Over 1,300 factories were up for sale or out of business in first 10 months of 2019

[Chazar]

2 hours ago, Tayaout said:

Thailand number 1.

for roadkill

[dallen52]

Maybe, just maybe. 

The fat cats will start to look at what can be done to ease the pain. 

I've mentioned this before. 

Economy is a balance between domestic and export sales. 

Investors will not invest in Thailand when its running in overdrive on exchange rates. 

Who wants to buy Thailand exports when they are more than 30% dearer than home country products?

They will also look at cheaper option countries. 

Those who offer incentives, or concessions. 

 

Its not just the tourists who are feeling the pain. 

[Brigand]

1 hour ago, smutcakes said:

Which BIG Boys are you referring to?

I think investing in manufacturing here is a far cry fro the complex issues surrounding mineral deposits and state concessions.

Could also go and ask Carlsberg or Pepsi then.

[DUNROAMIN]

Don't worry, tomorrow all will be good from another government department, reporting, 1,000 new companies opened in the first 10 months for 2019 and tourism will be up by 100% in the high season for 2019-2020!

[dallen52]

7 minutes ago, Andrew65 said:

In most Western countries, where people are registered for unemployment (not sure if this happens in Thailand due to there being no real social welfare), it's stated that the lowest possible unemployment rate is never going to lower than around 5'ish%.

I always thought it (In)un-credible that Thailand could quote 1% as a realistic figure.

0.67% unemployment rate is touted. As published. 

Beyond the big cities and employers, are millions more who pay no taxes nor have employment benefits. 

For a country that has id cards, it should not be too hard to get a better snapshot of what is happening. 

 

Just look at FB. 

Just about every thai woman is self employed.... lol.

[Tayaout]

7 minutes ago, Chazar said:

for roadkill

You sound like the half empty type. Instead of roadkill, I say auto parts manufacturer stimulus. 

[Enoon]

1 hour ago, smutcakes said:

Which BIG Boys are you referring to?

I think investing in manufacturing here is a far cry fro the complex issues surrounding mineral deposits and state concessions.

 

Japan.

 

 

 

 

 

 

 

[Andrew65]

2 minutes ago, dallen52 said:

0.67% unemployment rate is touted. As published. 

Beyond the big cities and employers, are millions more who pay no taxes nor have employment benefits. 

For a country that has id cards, it should not be too hard to get a better snapshot of what is happening. 

 

Just look at FB. 

Just about every thai woman is self employed.... lol.

They probably wouldn't, but The Economist could probably give a true estimate of unemployment in Thailand. Anywhere between 5-15%, realistically??!!

[neeray]

8 hours ago, BestB said:

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?

 

These radical swings need to be reported to the fake news ministry (or whatever the heck they call that department). They'll get right on it. Problem sorted.

[Millcx]

14 hours 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.

It’s the Thai Baht ... end of ... About time they realise that tourism and trade will be destroyed and they will go back to third world not emerging market “;0(

[kevin612]

Global financial crisis happen next year.

[neeray]

3 hours ago, jlwilliamsjr18 said:

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. 

 "Thais are way over their heads"

 

You're right but those who mismanage the economy are way in over their heads too. The day of reckoning is slowly coming. They can only keep fooling the people for so long.

[rkidlad]

15 minutes ago, steven100 said:

enough said. your baiting posts become tedious after a while.

I'll always stand by my comments. If you genuinely believe the words coming out of your mouth, you should to. Own it. 

[GalaxyMan]

8 hours ago, BestB said:

Is everyone in this government suffering with bipolar?

Maybe, but they are definitely suffering from willful stupidity and incompetence, not to mention their magic machine that lets them pull whatever numbers out of their rear orifices to justify what they want to believe in defiance of reality.

[Andrew65]

4 minutes ago, kevin612 said:

Global financial crisis happen next year.

Mind you, they say that every year.

 

Might take a Lehman/Deutsche Bank moment to trigger it.

 

"It's only when the tide goes out that you can see who's been swimming in the nude".

 

Warren Buffet

[rossco1]

what should happen is that all foreigners living here for just a few day should stop spending that's buy nothing give wife gf who even no money and see what happens then maybe they will see that we also provide to the community and country not Just Chinese and Indians 

[Matzzon]

14 hours ago, snoop1130 said:

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.

That´s worrying! What in the world can be the reason for this terrible circumstance?
 

14 hours ago, snoop1130 said:

The factories were classified into 21 industrial groups including crop products, food, drinks, clothes, woodwork, paper, chemical products, machines, electronic devices, and automobiles.

Ooh, that means we can almost in an easy way sum it up to be "The factories belonged to all areas of business", which must mean that it´s a big factor that is behind this ordeal.
 

