A Singaporean's guide to living in Thailand

[yinyang]

[h=2]The Cabinet yesterday approved the Finance Ministry's five proposals to boost business sentiment, accelerate the government's venture-capital scheme, help low-income earners buy their first home and rev up the economy in the near term.[/h]

"These measures should benefit businesses and the economy," said Somkid Jatusripitak, the deputy prime minister in charge of economic affairs.

Real estate is a huge industry with a high multiplier effect on the economy through many other business activities, he said.

"We introduced such measures back in 1997 [during the Asian financial crisis]. The measures back then involved a tax measure that was specifically for one business, but the recently introduced measures only involve the demand side and the low-income home-buyer by helping to lower their financial burden in terms of transfer and mortgage fees."

Finance Minister Apisak Tantivorawong said reducing the transfer and mortgage fees to 0.01 per cent for six months would cost the government about Bt15 billion in lost tax revenue. However, the government would gain that back when the measures start to spur economic activities.

Before the Cabinet's approval, housing transfer and mortgage fees were 2 per cent and 1 per cent of appraised value.

The Bt10-billion budget for the Government Savings Bank to provide housing loans to low-income earners is estimated to help some 9,000 households whose loan applications had been turned down.

The conditions imposed for the loans will be decided by the GSB, he said.

Greater Bangkok has homes for sale worth Bt120 billion that could benefit this quarter from the stimulus package, especially the lowered fees. About Bt80 billion of the total is condominium units and Bt40 billion is detached houses and townhouses.

Homes priced at Bt3 million and lower, which make up 10 per cent of the total stock worth Bt120 billion that is ready to be transferred to buyers, will also benefit from the financial package from the Government Housing Bank, the Finance Ministry believes.

"The measure will speed up the transfer of the residences and also promote more spending by home buyers on furniture, home appliances and home decorations," said Prasert Taedullayasatit, president of the Thai Condominium Association.

Suphin Mechuchep, managing director of Jones Lang LaSalle, said the short-term measure would incentivise home-buyers to rush the home-transfer process.

"Residential projects whose construction will not be completed in a six-month time frame will not benefit from the stimulus measure as units in these projects will not be ready for transfer before the measure expires," she said.

Pikul Srimahunt, head of mortgage and small enterprise products at Siam Commercial Bank, said the bank predicted that Bt500 billion worth of housing projects would be transferred in the next six months, as the reduction of fees would help release supply in the market, especially condominiums.

New loan bookings by commercial banks have a high chance to see 10-per-cent growth thanks to these measures, she said. In this quarter alone, new home loans must reach Bt10 billion to show 10-per-cent growth, after the first nine months logged Bt80 billion of new loans.

Onanong Udomkantong, executive vice president of CIMB Thai Bank, said a home-buyer used to face an expense of Bt40,000 in transfer and mortgage fees from buying a residence worth Bt2 million. However, with the new fees, that expense will be only Bt400. This will help speed the transfer of housing projects to customers as well as boost mortgage lending.

"In the fourth quarter, we believe loans will expand by more than 30 per cent from normal growth.

"At CIMB Thai Bank, we expect new home loan bookings are bale bound to reach Bt1.2 billion from Bt1 billion per month," she said. Somkid said the measure to make permanent the temporary decrease of the corporate income tax from 23 per cent to 20 per cent was meant to relieve the uncertainty surrounding its extension. The temporary measure was due to expire at the end of this year.

"The 20-per-cent rate is competitive even though it is slightly higher than some countries in the region.

"The measure should be able to boost confidence that the rate will no longer be changed," he said.

Anuwat Luengtawekul, chief financial officer of Thanachart Bank, said setting the corporate income tax rate at 20 per cent permanently would help Thai corporations compete with neighbouring countries.

The state venture-capital fund is "the heart" of the effort to increase the number of new small and medium enterprises and start-ups.

The 10-year scheme is needed to support SME development, which will help with economic expansion in the long term, it is hoped.

"Tax barriers are one of the main reasons [holding back] start-ups in this country, so we have to [deal with this] first before we can assess its success or failure or what can be done to provide further support," Somkid said.

