Integrity Legal

It recently came to this blogger’s attention that Apple Inc. and the Korean firm Samsung are apparently working in cooperation in order to fashion the next generation of PC tablets. In order to provide further insight it is necessary to quote directly from The Korea Herald via the Asia News Network:

Apple Inc’s chief operating officer Tim Cook discussed adopting Samsung’s AMOLED display technology for tablet PCs during his recent visit to South Korea, industry sources said…Tim Cook is not only the COO, but also acting CEO of Apple. During Cook’s trip last week, Apple seems to have offered Samsung an advance for the AMOLED displays, the source said…

It is recommended by the administration of this blog that readers click upon the hyperlinks noted above to read this article in further detail.

As technology continues to be a defining component of a more dynamic global economy there is hope that cooperation between American and Asian technology firms will result in further technological as well as economic advances. Concurrently, such cooperation is likely to also manifest itself in the form of better computing platforms for the general public.

It is interesting to note that while Northern Asia, especially Northeastern Asia has seen industrial advances the Southeast Asian region continues to show growth in the agricultural sector. This has arguably been the case in the Kingdom of Thailand for quite some time. However, there seems to be evidence to indicate that agricultural growth is expanding into the neighboring countries, such as Cambodia, which also happen to be members of the Association of Southeast Asian Nations (ASEAN). Most notably, it would appear that a company in the Kingdom of Thailand is poised to undertake a new venture in the Kingdom of Cambodia with the aim of increasing rice production therein. For further elucidation this blogger must quote directly from the official website of The Bangkok Post:

Asia Golden Rice Co, Thailand’s second-largest rice exporter, has mapped out a 1.5-billion-baht rice investment in Cambodia in a bid to expand regionally…The plan includes modern, fully equipped milling and processing plants with a capacity to process up to one million tonnes of rice per year, and is considered a milestone investment in rice industry of Cambodia, the world’s sixth largest rice exporter…

It is once again recommended that readers click upon the hyperlinks noted above to read further on these developments in detail.

The overall ramifications of this plan remain to be seen. That stated, there is certainly room for speculation that a venture such as the one described above could have positive benefits for ASEAN as well as Asia as a whole. Since many countries around the globe import rice from Southeast Asia one could surmise that increased production could drive down the cost of rice internationally and thereby benefit rice consumers around the world.

For related information please see: ASEAN.

Tags: American Business, ASEAN, ASEAN Business, ASsociation of Southeast ASian Nations, Cambodia Business, Korea Business, Thai Business, Thailand Business
Posted in American Business, ASEAN Business, Cambodia Business, News, Thailand Business, Thailand company, US Business, US Mission ASEAN | No Comments »

Those following this blog with any frequency may have by this point noticed that the blog has been monitoring the crisis situation in Japan in some depth while failing entirely to provide any information regarding the Earthquake that recently occurred in Shan State, Myanmar (Burma). The administration apologizes for the oversight. To quote directly from the official website of the Montreal Gazette at MontrealGazette.com:

YANGON. A strong earthquake struck Burma near the Thai border on Thursday, killing at least two people, including a child, officials from both countries said, with shaking felt across the region.

Terrified residents fled their homes, tall buildings swayed and hospitals and schools were evacuated after tremors spread as far away as Hanoi, parts of China and Bangkok, almost 800 kilometres from the epicentre.

