Regular features from October 2002 82nd Issue

Dear Sir
Further to the previous correspondence concerning pedestrians crossing Petchkasem Road. In their wisdom, the Traffic Police have erected a police box (complete with police helmet) at the north west corner of the Petchkasem / Damnoenkasem junction. The police box blocks the sidewalk, forcing pedestrians onto the road, right into the path of traffic turning left onto Petchkasem from Damnoenkasem Road. Neither can see each other due to the location of the police box. An accident waiting to happen ?
Yours in amazing Thailand.

Name and Address supplied

Following last months edition on restaurants and eating, here is some vocabulary for food. Eating is an essential part of life in Thailand, don’t get it wrong and end up with a durian instead of fried duck.

rice – khao – ข้าว
plain rice – khao suay – ข้าวสวย
sticky rice – khao niow - ข้าวเหนียว
rice porridge – khao dtom - ข้าวต้ม
fried rice – khao pat - ข้าวผัด
noodles – sen – เส้น
bread – kanom pung - ขนมปัง
potato – munfarang - มันฝรั่ง
cake – kanom - ขนม
vegetables – puk - ผัก
fruit – ponlamai - ผลไม้
pork – moo - หมู
beef – neua - เนี้อ
chicken – gai - ไก่
fish – pla - ปลา
shrimp - gung - กุ้ง
duck – bped - เป็ด
curry – gaeng - แกง
egg – kai - ไข่
apple – abern - แอปเปิ้ล
banana – gluay - กล้วย
watermelon – daeng mo - แตงโม
orange – som - ส้ม
guava – farang - ฝรั่ง
durian – turain - ทุเรียน
jackfruit – kanoon - ขนุน
lime – manao - มะนาว
coconut – maprao - มะพร้าว
mango – mamuang - มะม่วง
roseapple – chompoo - ชมพู่
rambutan – ngo - เงาะ
pineapple – sapparot - สับปะรด
mangosteen – munkut - มังคุด
papaya – malagor – มะละกอ

There's no better place to sample local produce and practise your Thai than at one of Hua Hin's many colourful markets. If you have any language questions or would like translations, send us an email at the Observer.

Financial Planning

Expatriate Financial Planners operating in Thailand are a mixed bag.
Some are professional and work in the best interest of their clients. These people tend to have a professional qualification from their home country. They generally have a professional commitment to fulfill the financial planning needs of their clients to the best of their ability. They build relationship which last wherever their clients end up living.
Others employ starry eyed youths to barrage local CEO’s with constant requests for appointments. When inevitable failure sets in after perhaps one sale these brokers recruit the same types to continue the barrage. After all if 20 people can generate 20 sales its worthwhile for the short sighted. Generally this type has no scruples.
A client of mine was sold a 20 year term US$10,000 a year savings plan which generated a huge commission but what the client wanted was a single premium investment of US$10,000 which generated a modest commission.
It is difficult for a farang here to distinguish between the good and bad. Some will do nothing. Some will use respected International Brokers like Merrill Lynch. And still others will take their advice from respected financial publications.
Let’s look at the options.
Do nothing. What a terrible waste of the best opportunity an expatriate will ever have to secure his financial future in a tax free environment where no little government official dictates the amount you can invest tax free.
International Brokers. Of course this is better than doing nothing and many of these brokers have impeccable credentials. The problem is that many investment banks have no pedigree in financial services. Offshore banks in the UK typically recruit greenhorns and brainwash them into selling their limited product range to their bank customers. Merrill Lynch was fined $100,000,000 – yes the number of noughts is correct- for duping investors. Hardly confidence building.
Financial journalists.. Most financial journalists have one thing in common with Bangkok brokers. Neither is licensed to proffer financial advice.
The Economist in its May 25th. Edition “Retail investors instead of following the tips of Wall Street analysts would be better advised to buy pooled investments vehicles such as mutual funds. Spread your risk or you risk loosing your money”
In its July 13th issue the same magazine says "Yet retail investors choose to put far more of their money into actively-managed funds than do better informed institutional investors".
So how did these institutional investors get better informed? Certainly not by taking the Economist’s advise.
The second quotation was a financial journalist advising clients to go for tracker funds because of their lower cost. However low the costs, the guarantee you have with a tracker fund is that it will under- perform the market when charges are applied. You are investing in capitalization. Where do you go when the market falls?
It is no easy task for a potential investor to find “best advice”.
Two things which I think you should remember.
Firstly be your own judge and remember that market risk can be managed by investing for the long term in a diversified fund or portfolio of stocks managed by an experienced investment professional..
Also The Economist had some good advice on May the 25th. “Never blindly follow the advice of anybody- whether they be bankers analysts, visitors to internet chatrooms or even newspapers” .You can’t argue with that.
If you would like further information on any matter discussed please contact JerryMcMenamin at info@swissinvestcenter.com

