Industry, Business & Finance miscellaneous [Archive]

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ttaaee

17-09-04, 01:01 PM

Thailand Off U.S. List of Drug Countries - AP (http://asia.news.yahoo.com/040916/ap/d85505r01.html)

Friday September 17, 5:17 AM

President Bush has removed Thailand from the U.S. government list of countries where significant illicit drug trafficking takes place.

The move was the result of Thailand's progress in reducing opium poppy cultivation along with advances in other areas, the White House said Thursday in a statement.

With Thailand deleted from the list, the number of major drug-transit or drug-producing countries was reduced to 22.....

ncr

15-04-05, 09:35 PM

An article in the Bangkok Post yesterday (apparently not online, at least I couldn't find it), titled "Nike makes step to transparency" said that the American sportswear company has for the first time disclosed the names and locations of its contract factories in a 108-page "corporate responsibility report". (This being part of a move of companies in the industry to counter the criticism concerning the working conditions of subcontractors' employees/ exploitation of cheap labour, by enabling independent observers to monitor those facilities.)

Some interesting facts:

Nike Inc. has 705 factories in 52 countries worldwide;
of these, only 49 are located in the US;
most plants (124) are in China;
Thailand is #2 with 73.

Other countries in the region include:

Indonesia (39)
Vietnam (34)
Malaysia (33)
Taiwan (19)
Hongkong (8)
Macau (3)
Singapore (2) (not really known for cheap labour!)
Cambodia (1)

Gregbee

01-01-06, 03:35 PM

I am looking at importing children's wear (up market) into Thailand. Most of the European labels on sale here are produced here, but our brands will be imported. I cannot find the duty applicable-as some info says 10% and others 40%!. Also, I have heard worrying stories about getting cartons through customs. Does anyone have experience of this- if you use a broker, is the process straghtforward?

mrtfreak

02-12-06, 12:35 PM

I was wondering if there were any official figures for Thailand's employment/unemployment levels, the average wage and if there was government intervention in employment (eg. minimum number of foreigners per company,etc). OR if anyone would have any resources where I could find out.

GWR

08-12-06, 11:45 AM

http://web.nso.go.th/eng/stat/stat.htm

http://www.angkor.com/2bangkok/2bangkok/forum/showthread.php?p=12592#post12592

Baton Rouge

29-12-06, 12:10 PM

Bt. 1 million is a lot of dosh to shell out just to find that your Forbes 500 tablemate is a boring bastard. The best form of meal is always one in which guests are banned. There's nothing worse than formality when it comes to eating. And let's face it, it's practically par for the course that a successful person is a tedious monomaniac. It's the price they pay for their commitment to acquiring more luncheon tokens than they will ever need.
http://www.nationmultimedia.com/2006/12/29/headlines/headlines_30022828.php
Join city's most exclusive meal for Bt1 million

There's no need to fly to the US to shake hands with the Forbes 500 super-rich as some of them are heading here and are ready to meet anyone who can afford a Bt1 million dinner.

Le Bua, Bangkok's ultra-luxury hotel on Silom Road, is organising a Bt1-million-per-plate dinner banquet on February 10 for some of the world's wealthiest corporate and individual clients.

Deepak Ohri, managing director of the Thai-owned 198-room hotel, part of the 67-floor State Tower, said yesterday that 40 seats would be available for the dinner event and 25 are already taken.

The dinner would be served at the Sirocco, Distil, Mezzaluna, Breeze and Cafe Mozu outlets, all located at The Dome on the roof of the tower.

"We have also reserved 10 seats for invited VIPs so there are now five seats left," Ohri said, adding that the US$25,000 price is probably the highest ever for a commercial dinner in Asia-Pacific.

Indian-born Ohri said multinational millionaires who have booked a place include those from the top echelons of Microsoft, Exxon-Mobil and Standard Chartered Bank.

"They're all in the Forbes 500.

From Microsoft, it's not Bill Gates, but those at the very top level of management. There are also several private bankers and industrialists.

"It's expensive because of the very fine food and wine lists. We've got Michelin-star chefs to cook the seven-course dinner. For the wine list, we've stocked 1961-vintage wines, which are the most expensive part of the dinner event," he said.

Recent research shows that there are about 8.5 million millionaires worldwide, each spending an average of more than $200,000 on hotel and other events annually, he said.

Well-heeled clients are what Deepak aims to attract to Thailand to raise the country's tourism profile. There are many fine first-class hotels and incomparable hospitality here, but services are cheaper than in many countries.

