Business News

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  • Phuket Business: Chapel bells boost dress sales

    PHUKET: The business of love continues on an upward trend, with Phuket’s Modern Wedding Studio reporting a spike in monthly sales volume by as much as 75% over the last three years. “Business shot through the roof after we were featured on a game show called ‘SME Tee Tak‘ a few years ago.” Mr Narin explained that the nationally televised…

  • Phuket Finance: Using exchange traded funds

    PHUKET: In today’s uncertain economy, investors are increasingly seeking diversification, safety and a secure income. Interest rates continue to hover at or near all time lows in many countries, and the continued uncertainty about the strength of the global economic recovery has made many investors extra cautious. Nevertheless, there is one investment option available that can offer risk-adverse investors both…

  • 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…

  • 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…

  • 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…

  • Phuket Business: Coca-Cola pouring B200mn into Thai cola battle; New player enters market

    PHUKET: Coca-Cola (Coke) is spending 200 million baht on marketing in the final quarter of this year in hopes of surpassing Pepsi to become the undisputed leader of Thailand’s 38.5 billion baht carbonated-drink market.Colas represent about 75% of Thailand’s carbonated drink market. This is followed by flavored drinks (20%) and lemon-lime beverages (5%). The cola segment is also the most…

  • 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…

  • 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…

  • 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…

  • Phuket Business: Andaman tourism campaign aims for 20 million

    PHUKET: Woravat Auapinyakul, Minister to the Prime Minister’s Office, has told the Phuket Gazette that he expects the “Andaman – The World Experience” tourism initiative to attract more than 20 million tourists to the region. At a meeting at Phuket Provincial Hall held recently to chart the progress of the tourism initiative, Mr Woravat said that intense competition within the…

  • 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…

  • 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…

  • 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…

  • Phuket Business: Property executives heed warning

    PHUKET: The island’s property market continues to grow with a high number of new apartments, condominiums and small hotels in line for approval.This “rising boom” sets the stage for the AEC (ASEAN Economic Community), which will come into effect in 2015. The Phuket Real Estate Association (PREA) recently held an “Executive Dinner Talk” at the Boat Lagoon Resort, inviting Songkran…

  • 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…

  • 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…

  • 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…

  • Phuket Business: Local petrol tax under scrutiny

    PHUKET: The Phuket Provincial Administrative Organization (PPAO) last week refuted claims that they had introduced a “new” tax to be collected on the sale of all fuels in Phuket, including diesel, marine diesel, benzine and gasohol. The “maintenance tax”, levied as a 10% surcharge on the sale of all engine fuels, is the same tax previously collected by the Excise…

  • 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,…

  • 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…

  • 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…

  • Phuket Business: Signs of the island’s time

    PHUKET: The Phuket Provincial Government recently published its economic summary report for the first six months of the year (F6M12). The in-depth report highlights year-on-year (y-o-y) figures and trends in trade, consumerism, and in the island’s tourism, property, investment and agricultural sectors. Here, the Phuket Gazette outlines some of these.TourismThe total number of tourist arrivals in F6M12 remained steady with…

  • 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…

  • 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.…

  • 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.…

  • Phuket Business: 200 years of market crises

    PHUKET: With the US stock market sitting near its 52-week high, and already having made a 100% move upwards from its low at the peak of the sell-off that occurred during the financial crisis, I have dug a bit deeper into history to get a feel for the frequency of crashes. I have a good grip on the longer bull/bear…

  • 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…

  • 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…

  • 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,…

  • Phuket Business: Interfering with the navigation systems

    PHUKET: Your aircraft has just landed at Phuket International Airport and out comes the ubiquitous mobile phone, despite the flight crew asking you to keep it switched off until the plane arrives at the gate, because of concerns it may interfere with the aircraft’s avionics, thus endangering all on board. A familiar scene to everyone arriving on Phuket and particularly…