Temporary jobs for the unemployed due to flooding
Workers left unemployed by the floods need not twiddle their thumbs.
Retail is changing plans
The major retail companies are changing their plans as Bangkok is under threat. Normally the high season would start soon.
Toyota: Control water priority
The government should fully concentrate on getting rid of the water before discussing recovery plans with the business community.
25 billion baht for 45-day recovery plan
To get the seven flooded industrial estates operational within 45 days, the government is allocating 25 billion baht for restoration work.
Government response to flooding influences investment decisions
Japanese companies investing in Thailand view political conflicts as short-term risks that do not affect their investments. But natural disasters, such as the current floods that have flooded seven industrial sites, pose a long-term risk. Thailand's failure to convince businesses that it can manage floods in the future could affect their investment decisions. This warning comes from Pimonwan Mahujchariyawong, assistant director of the Kasikorn Research Center. According to him, the most important…
Helping hand for affected businesses
With a package of support measures, the government is helping hard-hit businesses and hopes to restore investor confidence. The measures include loans with an extended repayment period and tax deductions for losses over a longer period. The Board of Investment will propose to the cabinet to scrap import duties on spare parts and raw materials, which are used to replace equipment damaged by the water. The BoI will also assist in arranging…
Indian rice is half the price
Thai rice exporters were shocked at a trade fair in Germany earlier this month. India offers its rice at half the price of Thai rice ($300 at $600 per ton). The fair visitors thronged the Indian pavilion; the 30 Thai rice exporters had it easy.
Automotive industry hardest hit by floods
The floods forced 14.000 companies to stop production. The automotive industry is one of the hardest hit industries. Japanese automakers Toyota, Honda and Nissan have been missing production of 6000 vehicles every day since the beginning of this month. That costs the three companies $500 million a month. Apple and Western Digital Corporation, the world's largest manufacturer of hard disk drives, are also at a loss. Apple won't get components, WDC expects it to…
Companies are trying to keep their heads above water
Companies try to keep going as best they can. A small overview: TMB Bank has closed 11 branches in the outskirts of Bangkok. A special team has been set up to keep an eye on the other affiliates that may be at risk. Siam Commercial Bank has prepared sandbags and water pumps at branches at risk. The LPN Development office at Rama IV will remain open. The company manages 60 housing complexes, …
North Bangkok shops are closing their doors
Many retail businesses in the northern part of Bangkok have closed their doors. An overview: In Future Park in Rangsit, Future Park itself, and the companies located in the complex Central Department Store, Robinson Department Store, Index Living Mall and Tops Market have closed. Big C and Home Pro are still open. Since last week, the number of visitors to Future Park has decreased by 30 percent. [As a former regular visitor to Future Park, I would…
Rice may be 19 percent more expensive as a result of flooding
Rice prices could rise by 19 percent by the end of the year due to flooding in Southeast Asia, including Thailand, and as the government has begun to buy up rice through its mortgage system, CP Intertrade Co, Thailand's largest rice packer, expects . The price of Thai parboiled rice may go to $750 per ton from $630 now and the same product from India from $480 to $500, Sumeth Laomoraphorn, president of …
Flood costs are enormous
The massive floods will reduce economic growth by 1 to 1,7 percentage points, according to the National Economic and Social Development Board (NESDB) and the Bank of Thailand. The forecast has been reduced by NESDB from 3,8 to 2,1 percent. 'The impact might be larger than this if the situation is beyond our control for a long time but if it is under control and restoration is fast, the impact could be restricted at this level', says …
Sufficient products; no price increases due to flooding
Instant noodles, chicken, pork, eggs, etc.: there is no shortage of products, the relevant companies assure. There will also be no price increases, although transport costs have increased. But the companies are struggling with a logistical problem, as a result of which 30 percent fewer products are available. The Betagro Group has a sufficient stock of chickens, pork and eggs. Ten thousand trucks are ready to transport them. “We want the government to clear up the roads,” says Vice President Nopporn Vayuchote. …
Thailand floods: an economic catastrophe (video)
New industrial sites are flooded every day. The damage to the Thai industry is enormous. The thriving Thai economy is now coming to a standstill because of the raging waters.
HDD manufacturers are considering (temporary) relocation
Hard disk drive (HDD) manufacturers are considering temporarily moving their production abroad. They fear that the interruption of production due to the floods will lead to a shortage of HDDs in the global market. The world's four top manufacturers are based in Thailand, accounting for 60 percent of world trade. Western Digital has suspended production at its two factories at Bang Pa-in (Ayutthaya) and Navanakorn (Pathum Thani); Seagate Technology (Samut Prakan…
Thai Industry Floods (Video)
Despite frantic efforts by volunteers, another industrial site flooded today.
Hi-Tech rescue operation fails; army to Bang Pa-in and Navanakorn
The army was unable to close the hole in the dike to close the Hi-Tech industrial estate in Ayutthaya, which had expanded from 5 to 15 meters due to the strong water flow. Placing containers, delivered by helicopter, also offered no solace. According to the commander on site because the water was too high; it stood over three feet. [As a born Rotterdammer who has seen quite a few containers in his life, I dare to comment on that statement.