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Thailand’s Corruption Situation Index (CSI) last month reached its highest point in six years, while corruption has caused an average loss of 0.8 per cent of gross domestic product since military rule was established, according to the University of the Thai Chamber of Commerce’s Centre for Economic and Business Forecasting.
Thanawat Polvichai, the centre’s director, said December’s CSI reached 55, the highest in six years, reflecting a moderate level of corruption.
The UTCC claims signs of corruption began to ease in the latter half of 2014 after the military seized power in a coup and set up a junta-controlled government. Since then, annual losses attributed to corruption have averaged Bt120 billion or 0.8 per cent of GDP, he said.
Earlier, annual losses due to graft were about Bt300 billion to Bt400 billion, or 2.5 per cent of GDP, the centre claims. 
However, Thanawat warned the government and Thai society to keep watching for signs of corruption and more kickbacks from 2015.
In 2015, Thailand scored 38 out of a possible 100 points in Transparency International’s Corruption Perception Index (CPI), below the mean of 50, reflecting the country’s low corruption perception. 
The country came in 76th among 168 countries around the world in 2015, up from 85th among 175 countries in 2014. 
Late this month, TI will announce its latest global CPI rankings. 

LEICESTER CITY BOSS TO RECEIVE BUSINESS AWARD

Susan Whelan, the Irish CEO of Leicester City Football Club, winners of last year’s English Premier League, will receive the Outstanding Achievement in Business Award at the inaugural Asia Ireland Business Awards on January 26 at The Conrad Hotel in Bangkok.
The Asia Ireland Business Awards aim to celebrate and showcase the achievements of men and women with business links between Asia and Ireland who have achieved outstanding success and have contributed greatly to their industries.
Dublin-born Whelan has played a pivotal role in Leicester City’s success as last year’s winners of the Premier League. She was appointed to the Leicester City Board as the owner’s representative when King Power completed its takeover of the club in 2010, and in July 2011 she was appointed CEO.
The event’s guest speaker will be broadcaster and publishing entrepreneur Norah Casey. She was formerly a Dragon in the popular television series “Dragons’ Den” and is a well-known radio and television personality. Her book “Spark!” was published by Penguin in 2015 and her TedX talk “The Cure for Grief” has been watched by thousands. 
The Asia Ireland Business Awards promises to be a special gathering of influential Thai and Irish business leaders, diplomats and those with an avid interest in business and sport.

PROPERTY CONTACT EXPECTS TO SELL OUT HOUSING PROJECT

Real-estate developer Property Contact under the M Thai Group expects to sell out the first phase of its Vario Suvarnabhumi residential project on Sivali Road before the end of this year, executive director Veraphong Chutipat said yesterday.
As part of the first phase, the company is developing 60 units of a detached-housing project on a 20-rai (3.2-hectare) plot. The value of this first phase is Bt300 million. About half of the units are built, and the company expects to sell all 60 units this year after starting presales late last year.
Veraphong said the company would take a cautious investment stance this year given the unfavourable economic environment. It targets revenue of Bt300 million, up from Bt150 million last year.
He added that the M Thai Group, which has several businesses, held thousands of land plots in Thailand, mostly in Greater Bangkok.