Businesses welcome Thai govt measures to boost liquidity

[webfact]

Businesses welcome govt measures to boost liquidity

By THE NATION

 

 

A survey conducted by the Bangkok of Thailand (BOT) from April 10 to 24 on the Covid-19 crisis impact on business showed that most business owners were happy with the government’s measures to help boost their liquidity.

 

“Most respondents said the outbreak has had an adverse impact on logistics, followed by consumer behaviour and the global supply chain,” BOT said.

 

“Respondents also said the crisis has badly hit workers, because businesses are working on shift basis and are cutting down on working hours to control expenses.”

 

He added that most of the respondents believe the economy will recover and return to normal by next year.

 

Source: https://www.nationthailand.com/business/30387265

 

-- © Copyright The Nation Thailand 2020-05-05

 

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[sammieuk1]

Did BOT ask 10.000 generals the next lottery numbers at the same time????

[lupin]

I've come to realize that any thai government stimulus package (or any government intervention of any kind really) is only effective if it's announcement is accompanied by an infographic.

[MaxYakov]

Businesses welcome govt measures to boost liquidity Interfere with the free market and redistribute wealth

[tokyoblond]

I run a small business and I have not seen ONE measure that will help my (now closed) business. My staff (5 people) cannot even get the social security that they/I have paid for... they filled the documents online (6 weeks ago), then were requested to attend the social security office in Hua Hin (5 weeks ago), which they did, to complete the forms again. Yesterday, one was called by Prachuap Kirikhan Social Security (not Hua Hin) to complete the online forms a second time. Other than that, none of the others have received one baht from social security, despite us religiously paying their social security payments. I have tried to keep up some payments to my staff, but now my money is runnning dry, which will means no liquidity when (if) we can ever reopen.

As to business help.... not one baht, no calls, no letters; nothing.

I doubt my business will survive, as we have been told (after repeated telephone calls to relevant offices and departments) July 1 opening at the earliest. Sorry, Thai Government, you have failed miserably in my opinion.... actually, no, I'm not sorry. I'm angry. 

Pity that they didn't ask for my response to their "survey", but silly me, I'm not a general nor a government employee, so there was no chance of them ever asking me. So, that will be 5 good Thai staff that will not be returning to work after this debacle is over.

Anyone want to buy an English school? Going cheap........

Edited May 5, 2020 by tokyoblond

[Srikcir]

Corporate liquidity does not guarantee inthe light of operational inactivity employee wages/salaries, only assures the corporate structure remains in place while operations are substantially reduced or stopped.

Employees must take reduced wages, furlough or terminated when business operations fail to generate adequate income; but the executive organization can remain unaffected waiting for customers to return. 

The government would do better to serve the Public by directing funding directly to employees as the business goes into hibernation. This is the business of some of the European nations whose workers are successively weathering the viral storm.

[RichardColeman]

8 hours ago, webfact said:

He added that most of the respondents believe the economy will recover and return to normal by next year.

If its bad for another year, the suicide rates and starvation will exceed the covid figures by far

[Singo]

23 hours ago, tokyoblond said:

I have tried to keep up some payments to my staff

Noblesse Oblige. I commend your benevolence and loyalty to your employees.