snoop1130 Posted November 11, 2019 Share Posted November 11, 2019 Over 1,300 factories were up for sale or out of business in first 10 months of 2019 By The Nation There were 1,339 factories with 34,569 employees and a total investment of approximately Bt56.9 billion registered for sale or out of business in the first 10 months of 2019, according to the Industry Ministry. The factories were classified into 21 industrial groups including crop products, food, drinks, clothes, woodwork, paper, chemical products, machines, electronic devices, and automobiles. Entrepreneurs are meanwhile expressing concern that Thailand’s subdued economic situation in 2019 would continue in 2020. Thai Plastic Industrial 1994 PCL managing director Teerachai Teerarujinon said the future of the industry was uncertain with the risk still high, and the matter of most concern in the next two or three years would be labour security, since a majority of labourers from neighbouring countries that Thailand depends on would expectantly return to their homeland if the Thai economy got worse. Source: https://www.nationthailand.com/news/30378245 -- © Copyright The Nation Thailand 2019-11-11 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
Yadon Toploy Posted November 11, 2019 Share Posted November 11, 2019 There are dozens of major companies out on the Eastern Seaboard in trouble. Many are shuttering up for a few months and laying off staff. There's major trouble ahead. Link to comment Share on other sites More sharing options...
RotBenz8888 Posted November 11, 2019 Share Posted November 11, 2019 15 minutes ago, snoop1130 said: Entrepreneurs are meanwhile expressing concern that Thailand’s subdued economic situation in 2019 would continue in 2020. Worst is yet to come. Link to comment Share on other sites More sharing options...
steven100 Posted November 11, 2019 Share Posted November 11, 2019 4 minutes ago, Yadon Toploy said: There are dozens of major companies out on the Eastern Seaboard in trouble. Many are shuttering up for a few months and laying off staff. There's major trouble ahead. agree .... however this is not only happening in Asia it is the same in Australia. Many large companies closing or going bust, building companies, banks laying off staff, retail sales has actually gone into recession, the global downturn in every economy is starting to hit and I believe things are going to be dire for years to come. Link to comment Share on other sites More sharing options...
ivor bigun Posted November 11, 2019 Share Posted November 11, 2019 A friend of my wifes works for a major car manufacturer here ,she is in quite a high position and is in sales ,traveling to many countrys ,they have many many many thousands of cars stored as nobody is buying them ,owing to the high baht . she says its very worrying ,also our son is in charge of a Thai company ,they are doing quite well ,but many companys on the estate are in great difficulty he was saying this weekend . Link to comment Share on other sites More sharing options...
metisdead Posted November 11, 2019 Share Posted November 11, 2019 Off topic posts about the UK and Brexit have been removed. Link to comment Share on other sites More sharing options...
happy chappie Posted November 11, 2019 Share Posted November 11, 2019 the futures so bright I've got to wear shades.i see this coming before I got married and that was over 3 years ago. i used to say...teerak soon Thailand will have a financial money tsunami and here it comes. most in this government probably thought it was good to have a strong baht.....oh yes we are champions,our baht super strong,better than any money around the world. now the ship has started to hit the fan they are left scratching their heads and it's slowly dawned on them it ain't such a good thing. with household debt thrown in this country is in for a proper rough ride. Link to comment Share on other sites More sharing options...
mercman24 Posted November 11, 2019 Share Posted November 11, 2019 i see no problem said the ostrich (think about it) about sums this lot up lol Link to comment Share on other sites More sharing options...
gk10002000 Posted November 11, 2019 Share Posted November 11, 2019 seems like a huge loss of opportunity and incentive for many many Thais. If legitimate businesses keep falling by the wayside, that leaves.. well, some less savory markets. Now as they seem to be aggressively chasing out long stay expats and retirees or at best levying more and more requirements on them and costs, I guess the little and middle people will get more and more shunted and just some corporations such as organized travel groups, travel group owned hotels will run their course for a while. Link to comment Share on other sites More sharing options...
