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Thailand’s leading full-service real estate developer, Sansiri, in collaboration with different organizers including Golden Emperor, launched the first-ever Thai Festival at Lan Kwai Fong, Hong Kong, turning the place into the much popular “little Thailand.” Over the weekend, delicious Thai food, long sought-after goodies, plus different themed booths packed the streets of Lan Kwai Fong, adding the extra Thai aroma in the air. Together with the delectable dance performances, visitors got to experience the Thai culture while tasting luscious Thai snacks and drinking local beer, every one left the festival with an elated mood.

Above: Sansiri together with Golden Emperor and other organizers, held the Thai Festival at Lan Kwai Fong.

Above: The two-day event attracted countless visitors, turning the place into a hot spot for fun and laughter.

Above: Huge “Giant of Fortune” greets the public in the prosperous city, filling the air with exceptional Thai atmosphere.

Above: Mr. Roger Wu provided a talk on traveling in Bangkok. (Photos from Roger Wu’s facebook)

Above: Different booths were set up to offer Thai snacks and beer.

Above: Different themed-booths delivered fun and laughter to the visitors.

Above: Wearing special Thai costume, dancers performed an amazing show.

Above: Choirs singing Christmas carol to the public.

Above: Visitors had a very happy weekend at the festival.

Above: Sansiri’s VIPs got privileged treats at the event.

The Bank of Thailand has painted a rosy picture of the country’s economy, saying it is quite possible for fourth-quarter growth to exceed the 4.3% registered in the third quarter, adding full-year growth of 4% is obtainable if exports continue to rise at a double-digit pace.

“It is not hard for the economy to grow at least 4.3% in the fourth quarter, given the low base effect from the same period last year,” said Don Nakornthab, senior director at the central bank’s economic and policy department.

Low-base economic growth in the fourth quarter last year resulted from subdued economic activities, as the country mourned the passing of the late King. The impact of the government’s curbs on illegal tour operations also played a part.

“If we see double-digit growth in merchandise exports, the economy might grow as high as 4% this year,” said Mr Don.

The Thai economy grew 3.8% for the nine months to September, while on a balance-of-payments basis, merchandise exports grew 9.5% during the January-to-October period.

Mr Don said economic growth of 4.6-4.7% in the fourth quarter is required to reach full-year growth of 4%.

“It is possible we will see 4% growth this year as most economic indicators have been positive so far and the government is also injecting money into the economy,” he said.

The Bank of Thailand forecast 3.8% growth for both this year and next. The central bank is slated to revise the outlook again at the next Monetary Policy Committee meeting on Dec 20.

The Fiscal Policy Office recently said Thailand’s economic growth is likely to come close to 4% this year after robust momentum continued in October.

The economy continued to expand that month, supported by merchandise exports, tourism and government spending, said Mr Don.

On a balance-of-payments basis, merchandise exports grew across destinations and categories, amounting to US$20 billion in October, up 13.4% year-on-year. Without gold exports, the value was $19.9 billion, up 14.1%.

Tourist arrivals tallied 2.7 million in October, up 20.9% year-on-year and registering the highest growth this year. That surge was attributed to growth in tourists from almost all nationalities.

Mr Don said manufacturing growth was lacklustre in October because of temporary factors, including the high rate of integrated circuit and semiconductor production last year, the effects of the new excise tax on cigarettes and the large number of public holidays.

In October, the Manufacturing Production Index fell 0.1% year-on-year, down from 4.6% growth recorded in September.

“Bu we expect manufacturing production to rebound, on the back of higher imports of raw materials and intermediate in October,” he said.

Private consumption also slowed in October, as seen by a 1.4% increase in Private Consumption Indicators, down from 2.9% in September, while spending on durable goods remained strong.

Mr Don said fundamental factors supporting purchasing power were not sufficiently strong as nominal farm income contracted 4% in October, mainly from lower agricultural prices and lower rice production because of flooding in the Northeast.

State spending remained an important growth engine in October as the government’s current and capital expenditures grew 3% and 15.1%, respectively, excluding funds transferred to local administrations.

Headline inflation was 0.86% in October, while core inflation was up marginally to 0.58% from 0.53%, according to central bank data. Separately, despite its stable value in October, the baht has appreciated somewhat in November, he said.

“But the Bank of Thailand isn’t standing idly by, as it has been managing the baht’s value periodically, like when it appreciates too fast, to help Thai exporters adjust to the volatility,” said Mr Don.

Year-to-date, the baht has appreciated 9.9%, ranking as the second-biggest gainer in Asia following the Korean won, which strengthened 11.8% in the same period.

Since the end of June, the baht has been the third-strongest currency with 4% appreciation, after the Korean won (5.3%) and Malaysian ringgit (5%).

Source: Bangkok Post

Thailand welcomed over 28.8 million international visitors from January to October 2017 and earned 1.47 trillion Baht in tourism revenue. Mr. Pongpanu Svetarundra, Permanent Secretary of the Ministry of Tourism and Sports, recently told a press conference on the kingdom’s tourism performance. Both figures represented increases over 2016.

