Category

Business

Category


According to a survey released on Thursday, stronger economic activity following the relaxation of Covid-19 limits and an increase in foreign visitor arrivals helped Thai consumer confidence rise for a sixth consecutive month in November, reaching a 20-month high.

The consumer index of the University of the Thai Chamber of Commerce (UTCC) rose to 47.9 points in November from 46.1 in October.

The UTCC anticipates that the New Year’s celebration will create approximately 100 billion Baht in economic activity, which would be comparable to the level of income in the pre-Covid era.

Thanavath Phonvichai, president of the institution, stated at a briefing that 3.2% to 3.3% economic growth is predicted for this year and 3.5% to 4.0% for the following year.

The crucial tourism industry, which is expected to welcome 10 million international visitors this year and at least 20 million to 22 million the next year, will continue to be the engine of the economy, according to Thanavath.





Source link


The Stock Exchange of Thailand (SET) will list Betagro pcl, a leading integrated food company with high quality and food safety that moves towards a world-class Food & Agro total solutions provider, on November 2, under the ticker symbol “BTG”. The company has a market capitalization at its initial public offering (IPO) of THB 77.39 billion (approx. USD 2.05 billion).

SET Senior Executive Vice President Manpong Senanarong said that BTG would list and start trading on SET in the Agro & Food industry group, marking the industry’s largest IPO in the Thai capital market and Southeast Asia this year.

BTG is a fully integrated agribusiness and food business covering the entire value chain from upstream to downstream, namely the production and distribution of animal feeds, animal medicine, commercial farming, processing of pork, chicken, egg and fish products, processed food products, ready-to-cook and ready-to-eat food products, and pet foods.

All these are distributed domestically and internationally in more than 20 countries around the world. Currently, BTG’s well-known brands of meat products, processed foods and sausages include S-Pure, Betagro, ITOHAM, and those of the pet food products are Perfecta, DOG n Joy and CAT n Joy.


SET News :SET welcomes world-class Food & Agro total solutions provider “BTG” on November 2





Source link


Singapore has risen four places in the latest global cost of living rankings, making it the eighth most expensive location in the world and second in Asia, while Bangkok fell 12 places to 63rd, continuing its move away from the global top 50.

“The biggest driver behind Singapore’s rise in our latest rankings has been the double-digit increase in rental costs in 2022,” said Lee Quane, Regional Director – Asia at ECA International. 

“The Covid-19 pandemic impacted the supply of accommodation coming to market, and the resurgent demand has increased significantly with the city reopening its borders once again. This may be a short-term shock, but it has nevertheless been responsible for Singapore’s current position as one of the ten most expensive cities worldwide.”

Lee Quane, Regional Director – Asia at ECA International. 

Southeast Asia Highlights

High rates of inflation have contributed to rises in the rankings for several locations in Malaysia, including Johor Bahru. However, its capital Kuala Lumpur moved down to 167th, as the Ringgit’s weakness against the US Dollar has offset some of the impact that inflation has had on its ranking.

Meanwhile, cities across Thailand and the Philippines have all seen drops in this year’s rankings. Bangkok fell 12 places to 63rd, continuing its move away from the global top 50, while Manila fell 10 places to 67th and Cebu City 14 places to 169th globally.

Laos in particular saw the largest fall in rankings among Southeast Asian locations, with Vientiane dropping 29 places to 193rd in the world as a result of the Kip weakening against the US dollar by 38%.

Asia Highlights

Despite the general uptrend in inflation rates globally, those across Asia have seen relatively smaller upticks, resulting in almost 65% of surveyed locations in the region falling in this year’s Cost of Living rankings.

Hong Kong, which came in first in last year’s rankings, has moved down one place to become the second most expensive location in the world. In spite of relatively high rates of inflation and a strong Hong Kong Dollar, its drop can be attributed to a fall in accommodation costs. Demand for properties popular with expatriates fell as the Hong Kong economy stuttered in the face of slowing economic growth in China, uncertainties in imposing the national security law as well as strict Covid restrictions.

