Thai economy protected by resilient fundamental, says bank

[snoop1130]

Thai economy protected by resilient fundamental, says bank

By The Nation

 

 

Resilient fundamentals should shield Thailand’s economy from global shocks, particularly US President Donald Trump’s policies and political uncertainties in Europe, according to Standard Chartered Bank (Thai).

 

It said Thailand’s strong fundamentals included accelerated government investment, low government debt, the easing household debt burden, improved exports and strong tourism. 

 

The bank said the country’s gross domestic profit was anticipated to rise to 3.5 per cent in 2017 and then increase to 4.3 per cent in 2018 and to 5 per cent in 2019.

 

Full Story: http://www.nationmultimedia.com/news/breakingnews/30306595

 

-- © Copyright The Nation 2017-2-17

[EyesWideOpen]

Haha as soon as I saw this headline, I thought the resilient

fundamental was the cute Thai girls that draw tourists from

around the world...... 

 

[wakeupplease]

Next joke please

[PatOngo]

Money to burn......time to buy a Chinese submarine!

[funandsuninbangkok]

Standard Chartered is leaving Thailand after being here over 100 years. 

 

But hey, don't worry!  Everything is cool!!

[chiang mai]

7 minutes ago, funandsuninbangkok said:

Standard Chartered is leaving Thailand after being here over 100 years. 

 

But hey, don't worry!  Everything is cool!!

 

Standard Chartered Bank is selling its retail banking arm (only) because it can't compete effectively in Thailand and make the sort of profit it wants to make, it's nothing to do with Thailand, it's all about the Thai banking market which is very very competitive.

 

https://www.bloomberg.com/news/articles/2016-12-22/standard-chartered-to-exit-retail-banking-in-thailand-next-year

[chiang mai]

1 hour ago, wakeupplease said:

Next joke please

You don't understand economics, do you, we can tell!

[IMA_FARANG]

Yes, don't worry.

This ship is unsinkable.

After all, the dance band is playing  music here on the great ship Titanic.

Which is, as we are told unsinkable.

So pay no attention to all that nonsense about icebergs.

Here on the great ship, Titanic.I

[funandsuninbangkok]

13 minutes ago, chiang mai said:

 

Standard Chartered Bank is selling its retail banking arm (only) because it can't compete effectively in Thailand and make the sort of profit it wants to make, it's nothing to do with Thailand, it's all about the Thai banking market which is very very competitive.

 

https://www.bloomberg.com/news/articles/2016-12-22/standard-chartered-to-exit-retail-banking-in-thailand-next-year

Uh huh?

[whatawonderfulday]

30 minutes ago, chiang mai said:

 

Standard Chartered Bank is selling its retail banking arm (only) because it can't compete effectively in Thailand and make the sort of profit it wants to make, it's nothing to do with Thailand, it's all about the Thai banking market which is very very competitive.

 

https://www.bloomberg.com/news/articles/2016-12-22/standard-chartered-to-exit-retail-banking-in-thailand-next-year

My at*e is it competitive.  There are so many restrictions placed on foreign banks of course it is difficult to remain competitive in the retail sector, exactly why HSBC retail division pulled out of Thailand a few years ago.  And why ? well each bank in general are owned by families, or a massive fund,  with links to you know who.  So protectionism and "creaming" at its best. In fact Thai banks offer the customer some of the worst services and transaction costs in the world.

[the guest]

Amazing Thailand ..... they really are living in la la land.

[SoilSpoil]

What easing of household debt?

 

[bangkok101]

whats going to protect them when their oil reserves run dry in 2018? How about Thai Oil running the oil refinery at 103% of capacity and blows up? Then, where will the electricity come from when the gas well dries up....but Prayut has a solution for the electricity shortage; "shut the lights off in shopping malls..."

 

And, now, some farmer in Iowa figured out to grow homme mali rice at 4X the yield / acre at half the price of Thai rice, thai rice exports in the toilet, but good news, Thailand reports tourism accounts for 17% of GDP...prostitution pays very well!! Congrats mr. PM.

 

But on a positive note: monks are invisible and can walk on water, something to be proud of. 

 

Couldn't plan a hummer in a queer bar!

[Srikcir]

15 hours ago, snoop1130 said:

Thai economy protected by resilient fundamental, says bank

Lies, lies lies....

Are very resilient

[soalbundy]

12 minutes ago, Srikcir said:

Lies, lies lies....

Are very resilient

I wouldn't say that, all the economists reports on Thailand that i have read are saying the same thing, no sign of danger anywhere apparently except for one thing, political stability. If the elections ever really happen and PTP  or a similar party win then watch out for social upheaval and an economic downturn when the military seek to kick them from power.

