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Kasikornbank predicts disappointing economic growth at 4% this year

Thailand’s economic growth will possibly be capped at 4 percent this year given delays in the state’s 2014 budget spending and the planned Bt2 trillion investment on infrastructure development, a leading banker said last week.
Teeranan Srihong, Kasikornbank president, said there were no positive signs contributing to internal economic resurrection in the last four months of the year.
He forecast Thailand’s economic expansion by 4.5 percent next year after the global economy gains strength and the government kicks off some investment projects.
“Wars in some countries have toned down, boosting foreign consumers’ confidence. Thailand’s export sector should improve next year if the Thai currency remains weak as it is,” he said.
Teeranan said Thailand’s overall efficiency has neither improved nor worsened - ranked 27th among 60 countries - as surveyed by the Switzerland-based International Institute for Management Development (IMD).
Compared to countries in Southeast Asia, Thailand is third after Singapore and Malaysia due to its lack of infrastructure development.
The government has mapped out investment plans for various projects but they have never been implemented, diminishing Thailand’s competitiveness in the region and creating concerns that the country’s ranking may drop, he pointed out.
The private sector’s proposals on state investment in research and development of products, and human resources development have never been executed by the government, he said.
Expressing concerns on household debt, Teeranan said Kasikornbank has closely monitored the financial situation and found that non-performing loans remain controllable while borrowing expansion was on target at 9-11 percent. (MCOT)


Pig farmers nationwide prepared to protest US pork imports

Thai pig farmers nationwide are prepared to protest against the import of American pork.
Swine Raisers Association of Thailand president, Surachai Sutthitham, representing Thai pig farmers, will submit a letter to Thailand’s Trade Negotiations Department director-general and the US Embassy to stand firm on their position that Thai swine raisers are against importing pork from the United States.
Surachai said the imports will destroy the entire system of Thai pig farming and Thai swine farmers nationwide are ready to gather to protect their vocation by all possible means. The government could see an unexpectedly high level of protest, he added.
He asserted that Thailand’s pork production is sufficient for domestic consumption and sometimes is in oversupply.
Thailand should push for more pork exports instead of importing from other countries, especially the US, which still uses Ractopamine as a feed additive to promote leanness in animals raised for their meat.
The United States recently tried to negotiate via the Thai Trade Negotiations Department asking for a market opening for American pork products here.
The US said it will adjust the additive’s level to comply with the Codex standard, the international food standards recognized by the World Trade Agreements on Sanitary and Phytosanitary (SPS) and Technical Barriers to Trade (TBT) as being the reference point for food standards applied in international trade.
Surachai commented that such move was a pressure to Thailand and reflected a negative sign that the US would try its best for Thailand to open its pork market.
He added that an obvious example was seen when many Vietnamese pig farmers went bankrupt due to the dumping of US pork imports. (MCOT)


Kingdom Property joins forces with China’s leading real estate agent

Overseas sales: Kingdom Property will be working with SouFun, China’s leading real estate agency to secure sales in Mainland China.

Thailand real estate developer Kingdom Property has appointed China’s largest real estate agent, SouFun Holdings, to represent the company’s debut project, Southpoint Pattaya, in the booming Mainland Chinese market.
With an expected total of five million Chinese tourists visiting Thailand in 2013 alone, the growing Chinese demand for Thai property is one that Kingdom Property plans to maximize with the hiring of the NYSE listed company.
Kingdom Property Chief Executive Officer Nigel Cornick said that he was delighted to be working alongside SouFun in a market that offered a good match for high quality property developments such as Southpoint Pattaya.
“SouFun have a formidable track record and are very respected in the market - and we are pleased to have signed a partnership with them to represent us in China and join our established international team,” he said.
“It is clearly a market that requires a strong local partner - and in SouFun I believe we have found a company that provides Chinese buyers with a high level of confidence and we expect the market to continue to perform strongly for us.
“Pattaya represents excellent value as an investment, given the thriving tourism industry and an expanding manufacturing sector on the Eastern Seaboard, offering capital gains on property as well as a healthy rental market, plus a family-focused lifestyle option.”
Thailand’s soaring travel sector witnessed almost 15 million overseas arrivals for the period January through June 2013, China alone claiming 18% of the total market.

An exclusive development just a short walk from the Royal Varuna Yacht Club, Southpoint Pattaya represents an excellent investment for buyers.