Business Reporters

The Nation

GWR

29-01-07, 10:29 PM

All too often, local media forget to contrast new services with existing services. So we get a plethora of technical details, but receive very little idea as to what improvements the customer can expect in future: -

Electronic payments offer flexibility

By April, people will find more flexibility when making all types of payments, thanks to the launch of the National Inter-bank Transaction-Management Exchange (National ITMX) by the National ITMX Company that provides systems for inter-bank transaction and charge management for the commercial banks.

Teera Apaiwong, president of National ITMX, said that under the plan, the services will be divided into three phases of commercial launch. It is expected all three phases will be completed and ready to provide services by the end of this year.

The first phase is scheduled to launch in April. The initial service will be SMART (short for small and medium amount retail transaction) Credit and Debit. It will allow people to make direct debits across the banks. A direct debit creates several new payment services such as direct payment of electricity and water bills.

The new service, totally built via ITMX, is to provide transfer and payment services across banks via telephone or over the Internet.

The second phase is to launch Risk Management services, designed with financial and operational risk protection mechanisms and to consider the availability of security infrastructure.

The last phase will eventually transform the exiting ATM Pool to run over the new ITMX infrastructure. It will facilitate fast and safe transactions across banks via cross-payment services including bank counters, customer deposit machines, ATMs, mobile and fixed phones, and the Internet.

The new ITMX system is designed to build a national infrastructure and standard for inter-bank transactions. Its services come under the Bank of Thailand's regulations.

The company provides a wider range of electronic-payment types across the banks as well as across payment devices and other places of payment, both off line and online.

The ITMX service will be available to 19 banks that operate in the country.

All services include deposit-withdraw and balance checking across banks via ATMs, transfers across banks via ATMs and bank counters, the new SMART, transfers and payments across banks via telephone, over the Internet, via mobile phone, and international withdrawals and payments across banks via ATMs.

The company was set up last year by changing the name from ATM Pool and increasing the registered capital to Bt50 million.

"ITMX is the foundation for the next generation of electronic-payment channels that is designed to support multiple methods of payment across banks, both locally and internationally, without the boundaries of place and time," said Teera. It is expected that once ITMX is launched, it will reduce financial transactions in the form of paper-based cheques as well extend the electronic-payment system and increase channels for customers.

Asina Pornwasin
The Nation

http://www.nationmultimedia.com/2007/01/30/byteline/byteline_30025432.php

GWR

18-06-07, 02:48 PM

This is something I'd like others to comment on:

Analysis: Awaiting another disaster?

By Matthew Benjamin and Shamim Adam
Kuala Lumpur (Bloomberg)

In their efforts to forestall "another 1997" financial crisis, Asian governments may have only traded one set of risks for another, with artificially low currencies, a record $3.4 trillion in reserves and export-dependent economies.

The remedies embraced by Thailand and other countries to prevent a recurrence of the 1997 collapse may have only traded one set of risks for another. Their "never again" determination has led them to new extremes.

"The currency and financial policies in Asia today risk planting the seeds of a new and different financial crisis," says Nouriel Roubini, 49, chairman of Roubini Global Economics and a professor at New York University's Stern School of Business. "It's a dangerous system both for these countries and for the global economy."

In emerging markets, central banks and governments are grappling with risks including inflation, asset bubbles and vulnerability to a US slowdown. For investors, meanwhile, "risk has been underpriced," Roubini says, with the result that "this can have negative effects on bonds, currencies and equity markets."

Thailand sparked the Asian crisis in July 1997 when it devalued the baht in an effort to shore up its faltering economy, abandoning a costly policy of pegging the currency to the US dollar.

That set off a chain reaction that turned Asia's investment and real estate boom into a bust, leading to a stampede by foreign investors rushing to pull money out. The crisis worsened as foreign exchange reserves proved insufficient to prevent the region's currencies from plummeting.

Emerging markets have made some progress toward avoiding a similar catastrophe. Central banks are more independent, government debt has declined, financial systems are stronger and current account balances are generally in surplus.

Economies from Russia to Brazil are booming while Indonesia, Thailand and Malaysia have earned higher credit ratings. South Korea, on the brink of default 10 years ago, recorded its 16th consecutive quarter of growth in the first three months of this year.

"A lot of lessons have been learned," says financier George Soros, whom Malaysia's then-Prime Minister Mahathir Mohamad blamed for worsening the 1997 crisis through currency speculation. Soros, 76, told reporters June 5 in Sao Paulo that many economies "are incomparably better than they were 10 years ago." Still, he said, some governments have learned "the wrong lesson," citing price controls in Argentina and "very substantial reserves" in Brazil.

Anwar Ibrahim, Malaysia's finance minister during the crisis, says "fundamental flaws have not been corrected." Currencies are still inflexible, showing that "we are still in a state of denial," he says.

As investors fled Asia after Thailand's 1997 devaluation, they set off a plunge in other currencies that had previously been propped up through fixed exchange rate regimes. Indonesia's rupiah fell 57 percent against the US dollar, causing companies to buckle under $80 billion in foreign debt and leading to riots in Jakarta.

