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dirtydog · 17-11-2009, 11:52 PM

Curtains drawn on Elite Card

The beleaguered Thailand Elite Card project is to be taken off the backs of taxpayers, with the cabinet deciding to sell its operator to a private company in an auction.

Prime Minister Abhisit Vejjajiva said the loss-ridden project would become the government's burden in the long run if it was allowed to continue.

The premier pledged to retain fast-track immigration and visa procedure privileges on condition that the potential buyer shoulders the project's accumulated debts.

According to Mr Abhisit, the cabinet on Tuesday assigned the Finance Ministry and the National Economic and Social Development Board to draft conditions to auction off Thailand Privilege Card (TPC), the operator of the lifetime membership card.

The draft is set to be finished in one month and the auction completed in three months.

If TPC could not be sold in three months, the government will dissolve the company and transfer its members to the care of the Tourism Authority of Thailand and no new members would be accepted.

In that case, the government would need to compensate existing cardholders.

According to a Tourism and Sports Ministry report, if TPC closed, the government would have to pay a total of 2.39 billion baht to the cardholders.

It will also be obliged to pay 10 million baht in severance pay to staff, as well as 101 million baht in debts.

Bangkok Post

peterpan · 18-11-2009, 03:55 AM

It was never going to fly from day 1 and should have been shut down long ago but Asian denial being what it was meant a loss of face to do so.
Good riddance to stupid idea.

kingwilly · 18-11-2009, 04:06 AM

What buyer would be stupid enough...?

dirtydog · 18-11-2009, 04:13 AM

^My mate bought one, only for the visa stuff though.

kingwilly · 18-11-2009, 05:08 AM

I meant what potential buyer of the whole scheme would be stupid enough to take on 3 billion debt and be lumbered with the scheme.

BobR · 18-11-2009, 05:13 AM

Quote:

Originally Posted by kingwilly

I meant what potential buyer of the whole scheme would be stupid enough to take on 3 billion debt and be lumbered with the scheme.

I'm sure that for some one or some company wealthy enough not to care about the losses there would be a lot of power and prestiege that would come with it, not to mention the friends they would make in high places by taking it off their hands and helping everyone save face. That's the only rational reason I could think of.

Gipsy · 18-11-2009, 07:37 AM

Quote:

Originally Posted by BobR

I'm sure that for some one or some company wealthy enough not to care about the losses there would be a lot of power and prestiege that would come with it, not to mention the friends they would make in high places by taking it off their hands and helping everyone save face.

Sure there's someone.... but looks like he's got problems enough with Thailand's elite.

17-11-2009, 11:52 PM	#1 (permalink)
dirtydog The Dog Last Online: Today 12:48 PM Join Date: Jun 2005 Location: Pattaya Jomtien Posts: 44,978	Curtains drawn on Thai Elite Card Curtains drawn on Elite Card The beleaguered Thailand Elite Card project is to be taken off the backs of taxpayers, with the cabinet deciding to sell its operator to a private company in an auction. Prime Minister Abhisit Vejjajiva said the loss-ridden project would become the government's burden in the long run if it was allowed to continue. The premier pledged to retain fast-track immigration and visa procedure privileges on condition that the potential buyer shoulders the project's accumulated debts. According to Mr Abhisit, the cabinet on Tuesday assigned the Finance Ministry and the National Economic and Social Development Board to draft conditions to auction off Thailand Privilege Card (TPC), the operator of the lifetime membership card. The draft is set to be finished in one month and the auction completed in three months. If TPC could not be sold in three months, the government will dissolve the company and transfer its members to the care of the Tourism Authority of Thailand and no new members would be accepted. In that case, the government would need to compensate existing cardholders. According to a Tourism and Sports Ministry report, if TPC closed, the government would have to pay a total of 2.39 billion baht to the cardholders. It will also be obliged to pay 10 million baht in severance pay to staff, as well as 101 million baht in debts. Bangkok Post __________________ To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

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18-11-2009, 03:55 AM	#2 (permalink)
peterpan Limp member Join Date: Mar 2006 Location: Pleasantville Posts: 6,342	It was never going to fly from day 1 and should have been shut down long ago but Asian denial being what it was meant a loss of face to do so. Good riddance to stupid idea.

18-11-2009, 04:06 AM	#3 (permalink)
kingwilly The Teakdoor Traitor Join Date: Jan 2006 Posts: 35,946	What buyer would be stupid enough...?

18-11-2009, 04:13 AM	#4 (permalink)
dirtydog The Dog Last Online: Today 12:48 PM Join Date: Jun 2005 Location: Pattaya Jomtien Posts: 44,978	^My mate bought one, only for the visa stuff though.

18-11-2009, 05:08 AM	#5 (permalink)
kingwilly The Teakdoor Traitor Join Date: Jan 2006 Posts: 35,946	I meant what potential buyer of the whole scheme would be stupid enough to take on 3 billion debt and be lumbered with the scheme.

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