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Legal Action Against SP Financing Company Underway

By
Laotian Times
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Row of cars
Row of cars

Authorities have advised those who have previously purchased  vehicles from the  SP Sipathoumphone company to officially  declare their losses and file a case against the enterprise.

The Office of the Public Security Department in Vientiane province has issued an announcement advising former customers of the company to declare their losses and press charges by the end of October so that police can proceed with the next step.

The SP Sipathoumphone company has been operating as a financing agency since 2015. The company’s business model receives cars from other companies and sells them, however those companies have failed to see any payments.

Head of Office at the Public Security Department, Lieutenant Colonel Daenphet Phomahalath, said the first branch of SP Sipathoumphone is located in Phonsineua village, Phonhong district, Vientiane province, and the second is located in Thongnami village, Pakkading district, Borikhamxay province.

Authorities currently have the SP company owner, Mr Bounmy (Somphone Sipathoumphone) and his associate, Mr Thonglai in custody and are both now awaiting trial.

Over 60 cases have been reported to police, with each complaint claiming money was lost through transactions, totaling almost US$4 million, over 800,000 Thai baht, and 92,700 million kip.

The police has urged  people who have lost money to promptly bring evidence of their deficit to the Office of the Public Security Department in Vientiane province, specifically to the Economic Affairs division.   

Although unrelated, this scandal comes shortly after PS-Agriculture and Industry Development Import and Export Co., Ltd., a company that was discovered to have been illegally sourcing money from members of the public along the lines of a financial institution.

Miss Grand Laos Showcases That Luang as National Costume

By
Laotian Times
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The time has come for Laos to send its first crowned Miss Grand Laos to Vietnam to compete for the International title.

In a year of firsts, Laos has not only crowned its first Miss Universe Laos, but in July crowned the first Miss Grand Laos, and is sending her to compete against 80 other countries for the Miss Grand International title.

Ms Chinnaly Norasing, an 18-year old student who graduated from Kiettisack International School this year, is the first contestant from Laos to win this title and will be representing her home country in the world competition, Miss Grand International 2017 hosted in Vietnam on October, 5th.

Ms Norasing has won 1st place in the 7th Lao National Asean Quiz 2016, an English competition aimed to evoke the spirit of healthy competition amongst the ten ASEAN countries through geography, history and economic cooperation.

Themed ‘Ending War and Violence’, the pageant will commence on October 5th with the final show scheduled to conclude on October 25th.

Quang Binh has been selected as the location for the national costume competition, where Miss Norasing will officially debut her national costume for Miss Grand International 2017.

Her national costume was inspired by the famous Pha That Luang, or the Great Golden Stupa, in Vientiane Capital. The design of the costume is a uniquely stunning feature, embodying the spirit of the Lao people and their virtues. The accents and embellishments featured on this costume present Laos’ cultures, traditions and identity.

Please follow the Miss Grand International’s for broadcasting information.

Photo Courtesy: Miss Grand International FB Page

Oct 4-6 Official Boat Racing Festival Dates

By
Laotian Times
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Following an announcement made by the Governor of Chanthabouly district, Mrs. Bouarone Vongdarasan, the annual Boat Racing Festival will officially take place Oct 4-6 at Chao Anouvong Park.

Traditionally, the festival is held every year at Tha Vat Chanh, Chanthaboury district, where boats representing public organizations, private sector, business community and communities compete for victories and prizes.

With the festival drawing massive crowds of guests, participants and vendors from Vientiane Capital and provinces all across the country, the aim of the event is to promote and preserve the culture of the Lao people.

Many vendors travel long distances to sell popular traditional street foods such as khao lam, ping kai and tam mak houng. 

Almsgiving will be made by buddhist worshippers at 7:00am on October, 5 followed by a traditional candle lit procession held at temples nationwide after sunset. In the evening, people release small banana trunk boats lit with candles down the river for good luck, also referred to as lai heua fai.

Oct. 6 the boat racing festivities will conclude, followed by the winners being announced and trophies awarded in the late afternoon.

Roadsides near the boat racing venue and vacant land, along with footpaths, are designated paid parking spaces. Standard parking fees vary, typically starting at 3,000 kip per bicycle, 5,000 kip per motorcycle and 15,000 kip for cars.

Local authorities have stressed that maintaining peace and order during the celebration of the festival is a high priority.

