The Fine Wine Wealth Creation Program–a free seminar at the Royal Cliff Hotel July 20–features guest speaker Gavin Saffer, director of Premier Cru, a Europen fine-wine investment house.
Bordeaux wines are respected as one of the world’s most consistently best vintages. Indeed, the reputation top French labels depends on continuously high-quality yields. For the past 30 years, investments in fine wine have reportedly consistently out-performed commoditites, equities, property and gold.
An 18 percent annual growth has been the norm and is set to continue with good management and the expected high quality of the 2010 vintage (now being bottled after one year in barrels). While demand increases, production quantities remain unchanged. Consequently, investment values rise every time a bottle is opened.
Co-sponsored by Bangkok based EMM Consulting Co. Ltd., the July 20 seminar at the Royal Cliff provides a unique opportunity to gain insight into the story of appellation d’origine controlee fine wines such as Chateau Lafite Rothschild; Latour and Margaux .
Storage of your fine wine investment is of paramount importance and Premier Cru Investments’ wine cellars are as elite as their wines. In a disused slate mine in the Wiltshire countryside of UK, neighbours include HRH Queen Elizabeth of England and two of the richest men in the world, Microsoft’s Bill Gates and Lord Andrew Webber.
For reservations at the seminar (limited to 50) email: wine@emmconsultancy.com or telephone 088 208 1318. Complimentary refreshments will be served.
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21 Jul 2011
Business News • Thailand News
Thailand to raise minimum wage to Bt300
Keeping its campaign promise, the Pheu Thai Party plans to raise the daily minimum wage for workers nationwide to Bt300 (US$10).
Jarupong Ruangsuwan, Pheu Thai secretary-general, made the announcement amid growing public attention to the implementation of the party’s economic policy after it announced plans to form a new government with four smaller parties for a total of 299 votes in parliament.
In addition to the 300 baht minimum wage proposal, Pheu Thai earlier put forward a minimum starting salary of Bt15,000 per month for new graduates. Such campaign promises are believed to have swayed a large number of votes for the party. Jarupong said the new government will raise the minimum salary per month to Bt15,000 (US$500) for civil servants and state enterprise employees this October; the minimum daily wage hike is expected to begin in January 2012.
Final decisions will be made following discussions with the private sector concerning wage hikes, corporate income tax reductions, and provisions for new export markets, according to Jarupong.
Previously, the daily minimum wage in Bangkok and surrounding areas was raised to 215 baht. That 6.7 percent increase was considered a big jump in January 2011.
Somkiat Chayasriwong, permanent secretary for labour and chairman of the wage committee, attributed the wage raise to the government’s policy to reduce disparity in society. The Social Security Office says about 2 million Thai workers and 2 million migrant workers will benefit from the increase.
The wage increase for Thais adds more than 6.92 billion baht to the national payroll, while the increase for migrant workers adds up to more than 7.78 billion baht. The aggregate increase will boost the purchasing power of the 4 million workers by 14.69 billion baht.
In Phuket, the increase of 17 baht in the minimum wage from 204 baht to 221 baht is the highest in the country. Minimum wages in Bangkok and nearby provinces were put on an equal footing of 215 baht a day.
The minimum wage in Bangkok and Samut Prakan was raised by nine baht from 206 baht. In Nakhon Pathom, Pathum Thani, Samut Sakhon and Nonthaburi, it was increased by 10 baht from 205 baht.
The size of the work force in Thailand now exceeds 38.24 million (2009 est.), growing by about 800,000 each year; the majority of workers are under 35 years of age.
While not the lowest-cost labor market in the region, Thailand’s workforce is among the most cost-efficient in the world, as they have earned a reputation for diligence and adaptability
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