Over 1,300 factories were up for sale or out of business in first 10 months of 2019

[RobbyXNorway]

28 minutes ago, Dene16 said:

Every year for the last 10 years according to everyone on here and i'm still waiting

I certainly don't expect it happening soon 

Over that time numerous companies have relocated factories to Thailand and is still an attractive proposition for many, regardless of the bahts strength

Hundreds of expats/ wannabe economists have consulted their crystal balls with stories of doom and gloom but not one has yet to be correct

 

 

 

 

The main reason it has not happened yet is the big Central Banks fudging the markets. But they are overstretched and has no room to maneuver now. Negative interest rates is an LSD halucination put to life. Complete and utter insanity.

 

I am debating adding to my silver/gold coin stash. 50% cash and 50% silver/gold coins.

 

Once the Central Banks pull back, its game over for the global economy. All export-heavy economies will suffer tremendously. You can already see the car manufacturing is sliding hard. It will get ugly. Really ugly.

[atyclb]

17 hours ago, yogi100 said:

It's not just factories that are struggling and it's all because of the strong baht.

 

I got talked into buying a girl a bottle of San Miguel beer last night at a cost of 140 baht (nearly four quid in UK money) That's in an open air beer bar! I won't be doing that again in a hurry.

 

That same beer in the same bar was 130 baht the last time I was in Pattaya in July. It's now the start of high season and that bar is not much busier than it was back then.

 

Punters can't afford these prices any more than foreign importers can afford to buy Thai exports at such inflated prices.

 

san miguel beer in phillipines is dirt cheap and if theres no import duty due to asean dont kow why so expensive in thailand

[KenKadz]

17 hours ago, yogi100 said:

It's not just factories that are struggling and it's all because of the strong baht.

 

I got talked into buying a girl a bottle of San Miguel beer last night at a cost of 140 baht (nearly four quid in UK money) That's in an open air beer bar! I won't be doing that again in a hurry.

 

That same beer in the same bar was 130 baht the last time I was in Pattaya in July. It's now the start of high season and that bar is not much busier than it was back then.

 

Punters can't afford these prices any more than foreign importers can afford to buy Thai exports at such inflated prices.

When Thai businesses do not make enough profit they raise the price! Thainess!

[joecoolfrog]

6 hours ago, Andrew65 said:

The flip-side being that this is very good for Thais buying things overseas.

I was first in Thailand in 1985 when it was dirt cheap, it just ain't any more. A much wealthier country, for one thing.

Well yes the strong baht is a boon for wealthy Thais but bad news for the huge majority of their fellow citizens. In short one of the most unequal wealth societies worldwide becomes even more so , not a good future indicator of societal bliss.

[Isaan sailor]

This is just the tip of the iceberg.  Look at the Baht now.  Compare that with three years ago, when Prayut started dancing with the ChiComs.  And Bank of Thailand started pitching their hot money bond sales to foreign entities.  Damage done, take a bow, guys—you have destroyed the economy—on purpose it seems.

[Bastos60]

19 hours ago, steven100 said:

agree ....  however this is not only happening in Asia it is the same in Australia. Many large companies closing or going bust, building companies, banks laying off staff, retail sales has actually gone into recession, the global downturn in every economy is starting to hit and I believe things are going to be dire for years to come.

 

This is the current and future situation for countries that heavily rely on exports for their economy. 

In Europe it is Germany that is feeling the pinch since it is a major exporter for Europe. 

With the brexit around the corner, more countries will experience slight downturns, while the UK heavily relies on the increased exports after the brexit has been concluded.

Other European countries relying less on exports already have passed the worst, Greece has its economy growing again but again relying heavily on (domestic - European) tourism.  Will it improve for the long run, no, there will be a slight upturn in the nearby future, but if the biggest exporter of the world won't open up their market more to foreign competition, the world economy will keep going in decline. 

[TPI]

9 hours ago, Denim said:

Relax. All part of returning happiness to the people. The thinking is that by mismanaging the economy , the government will cause more unemployment and the working classes will have a lot more free time to pursue their hobbies or wander aimlessly around shopping malls window shopping.

Damn! Why didn't I think of this before?

[khunpa]

No worries! I am sure this will be solved by the brilliant financial minds in charge.

 

 

[ttrd]

RE - Over 1,300 factories were up for sale or out of business in first 10 months of 2019

 

In addition to the fact that the number of tourists are descending.

 

* It seem that the THB will be facing a challenging period the coming period and if so it will be wished more than welcome ...

