|
ESIE Safety Club visits ESBEC
Members
of the Eastern Seaboard Industrial Estate (ESIE) Safety Club recently
visited the Eastern Seaboard Environmental Complex (ESBEC) to follow up
ESBEC progress by Modern Sanitary Landfill.
Advanced Info Service subscriptions rise in November 2002
Thailand’s largest mobile phone firm, Advanced Info
Service (AIS), announced on February 2nd that its subscriber growth
increased in November and its customers were spending more.
AIS, founded by Thai Prime Minister Thaksin Shinawatra,
said on its website it registered 337,100 net new subscribers in November,
up 32 percent from 255,300 in October. AIS had 9.96 million registered
subscribers at the end of November, a market share of around 60 percent. Its
user growth peaked in August with 858,700 new clients before slowing in the
following two months.
AIS is majority owned by Shin Corp, Thailand’s largest
telecoms conglomerate, with Singapore Telecommunications owning 19 percent.
The company said average revenue per user (ARPU) from
pre-paid clients, which make up about 77 percent of the total, increased for
the second consecutive month in November. Pre-paid ARPU rose by 5.4 percent
to 334 baht ($7.77), from 317 baht in October. AIS had 371,100 net new
prepaid subscribers in November, up 27 percent from 292,200 in October.
Revenues for post-paid GSM subscribers also increased
slightly to a monthly 1,157 baht per user in November, against 1,145 baht
per user in October.
AIS’s rival, Total Access Communication (TAC), posted
slower subscriber growth in November. (TNA)
Thais spend over Bt2.4 billion for New Year gifts
Thai people spent over 2.4 billion baht on New Year gifts
this year, thanks to the improving economy.
The latest report from Thai Farmers’ Bank Research
Center (TFRC) said that more revenue was generated in the Thai economy
during the New Year festival because businesses in many sectors are growing
and because employees received higher incomes and therefore had more
purchasing power.
Thai people spent the most money on buying New Year
presents for their parents and siblings - 33.8% higher than last year. Gifts
purchased for their customers or business firms represented a 21.2% increase
from last year, and presents for spouses or lovers were 17% higher than last
year.
Popular products people bought for their New Year gifts
were those of good quality and utility but with reasonable prices.
The TFRC survey found, however, that community products
were not popular among the under-30 years old group. The leading think tank
suggested that more campaigns be launched to promote community products to
the youngsters, and that designs and packaging be improved to meet the
demand and taste of the younger group of consumers. (TNA)
Survey shows most remain confident of government’s performance
Most people remain confident in the government’s
performance, particularly in its plan to repay debts it owes the
International Monetary Fund (IMF) ahead of schedule, according to Rajaput
Institute’s Suan Dusit Poll.
The survey was conducted from a random sample of 3,847
people in all walks of life in Bangkok and its environs, as well as major
provinces in different regions during December 15-31.
The poll showed 65.98% of people surveyed said they had
confidence in the government’s performance. Of this, 68.18% was confident
of its performance in the social activity, 65.37% in the economic activity,
and 64.98% in the political activity.
The survey found 25.8% appreciated the government’s
efforts to improve the economy and repay debts with IMF ahead of time,
21.71% admired its social order, 17.54% its narcotics suppression, 9.34% its
universal health insurance scheme, and 7.69% its efforts to help farmers.
On people’s confidence in the opposition’s
performance, 57.67% believed in its examination of the government’s work.
Of this, 60.63% was confident of its examination of the political activity,
57.04% of the social activity, and 55.33% of the economic activity.
The poll found 47.32% was confident of the opposition’s
examination of corruption and 31.78% of its monitoring and control of the
government’s performance. (TNA)
Outstanding payment in credit card business on the rise
The outstanding payment in the credit card business has
increased by more than 7 billion baht while the total spending rose by only
3 billion baht in the third quarter, according to the Bank of Thailand.
BOT’s Financial Institutions Policy Department says
that said the number of credit card members and spending through the cards
in the third quarter rose from that of the second quarter as a result of
incentives issued to boost consumer loans and the central bank’s easing of
card membership criteria.
The number of credit cards had increased 453,131 to
3,268,137 from 2,815,006 in the second quarter.
Of this, 437,222 cards or 90% were issued by local
commercial banks and the remaining 15,909 by foreign banks.
