Elite Card

[Axel]

Here is an old saying>>>>   Condemnation without proper investigation or asking questions shows ignorance.   

Dave, this quote I fully agree to.

Now Hitler and Marcos are dead, so I don't care too much on them.

T. is alive. May be somebody is too harsh on you. I am convinced you have your sources and did some research. So what I am interested to learn, where did you get your information on below quote?

"T. gets the lion share of the card, which is launched through a Malaysia-bank."

[Guest IT Manager]

Sorry Axel quite correct...

"Qualifications for membership"

No limit of age

Never been sentenced more than 6 months

not adjudicated bankrupt

Not an unsound mind or incompetent (thaiglish)

Is not a Thai Citizen

[DaveYo]

Ok to answer one question here. Let me pose it to all of you as of the following

If Thaskin is the founder and creator of this card (example you are founder and creator of some company) don't you think he will at least get some good pointers for his pocket ( example> You get your money from the company you created and founded).

If Thaskin does not make any money on this scheme, then why do such and promote it????? It makes no sense. Many of you say it is all about money >> am I right or wrong????? Well, it certainly is about money concerning the Elite card.

I do not put everything in detail on my posts here and maybe at times not descriptive enough to paint a picture so your minds can understand mine. I look beyond the face that I see or read and look to see what is to be gained by doing such or buying such or having such.

In this case yes, Thaskin is looking for the money to be gained for the Country that he lives in, and yes Thaskin did go to USA to get his education in Texas, btw which is verified, and yes he does get these ideas from his close subordinates that are under him.

Now whether or not he gets the lions share (pardon maybe not so) unless proven otherwise who else will get this share of the proceeds etc and so forth, besides the Bank of Malaysia who is backing this card up. Much of what I have said came from other posts from people who have provided such information. Not out of my head here.

Bottom line is this>>>> If I or you start something or create something (example Bill Gates of Microsoft) I am most certain you definitely want your share of the take. Also if you invented something you definitely want your share of the take for others to promote your invention etc and so forth.

Every place you go, someone wants the share of the take or want something out of it to be satisfied. That is the nature of business or life.

So for Thaskin to not get anything out of this Elite card, he would have to be an Angel!!!!!!!!! and if he does not someone awful close to him is certainly getting it that may be out of the political spectrum for his use later on. This money can also be used for his next campaign if he decides to run for another term. There are many uses and options Thaskin can opted for concerning this card.

So maybe my imagination is a bit wild, but at same token, look beyond the black and white and picture the various possible scenarios. He has a brain, but to know precisely his intent and or purposes one has to be inside of his head to know what is going on.

Here in America, everybody wants something for some price like it or not. To create or to perform or to do they want some green dropped into their pants. Even the USA Government wants your money via taxes either once a year or daily from sales proceeds, or from your labors. Get the point??????

I hope I explained it enough to all of you that I suspect Thaskin is indeed getting some take out of this Elite card but as to how much big question mark, and if not who is getting the take?????? besides the known bank of Malaysia as one of them. That is why there is so many unknowns. Will Thaskin report this as his income remains to be seen????? If not then I will suspect the cash cow is in Malaysia which is untouchable to those in Thailand.

For me to prove that part, heck I would have to do a Bank robbery or something in Malaysia just to show all of you, if it is at all possible. For me it is >Not worth it.

Daveyoti

[Adjan]

As for me, I think that a good deal is when the seller and te buyer both win something. In the case of this BS card it's also a third part which is the thai country.

As I can see in this forum or speaking with my friends, some potential buyers are thinking that it's more to loose than to win with this deal. Bad start...

If this card is one more flop, it will be nothing good for the country, both inside and outside, anyway not enforcing trust in such government.

Tachsin of course is trying to win something, maybe not money (doesn't he already have a lot ?) but some more notoriety in his country. For now, it doesn't work so much for him too.

About the 300 cards already sold... A good way to start a new business is to pay for the first customers or pay some people to play the customers depend of the activity. Tachsin is a businessman and it is nothing illegal to make some deal with business friends as "you buy my card and I will make some discount when you will buy something else to me" (or buy my card and I buy something to you, but that's not thai style...).

