The minister’s meeting was also attended by both his deputies, Mr. Boosong Teriyapirom and Mr. Virul Techapaibul, and received every warm welcome from officials of the ministry who flocked to congratulate them.

The meeting is conducted behind closed door and is scheduled to release details by 11.00 am. The minister’s next schedule is praying homage to spirits of the shrine of the ministry.

Two of the applicants are people from the SET. The other is an outsider Vibule Perm-arayavong, president and CEO of Siam City Securities Co., Ltd.

The emerging of Mr. Vibule has come as a surprise since it is the SET tradition to recruit top management from the insiders.

However, rumor has also surfaced that Finance Minister Korn Chatikavanij would invite a man from the central bank to join the recruit.

Before joining BAY, Mr. Arnold is a top executive at GE in Asia and Europe for more than 15 years. He has been widely accepted as acumen business man.

Before coming to the top helm at BAY, he was a CEO at GE Capital Banking for Southeast Asia cum director at the bank.

He is well accepted by all workers at BAY.

“Mr. Mark will take over the top job in business strategist from Mr. Tan Kong Kun,” Veeraphan Tivsuvarn, chairman of the bank commented.

“He has to utilize every chance and resource to drive a sustainable organization growth,” he said.

Mr. Arnold said he was so exciting to receiving the chance to direct the company policy. It is also the chance for him to direct the company and its staffs, its investors, towards wealthy.

The dinner was served by Lord Jims restaurant, which temporary ceased its all other services especially to host the event.

Held in ‘Earth, Wind, Water, Fire’ theme, the party was graced with the presence of Her Royal Highness Princess Siriwan Warinarirat and thousand of high-profile envoys to the Kingdom of Thailand.

Kurt gained a respective reputation through his visionary strategy in bringing the Mandarin Hotel into one of the world’s best hotel list and attracted score of accolades and awards from respected travel associations around the globe.

Kurt himself told the party he decided to come to Thailand in those younger years when he fell in love with a Thai wife Sukhuma Boonak back in the homeland of Switzerland.

For 41 years working with the hotel, Kurt never has a single sick leave, saying the friendly and happily working environment helps keeping him away from doctor.

Bellow is the hotel’s official press release:

Hong Kong, 3 March 2009 – Mandarin Oriental Hotel Group has announced that Kurt Wachtveitl will retire after 41 years as General Manager of Mandarin Oriental, Bangkok effective 31 May 2009.

During his long and illustrious career, Mr Wachtveitl has been instrumental in positioning Mandarin Oriental, Bangkok as one of the world’s best luxury hotels, which has regularly attracted accolades and awards from respected travel associations and publications worldwide. Mr Wachtveitl has also received recognition as one of the world’s best General Managers, including a Lifetime Achievement Award at the annual Hotel Investment Conference (HICAP) in 2006 and more recently, the 2008 Independent Hotelier of the World award from Hotels Magazine, USA.

“Throughout his career, Kurt Wachtveitl has been a pioneer in the hotel industry embracing new and exciting ideas that have kept this famous Bangkok property at the forefront of luxury hospitality throughout the world. On behalf of my fellow board members, we wish Kurt well in his retirement and thank him for his extraordinary contribution over the past 40 years,” commented Khun Nijaporn Charanachitta, Chairperson of the Board of Directors of OHTL Public Company Limited.

“For four decades, Khun Kurt, as he is affectionately known in Thailand, has been an integral part of the success of this legendary hotel and has played a significant role in the global recognition of Mandarin Oriental Hotel Group. He has shown tireless commitment and devotion to his guests and his colleagues, providing the best example of gracious hospitality in the global hotel industry. All of us at Mandarin Oriental salute this incredible lifetime achievement,” said Mr Edouard Ettedgui, Group Chief Executive of Mandarin Oriental Hotel Group.