Total spending through credit cards had also climbed up
by 3.6 billion baht to 70.97 billion from 67.64 billion.
Of this, 68.16 billion baht was spent locally with 45.37
billion by Thais and the remaining 22.78 billion by foreigners.
It should be noted outstanding payment in the credit card
business in the third quarter had increased by 7.69 billion baht to 51.66
billion from 43.96 billion in the second quarter. Of this, 6.45 billion baht
belonged to local commercial banks and the remaining 1.24 billion baht to
foreign banks. (TNA)
Chicken and shrimp exporters expect EU to ease inspections
Deputy Agriculture Minister Newin Chidchob recently
announced that Thailand expects the European Union will soon lift the 100%
inspections on Thai chicken and shrimp exports.
In 2002 the EU tightened its rules on Thai chicken and
shrimp exports, subjecting them to tight inspections due to the danger of
chemical residue present in the products. Some Thai chicken exports to the
EU were found to contain residue of the chemical substance nitrofuran.
The EU plans to send a team to the Kingdom in February to
randomly check production processes, without naming the products and
factories to be inspected.
Newin will visit Brussels to negotiate with the EU and
request the easing of the 100% inspection regulation.
Yukol Limlamthong, director-general of the Livestock
Development Department, said that all the necessary information from the
parties concerned was now ready for Newin’s trip. Yukol added that
Brussels has notified the ministry that it will send officials to inspect
the production processes of Thai chicken and shrimp products exported to the
EU next month.
The Livestock Development Department has advised
exporters of chicken and shrimp products to focus on production standard
regulations in order to meet EU export-quality requirements. Exporters of
other farm products should also concentrate on international standards to
avoid strict inspection measures, Yukol said.
The EU normally inspects the production processes of Thai
agricultural products every two years. However, after the discovery of
nitrofuran traces in chicken and shrimp, it instructed its representatives
in Thailand to introduce stricter inspections. (TNA)
Analysts say bank lending could
grow 3-5% this year
In 2002, the banking system posted its first modest but
positive loan growth since the 1997 economic crisis. Bankers and analysts
say they expect Thailand’s banking sector to post a loan growth of about
3-5 percent this year. Aided by a growing domestic economy Thai banks have
seen their loan portfolios grow.
In November of last year, loans extended by Thai
commercial banks totaled 36.66 billion or 1.02 percent higher than those in
October. The rosier outlook is contributed to the fact that most banks
focused attention on retail borrowers rather than corporate clients.
Tax incentives launched by the government to stimulate
the property sector have also added to the modest recovery in the banking
sector. These incentives allowed banks to sell seized assets. Although
brighter prospects are projected for this year, banks remain concerned about
the burgeoning non-performing loans (NPL) and effective risk management must
be implemented to avoid another debt-failure crisis.
Full recovery in the banking sector may still be years
away, however, most manufacturers in the country are still running at below
capacity and will not need bank loans,
Kosit Panpiemras, executive chairman of Bangkok Bank,
said he expects local banks to focus more on improving their respective
services to stay competitive. (TNA)
Thailand has ridden out the economic crises says academic leader
According to Theerayuth Boonmee, lecturer at Thammasat
University, Thailand has already ridden out the worst of the economic crisis
as the government has played a crucial role in stimulating the economy.
Assessing the overall economy, society and culture following the economic
crisis the country has managed to weather the storm.
Theerayuth pointed out this could be witnessed by the
improvement in the export and agricultural sectors and the development of
working culture of Thai people. Production capacity in many sectors has also
improved.
He said the government led by Prime Minister Thaksin
Shinawatra has played a significant role in jumpstarting the economy.
Although the United States economy had been in doldrums for two years, the
Thai economy has not been adversely affected as the baht value and the stock
market have maintained stability.
Theerayuth believes the US economy could continue to
recede as a war between the US and Iraq seems likely to occur. However,
fears of the incident could result in a capital inflow in Asian countries
including China, South Korea, Taiwan and Thailand. He suggested Thailand
accelerate economic activities in China, Russia and India. Tourism, export,
culture, skilled work production, and all kinds of services should be
promoted in these countries.
