What's new in business news: October 4, 2013 | Bangkok Post: learning

Learning > Learning From News (เรียนภาษาอังกฤษจาก ข่าวบางกอกโพสต์)

What's new in business news: October 4, 2013

Level switch:
  1. Advanced
- +

Thai-Chilean free trade agreement signing today, first rubber industrial park in Rayong & loan guarantees to get SME involvement in megaprojects. 

The country of Chile as seen in Google Earth. Thailand will sign a free trade agreement (FTA) with Chile today.

INTERNATIONAL TRADE

Thai-Chilean free trade agreement signing today

Thailand will today sign a free trade agreement (FTA) with Chile that will take effect at year-end and will eliminate tariffs on 90% of products between the two countries, with the other 10% cut gradually over five years.

Thailand is already Chile's largest trading partner in Asean and Chile has already established FTAs with Brunei, Singapore, Vietnam and Malaysia and has started negotiations with Indonesia.

The agreement is expected to boost trade and investment between the two countries, particularly in the areas of mining, agriculture and fisheries, areas that Chile specialises in. Thai manufacturers will be able to import Chilean raw materials at lower cost which will benefit products such as automobiles and auto parts, canned seafood, processed food, canned fruit, electrical appliances, rubber and rubber products, plastic resin, cement, gems and jewellery, and apparel.

[Read full story here ]

AGRICULTURE & INDUSTRIAL DEVELOPMENT 

First rubber industrial park going up in Rayong

Thailand's first-ever rubber industrial estate valued at a combined 3 billion baht is being built in Rayong on a plot of about 2,000 rai by Thai Hua Rubber Plc.

The estate is due to be up and running next year and in full operation by 2016. The estate will employ as many as 10,000 workers and handle 500,000 tonnes of rubber a year, mainly for supply from nearby provinces such as Trat, Chanthaburi, Chon Buri, Chachoengsao, Sa Kaeo and Prachin Buri.

Rubber-based road construction is being promoted. Despite costing around 5% more than asphalt, the working lifespan of a rubber road is said to be about eight years longer. A one-kilometre stretch of road in 70,000 villages nationwide for instance could use up to 300,000 tonnes of rubber and help to immediately absorb supply in the market, shore up local rubber prices and address ongoing rubber protests in the South.

[Read full story here ]

BANKING & SMALL BUSINESS 

Loan guarantees to get SME involvement in megaprojects

The Thai Credit Guarantee Corporation (TCG) is set to guarantee loans for small and medium-sized enterprises (SMEs) seeking job contracts under the government's 2-trillion-baht infrastructure development plan. SME credit guarantees  are needed to ensure ample funding for subcontracting from large contractors. Small subcontractors typically must have working capital totalling at least 30% of a project' s value.

TCG now provides credit guarantees to contractors securing loans at Krungthai Bank for work on government projects and hopes to soon offer two new credit guarantee products for microentrepreneurs such as wet market vendors, with a maximum guarantee of 200,000 baht each, and for One Tambon One Product (Otop) operators, with a maximum guarantee of 3 million baht. 

Microentrepreneurs are business owners with fewer than five employees. Thailand has 2.65 million SMEs - 1.78 million microentrepreneurs, 860,000 small operators and 10,000 medium-sized operators.

TCG plans to provide guarantees for a combined 5 billion baht worth of loans to 50,000 microentrepreneurs and to compensate for potential non-performing loans (NPLs) of 25-50% of microfinance loans, TCG is asking the government to set aside 1 billion baht for loan-loss provisions.

[Read full story projects" >here ]

Learn from listening

Click "play" to listen to What's new in business news: October 4, 2013 and "Download" to keep this file for educational purpose.

Vocabulary:

absorb: to take in a liquid, gas or other substance from the surface or space around - ซึมซับ ดูดกลืน

address: to deal with a problem - จัดการปัญหา

ample: more than enough - มากพอ, เพียงพอ

apparel: clothing, when it is being sold in shops/stores - เสื้อผ้า, เครื่องนุ่งห่ม

asphalt: a thick black sticky substance used especially for making the surface of roads - แอสฟัลต์, สารชนิดหนึ่งมีสีน้ำตาลหรือดำเหมือนดินน้ำมัน

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

benefit: to get help or an advantage from something - ผลประโยชน์

boost: to increase - เพิ่ม

canned: preserved in a can - ที่บรรจุในกระป๋อง

cement: a grey powder made by burning clay and lime that sets hard when it is mixed with water. Cement is used in building to stick bricks together and to make very hard surfaces - ปูนซีเมนต์

combined: counted together - รวมกัน

compensate: to pay money to someone because something bad has happened to them - ชดเชย

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

contract: an official written agreement - สัญญา

contractor: a person or company whose job is to do work for another person, organisation, company, etc. - ผู้รับเหมา

credit: money loaned to people - เงินกู้

development: the gradual growth of something so that it becomes more advanced, stronger, etc - การพัฒนา

due to: scheduled to - มีกำหนด

electrical appliances: instruments or tools that run on electricity - เครื่องใช้ไฟฟ้า

eliminate: to get rid of completely - กำจัดหรือขจัดให้หมดไป

employ: to have someone work or do a job for you and pay them for it - ว่าจ้าง, จ้าง

employee: someone who is paid regularly to work for a person or an organisation - ลูกจ้าง

ensure: to make certain that something happens or is done - ให้การยืนยัน, รับรอง, ให้ความมั่นใจ

enterprise: an organization, especially a business - กิจการ, บริษัท,อุตสาหกิจ,วิสาหกิจ

