Erich Parpart, Suchat Sritama, Sucheera Pinijparakarn The Nation September 30, 2014 1:00 am

Thai banks and businesses with branches and offices in Hong Kong, which is one of China's special administrative regions, are preparing contingency plans, as pro-democracy protesters have paralysed parts of the city.

Stocks went down yesterday amid investor worries over the Hong Kong chaos.

Vallop Vitanakorn, vice chairman of the Federation Thai Industries (FTI), said further escalation of violence in Hong Kong could affect the Thai export industries if the situation starts to hamper shipments. This could slow down the delivery of goods to third-party companies on the other side of the world.

He said that if the temporary suspension of operations of 29 commercial bank branches in Hong Kong prolongs, it could pose a difficulty for financial transactions between Thai exporters and counterparts in Hong Kong. The logistical process in the city could also be affected if port workers join the protest, which could lead to a possible postponement of deliveries.

The operation of Thai export firms with offices in Hong Kong could also be affected by a slowdown in quality control processes due to a shortage of workers if the tensions escalate to port areas, he added.

"Any shipments from Thailand to third countries, such as the United States, European countries, and the Middle East would be delayed if the protest starts to affect Hong Kong's logistic sector. Some shipments from Thailand to those countries have to pass through and offload from a smaller freighter through to a bigger cargo ship in Hong Kong," he said.

Stock Exchange of Thailand's index yesterday fell 14.37 points, or 0.9 per cent, in line with the region as investors worry about the chaos in Hong Kong, while the investors resumed profit taking ahead of "trigger" funds due to mature soon.

The index closed at 1,585.79 points with total trade volumes of Bt60.92 billion.

Foreign investors showed net sells of Bt1.746 billion, while securities accounts also recorded net sells, of Bt1.878 billion. But local investors showed net buys of Bt3.58 billion.

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Fear of impact on exports

Sanam-Myneni in mens doubles Asiad tennis final

Thailand News.Net - Sunday 28th September, 2014

A brilliant performance by Indian pair Sanam Singh and Saketh Myneni helped them overcome top seeded Thai team of Sanchai and Sonchat Ratiwatana to reach the men's doubles final of the 17th Asian ...

Thailand News.Net - Monday 29th September, 2014

The Thai government is set to unveil a robotic taster that will determine if the food you have ordered anywhere in the world at a Thai restaurant is genuine or not. The "e-delicious" machine scans ...

RTT News - Monday 29th September, 2014

Thailand's foreign trade balance unexpectedly showed a surplus in August, after registering a deficit in the previous month, figures from the Ministry of Commerce showed Monday. The trade ...

The Nation - Monday 29th September, 2014

Designated entertainment and activity areas and a special management team will be implemented on Koh Tao, Tourism and Sports Minister Kobkarn Wattanavrangkul said ...

merinews - Monday 29th September, 2014

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Thailand- Vietnam tourism Seven airlines are operating 119 flights per week

The rising numbers of middle-income people and the Trans-Pacific Partnership (TPP) agreement, a hoped-for magnet for foreign direct investment and export driver, will provide opportunities for Bangkok Bank's operations in Vietnam, the bank believes.

Tharabodee Serng-Adichaiwit, senior vice president and general manager of Bangkok Bank's Vietnamese operations, expects its lending there to see double-digit growth from rising FDI, stabilisation of the local currency and higher incomes.

The bank has two branches in Vietnam, one in Hanoi and the other in Ho Chi Minh City.

Vietnam has spent the past year getting its economy moving, battling inflation and stabilising its currency. Gross domestic product is expected to expand by 5-6 per cent this year thanks to export growth of 20-30 per cent, he said.

Vietnamese exports are valued at US$13 billion (Bt420 billion) a month, compared with Thailand's $18 billion to $19 billion, and Vietnam could overtake Thailand in four or five years, he said.

Low wages and a large number of working-age people have attracted foreign investors to set up operational bases in Vietnam for export.

"We still see the [political] problems with China as a key risk to Vietnam's economic growth. However, Vietnam will be stronger, as its GDP next year is projected to grow by 6-7 per cent, up from the 5-6 per cent expected this year," he said.

In the first eight months of this year, new loans by Bangkok Bank in Vietnam expanded by 10 per cent, which almost of the growth have to book at BBL's offshore branches because Vietnam's central bank instructed banks to limit foreign currency loans as part of its efforts to control inflation.

The limited foreign currency caused the lending in banking system in Vietnam grew only 4 per cent far from the government target at of 12-13 per cent.

Tharabodee said the TPP, if agreed, would help strengthen the Vietnamese economy in the long run, especially exports of garments and textile products, as Vietnam benefits from trade with the other 11 countries participating in the TPP negotiations.

