Yaaklenmai

The development, I live on, is being offered the opportunity (by the developer) of forming a company to manage our own affairs OR have our sois, communal gardens etc handed over to the local government.

Having studied the pros & cons I think that there is only one sensible option and that is to take responsibility for ourselves.

However, I am unsure about the legal situation, in Thailand, regarding the following:

1) Proxy votes

A number of the home owners are not residents, on the development, primarily using their houses as weekend homes with a couple having rented them out.

But, as only home owners will be allowed to vote, on whether to establish a company, (or not) the issue of proxy voting takes on major importance.

So.

i. Is there any required format for the proxy form itself?

ii. Is there any specific information that the form must contain to allow someone to utilise that proxy?

iii. What method can be used to send the form? i.e. Can it be emailed, faxed or must it be the original document and must it be received a stipulated time ahead of the meeting when the vote will be held?

We will require 50%+ of home owners to vote for establishing a company and would not want the legality of any proxy votes questioned.

2) The Articles of Association (Incorporation).

Assuming that the meeting votes in favour of establishing our own company and then elects a committee, who will become the board of directors, the first thing that they must address are The Articles.

So.

i. Is there anything, in Thai Law, which is different from that which applies in The West, which would expect them to cover the purpose of the company, how directors are elected, their responsiblities, their powers etc.?

ii. Given that the company formation will require 50+% of all house owners to vote in favour of it, is there any Thai Law which stipulates:

iii. Whether the articles need to be voted upon at all?

and (if so)

iv. Whether a majority of home owners (shareholders) must vote to ratify (accept) them OR if a simple majority of those present at a meeting (called for that purpose) is acceptable?

3) The costs involved.

The developers appear to be very keen for us to form the company, rather than cede the land to the local government, however, no mention (as yet) has been made of the costs of formation.

So

In the event (unlikely I feel) of the developer not wishing to meet these what would our liability (realistically) be?

Hopefully, someone on here will be able to provide the information I'm looking for.

Many thanks in advance!


FAO Moderators!

I posted this, yesterday, in the "Real Estate, housing, house and land ownership" forum but looking at the number of views (and 0 replies) I think I will not get the answers I need there.

Please, please leave here, where I may have more success!

The development, I live on, is being offered the opportunity (by the developer) of forming a company to manage our own affairs OR have our sois, communal gardens etc handed over to the local government.

Having studied the pros & cons I think that there is only one sensible option and that is to take responsibility for ourselves.

However, I am unsure about the legal situation, in Thailand, regarding the following:

1) Proxy votes

A number of the home owners are not residents, on the development, primarily using their houses as weekend homes with a couple having rented them out.

But, as only home owners will be allowed to vote, on whether to establish a company, (or not) the issue of proxy voting takes on major importance.

So.

i. Is there any required format for the proxy form itself?

ii. Is there any specific information that the form must contain to allow someone to utilise that proxy?

iii. What method can be used to send the form? i.e. Can it be emailed, faxed or must it be the original  document and must it be received a stipulated time ahead of the meeting when the vote will be held?

We will require 50%+ of home owners to vote for establishing a company and would not want the legality of any proxy votes questioned.

2) The Articles of Association (Incorporation).

Assuming that the meeting votes in favour of establishing our own company and then elects a committee, who will become the board of directors, the first thing that they must address are The Articles.

So.

i. Is there anything, in Thai Law, which is different from that which applies in The West, which would expect them to cover the purpose of the company, how directors are elected, their responsiblities, their powers etc.?

ii. Given that the company formation will require 50+% of all house owners to vote in favour of it, is there any Thai Law which stipulates:

iii. Whether the articles need to be voted upon at all?

and (if so)

iv. Whether a majority of home owners (shareholders) must vote to ratify (accept) them OR if a simple majority of those present at a meeting (called for that purpose) is acceptable?

3) The costs involved.

The developers appear to be very keen for us to form the company, rather than cede the land to the local government, however, no mention (as yet) has been made of the costs of formation.

