webfact Posted July 22, 2019 Share Posted July 22, 2019 Thai economy in crisis: Japanese engineering firm to shut at end of the month Thai caption: No more hiring 77kaoded reported that Sanyo Engineering in the Pin Thong Industrial Park in Sri Racha was shutting down and laying off all staff at the end of this month. They reported that the company has been racking up millions of baht in debt in recent years. They were producing electrical goods, moldings and doing molding repairs. A letter said all staff would be laid off at the end of the month. Compensation would be paid according to the Labor Law and company policy. They blamed the poor state of the economy and lack of sales for the closure. A security guard at the firm said that 15 Thais and 3 Japanese managers were still working there. The staff had known for months about the planned closure. 77kaoded said that the Thai economy was facing a crisis in its headline. Source: 77kaoded -- © Copyright Thai Visa News 2019-07-22 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
khwaibah Posted July 22, 2019 Share Posted July 22, 2019 Crash baht crash.???? Link to comment Share on other sites More sharing options...
Denim Posted July 22, 2019 Share Posted July 22, 2019 Nothing an extra submarine can't fix. Link to comment Share on other sites More sharing options...
geoffbezoz Posted July 22, 2019 Share Posted July 22, 2019 Tip of the iceberg perhaps ? Link to comment Share on other sites More sharing options...
canopus1969 Posted July 22, 2019 Share Posted July 22, 2019 What a pathetic misleading headline, which genius dreamt it up ???? Link to comment Share on other sites More sharing options...
transam Posted July 22, 2019 Share Posted July 22, 2019 2 minutes ago, canopus1969 said: What a pathetic misleading headline, which genius dreamt it up ???? They forgot the ? mark....???? Link to comment Share on other sites More sharing options...
cheapcanuck Posted July 22, 2019 Share Posted July 22, 2019 what about the economic crisis? B S story. Wasted my time on this crap. Link to comment Share on other sites More sharing options...
Just1Voice Posted July 22, 2019 Share Posted July 22, 2019 9 minutes ago, geoffbezoz said: Tip of the iceberg perhaps ? And Thailand is the Titantic. Link to comment Share on other sites More sharing options...
transam Posted July 22, 2019 Share Posted July 22, 2019 2 minutes ago, cheapcanuck said: what about the economic crisis? B S story. Wasted my time on this crap. Theres only 6 posts chum, not 6 pages.....???? Link to comment Share on other sites More sharing options...
Lucius verus Posted July 22, 2019 Share Posted July 22, 2019 Thailand has been in a downward spiral since the army overthrew a democratically elected gov several years ago. Consumption and confidence is way down and small businesses have to shutter due to ever rising costs.. The country is run by corrupt sycophants. Even the tourism industry is a mess. Indians won't save Thailand. There is another round of tax increases due in October. Prayuth has to be removed ASAP. Link to comment Share on other sites More sharing options...
geoffbezoz Posted July 22, 2019 Share Posted July 22, 2019 Just now, Lucius verus said: Thailand has been in a downward spiral since the army overthrew a democratically elected gov several years ago. Consumption and confidence is way down and small businesses have to shutter due to ever rising costs.. The country is run by corrupt sycophants. Even the tourism industry is a mess. Indians won't save Thailand. There is another round of tax increases due in October. Prayuth has to be removed ASAP. Prayuth is only a puppet. Link to comment Share on other sites More sharing options...
ratcatcher Posted July 22, 2019 Share Posted July 22, 2019 1 minute ago, Lucius verus said: Prayuth has to be removed ASAP. Any suggestions? Link to comment Share on other sites More sharing options...
EdrigoSalvadore Posted July 22, 2019 Share Posted July 22, 2019 Does this mean the japanese snack bars in Sriracha will get a hard time now? I enjoy visiting them from time to time. Link to comment Share on other sites More sharing options...
ratcatcher Posted July 22, 2019 Share Posted July 22, 2019 2 minutes ago, EdrigoSalvadore said: Does this mean the japanese snack bars in Sriracha will get a hard time now? I enjoy visiting them from time to time. Surely they weren't relying solely on the Sanyo staff for their customers? Link to comment Share on other sites More sharing options...
ezzra Posted July 22, 2019 Share Posted July 22, 2019 Sanyo used to be a household name like 20 years ago, nowadays hardly any of their products are out there so no wonder that they're going under, it's swim or sink, innovate/renovate or detonate... Link to comment Share on other sites More sharing options...
CGW Posted July 22, 2019 Share Posted July 22, 2019 8 minutes ago, ratcatcher said: The bigger question, surely, is, "Who really is pulling the strings?" A question that can't be answered due to rules and regulations! Great to have freedom of speech isn't it.???? Link to comment Share on other sites More sharing options...
