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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As a business owner in Thailand, you know how tough it is to stand out online. Ads get skipped, scrolled past, or flat-out ignored. People are more sceptical than ever about what they see on their feeds. And even when...
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Thai Airways presents new recovery plan for board approval
Thai Airways president Sumeth Damrongchaitham says the national carrier will submit a 2020-2025 rehabilitation plan to the Board of Directors in January, with a separate purchasing plan for new aircraft also being put forward. The Nation reports that the rehabilitation plan will consist of twenty projects and four key measures. One of these will be to increase the revenue derived…
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Competition amongst discount airlines concerns Thai CAA
PHOTO: Travel Daily (the photo is for display only and does not reflect on the airlines depicted) Thailand’s airlines are strapped for cash, facing serious competition and discounted airfares, and the Thai Civil Aviation Authority is closely watching their safety standards. This from the CAAT director-general Chula Sukmanop. Sukmanop says he’s worried because many airlines, especially budget carriers, are facing…
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Phuket resort owners Castlewood Group goes into liquidation
UPDATE: “The liquidation is for Singapore assets only, NOT Thai assets, the (Phuket) hotel is not being liquidated and operating as normal,” according to the Dream Phuket Hotel & Spa General Manager Chris Adams. PHOTO: Couple Travel The World The future of a Phuket resort in the booming Layan Beach/Cherngtalay area, funded by a Singapore-based property developer, is under a cloud following…
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Tesco to sell assets in Thailand and Malaysia
Tesco, Britain’s biggest supermarket chain, has announced it may sell off its businesses in Thailand and Malaysia. A statement says that “following inbound interest, it has commenced a review of the strategic options for its businesses in Thailand and Malaysia, including an evaluation of a possible sale of these businesses.” In other words, they want to sell. “The evaluation of strategic…
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FULL TIME WRITER – English language
THIS IS A JOB ADVERTISEMENT Are you Mr. or Ms. Write? The Thaiger is currently seeking a full-time writer, in English, to work from our Cherngtalay offices in Phuket. You will have an enthusiasm for writing and a working knowledge of life in Thailand. You may have journalism experience but flair, speed and enthusiasm are much more important. You will…
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Number of foreign companies investing in Thailand up over 100%
Foreign investment in Thailand has grown by 106% according to the National News Bureau of Thailand, with officials rolling out a number of measures to make foreign investment less complicated. The latest increase is despite a fall in the number of foreign companies approved to carry out business in the Kingdom – down 23% from last year. Poonpong Naiyanapakorn, deputy…
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Officials carry out spot-checks on silly-season gift baskets
PHOTO: 77jowo.com You’re only weeks away from receiving a few of those plastic-wrapped and ribboned baskets of unwanted goodies for the silly season – but do you wonder what’s inside most of them? Now officials are making a list and checking it twice… Officials in Bangkok are out and about checking those prized Christmas and New Year gift baskets to…
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HADO introduces augmented reality e-sports at SHOW DC, Bangkok
It’s the first physical e-sports centre for Thailand and the largest in Southeast Asia. Bangkok’s SHOW DC is adding to its reputation as a state-of-the-art lifestyle and entertainment destination with the introduction of Thailand’s first physical e-sport centre. Originating in Japan, HADO is the world’s first physical, augmented reality technology, and FoodYum Company is introducing the new phenomenon to Thailand at…
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Strong interest of foreign investors in Phuket’s resorts – JLL report
PHOTO: Dhawa Phuket “In the Asia Pacific, Phuket is one of the three hotel investment markets in the region that have been highlighted.” Buoyed by the rise of experience-driven travel and an affinity toward locally-inspired hotel offerings, resort assets remain a top target among investors. According to JLL Hotels & Hospitality’s Global Resort Report, resort sales accounted for 20% of…
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Huge potential for electric car industry in Thailand
Have you considered getting an electric car yet? What’s your impediment? Cost? Selection? Too ‘out there’ for you at this stage? Electric cars (EVs) are yet to go mainstream in Thailand as yet. But there is little doubt the popularity of locally built and imported EVs will rise over the next few years. There will be more choice, the cars…
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Ban on used car imports comes into force in December
PHOTO: Roni Motors Thailand “After December 10, all used vehicles imported for personal use will be confiscated and destroyed immediately.” Keerati Ratchano, the director-general of the Foreign Trade Department, says his department is gearing up for a ban on importing used cars to Thailand, to be introduced by the Commerce Ministry in December. The ban was first announced in July…
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Thai Airways says it won’t get into a price-war with other airlines
PHOTO: YouTube National carrier Thai Airways says it won’t head down the ‘price-cutting’ route to be competitive in 2020. The struggling airline says, instead, they will focus on building a solid customer base and tap specific route segments. Airline president Sumeth Damrongchaitham says the carrier will continue to recruit stronger marketing partners and estimated that the aviation industry would continue…
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Thai Airways’ losses reach 11 billion baht this year
Thai Airways International has announced the turnover of the company and its affiliates for Q3 of 2019, reporting net losses of 4.68 billion baht, a full 27% higher than last year’s result, an additional loss of 994 million baht. In the third quarter of 2019, the company and its affiliates generated revenue of 45.016 billion baht, which is 6.1% or…
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Bangkok’s office rental hot spots
PHOTO: brandinside.asia And the winner is…? A survey carried out by Colliers International (Thailand), a global commercial real estate organisation, reveals that the highest office rent in Bangkok is at Gaysorn Tower on Ratchaprasong Road. The Nation reports that premium office space in the building is leased for 1,600 baht per square metre per month. Coming in at slightly less are spaces…
