Bangkok April 2020

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BANK OF THAILANDEXPECTED TO CUTRATES AGAINFollowing a cut in interest rates by 0.25 percent to an all time low of 1 percent, the Bank ofThailand is widely expected to cut rates againto even lower levels.This follows an emergency cut in the U.S of0.5 percent on an intermeeting basis as well asstrong expectations of more interest rates cutsto come from the U.S. Federal reserve in nearterm scheduled meetings.As such, the Bank of Thailand is likely tocut again possibly twice in the coming monthas the Kingdom’s economic growth rate isexpected to slow to just 0.5 per cent year onyear, according to some leading economists atKasikorn bank.Yet interest rate cuts, whether here or in theU.S. are not necessarily the panacea they maybe commonly expected to be. When rates arehigh, interest rate cuts can have a real effect,but with interest rates already at decades’ lowlevels there is little more in the way of stimulusthat they can provide. It will be just another excuseto prop up overvalued stock markets withsuch actions likely to be futile in any case. Thenext step is for central banks to directly buystocks in the stock market to further artificiallyinflate prices, a dangerous precedent.In Thailand, the most important thing will befor credit card and loan issuers to cut rates totheir borrowers, and to increase lending dramaticallyto improve consumer confidence andspur spending behavior.BUSINESS SUPPLEMENTTHAILAND BUSINESS NEWSGOVERNMENT’SB 100BN STIMULUS TOGO AHEADApproval has been given by the governmentfor a 100 billion baht economic stimuluspackage to be releasedin order to kick-start theeconomy. The measures will include financialsupport for small business, tax incentives andtax cuts as well as other financial aid targetingspecific parts of the economy as may be necessary.Measures that may be rolled out are paymentholidays for principal amounts, new softloans from the Government savings bank, cashgiveaways to hardest hit families, speeding upVAT refunds, and other tax relief packages forSME’s.Deputy Prime Minister Somkid Jatusripitakwas quoted as saying, ”It is particularly importantto help SMEs to prevent further impacts onworkers. This is the first set of measures, andthere will be more later.”WINDSOR SUITESHOTEL TO STARTRENOVATIONS EARLYThe well-known Windsor Suites Hotel inBangkok’s Sukhumvit soi 20 will close for renovationson 30th April and will re-open at theend of the year.A fall in occupancy to just 30 per cent dueto an absence of Chinese and South Koreanvisitors has hastened the decision, and therenovations will take place earlier than previouslyplanned. The amount being invested willbe 400 to 500 million baht.Sukhumvit Road has seen a major changeto its skyline in the last 10 years or so withmany internationally recognized branded hotelsopening up recently. Amongst them arethe Sofitel and the Holiday Inn. More hotels areexpected to come online in the next few years.The Windsor Suites Hotel’s chief executive,Bundit Bosereewong, was quoted as saying,“We have to shift the strategy and let an internationalbrand tune in because the competitionin the Sukhumvit area is more intense as newsupply is added every year.”www.thailand-business-supplement.comWhile bar charts, line graphsand simple numbers are hardlycapable of providing the defininganswer to many economic, socialand political questions, they arecertainly a good way of obtaininga general overview of any particularsubject.Each month the Business Supplementwill look into a brace ofstatistical information and providereaders with what we consider tobe the central elements of thesefigures.THE WORLD’SMILLIONAIRESJUST STATISTICSMuch of the wealth can be foundin high property prices across thesaid countries and possibly wellinflated stock holdings. The rest ofthe top 10 countries all fall in thosecategories with France, Italy, Canada,Australia and Spain ranking 6thto 10th in that order.Asia’s other millionaires weremainly concentrated in Korea, Tai-HIGHEST VALUE“UNICORN”START-UPS IN 20192019 saw plenty of startup companiesemerging from venture capitalistsand hitting the stock market,or even remaining in private handsawaiting a possible IPO at the righttime.worth some US$15 Billion.Grab came in at US$14.3 billion,even though there was competitionfrom Uber, which itself is a prior unicorn,and now listed on the stockmarket.Millionaires, that is, those with anet worth of more than US$1million,can be found all across the globe,but most are in the United States.The U.S. is home to 18.61 millionmillionaires, (that’s over 5 per centof the population).China follows in second placewith 4.44 million, less than half ofone percent of the country’s population.Japan, The UK and Germanyfollow in third, fourth and fifth positionswith 3.02 million, 2.44 million,and 2.18 million millionaires respectively.wan, Singapore and Hong Kong,with India also high on the list.In total, worldwide there are 46.6million millionaires and 168,030 areof them are considered to be ultrarich with a net worth of over US$50million. Fully half of these ultra richindividuals are to be found in theUSA.Those that are valued aboveUS$1 billion are referred to as “Unicorns”,and there were more than400 of them last year.23 of those were valued at abovethe US$10 billion mark, amongstthem famous names such as AirBNBworth US$35 Billion, SpaceX worthUS$33 Billion and Drone maker DJIChinese internet giant, Bytedance(Tiktok), is the largest start upof the year worth some US$75 billion,and an IPO is expected to takeplace when conditions are right.In the end, for all unicorns, thestock market will ultimately decideon their final valuations, but moststartups have managed to largelymaintain their initial stock prices aftercoming to the market.Read Online Atwww.thailand-business-supplement.comHigh Tower Co., Ltd. Tel: 038 411 009For all your advertising enquiries - Tel: 0846 77 43 60
BUSINESS SUPPLEMENTFOR SALEFantastic 12 StoreyBuildingat Bali Hai(close to the Siam Bayshore Hotel)Property details: 12 Storeys with –• 6 Spacious Studio Units (40 sqm)• 12 Large One Bedroom Units (80 sqm)• 3 Penthouses with direct elevator access (150 – 180 sqm.)• 13th Storey with one apartment with a huge balcony and panoramic viewsof Pratumnak mountain and across Pattaya Bay• Land Area: 105 square wah• All rooms fully furnished.• Swimming Pool on the 2nd Floor.• Car Parking area.• Elevator with personal key access to Floors 10 – 12.• Internet system, CCTV, Sophon Cable.• Fire alarm system throughout, with fire escape stair well.This property sits near the end of a quiet Soi close to the Siam Bayshore Hotel.It provides the best of both worlds – with the feeling of being surroundedby nature and yet in the heart of the city!For Sale at an amazingAll relevant documents – title deeds (chanote),etc. – are available for inspection by interested buyers.FOR FULL DETAILS ON THISPROPERTY, CONTACT BEN @084-677-4360E-MAIL : Hightowerpattaya@gmail.com(*This property is for sale exclusively through the Business Supplement)Email: ben.hightowerltd@gmail.comwww.Thailand-Business-Supplement.com
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Bangkok April 2020

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