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A Singaporean's guide to living in Thailand

yinyang

Alfrescian (Inf)
Asset
Sinkie opens new hotel in Chiangmai :biggrin:

IN OCTOBER
S'pore's Manor Group to open chic new hotel in Chiang Mai

SUCHAT SRITAMA
THE NATION August 10, 2015 1:00 am. http://www.nationmultimedia.com/bus...to-open-chic-new-hotel-in-Chian-30266242.html

MANOR GROUP, a design and architecture enterprise based in Singapore, will open a hotel in Chiang Mai in October, aiming to cash in on the growth of tourism there and to pave the way for further investment in Thailand and neighbouring countries.

CNX hotel.jpg

John Lim, founder and chief executive officer, said the group had invested Bt300 million in the hotel in Chiang Mai. This is the first step for Manor Group's foray into the hotel business in Thailand as well as other countries such as Vietnam and Malaysia.

In Thailand, the group already runs a wide range of businesses. It is responsible for Italics Restau-rants, while Manor Studio Thailand Co handles design and architectural projects, and the latest entity, Manor Suite Chiang Mai Co, owns the Akyra Manor Chiang Mai Hotel.

Lim said a Thai hospitality firm, Akaryn Hotel Group, would manage the hotel under its Akyra brand via a 10-year contract with Manor Group. Akaryn also owns and operates the Aleenta resorts in Phuket, Phang-nga and Hua Hin-Pranburi, as well as the Akyra Chura Samui resort. Akaryn Group is gearing up for next year's launch of Akaryn Koh Krabeay, a resort and spa on its own private island in Cambodia.

The Chiang Mai hotel has 23 deluxe suites at 56 square metres and seven larger suites at a spacious 97 sqm. It is located in hip Nimmanhaemin Road, which is known as "coffee street" and is a growing centre of the city's booming art scene.

"Chiang Mai has too many three-star hotels, so we went all the way to do an all-suite five-star hotel, with a courtyard-within-room concept, very generously sized suites and a minimal, contemporary and decidedly urban feel, as that is what the market here was lacking. There is an extreme shortage of high-end hotels there. Occupancy rates are 80-100 per cent at the best hotels," Lim said.

He said the hotel's official launch, originally scheduled for this month, had been pushed back to October because of unforeseen construction delays. Lim said Thailand had great potential in the logistics sector as both the overall population and gross domestic product per capita are moving upwards.

Known for its abundant natural resources and strong manufacturing sectors, Thailand has always been an export-strong country. However, as per capita GDP increases and as the country moves towards becoming a developed country, new trends are created and modernisation takes place, so its imports are also moving up quickly, he believes.

The growth of cities outside Bangkok and the connectivity linking them are also contributing to the growth of logistics demand. Cities such as Hua Hin and Chiang Mai are good examples of such cities. The high-speed rail links that will eventually be built will also provide more connectivity.

For hospitality, tourism, food and beverages, Thailand is one of Southeast Asia's major travel destinations. The core of any hospitality industry is the people involved in it, and Thailand never fails to reflect the inherent service mentality of its culture, Manor Group believes.

When looking at travel blogs and sites, the quality of service at a wide array of hotels and restaurants can vary. High-end hotels and restaurants are relatively consistent and well received by many, though it's also a fact that quality of service at the middle to lower end has received mixed reviews, the group has noted.
 

Froggy

Alfrescian (InfP) + Mod
Moderator
Generous Asset
Getting ready for endoscopy and colonoscopy

Finally all's well. Doc said not a single polyp so check again after another 5 years





the gastritis is very minor nothing need to be done
 
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yinyang

Alfrescian (Inf)
Asset
Less optimism by foreign investors over next quarter

Investors pessimistic about market outlook
Confidence survey reaches bearish level


Published: 11/08/2015 at 07:48 AM. Bangkok Post
Newspaper section: Business

Investors expect the capital market will decline to bearish levels over the next three months in line with poor sentiment in the economy.

The latest investment sentiment survey for the three months ending Oct 31 is at 57.27 points, a 41.7% fall from last month's level of 98.28 points.

The Federation of Thai Capital Market Organizations (Fetco) has coordinated with National Institute of Development Administration to conduct monthly surveys of investor confidence.