"In the future I want to see a corporate venture capital fund similar to the successful programmes that are being done extensively in Singapore."

Apisak said: "We give them [venture-capital funds] a 10-year tax break because SMEs and start-ups need time to build up their businesses before they can contribute and compete."

 

[Froggy]

Fried kwayteow with chicken breakfast now

 

[yinyang]

ECONOMY

Economic slump could last 5 years
Former BoT chairman sounds downbeat note

• Bangkok Post Published: 15/10/2015 at 03:26 AM

Virabongsa Ramangkura, former chairman of the Bank of Thailand, predicts the economy will remain in the doldrums until 2020. (Bloomberg photo)

It could take at least five years for the Thai economy to get through the current vicious cycle, says former central bank chairman Virabongsa Ramangkura.

He said pessimism had scaled back hopes of a full rebound next year, with the Thai economy expected to make a U-shaped upturn.

"If it's a cycle, a slowdown period will take five years and a growth period will last five years," said Mr Virabongsa, also a former finance minister.
"During the slowdown duration, illusions that the economy is picking up emerge sometimes, but it grows a little bit before turning down again."

Dismal exports, low inflation and a slump in goods prices have taken a toll on the country's economy, and the current conditions could cause a shortfall in the Finance Ministry's revenue target.

The Asian Development Bank has painted a gloomier picture for next year, cutting its growth forecast to 2% from an earlier 4% -- well below the Bank of Thailand's 2016 forecast of 3.7%.

Mr Virabongsa applauded Deputy Prime Minister Somkid Jatusripitak's economic stimulus measures as the right approach for coping with the economic situation but cautioned the stimulus effects could be short-lived. Mr Somkid's policy focuses on two issues: public spending to stimulate the economy and tax cuts.

Charl Kengchon, managing director of Kasikorn Research Center, said too many variables would determine whether the economic recovery takes five years. But he noted similar concerns had been raised by economists about the country's competitiveness and structural problems.

The latest economic team has been attempting to address short-run issues through stimulus measures while at the same time upgrading Thailand's competitiveness in the middle and long terms through policies related to industrial clusters and logistics.
But it will take time for private-sector investment to stream into the planned clusters, as potential investors have questions about infrastructure, human resources and development, Mr Charl said.

Other countries in Asean have been experiencing their own economic problems, and China's slowdown has taken a toll on regional economies.
Thailand's annual economic outlook of below-4% growth is a less-than-ideal "new normal" since public and private debt will not diminish if the country's growth ratio is too low, Mr Charl said, adding that the US Federal Reserve's looming rate hike could also lessen financial liquidity in Thailand.

He said Thailand's economy had already bottomed out and a U-shaped recovery was expected, but China's woes and the Fed hike were external downside risks.

According to TMB Analytics, Thailand's economic momentum will gain steam in the fourth quarter, propelled by public expenditure and fiscal disbursement, while next year's growth impetus will be jump-started by government infrastructure spending.

Benjarong Suwankiri, a TMB Bank senior vice-president and the head of TMB Analytics, said GDP in the fourth quarter could expand by 2.8% year-on-year and 1% quarter-on-quarter on the strength of the government's new stimulus measures, public spending and seasonal activity in the tourism industry.

"It [the final quarter's economic growth] could be a turning point in setting the tone for next year's economy," he said.
The government's stimulus measures, which assist rural residents battered by low farm prices and provide soft loans to small and medium-sized enterprises, are projected to boost GDP by 0.3 percentage points this year and have a carry-on effect for next year, Mr Benjarong said.
He said the recent property stimulus would mainly make an impact on the housing sector, with overall effects to the economy unlikely due to an oversupply in the property segment.

TMB Analytics forecasts Thai economic growth of 2.7% this year, down from 3% projected earlier, with a 5.5% contraction in exports.
Thai shipments could decline further in the September-November period due to China's weak trade data and domestic consumption, Mr Benjarong said.

TMB Analytics expects the Thai economy to expand by 3.5% next year, driven mainly by infrastructure investment, stimulus measures, tourism expansion and knock-on effects for private investment from increased public spending.

