3 Pinoys fall in $10-million scam in Thailand

MANILA, Philippines - Three Filipinos were among 15 foreigners arrested by Thai authorities for allegedly running a call center scam that duped people into wiring more than Bt320 million (more than US$10 million or more than P400 million) into their bank accounts.

A report Saturday in the Thai English language newspaper The Nation did not identify the suspects but said six are British, two American, two Romanian, three Filipinos, a German and a South African.

The report said the suspects were arrested at an apartment in Sukhumvit Soi 13 from where they operated the scam, which was based on bogus stock market trading.

The Nation quoted Thai police as saying the suspects, posing as independent brokers, would tell their victims, mostly Westerners, that they could make a 95-percent profit on their investments in return for a 25-percent cut of the profits.

The ring allegedly had a Swiss bank account from which they would transfer money to Malaysia and then to Thailand.

source: interaksyon.com

Thai company to invest P1.352 billion for hog farms in Central Luzon

MANILA, Philippines - A Thai company will spend P1.352 billion to put up a hog farm and slaughterhouse in the Philippines.

In a statement, the Board of Investments (BOI) said it approved tax perks for the project of Charoen Pokphand Foods Philippines Corp. (CPFPC).

The project involves the establishment of three swine farms for the production of breeder stocks: one farm in Floridablanca, Pampanga; and two farms in Concepcion, Tarlac.

The company plans to raise 25,453 heads of swine and 3,647 metric tons of slaughtered hogs once the project starts commercial operations in 2013.

The BOI said the Thai company's project would create an average net value-added of 75 percent of the economy.

The company plans to source raw materials for the manufacture of livestock feeds - corn, soybean, fish meal and other ingredients - from both local and foreign suppliers.

CPFPC is a wholly owned subsidiary of Thailand’s CP Foods PCL which already has existing business operations in the Philippines, including production and marketing of prawn and fish fries.

source: interaksyon.com