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: Copyright fraudsters on the prowl
PHUKET: Operators of entertainment establishments that utilize copyright protected songs should be wary of personnel claiming to be royalty collectors, a statement issued by the Department of Intellectual Property has warned. The warning, published last week on the Ministry of Commerce website, said that the department has recently received a number of complaints from establishment operators in Phuket, Pattaya and…
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Phuket Business: The European tourist market is dormant, but not done
PHUKET: Local officials and tourism industry representatives are optimistic about the revival of the European tourist market in the near future, following the recent success of a Phuket tourism promotion roadshow in Germany. The Internationale Tourismus – Borse 2012 (ITB 2012), one of the largest tourism trade shows in the world, was held in Berlin, Germany. Representing Phuket at the…
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Phuket Business: Batik operations seek integration
PHUKET: The Phuket Provincial Industry Office (PPIO) recently led a seminar to reinforce the continued development and integration of the island’s high-potential Batik fabric industry. The industrial promotion event marked the beginning of the second consecutive year of efforts to develop local production, reinforcing momentum from the forming last year of the Phuket Batik Cluster. That initiative was marked by…
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Phuket Business: Income tax filing: Part II
PHUKET: For anyone who generated income in Phuket or elsewhere in Thailand last year, regardless of where or how they were paid, the personal income tax filing deadline is March 31. However, since the last day of this month falls on a Saturday, the last opportunity to file on time will be Friday, March 30. In the first of two-article…
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Blue Flag Fair a hit in Phuket Town
PHUKET: Wage slaves suffering from rising consumer costs and stagnant salaries have been flocking to the Blue Flag Consumer Products Fair at Sanamchai field in Phuket Town, where government-subsidized consumer staples and other products are on sale at rock-bottom prices through tomorrow. Supacha Bunthalit, who heads the Department of Internal Trade (DIT) Office in Phuket, told the Gazette the most…
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Laguna Phuket MD resigns
PHUKET: Michael Ayling has resigned his position as Managing Director of Laguna Resorts & Hotels, which owns and operates the Laguna Phuket resort complex on Phuket’s west coast. A media statement issued this morning noted that Mr Ayling’s last day with the renowned resort company will be on May 31, 2012. According to the statement he will be leaving the…
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Phuket Business: A mortgage in the UK
PHUKET: House prices in the UK have suffered a dramatic fall over the past few years and banks have made it harder for first-time buyers. To put it bluntly, banks have made it harder for any buyer getting on the housing ladder when prices are low. Although UK house prices are expected to make a steady recovery over the next…
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Phuket pushes for first dedicated hospitality college
PHUKET: With Prime Minister Yingluck Shinawatra’s arrival on Phuket for the Cabinet meeting tomorrow, more details of the proposed transformation of Thalang Vocational College into Phuket’s first dedicated hospitality and tourism college have been unveiled. The college’s director, Suthep Yongyut, told the Phuket Gazette that the plan is to be proposed to the Cabinet tomorrow for budget approval of 300…
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Phuket Business: SET in the city
PHUKET: Investors in Phuket became privy to invaluable financial advice at the island’s inaugural investment extravaganza hosted by the Stock Exchange of Thailand (SET) recently. Organized in collaboration with the Phuket Chamber of Commerce, Phuket Federation of Industries and the Phuket Bankers Association, it was the first time for “SET in the city” to be held in Phuket. The event…
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Phuket Business: APSA gears up for boat show
PHUKET: ASIA-Pacific Superyacht Association (APSA) is gearing up for the Phuket International Boat Show (PIMEX), to be held at the award-winning Royal Phuket Marina from March 29 to April 1. The leading consumer boat show in Asia, PIMEX will feature the largest in-water boat display with more than 50 boats representing leading brands from around the world. The line up…
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Phuket business: Tourism campaign lures swingers; Tourism and hotel college enrolls for May
PHUKET: With the Thai summer just around the bend, club swingers are among the latest tourist group that the Tourism Authority of Thailand (TAT) has set its sights on. In a bid to increase golf tourists to the country by 10%, TAT this year has partnered with MasterCard to launch the “72 Hours Amazing Thailand Golf Paradise” campaign. All in,…
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Phuket Business: Sansiri sales on the up
PHUKET: Amid an oversupplied and flooded real estate market, many new developers in Phuket are struggling to close project sales. In contrast, Bangkok based mega developer Sansiri Plc has received promising feedback from buyers on the island. In the five months since taking on Phuket, the Bangkok giant has invested nearly 2.7 billion baht (approx US$ 90 million) in four…
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Phuket business: Tax filing deadline approaches
PHUKET: For anybody who generated income in Thailand last year – regardless of where or how they were paid – the personal income tax filing deadline is March 31. In this two-part series, the Phuket Gazette will outline the need-to-know basics for filing personal income tax in Thailand. First, we will cover taxable income, deductions and tax certificates. In the…
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Phuket business: A speculative investment
PHUKET: I remember as a young kid growing up in the US often seeing bumper stickers on cars with slogans about freeing Burma. When I was I first planning to move to Phuket, Thailand I still had no idea where Burma was, as the maps now showed some country I had never heard of called “Myanmar” bordering the Kingdom to…
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Asia-Pacific Superyachts to join Phuket International Boat Show
PHUKET: Asia-Pacific Superyacht Association (APSA) will be exhibiting at this year’s Phuket International Boat Show (PIMEX) and Singapore Yacht Show (SYS). APSA members will be on hand to offer comprehensive information about the Asia-Pacific region, the association, its work and its member companies. “It is great that APSA has the support of the Informa Yacht Group and the APSA membership…
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Phuket business: New tourism and hotel college enrolls for May
