Pages: 1 2 
Send Topic Print
Would you like to own a new bank in Laos (Read 19789 times)
 
Tee
Senior Member
Meaning of the starsMeaning of the starsMeaning of the starsMeaning of the stars
Offline


My Home,My love and my
only place to be R.I.P

Posts: 328
Sydney, Australia
Gender: male
Would you like to own a new bank in Laos
7th Jan, 2010 at 10:46pm
 
I have reading The Phongsavanh Group that own the only Laos privately own bank!
http://www.phongsavanhbank.com/background.php

I am thinking why don't we start our business owning a new bank in Laos! Since they only need deposited the minimum capital reserve requirement of
US$2.5m
well in advance of the Bank of Lao PDR. The Bank has a registered capital of
US$10m.
I am sure we can raise that kind of money own self (Laos who live aboard) What do think? It's a business idea feel free to express. Why it's not good or It's a good ,but!
Back to top
 
View Profile  
IP Logged
 
Admin Saovaluck
Miss Administrator
Meaning of the starsMeaning of the starsMeaning of the starsMeaning of the starsMeaning of the stars
Offline


Lao Pride and No. 1 fan
of Judy Garland from
Laos!

Posts: 4674
Vientiane, Laos
Gender: female
Age: 34
Awards: 5
Judy Garland Gold Star AwardJudy Garland Silver Star AwardTop Poster AwardOutstanding Contribution AwardLaotian Award




Judy Garland's Ruby Slippers
The most beautiful pair of shoes worn by the most beautiful actress in movie history.
Re: Would you like to own a new bank in Laos
Reply #1 - 8th Jan, 2010 at 12:52am
 
I don't think many Lao people who live abroard will want to start a bank business in Laos with that much money. They probably need to have good knowledge of bank operating procedures too.

If they already have millions of dollars, then they must be doing something right in their country. I say just continue with what they are already doing, instead of throwing all that money into a risky business in Laos.
Back to top
 
View Profile WWW JudyGarlandAsDorothy MissJudyGarland saolili  
IP Logged
 
Buk Hoo Kee
Senior Member
Meaning of the starsMeaning of the starsMeaning of the starsMeaning of the stars
Offline



Posts: 358
Laos
Gender: male
Age: 31
Awards: 2
Outstanding Contribution AwardLaotian Award
Re: Would you like to own a new bank in Laos
Reply #2 - 8th Jan, 2010 at 1:04am
 
She right, a bird in the hand is worth two in the bush. I'll tell you a true story about a so called rich family that I knew in Vancouver Canada who went to Thailand with their fortune and came back broke within a year. This Laos/Thai family of 4 had some connections to make money in the drug trade in Vancouver. After a few years of doing "business", they decided to sell their house and go to Thailand and start a business with their family there. I'm guessing they had about 1 million cdn with them at the start. After a year, we saw them come back with sad faces like someone had died in their family. They went back to living in a 2 bedroom apartment in the bad side of town and lived quietly ever after. They went to do business with their own blood family and got eaten alive. Doing business in a foreign country is risky business to begin with. Not being able to trust even family, now that tells you something. Money is thicker than blood over there so you better have deep pockets.
Back to top
 

Got rice?
View Profile Buk Hoo Kee  
IP Logged
 
Tee
Senior Member
Meaning of the starsMeaning of the starsMeaning of the starsMeaning of the stars
Offline


My Home,My love and my
only place to be R.I.P

Posts: 328
Sydney, Australia
Gender: male
Re: Would you like to own a new bank in Laos
Reply #3 - 8th Jan, 2010 at 1:11am
 
It's would be set-up like Share system. Everyone would own part of it. to own part of it can start from as little as $500 to $200,000. We will be paying the experience and expert in this field to manager business!

A lot of Laos live aboard have asset of over 1 million easily this day. Bank business is not risky business if you know what you are doing!
Back to top
 
View Profile  
IP Logged
 
BorLeumBanGerd
Junior Member
Meaning of the starsMeaning of the stars
Offline


I Love Laos!

Posts: 71
Re: Would you like to own a new bank in Laos
Reply #4 - 8th Jan, 2010 at 2:19am
 
What's the cost of borrowing in Laos?  Like what is the interest rate for a commercial loan? Is there such a thing as a mortgage loan for a HOME?