The precise number of overseas tourists for the 10 months of January to October was 28,824,753, an increase of 6.69 percent over the same period of 2016. Tourism revenue generated was 1,472,698.81 Baht, up 9.31 percent over the 2016 period.

For the month of October 2017, the number of foreign tourists jumped 20.92 percent over October 2016 to 2,723,971. Tourism revenue for October 2017 also rose significantly, up 24.38 percent to a little over 142.63 billion Baht.

Among source markets, Southeast Asia stood out with 29.38 percent growth in tourists sent to Thailand during October. The top 10 individual markets were China, Malaysia, Lao PDR., South Korea, India, Japan, Russia, Cambodia, the US and UK.

Mr. Yuthasak Supasorn, Tourism Authority of Thailand Governor, commented: “With the launch in November of the TAT’s new ‘Amazing Thailand Tourism Year 2018’ marketing concept, which focuses on segments like sports, gastronomy, weddings and honeymoons, luxury and community-based tourism, we’re confident of even higher visitor growth.”

Thailand’s domestic tourism sector also showed positive growth. January to September 2017 saw Thais made 109.15 million trips in their own country (up 6.32 percent over the same 2016 period) generating more than 695.23 billion Baht in revenue (up 7.34 percent over the same 2016 period).

Combining the overseas and domestic markets, total tourism revenue for January to October 2017 amounted to 2,167,932.74 Baht, an 8.67 percent rise over the same 2016 period.

The Ministry of Tourism and Sports highlighted the main reasons behind the growth in tourist numbers and revenue, including the International Civil Aviation Organisation’s lifting in October of the red flag imposed on Thailand since 2015 over significant safety concerns in its aviation sector. This, Mr. Pongpanu said, had since resulted in a lot of requests for more flights into Don Mueang International Airport, the second of Bangkok’s two main airports.

Also, Thai Airways International launched a new four times weekly direct Bangkok-Vienna route in November and NewGen Airways introduced new flights from Nakhon Ratchasima to Chiang Mai and Phuket, among several new routes and increased flight frequencies by both Thai and international carriers.

source: TAT NEWS

Golden Emperor partnered with renowned developer, Sansiri, to launch the first Bangkok’s residential property project, OKA Haus. The property is located in Rama IV, nearby the heart of Bangkok’s CBD Sathorn and One Bangkok financial district. OKA Haus is deemed to be a phenomenal success as new projects are rare in the area. Possessing great investment potential, the project was launched first time in Hong Kong at our exhibition and seminar, our event was attracting over 800 customers attended over the weekend.

Above: Over 800 customers attended the weekend exhibition.

Above: Terence Chan, Managing Director of Golden Emperor, provided a presentation on investing in Bangkok.

Above: Sansiri’s latest property project in Bangkok, OKA Haus also be featured at this event.

Above: Our clients in Hong Kong had exclusive offer during the event.

Three Thai notable families – Chearavanont, Chirathivat and Yoovidhya – are included in the Asia’s 50 richest families of 2017 list published by Forbes magazine.

The Chearavanont family, whose CP group is Thailand’s largest private company, takes fourth with a net worth of US$36.6 billion, up nearly $9 billion to its wealth listed last year, partly due to a surge in the value of its holding in Chinese insurer Ping An.

The magazine said the group is led by Dhanin Chearavanont, who is senior chairman and shares the fortune with his three brothers and other relatives. After 48 years as chairman and CEO, Mr Dhanin in January named his eldest son Soopakij as CP’s chairman and his youngest son Suphachai as CEO.

Chirathivat family which controls the Central Group, was ranked No.10 with the total wealth of copy9.3 billion.

The Yoovidhya family, of Red Bull energy drink fame, is a newcomer to the list this year, in position 22, with total wealth of copy3.1 billion.

No family highlights this surge better than the Ambanis of India, this year’s biggest gainer in dollar and percentage terms. Their net worth rose by $19 billion, to $44.8 billion, superseding the Lees of the Samsung empire to claim the No. 1 spot. That perch was always occupied by the South Korean family, which still saw its wealth swell by $11.2 billion. Shares in Mukesh Ambani’s conglomerate Reliance Industries soared, due to improved refining margins and the demand produced by its telecom arm, Reliance Jio, which notched up 140 million subscribers since it launched in 2016.

 Hong Kong’s Kwok family ranks No.3 this year with a net wealth of $40.4 billion. They are Asia’s richest real estate family, controlling Sun Hung Kai Properties.

The collective wealth of Asia’s 50 richest families, according to Forbes, is a record $699 billion, up 35% from last year.

For the third time, India enjoys the biggest presence on the list, with 18 families. Hong Kong follows with nine.

To qualify, all families must be rooted in Asia and have at least three generations involved in building the family fortune.

Source: Bangkok Post