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Co-working spaces in Bangkok are re-shaping small to medium business office options

Thaiger

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PHOTO: The Great Room

Co-working spaces are opening up around Bangkok and providing a more flexible framework for businesses to grow. Advances in technology, a more mobile workforce, and unpredictable economic growth are reshaping the business environment.

In the Bangkok office market, a traditional three-year lease with options to renew and the tenant fitting out the space remains the typical way of leasing office premises for most occupiers. CBRE reports that multinational firms, with offices in different countries, are increasingly looking for flexible lease terms as real estate costs continue to be one of their major concerns.

Companies are also looking at agile working where staff no longer have allocated desks and, in some cases, it is easier to get third parties to design, build, and operate this space rather than companies doing it themselves.

Some of the current pricing being offered by co-working space operators is very competitive and the cost combined with flexibility is making leasing from third parties more attractive than companies leasing space, fitting them out, and managing their own premises.

In Bangkok, co-working space has continued to be an emerging source of office demand and CBRE has leased over 44,000 sqm, accounting for around 25% of CBRE’s total new office letting volume in the last 2 years, to co-working space operators.

International operators like JustCo, WeWork, Spaces, and The Great Room have opened multiple centres over the recent year and more are scheduled to open this year. The aim of these operators is to revolutionise the way occupiers source office accommodation. They want to provide office space as a service rather than a traditional lease. Check out our list of the best 5 co-working spaces currently available in Bangkok.

CBRE believes that co-working space operators are not just targeting startups companies but also multinational firms especially those seeking to build more flexibility into their real estate portfolio. The use of co-working space can provide flexibility for companies to accommodate fluctuation in space requirements.

Accounting rules have changed and rent payable under leases must now go on the balance sheet, whereas it appears that sourcing office space as a service does not count as a lease and therefore need not be on the balance sheet.

This means occupiers do not need to commit to a traditional three-year lease term. Instead, they are paying their rental as a service fee on a per desk or membership basis rather than per square metre. Co-working space operators are also providing tailor-made solutions with companies enjoying exclusive use of the space and not sharing it with others, making this a viable alternative to a traditional lease for large local and multinational companies.

As millennials will become the largest generation within the workforce in the future, CBRE foresees that companies are forced to re-think their workplace quality to make it capable of encouraging collaboration and innovation as well as promoting employee wellbeing. More companies will transform their offices into agile workplaces either doing it themselves or relying on a coworking space operator to provide the solution.

SOURCE: CBRE

Co-working spaces in Bangkok are re-shaping small to medium business office options | News by Thaiger

PHOTO: Soimilk

 

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Politics

Deputy PM declares Thammanat Prompow controversy finished

Neill Fronde

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PHOTO: Thailand's Deputy Agriculture Minister Prompao talks to reporters after a government cabinet meeting in Bangkok (via Reuters)

Deputy PM Wissanu Krea-ngam says that the debate is over regarding Thammanat Prompow, the controversial Deputy Minister of Agriculture and Cooperatives and influential Palang Pracharath Party ‘fixer’.

The Constitutional court has already ruled that he is qualified to hold office under Thai law and will keep his position, though a huge backlash followed the ruling, and the public wondered how his 1993 heroin trafficking conviction in Australia. Then using the name ‘Manat Bophlom’, he was convicted of conspiring to import a traffic able amount of heroin, serving 4 years of a 6 year sentence.

According to Wikipedia, Thammanat parliamentary declaration of assets in August 2019 listed “2 wives, 7 children, and a net worth of about $42 million, including a Bentley, Rolls-Royce, Tesla, and Mercedes-Benz along with 12 Hermès and 13 Chanel handbags, luxury watches, and Thai Buddha amulets.”

Thai law says that no one who has been convicted of an indictable offence is eligible to hold public office, but the new decision seems to imply that anything that happens outside of Thailand’s border does not qualify. A legal expert, the Deputy PM says that this ruling is not in opposition to the rules about convicts holding office.

He says that a conviction by Australia’s New South Wales Court is not legally binding in Thailand and therefore does not disqualify Thammanat. Only a jail sentence from a Thai court would be considered a roadblock to a candidate being confirmed to hold government office.

