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Thai industrialists’ confidence alarmingly low
The Thai Industries Sentiment Index (TISI) continuously slipped lower in the
past five months, sliding below 100 points for four consecutive months, an
industrialist said on Sunday.
Federation of Thai Industries (FTI) president Phayungsak Chartsuthipol said
the latest TISI in October was 93.9, down from 94.1 in September.
According to an FTI survey, the declining index was mainly due to decreasing
purchase orders, poorer industrial production and overall business
performance.
The disappointing TISI signals diminishing entrepreneurial confidence given
their concerns regarding the higher costs of raw materials, wage and
electricity, he said, adding that the global economic meltdown also has an
impact on their confidence.
Despite the unfavorable atmosphere, domestic consumption has successively
expanded compared to the previous month thanks to an increase in purchase
and sales orders.
Industrialists predicted the TISI in the next three months at 101.8.
Phayungsak said investors were most worried about the global economic impact
while other concerns involved exchange rates, Thailand’s internal political
situation, fuel prices and interest rates.
Local investors have proposed to the government to delay an increase of fuel
adjustment charge (Ft) on electricity, control fuel prices and solve the
problem of labor shortage, he said.
He added that small and medium enterprises (SMEs) had called on the
government to set up a fund to enable them to seek loans for
human-substituted machinery and reduce taxes on imported raw materials and
machines. (MCOT)
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Domestic car production exceeds 2 million units this year
Thailand’s automotive industry is jubilantly celebrating its “2012 Golden
Year” as annual automobile manufacturing has surpassed 2 million units for
the first time in five decades.
Vitoon Simachokedee, permanent secretary for industry, said today that
domestic automobile production through yearend will reach 2.3 million units
- 1.3 million units for domestic distribution and 1 million units for
export.
The champion products are pickup trucks and eco-cars, he said, adding that
Thailand has moved forward as one of the 10 top automotive-manufacturing
countries.
He said Thailand’s automotive exports rank sixth worldwide. Exports are
expected to reach 2.5 million units next year and 3 million units in 2017.
Federation of Thai Industries (FTI) president Payungsak Chartsuthipol called
2012 the “golden year” for the Thai automotive industry and said the country
currently has over 2,500 spare parts and automotive-related plants,
employing a competent labor force of more than 800,000 people.
The automotive and spare parts industries sought investment privileges at a
total value of Bt2.02 million this year, a 95 percent increase from last
year, he said.
Prime Minister Yingluck Shinawatra will preside at a celebration of
automotive achievement, entitled “2 million units: New era to global
success,” scheduled for Friday. (MCOT)
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ZF Lemforder opens new factory in Rayong
Reinhard Buhl (center right), CEO of ZF
Lemforder (Thailand) Co. takes Industry Ministry Deputy Permanent Secretary
Attchaka Seebunruang (center left) and officials on a tour of the plant.
Phasakorn Channgam
German auto parts maker ZF Lemforder (Thailand) Co. opened a new
manufacturing plant in Rayong, aiming to ship 240,000 parts per year by
2014.
Reinhard Buhl, CEO of ZF Lemforder (Thailand) Co. and Industry Ministry
Deputy Permanent Secretary Attchaka Seebunruang cut the ribbon at the
factory at the Eastern Seaboard Rayong industrial estate Nov. 13.
Buhl said the company decided to relocate operations from the Amata City
industrial estate, where it was located since 2002, because the company
needed a larger factory to accommodate increased orders from major U.S. and
German automakers.
Only 70 percent of the new 10,000 sq. meter plant currently is in use,
leaving plenty of room for expansion. The company wants to increase output
to 240,000 parts per year from the current 200,000.
Buhl said the launch of the ASEAN Economic Community in 2014 portends even
more expansion across the region for Lemforder.
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