Well-known investment guru Dr Niwes Hemvachiravarakorn told a seminar last week that three funerals he had attended recently were for those who were aged 100 or over.
“This is a sign that people are living longer. Nowadays being 50 or 60 years old is not considered old,” he said, suggesting that asset management companies should reconsider their investment portfolio recommendations to older investors to be more overweight on stocks.
But, Prapas Tonpibulsak, chief investment officer of Krungsri Asset Management, that hosted the seminar, suspected Niwes might have hinted at more than that … like a hospital stock?
In the Thai spirit
Asked why V-Gulliver had taken nearly one year to open its first showroom here, Katsushi Nomura, the 33-year-old managing director of the Thai subsidiary of Japan’s No 1 used-car company, simply explained “We call it ‘Thailand’s time’.”
Instead of complaining about some red tape that he faced in starting up the business here, Nomura said it was okay as he understood the need to “localise” to the local conditions. Well, be careful, Nomura, you don’t know how many Japanese have become “localised” and altered their working speed to “sabai, sabai” as Thais.
Riding the junta’s juggernaut
Piyasvasti Amaranand has kept his tongue sharp. At a Euromoney conference last week, the former energy minister said he had recently met with some property developers who complained about their problems involving procedures in getting environmental impact assessment (EIA) approvals.
“The energy sector has faced this problem for decades, now the property sector faces the same thing,” he said, and went on to explain that the environment procedures are necessary but investors need clear and predictable regulations to avoid ‘hidden costs”.
“Now it’s a good time to do it before there’s a parliament,” said Piyasvasti, drawing a big laugh from the audiences.
Contributed by Pichaya Changsorn