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Tag: Thailand

  • Malaysia, Indonesia & Thailand to shore up rubber price

    Malaysia, Indonesia & Thailand to shore up rubber price

    Asia’s top rubber producers have agreed to cut exports by 615,000 tonnes for six months from March, moving to lift prices that have tumbled to their lowest since the global financial crisis amid excess supply.

    Benchmark rubber futures in Singapore and Japan rallied 2-3% on the news. The benchmarks sank in January to their lowest levels since end-2008 to early 2009.

    Thailand, Indonesia and Malaysia, which produce nearly 70% of the world’s natural rubber, said in a joint statement that the move was to address a decline in rubber prices which has had “a direct effect on the income of rubber smallholders in our three countries.”

    Thailand will cut exports by 324,000 tonnes, Indonesia by 238,740 tonnes and Malaysia by 52,260 tonnes, according to a statement from the International Tripartite Rubber Council (ITRC), which groups the three producers.

    The total cuts account for nearly 6% of global natural rubber output.

    “The three countries’ ministers believe that cutting exports and boosting domestic use of rubber will drive up prices and fix the price slump, making prices fair for rubber farmers,” Thailand’s agriculture ministry said in a statement.

    Previous efforts by major rubber producers to cut exports or output have only had a fleeting impact on prices amid a slowdown in top rubber importer China. In 2014, the ITRC members also agreed to cut exports to curb excess supply.

    Before that, they collectively cut shipments by 300,000 tonnes in 2012-13, or roughly 3% of 2012 global output. The intervention only briefly supported prices and Indonesia called for the pact to be discontinued.

    Besides cutting exports, the three countries today also agreed to increase domestic consumption of rubber – including for road and railway construction.

    “We are optimistic with joint implementation of these measures, rubber price will recover and continue to be fair and remunerative to all smallholders and other stakeholders in the natural rubber industry,” the ITRC said in the statement.

    Thailand, the world’s top rubber producer and exporter, will cut its rubber exports by 50% starting March, said the Rubber Authority of Thailand.

    “The three countries will cooperate in cutting exports by 615,000 tonnes from March to August,” said Chao Songarvut, acting director of the Rubber Authority of Thailand, adding that the move was to drive up prices.

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  • Logistics operators intensify e-commerce focus in Thailand and China

    Logistics operators intensify e-commerce focus in Thailand and China

    Global logistics companies continue to pile into the Asia e-commerce market, with Damco launching a China solution and DHL expanding its growing presence in the region deeper into Thailand.

    DHL is building a 32,000 square foot, central distribution center in Bangkok and a network of over 20 depots located throughout Thailand to provide full coverage across the country. To meet increasing business demands, the integrator plans to more than double the number of depots in Thailand by 2017 and expand its fleet primarily in two-wheel vehicles that can operate more efficiently in the traffic situations in Thailand’s major cities.

    “The Thai e-commerce market is expected to more than triple in size to $3.93 billion between now and 2020 and with this investment, we are well positioned to support the growth of e-commerce businesses in Thailand,”  said Thomas Kipp, CEO, DHL eCommerce.

    Only 1.7 percent of total sales in Thailand were obtained from e-commerce, compared to more than 10 percent in China, said Malcolm Monteiro, CEO, Asia Pacific, DHL eCommerce.

    “We see major strategic opportunities for e-commerce growth in Thailand, particularly with the Asean Economic Community which is expected to increase the movement of goods within the region,” Monteiro said.

    “Despite e-commerce already being a billion-dollar sector with extremely rapid adoption, Thailand’s e-commerce share of the retail market is still relatively low compared to other high-growth economies.”

    Damco has focused its latest service offering in China where it is launching an end-to-end e-commerce solution, from inbound goods management and consumer order receipt to final delivery.

    Damon Gu, Damco’s head of supply chain management for Asia, said the large and rapidly growing Chinese market for online shopping was a magnet for both importers and domestic producers.

    “Online shopping events such as China Singles Day are already creating world-beating levels of activity for e-retailers locally in China, as well as globally,” he said. “Discerning Chinese consumers in this highly competitive marketplace expect the highest standards of fulfilment. This new program helps companies to guarantee that level of service.”

