The Thai Economy Is In Crisis

[Mid]

the foreigners are pouring in... they must not be aware of some of the posts here.

and by this logic the locals obviously are .

interesting that neither locals nor local institutions are supporting their local economy ???

yes, what is going on ................

Edited June 19, 2007 by Mid

[Prakanong]

the foreigners are pouring in... they must not be aware of some of the posts here.

and by this logic the locals obviously are .

interesting that neither locals nor local institutions are supporting their local economy ???

yes, what is going on ................

They are waiting for democracy before investing - I bet they are not holding their brath while dong so though ;-)

[Robski]

I think the point has been well and truly proven in this thread, now it is just a matter of when the shit wiil hit the fan, so now I only come in to check out the 'witty' reparte and this one is excellent...

Better a bar with three stools than a lonely room with one though!

[Jai Dee]

FTI is confident; election would ease economic sluggish

Federation of Thai Industries (FTI) Chairman, SANTI WILADSAKDANOND (สันติ วิลาสศักดานนท์) said he is confident that economic sluggishness would be eased after the general election is held, while urging the government to conduct a campaign to stimulate public spending along with its economic stimulus policies.

The FTI chairman, meanwhile, conceded that most investors in the industrial sector are still concerned over politics which has impacted both public spending and investor’s confidence.

However, Mr. SANTI asserted the situation so far has not severely affected the Thai economy as seen from an increase in sales volume for consumer goods during THIS PAST APRIL.

In addition, he said, with the government’s continual policies such as an increased tax right off for home buyers coupled with the lowered interest rate, has also helped regain confidence from all sectors.

The FTI Chairman also mentioned that if the general election is held within the third quarter of the year, Thai economy would improve in the fourth quarter.

Source: Thai National News Bureau Public Relations Department - 19 June 2007

[Mid]

The FTI Chairman also mentioned that if the general election is held within the third quarter of the year, Thai economy would improve in the fourth quarter.

keep it up and i swear the flying pig pictures will be back .................................

[Dupont]

I know it's gonna get shot down as it wasn't written by a Thai Minister, BOI chief or BOT leader.

Just an article by some guy who obviously dosn't know what he is talking about eh Thaigoon!

http://www.atimes.com/atimes/Southeast_Asia/IF20Ae01.html

[Mid]

I know it's gonna get shot down as it wasn't written by a Thai Minister, BOI chief or BOT leader.

Just an article by some guy who obviously dosn't know what he is talking about eh Thaigoon!

http://www.atimes.com/atimes/Southeast_Asia/IF20Ae01.html

getting some attention here , even has it's own thread in general .........

[cclub75]

The bonds are back ! Remember the first "cancelation" by the BOT of auctions on june 6 ?

It starts again.

Total 9 billions THB, for june 20 and 27, were canceled.

"The Finance Ministry announced yesterday that it was delaying plans to issue new government bonds due to rising money market yield volatility. "

And the best comment for the end (ready ? fasten your seat belt) :

"'The concern is that with yields spiking, a bond issue now would only lock in funding at high costs,'' one ministry official said."

Astonishing. high cost = mumy, the other children are not nice with me, bouh !

I'm wondering what they will say next month, when... the situation will be exactly the same. Another delay ? Ah ah ah.

http://www.bangkokpost.com/Business/20Jun2007_biz41.php

And you willl notice the regular propaganda : the culprit is the "volatility" on the international market...

Edited June 19, 2007 by cclub75

[ThaiGoon]

The bonds are back ! Remember the first "cancelation" by the BOT of auctions on june 6 ?

It starts again.

Total 9 billions THB, for june 20 and 27, were canceled.

"The Finance Ministry announced yesterday that it was delaying plans to issue new government bonds due to rising money market yield volatility. "

And the best comment for the end (ready ? fasten your seat belt) :

"'The concern is that with yields spiking, a bond issue now would only lock in funding at high costs,'' one ministry official said."

Astonishing. high cost = mumy, the other children are not nice with me, bouh !

I'm wondering what they will say next month, when... the situation will be exactly the same. Another delay ? Ah ah ah.

http://www.bangkokpost.com/Business/20Jun2007_biz41.php

And you willl notice the regular propaganda : the culprit is the "volatility" on the international market...