Someone told me that most Laos people buy stuff CASH! 30K, 40K, 50K CAR =  CASH!
Back to top
 
View Profile  
IP Logged
 
Buk Hoo Kee
Senior Member
Meaning of the starsMeaning of the starsMeaning of the starsMeaning of the stars
Offline



Posts: 358
Laos
Gender: male
Age: 31
Awards: 2
Outstanding Contribution AwardLaotian Award
Re: Would you like to own a new bank in Laos
Reply #5 - 8th Jan, 2010 at 2:26am
 
Loan = trust
cash = no trust
Laos loves ca$h

When I was there, you could only withdraw up to $1k US out of the banks per week. Someone told me the gov't banks don't have enough money to cover. My dad's friend who lives there was given old planes from the gov't since they didn't have the money to pay him for some reason. So they gave him the old planes to strip down and sell the metal, that was how they paid him, pathetic don't you think?
Back to top
 

Got rice?
View Profile Buk Hoo Kee  
IP Logged
 
Tee
Senior Member
Meaning of the starsMeaning of the starsMeaning of the starsMeaning of the stars
Offline


My Home,My love and my
only place to be R.I.P

Posts: 328
Sydney, Australia
Gender: male
Re: Would you like to own a new bank in Laos
Reply #6 - 8th Jan, 2010 at 2:48am
 
Most people are buying cash! but the bank is making money from the fee and the commercial borrowing. some with project that involve with foreign aid.(The Aid organiser don't trust Laos Government to manage the Money,While sitting here. we can invest or lent to someone that would need it) I think won't be long Mortgage type of product would be on offer.
Back to top
 
View Profile  
IP Logged
 
Admin Saovaluck
Miss Administrator
Meaning of the starsMeaning of the starsMeaning of the starsMeaning of the starsMeaning of the stars
Offline


Lao Pride and No. 1 fan
of Judy Garland from
Laos!

Posts: 4674
Vientiane, Laos
Gender: female
Age: 34
Awards: 5
Judy Garland Gold Star AwardJudy Garland Silver Star AwardTop Poster AwardOutstanding Contribution AwardLaotian Award




Judy Garland's Ruby Slippers
The most beautiful pair of shoes worn by the most beautiful actress in movie history.
Re: Would you like to own a new bank in Laos
Reply #7 - 8th Jan, 2010 at 7:31am
 
BorLeumBanGerd, everything has to be made in cash but not necessarily paid in full if you don't have enough money.

For example, if a house is worth $30,000, you're expected to pay at least $15,000 up front and the other half can be paid in installments which will include interest. How much monthly payment and interest is worked out between the buyer and seller.


Buk Hoo Kee, I'm still laughing after reading your post about your dad's friend. Sorry I thought it was funny.
Back to top
 
View Profile WWW JudyGarlandAsDorothy MissJudyGarland saolili  
IP Logged
 
BorLeumBanGerd
Junior Member
Meaning of the starsMeaning of the stars
Offline


I Love Laos!

Posts: 71
Re: Would you like to own a new bank in Laos
Reply #8 - 8th Jan, 2010 at 1:46pm
 
>> I like you enthusiasm and your benevolent intentions of trying to help bring $$ to local Laotians to establish or build businesses.  There are so MANY uncertainties or RISKS involved.

1 - Government rules and regulations to protect banks. Do you get tax INCENTIVES from governments?

2 - Market and Currency RISKS. Volatile times in BANKING IN THE WHOLE WORLD.

3 - Borrowers NOT HAVING SUFFICIENT ASSETS to securitize the loans. I DON'T THINK YOU WANT TO LOAN OUT $$ FOR NOTHING. If the loans were to default, how QUICKLY can you SELL that collateral and GET YOUR $$ BACK?

4 - OVERALL lack of knowledge and understanding about credit, lending and securitization by local Laotians.  Most borrowing in Laos is by TRUST and WORD OF MOUTH!

5 - Is there a BIG enough market for you to MAKE MONEY? WILL IT BE PROFITABLE ENOUGH? Do the RISKS outweigh REWARDS?