Tax Collectors to Audit 200 Businesses to Boost Revenue

By
Laotian Times
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In an attempt to collect additional taxes before the end of the year, the Deputy Minister of Finance has announced that finance authorities are planning to audit more than 200 major companies that have been under the management mandate of central-level state bodies and Vientiane authorities.

The deputy minister, Dr Atsaphangthong Siphandone, informed members of the National Assembly (NA) at a meeting in Vientiane, that the inspections are being facilitated by six teams of finance authorities that began auditing enterprises the beginning of September and are still underway.

The objective of these audits is to ensure that companies have paid the correct amount of taxes based on their actual income, and have strictly complied with financial regulations.

The controversy is that many businesses pay taxes based on reports amassed by their own staff, which are then assessed by tax officials. NA members have previously expressed concerns that this practice had lead to loopholes for revenue leaks, as businesses are unlikely to report their true income so they can minimize the tax levied.

The maneuver is among measures initiated by the government in an effort to boost revenue collection over the last six months of this year.

The inspections are also intended to maximize revenue collection, as the government has struggled to collect revenue in line with the target for 2017.

Dr Atsaphangthong  has projected that revenue collection for 2017 was expected to reach 23,489 billion kip, accounting for 98.1 percent of the amount targeted.

During the first six months of 2017, over 10,365 billion kip was collected, accounting for just 43.29 percent of the year’s plan. Measures are being implemented to collect the remaining  13,124 billion kip before the end of the year.

In addition to the inspection of the 200 businesses, Dr Atsaphangthong emphasized that authorities will place great importance on properly collecting taxes and tariffs from major sources or products such as petrol, vehicles, construction materials and electrical equipment, as well as consumer and durable goods.

Attention would also be focused on collecting taxes and fees from small and medium enterprises as well as hydropower and mining projects.

Officials would intensify efforts to collect revenue sourced from leasing fees of state assets as well as concession fees.

China Southern Airlines Offers Vientiane-Guangzhou Flight

By
Laotian Times
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As of September 27, China Southern Airlines is offering Vientiane passengers a direct flight to and from Guangzhou three times a week.

The world’s fourth largest airline will transport passengers on Wednesdays, Fridays and Sundays via A320 airbus. It will depart Guangzhou at 16:30 hours and arrive in Vientiane at 18:10 hours, and leave Vientiane at 19:10 hours and land in Guangzhou at 22:25 hours.

The launch of the new air route establishes a key effort under the One Belt One Road strategy, encouraging  cultural exchanges, as well as trade and investment between the two countries.

Airline passengers traveling between Vientiane and Guangzhou can expect to experience prompt and convenient service coming from this launch, as passengers transiting through Guangzhou no longer have to  re check-in their luggage when traveling to other international destinations such as Europe, America, Japan or Republic of Korea.

Ranking the largest airline in Asia, China Southern Airlines has a fleet consisting of more than 700 airplanes.

Before the launch, Lao Airlines was the only other airline offering a direct flight in between the two cities.

Germany Grants 5.6 Million Euros to Pave Rural Lao Roads

By
Laotian Times
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A grant of EUR 5.6 million has been provided to Laos by the German government towards paving rural roads in Laos.

During a meeting with German government officials and Laos’ Ministry of Finance and Ministry of Public Works and Transport earlier this week, the Rural Development Programme was officially launched.

The grant will be utilized for the first phase of the programme, building continuity with its predecessor, the sixth phase of the Rural Infrastructure Project.

In an attempt to help generate income and improve socio-economic living conditions, Germany is aiding rural development in Laos by rehabilitating roads that connect rural and remote villages.

With the total cost of the Rural Development Programme estimated at EUR 6.3 million, the German government is contributing UR 5.6 million to the cause, while the Lao government is covering the remaining EUR 700,000.

During the first phase of the programme, which is set to run from 2017-2020, the German government will finance the climate-resilient rehabilitation and improvement of approximately 60km of rural roads and associated bridges in Nong and Xepon districts, Savannakhet province.

In addition, the project will provide training for capacity building at national and local implementation levels, with a focus on climate change related adaptation and maintenance management.

The financing parties will also provide continued selected support to the Public Works and Transport Training Institute.

The purpose of the project is to build sustainable climate-resilient rural roads and other infrastructure as well as improving the maintenance of roads.

Local staff will be trained to complete tasks to build capacity within national structures as well as ensuring proper road maintenance management.

Kfw Country Director, Mr Lorenz Gessner has stated that the project will improve living conditions of the rural population in the project region.