Kurt Wachtveitl will be succeeded by Jan Goessing, a long term hotel industry veteran who has spent the past 14 years with Mandarin Oriental in senior management positions throughout Asia and The Americas, including the Group’s flagship hotel in Hong Kong. From 1998 to 2006, Mr Goessing was General Manager of the Group’s former property in Hawaii, Kahala Mandarin Oriental, during which time it became well established as one of the best urban resorts in the region, winning many important international accolades and awards. Since early 2006, he has been General Manager of Mandarin Oriental, Washington DC and has been instrumental in positioning the property as one of the city’s most luxurious hotels. During his tenure the hotel has been presented with numerous awards, including “Best Hotel in the World” from Institutional Investor in 2007 and “Top Hotels in the USA” in the 2008 Zagat survey.

About Mandarin Oriental Hotel Group
Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the world’s most prestigious hotels, resorts and residences. Mandarin Oriental now operates, or has under development, 41 hotels representing over 10,000 rooms in 25 countries, with 17 hotels in Asia, 14 in The Americas and 10 in Europe and North Africa. In addition, the Group operates, or has under development, 13 Residences at Mandarin Oriental, connected to the Group’s properties.

The news source said the appointment has been procrastinated for almost full five months and just re-begins after the formers ruling party Pheuthai agreed to step back and give way for the new ruling party Democrat to set up the firm’s management.

Mr. Piyasvasti is publicly known to have close tie with the Democrat party. He was installed as an energy minister by the military in a coup d’etat late in 2006 that deposed ex-prime minister and political fugitive Mr. Thanksin Shinnawatra.

Mr. Piyasvasti currently is working as top management at Thailand’s leading lender Kasikorn Bank.

He’s on and off an openly commentator on government’s energy policy.

The board of Thai Airways said Mr. Piyasavasti’s prominent experiences in energy and financial management makes him the most interesting candidate above rivals.

Board of Thai airways currently have eleven candidates on the list and the finalize process for the new chairman appointment has been extended to until June 22, 2009.

The group of five investors finally showed their interests and made a tender offer of 0.50 baht a share for a total 200 million shares, an undercut price to its currently trading on the Stock Exchange of Thailand.

“I do not view this as a takeover of company’s controlling rights,” Mr. Assavin said. “The investors are five people with no business relationship in common.”

“There is nothing to worry about the transferring of company’s controlling rights. Besides, I am 61 and I think it’s time to retire,” Mr. Assavin said in an interview.

Thai Industrial & Engineering Service is seeking capital raising after its bank announced ceasing of lending support.

The company began seeing insufficient liquidity in conjunction with the global sees consumption plunge in the credit market.

“We’ve offered new issuing shares to friends who have similar businesses, but everybody is in the same boat. They want to keep cash at hand. So, no one showed interest in a company with two consecutive year loss record,” Mr. Assavin commented.

The board of Thai Industrial & Engineering Service unanimously voted approval for the company’s capital raising to help resolved its liquidity problem.

Thai Industrial & Engineering Service hopes that it sees total revenues of 1.2-1.3 billion baht in 2009, or 10 percent growth from a year go, helped by new winning construction contracts of a hospital project and governmental projects.

The company aims to increase a gross profit to 6-7 percent from 2-3 percent for the same year through cost cuttings.

Grand Unity’s total sales last year was 650 million baht, reaching previously projection, from home and condominium projects sale in Vipavadee, Rama IV and Bangseu districts.

“We introduced three projects amid economic downturn last year, but acknowledged defiant sales of 90 percent, 50 percent and 70 percent at U-Sabai project in RamIV district, U-Delight project in Vipavadee district, and U-Delight At project in Bangseu Station district respectively,” Mr. Thanaphol said.

Grand Unity expects sales of 600 million baht this year from the Park View and U-Sabai projects in Vipavadee district alone.

The company hopes its sale reached 1.5 billion baht by the end of 2009 from sales of the U-Delight and more new opening projects.

Grand Unity Development Co., Ltd. is 60 percent owned by Grand Univenture Plc and has registered capital of 600 million baht.

Seven of its development projects such as Water Cliff and Grand Parkview in Asoke district worth 5.2 billion baht are entering a rescue program.