6 - How/Where would you get a CREDIT CHECK on BORROWERS? You need to know their history...you can't just lend out $$ to anybody. Again, this goes back to the question of TRUST?  At least in US and I'm sure in Aussie as well, there are BACKGROUND and CREDIT CHECKS you can do on borrowers!

7 - LASTLY - WHAT IS YOUR LEVEL OF EXPERIENCE, KNOWLEDGE and TRAINING in BANKING, LENDING, MANAGING a BUSINESS?

Top 2 reasons why new companies FAIL:

# 1 - LACK OF CAPITAL. The business does NOT have enough $$ to operate, pay employees, supplies, etc. Companies need a LOT of reserve capital to keep business running b/c the first 6 months..will NOT be PROFITABLE.

# 2 - Business owners LACK of KNOWLEDGE, TRAINING, EXPERIENCE and DECISION MAKING

These are you some examples. If I missed some...please feel free to ADD. I typed this up in 10 minutes....

My suggestion to you...keep you $ 1 million (AUD)..invest in TAX FREE municipal bonds..SAFER and GOOD RETURNS!
Back to top
« Last Edit: 8th Jan, 2010 at 3:22pm by BorLeumBanGerd »  
View Profile  
IP Logged
 
BorLeumBanGerd
Junior Member
Meaning of the starsMeaning of the stars
Offline


I Love Laos!

Posts: 71
Re: Would you like to own a new bank in Laos
Reply #9 - 8th Jan, 2010 at 3:21pm
 
Just thought of 1 more thing also IMPORTANT:

8 - QUALIFIED EMPOYEES! You definately need educated and well qualified employees that understand banking and all its rules and procedures and local LAWS pertaining to LENDING.
Back to top
 
View Profile  
IP Logged
 
Admin Saovaluck
Miss Administrator
Meaning of the starsMeaning of the starsMeaning of the starsMeaning of the starsMeaning of the stars
Offline


Lao Pride and No. 1 fan
of Judy Garland from
Laos!

Posts: 4674
Vientiane, Laos
Gender: female
Age: 34
Awards: 5
Judy Garland Gold Star AwardJudy Garland Silver Star AwardTop Poster AwardOutstanding Contribution AwardLaotian Award




Judy Garland's Ruby Slippers
The most beautiful pair of shoes worn by the most beautiful actress in movie history.
Re: Would you like to own a new bank in Laos
Reply #10 - 8th Jan, 2010 at 11:37pm
 
Qualified employees are plentiful, otherwise there wouldn't be any banks operating in Laos at the moment. Local Laotians are smarter than you think.

When thinking of starting a business in Laos, you need to understand that Lao law favours the locals and protects us. It's easier for foreigners to get into trouble so understanding the law is first things first.
Back to top
 
View Profile WWW JudyGarlandAsDorothy MissJudyGarland saolili  
IP Logged
 
Tee
Senior Member
Meaning of the starsMeaning of the starsMeaning of the starsMeaning of the stars
Offline


My Home,My love and my
only place to be R.I.P

Posts: 328
Sydney, Australia
Gender: male
Re: Would you like to own a new bank in Laos
Reply #11 - 9th Jan, 2010 at 12:15am
 
Every business is have some kind of risk involve!
I don't a qualification in banking,but that doesn't mean I don't know anything about it.
American and Europe in trouble because they lend to any one even they know they can't pay back and no security over the loan. most lender just want to know how much they can get that commission at end of that month. I call is "Greed" That why most you are in trouble. Australia have a tough banking system. we don't just lend to anyone. We may make less commission but we are secure.

I can see you think like people who work for Public servant. you probably never in any business before. You have a very high education than me. Do you think Bill gate and Warren Buffett know every about his business,I think not. because he is paying someone to do that job for them. As long as you have a good business system. that will make the company running smoothly. You have to learn to trust.....and take risk. as long is minimum..... that will be ok........
Our Parent have lose every thing their got and I got only one dollar when I got here....  I would always try.....to do again and again.....
Back to top
 
View Profile  
IP Logged
 
BorLeumBanGerd
Junior Member
Meaning of the starsMeaning of the stars
Offline


I Love Laos!