“Like many places in the world, prices of day-to-day goods and services grew in Hong Kong at a rate well above what we have seen in recent years, while also surpassing the average rate of growth witnessed in the Asia region,” said Quane. “However, demand for rental accommodation has weakened on account of Hong Kong’s sub-par economic performance recently, which has caused rental prices to fall in turn and contributed to Hong Kong’s decline in our rankings.”

In China, with the yuan weakening against the US dollar and amidst relatively low inflation rates, Chinese cities found themselves further down the rankings compared to last year, with Guangzhou and Shanghai dropping out of the global top 10.

“Low rates of inflation compared to other locations worldwide and a weaker currency have made locations in mainland China relatively cheaper for expatriates this year,” explained Quane. “Although living costs in Chinese cities have risen over the past year, the cities have nonetheless fallen in our rankings as cost of living continues to climb at a faster rate elsewhere.” 

Meanwhile, Japan, which has typically been regarded as a country with a relatively high cost of living, saw a significant departure from the norm this year. The depreciation of the Japanese yen by 20% year-on-year against the US dollar led to big falls in the rankings for all Japanese cities surveyed – Tokyo, which ranked third globally last year, has fallen out of the top 10 this year, while Nagoya fell 49 places to 87th.

Global Highlights

New York has been named the most expensive location in the world, owing to the strength of the US dollar and high inflation. These factors have also led to all other US cities moving up in this year’s rankings, with San Francisco now in sixth and Los Angeles entering the global top 20.

In contrast, most locations in Europe have seen drops in their positions despite high inflation rates driven by rising fuel and food costs. This was primarily spurred by a weakened euro and British pound, which has made expenses in regional cities cheaper in comparison to other cities around the world.

“Following the euro’s significant depreciation to parity with the US dollar, cities across the eurozone fell in the rankings despite high inflation rates fuelled by the war in Ukraine,” said Quane. “Throughout the region, only nine cities rose in the rankings, with London being one of them. However, the eurozone was not alone in this, as many other currencies also weakened against the US dollar.” 

With inflation rates surging beyond 100% in Turkey, the country has become more expensive for expatriates and tourists alike despite the plunging value of the lira – Istanbul rose 27 places to 150th, while Ankara moved out of last place to 205th.





Source link


Aggressive monetary tightening in advanced economies has pushed up bond yields and worsened the downturn of financial conditions in emerging East Asia, according to a report by the Asian Development Bank (ADB).

Regional currencies fell against the US dollar, equities dropped, and risk premiums widened between August 31 and 4 November, according to the latest update of Asia Bond Monitor, released today. Portfolio outflows were also seen in most regional bond markets.

Global inflation, slower growth in the People’s Republic of China (PRC), and economic fallout from the Russian invasion of Ukraine continued to threaten the region’s short-term prospects.

“Financial conditions in emerging East Asia weakened at a faster pace in September and October than in the first eight months of 2022, due to the aggressive tightening by the US Federal Reserve,”

ADB Chief Economist Albert Park

said ADB Chief Economist Albert Park. “However, the region remains largely resilient so far, despite various headwinds.”

Local currency bond issuance in emerging East Asia contracted 1.1% from the previous quarter to $2.2 trillion in the third quarter, amid subdued investment sentiment. Local currency bonds outstanding grew 2.3% to $22 trillion. Emerging East Asia comprises member economies of the Association of Southeast Asian Nations (ASEAN); the PRC; Hong Kong, China; and the Republic of Korea.

Government bond issuance dropped 4.5%

Government bond issuance dropped 4.5% from the previous quarter, while corporate bond issuance grew 5.7%, largely supported by Chinese companies taking advantage of domestic monetary easing measures. Rising interest rates drove a 2.0% decline in corporate bond issuance in ASEAN markets.

The sustainable bond market in the ASEAN region plus the PRC; Hong Kong, China; Japan; and the Republic of Korea grew 1.7% to $521.6 billion at the end of September. While the growth was slower than in the previous quarter, the segment witnessed improved diversification in terms of market profile and bond types.

The latest issue of the Asia Bond Monitor features notes on two special topics: the relationship between regional trade integration and regional financial integration, and the promotion of financial stability and resilience to shocks through the development of local currency bond markets.





