thegreglowe.com

By GREG LOWE IN BANGKOK THAILAND’S electrical and electronics industry – the country’s biggest exporter – will suffer a big drop in export sales this year, costing up to 100,000 jobs, analysts say. Total electrical and electronics exports will drop 10 per cent to about US$45 billion, according to Sasipen Bhurapanich, an analyst at Kasikorn […]

[Read more →]

By GREG LOWE IN BANGKOK THAILAND will extend a lifeline to small and medium-size enterprises (SMEs) and export-related businesses through an eight billion baht (S$347 million) loan insurance scheme. Industry and economists have welcomed the anti-recession initiative but say more must be done to boost productivity and win support from commercial banks.

[Read more →]

The global recession and the fallout from last year’s astronomic oil prices have forced the Scandinavian national carrier SAS to restructure, shedding some 3,000 staff from its payroll. Despite the cutbacks, the company maintains its commitment to making air travel greener and has no plans to downsize locally, says Bangkok-based Hakan Olsson, the company’s director […]

[Read more →]

By GREG LOWE IN BANGKOK PLUMMETING exports saw traffic through Thailand’s prime cargo port continue to decline last month, painting a dim picture for the country’s shipping industry this year. Experts warn that cargo volumes may decline by up to 25 per cent this quarter and 10 per cent over the year. Laem Chabang deep […]

[Read more →]

Thailand’s Eastern Seaboard (ESB) zone’s fundamentals are strong enough to weather the global recession and to maintain its position as a regional hub for manufacturing, petrochemical and export-based industries, according to industry experts. They say its solid infrastructure, logistical facilities and utilities, underpinned by highly competitive Board of Investment (BOI) privileges and a relatively cheap, […]

[Read more →]

By GREG LOWE IN BANGKOK DOMESTIC political unrest dealt a severe blow to Thai business sentiment, driving it to an all-time low last month, recent reports reveal. Surveys published in January show local confidence is eroding faster than in other regional markets. And the Industries Sentiment Index plunged to 62.9 per cent in December – […]

[Read more →]

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 […]

[Read more →]

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 […]

[Read more →]

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 […]

[Read more →]

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 […]

[Read more →]