$4 for this small plate of cha kway tiao
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A Singaporean's guide to living in Thailand
- Thread starter Leongsam
- Start date
Latest outflows not bode well for SET and THB, speak volumes on how junta's messing about the thai mango 
Foreigners flee Thai stocks
Published: 3/08/2015 at 10:50 AM
Online news: Bangkok Post
Foreign investors are selling Thai stocks at the fastest pace this year as the nation’s military government struggles to deliver on pledges to revive economic growth.
Overseas funds unloaded a net $774 million of Thai shares in July as the benchmark Stock Exchange of Thailand (SET) Index fell 4.3%. The baht is trading near the weakest level in more than six years after slumping 3.4% against the United States dollar last month.
The selloff suggests international money managers are losing patience amid falling exports, weak corporate earnings and a contraction in manufacturing. Prime Minister Prayut Chan-o-cha has failed to make much headway on planned investments in transport infrastructure, disappointing investors who had bet the projects would help kick-start Southeast Asia's second-largest economy.
"We still don’t see any bargains," said Roshan Padamadan, a Singapore-based money manager at Luminance Global Fund. "A dark cloud is hanging over the horizon."
The Ministry of Finance last week cut its forecasts for exports and gross domestic product growth for a third time this year. A factory output index has fallen every month but one since March 2013, while exports have declined each month this year. The government has disbursed less than half the 450 billion baht ($13 billion) earmarked for roads, mass transit and other infrastructure projects in the fiscal year ending Sept 30.
The SET Index dropped 0.4% to 1,434.79 as of 10.22am in Bangkok on Monday, heading for the first decline in three days. The baht fell 0.1%.
Tourism boost
The SET gauge entered a correction in July after dropping 11% from its Feb 13 peak. The measure trades at 13.7 times projected 12-month earnings, or 8.7% more expensive than its five-year average.
Foreign outflows may abate as traders with short-term strategies may have already sold their holdings, said Juckchai Boonyawat, the Bangkok-based chief distribution officer at Manulife Asset Management Co. International investors have sold $1.24 billion of Thai stocks so far this year, following withdrawals of $1.09 billion in 2014 and $6.21 billion in 2013.
"Overseas investors with a long-term strategy are the ones who still hold Thai stocks," Mr Juckchai said. "We expect the government's spending to come into effect from the fourth quarter onward. We are overweighting some construction companies, which will directly benefit from that state spending."
Thailand’s tourism sector is also getting a boost from the baht's 6.4% plunge over the past six months. The SET Tourism & Leisure Index has risen 7.3% this year, compared a 3.8% decline for the benchmark gauge.
Still, lacklustre earnings in the broader market are deterring investors. Profits for SET index companies grew less than 4% in the three months ended June 30, after declining for three straight quarters through March, according to data compiled by Bloomberg.
"Listed companies' earnings growth has been disappointing as a result of the weak economy," said Win Phromphaet, the head of investment at Social Security Office, which overseas about $37 billion as Thailand's largest investor.
Foreigners flee Thai stocks
Published: 3/08/2015 at 10:50 AM
Online news: Bangkok Post
Foreign investors are selling Thai stocks at the fastest pace this year as the nation’s military government struggles to deliver on pledges to revive economic growth.
Overseas funds unloaded a net $774 million of Thai shares in July as the benchmark Stock Exchange of Thailand (SET) Index fell 4.3%. The baht is trading near the weakest level in more than six years after slumping 3.4% against the United States dollar last month.
The selloff suggests international money managers are losing patience amid falling exports, weak corporate earnings and a contraction in manufacturing. Prime Minister Prayut Chan-o-cha has failed to make much headway on planned investments in transport infrastructure, disappointing investors who had bet the projects would help kick-start Southeast Asia's second-largest economy.
"We still don’t see any bargains," said Roshan Padamadan, a Singapore-based money manager at Luminance Global Fund. "A dark cloud is hanging over the horizon."