Thailand's baht dropped 45 percent, and its stock market fell 75 percent. South Korea's won lost half its value, and its economy collapsed. Malaysia's ringgit fell 35 percent.

Hong Kong, China, Singapore, Taiwan and the Philippines also suffered. The crisis eventually spread to South America and to Russia, which defaulted on $40 billion of debt.

The IMF's Advice

Malaysia's Anwar says many governments still haven't followed the International Monetary Fund's advice to adopt flexible exchange rates that can help dissipate financial pressures.

"Fixed currencies are still a problem in the region, and they're always politically motivated," says Anwar, 59, who was fired in 1998 when Mahathir imposed capital controls.

China, Hong Kong, Taiwan, Malaysia, Singapore, Thailand, India, Russia and Argentina still manage their currencies, generally maintaining artificially low levels. South Korea and Indonesia allow more flexibility.

"They're all managed floats," says Stephen Jen, global head of currency research for Morgan Stanley in London. "For the most part, they're more managed than float."

Cheap currencies have led to excessive monetary and credit growth worldwide, creating asset bubbles in South Korea and China and inflating consumer prices in India, Russia and Argentina.

Credit Restrictions

Policy makers in Asia are adding restrictions on lending and increasing taxes on share trades to combat bubbles that have made Hong Kong rents the world's costliest and Chinese stocks twice as expensive as others in the region.

In December the Bank of Thailand imposed penalties on investments from overseas held less than a year in an effort to keep speculators from driving up the baht. This triggered the biggest one-day drop in 16 years for Thailand's SET stock index, which plunged 15 percent on Dec. 19.

Undervalued currencies have also helped make Asia's emerging economies almost twice as reliant on exports as the rest of the world. "A sharp slowdown in global demand would have major ripple effects," says Robert Subbaraman, Lehman Brothers' Hong Kong-based chief economist for Asia excluding Japan.

Meanwhile, the buildup of foreign exchange reserves, part of the IMF's prescription for avoiding a repeat of the 1997 crisis, has exceeded all expectations.

'Overlearned'

"Some lessons were overlearned," says Ted Truman, 66, a senior fellow at the Peterson Institute for International Economics in Washington.

South Korea's reserves, depleted in its unsuccessful defense of the won during the crisis, are now the world's fifth largest, burgeoning to $250 billion from $7 billion in November 1997. China added $1 million a minute to its reserves in the first quarter of this year and now holds $1.2 trillion. India, Japan, Taiwan and Russia hold more than $200 billion each.

Truman and other economists say the massive reserves contribute to excess liquidity.

"It may no longer be appropriate to view rising reserves as a source of increasing strength against future volatility," New York Federal Reserve Bank President Timothy Geithner said in Singapore last week. Geithner, 45, was the US Treasury Department's assistant secretary for international affairs during the crisis.

Opportunity Costs

There are opportunity costs to holding excess reserves that might otherwise be invested in infrastructure improvements, health care or higher yielding assets, economists say.

"They're paying an enormous price in terms of standards of living," says Harvard University's Kenneth Rogoff, who was chief IMF economist from 2001 to 2003. "It's as if you bought a $1 million home sitting on the San Andreas Fault and a $3 million insurance policy for it."

What's more, by focusing on exchange rates, governments in emerging economies may overlook other risks, says Stephen Roach, chief global economist at Morgan Stanley, who becomes the firm's Asia chairman this month.

"The next crisis is never the same as the last," he says. "By fixating on the problems that foreshadowed the last crisis, the risk is Asia gets blindsided by another problem."

Link may expire:

http://www.bangkokpost.com/topstories/topstories.php?id=119511

ncr

18-06-07, 05:47 PM

Interesting article as a whole, but the highlighted passage is even more.... intriguing, to say the least.

Lamphun acts as a laboratory for social experiment (http://www.nationmultimedia.com/2007/06/18/national/national_30037141.php) - The Nation, 18 June 2007

Lamphun's Muang district is serving as the laboratory for an ongoing experimental development project to find ways to tackle social problems created by industrial growth. The mushrooming of factories in the area over the past few years make it an ideal site for the study, said Dr Pun-Arj Chairatana, chief researcher for the Public Policy Development Office's Thailand Reform Programme. The study is being conducted in collaboration with the Asia-Pacific Economic Cooperation Centre For Technology Foresight (Apec CTF), which is sponsoring the project.

