Section 44 to be used to improve ease of doing business in Thailand

The National Council for Peace and Order (NCPO) is looking to invoke Section 44 to facilitate business procedures in the country in hopes of securing a better ranking on the ease of doing business this year.

Deputy Minister of Commerce Sontirat Sontijirawong revealed that the government has been making efforts to provide more convenience for business operators ahead of the World Bank Group’s issuance of its Ease of Doing Business Index report in May. He said the Department of Business Development has recently reduced business registration procedures to shorten the processing time to only two days and a half, expecting the move to push up Thailand’s ease of doing business ranking.

Nevertheless, Mr Sontirat noted that the processing of paperwork for newly-registered companies by the Department of Labor Protection and Welfare still requires up to 21 days, which could affect the upcoming evaluation. Therefore, the NCPO is planning to use Section 44 of the interim constitution to ensure that related laws, including the Labor Protection Bill and the Social Security Bill, are enacted in time.

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Reporter : Surapan Laotharanarit Rewriter : Surapan Laotharanarit National News Bureau & Public Relations : http://thainews.prd.go.th

Shah Rukh Khan, Juhi Chawla get ED notice for 73cr Fema ‘violation’

MUMBAI: The Enforcement Directorate (ED) has issued a show cause notice to IPL team Kolkata Knight Riders (KKR) promoters, Shah Rukh Khan, his wife Gauri and actor Juhi Chawla on Friday for violating Foreign Exchange Manage Act (Fema) rules.

The KKR team promoters allegedly sold their shares in the company to a Mauritius-based company at lower prices in 2009, that caused Rs 73.6 crore foreign exchange loss to the government. The Mauritius-based company, The Sea Island Investment Ltd (TSIIL), was owned by Jay Mehta, husband of Juhi Chawla.

Earlier, the ED had recorded Shah Rukh’s statement in the case along with others concern. The ED investigated the violations and money involved after examining the relevant documents on the basis of which it concluded the forex loss amount. The agency then filed a complaint against Knight Riders Sports, Shah Rukh, Gauri and Chawla – who were managing the company – before the special director ED, Vineet Agarwal, who is also the adjudication authority (quasi judicial authority) in the case.

The officials will call the IPL team promoters for their final hearing in two weeks and accordingly decide the penalty for violating Fema rules. The maximum penalty in the case will be three times the loss amount.

“Based on the complaint, notices have been issued to the KKR team promoters to start the adjudication proceedings” said an officer.

The ED had registered a case against KKR and three other IPL teams under Fema and summoned Khan twice in the past to record his statement. But the actor was busy with his film schedule and recorded his statement on November 2015.

 

 Khan reportedly told the officials that in 2009, the IPL and KKR were not profit making ventures and accordingly they evaluated the share prices at that point of time. He denied any wrongdoing in the process and stated that valuation of shares increased afterwards. But the ED officials were not convinced with his explanation.

 

According to the ED case, initially, Shah Rukh and Gauri’s company Red Chillies owned the entire shareholding of KKR. After the success of IPL, 50 lakh shares were issued to TSIIL and 40 lakh shares to Chawla. These shares were allotted at a par value of Rs 10, although the actual value of these shares was much higher.

Chawla subsequently sold her 40 lakh shares to her husband’s company SIIL on the same rate. Thus, TSIIL got 90 lakh shares of KKR at Rs 10 a share whereas the actual cost of each share ranged between Rs 86 to Rs 99. The ED concluded that it caused Rs 73.6 crore foreign exchange loss to the government.

Source: http://timesofindia.indiatimes.com/india/srk-juhi-get-ed-notice-for-73cr-fema-violation/articleshow/57820636.cms
Four ministries join to enhance local businesses with digital tools

Four state agencies have joined hands to support local business operators towards economic strength in line with the Thailand 4.0 agenda.

Minister for Digital Economy and Society Pichet Durongkaveroj stated after the signing of a Memorandum of Understanding (MOU) for the support of local business operators that his ministry, the Ministry of Agriculture and Cooperatives, Ministry of Commerce and Ministry of Education have committed to working together to ensure lifelong education via digital technology in satisfaction of government policy for the use of technology to strengthen the nation’s economic foundations.