That's what's happening right now (bond yields increasing all over the world.) It's the fact. What's wrong with stating the fact?

Propaganda?

[ThaiGoon]

Of course, had the Thai gov't decided to pay for the high yield, those who "passionately cared for the future of Thailand" (while their own futures in Thailand are in pathetic states) would have come out and said "Hahahaha. They are desperate to service their debts. So they are willing to pay for anything as long as they can get the money."

[ThaiGoon]

What I posted in the other thread:

According to the latest survey by JETRO, Thailand is the top destination for Japanese investors to relocate their business to.

Look at Page 6:

http://www.jetro.go.jp/en/news/releases/20...facturers_1.pdf

"Genernal machinery and chemical firms in Singapore are eyeing Thailand."

Thailand is also ranked second (behind China, tied with India) as a country that Japanese firms plan to target in the next 5-10 years.

Page 5:

http://www.jetro.go.jp/en/news/releases/20...facturers_2.pdf

"China ranked higest (337), followed by India (281), Thailand (281) and Vietnam (229)."

And:

http://www.boi.go.th/english/download/stat.../96/FINV075.pdf

BOI's numbers (FDI from major countries):

Net Applications: Jan-May07= 122,930 million Baht ; Jan-May06= 90,741 million Baht

Applications Approved: Jan-May07= 161,056 million Baht ; Jan-May06= 125,605 million Baht

Promotion Certificate Issues: Jan-May07= 167,837 million Baht ; Jan-May06= 128,586 million Baht

:D

Edited June 20, 2007 by ThaiGoon

[Steely Dan]

The bonds are back ! Remember the first "cancelation" by the BOT of auctions on june 6 ?

It starts again.

Total 9 billions THB, for june 20 and 27, were canceled.

"The Finance Ministry announced yesterday that it was delaying plans to issue new government bonds due to rising money market yield volatility. "

And the best comment for the end (ready ? fasten your seat belt) :

"'The concern is that with yields spiking, a bond issue now would only lock in funding at high costs,'' one ministry official said."

Astonishing. high cost = mumy, the other children are not nice with me, bouh !

I'm wondering what they will say next month, when... the situation will be exactly the same. Another delay ? Ah ah ah.

http://www.bangkokpost.com/Business/20Jun2007_biz41.php

And you willl notice the regular propaganda : the culprit is the "volatility" on the international market...

With the supply of government paper suffering a severe bout of indigestion and the Japanese getting cold feet about development aid I can see the mega projects which were supposed to cushion Thailand from the effects of a downturn drying up. P.S Higher bond yields will attract money eventually but at the expense of killing off the stock market.

[stumonster]

http://www.atimes.com/atimes/Southeast_Asia/IF20Ae01.html

Despite last year's 17% appreciation of the Thai currency, the baht, against the US dollar, Thai exports had performed strongly, expanding more than 17% year on year in 2006. That strong trend has continued into 2007, accounting for a $5.5 billion current-account surplus in the first quarter.

To date, those surpluses have provided Thailand's ruling generals with a financial cushion from souring foreign-investor sentiment. However, exports are expected to soften significantly in the coming months, witnessed in the meager $400 million current-account surplus recorded in April, meaning the economy must soon find growth from other sources to avoid a slide into recession. (Exports contribute more than 65% of Thailand's total gross domestic product.)

atimes is a manager publication - but the article makes valid points I think.

Edited June 20, 2007 by stumonster

[Mid]

definately getting air play round here ....................................

[highdiver]

so bingo and co fo the dooms day brigade went to the general forum and tried to win some hearts there

only to be redirected back to this thread.

must be a sad day for our "dark glasses" crisis seeking friends.

so for once and for all there is no crisis!! there is a slow down with very good signs that the economy is doing well and definatly going up..

sorry there is one crisis relating to one memeber who sold his condo in 2006 and because of rising prices can not be a player any more. furthermore because he deposited the funds out side thailand he missed the surge in thai baht value. nor did that member enjoy the nearly 50% cilmb in stocks.

crisis? whar crisis??? its a personal loss crisis that has turned into a personal vendata against thais.

but what is going on today??

l

lets look at the stock market its been so hard to keep track of the climbs.