    Using its 1,500 local staff and 26 locations in China, Damco will arrange delivery to end-consumers in more than 1,600 Chinese cities.

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  • Suitors for Casino’s Asia assets will have to face off against Thai tycoons

    Suitors for Casino’s Asia assets will have to face off against Thai tycoons

    French retail group Casino’s sale of its Thai and Vietnam units has drawn the eye of Singapore’s Dairy Farm International Holdings and South Korea’s Lotte Shopping but they’ll need punchy bids to go up against deep-pocketed Thai tycoons, bankers said.

    The auction represents a rare opportunity for cashed-up Asian companies to expand into what analysts say are two of Southeast Asia’s most profitable retail markets, but they also warn there is a risk of overpaying, particularly in Thailand where the economy is slowing.

    Central Group, Thailand’s biggest retailer led by tycoon Tos Chirathivat, has pole position as it already owns a quarter of Big C Supercenter Pcl, the nation’s second-largest discount retailer which it founded in 1993.

    Central has said it is keen to buy Casino’s 58.6 percent stake in Thailand’s Big C, worth around $3.1 billion at current market prices, and Casino’s wholly owned unit, Big C Vietnam, which bankers have valued at between $800 million and $1 billion.

    “Whoever is going to buy this will have to pay a high price to get Central out or they will have to co-exist,” said a banking source familiar with the matter.

    A separate banking source said Casino was keen to sell both units to the same bidder.

    In addition to Dairy Farm and Lotte Shopping discussing potential bids with banks, Japanese retail conglomerate Aeon Co Ltd (8267.T) is weighing an offer, the sources said but added it was unlikely to bid aggressively.

    The sources declined to be identified as they were not authorized to speak about the matter.

    Dairy Farm, the second-biggest retailer in Singapore and Hong Kong, and Lotte Shopping, South Korea’s largest department store operator declined to comment. Aeon and Casino also declined to comment.

    The bidder seen most likely to give Central Group a run for its money is Thai business magnate Charoen Sirivadhanabhakdi, who is keen to expand further in retail.

    Berli Jucker Public Co, the listed retail arm of Charoen’s TCC group, has said it is interested in Casino’s Vietnam unit and bankers also expect TCC to make an offer for the Thai unit.

    Asked whether TCC would bid for the Thai business, Charoen told Reuters in Bangkok on Wednesday: “Not yet, we haven’t done anything. We need to have a look first.”

    PREMIUMS NEEDED

    The first source said that to outbid Central for the Thai asset, other suitors would likely have to pay 270 baht per share, a 14 percent premium to Thursday’s close that would value Casino’s stake at $3.6 billion.

    Bangkok-based AEC Securities said in a note to clients it expects bidders to pay 238-298 baht per share. Thailand’s Big C shares have jumped as much as 17 percent since Casino said on Jan. 15 it has received expressions of interest..

    Casino’s surprise plans to sell the Thai unit came after a December report by short-seller Muddy Waters that said the French firm was “dangerously leveraged”, prompting its worst stock slide in seven years. The Vietnam unit sale had been planned beforehand.

    Preliminary bids for the Thai unit, which had 734 stores including 125 hypermarkets at the end of 2015, are due on Feb. 5. Bids for the Vietnam unit are due in late February, one source said.

    Thailand’s retail market is worth $93 billion annually, according to research firm Euromonitor. The sector trades at a price-to-earnings ratio of 24, the highest in Southeast Asia, and is no stranger to rich deals.

    In 2013, CP All, backed by Thailand’s richest man Dhanin Chearavanont, bought cash-and-carry wholesaler Siam Makro for $6.6 billion, valuing it at 53 times earnings in Asia’s most expensive consumer sector deal by multiple.

  • Uber Tests Cash Option For Bangkok

    Uber Tests Cash Option For Bangkok

    Thailand has become the latest country where Uber taxi drivers can take cash from a passenger instead of a credit card.

    Uber tested its cash payment scheme in Bangkok on Wednesday as an alternative to the credit card option.

    Passengers have to tell the firm before the ride about their cash option and pay the driver at the end of the trip, it said on the website.

    “Bangkok, as a global business, cultural and tourist hub with a sophisticated rider and driver base is the right environment to conduct this cash experiment,” it said.

