business
- Property
Central Pattana reports B7.1 billion profit in 2021
Central Pattana, a retail and property developer in Thailand, made 7.1 billion baht in net profit and received 28.9 billion baht in revenue in 2021, despite Covid-19 challenges. CPN’s Chief Financial Officer described 2022 as another difficult year for the company since the pandemic has had a greater impact on customers’ lifestyles and numerous businesses than the previous year. “The…
- Property
Bangkok office owners face flood of new competition – CBRE
As the office sector experiences its lowest net take-up rate, Bangkok landlords should upgrade their existing properties and provide better and more flexible leases to lure renters, before a massive amount of new places start to open, stated consultancy firm CBRE Thailand. The pandemic has had the most significant impact on Bangkok office spaces since the 1997 financial crisis. “There…
- Property
SC Asset to develop 27 domestic projects in 4 years, targets 100 billion baht in revenue
SC Asset Corporation aims to invest 40 billion baht to build new residential developments in Thailand totaling 130 billion baht between 2022 and 2025, with a revenue target of 100 billion baht over the next four years. Of the 130 billion baht the SET-listed developer intends to invest in new releases from 2022 to 2025, 20 billion baht would go…
- Bangkok News
Thailand’s retail giant Central plans 100 billion baht investment by 2026
Over the next 5 years, Southeast Asia’s largest retailer plans to invest 100 billion baht to grow its business even more. The Thailand-based Central Retail Corporation Pcl, which has more than 20 department stores and shopping centres across Thailand as well as two outlets in Indonesia, says the investment, which is around US$3.03 billion, is aimed at increasing revenue and…
- Visa Information
10-year visa to attract engineers and IT experts, boost technology development
The 10-year visa scheme for wealthy foreigners and highly-skilled professionals is expected to attract engineers and IT experts, potentially boosting technology development in Thailand as the country anticipates a shortage of digital workforce over the next few years. The long-stay visa scheme was approved in principle by the Thai Cabinet last month, targeting foreign investors, highly-skilled professionals and wealthy retirees…
- Thailand News
Streaming services rake in more than 815 million baht, emerge as new cash cow for Thai entertainment industry
The Department of International Trade Promotion announced on Tuesday that international streaming services like VIU, iQiyi, WeTV, and Netflix, alongside the Thai film industry, have earned Thailand more than 815 million baht. The news comes after the DITP held a meeting with members from international streaming providers and 15 Thai content creators to improve their relationship on January 27. This…
- World News
Regional low-cost carriers expand routes in Southeast Asia as travel slowly resumes
International flights in the Southeast Asia region continue to resume, with low-cost carriers expanding their routes as countries re-open. According to a TTR Weekly report, the Singapore Airlines subsidiary, Scoot, is resuming the Singapore – Ho Chi Minh route, with 4 round-trip flights a week. A twice-weekly service connecting Singapore and Hanoi is planned from February 22. Last week, Vietnam…
- World News
Laos government allows Chinese firm to dig rare earth minerals, locals concerned
Villagers in northeastern Laos have voiced concerns over losing their land to a Chinese firm that was recently approved by the Southeast Asian government to dig for rare earth minerals. A government source says some displaced villagers will receive compensation. Although the Lao Ministry of Plans and Development signed an agreement on January 21 allowing the Tong Lee Seung Industrial…
- World News
Citi to sell consumer banking business in Southeast Asia to Singapore’s United Overseas Bank
Citigroup announced on Thursday its agreement to sell its consumer banking operations in Thailand, Malaysia, Indonesia and Vietnam to United Overseas Bank (UOB) for approximately US$2.97 billion. UOB stated that as part of the agreement, it will acquire Citi’s retail deposit divisions, loan portfolios and wealth management, in the four countries’ consumer banking sectors. “We are excited to announce this…
- World News
Luxury Selfridges chain bought by Central Group and Austrian property firm