The Ministry of Finance last week cut its forecasts for exports and gross domestic product growth for a third time this year. A factory output index has fallen every month but one since March 2013, while exports have declined each month this year. The government has disbursed less than half the 450 billion baht ($13 billion) earmarked for roads, mass transit and other infrastructure projects in the fiscal year ending Sept 30.
The SET Index dropped 0.4% to 1,434.79 as of 10.22am in Bangkok on Monday, heading for the first decline in three days. The baht fell 0.1%.
Tourism boost
The SET gauge entered a correction in July after dropping 11% from its Feb 13 peak. The measure trades at 13.7 times projected 12-month earnings, or 8.7% more expensive than its five-year average.
Foreign outflows may abate as traders with short-term strategies may have already sold their holdings, said Juckchai Boonyawat, the Bangkok-based chief distribution officer at Manulife Asset Management Co. International investors have sold $1.24 billion of Thai stocks so far this year, following withdrawals of $1.09 billion in 2014 and $6.21 billion in 2013.
"Overseas investors with a long-term strategy are the ones who still hold Thai stocks," Mr Juckchai said. "We expect the government's spending to come into effect from the fourth quarter onward. We are overweighting some construction companies, which will directly benefit from that state spending."
Thailand’s tourism sector is also getting a boost from the baht's 6.4% plunge over the past six months. The SET Tourism & Leisure Index has risen 7.3% this year, compared a 3.8% decline for the benchmark gauge.
Still, lacklustre earnings in the broader market are deterring investors. Profits for SET index companies grew less than 4% in the three months ended June 30, after declining for three straight quarters through March, according to data compiled by Bloomberg.
"Listed companies' earnings growth has been disappointing as a result of the weak economy," said Win Phromphaet, the head of investment at Social Security Office, which overseas about $37 billion as Thailand's largest investor.
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Lighter side of thai mango. Time's up for short time hotels in Bkk? :p
HOSPITALITY
The writing is on the wall for love motels
Published: 3/08/2015 at 06:28 AM
Newspaper section: Business. Bangkok Post
Love motels are expected to fade out in the next few years, and existing operators should create a new image by offering an atmosphere like that of three- or four-star hotels.
Sarun Limsawaddiwong, the second-generation owner of the popular love motel Peep Inn Ratchada, said short-time motels faced a decline and would probably disappear from central Bangkok in the next five years.
A taxi leaves Peep Inn Ratchada on Thiam Ruam Mit Road. The operator plans to transform the love motel to compete with three- and four-star hotels. THANARAK KHUNTON
Please credit and share this article with others using this link:http://www.bangkokpost.com/business...00/the-writing-is-on-the-wall-for-love-motels. View our policies at http://goo.gl/9HgTd and http://goo.gl/ou6Ip. © Post Publishing PCL. All rights reserved.
The main reason is soaring land prices in the inner city, which have caused love motel owners to sell their places to property developers to build condominium projects.
Some motel operators have moved to the outskirts of Bangkok, where the service charge is 20% lower, with maximum fees running to 400 baht for three hours.
"New operators should think twice before entering this business, as it will take longer for their investment to break even," Mr Sarun said.
Meanwhile, existing motel operators in the inner city have been trying to adjust to the changing situation.
"Clients need something new. Themed decor such as boxing stadiums, army tanks and rainforests are not enough to help love motels survive," he said.
Mr Sarun said the motels should be upgraded to have a similar atmosphere as three- or four-star hotels, highlighting cleanliness and safety for couples.
They should scrap the dark plastic curtains that prevent anybody from seeing a car parked in front of the room, he said.
The Peep Inn Ratchada is now undergoing renovation, with the first 20 rooms to be completed by year-end and a further 40 rooms revamped next year. Sexy bathrooms will be a highlight of the new look.
A major part of the 400-room motel has already been demolished and redeveloped as a three-star hotel called the S Ratchada, targeting Chinese tourists.
The existing 150 rooms will be adjusted and merged into only 60 for a total renovation cost of 60 million baht.
The room rate will increase to 1,000 baht for three hours, up from 500 baht at the present.
Each room should be occupied five times a day instead of only two or three times, Mr Sarun said.
