What's new in business news: January 19, 2015

What's new in business news: January 19, 2015

13,000 tonnes of tapioca disappeared from warehouse, crowdfunding set to take off in Thailand & more Thai investors turn to online trading.

Workers load cassava in Nakhon Ratchasima. A DSI probe has revealed that 13,000 tonnes of tapioca pellets have disappeared from a warehouse. PRASIT TUNGPRASERT

AGRICULTURE

Tapioca disappeared from warehouses

Tapioca pledging has emerged as another failed scheme of the previous government, with losses estimated at 3.5 billion baht with losses mainly stemming from missing state tapioca stocks.  A recent probe by the Department of Special Investigation (DSI) revealed that 13,000 tonnes of tapioca pellets delivered by cassava farmers under the previous government's pledging policies have disappeared from a warehouse in Ayutthaya province.  Authorities have already filed 85 lawsuits against alleged offenders who include not only warehouse owners but also state officials

The warehouse, owned by Ruam Thun Pattana Rice Mill Ltd Partnership in Ayutthaya's Wang Noi district, was leased by Kasetphuetpol Intertrade Co to store sacks of pledged tapioca. Kasetphuetpol was granted a concession by the Public Warehouse Organisation (PWO) to take part in the government's tapioca-pledging scheme for the 2011-12 crop. The company rented the warehouse in Ayutthaya to store 13,000 tonnes of pledged tapioca. Upon examining the warehouse, DSI officials found it empty with no sign of the tapioca.

The previous government set aside 44 billion baht to subsidise cassava for the 2012-13 crop, but it spent just 27.83 billion baht to buy 10 million tonnes of cassava root during that season after the scheme drew a  lukewarm response from farmers and a drought threatened to cut production.  The state now controls about 490,000 tonnes of tapioca chips and 7,799 tonnes of tapioca flour in stocks accumulated between the 2008-09 and 2012-13 crop years. The stocks are kept in 90 warehouses nationwide.

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TECHNOLOGY

Crowdfunding set to take off in Thailand 

Thailand's new crowdfunding website, www.dreamaker.cf  (Dreamaker Crowdfunding), will offer an alternative fund-raising source for budding entrepreneurs by the end of this month. Crowdfunding is an alternative model for SMEs that cannot gain access to the conventional financial system and have limited access to venture capital.

People will be able to develop their projects, sharing them on the website in order to raise funds from supporters. Ventures in technology, design, food, publishing, movies, art and healthcare are being targeted. 4,500 Thais supported Kickstarter, the world's leading crowdsourcing website [See here and here], pledging US$1 million as part of Kickstarter's $1 billion pledge milestone in March 2014. Crowdfunding is not popular yet in Thailand and so far there are only a couple of sites, such as www.taejai.com and www.perdmuak.com
 
The website target is for each individual project to raise funds of at least 100,000 baht and a project posting to last for 30-60 days. Those who wish to support a project, pledge funds and when a project achieves its target figure, the payment will be charged to pledgers' credit cards. Supporters will receive rewards or other incentives such as limited edition gifts or products. The website will charge a fee of 5% of the total amount of funding for each project that achieves the targeted amount.

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STOCK MARKET

More investors turn to online trading

Online stock trading transactions have risen at a fast clip recently, representing 40% of total trading value, up from 27% last year, and over 60% of retail investor trading at the end of last year, thanks to more convenient trading with lower commissions using smartphones and tablets.
 
Brokers now charge commission fees of 0.15-0.2% of the transaction value for internet trading, while fees for traditional trades are charged at a negotiable rate. Normally, trading fees for retail investors through market officers start from 0.25%. As much as 60% of a typical security company's trading value stemms from their online service and the remaining 40% from traditional trade.
 
In the future, security market professionals will need to develop new skills such as the ability to offer advice on other investments such as mutual funds and insurance to offset the falling income from commission fees.

