Bangkok Airways takes delivery of its latest aircraft A320

Bangkok Airways, led by Pradit Theekakul, Executive Vice President - Administration and board director, welcomed its latest Airbus 320 at Suvarnabhumi International Airport.
Bangkok Airways has progressively grown with the arrival of its 26th aircraft. This type of aircraft holds 162 economy class seats and will be serving both domestic and international routes such as Chiang Mai, Phuket, Krabi, Udon Thani, Myanmar (Yangon, Mandalay), Cambodia (Siem Reap, Phnom Penh), India (Mumbai), and Bangladesh (Dhaka). Presently, Bangkok Airways’ fleet consists of 26 aircrafts; 8 ATR72s, 8 A320s, and 10 A319s.

Thailand’s household debt rises fastest in Asia

Sutapa Amornvivat, chief economist and executive vice president of Siam Commercial Bank.

Skyrocketing household debt in Thailand now has the highest expansion rate among Asian countries and investors are advised to monitor it closely, warned Sutapa Amornvivat, chief economist and executive vice president of Siam Commercial Bank, Thailand’s oldest private bank.
Household debt in Thailand stood at 82.3 percent of gross domestic product at the end of 2013 and low-income earners with an average monthly income of less than 10,000 baht are responsible for most of the household debt, Sutapa said.
Describing the situation as critical to Thailand’s economy, which is recovering as it depresses domestic consumption, Ms Sutapa said prices of agricultural produce are still low. This is despite the state injection of funds into the system such as paying about Bt90 billion to farmers who had sold rice to the government under the now scrapped rice-pledging program.
A number of private companies have stopped overtime pay for their staff, she said. And household debt remains very high.
Domestic consumption has bottomed out and should recover if the public’s confidence improves as projected, she said.
Meanwhile, Thanawat Polvichai, director of University of Thai Chamber of Commerce’s Economic and Business Forecast Centre, said that Thailand’s economy could expand between 4-5 percent during the second half of 2014 due to improving domestic politics.
Dr Thanawat said the state was able prepare its budget expenditure plan for fiscal 2015, starting October 1, in time, and that the domestic economy would recover due to rising private investment.
The tourism industry is also projected to improve because of the current peace.
Thailand’s exports this year are projected to grow about 3 percent due to the recovery of the global economy, he said, adding that that the Centre has forecast that the country’s economy would grow more than two percent. (MCOT)

Raimon Land wins Environmental Impact Award

Raimon Land employees, led by Nuch Kalyawongsa, Director and Chief Financial Officer, went to Baan Sap Tai to plant young trees, a joint reforestation project with the Plant A Tree Today Foundation (PATT).

For the sixth year, property developer Raimon Land joined hands with the Plant A Tree Today Foundation (PATT) to protect and enhance the natural environment through a sustainable project. For these efforts, Raimon Land has been awarded the PATT Environmental Impact Award as the Thai company to have planted the most number of trees in 2013.
Raimon Land employees, led by Nuch Kalyawongsa, Director and Chief Financial Officer, recently headed to Baan Sap Tai to plant young trees from the Foundation’s sapling nursery. “This is our way of showing our commitment to preserve the ecosystem. The forest is one of our most important natural resources which provides precious habitats for wildlife and natural spaces for generations to enjoy,” she explained.
“Moreover, we are also helping the neighboring communities by preserving invaluable resources that can provide a range of long-term economic, social and environmental benefits,” Nuch added.
Dr. Andrew Steel, PATT Founder and CEO, expressed his recognition of Raimon Land’s continuous efforts: “Raimon Land is a true advocate of environmental stability projects and through its sustained support, we are able to create many initiatives to tackle the issue of climate change and to encourage sustainable development in the Kingdom. The PATT Environmental Impact Award is given to Raimon Land for its commitment to a greener future in Thailand.”
A staunch supporter of the PATT Foundation since 2008, Raimon Land has also been helping replenish the Sap Tai Forest in Khao Yai and fostering education through donations to the nearby Baan Sok Noi School.

AFG goes to ZF

The Automotive Focus Group (AFG) was invited by German manufacturer ZF Lemforder to tour their assembly plant, in the ‘Detroit of the East’, at Pluak Daeng, Rayong. About 35 members and guests were able to attend this plant tour.
After an introductory briefing on the history and current status of ZF, the visitors were shown around the plant, which assembles suspension and other components for BMW, Mercedes, GM and Ford. Safety is a major focus of the plant, with all including the visitors required to wear long sleeved shirts and trousers, and closed shoes.
Separate assembly lines and storage areas are established for each customer, and for each suspension assembly. Some of the assemblies are built on a ten minute cycle, others on a twenty minute cycle, depending on the delivery rate required.
Each assembly is tested and performance recorded for future reference, then individual assemblies are barcoded for in field tracking. ISO 14001 standards are maintained, as well as meeting Thai Automotive Institute customs requirements.
Particularly impressive was a Mercedes subframe, gleaming in silver of mig welded high tensile aluminium. The Mercedes suspension components are then painted with a clear coat to provide additional protection against corrosion, and to preserve the exceptional appearance.
This plant largely relies on manual assembly, as the cycle times are not too fast, particularly on the luxury vehicles. Robots can be used in the future, if and when component demand dictates.
Following the tour, AFG members held a networking at Cafe De On, a Mexican Cafe near the ESIE estates headquarters, where much fine Mexican food was consumed, also a beer or two.