Source link


Singapore-based investment company Temasek today announced that it will open a new office in Paris, which will be operational in H1 2023.

  • New office will enhance access to deals, partnerships and talent pool in EMEA and EU region
  • Paris office will work together with London and Brussels offices to strengthen Temasek’s global network
  • New office will be operational in H1 2023

Together with its London and Brussels offices, the Paris office will strengthen Temasek’s global network, and help enhance access to deal flow, partnership opportunities and the talent pool across both the European Union (EU) and the broader Europe, Middle East and Africa (EMEA) region. With this new Paris office, Temasek’s global footprint will increase to 13 offices across 9 countries.

“This new office is part of our 2030 strategy to expand our global network, construct a resilient portfolio and grow our organisation, talent and capabilities, with sustainability at the core.”

Mr Dilhan Pillay, Executive Director and Chief Executive Officer of Temasek Holdings

“In today’s complex world, a global network both in Temasek and across our partner ecosystem is critical to help address the numerous issues that we face – from wide ranging geopolitical tensions to the challenging macroeconomic environment. Added to that, the existential issue of climate change requires all of us to do our part, innovating across climate change mitigation, adaptation and transition solutions.”

The new Paris office will work closely with Temasek’s existing offices in London and Brussels to further expand Temasek’s presence and access to opportunities in EMEA, in addition to tapping on the expertise of sector teams and Temasek’s network of portfolio companies and platforms.





Source link


Tesla Motors, Inc is looking to launch in Thailand this month after boosting its hiring efforts in the kingdom.

The automaker, owned by billionaire Elon Musk, faces stiff competition from Chinese players already present in the electric vehicle (EV) market, such as Great Wall Motors with its Ora Good Cat subcompact EV and Hozon Auto with its Neta V electric sports utility vehicle.

20 open posts based in Bangkok

Since September of this year, Tesla has had 20 open posts based in Bangkok, with positions including a home-charging developer, charging infrastructure lead, technicians and customer service reps.

The company’s push into Thailand also comes after it was forced to cancel plans for expansion into India amid tariff disputes and efforts to downsize 10% of its staff due to looming recession concerns.

Stiff competition from Chinese players

WHA Group, a Thai industrial estate developer, has indicated that the company and BYD, a Chinese electric vehicle (EV) manufacturer, will soon announce plans for an EV manufacturing facility in Thailand.

In August, Thailand’s Board of Investment (BOI) approved a group of investment pledges, including BYD’s US$491 million (17.9 billion baht) electric vehicle production project.

According to Chinese news outlet Jiemian, BYD plans to begin selling EVs in Thailand later this year, providing local consumers with a greater selection of vehicles to choose from.

Read also Chinese EV manufacturer (BYD) to produce cars in Thailand – Thai News
Follow us: @ThailandBizNews on Twitter | ThailandBusinessNews on Facebook

Information and Source

  • Reporter : Paul Rujopakarn
  • Rewriter : Tarin Angskul
  • National News Bureau : http://thainews.prd.go.th





Source link


Bangkok, Hong Kong – FTSE Russell jointly with The Stock Exchange of Thailand (SET) today announces the result of December 2022 semi-annual review for FTSE SET Index Series as follows:

  • One addition to the constituents of the FTSE SET Large Cap Index
  • Three additions to the FTSE SET Mid Cap Index
  • 18 additions to the FTSE SET Shariah Index

Addition

FTSE SET Large Cap Index
-Asset World Corp pcl (AWC)

FTSE SET Mid Cap Index
-Jasmine Technology Solution pcl (JTS)
-Ramkhamhaeng Hospital pcl (RAM)
-Thai Life Insurance pcl (TLI)

