soundman Posted August 14, 2007 Share Posted August 14, 2007 Ouch! That's more serious than I expected. LaoPo Wait until six months down the track, when the pressure of loan repayments coupled with a significant fall in rental incomes from an abundance of un-tenneted units erodes general investor savings & 2 - 5% more condos / townhouses are on the market with "sell quickly" orders from the owners, comes into play. That will be serious. Link to comment Share on other sites More sharing options...
Scott Posted August 14, 2007 Share Posted August 14, 2007 A metal works factory where I work, in Samut Prakarn, (teaching English--part time) announced the end of their night shift and no more overtime. This factory doesn't export. It's not a good sign for the thousand or so employees who work there. Link to comment Share on other sites More sharing options...
LaoPo Posted August 14, 2007 Share Posted August 14, 2007 Ouch! That's more serious than I expected. LaoPo Wait until six months down the track, when the pressure of loan repayments coupled with a significant fall in rental incomes from an abundance of un-tenneted units erodes general investor savings & 2 - 5% more condos / townhouses are on the market with "sell quickly" orders from the owners, comes into play. That will be serious. I hope you're wrong but afraid you're right The topic title: Thai Economy Is In Crisis ...has more body in itself than most of us ever anticipated the moment the topic started... Tough Thai Times ahead, I'm afraid. LaoPo Link to comment Share on other sites More sharing options...
Mid Posted August 14, 2007 Share Posted August 14, 2007 the hits just keep comming UPDATE 1-Thai AIS Q2 profit down 11 pct, below forecasts Tue Aug 14, 2007 3:22AM EDT By Khettiya Jittapong BANGKOK, Aug 14 (Reuters) - Advanced Info Service PCL (AIS) (ADVA.BK: Quote, Profile, Research), Thailand's top mobile phone firm, reported a deeper-than-expected 11 percent fall in quarterly earnings on Tuesday as costs rose and fierce competition cut into revenues.snip reuters.com Link to comment Share on other sites More sharing options...
Prakanong Posted August 14, 2007 Share Posted August 14, 2007 the hits just keep commingUPDATE 1-Thai AIS Q2 profit down 11 pct, below forecasts Tue Aug 14, 2007 3:22AM EDT By Khettiya Jittapong BANGKOK, Aug 14 (Reuters) - Advanced Info Service PCL (AIS) (ADVA.BK: Quote, Profile, Research), Thailand's top mobile phone firm, reported a deeper-than-expected 11 percent fall in quarterly earnings on Tuesday as costs rose and fierce competition cut into revenues.snip reuters.com Temaseks worst investment for years is it not? I bet they are regreting it at their leisure. Link to comment Share on other sites More sharing options...
Mid Posted August 14, 2007 Share Posted August 14, 2007 and comming .................. 2007 Thai auto sale target slashed Tue, August 14, 2007 : Last updated 16:02 hours Toyota Motor Thailand (TMT) Co Ltd has lowered its forecast on the Thai automobile market for 2007 from an initial 700,000 units to 650,000 units due to market decline caused by political and economic factors.snip The Nation Link to comment Share on other sites More sharing options...
Mid Posted August 14, 2007 Share Posted August 14, 2007 US sub-prime lending woes don't yet affect Thai economy: TDRI Tuesday 14 August 2007 04:08:02 PM (GMT+7:00) snipSomkiat Tangkitvanich, TDRI's Research Director, said he had estimated the impact of the sub-prime mortgage problems in the US and found the overall Thai economy, especially the property sector, had not yet been affected. However, the Thai economy could be unavoidably impacted if the US economy experienced a slowdown because the country is Thailand's top export destination. snip MCOT Public Company Limited Link to comment Share on other sites More sharing options...
midas Posted August 14, 2007 Share Posted August 14, 2007 QUOTE(Mid @ 2007-08-14 16:09:31) the hits just keep comming I am curious - I wonder at what point the " lolipops and roses " brigade will concede the argument is not going their way Link to comment Share on other sites More sharing options...
