@Revolution:Global Business News

New Economy, Leadership, Entrepreneurship, Management, Global Business

Archive for the ‘Asia Business’ Category

Singapore and Democracy

Posted by iBlog on July 6, 2008


Posted in Asia Business, News YouTube | Leave a Comment »

Political Gridlock & Tokyo Stocks

Posted by iBlog on July 5, 2008

Japan is the world’s second largest economy. In 2008, the Nikkei Stock Average is down 19% for the year. Economist’s comment that the 19% drop of the Japan’s dollar’s steep decline would help the United States reduce its huge trade deficit and eliminate the United States $2 billion dollar a day addiction to foreign capital. After falling for the first time since 1995, Japan’s slide has created a host of problems worldwide for both the United States and Japan. In retrospect, the decline could help the United States reduce its huge trade deficit.

Posted in Asia Business | Leave a Comment »

China Is India’s Only Possible Threat

Posted by iBlog on May 13, 2008

India’s trade body and chamber of commerce of the IT-BPO (business processing outsourcing) industry, Nasscom was established in 1988 to facilitate business and trade across the country’s software and services industries. The association has over 1,200 members, which include 250 global companies.

In an e-mail interview with ZDNet Asia, Natarajan discussed the challenges facing the Indian IT-ITES (IT and IT-enabled services) industry, and underscored the need for local companies to innovate and reinvent themselves for India to remain the preferred outsourcing destination.

Q: Congratulations on becoming the chairman of Nasscom. What are your top priorities as the new chief?

Natarajan: We have identified six key themes. Our agenda for this financial year includes issues like tapping opportunities through innovation, building communities of best practices, adopting green IT, societal development, and education and skills building.

Today, the IT industry is well on its way to make the transition to process quality and innovation. We believe these themes will help chart the way forward and maintain a steady growth for the industry.

With the U.S. economy slowing down and the rupee continuing to strengthen, do you think it’s a good time to head Nasscom?

These are all challenges of growth, and therefore, a good problem to have at hand. The U.S. slowdown and Rupee appreciation are short-term challenges.

In the long term, the Indian IT-ITES industry will continue to maintain a healthy growth rate, and is well on its way to achieve the US$60 billion mark.

Do you think the U.S. slowdown is hitting Indian IT-ITES companies hard? What can the industry do to counter the impact of the slowing U.S. economy?

The U.S. slowdown is impacting the industry in the short term. But in the long run, the Indian IT-ITES sectors will continue to maintain a healthy growth rate.

While the companies are making firm level efforts to counter the challenge, the key is innovation. As the traditionally successful sourcing model comes under strain, companies need to reinvent themselves and innovate for India to remain the preferred sourcing destination.

Commoditization of IT services, advent of new disruptive technologies and the blurring of the distinction between hardware, software and services, indicate the need for the Indian IT industry to move toward a more consumer-centric business model. And the only way to do that is through innovation. While it often means a new technology or product, it is equally applicable to processes or services.

With rapid economic growth, skill scarcities have been on the rise. Is this an area of serious concern?

The large and growing talent pool remains a key differentiator for India as a global sourcing destination and the fundamental driver of its IT-BPO growth. However, as the IT sector continues to grow and develop new competencies, talent suitability is becoming a concern.

So far, companies have adequately addressed these challenges through their own efforts around recruitment and training. But, as demand continues to grow exponentially, it is becoming difficult for the industry to address this challenge.

Posted in Asia Business, China Global, Going Global | 2 Comments »

Can China Take on Boeing and Airbus?

Posted by iBlog on May 13, 2008

China hasn’t had a good track record building big airplanes. The first Made-in-China big jet was the Shanghai Y-10, which had its maiden flight on Sept. 26, 1980. The 150-seat jet was as big as a Boeing 707 and bore a striking similarity to the American plane. The Y-10 flew 130 times, but the Chinese retired it in 1985 because local airlines refused to purchase it, preferring to buy the more fuel-efficient planes from Boeing (BA) and McDonnell Douglas instead.

Two decades later, the Chinese government is hoping for better luck. At a ceremony in Shanghai on May 11, China unveiled its latest attempt to build a larger jet—or literally “big airplane” in Mandarin—with the launch of the Commercial Aircraft Corp. of China (CACC). The company’s mandate: assemble jets at home to reduce the nation’s reliance on Western-made planes. There’s no shortage of demand. The aviation industry conservatively predicts the country will buy 2,800 new airplanes worth $329 billion over the next 20 years to keep up with China’s scorching air travel growth (BusinessWeek.com, 12/6/05). “Obviously, China wants to be part of this perceived profitable airplane making business,” says Martin Lin, head of the American Chamber of Commerce in China’s aerospace group. “But profits will come only when China will be able successfully to capture international markets.”

As the country’s failure with the Y-10 shows, that is a big “if.” Alarmists say that China entering the ring to manufacture big jets could pose a threat to the Boeing and Airbus duopoly down the road (BusinessWeek.com, 3/22/07). Publicly, Boeing and Airbus have sought to downplay any friction, saying they are willing to work together with China to help build its jets. “Boeing recognizes and respects the ambitions of other countries and companies to enter commercial aerospace as large airplane manufacturers,” a Boeing spokeswoman wrote in an e-mail. “Boeing will continue its legacy of cooperation with customers and suppliers worldwide.”

