Bangkok Post (Bangkok, Thailand) articles from December 2001

Bangkok Post (Bangkok, Thailand) archives from December 2001

Despite Economic Slump, Thailand Retains Some Pluses.
December 1, 2001... Byline: Prapin Lalitpat Dec. 1--Thailand retains some advantages over other countries despite its economic woes, according to Chainarong Indharameesup, the chairman of Boyden Thailand, an executive search firm. "On the negative side,...

Thai Currency, Stock Markets Make More Gains.
December 1, 2001... Dec. 1--The currency and stock markets yesterday both extended week-long gains credited to a pickup in foreign investment in Thai shares and speculation ahead of next week's start of trade for PTT Plc. The baht yesterday broke through 44...

Burma Economy Near Collapse; Acute Lack of Investment.
December 1, 2001... Byline: Larry Jagan Dec. 1--A rare report on Burma's economy suggests it is on the verge of collapse. The Asia Development Bank in its latest report says the cash-strapped military government is unable to provide essential services or...

Aviation Fuel Services in Thailand Willing to Bow Out of Contest for Contract.
December 1, 2001... Byline: Charoen Kittikanya Dec. 1--Bangkok Aviation Fuel Services (Bafs) is poised to back down from a contest for a contract to construct aviation fuel storage facilities worth 2.1 billion baht at Suvarnabhumi international airport. ...

Six-Country Export Rice Pool Planned, Say Thailand Officials.
December 1, 2001... Dec. 1--A global rice pool among six major exporting countries is on the verge of becoming reality, but Thai officials say it will not be an Opec-like price-setting cartel. The proposed pool would contain six countries that account for 70...

Soon-to-Be WTO Official Warns Conflicts May `Marginalise' Regional Bloc.
December 1, 2001... Byline: Cholada Ingsrisawang Dec. 1--The Asean Free Trade Area (Afta) faced the threat of being marginalised in the global arena as internal conflicts and infighting undermined the potential of the regional bloc, Supachai Panitchpakdi...

Bangkok Airways to Open Airport in Trat.
December 3, 2001... Byline: Nondhanada Intarakomalyasut Dec. 3--Bangkok Airways plans to open a new airport in Trat by November next year as part of moves to create a routing network in southern Thailand, linking up with its airport hub on Samui island. ...

Switch to Organic Fertilizers Boosts Incomes in Thailand's Surin Province.
December 3, 2001... Byline: Chatrudee Theparat Dec. 3--By switching to organic methods, farmers in Surin are likely to increase their combined incomes by 50 million baht a year. Giving the estimate, Kittipat Rungthanakiart said that Surin's Provincial...

Bangkok Post, Thailand, Guest Column.
December 3, 2001... Byline: Mark Heine Dec. 3--The economic environment is very challenging indeed, both domestically and globally. Many sectors have been hit hard by the global economic downturn. Even the sectors which were performing well and boosting...

Asia-Pacific Hotel Sector Is Recovering.
December 3, 2001... Dec. 3--While hotel markets worldwide have undoubtedly been adversely affected by the Sept 11 attacks, there is underlying strength in the sector, says Jones Lang LaSalle Hotels, a global hotel investment services group. The challenging...

Thailand's One-Price Stores Confident of Long-Term Edge over Street Vendors.
December 3, 2001... Byline: Natalie Suwanprakorn Dec. 3--When it comes to low-cost merchandise, street stalls are a force to reckon with. Competing with the traditional retailers, Bangkok's first branded one-price stores are finding that running...

Thailand's Metrology Institute to Set First Standardised Measurement System.
December 3, 2001... Byline: Charoen Kittikanya Dec. 3--With exporters of high precision industrial products under pressure to meet international benchmarks, the setting of national measurement standards is moving a step closer. The National Institute of...

Bangkok Post, Thailand, Travel Column.
December 3, 2001... Byline: Imtiaz Muqbil Dec. 3--Facing a major cash crunch in getting regional transport infrastructure projects moving again, Asia-Pacific governments will have to clean out the bottlenecks and inefficiencies keeping out private investment...

Bangkok Post, Thailand, Philip Adams Column.
December 4, 2001... Byline: Philip Adams Dec. 4--The role of the audit committee is to assist the board and management to meet the financial control and reporting expectations of all stakeholders of a company. However, many audit committee members face...