The effort will be divided among the ministries with the digital ministry to establish infrastructure for the learning, the ministry of agriculture to support products of local farmers through innovations, the ministry of commerce will provide an electronic marketplace for the products and the ministry of education will oversee the use of digital tools for learning. Private company DTAC has also agreed to work with the offices in the program and will support wireless internet connectivity.

Permanent Secretary for Agriculture Theeraphat Prayunsitthi remarked his office joined in the effort because of the success of its 882 Center program, which provided farmers with digital knowledge and online commerce tools.

The Ministry of Education meanwhile, pointed out it has already been able to produce over 10,000 digitally literate individuals across the nation who can go forth to aid in promoting online commerce. It has also set up 7,424 digital centers nationwide where local producers can access the internet for both studies and commercial purposes.

by [Photo.PK] fb.com/photopk

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Reporter : Itiporn  Lakarnchua Rewriter : Itiporn  Lakarnchua National News Bureau & Public Relations : http://thainews.prd.go.th

Once again RMC GEMS receives the Highest Exports award by GJEPC

The Gem & Jewellery Export Promotion Council (GJEPC), Mumbai had organized their 43rd annual Award function on 18th March’ 2017 at Mumbai, India. Mr NIRMAL BARDIYA , the Chairman of M/s RMC GEMS INDIA LIMITED, JAIPUR has been awarded  for the highest export of Colored Gem Stones during 2015-16 by Honorable Chief Minister of Maharashtra, Mr. Devendra Fadnavis.

RMCGEMS has been receiving this prestigious award continuously for the last six years.  RMC GEMS has also been honoured with the Award “Manufacturer of the year – colored Gem stones” from JNA Hong Kong in 2015 & 2016. RMC GEMS is well placed amongst the largest exporters regularly exporting to U.S.A., Europe, Hong Kong, Thailand, Japan and many others.

Nirmar Bardiya of RMCGEMS receiving the prestigious ‘Highest Export GJEPC” award from the Honorable Chief Minister of Maharashtra, Mr. Devendra Fadnavis

Govt to unveil new SME aid funds

The Ministry of Industry is preparing to unveil new multi-billion baht funds to bolster small and medium enterprises (SMEs) while enlisting the help of Japan and South Korea on SME development.

Industry Minister Uttama Savanayana disclosed that the Ministry of Industry and related agencies would be holding an event to release three SME aid funds worth 37 billion baht from March 10th to 12th at the Queen Sirikit National Convention Center. The first budget of 20 billion baht will be handed out to more than 2,000 SME operators, based on the civil state management principle.

The Office of SMEs Promotion will take the opportunity to debut its SME rehabilitation project involving the disbursement of two billion baht in aid. The SME Development Bank will also launch a soft loan project called SME Transformation Loan to grant SME operators urgent access to an assistance fund of 15 billion baht, in addition to offering investment and financial advice.

Meanwhile, the Ministry of Industry is holding talks with Japan and South Korea, the model countries for SMEs, as part of the effort to strengthen and internationalize Thailand’s SMEs through the use of technologies and innovations. The three nations are expected to conclude the talks and sign an agreement by April.

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Reporter : Vipaporn Pooritanasarn Rewriter : Thammarat Thadaphrom National News Bureau & Public Relations : http://thainews.prd.go.th

Smart Startup 2017 kicked off in Bangkok

The Ministry of Commerce and its partners has organized Smart Startup 2017 in support of the Creative Thailand plan, presenting a platform for Thai businesses to discuss working the 4.0 era.

Minister of Commerce Aphiradee Tantraporn said Smart Startup 2017 is being held under the concept “Opportunities in a New Business Era” and will focus on connecting SMEs and Startups. The event is in line with government policy to alter the Thai economy’s structure to enhance its competitiveness and to drive existing businesses towards being Smart Enterprises.

The event is divided into 4 zones; New Vision New World, Smart Business Solution, Idea Commercialization and New Economy Dialogue 2017. It will bring together business leaders from both Thailand and throughout the CLMV region, the US and Japan. It is running from today to February 18 at Royal Paragon Hall of Siam Paragon.

