Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
-
Sponsored Limited-time deal: Save 20% on Cigna's expat health plans forever
Starting a new life abroad is exciting—new culture, new lifestyle, and new chances to grow. But living far from home also means taking steps to protect your health in unfamiliar surroundings. Without the right coverage, even small health issues can...
-
Phuket Business: Makro – now bigger and better
PHUKET: The newly renovated Makro Phuket has reopened its doors, announcing that it is better equipped to meet the cooking and catering needs of local hotels, restaurants and cafés (HoReCa).With an emphasis on enhancing the capabilities of businesses to maintain international standards, the membership-based wholesaler has increased the quantity and diversity of its consumer products, which include both fresh and…
-
Phuket Business: Rebalancing your stock portfolio
PHUKET: One thing you should do at least once each year as an investor, is re-balance your investment portfolio. I have come across many people who put together a good portfolio, but then, because of not re-balancing, have rode many of their best holdings up and back down. Simultaneously, they are under-invested on holdings that have their best returns many…
-
Phuket Business: New trade records set for the island
PHUKET: The Phuket Customs House reported another record-breaking year for international trade, with the island’s surplus of exports over imports in 2012 peaking at 11.4 billion baht, a 10% annual jump. According to Phuket Customs’ receipts for the 2012 Thailand Government fiscal year (October 2011 – September 2012), the value of Phuket’s exports reached a new milestone of 13.5bn baht,…
-
Phuket Business: Krabi marina to steam ahead
PHUKET: Two months ahead of Krabi Boat Lagoon’s (KBL) first anniversary, the owners of the Thai Andaman coastal province’s only full-service, full-facility marina, remain optimistic about the region’s tourism, hospitality and boating future. Speaking to the Phuket Gazette at KBL’s 18-year-old brand-parent Phuket Boat Lagoon (PBL), Sriya Yongsakul, the deputy managing director of both marinas, affirmed that all objectives for…
-
Phuket Business: Food and energy inflation soaring
PHUKET: Once again, raw data from the Commerce Ministry has affirmed that the South, and particularly Phuket, continues to be “hotter” – in terms of the cost of living – than elsewhere in the Kingdom. The Phuket Commerce Office, in conjunction with the Commerce Ministry’s Bureau of Trade and Economic Indices, recently published the Provincial Consumer Price Index (CPI-P) for…
-
Phuket Business: Why the island continues to buck recession
PHUKET: There is no question that Phuket over much of the last four years has recovered from global recession. However, what is more noticeable is how resilient it has been in terms of tourism, despite a global financial meltdown and political instability on a national level. This resilience allows Phuket to grow while other tourism areas of the world are…
-
Phuket Investor: Insure your stock holdings
PHUKET: Some readers of the Phuket Gazette who have stock market investments may feel I ignore them, because of a personal bias against equity investments right now. For those of you who feel you have a knack for choosing good companies, or would like to participate in any upside in the broad markets, but would like to limit your exposure,…
-
Phuket Business: Identifying island identity
PHUKET: The American Chamber of Commerce teamed up with the Phuket PR Network to present a fascinating and most entertaining culture-preservation lesson recently in Phuket Town. Held at the Blue Elephant restaurant in the heart of historic old-town, the evening was headlined by two heritage preservation experts, who gave captivating lectures about the importance of Phuket’s cultural past, present and…
-
Phuket Business: AirAsia shift to reap Chinese pie
PHUKET: As part of its latest strategic marketing shift, Low Cost Carrier (LCC) AirAsia recently canceled its Phuket flights to Ubon Ratchathani and Bali, topped off with the cancellation last week of its Thailand-Sri Lanka route. Meanwhile, the leading LCC has reinstated its Phuket-Udon Thani route, while revealing additional plans to shift and expand regional focus to the high-volume, high-growth,…
-
Phuket Business: Challenges ahead of ASEAN’s young union
PHUKET: Eliminating tariffs that financially penalize members of ASEAN, is one of the stated long-term goals of the AEC (ASEAN Economic Community).When economic unions were proposed in the United States and Europe, tariffs became a defining factor that would later determine the outcome of those unions.Now that ASEAN has decided to form an economic union – the AEC – in…
-
Phuket Business: Calculating the Sharpe ratio
PHUKET: One statistic you will often see when looking at a fund’s performance is the “Sharpe ratio”. This is an attempt to quantify the excess return for a given level of risk. For example, two funds may both return 12%. If one returns a steady 1% every month while the other swings up and down, common sense and our blood…
-
Phuket Business: HMRC approves Gibraltar
PHUKET: Another surprising development in a year which has seen the UK pension transfer market repeatedly shaken up and placed on its head, Gibraltar announced last recently that it received confirmation from (Her Majesty’s Revenue & Customs) HMRC that it may resume accepting QROPS (Qualifying Recognized Overseas Pension Schemes) transfers. The move is extremely surprising because HMRC is not known…
-
Phuket Investor: Excuse me, what is QE3?