Edited November 12, 2019 by ttrd

[metisdead]

A troll post has been removed. 

[Brigand]

6 hours ago, smutcakes said:

Pepsi have a huge facility in Nongkhae industrial park in Saraburi and another one in Amata City Rayong. 

Guess you don't know what happened to Pepsi's factory in Korat a few years back.

[Speedhump]

This article means ABSOLUTELY NOTHING as it has not quoted comparison figures for say the last 5 years at least. I will assume the same number of businesses were up for sale last year and the year before. 

[saengd]

AS anyone who actually bothered to read the article in the link will know, that number of factory closures is about the norm each year.

[Javade joker]

IT is good that all foreigners are living out of Thailand and Take their investment out because of lack of safety and equality of justice and more problem for foreigners everyday more disasters coming corporate corruption is mounting more and more by Taking advantage from people specially Foreigners ? most Factories are moving to Vietnam and Cambodia and Malaysia and other good country,s that people have good scale work and English 

[saengd]

Big sigh!

[Perhaps2more]

19 hours ago, happy chappie said:

the futures so bright I've got to wear shades.i see this coming before I got married and that was over 3 years ago.

i used to say...teerak ...soon Thailand will have a financial money tsunami and here it comes.

most in this government probably thought it was good to have a strong baht.....oh yes we are champions,our baht super strong,better than any money around the world.

now the ship has started to hit the fan they are left scratching their heads and it's slowly dawned on them it ain't such a good thing.

with household debt thrown in this country is in for a proper rough ride.

Where is your Teerak after the financial money tsunami ?

 

[geisha]

I live in the  south of France near Cannes, and there’s not much shortage of money here. Yes, retailers are suffering because of the internet buying . When I see the cars the Thai s are driving, the iPhones and other Apple products, the restaurants quite full of Thai families and lots of ladies, I ask myself where is all that money coming from ? I’m quite sure that unless you have a very good high paying job, or you’re earning a high income on the streets / in bars, you cannot afford all these luxury goods. My friends don’t spend money like that ! Money earned , generally, in Europe, gets saved towards buying your own home . I go once a month to a beauty parlour/ nail shop in central Festival, and it s expensive , but all the clients seem to be Thai, and you often have to queue . I don’t think thailand can carry on like this for long. I remember 2008 well, I was in Phuket  , and houses were going for peanuts, cars and pick ups everywhere for sale . It can happen again, and the government will not help them !

[BestB]

The one and only question which everyone should be asking is what is government doing to improve the situation and the answer is NOTHING.

 

The only thing they have done is introduce more rules and regulations,making it harder to do business. Started raiding businesses which they ignored for decades.

 

Will not even mention the strength of baht, yet in times where every business struggles to make it even worse they discussing minimum wage increases.

[kingofthemountain]

14 minutes ago, BestB said:

The one and only question which everyone should be asking is what is government doing to improve the situation and the answer is NOTHING.

 

The only thing they have done is introduce more rules and regulations,making it harder to do business. Started raiding businesses which they ignored for decades.

 

Will not even mention the strength of baht, yet in times where every business struggles to make it even worse they discussing minimum wage increases.

You are unfair

you forgot the Chim shop chai campaign

[Speedhump]

3 hours ago, saengd said:

AS anyone who actually bothered to read the article in the link will know, that number of factory closures is about the norm each year.

I see the picture shows the number to actually be lower than 2018. How strange, for an article that is trying to ask if Thailand's subdued economic situation in 2019 will continue in 2020, suggesting that this has been a bad year. As I said, valueless article. 

[Mark mark]

Yes the Daughter In-Law who is a very VERY experienced "Solderer", ... was off work for 2 weeks as her line was being ? Renovated ? Or Re Designed, so they said, like I a sure that there is a much better word for this. Maybe "Restructured" ? ... So they said, …. The first time she has had any unplanned time off in about 20 Years from my Memories ! ??? ... And my Truck driver’s assistant brother In-Law had a week off at the same time also ! ... 

 

... It is interesting when I asked her exactly what she did, ? Or what they made at her work, …   and "Tests Mother Boards" was about what she said, .... So then I asked her what she did when she tested the Mother Boards, and they were Faulty, ... Imagining a large Bin full of Faulty mother Boards !!! ..... But she answered "I fix them" ! ... Like that is why she is a solderer ! ...  And not just a Production line worker or tester I suppose ... Like I laughed and quietly thought "Well I hope that I do not ever buy something with one of her Mother Boards in it”, like one that has been re soldered by hand, to make it work !!! Har Har .... ....    And I asked her how long they were guaranteed to work for ? … Like 10 Years ? ...  And she quickly said NO ... 3 Years !!!

