Thai DBD: 17% increase in business closures seen in May

[webfact]

DBD: 17% increase in business closures seen in May

BANGKOK, 19 June 2015 (NNT) – The Department of Business Development (DBD) under the Ministry of Commerce has reported a decrease in business registrations in May, whereas business closures were on the rise due to stricter regulation of lottery vendors.

Director-General of the DBD Pongpun Gearaviriyapun stated that, in May 2015, business operators submitted applications to establish a total of 4,526 new companies, representing a decline of 1 percent compared to the same month in 2014, and the combined capital was recorded at 17.5 billion baht. On the contrary, the number of companies being shut down during the month was at 977, edging up 17 percent.

Ms Pongpun pointed out that one of the reasons behind the drop in business openings was the enforcement of new restrictions on lottery vendors. Only 10 lottery entities were reportedly established in May, whereas a large number went out of business. In addition, she said the many holidays throughout the month also caused a slowdown in the registration activities.

However, the Director-General voiced belief that a higher record of business openings will be seen each month from now, thanks to the positive outlook on the Thai economy for the remainder of this year. The annual registration figure is currently estimated at 60,000-65,000.


-- NNT 2015-06-19

[khunpa]

"Positive Outlook on the Thai Economy"... LOL... Made my day!

Edited June 19, 2015 by khunpa

[rubl]

Where are the TVF apologists when they are needed. Some surely can tell me how they made money here and how the ROI is so good. Cmon where my haters at?

How does making money by foreigners relate to

"whereas business closures were on the rise due to stricter regulation of lottery vendors."

[bangkokfrog]

It seems hard to believe that the average lottery vendor goes to the expense and trouble of registering as a business.

[TheAppletons]

Where are the TVF apologists when they are needed. Some surely can tell me how they made money here and how the ROI is so good. Cmon where my haters at?

How does making money by foreigners relate to

"whereas business closures were on the rise due to stricter regulation of lottery vendors."

"whereas business closures were on the rise due to stricter regulation of lottery vendors more stringent oversight on leprechauns finding pots of gold."

Corrected...and equally as convincing.

[elgordo38]

Where are the TVF apologists when they are needed. Some surely can tell me how they made money here and how the ROI is so good. Cmon where my haters at?

How does making money by foreigners relate to

"whereas business closures were on the rise due to stricter regulation of lottery vendors."

I find it truly amazing how they can pinpoint the reason for business closures. Is it tea leaves reading, Tarot cards, crystal ball, horoscopes, fortune tellers or reading chicken entrails. They seem to find an answer for everything. Business slow downs is not a option. They are in a permanent state of denial in everything

[bangkokheat]

what a load of tripe

[rubl]

Where are the TVF apologists when they are needed. Some surely can tell me how they made money here and how the ROI is so good. Cmon where my haters at?

How does making money by foreigners relate to

"whereas business closures were on the rise due to stricter regulation of lottery vendors."

"whereas business closures were on the rise due to stricter regulation of lottery vendors more stringent oversight on leprechauns finding pots of gold."

Corrected...and equally as convincing.

Do you think there might be a relation between the business closures and the topic with

"SOME 50 people yesterday filed a police complaint at the Economic Crime Suppression Division, accusing a private company of luring them to invest money in a business scheme that did not yield profits or returns as promised."

[slapout]

what a load of tripe

apparently unwashedas well as little thought involved in any part of this reply

[Anthony5]

Where are the TVF apologists when they are needed. Some surely can tell me how they made money here and how the ROI is so good. Cmon where my haters at?

How does making money by foreigners relate to

"whereas business closures were on the rise due to stricter regulation of lottery vendors."

In Pattaya are lately entire streets full of deserted shops, some which had been there for many years, I guess they were all lottery sellers.

[Anthony5]

Where are the TVF apologists when they are needed. Some surely can tell me how they made money here and how the ROI is so good. Cmon where my haters at?

How does making money by foreigners relate to

"whereas business closures were on the rise due to stricter regulation of lottery vendors."

"whereas business closures were on the rise due to stricter regulation of lottery vendors more stringent oversight on leprechauns finding pots of gold."

Corrected...and equally as convincing.

Do you think there might be a relation between the business closures and the topic with

"SOME 50 people yesterday filed a police complaint at the Economic Crime Suppression Division, accusing a private company of luring them to invest money in a business scheme that did not yield profits or returns as promised."

Unless the report said that those 50 people ran businesses, which I don't see, I don't think it is related.

[robblok]

Where are the TVF apologists when they are needed. Some surely can tell me how they made money here and how the ROI is so good. Cmon where my haters at?

How does making money by foreigners relate to

"whereas business closures were on the rise due to stricter regulation of lottery vendors."

In Pattaya are lately entire streets full of deserted shops, some which had been there for many years, I guess they were all lottery sellers.

Its amazing how in Thailand (regardless of what government is in power) they will always try to spin the bad news in a way its not bad. Only revising growth rates if they can no longer deny it. When i read the Dutch news they do accept it when things go bad.

[Pib]

It seems hard to believe that the average lottery vendor goes to the expense and trouble of registering as a business.