A total of EUR 56 million was invested during the previous phases of the Rural Infrastructure Project, with EUR 50 million financed by the German government through KfW, and EUR 6 million contributed by the Lao government.

This amount was used to construct and rehabilitate over 800 km of rural roads, as well as more than 20 bridges and 12 regional markets in seven provinces.

 

 

 

Super Malaria Emerges as a Global Threat

By
Laotian Times
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Dengue Fever Laos

A new form of malaria outbreak has spread rapidly across Southeast Asian countries, alarming doctors and scientists alike. Referred to as “super malaria”, medical professionals are warning that this particular form of  malaria parasite is immune to the typical anti-malaria drug and has become a global threat.

An estimated 212 million people are infected with malaria each year. With children being particularly vulnerable to the disease, super malaria is caused by parasites transmitted to people through the bites of infected female mosquitoes.

The strain was initially detected in Cambodia in 2007, then rapidly spread to Thailand, Laos, Myanmar and eventually reaching Southern Vietnam.

Analysts at the Mahidol-Oxford Tropical Medicine Research Unit in Bangkok believes that malaria has a real potential of eventually becoming untreatable.

Head of the malaria unit, Prof Arjen Dondorp has stated, “We think it is a serious threat. It is alarming that this strain is spreading so quickly through the whole region and we fear it can spread further [and eventually] jump to Africa.”

Though the number of cases in Southeast Asia are still limited, specialists are concerned about the emergence of  super malaria. Back in the 1950s and 60s, two surges of malaria outbreaks, which were also resistant to standard treatments, appeared in Southeast Asia and swept across India and Africa, causing millions of deaths.

Typically, the first choice treatment for malaria is artemisinin in combination with piperaquine. However, as artemisinin has become less effective, the parasite has now evolved to resist piperaquine as well.

Prof Dondorp has said that the treatment fails a third of the time in Vietnam, while in some regions of Cambodia the failure rate is closer to 60%. Resistance to the drugs would be catastrophic in Africa, where 92% of all malaria cases happen.

There is a push to eliminate malaria in the Greater Mekong sub-region before it is too late, Prof Dondorp added, “It’s a race against the clock – we have to eliminate it before malaria becomes untreatable again and we see a lot of deaths.”

Mr Michael Chew, from the Wellcome Trust medical research charity has stated, “The spread of this malaria ‘superbug’ strain, resistant to the most effective drug we have, is alarming and has major implications for public health globally. Around 700,000 people a year die from drug-resistant infections, including malaria.”

Mr Chew added that if nothing is done, the death toll could be in the millions annually by 2050.

According to the World Health Organization (WHO), there were over 210 million cases of malaria in 2015, resulting in 429,000 deaths.

PS Lao Enterprise Debacle Far From Over

By
Laotian Times
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With PS Lao Enterprise’s executive board members still in police custody, authorities have instructed shareholders to declare their losses and file an official case against the company.

As previously reported by The Laotian Times, police detained the company’s executives on September 12, after a heated argument erupted between the company’s executives and approximately 2,000 shareholders who were demanding their deposits back.

The Police General Staff Department of the Ministry of Public Security has advised all investors of the company to declare their losses and file all charges by the end of November, so that authorities can proceed to the next stage.

The department has instructed those who have shares in the company, to promptly bring forward evidence of their losses to officers at the department in charge of economic affairs.

Depositors who have lost money are required to submit a statement, declare their losses and file a case by November 30. Authorities will then compile all the evidence and statements submitted, and file a case against PS Lao Enterprise with a court of law. Those living in outlying districts or the provinces can file a case with their local police department.

A police source has confirmed that the executive team, including the company’s President Ms Souknaly Thepsimeuang, remains in police custody, however has declined to give any further details.

After being taken into custody, the executive duo no longer holds any administrative control over the company.

Representatives of the depositors have taken control of the company under the supervision of a task force committee. The committee will supervise the company’s operations during this transition period, until a new executive board is established. This new management group is expected to be made up of depositors’ representatives.

Established in 2012, the private company known officially as PS-Agriculture and Industry Development Import and Export Co., Ltd., enticed depositors by offering a high interest rate, but stopped paying any interest some time ago.

The number of depositors in PS Lao Enterprise declined from 50,000 to 30,000 after approximately 20,000 people withdrew their money when news of the scandal broke.

Photo: KPL

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