bingobongo Posted August 14, 2007 Share Posted August 14, 2007 QUOTE(Mid @ 2007-08-14 16:09:31) the hits just keep comming I am curious - I wonder at what point the " lolipops and roses " brigade will concede the argument is not going their way never, as that would require maturity on the part of the "brigade" Bad credit card debt on rise due to weakness in economy http://www.bangkokpost.com/Business/14Aug2007_biz36.php Link to comment Share on other sites More sharing options...
highdiver Posted August 14, 2007 Share Posted August 14, 2007 QUOTE(Mid @ 2007-08-14 16:09:31) the hits just keep comming I am curious - I wonder at what point the " lolipops and roses " brigade will concede the argument is not going their way never, as that would require maturity on the part of the "brigade" Bad credit card debt on rise due to weakness in economy http://www.bangkokpost.com/Business/14Aug2007_biz36.php Never enter a battle of wits unarmed. Link to comment Share on other sites More sharing options...
highdiver Posted August 14, 2007 Share Posted August 14, 2007 QUOTE(Mid @ 2007-08-14 16:09:31) the hits just keep comming I am curious - I wonder at what point the " lolipops and roses " brigade will concede the argument is not going their way So, a thought crossed your mind? Must have been a long and lonely journey. we wait for mid to balance the posts. it usualy happens every 5-6 posts. Link to comment Share on other sites More sharing options...
highdiver Posted August 14, 2007 Share Posted August 14, 2007 US sub-prime lending woes don't yet affect Thai economy: TDRI Tuesday 14 August 2007 04:08:02 PM (GMT+7:00) snipSomkiat Tangkitvanich, TDRI's Research Director, said he had estimated the impact of the sub-prime mortgage problems in the US and found the overall Thai economy, especially the property sector, had not yet been affected. However, the Thai economy could be unavoidably impacted if the US economy experienced a slowdown because the country is Thailand's top export destination. snip MCOT Public Company Limited waht hapened to that porkee post you started today??? have you checked the map where is phuket and where is south thailand? Link to comment Share on other sites More sharing options...
Mid Posted August 14, 2007 Share Posted August 14, 2007 'diver take your irrelevance and .......................... Link to comment Share on other sites More sharing options...
highdiver Posted August 14, 2007 Share Posted August 14, 2007 'diver take your irrelevance and .......................... Now go away or I shall taunt you a second time. Link to comment Share on other sites More sharing options...
Mid Posted August 14, 2007 Share Posted August 14, 2007 'diver take your irrelevance and .......................... Now go away or I shall taunt you a second time. your nothing but a troll , and an unimaginative one at that perhaps you would like to explain the connection between waht hapened to that porkee post you started today???have you checked the map where is phuket and where is south thailand? and US sub-prime lending woes don't yet affect Thai economy: TDRI as per Post #1392 ?? a trolling "diver will go ............................ Link to comment Share on other sites More sharing options...
Solosiam Posted August 14, 2007 Share Posted August 14, 2007 Thai tuna firm TUF Q2 profit up on cost controls http://yahoo.reuters.com/news/articlehybri...News&rpc=44 Thai PTT Q2 key profit up, beats forecasts http://yahoo.reuters.com/news/articlehybri...News&rpc=44 Thai Big C Supercenter Q2 profit up 14 percent http://asia.news.yahoo.com/070810/3/3674n.html Thai Banpu Q2 net profit jumps, beating forecasts http://asia.news.yahoo.com/070810/3/367bd.html Link to comment Share on other sites More sharing options...
Prakanong Posted August 14, 2007 Share Posted August 14, 2007 'diver take your irrelevance and .......................... Well stone me he must have discovered a spellchecker Link to comment Share on other sites More sharing options...
