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Phuket

Sharply rising costs hit Laguna profits

Legacy Phuket Gazette

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Sharply rising costs hit Laguna profits | The Thaiger

PHUKET: Laguna Resorts & Hotels plc (LRH) saw its net profit drop 21% in the first quarter of 2000, compared with the same period of 1999. The drop, management explained, came mainly as the result of sharp increases in hotel operations and sales costs, and administration expenses. LRH made a profit of 143.6 million baht in the period, compared with 182.4 million baht last year. Total revenues over the three-month period rose from 700.8 million baht in 1999 to 781.9 million baht this year, an increase of 11.6%. According to the company’s letter of explanation of changes in profit submitted to the Stock Exchange of Thailand, the increase was due to higher revenue from hotel operations, resulting from a 21% increase in average room charges. Total outgoings, however, rose by 68.1 million baht (15.6%), from 436.6 million baht in 1999 to 504.7 million baht this year. Almost all of the increase came from hotel operating expenses, which rose by 64.2 million baht due to the higher costs of supplies and materials together with previously deferred items of expenditure, such as repairs and maintenance now being performed. Sales and administration costs rose from 15.9 million baht to 40.2 million baht due to a rise in provision for dubious debts on property sales. Total expenses would have been much greater had it not been for reduced losses on foreign exchange and lower interest payments. Seven million baht was saved thanks to lower US dollar loans outstanding and a more stable currency. A further 21 million baht was saved through lower prevailing interest rates and a lower debt principal; at the end of the first quarter of this year, LRH had 538.7 million baht in long-term debt outstanding, compared with 801.8 million baht a year ago. In all, LRH was still able to show a net profit before tax of 280.7 million baht in the first quarter, higher than the 267.8 million baht of the same period last year. Taxes, however, made a big dent in the final earnings – the company paid the taxman 70.5 million baht compared with 30.4 million baht last year. According to the letter to the SET, the 40.1 million baht rise in tax was due to higher taxable incomes in each of the operating units, added to tax losses carried forward from 1999. Lastly, there were payouts totaling 66.6 million baht to minority interests in subsidiaries majority-owned by LRH, indicating that the subsidiaries had a healthy first quarter.



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Phuket

Motorbike driver smashes through glass window after accelerator malfunctions

Kritsada Mueanhawong

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Motorbike driver smashes through glass window after accelerator malfunctions | The Thaiger

A female motorbike driver has sustained injuries after her motorbike’s hand grip malfunctioned and she collided with a glass wall.

Chalong Police were notified of the incident at an air conditioning shop at 6pm yesterday on Chao Fa West Road in Chalong.

Police and emergency responders arrived and found the shattered glass wall and a damaged motorbike.

The injured 40 year old Naowarat Jankarn had already been taken to Chalong Hospital. She sustained injuries from cuts from the broken glass. polls of blood were found on the floor.

Ms Naowarat told police that she had parked her motorbike in front of the shop since Wednesday . The motorbike was underivable because the hand grip accelerator was malfunctioning.

Yesterday she started the motorbike, claiming she had forgotten about the broken accelerator.

Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger

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Phuket

Police hunting for driver who threatened others with a gun on Phuket road – VIDEO

Kritsada Mueanhawong

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Police hunting for driver who threatened others with a gun on Phuket road – VIDEO | The Thaiger

PHOTO: Tiw Tiw

The Thalang Police are hunting for the driver who was threatening other motorists on Thepkrasattri Road by waving a gun around out of the driver’s window of his red sedan in Thalang this morning.

A Facebook user ‘Tiw Tiw’ has posted the video with a message reading “where are the police, please follow him. The incident happened this morning in Thalang.”

The video shows a car switching from one lane to another.  The driver shows a gun in his car window and then appears to throw it out (at least he used his indicator).

The Thalang Police are investigating the incident and want to find the car driver for questioning.

 

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Phang Nga

Phuket’s hotel and property players look north

Bill Barnett

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Phuket’s hotel and property players look north | The Thaiger

by Bill Barnett of c9hotelworks.com

One of Greater Phuket’s real estate and hotel market’s that has a decided buzz of late is the area north of Phuket over the Sarasin bridge in Phang Nga.

In Natai Beach, the entry of the Baba Beach Club and nearby Akyra has created renewed visibility for the broad West Coast stretch of white sand beach, extending north beyond Phuket.

Two upscale hotels are in the development phase in the vicinity, with one being flagged to an international hotel operator.

Up at the 1,000 plus rai Thai Muang mega-project, movement is once again underway, as is a nearby massive Japanese-led mixed-use project including a golf course.

Land values are currently running amuck in the Koh Kloi area where the AOT (Airports of Thailand) has reportedly acquired land for an upcoming Phang Nga airport which will provide Phuket with a second gateway alternative.

Premium land transactions are taking place, with the most notable being the recent trade of the former oceanfront site in Bodan that was to be at various stages first a Raffles and later a Ritz-Carlton Reserve.

Looking at Phuket’s light-rail initiative, one knock-on effect will be the eventual linkage between the island and larger connection to a broader rail terminus in Koh Kloi. This will likely spur real estate speculators to acquire peripheral locations.

As Phang Nga’s West Coast four land highway expansion moves forward to Khao Lak and beyond, Phuket’s Northern neighbor is seeing a renewed push in its tourism, property and infrastructure.

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