The ministry is working with the Federation of Accounting Professions and the Securities and Exchange Commission (SEC) to reform auditing procedures and supervision of the service providers. Boonyarit Kalayanamit, commerce permanent-secretary and the chairman of a committee supervising the accounting profession, said that the reform moves were expanding in their scope to include auditing offices, rather than the control only of accounting auditors as originally envisaged. “Initially, the SEC hired researchers to study foreign laws related to the supervision of auditing offices and auditors as information for the planned amendment of the Securities and Exchange Act, B.E. 2535,” Boonyarit said. “The Ministry of Commerce’s Department of Business Development is considering to propose an amendment of the Accounting Professions Act, B.E. 2547 so that it will be in line with the planned restructuring.” The three parties plan to encourage … [Read more...] about Overhaul of supervision of auditing practices under way
Thai listed companies association
Thai Airways president Sumeth Damrongchaitham remains bullish. Passenger traffic during the low tourism season in the third quarter will have a direct bearing on Thai Airways International Plc's (THAI) revenue for the entire year, says a source at the national carrier.THAI has acknowledged that although the country is the top tourist choice for Chinese visitors, confidence in travel safety and tensions over the US-China trade war could push down the number of Chinese travellers to Thailand, which threatens to hurt the airline's profits. Declining passenger traffic may have started as early as the first quarter of this year, the airline said in an email interview with the Bangkok Post. The airline has said the number of Chinese tourists decreased by 1.7% in the first quarter compared to the same period last year. The new concerns threaten to further contribute to the decline in air traffic to and from China. "It's worth being aware of those potential impacts," the national … [Read more...] about Declining tourist numbers put pressure on THAI
With eight of the cast from the membership of idol group BNK48, two of them in the leading roles, movie-goers could be forgiven for thinking that Kongdej Jaturanrasmee’s latest film “Thee Trong Nan Me Chan Rue Plao” (“Where We Belong”) is a BNK48 movie about the friendships between adolescent girls. Hardcore fans of the director, however, will know that Kongdej’s inimitable signature will be on the story and that it will be well worth watching no matter what the genre. Coming to cinemas next Thursday, “Where We Belong” is centred on Sue (Jennis Oprasert) who is spending her last week in her hometown of Chantaburi before leaving for Finland. She’s won a scholarship to study there and accepted it without telling her father. The two argued over her decision and haven’t talked since. Sue, who has never been aboard before, packs her luggage with the help of her friend Belle (Praewa “Music” … [Read more...] about The things we leave behind
Their early days there were rough. They had no language skills in either Tagalog or English, and Xu says the authorities frequently shut down businesses in Chinatown, partly because many were evading taxes. He found himself in a police station on more than one occasion. "I would get in there and everyone arrested would be Chinese. I was scared. I was so young at the time," he says. Now the owner of a range of businesses offering services from rice imports to printing, Xu believes Chinese immigrants must adjust and integrate into the local culture, which he says includes small but significant idiosyncrasies such as the tendency for Filipinos to dislike Chinese bosses disciplining staff in front of other workers. He does not see a great deal of anti-Chinese sentiment outside of a small group of Filipinos he believes are seeking to incite hatred. Fellow immigrant Ken Hong, 43 and also from Fujian, has done almost every job imaginable since he arrived in Manila nine years ago. He went … [Read more...] about Why are Chinese workers so unpopular in Southeast Asia?
During the Private Sector Development Committee meeting with President U Myint Swe on April 27, Daw Su Hlaing , Secretry of Myanmar Retailers Association, voiced concern for the survival of local retailers in the face of foreign competition. She said the government should have a plan to protect local retailers before allowing foreign companies to compete in the market, adding that local companies face challenges such as a lack of funds, high interest rates and expensive rental, making it hard for them stay profitable. In comparison, foreign retailers enjoy many incentives under the Myanmar Investment Law that make it easier for them to do business in the country, she said. At the meeting, U Phyo Min Thein, Yangon Region Chief Minister, said: “Local businesses worry about the government allowing foreign companies to do business here. But they should not be fearful as they have a better understanding of Myanmar markets and culture.” This comes after the … [Read more...] about Locals call for more regulation in retail sector