Thailand Privilege Card (TPC), issuer of the Thailand Elite Card, is being investigated by an audit team of the Tourism and Sports Ministry which is considering whether to continue further operations as the firm has claimed poor profitability since its establishment.

A source from the tourism industry said that TPC was being investigated for its unprofitable performance. The investigation is expected to be completed by end of this month and a decision will be made whether to scrap the company or continue operations.

Most of the audit members are retired officials, led by Sima Simanont.

Established during the administration of former prime minister Thaksin Shinawatra, TPC is a wholly owned subsidiary of the Tourism Authority of Thailand (TAT). The company is responsible for the Elite Card's membership recruitment and management as well as the distribution of revenue to the tourism-related operators who are selected as service providers.

The firm provides solutions to serve members, from businessmen to young travellers and senior citizens from around the world.

The interim government has appointed a new Tourism and Sports Minister, Suwit Yodmanee, to replace former minister Pracha Maleenont.

The new government has paid much attention to corruption in Thaksin's projects, including TPC, and has already halted some.

In the meantime, TPC president Choksiri Rodboonpha quit the company, causing internal problems.

So far, Suwit has confirmed that he will keep TPC as one body driving the tourism industry despite rumours of TPC's collapse. There is another rumour that the Ministry of Finance wants to end TPC as it foresees fewer business opportunities.

A Finance Ministry source said that Finance Minister Pridiyathorn Devakula has talked about the future of TPC but arrived at no solution.

Pridiyathorn said early this week that he wanted to keep TPC and had no plans to close any of its operations.

"Pridiyathorn wanted to terminate this company, but he is afraid that the country's image would be damaged by the move," the source said. However, the source said Pridiyathorn was likely to accept any decision made by the audit group late this month on whether to close TPC or not.

Some newspapers reported that foreign members might sue TPC and ask for compensation if the company cuts off its lifetime-services contract.

TPC has been operating with many problems since its establishment. Currently, board member Rapee Moungnont is acting as president. The process for the selection of a new president is expected to be completed by the first quarter next year.

TPC has 1,700 members worldwide, mostly from Asian countries. The company has hired 130 staff, working at the head office on Sathorn Road and at Suvarnabhumi Airport. According to the source, most TPC staff believe the company will not come to an end.

Suchat Sritama

The Nation