If the target number of customers can be reached, the Peep Inn Ratchada will show the highest profit margin compared with other hotels in its group.
Apart from the Peep Inn Ratchada, Mr Sarun converted the Peep Inn Sukhumvit Soi 33 to the S33 boutique hotel in 2011.
HOSPITALITY
The writing is on the wall for love motels
Published: 3/08/2015 at 06:28 AM
Newspaper section: Business. Bangkok Post
Love motels are expected to fade out in the next few years, and existing operators should create a new image by offering an atmosphere like that of three- or four-star hotels.
Sarun Limsawaddiwong, the second-generation owner of the popular love motel Peep Inn Ratchada, said short-time motels faced a decline and would probably disappear from central Bangkok in the next five years.
A taxi leaves Peep Inn Ratchada on Thiam Ruam Mit Road. The operator plans to transform the love motel to compete with three- and four-star hotels. THANARAK KHUNTON
Please credit and share this article with others using this link:http://www.bangkokpost.com/business...00/the-writing-is-on-the-wall-for-love-motels. View our policies at http://goo.gl/9HgTd and http://goo.gl/ou6Ip. © Post Publishing PCL. All rights reserved.
The main reason is soaring land prices in the inner city, which have caused love motel owners to sell their places to property developers to build condominium projects.
Some motel operators have moved to the outskirts of Bangkok, where the service charge is 20% lower, with maximum fees running to 400 baht for three hours.
"New operators should think twice before entering this business, as it will take longer for their investment to break even," Mr Sarun said.
Meanwhile, existing motel operators in the inner city have been trying to adjust to the changing situation.
"Clients need something new. Themed decor such as boxing stadiums, army tanks and rainforests are not enough to help love motels survive," he said.
Mr Sarun said the motels should be upgraded to have a similar atmosphere as three- or four-star hotels, highlighting cleanliness and safety for couples.
They should scrap the dark plastic curtains that prevent anybody from seeing a car parked in front of the room, he said.
The Peep Inn Ratchada is now undergoing renovation, with the first 20 rooms to be completed by year-end and a further 40 rooms revamped next year. Sexy bathrooms will be a highlight of the new look.
A major part of the 400-room motel has already been demolished and redeveloped as a three-star hotel called the S Ratchada, targeting Chinese tourists.
The existing 150 rooms will be adjusted and merged into only 60 for a total renovation cost of 60 million baht.
The room rate will increase to 1,000 baht for three hours, up from 500 baht at the present.
Each room should be occupied five times a day instead of only two or three times, Mr Sarun said.
If the target number of customers can be reached, the Peep Inn Ratchada will show the highest profit margin compared with other hotels in its group.
Apart from the Peep Inn Ratchada, Mr Sarun converted the Peep Inn Sukhumvit Soi 33 to the S33 boutique hotel in 2011.
Nice burger
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Even then, $26 for a 44 sqm room with breakfast. That's pretty remarkable,.
Lai lelong in LOS, from malls to 7s :p
ECONOMY
Prices fall again to hit confidence
Consumers wary of spending, prospects
Published: 4/08/2015 at 03:28 AM
Newspaper section: Business http://www.bangkokpost.com/business/news/642760/prices-fall-again-to-hit-confidence
The economy remains far from recovery, with consumer prices falling for a seventh straight month in July due mainly to prolonged weak consumption.
The Commerce Ministry reported Monday that consumer prices based on 450 products and services contracted by 1.05% year-on-year last month.
That followed contractions of 1.07% in June, 1.27% in May, 1.04% in April, 0.57% in March, 0.52% in February and 0.41% in January.
Somkiat Triratpan, director of the ministry's Office of Trade Policy and Strategy, attributed the fall mainly to low energy prices and overall weak purchasing power in light of battered consumer confidence on poor economic prospects and the drought.
Convenience stores concerned: Tesco, 7-Eleven sales fall
Exports outlook grim: Shippers see 4.2% decline
On a month-on-month basis, headline inflation fell by 0.07% from June, with non-food items and beverages falling by 0.34%.