Bangkok Post, Thailand, Business Briefs Column.
December 4, 2001... Dec. 4--ENTERTAINMENT ON NOKIA PHONES: Nokia has established a new unit, Nokia World, to provide a wider range of services on its mobile phones, including animated screen servers, games and other entertainment. Krissanan Ngampatipong, the...

Bangkok Post, Thailand, Insider Column.
December 4, 2001... Dec. 4--COMIC RELIEF FOR LAZY LEARNERS: We've noted in this space before the difficulty of encouraging people to read anything if it isn't in the form of a Japanese comic-book or a get-rich-quick, self-improvement book that states the...

Co-Operative Shop Is Rural Trail-Blazer in Thailand.
December 4, 2001... Byline: Smarn Sudto Dec. 4--Professional marketing advice has helped residents of a community in Si Sa Ket province establish SP Minimart, the country's first co-operative shop at tambon level. The shop initially opened in 1997 in...

Bangkok Post, Thailand, Company Reports Column.
December 4, 2001... Dec. 4--BEC World said it had agreed to roll over loans worth 19.5m bt extended to its subsidiary, BEC-Tero Entertainment Co, for another year, with repayment due in December next year, at 4.25 percent annual interest. --Brooker Group said...

Thailand Developer Faces Loss As Assets Depreciate.
December 4, 2001... Byline: Krissana Parnsoonthorn Dec. 4--Listed developer Sansiri Plc says it will post a loss this year mainly due to the depreciation of assets transferred to repay debts at BankThai. Wanchak Buranasiri, Sansiri's director for business...

Thai Cement Group's Distribution Unit Urges e-Payments.
December 4, 2001... Byline: Darana Chudasri Dec. 4--Cementhai Distribution Co, the distribution arm of Siam Cement Group, is urging its dealers nationwide to join an e-payment system over the next two years, according to the company's president Dusit...

Costs Rise Amid Fibre-Optic Network Delays in Thailand.
December 4, 2001... Byline: Kanchana Pleumjit Dec. 4--Construction of the 7.6-billion-baht national high-speed fibre-optic network has made little headway, with just 7 percent of the work done and the completion deadline only 11 months away. The delay...

Sharing Benefits Seen As Essential to Intellectual Property Rights in Thailand.
December 4, 2001... Dec. 4--Only a few decades ago, plants and animals in remote countries were curiosities of interest to botanists, zoologists and tourists. Aside from that, only a few specialists, for example herbalists, saw real business potential for many...

Thai Pure-Oil Company Gears Up for Expansion at Home, Abroad.
December 4, 2001... Byline: Somporn Thapanachai Dec. 4--Good teamwork oils the wheels of business; family firms cannot thrive without it. And if everyone is working toward a common goal, there are no limits, as proven by the maker of Siang Pure Oil. Owned...

Bangkok Post, Thailand, Tax Corner Column.
December 4, 2001... Byline: By Dec. 4--You will be surprised to learn that the Revenue Department has given a green light for you to deduct any losses that are incurred from lending funds to your subsidiary, without following the bad debt regulations, if you...

Thai Finance Official Tells Telecommunication Duo to Hurry Up, Go Public.
December 4, 2001... Dec. 4--The country's two state telecommunications agencies should seize the momentum created by the privatisation of PTT Plc and list on the stock market by March, Finance Minister Somkid Jatusripitak said yesterday. He said the time was...

Thailand to Increase Minimum Daily Wage in 11 Provinces.
December 4, 2001... Byline: Cholada Ingsrisawang Dec. 4--The National Wage Committee is preparing to approve rises ranging from two to seven baht a day in the minimum wages paid in 11 provinces. Provincial panels for another 56 provinces, including...

Poor Countries Face Threat of Trade-Offs, Says Organisation Official.
December 4, 2001... Byline: Dinesh Sharma Dec. 4--Developing countries must prepare for trade-offs that they are inevitably bound to make or receive during the new round of multilateral trade negotiations, according to Dr Supachai Panitchpakdi, the...

Italian-Thai Development Plc to Hold Vote on Debt Restructuring.
December 5, 2001... Byline: Charoen Kittikanya Dec. 5--Italian-Thai Development Plc is moving ahead with its plan to restructure its 20 billion baht in debts and has scheduled a creditors' vote for Dec 24. ITD Planner Co, the company's planner, had...