Thailand’s Central Group has bought the luxury British retail chain Selfridges in partnership with Signa, an Austrian property firm. According to a Reuters report, the deal is worth around UK£4 billion (180 billion baht). Central Group is owned by Thailand’s billionaire Chirathivat family, while the Signa group is owned by Rene Benko, an Austrian investor. Between them, they already own…
- Bangkok News
Booze sales are likely to be extended until midnight during Christmas and New Year’s
The hours on alcohol sales at restaurants might be extended on Christmas and New Year’s. Thai authorities are now considering pushing the hours for sales of beer and liquor from 9pm to 11pm or midnight. The proposal will be reviewed today during a meeting with government agencies and tourism associations, according to the Minister of Tourism and Sports, Phiphat Rachakitprakarn,…
- Thailand News
Vending machine industry sees resurgence thanks to pandemic
While Covid-19 resulted in Thailand’s overall economy suffering, a few select industries actually saw some impressive growth. The vending machine business is booming, and with demand rising companies like Sun Vending Technology Plc (SVT) are experiencing renewed popularity. The company reported massive growth this year and is making plans to expand. Senior vice president of SVT Pitsnu Chokwatana explained that…
- Business News
Mass lay-offs at Thai AirAsia as aviation sector continues to struggle
Thailand may have re-opened to international travellers, but the aviation sector continues to struggle as a result of the pandemic. Today, the Bangkok Post reports that Thai AirAsia has announced mass redundancies and extended furlough arrangements for many of its staff. Asia Aviation, the largest shareholder in TAA, says the outlook for the aviation sector remains unstable and the company…
- Business News
Air Asia boss: Recovery in 3 months if countries ditch quarantine, testing
The chief executive of the Air Asia Group says the aviation sector could return to normal in about 3 months, if governments ditch quarantine and PCR testing. Tony Fernandes says if countries can re-open without such requirements, demand will rise significantly. According to a Bangkok Post report, Air Asia has sold over 300,000 tickets to Langkawi since the island re-opened.…
- Business News
More cuts at Thai Airways as flagship carrier continues rehab process
The chairman of the Thai Airways rehabilitation plan says the airline is making good progress with cost-cutting exercises. Piyasvasti Amranand says Thailand’s national carrier has managed to recover 44.8 billion baht by cutting its workforce and ending aircraft lease agreements. “Thai Airways’ operational performance has progressed satisfactorily in many aspects, including cost reduction and organisational restructuring.” According to a TTR…
- Sponsored
Pacific City Club – Where business and leisure meet
Press Release Bangkok’s Most Prestigious Private Members Club Announces a Special Invitation The Pacific City Club is renowned for being the most prestigious and luxurious private members club in Bangkok since the early 1990s. Situated on the top three floors of the Two Pacific Place building on Sukhumvit Road, the Club is an oasis of calm in the bustling city.…
- Business News
Thai Airways to resume flights to countries with high vaccination rates
Thai Airways says it will start selling seats on flights to highly-vaccinated destinations from October 1. The struggling national carrier expects to resume flights to the UK, France, and Germany, as well as Japan and Australia. The Bangkok Post reports that airline bosses made the decision after several destinations reported vaccination rates of around 70%. Airline spokesman, Chai Eamsiri, says…
- Sponsored
Siam Piwat benchmarks MICE industry with “Virtual Inspection” solution, to reinforce its ‘The Icon of Innovative Lifestyle’ vision
Press Release Siam Piwat launches “Virtual Inspection” and “Online Reservation” for its convention spaces, a MICE industry benchmark. Offering absolute exhibition and event destinations, now event organizers from across the globe can virtually inspect the convention spaces and conveniently make instant online reservations. (Bangkok, 28 September 2021) Siam Piwat Co.,Ltd is the owner and operator of global retail destinations –…
- Guides
Top business and investment opportunities in Thailand
Investing in Thailand has many perks as the country is well on its way to modernisation. With an international community that has its own wants and needs, you can be sure to find a niche that will make you money. Here, we have the best businesses and investment opportunities in Thailand listed below. Thailand’s Top Business and Investment Opportunities 1.…
- Business News
Strapped for cash, Thai Airways puts 3 more aircraft up for sale