PHUKET: In response to swelling demand in the island’s booming services industry, Thalang Technical College will be developing into the Phuket Hotel and Tourism College. The move was announced earlier this week by the college’s director, Suthep Yongyuth.“We first opened in 1997 as the Phuket Technical College number two, and then changed our name to Thalang Technical College in the…
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Phuket workers have new hospital option under social security
PHUKET: The Phuket Provincial Administration Organization (OrBorJor) Hospital is accepting applications from workers who want the new hospital to be their primary healthcare provider under the Social Security insurance scheme. The OrBorJor hospital, located on the east side of Phuket Town, has been actively courting new patients since its opening in May last year. Darawan Jinda, who heads the hospital’s…
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Phuket business: Indonesia – Asia’s new rising star
PHUKET: For many of us expats in Phuket, our Asian paradise has sheltered many of us from the financial woes being experienced back home by family and friends. Asian markets, though not totally immune to European debt levels and the impending push for White House power, have been fairly resilient over the last few years and have provided steady economic…
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Phuket business: Luxury auto dealer projects 25% growth
PHUKET: Highlighting the European high-end car market’s upward trend in Phuket, a major luxury car dealer has set its sales target to be 25% higher than last year. Sureeporn Udompolvanich, CEO of TSL Auto Corporation Co Ltd, revealed that the company was able to sell 800 cars in 2011 with a 15% increase in total revenue when compared to 2010.…
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Phuket business: Alien laborer deadline gets extension
PHUKET: More than 20,000 unregistered migrant workers in Phuket now have until mid-June to register with the government, thanks to a Cabinet resolution earlier this month extending the deadline by five months. The extension gives employers time to obtain two-year work permits for unregistered alien workers from Burma, Laos and Cambodia, said Phuket Provincial Employment Office Chief Noppadol Ployudee. Workers…
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Phuket business: LED systems to dim costs
PHUKET: Businesses and private homes looking to reduce overheads and increase marketing and profit potential can benefit by tapping into the latest LED powered solutions. Osram-Traxon (Thailand), have partnered with SAPL-CAL Solutions and Boonsoong Technology Co Ltd to showcase its latest products at the Phuket Life and Drive Show, scheduled for March 28 to April 2 at the Homeworks complex…
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Phuket business: Axiom legal financing segregated portfolio
PHUKET: A little while back my article about litigation funding in general was published and at the time I was kind of sitting on the fence about the asset class. One of my main hang-ups had been with the fact that generally the access to it that I had seen up to that point had been via structured notes, which…
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PHUKET TOURISM: Expert warns of traffic crisis for Phuket Airport
PHUKET: Capacity at Phuket International Airport is expected to reach critical levels this year with the thriving tourist destination projected to receive a staggering nine million visitors in 2012, according to a report released by leading hospitality consultancy C9 Hotelworks today. Bill Barnett, Managing Director of C9 Hotelworks and Phuket Gazette Property columnist, reports that the airport is officially capable…
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Phuket Gazette: Thai ‘wellness tourism’ to scoop up 350bn baht: TAT
PHUKET: The Thai government is projecting that the healthcare sector will earn a total of 350 billion baht (US$11.5bn), contributing much to the government target of becoming a “World Class Health Provider” by 2014. The projection covers the period of a five-year campaign from 2010 to 2014. The strategy follows Thailand being dubbed the “Spa Capital of Asia” in 2008,…
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Illegal Phuket migrant workers get five-month reprieve
PHUKET: More than 20,000 unregistered migrant workers in Phuket now have until mid-June to register with the government, thanks to a Cabinet resolution earlier this month extending the deadline by five months. The extension gives employers time to obtain two-year work permits for unregistered alien workers from Burma, Laos and Cambodia, said Phuket Provincial Employment Office Chief Noppadol Ployudee. Workers…
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Phuket tourism shrugs off Bangkok blasts: PTA
PHUKET: The recent bombings in Bangkok have not resulted in cancellations of hotel bookings in Phuket and the island’s tourism industry prospects for 2012 remain strong, the Phuket Tourist Association (PTA) has announced. Barring a “major incident”, Phuket can expect to have strong tourist arrival figures from both Europe and Asia throughout 2012, PTA President Jirayus Somboon told the Gazette.…
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Phuket business: Inflated eats; Flower sales bloom; Kata – Karon branded green; Taiwan bar raised
PHUKET: In light of the continuously rising cost of living, accounting books of rice and noodle vendors across Phuket and Thailand could become subject to increased audits this year. As of yesterday the Department of Internal Trade (DIT) issued official price cap suggestions for 10 common Thai menu items to be priced under 35 baht. These include rice dishes served…
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Phuket business: Local suppliers to extend reach
PHUKET: Red Bull’s national distribution arm is looking to capitalize on local supply markets, a strategy which could extend the reach of Phuket-sourced products into greater national, regional and global markets. Durbell, a key logistics affiliate of the Red Bull Beverage Company (the producers of Krating Daeng) aims to diversify its offerings and keep ahead in the expanding wholesale and…
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Phuket business: Skyscrapers and economic woe
PHUKET: There’s an economic-cycle theory based on the link between the building of skyscrapers and economic strife. Guess what it’s called? Correct: the Skyscraper Index. While many trends and theories these days are based on cycles, this economical theory is based on the completion of skyscrapers. So what is this theory and does it have any credibility? Let’s first unravel…
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Chinese government eyes interest in Phuket light rail
PHUKET: A state enterprise from the People’s Republic of China is the latest party to express interest in investing in Phuket’s light-rail project.An administration and engineering team from Mashucon Co Ltd announced the news in a meeting with Phuket Governor Tri Augaradacha at Provincial Hall yesterday afternoon.Executive Chairman Nopphon Tansakul told the governor that his team came on behalf of…
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