14 hours ago, snoop1130 said:

Entrepreneurs are meanwhile expressing concern that Thailand’s subdued economic situation in 2019 would continue in 2020.

Yeah, and why is that?
 

14 hours ago, snoop1130 said:

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.

There is nothing wrong with the Thai economy. The Baht is stronger than ever!

Hmmm... wait now....Can that be the big factor? The Thai Baht is to strong? Nah, can´t believe that, can we?

[Duck J Butters]

2 hours ago, smutcakes said:

Many manufacturers in any country have parts of their part supply chain outside of the country, that is entirely normal.

 

There are a good number of Chinese companies coming here, especially to areas like Thai Chinese Industrial Estate by Amata, they cannot get land quick enough. Obviously a tiny % of companies moving from China to Thailand is a flood given the differentials in the size of the market.

 

The economy is not great at the moment in Thailand and around the World, but to claim there are no Chinese companies locating here shows you have pretty limited knowledge on the subject.

 

And i also believe that China labor rates are actually higher than Thailand now.

Having Chinese companies is not necessarily a good thing. For example, Alibaba just got approved to build a giant warehouse in Thailand that is bigger than the entire island of Phuket. Alibaba will make 95% of Thai businesses obsolete within a decade. Alibaba does absolutely nothing to help the Thai economy. They use Chinese factories to make everything and all their workers are AI and robots. Classic Trojan Horse. Thailand made a big mistake by choosing Alibaba over Amazon. Their entire country will essentially become a Chinese territory used for slave labour by 2030. Versus the USA would have helped Thailand to prosper and head in the direction of Vietnam which has a bright future. China seems great at first because they flash a lot of cash but essentially you're doing a deal with the devil. Chinese are extremely racist as well, they view those with darker skin as inferior due to having a lower average IQ and not having to evolve in the harsher conditions of Northern Asia. The end goal  of the Chinese is to move all of their slave labor camps into Southeast Asia. They have already taken over Cambodia in this regard and you now see signs like this "No Cambodians Allowed" hanging all over buildings in Cambodia. Same thing will happen in Thailand. Same thing is actually happening in the US. Chinese are buying up America right out from under. Chinese are genius. Anyways, this is why I'm heavily invested in both Alibaba and China. I expect a 10x return at least.

[Andrew65]

4 minutes ago, Duck J Butters said:

Having Chinese companies is not necessarily a good thing. For example, Alibaba just got approved to build a giant warehouse in Thailand that is bigger than the entire island of Phuket. Alibaba will make 95% of Thai businesses obsolete within a decade. Alibaba does absolutely nothing to help the Thai economy. They use Chinese factories to make everything and all their workers are AI and robots. Classic Trojan Horse. Thailand made a big mistake by choosing Alibaba over Amazon. Their entire country will essentially become a Chinese territory used for slave labour by 2030. Versus the USA would have helped Thailand to prosper and head in the direction of Vietnam which has a bright future. China seems great at first because they flash a lot of cash but essentially you're doing a deal with the devil. Chinese are extremely racist as well, they view those with darker skin as inferior due to having a lower average IQ and not having to evolve in the harsher conditions of Northern Asia. The end goal  of the Chinese is to move all of their slave labor camps into Southeast Asia. They have already taken over Cambodia in this regard and you now see signs like this "No Cambodians Allowed" hanging all over buildings in Cambodia. Same thing will happen in Thailand. Same thing is actually happening in the US. Chinese are buying up America right out from under. Chinese are genius.

Maybe a similar thing happening in the UK. Companies like Amazon having warehouses selling billions of $$ worth of goods, hardly any of which are produced in the UK. They probably pay almost no corporation tax either, their employees would, if they were paid enough to??

[smutcakes]

53 minutes ago, Brigand said:

Could also go and ask Carlsberg or Pepsi then.

Pepsi have a huge facility in Nongkhae industrial park in Saraburi and another one in Amata City Rayong. 

[Grumpy John]

It's been said I am a sceptic as well as a right leaning relic from a bygone era.....not that I give a rats arz!  But after several decades of watching the rise and fall and rise again of countries and currencies I have come to the conclusion we the great unwashed masses are rarely, if never, placed to take advantage of the sea of money that is there to be made.  It's a rigged game plain and simple.  This is  what is happening in Thailand now.  I have several hundred thousand baht in the bank which I would like to use but having to leave 400.000 baht for visa, 200.000 baht for a medical emergency.....treatment in a government hospital......plus 160k in blue book and cash. Foiled again by the looks of it.  Oh For a few extra million!  ????

[Andrew65]

2 minutes ago, Tayaout said:

In the US (and probably most other countries) they don't count you as unemployed once you haven't found work for a couple years. That's some kind of lie. 

In the UK you can have no work or income, and still be classified as being in employment (over a given time). Zero hours contracts.

 

Also, working for one hour a week counts as full employment.