Fuel and Maintenance Are Key

Industry experts say that fears about China quickly eating Boeing and Airbus’ lunch are overblown. For starters, no one knows when the country’s jet will be ready. The government has set a goal of having a plane that can seat more than 150 passengers, which is smaller than the jumbo jets made by Boeing and Airbus that seat more than 400 passengers, ready by 2020. But in interviews with the Chinese media, CACC President Jin Zhuanglong declined to be tied to a timetable. China’s attempt to build a regional commercial aircraft, the ARJ21, has been delayed because suppliers have not had key systems ready in time. The 70- to 90-seat ARJ21 jet is expected to be delivered next year. To be fair, even Airbus and Boeing’s new airplanes have been wracked by delays (BusinessWeek, 4/17/08).

Another big problem: When it comes to building jets, China’s low-cost workforce is not all that significant an advantage. True, the country has lower labor costs than, say, Toulouse, France, which is why Airbus is setting up its A320 assembly line in the northeastern Chinese city of Tianjin. But airlines do not buy airplanes based on cost alone. The price tag of an aircraft accounts for only 3% to 5% of the plane’s total operating cost over its 20-year lifetime. More important considerations for airlines are fuel and maintenance costs. “Building an aircraft is not even half the battle. Delivering it and supporting it over a lifetime is what really matters,” says Martin Craigs, president of Aerospace Forum Asia, a Hong Kong-based nonprofit aerospace supply chain industry association.

And while CACC is going to design primarily for domestic airlines, there is no guarantee that Chinese carriers will purchase the planes if they are not genuinely globally competitive. In the 1990s, McDonnell Douglas had a difficult time selling the MD-80 and MD-90 series aircraft it assembled in Shanghai to Chinese airlines because the planes cost more than what airlines could buy directly from the U.S. Today, most of China’s biggest airlines are listed in Shanghai, Hong Kong, and New York, meaning they will be even more likely to base their airplane purchase decisions on earning the best possible returns for their shareholders.

Learning from Failure

To be sure, China’s aircraft manufacturers have learned from their past failures. CACC’s design teams have already reached out to Chinese airlines to solicit their opinions on the future jets’ requirements and performance. But they have not included foreign airlines in the initial round of discussions. “Based on our own experience, we have learned that developing a good plane is not necessarily the most difficult,” an Airbus spokesman wrote in an e-mail. “What is most difficult is to get the recognition on the world market not only to develop such a plane but also to deliver and maintain it. This is where collaboration can be helpful.”

Tschang is a correspondent in BusinessWeek‘s Beijing bureau.

Posted in Asia Business, China Global, Going Global | Leave a Comment »

Earthquake in China

Posted by iBlog on May 13, 2008

A massive earthquake rocked southwestern China on Monday, resulting in a death toll that neared 10,000 Tuesday and creating a new crisis for China’s leaders after several that have heavily tested the regime this year.

One of the worst earthquakes since 976 struck western China, with reports of hundreds buried under collapsed buildings. Video courtesy of Reuter

The quake, among the most powerful to hit a populated area in recent years, flattened school buildings, shops and homes across a wide, mountainous area around the epicenter in China’s Sichuan province. Local officials estimated 3,000 to 5,000 people died in a single Sichuan county, called Beichuan, where 80% of the buildings were estimated to have collapsed, the official Xinhua news agency reported.

The full scale of the devastation wasn’t clear, in part because of damage to communications lines in the affected area. Rain, as well as rocks and boulders blocking roads, hampered rescue efforts, Xinhua said.

In the town of Dujiangyan, near the quake’s epicenter, fewer than 100 students out of 420 survived the collapse of a school building, Xinhua said.

[See more photos]
Associated Press
People rushed to rescue students at Juyuan Middle School.

Outside the school, known as Juyuan Middle School, scores of parents huddled under tarps in the rain sobbing and awaiting news of their children. Rescuers used heavy cranes to lift toppled concrete slabs.

“When the building came down there was no one to help us,” said Li Dachang, whose 16-year-old daughter was later pulled dead from the rubble. “The quality of the construction was so poor. There are so many corrupt officials. They take the money and build shoddy buildings.”

“They haven’t found our kids,” said Wang Zhouqun, wiping away tears. Her teenage daughter was still missing.

The devastation represents the latest of several crises to test China’s leadership in a year that was supposed to be dominated by Beijing’s hosting of the Summer Olympics in August. Winter storms in January — China’s worst in 50 years — shut down much of the country’s central and southern regions for weeks and killed crops and livestock, exacerbating inflation that was running at decade highs.

[A rescuer tries to pull an injured woman from the debris at Juyuan Middle School after the earthquake.]
A rescuer tries to pull an injured woman from the debris at Juyuan Middle School after the earthquake.

In March, antigovernment protests in the Tibetan capital of Lhasa, and the resulting government crackdown, triggered unrest throughout ethnically Tibetan areas in much of western China. Monday’s quake struck in part of that region. The Tibet flare-up fueled criticism of China’s government internationally, leading to protests during the Olympic torch relay through major Western cities, which in turn caused an anti-Western backlash in China.

The Aftermath

Following these crises, the earthquake’s aftermath is likely to be watched closely within China as a test of the leadership’s ability to coordinate a complicated relief effort — and of how it balances its own desire to seem self-sufficient against the need to request any resources from abroad that it might not have. Relief groups, already contending with the aftermath of the recent cyclone in neighboring Myanmar, said they were awaiting word from Chinese authorities on whether assistance was desired.

The quake also could offer a test of China’s adherence to earthquake standards in the midst of a massive building boom, and could put local officials under pressure as well.

[Mondays earthquake chart]

The quake, which struck midafternoon local time, measured at magnitude 7.9, according to the U.S. Geological Survey. The initial jolt was so powerful it was felt as far away as Bangkok. It prompted evacuations of offices towers in Beijing and Shanghai, both more than 1,500 kilometers away, as office buildings swayed enough to make some workers nauseated. More than a dozen aftershocks followed, many of them topping magnitude 5.0.

