Thai-Danish Trade News - September 1997

Page 1

THAf-DANISHRSP" Magazine of Danish-Thai Chamber of Vol.4 No.2

Commerce

September 1997 rssN 0859-1229

Covrmc EvnNrs Joint Ghamber Lunch September 16, 12.0O Joint Foreign Chambers'Lunch at the Grand Hyatt Erawan Contact: Danish-Thai Chamber of Commerce

Tel.:651 2805. Fax:651 2652 Meet the Ambassador

September 25, l2.OO Lunch at the Sukhothai Hotelwith the new Danish Ambassador to Thailand, HE Mr. Niels Kaas Dydund. For further introduction, see interview on page 11 Contact: Danish-Thai Chamber of Commerce

Tel.:651 28O5. Fax:651 2652 Money matters..

October 14, 18.3O Dinner at the Grand Hyatt Erawan with special guest speaker from SE Banken in Singapore. Attendance is limited to no more than two participants per member company. Contact: Danish-Thai Chamber of Commerce Tel.:651 2805. Fax:651 2652

After Off ice Get-together October 3O Host company and venue for this usually well attended informal meeting to be announced later. Contact: Danish-Thai Chamber of Commerce

Tel.:651 2805. Fax:651 2652

After Off ice Get-together November 27 Host company and venue for this usually w'ell attended informal meeting to be announced later. Contact: Danish-Thai Chamber of Commerce

Tel.:651 28O5. Fax:651 2652

Christmas Lunch December 4 Venue to be announced. Contact: DaniSh-Thai Chamber of Commerce

Tel.:651 28O5, Fax:651 2652

The currency turmoil:

Little confidence in the economic policy Members of the Danish-Thai Chamber of Commerce in a minisurvey entitled "New confidence of DTCC'S members after the new money policy" had little positive to say about the present economic situation since the floating of the Thai Baht. All respondents in a mini-survey among members of the Danish-Thai Chamber of Commerce repofted a negative impact on

ary pressure produced by the float and the VAT increase will probably in a rather short

what way?"

time waste this advantage." "Limited affect. lmported alloys and raw material will increase, - difficult to pass on to customers." "lt will affect my business in that we will have more inflation, so my fees will increase more than expected." "Very big impact since we are an importer."

Arranged from the least to the most seriously affected, the five randomly se-

duty and VAT costs have increased

their business because of the reduced value of the Thai Baht compared to the US dollar and thereby also to the Danish Kroner.

The first question in the mini-survey was: "Did [the floating of the Thai Baht] have any affect on your business, and in

lected members answered: "Our Thai customers are paralysed by the wave of pessimism sweeping the country, so we will have to reorganize our ac-

tivities to serve more clients abroad. Exporting, we have the advantage of the cheaper Baht - although both the inflation-

"Our imported costs including impoft

b y approximately 25 %. This will force us to increase our selling prices accordingly. Our

sales are also more affected and lower even with old prices, - new prices will see our sales/profit reduced." (Continued on page 5)


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