Why Build a Terminal 21 in Pattaya? by The Pattaya Sleuth

[Anthony5]

11 minutes ago, JSixpack said:

 

It was very wise of you--impressive, too--to avoid quadrupling your money in CPN shares 'cause you know the company is cookin' the books. Just like all them other Thai companies whose malls have done well despite the dire predictions soon as they opened. It doesn't matter that the marketing fundamentals of CentralFestival also happen to be good. That's cause THE most reliable measure of the health of a mall is the good ol' tried-and-true TVF Poster My Eyeballs At Random Intervals measure. That's how you know that CentralFestival Pattaya Beach is in fact bankrupt with, as fforest1 claims, shops all boarded up. Same with Siam Paragon and--thank you for reminding me--Central World. It's all exactly as foretold with uncanny prescience by TVF economists.

 

For example, Siam Paragon:

 

• I really doubt Siam Paragon can survive.
• Anyway, I agree, I foresee zero future for this shopping mall (it was full of people... underground in the food court).
• I think the place is going to a huge "white elephant" after a few months. Matter of fact I was there yesterday sitting outside the skytrain entrance while a friend was smoking a cigarette and we were just chatting and people watching. In the half hour we sat outside only 1 customer (farang tourist) came out with a Siam Paragon Bag.
• no-one anywhere seems to be buying anything!
• Of course almost no one were in any of the over-priced shops.

               --http://www.thaivisa.com/forum/topic/57131-good-bye-bangkok-shopping/

 

And then Central World.

 

The fatal sin committed by Central World, as with Harbor Mall and soon Terminal 21, was to compound the egregious violation of the TVF Poster Only One rule: we already got one we didn't need so we certainly don't need another and therefore nobody's gonna go there. (This, despite Family Marts on every corner.) I mean, Bangkok already had that Siam Paragon about to go bankrupt just any day but also Amarin Plaza, Gaysorn, Siam Discovery, Siam Square, and, of course, Central Chidlom, all of them failing!

 

• Pipe dreams. People from Thailand shop in Singapore and HK to find quality that is generally not available in Thailand. (And people from those countries usually come here looking for *cheap* goods.)
• I think the biggest problem with the place is location.
• What we need here in Thailand is not more luxery shopping centers but stores that carries quality products at reasonable prices and better selection of products to choose.
• I can't imagine shoppers from the Galleria in Houston, or any number of other First-World, fully developed countries, flocking to Bangkok just to get luxury goods.
• . The rich billionaires of Mexico City are not known for flocking to.....Thailand.
•  It's never crowded, you never see people buying stuff (besides the shop selling those cheap plastic purses), and there are almost no thai's that go there. Thai's prefer places like "The Mall" or MBK for prices or places like Paragon or Emporium for image.
• Who is going to pay those prices?
• :TIT:
• All of these new shopping malls are heading for a spectacular crash, there simply isn't enough customers and never will be.

               --http://www.thaivisa.com/forum/topic/76404-central-world-thailands-largest-shopping-complex-opens-july-21/?page=1

 

Incredibly, member Heng, one of the few posting here with good business sense, an investor himself, dared observe: They were saying the same thing about Emporium and Discovery Center before they got off the ground. Last I heard they were doing better than 'just breaking even.' OMG. Saffron-tinted glasses!

 

In the end it probably comes down to Thais doing something that appears not to depend obviously on the patronage of the quality tourists and residents, i.e., the "naughty mongers," the economic powerhouses behind Pattaya's now-vanished prosperity, the great jobs creators: none other than the Golden Eggs Layers, most of whom have by now fled to the paradise of Cambodia if they aren't staying over at Soi Buakhao. Those few Golden Eggs Layers remaining won't be shopping/eating/ice skating there, heh. Harbor, as has been astutely observed by one of our economists, isn't even on a major baht bus route! So constructing those white elephants is just plain stupid. Yeah, stupid Thais. Feels so good to think that.

