Business News
Stay abreast of the ever-changing Business News in Thailand through our comprehensive coverage of local and international business events, market trends, and economic updates. We provide reliable analysis, in-depth features, and expert insights on the most relevant business stories, including issues affecting Thailand’s stock market, foreign investment, and entrepreneurship. Track the business world’s pulse as we inform you of crucial developments shaping Thailand’s economic landscape.
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Phuket pool factory to make a splash
PHUKET: Swimming pool designer, manufacturer and retailer, JD Pools, recently held a celebration to mark the completion of their new factory and training center at Thalang. The 5,000 square meter factory is aimed at cementing JD Pools’ position as the largest pool manufacturer in ASEAN and will also function as a training center for their staff from across the region.…
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Phuket tourism icon inspires AMCHAM meeting
PHUKET: Change – experiencing it, realizing it, understanding it, anticipating it and then trying to figure out how best to implement it for the optimal benefit to Phuket and all of its stakeholders. Such was the underlying theme of an awe-inspiring speech given last night by Wichit Na Ranong, a key driver, if not the father, of Phuket tourism. Co-founder…
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Cut costs on investments – Phuket Finance
PHUKET: If you are like many expatriates living in Phuket, you have probably failed to realize the impact trading or investment fees can have on your portfolio’s return, as such costs are often hidden and can quickly add up over time. In a rising market, these costs may not be so noticeable; but in a stagnant or falling stock market,…
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Last Call – Is there life on Mars?
PHUKET: I found myself singing the David Bowie classic from Ziggy Stardust just this morning in the shower, with that classic line “Is there life on Mars?” I’m not quite sure of the answer, though sipping cocktails while viewing a lunar Martian sunset certainly sounds like a good idea. That just may be the penultimate sundowner. Yes, the danger signs…
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Absolute return funds – Phuket Finance
PHUKET: This short article will take a look at whether absolute return funds will begin delivering again. An absolute return fund or strategy is one which attempts – attempts being a very key word here – to deliver positive year-on-year returns regardless of market conditions. There are very many strategies that are employed in the attempt to generate these returns.…
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Asia-Pacific consumers careful
PHUKET: Economy-related matters appear to be on top of the list of concerns for today’s Asia Pacific consumers. According to the latest global survey by GfK, two in every five surveyed were worried about recession and unemployment as well as inflation and high prices, and at the same time, one in three said they are concerned about having enough money…
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Ensure fiduciary duty – Phuket Finance
PHUKET: Fiduciary duty basically means that an agent is meant to act in the best interest of his client, and not his own. It is a very simple concept, yet not surprisingly, the real world all too often does not work this way. When it comes down to it, human beings very often fall victim to greed. If I told…
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Staying in touch with Facebook – Phuket Investor
PHUKET: One of the main things I like about Facebook is that I can stay in touch with my family and friends all via one platform. Before I had to keep emailing, making phone calls and writing the occasional letter to and from the US. Now with Facebook, I don’t have to do that anymore. I’m able to share my…
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Chinese, Russian influx a boon for Phuket
PHUKET: Despite a dramatic decline of visitors from Western Europe, Phuket’s tourism industry thrives, thanks to the throngs of Chinese and Russian travellers who fill up hotel rooms but also strain the infrastructure. “For the first time, travellers from legacy markets such as Western Europe are no longer present in the top five arrivals. What has replaced them are Asian…
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Last Call – Table for three, please
PHUKET: The intersection, or better yet juxtaposition between the mythical Cyclops of desire and loathing is hardly visible to the naked eye. I might be going a little too “fru fru” here so let’s back away from the table a bit. Slowly, making sure not to stumble over a nearby sleeping soi dog. Back we go to the beginning of…
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Americans renouncing tax liabilities
PHUKET: The number of US taxpayers renouncing their citizenship or permanent-resident status reached a new high in Q2 of 2013. The figure of 1,130 people who the IRS listed as renouncing their status is two-thirds higher than the previous recent high, set in Q1 of 2013 and six times higher than Q2 of 2012. It is also the largest number…
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Cebu pacific, Tiger Air tap into Manila-Phuket direct flight market
PHUKET: At about the same time that Tourism Malaysia announced the closing of its Phuket office (click here for story), another major Southeast Asian source-market is poised to link up with the “Pearl of the Andaman” – the Philippines. As of this month and next, two regional airlines will service direct flights between Manilia and Phuket International Airport. The Philippine’s…
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AEC training for tourism
PHUKET: The Department of Tourism and the National Institute of Development Administration (NIDA) will hold major training courses for entrepreneurs in the tourism and hospitality industry in order to prepare them for the opening of the Asean Economic Community. Pasit Poomchusri, Deputy Director General of the Department of Tourism said the tourism and service industry which includes lodgings, restaurants, transportation,…
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Phuket In Focus: AEC is coming – are you ready?