[chiang mai]

4 hours ago, whatawonderfulday said:

My at*e is it competitive.  There are so many restrictions placed on foreign banks of course it is difficult to remain competitive in the retail sector, exactly why HSBC retail division pulled out of Thailand a few years ago.  And why ? well each bank in general are owned by families, or a massive fund,  with links to you know who.  So protectionism and "creaming" at its best. In fact Thai banks offer the customer some of the worst services and transaction costs in the world.

Rubbish!

 

What restrictions are placed on foreign banks that are not easily met?

 

HSBC closed it's retail branch in Thailand for exactly the same reason that SC has, that plus the absence of a branch network - for HSBC their departure was about corporate profitability or the lack of in Thailand.

 

As for banks here being owned by by families:

 

BAY is owned effectively by Bank Mitsubishi.

Tanachart is owned by Scotiabank Netherlands,

TMB is owned by the Thai governement and by ING plus some US holdings.

 

Finally, please back up the following statement with proof: " In fact Thai banks offer the customer some of the worst services and transaction costs in the world".

 

 

 

[somo]

1 hour ago, soalbundy said:

I wouldn't say that, all the economists reports on Thailand that i have read are saying the same thing, no sign of danger anywhere apparently except for one thing, political stability. If the elections ever really happen and PTP  or a similar party win then watch out for social upheaval and an economic downturn when the military seek to kick them from power.

Quite right. People here automatically criticise Thailand without any evidence or thought. International investors are not daft and the strength of the Baht reflects their view that the economy is healthy and it's prospects are good. As you say political upheaval may upset things but even then Thailand has shown a remarkable ability to minimise the effect of such events on the economy.

I have seen some here say the Baht is being manipulated by the Gov. A daft assertion as they would prefer a weaker Baht if anything in order to boost exports and tourism.

 

[funandsuninbangkok]

18 minutes ago, somo said:

Quite right. People here automatically criticise Thailand without any evidence or thought. International investors are not daft and the strength of the Baht reflects their view that the economy is healthy and it's prospects are good. As you say political upheaval may upset things but even then Thailand has shown a remarkable ability to minimise the effect of such events on the economy.

I have seen some here say the Baht is being manipulated by the Gov. A daft assertion as they would prefer a weaker Baht if anything in order to boost exports and tourism.

 

 

Don't worry. Everything AOK!!!

 

http://www.zerohedge.com/news/2017-01-20/its-housing-bubble-pops-chinese-real-estate-firms-halt-monthly-pricing-data

 

 

[somo]

27 minutes ago, funandsuninbangkok said:

 

Don't worry. Everything AOK!!!

 

http://www.zerohedge.com/news/2017-01-20/its-housing-bubble-pops-chinese-real-estate-firms-halt-monthly-pricing-data

 

 

sorry but I fail to see the relevance of the link to what I said.

 

 

 

[whatawonderfulday]

1 hour ago, chiang mai said:

Rubbish!

 

What restrictions are placed on foreign banks that are not easily met?

 

HSBC closed it's retail branch in Thailand for exactly the same reason that SC has, that plus the absence of a branch network - for HSBC their departure was about corporate profitability or the lack of in Thailand.

 

As for banks here being owned by by families:

 

BAY is owned effectively by Bank Mitsubishi.

Tanachart is owned by Scotiabank Netherlands,

TMB is owned by the Thai governement and by ING plus some US holdings.

 

Finally, please back up the following statement with proof: " In fact Thai banks offer the customer some of the worst services and transaction costs in the world".

 

 

 

Total rubbish. Check the share holdings at Thai companies Register. But maybe you can not read Thai adequately ? As for TMB you are correct that it  has a governmental shareholding. That proves my point exactly as you should know who pulls the string of this or any other government. If you don't then it proves your ignorance of the subject matter.  Case closed.

[Eric Loh]

The bankers may be right that our fundamental is strong but they are explaining half of the truth. Yes our foreign reserves at USD180 B, BBB+ credit rating and low debt to GDP are positive but those are backward looking data. What holds the future when we continously increased our budget deficit last over 2.5% when our average is 1.2%, spent most of our treasury reserved and our debt to GDP keep increasing from average 40% to current 46%. The bankers assumed that our GDP can grow up to 4%, increase export to 4% and inflation remain low. If this junta government keep this rate of spending with no accountability and the global evonomy remains stagnate, the fundamentals will not last forever. Take Argentina as an good example Khun Bankers.

