Vol. XIII No. 10
Friday March 11 - March 17, 2005

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Fun City By The Sea

Updated every Friday
by Saichon Paewsoongnern

 

BUSINESS 
HEADLINES [click on headline to view story]: 

Nirvana – Perfect Bliss is possible, without dying for it

Calls for gov’t to set up independent consumer watchdog

KRC predicts Thai economy will grow only 5.2% this year

Oil price rise to have little impact on loan growth

French-speaking Rotary Club helps tsunami victims

Tiger Airway increases Phuket-Singapore flights

Nirvana – Perfect Bliss is possible, without dying for it

Nirvana is a state of bliss that we all aspire towards, but half way between Pattaya and Jomtien, Nirvana can be yours.

Nirvana Place Condo, the third stage following the Nirvana Resort in Koh Chang and the Nirvana Boutique Hotel in Jomtien Central, is now accepting clients who wish to be part of this unique five star development.

Unique is a word that is used too often, but Nirvana Place Condo does have several features that makes it unique. This is a seven floor, 55 condominium unit residential landmark with security that far outstrips the more usual parking attendant at the entrance. With the security being handled by European Safety Concepts (ESC), the security company chosen by most five star hotels in Thailand, Nirvana Place Condo features on-site security personnel, double locking systems, individual fire alarms and dedicated panic buttons for each unit. Even the car park is located securely underground, with each resident having electronic swipe card access to their locked parking areas.

Another unique aspect to the development is in having one of Pattaya’s top restaurants on-site, which will supply an in-unit dining service if required. The Mata Hari Restaurant, featured prominently in the 2005 Thailand’s Best Restaurant Guide, under the watchful eye of Louis Noll, the president of the local chapter of the world’s oldest gourmet group the Chaine des R๔tisseurs, is relocating to a superbly decorated venue within the Nirvana Place Condo.

The design for the 55 units includes incorporation of all the hi-tech features that make today’s living so much easier, such as IDD, dedicated central email and LAN system, as well as wireless broadband internet access.

However, the ‘old fashioned’ niceties have not been ignored either, such as butler and maid service, professional laundry, valet, limousine service and travel arrangements. Factor in day-care facility and play areas, health and fitness rooms, swimming pool and jacuzzi in lush tropical gardens and you can begin to see the total concept of Nirvana Place Condo. This is the five star luxury you have always wanted. In one total package.

The rooms themselves have hand-crafted furniture and fittings to fit in with your choice of overall theme, be that Modern Bali, Contemporary Thai or New Oriental style architect designs.

And while the interiors are breathtaking, the basic structural designs have not been skimped, with our on-site Swedish qualified engineer/project manager overseeing every detail of the construction. We have even remembered to make access for those people who require wheelchairs. Nothing has been left to chance.

To find an exclusive development such as this, you would expect to be situated far away from the busy cosmopolitan tourist areas of Pattaya or Jomtien, yet Nirvana Place Condo is located half way between them, high on the hill to enjoy the cool sea breezes. Less than five minutes from either center.

The word is exclusivity. Within Nirvana Place Condo, you are sheltered from the frustrations and tribulations of modern living, within your own secure luxury condominium. You are enjoying the comforts of five star living in units that can be as large and spacious as 210 square meters, or a cozy and comfortable 77.5 square meters. This is the lifestyle you have always promised yourself.

That lifestyle is here now. And yet at prices that are so low you will be amazed. This is five star living for a three star price! If you believe you are ready for an exclusive lifestyle you owe it to yourself to make enquiries by telephoning 09 834 4293 to make an appointment you will never regret to view the condominium that can take you to Nirvana and perfect bliss!


Calls for gov’t to set up independent consumer watchdog

A leading academic and child health activist called on the government to establish an independent consumer protection agency in line with the constitution, saying that it would help solve the growing problem of child obesity.

Dr. Chanika Tuchinda, who leads a campaign against child sugar consumption and acts as an advisor to the medical council of Siriraj Hospital, described child obesity as a global crisis that is leading to a host of related illnesses, including diabetes in children as young as eight.

Calling for urgent action to stamp out the problem, she said that the government should address childhood obesity as a matter of serious concern by issuing a raft of related measures.

“Clause 57 of the constitution makes for the establishment of a consumer protection agency, but this has never been set up despite five different deputy prime ministers having overseen the issue,” she noted.

“As a result, consumers are not being fully protected, particularly when it comes to snack food.”

She noted that other sectors of society also have a responsibility to help crack down on childhood obesity, particularly schools and parents, which has a duty to instill correct eating and exercise habits.

At the same time, local communities should be given equipment to allow children to engage in exercise, while families should be given more information from the Ministry of Public Health on the dangers of childhood obesity and how to solve it.

The media, meanwhile, should slap controls on advertisements for unhealthy snacks, while manufacturers should turn to the production of healthier alternatives. (TNA)


KRC predicts Thai economy will grow only 5.2% this year

The Thai economy is likely to expand only 5.2% this year since main components of the country’s gross domestic product (GDP) in most categories, except state investment, will grow at a slower pace, according to the Kasikorn Research Center (KRC).

The leading think tank forecast that the country’s GDP in the fourth quarter of last year would grow 5.9%, down slightly from 6% in the third quarter.

The GDP growth for the whole of last year was expected to be 6.2%, a decrease from 6.9% in 2003.

For this year, KRC believes GDP would grow 5.2%.

Thailand might experience a trade deficit for the first time since the country managed to weather the 1997 economic crisis, KRC cautioned.

The trade deficit might be around US$948 million this year, while last year’s trade was US$1.68 billion in deficit.

Still, the current account is expected to be US$4.1 billion this year, compared with US$7.3 billion last year.