SET Index 773.64 +9.86 10,475.99

SET100 Index 1,194.18 +17.30 7,103.58

SET50 Index 550.35 +8.05 5,552.04

mai Index 215.03 +1.68 244.94

and how about the investors.

Foreign 5,406.20 3,621.52 1,784.68

OH my GOD !!! those forign investors just can buy fast enough.

BOI is up with more forign investors, stockmarket up with more investors... wow those forigen investors must have a great confidence in the market...

I just love licking those lolipops

[Jai Dee]

DPM confident Thai economic recession only temporary

The Deputy Prime Minister and Minister of Industry is confident that Thailand's economic recession can be handled by the government.

Deputy Prime Minister and Minister of Industry Kosit Panpiemrat (โฆสิต ปั้นเปี่ยมรัษฎ์) believes that rumors that the government will be organizing demonstrators to clash with opposition protesters will affect investors' and consumers' confidence in the economy, though the government is in overall control of current situations. Mr. Kosit affirms that Thailand's economic recession is exhibiting signs of recovery due to increased government expenditures in the first quarter of 2007.

The Deputy Prime Minister added that he personally wanted elections to be held as soon as possible, but cautioned that election officials and all relevant parties would have to be prepared. Mr. Kosit said that contingency plans to accommodate emergency situations may be necessary.

Source: Thai National News Bureau Public Relations Department - 20 June 2007

[Mid]

Thailand's economic recession

[Prakanong]

Thailand's economic recession

"The Deputy Prime Minister and Minister of Industry is confident that Thailand's economic recession can be handled by the government. "

He has gone and done it now - Thaigoon will be calling him an idiot and Highdiver will be after him!

[Mid]

Thai shares close 1.74 per cent higher

June 20, 2007 : Last updated 05:31 pm (Thai local time)

Thai share prices closed 1.74 per cent higher on Wednesday as investors took heart from the junta's decision to bring forward elections in November, dealers said.

They said sentiment turned upbeat with investors chasing gains in energy and banking stocks.

The Stock Exchange of Thailand (SET) composite index gained 13.32 points to 777.10, while the blue-chip SET 50 index rose 11.06 points to 553.36.

Agence France-Presse

Edited June 20, 2007 by Mid

[Steely Dan]

Thailand's economic recession

"The Deputy Prime Minister and Minister of Industry is confident that Thailand's economic recession can be handled by the government. "

He has gone and done it now - Thaigoon will be calling him an idiot and Highdiver will be after him!

Tis a bit of a conundrum really; How do you get out of something you deny you were ever in?

[Mid]

Japanese investors welcome sooner election

June 20, 2007 : Last updated 06:33 pm (Thai local time)

Japanese investors welcomed Prime Minister Surayud Chulanont's pledge to hold a general election in six months and place high importance to equality and good governance to bring about stability.

Nonetheless, they refused to say if they believed that the worst was over for political uncertainty.

The Nation

[highdiver]

Thailand's economic recession

"The Deputy Prime Minister and Minister of Industry is confident that Thailand's economic recession can be handled by the government. "

He has gone and done it now - Thaigoon will be calling him an idiot and Highdiver will be after him!

its actually a very poor translation of what he said in thai. but we can expect that the farrangs living in singapore to understand that.

i noriced your lovely reply about the investors waiting for democracy.... you no doubt intended for that wonderfull democracy of Singapore as an example. Thailand should realy learn from singpaore how to be a free speach democracy.

[highdiver]

so today the stocks were up (sorry but i can t seem to stop this smile)

forign investors are buying thai stocks like hot buns.

the BOI is recruting more personal as they have to many aplications from forigenrs.

all indicatora are that the Economy is on its way up.

but still there are those who feel we are in Crisis.

and now the pm is declaring to have the elections sooner.

I realy cant belive that the only goverment that has kept all its promises is the Thai Junta.

Thai premier says possible to hold election earlier than schedule

(Kyodo) _ Thailand's military-installed Prime Minister Surayud Chulanont said Wednesday it is possible to hold a fresh general election earlier than the planned schedule.

After having a 30-minute meeting with relevant authorities, Surayud told reporters, "From general discussion we had, it is possible to accelerate the schedule for the election." He has pledged to hold the election either Dec. 16 or Dec. 23.

