business
- Best of
Top 10 Digital Marketing Agencies In Thailand (2024)
Are you searching for a trustworthy digital marketing agency in Thailand? The digital marketing industry is highly competitive, especially in Thailand’s tropical paradise, where picturesque photo opportunities are around every corner. It really is a content creator’s dream. But how do you go about finding the best of the best without having to endlessly scroll through brands you aren’t sure…
- Business News
Business events sector in Thailand set for a boost with projected tourism rebound
The business events sector in Thailand is set to benefit from the buoyancy of the country’s tourism industry and a new influx of trade shows this year, fuelled in part by the country’s stable political environment, according to specialists at Informa Markets Thailand. Sanchai Noombunnam, who helms the firm in Thailand, drew attention to predictions that the country would recoup…
- World News
UK seals deal to join trans-Pacific trade group CPTPP
It was officially announced today that the United Kingdom signed the treaty enabling its inclusion into the prominent trans-Pacific trade group, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This development marks the addition of the first new participant into this significant pact since its establishment in 2018. As the doors open for the UK, the stage is now…
- Business News
Thai businesses call for swift government formation
A speedy establishment of a new administration is of paramount importance, according to the business community amid ongoing political uncertainty. Chookiat Ophaswongse, an honorary president of the Thai Rice Exporters Association voiced concerns over the nebulous political situation, indicating the future of Move Forward Party leader Pita Limjaroenrat as the next prime minister is uncertain, making the country vulnerable to…
- Business News
High-end watch demand increases among younger Thai generation
A constant evolution and inherent value have ensured a secure niche for high-end watches in today’s market, said Narun Thamavaranukup, the managing director of watch distribution company, PMT The Hour Glass. With smartphones ubiquitous, one might think wristwatches would lose their charm. However, as Narun says, these timepieces are more than mere instruments to tell time. For Narun, watches play…
- Politics News
Thai political truce sparks hopeful business and economic recovery prospects
Thailand‘s business leaders anticipate a more positive path for the Move Forward Party (MFP) and its seven ally political parties to constitute a government and address economic challenges, following the agreement on a House speaker. The MFP had earlier been engaged in disputes with the Pheu Thai Party over this significant role in the House of Representatives. The conflict was resolved…
- Business News
Buying a franchise Vs buying a business: The benefits and drawbacks of each option
Are you considering starting your own business? Do you have the motivation and desire to be an entrepreneur but are unsure of which route to take? Buying a franchise or buying a business are two popular options for aspiring entrepreneurs. Both have their own set of benefits and drawbacks. In this article, we’ll explore the benefits and drawbacks of each…
- Business News
Teka Construction shifts focus to non-condo projects for revenue growth
Teka Construction Plc is shifting its attention towards non-condominium projects, housing developments, and construction materials in an effort to decrease its dependence on high-rise residential projects. Chief Financial Officer Suphon Chongchintaraksa revealed that the company plans to broaden its scope and clientele to encompass various construction projects, including international schools, warehouses, shopping centres, and government sector developments. “Construction work in…
- Business News
Sky ICT’s subsidiary Pro Inside eyes Stock Exchange of Thailand listing
Sky ICT, a SET-listed aviation technology firm, is planning to list its wholly-owned subsidiary Pro Inside on the Stock Exchange of Thailand in early 2024, in a bid to create a new long-term revenue stream. Pro Inside, an intelligent system integrator, was separated from Sky ICT last year to focus on bidding for state projects. Pro Inside CEO Benyapa Chalermwat…
- World News
UBS set to complete Credit Suisse takeover, creating $1.6tn Swiss banking giant
Today, UBS announced its expectation to finalise the acquisition of Credit Suisse by June 12, forming a colossal Swiss bank with a US$1.6 trillion balance sheet. The completion of the takeover is contingent on the registration statement being declared effective by the US Securities and Exchange Commission and other remaining closing conditions. “UBS expects to complete the acquisition of Credit…
- Business News
Lee Kum Kee eyes Thai ready-to-eat market expansion (video)
Asian sauce and seasoning manufacturer Lee Kum Kee Sauce Group is exploring opportunities to enter Thailand’s ready-to-eat food market through collaborations with local partners. Having been in the industry for 135 years, the company recognises the growth potential in this sector as it caters to the demands of busy consumers seeking convenience. Cheryl Chan, the regional marketing director of Mahsuri…
- Business News
Prudential Thailand hits record Q1 results, joins top six insurers
Prudential Life Assurance (Thailand) achieved a record-breaking first quarter in 2023, with the highest weighted first-year premiums in the company’s history, propelling it into the top six insurance providers in the country. During the first three months, the firm’s weighted first-year premiums grew by 36% year-on-year, surpassing the market growth of 17% and raising its market share from 5.7% in…
- World News
Finance Ministry revokes Asia Wealth Securities licence for misusing client funds