[zorro1]

Quite right. People here automatically criticise Thailand without any evidence or thought. International investors are not daft and the strength of the Baht reflects their view that the economy is healthy and it's prospects are good. As you say political upheaval may upset things but even then Thailand has shown a remarkable ability to minimise the effect of such events on the economy.
I have seen some here say the Baht is being manipulated by the Gov. A daft assertion as they would prefer a weaker Baht if anything in order to boost exports and tourism.
 

Apparently If you believe most posters, Thailand is the land of prop ups.

Baht is propt
SET is propt
Condo market is propt
Tourism is propt
Economy is propt

There must be a secret department deep on the bowels of government called.. You guessed it, the prop up department. Shady men in black proping things LOL

Sent from my Redmi Note 3 using Tapatalk

[elgordo38]

8 hours ago, chiang mai said:

 

Standard Chartered Bank is selling its retail banking arm (only) because it can't compete effectively in Thailand and make the sort of profit it wants to make, it's nothing to do with Thailand, it's all about the Thai banking market which is very very competitive.

 

https://www.bloomberg.com/news/articles/2016-12-22/standard-chartered-to-exit-retail-banking-in-thailand-next-year

I have to agree on the very competitive part. Whenever I roll over my term deposit I wait for the girl to tell me that there is no interest payable but that I must pay a "small" service charge to park my money there. Just another small step for mankind in making fiat money obsolete 

[elgordo38]

You just gotta love these terms in their ruminating "resilient fundamental"  "accelerated government investment, low government debt, the easing household debt burden, improved exports and strong tourism."   "The bank said the country’s gross domestic profit was anticipated to rise to 3.5 per cent in 2017 and then increase to 4.3 per cent in 2018 and to 5 per cent in 2019." I just want to burst out in song and the words of that famous song comes to mind well partially anways "Land of hope and glory" etc. etc. etc. Sounds like a replay of all that horse pucky I have been exposed to over the generations. 

[chiang mai]

4 hours ago, whatawonderfulday said:

Total rubbish. Check the share holdings at Thai companies Register. But maybe you can not read Thai adequately ? As for TMB you are correct that it  has a governmental shareholding. That proves my point exactly as you should know who pulls the string of this or any other government. If you don't then it proves your ignorance of the subject matter.  Case closed.

Case closed, it never got opened, you didn't respond to any of the points I raised with any fact or even a rebuttal other than opinion!

[khunken]

4 hours ago, whatawonderfulday said:

Total rubbish. Check the share holdings at Thai companies Register. But maybe you can not read Thai adequately ? As for TMB you are correct that it  has a governmental shareholding. That proves my point exactly as you should know who pulls the string of this or any other government. If you don't then it proves your ignorance of the subject matter.  Case closed.

When you are in a hole writing rubbish it's better for any one with sense to stop digging.

Chiang Mai knows what he's writing about and you obviously don't. There are exactly 2 banks owned by Thai-Chinese families - Bangkok Bank & Kasikorn Bank. SCB & KTB are effectively government owned. In addition to the banks mentioned by Chiang Mai there are quite a few others owned by foreigners, including:

UOB - Singapore (UOB)

LH Bank - Singapore (Land & Houses)

CIMB - Malaysia (CIMB)

 

I have had quite a number of bank accounts in different countries (US, UK, Ireland, Kuwait, PNG, Australia, & in a number of offshore locations. Thai banking is as good & as competetive as any &, in the main, has good service.

[whatawonderfulday]

Just now, chiang mai said:

Case closed, it never got opened, you didn't respond to any of the points I raised with any fact or even a rebuttal other than opinion!

Actually I did so I can only suggest you may be associated with perhaps a similarly of anchor.  Clearly supporting my original assertion of your total ignorance in the matter  exemplified by your response. Therefore I would suggest you reply no further so that TH readers are no further advertised of your factual short comings and ignorance. Have a nice day and return to your  burrow.

[chiang mai]

3 hours ago, zorro1 said:

Apparently If you believe most posters, Thailand is the land of prop ups.

Baht is propt
SET is propt
Condo market is propt
Tourism is propt
Economy is propt

There must be a secret department deep on the bowels of government called.. You guessed it, the prop up department. Shady men in black proping things LOL

Sent from my Redmi Note 3 using Tapatalk
 

No more sauce for you my boy, best take a nice lay down and it'll all be better tomorrow.

[chiang mai]

2 minutes ago, whatawonderfulday said:

Actually I did so I can only suggest you may be associated with perhaps a similarly of anchor.  Clearly supporting my original assertion of your total ignorance in the matter  exemplified by your response. Therefore I would suggest you reply no further so that TH readers are no further advertised of your factual short comings and ignorance. Have a nice day and return to your  burrow.

And no more for you either!

[chainarong]

Any one have any idea just what a Resilient fundamentals is.........................................