Food prices rose by 0.41%, mainly for fresh vegetables as dry, hot weather hurt output.
For the first seven months, headline inflation fell by 0.85% from a year earlier due largely to a decline in non-food items and beverages, which dropped by 1.88%.
Prices of food and non-alcoholic drinks, however, increased by 1.09%, led largely by seasonings, prepared food, fruit and vegetables.
Core inflation, which excludes volatile oil and food prices, managed to edge up last month by 0.94% year-on-year and 0.1% month-on-month.
In the first seven months, core inflation rose by 1.18% year-on-year, still within the central bank's target range of 0.5% to 3%.
The Commerce Ministry has maintained this year's inflation target at between 0.6% and 1.3% but plans to revise the estimate soon due to the slower-than-expected economic recovery, weak baht and low oil prices.
"We insist Thailand has yet to enter actual deflation since people are still spending," Mr Somkiat said.
According to the latest survey by the University of the Thai Chamber of Commerce (UTCC), consumer confidence plunged to a 13-month low in June, dampened by weak economic prospects, tepid exports, low farm prices and the drought.
The consumer confidence index fell for a sixth straight month in June to 74.4 points, down from 75.6 in May, 76.6 in April, 77.7 in March, 79.1 in February, 80.4 in January and 81.1 last December.
The June reading was the lowest since May 2014, when confidence began rising on hopes of an economic rebound after the coup ended months of unrest.
Thailand has fully entered "technical deflation" in which prices of goods and services fall for six months in a row as people spend less, leading manufacturers to cut prices.
Thanavath Phonvichai, the UTCC's vice-president for research, said the continued fall of prices reflected meagre spending power, which might eventually affect investment confidence.
He called on the government to launch a new economic stimulus package.
ECONOMY
Prices fall again to hit confidence
Consumers wary of spending, prospects
Published: 4/08/2015 at 03:28 AM
Newspaper section: Business http://www.bangkokpost.com/business/news/642760/prices-fall-again-to-hit-confidence
The economy remains far from recovery, with consumer prices falling for a seventh straight month in July due mainly to prolonged weak consumption.
The Commerce Ministry reported Monday that consumer prices based on 450 products and services contracted by 1.05% year-on-year last month.
That followed contractions of 1.07% in June, 1.27% in May, 1.04% in April, 0.57% in March, 0.52% in February and 0.41% in January.
Somkiat Triratpan, director of the ministry's Office of Trade Policy and Strategy, attributed the fall mainly to low energy prices and overall weak purchasing power in light of battered consumer confidence on poor economic prospects and the drought.
Convenience stores concerned: Tesco, 7-Eleven sales fall
Exports outlook grim: Shippers see 4.2% decline
On a month-on-month basis, headline inflation fell by 0.07% from June, with non-food items and beverages falling by 0.34%.
Food prices rose by 0.41%, mainly for fresh vegetables as dry, hot weather hurt output.
For the first seven months, headline inflation fell by 0.85% from a year earlier due largely to a decline in non-food items and beverages, which dropped by 1.88%.
Prices of food and non-alcoholic drinks, however, increased by 1.09%, led largely by seasonings, prepared food, fruit and vegetables.
Core inflation, which excludes volatile oil and food prices, managed to edge up last month by 0.94% year-on-year and 0.1% month-on-month.
In the first seven months, core inflation rose by 1.18% year-on-year, still within the central bank's target range of 0.5% to 3%.
The Commerce Ministry has maintained this year's inflation target at between 0.6% and 1.3% but plans to revise the estimate soon due to the slower-than-expected economic recovery, weak baht and low oil prices.
"We insist Thailand has yet to enter actual deflation since people are still spending," Mr Somkiat said.
According to the latest survey by the University of the Thai Chamber of Commerce (UTCC), consumer confidence plunged to a 13-month low in June, dampened by weak economic prospects, tepid exports, low farm prices and the drought.
The consumer confidence index fell for a sixth straight month in June to 74.4 points, down from 75.6 in May, 76.6 in April, 77.7 in March, 79.1 in February, 80.4 in January and 81.1 last December.
