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Phuket

Thailand may bow out of IMF program

Legacy Phuket Gazette

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Thailand may bow out of IMF program | The Thaiger

BANGKOK, Aug 17 (AFP) – Thailand has enough foreign reserves to bow out of its IMF program and abandon the remaining 3.7 billion dollars available in loans under the rescue package, Deputy Prime Minister and Commerce Minister Supachai Panitchpakdi said today. The International Monetary Fund (IMF) has disbursed about 13.5 billion dollars to Thailand out of its 17.2 billion dollar loan package approved in August 1997. “If we have enough reserves, there is no need to commit to the IMF policies and we can terminate if we want,” Supachai said. “Reserves are not the most critical issue any more,” he told reporters ahead of a weekly cabinet meeting. Thailand’s foreign currency reserves stood at 31.9 billion dollars at the end of July. “The money from the IMF is only to shore up reserves. Now the finance ministry is considering whether to go ahead with further drawdowns from the IMF,” Supachai said. In May, Finance Minister Tarrin Nimmanahaeminda said it was too early to consider abandoning the unused balance of Thailand’s package. Tarrin said Thailand would discuss with IMF officials in August whether Bangkok would continue to receive funds. Thailand signed the agreement with the IMF two years ago this month after its economy plunged into crisis in the wake of the de-facto devaluation of the baht. Under the rescue plan, Thailand agreed to make sweeping changes to its economic infrastructure, a number of key elements of which have not as yet been accomplished.



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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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