Hundreds of people were trapped under two collapsed chemical plants in a town called, Shifang, where tons of leaked liquid ammonia caused the evacuation of 6,000 people, Xinhua reported.

Piles of Bricks

In Dujiangyan, entire blocks of six- and seven-story houses collapsed into piles of bricks, concrete slabs and splintered furniture. “My father died in there,” said Fu Xufen, who had rushed to check on her father after the quake hit and found a pile of rubble where his building had been.

China’s leaders moved immediately to show the public they were dealing with the disaster. Premier Wen Jiabao left Beijing for the affected area within hours of the quake, and state-run media later showed images of him with a bullhorn calling to possible survivors in the rubble of a wrecked hospital in Dujiangyan.

President Hu Jintao convened a special meeting of the ruling Communist Party’s powerful Politburo Standing Committee to discuss the disaster, and said relief and rescue work would be the government’s “top priority.” Tens of thousands of Chinese soldiers and paramilitary police were dispatched to the area to aid the relief effort, Xinhua said.

AFP/Getty Images
Rescuers searched for victims in the rubble of the collapsed Juyuan middle school in Dujiangyan.

Analysts said China’s government is likely to assemble more effective response than has been seen in Myanmar, where the military leadership’s refusal to accept many outside aid shipments has been blamed for likely exacerbating the toll. Still, if it needs aid such as equipment and dogs to find survivors, China would need to request it quickly to be effective, aid experts said.

Hours after the quake, the Czech Republic’s government offered a team of 15 earthquake search experts and their specially trained dogs, an embassy spokesman in Washington, D.C., confirmed. A statement from the Czech embassy in Beijing distributed by the Foreign Correspondents Club of China said China’s Ministry of Foreign Affairs had expressed appreciation for the offer, and promised “to study” the proposal. The Czech embassy spokesman said Monday afternoon that his nation hadn’t heard from Chinese officials about the offer. Chinese officials couldn’t be reached.

[Natural Disasters]

The most-important thing “now is the evacuation and rescue operation, and providing basic shelter and food,” said Qinghui Gu, a disaster-management official with the International Federation of Red Cross and Red Crescent Societies. Mr. Gu said his organization was struggling to obtain detailed information from the affected area but that the early official estimates indicated that it would be “a huge disaster.”

The earthquake isn’t likely to significantly slow China’s surging economic growth because the Sichuan region isn’t a major manufacturing center, according to a Merrill Lynch report. Reaction from China’s stock markets was muted Monday, before word of the quake’s magnitude spread.

Monday’s quake struck at 2:28 p.m. local time with an epicenter that the U.S. Geological Survey said was about 90 kilometers northwest of Chengdu, capital of Sichuan, capital of one of China’s most heavily populated provinces.

Ambulances carrying the seriously injured streamed into Chendgu Tuesday morning. They passed buses of troops, earth-moving equipment and electric utility trucks heading further into quake-hit areas. With aftershocks still rolling through the region Tuesday morning, residents of Chengdu — a city of about 10 million people — huddled along the road under heavy rain, too fearful to go back indoors.

Zhang Huiyong, a 50-year-old construction worker, brought quilts down from her seventh-floor apartment downtown to spend the night outside with her family. “I’m afraid there’s going to be another earthquake,” Ms. Zhang said. “I’m very scared.”

On the grounds of the University of Electronic Science and Technology of China in Chengdu, hundreds of students and local residents were camped outside, some sleeping, others gathered around radios trying to get the latest news on casualties. He Rong, a 20-year-old sophomore, sat clutching her cellphone, trying to get through to her family in a city closer to the quake epicenter. “I haven’t been able to reach anyone. I am so worried,” she said.

Posted in Asia Business | 1 Comment »

U.S China End Safety Talks

Posted by iBlog on September 14, 2007

WASHINGTON (Reuters) – China will work with the United States to ensure the safety of exported toys and other goods, a top Chinese official said, but Beijing still insists it is not solely to blame in recent safety scandals.

Wei Chuanzhong, vice minister of China’s General Administration for Quality Supervision, Inspection and Quarantine (AQSIQ), said the lengthy talks with U.S. agencies in Washington this week were productive.

Read the full article in Reuters

Posted in Asia Business, China Global, World News | Leave a Comment »

How a Muslim Billionaire Thrives In Hindu India

Posted by iBlog on September 12, 2007

BANGALORE, India — The world’s richest Muslim entrepreneur defies conventional wisdom about Islamic tycoons: He doesn’t hail from the Persian Gulf, he didn’t make his money in petroleum, and he definitely doesn’t wear his faith on his sleeve.

A native of Mumbai, Azim Premji has tapped India’s abundant engineering talent to transform a family vegetable-oil firm, Wipro Ltd., into a technology and outsourcing giant. By serving Western manufacturers, airlines and utilities, the company has brought Mr. Premji a fortune of some $17 billion — believed to be greater than that of any other Muslim outside of Persian Gulf royalty.


Posted in Asia Business, Current News, Going Global, India Global | Leave a Comment »

No Stopping Chinese Stocks

Posted by iBlog on September 12, 2007

Seems like nothing can cool Chinese investors’ ardor for local stocks. Despite market meltdowns in the rest of the world and moves by Beijing to dampen demand for equities, China’s stock markets are at a record high. On Aug. 22, China’s benchmark CSI 300 stock index blasted through the all-important 5000 level, shrugging off an interest-rate hike by the central government announced the previous day, to close up 78.98 points, to 5051.69. The index, which tracks the 300 most important companies listed in Shanghai and Shenzhen, has jumped 147% this year

Read the full article in BusinessWeek.com

Posted in Asia Business, China Global, Finance, Wall Street | Leave a Comment »

Japan’s Cybercafes Go Upmarket

Posted by iBlog on September 12, 2007

These ought to be difficult days for operators of Internet cafés in Japan. After all, why would Japanese go to a cybercafé when the widespread availability of broadband means most homes can have reliable, high-speed connections to the Net? With download speeds typically 10 times faster than in the U.S., Japanese surfers enjoy the fastest broadband connections in the world. And the Japanese increasingly don’t need computers to go online. The first country in the world to offer 3G services back in 2001, Japan is today a leader in mobile Internet use.

