dinga

I hold 2 investments in the LM Currency Protected Australian Income Fund (CPAIF), which is one of a number of feeder funds for the LM First Mortgage Income Fund (FMIF).

CPAIF investors should be aware that LM is proposing changes to the FMIF Constitution that I believe will have a substantial impact on investments in those feeder funds.

Despite this, at present LM will not allow feeder fund investors any input into those changes. This is unacceptable to me.

As Responsible Entity, LM holds those CPAIF units on my behalf. While LM will rightly will not use those Units to vote (as it recognizes the clear conflict), given the extraordinary circumstances it should afford investors in feeder funds the opportunity to vote on the proposal on the basis of their FMIF indirect investments.

In my view, CPAIF members should request a special meeting to thrash this issue out with LM and have it corrected - with the FMIF vote to be suspended until that is done.

I'd welcome any thoughts from feeder fund investors especially in the CPAIF.

As my earlier post indicates, I am an investor in the frozen LM First Mortage Income Fund (FMIF).

The Financial Statement for Y/E 30 June 2011 records that over A$12 million in interest was treated by LM as being 're-investments' in the Fund.

I assume that many/most of the investors due that interest would be very unhappy with such treatment (and the impact of the consequent +20% haircut applied to unit prices).

In my circumstances, I believe the Fund Constitution indicates that interest should be paid in the period subsequent to the submission of a redemption request and that LM's treatment was not supportable.

I took the matter up directly with LM and after extended and extensive effort had them agree to rectify the situation (despite LM stating there was no liability to do so).

Any unhappy FMIF investor in similar circumstances can contact me and I'll provide full details.

I would like to contact fellow investors in the LM First Mortgage Income Fund (FMIF), to arrange a forum for us to discuss the proposal by LM to change the Constitution of that Fund.

There is presently no ability for investors to discuss the proposal amongst themselves, and develop other recommendations/proposals to be put to a members vote as is their right under the Fund Constitution. I have tried to make constructive suggestions about how LM can facilitate such a process but is seems none will be adopted by LM. Given this, and LM's refusal to provide me with a copy of the members' register, I can only conclude LM seeks to discourage direct investor interaction in order to restrict investors' focus to only those matters promoted by LM.

While on the surface LM's proposal appears to be simple, it seems to me the implications of the proposed changes to the Constitution are profound and will likely have significant impact on the value of my investment.

While there may be benefits to LM, in my view LM has failed to provide sufficent information to demonstrate that its proposal is in my best interests as an investor eg. where is the information about other options that were identified and analyzed, and why are they not preferred?; Where is the financial modelling of all options?; Has the bank financing facility been secured and do the terms and timeframes place any limitation on investors' position? etcetcetc

In the absence of such, I have concluded there is insufficient information for me to make a informed decision on the LM recommendation being put to members' vote. I see this as being unsatisfactory, as it seems investors will be pretty well locked into the LM process if the vote is passed, and I will have to blindly gamble on what may give me the "least worse" outcome.

In my view, the vote scheduled for 16 May should therefore be postponed until sufficient information is available.

If there are other like-minded investors in the LM FMIF, I suggest we urgently meet to:

* discuss LM's performance to date, including whether LM should be removed and replaced as the 'responsible entity'

* discuss the changes to FMIF Constitution proposed by LM, so that we can all be better informed (I see this as especially important given my understanding a significant proportion of investors are elderly and may rely on the opinion of the advisors who introduced them to LM and whose independence may be questionable if there are trailing commissions)

* identify any information deficiencies, and request such information be provided prior to the vote

* discuss the need for LM to hold Investors Forums - also prior to the vote - to provide members with the opportunity to discuss and question LM on its recommendations

* identify alternative options to be put to those Investors Forums and/or to a vote by investors

Fellow LM FMIF investors please provide urgent feedback on these thoughts.

Thanks for the advice so far. Have now attached some photos which show the problem with 3 of the bricks.

Am I correct in guessing that it won't be possible/practical to replace those bricks? In any event, sounds like I should paint the inside with epoxy.

If I do that, without replacing the bricks, is there anything available to preserve the exisiting bricks?

Anyone ever used the large red clay bricks to build a small above-ground lotus/fish pond?