Suchart Sukhakkhanond, chief of the Election Commission of Thailand, said, "If a national referendum (on a new constitution) could be held Aug. 19, the general election could be held Nov. 25."

Noranit Settabutra, chairman of the constitutional drafting committee, was among the participants in the talks on a possible election date. Local media have reported that the drafting committee tried to wrap up their meetings by the end of this month. The six-month assignment is to end July 6.

[ThaiGoon]

its actually a very poor translation of what he said in thai. but we can expect that the farrangs living in singapore to understand that.

i noriced your lovely reply about the investors waiting for democracy.... you no doubt intended for that wonderfull democracy of Singapore as an example. Thailand should realy learn from singpaore how to be a free speach democracy.

:D

Meanwhile:

http://www.bangkokpost.com/breaking_news/b...s.php?id=119573

Thai exports hit historic high

(dpa) - Despite the strengthening of the baht currency against the dollar, Thailand's exports grew 20.9 per cent last month to reach $13.05 billion, an historic high for the month of May, the commerce minister revealed on Wednesday.

During the first five months of this year Thailand's exported goods were valued at $58.74 billion, up 18.8 per cent year-on-year, compared with imports worth $53.42 billion, up 4.4 per cent year, leaving the kingdom with a trade surplus of $5.32 billion, said Commerce Minister Krirk-Krai Jirapaet.

Thailand's top three export items include electronics, electrical machinery and vehicles and parts, which account for more than 70 per cent of its exports. The country is also the world's leading exporter of rice and rubber.

Thailand's robust export performance has continued this year despite a steep appreciation of the baht against the US dollar of more than 3 per cent during the first five months

[JR Texas]

its actually a very poor translation of what he said in thai. but we can expect that the farrangs living in singapore to understand that.

i noriced your lovely reply about the investors waiting for democracy.... you no doubt intended for that wonderfull democracy of Singapore as an example. Thailand should realy learn from singpaore how to be a free speach democracy.

:D

Meanwhile:

http://www.bangkokpost.com/breaking_news/b...s.php?id=119573

Thai exports hit historic high

(dpa) - Despite the strengthening of the baht currency against the dollar, Thailand's exports grew 20.9 per cent last month to reach $13.05 billion, an historic high for the month of May, the commerce minister revealed on Wednesday.

t

During the first five months of this year Thailand's exported goods were valued at $58.74 billion, up 18.8 per cent year-on-year, compared with imports worth $53.42 billion, up 4.4 per cent year, leaving the kingdom with a trade surplus of $5.32 billion, said Commerce Minister Krirk-Krai Jirapaet.

Thailand's top three export items include electronics, electrical machinery and vehicles and parts, which account for more than 70 per cent of its exports. The country is also the world's leading exporter of rice and rubber.

Thailand's robust export performance has continued this year despite a steep appreciation of the baht against the US dollar of more than 3 per cent during the first five months

JR Texas: If the economic statistics are pointing upward and things seem fine.......and if less than 10% of the population receives 90% of all economic gains.........does that mean the economy is not in crisis?

I think this is a valid point.........and I think that economic progress must be measured in terms of its impact on the majority, not the minority.

Personally, I think the Thai economy is in crisis if one looks at the whole picture.......sure, certain segments are flourishing and that is to be expected even during a down cycle. Economies generally do not fall into crisis mode overnight......more like a gradual deterioration over time (daily snapshots of the stock market tell us nothing).

[jumnien]

For the benefit of 90% of all Thais, the economy is far better now than it was 30 years ago; and 20 years ago, and 10 years ago, and five years ago - well, that was a pretty good time with an elected government so you really can't compare. Wait another 10 or 20 years and you will see even more improvement in quality of life for average Thais.

[Steely Dan]

Thailand's economic recession

"The Deputy Prime Minister and Minister of Industry is confident that Thailand's economic recession can be handled by the government. "

He has gone and done it now - Thaigoon will be calling him an idiot and Highdiver will be after him!

its actually a very poor translation of what he said in thai. but we can expect that the farrangs living in singapore to understand that.

i noriced your lovely reply about the investors waiting for democracy.... you no doubt intended for that wonderfull democracy of Singapore as an example. Thailand should realy learn from singpaore how to be a free speach democracy.

