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Briefs

Apr 24. 2013
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By THE NATION

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Foreigners spend on Thai property

The value of Thai property bought by foreigners last year was Bt67.03 billion, accounting for 11.6 per cent of all property available for sale during the year, according to an Agency for Real Estate Affairs survey.

 President Sopon Pornchokchai said about 26.9 per cent of the properties bought by foreigners, worth about Bt18.05 billion, are in Bangkok and surrounding locations, while 21.1 per cent (Bt14.1 billion) are in Phuket, 19.7 per cent (Bt13.17 billion) in Pattaya, 10.9 per cent (Bt7.2 billion) in Cha-aAm and Hua Hin, and 3.3 per cent (Bt2.2 billion) in Chiang Mai.

 The survey shows the top five Thai provincial cities in which foreign buyers are interested in purchasing property as Phuket (21.1 per cent), Pattaya (19.7 per cent), Cha-am and Hua Hin (10.9 per cent), Chiang Mai (3.3 per cent) and Hat Yai (2.5 per cent).

THAI eyes 11%

via new services, bigger fleet

Thai Airways is targeting 2013 revenue of Bt224 billion, up 11 per cent over last year’s level.

 The carrier posted revenue of Bt213 billion for 2012, which was only 5 per cent above the previous year’s income.

 Growth will be driven by more services to be launched during the year, as well as increasing the size of THAI’s fleet. The company will receive 17 new aircraft, bringing the fleet to 99 planes.

 “We want to make Thai Airways the airline first recognised by passengers. We will provide our passengers with Thai-style services, through both the serving of Thai food and our crew and staff giving Thai-style service.”

Thailand in farm pact with Bhutan

Thailand and Bhutan are forging closer cooperation in food safety, livestock production, aquaculture, horticulture, marketing and tourism in a bid to grow bilateral trade and investment as well as improve food security.

After a recent meeting between Thailand and Bhutan on the agriculture sector, Agriculture Minister Yukol Limlaemthong said Bhutan’s king had foreseen a potential for Thailand to help promote trade and distribution of farm goods.

Bhutan hopes to develop its farm production to serve the world market.

Thailand will transfer technology and science knowledge to Bhutan to aid farm production and livestock raising.

The technology transfer will also emphasise food-safety management, marketing of farm products, cooperative management, aquaculture production, resource management, and horticulture management.

Catastrophe fund reports progress

Payungsak Chartsutthiphon, president of the executive committee of the National Catastrophe Insurance Fund of Thailand, announced that over the past year of the fund's operation it had been able to insure an increasing number of households and businesses against three types of disasters: flooding, earthquakes and storms.

From March 28, 2012, to March 21 this year, 808,119 catastrophe-insurance policies were sold, representing Bt52.123 billion in proportional reinsurance coverage and Bt420 million in proportional reinsurance premiums. Catastrophe-insurance policies purchased by households accounted for the largest share, 92 per cent, of the total sold, while those purchased by small or medium-sized enterprises made up 7 per cent of the total and industrial customers 1 per cent.

Furthermore, it was found that households, at 58 per cent, accounted for the largest portion of the overall proportional reinsurance fund, with the industrial sector in second place at 26 per cent, followed by the SME sector at 16 per cent.

These rankings result from the fact that the industrial client group paid the greatest amount in premiums, 44 per cent of the total, followed by households at 36 per cent and SMEs at 20 per cent, with no claims filed to date.

After the fund began its operation, it set a single, standard rate of 0.5-1.25 per cent for premiums that applied nationwide.

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