Posts Tagged ‘international’
Friday, April 30th, 2010
The private sector has indicated that political factors are a major drawback for the economy at present, while suggesting the government solve the problem of in order to improve the country’s competitiveness, Thai News Agency (TNA) reports.
Thanit Sorat, vice-chairman of the Federation of Thai Industries (FTI), says that the World Economic Forum’s ranking of Thailand’s competitiveness at 36, down from 34 last year, “reflects a negative future” for the economy.
He said Thailand was facing obstacles in business due to obsolete laws and had been noted by foreign investors for its corruption problems. The government needs to quickly establish solutions to the problem since it was severely “obstructing national development”, he said.
Thanit said the decrease in competitiveness had resulted in a decline in private investment. He said government support under its Strong Thailand scheme was only aimed at injecting funds into the economic system, but was not efficient at stimulating private investment. – TNA.
Tags: Asia, Asia-Pacific, baht, Bangkok, business, company, economy, international, market, Phuket, price, Thailand, US, value, world
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Friday, April 30th, 2010
Looking to increase overseas airlift into the resort island of Koh Samui, Bangkok Airways has announced plans to use the privately operated airport into its second international hub. While reportedly targeting mid range locations, no firm routes have been finalized.
While a new half a billion baht upgraded terminal was brought into service last year, restrictions on limited daily flights to 36 per day have restrained tourism growth. Linking this are environmental controls and a limit on hours in which flight landings and take offs are allowed.
Bangkok Airways who have a controlling stake in the airport continue to dominate the traffic into the island, though Thai Airways does have limited domestic services. The airlines international routes to the island is limited, highlighted by Hong Kong and Singapore service; while Malaysia’s Firefly and Berjaya Air both fly from Thailand’s southern neighbor.
Tags: airline, Asean, Asia, Asia-Pacific, baht, Bangkok, flights, hotel, industry, international, islands, Koh Samui, Phuket, Samui, Thailand, tourism, tourists
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Thursday, April 8th, 2010
A year after Asian stocks began to rise, investors should turn their attention to Southeast Asia, which lagged the wider rally and where exporters are set to thrive on growth in China and India.
Southeast Asian markets, suffering from export weakness and political risk, were overshadowed until late last year by China’s investment-fuelled growth, which boosted neighbours South Korea and Taiwan.
That rebound has now fed through to Southeast Asia, whose exporters look set to turn around quicker than economists had expected to drive economic growth in the region. One result — Malaysia’s surprise decision last week to raise its policy rate for the first time since 2006.
Investors will likely focus more on high returns and value with some tipping another strong year for Indonesian bonds and Thailand as offering the strongest earnings yield.
They will largely push aside serious political risks, though Indonesian stocks have been hurt recently by a parliament call for a criminal investigation of the two top reformers in southeast’s biggest economy.
Last Tuesday marked the one-year anniversary of the S&P 500’s 13-year closing low. Since then, the MSCI index of non-Japan Asia-Pacific stocks has risen 105%. In contrast, Malaysia’s main index has risen 57%, Thailand’s 75% and the Philippines’ 78%.
Indonesia was one of Asia’s star attractions last year, thanks to domestically driven growth, relatively low inflation and high bond yields that continue to attract foreign investors.
In addition, equity markets in Malaysia, the Philippines and Thailand have been outperforming non-Japan Asia this year based on value and may continue to do so as growth forecasts rise.
“Taiwan, China, Korea — these stories have been very well documented for more than a year and to some extent Southeast Asian markets have been neglected by investors,” said Tai Hui, an economist with Standard Chartered in Singapore.
“As markets calm down, investors will be looking for new trade ideas and the forgotten ones will be brought back.”
In Malaysia, Indonesia and Thailand, exports to China are running far above their long-term averages while shipments to the US and Europe are lagging, indicating a greater reliance on Chinese growth.
India’s trade with Southeast Asia is worth only a fifth of China’s, but Tai Hui believes it will catch up quickly because of its domestically-driven growth model.
Higher growth of course means interest rates later this year, but holding local currency bonds may continue to be lucrative, with currency strength and high coupon payments offsetting potential capital losses.
Take Indonesia for example. After equity-like returns of near 40% in US dollar terms on rupiah bonds in 2009, HSBC expects another 10%-13% this year, even factoring in a full percentage point of rate increases.
“Funds are beginning to gravitate towards (Asean) debt because of their strong fiscal positions relative to what they were like in the wake of the Asian financial crisis and prospects of currency gains,” said Desmond Soon, head of fixed income at DBS Asset Management in Singapore.
“These flows, barring a crisis of seismic positions, will gain,” said Soon.
Memories of central banks constantly behind the curve in dealing with double-digit inflation are one reason why investors have been slow to gain exposure to Southeast Asia.
Tags: Asean, Asia, Asia-Pacific, Bangkok, economy, export, international, investors, market, Phuket, Southeast, Thailand
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Thursday, March 25th, 2010
Phuket International Airport may have seen only a slight increase in passenger throughput last year, compared with 2007, but its owner, the Airports Authority of Thailand (AOT), clearly believes the global financial crisis will have no long-term effect on the island’s ability to attract ever-growing numbers of airlines and visitors.