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Reporter : Itiporn  LakarnchuaRewriter : Itiporn  Lakarnchua National News Bureau & Public Relations : http://thainews.prd.go.th

No more extravagant wedding? Bill in Lok Sabha seeks cap on guests

A Bill in the Lok Sabha seeks to put a limit on the number of guests to be invited and dishes to be served in weddings to check “show of wealth” and wants
those spending above Rs 5 lakh to contribute towards marriages of poor girls.

If a family spends above Rs 5 lakh on a wedding, it has to contribute 10 per cent of the amount on marriages of girls from poor families, according to the Bill introduced by Congress MP Ranjeet Ranjan, wife of MP Pappu Yadav.

The Marriages (Compulsory Registration and Prevention of Wasteful Expenditure) Bill, 2016, may be taken up as a private member’s Bill in the upcoming Lok Sabha session.

The purpose of this Bill is to prohibit extravagant and wasteful expenditure on marriages and to enforce simpler solemnisation, Ranjeet told PTI.

“Great importance should be assigned to the solemnisation of marriage between two individuals. But unfortunately, these days a tendency of celebrating marriages with pomp and show and spending lavishly growing in the country.

“These days, marriages are more about showing off your wealth and as a result, poor families are under tremendous social pressure to spend more. This is needed to be checked as it is not good for society at large,” she said.

The Bill seeks that “if any family intends to spend more than Rs 5 lakh towards expenditure on marriage, such family shall declare the amount proposed to be spent in advance to the appropriate government and contribute 10 per cent of such amount in a welfare fund which shall be established by the appropriate government to assist the poor and Below Poverty Line families for the marriage of their daughters”.

It says that after this proposed legislation comes into force, all marriages shall be registered within 60 days of the solemnisation.

The government may fix the limit of guests and relatives and number of dishes to be served to the guests and relatives for solemnisation of marriage or for the reception held thereafter as it may deem necessary or expedient to prevent the wastage of food items, it adds.

 

Source: http://timesofindia.indiatimes.com/india/no-more-extravagant-wedding-bill-in-lok-sabha-seeks-cap-on-guests/articleshow/57171346.cms?utm_source=facebook.com&utm_medium=referral&utm_campaign=TOI

Box Office: You won’t BELIEVE how much Sonu Sood and Jackie Chan’s Kung Fu Yoga has collected already!

It might be a box office dud here in India but in China, it’s gatecrashed records…

Sonu Sood and Jackie Chan’s new film Kung Fu Yoga might be a damp squib for Indian audiences as the film failed to make any mark at the domestic box office. But the film has already garnered a thunderous response overseas.

Yes, given that the film is an Indo-Chinese project with the biggest Chinese star Jackie Chan in the lead, the film was expected to open big at the China box office. Also, the numbers they have managed to put up are staggering figures – ones which is beyond anyone’s expectation.

The film has collected around 943 million yuan (Chinese currency) in China. That is equivalent to around 923 crore Indian rupees. And that’s HUGE! So despite the bad response in India, the film has shattered many records in China. Among all the releases in China, it has taken the 13th spot already, with a few more weeks run at the plexes.

Raees vs Kaabil collection Day 16: Hrithik’s film set to take over SRK’s film soon

Hrithik Roshan’s Kaabil is doing better business at the box office than SRK’s Raees.

It’s been a fortnight since Shah Rukh Khan‘s Raees and Hrithik Roshan‘s Kaabil have been battling it out at the box office. It’s the clash of the titans with Raees and Kaabil fighting it out big time. The two big releases are in the race to oust one another.

If SRK’s film has crossed the Rs 150-crore mark, Hrithik’s thriller is inching towards it with each passing day. Interestingly, positive word-of-mouth has worked in favour of Kaabil as the film got extra screens a week after its release.

Not only this, Kaabil has also received a thumbs up from fans in Pakistan. Rakesh Roshan’s production is the first film to be screened in the neighbouring country after the ban. And with Raees considered unfit for release in Pakistan, Sanjay Gupta’s directorial venture is expected to continue its dream run at the box office in the neighbouring country.