Continued here:
Bangkok Bank hopes rising FDI, higher incomes will help Vietnam operations

The Ministry of Natural Resources and Environment has urged HCM City to reduce the use of plastic bags to protect the environment. Though much research has been done on non-plastic bags and many businesses have managed to produce environmentally-friendly bags, the use of plastic bags in the city is yet to reduce. According to the HCM City Environment Protection Fund, supermarkets and traditional markets in HCM City consume around 9 million plastic bags a day equivalent to 50-70 tons. Ngo Nguyen Ngoc Anh, the fund's deputy director, said it was because of the low price of plastic bags, which cost only VND30,000 ($1.4) per kilogram. Though the use of the bags has been taxed since 2012 at VND44,000 per kilogram as part of the Government's efforts to raise environmental awareness and reduce their use by 40% by 2015, the situation has not improved since many businesses evade payment. Makers of environmentally-friendly bags say evasion of the tax is not penalized strictly enough and so there is no great incentive to stop producing plastic bags. Only 17 companies in the country, 11 of them in HCM City, make environmentally-friendly bags that are bio-degradable and contain approved levels of synthetic materials. And they do not have a large market. Le Sanh My of Vafaco, a joint-stock packaging company based in HCM City, said the company now only sold environmentally-friendly bags to major supermarkets like Co.op Mart and not traditional markets because the product could not compete with cheap plastic bags. Che Van Khanh of Nam Thai Son Import-Export Join-Stock Company, said the price of such bags cannot be cut further because they have to be shipped to Indonesia for testing at a cost of more than $2,000 per sample. Pham Hoang Thuy Nguyen of the Binh Thanh District Department of Natural Resources and Environment, said a pilot project to use the bags at the district's Ba Chieu market showed that besides the price issue, non-plastic bags also have other shortcomings like limited designs, sizes, and varieties. Besides, information about the importance of environmentally-friendly bags is not disseminated sufficiently, especially about how to distinguish between them and plastic bags. As part of a plan approved by Prime Minister Nguyen Tan Dung, by 2020 the use of plastic bags will be reduced by 60% compared to 2010 at supermarkets and trade centers and by 50% at traditional markets. The plan targets collecting and recycling 50% of the plastic bags discarded. The ministry has been tasked with implementing the plan in collaboration with other ministries, industries, and local governments. (Vietnam News Sept 11)

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Ho Chi Minh City Attempts to Cut Use of Plastic Bags

The first plant - to be constructed in Hanoi - will be for the manufacture of plastic containers for beverage products, Sanan Angubolkul, chairman and president of the listed company, said yesterday.

The facility will cost between Bt250 million and Bt300 million and be located on a plot of more than 10 rai (1.6 hectares). Production is scheduled to commence at the end of next year.

The second factory will be for the production of melamine ware in Ho Chi Minh City.

For this facility, the company will find a new location to eventually replace its existing factory in the Vietnamese capital, as it is currently limited by the relatively small capacity of the plant, he said.

The new factory will require an outlay of about Bt200 million, with construction expected to be completed by the end of 2016.

"The new melamine factory in Ho Chi Minh City will have three times the manufacturing capacity of the existing one, which will continue to be run until the leasing contract expires in four years' time," he added.

Sanan said that about Bt50 million of the Bt1-billion investment budget would be allocated for the installation of 30 new machines at Srithai Superware's factory in India, while Bt450 million would be spent on the upgrade of its machinery and moulding facilities in Thailand.

Meanwhile, the company has slashed its overall sales target for this year from Bt15 billion to about Bt14 billion, due to the slowdown of the domestic economy. However, the revision will not affect the company's net profit, he stressed, adding that gross earnings this year and next will be similar - at 19-20 per cent of revenue.

"In 2015, we target 12-per-cent growth, driven positively by an increase in domestic and overseas sales. The contribution ratio between domestic and foreign sales is now 74:26.This includes the new plastic injection factory in India, which will complete construction next year and realise revenue at the end of 2015," said Sanan.

The company is also looking for a financial adviser to handle the listing of its subsidiary, Srithai Superware Vietnam, on the Stock Exchange of Thailand.

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Srithai Superware raises investment budget to Bt1 bn, budgets Bt500m for 2 plants in Vietnam

CHARLOTTETOWN September is Arthritis Awareness Month and the Arthritis Society has several free presentations scheduled around the province for the month.

The presentations begin with a public forum on Taoist Thai Chi in Charlottetown on Tuesday, Sept. 9, at Murphys Community Centre (third floor). The forum begins at 7 p.m.

There are four other public forums during the month. On Sept. 11, Taoist Thai Chi moves to Summerside at the Wilmot Community Centre, beginning at 10:30 a.m.

On Sept. 17, there will be a Chair Yoga demonstration in Souris at Fortune Bridge Yoga Studio at 6 p.m. Chair Yoga then shifts to Georgetown on Sept. 29 at Christine Lewis Yoga Studio, also at 6 p.m.

Three arthritis information sessions are also planned for the month, beginning with an Exercise Control over Arthritis session on Sept. 10 in Kensington. The presentation takes place at 2 p.m. in the Kensington Library.