Mid Posted August 14, 2007 Share Posted August 14, 2007 Thai tuna firm TUF Q2 profit up on cost controlshttp://yahoo.reuters.com/news/articlehybri...News&rpc=44 Sales in the quarter rose 14 percent in dollar terms to $396.4 million but were up a mere 4 percent in Thai currency <THB=> terms to 13.8 billion baht as the baht strengthened about 8 percent from the same quarter of last year, it said.Selling and administration expenses fell 11 percent to 1.29 billion baht in the quarter as it cut operating costs, the company said in its financial statement. Thai PTT Q2 key profit up, beats forecasts http://yahoo.reuters.com/news/articlehybri...News&rpc=44 Asia's third-largest oil and gas firm after China's Petrochina (0857.HK: Quote, Profile , Research) and Sinopec (0386.HK: Quote, Profile , Research) reported an April-June net profit of 26.3 billion baht ($771 million), down 17 percent from 31.65 billion baht a year earlier. Thai Big C Supercenter Q2 profit up 14 percent http://asia.news.yahoo.com/070810/3/3674n.html The result met the 540 million baht net profit forecast by broker Asia Plus Securities but was down from the 673 million baht in the first quarter, which it attributed to an unusually wet rainy season. Thai Banpu Q2 net profit jumps, beating forecasts http://asia.news.yahoo.com/070810/3/367bd.html Banpu had a foreign exchange loss of 35.6 million baht in the quarter, better than a 235 million baht loss a year earlier, and booked 253 million baht in dividends, which analysts said came from its 15 percent stake in Ratchaburi Electricity . Banpu, with coal reserves of 304 million tonnes, operates five mines in Indonesia, two in China and two in Thailand, while holding a stake in three power plants in China and owns a 50 percent stake in 1,400-megawatt power producer BLCP Link to comment Share on other sites More sharing options...
xbusman Posted August 14, 2007 Share Posted August 14, 2007 I think that this is worth talking about. Taken from the link posted above but I thought I saw it in Bangkok Post too. BANGKOK, Aug 14 (Reuters) - Thai Union Frozen Products PCL (TUF.BK: Quote, Profile , Research), Asia's top canned tuna exporter, reported a 26 percent rise in quarterly net profit on Tuesday, helped by cost controls.TUF, whose key "Chicken of the Sea" brand accounts for about one third of earnings, said its second quarter net profit rose to 430.2 million baht ($12.6 million) from 340.7 million baht a year earlier. The second quarter earnings were higher than a forecast of 410 million baht by two analysts polled by Reuters for a company whose U.S. subsidiaries own the Chicken of the Sea and Empress International brands. Tuna accounts for about half TUF's sales and the rest comes mostly from frozen shrimp and canned seafood. Sales in the quarter rose 14 percent in dollar terms to $396.4 million but were up a mere 4 percent in Thai currency <THB=> terms to 13.8 billion baht as the baht strengthened about 8 percent from the same quarter of last year, it said. Selling and administration expenses fell 11 percent to 1.29 billion baht in the quarter as it cut operating costs, the company said in its financial statement. Sales in the first six months were $757.9 million and TUF has maintained its dollar-based sales growth of 8 percent for the year, the company said. Chicken of the Sea's share of the U.S. market has risen to 20 percent from 18.5 percent after advertising campaigns over the past two years. Del Monte Food Co.'s (DLM.N: Quote, Profile , Research) Starkist has a 41 percent share and privately owned San Diego firm Bumble Bee Seafoods has 23 percent. At 0334 GMT, TUF shares were up 1.3 percent at 23.40 baht, while the main stock index <.SETI> was down 0.23 percent. ($1=34.11 Baht) So, they actively went after additional sales and were able to increase sales 4% year on year. They are gaining significant market share which is no easy feat in food retailing, particularly a product that is pretty generic like canned tuna. Then, they actively cut 11 percent off sales and administration, means they took a chain saw to the fat and cut it to the bone, that is very aggressive. I am impressed. Someone at the top is deadly serious about making money and saw the storm coming. They made some pretty hard choices and worked very very hard (cut sales & admin 10% and increase sales?). Thats what it is going to take to survive the strong baht and there are plenty of Thai companies up to the challenge. Still, we are going to see those leaner and meaner companies shed people to survive. The FBA is putting a halt to new companies coming in to absorb that labor pool. I think everyone will be glad when the constitution is approved and elections that hopefully will put things back on track. Link to comment Share on other sites More sharing options...
