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 Business: Island’s inflation skyrockets
PHUKET: Not only does Phuket continue its reign as the most expensive (consumer) province in Thailand, but the island province’s rate of inflation doubles that of the national average, recent economic data shows. The Phuket Commerce Office, in collaboration with the Phuket provincial government and the Commerce Ministry’s Information Office and Bureau of Trade and Economic Indices, recently published the…
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Phuket Finance: No fund is risk free… but
PHUKET: I recently began using a very interesting fund with retirees who need a steady income called Lavaux Capital, which is run out of the very well-regulated jurisdiction of Switzerland. The managers have all been involved in trade finance for many years and basically specialize in bridge financing backed by insurance contracts. The fund pays 8% simple interest in quarterly…
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Phuket Business: Tourism growth projected at 15% by Seacon head
PHUKET: Piya Sosothikul, executive director of Seacon Group, and owner of the Renaissance Phuket Resort and Spa, recently gave his outlook for Phuket tourism. Mr Piya said he expects tourist arrivals to increase by 15% this year, despite a decline in arrivals from the island’s traditional tourist source markets in Western Europe, due to the economic and financial crises affecting…
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Phuket Business: Pepsi gets new Andaman arm
PHUKET: Super Cheap Co Ltd has taken over distribution of Pepsi beverage products in Phuket and two other key Andaman coastal provinces, a spokesperson from the local retail giant has confirmed.The development follows the expiration on November 1 of a long-running contract between the Thai subsidiary of Pepsi-Cola (PepsiCo) and local beverage firm Serm Suk.Prior to the split, Bangkok-based Serm…
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Phuket Business: Get your head in the clouds
PHUKET: Information technology (IT) has dramatically changed the way people communicate and do business. Changes in information technology are rapidly taking place and investors who are able to spot the newest trends can profit from those trends greatly. One continually evolving trend is “cloud computing”. Investors focused on IT growth stocks and exchange-traded funds (ETFs) have several options when it…
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Phuket Business: ASEAN set to ink deals with China
PHUKET: ASEAN and Chinese leaders are set to ink two Free Trade Agreements (FTA) facilitating commerce at a bilateral summit later this month. Representatives will meet on November 18 in Cambodia, at a summit between ASEAN leaders and six partner countries.One agreement would eliminate some trade barriers related to sanitary and phytosanitary (animal and plant health) standards; the other would…
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Doing Business in Thailand: AMCHAM Legal Forum
PHUKET: AMCHAM will hold a forum titled ‘Doing Business in Thailand – 3 Things You Should Know’, on Thursday, November 29, at Royal Phuket Marina. Three top international lawyers will be on hand to talk about how to do business without Thai nominees, enforcing contracts through arbitration, and the increasing focus on criminal corrupt practices and anti-corruption laws. The event…
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Phuket Business: The economic realities of 2015
PHUKET: A lot of people in Phuket have been talking about the drastic changes, which are meant to happen in the region come 2015, when the Association of South East Asian Nations (ASEAN), is to adopt a common economic community (the ASEAN Economic Community, or AEC) similar to the Euro Economic Area. There are some obvious differences such as the…
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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…
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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…
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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,…
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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…
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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…
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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…
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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,…
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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…
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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,…
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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…
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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…
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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…
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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…
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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.…
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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…
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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.…
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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…
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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…
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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…
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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,…
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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…
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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…
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