Siam News Network

New Delhi business newspaper economic times says that India and Thailand will sign a free trade agreement by the middle of this year, according to Thai Prime Minister Yingluck Shinawatra.

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Thailand to expand trade and investment with India

Sectors linked to external demand (namely, manufacturing, hotels and transport) have been the main contributors to growth since the 1997-98 Asian financial crisis, and have also determined the dynamics of the economy in 2008-09. These sectors have accounted for almost all of the annual changes in real GDP.
Overall, domestic demand should provide a positive but limited contribution to growth: vulnerable households lost ground in 2009 and risks are substantial in 2010, as falling agricultural output due to the current drought may offset opportunities from the improved overall economic environment. Household consumption levels, which are highly correlated with the poverty rate, contracted in 2009 despite the rebound in the last quarter of the year, suggesting a likely increase in the poverty rate compared to 2008, especially when compounded by the loss in purchasing power from the food and fuel crisis of 2008. The outlook for 2010 is uncertain : average wages are likely to increase, thanks to the reallocation of labor from agriculture to manufacturing. Although labor markets appear very tight, with unemployment below 1 %, the data do not account for the large number of workers who moved to lower-productivity jobs in agriculture and informal services due to the crisis. Many of these workers are now returning to manufacturing, which offers higher wages than agriculture.

Total shareholder returns (TSR) for 2009 are calculated by assuming that investors reinvest all cash received over the course of the year to determine a total return from one’s investment. The 2009 analysis covers 505 companies from the Stock Exchange of Thailand and the Market for Alternative Investment and is based on share valuations as of Dec 31 and dividend payments made over the 2009 calendar year.
The TSRs for the two groups are similar.

Thailand’s ICT Ministry told Facebook to block more accounts with suspected lèse majesté contents: 26,000 URL in Aug-Sept and 60,000 URL in Oct-[Nov]. Local Facebook users risk violating the computer law unknowingly by pressing the “like” or “share” button included with posted comment on anti-monarchy messages on Facebook, Thailand’s Information and Communication Technology Minister Anudith Nakornthap said.

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Thailand asks Facebook to block 60,000 accounts on lese majesté charges

Sectors linked to external demand (namely, manufacturing, hotels and transport) have been the main contributors to growth since the 1997-98 Asian financial crisis, and have also determined the dynamics of the economy in 2008-09. These sectors have accounted for almost all of the annual changes in real GDP.
While the Thai government is aware of the need for these reforms, political uncertainties have made it more challenging to pursue them

Chinese investment funds, Middle Eastern petrodollars — there is a huge amount of new money being channeled into the Asian capital markets.
Mr Pathom noted that past a certain level of market capitalization, investors appear to take a different view on valuations.

Hansar Bangkok was recently announced winner of the “Best City Hotel” category by the inaugural Boutique Hotel Awards (UK) which were held late last month.  Hansar is one of the most exclusive hotels in Bangkok.

The prominent Bangkok hotel, which carries a reputation as one of the regions most luxurious hotels, came first in front of Secret De Paris Hotel. Hansar Bangkok Hotel is a small, niche property in the heart of Thailand’s capital with only 94 suites. At a date of announcement, Hansar Bangkok also held the #1 of all hotels in Bangkok (among 642) on Tripadvisor . Hansar Hotel & resorts also operates Hansar Samui Resort located on charming Bophut Beach, Koh Samui. Hansar Samui was also recognized as a finalist for the same awards under the category “Best Beach Hotel”

Agence France-Presse/Getty Images A participant prepares for the opening ceremony for the Southeast Asian Games in Palembang. Indonesia, host of the Southeast Asian Games, is hoping a laser and fireworks show on Friday will start off the 11-day competition with a spectacle that will help everyone forget the scandal and delays that have plagued the competition this year. Building for the biennial mini-Olympics—to be held in the capital city of Jakarta as well as Palembang in Sumatra through Nov. 22—was derailed after authorities uncovered alleged bid-rigging in the contracts for some of the game venues.

The scandal hogged headlines for weeks, implicating politicians in high places, including the ruling Democratic Party.

Several people have been charged in the scandal, and various court proceedings are under way in the case. “It not only delayed everything but also tarnished our image. Our credibility was hurt by all the news coverage on that case,” said Rita Subowo, president of Indonesian Olympic Committee and chairman for the Indonesian SEA Games Organizing Committee. “But we are trying to keep our heads up and do our best to protect our organization and protect our athletes so they won’t be affected by all the rumors and bad news.” While the scandal delayed some construction, almost all of the buildings for the event, which will attract more than 3,000 athletes and tens of thousands of spectators, will be ready, Ms.

Subowo said. An anticipated shortage of hotel rooms has been met by four private ships, which have been called in as floating hotels to provide 700 extra rooms. Indonesia aims to be the top medal winner this time.

The archipelago used to dominate the games, grabbing the most gold in the 70s, 80s and 90s, but has lost its edge this century.