The government in Bangkok plainly agrees – it has just approved a 5.8-billion-baht (US$175 million) plan to increase the airport’s capacity to 12.5 million passengers by 2018. This is on top of the recently completed second terminal, which increased capacity to 6.5 million passengers a year, at a cost of 516 million baht.
This year, the AOT expects the airport to accommodate 41,000 flights and about 6 million passengers, already close to terminal capacity. Part of the reason for this is the popularity of the airport – which charges lower landing fees than Bangkok’s Suvarnabhumi – with low-cost carriers. One of these was Air Asia, which made Phuket a regional hub earlier this year, providing direct flights between the island and Vietnam, Indonesia and Hong Kong.
The B5.8 billion budget will pay for the construction of more taxiways, 11 parking bays for aircraft, a new international passenger terminal, conversion of the existing international terminal into a domestic terminal, a new cargo building, new roads and improved transport systems, a parking garage for the international terminal, improvements in car parking areas, and a new airport office and airline offices. It will be funded entirely by revenue from the AOT, a listed company majority-owned by the state.
The Phuket Observer, Feb. 2010
Tags: airline, airport, AOT, Asean, Asia, Asia-Pacific, baht, Bangkok, expansion, flights, international, islands, Phuket, Thailand, tourism, tourists
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Monday, March 22nd, 2010
The ten ASEAN countries today launched a new tourism campaign built around the slogan, Southeast Asia: feel the warmth.
A dynamic, new, interactive website, SoutheastAsia.org is being created as the primary marketing tool. The new campaign, officially supported by the 10 Asean tourism
ministers at the Asean Tourism Forum in Brunei today, will immediately target tourists in medium and long haul markets such as the UK, Australia, India, North America and Hong Kong. Southeast Asia: feel the warmth and SoutheastAsia.org will emphasize the warmth of
Southeast Asia’s hospitality and climate and the diversity of the region’s cultural attractions and tourism activities. The ten participating countries are Brunei, Cambodia, Indonesia, Laos,
Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.
Announcing the campaign today, His Excellency Pehin Dato Yahya, Brunei’s Minister of Industry and Primary Resources, told ASEAN Tourism Forum delegates and media that the new campaign had been built on four principles: “First, the fact that ‘Southeast Asia’ has greater recognition in international source markets than ‘ASEAN’. Second, the trust that online consumers now put in meta-search tools and user-generated content. Third, the importance of authenticity and ‘warmth’ in travelers’ decision making processes. And fourth, the tremendous opportunities that Southeast Asia offers to visitors who are interested in exploring niche themes such as culture, adventure, shopping, ecotourism, island holidays, train travel, spa, culinary experiences, river and sea cruises, and much more.”
Southeast Asia: feel the warmth was jointly created by ASEANTA and the ASEAN Competitiveness Enhancement (ACE) office in collaboration with the ten Asean member countries of Southeast Asia. The region’s national tourism organizations played a key role at each stage of the brand and campaign development.
In January 2009, ACE and ASEANTA signed an agreement to work together on a new branding and marketing campaign that would encourage travelers to visit multiple Southeast Asian destinations, stay longer, and spend more money in the region. Since then, ACE has created alliances and agreements across the public and private sectors to build the campaign. For example, for SoutheastAsia.org, Lonely Planet is supplying insights and practical
information on more than 8,000 travel attractions and things to do in Southeast Asia.
The Nation, 25-01-2010
Tags: airline, Asean, Asia, Asia-Pacific, baht, Bangkok, flights, hotel, industry, international, islands, Phuket, Thailand, tourism, tourists
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Monday, March 15th, 2010
A Thai Cabinet resolution, yesterday, approved the extension of most of the tourism stimulus measures that were introduced last year.
The special measures extended until 31 March 2011 include: Visa fee waiver for foreigners from all nationalities; reduction of landing and parking fees; Budgets for government units to hold seminars and meetings up-country; reduction of utility fees for hotels; 200% tax refund for expenses on accommodation and meals linked to company meetings and training sessions in the country; and the US$1 per head tourist insurance scheme will continue cover disruption of travel due to political disturbances until 31 March 2011.
The special measures were first introduced after Bangkok’s airport closure in late November 2008.
Raimond Land
March 2010
Tags: airline, Asean, Asia, Asia-Pacific, baht, Bangkok, flights, hotel, industry, international, islands, Phuket, Thailand, tourism, tourists
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Wednesday, March 3rd, 2010
* Published: 2/03/2010 at 04:07 PM
* Online news: Breakingnews
The cabinet has agreed to continue measures to stimulate the tourism sector for another year, as proposed by the Ministry of Tourism and Sports, deputy government spokesman Watchara Kannika said on Tuesday afternoon.
The assistance was due to terminate at the end of next month.
