Thai Economy News

Singapore headquartered City Development has budgeted US$600 million (THB18 billion) to develop residential projects and take over hotels and resorts in Thailand and other Asian markets, according to The Nation.

PTT Exploration and Production (PTTEP) is exploring business opportunities in South America and Africa, with a view to turning the areas into the company's third business pillar, following Thailand plus Burma and Australia plus Canada.

K Village and Crystal Park are two retail malls in Bangkok that are very different. Large open areas, low – slung buildings and lots of parking area make malls like this popular very quickly.

As forecast by many brokerages, the SET Index broke its resistance level to hit a high of 1,113.63 points last week. Continued foreign fund inflows, a positive outlook ahead of the midyear election, and robust Asian markets all drove trade.

The new government should focus more on tax restructuring, as it is the key to maintaining fiscal discipline amid greater need for infrastructure investment and spending on social programmes, economists say.

Tourist arrivals to Thailand during the first quarter of this year improved 14.96%, the Tourism Council of Thailand reported, Monday, but it says it will review the year's target due to natural disasters both in Thailand and Japan.

Low interest rates on bank deposit savings accounts are driving investment demand in the residential market, where investors are seeking annual yields as well as capital appreciation.

Thai liquor tycoon Charoen Sirivadhanabhakdi’s TCC Land now holds 100 per cent ownership in its former joint-venture subsidiary TCC Capital Land after buying 40 per cent of it for THB2.33 billion (US$77.82 million) from its partner CapitaLand in Singapore. TCC Land formerly held 60 per cent of TCC Capital Land.

Thai Union Frozen Products PCL. (TUF), Thailand's leading producer and exporter of canned and frozen seafood products, says that the promising outlook on its tuna and shrimp business has remained unharmed from the persisting problems over tuna and shrimp raw materials

Carmakers still cannot plan when they can run their local plants on overtime even though limited production in Japan began early this week.