VegasVic Posted August 14, 2007 Share Posted August 14, 2007 QUOTE(Mid @ 2007-08-14 16:09:31) the hits just keep comming I am curious - I wonder at what point the " lolipops and roses " brigade will concede the argument is not going their way They won't even admit to themselves that they were wrong until well after the point of no return, and they certainly won't publicly admit it I liken the situation to the old story about putting a frog in a boiling pot of water, the frog will jump out of that boiling pot immediatly, but if you put a frog into a pot of water at room temperature then start to gradually heat it up the frog will stay there until it is boiled alive Link to comment Share on other sites More sharing options...
highdiver Posted August 14, 2007 Share Posted August 14, 2007 QUOTE(Mid @ 2007-08-14 16:09:31) the hits just keep comming I am curious - I wonder at what point the " lolipops and roses " brigade will concede the argument is not going their way They won't even admit to themselves that they were wrong until well after the point of no return, and they certainly won't publicly admit it I liken the situation to the old story about putting a frog in a boiling pot of water, the frog will jump out of that boiling pot immediatly, but if you put a frog into a pot of water at room temperature then start to gradually heat it up the frog will stay there until it is boiled alive what is that stuff you smoke and where can i get me some of that.??? Link to comment Share on other sites More sharing options...
highdiver Posted August 14, 2007 Share Posted August 14, 2007 Thai tuna firm TUF Q2 profit up on cost controlshttp://yahoo.reuters.com/news/articlehybri...News&rpc=44 Sales in the quarter rose 14 percent in dollar terms to $396.4 million but were up a mere 4 percent in Thai currency <THB=> terms to 13.8 billion baht as the baht strengthened about 8 percent from the same quarter of last year, it said.Selling and administration expenses fell 11 percent to 1.29 billion baht in the quarter as it cut operating costs, the company said in its financial statement. Thai PTT Q2 key profit up, beats forecasts http://yahoo.reuters.com/news/articlehybri...News&rpc=44 Asia's third-largest oil and gas firm after China's Petrochina (0857.HK: Quote, Profile , Research) and Sinopec (0386.HK: Quote, Profile , Research) reported an April-June net profit of 26.3 billion baht ($771 million), down 17 percent from 31.65 billion baht a year earlier. Thai Big C Supercenter Q2 profit up 14 percent http://asia.news.yahoo.com/070810/3/3674n.html The result met the 540 million baht net profit forecast by broker Asia Plus Securities but was down from the 673 million baht in the first quarter, which it attributed to an unusually wet rainy season. Thai Banpu Q2 net profit jumps, beating forecasts http://asia.news.yahoo.com/070810/3/367bd.html Banpu had a foreign exchange loss of 35.6 million baht in the quarter, better than a 235 million baht loss a year earlier, and booked 253 million baht in dividends, which analysts said came from its 15 percent stake in Ratchaburi Electricity . Banpu, with coal reserves of 304 million tonnes, operates five mines in Indonesia, two in China and two in Thailand, while holding a stake in three power plants in China and owns a 50 percent stake in 1,400-megawatt power producer BLCP thaigoon says hello. and keep up the good work. Link to comment Share on other sites More sharing options...
