WEB BBS MAY 18

BUSINESS SUPPLEMENT
THAILAND BUSINESS NEWS
New business registrations up by 7%
During the first 3 months of 2018 registrations
of new businesses surged by seven percent
compared to the same period last year. The rise
is seen as a result of new infrastructure projects
and increasing domestic demand.
Kulanee Issadisai, the director-general of the
Business Development Department was quoted
as saying, “The Thai economy remains on
course for continued growth, driven by rising
construction from infrastructure megaprojects,
which are expected to proceed well this year, as
well as growing exports and tourism,” adding,
“The government’s aid package to low-income
earners through the smart card scheme is also
helping boost domestic consumption.”
Although registered capital was down 13 per
cent to 60.83 billion baht, the number of new
businesses that registered in the first quarter
stood at 20,049. The expectation is that at least
75,000 new businesses will be registered this
year. The areas that drew the most new registrations
were the property and construction
sectors as well as the restaurant sector.
Mrs. Kulanee was also quoted as saying, “New
business registrations over the next few months
will be driven largely by SMEs.”
Kasikorn Bank and Bangkok Bank unveil
strong profit growth
Bangkok Bank, the second biggest lender by
assets in Thailand, and Kasikorn Bank, the third
largest lender, both posted a swifter pace of
quarterly profits but warned of headwinds going
forward including increased competition.
Bangkok Bank unveiled quarterly profits of 9
billion baht, an 8.4 per cent increase. Kasikorn
Bank reported a 5.8 per cent rise in quarterly
profit numbers to 10.8 billion baht. It was the
bank’s quickest pace of growth since early
2017. Within the numbers, the bank saw an increase
in interest income to the tune of 2.6 per
cent.
However both banks warned of tougher times
to come, due to increased completion from
payment companies that are being fostered
by the government as a drive towards a more
cashless society takes place.
Office space demand still steady in Bangkok
According to Colliers International, a leading
property consultancy company, Bangkok office
space will continue to be in demand for
the next few years as the economy picks
up steam, remaining at between 180,000 to
190,000 square meters per year.
Phattarachai Taweewong, senior manager in
the research department at Colliers International
Thailand was quoted as saying, “In the
first quarter this year, demand was driven by
new businesses,” adding, “Some of them set
up headquarters in Bangkok to prepare for an
investment in the EEC after getting a Board of
Investment permit.”
Although supply was limited in the Ratchadaphisek
and Rama IX areas, Chinese investors
remained interested in the new developments
on offer.
Mr. Phattarachai was also quoted as saying,
“The large amount of new office supply will
challenge old office buildings.”
Occupancy rates in the CBD areas showed
how tight the market was, with rates hitting 95
per cent for Grade A and Grade B properties in
the first quarter of 2018.
Mr. Phattarachai was further quoted as saying,
“Some new office towers in Grade A and
Grade B on Phahon Yothin and Ratchadaphisek
roads had a 100% or almost 100%
occupancy, as many multinational and Thai
companies relocated from former offices in the
CBD that had limited space for expansion.”
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