 

Hence I wouldn't place too much faith in the usual doom predictions about Terminal 21 and Harbor. Our near-sighted members will never be able to see anybody in there, as they still can't in CentralFestival, but it's still more likely than not that--to great consternation--they'll be staying open, the rental vacancy rate after 3 years will be less than 10%, and I for one will be enjoying a visit there now and then.

 

 

 

 

 

If you would travel to Bangkok now and then, instead of spending your time between your PC and the daytime gogo's, you would know that Central world is deserted, something member Tropo probably can confirm. And this is nothing that happened just the other day.

 

Now try to explain to anyone with a little common sense how a deserted multi billion Baht mall can be profitable.

 

By the way Central Pattana was also doing great in 1996, opening Big C supercenters all over the country, until they had to sell a big part of their imperium to avoid bankruptcy only a year later.

Edited August 29, 2016 by Anthony5

[JSixpack]

3 minutes ago, Anthony5 said:

 

If you would travel to Bangkok now and then, instead of spending your time between your PC and the daytime gogo's, you would know that Central world is deserted, something member Tropo probably can confirm. And this is nothing that happened just the other day.

 

Now try to explain to anyone with a little common sense how a deserted multi billion Baht mall can be profitable.

 

Oh, they're all deserted man. Same as in the USA as I've noted. It's just one o' them unfathomable mysteries that you'll somehow just have to suck up without losing the will to live.

 

Next.

[Anthony5]

6 minutes ago, JSixpack said:

 

Oh, they're all deserted man. Same as in the USA as I've noted. It's just one o' them unfathomable mysteries that you'll somehow just have to suck up without losing the will to live.

 

Next.

Selective reading again Jsixpack?

 

Why you so conveniently deleted the FACT from the post you quoted?

 

Here it is again in case you honestly missed it.

 

By the way Central Pattana was also doing great in 1996, opening Big C supercenters all over the country, until they had to sell a big part of their imperium to avoid bankruptcy only a year later.

 

Oh and there were others, like CP group for instance, who also were doing so great in 1996, but overnight had to sell half of their business.

[ThaiBob]

I was at Central World a few weeks back and it was busy but not like the Paragon. It can seem slow just because of its immense size. The Ice Rink was packed and the restaurants were doing OK. Like others, I don't understand the marketing concept Central World(Zen), Central Chitlom and Central Embassy(very slow) all within a stones throw of each other but that's for their corporate know it alls to sort out. Back to Terminal 21, yes build it and who cares about a cheap charlie food court, I want restaurants like the Outback and Tony Romas.

[DMC1]

Due to the climate one of the top Thai past times is walking around air conditioned malls, popping to the food court or eateries & maybe purchasing some goods.

I couldn't give a toss if they are successful or not as I also like to do this a good few times per week. These big fancy AC malls are here to stay. You miserable mall bashers carry on sweating your nuts off outside or whatever you do in your free time.

[tropo]

1 hour ago, ThaiBob said:

I was at Central World a few weeks back and it was busy but not like the Paragon. It can seem slow just because of its immense size. The Ice Rink was packed and the restaurants were doing OK. Like others, I don't understand the marketing concept Central World(Zen), Central Chitlom and Central Embassy(very slow) all within a stones throw of each other but that's for their corporate know it alls to sort out. Back to Terminal 21, yes build it and who cares about a cheap charlie food court, I want restaurants like the Outback and Tony Romas.

The food court at Terminal 21 in Bangkok is on the same level as the upmarket restaurants. Most seemed to be doing well.

 

Brand stores in all malls seem to be quiet most of the time unless they have sales, but they stay open year after year. For example, we hardly ever see others in the Body Shop, but maybe the other customers are like us - when we go in there it's nothing to spend 5000 plus baht at a time. The Bebe store in Pattaya is always deserted, as they are in Paragon and Central World - yet they stay open. In that store one dress or a pair of jeans will cost a minimum of 6000 baht, so when people buy there they spend a lot... ditto for other stores like Guess. They rely on return custom of big spenders. If that's not it, then I'm at a loss to explain it.