I'm really pleased with the outcome, but now a few of the bricks are crumbling and I'd appreciate any suggestions about how the bricks can be treated to prevent any further deterioration (one thought was to drain the pond and apply an epoxy paint to the internal rendering - if moisture is the problem)

The bricks came from Nakhon Sawan, are handmade from (I assume) red clay and apparently have been fired. They are clearly much weaker than the small red bricks favoured by Thai brickies, and are similar to the ones used to construct the old temples.

Thanks!

While there is apparently no progress on determining the 2006, 2007, 2008 (of which mine is one) and 2009 PR Applications, and no Applications were sought in 2010, just wondering if the Application window will be opened in the remaining 5 weeks of this year.

Assume not, but interested to know if anyone has a better insight....

Sorry, I don't know but since most, if not all, land offices are corrupt, I assume the extra 1.5% is part of their 'tea money'. In any case I think the seller should have paid the withholding tax, not your wife as the buyer.

A single, official receipt was issued for all the duties/taxes, including the 2.5% WHT. Good that it isn't 'tea money" and my Land Office simply frustratingly slow - not corrupt. Negotiations to reduce the asking price included us paying these fees.

Any other suggestions before Mrs Dinga girds the loins, and tackles (pun intended) Land Office Central on Friday?

Tks

The 1% wht is only for co.ltd's, for individuals check this link http://rdsrv2.rd.go....landwht06_1.asp

Tks Kimmie. I've been through the calcs have have concluded it's better to let sleeping dogs lie ie. Mrs Dinga's shopping will not be disturbed by a trip to Land Office HQ. This exercise has been instructive though, in again highlighting that website information cannot be relied on - even if the information is consistent and provided by law firms.

Hau hin

I've always found Cha Am to be nicer than Hua Hin, but neither are in Eastern Thailand if that's where the OP wants to be.

What about Sri Racha or Bang Saen?

Laem Mae Phim (near Klaeng) is the place to be! (but Tesco - Klaeng or Ban Phe - is the closest we get to a shopping centre)

Sorry, I don't know but since most, if not all, land offices are corrupt, I assume the extra 1.5% is part of their 'tea money'. In any case I think the seller should have paid the withholding tax, not your wife as the buyer.

A single, official receipt was issued for all the duties/taxes, including the 2.5% WHT. Good that it isn't 'tea money" and my Land Office simply frustratingly slow - not corrupt. Negotiations to reduce the asking price included us paying these fees.

Any other suggestions before Mrs Dinga girds the loins, and tackles (pun intended) Land Office Central on Friday?

Tks

There are four items:

1. Transfer fee = 2% of the registered value of the property

2. Stamp duty = 0.5% of registered value. Only payable if exempt from business tax

3. Withholding tax = 1% of the appraised value of the property

4. Business tax = 3.3% of the appraised value of the property if selling within 5 years. This applies to both individuals and companies

The transfer fee is the only one that normally should be payed by the buyer. The stamp duty and the taxes should be carried by the seller.

G'day STGRHE

That was my understanding also, until our dealings with the Klaeng Land Office last week. My wife just purchased the house next door to our bungalow, the previous owner having owned the place for over 10 years (rental property - not his main residence).

The declared purchase price was 680,000, with the official appraised value being 853,700. The transfer costs charged were:

* Transfer Fee: 17,074 (2%)

* Stamp Duty: 4,276 (0.5%)

* Witholding Tax: 21,343 (which equates to 2.5%)

My question relates to the WHT - any idea why 2.5% was charged??? (the locals were less than helpful, so any suggestions appreciated before the mrs looks for clarification from the BKK head office)

BRs

Dinga, the registration for an imported Bike with sidecar will likely be impossible. The manufacturer would have to Homoleg the Rig first at the DLT .

You can import it but legally on the road it won't be...not to forget the emission standards which are not being met on the bike as mentioned in a prior post.

mbox

[Thanks MBox - sadly, you've confirmed what I understood to be the case ie. forget it]

I had one when I lived in Beijing and its best bike I ever owned. I see a guy here claiming to import them! but I would not believe him. If anyone is serious about buying one, I can put you in touch with the best dealers in Beijing. I do not get anything for this, but having lived there for a few years I know the good from the bad.