The June reading was the lowest since May 2014, when confidence began rising on hopes of an economic rebound after the coup ended months of unrest.
Thailand has fully entered "technical deflation" in which prices of goods and services fall for six months in a row as people spend less, leading manufacturers to cut prices.
Thanavath Phonvichai, the UTCC's vice-president for research, said the continued fall of prices reflected meagre spending power, which might eventually affect investment confidence.
He called on the government to launch a new economic stimulus package.
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Hai kee teochew char kway tiao
Hai kee teochew char kway tiao
Hey, just one look at it, I know this CKT got standard.
Yup not only that the portion is quite huge and it's damn cheap at only $3 there's only 1 size btw and the guy is damn friendly he smiles and greets everyone. Contrast it to the lao pa sat one at $4 with smaller portion and cooked by a tiong.
Yup i was at that place. Telok blangah crescent. Thankfully for me the queue wasn't as long as that. One man show no assistant. He got quite a number of awards.
Think he must be quite old by now
So how long ago was he at margret drive before he shifted?
Yup that's him.
Hedging your bets on condos in Bkk? :p
Foreigners flock to property
Published: 05 Aug 2015 NEWSPAPER SECTION: Business http://property.bangkokpost.com/news/644316/foreigners-flock-to-property
The baht's pullback and discounted prices offered by property developers have attracted more offshore fund flows into Thai residential projects, says the Housing Finance Association.
Higher demand from foreigners in residential projects for investment doesn't show up in data, as most prefer paying cash instead of taking out mortgage loans when buying real estate in Thailand, said president Kitti Patpongpibul.
Demand from local investors is also surging as they park money in real estate to get a better return at a time of economic sluggishness and low interest rates.
The return on property investment of 7% on average is far above deposit rates.
Real demand from home buyers remains strong, reflected in healthy mortgage loan growth in the banking industry of 10% year-on-year to 2.89 trillion baht of loans outstanding at the end of March.
New mortgage loans including refinancing are forecast at 600 billion baht in 2015, up 4.34% from last year.
Despite tighter mortgage loan approvals, the rejection rate for loan products in the overall industry is still low at 20-30%.
Pikul Srimahunt, head of mortgage and small enterprise products at Siam Commercial Bank, said SCB's housing loan rejection rate had risen to 23% from 20% last year.
The bank's rejection rate for salaried employees rose to 17% from 15%, while the rate for self-employed clients rose to 34% from 19%.
SCB, the biggest mortgage lender with loans outstanding of 550 billion baht, expects its loan portfolio to rise to 570 billion by year-end.
The bank aims for 120 billion baht worth of new mortgage loans this year after extending 57 billion in the first half.
SCB's non-performing loan ratio for mortgage loans rose to 2.24% at the end of June from 2.17% at the end of March.
Investment in residential projects is expected to be 960 billion baht, while new mortgage loans are estimated at 640 billion, leaving a 320-billion-baht gap to be paid in cash.
SCB shares closed yesterday on the SET at 153 baht, down one baht, in trade worth 732 million baht.
Foreigners flock to property
Published: 05 Aug 2015 NEWSPAPER SECTION: Business http://property.bangkokpost.com/news/644316/foreigners-flock-to-property
The baht's pullback and discounted prices offered by property developers have attracted more offshore fund flows into Thai residential projects, says the Housing Finance Association.
Higher demand from foreigners in residential projects for investment doesn't show up in data, as most prefer paying cash instead of taking out mortgage loans when buying real estate in Thailand, said president Kitti Patpongpibul.
Demand from local investors is also surging as they park money in real estate to get a better return at a time of economic sluggishness and low interest rates.
The return on property investment of 7% on average is far above deposit rates.
Real demand from home buyers remains strong, reflected in healthy mortgage loan growth in the banking industry of 10% year-on-year to 2.89 trillion baht of loans outstanding at the end of March.
New mortgage loans including refinancing are forecast at 600 billion baht in 2015, up 4.34% from last year.
Despite tighter mortgage loan approvals, the rejection rate for loan products in the overall industry is still low at 20-30%.
