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A Singaporean's guide to living in Thailand
- Thread starter Leongsam
- Start date
Thanks boss, those were just normal snaps no HDR processing. I tend to take HDR pictures typically at night out in the open as lighting is bad in those areas like my gardens by the bay shots.
sathorn dry mee with those dry dumplings
I must be fucking crazy to go back to amphawa. Maeklong market still closed.
She's from mudland
i think these girls look the best hawkers at amphawa market
Another one that looks ok
here's the girl again at night
this was for dinner 50 bht crabs
victory monument
I must be fucking crazy to go back to amphawa. Maeklong market still closed.
She's from mudland
i think these girls look the best hawkers at amphawa market
Another one that looks ok
here's the girl again at night
this was for dinner 50 bht crabs
victory monument
here's the girl again at night
this was for dinner 50 bht crabs
She does look pretty, but did you chat up with her?
the 50 baht crabs look nice, but i stay away from any food that is displayed already cooked... dunno how long the food was cooked and then left to sell... esp the big prawns and crabs etc... dun wanna lao sai after eating these...
thanks froggy, wasn't really that interesting to look at the 2nd time
Nope didn't she's busy cooking and she doesn't speak english. The fsh had run out and i needed to rush home so chose the crabs.
ferry to khaosan road
boat ride was fast and bumpy with many passengers and on top of that dusk was settling. Not too many good shots
that huge field next to emerald temple
Don't know what fucking hindu statue this is. Some woman with long hair
Khaosan road at night. It's harder to take clear, good shots at night.
chicken salad
egg omelette
boat ride was fast and bumpy with many passengers and on top of that dusk was settling. Not too many good shots
that huge field next to emerald temple
Don't know what fucking hindu statue this is. Some woman with long hair
Khaosan road at night. It's harder to take clear, good shots at night.
chicken salad
egg omelette
Re: A Singaporean's guide to living in Thailand ? Feasible?
November exports down 7.42%
The export decline brought shipments from January to November this year to US$197.27 billion, down 5.51% compared to the same period last year, said Somkiat Trirattanaphan, director of the ministry's Trade Policy and Strategy Office.
In November, exports totalled $17.17 billion while imports stood at $16.87 billion, resulting a trade surplus of $299 million.
"The declines were largely due to external factors. The world economy and those of our trade partners slowed down," he said.
Key trade partners imported less from Thailand in the first 10 months of this year. At 20.8%, Japan led the contractions, followed by China (-19.2%), France (-16.8%), South Korea (-16.6%), United Kingdom (-9.6%) and the United States (-4.3%).
World crude prices continued to slump, by 47.2% in the first 11 months, affecting exports of oil-related products such as refined oil, chemicals and plastic pellets, Mr Somkiat said.
World farm prices also dipped during the period, with rice falling 10.6%, rubber (-20.2%) and sugar (-7.5%).
"Even though we shipped in comparable quantities, the value fell," he said.
Currency depreciation of Thailand's trade partners was also to blame, he added. The Thai baht depreciated by 9.5%, compared to the euro (-10.4%), Australian dollar (-12.3%) and Malaysian ringgit (-22.9%).
"This made Thai products less competitive compared to those of our competitors and trade partners.
A breakdown of November imports showed automotive parts continued to grow, by 23.5%, while oil-related products shrank 38.3% and raw/semi-finished materials fell 10.2% respectively.
"The shrinking imports are the result of declining shipments, especially crude, refined oil, natural gas, petroleum products, steel, and steel products.
In any case, Thailand's export contraction rates were relative low compared to 10% on average of other countries. "We did well, all things considered," he concluded.
November exports down 7.42%
- Bangkok Post Published: 28/12/2015 at 03:03 PM
The export decline brought shipments from January to November this year to US$197.27 billion, down 5.51% compared to the same period last year, said Somkiat Trirattanaphan, director of the ministry's Trade Policy and Strategy Office.
In November, exports totalled $17.17 billion while imports stood at $16.87 billion, resulting a trade surplus of $299 million.
"The declines were largely due to external factors. The world economy and those of our trade partners slowed down," he said.
Key trade partners imported less from Thailand in the first 10 months of this year. At 20.8%, Japan led the contractions, followed by China (-19.2%), France (-16.8%), South Korea (-16.6%), United Kingdom (-9.6%) and the United States (-4.3%).
World crude prices continued to slump, by 47.2% in the first 11 months, affecting exports of oil-related products such as refined oil, chemicals and plastic pellets, Mr Somkiat said.
World farm prices also dipped during the period, with rice falling 10.6%, rubber (-20.2%) and sugar (-7.5%).
"Even though we shipped in comparable quantities, the value fell," he said.
Currency depreciation of Thailand's trade partners was also to blame, he added. The Thai baht depreciated by 9.5%, compared to the euro (-10.4%), Australian dollar (-12.3%) and Malaysian ringgit (-22.9%).
"This made Thai products less competitive compared to those of our competitors and trade partners.
A breakdown of November imports showed automotive parts continued to grow, by 23.5%, while oil-related products shrank 38.3% and raw/semi-finished materials fell 10.2% respectively.
"The shrinking imports are the result of declining shipments, especially crude, refined oil, natural gas, petroleum products, steel, and steel products.
