Monday, August 21, 2017
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Investment in Ho Chi Minh’s property

Posted by pakin On July - 31 - 2017 ADD COMMENTS

Vietnam’s new residential housing law implemented on 1st July 2015 allows foreigners to buy properties in the country. This, coupled with infrastructure development such as the metro (MRT) system in Ho Chi Minh City (HCMC), new international airport by year 2025, and the Regeneration of Thu Thiem – the new CBD – “Pudong” of HCMC, will contribute to upside in HCMC’s property market. If you are considering investing in HCMC properties but are not familiar with the city, this is a great opportunity for you to learn from a local expert.

Ho Chi Minh Citys property Investment Seminar

By Golden Emperor Properties

Date: Saturday 5th Aug, 2016
Time:  2 PM – 4 PM
Venue: Anantara Siam Bangkok Hotel  (Room: Montathip3)
Cost: Free
Register online: http://goldenemperor.com/seminar_eng

Topics to be covered at the seminar:

  1. Understanding Vietnam’s new residential housing law for foreigners (i.e. who are eligible to purchase, what are the restrictions, and whether one can purchase under one’s own name or a company, etc.).
    2. The impact of the new (MRT) Metro Lines, new airport and regeneration of Thu Thiem (The new CBD- “Pudong” area of HCMC), on the HCMC property market.
    3. Investment hotspots in HCMC: an analysis of various locales within the city will be provided with a summary of the investment favourites.
    4. Updates on the current HCMC property market including an economic impact study.
    5. Relevant procedures and costs for property investments in HCMC.
    6. Infrastructure developments in HCMC and their impacts on the property market.
    7. Vietnam property market trends and forecast.
    8. Capital gains and exit procedures for HCMC property investments.
    9. Tips for first time buyers.

 

Government slams call for rice checks

Posted by pakin On July - 31 - 2017 ADD COMMENTS

Government spokesman Sansern Kaewkamnerd has accused politicians and rice mill owners who are calling for a new inspection of rice stocks under the controversial rice-pledging scheme of being part of a politically-motivated movement.

Lt Gen Sansern said it was no coincidence the movement comes just before the Supreme Court’s Criminal Division for Holders of Political Positions is to hand down its ruling in the rice-pledging case against former prime minister Yingluck Shinawatra on Aug 25.

“This could be seen as an attempt to create some kind of impact on the case or a bid to draw public sympathy for Ms Yingluck,” he said.

“The Commerce Ministry has already explained on several occasions its principles in releasing the rice under the scheme,” he added.

He said some groups are still attempting to claim that good-quality rice has been sold along with the bad-quality stock, which made the rice prices drop.

“The irony is that most of these groups will actually be held responsible for losses associated with bad-quality rice kept at the scheme’s warehouses,” he said.

Previously, the owners of eight rice warehouses had called on the government to conduct a new round of quality checks on rice under the scheme, saying they weren’t confident in the results of past inspections conducted by officials.

According to warehouse owners, normal rice was auctioned along with rice used for producing animal feed, which is a waste of money.

They claimed they weren’t aware of the government’s intention to sell the rice as ingredients in animal feed until the days on which the auctions were held.

They added their move should help prevent further losses that could be worth several billion baht.

Itsaraphon Khongchawi, the owner of Worachot warehouse in Ang Thong, was the first to come up with a call for new inspection of the rice, saying she was confident the rice kept at her warehouse under the rice-pledging scheme was of good quality and was never intended to be sold as animal feed.

She said she had not been aware that one stack of C-grade rice at the warehouse would be sold along with four other stacks of rice graded as A and B — edible to humans — as animal feed.

If this 6,000 tonnes of rice is sold as animal feed, the government will face a further loss of at least 30 million baht, Ms Itsaraphon said.

The owner of Thawon Chokchai rice warehouse in Saraburi said although one half of the stock at his warehouse is of good A-grade quality while the other half is of C-grade quality, a random test conducted in 2014 showed all the rice in this warehouse was of C-grade quality, which has to be sold as animal feed.

According to the owner of Kit Charoen Sap warehouse in Lop Buri, given the 5.7 million tonnes of rice already sold as animal feed, the government is estimated to have lost more than 2 billion baht.

Wongwirot Palawat, the owner of Charoen Prapha warehouse in Lop Buri, insisted the move to call for a new inspection of the rice stock by the eight warehouse owners wasn’t politically motivated.

“The Department of Foreign Trade (DFT) has always responded in a formal letter to every complaint by these owners of rice warehouses and mills as well as the surveyor companies contracted to handle rice quality inspections,” DFP director-general Duangporn Rodphaya said.

“More importantly, these warehouses are the ones facing lawsuits lodged against them by both the Public Warehouse Organisation and the Marketing Organisation for Farmers over the substandard quality of the rice kept there under the rice scheme.

“Official results of the rice inspection that began in 2014 have been made public and used as evidence to pursue legal action against those who are held responsible for the damage in the rice scheme.

