financial crash comes closer to

Post by **papafarang** » October 2, 2015, 7:18 am

platinum has free rents ? , surprised its not packed out

Post by **parrot** » October 2, 2015, 8:12 am

I don't know squat about growing rubber.......but back about 10 years when I was riding my bike, I'd often stop by rubber farms to observe the workers processing the rubber. Back then, prices were about 25 baht a kilo (according to my brain cells). The farmers that I talked to seemed satisfied with life. When prices began to spike, I'd guess lots of people made the jump into rubber farming.......having to wait several years before they can begin tapping the trees. By then, the price had dropped.......but their minds were focused on the 100+ baht per kilo yield......much like expats who came here post Thaitanic when the exchange rate was 42+/$1.......thinking that was the norm. Just my observation.

Post by **Jing Jing** » October 2, 2015, 10:48 am

The government and the banks should have educated these people as to the dangers of borrowing money or getting into a venture that was doomed to fail. The market will only handle so many tons of rice, palm oll, rubber at a given price. Exceeding these limits will only serve to lower the price. Providing a government subsidy only serves to prolong the problem and takes money way from other needed services both private and public.

It is not only the farmers it is every other business scheme. How many coffee stores do we need? Now the latest is used motorbikes. What will be the affect of all this over building. There are many older properties that can't be sold. Also a lot of the debt is held by loan sharks. They charge 2% and up per month for money loaned.

Post by **dingdong** » October 2, 2015, 11:16 am

As for money loaned if you look at YouTube and episodes of Pawn Stars both USA and the UK, interest rates in the stores for borrowing against an item of value is up to 13% per month
So I guess Business is Business

Post by **BobHelm** » October 2, 2015, 12:36 pm

Banks face biggest default since 1997

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

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

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.

Post by **bumper** » October 2, 2015, 1:01 pm

Fitch is watching the banking sector the article indicates that have sufficient cash reserves

http://www.bangkokpost.com/business/new ... turbulence

Post by **bumper** » October 2, 2015, 1:11 pm

Just worth paying attention to

http://www.bangkokpost.com/news/politic ... -northeast

Post by **rick** » October 2, 2015, 1:48 pm

Hard to say when it will (or will not) happen in Thailand, but there are worrying signs on world Markets. Both the FTSE in UK and exchange rates have become more volatile. Falls of 2% in a day on the stock market are becoming common, followed by a recovery over a few days, then crashes again. This is more volatile than it has been over the last 5 years. The GBP/Baht exchange rate is also acting similarly with rates many days fluctuating by over half a baht - sometimes nearly one baht. And today's substantial rise can be totally wiped out in a couple of hours - or continued .... sure someones getting rich but a dangerous game to be in. The markets seem to be dominated by greed and fear.

Post by **bumper** » October 2, 2015, 4:15 pm

All and all Thailand did pretty good through 2008

Post by **Zidane** » October 2, 2015, 4:18 pm

Yes,it looks like the good times at Sahaviriya Steel in Redcar,Teeside are well and truly over.....dont think the Duke of York will be visiting again any time soon......turn the clock back to June 2011.

: Duke of York at Sahaviriya Steel in Redcar.jpg (22.3 KiB) Viewed 1166 times

Duke of York Visited Sahaviriya Steel Teesside Plant in Redcar, United Kingdom

Prince Andrew, Duke of York, the second son of Queen Elizabeth II of the United Kingdom, visited Sahaviriya Steel Teesside plant, jointly welcomed by Mr. Win Viriyaprapaikit, President of Sahaviriya Steel Industries (SSI), Mr. Phil Dryden, CEO of Sahaviriya Steel Industries UK (SSI UK), H.E. Mr. Kitti Wasinondh, Thailand Ambassador to UK, company staff, and community leaders.In his role as UK Special Representative for Trade and Investment, His Royal Highness said “I am delighted to see the re-commissioning work here, and appreciate very much the investment by Thailand and SSI in the UK, in particular the North-East region. What I have learned today is that steel-making is a passion of the North-East and something the North-East is extremely proud of. This is going to be a plant which adds value to the UK and global economy. I wish everyone success in the task ahead and look forward to a return visit when the plant is in production.”
Sahaviriya Steel Teesside plant is an integrated iron and steel making facility, with the second largest blast furnace in Europe. With the acquisition of Sahaviriya Steel Teesside plant, SSI is now ASEAN’s largest fully-integrated flat steel producer

Post by **Zidane** » October 2, 2015, 6:58 pm

BREAKING NEWS......and its not good for the 1,700 employees of the Thai owned Sahaviriya Steel in Redcar,Teeside,England.

Redcar steelworks: Owners SSI go into liquidation
29 minutes ago BBC
SSI UK, the owners of the Redcar steelworks, has gone into liquidation.
The Thai parent company has applied to the court in Thailand to wind up its UK arm, which has been granted.
On Monday, it was announced the plant on Teesside was to be mothballed with the loss of 1,700 jobs.