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CHIANGMAI:( Lawyer LLB Barrister at law) Chiangmai, Thailand from the "29 TANIN CO LTD".  We can now offer you services at very reasonable rates. Kuhn Sumalee speaks English so please ask us any questions and compare our prices. As from 2005  Bangkok joins us to provide the following services. We also have Khun Nida Bangklok and Pattaya law services.

 

 

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CORRUPTION IN ASIA:

Mobile: (66) 083-2931045 our law 24 hour help servic

 

  REPORT: The risks of actually doing business in S E Asia at the moment is volatile and totally underestimated by foreign companies. Executives in Thailand " have not fully appreciated the corrupt political system and the impact it will have on business and the wider economy". This latest report comes from the Political & Economic Risk Consultancy Ltd or (PERC)

   They go on to say the worst countries to do business are Indonesia, Malaysia & the Philippines due to their domestic unrest and the ethnic problems they are all having. However Singapore which is perhaps the most non corrupt of the SE Asian countries could actually become a pawn if these countries erupted. A survey showed 71% gave political unrest as the greatest concern & 29% who thought that the country cited economic risks. However the same survey in Singapore was the exact opposite-- 29.71.

   The problem with focusing on these economic variables is that Singapore could risk giving foreign companies a false sense of security. Indonesia & Malaysia have political problems. In Malaysia the problem lies with Dr. Mahathir who it appears is holding onto power too long. Could this be like a lot of other so called leaders of their country: e.g. Fujimori of Peru just dropped; Zimbawbwe's Robert Mugabe is going even more senile, Cambodia's lack of International cooperation with the Khmer Rouge trials, the Military junta in Myanmar needs more drug money hence theyre trying to route the Shan in favour of the Wa who make the drugs, & now the new PM in Indonesia is on the corruption list. Why are these countries rulers so enept at holding onto the reins at any cost? or have they many "things" they are hiding.  Thus the economic volatility is being portrayed in SE Asia & foreign companies are disappointed with Malaysia's economic performance & those of Indonesia not forgetting Myanmar's lack of allowing proper democratic voting for it's people..

  China however saw political risks at 40% & economic risks at 60%. While these situations continue their will be an imbalance of foreign investment in Thailand. What with the corruption in the voting electorates recently & the inconvenience caused by the enormous cost to initiate a new vote X4 one must ask, why are these corrupt practices tolerated & why are these same candidates allowed to stand for a rerun when they have not abided by the laws. This and other vote buying practices will no doubt be logged into the minds of foreign investors until  somewhere, somehow these practices are stopped.

   If a politician can be wooed to another party then what about the constituents who voted for these candidates & the party they stand for. In fact money; "yes 2m baht given by Thai Rak Thai" to woo candidates away from there respective parties. To buy other party candidates is a disappointment for the people who voted these candidates who are now enticed by greed and money-- not the peoples thoughts. Until Thai politics thwarts these practices I'm afraid the Thai people will remain the pawns with the rich becoming richer, the poor becoming poorer, & the foreigners in Thailand taking the brunt of this delemna.

The new government needs foreign money to defray their large deficit. Not from the west but from China. This will no doubt be Thailand's mistake in its life if they go ahead. Remember China has a long memory and they still want their little baby back--(Taiwan) & not forgetting the Japanese whom they dislike for the mass killings they did in the 50's.China will hold the purse strings to unlock Thailand if this happens. 

  Thai Rak Thai has won the election but what will happen now and will the coalition parties of New Aspiration & Chart Thai fair any better. History has proven a little differently but we hope the leaders will look at corruption as a bad thing--but will they?? It must be remembered that when Thailand's economic collapse started the Shinawatra group via inside Trading made millions of dollars on the exchange market?? General Chavalit also had his hand in amongst this and not forgetting the little fellow Barnham who certainly spent a lot on his city. All these folk run the country & the coffers.

  Finally the political  situation will not stop here. Corruption is a way of life in Asia & it will take years to stamp out, if at all. We have seen it in every avenue in Thailand & it still goes on.

 

MOVING YOUR MONEY FROM THAILAND TO ANOTHER COUNTRY:

This is 6 ways to send money out of Thailand: bank drafts, bank transfer, ATM cards, traveller's and Visa Travel Money.

DRAFTS: 

Cheapest method. Bank issues a cheque & then its sent overseas. Cost 103 baht for bank fee for US$, stirling & most others but 230 baht for Australian dollar. Drafts are safe but if you stop payment under 1000 baht it costs 1050 baht to initiate a stop payment on the cheque. Process can take 2-3 weeks to clear a cheque.

TRAVELLERS CHEQUES:

Safe & convenient but expensive in Thailand. Bank's charge 1% of the value plus 23 baht per cheque. Good when you leave the country. If not travelling they can be hard to buy as may need a ticket to show. The good thing is you need your passport to access cash.

BANK TRANSFERS:

Transferring to another account overseas is fast say 3-4 working days. Charges 400-600 baht but may be a charge at the other end. eg USA fee is $US15-$20.No more than $50,000 can be sent out in any one year. Thai banks may need to see what you want to pay for first.

PREMIER CARDS:

Plu cards & Maestro have entry fee of 50 baht-100 baht. & annual fee up to 200 baht. If you use overseas charges are 75-100 baht per zipzap except Citibank which has no charge. Cannot get account balance & limited access to funds per day.

VISA TRAVEL:

Card like an ATM one. No fees but banks charge 1% value of the card. You can put in $10,000 on the card but cannot top up.

OTHER:
Need quick cash then use a credit card but ask your bank. Charges in Thai banks can be 300 baht per 5000 baht withdrawn. Foreign Banks can charge the same fee & interest on the card up to 27.5% from the day of withdrawal.

Express money services like Western union & Moneygram for emergencies. Can have the money processed and available in 10 minutes. Only $2000 a time & fees 5-10% charged. The Bank gives a pin which you tell the collector and money can be uplifted straight away.

Moneygram from Thai Military bank charges between US$12 & $300 per transaction up to $10,000 sent at once & $20,000 limit per day.

If travelling out you can take out US$ but make sure you know how much youre allowed first and also in the other country. Remember you can open a $US account here which helps if the baht falls???

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