Economic Crisis Begins To Bite Into Business Sector

[george]

Economic crisis begins to bite into business sector

BANGKOK: -- The economic crisis has begun to clearly bite into Thailand’s business sector as is witnessed by the swift decline in listed companies’ profitability and debt repayment prospects due to the weakening of local and overseas demand, according to the Bank of Thailand (BoT).

Amara Sripayak, senior director of the central bank’s Local Economy Division, said that wholesale and retail trade in January dropped by 8.5 per cent and 7 per cent respectively from the same month last year because of the weakening of production and construction activities.

In addition, confidence among entrepreneurs and consumers remained low due to increased unemployment and global economic uncertainties.

The overall wholesale trade in almost all categories, especially the sale of building materials, metals and agricultural supplies had also fallen from the same month the year before.

The overall retail trade had dropped, reflecting a reduction of consumer spending although product prices had declined, she said.

A group of products with increased sales include the retail trade in supermarkets with constant sales promotions.

Total production in the business sector had dropped swiftly due to a weakening of local and overseas demands, she said.

It reflected a fall in profitability of the business sector and performance of most listed companies on the Stock Exchange of Thailand (SET).

An increase in the economic risk factor as a result of economic weakness led to a continued rise in loan defaults from the previous quarter.

It resulted in higher borrowing costs of the business sector in the banking system or in the financial market.

-- TNA 2009-04-02

[trogers]

And that is why the SET index has fallen to the 400s and stayed there. This was anticipated 6 months ago. Old news.

[animatic]

Relatively in line with the rest of the ball of wax.

[gaelovide]

Thailand will have a very though year, and that's why the real estate market is actually going to be 'interesting' for people with cash - as lots of people are going to sell their apartments 'urgently'

Gael

[h90]

Thailand will have a very though year, and that's why the real estate market is actually going to be 'interesting' for people with cash - as lots of people are going to sell their apartments 'urgently'

Gael

Well trying to buy some land almost "anywhere" in the south and I only get ridiculous offers. ...so seems it needs some more time.

[DaleBlue]

http://www.bloomberg.com/apps/news?pid=206...id=aIqRJ2U5FxOc

Peru Stocks Go to First From Worst as Metals Rebound (Update2)

By James AttwoodMarch 31 (Bloomberg) -- Peru’s stock market, Latin America’s worst performer last year, is the world’s biggest gainer in 2009 as a rebound in raw-material prices helps send the economy to the fastest growth rate in the region.

The Lima General Index surged 38 percent in March, the steepest monthly advance in 16 years. The gauge climbed 31 percent for the quarter, eight times the gain in the MSCI Latin America Index and the biggest rise among 89 equity benchmark indexes tracked by Bloomberg.

- - - - - -

The worst is overall.

Do you know that Peru is one of the very very few country outside Asean where Thai can enter without a Visa?

[hardy1943]

Economic crisis begins to bite into business sector

BANGKOK: -- The economic crisis has begun to clearly bite into Thailand’s business sector as is witnessed by the swift decline in listed companies’ profitability and debt repayment prospects due to the weakening of local and overseas demand, according to the Bank of Thailand (BoT).

Amara Sripayak, senior director of the central bank’s Local Economy Division, said that wholesale and retail trade in January dropped by 8.5 per cent and 7 per cent respectively from the same month last year because of the weakening of production and construction activities.

In addition, confidence among entrepreneurs and consumers remained low due to increased unemployment and global economic uncertainties.

The overall wholesale trade in almost all categories, especially the sale of building materials, metals and agricultural supplies had also fallen from the same month the year before.

The overall retail trade had dropped, reflecting a reduction of consumer spending although product prices had declined, she said.

A group of products with increased sales include the retail trade in supermarkets with constant sales promotions.

Total production in the business sector had dropped swiftly due to a weakening of local and overseas demands, she said.

It reflected a fall in profitability of the business sector and performance of most listed companies on the Stock Exchange of Thailand (SET).

An increase in the economic risk factor as a result of economic weakness led to a continued rise in loan defaults from the previous quarter.

It resulted in higher borrowing costs of the business sector in the banking system or in the financial market.

-- TNA 2009-04-02

Keep the Baht at the ridicules high price and baby you have n't seen nothing yet

[Thai at Heart]

Begins to bite? The Japanese exporters; particularly electronics (many of my customers) have been slowing down for 3 months or more. Good to see they have their finger on the pulse.

[henryalleman]

Begins to bite? The Japanese exporters; particularly electronics (many of my customers) have been slowing down for 3 months or more. Good to see they have their finger on the pulse.

This moment the number of homeless in Tokyo is doubled, in the parks you can see people who live in tents. Almost all Brazillian immigrant workers are send back home, in Toyota city numerous apartments are abandon, because people lost their job and became homeless.

Don't forget there is no social security in Japan.