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Vocabulary

  • access: having the opportunity to have or use something - มีโอกาสในการใช้
  • accumulate: to get more and more of something over a period of time - เก็บสะสม, สะสม, สั่งสมมานาน
  • achieve: to succeed in doing something very good or difficult - บรรลุผลสำเร็จ
  • advice: an opinion or a suggestion about what somebody should do in a particular situation - คำแนะนำ
  • alleged: claimed to be true although not yet proven; claimed to have done something wrong but not yet proven - ที่ถูกกล่าวหา
  • alternative: another choice - ทางเลือก, ตัวเลือก
  • authority (noun): a person or government agency who has the power to make decisions or enforce the law - เจ้าหน้าที่ผู้มีอำนาจ
  • broker: a person or company who arranges something such as a deal, agreement, a job, etc. - นายหน้า
  • budding (adj.): beginning to develop or become successful - การผลิดอก, แตกใบ, เริ่มผลิ
  • cassava: a tropical plant with roots that can be cooked and eaten or made into flour - มันสำปะหลัง
  • charge (noun): a payment or fee for something - ค่า
  • chip: to break small pieces of something - แตกออกเป็นชิ้นเล็กๆ
  • commission: an amount of money that is paid to somebody for selling goods and which increases with the amount of goods that are sold - ค่านายหน้า, ค่าคอมมิชชั่น
  • concession: a right that is given to a person or group to do a particular activity - สัมปทาน
  • convenient: easy to use or suitable for a particular purpose - สะดวก
  • conventional: usual or normal - ธรรมดา
  • couple: two things or people - สอง, สองสิ่ง, คนสองคน
  • crop: a plant grown for food, usually on a farm - พืชผล
  • crowdfunding (noun): a way of getting money for a project or business plan by raising contributions from a large number of people, typically through the internet -
  • deliver: to take goods, letters, etc. to the people they have been sent to - ส่ง
  • develop: to think of or produce a new idea, product, etc. and make it successful; to build new houses, factories, etc. on an area of land, especially land that was not being used effectively before - พัฒนา
  • disappear: to move something or someone somewhere where they can no longer be seen - หายไป, สาบสูญ, สูญหาย
  • drought (noun): a long period of time when there is little or no rain - ฝนแล้ง, ภัยแล้ง, ความแห้งแล้ง)
  • emerge: to appear or to become recognised - โผล่ออกมา
  • entrepreneur: someone who starts their own business, especially when this involves risks - นักลงทุนทางการเงิน
  • estimated: thought to be a particular amount, size, etc. based on a guess or the best information available - ประมาณการ
  • fee: an amount of money that you pay to be allowed to do something - ค่าธรรมเนียม
  • figure: a number representing a particular amount, especially one given in official information - ตัวเลข, จำนวนเลข
  • financial system: the system that allows the transfer of money, e.g., between savers (and investors) and borrowers - ระบบการเงิน
  • fund-raising: to collect money for an organisation or person - การระดมทุน
  • gain access: to get the opportunity or right to have or use something - ได้โอกาสในการใช้
  • grant: to officially give something - ให้
  • incentive: something that makes you want to do something or work harder, because you know that you will benefit by doing this - สิ่งกระตุ้น
  • income: money that someone gets from working or from investing money - รายได้
  • insurance: an arrangement in which you regularly pay an insurance company an amount of money so that they will give you money if something you own is damaged, lost, or stolen, or if you die or are ill or injured - การประกัน
  • lawsuit: a case that a court is asked to decide involving a disagreement between two people or groups - คดีที่ยื่นฟ้องต่อศาล
  • lead (verb): to be out in front, to be winning a competition, to be in first place - นำ
  • lease: a legal agreement in which you pay money in order to use a building, piece of land, vehicle, etc. for a period of time - สัญญาเช่า
  • limited: not much or enough; not very great in amount or extent - จำกัด
  • limited edition: when only a small amount of a special product is produced and offered for sale -
  • lukewarm: (1) not interested in or enthusiastic about something - ไม่เต็มใจ,มีความกระตือรือร้นเล็กน้อยor (2) slightly warm. อุ่น, อุ่นพอควร
  • market officers: stock brokers; the trained professionals who help customers with buying and selling stocks and choosing investments -
  • milestone: an event or achievement that marks an important stage in a process - เหตุการณ์สำคัญ (ที่ควรบันทึกไว้)
  • missing: not present, but not known to have been harmed or killed - หายไป, สูญหาย
  • model: a person or thing that is considered an excellent example of something - แบบอย่าง, บุคคลตัวอย่าง