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China announces policies to lure foreign investors
PHOTO: Shanghai skyline – QANTAS Are the Chinese removing layers of ‘red’ tape? China is offering 20 new measures friendly to foreign investors, removing business restrictions to encourage a more “fair, transparent and predictable” business environment. China’s State Council released a guideline pledging to shorten negative lists and eliminate restrictions, opening up more sectors to foreign investors. The Nation reports…
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SE Asian banks slowly giving way to e-payments and payment apps
PHOTO: starbucks.com That cold, hard cash in your pocket, and the traditional shop-front banks that give it to you, are slowly being phased out and replaced with e-payments. It’s now expected that traditional banks in South east Asia will miss out on as much as US$5 billion, or 14.3% of their payments revenue by 2025. A report says they are…
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Strong Thai baht helps Central Group invest overseas
PHOTO: CEO of Central Group, Tos Chirathivat, taking advantage of the strong Thai baht – The Nation Whilst the strong baht is a concern for exporters and foreign tourists visiting Thailand, many Thai businesses are reaping the currency advantage and investing overseas with their strong baht. Tos Chirathivat, CEO of Central Group, has confirmed that the family-owned conglomerate is investing…
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Foreign investment applications rise 69% in first nine months
PHOTO: Bloomberg Thailand continues attracting foreign direct investment, with applications rising 69% in the first nine months of 2019, according the Board of Investment (BOI). Applications in the electronics and electrical sector, and the digital and automotive sectors, represented 131.78 billion baht, or 65% of the total. The value of applications, up to September this year, was 203.37 billion baht,…
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American firms want to relocate to Thailand to counter US-China trade war
PHOTO: “You’re all welcome!” – Thai PM Prayut Chan-o-cha at the ASEAN Business Summit – Bangkok Post US business leaders visiting Thailand are looking for opportunities, especially relocating their production bases, as they try to sort out heir businesses in the wake of the US-China trade war. The US Secretary of Commerce Wilbur Ross and executives of 16 American companies…
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New land tax forces land owners to evaluate their options
PHOTO: SCMP The new Land and Property Tax, which takes effect in January 2020, will be a challenge for the Thai property market, according to the managing Director of CBRE Thailand. In an open report to the media, CBRE says owners of vacant sites will pay significant taxes once the new law comes into effect. Many will try to avoid the…
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Kasikorn Bank predicts 4-6% growth in loans for 2020
Despite the expectation of a sluggish economy in 2020, Kasikorn bank aims to grow its loan volume by 4-6% next year. They it say they will achieve this withs emphasis “on services that meet customers’ business and lifestyle needs, effective cost management and using data in lending to retail customers”. Banthoon Lamsam, KBank’s board chairman, says the Thai economy in 2020…
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Another Thai hotel management dispute flares up – The Peninsula Bangkok Hotel
PHOTO: The Peninsula Bangkok Hotel The Hongkong and Shanghai Hotels, which operates luxury brand The Peninsula Hotels, says it will “vigorously defend its rights” to manage The Peninsula Bangkok, following a legal win by the hotel’s Thai shareholder that paves the way for the management agreement to be terminated. And so the open wounds of a business saga are now…
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500 people own 36% of equity in Thai companies
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…
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Thai Airways must modify rehabilitation plan to survive: Airline President
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…
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World Economic Forum says lack of critical thinking in Thailand affecting competitiveness
PHOTO: AFP Thailand’s competitiveness ranking has dropped two places in the Global Competitiveness Index just released by the World Economic Forum (WEC) in Switzerland. The country has dropped from 38 to 40 out of a total of 141 global economies ranked. The WEC claims that a lack of critical thinking in teaching in Thailand, along with its failure to dominate…
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Samsung Electronics flags 56% fall in third quarter profits
“Samsung took advantage of the US trade ban against Chinese rival Huawei.” PHOTO: CNBC Samsung Electronics says it expects operating profits to drop more than 50% in Q3 amid a continued slump in the global chip market. Operating profits for July to September was expected to reach 7.7 trillion won (US$6.4 billion), down 56.2% from a year earlier – this from…
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“No liquidity crunch” – Thai Airways’ President
PHOTO: Sumeth Damrongchaitham, Thai Airways’ President “Deputy PM says the rehabilitation plan had been implemented for a while now, but there was still no sign of the losses easing.” The President of national flagship carrier Thai Airways International is denying reports that it is experiencing a liquidity crunch. Sumeth Damrongchaitham claims that Thai Airways has sufficient cash flow “for present…
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PropTech company targeting global expansion? FazWaz raises Pre-Series A
FazWaz, a PropTech company focused on making real estate transactions cheaper, simpler and more efficient announced today that is has secured an undisclosed 7 figure USD amount in a pre-series A round led by a Singaporean group. The funding will enable the FazWaz Group to expand its market share in Thailand, and continue its overseas expansion into the UAE. The…
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18 foreign companies receive licences to operate in Thailand – September
“Since January this year, 155 foreign companies have been granted licences to conduct business in Thailand.” The Thai Department of Business Development has granted licences, during September, to 18 foreign companies to conduct business in Thailand. The director-general Vuttikrai Leewiraphan says most of these companies are from Japan, Singapore and Hong Kong, employing 428 Thais and have an investment capital of…
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Cafe Amazon brewing up a cup of coffee in China
PTT Oil and Retail Business, the owners of the Cafe Amazon brand, has opened its first branch in China. Their goal is to make the coffee chain a global brand, a sort of ‘Thai Starbucks’. The first Cafe Amazon outlet in China is located at a Sinopec petrol station in Nanning of Guangxi, in southern China on the Vietnamese border,…
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