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Source: Bangkok Post
The company responsible for the beleaguered Thailand Elite Card, a scheme offering privileges to foreign visitors, confirmed that its current cardholders could continue to enjoy their privileges despite the planned shift of the company’s ownership.
Methavee Tunwattanapong, acting managing director of Thailand Privilege Card Co (TPC), said it had circulated a notification to its 2,569 members to clarify that their privileges were not suspended because the cabinet had only approved a change in the company’s management while maintaining privileges.
Thailand Elite, touted as the world’s first country privilege membership card, was launched by the Thaksin Shinawatra government in 2003.
The cards, priced at 1-2 million baht in the past and at 1.5 million baht each today, offer fast-track immigration, discounts at luxury resorts, spas and and golf courses, and many other perks aimed at increasing tourism revenue.
But after six years, the members total 2,570, and TPC, set up by the Tourism Authority of Thailand to run the scheme, has accumulated losses of 1.4 billion baht due to high payroll and management costs and also alleged abuse of privileges by executives.
The company is waiting for facts from the Interior Ministry and the Immigration Bureau to examine whether 795 of its cardholders are residing in Thailand, as the membership terms allow only visiting foreigners to enjoy the benefits.
A source said 63 cardholders were violating the membership terms because they resided in Thailand and held Thai passports, or both Thai and foreign passports.
Disqualified members would be contacted individually because the company is concerned about the impact on the country’s image and is trying to avoid legal disputes.
Ms Methavee said interest from private firms in acquiring the company would depend on the auction’s terms of reference, which are to be drafted by the National Economic and Social Development Board and the Finance Ministry.
However, the cabinet needs to consider how to handle the immigration privileges of visa issuing and fast-track immigration when ownership shifts to the private sector.
As of Nov 12, TPC had 304 million baht in cash in hand. It has monthly costs of about 5 million baht to pay for the use of limousines, golf courses and spas by its members.
Since July of this year, its sales and administration expenses have been about 10-12 million baht a month, a drop of 50% from last year.
The Elite Card recorded 1,800 members entering and departing Thailand during 2007-08 and 1,600 members during the first 10 months of this year.
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