SMEs given insight on construction industry at Kasikorn seminar

Phiphawat Phattranawik, assistant MD of Kasikorn Bank, welcomes customers to the event.

Urasin Khantaraphan
Small- and medium-sized enterprises literally looking to build their businesses obtained education and services at Kasikorn Bank’s Construction Solutions for SMEs seminar in Pattaya.
Bank Assistant Managing Director Phiphawat Phattranawik opened the May 27 expo at the Holiday Inn Pattaya.
Construction-related companies hosted booths on building programs and sold books to old and new contractors. Meanwhile, the bank provided advice on investments for small- and medium-sized businesses.
The event was organized to provide business knowledge for construction contractors, which is facing another challenging year in Thailand.
The K Research Center stated that Thailand’s economy within had shrunk 2.1 percent from the previous quarter. Uncertainty in politics is hampering the construction industry, the bank said.
The eastern region has the second-fastest growth rate in the country and bank officials said they are determined to help fuel business growth in the region.
Narongwet Wajonpanit, director of SCG Cement & Building Materials Co., provided an update on construction trends while Veerachai Pathomnetikul, the bank’s SME merchandising manager gave his perspective on the construction industry.
Jakraporn Unjit, director of the Construction Institute of Thailand, hosted a panel on Adapting Strategies for Construction Businesses. Meanwhile, Pratheep Theepsukkrasem, managing director of Chonburi Concrete Products, and Somchai Somjit, managing director of Poseidon Associates Group, lectured on learning to adapt to the current crisis.
Apart from the seminars, the event included awards from the bank and partners.

Rubber growers ask NCPO for help

Rubber growers nationwide are planning to ask the National Council for Peace and Order (NCPO) to help shore up rubber prices which have dropped sharply in the country, said Uthai Sornlaksap, chairman of the Thai Rubber Council.
Uthai said that rubber representatives have compiled assistance measures and submitted their request to the NCPO, asking it to help rubber growers in the upstream, midstream and downstream processes to be able to raise prices in line with the market mechanism.
He said about six million growers are now suffering heavy losses after production costs have risen to as high as Bt65.25 per kilogram while they could sell at only Bt61 a kilogram.
Growers disagree on the government providing subsidy to help offset production costs because the subsidy does not reach every grower, he said.
In the upstream process, growers would request the NCPO, which staged the May 22 bloodless coup, for its help in lowering production costs such as locating financial institutions to provide low-interest loans to enable them to grow supplementary crops or raise animals to enable them to earn extra income, Uthai said.
For midstream, the growers wanted to see that financial help be offered to rubber traders or cooperative operators so that they could invest in rubber processing and improve their product, he said.
Rubber growers also wanted promotion of domestic consumption in the downstream process and asked the NCPO to come up with a clear measure to use about 210,000 tonnes of rubber now in stock, said Uthai.
The rubber in stock should not be dumped in the market because the state would lose about Bt10 billion and would eventually lower its prices further, he added. (MCOT)

Five dual-track railway lines proposed for quick construction

State Railway of Thailand (SRT) governor, Prapas Chongsanguan, has called on the National Council for Peace and Order (NCPO) to help speed up the environmental impact assessment for five dual-track railway lines so the projects can be undertaken more quickly.

SRT Governor Prapas Chongsanguan.

Prapas said he met with the NCPO, which inquired about the railway projects of the past government.
The SRT and the NCPO agreed that the double-track railway projects should be accelerated as they would play important roles in national logistics, he said.
The NCPO also questioned him about obstacles hindering the projects and he replied that environmental impact assessment should completed more quickly for quick implementation.
Prapas said that accelerating the environmental impact assessment would not result in a negative impact and that the country would benefit from the quick construction of dual-track railways.
Negative environmental impacts could be prevented with scientific solutions, he said. (MCOT)

Bt70 billion expected to circulate during 2014 World Cup: UTCC Survey

The University of Thai Chamber of Commerce (UTCC) forecasts that some Bt69.245 billion will circulate in Thailand during the one-month-long 2014 FIFA World Cup, which started Thursday in Brazil.
UTCC Economic and Business Forecasting Centre director Thanawat Polvichai released the survey result on “Effects of 2014 FIFA World Cup on Thai Economy and Society”, saying that Thai spenders, mostly soccer fans, are expected to spend some Bt69.245 billion during the 20th FIFA World Cup between June 12 and July 13, representing a 16 percent increase from the previous tournament four years ago.
The survey was conducted on 1,229 people nationwide between May 20 and 29.
Most spending - some Bt43.53 billion - however, will be drawn to illegal activities, such as gambling, a 17 percent growth from the previous tournament, Dr Thanawat said.
He said the number of gambling soccer fans was also expected to increase during this year’s World Cup and they will bet on average some Bt5,072 on each match.
He said the proportion of people who gambled for money only was expected to increase to 51.3 percent in this year tournament, against around 33 percent during the previous tournament.
The remaining spending will be on domestic activities as matches kick off during night time in Thailand, said Dr Thanawat.
He said spenders are expected to spend some Bt25.715 billion on snacks, drinks, set-top boxes and souvenirs. (MCOT)

NCPO meets with Chinese Investors, signaling time for foreign investment

Dr. Yongyuth Maiyalap, of the NCPO’s public relations unit, said at a press conference last weekend at government house, that representatives from the Thai-Chinese Chamber of Commerce met with General Prayuth Chan-ocha to discuss investment in Thailand and further mentioned the NCPO chief’s meeting with the Chinese and Vietnamese Ambassadors to Thailand to stress their countries good relationship with Thailand.
Dr. Yongyuth added in an interview with an NBT World journalist that “at the moment it’s a good time for investment as seen from various financial indicators … for example, Moody’s has come out with their latest index that reflects the credibility of Thai bonds, which are at a healthy BAA1, and also saying the outlook is stable, along with the continuous climb in the SET Index since the army’s intervention.”
Dr. Yongyuth lastly added that now is a good time and opportunity for investors to come to this country and start working together. (NNT)