TISCO Bank recently launched new campaign “Member Get Member”, a referral program for its existing customers who refer new prospects to apply for its loan against auto license “TISCO Auto Cash” which offers low interest rate and doesn’t require car ownership transfer. Customers can receive up to 1,000 baht of fuel card or gift voucher when the loan application is approved. The campaign is from now on until  October 31, 2012, For more information, please contact  TISCO Bank branches nationwide or go website www.tiscoautoCASH.com

Recently at KASIKORNBANK’s Head Office, Rat Burana, Mr. Somkiat Sirichatchai, second from right, Senior Executive Vice President of KASIKORNBANK, and Asia Green Development Bank Vice Chairman U Zaw Mynn, second from left, signed an agreement of funds transfer service to Myanmar via KBank counter and K-ATMs to ensure Myanmar workers of safe one-day remittance. U Mynn Tint, Minister Counselor, Myanmar Embassy in Thailand and Mrs. Chantavarn Sucharitakul, Senior Director for International Department, Bank of Thailand, also joined the signing ceremony.

Private entrepreneurs said their production costs have increased by 4.6% and expected the inflation rate to hover at 4%, according to the Bank of Thailand (BoT)’s survey.

The survey conducted among Thai entrepreneurs has indicated that most of them see around 2-4% inflation in the next 12 months; however, some companies believe the rate will be upwards of 4%.

Product and service price index has also risen; the production costs in the next 12 months are expected to rise by 4.6%. More entrepreneurs are worried about the difficulties in adjusting their product prices while the production costs are on the rise.  -.thainews.

Global Top Five Industrial Warehouse Rents in December 2011

Tokyo’s warehouse rents continued to top the world despite a fall of 3.0% in the second half of 2011. In Hong Kong, warehouse rents rose 8.1% in the last six months of 2011, the strongest growth amongst the top 10 markets, while Singapore also registered a notable increase of 6.8%.
In Asia Pacific, almost every market recorded a drop in warehouse vacancies in the second half of 2011. In addition, prime warehouse rents grew in more than half of the markets, amongst which observers in over 50% of them expect warehouse rents to rise further in the next six months. In Thailand, due to the flood disaster, some flooded areas are facing high possibility of more vacancies. On the other hand, the non flooded areas are going to be more popular for relocations and new set ups.

In North America, after hitting peak rates in 2010, warehouse vacancy rate dropped to 9.72% in 4Q 2011 due to the growth of manufacturing and distribution industry.

Looking ahead, the outlook on global warehouse market trends positive. The International Monetary Fund recently forecasted that global trade volume would rise by 3.8% and 5.4% in 2012 and 2013, respectively, despite downward adjusted economic growth. Thus, greater demand for warehouse space is expected with the rising global trade. As warehouse rents in the majority of Asia Pacific and North American markets in 2011 were higher compared to the previous year, Colliers expects this rising trend to continue in most markets of these two regions in the coming year.

KASIKORNBANK and the Bank of Thailand (BOT) are working together in offering 40 billion Baht in soft loans to businesses directly affected by the 2011 floods. The loans, offered in amounts of up to 30 million Baht at three percent interest for up to five years, will both assist in recovery and help drive the national economy.

KBank Executive Vice President Mr. Patchara Samalapa announced that the bank together with the BOT have made 40 billion Baht available through the BOT Soft Loan program for flood victims. The program offers low-interest loans to businesses directly affected by the floods and with operations located in declared disaster zones. This is in accordance with the Ministry of Finance’s regulation on advance payment for disaster victim assistance.

Businesses of juristic and natural persons are eligible to participate in the program. Loans of up to 30 million Baht per borrower are offered at three percent interest for up to five years. After five years, the interest will be adjusted to normal rate. Applications are now being taken until December 31, 2012. For more information, contact the K-BIZ Contact Center at 0 2888 8822.

Mr. Patchara noted that KASIKORNBANKGROUP has previously launched many special programs and services for post-flood business recovery. Examples include K-SME Flood Relief Loans and Kasikorn Factory and Equipment Co., Ltd.’s machinery and workplace restoration loans, as well as the present soft loans offered in conjunction with the BOT. Such products are created and offered to assist Thai businesses return to solid and sustainable operations, thus helping to drive the Thai economy forward.

Director of the BoT’s Office of Macroeconomics Songtham Pinto said the 4.8% growth forecast this year would be driven largely by domestic spending. The central bank believes the recent flooding situation will not affect the country’s long-term production capacity since the production sector will soon resume normal operation in these 1-6 months.