Thai immigration law, however, determines that convictions in home countries will bar people from entry into Thailand. The decision also calls into question the legitimacy of the Australian/Thailand extradition treaty which saw Thammanat deported back to Thailand after serving 4 years of his 6 year sentence.

But the Council of State had declared that someone in jail for 2 years cannot hold office within 5 years of release, regardless of whether the jailing was in Thailand or in another country. The 4 year jail term Thammanat served in Australia ended in 1997 so the 5-year grace period has already passed.

The Deputy PM says that this ruling by the Constitutional Court does set a new precedent for future issues of possible MP candidates that may have been in trouble with the law outside of Thailand. But he stopped short of supporting Thammanat’s prior conduct unconditionally, declining to comment.

The National Anti-Corruption Commission has been under pressure to investigate Thammanat and whether his conduct has been ethical. The Deputy PM said that the Constitutional Court ruling does not whitewash any other issues Thammanat may face.

SOURCE: Bangkok Post

 

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Coronavirus (Covid-19)

BMA admits Covid virus spreading fast in Bangkok, speeds up testing and jabs

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The Bangkok Metropolitan Administration says it is speeding up mass Covid-19 testing and inoculations in communities hit strongly by the virus, after admitting the virus is spreading fast in Thailand’s capital.

The city clerk says the administration, along with the Public Health Ministry and other agencies, are speeding up the collection of nasal swabs for Covid-19 tests, with a plan to test 3,000 people in high-risk groups per day. Those people deemed to be at an increased risk of the virus have been clustered by districts, with testing units in each of the 6 districts…

Laksi district, 70 Pansa Min Buri park in Min Buri district, Huai Khwang stadium in Huai Khwang district, under the Rama III expressway in Yannawa district, a public park under Rama VIII bridge in Bang Phlad district and The Mall Bangkae shopping centre in Bang Kae district.

The virus has been found in densely populated, low-income areas such as the Klong Toey community in Klong Toey district, Bon Kai community in Pathumwan district and Ban Khing community and The Mall Bangkae in Bang Kae district. In an effort to help those residents stay at home to prevent the possible spreading of the coronavirus, community-level organisations are teaming up to provide food, water, and supplements to those in the areas.

But stay at home orders are a problem for many as starvation is more frightening than the virus and 90% of residents in the slum communities still need to leave for work each day to keep food on the table. The daily average income for those in the slums is around 120 to 150 baht. The CCSA yesterday declared that is is focusing on containing major Covid clusters in 3 key Bangkok communities – the Klong Toey ‘slums’, Bon Kai in Pathumwan and Ban Khing in the Bang Kae district, on the west side of the Chao Phraya.

Today’s nationwide Covid update includes compiling the regional totals from yesterday, with a total of 27 new Covid-related deaths and 2,044 new Covid-19 infections over the past 24 hours. The numbers continue a statistically consistent rise in the number of Covid infections over the past 2 weeks.

Meanwhile, talking about Phuket’s plans to open in July, the Tourism and Sports Minister, Phiphat Ratchakitprakarn, said yesterday that the number of new cases on the island must reach zero before the government can contemplate the ‘Sandbox’ plan for no-quarantine travel.

SOURCE: Bangkok Post

 

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Coronavirus (Covid-19)

Friday Covid UPDATE: 27 more deaths, 2,044 new infections

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The Friday report, compiling the regional totals from Thursday, indicates that has been 27 new Covid-related deaths and 2,044 new Covid-19 infections in the past 24 hours. The numbers continue a statistically consistent rise in the number of Covid infections over the past 2 weeks.

The CCSA yesterday declared that is is focusing on containing major Covid clusters in 3 key Bangkok communities – the Klong Toey ‘slums’, Bon Kai in Pathumwan and Ban Khing in the Bang Kae district, on the west side of the Chao Phraya.

Meanwhile, talking about Phuket’s plans to open in July, the Tourism and Sports Minister, Phiphat Ratchakitprakarn, said yesterday that the number of new cases on the island must reach zero before the government can contemplate the ‘Sandbox’ plan for no-quarantine travel.

He also disclosed that the government are planning to set a levy of 300 baht to be collected from foreign tourists starting from January 2020 “to set up a tourism fund for emergency use”. Speaking to Bangkok Post…

“Once the spread is under control, the government will resume travel bubble discussions with Singapore, Hong Kong, Vietnam, Laos and Malaysia.”

 

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