Read the full article in BusinessWeek.com

Posted in Asia Business, Creativity & Culture, Digital Media | Leave a Comment »

Wall Street Awaits Feds Announcement

Posted by iBlog on September 9, 2007

Investors have been hoping for weeks for a rate cut from the Federal Reserve, which meets Sept. 18. But now, after last week’s disagreeable jobs report, Wall Street is more nervous than ever over the possibility that even the expected quarter-point rate cut next week may not be enough to save the economy from slipping into recession and stocks from sliding into negative territory for the year.

Read the full article in Yahoo.com

Posted in Asia Business, Finance | Leave a Comment »

Do You Have A Chindia Strategy?

Posted by iBlog on August 23, 2007

There is no hotter topic in the high-tech industry than the impact of China and India on the industry and the world at large. If you are a strategist or a decision maker in almost any enterprise, anywhere in the world, you see the impact of India and China in new waves of technology products and services in events, decisions and strategies featured on corporate Web sites and in international news coverage.

Read the full article in Forbes.com

Posted in Asia Business, Business Psychology, India Global, International Business | Leave a Comment »

Will Growth Slow Corruption In India?

Posted by iBlog on August 23, 2007

Now that India is playing an ever larger role in the world economy, the issue of corruption, in both the private and public sectors, is coming into sharper focus. Two scenarios are possible: As India’s multinational corporations develop both economic and political muscle, they may act as a broom, sweeping corruption from the economic sphere.

On the other hand, entrenched practices may prove the stronger force, and corruption could end up being a significant brake on India’s economic rise.

Read the full article in Forbes.com

Posted in Asia Business, India Global | Leave a Comment »

From Emerging To Surging

Posted by iBlog on August 23, 2007

As India celebrates 60 years of independence, it is appropriate to reflect upon our national direction, how business operates in a rapidly growing economy and some future challenges.

India is moving from the chrysalis of an “emerging” economy to a “surging” economy and becoming a center of innovation, the critical differentiator to ensure future growth for any nation today. India is working to transform its longstanding tradition of innovation into an engine of economic and social progress to create a better tomorrow for its citizens.

Read the full article in BusinessWeek.com

Posted in Asia Business, India Global | Leave a Comment »

The Indian Media Mela

Posted by iBlog on August 23, 2007

If the words “print” and “media” conjure up images of plummeting profits, shrinking readership and editors tearing their hair out as they attempt to staunch the exodus to the online universe, you clearly aren’t thinking of India.

As the country celebrates the 60th anniversary of its independence from Britain, newspapers are flourishing, with growth projections that would impress even the savviest of investors. And unlike rival market favorite China, the world’s largest democracy can boast a free press that is truly able to speak its mind, and the largest English-language speaking audience in Asia.

Read the full article in BusinessWeek.com

Posted in Asia Business, India Global | Leave a Comment »

No Stopping Chinese Stocks

Posted by iBlog on August 23, 2007

Seems like nothing can cool Chinese investors’ ardor for local stocks. Despite market meltdowns in the rest of the world and moves by Beijing to dampen demand for equities, China’s stock markets are at a record high. On Aug. 22, China’s benchmark CSI 300 stock index blasted through the all-important 5000 level, shrugging off an interest-rate hike by the central government announced the previous day, to close up 78.98 points, to 5051.69. The index, which tracks the 300 most important companies listed in Shanghai and Shenzhen, has jumped 147% this year.

Read the full article in BusinessWeek.com

Posted in Asia Business, China Global, Current News, Finance, Going Global, Investing, World News | Leave a Comment »

The Teachings of India

Posted by iBlog on August 22, 2007

Read this full section on Crains about doing business in India.

Posted in Asia Business, Going Global, India Global | Leave a Comment »

China Cracking The Mobile Ad Business

Posted by iBlog on August 22, 2007

Advertising to the world’s largest mobile phone user-base should be a marketer’s dream. Yet China’s mobile advertising market was valued at just US$17 million last year, well below the US$40 billion spent on ads in total.

A new kind of mobile advertising technology, however, could be the key that unlocks the country’s 461 million mobile phone screens to advertisers.

Read the full article in BusinessWeek.com

Posted in Advertising, Asia Business, China Global, Creativity & Culture, Digital Media, International Business, Telecommunications | Leave a Comment »

Business Organization In Thailand

Posted by iBlog on August 21, 2007

Basic Business Organization

By Ekkapon Yuangnark

There are many kinds of business organization for person who would like to do business in Thailand. However, the basic and most favorable are as followings:

1. Sole Proprietorship :

The Sole Proprietorship is an unincorporated business owned by one person. All the proprietor’s assets, both business and personal, are subject to attachment or other legal action which may be brought with respect to the business.

2. Partnership :

According to Thai law, there are three different types of partnership. They are (1) unregistered ordinary partnership, (2) registered ordinary partnership, and (3) limited partnership. A joint venture or consortium is deemed as kind of unregistered ordinary partnership but may be treated differently under the Revenue Code.

(A) Unregistered Ordinary Partnership

An unregistered ordinary partnership is one in which all partners are, without limit, jointly liable for all the obligations and debts of the partnership. The partnership cannot be regarded as a juristic entity separate from each partner, who must make a contribution in the form of money, properties or services.

