Siam News Network

Pretty damn cool.  I’m still waiting for my chance to ride in it! It’s good to have a pipe dream every time I get into a taxi where the air conditioning doesn’t work and the driver starts to carry out awkward conversation in broken English in the middle of an iconic Bangkok traffic jam. 

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VIDEO: One of the coolest taxis you’ll ever find in Bangkok

Many activities have been planned in Bangkok and other major provinces in celebration of the upcoming Chinese New Year and to welcome the Year of the Dragon.This years Chinese New Year’s Day falls on January 23.

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Thailand plans Big Celebration for Chinese Year of the Dragon

The output of other sectors was also affected during the recent crisis, although less markedly because they had been growing slower than the sectors linked to external demand.
Policies that could contribute to reducing Thailand’s dependence on foreign demand include a phased liberalization of the services sector, boosting transport infrastructure, a reform of educational curricula and improved access and quality of higher education to boost skills of the labor force, better integration of universities, firms and government, and improved social safety nets

Pathom Yongvanich, a founding partner of PYI, says Asian markets have not only benefited from the inflow of international capital, but also from the growing sophistication of Asian investors themselves.
Mr Pathom noted that past a certain level of market capitalization, investors appear to take a different view on valuations.

The Center for International Trade Studies at the University of Thai Chamber of Commerce expects Thai export to grow by only 6.8 to 13.7 percent with a total value of 259 billion U.S. dollars due to several risk factors.

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Chamber of Commerce Predicts Export Growth for 2012 between 6.8 to 13.7%

At the end of 2009, real GDP was back at pre-crisis levels, as measured in seasonally adjusted terms.
The continuation of certain government policies, especially the pension to the elderly and free education should also support higher consumption levels for the poor. The longer-term goal of reducing reliance on external demand will take time, especially given political uncertainties that hinder the government’s ability to implement not only its investment program but also needed structural reforms.

Lagging the chart was paper and printing materials, with a -1.3% TSR for 2009, professional services with a meager 4.5% gain, and property funds up 31%.The Shareholder Scorecard, published annually by the Bangkok Post and the AWR Lloyd-PYI group, is an analysis of the two factors that underlie investor returns — dividends and capital gains.
In part, this may reflect the greater volatility in earnings in smaller companies.
Introduction The modern Thai Capital Market traces its origins back to the early 1960s. In 1961 Thailand implemented its first five-year National Economic and Social Development Plan to support the promotion of economic growth and stability as well as to develop the Kingdom’s standard of living. Following upon this, the Second National Economic and Social Development Plan (1967-1971) then proposed for the first time that an orderly securities market be established in order to mobilize additional capital for national economic development.

The creation of Thailand’s first officially sanctioned and regulated securities market was initially proposed as part of the Second National Economic and Social Development Plan (1967-1971). In outlining its proposal for the creation of a supervised securities market, the Second National Development Plan stressed that the market’s most important role would be to mobilize funds to support Thailand’s industrialization and economic development.

Burma’s pro-democracy leader Aung San Suu Kyi met late Monday at her lakeside home with billionaire American philanthropist George Soros, the latest public figure to pay the Nobel Prize laureate a visit since her release a year ago from 15 years of on-and-off house arrest.

Soros, whose foundation supports grantees that provide uncensored news on Burma and activists who call public attention to abuse of power, arrives in the wake of a stream of visits, predominantly by senior foreign dignitaries.

Political Science Professor Carl Thayer of the Australian Defense Force Academy says influential business and political leaders are lining up to ride the crest of change in Burma and to reinforce reform efforts.

“As intelligent as she is, she has been relatively isolated,” he says. “And she needs, I think, the advice of people like Soros and others, the financing and foundations, and people on the ground to provide and reinforce her efforts.”

In the past month, Aung San Suu Kyi met with the U.S. Secretary of State Hillary Clinton, Thailand’s Prime Minister Yingluck Shinawatra, and foreign ministers from Indonesia and Japan. Later this week, British Foreign Secretary William Hague is expected to visit.

