TAT May Take Control Of Cash-strapped Elite Cards

[george]

TAT may take control of Elite Cards

BANGKOK: -- Cash-strapped Thailand Privilege Card, the issuer of Thailand Elite Cards, would likely be transferred to the Tourism Authority of Thailand, a TPC source said yesterday.

Tourism Minister Chumpol Silpa-archa would submit the proposal to the Cabinet for approval today, the source said.

Chumpol earlier told the press that he would like TAT to take over the card operation, so TPC would be shut down automatically. TPC has also prepared another option to close its doors. The Cabinet will decide the fate of the company.

"The minister has planned to freeze the company since he took charge of the ministry last year," the source said.

Prime Minister Abhisit Vejjajiva advised the TPC board in January year to revise the company's business plan in order to keep operating.

Wholly owned by TAT, the firm launched in 2003 to serve premium visitors lost Bt134 million in 2003, Bt384 million in 2004, Bt843 million in 2005 and Bt1.14 billion in 2006. To date, the company has sunk Bt1.4 billion in the red.

Methavee Tunwattanapong, spokeswoman of the Tourism Ministry and acting president of TPC, said the company wanted to remain operation, but it was better to transfer the company to TAT.

Earlier, TAT changed its Tourism Product Department into the Tourism Product and Investment Department in a move speculated as preparing to take over TPC's operation.

TPC is a service and investment firm so it would fit in with the new department. However, some tourism associations disagree with transferring TPC to TAT as it could cause long-term problems particularly for financial deals and also bureaucratic hassles.

Pradech Payakvichien, a former TAT governor, strongly supports the ministry's moving TPC to TAT to keep the programme going because it would be the right method to solve the problem.

-- The Nation 2009-11-17

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[LawnGnome]

One of Thaksin's "White elephants" that sucked up huge amounts of money, and produced little to know tangible results. Remember the "we will sell 1 million cards" claim? I feel bad for people who purchased one (but not too bad - if they had money enough to purchase one, they will survive... lol).

[bkkjames]

Looks like a case of pass the hot potato. I don't want it - you take it.

Just cancel it. Refund all the money to those that purchased and move on.

[Gary A]

The main benefit from the card (IMO) was easing the visa hassle. If the government wants to make money from a program like that, they could offer five or ten year visa packages. I would be interested in a long term visa package for sure. Discounts for various things don't enthuse me at all. Issuing long term visas would save the government money. The price would be higher for the long term per year. Maintaining staff to process regular extensions is costly, it would be a win, win situation for them.

[scratt]

The main benefit from the card (IMO) was easing the visa hassle. If the government wants to make money from a program like that, they could offer five or ten year visa packages. I would be interested in a long term visa package for sure. Discounts for various things don't enthuse me at all. Issuing long term visas would save the government money. The price would be higher for the long term per year. Maintaining staff to process regular extensions is costly, it would be a win, win situation for them.

Agreed. When I was originally offered the Elite card I turned it down instantly as I wasn't interested in getting discount on golf or a limo from the airport.. What I actually wanted was a long term visa which did not require me to juggle six things at once and hop back and forth through a hoop all day long..... It's yet another Thai product which is billed at Western prices and yet only offers "bright, shiny intangible things" to try and justify / mask it's own ridiculousness. It's kind of like buying a new furnished Condo by the beach from a large developer, rather than buying a condo yourself privately and employing some local people to renovate it.

I also assumed it would get shelved / go bust eventually and the people who did take one would end up getting ripped off...

Edited November 17, 2009 by scratt

[trogers]

Thaksin will make all of you eat your words - coming out soon - Cambodian Elite Cards - US$1m a piece.

[steelepulse]

Seems like there are a few people around whose combined net assets have increased by 1.4 billion thanks to this brilliant scheme.

[farangene]

BANGKOK: -- Cash-strapped Thailand Privilege Card, the issuer of Thailand Elite Cards, would likely be transferred to the Tourism Authority of Thailand, a TPC source said yesterday.

OKAY, that takes care of the problem.

[alex_aka_P]

Cash-strapped Thailand Privilege Card, the issuer of Thailand Elite Cards, would likely be transferred to the Tourism Authority of Thailand, a TPC source said yesterday.

Tourism Minister Chumpol Silpa-archa would submit the proposal to the Cabinet for approval today, the source said.

I am smelling a rat. Am I alone in that?

Seems to be that the time for 2nd "money laundering" has come. Anyone wish to invest in Elite Card v.2.0? TOT-guaranteed (as TOT have some loses last few travel seasons and REALLY needs money now)...

Come, mista, come!! Please pay here!! More you pay is more you get with Thailand Elite v.2 program!!

Edited November 17, 2009 by alex_aka_P

[bkkjames]

Cash-strapped Thailand Privilege Card, the issuer of Thailand Elite Cards, would likely be transferred to the Tourism Authority of Thailand, a TPC source said yesterday.