(B) Registered Ordinary Partnership

If an ordinary partnership is registered, it becomes a separate juristic entity from each partner, who thereby gains the following advantages:

(1) The assets of the partnership have to be examined before creditors can claim debt payment from the partners. This is unlike an unregistered ordinary partnership, in which each partner is directly liable for debts incurred by the partnership.
(2) The liability of a partner for debts incurred is limited to two years from the date he ceased to be a member.

(A) Limited Partnership

(1) A limited partnership consists of two types of partner:
(a) one whose liability is limited to the specific amount which he has contributed to the partnership, and
(b) one whose has unlimited liability for all debts incurred by the partnership.
(2) A limited partnership must be registered and is regarded as a separate entity.
(3) It should only be managed by a partner who has unlimited liability.
(4) If the business of the partnership is managed by a partner whose liability is limited, that partner will become unlimitedly liable for all debts incurred by the partnership.
(5) Partners with limited liability are entitled to carry on business of the same nature as that of the partnership and are free to transfer their shares without prior consent of the other partners.
(6) Creditors of the partnership are not entitled to sue partners with limited liability unless the partnership is dissolved. Even then, creditor can claim only the following amounts:
(i) part of the undelivered contribution,
(ii) part of the contribution which has been withdrawn,
(iii) divined or interest received in bad faith or contrary to the law.
(7) New partners cannot be introduced into the partnership without the consent of all other partners. A new partner is liable for any of the partnership’s debts from time of his becoming a partner. Similarly, an ex-partner is liable for debts incurred by the partnership up to the termination of his right as a partner.

An ordinary partnership is dissolved if :

(i) Terms of contract of partnership provide for it.
(ii) A definite period of time descried in the terms of partnership has expired.
(iii) The partnership was formed for a single undertaking, which has been completed.
(iv) Any of the partners gives due notice to the others
(v) Upon death, bankruptcy or incapacity of a partner.
In (iv) and (v) above, the partnership can continue to exist if the remaining partners buy the shares of the withdrawing partner.

An agreement on how the profits and losses of the partnership are to be divided should be made between the partners of the partnership. In the event that no such agreement has been made, each partner’s share in the profits and losses will be calculated in accordance with the proportion of his contribution.

The partner should also make an agreement concerning the manner in which the business of the partnership should be managed. In the absence of such an agreement, the business of the partnership may be managed by each of the partners, who are jointly responsible for the acts of any other partner in the ordinary course of business. Relations between the managing partners and the other partners are governed by the laws of agency.

Unless consent is given by other partners, each partner is prohibited from carrying on any competitive business of the same nature as that of the partnership. If this does occur, the other partners are entitled to claim back any profits made, and/or compensation for any injury suffered by the partnership in consequence.

If the partnership is dissolved, liquidation shall take place unless ;

(a) some other method of property adjustment has been agreed upon by the partners,
(b) The partnership is adjudicated bankrupt.

Liquidation of a partnership must be done in accordance with the following procedure:

(i) Repayment of debts to third party.
(ii) Reimbursement of advances made and expenses incurred to the partners in managing the business of the partnership.
(iii) Return of each partner contribution.
(iv) Division of any remaining balance between the partners, as profit.

3. Limited Company :

Under Thai law, there are two types of limited companies, private company and public company. In this brief shall mention to private company only.

Limited company is a company which is formed with a capital divided into equal shares. The advantage of conducting business in the form of a limited company is that people can participate in large-scale business activities with their liability being limited to the amount unpaid on the shares held by them.

The procedure for forming a limited private company is as follows:

(1) The promoters of the company must file a memorandum of association. The memorandum of association shall contain the following information:
– the full name and intended location of the company,
– the objectives of the company,
– the intended location of the head office of the company,
– a declaration of the shareholder’s limited liability,
– the amount of share capital, and the value of each share,
– the name, address, occupation, and signature of each of the promoters together with the number of shares subscribed to by each.
(2) The official in charge of company registration will review the memorandum of association, especially the company objectives, to determine whether it is (a) against the law, or (b) detrimental to public morals. Once satisfied, registration will be granted.
(3) After registration, the company promoters will try to have all shares subscribed to. A private company is not permit to invite the public to subscribe to the shares.
(4) After all shares have been subscribed to, the promoters of the company must immediately call a general meeting of subscribers. This meeting is the statutory meeting, which should call :
(a) adoption of the company regulations,
(b) rectification of any transactions or expenses made by the company promoters during the formation of the company,
(c) determining and fixing the amount to be paid to promoters,
(d) fixing the number of preference shares, if any,
(e) fixing the number of ordinary and preference shares to be allocated as fully or partly paid up in place of money, and determining the amount at which they shall be considered as paid up, and
(f) appointment of directors and auditors and establishment of their respective power.
(5) After the statutory meeting, the promoters shall hand the business over to the directors.
(6) The directors shall cause the promoters and subscribers to pay up each share in money at an amount of not less than twenty-five prevent of the par value.
(7) When the above mentioned amount has been paid, and within three months of the statutory meeting, the directors must apply for registration of the company.

Regulation of the Company :
Shareholders will normally adopt company registrations. These regulations will be registered. They are deemed as the law governing the company’s business and binding the director, shareholders and outsiders in accordance with the company’s resolutions which require approval of the shareholders.

Management of the Company’s Business :
The company’s business is to be managed by the directors of the company as appointed at the meeting of the shareholders. The first group of directors are appointed at the statutory meeting and thereafter at the ordinary meetings. The directors have to manage the company’s business in accordance with the regulations passed at the first general meeting of shareholders. The regulations will usually specify which director(s) are to conduct transactions with outsiders. However, if other directors have an agency relationship with the company, they may conduct transactions which bind the company to outsiders. In this case, these directors will also be responsible to the company and the shareholders.