 

It's how the governing Tory party can lie about having "full employment".

[smutcakes]

15 minutes ago, Duck J Butters said:

Having Chinese companies is not necessarily a good thing. For example, Alibaba just got approved to build a giant warehouse in Thailand that is bigger than the entire island of Phuket. Alibaba will make 95% of Thai businesses obsolete within a decade. Alibaba does absolutely nothing to help the Thai economy. They use Chinese factories to make everything and all their workers are AI and robots. Classic Trojan Horse. Thailand made a big mistake by choosing Alibaba over Amazon. Their entire country will essentially become a Chinese territory used for slave labour by 2030. Versus the USA would have helped Thailand to prosper and head in the direction of Vietnam which has a bright future. China seems great at first because they flash a lot of cash but essentially you're doing a deal with the devil. Chinese are extremely racist as well, they view those with darker skin as inferior due to having a lower average IQ and not having to evolve in the harsher conditions of Northern Asia. The end goal  of the Chinese is to move all of their slave labor camps into Southeast Asia. They have already taken over Cambodia in this regard and you now see signs like this "No Cambodians Allowed" hanging all over buildings in Cambodia. Same thing will happen in Thailand. Same thing is actually happening in the US. Chinese are buying up America right out from under. Chinese are genius. Anyways, this is why I'm heavily invested in both Alibaba and China. I expect a 10x return at least.

Alibaba, well to be precised Cianiao their logistic company are having a 130,000sqm facility built by WHA (a listed Thai firm) om Bangna Trad inbound KM 36. What on earth are you talking about something the sizw of Phuket. Such complete nonsense.

[metisdead]

Off topic baiting posts and replies have been removed.

 

A post in violation of fair use policy has been removed as well as a reply. 

[bronzedude]

If this is not fake news, then I hope it continues. I'm an expat who's buying less and investing less in Thailand because the government thinks so little of me. I just returned from the US and bought 2 iphone 11's. One for the wife and one for me. These are the kind of purchases I would have made in Thailand if  I felt I was respected more. I've been here 10 years and bought 2 new cars-cash. But I will drive the current car until it will go no more. I'm still waiting for the other shoe to drop on the mandatory insurance scam. I have Blue Cross Blue Shield international which has already paid for 2 major operations here. The foreign insurance verification form was obviously designed by a moron because foreign insurance companies use percentages like 90% or 70% and not hard money figures to calculate coverage. When that shoe drops, I'll be moving. I'll continue to support my wife and by extension, her family. I'll come back as a low quality tourist to see her. I'll have any major medical procedures that are not emergencies done in the US where they will be free. Again this is money that Thailand will never see. Enough said.

[neeray]

16 minutes ago, Duck J Butters said:

 The end goal  of the Chinese is to move all of their slave labor camps into Southeast Asia. They have already taken over Cambodia in this regard and you now see signs like this "No Cambodians Allowed" hanging all over buildings in Cambodia. Same thing will happen in Thailand. Same thing is actually happening in the US. Chinese are buying up America right out from under. Chinese are genius. Anyways, this is why I'm heavily invested in both Alibaba and China. I expect a 10x return at least.

Edited 4 minutes ago by Duck J Butters

Thanks for stating so clearly where your loyalty lies ...... the Gawd Almighty Buck

[Caine]

4 hours ago, Borzandy said:

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.

Don’t know where he’s drinking. Pattaya Bar last night good lively  bar, good music free pool table. Cashier with the most enormous plastic boobs small Chang 50bht. 

[hotchilli]

15 hours ago, snoop1130 said:

Over 1,300 factories were up for sale or out of business in first 10 months of 2019

Many countries around the world are feeling the same global slowdown, however the smart ones are on top of the situation and made or making changes to stay in business. 

Thailand is oblivious to what's happening and denying any problems, quoting brisk business, higher exports, new markets etc etc... all rubbish.

Wait till next year and witness the reality of your head in the sand thinking this will blow over in a month or two!

[Thingamabob]

Never seen so many closures in and around Rayong. 

[Duck J Butters]

14 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 .

I went to buy a used 2016 Mercedes SLK 200 ( 25,000 km mileage ) for my wife in Bangkok the other day. The asking price was 2.5 million. I offered a 2.3 million baht bank transfer right there on the spot. The dealership rejected my offer. I was stunned. I could buy this same exact car in the US for 700,000 baht. I felt sick paying 1.8 million baht extra for a car that's not all that special...but the wife wanted it.

 

Clearly the Thai car dealerships aren't struggling that much because they literally turned down a 2.3 million baht sale, a squabble of 200,000 baht. They clearly think they can get the 2.5 million from some other schmuck. I refused to cave to their pressure as this Mercedes dealership was extremely rude, pompous, and just didn't seem to care about my business.