 

[Froggy]

Considered one of the most popular photo spots in bangkok

 

[Froggy]

Comfy breakfast at Suvarnabhimbi TG lounge - chicken porridge

 

[Narong Wongwan]

Considered one of the most popular photo spots in bangkok

This one beats the changi airport cheapo looking trishaw backdrop hands down

 

[yinyang]

Graphical dig at persecution

 

[yinyang]

Thoughtful slice of thai mango, with this introspective editorial piece on Chula grad unashamed with his garbage collector dad.

A lesson in values from the garbage man and his son

http://www.nationmultimedia.com/opi...from-the-garbage-man-and-his-so-30270542.html

I was among the many people who were delighted by a photo circulating on the social media of a freshly graduated Chulalongkorn University student lying prostrate at the feet of his dad, the driver of a garbage truck. But as soon as I'd shared the photo with friends, I had second thoughts. It seems to me that the media and the public should be thinking differently about that photo - and about Thai society.

The garbage truck in the picture gave it that "wow" factor. People's main reaction was to ask what the odds are of a municipal trash collector being able to afford to send his son to a fine university. But think about it: Why would it be against the odds? It's a strange misperception that's all too common in our society.

It's nice that folks expressed admiration for the hard-working father, but surely all parents of college graduates deserve admiration too. And why were people praising the son for not being "ashamed" about his dad's profession?

We all need to give our heads a shake. Because we live in a society with some pretty twisted values.

We abide by social norms that largely go unspoken but, as usual, actions that speak louder than words. We automatically show respect for and defer to the wealthy and the powerful.

They've laid claim to the symbols of success. And yet goodness and purity of heart seem of little interest to the majority of Thais. With such cock-eyed values, it's no wonder that everyone's in a rush to make money and leap up the career ladder, no matter how frequently they have to stoop low before the high and mighty. They want what's perceived as "success" because they know they'll get the same recognition and respect.

Of course the son of the trash man has nothing to be ashamed of! Unless their dad is a criminal, a crooked politician, a corrupt government official, a cheating banker or an unscrupulous merchant, kids should always hold their heads high.

As it happens, this particular graduate admitted that he did used to be ashamed about what his dad did for a living. As he grew older, though, he realised his old man was honest and hard-working enough to pay for his son's education. If a father is responsible in life and career and a good citizen, there's nothing to feel awkward about.

In Thailand, however, we have the children of honest labourers loath to discuss their parents' jobs, and any number of millionaire kids and other spoiled brats forever boasting about their folks' high standing. How many times have we had that dreadful line thrown in our faces, as if in threat: "Do you know who my father is!?" It's too easy to ridicule those kinds of kids, and impossible to point fingers, because we've all fallen into the old habit of judging youngsters according to their parents' social status rather than actual merit.

The Bang Khae district office has announced that it will present an "award" to the trash-collector father. I'm happy for him but, on the other hand, I worry that this is only happening because the social media made such a big deal over the photo. That father deserves a pat on the back, but so do all parents who earn an honest living and put their kids through school. And anyway, speaking as a mother, I believe the garbage-truck driver has already received his "prize" in the form of his son's bachelor's degree.

Thai society should take another look at that photo and ponder the twisted values that have become so habitual. Being poor and powerless is nothing to be ashamed about, not when you earn your happiness through honest means.

 

[Jah_rastafar_I]

Considered one of the most popular photo spots in bangkok

ppl always want to take pictures of this art piece right at the middle in departure. Yup it's a great work of art but those fucking shit skins make it look gross. Hey don't get your panties in a twist chinese dogs ok. Chinese ppl standing there also don't give it justice but are much less disgusting compared to shit skins in the picture. (Can you dig it chinese dog narong?)

That's about it.

 

[Froggy]

ppl always want to take pictures of this art piece right at the middle in departure. Yup it's a great work of art but those fucking shit skins make it look gross. Hey don't get your panties in a twist chinese dogs ok. Chinese ppl standing there also don't give it justice but are much less disgusting compared to shit skins in the picture. (Can you dig it chinese dog narong?)