Although the directors have the authority to conduct all types of legitimate business on behalf of the company, there are some things for which they must obtain the approval of the shareholders at the shareholder’s meeting. These are :
(1) appointment and removal of directors(s),
(2) appointment of auditor(s),
(3) declaration regarding distribution of dividends,
(4) conducting business involving capital, fully or partly paid up in any form other than money,
(5) dissolution of the company,
(6) amalgamation with other company(ies),
(7) other matters recorded in the regulations of the Company.

4. Joint Venture :

A contractual unincorporated joint venture or consortium is not recognized as a unique legal entity under the Civil and Commercial Code, except, perhaps as a form of partnership, but these forms of organization are recognized under the Revenue Code.

5. Branches of Foreign Company :

There is no special requirement for foreign company to register its branch in order to do business in Thailand. However, most businesses fall within the scope of one or more laws or regulations which require a registration, either before or after commencement of activities and foreign business must follow the generally applicable procedures.

6. Representative Office :

By a regulation of the Prime Minister’s Office, special procedures were establishes for those companies that wish to establish branches in Thailand to engage in limited “non-trading” activities. These procedures are optional but may be beneficial in certain circumstances. If the business activities of a foreign company are limited to the search for Thai products to be exported to other organs of the company or to do quality control work associated with such purchase or to engage in market survey activities, it is recommended to register as representative office. If a company is accepted for this representative office, expedited visas and wok permits for up to two foreigners to work in the branch are available.

Posted in Articles By Author, Asia Business, Business Tactics, China Global, Consulting, Corporate Strategy, Entrepreneurship, Going Global, Hiring & Training, Innovation, International Business, Management, Researching, Small Business | Leave a Comment »

Chine May Not Be Shielded

Posted by iBlog on August 20, 2007

Beijing believes the impact of the U.S. subprime crisis on China will be limited. Morgan Stanley says it could be hit by what it is labeling a “fourth-generation” emerging markets financial crisis.

Read the full article in Forbes.com

Posted in Asia Business, China Global, World News | Leave a Comment »

India’s Parties Debate Terms

Posted by iBlog on August 20, 2007

India’s ruling coalition has agreed to set up an expert group to pore over the details of its nuclear accord with the United States, amid strident opposition from communist allies that could derail the government’s deal.

Read the full article in Forbes.com

Posted in Asia Business, India Global, World News | Leave a Comment »

China’s Noveaux Riches Live It Up

Posted by iBlog on August 20, 2007

How do China’s nouveaux riches live their newly affluent lives?

They spend up to $10,000 on leisure and recreational activities. They are particularly fond of overseas travel, enjoy foreign films, work relatively short hours, value bonding with family, are unstintingly generous toward charitable causes, and increasingly have acquired a taste for art and antiques.

Read the full article in Forbes.com

Posted in Asia Business, China Global, World News | Leave a Comment »

Asian Markets Rebound

Posted by iBlog on August 20, 2007

Asian markets rebounded Monday, taking their cue from Wall Street’s recovery late last week after the Federal Reserve cut a key interest rate. The Tokyo benchmark index jumped 3.7 percent in morning trading after ending last week with its biggest point drop in more than seven years.

Read the full article in FastCompany.com

Posted in Asia Business, China Global, World News | Leave a Comment »

Raising Japan’s Cool Quotient

Posted by iBlog on August 20, 2007

For the last couple of decades, Japan has been far better known as a super-efficient manufacturer of autos, machine tools, wide-screen TVs, and super-computers than as a bastion of hip. Yet this decade, both former Prime Minister Junichiro Koizumi and the current one, Shinzo Abe, have identified the competitiveness of the country’s cultural exports as a huge priority.

Read the full article in BusinessWeek.com

Posted in Asia Business | Leave a Comment »

India’s 50 Most Powerful People

Posted by iBlog on August 20, 2007

The politicians, business leaders, film stars, athletes, and designers behind India’s growing international presence in the world

Read the full article in BusinessWeek.com

Posted in Asia Business, India Global | Leave a Comment »

India’s Talent Gets Loads of TLC

Posted by iBlog on August 20, 2007

A visit to Infosys Technologies’ Mysore campus highlights the extraordinary measures Indian companies are resorting to these days to attract and retain top talent. The 334-acre site boasts a multiplex theater shaped like a giant white dome, four huge food courts, 96 hotel-like guest houses, and a stylish activity center with a gym, pool hall, and eight-lane bowling alley. Last year the outsourcing company trained 20,000 recruits in everything from software writing to teamwork. Expansions under way will enable Infosys to train twice as many. “When I heard IBM’s presentation at a job fair, they talked a lot about their brand and innovation but not much about training,” says Sanjay Joshi, 22, a graduate of MS Ramaiah Institute of Technology in Bangalore. “That’s why being at Infosys is the Indian middle-class dream.”

Read the full article in BusinessWeek.com

Posted in Asia Business, India Global | Leave a Comment »

Asia Cash Is King In Uncertain Times

Posted by iBlog on August 20, 2007

Asia hasn’t escaped completely unscathed from the U.S. housing bust and the resulting shock waves that have reverberated throughout global credit markets. Regional financial players such as Australia’s Macquarie Bank (MQBKY), Shinsei Bank (SKLKF) in Tokyo, and several Taiwanese insurers with exposure to high-risk mortgage-backed securities have taken hits. And Wall Street’s big price swings in recent weeks have driven down Asian stock prices to near two-month lows.

