AUGUST 2018 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #97 TOP NEWS SUPPORTED BY Deutsche Bank: Standing firm against headwinds New Members: Elbaron SA / Dachser (Thailand) Co. Ltd. School News: Job counseling and career orientation at RIS Swiss Section – Deutschsprachige Schule Bangkok / Alphabet Party / Special week at Sri Sangwan School in Khon Kaen 2018 THE PRESIDENT’S MESSAGE DEAR FRIENDS AND MEMBERS OF THE STCC you uneasy. However, amongst this perceived chaos, one sto- ry touched the hearts of many people, and serves as an inspi- ration in making this world a better place. On June 23, the Wild Boars, a team of young football play- PRESIDENT BRUNO G. ODERMATT ers between 11-16 in age, SERVICE ventured into a six-mile-long Looking at the current politi- cave system with their coach STCC CALENDAR cal and business events hap- (25), after a regular weekend pening around the globe, one on the football field. Once Saturday 4th Aug 2018: Swiss National Day at could get the feeling that we inside the cave, heavy rains Embassy of Switzerland, are living in an ever more com- soon lashed at the limestone start 16:00 plex world. Listening to news hills, triggering flash flood headlines, you are bombarded that cut-off their entrance Thursday 9th Aug 2018: with issues such as illegal im- and pushed them deeper into STCC Stamm at Arnoma migration; trade wars amongst the cave, where they found Hotel, 18:00 the largest economies; esca- refuge in elevated areas. They lating conflicts in North Korea, survived nearly 10 days with Thursday 13th Sept 2018: Syria and Iran; hostilities and only a handful of water and STCC Stamm at Arnoma threats amongst former cold snacks until they were found Hotel, 18:00, with a prior war powers, and even the dec- by two expert British cave di- presentation from PIMALI ades-long friendship alliances vers. Scores of international at 17:00 amongst the USA and Europe, experts around the world flew in particular amongst the NATO into Northern Thailand to join Thursday 11th Oct 2018: members, are put into ques- 110 Thai Navy Seals in execut- STCC Stamm at Arnoma tion. It is definitely not a pret- ing a rescue mission that had Hotel, 18:00 ty picture and at times makes been called by other experts 1 AUGUST 2018 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #97 THE PRESIDENT’S MESSAGE SUPPORTED BY as risky, and highly dangerous. respect to the Thai government Alongside volunteers and Thai and Thai Army, who success- Navy Seals, many countries fully executed a complex and sent their own contingents to remarkable rescue operation, Thailand. Cave-diving experts and getting the job done with from Belgium, Denmark, Brit- helping hands from all over the TRINA ain, Laos and Germany joined world. In my eyes they have INTERNATIONAL the Seals, as well as Australian done a marvellous job. police divers, US military Pa- cific Command personnel, and For some more enlightening even 6 rescue specialists from news, Swiss physicist Ursu- Beijing, amongst others. la Keller, head of the insti- tute for Quantum Electronics It was a Thai-led, multi-na- at Zurich´s Federal Institute tional rescue operation and of Technology (ETH Zurich), it was fantastic to see that if was awarded the European nations pull together, despite Patent Office (EPO) “Lifetime ideological differences, they Achievement” award for her SERVICE truly can make a difference. It pioneering work on laser tech- Weekend 13-15. Oct 2018: is a true celebration of human- nology. During her 30 year´s 20 Y STCC Anniversary Celebra- ity. Even US billionaire entre- career at the ETH, she has pat- tion in Kanchanaburi (details preneur Elon Mask, CEO of Tesla ented several inventions which to follow, pls reserve the date) and SpaceX, flew in with “kid- helped make ultra-fast lasers size” mini-submarine, which commonplace in industrial More details for he thought might he help the and medical application. It is a abo e events please wait rescuer to get the boys out of terrific achievement and pays for the invitation-mail or get the cave. In the end, howev- testimony to Switzerland as it from www.swissthai.com, er, it was not needed. It is an the most innovative and com- click on “events”. amazing story with a Holly- petitive economy in the world. wood-like happy ending; all the boys were saved, though Our sponsorship drive to fund MEMBER DETAIL one Thai Navy Seal, Sgt Saman the activities of the STCC 20th UPDATES Kunan, lost his life after run- anniversary in 2018 is a stellar ning out of oxygen in the cave. success and shows the commit- Do you have changes among your News of