A level of 41-80 points is seen as bearish, while falling below 40 would be extremely bearish, with 81-120 neutral and 121-200 bullish.

Fetco president Kanate Wangpaichitr said investor confidence had fallen into bearish territory for the second time in 12 months.

"The survey found all types of investors shared the same pessimistic outlook," he said.

Mr Kanate said confidence of the proprietary trading group had plunged to an extremely bearish level of 28.57 points.

He said investors lacked confidence due to the economy, falling exports, rising household debt, fund outflows, slow government spending, delays to infrastructure projects, a possible cabinet reshuffle and the drought.

External factors are also putting pressure on the Thai market.

Amornthep Chawla, head of research at CIMB Thai Bank, said the economy was expected to grow by 2-3% this year, with the worst case at 2.3% if the government postponed infrastructure projects. Exports are expected to contract by 4%.

Private investment remains relatively low as investors wait for government projects. Only the tourism sector is expected to see strong growth in the second half. The baht could decline to as low as 36 baht to the US dollar if the US Federal Reserve raises its interest rate.

"CIMB expects the Bank of Thailand will maintain its policy interest rate at 1.5% throughout the year," Mr Amornthep said.

Fetco chairwoman Voravan Tarapoom said the SET index would move sideways for the rest of this year on the back of domestic uncertainty.

"Infrastructure projects can help to improve sentiment in the short term, but in the long term the government should focus on sustainability and invest in human resources, research and development and funds for SME development," she said.
 

Froggy

Alfrescian (InfP) + Mod
Moderator
Generous Asset
Those curious and interested to know the cost of colonoscopy & endoscopy in Thailand here's the detail.

Note that this is done in probably the top hospital in Thailand so prices in other similarly reputable hospital will likely not be higher than this. Do factor in a pre-test visit with medication for purging the bowel that'll likely setback not more than 2,000 baht.



 
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Leongsam

High Order Twit / Low SES subject
Admin
Asset
Those curious and interested to know the cost of colonoscopy & endoscopy in Thailand here's the detail.

Note that this is done in probably the top hospital in Thailand so prices in other similarly reputable hospital will likely not be higher than this. Do factor in a pre-test visit with medication for purging the bowel that'll likely setback not more than 2,000 baht.

About NZD3000 for a similar procedure in Auckland. Had mine done 5 years ago. Time for another visit.
 

yinyang

Alfrescian (Inf)
Asset
Effects on bht slide (from yesterday's yuan devaluation) :p

Exports could take a hit

THE NATION August 12, 2015 1:00 am

2-PER-CENT DEVALUATION OF CHINESE YUAN TIPPED TO HURT THAI EXPORTERS

money.jpg

THAI EXPORTERS' competitiveness will take a hit if China continues its weak currency policy, following yesterday's surprise 2 per cent devaluation of the yuan.

Kobsidthi Silpachai, head of Market and Economic Research at Kasikornbank, said China's devaluation is understood to be a policy tool to shore up its sagging economy after Beijing earlier implemented drastic measures to deal with bubbles in its stock markets.

Beijing also needs to stabilise its currency in order to make the yuan an official reserve currency - as determined by the International Monetary Fund - on par with the US dollar, euro, the Japanese yen and the British pound.

He said China had lost some competitiveness because its currency has appreciated after it kept the yuan broadly stable against the dollar since March in a move to be the additional official reserve unit.

Vichai Assarasakorn, vice chairman to Thai Chamber of Commerce, said Thai traders, especially those who do business with China, need to closely monitor the currency movement as it could affect Thai exports to China.

Poj Aramwattananont, president to the Thai Frozen Foods Association, said the yuan devaluation was mainly aimed at adjsuting the Chinese unit to balance with regional currencies which have dropped against the US dollar in recent months.

However, if the weak yuan policy is sustained, it would affect Thailand's export competitiveness as Chinese goods would be comparatively cheaper than Thai |products as the countries have similar exports.

Vichai said the Thai government should focus more on investment stimulation as exports this year will inevitably decline by about 4 per cent.

Measures to spur the domestic economy needed to drive investment, which should focus on public private partnerships as the private sector has efficiency and transparency.

Chantavarn Sucharitakul, the Bank of Thailand (BOT)'s assistant governor of its Financial Markets Operations Group, said the move by the People's Bank of China was part of the Chinese government's financial reform effort to gradually make the currency more flexible.