    Thailand follows nine other countries where cash is a choice for its passengers, Uber spokesman Karun Arya said. The other countries are India, Kenya, Nigeria, Saudi Arabia, Egypt, Peru, Vietnam, the Philippines and Indonesia.

    The test run is being held only in Bangkok and does not cover all customers. But the firm said it planned to expand the option for more passengers in the future.

    Uber was launched in Thailand in 2014. Bangkok is regarded as one of the three fastest-growing cities in Southeast Asia for the firm.

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  • Thailand’s airports set new passenger records

    Thailand’s airports set new passenger records

    Airports of Thailand has reported 2015 calendar year ending international passenger traffic of $62.5m passengers across all six airports. Added together with the 47.3m domestic passengers last year, this set a new record of nearly 110m passengers for the 12-month period according to Airports of Thailand (AOT).

    All but one of the six airports reported positive international numbers, with Suvarnabhumi Airport in Bangkok generating a +15.93% increase to 44,218,785, followed by Don Mueang with 9,170,681 (+53.10%); Phuket with +8.25% to 6,955,139; Chiang Mai +44.16% to 1,170,681; and Hat Yai +6.57% to 234,017 and Chiang Rai -8.46% to 26,715.

    All six airports were also in positive territory in terms of domestic passenger numbers, with Don Mueang leading the rest up 35.85% to 21.2m (see table for full list).

    Suvarnabhumi New Year

    Thai airports traffic 2015 copy

    Above: Suvarnabhumi International Airport, Bangkok. (Data source: Airports of Thailand).

    Meanwhile, in the last declaration of AOT’s financial results dated 27 November 2015, the publicly listed AOT reported a rise of more than 20% in operating performance for the year ended September 30 2015.

    Reported net profits were up by 53%, thanks to a 15.97% increase in flights and a 21.94% rise in passengers in this quoted period. This, in turn, resulted in aeronautical revenues increasing by 18.87% and concession revenues rising by 19.99%.

    AOT’s exclusive duty free concessionaire is the King Power International Group, which operates airport shops at Suvarnabhumi, Don Mueang, Phuket and Chiang Mai.

  • Retail forex broker FBS opens third office in Thailand

    Retail forex broker FBS opens third office in Thailand

    The retail forex broker FBS announced the opening of its third office in Thailand. It is the second office of the company in the country’s capital Bangkok. The first one was opened in July 2015. Since October 2015 the broker also has an office in the city of Chiang Mai.

    FBS is present in more than 120 countries and has 13 international offices.

    Besides the usual business activities with current and new clients and partners, FBS is planning workshops for beginner and professional traders, hosted by Forex experts. It reminds its customers that it provides 24/5 customer support and consultation in Thai language.

    FBS was established in 2009. It is regulated by the international Financial Services Commission (IFSC) in Belize and the Russian self-regulation organisation Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN).

    FBS offers trading in the major currency pairs, metals and CFDs. The minimum deposit is $1 and the leverage is up to 1:2000. The broker also offers spreads from 0 pips.

  • Bangkok Neon Fest market 2016

    Bangkok Neon Fest market 2016

    Eating, drinking and shopping along with live music – that is what to expect at Bangkok’s unofficial container festival, Neon Fest Market BKK, in the heart of the Thai capital.

    Neon Fest Bangkok 2

    With 931 booths, the new container market will feature concerts by Thai acts Lipta, Nakarin “Pang” Kingsak, Singto Namchok and Tattoo Colour, as well as surprise events.

    Neon Fest Bangkok 1

     

    Covering more than 9000 sqm of the Lumpini area, the neon-lit flea market will be open Thursdays to Sundays from February 11 until July 1. It includes food trucks as well as fashion and craft stalls.

    Next to MRT Lumpini station, the Bangkok event will be in Lumpini Square, which previously housed the Suan-Lum Night Bazaar. Entry is free.

    Neon Fest Bangkok copy

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  • Masan Group solidifies strategic partnership with Singha

    Masan Group solidifies strategic partnership with Singha

    Masan Group Corporation closed the first round of funding of its strategic partnership with Singha Asia Holding last month.