 

Some Thais, like the Woman mostly ? Can be pretty dedicated workers, like she has been doing this job since College ! Which was 20 Years ago at least !!!

 

.... Ayutthaya has a LOT of factories around, and well, up to date, no one who is any good, is ever out of work for very long around here. .... Either a Man and skilled, or Strong, strength still mattering in a LOT of jobs around here, .... A lot of people from around here are Builders, or Building assistants, including the women, and this always has been their main occupation outside the fishing or Rice seasons, .... Though not much rice grown around here now, like getting the water out of the Fields, has always been a bit of a problem, …. Maybe more is still grown over in Petum Thani, ....

 

And Women 18 to 35 with Good eyes ! Are all still ? In demand on the IT Production lines, .... And well the older men ... Truck Drivers assistant, ...  and the Older Women work as Cooks in the Fast food places on the highway, ...  or in the Factory Canteens. ... No one complains about their job. .... TIT on the Upside here.

 

[BestB]

7 minutes ago, Mark mark said:

Yes the Daughter In-Law who is a very VERY experienced "Solderer", ... was off work for 2 weeks as her line was being ? Renovated ? Or Re Designed, so they said, like I a sure that there is a much better word for this. Maybe "Restructured" ? ... So they said, …. The first time she has had any unplanned time off in about 20 Years from my Memories ! ??? ... And my Truck driver’s assistant brother In-Law had a week off at the same time also ! ... 

 

... It is interesting when I asked her exactly what she did, ? Or what they made at her work, …   and "Tests Mother Boards" was about what she said, .... So then I asked her what she did when she tested the Mother Boards, and they were Faulty, ... Imagining a large Bin full of Faulty mother Boards !!! ..... But she answered "I fix them" ! ... Like that is why she is a solderer ! ...  And not just a Production line worker or tester I suppose ... Like I laughed and quietly thought "Well I hope that I do not ever buy something with one of her Mother Boards in it”, like one that has been re soldered by hand, to make it work !!! Har Har .... ....    And I asked her how long they were guaranteed to work for ? … Like 10 Years ? ...  And she quickly said NO ... 3 Years !!!

 

Some Thais, like the Woman mostly ? Can be pretty dedicated workers, like she has been doing this job since College ! Which was 20 Years ago at least !!!

 

.... Ayutthaya has a LOT of factories around, and well, up to date, no one who is any good, is ever out of work for very long around here. .... Either a Man and skilled, or Strong, strength still mattering in a LOT of jobs around here, .... A lot of people from around here are Builders, or Building assistants, including the women, and this always has been their main occupation outside the fishing or Rice seasons, .... Though not much rice grown around here now, like getting the water out of the Fields, has always been a bit of a problem, …. Maybe more is still grown over in Petum Thani, ....

 

And Women 18 to 35 with Good eyes ! Are all still ? In demand on the IT Production lines, .... And well the older men ... Truck Drivers assistant, ...  and the Older Women work as Cooks in the Fast food places on the highway, ...  or in the Factory Canteens. ... No one complains about their job. .... TIT on the Upside here.

 

Samsung hard drive factory laying off all staff who has worked for under 5 years, but keeping all who have worked for over 5 years. Putting it into numbers, roughly 3000-5000 people nationwide

[Mark mark]

7 minutes ago, BestB said:

Samsung hard drive factory laying off all staff who has worked for under 5 years, but keeping all who have worked for over 5 years. Putting it into numbers, roughly 3000-5000 people nationwide

Thanks for the Info, ... so looks like Women between the ages of 18 to 35 with good eyes, might not always be able to get a job on a Line around here ? ....  I wonder what the differences between the companies are ? ... Like new start ups have always seemed to be around ? ... and they are Talking about Companies moving their lines from China ? to Vietnam, and Thailand (And Vietnam still being pretty Corrupt ! ??? (I think ?) I would go for Thailand if I was their CEO ? ) ....  

 

My Grandson just got a good new Job though ? ... and he has been known to Quit regularly just recently, as he has a good new Thai Girlfriend, from Denmark to spend time with instead ! When she comes here on Holidays ! .... I will keep my Eyes out and lets just see what happens. ... Like I still do not know any one around here, that is out of work, .. who is Capable, and wants to be in to it ! ? ... 