The measures are;
1) Visa fee exemption for foreign tourists
2) Helping state agencies hold seminars and field trips in the country to boost domestic spending
3) Cutting the electricity consumption guarantee fund for hotel operators
4) Reduced aircraft landing and parking fees
5) Providing free-of-charge riot protection insurance worth US$10,000 for each foreign tourist, and
6) Allowing business operators who organise domestic seminars, training courses and tourist destination trips for employees to deduct the cost for tax purposes.
The cabinet acknowledged the Tourism and Sports Ministry’s expectation that 15.3 to 15.5 million foreign tourists will visit Thailand in 2010.
The ministry also reported that the number of foreign tourists last year was 14.09 million, down 3 per cent on 2008, with a total income of 527 billion baht, down 8 per cent from the previous year.
Tags: airline, Asean, Asia, Asia-Pacific, baht, Bangkok, flights, hotel, industry, international, islands, Phuket, Thailand, tourism, tourists
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Monday, March 1st, 2010
Best Western International has announced the opening of its fourth hotel in the Thai island of Phuket. The 129-room Best Western Allamanda Laguna Phuket is situated on Phuket’s Bang Tao Beach within the stunning environment of the Laguna Phuket integrated resort.
“We are proud to open this fine Best Western property as part of Laguna Phuket, Asia’s finest destination resort complex, renowned for its outstanding facilities and services in a serene setting. With its own distinctive character, this hotel perfectly meets the variety of travelers’ needs whether families or FITs, or for weddings and corporate events”, said Best Western Vice President for International Operations Asia, Glenn de Souza.
The hotel boasts 129 guest rooms and suites, with scenic golf course and/or swimming pool views. The tastefully appointed rooms and suites are perfect for families, couples or golfing getaways. The suites feature a kitchenette area separate from the living and dining areas. All-day dining is available at the Courtyard Café.
Allamanda Beach Club and Marine Center offers a wide selection of activities, such as sailing, canoeing, kayaking and paddle boating, all enjoyed within the ambiance of a perfect, tropical island holiday. As for a place to meet with friends or unwind and reflect on the day’s activities, the Lobby bar provides a great, laid-back setting with genuinely warm Thai hospitality.
Best Western is the world’s largest hotel chain with more than 4,000 hotels in 80 countries and over 150 hotels in Asia including 14 properties in Thailand in the major tourist destinations of Bangkok, Krabi, Samui, Pattaya and Phuket
Tags: Asean, Asia, Asia-Pacific, baht, Best Western, dollar, economy, hotel, hotels, international, market, Phuket, price, Thailand, US, value
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Sunday, January 31st, 2010
General Motors Thailand signed 13.5 billion baht worth of seven-year loans Friday with three local banks to help finance three new plants in Rayong.
Bangkok Bank and Siam Commercial Bank will provide loans of 6 billion baht each to the US auto giant, with another 1.5 billion arranged by Tisco Bank.
General Motors Thailand (GMTH) will use the funds to finance three projects: a plant for its next-generation pickup trucks, a plant to assemble pickup-derived sports utility vehicles (SUV) and a new diesel engine manufacturing plant.
The investment projects will run from 2011 to 2012, with the three facilities located at the company’s 440-rai complex in Rayong.
US parent General Motors will provide $118 million in equity funding to help finance the projects, which have a total cost of 15 billion baht.
Steve Carlisle, the president of GMTH/ASEAN and Chevrolet Sales Thailand, said the proceeds would facilitate further growth of the GM and Chevrolet brands in Thailand and Asean.
The company aims to raise its total market share in car sales in Thailand to 3-4% by the end of 2010 from 2.8-2.9% last year.
Total car sales in 2009 were 530,000 units.
GM hoped to arrange the loans since last year, but local banks balked at offering new financing due to the global financial crisis. GM filed for bankruptcy protection last June after car sales plummeted in the US due to the crisis.
Tags: Asean, Asia, Asia-Pacific, baht, Bangkok, cars, currency, deficiency, dollar, economy, forex, fuel, GM, international, loan, market, Phuket, price, retail, Thailand, US, value, world
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Sunday, January 31st, 2010
The private sector has indicated that political factors are a major drawback for the economy at present, while suggesting the government solve the problem of in order to improve the country’s competitiveness, Thai News Agency (TNA) reports.
Thanit Sorat, vice-chairman of the Federation of Thai Industries (FTI), says that the World Economic Forum’s ranking of Thailand’s competitiveness at 36, down from 34 last year, “reflects a negative future” for the economy.
He said Thailand was facing obstacles in business due to obsolete laws and had been noted by foreign investors for its corruption problems. The government needs to quickly establish solutions to the problem since it was severely “obstructing national development”, he said.
Thanit said the decrease in competitiveness had resulted in a decline in private investment. He said government support under its Strong Thailand scheme was only aimed at injecting funds into the economic system, but was not efficient at stimulating private investment.
Tags: Asia, Asia-Pacific, baht, Bangkok, company, currency, dollar, economy, forex, fuel, international, market, Phuket, price, retail, Thailand, US, value, world
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