FTSE SET Shariah Index
-Aapico Hitech pcl (AH)
-Banpu Power pcl (BPP)
-ESSO (Thailand) pcl (ESSO)
-Indorama Ventures pcl (IVL)
-Interlink Communication pcl (ILINK)
-Precise Corporation pcl (PCC)
-Ramkhamhaeng Hospital pcl (RAM)
-Ratch Group pcl (RATCH)
-Sermsang Power Corporation pcl (SSP)
-Siam Global House pcl (GLOBAL)
-Sri Trang Gloves (Thailand) pcl (STGT)
-Srithai Superware pcl (SITHAI)
-Synnex (Thailand) pcl (SYNEX)
-Thai Eastern Group Holdings pcl (TEGH)
-Thai Oil pcl (TOP)
-Thai Optical Group pcl (TOG)
-Tropical Canning (Thailand) pcl (TC)
-TTW pcl (TTW)

Deletion

FTSE SET Large Cap Index
-Jasmine Technology Solution pcl (JTS)

FTSE SET Mid Cap Index
-Asset World Corp pcl (AWC)
-BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
-Thailand Future Fund (TFFIF)

FTSE SET Shariah Index
-Carabao Group pcl (CBG)
-IT City pcl (IT)
-JWD InfoLogistics pcl (JWD)
-Loxley pcl (LOXLEY)
-Muramoto Electron (Thailand) pcl (METCO)
-Navanakorn pcl (NNCL)
-Quality Houses Leasehold Property Fund (QHPF)
-Raimon Land pcl (RML)
-Stark Corporation pcl (STARK)
-Thailand Future Fund (TFFIF)

All constituent changes will take effect at the start of business on December
19, 2022 and the next review will take place in June 2023.

FTSE Russell has partnered with The Stock Exchange of Thailand (SET) to jointly create the FTSE SET Index Series for the Thai stock market representing various sizes of companies, sectors and themes. Further information on the FTSE SET Index Series, including all additions and deletions as well as ground rules, is available at https://www.ftserussell.com/products/indices/set and
https://www.set.or.th/en/market/index/ftse-set/profile





Source link


According to a press release from InterNations, Bangkok was ranked as the sixth best city in the world for expats to live and work in 2022.

According to the most recent survey from InterNations, which operates an online site for selling services to expats worldwide, Bangkok is the greatest city in Asia for foreigners to live and work in.

Bangkok ranks second worldwide in the Personal Finance Index. Expats are not only happy with the general cost of living (69% vs. 45% globally), but affordability is also a highlight in the Expat Essentials Index (22nd). Housing is both affordable (70% happy vs. 39% globally) and easy to find (85% vs. 54% globally).

But on the other hand, Bangkok comes 39th in the Quality of Life Index, ranking among the worst destinations worldwide for Safety & Security (45th) and Environment & Climate (48th). Expats are unhappy with the air quality (67% unhappy vs. 19% globally) and the political stability (36% vs. 15% globally).

According to a press statement from InterNations, the survey had 11,970 responses, making Singapore the only other Asian city to place in the top 10.

Valencia, Dubai and Mexico top destinations

Valencia took the top spot. InterNations founder Malte Zeeck was quoted as saying the Spanish city was “a safe place with an excellent climate, a vibrant nightlife and culture, a pleasant urban environment, and great travel opportunities.” At the same time, Valencia was described as “fairly affordable.”

In the survey, Dubai came in second place, and InterNations attributed its appeal to its vibrant social scene, employment opportunities, and innovative corporate culture.

With its third-place finish, Mexico City made its first appearance in the top 10. InterNations claimed the metropolis was easy to settle into and quickly felt like home.

Madrid and Lisbon came in at places four and five, respectively.

Singapore: The Place to Be for Easy Administration, Satisfying Finances & Improved Career Prospects

Singapore ranks third in the Expat Essentials Index and is one of the best-rated destinations for Language (1st), Digital Life (3rd), and Admin Topics (9th). Expats find it very easy to get high-speed internet access at home (97% happy vs. 79% globally) and to pay without cash (97% vs. 84% globally). However, housing is considered unaffordable (71% unhappy vs. 43% globally) and the general cost of living too high (56% vs. 35% globally)

On the other hand, Johannesburg (50th), Frankfurt am Main (49th), and Paris (48th) are the worst destinations in 2022. Expats in Johannesburg are particularly disappointed with the low quality of life and their working life, while Frankfurt and Paris do poorly in the Ease of Settling in and Expat Essentials Indices. Additionally, expats in all three cities struggle financially.