PHUKET: Being a regular on the sun soaked shores of Phuket, watching the many boats sail by on a frequent basis, one may start thinking that QE3 is a new luxury cruise liner replacing the old QE2 that was recently decommissioned. Not the case. In the never ending roller-coaster ride that is the world of finance, this is the latest…
-
Phuket Business: Let’s go back and review the basics
PHUKET: Every once in a while I think it’s good to go back and review the basics. This is especially important in a world where the rate of change keeps increasing. Ever since the financial crisis began we have heard a lot of saber rattling with regards to offshore financial centers, banking secrecy, tax information exchange agreements and so forth.…
-
Phuket Business: New trade surplus milestone achieved
PHUKET: A new milestone was set for Phuket’s international trade last month with the the island’s annual surplus of exports over imports peaking at 11 billion baht – more than 700 million baht clear of last year’s full-year, record figure.According to Phuket Customs’ receipts for the 2012 fiscal year (October 2011 to September 2012), accounting through to the end of…
-
Phuket Business: Pickup sales champ
PHUKET: Reinforced with continuous, cutting-edge improvements to its steering and suspension systems, the Toyota Hilux Vigo Champ looks to retain its stronghold on the domestic pickup market. The Phuket Gazette had the opportunity to join an exclusive tour of Toyota Motor Thailand’s (TMT) Ban Pho production plant recently, gaining a first-hand look at the prized truck’s production and assembly line.…
-
Phuket Business: Smile – you’re on THAI
PHUKET: Last week Prasert Tanhansa, manager of the THAI Airlines (TA) district sales office in Phuket, announced new Phuket routes to be serviced, starting next month, by the national carrier’s new airline, THAI Smile (TS). Here, the Phuket Gazette’s Chaiyot Yongcharoenchai speaks exclusively with Mr Prasert about market positioning, strategies and more. PHUKET GAZETTE: TS has been called by some…
-
Phuket Business: PIMEX 2013 International Boat Show dates announced
PHUKET: THE 10th edition of the Phuket International Boat Show (PIMEX) will be held at the Royal Phuket Marina from March 21-24 next year, the event’s organizers have announced. As one of the region’s largest and most significant marine, boating and yachting exhibitions, the four-day event will showcase leading marine and lifestyle businesses, products and services with a large in-water…
-
Phuket Business: Taking care of your parents
PHUKET: No, the title of this article isn’t a joke. Obviously, there is a big difference in cultural attitudes toward what responsibilities people have when it comes to family. There is no need to discuss this at length. Generally speaking, most Westerners are not under the same pressure to look after their aging family members as most Thais are. But…
-
Phuket Business: Thailand – US trade reviving
PHUKET: More than 700 American companies will have a combined investment of US$40 billion – approximately 1.25 trillion baht – in Thailand by the end of 2012, a business leader recently told the Thai government. The president of the American Chamber of Commerce (AMCHAM), Joe Mannix revealed the figure in a speech given at a thank-you function for the government,…
-
Phuket Business: The tree that bears fruit
PHUKET: At the helm of Anuphas Vividhkarn Co Ltd’s CSR program is Montavee “Tommy” Hongsyok. The 35-year-old Assistant Managing Director of Phuket’s exclusive Honda dealership follows in the footsteps of his father, Montri Hongsyok, an accomplished executive and respected community figure in Phuket. Following is a Q&A session that the Phuket Gazette recently had with Tommy about the Honda dealer’s…
-
Phuket Business: Pineapples please