The beleaguered national carrier, Thai Airways International, is to sell 3 more aircraft in a bid to raise some much-needed funds. Also up for grabs is a flight simulator, as the airline continues with its rehabilitation plan and attempts to modernise its fleet. The Bangkok Post reports that the airline is selling 3 of its Airbus A330-300s, all of which…
- Covid-19 News
Officials say employees are to resume work, compensated accordingly following ease on restrictions
With restrictions easing in “dark red” zones tomorrow, the Department of Labour Protection and Welfare has declared that employees can go back to work with their normal compensation, according to Thai media sources. The department has declared that employers are required to summon all employees back to work and pay them accordingly. If employees are not paid their wages, their…
- Sponsored
Apply for a business visa in Thailand easily
Are you looking to attain a business visa in Thailand? Don’t worry as The Thaiger’s partner Tadoo is here to help. The business visa is great for those who are looking to enter Thailand for business meetings and/or conferences. Moreover, if you already have a job and are needing to relocate to Thailand with that company, then the business visa…
- Thailand News
OPINION: Why restaurants are so f**ked
Article by Guest Blogger Joelle Parenteau (This article contains some strong language that may offend some people) Covid 19 is about to kill restaurants by the thousands. This pandemic is the ultimate pressure test and restaurants are failing hard. Think about it: when we come out of this, your favourite food spots might not be there any more. Why are…
- Tourism News
KLM to increase flights to Middle-East, Asia as border restrictions ease
The Dutch carrier KLM plans to increase its flights to Asian and Middle-Eastern destinations as countries plan for a re-opening of their borders. According to TTR Weekly, the airline’s summer network is almost the same as in 2019, but with a reduction in the number of flights on offer as a result of the pandemic. The airline plans to introduce…
- Best of
Top 5 Tax Firms in Thailand
As a busy professional, maintaining your tax affairs may not be at the top of your daily list. However, whether it be personal or professional wealth, completing your financial statements and complying with tax regulations is essential. This is complicated even further if you’re an expat living in Thailand as you’ll have to navigate an unfamiliar tax system in new…
- Best of
Top 5 Marketing Agencies in Bangkok
If you are looking to elevate your business, you may need a marketing agency. Thailand has hundreds of marketing firms to choose from. These range in size from small, niche marketing companies to large, full-service marketing agencies. With so many options, narrowing down your search to find the right agency can be difficult. This decision is especially important as a…
- Business News
Another 700 7-Eleven stores to open across Thailand
The operator of the 7-Eleven chain of convenience stores has confirmed it will open another 700 shops in the Kingdom this year. According to a Bangkok Post report this morning, CP All plans to spend between 11.5 and 12 billion baht on expansion in 2021. The company has opened 155 new 7-Eleven stores so far this year, meaning there were…
- Business News
No government bailout for Thai Airways
A final meeting for a vote on the Thai Airways debt restructure program is set for this Wednesday after being postponed last week. Meanwhile, a source close to those managing Thai Airways’ debt rehab plan, says the state is not obliged to provide a bailout for the national carrier. The Bangkok Post reports that Chansin Treenuchagron, acting president for Thai…
- Thailand News
Thai Airways debt restructuring vote pushed back to next week
The vote on Thai Airways International’s debt restructuring plan has been postponed and rescheduled for next week. The national airline needs the plan to be approved by more than 50% of creditors to move forward with the bankruptcy proceedings. The airline’s total liabilities stack up more than 300 billion baht. With flight suspensions over the past year brought on by…
- Business News
Thai Airways’ creditors to vote on rehab plan today
Today is D-Day for Thai Airways, with 13,000 creditors voting on whether or not to accept the struggling airline’s rehabilitation plan. According to a Bangkok Post report, a source at the airline has warned that should creditors reject the plan, the carrier will be declared bankrupt and they would only receive 12.9% of what they’re owed. In the event of…
