Gaybutton Posted December 22, 2006 Posted December 22, 2006 The following appears in the BANGKOK POST: _____ Monday is D-Day for Struggling Elite Card CHATRUDEE THEPARAT The future of the Elite Card, a pet project of former prime minister Thaksin Shinawatra intended to attract affluent tourists, is expected to be decided on Monday. Tourism and Sports Minister Suvit Yodmani will be presented with two options for the future of Thailand Privilege Card Co (TPC), the government-owned company set up to market the Elite Card. The first option is to dissolve the company and the second is to continue it but with a clearer financial plan and closer supervision by the ministry to ensure that it could generate income. However, dissolving TPC could be risky as the government could be sued by existing cardholders, said Seri Wangpaichitr, a former Tourism Authority of Thailand governor who sits on a committee that's evaluating several projects initiated by the former government. TPC was set up to sell and manage memberships of the one-million baht Elite Card that promises a wide range of lifetime privileges to well-heeled tourists. Holders receive fast-track immigration clearance, multiple-entry visas and discounts at hotels, resorts, restaurants, spas, golf courses and more. Mr. Thaksin gave the company a target of one million members by 2008, but so far only 1,734 cards have been sold. The Tourism Authority of Thailand (TAT) owns 100% of TPC with registered capital of 500 million baht. TPC's four authorised agents will hold a press conference today on the company's performance and marketing plan for 2007 to 2010. According to a source familiar with the venture, the agents would call on the government to continue TPC, saying they have already conducted marketing activities in several countries. They projected that within three to five years, the company would play a significant role in promoting the Thai tourism industry, generating both direct and indirect investment of up to 15 billion baht. Quote
Guest wowpow Posted December 22, 2006 Posted December 22, 2006 Ten to one they will keep on the few existing customers benefits and dump the disasterous scheme which has not covered it's costs. Maybe if they do as originally proposed and include the right to own property it could revive. Will you have to bring in extra money so that the bank does not sit on 30% if you want to rush and buy? Quote
Guest wowpow Posted December 28, 2006 Posted December 28, 2006 I'm trusting my memory here - a dangerous thing to do. I read a report that the cost of buying back the benefits of the cards would cost billions according to the company set up to sell them. No decision was taken on how to proceed. Quote
TotallyOz Posted December 29, 2006 Posted December 29, 2006 Looks like it is still going to be around for a while. http://www.bangkokpost.com/Business/29Dec2006_biz31.php Phornsiri named TAT chief, Elite Card saved CHATRUDEE THEPARAT Phornsiri Manoharn, a deputy governor of the Tourism Authority of Thailand (TAT) was selected as its new governor yesterday. Mrs Phornsiri, 57, has been working for the TAT for 36 years and currently oversees domestic markets. She was one of 16 applicants to succeed Juthamas Siriwan who retired at the end of September. Three hopefuls were shortlisted by the selection committee headed by Kriangsak Lohachala. Besides Mrs Phornsiri they were Praphan Assawa-aree, a former managing director of NCC Management; and Pimol Srivikorn, a Thai Rak Thai Party member and a former member of Parliament. Tourism and Sports Minister Suvit Yodmani, who also serves as the chairman of the TAT board, said that Mrs Phornsiri had received the highest votes from eight of the 10 members of the state agency's board. ''She has impressive qualifications with strong experience in the tourism industry and good intentions for development of the sector,'' Mr Suvit said following the selection. Anake Srichivachart, former president of the Thai Travel Agents Association, welcomed the result, saying that the tourism industry wanted TAT insiders to run the agency as they knew the ins and outs of the business and how to disburse the tourism budget. In another development, the TAT board yesterday decided to continue operating the Elite Card, a project of deposed prime minister Thaksin Shinawatra launched to attract affluent tourists. The board suggested, however, that state-owned Thailand Privilege Card Co, set up to market the Elite Card, improve its management and produce clearer financial plans. The board came to the decision after studying options proposed by an evaluation committee chaired by Seri Wangpaichitr, a former TAT governor. The decision to continue the card will avoid huge costs to the state of at least 10 billion baht, including fee returns and estimated future losses. Quote