    Singha contributed US$650 million (Bt23.2 billion), comprising $50 million for a 33.3-per-cent equity interest in Masan Brewery and $600 million for a 14.3-per-cent equity interest in Masan Consumer Holdings.

    Proceeds of the $600-million into Masan Consumer Holdings facilitated the purchase of additional shares in Masan Consumer, the non-alcoholic branded food and beverage platform of Masan.

    As a result, Masan Consumer Holdings’ direct ownership in Masan Consumer increased from 77.8 per cent to 96.7 per cent.

    The first closing is a strong validation of Masan’s strategic value, platform and growth potential as the company further develops its business not only in Vietnam but inland Asean alongside Singha.

    Closing of the remaining $450-million increase in Singha’s equity interests in Masan Consumer Holdings to 25 per cent is subject to customary regulatory and corporate approvals. 

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  • Fitch Thailands Liberalisation of NGV Price Positive for Industry

    Fitch Thailands Liberalisation of NGV Price Positive for Industry

    Thailand’s plan to remove the cap on the retail price of natural gas for vehicles (NGV) is positive for Thailand’s oil and gas sector. Prices of all types of fuel in Thailand will reflect actual costs once the latest NGV reforms are effective, after liquefied petroleum gas (LPG) price reforms were implemented in February 2015 and an NGV price hike was imposed in 4Q14.

    The further reduction of losses from NGV sales, as a consequence of the latest reforms, is positive for PTT Public Company Limited’s (PTT, BBB+/AAA(tha)/Stable) cash generation. PTT’s profits have been significantly reduced by the weaknesses in its core upstream division amid low oil prices.

    Thailand’s Energy Policy Administrative Committee has said that the NGV retail prices will be liberalised in 2016. The NGV price will be set based on the natural gas cost in Thailand (pool gas price). Prices will be updated on a monthly basis. However, the NGV retail price will be capped at THB13.5 per kilogram (kg) from 21 January to 15 July 2016, after which the cap will be lifted. The NGV price for public vehicles, which account for only around 25% of total NGV volume consumed in Thailand, will continue to remain unchanged at THB10 per kg. However, the government is in the process of reviewing the law to let the country’s Oil Fund subsidise this cap on the NGV price for public vehicles.

    PTT incurred heavy losses in its NGV business in 2011-2014. The company reported negative EBITDA of THB20.0bn in 2014 (compared with total consolidated EBITDA of THB251.0bn for the year) and THB8.3bn in 9M15. The smaller EBITDA loss in 9M15 was due mainly to the increase in the NGV retail price in 4Q14. We expect the losses to narrow substantially in 2016.

    Demand for NGV in Thailand has been historically distorted by the regulated pricing – particularly during periods of high oil prices, due to its low fixed retail price, resulting in large losses for operators like PTT. Demand for NGV increased substantially during 2011-2013, but growth moderated to 3% in 2014 when the NGV retail price was increased. The increase in NGV retail price plus the lower refined oil prices have sapped demand for NGV in 2015. NGV consumption for 9M15 decreased by about 2% yoy, while consumption of gasoline and diesel increased by 13% yoy and 3% yoy, respectively. A similar trend was observed for LPG after prices were reformed in the beginning of 2015. LPG consumption for 9M15 dropped by 12% yoy.

     

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  • Home Purchasing Tips: What to Look for in a Townhouse

    Home Purchasing Tips: What to Look for in a Townhouse

    You’ve reached a point in your life where you are now thinking about buying a property that you can live in well into the conceivable future. After a few days of internal debate, you believe that a townhouse in the city would be an adequate purchase since you don’t really need a lot of space and you want to be close to where you work and the different malls. However, before you start visiting DD Property and typing in “townhouse” in the search bar, there are several different factors that you need to take into consideration.

    What Can You Reasonably Afford?

    Before you even start looking for a townhouse, you need to determine what sort of payment scheme you would be able to afford in the long term. For example, if you make 35,000 baht per month yet the payments for the house amount to 30,000 baht per month, this just leaves you with 5,000 baht which is far too small to be able to buy enough food for the rest of the month, this doesn’t even take into consideration other expenses such as electricity, water, etc.