CGW Posted July 22, 2019 Share Posted July 22, 2019 3 minutes ago, ezzra said: Sanyo used to be a household name like 20 years ago, nowadays hardly any of their products are out there so no wonder that they're going under, it's swim or sink, innovate/renovate or detonate... They were bought out by Panasonic - easier to buy the competition than compete? They served their purpose.............. Link to comment Share on other sites More sharing options...
RotBenz8888 Posted July 22, 2019 Share Posted July 22, 2019 The Thai economy is dependent on amulets, just as the cars on the streets, what could go wrong? Link to comment Share on other sites More sharing options...
Megascott Posted July 22, 2019 Share Posted July 22, 2019 This is Sanyo Engineering. They design and produce/maintain molds/Mold bases for press molding. Cutthroat business in Thailand and all over SE Asia. Not related to the Sanyo Electronics company. Looks like they have a huge factory in Hamamatsu, stamping out gaskets and what not. The Thai business looks like outsourcing for the Japanese parent company, which now due to exchange rate changes, is not as profitable as it used to be. I have a chuckle at every gloom and doom headline about the economy. yes, it's a company closing down. will it have any impact on the economy in Thailand? No. Link to comment Share on other sites More sharing options...
Cadbury Posted July 22, 2019 Share Posted July 22, 2019 21 minutes ago, ratcatcher said: The bigger question, surely, is, "Who really is pulling the strings?" The Elite run Thailand or to be more precise, the disgustingly rich 1% who own 67% of the wealth. They tell Prayut how the economy is to be run and he dances to the beat. If he didn't he would be out on his ear. Link to comment Share on other sites More sharing options...
jacko45k Posted July 22, 2019 Share Posted July 22, 2019 2 minutes ago, Kim J said: What? Because all of those three factory managers will maybe soon be on their way back to Japan!!! What do you think? They are fat little buggers. But more money will be lost by their absence on Walking St. Link to comment Share on other sites More sharing options...
gunderhill Posted July 22, 2019 Share Posted July 22, 2019 1 hour ago, webfact said: They blamed the poor state of the economy and lack of sales for the closure. How dare they damage the good Thai name. Link to comment Share on other sites More sharing options...
Assurancetourix Posted July 22, 2019 Share Posted July 22, 2019 39 minutes ago, ratcatcher said: The bigger question, surely, is, "Who really is pulling the strings?" China as they have already done with Cambodia and Laos who are virtually already Chinese provinces Link to comment Share on other sites More sharing options...
Assurancetourix Posted July 22, 2019 Share Posted July 22, 2019 22 minutes ago, Kim J said: This incident relates to a small engineering facility employing 18 people in Thailand!!! This does not constitute an economic crisis in Thailand, or a global economic downturn. These are the small drops of water that make the great rivers... Link to comment Share on other sites More sharing options...
Rimmer Posted July 22, 2019 Share Posted July 22, 2019 A speculative post has been removed Link to comment Share on other sites More sharing options...
Denim Posted July 22, 2019 Share Posted July 22, 2019 2 hours ago, geoffbezoz said: Prayuth is only a puppet. As in muppet. Link to comment Share on other sites More sharing options...
Denim Posted July 22, 2019 Share Posted July 22, 2019 2 hours ago, ratcatcher said: Any suggestions? 5th November redux. Link to comment Share on other sites More sharing options...
LazySlipper Posted July 22, 2019 Share Posted July 22, 2019 7 hours ago, Lucius verus said: The country is run by corrupt sycophants not sure you are using sycophants the right wat here. Sycophant: a person who acts obsequiously toward someone important in order to gain advantage. In other words a brown nose. Politicians here actually run things however they want without sucking up to anyone. Link to comment Share on other sites More sharing options...
billd766 Posted July 22, 2019 Share Posted July 22, 2019 7 hours ago, Kim J said: Unfortunately this type of sensationalism is the norm now when it comes to the news media. It is the same the world over. Most publications now seemingly would never consider letting the truth get in the way of a good story. The three Japanese workers will simply return home, and the 15 Thai's will either get a new job or continue to support themselves from one illegal activity or another. How can that constitute a "crisis"?? A lot depended on how many were working there at its peak. Link to comment Share on other sites More sharing options...
toenail Posted July 22, 2019 Share Posted July 22, 2019 What international companies won’t admit because it is not PC, finding and keeping a trained, educated Thai staff is difficult which adds to the challenge of a company. Though benefits & salary is above the norm for qualified Thais. the selection pool of Thais is very limited for foreign companies that come here. Link to comment Share on other sites More sharing options...
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