Local relief workers in eastern State Sate said on Saturday that the death toll from the powerful earthquake that shook Shan State on Thursday night could very likely rise to more than 150. Burma’s state media reported on Saturday that 73 people had died as a result of the 7.0 magnitude tremor and its subsequent aftershocks on Thursday and Friday.[sic]

Tags: ASEAN Business, Burma Business, Burma Earthquake, Cambodia Business, China Business, Earthquake Burma, Earthquake Myanmar, Earthquakes in Asia, Laos Business, Malaysia Business, Myanmar Business, Myanmar Earthquake, Shan State, Singapore Business, Thailand Business, Vietnam Business
Posted in Myanmar (Burma) Business | No Comments »

The tragic situation in Japan (a country recently plagued by Earthquakes, Tsunamis, Volcanoes, and finally Nuclear Meltdown)  is apparently causing other nations in East Asia and Southeast Asia to rethink their options with regard to the proliferation of nuclear power plants. A recent posting on the website AsiaOne.com discussed some of these issues in some detail. To quote directly from the website AsiaOne.com:

Singapore – Japan’s nuclear crisis is likely to prompt Southeast Asian states to look more carefully at their plans to tap atomic energy for power generation, the head of the regional bloc said Monday.

Association of Southeast Asian Nations (ASEAN) secretary-general Surin Pitsuwan said Japan’s struggle to prevent a reactor meltdown at the Fukushima nuclear power plant will have a “psychological” impact on some ASEAN members.

“They will continue to explore, but I think the sense of urgency will certainly be contained a little bit,” Surin told reporters on the sidelines of a regional economic conference in Singapore.

The administration of this blog highly encourages readers to click on the links above to read more of this article.

Clearly, a disaster of the magnitude of the events unfolding in Japan can have a tremendous “psychological” effect around the world, but what is interesting about the above quotation is the fact that the Association of Southeast Asian Nations (ASEAN), a regional organizations that is becoming increasingly important in geopolitical matters, seems to be uniformly ambivalent towards nuclear power as of the time of this writing. Meanwhile, the Kingdom of Thailand, an important member of the Association of Southeast Asian Nations (ASEAN), is rethinking its position on the issue of nuclear power. To quote directly from Eco-Business.com:

Thailand has frozen its plans to build its own nuclear power plants in the wake of the ongoing nuclear crisis in Japan following a series of meltdowns at the quake-hit power complex in Fukushima.

Thai Deputy Prime Minister Suthep Thaugsuban announced yesterday that the government would indefinitely halt all plans to build nuclear facilities in the Kingdom.

Again readers are highly encouraged to click on the links above to read more from this posting.

In this blogger’s personal opinion, this decision to “freeze” plans for a Thai nuclear plant is both prudent and necessary. The decision is prudent because it provides the Thai government and people the opportunity to watch the events in Japan unfold. This will provide the Thais with the opportunity to see the extent of the problem in Japan and this opportunity will allow Thai authorities to take a firsthand look at the possible dangers inherent in constructing and maintaining a nuclear facility. Such measures are necessary because failure to be prudent could be costly later, as evidenced by the situation in Japan. This nuclear disaster in Japan is obviously no one’s “fault,” but perhaps failure to take into consideration the fact that Japan, and the reactors present therein, is situated upon one of the most tectonically active locations on Earth may help to explain the nuclear disaster. At this time, fixing the blame for this tragedy should not be at the forefront of people’s minds as the brave Citizens of Japan struggle to overcome this situation, but evaluating the proliferation of nuclear facilities in the ASEAN with a critical eye may help avoid such tragedies in the Southeast Asia of the future.

As economic activity in the ASEAN region, China, Thailand, Laos and Cambodia expands it stands to reason that energy needs will remain an acute concern for the business community as well as governmental authorities, but such considerations would appear to be being weighed in light of the recent events in Japan, as well they should be.

For related information please see: business in China.

Tags: ASEAN, ASEAN Atomic Energy, ASEAN Business, Asian Business, ASsociation of Southeast ASian Nations, Atomic Energy in Asia, Burma Business, Cambodia Business, China Business, Fukushima, Japan Crisis, Japan Nuclear Meltdown, Laos Business, Myanmar Business, Nuclear Disaster, Nuclear Energy in Asia, Surin Pitsuwan, Suthep Thaugsuban, Thailand Business
Posted in ASEAN Business, Cambodia Business, Laos Business, Myanmar (Burma) Business, Thailand Business | No Comments »

The administration of this blog recently noticed an article from the Reuters news agency in which the Chief Executive Officer of General Electric was commenting upon the economic situation in China and how this impacts the relationship between the United States of America and Peoples’ Republic of China in both the economic and political spheres. To quote directly from the Reuters News Service:

(Reuters) – For Jeff Immelt, the CEO of General Electric (GE.N), the 130 year-old American industrial behemoth, the financial crisis marked the end of the age of America’s economic dominance.

