Sommai admits investors’ confidence will be affected by bomb blast



BANGKOK: -- Finance Minister Sommai Phasee admitted Tuesday that the deadly bomb explosion at the Ratchaprasong commercial district would definitely shake the confidence of investors.

However, he said he could not assess how much the violent incident would affect the investors’ confidence as he was yet to call a meeting of parties concerned to evaluate the situation.

But as far as the tourism business is concerned, the finance minister said that it was fortunate that the incident happened in August which is not yet the high season for tourism business which usually starts in November.

Deputy Finance Minister Wisuth Srisuphan, meanwhile, said no additional remedial measure was needed to help the victims as the government was already caring for the injured.

Meanwhile, Business Development Department chief Ms Phongphan Jianviriyaphan said she believed the impacts from the bombing incident should be short-lived and it would affect the registration of new businesses.

About 65,000 new business enterprises are expected to be registered this year, she added.

Source: http://englishnews.thaipbs.or.th/sommai-admits-investors-confidence-will-be-affected-by-bomb-blast

-- Thai PBS 2015-08-18

But as far as the tourism business is concerned, the finance minister said that it was fortunate that the incident happened in August which is not yet the high season for tourism business which usually starts in November.

He beat TAT to say the first greedy stupid remark about not loosing money from Tourism cause of this tragic bombing ...

I almost wish there would be a worse incident in "High Season" so they could really loose money on less tourists coming ...

BTW can so called confidence from foreign Investors get any lower ... ?

I'm sure some, even many, will get into me about Thai bashing but doesn't the comments about tourism and business registration just typify the all too common attitude here ?

But as far as the tourism business is concerned, the finance minister said that it was fortunate that the incident happened in August which is not yet the high season for tourism business which usually starts in November.

He beat TAT to say the first greedy stupid remark about not loosing money from Tourism cause of this tragic bombing ...

I almost wish there would be a worse incident in "High Season" so they could really loose money on less tourists coming ...

BTW can so called confidence from foreign Investors get any lower ... ?

Just curious why you think foreign investment is very low. Where do you draw the information from to back your assertion?

Obviously not from here which proves you are wrong.

FACTS. The PTP's biggest enemy. Beliefs. There dearest friend.

"it was fortunate that the incident happened in August which is not yet the high season for tourism business which usually starts in November."

Of course by happening well BEFORE peak season gives tourists time to cancel reservations and rebook for other destinations.

But as far as the tourism business is concerned, the finance minister said that it was fortunate that the incident happened in August which is not yet the high season for tourism business which usually starts in November.

He beat TAT to say the first greedy stupid remark about not loosing money from Tourism cause of this tragic bombing ...

I almost wish there would be a worse incident in "High Season" so they could really loose money on less tourists coming ...

BTW can so called confidence from foreign Investors get any lower ... ?

Just curious why you think foreign investment is very low. Where do you draw the information from to back your assertion?

Obviously not from here which proves you are wrong.

FACTS. The PTP's biggest enemy. Beliefs. There dearest friend.

Perhaps this is the relevant reference that can help you.

Investor Confidence at 14 month low, The Nation 2015-08-11:

“CAPITAL MARKET investor confidence in Thailand has dropped significantly for the coming three months due mainly to the economic slowdown, said the Federation of Thai Capital Market Organisations (FETCO), prompting it to downgrade the investment conditions from "neutral" to "bearish".

All groups of investors - foreign institutional, proprietary, retail and domestic institutional - agree that the markets will turn bearish over the next three months.

The confidence of securities firms has dropped by 71.43 per cent, which means it is now at a 14-month low.”

The Junta has been in power for the last 14 months.

But as far as the tourism business is concerned, the finance minister said that it was fortunate that the incident happened in August which is not yet the high season for tourism business which usually starts in November.

He beat TAT to say the first greedy stupid remark about not loosing money from Tourism cause of this tragic bombing ...

I almost wish there would be a worse incident in "High Season" so they could really loose money on less tourists coming ...

BTW can so called confidence from foreign Investors get any lower ... ?

Just curious why you think foreign investment is very low. Where do you draw the information from to back your assertion?

Obviously not from here which proves you are wrong.

FACTS. The PTP's biggest enemy. Beliefs. There dearest friend.

Perhaps this is the relevant reference that can help you.

Investor Confidence at 14 month low, The Nation 2015-08-11:

“CAPITAL MARKET investor confidence in Thailand has dropped significantly for the coming three months due mainly to the economic slowdown, said the Federation of Thai Capital Market Organisations (FETCO), prompting it to downgrade the investment conditions from "neutral" to "bearish".

All groups of investors - foreign institutional, proprietary, retail and domestic institutional - agree that the markets will turn bearish over the next three months.

The confidence of securities firms has dropped by 71.43 per cent, which means it is now at a 14-month low.”

The Junta has been in power for the last 14 months.

Absolutely! Even China is having problems and devalues it's valuta. The Euro at a long point. Darn this junta.

Finance Minister Sommai Phasee

Rumor is that he may be the Former Finance Minister, once the new cabinet is ordained by the King.

Just to add some figures here,

Thai set closed today on 1372.61 down 36.13 points (2.56%).

AOT down 6.62 %

PTT down 5.72 %

True down 4.00 %

CPN down 6.67 % (central)

Thai down 6.4% (Airline)

The lowest set for over 15 Months ( 28-3-2014)

Turnover today was 78.35 Billion Baht what was a record turnover, all people investing is was like a rollarcoaster.

And not only emotion what driven the market today mr. Sommai has a point here.

just for your information.

Tomorrow another day

But as far as the tourism business is concerned, the finance minister said that it was fortunate that the incident happened in August which is not yet the high season for tourism business which usually starts in November.

He beat TAT to say the first greedy stupid remark about not loosing money from Tourism cause of this tragic bombing ...

I almost wish there would be a worse incident in "High Season" so they could really loose money on less tourists coming ...

BTW can so called confidence from foreign Investors get any lower ... ?

How do you know he didn't simply mean that if it was more crowded more people could have been killed and injured?

But as far as the tourism business is concerned, the finance minister said that it was fortunate that the incident happened in August which is not yet the high season for tourism business which usually starts in November.

He beat TAT to say the first greedy stupid remark about not loosing money from Tourism cause of this tragic bombing ...

I almost wish there would be a worse incident in "High Season" so they could really loose money on less tourists coming ...

BTW can so called confidence from foreign Investors get any lower ... ?

Just curious why you think foreign investment is very low. Where do you draw the information from to back your assertion?

Obviously not from here which proves you are wrong.

FACTS. The PTP's biggest enemy. Beliefs. There dearest friend.

Perhaps this is the relevant reference that can help you.

Investor Confidence at 14 month low, The Nation 2015-08-11:

“CAPITAL MARKET investor confidence in Thailand has dropped significantly for the coming three months due mainly to the economic slowdown, said the Federation of Thai Capital Market Organisations (FETCO), prompting it to downgrade the investment conditions from "neutral" to "bearish".

All groups of investors - foreign institutional, proprietary, retail and domestic institutional - agree that the markets will turn bearish over the next three months.

The confidence of securities firms has dropped by 71.43 per cent, which means it is now at a 14-month low.”

The Junta has been in power for the last 14 months.

Brilliant reply.

You did not condescend, belittle, denounce or attack me. You were able to articulate an intelligent rebuttal addressing the post and offered facts to back up your arguement.

Well done and I appreciate the link.

Have a lovely evening my friend.

Inflammatory posts removed along with replies.