the evacuation echoed ment of our members to the delegates or changes to your around the world. Whilst I was STCC. A number of companies e-mail, mobile, telephone, travelling through different pledged their support and on or fax numbers? continents during this dra- behalf of the Board of Direc- matic period, in all the plac- tors, I would like to express our Please send all updates to es I visited one could see the gratitude to those who made [email protected] positive impact it had on peo- their pledges and to those who ple’s minds and hearts, even are still considering to join US President Trump called it “a the campaign. Our office will beautiful moment. It also pays let you know shortly about our 2 AUGUST 2018 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #97 THE PRESIDENT’S MESSAGE SERVICE special activities in the coming With my best wishes MEMBERSHIP months, and we are absolute- ly delighted about this level of FEES 2018 commitment from our members. The invoices for the year 2018 will Bruno G. Odermatt-Maag be sent out by e-mail during April. If you find time during your sum- President Kindly make sure that you approve mer holidays, a good read might the invoice and forward it for pay- be Jordan Peterson´s best sell- *** ment to your accounting and make ing book, “12 Rules of Life: An Contact the President: sure that THE PAYMENT SLIP COPY IS antidote to Chaos”. A professor Bruno G. Odermatt SENT TO of the University of Toronto and President STCC a clinical psychologist, his mind [email protected] [email protected] provoking arguments for the Tel: +66 2 652 1911 importance of order has made Thanks for your support. him the most significant con- servative thinker to appear in the English-speaking world in recent history. If personal at- tachments to attitudes such as tribe, heart, home, country are still important to you, then it might be well worth reading it. I wish you a happy Swiss Nation- al Day celebration and wherever we attend celebrations of the founding of the Swiss Confeder- ation, let us be grateful of the rich heritage we assumed from our forefathers of Switzerland. Adhesive & Sealant Technologies MS Hybrid Polymer best performing window, door and facade sealant. Southeast Asia Link Co., Ltd. www.seal-ast.com T: 0 2732 2092 3 AUGUST 2018 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #97 ECONOMY SPECIAL REPORT BY DEUTSCHE BANK ASIA ECONOMICS MONTHLY: STANDING FIRM AGAINST HEADWINDS Economic outlook: Data point to sustain robust EU27, which also rose at a faster pace of 13.2% GDP growth of 4.8% in 02. vs. 10.2% in the same period. In contrast, ex- ports to Japan rose at a slower pace of 13.5% in Main risks: The market may be underestimat- April/May, vs. 24.8% in 01, while those to the US ing the path of BoT policy rates, especially as also rose at a relatively modest pace of 6.3% vs. a weaker baht removes an important hurdle for 9% in the same period. rate hikes. ...while consumption and investment also Another quarter of strong growth strengthened... Thailand also enjoyed stronger growth in consumption and investment. The pri- Export growth accelerates... Exports rose vate consumption index rose 5.5% in April/May, 8.6%yoy in April/May, vs. 5.3% in 01, in volume accelerating from 2.9% in 01. We see continued terms. By destination, China led this expansion support for private consumption amid improve- in Thailand exports, surging 16.8% in April/May ment in employment. The latter rose 1 % in 02, vs 0.3% growth in 01, followed by exports to the more than reversing the 0.3% decline reported in 01. Better still, the private investment index rose at a faster pace of 3.9% in April/May vs. a 1.8% rise in 01, boding well for employment prospects ahead. Concerns about an all-out trade war have not yet filtered down to the Thai public or businesses. In fact, consumer confidence continued to trend 4 AUGUST 2018 | SWISS-THAI CHAMBER OF COMMERCE | E-NEWSLETTER #97 ECONOMY SPECIAL REPORT BY DEUTSCHE BANK better, with the index reaching its highest level since 03 2013 in 02. Meanwhile, business senti- ment remained positive in 02, albeit less optimistic than in 01. While high frequency demand data suggest that Thailand’s GDP growth remained robust in 02, at high-4%, moving more or less sideways from 01, destocking poses downside risk to this view. Recall that it added 3ppts to the headline GDP growth in 01. Note that the value-added produc- tion index rose at a slower pace of 3.2% in April/ May vs. 4.2% in 01, despite stronger demand at home and abroad. ... prompting the Bank of Thailand (BoT) to con- sider policy normalization.