This blogger has noticed that there seems to be a level of pessimism regarding the American economy. Although it is currently going through economic turbulence, and has been for a while, the US economy, in this blogger’s opinion; remains one of best countries in the world for trade and economic activity. Those doing business in the USA may enjoy the benefits that come from the American financial, economic, and physical infrastructure. Hopefully, the optimism for which America has, in the past, been noted for will return once the economy returns to an “even keel”. Reuters continues:

But Mr. Immelt said the future will be different. For the next 25 years, he said, the American consumer “is not going to be the engine of global growth. It is going to be the billion people joining the middle class in Asia, it is going to be what the resource-rich countries do with their newfound wealth of high oil prices. That’s the game.”

A lot of that game will be played in China. At a moment when it is compulsory on the American right to pay homage to the exceptionalism of the United States, Mr. Immelt, a lifelong Republican, is matter-of-fact about China’s inevitable rise.

The interesting piece of information that this blogger noted in the aforementioned article was the fact that the G.E. CEO took notice of the fact that the middle class is growing rapidly in Asia. The thought of an Asian middle class numbering 1 billion or more is truly staggering when one takes into account the economic impact of such growth. As Asians in general become more affluent the side effects will likely be increased trade and economic activity as these newly minted members of the middle class use their new found wealth to make purchases of property, goods, and services (in Asia, the EU, UK, and the United States). The most poignant line of this Reuters article, in this blogger’s opinion was:

“It is going to be the biggest economy in the world,” Mr. Immelt said of China. “The only question is when.”

There is little doubt that China has an incredible capacity for growth and those looking international investment or business opportunities are well advised to research the Chinese market. That said, China does not represent the only country in Asia which has economic opportunities that are becoming more readily available to investors and entrepreneurs due to globalization. The Kingdom of Thailand, a member of the Association of Southeast Asian Nations (ASEAN), has investment opportunities in the form of Thai Property, Thai Real Estate, and Thai businesses. Furthermore, for Americans conducting business in Thailand can prove profitable especially since the US-Thai Treaty of Amity allows Americans to own virtually 100% of a Thai Company with Amity Treaty certification (sometimes referred to as an Amity Company).

Meanwhile, the landlocked country of Laos recently opened a Lao Securities Exchange in an effort to raise capital through equity investment. The Kingdom of Cambodia recently announced that a Cambodian Stock Exchange is to be unveiled in mid-2011 while recent reports have noted that Burmese officials hope to be in the process of creating a Myanmar Stock Exchange as well. Such developments remain to be fully realized, but such examples clearly indicate that Mainland China is not the only “game in town” when it comes to investment opportunities and economic growth in Asia.

For related information please see: US Company Registration.

Tags: American Amity Treaty, American Amity Treaty Thailand, Amity Company, Amity Treaty Company, Burma Stock Exchange, Cambodia Business, Cambodia Securities Exchange, Cambodia Stock Exchange, China Business, China Economic Growth, G.E. CEO, General Electric, Jeff Immelt, Lao Securities Exchange, Lao Stock Exchange, Laos Business, Myanmar Securities Exchange, Myanmar Stock Exchange, Thai Company, Thailand Business, Thailand company, US Amity Treaty Thailand, US-Thai Treaty of Amity
Posted in Amity Treaty, Cambodia Business, China Business, Laos Business, Myanmar (Burma) Business, News, Opinion, Thailand Business, Thailand company, Thailand Property, Thailand Real Estate, US Business, US Company Registration | 1 Comment »

It recently came to this blogger’s attention, via the print media in Bangkok, Thailand; that the Association of Southeast Asian Nations (ASEAN), along with other organizations and individuals, are calling for an end to the economic sanctions being imposed against the Union of Myanmar (sometimes interchangeably referred to as Burma). While researching this issue online this blogger came upon the following quotation from Rttnews.com:

An informal meeting of the Foreign Ministers of the Association of Southeast Asian Nations (ASEAN) has called for the lifting of economic sanctions against the military regime of Myanmar.