[newnative]

It's early days for Harbor but I think it's going to do ok.  The owner was smart to gear it towards families and it's busy on weekends--which I've learned to avoid.  Still slow weekdays but once the offices on the upper floors fill up that should help.  As with any mall, there will be a tweaking of store mix--right now there seem to be too many sit-down restaurants for the weekday foot traffic so some may fall by the wayside.   My partner and I like the Max Valu grocery store--not huge but big enough and easy to get in and out of and negotiate.  If Max-Valu was smart they would open a stand alone store on Jomtien Second Road and they'd do a good business.  As for Avenue?   One of the problems, among many:  "Thank you,  Mr. Jones for renting one of our storefronts to sell your shirts.  The rent is XXXXX Baht a month.   Oh, by the way, in the evening there will be a dozen or so other shirt sellers  out front on the lawn selling their shirts and paying  XXXX a month rent.  Hopefully, a few customers looking for shirts will make their way past all these other shirts for sale  and find your store inside.  GOOOOOOD LUCK!

[JSixpack]

2 hours ago, Anthony5 said:

By the way Central Pattana was also doing great in 1996, opening Big C supercenters all over the country, until they had to sell a big part of their imperium to avoid bankruptcy only a year later.

 

Oh and there were others, like CP group for instance, who also were doing so great in 1996, but overnight had to sell half of their business.

 

To recap and expand, we've now mentioned a couple of important rules of TVF economics: the Only One rule and My Eyeballs At Random Intervals. And by implication the Only Farangs Have Money rule, which makes luxury malls that might rely upon Thais, Chinese etc. a no-go from the start. That rule was most strongly invoked after Thailand dared raise visa fees in 2003. Hysteria reached a fever pitch as it was prophesied that all farangs would be leaving Thailand (unloved, unwanted--sniff!) so therefore the malls would all be closing and Thais would all have to go back to the rice paddies as Thailand returned to the Stone Age. Yep, that's how we think. And this is the biggest problem with the new malls, like Terminal 21: insufficient support from the Golden Eggs Layers, those economic powerhouses.

 

But I'm glad you've now brought up another important rule of TVF economics, one of the most naive, the No Change rule. This rule holds that for success a business has the same high volume, with plenty of customers to be eyeballed at any random interval, and the same high profit margins--forever. Business cycles are unheard of. External unavoidable macroeconomic shocks are unknown. Floods, coups, currency devaluations, pfft!

 

So a successful business must exist in a sort of perpetual tableau, like a shop in Pyongyang. It can never do less well. I mean, it might double its profit one year but if it makes 25% less the following year, then the 50% more the year after that means nothing. No Change has been violated: death could come at any time. The thought of investing at one of the low points in expectation of a rebound--huh? Wassat? Got muh passbook under muh pillow.

 

And if in a mall a business, even a few of a hundred mobile phone shops, has miscalculated the market and closes, the violation of TVF No Change extends to the entire mall! Yup, the entire mall is now failing. A Sign. Just as foretold. Knew it. Strange how it stays open anyway.

 

But No Change applies more broadly outside the mall. A bar closes, a shop closes after wrongly anticipating walk-in trade on Pattaya Nua where nobody's walking, then it means the entire city is near economic collapse. We get threads like the 2010 classic Why Is Everything Closing Down? It may be extended to the entire country--or the world, as posters begin to cite dire articles in the Daily Star or wherever. We love to cluck and nod wisely about the inevitable coming global apocalypse.

 

In short, your FACT means nothing much except in the context of TVF economics, hence was rightly ignored. Now we know your job here, hittin' one note and all, and got your point already that you think CPN is cookin' the books and Central deserted and bankrupt as will be Harbor and Terminal 21. Can we now just wait and see? BTW, if you need help learning to type--I had a wonderful teacher in the 10th grade, Mrs. Brown, bless 'er--you might try here: Learn How to Touch Type. Just sayin'.  