Service in the private sector and tourism, which are expected to receive a short-term blow from the flooding, will rebound in 1-2 months due to the government’s stimulus packages. Private investment is expected to rise following long repairs of buildings and machineries damaged by the floods.

Government spending on many projects, such as the rice mortgage scheme and the minimum wage hike, will continue to be the main growth stimulus this year, according to the BoT.

In 2011, Thailand saw a mere 1.8% economic expansion after the twin disasters in Japan and severe flooding in many provinces across the Kingdom. The inundation also caused shrinkage of 48% in the production sector, especially in electronics, automobiles and electrical appliances, while exports dropped for the first time since the global credit crunch.

Despite this year’s positive outlook, the central bank has suggested a close monitoring of the situations in major economies, especially the U.S. and the Eurozone, as well as the Thai government’s clarity on future flood prevention.

NNT

Mr. Prasarn Trairatvorakul, Governor of the Bank of Thailand (BOT) said the flooding that expanded into Rojana Industrial Park Phase 2 and 3, the total damage from the agricultural sector. And Rojana Industrial Estate Phase 1. United Rattana Nakorn Industrial Estate and then. The value of lost economic activity up to 1 billion baht.

Mr. Prasarn said that damage from the flood was higher than the Bank had expected the damage, especially in the industrial sector. Compared with a year ago that the damage only to the agricultural sector. The overall economic impact. In late October the bank forecast the economy would be down. And it is possible to cut up to 1% of the estimates. But because the bank has still not finalized the numbers again. And must include the restoration of government measures that will be much. It is an extension of economic growth in the year.

For the preparation of financial institutions are meeting the Bank to monitor the situation closely with commercial banks. The Bank of Thailand, the every other day. The branches of foreign banks are meeting every evening on Friday.

The issues that the Bank is preparing to prevent congestion of cash, checks, payment systems, as well as the preparation of the financial markets. Coordination with financial institutions and foreign currency swap transactions in advance. For trade transactions. Investment has continued to operate.

Kosit, currently Executive Chairman of Bangkok Bank, has warned that the country may in the future run into debts now that the government’s economic policy was aimed at boosting the economy through spending rather than investment promotion.

Kosit said the country’s current savings accounted for only 15 percent of the national GDP. Such percentage is a sharp drop from the country’s savings more than 10 years ago, which represented 25 percent of the national GDP.

He explained that with a little cash left in the state’s coffers, the government may have to seek loans when it has to invest in mega-projects.

Kosit commented that investment projects should be funded by cold money, not loans which could in the end put the country at financial risk. The decline in people’s savings would also pressure commercial banks to launch more fund-raising campaigns.

To increase savings, Kosit suggested that tax adjustment should be carried out to ensure more revenue.

BAAC President Luck Wajananawatch stated that the BAAC Board of Directors had given the green light to the measure to assist customers of the bank who were recently impacted by floods and mudslides. In case of fatality, the BAAC will annul the debt owed by the deceased and also compensate his or her family at 10,000 THB.

For agriculturalists sustaining a loss of more than half of their income because of the disaster, the bank will postpone their loan repayment deadline for another three years, during which no interest will be applied. In addition, new loans will be offered to the group at not more than 100,000 THB for rehabilitation purposes with an interest lower than the normal rate by 3 percent.

The BAAC will confer with the Ministry of Finance about the assistance measures before proposing them to the Cabinet for budget allocation.

Meanwhile, over 30,000 survival kits worth more than 11 million THB have been handed out to flood victims by the BAAC. The bank has contributed to the aid fund for people who lost their homes and will also join hands with public and private agencies in the upcoming rehabilitation effort.

Speaking of the policy of the Pheu Thai-led administration to raise the minimum wage to 300 THB per day and the salary for bachelor’s degree graduates to 15,000 per month, BoT Assistant Governor for the Monetary Policy Group Paiboon Kittisrikangwan admitted that he was still uncertain whether the policy would cause inflation to go up as feared by many.

Despite the Government’s policy statement recently delivered to Parliament, the Assistant Governor noted that the wage and salary hike policy remained ambiguous. He said the Monetary Policy Committee (MPC) would need to look into details of the policy, particularly methods of implementation, related procedures, timeframe as well as its ability to boost the national economy, before the next meeting in October.