The meeting, held on the Indonesian island of Lombok, made the call citing “significant” political progress made in the south-east Asian country.

Indonesian Foreign Minister Marty Natalegawa, whose country holds the rotating chair of the ten-nation organization, told reporters: “We believe that the recent development needs to be responded by the international community, especially in order to ensure that the economic development in Myanmar can take place.”

He says ASEAN Ministers feel that the recent long-awaited Myanmar elections, which he described as “conducive and transparent, and the release of Opposition leader Aung San Suu Kyi warranted a positive international response.

The lifting of the sanctions against Myanmar still remains to be seen, but in the wake of the announcement from ASEAN the Straits Times official website is reporting that authorities in Myanmar are taking steps toward creating a stock exchange in Myanmar. To quote directly from the Straits Times website StraitsTimes.com:

BANGKOK – MYANMAR is in talks with South Korea’s bourse operator about opening a stock market, the latest in a series of steps by its military rulers aimed at drawing much-needed foreign capital to the country.

Korea Exchange is already involved in running the newly opened Laos Securities Exchange and is setting up a long-delayed stock market in Cambodia, which is due to open in July. Both are joint ventures with the respective governments.

In previous postings on this blog, the administration has discussed the unveiling of a Stock Exchange in Laos and the announcement that a Cambodian Securities Exchange is set to be opened in mid-2011. In the case of Myanmar, it would appear as though any plans for the eventual creation of a Myanmar securities exchange are still tentative as can be gathered from a further quote in the Straits Times posting:

A spokesman for Korea Exchange in Seoul said representatives had visited Myanmar twice. ‘But nothing has been decided,’ the official said.

Although the opening of a Myanmar Securities Exchange is not a foregone conclusion, there are many who can cite the myriad economic benefits that would accrue as a result of such a step. Furthermore, there are those who would argue that creation of economic opportunities in Myanmar would be beneficial for all Citizens of Myanmar based upon a sort of “rising tide raises all ships” logic. To quote further from the Straits Times:

Myanmar is rich in natural resources but its development has been held back by five decades of economic mismanagement under military dictators and by Western sanctions.

But reforms are under way. The authorities have privatised hundreds of state assets in the past year and are seeking to expand the banking, telecommunications, shipping and agricultural sectors. — REUTERS

Myanmar is truly a cornucopia of natural resources and economic opportunity, but at the time of this writing many nations, including the United States of America, have sanctions against this Southeast Asian nation which prohibit certain forms of commercial activity. There are some who argue that such sanctions actually exacerbate the plight of impoverished Myanmar Citizens. Such an argument generally postulates that easing of foreign trade restrictions, and the economic benefits which would likely arise from such a state of affairs, would accrue to the benefit of many of the market actors in Myanmar, many of whom live in poverty. Under such a theory, economic benefits would not necessarily exclusively accrue to the upper echelon of Myanmar as the less affluent would likely benefit, albeit indirectly, from the infusion of foreign capital, trade goods, intellectual property, and the further economic activity arising therefrom.

Even though a securities exchange in Myanmar may be merely in the discussion phase and is a long way from being created, those interested in doing business in Myanmar, or any other country in Southeast Asia, should take note of the information above as there are many who would argue that Myanmar will likely play a critical role in regional and global economics as well as trade.

For related information please see: US Company Registration, US Visa Myanmar, or Laos Securities Exchange.