I'm now speaking only about the part of the world I'm from : Europe. In Europe it will be very difficult to buy such card to people they really are "elite". Real "elite" are so discret as possible... Try to go outside with the head of David Beckham, Harrison Ford, Bill Gates or even Ghandi or Dracula... you will soon understand what I mean...

As for me, I'm quite sure to be abble to sale about 200 cards around me, and maybe 2'000 more in whole Europe in 1 or 2 weeks. Have just to change a little something (without any extra advantage)... But, of course, I will keep my mouth closed until having 10% of my future sales on my bank account in Switzerland and a life visa in my passport. Nojoke nore swindle.

Adjan

[Whale]

I wonder how much commission a sales person gets on one? I would like to sell them.

[Thaiquila]

I wonder how much commission a sales person gets on one? I would like to sell them.

I wonder how "elite" you have to be to sell the cards? I think I read the commission is 10 percent, but you see, it is payable over your lifetime and that of your ancestors, and it could change or go away at any time. (Kidding.)

Anyone have any comments on this supposed assurance from the elite card PR in the latest news announcement?:

"Thailand Privilege Card Co would be around for a long time, not only during this government’s term, because it is a private company and has members around the world who benefit the country greatly over the long term, he said.

"I’m confident that no government would dare to close us. If anyone tries that, he’ll get sued by cardholders all over the world.""

Does this pronouncement really give anyone any more confidence that people aren't taking a huge risk that the card company will fold? The card company is a PRIVATE COMPANY. It could fold and and the money would be "gone." Who are you going to sue? The Thai government? A certain then retired PM? The salesman who sold it you? And you are a foreigner suing a Thai in Thai court. Again, the fabulously rich wouldn't bother suing anyway for that "small" amount.

If this card company is serious about being more of a mass success, they really need to do a much better job of providing assurances.

[Axel]

In another threat

http://www.thaivisa.com/forum/index.php?showtopic=4902

increase of airport limos fees is shown.

Now I have to recalculate the benefits of the card again.

15 roundtrips p.a. BKK downtown at Baht 3000 = Baht 45,000.

Could this be a reason for the proposed increase from 1 to 2 million for local residents?

[Adjan]

As for me I think they have to increase the price of the card because somebody was buying the whole stock of grass seedles, making golf courses falling down in difficulties

http://www.thaivisa.com/forum/index.php?showtopic=4882

[dr_Pat_Pong]

Who are you going to sue? The Thai government? A certain then retired PM? The salesman who sold it you? And you are a foreigner suing a Thai in Thai court.

Sue 'em ....that'd be taking optimism to dizzy heights. The smallest book in the world is the list of foreigners who won against a Thai in a Thai Court.

[Guest IT Manager]

Puts the lie to what I was told...

1000 years of German Humour,

Every English Recipe 1066- 2000

Political Debate by The Dear Leader (North Korea)

[peterexpat]

Why Dont people look at their existing CREDIT CARDS

You will recieve more benefits,

i.e discounts on hotels , golf courses,

get air miles etc

everyone has health cover , so why pay 1 million.

all they have done is take existing offers and put them in 1 package and charge you for the inconvience.

BUT NOW NEW YEAR NEW PRICE?

2005 3 million?

etc

just a thought

peter

[piet pompies]

China Fast Track offers red-carpet treatment on arrival in China, personal escorts, baggage handling, special immigration treatment etc. See page 8 of Busines Traveller, Jan/Feb 04. Cost US 3,846 per annum. Sounds similar to Elite, but no upfront payment or golf or land.

e-mail address given was [email protected]

[dr_Pat_Pong]

Puts the lie to what I was told...

1000 years of German Humour,

Every English Recipe 1066- 2000

Political Debate by The Dear Leader (North Korea)

The Who's Who in Australian Aborigines

Italian War Hero's

Australian Statesmen

[maerim]

And don't forget the anthology of the Pope's erotic dreams.