 

 

 

[Anthony5]

1 hour ago, JSixpack said:

 

To recap and expand, we've now mentioned a couple of important rules of TVF economics: the Only One rule and My Eyeballs At Random Intervals. And by implication the Only Farangs Have Money rule, which makes luxury malls that might rely upon Thais, Chinese etc. a no-go from the start. That rule was most strongly invoked after Thailand dared raise visa fees in 2003. Hysteria reached a fever pitch as it was prophesied that all farangs would be leaving Thailand (unloved, unwanted--sniff!) so therefore the malls would all be closing and Thais would all have to go back to the rice paddies as Thailand returned to the Stone Age. Yep, that's how we think. And this is the biggest problem with the new malls, like Terminal 21: insufficient support from the Golden Eggs Layers, those economic powerhouses.

 

But I'm glad you've now brought up another important rule of TVF economics, one of the most naive, the No Change rule. This rule holds that for success a business has the same high volume, with plenty of customers to be eyeballed at any random interval, and the same high profit margins--forever. Business cycles are unheard of. External unavoidable macroeconomic shocks are unknown. Floods, coups, currency devaluations, pfft!

 

So a successful business must exist in a sort of perpetual tableau, like a shop in Pyongyang. It can never do less well. I mean, it might double its profit one year but if it makes 25% less the following year, then the 50% more the year after that means nothing. No Change has been violated: death could come at any time. The thought of investing at one of the low points in expectation of a rebound--huh? Wassat? Got muh passbook under muh pillow.

 

And if in a mall a business, even a few of a hundred mobile phone shops, has miscalculated the market and closes, the violation of TVF No Change extends to the entire mall! Yup, the entire mall is now failing. A Sign. Just as foretold. Knew it. Strange how it stays open anyway.

 

But No Change applies more broadly outside the mall. A bar closes, a shop closes after wrongly anticipating walk-in trade on Pattaya Nua where nobody's walking, then it means the entire city is near economic collapse. We get threads like the 2010 classic Why Is Everything Closing Down? It may be extended to the entire country--or the world, as posters begin to cite dire articles in the Daily Star or wherever. We love to cluck and nod wisely about the inevitable coming global apocalypse.

 

In short, your FACT means nothing much except in the context of TVF economics, hence was rightly ignored. Now we know your job here, hittin' one note and all, and got your point already that you think CPN is cookin' the books and Central deserted and bankrupt as will be Harbor and Terminal 21. Can we now just wait and see? BTW, if you need help learning to type--I had a wonderful teacher in the 10th grade, Mrs. Brown, bless 'er--you might try here: Learn How to Touch Type. Just sayin'.  

 

 

 

 

 

We all know long time already that you had a wonderful typing teacher, but you would have better had a good psychiatrist in your younger years, then you wouldn't feel the need to fill pages and pages with off topic drivel.

 

I didn't predict anything in my posts, something you don't seem to gather, I only mentioned some facts from the past and we all know that history repeats itself. And I also didn't made any comment about companies cooking their books, I simply said that only a fool doesn't know that the stock price often doesn't reflect the companies health.

 

My question to you was rather easy to comprehend, though you still fail to answer, so lets make it more simple for you as it is clear that I'm addressing a simple mind.

 

Do you deny that both Central Pattana and CP and quite a few others had, to the outside world at least, a wonderful business model in 1996 but only 1 year later they needed to sell big parts of their flagship to avoid bankruptcy?

 

Take note that in 1997 there weren't too many westerners in Thailand yet, so it can't have been caused by them.

Edited August 29, 2016 by Anthony5

[tropo]

2 hours ago, JSixpack said:

  BTW, if you need help learning to type--I had a wonderful teacher in the 10th grade, Mrs. Brown, bless 'er--you might try here: Learn How to Touch Type. Just sayin'.  

 

May I recommend Typing Master 10 - wonderful program!

[DMC1]

 

 

We all know long time already that you had a wonderful typing teacher, but you would have better had a good psychiatrist in your younger years, then you wouldn't feel the need to fill pages and pages with off topic drivel.

 

I didn't predict anything in my posts, something you don't seem to gather, I only mentioned some facts from the past and we all know that history repeats itself. And I also didn't made any comment about companies cooking their books, I simply said that only a fool doesn't know that the stock price often doesn't reflect the companies health.

 

My question to you was rather easy to comprehend, though you still fail to answer, so lets make it more simple for you as it is clear that I'm addressing a simple mind.