In any case, Thailand's export contraction rates were relative low compared to 10% on average of other countries. "We did well, all things considered," he concluded.
| 2015 trade statistics | ||||
| November | January-November | |||
| Value (US$ million) | Growth (%) | Value (US$ million) | Growth (%) | |
| Trade value | 34,035 | -8.48 | 384,316 | -8.35 |
| Exports | 17,167 | -7.42 | 197,275 | -5.51 |
| Imports | 16,868 | -9.53 | 187,041 | -11.16 |
| Trade balance | 299 | 10,234 | ||
| Source: Commerce Ministry |
Re: A Singaporean's guide to living in Thailand ? Feasible?
foodland at silom
black pagoda day time
patpong area
sarica jap restaurant
pork with curry
at the pier
wat arun
wat arun with gay lighting
fish with rice
tom yam soup
at makkasan
at 1000zen near narathiwas soi 7
sliced chicken with noodles
meat balls
near soi 3 sukhumvit
soi arab
inside this soi is a restuarant where my moniker comes from Ethiophia. There were a few africans and they started staring at me and asked me you come from korea? Felt uncomfortable. Apparently very few non africans even go into soi 3.
Didn't enter the restaurant just looked at the entrance.
foodland at silom
black pagoda day time
patpong area
sarica jap restaurant
pork with curry
at the pier
wat arun
wat arun with gay lighting
fish with rice
tom yam soup
at makkasan
at 1000zen near narathiwas soi 7
sliced chicken with noodles
meat balls
near soi 3 sukhumvit
soi arab
inside this soi is a restuarant where my moniker comes from Ethiophia. There were a few africans and they started staring at me and asked me you come from korea? Felt uncomfortable. Apparently very few non africans even go into soi 3.
Didn't enter the restaurant just looked at the entrance.
Re: A Singaporean's guide to living in Thailand ? Feasible?
Jamban Jah, this pic you took randomly? Because I know the couple in the pic.
Jamban Jah, this pic you took randomly? Because I know the couple in the pic.
Re: A Singaporean's guide to living in Thailand ? Feasible?
2015 in review
2015 IN BUSINESS
Aviation sector leads nosedive
Broadcasting, energy, fisheries, exports, agriculture, steel and the baht all have a year to forget
Safety concerns hit industry's credibility
The failure to fix aviation safety oversights identified by two global industry auditors qualifies the sector as one of the main losers for Thailand in 2015.
The year was a miserable one for the Thai aviation industry as the International Civil Aviation Organization (ICAO) gave Thailand a red flag for its safety shortcomings in June, followed by a Dec 1 safety rating downgrade by the US Federal Aviation Administration (FAA).
The international image of Thai aviation has been soiled, while the credibility of Thai-registered carriers has been tarnished.
The downgrade effectively clipped the wings of Thai-registered airlines from expanding their flight operations, casting an uncertain future for growth.
No new airlines have been allowed to set up, as Thai authorities suspended new licences until the debacle surrounding the aviation safety lapse can be sorted.
The lapse focused on the failure of the now-defunct Department of Civil Aviation (DCA) to improve air safety management and inspection systems within deadlines after serious flaws and shortcomings in its operations were discovered in separate audits.
While the deficiency was the responsibility of the DCA, the public may not distinguish between regulatory oversight and the safety of the airlines or Thai airports themselves.
"What happened in Thailand was a shock, because it has a huge travel and tourism sector, a huge aviation history, and yet it was caught out because of insufficient resources," said Andrew Herdman, director-general of the Association of Asia-Pacific Airlines.
The impact of ICAO's red flag and the FAA's downgrade to Category 2 is largely similar, meaning Thai-registered airlines are not allowed to open up new routes, or increase the frequencies of existing flights to foreign countries, or change aeroplane types already deployed on current service.
But the application of ICAO's verdict is not strictly binding, depending on the judgement of each country.
A number of countries -- including Japan, South Korea, Indonesia and, to a limited extent, China -- have enforced ICAO
restrictions on Thai-registered airlines' flights to their air space as guided by the UN body.
Thai Airways International (THAI) was the only Thai airline operating to the US, but it terminated its sole service to Los Angeles in October as part of its latest restructuring, meaning the FAA downgrade had no effect. The European market posed a much more serious risk, but the European Commission (EC) did not put a blanket downgrade on the Thai aviation sector or any particular Thai-registered carriers, which would have meant their flights to Europe would either be restricted or even banned.
The EC's Air Safety List was released on Dec 10.
As a result, THAI, the only airline operating scheduled flights to the continent, can continue its service to 11 destinations in Europe, the backbone of its market and which constitutes a third of its annual turnover.
But Thai authorities, namely the Civil Aviation Authority of Thailand, a statutory body replacing the DCA, are still struggling to fix the ICAO-FAA issues.
They hope to be able to remove the red flag next year. Against the backdrop of turbulence the Thai aviation industry faced in 2015, the flag carrier stood out as the biggest loser.
THAI's rehabilitation did not produce the results president Charamporn Jotikasthira vowed.
It suffered an aggregate nine-month net loss of 18.1 billion baht, raising concerns the 55-year-old airline's losses for 2015 could exceed the record of 21.3 billion posted in 2008.
Digital TV beset by unclear signals
The digital TV sector, once a rising star attracting much attention among investors last year, found itself inundated with problems this year, with one broadcaster throwing in the towel. The transition to digital TV has not been as smooth as the regulator thought it would be, and broadcasters are facing financial difficulties and unclear regulations.