Pikul Srimahunt, head of mortgage and small enterprise products at Siam Commercial Bank, said SCB's housing loan rejection rate had risen to 23% from 20% last year.
The bank's rejection rate for salaried employees rose to 17% from 15%, while the rate for self-employed clients rose to 34% from 19%.
SCB, the biggest mortgage lender with loans outstanding of 550 billion baht, expects its loan portfolio to rise to 570 billion by year-end.
The bank aims for 120 billion baht worth of new mortgage loans this year after extending 57 billion in the first half.
SCB's non-performing loan ratio for mortgage loans rose to 2.24% at the end of June from 2.17% at the end of March.
Investment in residential projects is expected to be 960 billion baht, while new mortgage loans are estimated at 640 billion, leaving a 320-billion-baht gap to be paid in cash.
SCB shares closed yesterday on the SET at 153 baht, down one baht, in trade worth 732 million baht.
Sinkie made the headlines in LOS today. Anybody we know? :p
Singaporean had false Thai ID, say police
The Nation August 5, 2015 1:00 am
Police have arrested a Singaporean for illegally obtaining a Thai identification card via a border district office of Uttaradit province.
The card identified the Singaporean as a Thai who is in fact already dead.
Zhang Yao Zhong, 50, is one of 16 suspects Thai authorities have been trying to hunt down for their alleged role in the illegitimate issuance of Thai ID cards.
The suspects include an assistant district officer.
"We are investigating the case further," Ban Khok Police Station superintendent Colonel Pramuan Yimjan said yesterday.
The Singaporean told police he had paid Bt200,000 for the card and received it in 2013.
"Agents approached me saying I could obtain the Thai identification card legally from the Ban Khok District Office in Uttaradit province," Zhang said. He is married to a Thai woman.
He was arrested on July 28 while preparing to cross the border into Myanmar.
Sarawoot Somsri, current assistant district officer of Ban Khok, disclosed yesterday that his district office had found Thai ID cards issued to 11 people who had died in 2013. The discovery prompted it to lodge a complaint with police.
"Four other suspects certified claims to the Thai identification cards," he said.
Singaporean had false Thai ID, say police
The Nation August 5, 2015 1:00 am
Police have arrested a Singaporean for illegally obtaining a Thai identification card via a border district office of Uttaradit province.
The card identified the Singaporean as a Thai who is in fact already dead.
Zhang Yao Zhong, 50, is one of 16 suspects Thai authorities have been trying to hunt down for their alleged role in the illegitimate issuance of Thai ID cards.
The suspects include an assistant district officer.
"We are investigating the case further," Ban Khok Police Station superintendent Colonel Pramuan Yimjan said yesterday.
The Singaporean told police he had paid Bt200,000 for the card and received it in 2013.
"Agents approached me saying I could obtain the Thai identification card legally from the Ban Khok District Office in Uttaradit province," Zhang said. He is married to a Thai woman.
He was arrested on July 28 while preparing to cross the border into Myanmar.
Sarawoot Somsri, current assistant district officer of Ban Khok, disclosed yesterday that his district office had found Thai ID cards issued to 11 people who had died in 2013. The discovery prompted it to lodge a complaint with police.
"Four other suspects certified claims to the Thai identification cards," he said.
I hope the Thais arrest more of these stupid disgraced sinkies.
There are many budget hotels in Pattaya & it is now low season. Depends on what you are looking for.
I usually look for a convenient location that is close to the beach & restaurants. Also particular about the age & condition of the room. The average price that I will be paying right now is about $35 without breakfast. I usually skip breakfast & start the day with lunch.
Wah, you 2 really know how to stretch your bht. Contrast with froggy's high living :p
For thb700/900, the irony: cheaper than transit rates in our tiny red dot!
Went dentist today for annual cleaning and doc comletely removed a cracked filling and refill new. Paid 1,300 baht ($51) for the following items:
1. Service for cleaning
2. X-Ray
3. Hospital general fee
4. doc for filling
1. Service for cleaning
2. X-Ray
3. Hospital general fee
4. doc for filling
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