 

Do you deny that both Central Pattana and CP and quite a few others had, to the outside world at least, a wonderful business model in 1996 but only 1 year later they needed to sell big parts of their flagship to avoid bankruptcy?

 

Take note that in 1997 there weren't too many westerners in Thailand yet, so it can't have been caused by them.

Plenty of Westerners here in 1997 & also that year there was a stock market crash. Maybe they had money invested outside that went tits up? Who knows the reason?

[johng]

11 hours ago, Anthony5 said:

Take note that in 1997 there weren't too many westerners in Thailand yet, so it can't have been caused by them.

 

Come on everyone knows that the Asian economic crisis of 1997  was caused by the IMF and all those other evil foreigners

[Anthony5]

13 minutes ago, johng said:

 

Come on everyone knows that the Asian economic crisis of 1997  was caused by the IMF and all those other evil foreigners

 

As far as I remember, at that time, they put the blame with a single foreign bank with an office in Bangkok. Think it was ABN-Amro.

[thaibeachlovers]

22 hours ago, Asiantravel said:

 

 

" Are you saying that Avenues is a success? "

 

never! Have you seen it recently? Things must be bad when they couldn't even get a  premium outlet store to work in that shopping centre. What I wa saying is that the shopping centre cheerleaders were using the non-air-conditioned environment as an excuse as to why that place has never worked. As opposed to the much simpler reason that there are far less people around now with money to spend

Don't know how long you have lived in Pattaya, but Avenues has never succeeded even when there were plenty of affluent people around. No one is going to shop at a non AC mall when there are loads of AC ones around. Royal garden was too close to Avenues for Avenues to take the local customers.

When even phone shops can't succeed one knows a place is in trouble and that was in 2011.

[thaibeachlovers]

6 hours ago, DMC1 said:

 

Plenty of Westerners here in 1997 & also that year there was a stock market crash. Maybe they had money invested outside that went tits up? Who knows the reason?

 

I always understood it was Soros that did it, though the whole rotton system was just a failure waiting to happen.

[thaibeachlovers]

15 hours ago, JSixpack said:

 

To recap and expand, we've now mentioned a couple of important rules of TVF economics: the Only One rule and My Eyeballs At Random Intervals. And by implication the Only Farangs Have Money rule, which makes luxury malls that might rely upon Thais, Chinese etc. a no-go from the start. That rule was most strongly invoked after Thailand dared raise visa fees in 2003. Hysteria reached a fever pitch as it was prophesied that all farangs would be leaving Thailand (unloved, unwanted--sniff!) so therefore the malls would all be closing and Thais would all have to go back to the rice paddies as Thailand returned to the Stone Age. Yep, that's how we think. And this is the biggest problem with the new malls, like Terminal 21: insufficient support from the Golden Eggs Layers, those economic powerhouses.

 

But I'm glad you've now brought up another important rule of TVF economics, one of the most naive, the No Change rule. This rule holds that for success a business has the same high volume, with plenty of customers to be eyeballed at any random interval, and the same high profit margins--forever. Business cycles are unheard of. External unavoidable macroeconomic shocks are unknown. Floods, coups, currency devaluations, pfft!

 

So a successful business must exist in a sort of perpetual tableau, like a shop in Pyongyang. It can never do less well. I mean, it might double its profit one year but if it makes 25% less the following year, then the 50% more the year after that means nothing. No Change has been violated: death could come at any time. The thought of investing at one of the low points in expectation of a rebound--huh? Wassat? Got muh passbook under muh pillow.

 

And if in a mall a business, even a few of a hundred mobile phone shops, has miscalculated the market and closes, the violation of TVF No Change extends to the entire mall! Yup, the entire mall is now failing. A Sign. Just as foretold. Knew it. Strange how it stays open anyway.

 

But No Change applies more broadly outside the mall. A bar closes, a shop closes after wrongly anticipating walk-in trade on Pattaya Nua where nobody's walking, then it means the entire city is near economic collapse. We get threads like the 2010 classic Why Is Everything Closing Down? It may be extended to the entire country--or the world, as posters begin to cite dire articles in the Daily Star or wherever. We love to cluck and nod wisely about the inevitable coming global apocalypse.