entrepreneur: someone who starts their own business, especially when this involves risks - นักลงทุนทางการเงิน

establish: to start something, e.g. a company, organisation, fund, project, etc. that will likely continue for a long time - สถาปนา, ก่อตั้ง, จัดตั้ง

fishery: an area of water where fish are caught so they can be sold - พื้นที่ในการจับปลา

for instance: for example - ตัวอย่างเช่น

Free Trade Agreement (FTA): an agreement between countries to create "free trade" for some or all goods - เขตการค้าเสรี

funding: money given for a particular purpose - การให้เงินสนับสนุน

gem: a jewel (= precious stone), especially when cut into a particular regular shape - อัญมณี, เพชรพลอย

gradually: slowly and in small stages or amounts - อย่างทีละน้อย

guaranteed loan: guaranteed loan; when someone such as a the government agrees to pay back your loan if you cannot pay it back -

handle: to deal with a situation, a person, an area of work or a strong emotion - ควบคุม, ปฏิบัติ,จัดการ

immediately: happening right after something else with no delay; right away - ทันที

import: to buy or bring in products from another country - นำเข้า

in full operation: working or operating at 100% of capacity, if needed, all machines and equipment have been installed and everything is in good repair -

industrial: relating to industry - เกี่ยวกับอุตสาหกรรม

industrial estate: an area of land where industrial companies have their buildings - นิคมอุตสาหกรรม

infrastructure: a set of systems within a place or organisation that affect how well it operates, e.g., the telephone and transport systems in a country or the system of train tracks that a railway uses - สาธารณูปโภค

international: connected with or involving two or more countries - นานาชาติ, สากล, ระหว่างประเทศ

investment: the act of investing money in something - การลงทุน

involvement: the act or process of taking part in something - การเกี่ยวข้อง

jewellery: objects such as rings and necklaces that people wear as decoration - เพชรพลอย,อัญมณี

lifespan: the length of life of a thing or person; how long a thing can be used - อายุขัย

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

loan-loss: money that a bank loses because a borrower does not pay back a loan -

local: in this country (Thailand) -

manufacturer: a person or company that manufactures a product - ผู้ผลิต

maximum: the most possible - ที่สูงสุด ที่มากที่สุด

micro: very small -

microfinance: the activity of providing loans to poor people and their small businesses that cannot get loans from banks - การเงินรายย่อย

mine: a deep hole or holes under the ground where minerals such as coal, gold, etc. are dug - เหมืองแร่

nationwide: throughout a whole country - ทั่วทั้งประเทศ

negotiations: formal discussion in which people or groups try to reach an agreement - การเจรจาต่อรอง

non-performing loan (NPL): a loan that is not being paid back as arranged and may never be paid back; a non-performing loan (NPL), bad debt - หนี้เสีย, หนี้สูญ, หนี้ที่ลูกหนี้ไม่ยอมชำระตามกำหนด

offer: to make something available or to provide the opportunity for something - เสนอ

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

particularly: especially, or more than usual - โดยเฉพาะ

partner: two people, businesses, organizations, etc that work together on some project or business - ผู้ร่วมมือ, ผู้ร่วมกระทำ

plot: a piece of land used for a particular purpose - ที่ดินแปลงเล็ก

potential: possible in the future - ที่อาจเป็นไปได้

processed: treated in some way, e.g., treated with chemicals, cut, etc. -

project: a planned piece of work that is designed to find information about something, to produce something new, or to improve something - โครงการ

promote: to encourage or support something - สนับสนุน

provide: to give someone/ something that they want or need - จัดหาให้, จัดเตรียมไว้ให้

province: on of many divisions of the government of a country into smaller parts - จังหวัด

provisions: an amount of money kept to deal with problems and expenses in the future; accounting provisions -

raw material: a basic material that is used to make a product - วัตถุดิบ

resin: a sticky substance produced by some plants and trees, often used for making paints, glue and plastic - เรซิน, สารที่มีลักษณะเป็นยางเหนียว

rubber: a bouncy, elastic material used in car tires and waterproof gloves - กล้ายาง

secure: to get or achieve something - ได้มา

seek: to try to obtain or achieve something - พยายามได้มา

set aside: to keep or save something from a larger amount or supply in order to use it later for a particular purpose - สำรอง

set to: ready to do something - พร้อม

shore up: to help to support something, often that something that has problems or that is weak and in danger fo failing - ยัน, พยุง, เสริม

specialise: to concentrate on a particular subject or activity - มีความชำนาญเป็นพิเศษ

stretch: a straight part of a journey - ช่วง

subcontractor: a contractor that the main contractor doing a project hires to do work -

supply: an amount or quantity of something that is available to buy or use; use the amount of a good available in a market to buy - อุปทาน

take effect: to begin to be used or required - ส่งผล

tariff: customs tax, a tax paid on goods coming into a country (and sometimes on goods going out) - ภาษีศุลกากร

trade: the buying and selling of goods and services - การค้าขาย

typically: usually; normally - อย่างเป็นแบบฉบับ

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

use up: use something so that there is no more of it - ใช้จนหมด

value: how much something is worth in money or other goods for which it can be exchanged - มูลค่า

wet market: the old style outdoor market - ตลาดสด, ตลาดที่ซื้อขายของสด

working capital: the money and stocks of goods that are used to run a business from day to day, to pay employees and produce and sell more goods - เงินหมุนเวียน; เงินทุนหมุนเวียน; เงินทุนระยะสั้น

More on this topic

Bangkok Post online classifieds

Try buying & selling goods and properties 24/7 in our classifieds which has high purchasing power local & expatriate audience from within Thailand and around the world.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments