What's new in business news: September 5, 2013 | Bangkok Post: learning

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What's new in business news: September 5, 2013

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Purple rail line by 2017, central bank worried about defaults on car loans & new alcohol taxes unfair, some companies say. 

A van shows an advertisement for ‘auto cash’ that allows cars to be accepted as collateral for quick personal loans. Household debt soared to 77.5% of gross domestic product in the first quarter of this year, prompting banks to be more cautious with their lending. THANARAK KHOONTON

TRANSPORTATION 

Purple rail line to be completed by 2017

The Purple Line extension is scheduled to be up and running 40 months from now in 2017, two years behind the original schedule of 2015. The 2011 flood crisis delayed construction.

The train line being built will have 16 stations covering 23 km. Construction of the line is now 72% complete.

The purple line is expected to boost ridership by another 200,000 per day on the subway, which began operations in 2004. Current ridership on the existing line is between 270,000 and 280,000 a day on weekdays.

Bangkok Metro Plc (BMCL), the SET-listed subway operator, which operates 20 kilometres of subway trains and 18 stations from Hua Lamphong to Bang Sue, signed an 82.6-billion-baht 30-year contract with the Mass Rapid Transit Authority of Thailand (MRTA) on Wednesday for the procurement, installation, operation and maintenance of the Purple Line. The subway operator BMCL is expected to generate a net profit this year after posting a loss each year since 2004.

[Read full story here ]

BANKING

Central bank worried about defaults on car loans 

The Bank of Thailand's Monetary Policy Committee (MPC) is concerned about auto loan defaults and car-for-cash loans as consumer debt swells, opting to keep its policy interest rate at 2.5% for the time being.

Some members of the MPC expressed concern over the impact of potential auto loan defaults, which could adversely affect the prices of used cars, collateral values and potential lenders, however used-car loans still account for a small share of auto loans compared with new-car loans. A significant portion of new-car loans have been extended to car dealers rather than consumers thus limiting the effect. 

Although the auto loan default risk does not appear to be a systemic risk, some members of the MPC want more supervision on lightly regulated car-for-cash loans that are based only on registration certificates.

[Read full story lending" >here ]

TAXES 

New alcohol taxes unfair, some companies say 

5/09/2013

Business operators have criticized the new alcohol excise taxes as unfair.

One reason the new taxes are said to be unfair is because producers pay the tax, but the wholesalers set the prices used to calculate the tax and therefore producers have no control over those prices which are a function of how a wholesaler manages his costs and business. 

Another reason why the tax is said to be unfair is that some kinds of beverages with high alcohol content, that cause more road accidents, such as white spirits appear to be taxed at a lower rate (%4) than beverages with lower alcohol content such as beer, taxed at 48%. Thai Beverage is the country's largest white spirit producer.

The new alcohol tax rates are derived from the last wholesale prices after VAT, so all operators have to declare the real prices before the products are distributed.

The new rates are meant to increase the competitiveness of local producers against importers. Previously, imported beverages were taxed based on costs, insurance and freight (CIF) but in reality they were declared lower than the actual CIF costs to keep the tax rate at a minimum. This made imported beverages more competitive compared to local products.

[Read full story taxes" >here ]

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Vocabulary:

adversely: in a bad or negative way - อย่างเป็นผลร้าย อย่างเป็นผลลบ (ใช้กับบัญชี)ที่ติดลบ

advertisement: advert; a short piece of video or words with pictures that makes people interesting in buying some product - การโฆษณา

alcoholic: the disease of drinking a lot of drinks with alcohol (whiskey, beer, wine, etc), being addicted and not able to stop - ผู้ที่ติดเหล้า, ผู้ที่ติดสุรา

alcoholic beverage: a drink containing alcohol - สุรา

are a function of: are determined by; are calculated by - ฟังก์ชัน, เซตของคู่ลำดับโดยที่คู่ลำดับทุกคู่ไม่มีสมาชิกตัวหน้าซ้ำกั