Bangkok Post, Thailand, Net Worth Column.
December 5, 2001... Byline: Andrew Leppard Dec. 5--Sometimes it pays for expats to stop and reflect on how fortunate we all are working "offshore", while our cousins back home face the unfortunate and depressing symptoms of the winter doldrums. Cold weather,...

New Proposal Aims to Sort Out Conversions by Thai Telecommunications Operators.
December 5, 2001... Byline: Mongkol Jullayothin Dec. 5--Telecommunications operators that convert their concessions with state agencies would no longer have to pay compensation, under the latest proposal intended to speed up the stalled conversion process. ...

Thai Travel Agents Won't Bear Cost of Airline Fare Hike.
December 5, 2001... Dec. 5--Travel agents who had pre-sold domestic flights before Thai Airways International raised fares by 20 percent would not have to bear the increased cost, the airline said yesterday. The national carrier raised domestic fares across...

Deficit in Thailand Set to Fall in 2003.
December 6, 2001... Byline: Wichit Sirithaveeporn Dec. 6--Early planning for the fiscal 2003 budget allows for a smaller deficit than in the current year, based on assumptions that existing stimulus programmes will lead to a recovery next year. The...

Star-Gazers See Better Times Ahead for Thailand Economy Despite Some Pitfalls.
December 6, 2001... Byline: Suphaphan Plengmaneepun Dec. 6--If you believe in the stars, there's good news: the Thai economy will start picking up in the second half of next year. For people who are not astrologers, it might be very difficult to...

Thai Asset Management Corp. Gets Third Round of Non-Performing Loan Transfers.
December 6, 2001... Dec. 6--Third-round transfers of remaining non-performing loans to Thai Asset Management Corp took place on Nov 30. Based on Dec 31 last year, financial institutions and asset management companies of both the private sector and state...

Star Cruises to Make Thai Port a Regional Hub.
December 6, 2001... Byline: Srisamorn Phoosuphanusorn Dec. 6--Star Cruises of Singapore plans to make its 675-million-baht terminal at Laem Chabang deep-sea port the best fly-cruise operation in the world and a regional hub for holiday ships. The world's...

Lower Interest Rates on the Way for Thailand Banks.
December 6, 2001... Dec. 6--Depositors steel yourselves -- another round of interest rate cuts is on the way. After months of relative stability, Siam Commercial Bank last week led the trend by announcing a one-quarter percentage point cut for its key deposit...

Thailand Multi-Million Baht Recyclable Material Firm Began with Everyday Junk.
December 6, 2001... Byline: Charoen Kittikanya Dec. 6--Many people throw money away without thinking twice, says a former small-time scrap collector who turned everyday junk into the launch-pad for a multi-million baht enterprise. After completing...

Bangkok Post, Thailand, Nikhil B. Srinivasan Column.
December 6, 2001... Byline: Nikhil B. Srinivasan Dec. 6--With PTT listing today and a healthier market than we have had in months, it is worth pausing for a moment (maybe just a moment) to consider the availability of information on the securities being traded...

Losses, Damages Compound Due to Failed Bangkok, Thailand, Bank of Commerce.
December 7, 2001... Byline: Cholada Ingsrisawang Dec. 7--Even as the Bank of Thailand last week formally concluded that no wrongdoing was committed by regulators in the oversight of the Bangkok Bank of Commerce, the losses and damages arising from the failed...

Bangkok Post, Thailand, Business Briefs Column.
December 7, 2001... Dec. 7--AEON SHARES START TRADING ON TUESDAY: Shares of Aeon Thana Sinsap (Thailand) will begin trading on the Stock Exchange of Thailand on Tuesday, making it the sixth new company to list on the market this year. The consumer finance...

Bangkok Post, Thailand, Insider Column.
December 7, 2001... Dec. 7--BUSINESS BY THE BOOK? WHO KNOWS? Think back... way, way back to the last century... say, December 1999. Can you recall the giddy titles of the business best-sellers of the day? Think of The Roaring 2000s Investor or Dow 36,000....

Luxury Car Distributor's Sales Buoyant As the Wealthy Shrug Off Recession.
December 7, 2001... Dec. 7--For the wealthy, there is no recession if sales of luxury cars are an indication. While 10 million people each live on less than 900 baht a month, according to World Bank figures, there are thousands who think nothing of paying 10...

