2015 AMCHAM Trea­surer’s Re­port

On page 30 you will find the Cham­ber’s fi­nan­cial state­ments. The state­ments were pre­pared by KPMG with the fol­low­ing un­qual­i­fied opin­ion: “In our opin­ion the fi­nan­cial state­ments present fairly, in all ma­te­rial re­spects, the fi­nan­cial po­si­tion of the Amer

Thai-American Business (T-AB) Magazine - - Contents -


The Cham­ber’s fi­nan­cial re­sults were in line with ex­pec­ta­tions but show neg­a­tive trends re­lated to Thai­land- based mem­ber­ship.

Ex­penses were slightly below last year mainly due to a re­duced con­tri­bu­tion to the AMCHAM Thai­land Char­i­ta­ble Foun­da­tion ( Baht 5.5 mil­lion in 2014 vs. Baht 4.8 mil­lion in 2015).

The Cham­ber showed an over­all sur­plus of Baht 2.2 mil­lion. How­ever, 1.8 mil­lion of this is owed to the Myan­mar Chap­ter. 2014 showed a deficit of just over Baht 800K , how­ever, that was a re­sult of the con­scious de­ci­sion of the 2014 Board to do­nate to the AMCHAM Thai­land Char­i­ta­ble Foun­da­tion Baht 5.5 mil­lion, the same as in 2013, due to the Cham­ber’s healthy cash po­si­tion.


The Cham­ber’s Cor­po­rate Part­ner­ship pro­gram re­mains healthy and grew from 28 part­ners last year to 30 part­ners this year – an in­crease of Baht 500,000 ( Baht 9,890,00 to 10,390,000). Cor­po­rate Part­ner­ship rev­enue is al­lo­cated at the be­gin­ning of the year to the var­i­ous ac­tiv­i­ties of spon­sor­ship in­clud­ing: mem­ber­ship, pub­li­ca­tions, sports events, Gov­er­nors Ball, In­de­pen­dence Day pic­nic and web­site.

Over­all, rev­enue was up by ap­prox­i­mately Baht 2.7 mil­lion over 2014 to ap­prox­i­mately 35 mil­lion. How­ever, just about 5 mil­lion of this rev­enue can be at­trib­uted to mem­ber­ship and ac­tiv­i­ties in Lao PDR and Myan­mar ( Baht 300K. and Baht 4.7 mil­lion, re­spec­tively). In 2014, ap­prox­i­mately Baht 3.5 mil­lion was at­trib­uted to the Lao and Myan­mar chap­ters

Mem­ber­ship dues, en­trance as­so­ciate mem­ber fees:


As a whole, mem­ber­ship dues showed a healthy 10% in­crease from last year. How­ever, this growth can be fully at­trib­uted to the mem­ber­ship growth in Myan­mar and Lao PDR.

For Thai­land, mem­ber­ship rev­enue de­creased by ap­prox­i­mately 500K; this is the first time in 14 years that a de­crease in mem­ber­ship has oc­curred. Mem­ber­ship de­creased from 728 com­pa­nies in 2014 to 685 com­pa­nies in 2105. Myan­mar mem­ber­ship in­creased from 105 to 128 com­pa­nies in the same pe­riod and the Lao Chap­ter grew from 8 to 33 com­pa­nies. ( see below).

Sub­scrip­tions ments:





Sub­scrip­tions and ad­ver­tise­ments were up 13%. This is due to the strong Cor­po­rate Part­ner­ship pro­gram which sup­ports over 75% of the T- AB Mag­a­zine and Mem­ber­ship Direc­tory pro­mo­tions. There was also strong in­ter­est in elec­tronic di­rect mail ( eblasts) dur­ing 2015.

In­ter­est In­come was down about 20% due to de­clin­ing in­ter­est rates.

Other in­come in­cludes all Com­mit­tee meet­ings, pro­grams and spe­cial events, such as USA Fair. Other in­come was up just slightly in 2015. We did not hold a USA Fair in 2014. Ex­penses de­creased slightly from 2014 pri­mar­ily due to a re­duced con­tri­bu­tion to the AMCHAM Thai­land Char­i­ta­ble Foun­da­tion.


AMCHAM Thai­land Char­i­ta­ble Foun­da­tion Gifts:

Baht 1.4 mil­lion is at­trib­uted to AMCHAM so­cial events where pro­ceeds go di­rectly to the Foun­da­tion ( so­cial net­work­ing nights, sports events, I- day pic­nic) and a Baht 4.8 mil­lion do­na­tion made by the Cham­ber in late 2015. In 2014, the Cham­ber do­nated Baht 5.5 mil­lion to the Foun­da­tion and so­cial events pro­ceeds amounted to Baht 1.4 mil­lion.


En­ter­tain­ment and meet­ings: Up slightly due to an in­crease in num­ber of events and par­tic­i­pa­tion at events. ( Re­flected also in the in­creased ex­pense for coupon re­demp­tions).

Trans­porta­tion and Travel in­clude Myan­mar and Phuket travel ex­penses, APCAC- re­lated travel ex­penses and mis­cel- Dues and Sub­scrip­tions: In­cludes mem­ber­ship in Board of Trade, APCAC and U. S. Cham­ber of Com­merce. In 2015 APCAC ad­mit­ted the Myan­mar and Lao Chap­ters as as­so­ciate mem­bers re­sult­ing in an ad­di­tional Baht 18,000 ex­pense.

Other Ex­penses in­clude pro­mo­tional items ( flag pins, branded cups, tote bags, etc), bank charges, pro­vi­sion for bad debt and the travel stipend paid to in­terns ( Baht 300 per day). This amount was down in 2015.


The Cham­ber is in a very healthy cash po­si­tion with over Baht 40 mil­lion in cash. The only sig­nif­i­cant li­a­bil­ity is for long- term com­pen­sa­tion for staff which is be­ing ac­crued.


In­crease in Cur­rent As­sets is off­set by the de­crease in Non- Cur­rent As­sets as more cash was held in short term de­posits vs. long term due to low in­ter­est rate.

Ac­counts Re­ceiv­able: Baht 505,705 due from 2015 logo in­clu­sion, T- AB, Mem­ber­ship Direc­tory and no- show fees. It is ex­pected that the ma­jor­ity will be col­lected.


Un­earned In­come: In­cludes 2016 mem­ber­ship dues and Cor­po­rate Part­ner­ship pay­ments re­ceived in 2015.

to­tal amount of Baht 5.5 mil­lion ( 2014: 51 do­na­tions, to­tal Baht 3.3 mil­lion).

Dur­ing 2015 Baht 4.3 mil­lion ( 2014: Baht 8.6 mil­lion) was ex­pended by the Foun­da­tion for 27 Adopt- a- School projects ( 2014: 54 projects) which were funded by: ( i) do­na­tions Baht 5.5 mil­lion ( 2014: Baht 6.8 mil­lion) re­ceived by the Foun­da­tion, and ( ii) Foun­da­tion match­ing grants of Baht 1.2 mil­lion ( 2014: Baht 1.8 mil­lion).

Adopt- a- School projects for schools in Thai­land in 2015 in­clude con­struc­tion and ren­o­va­tion of school build­ings, in­clud­ing, class­rooms, toi­lets and can­teens, and the fund­ing of teacher fel­low­ships, in­clud­ing teacher fel­low­ship train­ing pro­gram, and pro­vi­sion of li­brary books, wa­ter tanks, play­grounds, wa­ter fil­tra­tion sys­tems, school fur­ni­ture and equip­ment, and school lunch pro­gram farm­ing equip­ment.

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