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NEWS UPDATES Asean Affairs     20 October  2011

Cost of flooding continues to mount

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The costs and worries of Thailand’s current flooding are beginning to mount as the Stock Exchange of Thailand opened down almost 22 points this morning.

Thai hoteliers at a tourism conference in Singapore expressed doubt that the main international airport, Suvarnabhumi, can be protected and noted that cancellations had already begun to pour into their reservation desks.

Logistics operators have asked for government help in transporting goods northward. Specifically, they feel the military can help them as part of the main Asia Highway is flooded north of Bangkok.

The 40 percent minimum wage increase in seven provinces including Bangkok has been postponed until April 2012.

Flooding has revised the fiscal 2012 budget as economic ministers yesterday discussed the possibility of setting the ceiling at 500 billion (US$16.2 billion) baht from 350 billion baht.

The floods and slowing global economy will likely trim earnings growth of Thai-listed companies to as low as 7 percent in 2012, says Kim Eng Securities.

The Flood Relief Operations Command (Froc) has received low marks from the public for issuing confusing and sometimes contradictory statements on the flooding.

Total costs of the flood continue to rise as the waters have not dissipated and may still enter central Bangkok.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


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