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Dusit Thani Pattaya appoints new resident manager

Chatchawal Supachayanont, general manager of Dusit Thani Pattaya has announced the appointment of Neoh Kean Boon as the resort’s new resident manager effective 15 February 2012.

Neoh Kean Boon.

He replaces Aloysius Michael who is now Dusit International’s corporate director of Rooms Division.

A Malaysian national, Neoh brings with him a wealth of experience in the hospitality business with a strong background in Food & Beverage. For over 18 years, he has advanced his career and performance at the hotels he has worked with including Meritus Pelangi Beach Resort & Spa in Langkawi, Malaysia.

With his new role, Neoh will be responsible for the overall operations of the hotel with focus on the F&B aspects.

Supachayanont expressed confidence that Neoh will lead Dusit Thani Pattaya in creating and implementing ideas as well as sound strategies to continue its achievements and gain more success.
 


Thailand’s exports fall 6% in January

Thai exports in January contracted by 6.03 percent year-on-year with the total value of over US$15.7 billion owing to Thailand’s 2011 mega-flood and sluggish demand in Thailand’s key markets - the US, Japan and the European Union, according to the Ministry of Commerce.

Deputy Commerce Minister Poom Sarapol told a news briefing on Thursday that the falling exports were attributed to the impact of the country’s floods late last year and the sluggish demand in the country’s main mature markets which have not yet fully recovered from the economic crisis.

Exports in agricultural and agro-industrial products shrank by 4.6 percent - including rice with a 39.8 percent decrease, rubber with a 20.6 percent drop as well as frozen and processed prawns declining 18.1 percent.

Similarly, industrial goods dropped 13.5 percent, particularly electronics with a 27.1 percent drop, electrical appliances with a decrease of 17.5 percent and 12.1 percent decline in automobiles.

Meanwhile, imports in the first month of this year exceeded $16.8 billion, contracting by 4.2 percent, involving mainly capital goods and raw materials.

In consequence, Thailand posted a trade deficit of some $1.1 billion.

Despite the contraction, the commerce ministry projected that the exports in the coming months would improve, Poom said, adding that the ministry still keeps its target of this year’s overall export expansion at 15 percent. (MCOT)
 


BoI investment promotions more than doubled in Jan-Feb

The number of overall investment projects applying for investment promotions, both Thai and foreign, reached 277 with a total investment value of Bt154.2 billion in the first two months of this year, while the investment value edged up by 133.3 percent from Bt66.1 billion last year, according to Industry Minister Pongsawat Svasti.

Industry Minister Pongsawat Svasti.

The number of projects surged by 14.5 percent from 242 year-on-year, the minister said, citing Thailand Board of Investment (BoI) figures.

Businesses for which investors seek promotional privileges with the highest investment value include chemicals, paper and plastics with 54 projects valued at Bt64 billion; service and public utility with 52 projects with an investment value of Bt32 billion; electronic products and electrical appliances with 57 projects valued at Bt25.6 billion; vehicle-related equipment, machinery and metals with 57 projects valued at Bt15 billion; and processed agricultural products and foods with 37 projects valued at Bt11.4 billion.

Pongsawat said such investment values reflect Thailand’s potential and investors’ high confidence on investing in the country.

Meanwhile, Thailand’s Board of Investment (BoI) Secretary-General Atchaka Sibunruang said such high surge was due to growing investment direction from abroad.

She said there were 188 projects for which foreign investors sought promotional privileges during Jan-Feb, with an investment value of Bt82.2 billion. The number of projects increased 30.5 percent from 144 year-on-year, while their combined investment value edged up 91.7 percent from Bt42.8 billion.

Electronic products and electrical appliances were the businesses for which foreign investors sought promotional privileges with the highest investment value at Bt25.5 billion (47 projects).

According to Ms Atchaka, foreign direct investment (FDI) promotions during the first two months were mainly businesses already invested in Thailand and wanting to expand their investment, counting for 114 projects with an investment value of Bt55.4 billion.

Japanese investors remain the most active applicants with an investment value of Bt38.2 billion with 101 projects. American investors came second in applying for 10 project promotions with an investment value of Bt8.1 billion, while investors from the Netherlands ranked third, seeking promotions valued at Bt6.6 billion with five projects.