Tags: ASEAN, Asia Business News, ASsociation of Southeast ASian Nations, Burma Business, Burma Business News, Burma News, Burma Securities Exchange, Burma Stock Exchange, Burmese Securities Exchange, Burmese Stock Exchange, Cambodia Business, Korea Exchange, Laos Business, Laos Securities Exchange, Laos Stock Exchange, Myanmar Business, Myanmar Business News, Myanmar News, Myanmar Securities Exchange, Myanmar Stock Exchange, Southeast Asia Business News, Thailand Business
Posted in Myanmar (Burma) Business | No Comments »

Those who track this blog may have noticed that there has been an increase in political activities which have disrupted the otherwise calm political and economic environment in the Kingdom of Thailand. There are many who feel that these disruptions are only temporary and will not prove detrimental over the long term. In the short term, individuals and businesses in Thailand are analyzing some new risks which have manifested themselves over the past 9-12 months. To quote directly from Westlawbusiness.com:

Several companies have recently disclosed risks arising from the political turmoil in Thailand. For example, Priceline.com, an online hotel auctioneer, recently disclosed that “civil unrest in Thailand, a key market for our Agoda business and the Asian business of Booking.com. This may result in “significant year-over-year declines in booking volumes in this market….Thailand has experienced disruptive civil unrest in prior years as well and continued or future civil or political unrest could further disrupt Agoda’s Thailand-based business and operations.”

Communication cable manufacturer General Cable is also reporting that it is subject to business risk arising from unrest in Thailand. The copper, aluminum, and fiber optic wire and cable products provider recently disclosed that its “business is subject to the economic, political and other risks of maintaining facilities and selling products in foreign countries. . . Thailand recently experienced significant political and militant unrest in certain provinces. The country’s elected government was overthrown in September 2006, with an elected government only recently restored.” [emphasis in original]

Political turmoil can have substantial unforeseen consequences for some businesses and business models operating throughout Asia. This is why retaining the assistance of local legal counsel can be advantageous for multinational corporations as professionals with on-the-ground knowledge of local business customs and practices can guide clients away from unforeseen legal, and in some cases; business, risks.

There are many, this author included, who feel that the current political turbulence in Thailand is simply a “bump in the road” eventually leading to overall tranquility and economic prosperity in the Kingdom of Thailand as well as the South East Asia region. Bearing that in mind, those wishing to establish a business or corporate presence in Thailand are well advised to conduct research and due diligence before making irrevocable business decisions as  maintaining a corporate presence in Bangkok, or the emerging markets in Cambodia, Laos, Burma (Myanmar), Malaysia, and Vietnam can be fraught with unforeseen legal and business issues which may not arise in jurisdictions such as the United States, the European Union, the United Kingdom, Australia, or Canada.

Many wishing to do business in Thailand opt to do so under a Thai Limited Company as this type of juristic person provides a measure of limited liability. Limited Liability is often one of the first methods employed by those wishing to hedge against unforeseen future business risks. American businesses may also enjoy many benefits pursuant to the language of the US-Thai Treaty of Amity. Regardless of the type of corporate structure, any foreigner wishing to work in the Kingdom of Thailand must obtain a Thai work permit prior to taking up employment pursuant to Thai labor law.

For related information please see: Bangkok Lawyer or Amity Treaty Company.

Tags: Amity Treaty Company, Asian Business, Bangkok Business, Bangkok Lawyer, Bangkok Riots, Cambodia Business, Malaysia Business, Myanmar Business, Southeast Asian Business, Thai Business, Thai Company Incorporation, Thai Company Setup, Thai Limited Company, Thailand Business, Thailand Business Risks, Thailand Company Formation, Thailand company registration, Thailand Political Turbulence, Upheaval in Thailand, US-Thai Treaty of Amity, Vietnam Business
Posted in Amity Treaty, Ecommerce, Thailand Business, Thailand company, Thailand Work Permit, US Business | No Comments »