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Phuket Business: Bad investments – a fiscal toy story

Legacy Phuket Gazette

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Phuket Business: Bad investments – a fiscal toy story | The Thaiger

PHUKET: I often write about things which I think may or may not be worth considering as an investment. Today I would like to try and get my readers to understand some things which generally are considered as bad investments.

Professionals in my industry usually will vary greatly on their opinions of what is a good investment at any one point in time, but one area in where there is a lot of agreement is in things which generally should not be considered as an investment.

I am not saying you should not buy any of these following things, but just understand the difference between a toy and investment and what percentage your wealth is appropriate for each. One mistake I commonly see is people putting way too much of their net worth into a toy and justifying it to themselves as an “investment”.

This is especially true for cars, and even more so in a country such as Thailand, where they are taxed to the moon and a rip off in my opinion. I am not saying you should not have a safe and reliable vehicle to get you, say from Chalong to Phuket Town, but simply that your budget should not be stretched because back in America you drove a BMW and feel like you would be taking a step backwards in life by driving anything less.

Unless your income has tripled in line with the increase in stock prices in this country compared with back home, keep your car budget in line with your finances and not your preferred brand.

Don’t kid yourself that you are making an investment by buying a high end vehicle, even though they depreciate slower here than back home, an investment is something which should appreciate.

A Honda Jazz will get you around just fine, anything above this is a luxury which is cutting into your investment budget unless your wealth is such that the difference in sticker price for upgrading to a Benz doesn’t make you blink.

Generally speaking I think most people overspend on cars and trade in for new vehicles far too often to try and keep up with the infamous Jones family.

Boats are second on my list of wastes of money. Don’t get me wrong, I love them, and in fact plan to move my whole family onto a sailboat at some point in the future as long as I can figure out how to get over my wife’s fear of suntans.

Unless you are a serious water lover and plan to spend day after day on your boat, it is much cheaper to rent them. If you have money to burn go ahead and buy one, but there is a reason they call a boat a “hole in the ocean that you pour money into”.

These are just two common toys which often soak up a disproportionate share of people’s wealth, but the list can include planes, toy figurines and other collectibles, and even sometimes properties (if they are a second property that is not appreciating and is a drain on resources due to maintenance costs).

The main distinction between a toy and an investment is pretty simple. Does it appreciate or depreciate? Does it generate income or require costly continuous maintenance?

If you plow the bulk of your free cash into investments and are sparing in your purchase of toys, you can make sure your wealth is around to take care of you in the event you should live to be 102.

David Mayes MBA lives in Phuket and provides wealth managements services to expatriates around the globe, specializing in UK pension transfers. He can be reached at 085-335-8573 or by email at david.m@faramond.com.

— David Mayes



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Central’s new Suvarnabhumi lifestyle centre set to open late August

Kritsada Mueanhawong

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Central’s new Suvarnabhumi lifestyle centre set to open late August | The Thaiger

PHOTO: Central Pattana

Central Village, a new luxury retail outlet situated near Suvarnabhumi International Airport, is 70% finished. Wallaya Chirathivat, deputy chief executive of Central Pattana, says the new lifestyle shopping precinct is scheduled to open on August 31.

Central says that retail space in Phase 2 have now opened after Phase 1 of the retail development was totally booked. They report 65 brands have already booked their space in the new development.

Central says the new space is designed with a primary target audience of 25-40 with a monthly income exceeding 50,000 baht.

Ms Wallaya said in the Bangkok Post… “We aim to attract over 10 million Thai and foreign shoppers in the first year. World-renowned tourist destinations such as Britain, Japan and Hong Kong have their favourite outlets for tourists, and soon Thailand will be proud of Central Village. It will become a must-visit shopping destination to complete your trip.”

Central Pattana also have a new Central concept store rising out of the ground in Cherng Talay, Phuket, between the Cherng Talay police station and Boat Avenue, on the east side of the road. It will be called Central Porto de Phuket.

Central's new Suvarnabhumi lifestyle centre set to open late August | News by The Thaiger

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Phuket expat re-invents the way sewing machines work

Kritsada Mueanhawong

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Phuket expat re-invents the way sewing machines work | The Thaiger

British inventor creates a new sewing system that eliminates the bobbin.

When you list the worlds top inventions the sewing machine is rarely included, it’s lucky if it makes it into the top 50!

But there are very few moments in our daily life when we are not close to something that’s been produced using a sewing machine.

Now a recent patent, developed by a Phuket expat, is set to bring the sewing machine back into the forefront. Templeton Hancock, a British sewing machine mechanic and former sewing machine demonstrator living in Rawai, has created a new Everlasting Bobbin Sewing (EBS) System that eliminates the need for constantly changing thread bobbins.

A bobbin is a spindle or cylinder, with or without flanges, on which wire, yarn, thread or film is wound. Bobbins are typically found in sewing machines, cameras, and within electronic equipment. In non-electrical applications the bobbin is used for tidy storage without tangles – Wikipedia

“The inception to create the EBS System came to me after a conversation I had with a customer who voiced her frustration with having to continually change the bobbin.  It made me question why no one had come up with a satisfactory solution to discard it.”

“The EBS System offers huge benefits not just to manufactures but to everyone who regularly uses a sewing machine; it saves time, improves the quality and finish of garments, reduces waste and make the sewing machine more user-friendly and lessens the impact on the environment.”