The industry outlook is not bright after the collapse of Thai TV Co, led by Pantipa Sakulchai, and some are worried other broadcasters will suffer the same fate in the coming years.
The cash-strapped company could not find a strategic partner to shore up its operations. It faced losses of more than 300 million baht running two digital TV channels -- Loca children's channel and Thai TV news.
Thai TV sent a clear signal it was unlikely to operate the two channels when it failed to pay the second instalment of auction fees totalling 288 million baht in June. In fact, it wanted to return the two licences, but the National Broadcasting and Telecommunications Commission (NBTC) said it could do so only if it paid the remaining 1.6 billion baht in auction fees.
Thai TV's case is still pending, and the NBTC will pressure the company to pay the remaining auction fees and seize the two licences. On the other hand, the company filed a lawsuit against the NBTC, blaming the regulator for failing to facilitate a smooth transition to digital.
This resulted in its poor performance and failure, the company said. Analysts said the advent of digital TV took place when the economy was sluggish, while ad spending did not shift from analogue to digital TV as many people expected.
Digital TV is a capital-intensive business and takes a longer period to break even. The success of each channel relies mostly on TV viewership ratings and advertising revenue, according to analysts.
To solve the Thai TV deadlock, Somkiat Tangkitvanich, president of the Thailand Development Research Institute, suggested the NBTC amend the Frequency Allocation Act to allow cash-strapped digital TV channel operators to sell their permits to new players. But Col Natee Sukonrat, chairman of the NBTC's broadcasting committee, said such a move was not necessary, as the Act allowed broadcasters to adjust their shareholder structure. Apart from Thai TV, the regulator is busy dealing with disputes with a number of broadcasters.
Seven digital TV channels -- Bright TV, GMM, One, Thairath TV, PPTV, Nation TV and Now -- have filed lawsuits against the NBTC with the Central Administrative Court blaming the regulator for negligence in facilitating a smooth transition to digital TV. They are demanding combined compensation of 12 billion baht.
Controversy also centres on the new channel numbering rule. Pay TV operator TrueVisions remains the only platform operator refusing to rearrange the line-up of its first 36 channels since the rule took effect on Dec 2. The channel numbering rule requires all platform operators to run the same numbering system in a bid to reduce public confusion.
Low oil prices send firms scrambling
Oil prices have fallen by more than half from their record high, and the relentless rise in global supply looks set to outpace demand again in 2016.
The price hit a new trough on Dec 21 of US$34.42 a barrel, the lowest since 2009, with global oil production running close to a record high as the US, Iran and Libya vowed to continue petroleum exports.
In contrast, oil-consuming countries have enjoyed lower fuel prices, producers have cut spending and thousands of jobs, and the world's richest exporters have been forced to revalue their currencies, sell off assets and even issue debt for the first time in years as they struggle to repair their finances.
Analysts expect global oil prices will remain at a relatively low level in the early part of 2016, facing pressure from a huge supply glut among the Opec producer group and non-Opec countries. Big producers are trying to woo buyers at any cost, with Russia producing oil at a post-Soviet high of more than 10 million barrels per day. Opec output is closing in on a record level above 31.5 million bpd.
The situation has compelled Thai oil firms to rethink their business plans and revise down capital spending budgets.
PTT Exploration and Production Plc (PTTEP), a SET-listed upstream petroleum company, has cut its capital spending budget for a third time, aligning its investment plan with the global trend as oil prices continue to fall. According to PTTEP's five-year investment plan for 2016-20, total expenditure of the company and its subsidiaries for 2016 is set at $3.44 billion, with operating expenses accounting for $1.35 billion. The company's capital expenditure will be the remaining $2.09 billion. That figure was revised down from $3 billion and $2.5 billion in 2015 in response to declining oil prices.
SSI Group president and chief executive Win Viriyaprapaikit (centre) is flanked by creditors — SCB chief executive Arthid Nanthawithaya (left) and KTB president Vorapak Tanyawong — at a press conference for the group’s debt rehabilitation. KOSOL NAKACHOL
Currency expected to continue slide
Export contraction, delays in public investment, spiralling household debt, low farm prices, worsening drought and ebbing private investment and domestic consumption have dragged the economy to below its growth potential this year.
Thailand's annual growth averaged 3.44% from 2008-14, below its 4-5% growth potential.
The 2008 global financial crisis, Thailand's devastating floods, political uncertainty and the slower clip of economic growth in most parts of the world have battered the country and cramped new private investment.
When the decades-long advantage of cheap labour disappeared after the Yingluck Shinawatra government sharply raised the daily minimum wage to 300 baht nationwide and manufacturing technology became outdated, Thailand's economic momentum ran out of steam. The Bank of Thailand, the Fiscal Policy Office and the National Economic and Social Development Board have all forecast economic growth will be lower than 3% this year.
The central bank this month cut its 2016 GDP growth forecast to 3.5% from 3.7%, signalling risks to economic expansion from greater external headwinds. Exports fell by 5.32% year-on-year in the first 10 months to US$180 billion and headed for a third straight year of contraction, although the baht -- the third-worst performer in Asia after Malaysia's ringgit and Indonesia's rupiah -- dropped almost 10% due largely to capital outflows triggered by the US Federal Reserve's rate hike.
Foreign investors had pulled 150 billion baht out of the Thai stock market as of Dec 22. They cashed out another 103 billion from the Thai bond market, with most outflows associated with short-selling notes amounting to 81.5 billion baht, leaving the value of holdings at 580 billion baht as of Dec 14 compared with 683 billion at the end of last year.