base: to use an idea, a fact, a situation, etc. as the point from which something can be developed - วางรากฐาน

behind schedule: late; not on time, did not meet deadline - สาย

beverage: a drink of any type - เครื่องดื่ม

boost: to increase - เพิ่ม

calculate: to discover a number or amount using  mathematics - คำนวน

cautious: careful to avoid danger - ระมัดระวังไม่ให้เกิดขึ้น

central bank: the main government bank in a country that controls the supply of loans (credit) and the supply of money in the country and provides financial services to the government and other banks - ธนาคารแห่งชาติ

certificate: an official document or record stating that particular facts are true - ประกาศนียบัตร เกียรติบัตร

CIF: cost, insurance and freight; a term in trade that means that the seller pays for the goods to be transported by ship and pays for insurance of the goods while they are on the ship -

collateral: property that you agree to give to a bank or other creditor if you fail to pay back money that you have borrowed - หลักทรัพย์ค้ำประกัน

committee: a group of people who are chosen, usually by a larger group, to make decisions or to deal with a particular subject - คณะกรรมการ

competitive: when a product is more attractive to customers than other products because of low price, desirable features or higher quality -

competitiveness: trying very hard to be better than others - ความตั้งใจในการแข่งขัน; ความสามารถในการแข่งขัน

concern: a worry - ความกังวล

concerned: worried about something   - มีความกังวล

construction: the work of building or making something, especially buildings, bridges, etc. - การก่อสร้าง

consumer: someone who buys and uses goods and services - ผู้บริโภค

contents: what is inside something - จำนวนของสิ่งที่บรรจุอยู่

contract: an official written agreement - สัญญา

crisis: an urgent, difficult or dangerous situation - วิกฤต

current: of the present time - ปัจจุบัน

dealer: a person or company that buys and sells a particular product - ผู้จำหน่าย

debt: an amount of money that you owe - หนี้, นี้สิน

declaration: an official statement that something is true - การยืนยัน, คำให้การ

declare: to announce officially that something is true or happening - ประกาศ ยืนยัน

default: failure to repay a debt - การไม่ยอมชำระหนี้ การผิดสัญญา

delay: to make something happen at a later time than originally expected - หน่วง, ซื้อเวลา, ยืดเวลา

derive from: to get something from something else - ได้มาจาก

distribute: to give something out to many different places - แจกจ่าย

distribution: the process of giving something out to many different places - การแจกจ่าย

distributor: a person or company that supplies goods to shops/stores, etc - ผู้ค้าส่ง, ผู้แทนจำหน่าย, ผู้แจกจ่าย

excise tax: a tax made by a government on some types of goods made, used sold within their own country - ภาษีสรรพสามิต, ภาษีสำหรับสินค้าในประเทศ

existing: used now - ที่มีอยู่

express: to tell someone about a feeling, opinion, or aim by speaking or writing about it - แสดงออก (ทางความคิดหรือความรู้สึก) โดยใช้คำพูดหรือการเขียน, พูดออกมา

extend: to offer or give something to somebody - ให้กับ, มอบ...ให้...

extend loan: make a loan to someone; offer someone a loan; give a loan -

extension: something that is added to make something longer, bigger, etc. - การยืดออก, การยืดขยาย, การเพิ่ม

for the time being: for the present time, but probably not for a long time - พลาง

generate: to produce - ก่อให้เกิด

gross domestic product: the total value of all goods and services produced in a country in a year, except for income received from money invested in other countries. It is often simply called GDP - ผลิตภัณฑ์มวลรวมภายในประเทศ

household: a group of people, often a family, who live together - ครัวเรือน

impact: an effect or influence - ผลกระทบ

lending: giving money to someone who agrees to pay it back in the future - การให้ยืม

limit: to stop something from increasing beyond a particular amount or level - จำกัด