Carmine6 Posted August 14, 2007 Share Posted August 14, 2007 I think that this is worth talking about.Taken from the link posted above but I thought I saw it in Bangkok Post too. BANGKOK, Aug 14 (Reuters) - Thai Union Frozen Products PCL (TUF.BK: Quote, Profile , Research), Asia's top canned tuna exporter, reported a 26 percent rise in quarterly net profit on Tuesday, helped by cost controls.TUF, whose key "Chicken of the Sea" brand accounts for about one third of earnings, said its second quarter net profit rose to 430.2 million baht ($12.6 million) from 340.7 million baht a year earlier. The second quarter earnings were higher than a forecast of 410 million baht by two analysts polled by Reuters for a company whose U.S. subsidiaries own the Chicken of the Sea and Empress International brands. Tuna accounts for about half TUF's sales and the rest comes mostly from frozen shrimp and canned seafood. Sales in the quarter rose 14 percent in dollar terms to $396.4 million but were up a mere 4 percent in Thai currency <THB=> terms to 13.8 billion baht as the baht strengthened about 8 percent from the same quarter of last year, it said. Selling and administration expenses fell 11 percent to 1.29 billion baht in the quarter as it cut operating costs, the company said in its financial statement. Sales in the first six months were $757.9 million and TUF has maintained its dollar-based sales growth of 8 percent for the year, the company said. Chicken of the Sea's share of the U.S. market has risen to 20 percent from 18.5 percent after advertising campaigns over the past two years. Del Monte Food Co.'s (DLM.N: Quote, Profile , Research) Starkist has a 41 percent share and privately owned San Diego firm Bumble Bee Seafoods has 23 percent. At 0334 GMT, TUF shares were up 1.3 percent at 23.40 baht, while the main stock index <.SETI> was down 0.23 percent. ($1=34.11 Baht) So, they actively went after additional sales and were able to increase sales 4% year on year. They are gaining significant market share which is no easy feat in food retailing, particularly a product that is pretty generic like canned tuna. Then, they actively cut 11 percent off sales and administration, means they took a chain saw to the fat and cut it to the bone, that is very aggressive. I am impressed. Someone at the top is deadly serious about making money and saw the storm coming. They made some pretty hard choices and worked very very hard (cut sales & admin 10% and increase sales?). Thats what it is going to take to survive the strong baht and there are plenty of Thai companies up to the challenge. Still, we are going to see those leaner and meaner companies shed people to survive. The FBA is putting a halt to new companies coming in to absorb that labor pool. I think everyone will be glad when the constitution is approved and elections that hopefully will put things back on track. What's not clear in the article is that Thai products make up much of the brands higher end sales. For example, lots of Chicken of the Sea products come from South America, but the ones they have like seasoned ahi fillets come from Thailand. I was going to take a picture and post on this forum, but didn't. Wish I had now. I had plain tuna foil pouches from Ecuador I think and the Thai products were the seasoned ahi grilled fillets that come whole in a foil pouch. The actual can products are a lot cheaper and likely not from Thailand. They weigh a lot more and the profit can't be nearly as good especially once you throw in shipping costs. I use the foil pouch products backpacking and I think for the same weight you get twice as much product in a pouch versus a can. Tuna from the pouch is fairly dry but you have to squeeze a lot of water or oil out of the can. This is exactly what Thailand has to do if the baht stays strong. Go up the value chain to the less price sensitive products. China has shot itself in the foot a bit lately with food products. There was an article about people in US restaurants asking where the fish came from after a recent contamination in Chinese food. Link to comment Share on other sites More sharing options...
Mid Posted August 15, 2007 Share Posted August 15, 2007 jobs comming ................. Fisher & Paykel to quit NZ for Thailand August 15, 2007 - 1:49PM Whiteware manufacturer Fisher & Paykel Appliances (FPA) has announced plans to relocate its electronics factory from Auckland to Thailand.The company said 96 jobs would be lost but it would save around $NZ6 million ($A5.24 million) a year before tax, for a one-off pre-tax cost of $5 million. Production of electronic circuit boards used in Fisher & Paykel appliances would be located in Rayong, Thailand, the same site as FPA's proposed new laundry plant. snip smh.com.au hot money leaving ................. Asian Currencies Weaken as Funds Exit Emerging-Market Assets By Jake Lee Asian currencies fell, pushing the Indonesian rupiah to the lowest in more than a year, as U.S. subprime mortgage losses prompted global investors to cut holdings in emerging-market assets. The Malaysian ringgit approached a four-month low and the Singapore dollar reached the lowest in six weeks as the region's stocks dropped after Illinois-based Sentinel Management Group Inc. became the latest fund to halt investor redemptions. Overseas money managers sold more shares than they bought yesterday in Taiwan, South Korea, Indonesia and Thailand. snip (Bloomberg) Link to comment Share on other sites More sharing options...