The baht started its downward slide after the Bank of Thailand's Monetary Policy Committee unexpectedly cut its one-day benchmark rate in April for the second time in 2015 by 0.25 percentage points to 1.5% to ward off downside risks to growth and rein in the strong currency after shipments contracted early in the year. The central bank also loosened regulations to encourage capital outflows just one day after the surprise rate cut in April, which continued the currency's weakening trend.
The unexpected depreciation of China's yuan to maintain its trade competitiveness and concerns the deadly Aug 17 bombing of the Erawan Shrine would damage tourism -- one of few bright spots in the economy -- also pressured the baht.
The SCB Economic Intelligence Center, the research arm of Siam Commercial Bank, estimates a mere 50 billion baht worth of funds will flow out of the Thai bond market in 2016, as foreigners' holdings in short-ended notes, which are sensitive to policy rate changes, are pretty small.
The baht is expected to dip by about 8.7% to 37 to the US dollar next year, it said. These forecasts are based on an assumption that the US central bank will jack up its policy rate by another 50-100 basis points next year from a range of 0.25% to 0.5% now after ending a lengthy loose monetary policy cycle this month.
Another reason for limited capital outflows is Thailand has stronger economic fundamentals such as high foreign reserves than neighbouring countries, the research house said in a note. Thiti Tantikulanan, head of capital markets at Kasikornbank, is more pessimistic, saying the baht will continue to fall against the dollar, maybe even sliding to 38 by the end of 2016.
Grim prospects for farm shipments
In light of soft demand in China and other foreign markets, Thailand's major farm exports except tapioca are all highly likely to remain in the doldrums this year. The Office of Agricultural Economics said the shipment value of agricultural products totalled 1 trillion baht from January to October, down 7.8% year-on-year.
Biggest fallers were natural rubber (-20.3%), fish and fish products (-10.3%), rice and rice products (-10.1%), shrimp (-13.3%) and vegetables (-2.86%). Shipments fell to almost all markets except Myanmar, with China down 6.56%, Malaysia down 13.24%, Indonesia down 10.37%, Britain down 6.21%, South Korea down 6.77%, Vietnam down 16.32% and Hong Kong down 6.54%.
Farm product shipments last year fetched the country 7.31 trillion baht, up 5.94% from 6.9 trillion in 2013. Rubber prices have sagged in recent years because of poor global vehicle and tyre sales. The price of natural rubber has collapsed from a record high of 120 baht a kilogramme in 2011 to only 37 baht now, forcing the government to issue several measures to support prices. Thailand ranks as the world's biggest rubber producer and exporter.Prices are well below farmers' production costs of 55-60 baht per kg.
Luckchai Kittipol, honorary president of the Thai Rubber Association, said rubber prices were forecast to remain relatively low at 35-45 baht per kg in the first half of next year before edging up to 45-55 baht in the second half. Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association, said rice shipments still faced many challenges including drought, low oil and commodity prices and weak purchasing power of buying countries. He expects Thailand will ship 9 million tonnes of rice next year, down 10% from this year.
Steel industry girds for troubling times
It was another rough year for the steel industry, which faced a tough business cycle, with one major Thai steel maker going bankrupt after being hurt by cheap steel from China and bearing the burden of an unprofitable British subsidiary for years.
SET-listed steel maker Sahaviriya Steel Industries Plc (SSI) had to enter debt rehabilitation after it was forced to sell its assets in Britain because they failed to produce any profit.
SSI acquired SSI UK in 2011, not long before global steel prices started to fall due to the sluggish global economy.
Things grew worse after the acquisition, as China started dumping cheap steel onto the world market, causing global steel prices to become even weaker, cutting SSI's revenue sharply and forcing the company to bear a huge debt as SSI UK continued to perform poorly.
The debt-ridden parent was finally forced to submit a request to the Central Bankruptcy Court to enter business rehabilitation. It filed its request following its declaration for default of debt repayment due in late September.
SSI president Win Viriyapraphaikit will be the rehabilitation planner. Major creditors Siam Commercial Bank (SCB), Tisco Bank and Krungthai Bank (KTB) had earlier rejected the steel maker's requests for a rescheduling of SSI UK's debt totalling US$790 million (28.5 billion baht) to year-end.
SSI and SSI UK have borrowed a combined 48.4 billion baht from the three lenders -- 22 billion each from KTB and SCB and 4.4 billion from Tisco. The Thai steel maker posted consolidated net losses of 3.24 billion baht for the second quarter and 6.26 billion for the first half, with negative shareholders' equity of 1.78 billion. As the company could not repay its debt on time, SSI was automatically moved to the non-performing group.
Fisheries sector awaits EU verdict
After announcing a policy of tackling human trafficking and observing Thailand's fisheries industry for a couple of years, the European Union (EU) finally warned Thailand with a yellow card in April, threatening to stop imports of all Thai fishery goods.
The EU accused Thailand of engaging in illegal, unreported and unregulated (IUU) fishing.
The yellow card was a wake-up call for Thailand to clean up its fishing industry to avoid EU punishment. Trade sanctions could cost the seafood industry more than US$200 million, according to Siam Commercial Bank's Economic Intelligence Center.
The government has been trying all means to upgrade and overhaul the fishery system for the first time in decades in order to prevent being banned by the EU. The Customs and Fisheries departments have agreed to improve the system for tracking the import and export of aquatic animals.
