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Virus could kill off up to half of garment factories

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Virus could kill off up to half of garment factories

By THE NATION

 

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The Covid-19 crisis is hammering the Thai garment industry and many factories will likely be closed in the near future.

 

Yuttana Silpsarnvitch, president of the Thai Garment Manufacturers Association, said on Thursday (May 26) that factories’ advanced orders have decreased by 30-40 per cent with no sign of a likely return to previous volumes.

 

He appealed to the government for financial aid.

 

“The factory owners need to find a way to save their business and staff, such as by manufacturing medical masks and clothing for medical personnel,” he said.

 

But they still face the problem of cash flow. Some factories can only last a month or two with their orders drastically reduced, he said.

 

“If the Covid-19 situation continues for another month, 20 to 30 per cent of the factories will close, and if it goes on for two more months, 50 per cent. Employment and salaries will be affected most in the Bangkok area.”

 

Domestic demand slumps further with the closure of department stores during the state of emergency, Yuttana noted, and related industries are hurt as well.

 

Source: https://www.nationthailand.com/news/30384883

 

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-- © Copyright The Nation Thailand 2020-03-26

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1 hour ago, snoop1130 said:

“If the Covid-19 situation continues for another month, 20 to 30 per cent of the factories will close, and if it goes on for two more months, 50 per cent. Employment and salaries will be affected most in the Bangkok area.”

So. 50% then. @ParkerN is correct, turbulence ahead.

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11 minutes ago, Metapod said:

the worldwide lockdown is going to cause more damage than the virus

 

talk about cutting your arm off to fix a broken nail.

never heard that saying,

do you mean let everyone catch the virus , what to keep the undertakers busy. or just so you can party

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Thailand has a massive over supply of many goods including garments. Now its all gone quiet they want the government to give them money !  Most of them never pay tax.

 

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How much longer is it going to take before the authorities realize that the "cure" is worse than the disease ??? More people are going to start dying as a result of the shutdown than from the virus 😞 

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No doubt the economic shutdown is going to be infinitely worse than the virus, will wreck far more lives than this relatively weak virus can, and it will require a very long ramp up period, after this thing is over. Consider Thai tourism alone. I predict it will NEVER return to it's previous levels. It was already falling off, and now this? Granted, the administration response to this has been all over the map, and that did not help. But, not sure if shutting down the nation is the right answer. Alot of panic mongering going on right now for the relatively low number of cases. I not need to hear about your panic driven estimates of hundreds of thousands of cases to come. I just do not buy into that frenzied hyperbole. In the US sure. Not here. I think we will top out at around 3,000 to 5,000 cases here. Just my opinion. 

 

Let us infuse a little bit of rationale, into what has become a hysterical, and panic driven issue and discussion. Here is some perspective from many experts, and I tend to agree with alot of it. The panic we are seeing is completely out of proportion to what is happening. These are some comments from alot of experts in the field of coronavirus, and epidemiology. It is really worth a read. Perspective is what is needed right now. There is very little of it going around.  The real damage being done right now, is to the world economy.

 

https://www.zerohedge.com/geopolitical/12-experts-question-covid-19-panic

Edited by spidermike007
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18 hours ago, snoop1130 said:

Virus could kill off up to half of garment factories

it's a fact that with or without virus people steal need clothes and other items for their day to day activities, sure the majority of factories, regardless of their products, are or will be financially affected, unfortunately, they should not expect any help from the government, the hi so have other priorities

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16 hours ago, ParkerN said:

Oh dear, the teeth of the recession are starting to show already.

 

Hang on to your hats gentlemen, this ride is going to be bumpy.

 

 

Nevermind the high speed railway and U-turn bridges over the tracks mega project will save the day. 🤑

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16 hours ago, steve187 said:

never heard that saying,

do you mean let everyone catch the virus , what to keep the undertakers busy. or just so you can party

No, to develop immunity.

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17 hours ago, steve187 said:

never heard that saying,

do you mean let everyone catch the virus , what to keep the undertakers busy. or just so you can party

World population: 7.7 billion

Deaths worldwide as of now: 24,090

Deaths in Thailand: 4

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