highdiver Posted August 15, 2007 Share Posted August 15, 2007 Builder Italian-Thai Q2 profit almost trebles Wed Aug 15, 2007 1:00 AM ET BANGKOK, Aug 15 (Reuters) - Italian-Thai Development PCL <ITD.BK>, Thailand's biggest construction firm, said on Wednesday its net profit almost trebled in the second quarter. The company said in a statement it had a net profit of 522.9 million baht ($15.33 million) in the April-June period, up from 178.3 million baht a year earlier. Construction revenues rose 29.5 percent to 11.8 billion baht in the second quarter and construction costs rose 28.5 percent to 10.9 billion baht, the company said in its financial statement. TABLE-Thai GMM Grammy Q2 net profit up 39 pct, tops forecasts GMM Grammy PCL is Thailand's largest music and entertainment group. Net profit 136.86 vs profit 98.14 Link to comment Share on other sites More sharing options...
Mid Posted August 15, 2007 Share Posted August 15, 2007 Builder Italian-Thai Q2 profit almost treblesWed Aug 15, 2007 1:00 AM ET BANGKOK, Aug 15 (Reuters) - Italian-Thai Development PCL <ITD.BK>, Thailand's biggest construction firm, said on Wednesday its net profit almost trebled in the second quarter. The company said in a statement it had a net profit of 522.9 million baht ($15.33 million) in the April-June period, up from 178.3 million baht a year earlier. Construction revenues rose 29.5 percent to 11.8 billion baht in the second quarter and construction costs rose 28.5 percent to 10.9 billion baht, the company said in its financial statement. TABLE-Thai GMM Grammy Q2 net profit up 39 pct, tops forecasts GMM Grammy PCL is Thailand's largest music and entertainment group. Net profit 136.86 vs profit 98.14 link ??? Link to comment Share on other sites More sharing options...
Mid Posted August 15, 2007 Share Posted August 15, 2007 Bueller ..................... anybody ???? Link to comment Share on other sites More sharing options...
Gnarpjohan Posted August 15, 2007 Share Posted August 15, 2007 Bueller .....................anybody ???? Some links here: http://asia.news.yahoo.com/bc/th/ Link to comment Share on other sites More sharing options...
Mid Posted August 15, 2007 Share Posted August 15, 2007 Bueller .....................anybody ???? Some links here: http://asia.news.yahoo.com/bc/th/ thanxs , here's the article in question http://yahoo.reuters.com/news/articlehybri...News&rpc=44 smells to me .............. snip The company said in a statement it had a net profit of 522.9 million baht ($15.33 million) in the April-June period, up from 178.3 million baht a year earlier. Construction revenues rose 29.5 percent to 11.8 billion baht in the second quarter and construction costs rose 28.5 percent to 10.9 billion baht, the company said in its financial statement. Gross margins fell to 6.6 percent from 7.3 percent in the same quarter last year, according to a Reuters calculation. The firm said it had a foreign exchange gain of 12 million baht in the quarter after a 89 million baht loss a year earlier and its interest expenses rose almost half to 322.8 million baht in the quarter. Italian-Thai has said it expects to return to profit this year, as do analysts, after a net loss in 2006. Thirteen analysts polled by Reuters Estimates expected the company to have a 2007 net profit of 1.08 billion baht. snip Link to comment Share on other sites More sharing options...
ray23 Posted August 15, 2007 Share Posted August 15, 2007 Somethings don't change here it is the land of Smoke and Mirrors Link to comment Share on other sites More sharing options...
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