Tourism Minister Chumpol Silpa-archa would submit the proposal to the Cabinet for approval today, the source said.

I am smelling a rat. Am I alone in that?

Seems to be that the time for 2nd "money laundering" has come. Anyone wish to invest in Elite Card v.2.0? TOT-guaranteed (as TOT have some loses last few travel seasons and REALLY needs money now)...

Come, mista, come!! Please pay here!! More you pay is more you get with Thailand Elite v.2 program!!

I am not sure about the conspiracy but I am sure now I know why the 3G licensing is taking forever.

[bowbells]

I knew this was coming when I was approached with the TE deal a few years back.

"TPC is a service and investment firm so it would fit in with the new department. However, some tourism associations disagree with transferring TPC to TAT as it could cause long-term problems particularly for financial deals and also bureaucratic hassles."

Wouldnt it be great not to have to rip off all of those sods that forked out 1,500,000 so they could be VIP's for a year in Thailand..... OH WELL!

As for the financial deals, they really are alot easier when they dont involve any financial responsibility. Those idiots are only here to play golf and screw prostitutes...they may as well pay twice for everything in between!

LMFAO

Edited November 17, 2009 by bowbells

[jonclark]

Whenever the Elite Card comes up in a thread, comments are always made along the lines of " well if they can afford the elite card, they have obviously have plenty of money, so if they lose the money they invested in the Elite card, they'll be alright"

Following the same logic, if you can afford to come to thailand on your holidays, then you have enough money as well. The perfect justification for ripping off joe average tourist by the thais.

Hmmm maybe the Thais learnt how to rip of expats by reading Thaivisa

[brommers]

Looks like a case of pass the hot potato. I don't want it - you take it.

Just cancel it. Refund all the money to those that purchased and move on.

Not so much a hot potato as a turd that should have been flushed away years ago. What beggars belief is that people who can cough up 1 million Baht can do so just to get simple things like discounts on golf courses. As for the visa benefits I reckon that even the other so called privilege card is not worth the money & that only costs a few thousand.

It is about time that Thailand got rid of this belief that fleecing tourists is an easy option. The future of hundreds of thousands of tourism industry jobs hangs in the balance right now & there are many other destinations that can offer appealing holiday experiences. Not everyone swallows the TAT Land of Smiles imagery when they hear all the stories of the rip-offs that abound here.

[bkkjames]

I was reading on 'another' English website that they want to blame 20% of the cardholders because they are residing in Thailand? Refresh my memory on the Visa advantages of this programme?

[Crushdepth]

How could the card lose 1.4 billion baht when it has so few members?

Must have been a lot of fingers in the till...

[BSJ]

How could the card lose 1.4 billion baht when it has so few members?

Must have been a lot of fingers in the till...

They have been using the Madoff creative accounting system!

[sholaisen]

TAT taking over is probably the best for the card members... private owners could easily mean no more visa privileges...

Kind of lame to come with the "what did I tell you" just because you are jealous and happy to see other peoples loss (which still hasn't even been confirmed) hmm... karma comes to my mind...

[zzaa09]

Phineas Taylor Barnum coined the perfect phrase for this situation.

[Pib]

I expect the government will not get any decent bids from the private sector to take over the program, will end up transferring the program to the TAT, and will end up paying out some big baht to compensate current card holders (very reluctantly and in a bureaucratic/slow manner) in order to minimize law suits and negative news stories.

[saag]

I was reading on 'another' English website that they want to blame 20% of the cardholders because they are residing in Thailand? Refresh my memory on the Visa advantages of this programme?

I believe it was closer to 31% of the cardholders were suspected of residing in Thailand and it stated that was against the elite card rules. Those individuals were going to be investigated by the Finance Ministry and TAT. I also read that the plan was to put the program up for auction and that if there were no buyers, THEN it would be taken over by TAT and if that occurred, they would not accept any new members.

[alyx]

As a matter of fact it is 31% as we are talking about 795 out of 2570 members

TE members are allowed to stay in Thailand in accordance with the immigration laws or any related law of Thailand: is there a loophole there or does this mean that they are not allowed to remain in Thailand?

How can members be believed not to have the proper qualifications whereas they are allowed to renew their visas every 90 days and therefore have to undergo the immigration process?

[sholaisen]

By residing in Thailand I assume they mean those who has taken work here and doesn't leave for years...

[Bagwan]

I suggest that TAT learns to control itself before taking on added responsibilities. What sort of performance can you expect from an organisation whose Director says that she will sue anybody that says she was the Director?

[Gary A]

I think is just another program where corruption reigns supreme. Do you suppose that it ever occurred to anyone to follow the money to see exactly where the money is going? How can that program possibly lose that kind of money without someone stealing it? It's not like they are giving away booze or food.