Tax Audits and Tugboats

Madonna! It's been three weeks since I last updated this blog – three weeks during which I've been dealing with the torturous and stressful process of an end of year audit of my yards, their inventories and accounts prior to my submission of an annual tax return.
At the best of times, navigating a course through Thailand's company tax and corporate governance requirements can be testing, particularly for a foreigner, but it is especially so at the end of a year of unprecedented growth which has seen revenue jump by triple figure percentage points. This despite an horrendous fall in the value of the US dollar which, until last month, was the currency in which all my foreign build contracts were negotiated (we now quote only in euros or Thai baht).
Meanwhile, RB Power & Sailing continues to receive orders and requests for quotations every day, even as we explore how best to expand our range of production vessels. One idea I'd like to revisit a very robust, powerful, diesel-powered, 30-foot tug. The Soawanee (pictured above) was first designed and built by my company as a GRP service vessel for Unocal's operations off the coast of Vietnam. It would make a fine, heavy displacement fishing or diving boat and could be further refined as a coastal day cruiser.