New Venture to Revive Condominium Site in Thailand.
December 7, 2001... Byline: Krissana Parnsoonthorn Dec. 7--A consortium led by Univentures Plc yesterday signed a deal to inject 320 million baht in equity to revive the Watercliff Condominium project, where construction had been suspended since the economic...

Role of Thailand Politicians Is in Question.
December 7, 2001... Dec. 7--Is Rerngchai Marakanond a technocrat who overstepped his authority, caused state losses and should now take responsibility under the law? Or is the former central bank governor an unfortunate scapegoat paying the price for the...

Government Housing Bank in Thailand Thrives on Attractive Home-Loan Plan.
December 7, 2001... Dec. 7--The Government Housing Bank's share of the home-loan market is increasing on the back of a programme to extend fixed-interest loans to the public and allow civil servants and state enterprise employees to borrow 100 percent of the...

Bangkok Post, Thailand, Arnat Leemakdej Column.
December 7, 2001... Byline: Arnat Leemakdej Dec. 7--Funding e-government programmes, as we began discussing last week, is something that governments cannot do alone. They need to join with vendors who have expertise in information technology. Based on the...

Bangkok Post, Thailand, Kriengsak Niratpattanasai Column.
December 7, 2001... Byline: Kriengsak Niratpattanasai Dec. 7--A reader told me recently that she had kept several of my articles on file, and sometimes shared them with her subordinates. One of her subordinates read one piece and said: "Oh, I just learned so...

PTT Plc Shares Fuel Massive Turnover.
December 7, 2001... Byline: Krissana Parnsoonthorn Dec. 7--Shares of PTT Plc dominated the market yesterday on their first day of trade, rising 2.14 percent in price and helping push market turnover to an 11-month high. PTT opened at 38 baht, three baht...

CP Seven Eleven Plc to Make Franchise Offers to Shops in Thailand.
December 7, 2001... Dec. 7--Owners of traditional family grocery shops will be invited to apply for franchises to operate 7-Eleven convenience stores. CP Seven Eleven Plc planned to open 200 more outlets next year by licensing investors to operate the shops,...

Bangkok Post, Thailand, Business Briefs Column.
December 8, 2001... Dec. 8--EXCISE COLLECTIONS B5BN ABOVE TARGET: The Excise Department collected taxes totalling 33.9 billion baht in October and November, five billion baht above its target for the first two months of the fiscal year. Revenue was also 7.4...

Natural-Gas Operations Fuel Thai Company's Profit.
December 8, 2001... Byline: Yuthana Praiwan Dec. 8--The natural gas operations of PTT Exploration and Production Plc were the main contributor to the 18.66 billion baht in net profit earned by PTT Plc in the first nine months of this year, the company said...

Thai Yamaha Revs Up for Comeback.
December 8, 2001... Byline: Santan Santivimolnat Dec. 8--Thai Yamaha Motor Co says it is gearing up to be a stronger competitor in the motorcycle market and recover the share it had lost to its rivals. The company, formerly Siam Yamaha, has the backing of...

Bangkok, Thailand, Contractor May Have Second Chance at Development Project.
December 10, 2001... Byline: Wichit Sirithaveeporn Dec. 10--Bangkok Terminal Co, formerly Sun Estate Co, could be given another chance to revive the long-delayed Mor Chit development project under a new proposal by the Finance Ministry. Visut Montriwat,...

Business Backing, Modern Production Systems Boost Country Fare in Thailand.
December 10, 2001... Byline: Bamrung Amnatcharoenrit Dec. 10--A convoy of 20 trucks carrying equipment chugs along a dusty village road. An excited group of bare-chested boys on bicycles gives chase. In a clearing they see people busily arranging light and...

Resource Group Seeks Partners for Ethanol Plants in Thailand.
December 10, 2001... Byline: Charoen Kittikanya Dec. 10--Encouraged by the government's commitment to promote crop-based ethanol, the Masada Resource Group is seeking local partners to build waste recycling and ethanol production plants in Thailand. ...

Thailand Store Thrives after Changing Its Name, Targetting Retail Market.
December 10, 2001... Byline: Busrin Treerapongpichit Dec. 10--A home hardware and furnishing store was the answer when a major supplier of building materials in the Northeast looked for ways to turn around its business. The Ubonsirimahachai Group, the...