So

In the event (unlikely I feel) of the developer not wishing to meet these what would our liability (realistically) be?

Hopefully, someone on here will be able to provide the information I'm looking for.

Many thanks in advance!

When any two companies "merge" it is normal for the computer records to be consolidated onto the system of the senior partner in the "merger".

Now, as I understand matters, most banks (but not all) use mainframes running UNIX and, therefore, if a "merger" takes place it is easy to create one database.

OK, fields may need to be adjusted but, again, that is a simple task.

If two companies do not run the same O/S it is still, relatively, simple because there are many programs that exist that can make them compatible and, again, it is straightforward to move the data currently in field "a" to field "b".

That, though, does not appear the way that two of Thailand's banks are handling their "merger".

I'm referring to Thancharat Bank (TBank) and Siam City Bank.

I wonder just how happy, if you are a customer, that you will be to learn that all of the customer records are being transferred manually?

In this day and age I find that remarkable UNTIL I think of where we are and the way that authorities will turn a blind eye to fraud!

By utilising the manual transfer method it gives the opportunity for:

1) Individuals to adjust/create balances - either intentionally or otherwise.

2) Individuals to vary interest rates on loans - either intentionally or otherwise.

3) Individuals to delete loans and load the interest onto another account (intentionally).

I don't think that I need to go on, apart from one more point.

It will allow any senior employee of Tbank to pocket billions of THB, without fear of discovery - after all, if there is no computer program that can run a detailed comparison, between the two databases, who will know?

I would guess that the only way they might know something is wrong would be to use old SCB records for margins etc., etc.,etc. BUT with this being Thailand I would guess that they may just "go missing"

My source for all of this is my "other half", who has worked for Siam City for, approaching, 10 years, but (for obvious reasons) I will neither name, nor give a clue to her branch location, BUT who has not been able to return home for more than a week (because of the hours being worked SEVEN days a week (08.00 - 20.00 is typical - yesterday 07.00 - 23.00) and has to stay with relatives close to her branch.

So, I have to ask:

1) Khun Somjate Moosirilert, CEO of TBank, if he knows what is happening and if he thinks that this is designed to promote confidence in his ethics and those of his bank?


and


2) If The Bank of Nova Scotia, who own a BIG chunk of Thancharat Bank (TBank) realise that they could be in danger of losing their banking licence (in Canada) for being party to this fiasco?


I'm hoping that I will get a response from someone at the bank, but I won't hold my breath!!

Since I've been living in Thailand this is one of the things I've missed most, from home.

Seville oranges, thick cut and not sweet - Hilary even took a jar to the top of Everest!


I missed it so much that I even went so far as contacting International Foods, who now own the brand, and they informed me that they supply no one in Thailand.

However, an update!!

In the UK Tesco sell it both under the branded name and also under their "Finest" label, but have now introduced it to Thailand under their normal Tesco label.

I suspect that it is imported in bulk and put into jars here because the label calls it "Tesco Thick Cut Orange Shred Marmalade" which any Englishman will tell you is a slight contradiction in terms.

That, though, changes nothing - I am a very happy man!!

Especially at only 99THB a 454 gram jar!

What a joke!!

Today I contacted FEDEX in the UK, via their chat link and explained what I wanted to their representative.

This, in simple terms, was to prepay for a shipment from London to Vientiane (Laos) where I was unsure of the exact shipment date, other than it would be in the next 14 days, thus allowing a friend to just call them and they would come and collect, without any problems.

Obviously, they would prefer me to open an account but assured me that was not necessary and provided me with the telephone number in Thailand, which I then called.

In Thailand I was told that I MUST open an account (even though, without one, they will come and collect the shipment/money at the same time) - I wanted to pay them in advance.

This, bearing in mind that I only use a courier (maybe) once a year I saw as being ridiculous but remained calm and asked to be transferred to the guy's manager.

After 25 minutes, listening to music, I hung up!

Do these people want customers or do they not?

I think that the answer is very clear!!!!!!!


MODS - I posted this earlier in the wrong place (The Bangkok Forum) Please delete it.