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Phuket business: FC Phuketonomics: ball business

Legacy Phuket Gazette

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Phuket business: FC Phuketonomics: ball business | The Thaiger

PHUKET: Despite having nearly been dissolved due to swelling debts, FC Phuket 1688 Co Ltd generated the fifth highest turnover out of 18 Division 1 clubs, statistics released by the Thai Premier League (TPL) have revealed.

Concluding last month, the 2011-2012 season’s tallied receipts show that the Southern Sea Kirin had generated more than 2.8 million baht, which equates to 4.5% of total revenue generated in the league.

From 17 home league matches at Surakul Stadium, the club sold 83,261 tickets, which produced a gross income of 1,905,230 baht.

The remaining 960,244 baht came from the sale of team merchandise, including jerseys, polo shirts, tee shirts, hats, scarfs and bumper stickers.

Meanwhile, another Southern Thai club, Songkhla FC (who have now changed their name to the Fighting Bulls United) earned honors for the league’s highest turnover and turnout.

Generating more than 17.4 million baht, or 28.4% of league revenue, the Southern Fighting Bulls led the tally for total number of tickets sold (199,138), total revenue from ticket sales (9.84mn baht), and that for merchandise sales (7.65mn baht).

Division 1 champions Buriram FC (who have now been dissolved and merged with Premier League champions, Buriram PEA to form Buriram United) had the second highest turnover, raking in 14.71mn baht, or 24% of league revenue.

This came from the sale of 128,222 tickets which produced 7.5mn baht, and merchandise sales amounting to 7.15mn baht.

The third highest turnover was produced by Chiangmai FC, which made 7.12mn baht from 147,637 tickets, the second best turnout, and 2.13mn baht from merchandise, equating to 11.6% of league revenue.

Marginally outdoing Phuket for fourth highest turnover, was league runners up, and subsequently promoted, Chainat FC, who made 3.44mn baht or 5.6% of league turnover, with just over 2 million baht coming from 60,611 tickets, and another 1.38mn baht from merchandise.

All in, combined revenue from 18 Division 1 teams last season was 61.2mn baht.

Of this, 36.4mn baht, or nearly 60% was generated from gate receipts with a total of 890,268 tickets sold, while 24.7mn baht, or 40% was revenue from merchandising.

The biggest turnover and turnout from a single match was when Songkhla hosted Buriram on August 7, 2011 at Tinsulanond Stadium.

A total of 36,715 tickets were sold to spectators for that match (which ended in a 1-1 draw), generating 1.5mn baht, which is in addition to 1.9mn baht from merchandise.

That record setting turnout is in stark contrast to the overall league’s mean match attendance of a mere 2,909 spectators per game, while mean income per game stood at 80,832 baht per match.

This is compared to FC Phuket’s mean attendance at about 4,900 spectators per game, with each match producing on average 112,000 baht from tickets, and 56,000 baht from merchandise.

In spite of these enticing numbers, FC Phuket’s profitability remains at this time, in a state of untapped potential.

Club executives recently disclosed that the team utilized a budget of 34.6mn baht to cover expenses for training, recruitment and remuneration of club executives, staff and players.

The club’s biggest contributor was the Phuket Provincial Administration Organization (OrBorJor), which dished out more than 17mn baht to the team.

The list of sponsors also included Yamaha (1mn baht), Leo Beer (1.5mn baht), I Mobile (1mn baht), Idea 8 broadcasting (200,000 baht), Siamsport broadcasting (400,000 baht) and sponsor advertisement (800,000 baht).

While a number of new sponsors have stepped forward to front at least 15mn baht to ensure that FC Phuket will be able to compete in Division 1 for the 2012 season, which begins next month, the management of funds this merry-go-round will have to be closely monitored if the club is to avoid the financial turmoil of last season.

Meanwhile, up and coming teams in Division 2 can look forward to continued financial support from the Thai government, which has allocated more than 110mn baht from the National Sports Development Fund.

Each of the 81 Division 2 teams will be given 1mn baht, with the remainder of funds to go towards competition organization, and prize pots.

The budget is being administrated and disseminated by the Thailand Sports Authority and Football Association of Thailand, with an additional amount of no less than 40mn baht also to be sourced from private sponsorship.

— Steven Layne

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Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

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Business

Thai Airways under pressure to deliver workable business plan

May Taylor

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Thai Airways under pressure to deliver workable business plan | The Thaiger

Thai Airways is coming under more pressure, after being given 30 days to deliver its new rehabilitation and business plans.

Thaworn Senniam, the Deputy Transport Minister, gave the instruction yesterday while meeting with the executive of the national carrier for an update on its financial status.

He says the business plan must provide clear information on how the fortunes of the airline can be turned around, with a focus on making it profitable once more, while improving customer satisfaction.