[Leslie Kierig]

Well, back from a splendid holiday. I have had a chance to read probably most of the comments and ongoing criticisms...and I have to say, it makes me dizzy. I am almost to the conclusion that no matter how one might try to portray this offer in a positive light...there seems to be those that just want to go to great lengths to twist or distort, criticise, condecend, make fun of, riducule...any efforts for this project to stand up on it's own two feet and get running. With all the finger pointing and mockery going on...I think if Thailand was to become the country certain individuals think they want it to be...(those of us who are living here) we would most likely leave. For those of us who long for a tight and efficient and well controlled Singapore like environment...well, that place is just down the road.

I am reminded of the APEC summit a month or so ago. And Bangkok was cleaned up with no vendors on the sidewalks, and foot traffic was like a normal western city. At first I marveled at how wonderful it looked. But after a few days, I felt something was missing. It was...Thai cuture had been shelved. Those ###### motorcycles going down the sidewalk, the vendors blocking access to my favorite shops, people in the way and creating a mass of confusion, making it three times as difficult to get from point A to point B. But hey...that's why I am here. That is why I find this place so interesting, and that is why I stay. I like to say that "Every day in Bangkok is a different day"...because it is, and I am never bored. Frustrated sometimes, yes...but never bored. If things ran like they did back in my home country...I'd be out of here in a NY minute...!

For what it's worth...

[Butterfly]

I am reminded of the APEC summit a month or so ago. And Bangkok was cleaned up with no vendors on the sidewalks, and foot traffic was like a normal western city. At first I marveled at how wonderful it looked. But after a few days, I felt something was missing. It was...Thai cuture had been shelved. Those ###### motorcycles going down the sidewalk, the vendors blocking access to my favorite shops, people in the way and creating a mass of confusion, making it three times as difficult to get from point A to point B. But hey...that's why I am here. That is why I find this place so interesting, and that is why I stay. I like to say that "Every day in Bangkok is a different day"...because it is, and I am never bored. Frustrated sometimes, yes...but never bored. If things ran like they did back in my home country...I'd be out of here in a NY minute...!

For what it's worth...

Hey Leslie I hear you and I agree.

But then why a "privilege" card in such an environment ? we don't come to Thailand for the "Elite" card and knowing how cahotic Thailand is, wouldn't you agree that 1 million bath could be better spent locally on other things rather than a "privilege" card that everybody knows would be impossible to "maintain" in the long run.

[dr_Pat_Pong]

Are you against absolutely everything BITTER

[megashox]

I'm joining this discussion late - but I do have basic questions and would appreciate if somebody could enlighten me.

1. Does anyone know how you actually use the Card?

2. Do you show the Card to immigration on arrival?

3. Does the Card have a magnetic strip on the back to swipe? Or an embedded chip perhaps?

4. If I bought it, would my name be embossed on the Card or just laser printed like some cheap discount card?

5. Is there an Elite Club premises - somewhere the Cardholder could go for a drink or a game of pool?

6. So far, I havent' seen any establishments with a sticker or sign saying Elite Card accepted here. Are there any?

7. Is the Card fraud proof? Could someone steal the Card holders identity?

[Axel]

The card shows to be 999.99 gold.

Your name and member number on frnnt, your picture on back.

I thpought you have to apply for a visa, either abroad or at MFA, Immigration office. I know one member, who just returned. His card he had not yet received, but was met by Club members who brought him through immigration, where he got 90 days-Visa (all in Thai) with 'sgnature' Thailand Elite.

Duty free shops at BKK airport show the sign.

Believe I read somewher they want to open some club premises?

Frau proof? Staling I? Well, I am not sure, everything can be copied, but might be difficult.

I mentioned b4, for plain commercial reasons, I am not interested, albeit I was at one point.

My friend is enthusiastic, likes to have the limo waiting for him, likes to be carried through airport procedures on the way in and out. When he returned to BKK, the same rep where waiting as on the way out. Took him be electric car to the immigration point, to the lounge, thorugh customs. The limo (same driver as b4) was waiting and his luggage alreadu in the boot, picked up by the reps. while he was in the lounge.

Well, why not?