[From previous posts, the clear advice seems to be that it is too hard to personally arrange the importation of a 2nd hand bike, so buy locally. There are suggestions that local 'dealers' can arrange to import specified bikes on order -and if this is so, I am very interested in buying a CJ-750 if this can be done legally (with full payment of import duties & taxes - not interested in parts import, and no legal registration with fake/no green book). My questions are simply (1) can a 'dealer' really arrange this; and if so (2) at what fee? ]

Dinga,

Noise analysing 101. Knocks during acceleration it is ether pre-detonation or crankshaft bearings. Knocks during deceleration or on overrun it is the small-end bearing or piston slap.

As the noise has gone let's assume it was knocking or pre-detonation. I do not see any connection between worn valve seals and pre-detonation, unless it was knocking when you first started it which you didn't tell us, in which case the leaking oil was causing "dieseling". Could it be they did something else like adjust carburettor or maybe your oil was low?

As has been said don't sweat it if the noise has gone it has gone. But don't lug the engine it is after all only 200 cc, let it rev a bit.

Great - tks for all the helpful advice. I am indeed wiser (not surprisingly, having come from a low base). Seems I'll keep my fingers crossed, watch the oil level and whistle up you good folks again if the knocking starts again

BRs

Help - since I know FA about mechanics! I have a Honda Phantom that I bought new 5 years ago, and have done 13K kms on her. Intermittently, the engine produced a god awful knocking noise that was reminiscent of the sound my old VW Beetle used to make. Took it to the Honda dealers and they replaced 2 valve o-rings - so far, so good noise wise. Would appreciate any advice about the reason the o-rings needed to be replaced (is this common), and what are the implications - if any - of this problem on the on-going health of the engine?

Tks!

Thanks for the suggestions - here's where I've finished up. The Vent Axia fans seemed to offer the solution but have significant downside ie. they (a) are not stocked in Thailand; ( had difficulty in pinning down information locally; and © are hellishly expensive [s$677 each for the 7" TX7WW Model, with a further S$85 for the controller - delivered to Thailand]. I looked at picking them up when I was passing through the UK on holiday, but the price was still GBP 284, so gave up on Vent Axia.

A few weeks ago I stumbled over Victor reversible fans at Global House, Rayong. Bought two of these 8" fans (at 505 baht each) and - while the true test will be in March/April - they seem to do the job (at a total cost installed of around 1,100 baht each). Photo attached.

Have just added the following comment to the Nation's article concerning the need for Thailand to run a PR campaign - and which directly relates to this catgeory.

PR = Public Relations.

PR = Permanent Residence.

Agree that a proper and thoughtful PR campaign is needed - especially after the disgraceful international reporting. IMHO, the best folks to put the correct face to the Thailand situation are the farangs that have chosen to live here - and not the politicians. One obvious element could be for the Government to quickly process the PR applications for 2006, 2007 and 2008 - with attendant and widespread publicity.

Thoughts? And more importantly (if the idea has merit) how to advocate it!

Nice twitch. Are you for real?

Yes - indeed I am. I am a 2008 PR applicant and am therefore also interested in looking for avenues to unblock the current impasse (no dount the Joint Foreign Chambers of Commerce in Thailand will be looking for opportunities to support Thailand and am thinking this idea be a possible inclusion in any JFCCT submission to Government).

Have just added the following comment to the Nation's article concerning the need for Thailand to run a PR campaign - and which directly relates to this catgeory.

Agree that a proper and thoughtful PR campaign is needed - especially after the disgraceful international reporting. IMHO, the best folks to put the correct face to the Thailand situation are the farangs that have chosen to live here - and not the politicians. One obvious element could be for the Government to quickly process the PR applications for 2006, 2007 and 2008 - with attendant and widespread publicity.

Thoughts? And more importantly (if the idea has merit) how to advocate it!

Who could they use for this supposed "PR" campaign that everyone would accept?

Korn is the only one I can think of, and that is a bit of a stretch. That said, they desperately need to connect with the foreign media. Sitting on high with a grey backdrop and bits of cut out foam like a cheap Thai wedding is not the way forward. Where they would find someone with the media savvy and connections to get the stories they want out to CNN, BBC, and all the others I don't know.

I don't know why anyone is surprised that the BBC didn't exactly follow the government line. The previous correspondent got shipped out to Turkey after getting whacked with lese majeste charges.

