
Jerry
Dear Jerry,
I am delighted to get your letter, which will have more than a faint ring of
truth to it for many who have looked for a soul mate in their own countries.
However, I have to say that there are also a fair few local ladies carrying a
great deal of baggage, not the least of which is the brother’s bent motorcycle
perched on the back of the ailing buffalo. You are correct when you say that
cross-cultural marriages have their own unique hurdles, but you have obviously
overcome them. Congratulations, and enjoy your retirement in Thailand when the
time comes.
Let’s go to the movies:
by Mark Gernpy
Now playing in Pattaya
Kick-Ass: US/ UK, Action/
Comedy/ Drama – An unnoticed high school student and comic book fan one
day decides to become a super-hero, even though he has no powers,
training, or meaningful reason to do so. It’s been hailed as a
rollicking, virtuoso comic-book adaptation that fizzes with originality,
feisty wit, and an unexpected degree of heart. With Nicolas Cage. Rated
R in the US for strong brutal violence throughout, pervasive language,
sexual content, nudity, and some drug use - some involving children.
Early reviews: Generally favorable.
Legion: US, Action/ Fantasy/ Horror/ Thriller – In
the first minute, the angel Michael falls to earth and then cuts off his
wings. It goes on from there with, I must admit, a certain amount of
evocative style. They describe the story: After a terrifying biblical
apocalypse descends upon the world, a group of strangers stranded in a
remote truck-stop diner in the US southwest unwittingly becomes
humanity’s last line of defense when they discover the diner’s young
waitress is pregnant with the messiah. Starring Paul Bettany. Generally
unfavorable reviews.
Secret Sunday / Number 9: Thai, Suspense/ Horror –
How they describe it: At his mother request, Nat, a young architect,
unwillingly takes a journey to visit nine different temples in seven
days in order to clean up his bad karma. He is accompanied by his
beauty-columnist girlfriend, and a young monk who is responsible for the
chant to chase away the bad karma. But, as the journey goes by, and the
more they try to clean up Nat’s bad karma by making merit, the closer
they get to “THEM.”
Big Boy: Thai, Comedy/ Drama – A young man
from the country moves to Bangkok, under the premise of taking care of
his ailing grandfather, to pursue his dream of becoming a popular B-Boy
dancer (breakdancer). It turns out his grandfather at one time pursued
dancing himself, but failed to achieve his dreams. The young man and his
grandfather always had a love-hate relationship, but it turns out his
grandfather manages in the end to push the young man to finally attain
his dreams.
The Princess and the Frog: US, Animation/ Family/
Fantasy/ Musical/ Romance – A fairy tale set in Jazz Age-era New Orleans
and centered on a young girl named Tiana and her fateful kiss with a
frog prince who desperately wants to be human again. I think Walt Disney
has much to atone for in its presentation of blacks over the years,
right from the very beginning in the silent era, and this film pretty
much does the trick. After a few squeamish moments at the start, the old
Disney magic takes over, and you’re treated to classic 2D animation in
the venerable Disney style. A brilliant animated film in the tradition
of the great Disney fairy-tale films. Generally favorable reviews. At
Pattaya Beach only.
Up in the Air: US, Comedy/ Drama/ Romance – Led by
charismatic performances by its three leads, director/ writer Jason
Reitman delivers a smart blend of humor and emotion with just enough
edge to get a nomination for best picture of the year. George Clooney
flies around the US firing people that their bosses are too timid to do
themselves. Rated R in the US for language and some sexual content.
Reviews: Universal acclaim.
Dorian Gray: UK, Drama – Despite a lavish and
polished production, this stylish adaptation is tame and uninspired with
a lifeless performance by Ben Barnes in the title role. With Colin
Firth. Early reviews: Mixed or average. At Pattaya Beach only.
Clash of the Titans: UK/ US, Action/ Adventure/
Fantasy – The mortal son of the god Zeus embarks on a perilous
journey to stop the underworld and its minions from spreading their evil
to Earth as well as the heavens. Starring Sam Worthington as Perseus,
Liam Neeson as Zeus, and Ralph Fiennes as Hades. A remake of a 1981 Ray
Harryhausen adventure starring Laurence Olivier, and likely to be the
first chapter in a trilogy based on Greek mythology. Mixed or average
reviews. Shown in both a 3D and a 2D version at Pattaya Beach, 2D at
Major and Big C, which also has a Thai-dubbed version.
How to Train Your Dragon: US, Animation – I think
this is a really terrific family film. Set in the mythical world of
burly Vikings and wild dragons, the animated action comedy tells the
story of Hiccup, a Viking teenager who doesn’t exactly fit in with his
tribe’s longstanding tradition of heroic dragon slayers. Hiccup’s world
is turned upside down when he encounters a dragon that challenges him
and his fellow Vikings to see the world from an entirely different point
of view. Generally favorable reviews. Shown in 3D at Pattaya Beach.
Bang Rajan 2: Thai, Action/ War – The sequel to
Bang Rajan, it continues the patriotic legend of a tiny farming
village that fought Burmese invaders despite insurmountable odds and
successfully held off a foreign invasion until the capital at Ayutthaya
could put up a proper defense. Ferociously violent and bloody, with even
more buffaloes and mustaches than the original.
Green Zone: France/ US/ Spain/ UK, Action/ Drama/
Thriller/ War – Courageous director Paul Greengrass takes on the whole
Bush Administration (and the Blair administration too I guess) as he
reminds us all, very forcefully, that there never were “Weapons of Mass
Destruction” in Iraq and the governments knew it, and the whole fiction
was created as an excuse to go to war. Starring Matt Damon as a US Army
officer who hunts for the elusive WMD and finds only an elaborate
cover-up. Rated R in the US for violence and language, 18+ in Thailand.
Generally favorable reviews.
Solomon Kane: France/ Czech Republic/ UK, Action/
Adventure/ Fantasy – Solomon Kane is a fictional character created by
the pulp-era writer Robert E. Howard. A 17th century Puritan and a
somber-looking man, Solomon Kane wanders the world with no apparent goal
other than to vanquish evil in all its form, and James Purefoy brings
great brooding style and charisma to the role. 18+ in Thailand.
Generally favorable reviews. At Major Cineplex only.
Saranae Sib Lor: Thai, Adventure/ Comedy – With
Mario Maurer of Love of Siam fame, playing a young man whose
father suspects he’s gay.
Valentine’s Day: US, Comedy/ Romance – Critics
have been unkind to this story of Intertwining couples and singles in
Los Angeles as they break-up and make-up from the pressures and
expectations of Valentine’s Day. A huge hit in the US. Generally
unfavorable reviews. At Major Cineplex only.
Nak Prok / Shadow of the Naga: Thai, Action/ Drama
— About a trio of thieves who bury their loot in a Buddhist
temple, then dress as monks in order to retrieve the stolen loot. Its
strong depictions of the thieves robed as Buddhist monks have kept it
out of Thai theaters until now, when the new rating system allows more
controversial scenes and images, if properly rated. 18+ in Thailand. At
Big C only.
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