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King Maha Vajiralongkorn of Thailand has inherited the vast wealth of Thailand’s royal family, net-worthed at US $30 to 60 billion. The monarch will become one of the world’s richest after assuming the throne following the death of his father, King Bhumibol Adulyadej, in late 2016.

In 2011, Forbes’ ranking of the world’s most wealthy, estimated King Bhumibol’s fortune to value at more than US $30 billion, including his holdings of the Crowned Property Bureau. The actual sum, remains undisclosed protected by a strict set of lese majeste law enacted in the Thai Monarchy.

Vajiralongkorn’s father, who had reigned for seven decades, hired professional managers and trusted consultants to handle the family’s vast profile real estate and investment assets, known to be the existing Office of the Crowned Property Bureau. The holdings were transferred as private assets to the new King and the King confirmed that the assets would be treated the same and would “be subject to the same duties and taxation as would asset belonging to any other citizen.”

The Crown Property Bureau’s most notable assets are real estate in Bangkok, the Siam Commercial Bank, valued at US $84 billion and the Siam Cement Group, Thailand’s major building materials conglomerate which is valued at US $16 billion. In March, it was estimated that the monarch acquired nearly US $150 million stake in Siam Cement Group and shares worth over US $500 million in Siam Commercial Bank from the stock exchange market.

It was last year that the Thai Junta amended a royal property law since 69 years ago, to allow King Vajiralongkorn to take full control over the royal assets and “be managed under the His Majesty’s own discretion.”

Source: 香港01, South China Morning Post 

Golden Emperor Properties has continued to actively give back to the community. Our company hosted a Charity Banquet in Admiralty last week and we are delighted for the support from our community of clients and the amount of donations and sponsorship received. The banquet was a meaningful evening to enjoy some wine and cuisine in addition to entertainment performed by a guest singer.

The banquet received an overwhelming amount of donations and support from Mrs. Alice Lee, Sales Director of Golden Emperor Properties, Mrs. Cubie Chan, Product Director of Golden Emperor Properties and Professor Herman M.C. Lau. Our community of clients were especially generous with their support and donations. All proceeds of the event, excluding Golden Emperor’s administrative cost, will go the Hong Kong Stroke Association to aid and encourage stroke survivors undergoing recovery and psychiatric treatment and provide additional support to their families.

Photo Above: Ms. Alice Lee (fourth from the left), Sales Director of Golden Emperor, joins our clients for a group photo.

Photo Above: Professor Herman M.C. Lau, sings along with our guest singer, Yuen Yuen.

Photo Above: Mrs. Cubie Chan (second from the right), Product Director of Golden Emperor, poses with our clients.

Photo Above: We received a large amount of support and donation for the evening.

Photo Above: Golden Emperor Properties, as the host of the night, donates HKD 20,000 to The Hong Kong Stroke Association.

Photo Above: Mrs. Alice Lee, Sales Director of Golden Emperor, receives a certificate from The Hong Kong Stroke Association.

Photo Above: Professor Herman M.C. Lau donates a collection of red wine to the night for charity and received a generous amount of support from Golden Emperor’s community of clients.

Bangkok Airways Plc has introduced five new channels where passengers can make payments online – LinePay, WeChat, AliPay, UnionPay and an instalment plan for holders of some credit cards with 0 per cent interest for three months.

“Bangkok Airways always strives to enhance every passenger’s journey,” said president Puttipong Prasarttong-Osoth. “We have been committed to developing innovative systems and new technology to make our passenger flying experience even more convenient.

“Our new online payment channels service is believed to help facilitate our digitally savvy passengers as well as to help us better complete in the digital era.

“To make sure the online transactions will be smooth and reliable, Bangkok Airways has teamed up with 2C2P, who are experts in systems management.

“These added payment channels will also be able to support multi-currency payments, which should broaden opportunities for Bangkok Airways to tap into new markets in Southeast Asia and China.”

source: THE NATION

The Tourism Authority of Thailand (TAT) hosted a three-day outdoor trade show at Pattaya’s Ocean Marina Yacht Club for tourism operators from June 13^th to the 15^th, This year’s conference focused on promoting Thailand as a luxury travel and romantic destination as TAT aims to push Thailand into the world’s top five romance destinations.