The first patented sewing machine was in 1790 to an Englishman, Thomas Saint. Over the next 60 years, the machine was modified and improved to something that is still mechanically recognisable in comparison to today’s machines.

Since the 1980’s there have been significant electronic advancements to the sewing machine, but the need for a refillable bobbin has always harkened back to its introduction in 1853.  Over the years, there have been many who have tried to solve this bobbin dilemma. The simple EBS System provides the solution.

Phuket expat re-invents the way sewing machines work | News by The Thaiger

So, how does it work?

With current technology, the needle and upper thread pass down into the machine bed.  As the needle draws back up, the upper thread is left behind, just slightly, but it is enough that a loop is formed.  Machines are timed so that a rotating hook underneath the machine, spinning off a centrally placed drive shaft, can catch this loop and pass it over the bobbin and bobbin case to create a locking stitch.

The EBS System is different.  The drive shaft is moved to one side and the hook is placed within a bearing which has drive teeth on its circumference. A void is now created within the bearing which allows for a thread feed tube to supply endless amounts of thread to freely pass without interruption from the rotating hook, eliminating the need for a bobbin.

The bobbin holds, on average for #40 weight thread, around 34.3m of thread.  In manufacturing this can equate to the bobbin running out on average, every 9-11 minutes. Methods of turn around to get the machine operational again can vary from 22 seconds to 3 minutes, cutting into the amount of hourly units produced and also increasing wastage/seconds garments for the item in production when the thread ran out. 

Analysis of Operation in manufacturing puts aside an average 20% of Standard Allocated Hours (SAH) for changing the bobbin, adjustments and staff rest breaks. By removing the need to refill the bobbin and using the EBS System, manufacturing can be increased by as much as 19%.

Realising the problem with the bobbin, many manufacturers have opted for using a chain stitch instead of a locking thread for seaming. The downside being that the chain stitch uses more thread, creates a bulkier seam and is not as strong as the lock stitch. 

By using the EBS System instead of a chain stitch, a factory making jeans (for example) could save an average of 8.9m of thread per unit produced (depending on method of manufacture), and at the same time produce a better quality garment with stronger and less bulky seams.  8.9 metres multiplied by the amount of units produced each day, week and month, equates to being considerable saving even before you add back in the garments that would usually be discarded as wastage/seconds which have now been mostly eliminated.

The EBS System is not just limited to clothing. Footwear, upholstery, luggage and automotive manufacturers are also to benefit from the lack of a bobbin.  When the bobbin thread runs out, holes have been made in the material and it takes a short time before the machine operator notices.

The precision of the fit and strength of the material has been compromised and a labour intensive task now begins to reinforce the stitch and try to match the holes already created in the material. 

A continuous stream of thread will reduce the amount of wastage of leather and vinyl products in the pursuit of perfection that is expected and demanded by consumers.

The EBS System is not just for industrial use.

The simplicity of the design makes it versatile to be used in the domestic market. The EBS System is a relief to home sewing enthusiasts whose interests are within home decor and quilting. No more will they suffer the frustration when the thread runs out in the middle of a project. 

The versatility of the EBS System is that it can also be used with the current refillable bobbin for those small repairs and quick fixes that would require a variety of short lengths of different coloured thread.

The EBS System also looks to the future. A.I. and automation is making advances into the sewing industry, but these machines still need to be carefully monitored as they still rely on the need for a refillable bobbin.  Using the EBS System machines will enable manufactures to run for 24 hours with very little supervision, with an endless flow of lower lockstitch thread.

US Patent #10156034  PCT#IB2019/050843

For further information contact Templeton Dean Hancock… templeton_dean@hotmail.com

Phuket expat re-invents the way sewing machines work | News by The ThaigerTempleton Hancock, Phuket-based seining machine mechanic and inventor

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Thailand cuts rubber exports in a four month moratorium

Kritsada Mueanhawong

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Thailand cuts rubber exports in a four month moratorium | The Thaiger

Thailand is cutting rubber exports by 126,000 tonnes next week for a four month moratorium. This is a delay in implementing the supply cut agreement with two other regional producers, according to the Rubber Authority of Thailand.

Originally it was agreed that Thailand, Malaysia and Indonesia would cut exports back on April 1, a date agreed by the International Tripartite Rubber Council. Those three countries account for about 70% of the globe’s natural rubber production and made the decision to cutback exports by a total of 240,000 metric tonnes to prop-off the dwindling prices.

Reuters reports that the world’s biggest rubber exporter, Thailand, delayed the measure because of the March 24 election, and will now cut exports between May 20 and Sept 19.

“Thailand will proceed as agreed by the three countries, and will assess results every month,” according to the acting governor of the authority, Yium Tavarolit.

“If prices don’t move, then we have to review the measure.” he told Reuters.

Besides curbing exports, the ITRC is aiming to significantly increase domestic demand and use of rubber in the three countries through developments like rubberised roads.

Rubberised asphalt concrete (RAC), also known as asphalt rubber or just rubberised asphalt, is noise reducing pavement material that consists of regular asphalt concrete mixed with crumb rubber made from recycled tires. … Since then it has garnered interest for its ability to reduce road noise – Wikipedia

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