They signed a memorandum of understanding to develop the tracing system and promised to work closely to keep IUU fishing in check with a system capable of tracking trawlers when they are out at sea until their catch reaches processing factories.
Every step will be monitored by officials trained in how to use the new system. Private associations are also working closely to record the imports and exports of aquatic animals. All the government measures and reviews by senior EU officials have been sent to EU commissioners, with a decision due next month on whether the EU will give Thailand a red card. Fishing companies and exporters of frozen food have been preparing for an EU trade ban. Most exporters have expanded their customer bases and switched to importing some replaceable raw materials to avoid being accused of IUU fishing.
Exports a downer as economy sags
When the economy falters, folks are quick to blame the export sector, which accounts for 70% of GDP.
Most economists predict a third straight contraction for the sector after falling by 0.3% in 2013 and 0.4% last year. The central bank is predicting a 5.5% contraction, while the National Economic and Social Development Board foresees a 5% dip.
After reporting shipments fell 5.51% for the first 11 months of 2015 to US$197 billion, the Commerce Ministry on Monday admitted the contraction could hit 5.5%, outstripping its earlier 3% forecast.
But Thailand still enjoyed a trade surplus of $10.2 billion in the first 11 months after imports fell by 11.2% to $187 billion.
Sompop Manarungsan, president of the Panyapiwat Institute of Management, said Thailand's export prospects remained uncertain next year. In addition to an unsettled global economy, foreign exchange rates are highly likely to be more volatile after the US Federal Reserve raises interest rates, putting more pressure on international trade.
Competitive devaluation is anticipated to flourish in 2016, as many countries try to achieve a relatively low exchange rate for their currency. A weak currency makes a country's exports cheaper. Mr Sompop said China's economy and exports are expected to remain limp in 2016, leading it to find ways to weaken the yuan to make its exports competitive. He predicts Thailand's exports have a high chance of seeing flat growth in 2016, in line with the Bank of Thailand's outlook.
The Commerce Ministry remains bullish, setting an export growth target of 5% next year thanks to state stimulus measures and development of special economic zones that will drive border trade. Promising prospects were predicted for vehicles and auto parts, gems and jewellery, frozen and processed chicken, electronics, electrical appliances, construction materials, machinery and parts, cosmetics and pharmaceuticals, gifts and souvenirs, and home furnishings and decor. But Somkiat Triratpan, director of the Trade Policy and Strategy Office, said low oil and crop prices remained the main threat to an export uptick.
2015 in review
2015 IN BUSINESS
Aviation sector leads nosedive
Broadcasting, energy, fisheries, exports, agriculture, steel and the baht all have a year to forget
- Bangkok Post Published: 30/12/2015 at 03:30 AM
- Newspaper section: Business
Safety concerns hit industry's credibility
The failure to fix aviation safety oversights identified by two global industry auditors qualifies the sector as one of the main losers for Thailand in 2015.
The year was a miserable one for the Thai aviation industry as the International Civil Aviation Organization (ICAO) gave Thailand a red flag for its safety shortcomings in June, followed by a Dec 1 safety rating downgrade by the US Federal Aviation Administration (FAA).
The international image of Thai aviation has been soiled, while the credibility of Thai-registered carriers has been tarnished.
The downgrade effectively clipped the wings of Thai-registered airlines from expanding their flight operations, casting an uncertain future for growth.
No new airlines have been allowed to set up, as Thai authorities suspended new licences until the debacle surrounding the aviation safety lapse can be sorted.
The lapse focused on the failure of the now-defunct Department of Civil Aviation (DCA) to improve air safety management and inspection systems within deadlines after serious flaws and shortcomings in its operations were discovered in separate audits.
While the deficiency was the responsibility of the DCA, the public may not distinguish between regulatory oversight and the safety of the airlines or Thai airports themselves.
"What happened in Thailand was a shock, because it has a huge travel and tourism sector, a huge aviation history, and yet it was caught out because of insufficient resources," said Andrew Herdman, director-general of the Association of Asia-Pacific Airlines.
The impact of ICAO's red flag and the FAA's downgrade to Category 2 is largely similar, meaning Thai-registered airlines are not allowed to open up new routes, or increase the frequencies of existing flights to foreign countries, or change aeroplane types already deployed on current service.
But the application of ICAO's verdict is not strictly binding, depending on the judgement of each country.
A number of countries -- including Japan, South Korea, Indonesia and, to a limited extent, China -- have enforced ICAO
restrictions on Thai-registered airlines' flights to their air space as guided by the UN body.
Thai Airways International (THAI) was the only Thai airline operating to the US, but it terminated its sole service to Los Angeles in October as part of its latest restructuring, meaning the FAA downgrade had no effect. The European market posed a much more serious risk, but the European Commission (EC) did not put a blanket downgrade on the Thai aviation sector or any particular Thai-registered carriers, which would have meant their flights to Europe would either be restricted or even banned.
The EC's Air Safety List was released on Dec 10.
As a result, THAI, the only airline operating scheduled flights to the continent, can continue its service to 11 destinations in Europe, the backbone of its market and which constitutes a third of its annual turnover.
But Thai authorities, namely the Civil Aviation Authority of Thailand, a statutory body replacing the DCA, are still struggling to fix the ICAO-FAA issues.
They hope to be able to remove the red flag next year. Against the backdrop of turbulence the Thai aviation industry faced in 2015, the flag carrier stood out as the biggest loser.