Beg to differ, the Economist classified Singapore as 'partly free' and Thailand as 'not free' along with the superstitious lunatics across the border in Myanmar, and also with Laos and Cambodia. Still don't let substance get in the way of your banter.

[quiksilva]

JR Texas: If the economic statistics are pointing upward and things seem fine.......and if less than 10% of the population receives 90% of all economic gains.........does that mean the economy is not in crisis?

I think this is a valid point.........and I think that economic progress must be measured in terms of its impact on the majority, not the minority.

It has been valid point for the last couple of centuries...

L'Oreal sales highest since 2002

PITSINEE JITPLEECHEEP

Despite weak consumer confidence, sales of L'Oreal (Thailand) Co grew by the most in five years during the first half of this year, topping its earlier projection of 21%. Jean Philippe Charrier, the company's managing director, said sales in the first half of this year in Thailand recorded the second strongest performance in Asia after China.

Sales of skin-care products grew 12%, hair care 7%, hair colouring 12%, makeup 8%, and men's products 50%, the executive said. During that period, Thailand's 46-billion-baht beauty industry grew only 4-5%.

The company recorded a better performance because it had continuously invested in Thailand over the past several years, he said. Strong brands, better innovations, and strong communication campaigns have also helped the company grow.

''Thailand still has huge potential,'' Mr Charrier said. ''With our strong team, strong brands and great products, we are very confident that we will achieve 20% growth this year, compared to 13% growth last year.''

He added that L'Oreal Thailand remained aggressive and optimistic about its business. In the past, Thai women used only one beauty product just for cleansing. But now the number of beauty products they use has increased from one to two or three items. However, the total is still lower than among women in developed countries who use up to a half-dozen beauty items for cleansing and nourishing their skin.

In July, the company will introduce a new brand called Matrix, which is the number one hair care brand in American salons and is available in 49 countries. Matrix will become the third brand in L'Oreal Thailand's salon business, in addition to L'Oreal Professionnel and Kerastase.

As of July, L'Oreal Thailand will have 15 beauty brands, which it markets in salons, retail stores and hospitals.

Granted most people don't use high end L'Oreal products but it clearly shows that this particular segment in society is quite well, which should be reassuring, well unless you had plans to profit from the next Thai "crisis"...

[bingobongo]

consumer tapped out, confidence down, credit slow down.......nothing like extendin loans who cant afford them

BankThai gets tougher

BankThai is getting stricter on issuing consumer loans, with more checks on applicants' sources of income and their ability to repay, amid the current economic slow-down, top executives said yesterday.

With loan applications falling, BankThai relaxed some qualifications, including the requirement for a minimum monthly income of Bt15,000. The bank now considers applicants with a monthly income of Bt10,000, but is keeping its focus on a borrower's creditworthiness.

http://www.nationmultimedia.com/2007/06/22...ss_30037525.php

[hammered]

Thailand's economic recession

"The Deputy Prime Minister and Minister of Industry is confident that Thailand's economic recession can be handled by the government. "

He has gone and done it now - Thaigoon will be calling him an idiot and Highdiver will be after him!

its actually a very poor translation of what he said in thai. but we can expect that the farrangs living in singapore to understand that.

i noriced your lovely reply about the investors waiting for democracy.... you no doubt intended for that wonderfull democracy of Singapore as an example. Thailand should realy learn from singpaore how to be a free speach democracy.

Beg to differ, the Economist classified Singapore as 'partly free' and Thailand as 'not free' along with the superstitious lunatics across the border in Myanmar, and also with Laos and Cambodia. Still don't let substance get in the way of your banter.

If we go back 6 or 7 years we will find Thailand was generally regarded as the freest place in SE Asia. Admittedly a decline started unfder Mr. Thaksin and there has been no improvement since but Thailand may still be able to get back to where it was only a few years ago fairly easily.

I would personally look at a how Singapore is rated by a few more organizatioons than the very free marketeer Economist which undoubtedl;y is not worried about the same fredoms that many rights groups are. The locking up of government opponents, the use of immediate treats of massive libel cases on anyone at all who speaks badly about a certain family in Singapore etc are quite harsh to say the least. Taking Singapore as a role model for anything other than a family run nepotisitc crony capitalist state is a bit suspect imho. Still no doubt thy nmeet the required list of things that satisfies the free marketeers of the world.