Thailand Elite Card Project Panned

[george]

Student insurance, Elite cards panned

BANGKOK: -- The Democrat Party said yesterday that the student insurance and Thailand Elite Card projects, which the government boasts among its achievements, have been plagued with conflicts of interest and irregularities.

During the second day of the Democrat Party's live broadcast using streaming video technology on its website, its MPs alleged that firms related to or close to the ruling Thai Rak Thai Party had benefited from the two projects at the expense of students and country.

Chumphon MP Suwaroj Palang said students had been forced to pay much higher insurance premiums than they should.

Students need to be insured to cover Bt100,000 in claims, which usually carries a premium of Bt15 to Bt21 and no broker handling fee.

However, Suwaroj said, the government had set the premium at Bt50 and when schools enforced the programme, they raised it to Bt120.

When calculated to include all students, insurance firms had received Bt800 million more than what they would have had students been charged the customary rate, Suwaroj said.

Suwaroj said Paiboon Life Insurance Co had received the biggest share of premiums. He said Paiboon Life Insurance was a subsidiary of Thai Life Insurance and Thai Military Bank. He noted that the Thaksin Shinawatra's family members were among the biggest shareholders in Thai Military Bank.

Party-list MP Akapol Sorasuchart said there were irregularities behind the Thailand Elite Card project as well.

Akapol said the state firm - Thailand Privilege Card Co - would build five golf courses on land owned by the Crown Property Bureau and the Army with a budget between Bt2.5 million and Bt4 billion, an unusually high cost. He said the construction should, however, cost no more than Bt1.25 billion.Akapol added that since the courses would cater only to Elite Card holders, they would not be worth the investment.

As a result, he said, construction firms with connections with Thai Rak Thai, which would win the contracts, would stand to gain from the inflated construction costs.

--The Nation 2004-05-28

[dr_Pat_Pong]

I sometimes really wonder how Thaksin ever amassed his fortune. He goes off half cocked with everything else it seems. A permanent run of outs.

[ovenman]

I sometimes really wonder how Thaksin ever amassed his fortune.

Had Mr Big been left to his own devices, he would probably not be mega-rich. If you too had been awarded the sole mobile telephony deal for Thailand in the early 90's and a sweetheart deal at that, I don't see how you could help but to amass a fortune.

[stumonster]

that is what is so funny about mr T , the exceptional businessman and leader...

it is only AIS that is keeping shin corp afloat. As wifi and VOIP gain more momentum there will be a rush to enact laws in a vain attempt to protect his investment.... the only downside is he will not come out of this completely broke.

[p_brownstone]

I sometimes really wonder how Thaksin ever amassed his fortune. He goes off half cocked with everything else it seems. A permanent run of outs.

Any businessman will tell you that making your first Million is the hardest - because you have to do all the work yourself when you start out, you are the Salesman, the Accountant, the Bill Collector, everything. Once you start to get capital behind you, you can hire good people to do the work.

It does not take a very smart person to make money from a Monopoly - particularly one aquired through corruption - so making money after that is relatively easy.

This to me is the huge flaw in this Government - the "CEO" believes his own PR that he is a brilliant businessman.

[dr_Pat_Pong]

Let Shincorp take over the Elite card and try to run it as a profitable private enterprise business.

[chingy_]

im a fan of the Democrat Party, does anybody know their website

[george]

Thailand slashes 'Elite' tourist target after slow response

"SPECTACULAR FLOP"

BANGKOK: -- The Thai government has scaled down its target of selling one million privilege cards to wealthy tourists after only 500 people signed up in the first six months, the firm behind the offer said on Friday.

"The target has been renewed. We considered a new target after we saw the details of the work we have done," Thailand Privilege Card Company chairman Somchainuk Engtrakul said at the Singapore launch of the card.

Mr Somchainuk declined to reveal the new sales forecast, saying it was "confidential", but tried to put a positive spin on what some have labelled a spectacular flop.

"We haven't aggressively approached all markets in the world yet because we want to ensure that the service that we provide is satisfactory for all members...so it's starting as a slow process but (membership) is increasing at a good rate," he said.

The "Thailand Elite" card, which costs one million baht (US$25,000) and entitles the member to a lifetime of luxurious benefits, was the brainchild of Thai Prime Minister Thaksin Shinawatra and aimed at boosting his country's tourism industry.

The Thai government had initially expected to sell one million cards within five years of its launch in November, but Thaksin said late last year that he would be happy if 100,000 cards were sold in the first year.

By Mr Thaksin's own revised ambitions, another 99,500 cards need to be sold in the next six months.

Mr Somchainuk said the company expects to sell 7,000 cards in Singapore and Malaysia and 10,000 in Japan within the year, although the target might change as more privileges are added and the cost of membership increases.

Benefits include discounts on hotel rooms and restaurants, access to the best golf courses, investment privileges, VIP immigration procedures and airport transfers and free annual medical check-ups as well as spa treatments.

-- AFP 2004-05-28

[Darknight]

I'll gues they probably will find another "500 idiots with money to much"

But 99500 ????

How do you save face on this one ??? we have a target of 1000 now instead of a million ?

Oh well that's not to bad , it's because of the non existent chicken flu that sales are down

[Bluecat]

By Mr Thaksin's own revised ambitions, another 99,500 cards need to be sold in the next six months.

From 500 to 100,000 in 6 months.

This is not sales growth, this is monopoly on one product in high demand.

It does not take a very smart person to make money from a Monopoly - particularly one aquired through corruption - so making money after that is relatively easy.

This to me is the huge flaw in this Government - the "CEO" believes his own PR that he is a brilliant businessman.

Can't help it,...

[ThaiPauly]

I was at the Rose Garden Golf Club last week for the Golf Mart Tourist Expo The "Elite" membership salespeople were supposed to be there, a ready made market place of wealthy tour operators, did they turn up?

[Johpa]

I sometimes really wonder how Thaksin ever amassed his fortune.

Those of us who have some history up north, especially my fellow educators, know that the Shinawat family has no remorse about eliminating competition with predjudice.

[dr_Pat_Pong]

im a fan of the Democrat Party, does anybody know their website

Democrat Party Website is www.democrat.org.th

[plachon]

Thailand slashes 'Elite' tourist target after slow response

"SPECTACULAR FLOP"

Mr Somchainuk declined to reveal the new sales forecast, saying it was "confidential", but tried to put a positive spin on what some have labelled a spectacular flop.

"We haven't aggressively approached all markets in the world yet because we want to ensure that the service that we provide is satisfactory for all members...so it's starting as a slow process but (membership) is increasing at a good rate," he said.

Hmmmm, maybe there's a few potential customers in Zimbabwe, Malawi and Botwana that haven't yet been "aggessively approached" and could be persuaded to sign up for an Elite card or two..........?

But that does predispose that they have "aggressively approached" the other markets like Japan, Europe nort America and STILL have only managed to snare 500 punters foolish enough to part with $25 K, which doesn't exactly bode well for the rest of the world. Far be it from me to tell the Elite Card Co. how to do their jobs, but may I humbly suggest they lay off the "aggressive approach", treat potential visitors as intelligent humans and not ATMs, consider that not everyone wants to play golf and drive around in chauffeur-driven limos, and knock $24 K off the asking price. Then if you reach the 100, 000 total within the year, I'll let you off my consultancy fee, as a special favour.

[chingy_]

im getting a broken link dr. maybe you miss a word or something

[george]

http://www.democrat.or.th is the correct url

[maitembot]

I saw on the Thai news tonight that they are promoting this card, and giving away many...Only in Singapore