That's about it.

Hey you racist ah? Lol

Anyway this morning after everyone boarded and settled down pilot announced waiting for 2 more passengers. 10 minutes after departure time the two walked down the aisle like macham king and queen. Guess the race! No need la of course must be shitskins la. If not shitskin I really chop.

 

[Froggy]

Was in Fashion Island Mall for lunch saw a new shop that described itself serving traditional Thai street food.

Ordered a northern street dish Kao Soy which is boiled and deep fried meepok noodle in chicken curry





Bloody price is so far away from street price at 132 baht or $5.20 this is very expensive. Tasted nice though but will not come back again.

 

[Froggy]

If you ask any Thai what is the most popular restaurant in Thailand I believe the answer will be MK. After living here so long and eating MK so often I kindda long for it while holidaying for 2 weeks so tonight went there alone for a very good meal.

The nearest just opposite my place in a hypermart Big C Extra (After Carrefour sold all its hypermarts in Thailand to Big C, Big C called it Big C Extra).







It was already 8.45pm so not many people


The set before food arrives


Ordered a set of mixed vegetables and some a la carte


The veges


Some meat, basically slice beef and pork liver the rest are processed meat balls




Sauces heard from many Singaporeans who've been there said they like the sauce a lot



Last is many Thais like to sit cross legged even on a bench

 

[yinyang]

Thaksin-nomics in another name?

Govt to rebrand populism

Wasamon Audjarint
The Nation October 19, 2015 1:00 am

Populist policies get a different slant - pracha rat - on state and private help for the grass roots

The Prime Minister Prayut Chan-o-cha government has begun re-branding populist policies as pracha rat in the hope it will lead to sustained economic and social development.

Populist policies, called pracha niyom in Thai, are now politically incorrect, as they were launched by former premier Thaksin Shinawatra to get support from the poor.

While populism generally refers to pouring money into the rural grassroots, pracha rat refers to an integrated approach among the public, private and people sectors, Sontirat Sontijirawong, adviser to Industry Minister Atchaka Sibunruang and an economic team colleague of Deputy PM Somkid Jatusripitak, said.

There is no proper English translation for the term pracha rat. Many have suggested "civil state" while the government Spokesman's Office preferred "a state of the people".

"What has been done so far based on pracha rat is still slightly different from pracha niyom," said Somchai Jitsuchon, research director at the Thailand Development Research Institute, referring to the Thai word for populism, which is something distasteful to the current government.

"The concept of pracha rat will be approved once people are 'actively' engaged in the economic system."

While the poor are used to getting handouts from the state, the state under pracha rat would act as a facilitator, rather than a donor, said Sontirat, who is also a member of the National Reform Steering Assembly.

"Those owning most of the resources to market competency are the private and people sectors, not us the government," he said

The concept of pracha rat can be applied to a broad range of economic activities, from marketing local signature products to combating drought crises, he said.

"Farmers won't easily adjust their ways of planting, as they inherited them from generation to generation," he said, referring to one of farmers' obstacles when it comes to drought and climate change.

"But it will work if the government leases their land and hires them to grow alternate crops. This way, farmers will also have products to sell. Once the products are settled in the marketplace, farmers will be able to generate income on their own.

"This is how we are different from populism. We don't simply give money away, but we tend to utilise our budget to create a sustainable economic system," he said.

However, the government cannot understand every little bit of local people's nature and needs. That's why capacity from related players, such as the state-run Bank for Agriculture and Agricultural Cooperatives, is needed to do research and development on the most suitable scheme for the local context.

The government is reviving the fading Joint Government-Private Sector Committee to run the pracha rat policies at a national level. The government also expects to install provincial committees within two to three months.

"We aren't starting everything from zero. It's just impossible under the time limits," he said. "We'd rather revive and adjust what we originally have, to make them more aligned with the concept of pracha rat."

One example is the One Tambon One Product scheme to support the making and marketing of products of local districts. Though initiated in 2001 by then PM Thaksin, Prayut's government looks forward to "enhancing" it as a better, more locally responsive version.