According to InterNations, it has 4.5 million members. They are surveyed every year to determine the best and worst cities worldwide for expats to live and work.





Source link


With the digital nomad visas being introduced and the recently announced incentive packages for foreign investors, Thailand is struggling to welcome foreign investment and talents to the country, in a bid to revive its economy.

One question remains – are the Thais equipped with sufficient English proficiency to embrace the incoming opportunities?

Thailand is ranked 97th overall and second to last among its ASEAN neighbors in an assessment that looks at the average English proficiency in 111 different countries and regions.

While the exact reasons behind Thailand’s low English proficiency remain debatable, experts believe the cultural factors and structural issues in the Thai education system coalesce into the major cause of the upsetting reality.

Lack of Competitivity on the Global Stage

The low level of English proficiency could not only deter foreign investors from setting foot in the country but also prevent Thais from engaging in global participation, which might be hazardous to the country’s development.

In his interview with Royal Coast Review, Loukgolf, a YouTuber known for his attempt to tailor the English learning formula exclusively for the Thais, pointed out that many Thai students are missing out on the chance to access better education abroad with the language barrier being a major hindrance. 

“Thailand will not thrive if Thai people stop learning English. In order to thrive on an international level, we need to encourage more Thais to learn English.”

Kanatip Soonthornrak, also known as Loukgolf, Thai YouTuber

Inequality Widened by Covid-19

In Thailand, English learning is nuanced with the disparities between social classes. The influences were particularly amplified during the pandemic of Covid-19 as students were forced to take classes from home.

While rich kids in Thailand retained affluent access to English learning resources, those less privileged were deprived of their learning approach since school teachers might be their sole channel to learn the language.

A Vital Infrastructure to Welcome Foreign Investment

Thailand needs to realize the benefits of improving its overall English proficiency as the recent recovery in tourism, which accounts for roughly 15% of GDP, is giving the struggling country’s economy a lifeline in the aftermath of the COVID-19 pandemic.

This step is particularly crucial given that international travel is rapidly resuming, and many foreigners see Thailand as a top destination. Now is the right time for the Thai government to refocus its strategy to draw in more foreign investment while the rest of the world struggles to recover from the pandemic.

A sustainable framework needs to be secured, and that includes the language proficiency of the people. Only if general English proficiency improves can Thailand garner more leverage to compete with other countries in the region, including Vietnam and Indonesia.





Source link


Market for Alternative Investment (mai) will list Make to Win Holding pcl, a garment manufacturer and distributor which invests in a flagship subsidiary Deco Green Energy Co., Ltd.

The manufacturer and distributor of electric motorcycles under DECO trademark, will be listed on Dec 6 under the ticker symbol “MTW”. The company has a market capitalization at its initial public offering (IPO) of THB 970.56 million (approx. USD 27.24 million).

mai President Prapan Charoenprawatt said MTW will be listed and start trading on mai in the Industrials industry group.

Producing and distributing electric motorcycles

MTW manufactures and distributes clothes under its own brands, and provides an original equipment manufacturer (OEM) service. The company holds an 85 percent
stake in its subsidiary Deco Green Energy engaged in producing and distributing
electric motorcycles.

MTW’s plant is located in Sam Phran district, Nakhon Pathom province, with the annual production capacity of 1.8 million pieces of clothes and 11,500 units of electric motorcycles.

In 2021, electric motorcycle and garment businesses represented 58 percent and 42 percent of the group’s total revenue, respectively. Ratio of its clothes sold through factory to wholesalers and shops stood at 75:25, while authorized dealers are the main distribution channel of electric motorcycles.

As of September 2022, the company had 96 dealers across all regions of Thailand including Chiang Mai, Buriram, Chonburi, Samut Sakhon, Nonthaburi, Ayutthaya,
Phuket, Samut Prakarn, and Khon Kaen provinces.

Deco Green Energy has participated in the government’s scheme so-called “EV package” under which the government subsidizes THB 18,000 per unit of motorcycles until December 31, 2025.

Read More





Source link