  • mutual fund (noun): an investment fund that invests in a wife range of stocks and bonds, etc, the fund is divided into small units that are bought and sold, usually by people who invest only a small amount of money, in the UK called a "unit trust" -
  • nationwide: throughout a whole country - ทั่วทั้งประเทศ
  • negotiable: agreement about something can be reached after discussion เจรจาต่อรอง -
  • normally: as usual; properly - ตามปกติ
  • offender: a person who is guilty of a crime - ผู้กระทำความผิด
  • officials: people who have the power to make decisions or enforce the law - เจ้าหน้าที่ผู้มีอำนาจ
  • offset: to balance the effect of something, with the result that there is no advantage or disadvantage - ชดเชย
  • partnership (noun): when a company owns and runs a business and shares profits, etc or with another company - หุ้นส่วน, ความร่วมมือ, ห้างหุ้นส่วน, ห้างหุ้นส่วนจำกัด
  • pellet: a small piece of something, a small hard ball of any substance, often of soft material that has become hard - เม็ดเล็ก
  • pledge: to give something valuable to someone as a way of promising that you will pay them money later - จำนำ
  • policy (noun): a set of plans or action agreed on by a government, political party, business, or other group - นโยบาย
  • popular (adj): a situation in which someone or something is liked by many people - เป็นที่นิยม, เป็นที่ชื่นชอบ
  • probe: an attempt to find out the truth about an issue, problem or accident, made by an official group (or by the media); an investigation - การตรวจสอบ  การสอบสวน
  • production: the process of growing or making food, goods or materials, especially large quantities - การผลิต
  • professional: a person who does a job that needs special training and a high level of education - ผู้เชี่ยวชาญในวิชาชีพ,ผู้มีวิชาชีพ
  • province: one of many divisions of the government of a country into smaller parts - จังหวัด
  • publish: to make something available to the public through books, magazines, the Internet, etc. - เผยแพร่, จัดพิมพ์
  • raise funds: to get money for a project or business -
  • rate: an amount of money that is paid or charged - ราคา, อัตรา
  • recent: happening or starting a short time ago - เร็วๆ นี้
  • represent: to be an example or expression of something - แสดงให้เห็น, เป็นเครื่องหมายของ
  • response: a reaction to something that has happened or been said - การตอบสนอง
  • retail investor (noun): an individual who make investments rather than a companies or organisation -
  • reveal: to show or let something become known - เปิดเผย
  • reward: something given in exchange for good behaviour or good work, etc - รางวัล
  • sack: a large strong bag for storing and carrying things - กระสอบ, ถุงขนาดใหญ่
  • scheme: a plan that is developed by a government or large organisation in order to provide a particular service for people - แผนการ โครงการ
  • season (noun): a period of time during the year - ฤดูกาล, ช่วงเวลา, ระยะเวลา
  • security (noun): financial assets such as stock shares or bonds - หลักทรัพย์, พันธบัตร, หุ้น, หลักทรัพย์ค้ำประกัน
  • sign: a piece of evidence that something is happening or that something exists - ร่องรอย
  • skill: the ability to do something well, usually as a result of experience and training - ฝีมือ, ทักษะ
  • source: the place or person or something comes from or starts at, or the cause of something - ต้นกำเนิด, แหล่งกำเนิด
  • state: government - รัฐบาล
  • stem from: to be caused by - เกิดจาก
  • stock: an amount of something that you keep so that you can use it when you need it - ที่เก็บไว้ในสต๊อก
  • subsidise: to pay part of the costs of something - ให้ความช่วยเหลือด้านการเงิน
  • supporter (noun): a person who helps and supports a person, organization or idea - ผู้สนับสนุน
  • tapioca (cassava): a tropical plant with roots that can be cooked and eaten or made into flour - มันสำปะหลัง
  • target: a particular number or amount that you want to achieve - เป้าหมาย
  • target: something you want to achieve; a particular number or amount that you want to achieve - เป้าหมาย
  • threatened: at risk; in danger - ตกอยู่ในความเสี่ยง
  • trade: the buying and selling of goods and services - การค้าขาย
  • traditional (adj): of a custom, a way of life or a way of doing things that has not changed for a long time - เป็นประเพณี, ตามธรรมเนียม, ตามที่ปฏิบัติกันมา
  • transaction: the action or process of buying or selling something - การค้า
  • typical: happening in the usual way; showing what something is usually like - ตามแบบฉบับ, ตามปกติ
  • value: how much something is worth in money or other goods for which it can be exchanged - มูลค่า
  • venture: a new activity, usually in business, which involves risk or uncertainty - ธุริกิจเสี่ยงแต่สามารถทำกำไรได้
  • warehouse: a large building for storing things - โกดังสินค้า, คลังสินค้า, โรงพัสดุ
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