[KhunBoom]

The thingo has some great bennies for people with a bag full of baht. Now that expats will pay a little more so what. You probably make it back in the first day on a good real estate deal. Look at a land with no Capital Gain tax the difference in the value of a property purchased with or withouit the land. You don't have to be Donal Trump to figure that out! Right now the thing to do is buy the bugger before you apply for the retirement of wat ever visa you need. <deleted>, with the speed of visa's now 90 window is No Problemo! I like and can see how I would be a great deal for me in a reasonable window.

I like it! Big Time...I bet that carriew some juice with the Boys in Brown! I like that Too!

[p_brownstone]

I think you just have to look at the basic Maths:

Quote:

Paisit denied the firm was taking the measures because it was afraid of losing money. Income was sufficient to cover the Bt40,000 estimated maximum annual expense for each member, he said.

Unquote

Quote:

Proceeds from card sales are currently stashed in bank deposits but in the future an asset management company will be retained to invest its funds in the same manner as the Government Pension Fund. These idle funds represent 90-95 per cent of total reserves and the fund manager must make an annual return from investment of at least 6-7 per cent.

Unquote

If, just to cover the cost of benefits to Cardholders, the Company must make a Return on Investment of 4% (Baht 40,000 on Baht 1,000,000.- ) and is only expected to make a maximum of 7%, then the - at most - 3% is all that is available to cover day-to-day expenses (Office rentals and expenses, Salaries - including at least 2 Farang apparently), PLUS the cost of the promised "Roadshows" - Thai style Junkets for executives, wives and other hangers on - to promote the Card and attract more members.

It has all the markings of a Ponzi / Mae Chamoy scheme - so long as new "investors" are drawn in, their money can be utiulised to fund outgoings, once that income dries up, the whole thing folds, and the "Assets" including the Property "purchased" by Cardholders but actually still in the name of the Card Company or its' subsidiaries, are sold off at firesale prices to insiders to repay Creditors - quite possibly those very same insiders!

[Axel]

Yes, it is a snowball system. As long as regularly new members join and preferably members who do not come to Thailand too often, it will work.

The more members join now, the less income will be in the months and years (?) ahead. Costs per member 40000 maximum I do doubt, perhaps average.

The company, however, has regular administrationcosts besides the coverage for member spendings, at least in limo- and golf club gree fees.

Another question comes to my mind. IF you buy the card and charge your Thai-company, what effects does it have? Sure, you reduce your available cash by 1 million. But then you book the membership as a company asset, let's say for a 2 million-Baht company your capital consists of 1 million cash and 1 million club membership.

How to depriciate the amount? Over 5 years or? How does an accountant depreciate a life-time-value?

[dr_Pat_Pong]

Axel...on New Years Day... I had depreciated a great deal. Better now Luckily it ain't terminal

[maerim]

Luckily it ain't terminal

Terminal velocity is, that's why it's called terminal.

[dr_Pat_Pong]

The end is the end however it happens

[Pink Mist]

Talking about ending it, good idea Doc this ones going nowhere

[Payne]

The Elite Card is an excellent idea, but it hasn't taken off thus far because the so-called priveleges are not sufficiently attractive to encourage one to fork out $ 25,000 to purchase the card,

However, yesterday I heard at a business lunch in Bangkok that consideration is being given by the Thai Cabinet to allow Elite Card holders to hold up to one rai of land in their own name. If this goes ahead, you can bet that I will most certainly become an Elite Card member.

Prime Minister's Office please copy.

[Pink Mist]

The one Rai of land is pie in the sky it has been talked and talked about but in reality is not a reality. comment Leslie please

[Axel]

Axel...on New Years Day... I had depreciated a great deal. Better now Luckily it ain't terminal

Dr. only for one day?

I usually never depriciate after the holidays, just keep it on, like value added....

On a more serious note, does anybody know an answer to my question?

You buy the card and get a receipt in your Thai-company's name.

Now how do you book this and, yes, over how many years depriciation.

[dr_Pat_Pong]

Buy it in the company name and you as the nominee Axel. Hagovers last longer as one ages