THAI's rehabilitation did not produce the results president Charamporn Jotikasthira vowed.
It suffered an aggregate nine-month net loss of 18.1 billion baht, raising concerns the 55-year-old airline's losses for 2015 could exceed the record of 21.3 billion posted in 2008.
Digital TV beset by unclear signals
The digital TV sector, once a rising star attracting much attention among investors last year, found itself inundated with problems this year, with one broadcaster throwing in the towel. The transition to digital TV has not been as smooth as the regulator thought it would be, and broadcasters are facing financial difficulties and unclear regulations.
The industry outlook is not bright after the collapse of Thai TV Co, led by Pantipa Sakulchai, and some are worried other broadcasters will suffer the same fate in the coming years.
The cash-strapped company could not find a strategic partner to shore up its operations. It faced losses of more than 300 million baht running two digital TV channels -- Loca children's channel and Thai TV news.
Thai TV sent a clear signal it was unlikely to operate the two channels when it failed to pay the second instalment of auction fees totalling 288 million baht in June. In fact, it wanted to return the two licences, but the National Broadcasting and Telecommunications Commission (NBTC) said it could do so only if it paid the remaining 1.6 billion baht in auction fees.
Thai TV's case is still pending, and the NBTC will pressure the company to pay the remaining auction fees and seize the two licences. On the other hand, the company filed a lawsuit against the NBTC, blaming the regulator for failing to facilitate a smooth transition to digital.
This resulted in its poor performance and failure, the company said. Analysts said the advent of digital TV took place when the economy was sluggish, while ad spending did not shift from analogue to digital TV as many people expected.
Digital TV is a capital-intensive business and takes a longer period to break even. The success of each channel relies mostly on TV viewership ratings and advertising revenue, according to analysts.
To solve the Thai TV deadlock, Somkiat Tangkitvanich, president of the Thailand Development Research Institute, suggested the NBTC amend the Frequency Allocation Act to allow cash-strapped digital TV channel operators to sell their permits to new players. But Col Natee Sukonrat, chairman of the NBTC's broadcasting committee, said such a move was not necessary, as the Act allowed broadcasters to adjust their shareholder structure. Apart from Thai TV, the regulator is busy dealing with disputes with a number of broadcasters.
Seven digital TV channels -- Bright TV, GMM, One, Thairath TV, PPTV, Nation TV and Now -- have filed lawsuits against the NBTC with the Central Administrative Court blaming the regulator for negligence in facilitating a smooth transition to digital TV. They are demanding combined compensation of 12 billion baht.
Controversy also centres on the new channel numbering rule. Pay TV operator TrueVisions remains the only platform operator refusing to rearrange the line-up of its first 36 channels since the rule took effect on Dec 2. The channel numbering rule requires all platform operators to run the same numbering system in a bid to reduce public confusion.
Low oil prices send firms scrambling
Oil prices have fallen by more than half from their record high, and the relentless rise in global supply looks set to outpace demand again in 2016.
The price hit a new trough on Dec 21 of US$34.42 a barrel, the lowest since 2009, with global oil production running close to a record high as the US, Iran and Libya vowed to continue petroleum exports.
In contrast, oil-consuming countries have enjoyed lower fuel prices, producers have cut spending and thousands of jobs, and the world's richest exporters have been forced to revalue their currencies, sell off assets and even issue debt for the first time in years as they struggle to repair their finances.
Analysts expect global oil prices will remain at a relatively low level in the early part of 2016, facing pressure from a huge supply glut among the Opec producer group and non-Opec countries. Big producers are trying to woo buyers at any cost, with Russia producing oil at a post-Soviet high of more than 10 million barrels per day. Opec output is closing in on a record level above 31.5 million bpd.
The situation has compelled Thai oil firms to rethink their business plans and revise down capital spending budgets.
PTT Exploration and Production Plc (PTTEP), a SET-listed upstream petroleum company, has cut its capital spending budget for a third time, aligning its investment plan with the global trend as oil prices continue to fall. According to PTTEP's five-year investment plan for 2016-20, total expenditure of the company and its subsidiaries for 2016 is set at $3.44 billion, with operating expenses accounting for $1.35 billion. The company's capital expenditure will be the remaining $2.09 billion. That figure was revised down from $3 billion and $2.5 billion in 2015 in response to declining oil prices.
SSI Group president and chief executive Win Viriyaprapaikit (centre) is flanked by creditors — SCB chief executive Arthid Nanthawithaya (left) and KTB president Vorapak Tanyawong — at a press conference for the group’s debt rehabilitation. KOSOL NAKACHOL
Currency expected to continue slide
Export contraction, delays in public investment, spiralling household debt, low farm prices, worsening drought and ebbing private investment and domestic consumption have dragged the economy to below its growth potential this year.
Thailand's annual growth averaged 3.44% from 2008-14, below its 4-5% growth potential.
The 2008 global financial crisis, Thailand's devastating floods, political uncertainty and the slower clip of economic growth in most parts of the world have battered the country and cramped new private investment.
When the decades-long advantage of cheap labour disappeared after the Yingluck Shinawatra government sharply raised the daily minimum wage to 300 baht nationwide and manufacturing technology became outdated, Thailand's economic momentum ran out of steam. The Bank of Thailand, the Fiscal Policy Office and the National Economic and Social Development Board have all forecast economic growth will be lower than 3% this year.