Muang Lamphun's industrial zone is in tambon Ban Klang, which is on the east bank of the Kuang River. The mostly residential area, which is still quite conservative, is on the west side, in tambon Nai Muang. There is a marked difference between the two areas. In factory-dotted tambon Ban Klang, which has drawn investment of more than Bt66 billion and 64,000 workers over the past two years, the average annual per capita income is Bt62,316 - the highest in the North. Tambon Nai Muang has numerous temples and is the site of an old kingdom 13 centuries ago. Residents here say they see less of their children, who cross the river to work in the factories. Pun-Arj said the problems range from pollution to juvenile delinquency and deteriorating family relations, to women factory workers taking up same-sex relationships. [Huh? Factory work causes homosexuality?] However, lesbianism has been welcomed by some parents, who say they would rather their daughters had relationships with women than with men. :cool:

At a recent workshop, residents also listed problems like frequent flash-floods after the construction of apartment buildings blocked water channels, drug use, addiction to computer games and vice-related crime. Apec CTF director Dr Nares Damrongchai said the "Looking at Lamphun's Future" project would be implemented with measures thought up together with the public and would aim to clear up economic, social and political problems within the next 20 years. The initial results of the project will be seen next month, and they will be analysed for further measures, he added.

Prapat Poocharoen, the mayor of Muang Lamphun Municipality, said the programme has been useful and that he would use the results so far as part of his campaign for re-election next year. Wutthiphong Jaikhor, owner of a building supplies shop, said he was concerned that Lamphun residents now did not care much about each other, and family members had less quality time for each other. "Parents who work in the factories have no time to take care of their children, who then turn to drugs and computer games," he said. He said he wanted a zoning system to separate industrial areas from residential areas and to keep entertainment venues far from homes. Natthaphong Tinakhat, a designer, said he wanted more farmers to be given more training on agriculture and fruit growers to be taught processing methods. Regarding the industrial development, he said all factories should have water treatment facilities and sufficient welfare provisions to keep the workers safe from occupational hazards. Yanawat Khanthawijarn, leader of a local community development group, said he wanted to see more decentralisation of power to local bodies representing the local people, who should also be educated on politics and self-governance. He also wanted to see a mechanism to monitor state employees' performance and conduct.

Mayuree Sukyingcharoenwong

admin

19-06-07, 10:10 PM

A reader asks:
At the moment I am writing my Diploma about the potential market of the newspaper printing industry in the Asian market and the press auxiliaries of newspaper presses. During my research I was finding your website and it sounds very interesting.
Do you know how many printing plants are based in Thailand and where I get
the addresses of this printing plants? Or do you have a list of all printing
companies?
I need this information that I could estimate the market in Thailand.
Unfortunately all websites I found are on Thai. For that reason your answer
is very important for me. Thank you very much for your answer and your help.

GWR

31-07-07, 11:50 AM

Triumph Motorcycles have been making big bike parts on Thailand's Eastern Seaboard for some years:

Thailand aims to become export hub for large cycles
MILAN, July 30 (TNA) -- After clinching a deal in which Triumph Motorcycles decided to invest another Bt3.5 billion in Thailand, the kingdom now aims to become a production and export hub for large-sized motorcycles, said Kosit Panpiemras, deputy prime minister and industry minister.

Mr. Kosit has just concluded five-day visits to Britain and Italy, which began July 25.

In Britain he met Triumph Motorcyles president John Bloor, who agreed to invest an additional Bt3.5 billion in 2008 in Thailand operations for manufacturing parts for large-sized motorcycles.

At present, the company has a plant in Thailand's eastern seaboard province of Rayong.

With the additional investment, the company plans to assemble about 50,000 large-sized motorcycles annually.

Mr. Kosit said he had ordered Satit Chanjavanakul, secretary general of the state-run Board of Investment, to map out plans on promoting investment for large-sized motorcycles with the engine capacity from 500 cc upwards which have a global demand of over 100,000 units annually.

Besides Triumph Motorcycles, two or three major large-sized motorcycle producers may also invest in Thailand, Mr. Kosit said, adding that he expected the investment promotional plan would be completed soon.

Mr. Kosit said he had also held talks with Giorgio Garimberti, operations chief of VM Mortori, Italy's major diesel engine manufacturer, who said that his company was keen to set up a factory in Thailand in 2008, with production starting in the following year. The investment by VM Mortori is around Bt450-900 million. (TNA)-E111

Last Update : 2007-07-30 / 13:39:30 (GMT+7:00)

http://etna.mcot.net/query.php?nid=30777

http://upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Triumph.thruxton.900.arp.750pix.jpg/250px-Triumph.thruxton.900.arp.750pix.jpg

Enjoy:

http://www.triumph.co.uk/

http://en.wikipedia.org/wiki/Triumph_motorcycles

Also enjoy Triumph's longer-established namesake in the local manufacturing sector:

http://www.triumph.com/

Wisarut

04-02-08, 08:47 AM