 

In short, your FACT means nothing much except in the context of TVF economics, hence was rightly ignored. Now we know your job here, hittin' one note and all, and got your point already that you think CPN is cookin' the books and Central deserted and bankrupt as will be Harbor and Terminal 21. Can we now just wait and see? BTW, if you need help learning to type--I had a wonderful teacher in the 10th grade, Mrs. Brown, bless 'er--you might try here: Learn How to Touch Type. Just sayin'.

 

 

 

I always said Festival was built in the wrong place- Jomptien would have been better, but IMO 21 will be built in the RIGHT place. Loads of big resorts in that area, it's not destroying anything worthwhile and I would like to use it, if it's as good as the Bkk one.

Another plus, it does not cause traffic build up along the bottlenecks of Beach and Second.

[thaibeachlovers]

On 28 สิงหาคม 2559 at 3:20 PM, bbi1 said:

Why Build a Terminal 21 in Pattaya? - to break up the monopoly that Central Festival has There's nowhere else decent to go hang out in a shopping centre. Soon there will be another. Oh, and Terminal 21 food court in BKK has the cheapest food out of any food court. If they do the same price in Pattaya then it will be nearly half the price of Central Festival. Plus the size of the food court will be double the size too hopefully.

Festival food court used to be very reasonable, but when the Russian boom happened it became ridiculous. Some items went up 50%.

I wonder if the prices have gone down as the Russians are no more- doubt it.

[thaibeachlovers]

On 28 สิงหาคม 2559 at 7:29 PM, tropo said:

A lot of Chinese shop at Central Festival. I was in one clothing shop there yesterday and I nearly forgot I was in Thailand - they're very loud.

But, how much do they actually buy? Everyone loves to window shop.

When I was in London I bought something in Harrods just to get the fancy bag as a souvenier, but they weren't going to make a profit off of me.

[johng]

21 minutes ago, thaibeachlovers said:

Avenues has never succeeded even when there were plenty of affluent people around. No one is going to shop at a non AC mall when there are loads of AC ones around.

 

Agree 100%  no aircon = no customers 

I'd say 50% of  customers in Central Festival  are only there for the aircon.

[Anthony5]

20 minutes ago, thaibeachlovers said:

I always said Festival was built in the wrong place- Jomptien would have been better, but IMO 21 will be built in the RIGHT place. Loads of big resorts in that area, it's not destroying anything worthwhile and I would like to use it, if it's as good as the Bkk one.

Another plus, it does not cause traffic build up along the bottlenecks of Beach and Second.

 

Nua road is now already unusable in the evenings, because of all the buses. You think it will get any better when there is a shopping center at the roundabout?

[tropo]

1 hour ago, thaibeachlovers said:

But, how much do they actually buy? Everyone loves to window shop.

When I was in London I bought something in Harrods just to get the fancy bag as a souvenier, but they weren't going to make a profit off of me.

It's a numbers game. Not everyone spends a lot, no matter what nationality you're looking at. You get enough Chinese through the doors, you get a lot of spending. The point is they ARE in Festival shopping. 

[thaibeachlovers]

1 hour ago, Anthony5 said:

 

Nua road is now already unusable in the evenings, because of all the buses. You think it will get any better when there is a shopping center at the roundabout?

No doubt this reply will bring criticism, but I don't care about North Rd being blocked. I use baht buses on the fixed route around Beach and Second, and if everyone is going to the new mall, as they will, it will make life better for us that use that route.

 

If it gets so bad as to make people not drive in Pattaya anymore, even better. Far too many cars clogging up the roads now. If I go elsewhere in Pattaya I'll be using a m'bike, so no problem to nip through the stationary cars and buses. Safer too, if the cars aren't moving.

Seems like a win win for non car owners in Pattaya.

[tropo]

1 hour ago, thaibeachlovers said:

No doubt this reply will bring criticism, but I don't care about North Rd being blocked. I use baht buses on the fixed route around Beach and Second, and if everyone is going to the new mall, as they will, it will make life better for us that use that route.