    As such, it is highly advisable that you contact the bank that you have an account with, determine how much money you can reasonably borrow for a home purchase loan and examine the interest rates and the number of years to pay a particular loan has. While it might be tempting to pick loans that allow you to pay the entire amount within 20 years, these often have extremely high rates of interest. It is advisable that you select loan terms that allow you to pay the entire amount in 10 years with stipulations that allow you to increase the amount you pay in order to reduce the interest rates.

    Once you have a budget outlined based on the loan terms that were presented, that’s when you can begin searching since, at this point, you know what you can afford.

    Examining Potential Locations

    Another factor is the general location that you want to start living in and its proximity to different services. Just because a townhouse may seem affordable in an online listing doesn’t ensure that it is located in an area that is actually nice. The value of land tends to increase significantly the greater its proximity to certain services and locations such as malls, hospitals or business centers.

    This has a corresponding impact on the price of the townhouse itself resulting in situations where two townhouses are exactly alike yet one costs two times more because it is located a short walk away from a mall. While it is tempting to get a townhouse close to where you work, since this helps to cut down on the amount of time you spend commuting, you have to ask yourself whether you’re going to be working for the same company 5 years down the line.

    If not, then your purchase of a townhouse in that location would be a complete waste since the office of the new company that you would work for could be located much farther away. The best method of selecting a good location is to consider which areas you are familiar with, which locations you frequent for fun (i.e. which malls, bars, etc.) and make your choice based on these areas. You should not choose a location just because it’s close to where you work, you should choose based on where you will be spending most of your time when you’re not at work and where you can relax.

    Gated Community or Not?

    The last decision you should make is to determine whether you want to purchase a townhouse in a gated community or not. Within Thailand, gated communities have become increasingly popular over the years due to the amount of crime within the city. With their amenities and security, gated communities seem to be an ideal choice; however, there are some factors that do detract from their appeal.

    One of the first issues is connected to the monthly association dues that you have to pay. While on the surface this may seem to be reasonable, you have to consider that the amount paid often reaches 3,000 baht or more a month which is an additional added cost on top of the amount that you will be paying the bank for the loan. Not only that, the price of townhouses within gated communities is far higher than those that are located outside of them.

    Conclusion

    Once you have gone over the steps outline in this article, that is when you can start searching for a townhouse online since at this point you will know what you can afford, where you want it and whether or not a gated community appeals to you.

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  • Lalamove delivers good luck during Chinese New Year

    Lalamove delivers good luck during Chinese New Year

    Hong Kong based logistics app provider, lalamove is going bananas over the Year of the Monkey with delivery discounts for new and existing customers in Thailand. The number eight symbolizes good luck and prosperity in Chinese culture and lalamove is bringing eight days of delivery discounts leading up to Chinese New Year.

    From today, Monday, February 1st until Monday, 8th February, 2016, inclusive, first-time lalamove customers are being gifted with a good-fortune THB 88 discount off their first delivery fee.

    To claim their Chinese New Year gift, newbie customers simply download the free android and iOS app and enter the promo code: CNY88 while making the booking.

    Loyalty is being rewarded by lalamove too, with free credit for lucky customers who already use the 24-7 delivery service. The first 100 lalamove customers who request eight deliveries in one day, during the promotion period, will be gifted with a THB 200 delivery credit for that day.

    2653554c-6a5b-4849-a5e2-727f2137dbe6

    The reliable Bangkok-wide express courier and delivery service is expecting greater demand over the Chinese festive period and its fleet is ready for a prosperous new year. Businesses and individuals find lalamove services an ideal way to send special gifts to corporate customers and partners, as well as good wishes, wealth and happiness for the future to family and friends during the week-long Chinese New Year celebrations.

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  • The Crystal opens new mall ‘Crystal Veranda’ behind its old mall

    The Crystal opens new mall ‘Crystal Veranda’ behind its old mall

    The Crystal, the community mall near the Ramintra expressway, has just opened a new mall “Crystal Veranda” right behind it on Friday, because why not?

    Following the opening of the first mall which consists mostly of restaurants, the new Crystal Veranda sets to serve suburban customers with high purchasing power. It features a SF cinema, Fitness First (with the best view, they said) and its own children’s playground, along with a flagship Lego store.