Here is the day-to-day breakdown of Raees box-office collection:

Day 1 – Wednesday (Jan 25) – Rs 20.42 crore

Day 2 – Thursday (Jan 26) – Rs 26.30 crore

Day 3 – Friday (Jan 27) – Rs 13.11 crore

Day 4 – Saturday (Jan 28) – Rs 15.61 crore

Day 5 – Sunday (Jan 29) – Rs 17.80 crore

Day 6 – Monday (Jan 30) – Rs 8.25 crore

Day 7 – Tuesday (Jan 31) – Rs 7.52 crore

Day 8 – Wednesday (Feb 1) – Rs 7.1 crore

Day 9 – Thursday (Feb 2) – Rs 6.25 crore

Day 10 – Friday (Feb 3) – Rs 6.60 crore

Day 11 – Saturday (Feb 4) – Rs 8.50 crore

Day 12 – Sunday (Feb 5) – Rs 10 crore

Day 13 – Monday (Feb 6) – Rs 6.5 crore

Day 14 – Tuesday (Feb 7) – Rs 4.10 crore

Day 15 – Wednesday (Feb 8) – Rs 1.50 crore (approx)

Approximate fifteen-day box-office collection of Raees: Rs 159.56 crore


Here is the day-to-day breakdown of Kaabil box-office collection:

Day 1 – Wednesday (Jan 25) – Rs 10.43 crore

Day 2 – Thursday (Jan 26) – Rs 18.67 crore

Day 3 – Friday (Jan 27) – Rs 9.77 crore

Day 4 – Saturday (Jan 28) – Rs 13.54 crore

Day 5 – Sunday (Jan 29) – Rs 15.05 crore

Day 6 – Monday (Jan 30) – Rs 6.04 crore

Day 7 – Tuesday (Jan 31) – Rs 6.10 crore

Day 8 – Wednesday (Feb 1) – Rs 5.70 crore

Day 9 – Thursday (Feb 2) – Rs 5.25 crore

Day 10 – Friday (Feb 3) – Rs 6.40 crore

Day 11 – Saturday (Feb 4) – Rs 9.22 crore

Day 12 – Sunday (Feb 5) – Rs 11.88 crore

Day 13 – Monday (Feb 6) – Rs 6.75 crore

Day 14 – Tuesday (Feb 7) – Rs 3.20 crore

Day 15 – Wednesday (Feb 8) – Rs 2.70 crore (approx)

Approximate fifteen-day box-office collection of Kaabil: Rs 130.79 crore Pakistani actor Mahira Khan, who made her debut with Raees, said at the press conference held to celebrate the success of the film (which she attended via video conferencing) that she thought the film would make Rs 100 crore on its opening day itself! However, the makers of Raees are happy with the film’s performance despite stiff competition from Kaabil.

Meanwhile, Kaabil is showing a sudden rise with each passing day.

BOI to hold roadshows abroad to attract foreign investment

The Board of Investment of Thailand (BOI) will open roadshows abroad to regain the confidence of foreign investors and push for a law to help steer the country towards the Thailand 4.0 goal.

BOI Secretary-General Hirunya Suchinai said the agency will hold an Opportunity Thailand seminar and exhibition on 15 February 2017 to showcase the country’s investment potentials and opportunities.

The event, which will be presided over by Prime Minister Prayut Chan-o-cha, will be attend by some 1,500 high- ranking officials of Thai and international companies and another 2,500 participants.

In an early part of 2017, the BOI will open roadshows in foreign countries, namely Singapore, India, South Korea, the United States, the European Union and Japan, and will by the middle of the year continue on with more roadshows in China, Japan, Australia, Russia, the United States, South Korea, England, Norway and Germany to promote key industries such as aviation, medical equipment, automation and IT.

Besides, the BOI will push for the amendment of the law to facilitate investments and help achieve the Thailand 4.0 goal later this year.

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Reporter : Tanakorn Sangiam Rewriter : tewit kemtong National News Bureau & Public Relations : http://thainews.prd.go.th

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