"The depreciation of the yuan will have a short-term impact on market sentiment but the impact in the long-term will have to be assessed," she said.

"The increased flexibility should be positive for China's economic reform efforts and the depreciation of the currency should better support China's economy and that could beneficial for trade activities in the region," she added.

China is currently Thailand's biggest trading partner accounting for 14.8 per cent of Thailand's total trading value in the first five months of 2015, while 1 per cent of the product and service transactions between the two countries are done in yuan.

Usara Wilaipich, a senior economist at Standard Chartered Bank, agreed that the yuan devaluation could have only a short-term impact on Asian currencies since the People's Bank of China (PBOC) told the market its devaluation is a one-time adjustment.

The economist noted that the baht had depreciated due to the likelihood of a US Fed rate hike and stronger US dollar.

StandChart expected the baht's value against the US dollar to be Bt34.50 by the end of this year.

Tim Leelahaphan, an economist with Maybank Kim Eng Securities (Thailand), said the weaker yuan would affect Thai exports, as shipments to China would be hit due to higher prices, while Chinese exports would be more competitive in the global market.

Thai exports similar to China's

"China and Thailand are both emerging markets with similar products so the depreciation means that Thailand's export of products that are similar to China, especially in the export of agriculture products, will suffer," he said.

"The baht is weakening from the strengthening of the US dollar but China uses a fixed exchange-rate policy while Thailand's is a managed float exchange-rate policy," he said.

The baht was trading at Bt35.344 per US dollar yesterday afternoon while the yuan dropped from 6.1162 per US dollar on Monday to 6.3273 per US dollar yesterday.

Maybank expects the baht to trade around Bt35.5 per US dollar by the end of the third quarter.

But it sees the currency trading near Bt36 in the short term before strengthening to Bt35 per US dollar by the end of the year, as the Thai economy is expected to pick up by then.

Tourism and Sports Minister Kobkarn Wattanavrangkul said there was currently no impact on the tourism industry. But she noted that the stronger US dollar had benefitted Thailand.

"The tourism sector is not counting on the exchange rate for growth as exchange rates can always fluctuate, so we would rather concentrate on creating and finding new market channels for the industry through promotions," she said.

"We also expected more Middle Eastern visitors due to the end of the Ramadan season," she added.

Nopporn Thepsithar, chairman to the Thai National Shippers Council, said the weaker yuan should be fine in the long run if the Chinese economy is stronger and has more demand for Thai imports.

But a weaker Chinese unit would |hit Thai competitiveness, especially |shipments of similar items to Asean markets.
 

yinyang

Alfrescian (Inf)
Asset
Positive lining in economy: tourism :biggrin:

Arrivals likely to exceed 28.8m target
Published: 12/08/2015 at 02:17 PM http://www.bangkokpost.com/news/general/653148/arrivals-likely-to-exceed-28-8m-target

LOS china.jpg

The number of foreign visitors to Thailand in 2015 will exceed the target of 28.8 million after the country welcomed 17.5 million visitors in the first seven months of the year, according to the government.

Deputy government spokesman Sansern Kaewkamnerd said the 17.5 million visitors brought in 814.44 billion baht in tourism revenue from January to July this year.

For 2015, the government predicted arrivals of 29-30 million and revenue of 1.6-1.8 trillion baht, higher than the 1.4 trillion baht projected earlier.

In July, Thailand welcomed 2,641,998 foreign tourists, up 49.37% year-on-year, with Chinese and Malaysian visitors topping the nationality list.

Maj Gen Sansern said the government expected up to 900,000 Chinese visitors to Thailand in early October, the long national holiday of the mainland, up from the monthly average of 500,000 to 600,000 visitors.

As the US economy is recovering, the government expected to also welcome 1.2 million Americans in 2015, up from around 700,000 a year.

He pointed out the weaker baht was a stimulus attracting more foreign tourists to Thailand.

At home, Maj Gen Sansern said domestic travelling in the first seven months of this year consisted of 139 million trips, which translated into spending of around 400 billion baht, or half the target.

He urged Thai people to make more domestic trips and take advantage of the government’s tax break on hotel expenses or package tours of up to 15,000 baht.

Central and local government agencies should also organise seminars or field trips to promote domestic tourism and stimulate the economy, he said.
 
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