“At this point the eight warehouses have the right to make legal arguments and back their arguments with whatever facts they may have, but they won’t be able to request for new inspection of the rice as that process has already passed.”

“Nor do they have any right to suspend the government from selling the rice as the longer the rice sale is delayed, more damage will occur to the state,” she said, adding that the sales of rice from the eight warehouses have been completed under the rice policy and management committee’s resolution.

 

Manila -Long regarded as an inspiration to Filipino soldiers, boxer-turned- senator Manny Pacquiao spent some time with government forces fighting Islamic State-inspired extremists in Marawi.

Senator Manny Pacquiao visited Marawi City on Saturday to boost the morale of Philippine troops fighting against ISISinspired Maute terrorist groups.

Pacquiao arrived at around 9:00 a.m. at Camp Ranao where officials of the Task Force Marawi welcomed him, Radyo Inquirer reported.

“You are fighting for our country. You are not committing sin even though you kill people. You don’t commit sin in the eyes of the Lord because you are doing your duty,” Pacquiao told the soldiers in Camp Ranao.

Isaan feels wrath of tropical storm

Posted by pakin On July - 31 - 2017 ADD COMMENTS

Emergency teams evacuate trapped and work to clear flooded areas hit by landslides.

FLOODS AND heavy rains brought by tropical storm Sonca continued to wreak havoc in upper parts of Thailand, particularly the Northeast yesterday.

Prime Minister General Prayut Chan-o-cha instructed officials to aid flood victims and clear flooded or landslide-blocked roads or railways and provide alternative transportation for people, said Government Spokesman Lt-General Sansern Kaewkamnerd.

Most parts of Sakon Nakhon city and roads were submerged while Sakhon Nakhon Airport announced it would temporarily close until this afternoon or until the flood situation improved. Some parts of the city also had electricity blackouts. Sakon Nakhon Hospital had to move patients to upper floors away from the flood.

Sakon Nakhon disaster prevention and mitigation office head Nitiwat Nitthinanthan said that over 100 flood victims had moved into a temporary shelter at the provincial administrative organisation stadium. He said people trapped in flooded homes should call the flood command centre’s number at 0 4271 1171 for help.

The command centre at the provincial governor’s residence would monitor the situation and dispatch staff and tools to aid affected residents, he added.

In Nakhon Ratchasima, 229 villages in five districts of Theparak, Prathai, Sida, Bua Lai, and Noen Daeng were submerged. Worst-hit Prathai reported 15,800 residents affected, and 28 roads, three reservoirs and 28,000 rai (4,480 hectares) of farmland under water.

In Khon Kaen’s Muang district, floodwater as deep as one-metre hit the city area on Thursday afternoon, especially Maliwan Road, where 30 cars were damaged. Road islands were demolished by the authority to help drain floods faster.

Days of heavy rains and northern runoffs have led to the Yom River bursting the flood barrier dam in Sukhothai’s Muang district, sending 80cm-deep floods to the Muang Sukhothai Municipality’s fresh market yesterday morning. The flood barrier had leaked the night before, resulting in slight flooding, but officials sealed the hole with large sandbags and continued to monitor the situation.

At 5am, the river bust the flood barrier again, 30 metres from the previous night’s leak. This time the floodwaters flowed along the Ratchathani Road and vendors at the market’s 50 shops had to close their businesses temporarily in the wake of 40cm- to 80cm-deep torrents.

As officials attempted to seal the new leak behind Wat Chai Chumpol in the afternoon, another 100-metre-long section of the barrier broke and floods covered the municipality’s economic area, including Rat-uthit, Thassanapanich roads. Wichien Jamnong and Khlong Taphetch communities were also submerged.

Yom River in front of the provincial governor’s residence was at 7.37 metres and flowed at 549 cubic metres per second between 8am and 2pm.

Royal Irrigation Department deputy chief Thongplew Kongchan cited a report by the Smart Water Operation Centre that noted the largest volume of water in the Yom River had passed Sukhothai’s Sri Satchanalai district via Ban Hat Saphan Chan sluice gate at 697 cubic metres per second at 4am yesterday.

The department was diverting water through Khlong Hok Baht at 170 cubic metres per second to help lessen flood risk to the Muang Sukhothai Municipality area by keeping it at a “manageable” level of under 550 cubic metres per second.

In Maha Sarakham, the widespread flooding has prompted the Highway Department to temporarily close two bridges on Highway 208; the bridges at kilometre markers 12+400 and 17+137 were under 50 centimetres of water and showing signs of erosion. Motorists are advised to instead use other routes.

Permanent Secretary for the PM’s Office Jirachai Moontongroy said his office’s fund to aid disaster victims was currently Bt700 million from previous flood donations.

He said the fund committee would have a meeting on August 4 to consider criteria to compensate and assist flood-affected residents nationwide.

He said each province had a Bt20 million budget reserved for disaster mitigation from the Interior Ministry, so they would consider providing aid as soon as possible.

 

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