Jfcct - Press Release On Foreign Business Act

[quiksilva]

See the .pdf file containing the President of the Joint Foreign Chambers of Commerce Thailand's press release in the link below:

http://www.amchamthailand.com/asp/view_doc.asp?DocCID=1278

Essentially what it says is that the proposed changes seem to amount to a compulsory order directing foreign firms to divest their shareholdings in the LOS.

It is said that this could affect up to 14,000 companies, many of which may simply choose to call it quits on Thailand rather than cede control of their firms to their local partners.

Even if that is not the case, many local partners would not be able to afford to buy the additional shares (at full price) anyway, as some foreign firms here are very highly capitalised.

The JFCCT's request for this matter to be postponed for six months, whilst an economic impact study is conducted, seems to be a very sensible suggestion in the wake of recent events, but will it be heeded?

[dr_Pat_Pong]

See the .pdf file containing the President of the Joint Foreign Chambers of Commerce Thailand's press release in the link below:

http://www.amchamthailand.com/asp/view_doc.asp?DocCID=1278

Essentially what it says is that the proposed changes seem to amount to a compulsory order directing foreign firms to divest their shareholdings in the LOS.

It is said that this could affect up to 14,000 companies, many of which may simply choose to call it quits on Thailand rather than cede control of their firms to their local partners.

Even if that is not the case, many local partners would not be able to afford to buy the additional shares (at full price) anyway, as some foreign firms here are very highly capitalised.

The JFCCT's request for this matter to be postponed for six months, whilst an economic impact study is conducted, seems to be a very sensible suggestion in the wake of recent events, but will it be heeded?

One can but hope that sanity prevails.