Read the full article in BusinessWeek.com

Posted in Asia Business, China Global | Leave a Comment »

Druckers Lessons For China

Posted by iBlog on August 20, 2007

The most dangerous thing being produced in China is neither lead paint-laden toy cars nor magnet-spewing Polly Pocket dolls and Batman action figures. Rather, it is a booming capitalist culture that, far too often, places value over values.

Read the full article in BusinessWeek.com

Posted in Asia Business, China Global, Economy Today, Going Global | Leave a Comment »

China Eyes Investing On Private Equity, Hedge Funds

Posted by iBlog on August 19, 2007

The steep paper losses that China has suffered on its $3 billion investment in Blackstone Group will not deter its embryonic sovereign wealth fund from making further investments in private equity and hedge funds, according to a senior official.

Read the full article on yahoo news

Posted in Asia Business, China Global, Finance, Going Global, International Business, Investing | Leave a Comment »

Arc Animates AP in Asia

Posted by iBlog on August 9, 2007

Hewlett-Packard, the No. 1 PC seller in the world, is turning to animation for its latest Asia-Pacific interactive business-to-business push from Arc Worldwide in Singapore, part of Publicis Groupe’s Leo Burnett.

Read the full article in AdWeek

Posted in Advertising, Asia Business, China Global, Creativity & Culture, Digital Media, Innovation, Technology | Leave a Comment »

Tiffany Opens Boutique In Nagoya Japan

Posted by iBlog on August 9, 2007

TOKYO–(BUSINESS WIRE)–Tiffany & Co. (NYSE: TIFNews) today announced plans to open a new boutique in Matsuzakaya Nagoya flagship store (3-16-1, Sakae Naka-ku Nagoya-shi, Aichi) on September 26. The store is ideally located on Otsu-dori (boulevard) in Sakae, Nagoya-shi, a vibrant area of luxury shopping and restaurants.

Read the full article in Yahoo Finance

Posted in Asia Business, Fashion & Beauty, Luxury, Retail Market | Leave a Comment »

Thailand’s Economic Prospects

Posted by iBlog on August 9, 2007

O bservers around the world looked on with alarm on September 19, 2006, when Thailand’s Prime Minister Thaksin Shinawatra was deposed by the military in a bloodless coup led by General Sonthi Boonyaratglin, the commander-in-chief of the armed forces. Since taking office in 2001, Thaksin had guided Thailand through five years of impressive economic growth. But despite initial fears concerning Thailand’s post-coup economic prospects, the military government has the potential to improve the Thai economy by continuing Thaksin’s successful policies while resolving problems that Thaksin had failed to address.

Read the full article in Harvard International Review

Posted in Asia Business, Going Global, World News | Leave a Comment »

Multi-Culturalism In Asia

Posted by iBlog on August 9, 2007

What makes multiculturalism in contemporary Asia so different from its Western counterpart? And by the same token, how might Asian engagements with multiculturalism help inform and expand concepts of multiculturalism itself? Multiculturalism in Asia, edited by Will Kymlicka and Baogang He, offers an articulate, thought-provoking look at one of the most ethnoculturally diverse regions in the world as it struggles to come to terms with ideas of socio-cultural identity, pre- and post-colonial legacies, and the necessities of economic and political survival in increasingly global contexts. Management of ethnocultural diversity is essential to the stability of the region and is also thought to be key to the process of democratization. It involves not only identity politics and the equitable sharing of power, but also broader questions of entitlement, justice, and the framing of issues in ways that are both universally and locally appropriate. Kymlicka and the other contributors necessarily engage these issues from perspectives of minority rights only, but ultimately these are profoundly human issues that involve what it means to be human and part of civilized society. In that sense, Multiculturalism in Asia helps underscore the urgent need in the region to develop leadership and an educated public conversant in both indigenous and foreign humanistic traditions

Read the full article in Harvard International Review

Posted in Asia Business, China Global, Going Global | Leave a Comment »

India’s Way: Crafting Special Economic Zones

Posted by iBlog on August 9, 2007

In June 2005, the Indian government passed an act intended to significantly increase exports by legalizing the creation of numerous Special Economic Zones (SEZs). These zones are designed to increase economic growth and lure foreign investment with incentives such as tax exemptions and industrial business parks. SEZs have existed in Asia for many years now, and their success in China prompted India to introduce the same policy in 2000. As India embarks on its own SEZ program, it should study China’s policies and success, but it must be wary of a wholesale importation of China’s methods. India must acknowledge and take into account the vast differences between the two countries when crafting its own policies.

Read the full article in Harvard International Review

Posted in Asia Business, Going Global, India Global | Leave a Comment »

Going Forward

Posted by iBlog on August 9, 2007

Most headlines featuring India today focus on its impressive economic growth, outsourcing, and impact on information technology globally. Multinational firms eye the country’s growing, confident middle class with enormous interest, while its demographics, with a growing work force, seem favorable to continued economic dynamism. “India shining” became the slogan of the Bharatiya Janata Party (BJP), headlining the ruling coalition in the 2004 parliamentary elections. Dig deeper, though, and the numbers on basic health, nutrition, and education still leave much to be desired. According to Devesh Kapur in his article “India’s Promise” in a recent Harvard Magazine article, governance – including law and order, provision of basic needs in health and education, and overall fiscal management – continues to be one of India’s greatest weaknesses, despite the resilience of its democratic system. Symptoms of governance failure include an increase in grassroots insurrections in several Indian states and voter dissatisfaction. In 2004, the BJP-led coalition lost over a quarter of its parliamentary seats and the chance to govern India, despite India’s economic progress under the coalition. The Indian National Congress party, leader of the successor coalition government, has since struggled to find a policy orientation that provides greater inclusiveness in economic development.