Thailand Travel Mart Plus the Greater Mekong Subregion (TTM+ 2018) hosted its first event back in 2001 to promote Thailand as the leading country of tourism in the Mekong region. TTM+ 2018 was held at the largest yacht club in Southeast Asia this year in Pattaya with over 280 delegates from Thailand and 300 international delegates including journalists and tourism buyers from 60 countries, all to join this fun and relaxing event to exchange Thailand’s latest tourism trend.

Mr. Tanes Petsuwan, deputy governor for marketing communications of TAT said honeymoon products and services have been highlighted as an emerging segment in the tourism sector. Thailand has unlimited resources and is a perfect location as a wedding and honeymoon destination. the country brims with unique old town architecture, majestic natural landscapes, uncharted beaches, a spectacular gastronomic scene and a range of established accommodations. As more than a handful of new tourism projects will be established from 2018 to 2019 by TAT in Chiang Rai, Hua Hin and Trang, such will be promoted as upcoming honeymoon destinations for newly weds.

In 2016, Thailand received more than 1.1 million couples and TAT forecasts to see a growth of 5% in the wedding and honeymoon tourism segment in 2018. Unique from other countries, Thailand offers uncharted landscapes for wedding shoots and remains to be a favorite tourism destination for the Chinese with its convenient location and flexible visa policy. TAT and Thailand’s statistics department revealed that in it received more than 35 million visitors in 2017, with an 8.77% increase from 2016. Chinese tourists totaled to 9.8 million. In Q1 2018, a total of 13.7 million visitors visited Thailand a 13.97% increase year on year. China reigned the list with Malaysia, Russia, South Korea and Japan following. Tourism generated 520 billion Baht of revenue for Thailand, an increase of 15.78% year on year.

Thailand was voted the ‘Best Wedding Destination’ by India-based Wonderlust magazine last year and was named one of the 20 most romantic destinations in the world by Brides magazine this year.

THE National Broadcasting and Telecommunication Commission (NBTC) expects that Thailand will move to fifth-generation (5G) telecommunication services in 2020.

The forecast from the telecoms and broadcasting regulator comes as Ericsson, a maker of telecommunications equipment and provider of services, says the manufacturing and energy and utilities sectors will be among the biggest users of the 5G services, along with organisations that deal with public safety.

NBTC secretary general Takorn Tantasith said the adoption of the 5G framework fits with the country’s shift into the digital era.

“The 5G network will drive economy forwards and spur the adoption of innovative technologies,” Takorn said. “High-speed Internet will be provided to people in rural area nationwide by the end of this year, so that all Thais will able to access information via a high-speed network.”

He said that the commission will invite bids for 1800 MHz spectrum on June 15, with the bidding for spectrum on the 5G network to be opened in 2020.

Nadine Allen, country manager of Ericsson (Thailand), said that the firm expects that the 5G network will be rolled out in Thailand from 2020 to 2022. Telecoms operators will be first movers for this technology in the country, Allen said

“Thailand is among the top three countries in the Asia-Pacific region in terms of growth potential arising from the adoption of the 5G network,” she said.

“5G will help companies to manage mobile data traffic growth while boosting capacity and efficiency. The 5G network will cover 20 per cent of global traffic on 2023.”

Allen said the 5G network would boost the update of the Internet of things (IoT) and enhance the use of mobile broadband, among other benefits.

“Around 70 per cent of IoT leaders are focusing on cellular IoT and around 80 per cent of operators around the world want to move up the value chain of the 5G network,” she said.

She said that aside from the manufacturing, , and public safety sectors, 5G would also be a draw for providers of healthcare, public transport and companies in the media and entertainment industries.

“I think that 5G can add 22 per cent on top of traditional service revenues for operations in Thailand. 5G will deliver enhanced mobile broadband and enable the exploration of new-use cases and business models,” Allen said.

source: The Nation