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Commerce Ministry urges continued production during rally

Fri, 12 Mar 2010 08:19:32 +0000

BANGKOK, 12 March 2010 (NNT) – The Commerce Ministry requests department stores and manufacturers of goods to make sure that there will be no shortages of products during the period of protests of the anti-government group.

After meeting with representatives of 40 department stores and manufacturers, Department of Trade Negotiation Director-General Chutima Boonyaprapat advised them to continue their normal rate of production and ensured that the government had sufficient stocks of rice and sugar.

The ministry’s staff have been sent to check product prices and prevent good hoarding. The Commerce Ministry has also implemented measures to handle oversupply and prohibited transfer of rice from its warehouses or processing factories.

The manufacturers have promised to continue their production for distribution nationwide.

Meanwhile, the price of pork has fallen from 115-120 THB/kilogram to 110-120 THB/kilogram. The price of eggs has decreased from 2.90-3 THB to 2.80-3 THB due to school holidays and lower demand. The price of vegetables such as morning glory and cauliflower has increased due to a hot climate.

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New trading policy to boost number of Japanese investors

Fri, 12 Mar 2010 08:07:53 +0000

BANGKOK, 12 March 2010 (NNT) - Japanese investors will likely pay attention to the new trading policy rather than political problems.

According to Finance Minister Korn Chatikavanich, current political problem would not hurt investor confidence and would not raise any concerns during his trip to Japan on 12-13 March. Japanese investors would rather be attentive to the new trading policy to domestic situation as they intended to make a long term investment.

A rehearsal of business presentation was made with Thai entrepreneurs who joined the trip. The persuasion method was also adopted and will be used by representatives from the Thai Board of Investment. Meanwhile, representatives from the Ministry of Industry will clarify the issues of Map Ta Phut Industrial Estate.

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Security, cash reserves of banks well-prepared

Fri, 12 Mar 2010 07:16:38 +0000

BANGKOK, 12 March 2010 (NNT) – Commercial Banks have prepared security measures and adequate cash reserves upon the mass demonstration of the anti-government United Front of Democracy Against Dictatorship (UDD).

Kasikorn Bank CEO Banthoon Lamsam stated that cash withdrawal of customers at present was normal, and the bank would not increase the amount of cash reserves but would focus more on security measures instead. He said the bank had told employees and customers to avoid risky points, especially banks located near rally sites.

Mr Banthoon added that any branches of the bank would be closed down immediately if violence broke out. He then asked UDD protestors to demonstrate peacefully in line with the law and democratic system and pleaded the government to solve domestic political problems because violence would only tarnish the national image.

Meanwhile, Krung Thai Bank President, Apisak Tantivorawong confirmed that the bank had prepared security measures in risky branches as well as adequate cash reserves during the rally period. He then asked the public not to panic with the situation or withdraw cash from banks because ATM booths are available around the clock.

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Security tightened, checkpoints scan for weapons as Red Shirts nationwide set to enter Bangkok

Fri, 12 Mar 2010 06:30:49 +0000

BANGKOK, March 12 (TNA) - Thai government security forces on Friday tightened protective measures in Bangkok with checkpoints set up across the capital and surrounding provinces to strictly screen incoming travellers and transport for arms and explosives as the anti-government movement mobilises what it claims as one million protesters to join their mass protest planned to overthrow the Abhisit Vejjajiva administration.

Combined military, police and municipal security personnel set up checkpoints in Bangkok’s inner area, starting from the Supreme Court, Sanam Luang, and Ratchadamnoen Avenue through the Ministry of Foreign Affairs to search suspected vehicles, especially pickup trucks and motorcycles, to prevent smuggling of possible weapons and related material.

Additional closed circuit television monitors (CCTV) have been installed in several spots to monitor the situation and will be used as evidence if any violence occurs, while security measures at and around Government House, Army headquarters, the 1st Army Area headquarters, and the residences of important figures, have been tightened.

The Red Shirt protesters of the United Front for Democracy against Dictatorship (UDD) across the country are scheduled to depart their provinces Friday to join the group’s mass rally in Bangkok on Sunday.

