PBS AUG1

BUSINESS SUPPLEMENT
THAILAND BUSINESS NEWS
THANACHART BANK ANNOUNCES
INCREASED PROFITS.
Thanachart Bank announced a 1.1 per cent quarter-on-quarter
profit increase to 3.82 billion baht.
It is the 14th consecutive quarter of profit growth
for the bank.
There were fears that due to the removal of
digital transaction fees in April 2018, the company
would underperform, but net interest income increases
more than made up for any shortfall.
Indeed quarterly net interest income rose to
7.69 billion baht, a 5.49 per cent increase from the
year before.
For the first half year, Thanachart Bank earned
a net profit of 7.6 billion baht, a significant increase
form the 6.6 billion baht for the same period in the
previous year.
CAR SALES EXPECTED TO BE
STRONG ACCORDING TO THE FTI
According to the Federation of Thai Industries
(FTI) the car industry is expected to have a good
period ahead, although the motorcycle market
may lag somewhat.
Spokesman for the FTI’s automotive industry
club, Surapong Paisitpatanapong, was quoted as
saying, “In the domestic market, we think launching
new models can stimulate the market because
retail prices below 800,000 baht per car are very
attractive for motorists to buy new cars. But is still
hard to forecast whether the market this half will
remain bullish,” adding, “The export outlook has
performed better than expected as the country’s
main destination, the Middle East, has resumed
economic growth on rising oil prices.”
Initial expectation is for yearly output to top 2.1
million vehicles, an increase of 100,000 units from
the previous figure of 2 million. For the first half
of the year output stood at 1.057 million units, an
eleven per cent increase on the year before.
In contrast the local motorcycle market contracted
slightly, although full year projections are
expected to show a flat year overall. According
to a registrations report from the Land Transport
Department, registrations for new motorcycles in
the first half stood at 934,747 a reduction of 1.6
per cent.
Mr. Surapong was also quoted as saying, “Motorcycle
buyers are completely different from car
buyers, and many working-class people cannot
afford to buy cheap eco-cars, explaining why the
car market [which attracts another income segment]
has grown while the motorcycle market has
dropped,”
OPPO TARGETS HIGH-END
SMARTPHONE MARKET.
Even though the Thai smartphone market is saturated,
and has been for some time, Oppo is aiming
high with its sights set on the high-end market.
Executive vice-president of Thai Oppo Co.,
Chanon Jirayukul, was quoted as saying, “The
Thai smartphone market in 2018 will continue to
contract by up to 5% in terms of units,” adding,
“However, it will grow in value by a single-digit rate
as users migrate to higher-priced devices.”
For the first quarter of 2018, Oppo ranked second
in the local market. The company will launch
new high-end flagship models with AI enabled
25mp camera technology and a fast charge feature,
which will enable phones to be fully charged
in just half an hour.
Mr. Chanon was also quoted as saying, “We
see opportunity in the high-end smartphone market
that is currently dominated by a few players,”
adding, “Oppo has strong brand recognition after
operating for 10 years in the Thai market.”
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