 

(And I hope that the grandson does not walk in to a post, while he wanders around Talking to her on Skype or Line ? Just about all day !!!  ... and I wonder how many customers in a certain Thai restaurant, in Copenhagen have had Bowels of Soup tipped on them, by a Commley young Thai woman, ... doing the same thing ??? - ...   The new Generation !!! Right ?)  

[kingofthemountain]

12 minutes ago, JonBreadMan said:

 

 

Yes, I was pulled into one bar bottom of Soi 7, by nice looking girl, right away with out asking the mamasan started to get her a drink, I said hold on not even talked with her yet, what is the cost of a lady's drink, she would not tell me, so asked again, and she would only tell me the full price of the bill, not just her drink, so I asked again and was told 170, for a open air beer bar, I said no, drunk my drink (just a small coke at 80 BHT) and left...

Soi 7 and 8 have always been a rip off

in most of the bars the young cutties are in the street trying to get you in, they pull you inside 

the bar and when you are in, you finish to drink alone or with the old\fat\ugly who was in ambush

in the shadow and your young cuttie is already back to fish the next customer in the street.

I am surprised that is lasted so long but now this 2 streets are almost dead.

[BestB]

2 minutes ago, Mark mark said:

Thanks for the Info, ... so looks like Women between the ages of 18 to 35 with good eyes, might not always be able to get a job on a Line around here ? ....  I wonder what the differences between the companies are ? ... Like new start ups have always seemed to be around ? ... and they are Talking about Companies moving their lines from China ? to Vietnam, and Thailand (And Vietnam still being pretty Corrupt ! ??? (I think ?) I would go for Thailand if I was their CEO ? ) ....  

 

My Grandson just got a good new Job though ? ... and he has been known to Quit regularly just recently, as he has a good new Thai Girlfriend, from Denmark to spend time with instead ! When she comes here on Holidays ! .... I will keep my Eyes out and lets just see what happens. ... Like I still do not know any one around here, that is out of work, .. who is Capable, and wants to be in to it ! ? ... 

 

(And I hope that the grandson does not walk in to a post, while he wanders around Talking to her on Skype or Line ? Just about all day !!!  ... and I wonder how many customers in a certain Thai restaurant, in Copenhagen have had Bowels of Soup tipped on them, by a Commley young Thai woman, ... doing the same thing ??? - ...   The new Generation !!! Right ?)  

I think its just pure financial, for those who have worked for over 5 years laying off costs are high, also they are already very well skilled and could multitask.

 

Those under 5 years are cheaper to lay off and posses less skills

 

Not different to any other business, some hotels/shops/restaurants/bars close down and some are looking for staff

 

I think with multinationals its about waiting out the dead period with minimal losses where as for smaller, privately owned its different, either do well or shut the doors 

[yogi100]

20 hours ago, Borzandy said:

Yes there is a huge difference between 130 Baht and 140 Baht. Especially when it's well known that all bars in Thailand can fix there own price.

10 baht is 26 pence in Sterling.

 

The bottle holds half a pint.

 

So that's a 52 pence increase on the price of a pint.

 

Any pub where I come from that puts its already over priced beer prices up by over half a quid a pint in one hit would see its customers running for the door.

 

No one would stand for such a rip off regardless of however well known it is that all bars in Thailand or anywhere else can fix there own prices.

[yogi100]

16 hours ago, Andrew65 said:

In the UK you can have no work or income, and still be classified as being in employment (over a given time). Zero hours contracts.

 

Also, working for one hour a week counts as full employment.

 

It's how the governing Tory party can lie about having "full employment".

There are 8.7 million people of working age (16 - 65) in the UK who are classed as economically inactive.

 

They are not included in the unemployment statistics. However we don't get to hear much about them. As they are nearly all drawing some sort of benefit and not paying any income tax they are bound to be a drain on Britain's economy.

 

Any change of government would be unlikely to be able to do anything about that

 

Thailand does not have this problem but it's now common throughout the Western world.

 

 

 

 

[yogi100]

16 hours ago, Caine said:

Don’t know where he’s drinking. Pattaya Bar last night good lively  bar, good music free pool table. Cashier with the most enormous plastic boobs small Chang 50bht. 

He does know where you're drinking either.

[Srikcir]

On 11/11/2019 at 8:13 PM, snoop1130 said:

Over 1,300 factories were up for sale or out of business in first 10 months of 2019

So much for the government's recent bravado about an increase in company registrations. 

[saengd]

37 minutes ago, Srikcir said:

So much for the government's recent bravado about an increase in company registrations. 

So much for reading the article properly!