"Let's say many districts produce fruit wines. Then the market will be flooded with wine," he said

"But with pracha rat development, the private sector will engage in market research and let local producers know what the market wants," he said.

The government is now working with its economic team, the joint committee and other agencies to create a final list of 100 projects based on pracha rat, he added.

Poldej Pinprateep, a member of the now-defunct National Reform Committee, is another key person working with Somkid's economic team on the concept of pracha rat.

One of the main outcomes expected from pracha rat policies is economic sustainability. Poldej, however, does not view it from only an economic perspective.

"We also need knowledge sustainability to truly sustain society," he said. "People have to be more educated to achieve this."

One project is organising public venues for knowledge exchanges at the local level, hosted by experts in local project management and administration.

Kicking off on October 28 in Udon Thani, the scheme aims to reinforce the awareness of local people.

"Once educated, people will be aware of what they can do and what they should do.

"They will no longer be just 'people', but they will turn into active citizens. They are 'change agents' - those eager to bring changes and developments to society," he said.

 

[Narong Wongwan]

ppl always want to take pictures of this art piece right at the middle in departure. Yup it's a great work of art but those fucking shit skins make it look gross. Hey don't get your panties in a twist chinese dogs ok. Chinese ppl standing there also don't give it justice but are much less disgusting compared to shit skins in the picture. (Can you dig it chinese dog narong?)

That's about it.

I get it. You hate shitskin and I hate Chinese.....we're both racist.
Wait....you say no same because I'm a chink too so cannot be racist against own race.....no such thing.
Aha how do I know you're not a shitskin yourself? Or that I'm even chink to begin with?
Food for thought you racist nigger!

 

[johnny333]

If you ask any Thai what is the most popular restaurant in Thailand I believe the answer will be MK. After living here so long and eating MK so often I kindda long for it while holidaying for 2 weeks so tonight went there alone for a very good meal.,,,

Every time I visit LOS I will always make a visit to MK. They are convenient because they can be found in most malls in BKK & Pattaya. The food is what Sporeans are used to.

 

[Froggy]

Every time I visit LOS I will always make a visit to MK. They are convenient because they can be found in most malls in BKK & Pattaya. The food is what Sporeans are used to.

You have any comment about the sauce? Many Singaporeans seem to like it.

 

[yinyang]

You have any comment about the sauce? Many Singaporeans seem to like it.

Give me Coca's anytime. But only few outlets, unlike MK's dotted all over. Coca used to have a branch at Orchard building (next to Shaws Centre). MK started belatedly at some mall down in Orchard, 2 years ago.. but no big splash. Still around, anybody?

 

[tonychat]

I

Ordered a set of mixed vegetables and some a la carte


The veges

You eat all these alone??? power!!! i only order the small veggie set usually when i have it alone , plus one bar mee yoke, one bar mee pak and one bowl of rice..Sometimem, have the mood add in a dessert too. Then it will last me for the next 3 hours before i eat something else.

 

[Jah_rastafar_I]

I get it. You hate shitskin and I hate Chinese.....we're both racist.
Wait....you say no same because I'm a chink too so cannot be racist against own race.....no such thing.
Aha how do I know you're not a shitskin yourself? Or that I'm even chink to begin with?
Food for thought you racist nigger!

you are a weird fucker. if you say can be racist to own race then why you ask if i am a shit skin?

Anyway since when did i say you cannot be racist to your own race? You just be called a chinese dog that's it. Nigger.

Btw you also wrote on being blind racist earlier in your other post trying to claim you are not a blind racist even though you hate all chinese and call them scum of them earth.

 

[Narong Wongwan]

Give me Coca's anytime. But only few outlets, unlike MK's dotted all over. Coca used to have a branch at Orchard building (next to Shaws Centre). MK started belatedly at some mall down in Orchard, 2 years ago.. but no big splash. Still around, anybody?

MK came here much earlier as a franchise in parkway and post center but close shop.
The 2nd coming in 313 orchard is direct thai parent. Not much impact due to one factor same as previously is the price.
Ironically mookata in all shapes and forms seemed to have taken off in Sg