    Taking over 25,000 sq m of space, the THB6 billion mall was built under the concept of “Five Facets of Crystal”: fun, food, fitness, fashion, and the “Full of Fascination” — which means a luxurious lobby lounge and Italian marble bathrooms.

    For food, there are the familiar franchise restaurants missing from the old mall including Dean & Deluca, Peppina, Coffee Bean by Dao, Water Library, Wine Connection, and another Starbucks.

    There may be a little something special for fashion lovers at the Crystal Boutique Store, supposedly the first ever store in Thailand to incorporate clothing and accessories from both Thai and international designers in one place including Michael Kors, ARAMIS, DKNY, Tommy Hilfiger and Tory Burch.

    As expected, the mall was already crowded when it opened on Saturday. Obviously, it drew some customers from Central Eastville, the new mall that opened in November and is located only five kilometers away.

    central-east-ville

  • Thais battle over limited Adidas trainers

    Thais battle over limited Adidas trainers

    One person fainted and a shop door was damaged after hundreds of Adidas fans tried to push into its Siam Center store on Saturday morning to get their hands on the limited NMD R1 sneakers.

    The photos and videos, which went viral over the weekend, show Adidas fans crowding in front of the Siam Center store as the employees desperately yelled at customers to step away and refused to open the doors.

    adidas3

    Some of them had reportedly camped out in front of Siam Center overnight as the store only had 51 pairs of NMD R1 in stock.

    One customer at the front reportedly fainted as the shop door was damaged. On the Adidas Facebook page, some users also left comments that they had seen a few people getting injured in the mad event.

    Some customers had their shirts ripped, others had their eye glasses broken, and some even lost their shoes in the scuffle.

    The shoes cost THB6,990.

    “We’re not gonna sell them today! Please don’t push forward. Our shop is now damaged. We can’t open the shop now!” she continued.

    The chaos ended with the store refusing to open, likely to prevent people from stomping each other to death.

    adidas2

    The shop decided it would choose who could buy the shoes by drawing lots. It is unclear if the lucky draw has taken place yet.

    The NMD R1, or “Nomad,” is described as a “gem of the Adidas design team,” combining design and functionalities in its three models Micro Pacer, Rising Star and Boston Super.

    We admit, the shoes are pretty sexy.

    Adidas Thailand has not issued an official statement after several fans went home disappointed. It only replied to angry comments on its Facebook page apologizing for the “inconvenience.”

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  • Bangkok gets set for Chinese New Year

    Bangkok gets set for Chinese New Year

    Dig out your red clothes, hang up paper lanterns and pick up some firecrackers — Chinese New Year is returning to Bangkok.

    The biggest celebrations will take place on Yaowarat Road in the heart of Chinatown, with cultural displays, dance and musical performances to usher in the Year of the Monkey.

    Kicking off on Feb. 7, the Chinatown festivities will also feature lantern decorations, dragon parades and lion dances, street stalls selling Chinese cuisine and souvenirs, and entertainment from famous artists, including troupes and performers from China.

    Visanu Jaroensilp, Tourism Authority of Thailand (TAT) deputy governor for Tourism Products and Business said: “Thailand’s celebrations to mark the 2016 Chinese New Year will be even more special, as this is a significant year for the country. 

    “This year marks the 41st year of Sino-Thai diplomatic relations, and the 12th anniversary of cooperation between TAT and the Chinese Ministry of Culture in co-hosting the Chinese New Year celebrations in Thailand.”

    TAT estimates a boost in tourism revenue from the celebrations,  with about 1.01 million international tourists are expected to visit from Feb. 6-14. 

    Of those vistorss, an estimated 476,000 are expected to come from countries with Chinese communities including China, Hong Kong, Taiwan, Singapore and Malaysia.

    For more details on Chinese New Year celebrations throughout the country, visit the TAT website.

  • Thai Airways offers discount fares for couples

    Thai Airways offers discount fares for couples

    Lovebirds can fly away on the cheap as Thai Airways is offering discount fares for couples to mark Valentine’s Day.

    The promotional fares are being offered for couples traveling together in economy class during Feb.1- July 31.

    The routes include round-trip tickets from Bangkok to Vietnam, Hong Kong, Singapore, South Korea, China, Japan, Australia, London, and Paris.

    Check promotion details on the Thai Airways website.