Posts: 71
Re: Would you like to own a new bank in Laos
Reply #12 - 9th Jan, 2010 at 1:01am
 
MY RESPONSE LISTS SOME OF THE FUNDAMENTAL THINGS PEOPLE SHOULD CONSIDER BEFORE JUMPING IN TO OPEN A BUSINESS. 

IT WAS NOT INTENDED TO INSULT OR OFFEND ANYONE'S EDUCATION OR SKILLS! SO PLEASE DON'T TAKE IT AS SUCH.

THINGS TO RESEARCH...THAT'S ALL I'M SAYING... THE MORE RESEARCH YOU DO...THE MORE PREPARED YOU WILL BE TO RUN A SUCCESSFUL BUSINESS.

Good Luck with your business!



Back to top
 
View Profile  
IP Logged
 
Tee
Senior Member
Meaning of the starsMeaning of the starsMeaning of the starsMeaning of the stars
Offline


My Home,My love and my
only place to be R.I.P

Posts: 328
Sydney, Australia
Gender: male
Re: Would you like to own a new bank in Laos
Reply #13 - 9th Jan, 2010 at 3:19am
 
This is just a suggestion. I am not going to jump in with out knowing any rule & regulation and Tax law in Laos. what kind of benefit for a foreign company to invest in this kind of business I don't know yet! I just thought to apply for the bank licence is so expensive in other country. In Laos only need 2.5M and about 10M in capital that is consider a small business in the Western country.
After the research  come back with a minimum risk and write good business plan would be quite easy to raise this kind of money. We have to go in as a Foreign company in other to get international law to protect us from the deal go bad. any thought on that, please feel free to add!
Back to top
 
View Profile  
IP Logged
 
BorLeumBanGerd
Junior Member
Meaning of the starsMeaning of the stars
Offline


I Love Laos!

Posts: 71
Re: Would you like to own a new bank in Laos
Reply #14 - 9th Jan, 2010 at 7:50pm
 
Here's link to the most respected law firm in Laos.

http://laolaws.com/index.html

Back to top
 
View Profile  
IP Logged
 
Pages: 1 2 
Send Topic Print
The newest 10 Board Topics
No. Board Name Topic Started By Replies Views Last Post on Topic
1. Judy Garland Board Judy Garland's ruby slippers project in January, 2024 Admin Saovaluck 4 78627 Last Post 1st Feb, 2024 at 3:05am
By: Admin Saovaluck
2. Judy Garland Board Judy Garland as Dorothy's reproduction gingham pinafore dress Admin Saovaluck 35 248833 Last Post 19th Jan, 2024 at 4:36pm
By: Admin Saovaluck
3. Judy Garland Board Judy Garland's ruby slippers project in July, 2023 Admin Saovaluck 6 133122 Last Post 24th Sep, 2023 at 7:16am
By: Admin Saovaluck
4. Judy Garland Board Judy Garland's ruby slippers project in August, 2023 Admin Saovaluck 7 69827 Last Post 11th Sep, 2023 at 12:35pm
By: Admin Saovaluck
5. Judy Garland Board Judy Garland's ruby slippers project in September, 2022 Admin Saovaluck 1 47453 Last Post 9th Jul, 2023 at 7:51am
By: Admin Saovaluck
6. Judy Garland Board Judy Garland's ruby slippers project in May, 2023 Admin Saovaluck 4 73934 Last Post 30th May, 2023 at 4:36pm
By: Admin Saovaluck
7. Judy Garland Board Judy Garland's ruby slippers project in March, 2023 Admin Saovaluck 7 57562 Last Post 8th May, 2023 at 4:39pm
By: Admin Saovaluck
8. Judy Garland Board Judy Garland's ruby slippers project in February, 2023 Admin Saovaluck 5 45393 Last Post 28th Apr, 2023 at 4:39pm
By: Admin Saovaluck
9. Judy Garland Board Judy Garland's ruby slippers project in January, 2023 Admin Saovaluck 7 40991 Last Post 28th Apr, 2023 at 4:19pm
By: Admin Saovaluck
10. Judy Garland Board Judy Garland's ruby slippers project in December, 2022 Admin Saovaluck 4 33963 Last Post 28th Apr, 2023 at 4:03pm
By: Admin Saovaluck


Back to: Lao Pride | Lao Pride Forum