Rivals Unfazed by Thailand Mobile Phone Service Provider.
December 10, 2001... Byline: Mongkol Jullayothin Dec. 10--With CP Orange poised to launch its mobile phone service this month, established rivals are shrugging off the challenge, claiming their network quality can resist inroads by the newcomer. Advanced...

Bangkok Post, Thailand, Travel Column.
December 10, 2001... Byline: Imtiaz Muqbil Dec. 10--The promotion of Buddhist tourism in Asia has been given a major lift with the conclusion of a major seminar designed to bring together the regional countries which share this common heritage. But the...

Acting President of Thai Airways Says Business Situation Improving.
December 11, 2001... Dec. 11--The number of industries pleading for state support because of the economic downturn after the Sept 11 events seems endless. While the link between the Afghan conflict and rice farmers and textile manufacturers might seem tenuous,...

Bangkok Post, Thailand, Insider Column.
December 11, 2001... Dec. 11--VIRTUAL SHOPPING SOLUTIONS: Asked to choose, some of you would probably prefer being boiled in oil, or perhaps a night out with the Yubamrung brothers, to holiday gift shopping. The crowds and the shopping-mall jingles are the...

Exports Fuel Expansion for Thai Carbon-Black Producer.
December 11, 2001... Byline: Srisamorn Phoosuphanusorn Dec. 11--While other companies lay off workers and cut production to ride out the slump, Thai Carbon Black Plc believes expansion is the best way to respond. Expansion would have beneficial effects in...

Special Packages, Training Offered by Thai Firms Soften Impact of Downsizing.
December 11, 2001... Dec. 11--Early retirement programmes are certainly not new in Thailand. For that, credit the labour laws, which offer relatively strong protection for employees from imposed layoffs or firings. The law has led many companies seeking to...

Bangkok Post, Thailand, Guest Column.
December 11, 2001... Dec. 11--At a recent meeting, the CEO of a listed company tossed the company's strategic business plan on the table and asked us a simple question: does this plan create or destroy shareholder value? This CEO is not alone. He was asking a...

Thailand Life Insurance Firm Modernises to Retain Slot in Top Five.
December 11, 2001... Byline: Walailak Keeratipipatpong Dec. 11--In the insurance industry, the number five has a special magic. All new insurers say they want to be among the top five in their industry within five years of opening their doors. Muang Thai...

Bangkok Post, Thailand, PricewaterhouseCoopers Column.
December 11, 2001... Byline: Richard G. Moore Dec. 11--Is business in Thailand prepared to review and revise long established boardroom and management practices that are not seen as reflecting good governance? Are we still going to be challenging or...

More Thai Petrol Stations Turn Into One-Stop Shopping Centres.
December 11, 2001... Byline: Boonsong Kositchotethana Dec. 11--Petrol stations used to be a place where you topped up your tank and maybe found a soft drink and some sweets to appease tired children -- if you were lucky. Not any more; they have become almost...

Thailand Shrimp Shipments Up but Prices May Weaken.
December 11, 2001... Byline: Woranuj Maneerungsee Dec. 11--Amid the gloom surrounding Thailand's export prospects for next year, one product stands out: shrimps. Shipments are projected at 110.5 billion baht, 10 percent more than the 100.5 billion baht...

Thai Food Company's Prawn Soup Offers Instant Tastebud Teaser.
December 11, 2001... Dec. 11--You can buy instant soups of many kinds, so why not tomyam koong, the traditional spicy prawn variety? With that thought in mind, Siam Preserved Foods Co embarked on several years of trials before coming up with a product that...

Bangkok Post, Thailand, Insider Column.
December 12, 2001... Dec. 12--LEAN BONUS SEASON AWAITS WALL STREET: There are many people in the New York financial community who are simply thankful to be alive as they contemplate events of the last three months, not to mention the losses of friends and...

Thailand's Samurai Bonds Rated BBB- from Standard, Poor's.
December 12, 2001... Dec. 12--Thailand's new 35-billion-yen Samurai bond issue has received a rating of BBB- from Standard and Poor's with a stable outlook. Fitch also said yesterday that it was rating the yen-denominated bonds BBB-, with a stable outlook....

