The Bangkok Post Business News

Saturday November 22, 2008

Despite the deteriorating economy, average base salary increases at the end of this year will still be high at 7.79%, while the average overall bonus is 2.81 months, according to the human resource services firm Hay Group.

Toyota retains regular Thai staff

Toyota Motor Thailand (TMT), the Thai unit of the world's leading automaker, said yesterday that its 8,000 permanent staff would be unaffected by the company's lower production despite poor market conditions next year.

ECONOMY
Thai export growth slowest in six years

Thailand's exports are feeling the impact of the global economic slowdown, with shipments in October growing at the slowest pace in six and a half years.

STOCKS
SET gains ground slightly

Thai shares posted a modest gain of 0.93% yesterday in volatile trade as bargain-hunting erased early losses.

Signed, sealed, delivered

Very few companies in Thailand can claim the success that Indorama Polymers Plc (IRP) has accomplished in just 12 years, growing from a small start-up into the world's second largest polyethylene terephthalate (PET) manufacturer with operations across the world and potential to grow further.

Eagle eye for opportunity

Walking into the lavishly designed, dark wood-toned offices of Indorama Polymers on the 37th floor, the visitor is struck by the sight of an eagle and wonders what it has to do with a polyester business.

Success and failure both teach valuable lessons

Expanding internationally is not always a guarantee of success, but learning and applying the lessons from both successes and failures is the key to making future ventures successful.

Singapore deficit will top estimates

The Singapore government is likely to end the current fiscal year with a budget deficit of more than three times the S$800 million first projected, as it has stepped up spending to shield the economy from the global downturn that has pushed Singapore into recession.

Hotel occupancy collapsing rapidly

Hotel reservations nationwide during the coming high season will drop by at least 15%, the Thai Hotel Association (THA) predicts.

BCP to raise output next year despite slow demand

Bangchak Petroleum Plc (BCP), the majority state-owned oil refiner, plans to raise its refining output by 26% to 95,000 barrels per day next year despite an expected decline in domestic oil use. Patiparn Sukorndhaman, BCP's senior executive vice-president for accounting and finance, said the output would be raised from this year's average of 75,000 barrels per day after the completion of the 15-billion-baht hydro-cracking unit.

PETROLEUM
New Shell chief says retail upgrade crucial

Shell Company of Thailand will remain focused on its plan to improve its service station network in Thailand, according to its incoming chairperson, Pissawan Achanapornkul, the first woman to lead the company in its 116 years in Thailand.

AUTOMOBILES
Sales outlook not promising next year

Exports of Thai-built automobiles continued to perform well in the 10 months to October, but industry executives say the outlook going forward will become much worse as the global recession takes hold.

PTTEP tops big-cap table at SET Awards

PTT Exploration and Production was named the best performing company among large-cap stocks yesterday in the 2008 SET Awards. The top mid-cap performer was Univanich Palm Oil, while DSG International took the award for market capitalisation under 2.5 billion baht. Unique Mining was the best performer among MAI-listed companies.