They probably have to have a registered business license in order to get the lottery tickets from the govt.

[slapout]

my promise of a subsquental increase on valuation every monthwill be forth coming to those leaving acash investment by my lucky mango tree each night before darkthirty. hurry or the container could overflow, thus full potential will npt be received

[Anthony5]

It seems hard to believe that the average lottery vendor goes to the expense and trouble of registering as a business.

They probably have to have a registered business license in order to get the lottery tickets from the govt.

But they don't get them straight from the government, and that is also the reason why they can't make a living, but from a licensed reseller.

The vendors on the street have no license of anything.

[rubl]

It seems hard to believe that the average lottery vendor goes to the expense and trouble of registering as a business.

They probably have to have a registered business license in order to get the lottery tickets from the govt.

But they don't get them straight from the government, and that is also the reason why they can't make a living, but from a licensed reseller.

The vendors on the street have no license of anything.

and only legitimate business can legitimately go out of business. Makes you wonder about the government figures.

[Pib]

It seems hard to believe that the average lottery vendor goes to the expense and trouble of registering as a business.

They probably have to have a registered business license in order to get the lottery tickets from the govt.

But they don't get them straight from the government, and that is also the reason why they can't make a living, but from a licensed reseller.

The vendors on the street have no license of anything.

There are plenty of resellers, both the primarily resellers and subs to the primarily resellers....kinda like a tree with the trunk being the primarily reseller and then the big branches, littles branches, leaves, etc. Yea, the "leaves" like the folks riding around on bicycles with their tray of lottery tickets probably don't have a business license. This extract from a Nation article gives an idea of the type of organizations the govt issues tickets to.

http://www.nationmultimedia.com/national/Lottery-ticket-prices-fall-to-Bt75-as-govt-action--30262467.html

The Government Lottery Office's board also altered the allocation of tickets to organisations, foundations, legal entities, small-scale vendors and people with disabilities.

[Srikcir]

"thanks to the positive outlook on the Thai economy for the remainder of this year."

What POSITIVE OUTLOOK?

Thailand's economic engine stuttering as global storm approaches, The Nation 2015-06-19

"The export sector is no longer humming. Private investment is weak. The Thai government is almost broke. And consumers are seeing their debts climb through the roof.

Brace for more tough times in the second half of this year, when the effect of the recent drought on Thai farmers begins to spread. There is |only one way to go forward - by muddling through."

The only thing that's positive is the Junta will remain in place and continue its diasterous economic policy of doing too little too late.

[jerojero]

Yes, I'm quite sure every lottery vendor on the street is a registered business. And the spouted statistics from the Ministry are spot on too.

Edited June 20, 2015 by jerojero

[gemguy]

Well now...it should be obvious that some business are going the way of the dinosaurs while some businesses are booming while some business enterprises are yet to be developed to their fullest potential.

No different in most countries while the landscape is always changing...while some businesses are getting better while other businesses are struggling.

Cheers

[docshock13]

"However, the Director-General voiced belief that a higher record of business openings will be seen each month from now, thanks to the positive outlook on the Thai economy for the remainder of this year."

Meanwhile on planet earth...

http://m.nasdaq.com/article/thailand-central-bank-revises-economic-indicators-downward-20150619-00055

His altruistic supremeness, in his bid to bring happiness to Thailand, must have put something in all the govt office water coolers!

[TheAppletons]

"thanks to the positive outlook on the Thai economy for the remainder of this year."

What POSITIVE OUTLOOK?

Thailand's economic engine stuttering as global storm approaches, The Nation 2015-06-19

"The export sector is no longer humming. Private investment is weak. The Thai government is almost broke. And consumers are seeing their debts climb through the roof.

Brace for more tough times in the second half of this year, when the effect of the recent drought on Thai farmers begins to spread. There is |only one way to go forward - by muddling through."

The only thing that's positive is the Junta will remain in place and continue its diasterous economic policy of doing too little too late.

Somewhere, Winston Smith is shaking his head.

[Thai at Heart]

Yes, I'm quite sure every lottery vendor on the street is a registered business. And the spouted statistics from the Ministry are spot on too.

I think they are referring to the wholesale middle men who buy from govt and distribute them to the vendors.

I mean what would be the point of that business if it wasn't set up to launder bazillions of baht and gouge the vendors at street level. Thainess personified.

Don't ask why the vendors can't buy direct from the govt. You just can't get it because u aren't Thai. It would be too simple and moral to do that.

[trogers]

How many business closures are due to sales of real property held under 'Thai-owned' companies?

[docshock13]

How many business closures are due to sales of real property held under 'Thai-owned' companies?

Who knows? But good point. Things grinding to a halt. Those (that I know) with enough money to leave are re-patriating or trying to. Others just cannot afford it or still wearing their rose-coloured glasses.

There can be no peace without properity that is shared among the poplulation to create a vibrant economy and culture. Thailand has relied on foreign investment (whether direct or indirect) and cheap, illegal, foreign labour for so long the powers that be dont know what to do now that they have to stand on their own two feet.

[Konaboy1]

It won't be long until USA will start to raise interest rates!

Money from emerging nations will begin to outflow.