IT'S OVER Thailand Elite Card Closing Down
The beleaguered Elite Card or more correctly Thailand Privilege Card Co., will be wrapped up due to financial insolvency according to a government release.
Things still appear to be sticky with an existing international membership of 2,565 and 85 employees.
It's been quoted in the local press that a budget of THB2.5 billion has been set aside by the government to settle with existing customers and close out expenses.
What's left for many is the painful memory of a high profile initiative by former Prime Minister Thaksin Shinawatra which went awry.