Gardening and Arthritis is scheduled for Sept. 16 in Stratford at the Stratford Town Hall, beginning at 2 p.m.

On Sept. 24, an Understanding Arthritis: Tips, Tricks, and Tools for Protecting Your Joints presentation will be held at the Confederation Library in Charlottetown at 7 p.m.

These presentations are all one hour in length.

Rounding out the months schedule is a pair of Chronic Pain Management Workshops on Sept. 16 at the French Creek Lodge in Montague from 9 to 11 a.m., and on Sept. 24 at the Sobeys Community Room in Stratford from 6 to 8 p.m.

These programs are designed to offer a variety of new experiences for those living with arthritis, said Briana Hagen, community development co-ordinator for the Arthritis Societys Prince Edward Island division. There is a significant focus on low-impact exercise, which can increase mobility and flexibility. We hope attendees leave the sessions with the knowledge and techniques they require to live healthier, more active lifestyles.

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Free presentations planned for Arthritis Awareness Month

Speaking at a business meeting held by VCCI, the Thai Consulate and the Thai Trade Centre in Ho Chi Minh City, Tuan said that bilateral trade had grown rapidly in the past few years, reaching nearly $9.5 billion (about Bt300 billion) last year.

For the first half of this year, bilateral trade was $5 billion, with Thailand enjoying a trade surplus, he added.

The meeting was attended by a delegation from 20 Thai companies who were in Vietnam to seek business opportunities. The Thai enterprises specialise in producing health food, yarn, fabrics, clothes, and sea and inland transport vehicles.

Many of the Thai companies want to set up joint ventures with Vietnamese companies or are looking for importers.

Thaiwahknit Wear Co, which specialises in making sportswear, women's blouses, functional fabric and accessories, golf wear and bike wear, for instance, is seeking importers and distributors to expand business in Vietnam.

Malinee Harnboonsong, commercial counsellor of the Thai Consulate and director of the Thai Trade Centre in Ho Chi Minh City, said many Thai businesses wanted to develop long-term cooperation with Vietnamese partners.

Tuan said Vietnam was currently Thailand's second-largest trading partner in the Asean region. However, bilateral trade was still low compared with the potential of the two countries.

Vietnam's trade deficit with Thailand remains high. He also called on business communities to make more effort to increase bilateral trade.

Vietnam imports plastic materials, automotive and motorbike spare parts, household electrical products, fuel, chemicals, and fabrics from Thailand. It exports telephones, crude oil, steel, seafood and computers to Thailand.

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Thai firms seeking new opportunities in Vietnam

Kobsak Pootrakool, executive vice president of Bangkok Bank, told a "Thailand Focus" seminar yesterday that Thai companies should realise the obvious business opportunities in CLMV countries resulting from their strong economic growth. The four countries also show growing demand for consumer products, services, and investment in infrastructure, and the time to get in the game is now.

The seminar was arranged by the Stock Exchange of Thailand, Phatra Securities and Bank of America Merrill Lynch.

"There are many opportunities in the CLMV region, and someone told me that if you go into these countries and you do not smell opportunities, you are not a businessman. When the average economic growth rate of these countries is around 7-8 per cent, that means incomes are also rising," Kobsak said.

Tanawong Areeratchakul, vice president of Siam Cement, said CLMV was appealing in terms of its labour force, with more than 40 million young and energetic workers. These four countries have opened up for business, accompanied by supportive government policies along with the geographical advantage of being situated near fast-growing economies like China and India. These factors make CLMV's future brighter than ever.

Kobsak noted that 20 per cent of Thailand's exports went to CLMV countries. Home construction is on the rise, which means there are business opportunities that range from infrastructure such as seaports and roads, to the energy sector, to real estate, banking, shopping malls, cinemas, and the food and beauty industries.

He said that if Thai companies did not grab these opportunities now, five years from now would be too late. There is growing competition from companies in other Asian economies such as China, which has been investing in CLMV for years, while firms from Japan and South Korea are also eyeing this region.

Tanawong said Chinese businesses had the advantage of government support, which made it easier for them to do business, so the Thai government should also set up system that could be used to assist Thai investors.

Kobsak said that while many Thai companies were going out on their own, he believed that the Board of Investment could easily take on this supportive role and set up an agency to provide information for companies seeking to expand into other countries.

Meanwhile the SET, which hosted a second meeting with four other stock exchanges in the Greater Mekong Subregion - from Cambodia, Hanoi, Ho Chi Minh City and Laos - said yesterday that the Thai bourse continued to tighten collaboration with the GMS exchanges. It had created an information centre on the SET website, and there was talk of possible dual or cross-listings among the exchanges in the future.

The chief executive officers of the Hanoi and Ho Chi Minh bourses, Tran Van Dzung and Phan Thi Tuong Tam, have also confirmed that the two stock exchanges could soon be merging, as the Vietnamese government is considering the option. It could take place as soon as next year.

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'Act fast before competing nations grab opportunities in CLMV'