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By GREG LOWE IN BANGKOK THAI banks face a deteriorating outlook for this year, despite having shown resilience against the effects of the global slowdown last year, but the worst is yet to come, according to analysts. Lower provisioning and higher loans growth saw Thailand’s banking system report higher average return on assets (ROA) of […]

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By GREG LOWE IN BANGKOK THAILAND’S domestic auto sales are expected to plunge another 15.4 per cent this year, says the country’s biggest car maker. But industry observers reckon the decline could be worse. While the country’s economic fundamentals remain sound and its low-car ownership rate offers strong sales opportunities, the effects of the global […]

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By GREG LOWE IN BANGKOK ECONOMISTS lambasted the Thai government’s 115 billion baht (S$4.9 billion) fiscal stimulus package for being populist and insufficient to revive the country’s failing economy, when it was announced last week. Prime Minister Abhisit Vejjajiva defended the 18-project supplementary spending budget, which includes 19 billion baht in one-time handouts to low-income […]

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By GREG LOWE IN BANGKOK THAILAND’S central bank yesterday slashed its key interest rate by 75 basis points, in line with market expectations, to offset the effects of the global downturn on an increasingly sluggish domestic economy. And a further rate cut is expected soon. The Bank of Thailand’s monetary policy committee (MPC) reduced its […]

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By GREG LOWE IN BANGKOK THE luxury condominium market will dive next year as the global economic downturn continues to dry up the much-needed pool of cash-rich foreign investors, local property analysts said. They predict that luxury condominium prices would drop by 10-20 per cent in the first half of 2009. Current high prices will […]

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Thailand´s property market will be hit by the double impact of domestic politics and global economic turmoil next year, but while both prices and demand may fall by up to 20 percent as the Thai economy falters, the market´s sound fundamentals will continue to provide solid medium to long term profits for cash-rich investors. The […]

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By GREG LOWE IN BANGKOK THAILAND’s economic fundamentals are sound enough to ride out the global financial crisis, though the domestic political turmoil is making a bad situation worse, experts say. Consumer fears: Thai consumers are now more fearful of the future than when they were living under military rule last November, says Moodys Economy.com

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By GREG LOWE IN BANGKOK THAILAND’S biggest mobile phone operator has denied reports that it has slashed its 3G budget because of the credit crunch. But it has ‘consolidated’ its plan to roll out 3G technology because of red tape, its president said.

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By GREG LOWE IN BANGKOK CONVENTIONS and exhibitions in the region will weather the global financial storm, despite a drop in delegate attendance, but corporate meetings and incentive travel will plummet as budgets are cut, those in the industry say.

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by Greg Lowe Thailand´s property market will see little direct impact from the Lehman Brothers sell-off and corresponding US financial crisis, according to local analysts, but secondary knock-on effects may crimp sales, particularly at the top end. Lehman Brothers Holdings, one of America´s oldest investment banks, went bankrupt last September, with assets worth US$613 billion […]

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