Singaporean investors sought 14 project promotions valued at Bt3.2 billion, while Swiss investors applied for 13 projects with an investment value at Bt2.5 billion with four projects. (MCOT)
 


AFG looks at ASEAN and Myanmar

Dr. Iain Corness

The dynamic Automotive Focus Group (AFG) met at the Hilton Pattaya last week, later joining an informative address by Anthony Nafte - senior economist at CLSA.

Anthony Nafte.

New president, Uli Kaiser, introduced the new committee to the members, following the resignation of previous president James Beeson, who has taken up a senior appointment in Korat. In addition, secretary/treasurer Maurice Bromley and his wife Renita are returning to the Philippines, leaving another two vacancies in the executive, filled by Frank Holzer (VP), Randy Simmons (treasurer) and Armin Walter (secretary). Mention was also made that the AFG, now a stand-alone organization turns five years old this year, and a suitable celebration will be organized.

The AFG members were also very interested in the address given by Anthony Nafte, as since January 1997, Anthony has developed wide reaching expertise in various Asian economies. He is a specialist on emerging ASEAN markets, covering Indonesia, Malaysia, the Philippines and Thailand. He is currently based in Hong Kong and has a BSc in economics from the University of London and an MSc in economics from the London School of Economics.

The address was titled, “The Myanmar-Thai Nexus: Blazing the ASEAN Trail” following on from Myanmar’s recent political opening paving the way for an economic restructuring that will unleash the country’s huge potential. This is a nation rich in resources, with extensive arable land, a young labor force and the lowest wage level in the region. There will be significant impact that such development will have on the region, through enhanced connectivity with China, India and Japan and the opening of a new gateway to Europe. Thailand will be central in broadening the transportation network across ASEAN, spurred by its increasing reliance on Myanmar’s energy resources for sustaining its own economic upswing.

The presentation was quite informative - pointing out, for example, that Myanmar with its 60 million population, is actually the largest country in the mainland of SE Asia at 676,577 sq. km and 5,858 km of international borders.

Anthony spoke on the radical transition from a closed to an open economy, and with labor costs 24 percent of Thailand’s and 50 percent of China’s this will mean that political change is irreversible.

In the ASEAN region, Thailand is most integrated with Myanmar with already a large number of migrant workers, with close language and cultural ties.

70 percent of natural gas reserves are coming from Myanmar and this makes Myanmar an important resource in the ASEAN community.

Anthony highlighted the fact that Myanmar will import manufactured goods and cars from Thailand and will need skilled workers. Tourism will increase exponentially where currently there are 500,000 tourists in Myanmar with many going through Thailand, which currently enjoys 19 million tourists.

With all this activity happening across Thailand’s borders, the AFG members could see the opportunities that exist for business in Thailand.

Contact can be made with the AFG through the president email [email protected].
 


PM says high consumer product prices resulted from last year’s flood

Prime Minister Yingluck Shinawatra on Saturday said high consumer product prices were the result of the massive flood last year, and ordered the Commerce Ministry to speed up expansion of the “Blue Flag” program to sell inexpensive consumer goods to help low-income earners.

The premier, on her weekly program “Yingluck Government Meets the People,” said that the flood crisis of last year was the major factor that caused high prices of consumer products.

She said that consumer goods prices were lower when compared with the same month last year but the flood had forced many factories to halt their operations, while many distribution centers could not deliver the products, eventually causing prices to increase as demand was much higher than the supply.

However, she expressed confidence that the high prices of food and consumer products would return to normal by June this year.

Ms Yingluck said she has ordered the Commerce Ministry to speed up the expansion of the “Blue Flag” program to sell consumer goods at low prices assisting low-income earners, and expected every community to have one Blue Flag shop or stall starting this month.

The ministry of commerce and relevant offices would implement measures to ensure that prices of consumer goods were reasonable, particularly those of eggs and palm cooking oil, said the premier.

The prime minister said the government believed the rise of world oil prices would be only short term and would not intervene in domestic oil prices, but measures would be taken to ease the impact on the public. (MCOT)
 


HEADLINES [click on headline to view story]

Dusit Thani Pattaya appoints new resident manager

Thailand’s exports fall 6% in January

BoI investment promotions more than doubled in Jan-Feb

AFG looks at ASEAN and Myanmar

PM says high consumer product prices resulted from last year’s flood
 

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