The central bank this month cut its 2016 GDP growth forecast to 3.5% from 3.7%, signalling risks to economic expansion from greater external headwinds. Exports fell by 5.32% year-on-year in the first 10 months to US$180 billion and headed for a third straight year of contraction, although the baht -- the third-worst performer in Asia after Malaysia's ringgit and Indonesia's rupiah -- dropped almost 10% due largely to capital outflows triggered by the US Federal Reserve's rate hike.
Foreign investors had pulled 150 billion baht out of the Thai stock market as of Dec 22. They cashed out another 103 billion from the Thai bond market, with most outflows associated with short-selling notes amounting to 81.5 billion baht, leaving the value of holdings at 580 billion baht as of Dec 14 compared with 683 billion at the end of last year.
The baht started its downward slide after the Bank of Thailand's Monetary Policy Committee unexpectedly cut its one-day benchmark rate in April for the second time in 2015 by 0.25 percentage points to 1.5% to ward off downside risks to growth and rein in the strong currency after shipments contracted early in the year. The central bank also loosened regulations to encourage capital outflows just one day after the surprise rate cut in April, which continued the currency's weakening trend.
The unexpected depreciation of China's yuan to maintain its trade competitiveness and concerns the deadly Aug 17 bombing of the Erawan Shrine would damage tourism -- one of few bright spots in the economy -- also pressured the baht.
The SCB Economic Intelligence Center, the research arm of Siam Commercial Bank, estimates a mere 50 billion baht worth of funds will flow out of the Thai bond market in 2016, as foreigners' holdings in short-ended notes, which are sensitive to policy rate changes, are pretty small.
The baht is expected to dip by about 8.7% to 37 to the US dollar next year, it said. These forecasts are based on an assumption that the US central bank will jack up its policy rate by another 50-100 basis points next year from a range of 0.25% to 0.5% now after ending a lengthy loose monetary policy cycle this month.
Another reason for limited capital outflows is Thailand has stronger economic fundamentals such as high foreign reserves than neighbouring countries, the research house said in a note. Thiti Tantikulanan, head of capital markets at Kasikornbank, is more pessimistic, saying the baht will continue to fall against the dollar, maybe even sliding to 38 by the end of 2016.
Grim prospects for farm shipments
In light of soft demand in China and other foreign markets, Thailand's major farm exports except tapioca are all highly likely to remain in the doldrums this year. The Office of Agricultural Economics said the shipment value of agricultural products totalled 1 trillion baht from January to October, down 7.8% year-on-year.
Biggest fallers were natural rubber (-20.3%), fish and fish products (-10.3%), rice and rice products (-10.1%), shrimp (-13.3%) and vegetables (-2.86%). Shipments fell to almost all markets except Myanmar, with China down 6.56%, Malaysia down 13.24%, Indonesia down 10.37%, Britain down 6.21%, South Korea down 6.77%, Vietnam down 16.32% and Hong Kong down 6.54%.
Farm product shipments last year fetched the country 7.31 trillion baht, up 5.94% from 6.9 trillion in 2013. Rubber prices have sagged in recent years because of poor global vehicle and tyre sales. The price of natural rubber has collapsed from a record high of 120 baht a kilogramme in 2011 to only 37 baht now, forcing the government to issue several measures to support prices. Thailand ranks as the world's biggest rubber producer and exporter.Prices are well below farmers' production costs of 55-60 baht per kg.
Luckchai Kittipol, honorary president of the Thai Rubber Association, said rubber prices were forecast to remain relatively low at 35-45 baht per kg in the first half of next year before edging up to 45-55 baht in the second half. Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association, said rice shipments still faced many challenges including drought, low oil and commodity prices and weak purchasing power of buying countries. He expects Thailand will ship 9 million tonnes of rice next year, down 10% from this year.
Steel industry girds for troubling times
It was another rough year for the steel industry, which faced a tough business cycle, with one major Thai steel maker going bankrupt after being hurt by cheap steel from China and bearing the burden of an unprofitable British subsidiary for years.
SET-listed steel maker Sahaviriya Steel Industries Plc (SSI) had to enter debt rehabilitation after it was forced to sell its assets in Britain because they failed to produce any profit.
SSI acquired SSI UK in 2011, not long before global steel prices started to fall due to the sluggish global economy.
Things grew worse after the acquisition, as China started dumping cheap steel onto the world market, causing global steel prices to become even weaker, cutting SSI's revenue sharply and forcing the company to bear a huge debt as SSI UK continued to perform poorly.
The debt-ridden parent was finally forced to submit a request to the Central Bankruptcy Court to enter business rehabilitation. It filed its request following its declaration for default of debt repayment due in late September.
SSI president Win Viriyapraphaikit will be the rehabilitation planner. Major creditors Siam Commercial Bank (SCB), Tisco Bank and Krungthai Bank (KTB) had earlier rejected the steel maker's requests for a rescheduling of SSI UK's debt totalling US$790 million (28.5 billion baht) to year-end.
SSI and SSI UK have borrowed a combined 48.4 billion baht from the three lenders -- 22 billion each from KTB and SCB and 4.4 billion from Tisco. The Thai steel maker posted consolidated net losses of 3.24 billion baht for the second quarter and 6.26 billion for the first half, with negative shareholders' equity of 1.78 billion. As the company could not repay its debt on time, SSI was automatically moved to the non-performing group.