Hague’s visit will coincide with a general amnesty for prisoners announced Monday by Burma’s state media.

In what is typically a regular gesture to mark Burma’s Independence Day, selected prisoners will have their sentences reduced beginning Tuesday. It is not clear how many in jail will be affected by the amnesty or how many political prisoners will be included.

Burma is holding hundreds of people for their political beliefs. Clinton and other officials visiting Burma have joined Aung San Suu Kyi in calling for their immediate release.

Thitinan Pongsudhirak, Director of the Institute of Security and International Studies at Bangkok’s Chulalongkorn University, says Clinton’s visit opened the way for diplomatic engagement with Burma, also known as Myanmar.

“It is a green light for other countries to begin to lift sanctions [and] provide development assistance,” he says. “They have to be careful by not promoting the commercial interests too much too soon. There are some dissident groups that see all of this as a big kind of commercial deal.”

Burma is a major source of natural gas, gems, and timber, but trade is limited by Western countries because of economic sanctions over the military’s suppression of democracy and human rights.

Since the government of President Thein Sein took office in March, replacing overt military rule, it won praise for a series of liberal political and economic moves. President Thein Sein held direct talks with Aung San Suu Kyi after assuming office.

Thitinan says cooperation between the two is vital for the momentum of reform to be sustained. He says there are still hardliners in the government who would derail the process if it goes too fast.

“The momentum that we are seeing is just unprecedented and breathtaking,” he says. “It is going to be difficult to reverse some of it without incurring a great cost to the Myanmar rulers. Even if they want to slow it down, to reverse it, now they are in too deep. Now I think leading up to the Myanmar chairmanship of ASEAN 2014. I expect the reforms to be sustained.”

On Sunday, Burmese authorities hiked gas prices by 30 percent. A similar unannounced price jump in 2007 sparked protests that were later crushed by the military.

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In Burma, Visiting Dignitaries Line Up to Ride Crest of Change

The Finance Ministry is preparing to modify related laws in order to force private banks to pay 15 billion baht to the Deposit Protection Agency, which will be part of 30 billion baht used to pay off interests incurred by the Financial Institutions Development Fund. Finance Minister Thirachai Phuvanatnaranubala has announced that officials have agreed on how the 45 billion baht in interests incurred by the Financial Institutions Development Fund would be paid off.

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Ministry to Push for More Banks’ Contribution to Deposit Protection

Real GDP fell 6.3 percent between the third quarter of 2008 and the first quarter of 2009, as global demand slumped, before rebounding 6.9 percent through the end of 2009. The rebound was due to a recovery in global demand, an end to inventory liquidation and a pickup in private consumption as confidence returned.
The continuation of certain government policies, especially the pension to the elderly and free education should also support higher consumption levels for the poor. The longer-term goal of reducing reliance on external demand will take time, especially given political uncertainties that hinder the government’s ability to implement not only its investment program but also needed structural reforms.

In Vietnam, households use to held their savings in cash or real estate. With the opening of the stock market, you have seen a tremendous shift of funds into the capital market.
‘‘Institutional investors want to have the ability to get in or out of a stock without significantly influencing the share price.

The modern Thai capital market can essentially be divided into two phases, beginning with “The Bangkok Stock Exchange” which was privately owned, followed by the establishment of “The Securities Exchange of Thailand”.

The inception of the Thai stock market began as far back as July 1962, when a private group established an organized stock exchange as a limited partnership. The group later became a limited company and changed its name to the “Bangkok Stock Exchange Co., Ltd.” (BSE) in 1963.
Despite its well-intended foundation the BSE was rather inactive. Annual turnover value consisted of only 160 million baht in 1968, and 114 million baht in 1969. Trading volumes continued to fall sharply thereafter to 46 million baht in 1970, and then 28 million baht in 1971. The turnover in debentures reached 87 million baht in 1972, but stocks continued to perform poorly, with turnover hitting an all time low of only 26 million baht. The BSE finally ceased operations in the early 1970s.

It is generally accepted that the BSE failed to succeed because of a lack of official government support and a limited investor understanding of the equity market.