The UDD earlier said 100,000 pickup trucks will be used to transport its supporters to the capital. Other protesters can meet at five meeting points across Bangkok and at Ayutthaya’s Wang Noi. People from the North can convene in Nakhon Sawan, while residents from the Northeast meet at Nakhon Ratchasima’s Pak Chong district.

At Wang Noi, an important gathering point for the UDD activists, one hundred riot police have been deployed to maintain order and search suspected cars to scan for weapons.

At a department store in Nakhon Ratchasima’s Pak Chong district, a temporary stage has been erected as a meeting point for Red Shirt supporters arriving from the northeast. UDD supporters there will move to the capital in the afternoon.

Acting national police chief Pol Gen Patheep Tanprasert said that two to three companies of police will be stationed at Wang Noi and work with military personnel there to inspect every car heading to Bangkok.

Following speculation by the Red Shirt leaders over possible clashes between protesters and police at Pratunam Pra-in checkpoint, Gen Patheep reaffirmed that police will not use violence against the protesters.

The police chief said the protesters can join the mass rally if they are unarmed, adding that if the situation intensifies, police have prepared staged response measures to handle the crowd, starting from talking, and then increasingly firmer measures up to using teargas if necessary to disperse an unruly crowd. (TNA)

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Govt, UDD urged for endurance, mutual responsibility

Fri, 12 Mar 2010 06:25:02 +0000

BANGKOK, 12 March 2010 (NNT) – The Psychiatric Association of Thailand (PAT) has pleaded both the government and the United Front of Democracy Against Dictatorship (UDD) to uphold endurance and mutual responsibility to refrain from violence.

PAT President MD Yongyud Wongpiromsarn stated that both the UDD and the government must uphold tolerance and mutual responsibility without perceiving one another as opponents. He said all sides should bear in mind that it was just a difference in opinion in a democratic society.

The president also asked UDD core leaders to manage the crowd, take care of each other, and avoid any communication that may escalate to violence.

MD Yongyud deemed that people’s public stance and demands for peace in Thailand via social networking sites would make a significant difference, when combined. Declaring one’s stance for peace can also help in stress reduction.

The president continued to say that the Department of Mental Health under the Ministry of Public Health would be ready to dispatch psychiatrists to assist people in any areas if violent incidents broke out. He added that the 1323 telephone hotline of the department was available for consultation.

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TCC urged Govt to maintain economic recovery

Thu, 11 Mar 2010 19:58:14 +0000

BANGKOK, 11 March 2010 (NNT) – The Thai Chamber of Commerce presented five key economic issues for government’s consideration in hope that they could help sustain the country’s currently fragile economic recovery.

TCC’s Vice Chairman Pongsak Assakul suggested that the most important issue to ensure the constant economic recovery was politics since it was unpredictable and destructive. Poor management could lead to reduced confidence of foreign investors.

He also said that the government should take the Free Trade Agreement with powerful nations seriously because it meant stronger trade ties and growing revenues. With oil prices on the rise, the government was suggested to develop renewable energy to meet domestic demands instead of dependence on costly oil imports.

The TCC hoped that drought in rural areas that was expected to intensify should be solved quickly by comprehensive approaches. Mr Pongsak also urged the Bank of Thailand to ensure stability of the Baht since it has accelerated 1.27% within a week.

He pointed out that if compared with the country’s major trade partners, it was obvious that their currencies had been more solid such as 0.28% of Singapore, 0.22% of the Philippines and 0.39% of Japan.

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Consumer confidence plunges first time in 4 months

Thu, 11 Mar 2010 19:56:21 +0000

BANGKOK, 11 March 2010 (NNT) – February’s consumer confidence index stands at 78.4% which declined for the first time since November last year, according to the University of Thai Chamber of Commerce (UTCC).

UTCC Vice Rector for research affairs, Saowanee Thairungroj, said the consumer confidence has been moving under the 100 mark for 67 consecutive months as consumers are still concerned about the economic situation susceptible to a crash under the current political instability. The oil price which is likely to increase and the high cost of living also play vital roles in influencing future unemployment rates.