Fisheries sector awaits EU verdict
After announcing a policy of tackling human trafficking and observing Thailand's fisheries industry for a couple of years, the European Union (EU) finally warned Thailand with a yellow card in April, threatening to stop imports of all Thai fishery goods.
The EU accused Thailand of engaging in illegal, unreported and unregulated (IUU) fishing.
The yellow card was a wake-up call for Thailand to clean up its fishing industry to avoid EU punishment. Trade sanctions could cost the seafood industry more than US$200 million, according to Siam Commercial Bank's Economic Intelligence Center.
The government has been trying all means to upgrade and overhaul the fishery system for the first time in decades in order to prevent being banned by the EU. The Customs and Fisheries departments have agreed to improve the system for tracking the import and export of aquatic animals.
They signed a memorandum of understanding to develop the tracing system and promised to work closely to keep IUU fishing in check with a system capable of tracking trawlers when they are out at sea until their catch reaches processing factories.
Every step will be monitored by officials trained in how to use the new system. Private associations are also working closely to record the imports and exports of aquatic animals. All the government measures and reviews by senior EU officials have been sent to EU commissioners, with a decision due next month on whether the EU will give Thailand a red card. Fishing companies and exporters of frozen food have been preparing for an EU trade ban. Most exporters have expanded their customer bases and switched to importing some replaceable raw materials to avoid being accused of IUU fishing.
Exports a downer as economy sags
When the economy falters, folks are quick to blame the export sector, which accounts for 70% of GDP.
Most economists predict a third straight contraction for the sector after falling by 0.3% in 2013 and 0.4% last year. The central bank is predicting a 5.5% contraction, while the National Economic and Social Development Board foresees a 5% dip.
After reporting shipments fell 5.51% for the first 11 months of 2015 to US$197 billion, the Commerce Ministry on Monday admitted the contraction could hit 5.5%, outstripping its earlier 3% forecast.
But Thailand still enjoyed a trade surplus of $10.2 billion in the first 11 months after imports fell by 11.2% to $187 billion.
Sompop Manarungsan, president of the Panyapiwat Institute of Management, said Thailand's export prospects remained uncertain next year. In addition to an unsettled global economy, foreign exchange rates are highly likely to be more volatile after the US Federal Reserve raises interest rates, putting more pressure on international trade.
Competitive devaluation is anticipated to flourish in 2016, as many countries try to achieve a relatively low exchange rate for their currency. A weak currency makes a country's exports cheaper. Mr Sompop said China's economy and exports are expected to remain limp in 2016, leading it to find ways to weaken the yuan to make its exports competitive. He predicts Thailand's exports have a high chance of seeing flat growth in 2016, in line with the Bank of Thailand's outlook.
The Commerce Ministry remains bullish, setting an export growth target of 5% next year thanks to state stimulus measures and development of special economic zones that will drive border trade. Promising prospects were predicted for vehicles and auto parts, gems and jewellery, frozen and processed chicken, electronics, electrical appliances, construction materials, machinery and parts, cosmetics and pharmaceuticals, gifts and souvenirs, and home furnishings and decor. But Somkiat Triratpan, director of the Trade Policy and Strategy Office, said low oil and crop prices remained the main threat to an export uptick.
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Big chief getting into tuk2 act with Miss Thailand :p
Prime Minister Prayut Chan-o-cha gives Miss Universe Thailand Aniporn "Nat" Chalermburanawong a tuk-tuk ride at Government House, part of the Thailand New Year Countdown 2016 tourist campaign. Bngkok Post pic
Prime Minister Prayut Chan-o-cha gives Miss Universe Thailand Aniporn "Nat" Chalermburanawong a tuk-tuk ride at Government House, part of the Thailand New Year Countdown 2016 tourist campaign. Bngkok Post pic
Re: A Singaporean's guide to living in Thailand ? Feasible?
25 russkie chabors kena in Patts. Bleak, poorer by loss of festive takings :p
Police arrest 25 Russian and Kazakhstani go-go dancers at the Moulin Rouge and Crazy Russian Girls bars in Pattaya's Walking Street, and charge them with not having work permits. Bangkok Post pic
25 russkie chabors kena in Patts. Bleak, poorer by loss of festive takings :p
Police arrest 25 Russian and Kazakhstani go-go dancers at the Moulin Rouge and Crazy Russian Girls bars in Pattaya's Walking Street, and charge them with not having work permits. Bangkok Post pic
Queue at Suvarnabhumbi for foreigners not so bad,
Thais queue very bad, Thais are pouring out of LOS for their annual New Year holidays. Wife of my partner told me all banks and changers ran out of Singapore dollars yesterday at Central Lat Phrao, a very big mall.
Thais queue very bad, Thais are pouring out of LOS for their annual New Year holidays. Wife of my partner told me all banks and changers ran out of Singapore dollars yesterday at Central Lat Phrao, a very big mall.
Re: A Singaporean's guide to living in Thailand ? Feasible?
Which couple is it? Black shirt or blue shirt? BTW they spoke like China/HK people
Jamban Jah, this pic you took randomly? Because I know the couple in the pic.
Which couple is it? Black shirt or blue shirt? BTW they spoke like China/HK people
Re: A Singaporean's guide to living in Thailand ? Feasible?
The black shirted guy and the lady next to him.
They are sinkie though the guy looks and speaks like an ABC.
The black shirted guy and the lady next to him.
They are sinkie though the guy looks and speaks like an ABC.
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