Bangkok’s Governor and head of Bangkok’s flood relief efforts, Sukhumbhand Paribatra, has declared that flooding  in the Thai capital has complete receded. Bangkok’s Governor Sukhumbhand Paribatra declares Bangkok dry. He also said that officials from the Bangkok Metropolitan Authority (BMA) had removed 644,788 tonnes of garbage leftover from the floods from October 15 until now. Garbage is still yet to be removed from some of the areas that have only recently been free of floodwaters, including Don Mueang, Lak Si, Bang Khen, Sai Mai, Bang Khae, Nong Khaem, Thawee Wattana and Taling Chan.

The garbage that remains leftover following the floods is expected to be removed by Monday, with the exception of Nong Khaem, which will be removed by Wednesday at the latest. Mr Sukhumbhand also pointed out that the BMA and public health officials had received strong praise from the World Health Organisation (WHO) for work carried out to prevent any serious outbreak of flood related diseases.  Mosquito prevention operations will continue on a daily basis until the middle of January.

The Governor spoke highly of city officials for their outstanding work during the crisis, with many suffering personally due to the flooding as it gripped the outer suburbs of Bangkok for around two months. He also highlighted the exceptional work carried out by almost 4,000  volunteers that helped clean the city following the foods. Related Video

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Bangkok Governor declares city free of floods

Bangkok and Central Region: happy_new_year Bangkok Countdown Ha Ha Ha 2012 on December 31, 2011 at CentralWorld Square, Ratchaprasong Make a Wish Countdown 2012 on December 31, 2011 at the Park Paragon, Siam Paragon Ploenchit Happiness on December 18, 2011 / 14.00-22.00 hrs between Ploenchit and Chidlom Roads 9 Sacred Places on December 17-18 and 24-25, 31, 2011 and January 1-2, 7-8 and 14-15, 2012 at Rattanakosin Island and along the Chao Phraya River. Miracle Smile@Thailand on December 24-25, 2011, Khao San and Tanao Roads Annual Merit Making 2012 on January 1, 2012 at the urban area, BMA Office New Year Festival at Bang Nam Pheung Floating Market on December 31, 2011, Samut Prakan province Christmas@Chachoengsao on December 24-25 and 31, 2011, near Bang Pa Kong River, Chachoengsao province Khon Kaen: Amazing Fantasy World on December 29-31, 2011 at Si Chan Road, Khon Kaen province. Hat Yai: Night Paradise Hat Yai Countdown 2012 on December 30-31, 2011 at the Odeon Fashion Mall, Hat Yai, Songkhla province Phuket: Colourful Phuket Countdown 2012 on December 29-31, 2011 at the Sanamchai Ground Phuket Electronic Music and Dance Festival 2012 on December 30-31, 2011, Karon Beach Chiang Mai and Chiang Rai: Countdown 2012 on December 31, 2011 to January 1, 2012 at the Chalermprakiat Hall New Year’s Eve and Happy New Year 2012 on December 30, 2011 to January 1, 2012 in Chiang Saen district

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New Years Eve celebrations around Thailand

Thailand Business News –

The Thanachart Bank Thailand Property Awards were first held in 2006. Now in their sixth year, the awards aim to promote, reward and showcase the best in Thailand’s real estate industry.

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Winners of Thailand Property Awards 2011 Announced

While focusing on different products, detached houses and townhomes in greater Bangkok, the company spent much of last year improving its key financial ratios.

Several factors have contributed to the strong and rapid rebound.

The mid to high-end segment boomed this year in Thailand as demand was wide and remained strong. The high-end will recover in the third or fourth quarter. But supply in this segment is very limited due to scarcity of land for new developments. Around 80% of the new launch in this segment was taken up. New supply in the high-end segment, now quoted at 150,000 to 200,000 baht a square metre, will be provided by developers with a strong financial status, experienced teams and products that match demand.
Currently, the MahaNakhon project is the only new high-end project in the pipeline. The Sukhothai Residence project on Sathorn Road, which is 70% sold, has frozen sales until demand can sustain the desired prices.