The main buyer nationality in Southpoint Pattaya is Thai, accounting for 65 percent, followed by Chinese, Japanese and Russian buyers. The development is the first in a pipeline of projects in Pattaya currently valued at an estimated THB20 billion.
Southoint Pattaya is located on a four rai freehold plot, located a short distance south of Bali Hai in Pattaya City, on an elevated site on Pratamnak Hill, offering extensive sea views and within walking distance of the Royal Varuna Yacht Club.
Total sales of the twin-tower development now stand at over 60 percent, with the entire Suites Tower sold earlier this year to a local Thai investor who will develop the 224-unit building into internationally managed serviced residences.
Located a one-hour drive from Bangkok International Airport, unit sizes at Southpoint start from studios of 30sqm with one-bedroom units ranging from 41sqm to 87sqm and two-bedroom units ranging from 61sqm to 97sqm. The condominium includes a dedicated sky deck with an infinity edge lap pool and fitness center along with a landscaped family zone featuring a children’s pool and playground.
For Southpoint Pattaya sales enquiries please visit: www.southpointpattaya.com or email: info@kingdomproperty .com or call the Pattaya Sales Office tel: 038 416 441.


Shippers seek lower logistics costs

The Thai National Shippers’ Council has asked the government to guarantee clear measures to reduce tangible logistics costs.
At a seminar on developing Thailand’s logistics standards to welcome the ASEAN Economic Community (AEC), council president Nopporn Thepsittha said the private sector agreed with the government’s infrastructure investment plan which aims to reduce the country’s logistics costs to two percent.
However, he said in order to really help entrepreneurs lower logistics costs, which will help them become more competitive, the Thai National Shippers’ Council wants the government to guarantee that Thai logistics costs would be reduced at all levels.
According to Nopporn, transport by rail takes three steps to reach a port, for the process starts from factories by truck followed by rail, then by trucks to ports as the last destination.
The existing transport system uses only trucks to carry goods to ports, he said.
The council’s export target this year is expected to grow three percent. Thai exports this year grew only 0.6 percent during the first seven months. (MCOT)


Thai investment privileges, potential attract foreign investors

Foreign investors in Thailand are strongly confident in the country’s potential, with more than half keen on maintaining their investment portfolios here, according to the Board of Investment (BoI).
Chokedee Kaewsang, BoI deputy secretary general, said 63 percent of foreign investors planned to maintain their investment in the country next year and one-third, some 34 percent, said they would expand their investment.
Those countries with the highest level of investment are Japan, China and the European Union. None of the foreign investors said they would withdraw from the kingdom, he said.
Contributing factors for their business expansion are Thailand’s readiness to support industry, raw materials, infrastructure and investment privileges.
In terms of contributing factors for investment in Southeast Asia, Thailand ranked second, at 3.64 percent, after Singapore at 3.79 percent. Compared to other Asian countries, Thailand ranked after Japan which received 4.40 percent and close to China at 3.66 percent.
He said most foreign investors believed that their performance next year, whether from total revenue or revenue from domestic and international sales would be higher than this year, while their debt burden in 2013-3014 would be stable.
The BoI survey also found that 13.60 percent of foreign investors who have set up businesses in Thailand planned to venture to other countries, including Indonesia, Vietnam, Myanmar and Malaysia.
He said some investors wanted the BoI to speed up services such as the time necessary for approval of granting an investment privilege, increasing personnel for services and giving them advice on certain problems. (MCOT)


Bt204 million approved for online system monitoring govt’s rice stocks

The National Rice Policy Committee (NRPC) has approved a Bt204 million budget to improve the computer system of state agencies responsible for the rice pledging scheme.
Deputy Prime Minister and Commerce Minister Niwatthamrong Boonsongpaisan said all the agencies would be linked to an online database to enable checking of required documents, and relevant information including the volume of rice in the state’s stockpiles, the locations of rice warehouses and the volume of rice released to the market.
The Warehouse Organization will be the hub of data and information, which will be shared by the Bank of Agriculture and Agricultural Cooperatives, Marketing Organization for Farmers, Agricultural Futures Exchange of Thailand, Commerce Ministry, Finance Ministry and Agriculture and Cooperatives Ministry, he said.
The system should be implemented within two months, he said, assuring that the system would prevent corruption in rice purchases and facilitate enforcement of the rice subsidy program. (MCOT)


 
HEADLINES [click on headline to view story]

Kasikornbank predicts disappointing economic growth at 4% this year

Pig farmers nationwide prepared to protest US pork imports

Kingdom Property joins forces with China’s leading real estate agent

Shippers seek lower logistics costs

Thai investment privileges, potential attract foreign investors

Bt204 million approved for online system monitoring govt’s rice stocks  

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