PHUKET: In 2015, the 10 member states of the Association of Southeast Asian Nations (Asean) – Thailand, Indonesia, Malaysia, the Philippines, Singapore, Brunei, Myanmar, Cambodia, Laos and Vietnam – will formally integrate their economies as part of the Asean Economic Community (AEC) initiative. The AEC will be similar to the European Economic community (EEC) where participating countries aim to develop…
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Chalong means “celebrate’ – Phuket Business
PHUKET: They started the production just nine months ago but they already have reasons to celebrate – their product achieved international recognition, winning the highest award for a white rum at the International Wine and Spirit Competition in Hong Kong. But what’s even more important, it feels like a part of Phuket’s DNA – natural, local, merging traditions and cultures.…
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Asian groups may invest US$150bn in markets abroad
PHUKET: Institutional investors based in Asia could look to invest in excess of US$150 billion in global real estate over the next five years, though not necessarily in domestic markets. According to the latest research from leading global real estate services provider, CBRE, since there is limited investable stock available in Asia, such investors – including banks, insurance companies as…
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Raising bar past low-tide mark – Phuket Business
PHUKET: Corporate social responsibility (CSR) has a long-standing and ill-fated tradition of stopping at the low-tide mark. For mountain resorts in the French Alps, which do not rely on what is beneath the ocean surface to draw guests, such an oversight is understandable. However, the trend of CSR projects not safeguarding heavily threatened marine systems, such as the coral reefs…
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Asian demand for tablets and laptops insatiable
PHUKET: Southeast Asia’s internet infrastructure has improved by leaps and bounds, spurring the increasingly connected society to seek gratification for instant connectivity via portable devices such as tablets and laptops. In the last 12 months, demand for both devices grew to hit combined sales of nearly 14.2 million units across six of the region’s key markets – Singapore, Malaysia, Thailand,…
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Cloud computing: Forecast sunny – Phuket Business
PHUKET: Lately, I have been hearing many stories of expats and tourists in Phuket whose laptops have been stolen. Having your laptop stolen is a terrible experience. You not only feel violated, but your life was basically on that computer. Picking up the pieces can be hard, but today it can be made easier with cloud computing. Cloud computing is…
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Laguna Phuket announces major staff restructuring
PHUKET: Laguna Phuket has announced that it is undergoing a significant departmental restructuring and downsizing, but the company declines to confirm or deny reports that as many as 300, or 10 per cent, of its associates have left or are in the process of leaving.According to a press statement issued today (July 31), Laguna Phuket currently employs close to 3,000…
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Last Call: A love, loom affair with China
PHUKET: Often, one of the last interview questions to scientists or economic strategists is the ominous, almost motherly line: “What keeps you awake at night?”. In most cases the answer is obtuse and rarely what they call in submarine talk, a direct hit. In my own personal version of Groundhog Day [the blockbuster hit starring Bill Murray] – over and…
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Phuket International Boat Show and Royal Phuket Marina partner for five years
PHUKET: The Phuket International Boat Show (PIMEX) has secured its home for the future with the signing of a five-year host venue agreement with Royal Phuket Marina (RPM), the marine and luxury lifestyle destination on Phuket’s east coast. Having recently announced the dates for 2014 being moved to the popular January 9-12 timing, organisers say they are laying strong foundations…
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Island trade drops by nearly 60% since last year
PHUKET: Three-quarters of the way into the government’s current fiscal year, the island’s export-import industry is dwindling, particularly when compared to last year’s benchmark trading year. Phuket Customs House’ records through June 30 show that the value of exports in the 2013 government fiscal year (October 1, 2012 to September 30, 2013) so far, is just over 5 billion baht…
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Phuket’s inflation 10% higher than country
PHUKET: The island continues to outpace most of the rest of the country in terms of inflation, with the cost of living in Phuket during the first six months of the year, growing at a rate 10% faster than Thailand overall. Meanwhile, headline (overall) inflation in the Kingdom’s two main cities in the North and Northeast was more than 40%…
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Free seminar in Phuket to focus on overseas investments for expats
PHUKET: A free investment seminar focusing on portfolio management for expats living off the interest produced through their ventures will be held on July 25 at Loch Palm Golf Club.The seminar is being organized by one of the longest standing financial consultancies in Thailand, Montepelier (Thailand) Ltd. Leading the seminar for Montepelier Wealth Management will be Ron Keyte, who has…
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Phuket’s footy club turnover doubles
PHUKET: Ticketing and merchandising revenue for the island’s pro soccer club, Phuket FC, doubled year-on-year, while the club’s fan turnout has swelled by 93% during the same period. Now at the mid-season point, business seems to booming for the island’s pro soccer club, at least compared to this time last year when fan support for the club was dwindling. But…
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Phuket’s bulging market
PHUKET: In the latest drive to promote the island’s medical tourism industry, Bangkok Hospital Phuket (BHP) recently held an innovative “boob job” seminar. Entitled ” Breast Augmentation Using Contour Profile Gel Implant Live Surgery Workshop”, the seminar was attended by some 25 cosmetic surgeons from Asia Pacific countries, especially Thailand, Singapore, Malaysia and the Philippines Dr. Narongrit Havarungsi, BHP director,…
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Low Cost Carriers: Save us from safety savings
PHUKET: Dying in an airplane crash is not exactly my idea of heading off into the hereafter with a veritable big bang. Much less trying to escape from a burning plane about to explode in a widescreen Bruce Willis Die Hard epic. But perhaps let me wind this back a little to pre-Grantville. Last Thursday, a last minute business meeting…
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Thai smartphone sales ringing up big numbers
PHUKET: Smartphone sales in Thailand more than doubled in the first four months of 2013, a report by one of the world’s largest research companies reveals. The GfK Thailand office reports that communication consumer electronics went from being just one in every five handsets less than two years ago to more than two in five or 42% of overall unit…
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Phuket Business: A Swiss sip of homely bliss
PHUKET: Operators of hotels, restaurants, cafes and especially Swiss expats wanting a taste of home, can now purchase Caffe’ Chicco d’Oro and many other imported food products from Switzerland in Phuket. Patty Bamert together with Samai and Fredy Reutlinger, have recently opened their ‘Caffe’ Chicco d’Oro’ coffee and bistro shop in Kathu, serving the popular Swiss coffee brand of the…
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