BestB Posted November 11, 2019 Share Posted November 11, 2019 Once again contradicting news, Just few weeks ago, BOI stated heaps of new companies and investments. Just like economy news, one day its falling apart, the next day is booming and growing. One day tourist numbers are down, next day its an increase and more than ever One day exports are down, next day exports have grown Is everyone in this government suffering with bipolar? Link to comment Share on other sites More sharing options...
kingofthemountain Posted November 11, 2019 Share Posted November 11, 2019 It's not a problem at all some more ''hub'', a pinch of EEC, 2 or 3 hot air in the media from the concerned minister and everything should be going well Link to comment Share on other sites More sharing options...
Borzandy Posted November 11, 2019 Share Posted November 11, 2019 10 hours ago, yogi100 said: It's not just factories that are struggling and it's all because of the strong baht. I got talked into buying a girl a bottle of San Miguel beer last night at a cost of 140 baht (nearly four quid in UK money) That's in an open air beer bar! I won't be doing that again in a hurry. That same beer in the same bar was 130 baht the last time I was in Pattaya in July. It's now the start of high season and that bar is not much busier than it was back then. Punters can't afford these prices any more than foreign importers can afford to buy Thai exports at such inflated prices. Yes there is a huge difference between 130 Baht and 140 Baht. Especially when it's well known that all bars in Thailand can fix there own price. Link to comment Share on other sites More sharing options...
Denim Posted November 12, 2019 Share Posted November 12, 2019 Relax. All part of returning happiness to the people. The thinking is that by mismanaging the economy , the government will cause more unemployment and the working classes will have a lot more free time to pursue their hobbies or wander aimlessly around shopping malls window shopping. Link to comment Share on other sites More sharing options...
thailand49 Posted November 12, 2019 Share Posted November 12, 2019 Don't worry the Chinese and Indians are coming to save the day! One day it is good one day it is bad! Does this mean for retirees and others no more income verification, no more money in the bank, no more TM-30, reduce ATM Charges, no more duel pricing????? Link to comment Share on other sites More sharing options...
thailand49 Posted November 12, 2019 Share Posted November 12, 2019 1 minute ago, Denim said: Relax. All part of returning happiness to the people. The thinking is that by mismanaging the economy , the government will cause more unemployment and the working classes will have a lot more free time to pursue their hobbies or wander aimlessly around shopping malls window shopping. More visits and donations to the Temples praying it will get better? Link to comment Share on other sites More sharing options...
jlwilliamsjr18 Posted November 12, 2019 Share Posted November 12, 2019 10 hours ago, RotBenz8888 said: Worst is yet to come. Agreed. This condition is nothing new. It's been coming for a long time. Young Thais are way over their heads in debt (virtually 80% of GDP is debt), unchecked expansion, construction etc, and unmonitored tourism will not make it all good. At the same time blaming expats and others doesn't help either. Link to comment Share on other sites More sharing options...
Destiny1990 Posted November 12, 2019 Share Posted November 12, 2019 Its a tsunami of good financial news here lately ! Link to comment Share on other sites More sharing options...
Chazar Posted November 12, 2019 Share Posted November 12, 2019 11 hours ago, snoop1130 said: since a majority of labourers from neighbouring countries that Thailand depends on would expectantly return to their homeland if the Thai economy got worse. and lest not forget your ridiculous registering of foreign workers where you must specify their exact work and they must not deviate from that..then spread the reporting locations sparsely and impose unbelievable fines for non conformity to both employers and employees........idiots!! Link to comment Share on other sites More sharing options...
Crash999 Posted November 12, 2019 Share Posted November 12, 2019 Exporters are really suffering because of the strong Baht but aside from a belated rate cut nothing has been done. Link to comment Share on other sites More sharing options...
worgeordie Posted November 12, 2019 Share Posted November 12, 2019 Just the other day it was reported ,droves of companies are relocating here from China,because of the US sanctions, So is that fake news ? if only Thai people knew the real truth. regards Worgeordie Link to comment Share on other sites More sharing options...