The Ministry of Finance has withdrawn Asia Wealth Securities‘ (AWS) securities business license following a recommendation from the Securities and Exchange Commission (SEC) due to the unauthorised use of client funds. The SEC discovered that on November 14, AWS had improperly utilised 154 million baht of clients’ funds to buy shares of More Return (MORE) from Thailand Clearing House without…
- Business News
Minor Hotels to reach 600 properties amid optimistic tourism outlook
Minor Hotels is set to expand its portfolio to 600 properties across 59 countries, with over 91,000 rooms this year, as the global tourism industry shows signs of recovery following the easing of Covid-19 infections. Dillip Rajakarier, Group Chief Executive of Minor International Plc and Chief Executive of Minor Hotels, believes that pent-up demand will drive the industry for years,…
- Business News
Thailand’s MPI growth faces stagnation amid export slowdown and high costs
The Manufacturing Production Index (MPI) in Thailand is predicted to experience subdued growth of 0-1% this year, owing to a combination of domestic and international business challenges. The April MPI reading was the lowest in 34 months, with an 8.14% year-on-year drop to 83.5 points, marking the seventh consecutive decline since October last year, according to the Office of Industrial…
- Business News
Nvidia valuation drops despite rally as earnings estimates outpace share price
Nvidia Corp’s impressive stock rally in recent days has seen the chip developer’s valuation decrease, as measured by the forward price/earnings (P/E) ratio. Over the last three sessions, the company’s stock has risen more than 31%, with a 3% gain reaching $401.11. Despite this, Nvidia’s P/E multiple has fallen due to Wall Street’s earnings expectations for the company rising even…
- Business News
Toyota motor Thailand bracing for car sales slump amidst political uncertainty
Toyota Motor Thailand predicts a further decline in car sales this month due to the ongoing political uncertainty surrounding the formation of a new government and its policies. Thailand held a General Election on May 14, with the Move Forward Party (MFP) securing the most seats in the House of Representatives. However, it is still uncertain whether the party can…
- Business News
Temasek cuts staff pay after failed FTX crypto investment
Singapore-based investment company Temasek has announced that its investment team and senior management experienced a reduction in compensation following the firm’s failed investment in cryptocurrency company FTX. Temasek Chairman Lim Boon Heng stated that despite no misconduct by the investment team, they took collective accountability for the outcome. In November, Temasek Holdings revealed that it would write down its US$275…
- Business News
Netflix expands password crackdown to US and 100+ countries
In an effort to tackle password sharing and increase revenue, Netflix has expanded its crackdown on account sharing to the United States and over 100 other countries, including the United Kingdom, France, Germany, Australia, Singapore, Mexico, and Brazil. The streaming giant has been seeking new ways to generate income as it faces potential market saturation, with measures such as limiting…
- Business News
Dyson aims to double product range, expand beyond home innovations by 2025
Dyson, renowned for its innovative household appliances, has been focusing on making everyday tasks more efficient and convenient for users. The development of such cutting-edge products often takes years and numerous prototypes, with Dyson’s bagless vacuum cleaner taking over five years and 5,127 prototypes to perfect. The company’s entrance into the beauty market with its hair dryer involved four years…
- World News
Singapore firms eye Central Asia’s growing consumer market for expansion
Central Asia, a region known for its landlocked countries, may not be the most obvious choice for Singaporean businesses looking to expand their horizons. However, Enterprise Singapore (EnterpriseSG) believes that the area’s growing consumer market and young population can offer early-mover advantages for companies, particularly in sectors such as urban infrastructure, technology, and innovative consumer products. Despite Central Asia’s strategic…
- Business News
Sony considers spinning off financial arm to focus on entertainment, sensors
Sony Group Corporation announced today that it is exploring the possibility of a partial spin-off of its financial business, Sony Financial Group, just three years after obtaining full control. The move comes as the conglomerate focuses on strengthening its entertainment and image sensor sectors. Sony is considering a two to three-year timeline for the spin-off, with plans to list the…
- Guides
Thailand Market Entry in 2023 : a Crash Course
Sponsored (In collaboration with AJ Marketing) Welcome, fellow adventurers of the business realm, to our guide on navigating the captivating landscape of the Thailand market! At AJ Marketing, we understand the allure and potential of expanding your business horizons in this country. Thailand, the Land of Smiles, has long been recognized as a prominent player in Southeast Asia’s economic powerhouse.…
- Business News
FTI urges swift Thai coalition to back high-tech hub and green growth
The Federation of Thai Industries (FTI) is preparing a position paper outlining the economic policies favoured by businesses, with plans to submit it to the newly formed government once it takes office. Montri Mahaplerkpong, the FTI vice-chairman, stated that the paper is in its final stages and should be approved by the end of the month. The document will highlight…
- Thailand News
Thailand’s economy defies global recession fears with post-election boost
Thailand’s economy is predicted to gain momentum during the last three quarters of this year, despite the looming threat of a global recession, partly due to the boost from the May 14 General Election, according to analysts. The country’s GDP growth for the first quarter was 2.7% year-on-year, surpassing the expected 2.3% and marking an improvement from the 1.4% growth…