He added the government will still need to implement its
economic policy in the next 1-2 years with caution as non-performing loans
could increase to 30% of the outstanding loans. He agreed that the
self-sufficient economic policy given by His Majesty the King has played a
crucial role in stimulating the value of being Thais and the appreciation of
life-styles of moderation. (TNA)
MOC rules out possibility
of deflation
The Commerce Ministry is still ruling out the possibility
of deflation, saying the inflation rate this year is likely to double that
of last year. Commerce Permanent Secretary Karun Kittisatanporn projected
2003’s inflation rate will stay at 1.5% compared with 0.7% in 2002.
The ministry views the significant rise in the inflation
is in line with the improvement in the overall economy. The consumer price
index in December last year increased by 0.1% from that of November,
however, it rose by 1.6% from that of December in 2001 and by 0.7% year on
year.
This year, the ministry forecasts the inflation rate
would stay at a range of 1-1.5% since farm product prices were expected to
rise by 20-25 percent.
“The increase in the inflation rate reflects the fact
that people have more confidence in the country’s overall economy and are
starting to spend more,” Karun said.
The inflation rate edged up in December as a result of
higher prices of key consumer products such as vegetable oil, soybean oil,
and instant food.
SET chief says 60 more firms to be listed on market
The Stock Exchange of Thailand’s President Kittirat Na
Ranong disclosed earlier this month that 60 more companies will be listed on
the market through the year 2003 although stock markets around the world
will remain bearish for fears of a war between the United States and Iraq.
He views local stock prices as relatively low given their performance
results or dividends paid by listed companies. This provides a good
opportunity for investors to invest in the market now.
Kittirat suggested investors not seek foreign loans to
invest. Instead, they should set aside around one fourth of their savings to
invest in business in which they have expertise.
“As long as deposit rates remain very low, it is a good
time to invest in debt instruments or securities as they could give more
returns,” Kittirat said.
The SET plans to increase business activities in terms of
quantity and quality this year. For instance, investment fairs will be held
to enhance investors’ knowledge. Investors will be encouraged to visit
listed companies. A road show, headed by Finance Minister Somkid
Jatusripitak, will be made in London to build up foreign investors’
confidence.
Kittirat said he hopes foreign capital will not flow into
the market in large amounts as he thinks local savings are enough to
strengthen the market. (TNA)
Cetelem inaugurates its first outlet upcountry
As part of its strategy to better serve local retailers,
Rayong is chosen as location for first outlet; expansion plans include the
opening of more Cetelem outlets in other provinces in the near future.
Cetelem, the trusted name in consumer finance, announced
the opening of its first outlet in Rayong, which is also its first branch
outside the Bangkok Metropolitan Area. This move will enable consumers in
the economically bustling Rayong and its vicinity to benefit from the
state-of-the-art Application Online System (AOS) that the Cetelem name now
stands for.
Pedro Rodriguez, chief executive officer of Cetelem
Thailand, is confident that this first venture upcountry will be beneficial
to consumers and retailers alike. “We have chosen Rayong for our first
outlet outside the capital because it is a growing city with a great
potential. The progressive changes in the region have brought about evolving
lifestyles and this means that the people have more needs and demands. By
offering flexible financial solutions to them, we are making it possible for
families to purchase the items they need while managing their budgets.”
“For the retailers, our presence means a boost in their
sales, because we make it possible for customers to purchase more items. We
hope to open more Cetelem branches upcountry in the near future,” he
explained.
The new Cetelem outlet, to be opened seven days a week is
located at Star Plaza in the city center. It offers customers a non-fixed
credit limit for hire purchase items based on their individual profile. In
addition, thanks to Cetelem’s state-of-the-art Application Online System (AOS),
applicants for consumer credit can receive an answer within minutes of
submitting their applications. With a fast approval turn around time,
customers can bring home their purchases immediately.
Retailers in the eastern provinces of Rayong, Chonburi,
Pattaya and Chantaburi will also benefit not just from the efficient credit
service each time they submit their customers’ hire purchase applications
for evaluation, but also from Cetelem’s quick reimbursement on a daily
basis.
Operating in Thailand since July 2000, Cetelem Thailand
offers a comprehensive range of credit facilities exclusively to Thai
individuals with household finance needs. It currently employs over 400
people and works with over 600 retailers in Bangkok and vicinity area such
as Carrefour, Home Pro, Data IT, IT City, Future AV, Mega Store, B-Quik and
others.
|