KRC said the slowdown in economic growth and people’s purchase power signals new loans would continue to gradually increase from last year, rather than enjoying leapfrogging growth.

At the same time, liquidity in the country’s banking system would continue to ease, resulting in commercial banks raising short-term interest rates, perhaps, in the second half of this year.

However, the rates would not be higher than the repurchase rate set by the Bank of Thailand (BOT).

Overall, the interest rates should be adjusted no more than 1% from late last year, said KRC.

Meanwhile, Deputy Commerce Minister Anutin Charnvirakul said yesterday that Prime Minister Thaksin Shinawatra instructed state agencies concerned to jointly address the trade deficit upon acknowledgement of the country’s first deficit in nine months.

The premier wants the agencies to accelerate finding ways to prevent repeating the trade deficit.

The trade balance in January was US$1.48 billion in deficit, which led to the current account deficit of US$942 million.

“The premier has expressed concern over the deficit and ordered the committee on examination and monitoring of imports to play a more active role and the National Economic and Social Development Board (NESDB) to work out a strategy to cope with the matter in a concrete manner,” he said.

Anutin said he, however, told the cabinet at its weekly meeting that the import of products, most of which are capital goods and raw materials, had significantly increased.

The products were imported to be used for the expansion of the country’s industrial sectors along with the economic recovery.

He said the oil import has increased in terms of value, not volume.

Most capital goods, including machinery, gold, and ore, were imported on purchase orders.

They need not be kept in stock like consumer goods.

He added that state agencies need to undergo major revamps, particularly for this year, to upgrade the country’s status from an original equipment manufacturer.

Local manufacturers must be encouraged to boost marketing and build their own product brands since the country’s industry has potential to add value to products.

They must focus on using local contents for production, as part of efforts to reduce reliance on imports and to comply with the free trade area agreement. (TNA)


Oil price rise to have little impact on loan growth

Higher fuel prices could have a psychological effect on entrepreneurs, but would have a little impact on the loan growth target, according to a top banker.

Peerasilp Supapolsiri, president of Bank Thai Plc, said the entrepreneurs, most of whom are bank customers, would be somewhat affected by the continued increase in oil prices.

However, he believes they would finally be able to adjust to the situation because hefty fuel prices have repercussions in every corner of the globe.

He expressed confidence that the fuel price hike would not affect the bank’s target for the extension of 20 billion baht in loans this year, as the bank plans to introduce new financial products including hire-purchase businesses within the next two months.

He conceded interest rates are on the rise, but the bank has no plan to raise the interest for now because it has no liquidity problems.

Sathaporn Chinajit, president of the Export and Import Bank of Thailand, said he did not expect the oil price increase would put the global economy in the doldrums. So, it can’t have repercussions on the overall Thai economy.

Asked to comment on the account deficit in January, he said the country might experience the deficit in the first half of this year. Still, it should have no problems unless the deficit exceeds US$2 billion.

He believes the current account balance would turn into a surplus in the second half of this year.

Sathaporn said fuel prices and the US dollar movement would remain key risk factors on the economy for this year. (TNA)


French-speaking Rotary Club helps tsunami victims

The Rotary Club of Pattaya Marina, the first French-speaking Rotary Club in Asia, was founded on December 21, 2004, by Charter President Nicholas Demet. Immediately after the tsunami tragedy that hit South East Asia on December 26, the club decided to help the people of Ban Nam Kem, a fishing village located in Phangnga Province, which was completely destroyed.

(From left) Rotarian Yves Echement, mayor of Ban Nam Kem Tawip Chaymui, President-Elect Pierre-Yves Eraud, and Piangpit Mangonkeow (supplier of fishing equipment) completed the first step of Rotary Club of Pattaya Marina’s project to help people in Ban Nam Kem.

One million baht was quickly collected for helping these people to work again and to feed their families. On February 14, four new boats with complete fishing equipment, totaling 450,000 baht, were donated to the people of Ban Nam Kem. This month, other equipment including boats, vehicles and working material will be donated.

The Rotary Club of Pattaya Marina meets on Wednesdays at 11:30a.m., at Le Petit Liegeois on Walking Street in South Pattaya.


Tiger Airway increases Phuket-Singapore flights

Tiger Airways, Singapore’s low fare airline, announced it is launching a second flight to Phuket starting from end March 2005. The additional flight will operate initially twice weekly, on Monday and Friday evenings, increasing to a daily second flight for the peak summer season.

Tony Davis, CEO Tiger Airways

“Tiger Airways is ahead of forecast budget in all our current routes in Thailand and there are no plans to cut back on any existing flights. The second flight to Phuket is a demonstration of our confidence that the Thai tourism industry is solidly back on its feet after December 2004. In fact the Singapore-Chiang Mai service, launched on February 18, is so encouraging that we are considering increasing frequency to the city from four times weekly to a daily service,” said Tony Davis, CEO Tiger Airways.

“While other airlines may be consolidating and cutting back on their flights, Tiger Airways has been able to increase its flights. We have been experiencing strong performance on our Phuket routes following the creative co-operation with the Tourism Authority of Thailand (TAT) in promoting Phuket over the last six weeks,” Davis added.

The second flight to Phuket gives clout to the low cost carrier’s (LCC) announcement on January 20, 2005 that it is a long-term player in the region, when it slashed fares to support the Tourism Authority of Thailand efforts to revive tourist traffic to Phuket. Other carriers had pulled out of Phuket shortly after the island was hit by a tsunami in late December 2004.

“Tiger Airways is confident that Phuket will remain a popular destination with Singaporeans. We expect tickets on our new evening services to Phuket to prove very popular and our customers should book early to secure the lowest fares,” said Davis.

Ticket sales began on March 3. To book seats, travelers should visit www.tigerairways.com or call 02 351 8888.



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