Maybe Dan Rivers would fancy a posting. A million a month and a nice apartment should do it.

Agree that a proper and thoughtful PR campaign is needed - especially after the disgraceful international reporting. IMHO, the best folks to put the correct face to the Thailand situation are the farangs that have chosen to live here - and not the politicians. One obvious element could be for the Government to quickly process the PR applications for 2006, 2007 and 2008 - with attendant and widespread publicity.

Thoughts? And more importantly (if the idea has merit) how to advocate it!

Oldgit, I'm thinking of doing the same thing for my home...

Can I ask, about what is the purchase price of those kinds of fans, where can they be purchased, and how would the installation be handled, in terms of cost and who doing it.

Thanks much...

I suggest you install a Vent Axia or Xpelair wall or window mounted fan unit(s).The Vent Axia TX series will allow you to pull in fresh air from outside or extract air as it is reversible unit.

Just an update - appears the Vent Axia fans are not stocked in Thailand. Have received 2 quotes for the TX7WW model:

* Singapore Distributor: S$677 ea (Baht ~15,850) + S$85 for controller (Baht 1,990) - delivered Bangkok

* China Distributor: GBP 90 ea (Baht 4,293) Ex-Works UK

Are there any other similar reverse airflow fans that are recommended and are available in Thailand? Guess the alternative for me is to wait until we pass through London in October, and pick up the Vent Axia fans then.

Thanks OlGit and Naam - the TX sounds like the solution. Will let you know how it goes.

Appreciate suggestions to solve my problem, where the air at night in our main bedroom and living room (both upstairs) is hot while the outside air is quite cool. There is generally little breeze at this time of year to bring the cool air inside via an ample number windows, and the wall/ceiling fans just seem to circulate the hot air. The roof is insulated, and while the house is relatively cool during the day I guess the insulation is the problem at night by trapping the hot air inside (indeed, the air in the roof space is much cooler). Can (and do) use the aircon but think there should be a cheaper solution.

Have been thinking about installing exhaust fans in the ceilings and venting the inside air into the roof space, and assume it would be replaced by the cool outside air. Anyone had experience with this approach?

Maybe another possibility is to use fans to pump air directly into the rooms from outside - or perhaps the roof space - but this seems less practical to me given the design of the house and the fans.

Suggestions that have worked especially welcomed!

I need to install weather seals/strips in 30 wooden windows. HomePro is the only place I've found that has these, but they are in small 5m packages sufficient for only one window (at 300+ baht per window this ain't especially cost effective). Would appreciate any tips on where I can buy a (bulk) roll of this material (I live in Bangkok, and the house is in Rayong).

Tks

I have found them in glass/aluminum shops in Phuket. 20 meters at 300 baht.

The windows you dont ever open, can be sealed with silicone.

Tks - they need to open so silicon is not an option. Have tried a couple of glass/alum shops in Klaeng without success. Will try some more in Rayong

Try Global House in Rayong just off Highway 36

Tks - Global House is a great store, but sadly it doesn't have window weather seals/strips

I need to install weather seals/strips in 30 wooden windows. HomePro is the only place I've found that has these, but they are in small 5m packages sufficient for only one window (at 300+ baht per window this ain't especially cost effective). Would appreciate any tips on where I can buy a (bulk) roll of this material (I live in Bangkok, and the house is in Rayong).

Tks

HELP! I don't think my question has been answered already (but apols if it has).

I want to transfer Baht from a Kasikorn account to a Baht account with the Commonwealth Bank in Aust. K-Bank says it would be delighted to help by sending the funds in $Aussie (using the on-shore FX rate for conversion). At the receiving end, the CBA will then use the off-shore FX rate to convert back to Baht -leaving a substantial capital loss.

K-Bank says it cannot transfer Baht out of Thailand and I've received a similar response from HSBC.

Does anyone have a solutions to this problem (my interest - pardon the pun - is in receiving +7% for 6 months Baht term investment in a Currency Protected Income Fund Vs the 2.5% payable here)

First, you should check with your Thai bank if it is willing to make an outward remittance in Thai Baht. Probably it is not. If it is, you may then want to check your non-Thai bank's exchange rate for an inward remittance in Baht and see if there is really any savings.

I tried to look for the exchange rates used by HSBC in the UK but could not find it.

--

Maestro