PHUKET: A pineapple trading center was opened in Phuket recently in a move aimed at centralizing provincial supply of the fruit, and thus increasing its market penetration potential across Southeast Asia. Vinai Kwankaew of the Phuket Agriculture Office said that pineapples have become the province’s most significant revenue-generating fruit. Phuket pineapples are known for their sweet flavor, tasty and yellow…
-
Phuket Business: Beware of the hammer and nail approach
PHUKET: There is a very famous quote that often comes to mind when speaking with many of my colleagues in the wealth management industry: “When the only tool you have is a hammer, everything looks like a nail”. Unfortunately many advisers fall into this trap, and despite the fact that everyone’s situation is different, they will recommend the same solution…
-
Phuket Business: Beer, wine and automobile excises poised for revision
PHUKET: In light of Cabinet’s recent approval of tax hikes for cigarettes and liquor, the Excise Department is now looking to increase revenue shares from the trade of beer, wine and automobiles.Quoted in a report by the Nation, Benja Louichareon, director-general of the Excise Department, said, “The department is also looking at whether it should increase tax on beer and…
-
Local TAT chief bullish on Phuket tourism industry
PHUKET: The new director the Tourism Authority of Thailand (TAT) office in Phuket Town has proclaimed the “low season” a thing of the past with so many tourists arriving year-round. Speaking at the “Governor Meets the Press” gathering at Provincial Hall today, TAT Southern Region 4 Office director Chanchai Doungjit expressed confidence in the performance of the Phuket tourism industry,…
-
Phuket Business: Midyear tax filing deadline tomorrow
PHUKET: Tomorrow, August 31, is the midyear tax return filing deadline for both companies and individuals who have generated income in Thailand during the first six months of 2012 – regardless of where or how payments were made. The Revenue Department website states: “A company [or individual] is obliged to estimate its annual net profit [or net income] as well…
-
Phuket Business: Capitalizing on world illiquidity
PHUKET: There have been several investment strategies, with great results, that I have been relying on recently. They are filling the gap left behind as banks are forced to shore up their capital bases and thus forgo many of their traditionally lucrative and profitable businesses. One of these strategies – legal financing – I have written about several times. Another…
-
Laguna Phuket announces expansion plan
PHUKET: A lavish dinner to celebrate the 25th anniversary of Laguna Phuket was held on Friday, where Chief Executive of Laguna Resorts & Hotels Ho Kwon Ping (known as KP Ho) gave a preview of upcoming expansion plans for the group. A new mixed-use development overlooking a west-coast beachfront lagoon between the Dusit Thani Resort and upcoming Outrigger Laguna Beach…
-
Phuket Business: German economist warns about ASEAN+3
PHUKET: Mechanisms need to be in place for crisis prevention and resolution before the next economic crash, and this means the Southeast Asian regional financial structure needs to be reformed, warns Ulrich Volz, a senior economist at the German Development Institute.Giving a public lecture at Chulalongkorn University on lessons learned from the current European crisis, Volz said there were five…
-
Phuket Business: Mid-year tax filing deadline approaches
PHUKET: Companies and individuals who generated income in Thailand during the first six months of 2012 – regardless of where or how payments were made – have until August 31 to file their midyear tax return. In this first article, we will go over the basics of regulations and procedures for filing and paying income tax in Thailand. Next week,…
Don't forget to check out some other things to do in Thailand - get help starting a business or finding a job in Thailand, buy Thailand property, rent a yacht or book a medical procedure worldwide.