- Business News
Southeast Asia and China top destinations for overseas business expansion in Asia
Southeast Asia and China are now the top choices for overseas expansion, with 83% of Asian businesses expressing interest in venturing abroad, as revealed in a recent report. The Business Outlook report, conducted by United Overseas Bank (UOB), surveyed over 4,000 small and medium-sized enterprises (SMEs) as well as large organisations in Asia. The study showed that over four out…
- Tourism News
Thai tourism rebound evident with surge in new business registrations
Thailand’s tourism sector has witnessed a strong rebound, as evidenced by the significant surge in new registrations for tourism-related businesses during the initial four months of this year. The Ministry of Commerce revealed yesterday that the number of new tourism-related business registrations had doubled year-on-year, reaching 2,579 in the first four months, with a total registered capital increase of 135%…
- Business News
UFC Gym eager to re-enter Singapore market after sudden closure of franchise
UFC Gym has expressed its keen interest in returning to the Singapore market and is committed to offering support to customers affected by the unexpected closure of its franchise in the country, according to CEO Adam Sedlack. He highlighted that Singapore continues to be an attractive market for the UFC Gym brand and their unique training approach. Members of UFC…
- Business News
Canon targets 10% revenue growth in Thai printer market with new laser models
Canon Marketing (Thailand), the local branch of the Japanese technology company, has set a target of achieving a 10% revenue growth for its printer business this year, while simultaneously launching new laser printer models in the market. Thailand ranks as the fourth largest growth market in Asia-Pacific for both inkjet and laser printers, following India, Indonesia, and the Philippines. The…
- Business News
Thai, Bangkok Airways report first-quarter earnings surge
Thai Airways International Plc and Bangkok Airways Plc have experienced a significant increase in their first-quarter earnings as tourists return to Thailand in growing numbers. Thai Airways reported a net income of 12.51 billion baht for the three months through March, a considerable improvement from the 3.25 billion baht net loss they incurred during the same period last year. Meanwhile,…
- Business News
Kasikornbank halts plans to sell stake in asset management business
Kasikornbank (KBank) Public Company Limited, the second-largest lender in Thailand, has put the plans to sell a share in its asset management business on hold, according to individuals familiar with the situation. Negotiations between KBank, based in Bangkok, and several prospective buyers have reached an impasse due to disagreements on terms of a potential agreement, said those familiar with the…
- World News
Streaming platforms battle for anime market dominance
As anime’s popularity continues to reach new heights, major streaming platforms are vying for dominance in the lucrative market. Fuelled partly by the pandemic, this animated genre has grown into a multi-billion-dollar industry, with the global market valued at US$28.6 billion in 2022, according to Grand View Research, and expected to double by 2030. Aya Umezu, CEO of Tokyo-based entertainment…
- Business News
China’s shrinking birth rate impacts baby product manufacturers
A decline in China’s population is creating a challenging environment for the country’s baby and children’s product manufacturers, as domestic sales plummet and companies grapple with finding alternative revenue streams. As the world’s largest market for baby food and diapers, valued at US$37.9 billion annually, prepares to contract for the first time, firms are turning their attention to products for…
- Business News
Thailand targets high-spending Middle Eastern tourists for tourism growth
The Tourism Authority of Thailand (TAT) is focusing on attracting high-spending visitors from the Middle East in the latter half of this year, with the goal of utilising this market as a new tourism growth engine. Apichai Chatchalermkit, TAT’s deputy governor for tourism products and business, has stated that since Thailand re-established full diplomatic relations with Saudi Arabia in early…
- Business News
Fast food slows down amid technology advancements and post-pandemic challenges
Fast food restaurants have long been associated with swift service and short wait times. However, recently in Singapore, a student had to wait for around ninety minutes for her McDonald‘s meal, sparking debate online as to why the fast food industry appears to be slowing down despite the growing use of self-service technologies. The traditional fast food model of operation…
- Business News
Thailand and UAE launch first free trade agreement
Thailand and the United Arab Emirates (UAE) revealed the launch of their first free trade agreement (FTA) on Tuesday. The FTA aims to create new opportunities for trade, services, and investment between the two nations, expecting to boost bilateral trade by 10% within the first year of implementation. Commerce Minister Jurin Laksanawisit and the UAE’s Minister of State for Foreign…
- Business News
OCBC reports record net profit in Q1 as strong net interest income growth boosts earnings
Singapore‘s second-largest lender, Oversea-Chinese Banking Corp (OCBC), has reported a 39% increase in first-quarter profit compared to a year ago, driven by robust net interest income expansion. OCBC, also the second-largest bank in Southeast Asia by assets, revealed a net profit of US$1.42 billion between January and March, up from US$1.02 billion during the same period last year, significantly surpassing…