ICELANDMAN Posted November 12, 2019 Share Posted November 12, 2019 That Thailand only finds out that the world and recession is ridiculous, the real reason is that Western companies have been producing for a long time with robots in factories, making the low cost of Asian countries out of world competitiveness, while Thailand has remained to look, in the future this country is destined only to produce food for world trade, nothing more. Link to comment Share on other sites More sharing options...
AhFarangJa Posted November 12, 2019 Share Posted November 12, 2019 31 minutes ago, thailand49 said: Don't worry the Chinese and Indians are coming to save the day! One day it is good one day it is bad! Does this mean for retirees and others no more income verification, no more money in the bank, no more TM-30, reduce ATM Charges, no more duel pricing????? I just love your optimism, it has brightened my day no end, many thanks............ Link to comment Share on other sites More sharing options...
Tayaout Posted November 12, 2019 Share Posted November 12, 2019 Strong baht. Strong military. Gold up. Thailand number 1. Link to comment Share on other sites More sharing options...
ChipButty Posted November 12, 2019 Share Posted November 12, 2019 It's happening on a local basis maybe the government dont take note of that, the other day I was talking to a girl I know she works in a small resort they have laid off staff down to one cleaner were they had 3 Link to comment Share on other sites More sharing options...
AhFarangJa Posted November 12, 2019 Share Posted November 12, 2019 7 hours ago, happy chappie said: the futures so bright I've got to wear shades.i see this coming before I got married and that was over 3 years ago. i used to say...teerak soon Thailand will have a financial money tsunami and here it comes. most in this government probably thought it was good to have a strong baht.....oh yes we are champions,our baht super strong,better than any money around the world. now the ship has started to hit the fan they are left scratching their heads and it's slowly dawned on them it ain't such a good thing. with household debt thrown in this country is in for a proper rough ride. Yes, but the strong Baht is great for all the top brass to make a killing in foreign investments with all their "savings and pensions"........ Link to comment Share on other sites More sharing options...
PatOngo Posted November 12, 2019 Share Posted November 12, 2019 No problem! "Chim, Shop, Chai!" Link to comment Share on other sites More sharing options...
yellowboat Posted November 12, 2019 Share Posted November 12, 2019 11 hours ago, snoop1130 said: Entrepreneurs are meanwhile expressing concern that Thailand’s subdued economic situation in 2019 would continue in 2020. The government was saying things were fine. Kind of what happens when you shutout the rest of the world, making business difficult. The junta strategy in keeping the money at the top seems to be working, but may not for much longer. Link to comment Share on other sites More sharing options...
miamiman123 Posted November 12, 2019 Share Posted November 12, 2019 Strong Thai baht foretold this Link to comment Share on other sites More sharing options...
Andrew65 Posted November 12, 2019 Share Posted November 12, 2019 11 hours ago, ivor bigun said: A friend of my wifes works for a major car manufacturer here ,she is in quite a high position and is in sales ,traveling to many countrys ,they have many many many thousands of cars stored as nobody is buying them ,owing to the high baht . she says its very worrying ,also our son is in charge of a Thai company ,they are doing quite well ,but many companys on the estate are in great difficulty he was saying this weekend . The flip-side being that this is very good for Thais buying things overseas. I was first in Thailand in 1985 when it was dirt cheap, it just ain't any more. A much wealthier country, for one thing. Link to comment Share on other sites More sharing options...
Skallywag Posted November 12, 2019 Share Posted November 12, 2019 I'd say 1300 businesses in Pattaya alone. The number of beer bars and shops for sale or rent, closed down to build more condos that will remain 70% empty. Capitalism doesn't work when you do not research the demographic and market you are doing business in. Consumerism is changing, cannot go on what worked 25 years ago and keep manufacturing/selling products that have long since flooded the marketplace Link to comment Share on other sites More sharing options...
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