The order comes after Thai Airways President, Sumeth Damrongchaitham, denied last week that the airline was experiencing a liquidity crunch, claiming it had sufficient cash flow “for present and future operations”.

Minister Thaworn has previously said he does not believe Thai Airways’ existing rehabilitation plan will help it succeed in a turnaround. He has also ordered a monthly progress report on the carrier’s plans to buy new aircraft.

In September, the directors of Thai Airways asked the Executive Board to review a plan to order 38 additional aircraft, worth a total of 156 billion baht.

According to their second-quarter 2019 filing to the Stock Exchange of Thailand, Thai Airways and its subsidiaries reported a net loss of 6.878 billion baht, compared to a loss of 3.086 billion baht over the same period last year.

SOURCE: The Nation

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Business

World Economic Forum says lack of critical thinking in Thailand affecting competitiveness

May Taylor

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World Economic Forum says lack of critical thinking in Thailand affecting competitiveness | The Thaiger

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 in any markets, plus its unsafe drinking water, is affecting the country’s competitiveness.

The Nation reports that Singapore has come top in the ranking, overtaking the U.S. and Vietnam has shot up 10 places to 67.

The deputy secretary general to the PM for political affairs, Kobsak Pootrakool, responded to the findings, saying that as other countries improved their rankings, Thailand needed to work harder to ensure their progress didn’t cause it to slip backwards.

“It’s like a running competition – if our pace is slower, others will overtake us, so we have to run faster.”

The dean of the Chulalongkorn Business School, Assistant Professor Wilert Puriwat believes he knows what the country must do to improve competitiveness.

“The survey found that skills among new university graduates have declined, especially in the area of critical thinking. We’ve failed the exam and it can’t be fixed by simply retaking the test – we need to restart learning.”

Assistant Professor Wilert says Thailand needs to change the way students are taught, adding that the country’s score on critical thinking in the classroom was the world’s lowest at 37 out of 100 points. Finland comes first, with 89 points.

Wilert points out that Thai students routinely perform poorly on tests compared to foreign counterparts, which can be blamed on an old-school reliance on rote learning through memorisation.

The WEF is urging Thailand to adapt a model that encourages creative and critical individual thinking in the classroom instead. It also recommends improvements be made in staff training in Thailand, and more fostering of digital skills.

SOURCE: The Nation

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Business

Samsung Electronics flags 56% fall in third quarter profits

The Thaiger

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Samsung Electronics flags 56% fall in third quarter profits | The Thaiger

“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 the world’s largest maker of smartphones and memory chips.

It marks the fourth consecutive quarter in which the South Korean tech company has recorded a drop in profits in the face of falling semiconductor prices and weakening demand for its mobile devices. Sales for the third quarter were expected to drop 5.3% from the same period last year.

The South Korean tech titan leads the global smartphone market with a 23% share of the sector, trailed by Chinese competitors Huawei and Oppo, with Apple in fourth place, according to sales tracker IHS Markit.

Samsung withholds net profit and sector-by-sector business performance until it releases its final earnings report, which is expected later this month.

The firm is the flagship subsidiary of the giant Samsung Group, by far the biggest of the family-controlled conglomerates that dominate business in the world’s 11th-largest economy, and it is crucial to South Korea’s economic health. Analysts voiced optimism for the coming months, noting that falling inventory levels for semiconductors – which account for more than half of Samsung’s profit – will help stabilise chip prices after double-digit drops this year.

Sujeong Lim, an analyst at Counterpoint Research, said, that in the mobile business, Samsung took advantage of the US trade ban against Chinese rival Huawei, “replacing a strong competitor in crisis” with its mid-to-low tier Galaxy A handsets.

“The new A series has turned out to be an effective weapon to take share from its Android competitors.”

Samsung appealed to high-end users with the launch of its first foldable smartphone last month after faulty screens forced an embarrassing delay in April. The firm also rolled out its flagship Note 10 devices which analysts say have sold far better than its previous models, giving Samsung a much-needed boost in its mobile sales.

The premium smartphone market has grown fiercely competitive and overall sales have cooled as a lack of major innovation has caused people to wait longer before upgrading to new models. Samsung has also been caught up in a trade war between Japan and South Korea stemming from World War II disputes.

The row saw Tokyo impose tough restrictions on exports crucial to South Korean tech giants in July, and Samsung vice chairman Lee Jae-yong – who called the situation a “crisis” – has visited Tokyo to secure materials. Adding to Samsung’s woes, Lee is currently facing retrial over his role in a massive corruption scandal that brought down former president Park Geun-hye.

He was initially jailed for five years in 2017 on multiple convictions including bribery, which was reduced to a suspended sentence on appeal, only for the Supreme Court in August to order a retrial.

SOURCE: Agence France-Presse

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