line: a public transportation route that a bus or train travels along sending people from one place to another place -

listed firm: a public company, i.e., a company that offers its shares to the public on a stock exchange - บริษัทมหาชน

loan: an amount of money that a person, business, or country borrows, especially from a bank - เงินกู้

local: in this country (Thailand) -

maintenance: work that is done to keep something such as a building, machine, or piece of equipment repaired and in good condition - การซ่อมบำรุง

manage: to succeed in doing something - สำเร็จ,จัดการได้สำเร็จ, ทำได้สำเร็จ

member: a person, a country or an organization that has joined a particular group, club or team - สมาชิก

minimum: the lowest possible; the lowest allowed - ต่ำที่สุด, น้อยที่สุด

monetary policy: the policy of the central bank of a country to control the supply of loans and money in the economy - นโยบายการเงิน

net: to earn a particular amount of money after taxes or other costs have been removed - ได้กำไรสุทธิ

operate: to carry out an activity like running a business - ดำเนินการ

operation: a business activity - การดำเนินการทางธุรกิจ

operations: the activity or work done in an area of business or industry - ปฎิบัติการ

operator: a person or company that runs a business - ผู้ดำเนินกิจการทางธุรกิจ, ผู้ประกอบธุรกิจ

opt: to make a choice or a decision from a range of possibilities - เลือก

original: existing at the beginning of a particular period, process or activity - ซึ่งเป็นแบบฉบับ, ต้นกำเนิด

personal: your own; not belonging to or connected with anyone else - เป็นส่วนตัว

personal loan: a loan for an individual person or people, not a company -

portion: a part of something - ส่วน

posting a loss: when a company officially reports losing money in its financial reports -

potential: possible in the future - ที่อาจเป็นไปได้

procurement: the process of buying supplies or equipment for a government department or company - การจัดซื้อวัสดุ เครื่องมือสำหรับบริษัท หรือหน่วยงานของรัฐ

producer: a person, a company or a country that grows or makes food, goods or materials - ผู้ผลิต

profit: money that you make from selling goods and services after all your costs have been paid - กำไร

prompt: to cause something to happen or be done - ก่อให้เกิด

quarter: three months of the year on the official calendar of the government or companies -

rate: an amount of money that is paid or charged - ราคา, อัตรา

reality: what is actually happening - ความเป็นจริง

registration: the process of recording names or information on an official list - การขึ้นทะเบียน, การลงทะเบียน

regulate: to control an activity officially by using rules - ควบคุม

ridership: the number of people using public transportation such as trains and buses and ferries to travel between places -

risk: the possibility that something dangerous or unpleasant might happen - ความเสี่ยง

schedule: a plan that lists all the work that you have to do and when you must do each thing - ตารางเวลา, กำหนดการ

scheduled: planned to happen at a particular time or day - ตามตารางเวลา

sign a contract: agree to do something in exchange for something such as money - เซ็นสัญญา

significant: large or important enough to have an effect or to be noticed - ซึ่งมีความหมาย

soaring: rising very quickly to a high level - พุ่งพรวดขึ้น

supervision: the process of making sure that something is being done properly - การควบคุมดูแล การตรวจตรา

swell: to increase in size or number - เพิ่มจำนวน, เพิ่มขนาด, เพิ่มปริมาณ

systemic: affecting all of something (such as the whole economy); having a widespread effect - ทั้งร่างกาย, ทั่วกาย

taxes: money that you have to pay to the government so that it can pay for public services - ภาษี

transportation: the process of moving people or things from one place to another - การขนส่ง

up and running: when a system is working and operating now, after a period of preparation or installation -

VAT: a tax that is added to the price of many goods and services - ภาษีมูลค่าเพิ่ม

wholesale: relating to the business of selling large quantities of goods, especially to people who are going to sell them in a shop - ขายส่ง

wholesaler: a company that does "wholesale" as a business, buying and selling goods in large quantities -

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