The country has struggled in the past 14 years to rebuild its economy and create a democracy after the meltdown of the late 1990s. Renewed confidence in the country, which now has the biggest population and economy of any of the 11 competing nations, could help it clinch a record haul of medals this year, some say.

Skeptics, however, say it’s sometimes more than just economic strength, training and confidence that decide the medal winners at the Southeast Asian Games. Host countries, which are allowed to pick the sports and the number of medals for the games, may manipulate the medal count by creating more medals in the sports in which they are strongest and reduce number in the sports their athletes don’t do well in. Indonesia this year introduced wall climbing, the martial arts kenpo and vovinam and the card game bridge for the first time to the games. If spectators are not wowed by the fireworks Friday, or the game’s mascots—towering komodo dragons “Modo” and “Modi”—they should at least tune in for the inspirational music. One of the event’s theme songs, “United and Rising,” was composed by President Susilo Bambang Yudhoyono and Trade Minister Gita Wirjawan. – Yayu Yuniar contributed to this post.

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Scandal-Plagued Games Start With a Bang

The Commerce Permanent Secretary believes that the consumer goods supply shortage situation will improve within the week. Commerce Ministry Permanent Secretary, Yanyong Puangraj said many major department stores have been distributing products to their branches in the affected areas in order to solve the supply shortage situation.

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Product Shortages to Ease This Week

Sectors linked to external demand (namely, manufacturing, hotels and transport) have been the main contributors to growth since the 1997-98 Asian financial crisis, and have also determined the dynamics of the economy in 2008-09. These sectors have accounted for almost all of the annual changes in real GDP.
While the Thai government is aware of the need for these reforms, political uncertainties have made it more challenging to pursue them

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.
So small free floats and poor disclosure tend to create a vicious cycle,’’ Mr Wood said.

Despite the failure of the BSE, the concept of an orderly, officially supported securities market in Thailand had by then attracted considerable attention. In this regard, the Second National Economic and Social Development Plan (1967-1971) proposed, for the first time,
a plan for the establishment of such a market, with appropriate facilities and procedures for securities trading.

In 1969, as recommended by the World Bank, the government acquired the services of Professor Sidney M. Robbins from Columbia University to study the development channels of the Thai capital market. Professor Robbins had previously served as Chief Economist at the United States Securities and Exchange Commission. The same year proved an eventful one for the Thai capital market, as the Bank of Thailand also formed a Working Group on Capital Market Development, which was assigned the task of establishing the stock market. A year later, in 1970, Professor Robbins produced a comprehensive report entitled “A Capital Market in Thailand”. This report became the master plan for the future development of the Thai capital market.

The worst bout of flooding to hit Thailand in decades is wreaking havoc on automotive production in the kingdom, among the many businesses and livelihoods that have been affected.

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Ayutthaya submerged, Thailand’s automotive production stalled

Sectors linked to external demand (namely, manufacturing, hotels and transport) have been the main contributors to growth since the 1997-98 Asian financial crisis, and have also determined the dynamics of the economy in 2008-09. These sectors have accounted for almost all of the annual changes in real GDP.
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

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.

Thailand Business News

The Government’s rice pledging scheme will begin tomorrow to boost income for 37 millions Thais and stimulate domestic spending. Share this Article

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Rice pledging scheme aim to boost income for 37 millions Thais

Sectors linked to external demand (namely, manufacturing, hotels and transport) have been the main contributors to growth since the 1997-98 Asian financial crisis, and have also determined the dynamics of the economy in 2008-09. These sectors have accounted for almost all of the annual changes in real GDP.
Government consumption will likely contract due to the phase-out of consumption measures of the first fiscal stimulus package. Investment is expected to recover, as capacity utilization rises and deferred maintenance, machine replacements and limited expansion of existing plants take place. In addition, there are indications that construction investment, long subdued, may be picking up.

With economic pundits forecasting that Asian economies will lead global growth over the next few years, led by emerging giants China and India, it seems logical that investors will shift their funds to Thai and Asian equity markets in search of higher yields.
Thai valuations still trail the region considerably. Price-to-earnings multiples for the Thai market were 18.9 times for 2009, compared to, say, 25 to 30 times for the Australian, Japanese and Shanghai markets and valuations could be higher, if not for the political instability in Thailand over the past several years.

Thailand Business News

ASEAN is actively discussing a common target for the region to work towards having a higher percentage of renewable energy sources and new energy technologies, such as cleaner coal technology, in the regional energy mix, including the projected targets until 2030 Share this Article

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ASEAN to Accelerate Energy Connectivity

Sectors linked to external demand (namely, manufacturing, hotels and transport) have been the main contributors to growth since the 1997-98 Asian financial crisis, and have also determined the dynamics of the economy in 2008-09. These sectors have accounted for almost all of the annual changes in real GDP.
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.

‘‘The bigger Thai companies going on international road shows still stop in the US, Europe, Hong Kong and Singapore. But a few are also beginning to go to China and the Middle East as well,’’ Mr Wood said.
‘‘Institutional investors want to have the ability to get in or out of a stock without significantly influencing the share price.