Thailand's Largest Direct-Seller Expects Slower Growth.
December 12, 2001... Byline: Nondhanada Intarakomalyasut Dec. 12--Amway (Thailand), the country's largest direct-seller, expects a sharp slowdown in sales growth in its operating year to next August, citing the economic downturn worsened by the events of Sept...

Joint Parliamentary Committee in Thailand Remains Split on Interest Rate Issue.
December 12, 2001... Byline: Darana Chudasri Dec. 12--Members of a joint parliamentary screening committee reviewing a new draft law for the financial sector yesterday remained polarised over the proposal to cap interest rate spreads. The Senate in October...

Bangkok Post, Thailand, Net Worth Column.
December 12, 2001... Byline: Andrew Leppard Dec. 12--As the countdown to Christmas gains momentum, many expats' thoughts will be focused on other matters than work, namely: family left behind, distant friends and "home sweet home". For some of us who are...

Provincial Governors in Thailand Could Rule on Zoning Retail Businesses.
December 12, 2001... Byline: Phusadee Arunmas Dec. 12--Provincial governors will be given the power to zone retail businesses under the draft retail business law, according to Commerce Minister Adisai Bodharamik. Each governor would likely be appointed to...

Listless Thai Market Fails to Rouse Investor Activity.
December 12, 2001... Byline: Krissana Parnsoonthorn Dec. 12--Thai stock prices shed 3.02 percent yesterday as PTT Plc and the new listing of Aeon Thana Sinsap (Thailand) could not drive up the market. The Stock Exchange of Thailand's prime index closed at...

Hefty Tax Breaks to Lure Companies to Thailand.
December 12, 2001... Dec. 12--For many months, the government has come under fire overseas for its uncertain policy on foreign investors. Its response yesterday was to announce wide-ranging tax breaks and incentives aimed at attracting foreign firms to...

French Giant a Player in Auto Breakdown Services in Thailand.
December 13, 2001... Byline: Santan Santivimolnat Dec. 13--Mondial Assistance, the world's largest motoring assistance and travel insurance group, has entered Thailand by taking a controlling stake in Auto Assist Co, a provider of emergency breakdown and...

Bangkok Post, Thailand, Insider Column.
December 13, 2001... Dec. 13--NO LOSERS OR WINNERS IN THE BRAVE NEW GAME: `Is it me, or has the world gone stark, staring mad, led by the Brits?" a colleague asked as he reflected on a dispatch from the front lines of sport. In Britain, it appears, it is not...

Thailand Stock Exchange Sets Floor Rate on Commissions of 0.25 Percent.
December 13, 2001... Byline: Krissana Parnsoonthorn Dec. 13--The Stock Exchange of Thailand has stepped in to solve the problem of shrinking brokerage commissions by setting a floor rate of 0.25 percent for both retail and institutional investors, expected to...

Independent Overseer of Thailand Insurance Department May Improve Efficiency.
December 13, 2001... Dec. 13--Holders of insurance policies will notice little impact when the Insurance Department is transformed into an independent regulatory body next year. Their regular habits will remain unchanged: paying premiums for insurance coverage...

Thai Commerce Agency Unit May Handle Fee Distribution for Music Copyrights.
December 13, 2001... Byline: Bamrung Amnatcharoenrit Dec. 13--The Intellectual Property Department should take up a role of distributing money collected from music users to recording firms in a bid to end the dispute over copyright fee collection, Deputy...

OPINION: Thai Employers Should Beware of Terminations.
December 13, 2001... Byline: Michael Doyle Dec. 13--Year-end is a time when many companies assess employee performance and make difficult decisions concerning staff to be laid-off or otherwise terminated. Thai law prescribes a number of legal obligations to...

PTT Plc Shares Reach Initial Public Offering Price.
December 13, 2001... Dec. 13--Shares of PTT Plc yesterday climbed back to its initial public offering price of 35 baht each after underwriters purchased shares in the market using a four-billion-baht fund set up under the "greenshoe" option. PTT shares reached...

Bangkok Post, Thailand, Nikhil B. Srinivasan Column.
December 13, 2001... Byline: Nikhil B. Srinivasan Dec. 13--In recent months, there have been regular talks and seminars on topics ranging from New Export Markets to What is Thailand's Competitive Advantage? These debates all centre on the one important...