phuketrichard wrote:1 post • Page 1 of 1

Thailand is in more trouble than many believe


And you think things cannot get worse;
its not only what we see everyday that is causing serious problems in Thailand

* Rising discontent in Thailand's northeast
* Farmers angry at govt over economic hardships
* Thaksin "red shirts" warn they will eventually strike
* Govt seeks to revive rural economy, warns of nationwide impact

WORSE TO COME
The signs of economic malaise in Isaan are widespread. Private investment, vehicle sales and property values have all fallen and farmers in the world's second-largest rice exporter expect things to get worse before they get better.

http://www.reuters.com/article/2015/09/ ... 6Y20150930

Plus this could cause a serious situation worse than in 97

Sahaviriya Steel Industries Plc, the Bangkok-based operator of Southeast Asia's largest flat-steel manufacturing complex, reneged on 50 billion baht ($1.4 billion) of loans Monday following the failure of its four-year old UK venture. The group said it was suspending production at the Teesside plant, which employs about 2,000 people, amid a drop in prices and a supply glut stemming from slowing economic growth in China.

Thailand's biggest default since Thai Petrochemical Industry Plc buckled under $3.8 billion of liabilities during the 1997 Asian crisis looks set to knock earnings at Siam Commercial Bank, Krung Thai Bank and Tisco Financial Group, which combined had extended most of credit. As they negotiate a restructuring, the three leading creditors to the company will take a hit to their current quarterly earnings that could, in the case of Tisco at least, wipe out any profit entirely, SCB Securities Co says.

http://www.bangkokpost.com/business/new ... 997-crisis

phuketrichard wrote: ↑Fri Oct 02, 2015 8:35 pm today 36.4 if buying baht with a $50 or $100 bill

last year it was mid 32