Hardy641 Posted November 4, 2008 Report Share Posted November 4, 2008 Donâ??t know which business you are into but I can second this for the consulting business. Most projects are postponed or put completely on hold, payments coming late and deadlines for RFP are not kept. Even sure bets like the Airport Link which is scheduled to be operational August 12th, 2009 are in doubt as the proxy-government even hasnâ??t appointed the required decision makers. Thailandâ??s ongoing political instability definitely wonâ??t make things better. Tough times ahead. Link to comment Share on other sites More sharing options...
stappler Posted November 4, 2008 Report Share Posted November 4, 2008 Hardy, I'm in a different line of yours but tough times ahead is the general feeling. Payments are coming late indeed, orders beeing cancelled, goods returned, and bankrupcies are widely feared. Going to court against one of our major customer in 10days but doubt we go anywhere too good. Acquaintances dealing mostly with the US market seem to be going through particulary tough times. Luckily we started working with a very large customer recently who for some reason decided to invest significant amount of money in our branch, but the payments due on October 31st haven't reached any of the acounts concerned, and if they change their mind, no matter how moist is BKK, we are fried. Vox Populi say next year should be worse ,I don't know, but definetely looking for a niche that will be doing good. And hopefully some bargain to be had in BKK serviced apartment market as read above in this thread. Link to comment Share on other sites More sharing options...
drogon Posted November 4, 2008 Report Share Posted November 4, 2008 Don't know for all the serviced apartments but for a very particular brand name, (c*********t) business is down and they don't expect it to rise next year.... Only good point? The luxury properties branch is doing very well (currently girlfriend is managing 10-15 projects and not a single villa is under 10 million bht) so as usual, the wealthy will do well, the workers, employees will suffer... Bargains? Always possible to get some in Thailand but will we still have money to bargain? Link to comment Share on other sites More sharing options...
stappler Posted November 4, 2008 Report Share Posted November 4, 2008 10 milion baht is hardly a big amount in BKK property market, so no much hope of a bargain for next contract... But in our field as well the healthiest segment of the market at the moment is apparently the very high end, and the prices are not going down either - which is good news but than we still need money. Link to comment Share on other sites More sharing options...
drogon Posted November 4, 2008 Report Share Posted November 4, 2008 I precised that the cheapest ones were not below 10 millions, most of them are around 20-40 millions... I visited one of her projects and the nicest villa was a nice 150 million bht... unfortunately for people like me (and her) we will never have this amount of money. Of course we never want to have such a damn piece of useless luxury... Link to comment Share on other sites More sharing options...
bust Posted November 4, 2008 Report Share Posted November 4, 2008 I spoke to a group of guys yesterday who between them had around $900M available funds as we speak. All developers who think that the next 4 years are going to be an exciting era of expanding prosperity similar to the one in the 90's They are getting off-shore funds as the Australian economy in global comparisons are considered a safe bet. The amount of investment bleeding from the US is unprecedented. Link to comment Share on other sites More sharing options...
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