 

If it gets so bad as to make people not drive in Pattaya anymore, even better. Far too many cars clogging up the roads now. If I go elsewhere in Pattaya I'll be using a m'bike, so no problem to nip through the stationary cars and buses. Safer too, if the cars aren't moving.

Seems like a win win for non car owners in Pattaya.

I've noticed at night time when traffic is light they bypass the roundabout entirely, as though it's not there (coming from Naklua - heading to Beach Road). It stupid the way it is anyway - they should delete it.

[Bender]

On 8/29/2016 at 11:10 PM, Anthony5 said:

 

 

We all know long time already that you had a wonderful typing teacher, but you would have better had a good psychiatrist in your younger years, then you wouldn't feel the need to fill pages and pages with off topic drivel.

 

I didn't predict anything in my posts, something you don't seem to gather, I only mentioned some facts from the past and we all know that history repeats itself. And I also didn't made any comment about companies cooking their books, I simply said that only a fool doesn't know that the stock price often doesn't reflect the companies health.

 

My question to you was rather easy to comprehend, though you still fail to answer, so lets make it more simple for you as it is clear that I'm addressing a simple mind.

 

Do you deny that both Central Pattana and CP and quite a few others had, to the outside world at least, a wonderful business model in 1996 but only 1 year later they needed to sell big parts of their flagship to avoid bankruptcy?

 

Take note that in 1997 there weren't too many westerners in Thailand yet, so it can't have been caused by them.

"We all know long time already that you had a wonderful typing teacher, but you would have better had a good psychiatrist in your younger years, then you wouldn't feel the need to fill pages and pages with off topic drivel."

 

if i remember correctly, someone said that J6P's teacher, Ms Brown, did end up in jail. No one remember this?

Edited August 30, 2016 by Bender

[chiang mai]

On 29/08/2016 at 5:55 PM, Anthony5 said:

Selective reading again Jsixpack?

 

Why you so conveniently deleted the FACT from the post you quoted?

 

Here it is again in case you honestly missed it.

 

By the way Central Pattana was also doing great in 1996, opening Big C supercenters all over the country, until they had to sell a big part of their imperium to avoid bankruptcy only a year later.

 

Oh and there were others, like CP group for instance, who also were doing so great in 1996, but overnight had to sell half of their business.

 

I think it's very dangerous to try and use the 1997 as any sort of model for what might possible happen again in the future. The fact that CP Group and others financed their expansion by borrowing so heavily in USD but were then forced to retrench when the central bank was unable to sell long dated instruments that led to the collapse of the baht. Those lessons have been well learned and the central bank is a totally different animal today. http://www.columbia.edu/cu/thai/html/financial97_98.html

[thaibeachlovers]

19 hours ago, tropo said:

I've noticed at night time when traffic is light they bypass the roundabout entirely, as though it's not there (coming from Naklua - heading to Beach Road). It stupid the way it is anyway - they should delete it.

Dolphin roundabout was made at a time when the traffic was half or less of the present. They should be putting traffic lights in there.

[bkk6060]

I love Terminal 21.  It will be the #1 place to go in Pattaya I guarantee it.  Happy to see it here.

[Anthony5]

7 hours ago, thaibeachlovers said:

Dolphin roundabout was made at a time when the traffic was half or less of the present. They should be putting traffic lights in there.

There are traffic lights long time already

[bkk6060]

7 hours ago, thaibeachlovers said:

Dolphin roundabout was made at a time when the traffic was half or less of the present. They should be putting traffic lights in there.

Have you ever been to Europe?  Most intersections are roundabouts in fact they help move traffic much quicker.  A traffic light there is a terrrible idea.

[bkk6060]

On 8/29/2016 at 1:48 AM, Bender said:

i guess Terminal 21 will know the same faith than the Harbor Mall, after few weeks, the mall will be empty........

Yes the Harbor Mall is such a joke.  I cannot believe that place truly no food court per se, no movies, no decent shops.  If you have rug rats you can take them to the top floors, other then that it si a huge waste of time.