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Phuket’s new town planning code will radically change island

The Thaiger

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Phuket’s new town planning code will radically change island | The Thaiger

Thailand’s Department of Public Works and Town & Country Planning is finalising sweeping new development regulations for Phuket. The island’s MICE industry is expected to be a big winner from the proposed changes (more below).

In April the draft regulations were issued for public comment and it is expected the new set of rules will come into effect over the next year, pending reviews by the Ministry of Interior.

The biggest change in the regulations will be implementation of a FAR allocation (floor area ratio) to land size that is typically used in urban locations to manage density, according to Bill Barnett from c9hotelworks.com.

“The existing Town & Planning act expires in March 2020 and drafts are circulating for local input, as this is a national framework under the Ministry of the Interior. The shift to a FAR based urban-type zoning and development framework is a logical move and addresses the reality of the island becoming an urbanised entity. It’s certainly a move in the right direction.”

“Expect a rapid escalation of permit applications by developers looking to get in front of the changes over the next few months, though its not yet clear when the final rules will come into effect.”

Meanwhile, Phuket’s MICE industry (meetings, incentives, conferences and exhibitions), are about to get a big infrastructure boost. As south east asia’s most popular holiday island for decades, it has suffered from not being able to host large meetings due to the lack of facilities for anything other than small conferences and events. That’s about to change according to Thapana Boonyapravit, president of the Thai Association for Town Planning.

He notes that the boom is made possible by a new town planning blueprint to regulate land use and infrastructure development.

Controversially, the report includes new developments along the crowded west coast and would allow developers to construct buildings up to 15 storeys high along the coast. And up to 25 storeys high in the centre areas of the island.

But Khun Thapana says that the new town plan provisions could attract up to 300 billion baht of investment for the island.

  • Government plans to spend one billion baht constructing four convention centres, each with a 3,000 pax capacity
  • A MICE district will be constructed near Patong Beach in the next five years
  • Roads to the Airport will be upgraded and new public bus serves added
  • A new Airport would be constructed at a cost of 70 billion baht
  • 280 billion baht budget to construct 70,000 new residential homes

Khun Thapana says that the full implementation of the new town planning blueprint will drive up property prices by two or three times.

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Fish sauce excluded from Thailand’s proposed tax on salty foods

May Taylor

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Fish sauce excluded from Thailand’s proposed tax on salty foods | The Thaiger

PHOTO: Cook’s Illustrated

Thailand’s Excise Department and Public Health Ministry is considering a levy on salty foods in an attempt to tackle the sodium-rich diets of Thai citizens, and the health consequences.

The director general of the Excise Department, Patchara Anuntasilpa says the tax would be calculated based on the amount of salt in a product, with the proposal being sent to Finance Minister Uttama Savanayana by year end.

Fish sauce is a liquid condiment made from fish or krill that have been coated in salt and fermented for up to two years.[1][2]:234 It is used as a staple seasoning in East Asian cuisine and Southeast Asian cuisine, particularly south east Asia and Taiwan. Following widespread recognition of its ability to impart a savoury umami flavor to dishes, it has been embraced globally by chefs and home cooks.

“If the tax is approved, we will allow entrepreneurs one or two years to reduce the salt content and launch a less-salty version of their product.”

The World Health Organisation and the UN both recommend taxing foods with a high salt content, saying increased sodium intake leads to high blood pressure, cancer and kidney and heart disease.

The Nation reports however, that while the proposal is to levy the tax on frozen and canned foods, along with processed items such as instant noodles, seasoning such as fish sauce and snacks like potato chips would be excluded.

The Federation of Thai Industries has pledged to cooperate with the government’s effort to improve the health of Thailand’s citizens, but its head Wisit Limluecha says he is not in favour of taxing popular seasonings, snacks, frozen or instant foods.

“Research has found that these foods represent only 20% of what we eat each day, and everyone has different eating habits, so the better solution would be to advise consumers on how to eat healthily.”

Wisit warns that the tax may damage the country’s competitiveness in the food sector both overseas and in Thailand, where imported products are easily available. He also voices concern that small businesses will suffer if unable to afford ingredient and packaging changes.