Read the full article in Harvard International Review

Posted in Asia Business, India Global | Leave a Comment »

India Needs Its NGOs

Posted by iBlog on August 9, 2007

Rita Anand and Umesh Anand are the founders of Civil Society, a monthly publication which tracks Indian citizens with ideas for societal change. Civil Society was launched to show that small printing businesses are viable and necessary in a media environment dominated by big corporations. In the three years since its inception, Civil Society has come to be respected for its independent viewpoints. Its readership ranges from India’s CEOs to village activists.

Read the full article in Harvard International Review

Posted in Asia Business, India Global | 1 Comment »

Rethinking Asia’s Cold War Alliances

Posted by iBlog on August 9, 2007

At the conclusion of the Second World War, the United States established bilateral military alliances in the Asia-Pacific intended to contain Soviet and Chinese communist expansion in the region. US security strategy now focuses largely on combating terrorism and denying weapons of mass destruction to so-called rogue states. It is a strategy that cannot be implemented with geographic mutual defense treaties formed to address conventional military threats. Furthermore, the United States has demonstrated in Afghanistan and Iraq that it is prepared to pursue its global security interests unilaterally, even at the risk of its political relations with traditional alliance partners. What happened over Iraq between the United States and its European allies could equally happen between the United States and its Asian allies over Taiwan or North Korea with serious consequences for the interests of countries in that region. East Asian powers need to develop a collective security strategy for the region that does not rely on the United States’ participation. Prudence suggests that East Asian countries need to take the opportunity offered by the recently inaugurated East Asian Summit (EAS) to begin the process of developing an East Asian community as the first step toward the realization of an East Asian Union. This will occur only if led by a strong, proactive Association of Southeast Asian Nations (ASEAN).

Read the full article in Harvard International Review

Posted in Asia Business, China Global, Going Global | Leave a Comment »

Shanghai – Another Hongkong?

Posted by iBlog on August 9, 2007

Shanghai and Hong Kong are both known internationally as Asia’s leading business and economic centers in Asia. Shanghai’s reputation was established primarily before the Second World War when it was one of the safest and most open cities in a land of unending turmoil. Hong Kong emerged onto the international scene after the Second World War as one of Asia’ greatest economic miracles and the world’s freest economy. In some ways, Hong Kong’s rise was partly a consequence of Shanghai’s decline after China embarked on a course of socialist experimentation

Read the full article in Harvard Internation Review

Posted in Asia Business, China Global, Going Global | Leave a Comment »

The Gucci Killers

Posted by iBlog on August 9, 2007

It’s 10 till 10:00 on a dark night in a 1,300-year-old Confucian temple in Shanghai, and if the weather is any indication, Confucius is ticked. October is traditionally a dry month in this part of eastern China. Indeed, yesterday was sunny, and tomorrow is predicted to be glorious. But a steady rain has been falling since late afternoon and shows no signs of letting up. Journalists from three continents, local bigwigs, style-obsessed Chuppies, and even three athletes from China’s 2002 World Cup soccer team–certified national heroes–are huddled under umbrellas in the wings, drinking champagne, waiting for a fashion show to begin.

Read the full article on Fastcompany.com

Posted in Asia Business, China Global, Luxury, Online Retail, Retail Market | Leave a Comment »

eBay Heads East

Posted by iBlog on August 9, 2007

Two years ago, the 24-year-old Cai was a brand-new college graduate just hoping to eke out a living. Now he runs a tiny international business, buying toys from local factories at ultracheap prices and hawking them on an eBay store (51Toy.com). Last winter, he was pulling down $6,000 in monthly sales, with a profit margin as high as 40%, which puts him in the top fifth of earners in China–better than most white- collar workers. Almost 90% of his customers send their payments to him online. “The Internet,” he says through a translator, “is how I reach the world.”

Read the full article on Fastcompany.com

Posted in Asia Business, China Global, Going Global | Leave a Comment »

Is China The Next Economic Superpower?

Posted by iBlog on August 9, 2007

Is China the next economic superpower? Ming Zeng of Cheung Kong business school and Elizabeth Economy from the Council on Foreign Relations hash it out.

Read the full article in FastCompany.com

Posted in Asia Business, China Global, Going Global | Leave a Comment »

China Finds Its Muse

Posted by iBlog on August 9, 2007

A superstar on both sides of the Pacific, Zhang is one of the highest-paid actresses in Chinese history, a one-in-a-billion brand. Now she’s looking to use that success to drive the already remarkable growth of the national film industry. “There is a gate that has gradually been opened for creative people like actors and directors in China,” she says, “and now we have the chance to show other countries what we can do. We’re just a baby, but because of the Internet, TV, and cable, we are slowly learning. Even since a year ago, you see a difference.”

Read the full article in Fastcompany.com

Posted in Asia Business, China Global | Leave a Comment »

Microsoft Conquers China

Posted by iBlog on August 9, 2007

View the full video on Fortune.com

Posted in Asia Business, China Global, Videos | Leave a Comment »

Japanese Retailer Drops Bid For Barneys

Posted by iBlog on August 9, 2007

TOKYO – Fast Retailing of Japan said Thursday it is dropping its attempt to buy U.S. luxury chain Barneys New York Inc., ending its bidding war with an affiliate of Dubai-based Istithmar PJSC.

Apparel designer and marketer Jones Apparel Group Inc. (nyse: JNYnews people ) said Wednesday it signed a definitive agreement to sell Barneys to a Dubai investment company, which was forced to sweeten its bid because of Fast Retailing’s counter offer.

Read the full article in Forbes.com

Posted in Asia Business, Current News, Finance, Retail Market | Leave a Comment »