Flight News

With thanks to Alain de Rocker
Air France Faces Heavy Strike Losses
As the Air France pilots strike entered its fourth and final day, the airline is estimated to have lost EUR68 million (USD$58.8 million)because of the disruption to flights.The French carrier has managed to maintain around 70 percent of its short-haul services and 60 percent of medium and long haul flights during the stoppage which started last month. Worst hit have been flights from the two Paris airports, Charles de Gaulle and Orly. The strike was called by a group of unions representing pilots over a pay claim. Cockpit crews are seeking a 10 percent hike on top of a 7 percent award made late last year. Further labour action cannot be ruled out as no new negotiations between the 4000 pilots and the partly-privatized airline's management have taken place.
Air France chief executive Jean-Cyril Spinetta said in a letter to the pilots: "It took us four years to instill confidence among ourselves and between us and our clients, shareholders and partners. It would be disturbing for this confidence to be destroyed in four days." He has described the pay demands as "unreasonable."
BA To Lose Top Rating?
The UK's leading airline, British Airways, which in May announced its first full-year loss since privatization, is on the brink of losing its status as one of the country's top 100 companies. A falling share price and its struggle to make decent profits may see the airline relegated from the FTSE 100 share index on Tuesday when a review is conducted.
Chief Executive Rod Eddington admitted at the weekend that the airline could lose its place in the top financial league this week. He told the BBC that he "would wait and see what Tuesday brings."
Earlier this year, BA reported losses of GBPฃ200 million (USD$311.7 million, its first negative result since it was privatized 15 years ago. It has been battered by the huge downturn in traffic since the events of September 11, particularly on its transatlantic routes, and is now cutting capacity and jobs as it tries to slash costs. Competition from European low cost airlines has also cut into its market share. Mr Eddington warned that more trouble lay ahead for all major carriers because of the threat of war with Iraq.
Doubts Over Bangkok Airport Opening
Bangkok's new international airport may miss its scheduled opening date,according to the International Air Transport Association. The industry organization says that political infighting, which has sparked a series of management changes on the project, and a lack of transparency points to a delayed opening. IATA's David Inglis, Assistant Director of Airport Development, told a news conference: "We always hope that airport projects will be 90 percent construction and 10 percent politics. Here in Bangkok it is 99 percent politics." Advice for the new airport is being offered by an IATA team which will consult airlines and put their suggestions to the airport authorities. However, Inglis said no advice had been given so far "as we don't know who to talk to."
Existing plans for the Thai airport see its capacity limited to 30 million passengers each year in the initial phase. This would rise, eventually, to 50 million. Subsequent phases would lift capacity to 100 million, but the time scale for that expansion is unknown.
Taxiway Jet Pilots Grounded
The cockpit crew of a China Airlines jet, who were suspended from flying duties after their passenger plane wrongly took off from a taxiway, have now been grounded by the Taiwan aviation authorities.
The incident happened last January when the CA Airbus A340, with over 250 passengers and crew on board, left from Anchorage, Alaska. Grounding orders of eight months have been imposed on the captain while the co-pilot has received a seven-month ban, said the country's Civil Aeronautics Administration. China Airlines has told its crews that they must double check with controllers about which runway they are using. Controllers at Anchorage realized the pilots had made a mistake but were unable to stop the jet which had started its take-off run. The Airbus took off from the taxiway in the wrong direction and narrowly escaped disaster when its wheels touched a snow barrier.
US Senate Backs Cockpit Guns
American pilots have won overwhelming backing from the US Senate in their campaign to allow guns to be carried in the cockpit of commercial airliners on a voluntary basis. In a week when the Bush administration made a U-turn on its attitude towards arming flight crews, a Senate vote of 87-6 in the pilots favour was greeted warmly by the Air Line Pilots Association. "We are confident that the program created today by this legislation will not only add a genuine security enhancement in the very near term, but also give passengers and crews the added confidence that their government had provided all possible resources needed to defend against a terrorist hijacking," said ALPA's president, Captain Duane Worth. The Senate approved an amendment that prohibits the federal government and airlines from allowing pilots to arm themselves. The decision echoed that of the House of Representatives which passed similar legislation in July this year.
Twenty-four hours before the Senate vote, the federal government backed away from its previous stance on the issue and said it would allow some US pilots to carry guns on commercial flights for a trial period. The trial would be conducted on the understanding that it was on a voluntary basis and that pilots received appropriate training. US pilots have been lobbying hard for the right carry arms since the Transportation Security Administration opposed the idea earlier this year. The TSA said armed marshals on planes and reinforced cockpit doors were a better method of deterring terrorist hijackers.

Favourite Holiday Dishes from Tantawan's Kitchen

SPICY LEMON PORK
Ingredients:
300 gms Lean pork
Selection of mixed salad
1 lemon thinly sliced
Sliced chillis (number to taste)
Garlic 3 cloves
1 tea spoon of sugar
3 soup spoons of fish sauce
3 soup spoons of lemon juice
Method:
Clean and slice the pork. Mix the chilli and garlic with lemon juice and fish sauce.
Arrange the mixed salad on a plate, place the pork slices on the salad, and pour on the chilli mix and decorate with the lemon slices.
Eaten with jasmine rice and cold beer.
Hope you like this dish, new one next month.

Jorgen (centre) looks like he's enjoying his birthday, and who wouldn't

Toni - looking forward to opening her birthday present at Amigos

Derek and David at their Pacific Beach housewarming

The excitement of the Bamboo Grove darts competition proved too much for one spectator

Claus and Nan at Nan's birthday party

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