At present, the consumer confidence stands at 65.2, showing the public are not fully convinced of the economic improvement. The index projection for the next six months is at 81.8, decreasing for the first time in 4 months and reflecting consumers’ concern over political uncertainty.

The UTCC Center of Economic and Business Forecasting has predicted that consumption will continue to adjust up despite the fall of every index. The consumption would improve in the second quarter of this year if the political situation develops without violence by April and the consumers are more cautious about their short-term spending. Unstable and restive situations may lead to the economic slowdown with only 3% growth or lower this year.

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Bangkok Bank foresees 4-5% econ expansion

Thu, 11 Mar 2010 19:53:02 +0000

BANGKOK, 11 March 2010 (NNT) – Bangkok Bank says the Thai economy is likely to expand by 4-5% due to recovery, asking the Bank of Thailand (BoT) to adjust the policy interest rate in line with the national economy.

Speaking about the direction of the Thai economy this year, Bangkok Bank President Chatsiri Sophonpanich forecast that the better global economy has helped the Thai export sector grow since the beginning of 2010.

Meanwhile, Bangkok Bank Board of Executive Directors Chairperson Kosit Panpiemras admitted that the bank was worried about the policy interest rate, which had been kept low for a long time. He said this would affect national savings.

The chairperson explained that the decision to peg the policy interest rate at 1.25% could not help boost the economy much. He said the national economy had returned to the normal level, especially in the tourism sector.

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CCTV fully functioned for the UDD´s movement

Thu, 11 Mar 2010 19:50:38 +0000

BANGKOK, 11 March 2010 (NNT) - Deputy Governor of Bangkok Metropolitan Administration, Theerachon Manomaipiboon had ensured readiness of CCTV to handle security in Bangkok.

Two thousand of closed-circuit televisions (CCTV) were installed throughout Bangkok to monitor the movement of anti government protesters of the National United Front of Democracy Against Dictatorship (UDD).

Additional 200 cameras provided by Bangkok Mass Transit System Plc had been installed at every BTS and MRT train stations, while 9,000 cameras by CP Seven Eleven Plc had been installed at every 7-Eleven branches throughout Bangkok.

The UDD core leaders has earlier announced that the mass protest to press for House dissolution will take place from 12 to 14 March 2010 at several areas in Bangkok. A sufficient amount of cameras were installed at the area of Bangkhen Monument, Wongwian Yai, Lumpini Park and Ratchadamnoen Klang Road.

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Thailand’s Consumer Confidence Index in February drops 1st time in 4 months

Thu, 11 Mar 2010 16:08:29 +0000

BANGKOK, March 11 (TNA) – Thailand’s Consumer Confidence Index (CCI) in February dropped for the first time since November last year, according to a survey conducted by University of the Thai Chamber of Commerce (UTCC).

The CCI in February fell to stay at 78.4, which was the 67th consecutive month it was under 100, according to Dr Sauwanee Thairungroj, UTCC vice president for research.

One factor causing a drop was consumer worry about Thailand’s economic situation, which could worsen due to the Red Shirt demonstrations this month.

Other factors included possible higher fuel prices and costs of living, which remained high in consumers’ views and could have a negative impact on future unemployment.

The current CCI stands at 65.2, indicating that the Thai economy has not yet much recovered, while opportunities and access to employment are still low. The future CCI in the next six months stays at 81.8, the first drop in four months, showing consumers’ concerns on the ongoing political instability.

The UTCC Center for Economic and Business Forecasting projected that the direction of public consumption tended to improve continuously, for the consumer index was signaling improvement in the long run despite drops in all types of indices for the first time in four months.

If the political situation eases up without violence this month and in April and consumers are careful in their short-term spending, the CCI will adjust positively at the end of the second quarter.

However, if the situation turns violent or politics continually lacks stability in the first half of this year, the Thai economy’s 2010 performance is likely to grow around 2-3 per cent, from 3.5 - 4.5 per cent projected earlier. (TNA)

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