Guest wowpow Posted December 23, 2006 Share Posted December 23, 2006 Investment rules clarified The Bank of Thailand yesterday announced further clarifications to its controls on short-term capital inflows to serve as a reference for financial institutions in following the 30-per-cent reserve requirement. Included in the exemptions from the reserve requirement are investments in real estate such as land and condominiums, but not real-estate mutual funds; travellers\\\' cheques and bank notes; donations, funds to foreign embassies and government agencies\\\' borrowings. Subject to the reserve requirement are investments in debt securities transacted from December 19 onwards, foreign-currency borrowings transacted from the same date onwards and all other foreign inflows. The central bank also clarified that balances in excess of Bt300 million in non-resident baht accounts would be allowed only until January 8. From January 8 onwards, balances in the special non-resident baht accounts for securities (SNS), which are opened for investment in the stock and futures exchanges will not be allowed to exceed Bt300 million. The central bank said it would continue to review this limit. The Nation ====================================== SURGING BAHT Capital curbs \'temporary\' Central bank chief says controls on foreign funds will be lifted once currency stabilises Bank of Thailand Governor Tarisa Watanagase yesterday defended Monday\'s shock capital controls to throttle debt inflows as a crisis response, saying they would be kept only until the currency calms down. She declined to say how long that might take. Thailand has the right to protect itself from hot offshore money hungry to profit on the upward trend of its currency, she said, adding that the intensifying speculation on the baht could end up destabilising the country as a whole. \"It looks exactly like a one-way bet on the Thai baht, which has appreciated by 15 per cent this year alone. Nobody can give an explanation of why the baht has become the favourite target of speculation. It\'s beyond any fundamental reason,\" she said.... Full article http://www.nationmultimedia.com/2006/12/23...es_30022326.php Quote Link to comment Share on other sites More sharing options...
Guest ear wig Posted December 23, 2006 Share Posted December 23, 2006 As we are all interested in the property market and if those worried are going to have to pay an extra 30% towards there New Home in Paradise. I have recieved details from one of our largest Property Companies in Pattaya and one of their director. A very dear gay friend to the Gay Community has told me. a).... The all new OCEAN 1 Plaza Towers Building is going ahead in leaps and bounds. B).... The nasty 30% being with held by some deals is not going to apply to Property deals. See Below:- Ocean 1 Tower & the latest on Short Term Capital Investments Law Since we announced Ocean 1 Tower there have been many changes including the name, design of the building, size of condos, the O1 website ETC. Our architects, advertising agency and all involved with this project are very close to completing the final plans for the building and also the marketing of the development. Consequently we would prefer you discard any temporary pre launch marketing material you may have as there will be discrepancies. Although the date is not confirmed the official launch is now being planned for 10th March 2007 when a world renowned entertainer is available for the gala event. At the launch comprehensive sales and marketing material will be available with complete details and floor plans. Rest assured when Ocean 1 Tower is launched all the questions and issues that have been raised will be answered officially by the respective experts. It may be necessary to update existing contracts as regards some minor changes that have occurred, for example the size of condos. However, this is not important because when the building is complete all condos will be measured by Pattaya City Hall officials and if there are discrepancies in the actual size compared with that stated on a contract the price will be adjusted in the final payment. Sales contracts have a clause explaining this. We are delighted to inform you that as of this date more than 100 condos have been sold which is remarkable considering there has been no advertising or official marketing. The price per square metre is currently Low Zone (Levels 10-14) 120,000 THB, Mid Zone (Levels 15-50) 125,000 THB, High Zone (Levels 51-85) 130,000 THB. The unprecedented pre launch interest in Ocean 1 Tower clearly indicates a price rise is imminent. Please pencil 10th March 2007 into your diary for what will be a day to remember. Finally, during the past week we have received many queries as regards the Central Bank Quote Link to comment Share on other sites More sharing options...
Guest kenrfc Posted December 24, 2006 Share Posted December 24, 2006 Clarified? Still all sounds pretty murky to me. Its hard to believe this jerk running the Central Bank was on the short-list to be the new PM. In fact this new crew running things doesn't seem to know what they're doing. One goofy trial baloon after another is being sent up and going "POP" Old Joe Thaksin is looking better and better every day. Quote Link to comment Share on other sites More sharing options...
Guest wowpow Posted December 24, 2006 Share Posted December 24, 2006 Courtesy Bangkok Post Quote Link to comment Share on other sites More sharing options...
