Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
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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: Andaman motor show drives sales; Limited companies spike
PHUKET: THE 14th Andaman Motor Show, organized last week at HomeWorks, opposite Central Festival Phuket, concluded with one of its most vibrant years in car sales. The six-day event, this year under the theme “Summer on the Beach”, ended on Wednesday. “We don’t have final figures for the overall number of car loan applications yet, but I have to admit…
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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: Krabi shaping up as an oil hub
PHUKET: Agricultural development initiatives look to position Krabi province as a new regional and world hub for the production, supply and retail of palm oil.When the Asean Free Trade Agreement (AFTA) comes into full effect by 2015, traders and merchants from Malaysia, Indonesia, the Philippines, Vietnam, Cambodia, Myanmar and Laos will enjoy tariff-free trading of most Asean-produced goods and commodities,…
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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 gears up for PIMEX 2012
PHUKET: The Phuket International Boat Show (PIMEX), to be held March 29 to April 1 at the award-winning Royal Phuket Marina, is set to showcase top global boat brands. The leading consumer boat show in Asia, PIMEX has the largest in-water boat display. More than 50 boats representing the leading boat brands from around the world, will be on display.…
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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: Multi-billion baht deal signed
PHUKET: Ruea Yacht, the luxury yacht building division of Phuket-Bangkok based Yacht Solutions, has joined forces with Northrop and Johnson – one of the world’s largest independent yacht brokerage firms. Highlighting the increased demand, supply and overall growth in Thailand’s superyacht industry, the new partnership will generate billions for the local economy. Director of Northrop and Johnson said: “Over the…
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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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Tourists from Taiwan to Phuket to double in 2012: PTA
PHUKET: The number of Taiwanese tourist arrivals in Phuket this year is expected double last year’s figure, a senior government official has announced.Paiboon Upatising, currently caretaker president of the Phuket Provincial Administration Organization (OrBorJor), said that the island can expect up to 100,000 Taiwanese arrivals in 2012 – compared with 50,000 last year.The projections were announced following the “Phuket Road…
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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: FC Phuketonomics: ball business
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…
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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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Phuket Business: Toyota Sure opens shop
PHUKET: With so many new cars hitting the streets, the island’s used car and trade-in market is rapidly growing – particularly good news for car owners having second thoughts about a recently purchased or leased vehicle. Benchmarking market growth, Phuket’s Toyota Pearl recently held the soft opening of Toyota Sure, the brand’s renowned second-hand car dealership, located off Chalermprakiat (Bypass)…
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Phuket Business: Medical tours vital to economy
PHUKET: Medical tourism in Phuket is flourishing and contributing greatly to the local economy, a representative from one of Phuket’s major international hospitals has said. Speaking exclusively with the Phuket Gazette, Peter Davidson, assistant manager of international services at Phuket International Hospital, said that “the number of people coming to Phuket for dental work and plastic surgery continues to expand…
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Phuket flower shops report blooming sales
PHUKET: Flower shops in Phuket are doing brisk business today, St Valentine’s Day 2012. Many flower shops report record orders for floral arrangements, from both inside Phuket and off-island. Classic red roses remain the most popular items among the adults, while teddy bears and chocolates are increasingly popular among teenagers. Flower shops in Phuket Town are displaying special flower arrangements…
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Phuket Business: Get ready for higher petrol prices
PHUKET: Now that we are fully into the swing of 2012, the Christmas tradition of goodwill to all men seems a lifetime away. When I get out of bed and go on my now regular morning beach run in Phuket – yes, my New Year’s resolution is still being adhered to – global problems seem to be a million miles…
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Phuket Business: Cool solutions to cut costs
PHUKET: Despite rising energy prices and the scorching heat outside, home and business owners in Phuket can reduce their electric and utilities overheads by taking advantage of the latest energy saving innovations. Up until recently, Phuket’s green energy market has been supplied with only a limited offering of environmentally friendly technologies and energy saving solutions. Notably, a handful of key…
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