SOURCE: The Nation

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500 people own 36% of equity in Thai companies

Greeley Pulitzer

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500 people own 36% of equity in Thai companies | The Thaiger

Roughly 36% of Thailand’s corporate equity is held by just 500 people, highlighting wealth inequality in the Kingdom, according to a study released by the Bank of Thailand’s research institute.

Each of these 500 amass some 3.1 billion baht (102 million USD) per year in company profits, according to the report from the Puey Ungphakorn Institute for Economic Research. In contrast, average yearly household income in Thailand is around 10,000 USD.

A report out this week from the Economic and Business Research Centre for Reform at Thailand’s Rangsit University also pointed to divisive and polarised politics being another root cause of the economic divide.

Thailand’s private sector is dominated by tycoons running sprawling conglomerates. According to the World Bank, the gap between the mega-wealthy and the rest of the Thai population of 69 million is among the many economic challenges for Thailand. According to Bloomberg, the perception of a divide, exacerbated by an economic slowdown, is a major political fault line.

“Magnates arise in Thailand from institutional factors that privilege certain businesses,” said the executive director of PIER, author of the study.

The institute said Thailand needs to promote competitiveness to reduce profits from monopoly power and bolster entrepreneurship to create a more equitable distribution of corporate wealth.

The research is based on analysis of 2017 Commerce Ministry data on the 2.1 million shareholders in Thai firms, and was funded by the University of California San Diego.

SOURCE: Bangkok Post

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Thai Airways must modify rehabilitation plan to survive: Airline President

The Thaiger & The Nation

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Thai Airways must modify rehabilitation plan to survive: Airline President | The Thaiger

PHOTO: gta5-mods.com

“Thai Airways will have to modify its rehabilitation plans to survive in the face of tight competition.” This frank admission by the airline’s president Sumet Damrongchaith.

The national carrier is now carrying a total debt of over 2.45 billion baht and losses of more than 20 billion, despite being able to reduce its debts by 48 billion baht over the past five years.

Sumet says the first step will be to restructure the airline’s management and finances as well as reconsider its plan to spend 1.5 billion baht on 38 new aircraft. He admits the biggest problem is that Thai Airways has low capital but a high debt-to-equity ratio of eight times.

In order to maintain its competitiveness, the carrier will have to reduce its debts versus assets and boost its working capital with support from the ministries of Transport and Finance. Hence, it plans to borrow approximately 3.2 billion baht in fiscal 2020 in line with the budget limit set by the Office of Public Debt Management.

This loan will be taken to support the airline’s investments as well as for its working capital, to update equipment and maintain existing aircraft, but will not be used to repay old debts.

The Nation also reports that the airline is also concerned about maintaining its liquidity because at the end of June this year, its revolving credit line stood at 13.4% of the total revenue forecast for 2019.

Sumet admits that, though the original rehabilitation plan has a set framework, the situation has now changed due to the appreciation of the baht, so in order to achieve goals, the work method has to be redesigned, such as finding a way to procure more passengers.

“We are now in the process of analysing new markets.”

Meanwhile, Thai Aiways’ board chairman Aek-Niti Nitithan-Praphas says the board is reconsidering plans to procure a new fleet taking into consideration the state of the global and domestic economies as well as the US-China trade war.

“The growth of the tourism industry and the airlines’ financial status needs to be reviewed in line with strong competition and routes that are no longer popular. It’s better to carefully revise the plan instead of exposing the airline to greater risk. The target should be reduce expenses by 20%.”

Meanwhile, Thai Airways aims to boost the sale of tickets, find ways of increasing online shopping of duty-free goods and reducing unnecessary expenses by 10%without affecting the quality of service in the last three months of 2019.

The airline is also negotiating the option of cutting down overtime expenses and is looking into curbing losses incurred by it’s semi-budget offshoot Thai Smile by increasing its flying hours to 10.5 hours daily. These steps are expected to help the airline reach breakeven point in the short term.

The airline is also considering long-term goals such roping in more passengers by offering greater benefits to Royal Orchid Plus members, focusing on digital marketing, retiring non-performing assets as well as increasing revenue from related businesses such as kitchens and aircraft repair centres.

SOURCE: The Nation

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