What's new in business news: November 15, 2013 | Bangkok Post: learning

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What's new in business news: November 15, 2013

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Promising new digital TV set-top box market, slowdown in Bangkok real estate & Danish shoe factory closes in Phichit. 

People check out new projects at the 29th House & Condo Fair at the Queen Sirikit National Convention Center in Bangkok yesterday. The fair runs until Sunday. Developers believe buyers will return once they feel secure about their income. SOMCHAI POOMLARD

TELEVISION 

Promising new digital TV set-top box market 

The National Broadcasting and Telecommunications Commission (NBTC) will hold an auction for digital TV licences next month and it is set to be the hottest auction in Thailand's broadcasting history, with companies vying for the 15-year licences that will replace the traditional concession regime. Experts project that almost 30% of Thai households will move to digital broadcasting next year. Signal coverage is expected to cover 80% of the country by 2015. 

The NBTC has set aside 15.2 billion baht to subsidise digital TV set-top boxes for 22 million households. The regulator will give away coupons worth at least 690 baht to households for buying a box or digital-compatible TV.

Samart Corporation is entering the digital TV market with set top boxes and is also vying for a licence to operate a digital TV channel. Samart launched its Strong high-definition (HD) set-top box for 1,155 baht this week. The set-top box will give users a sharp picture and comply with digital TV broadcasting standards.  The set-top box will be connected between the antenna and the TV and set to receive 13 channels on a trial basis. Samart expects to sell 200,000 boxes within two months through its 10,000 I-Mobile shops, its handset distribution channel. Samart is preparing to launch another two set-top box models by next May. One will be priced below 1,000 baht for the mass market, while the other will cost about 3,000 baht and is aimed at high-end customers.

[Read full story here ]

REAL ESTATE

Slowdown in Bangkok real estate  

The property market in Greater Bangkok is likely to grow by only 5% this year, much lower than the previous forecast of 10%, due to stricter mortgage rules, higher household debt and political problems. Higher household debt has made financial institutions more cautious about lending. The overall rejection rate this year has risen to 20% from 16-17% last year. Some financial institutions have slowed down mortgage lending in the fourth quarter after reaching their target for home loans, but they will resume lending early next year.

The labour shortage that Thailand is experiencing will be a bigger problem for the construction industry next year as the limited number of construction workers will be in demand for the government's infrastructure projects. The real estate sector is short of about 100,000 workers. Construction costs will continue rising by about 5%, particularly for ready-mix concrete, as cement producers do not plan to expand machinery or production capacity.

[Read full story here ]

MANUFACTURING

Danish Shoe factory closes in Phichit

Ecco, the Danish shoe manufacturer, has closed its operations in Phichit province to consolidate its business in Thailand and cut operating costs due to the minimum wage hike.  The factory closure affects 1,138 employees, 1,000 of which are working on a daily basis with the rest on a monthly wage.

Minimum wages previously varied in the provinces, ranging from 159 baht to 221 baht per day to promote investments in rural areas. In Phichit the daily wage was 170 baht, attracting several investors including Ecco, with its factory located in the Phichit Industrial Estate. The factory makes parts to support the company's core operation in the Saha Rattana Nakorn Industrial Estate in Ayutthaya, which was damaged during the 2011 floods.

After the floods, the company looked for ways to improve management efficiency and decided to consolidate their two factories in Thailand. After consolidation, the company plans to expand production by doubling stitching lines to 20 in the next 20 months, at a cost of nearly 100 million baht. The firm needs an additional 1,000 workers on top of its current 2,000 employees to make 3.3 million pairs of shoes this year, for revenue of 3.3 billion baht. The expansion is expected to help Ecco Thailand reach 3.8 million pairs as targeted for next year, projected for 4.1 billion in revenue. The Danish shoe maker also has major operations in China and Indonesia and smaller operations in Portugal and Slovakia.

About half of the workers in Phichit expressed interest in moving to work in Ayutthaya. Those who move will receive 4,000 baht as a moving allowance and 2,000 baht for a monthly accommodation expense for three months. The company complied with labour laws by compensating staff who do not want to move to Ayutthaya. The province' s labour protection welfare unit reported Ecco paid 45 days wages for temporary workers, 75 days for permanent staff as well as other necessary remuneration, such as compensation for abruptly closing operations.

[Read full story here ]

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Vocabulary:

abruptly: suddenly and unexpectedly, and often unpleasant - อย่างกะทันหัน

accommodation: a place for someone to stay, live, or work - ที่พัก

additional: more; more than was first mentioned or is usual - ที่เพิ่มขึ้น

aim: to have as your purpose or goal - มีเป้าหมาย มีจุดมุ่งหมาย

allowance: an amount of money that someone receives in order to pay for the things that they need - เงินสนับสนุน

antenna: (plural antennae) a piece of equipment made of wire or long straight pieces of metal for receiving or sending radio and television signals - สายอากาศ, เสาอากาศ

assembly line: a line of workers and machines in a factory, along which a product passes, having parts made, put together or checked at each stage until the product is finished - แนวประกอบชิ้นส่วนของเครื่องในโรงงาน

attract: to cause someone to be interested in something - ดึงดูดความสนใจ

auction: a usually public sale of goods or property, where people make higher and higher bids (= offers of money) for each thing, until the thing is sold to the person who will pay most - การขายโดยการประมูล, การขายทอดตลาด

basis: the important facts, ideas or events that support something; the reason why people take a particular action - รากฐาน, หลักพื้นฐาน, หลัก

broadcast: a programme that can be seen or heard on television or radio - แพร่ภาพกระจายเสียง

broadcast: to send out a programme on television or radio - กระจายเสียง,กระจายข่าว

capacity: the amount of something that can be produced - ความสามารถในการ (ผลิต)

cautious: careful to avoid danger - ระมัดระวังไม่ให้เกิดขึ้น

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

channel: TV channel - ช่อง, ช่องโทรทัศน์

check out: look at something to see what it is and whether they are interested in it -

closure: the shutting down of a school, factory or other business or service - การปิด

compatible: able to exist or be used together without causing problems - ซึ่งสอดคล้องกัน,ซึ่งเข้ากันได้,ซึ่งอยู่ด้วยกันได้

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

compensation: money that someone receives because something bad has happened to them - เงินชดเชย

compliance: the practice of obeying a law, rule, or request - การยอมทำตาม

comply with: to obey a rule or law or do what someone asks you to do - ปฏิบัติตาม

concession: a right that is given to a person or group to do a particular activity - สัมปทาน

concrete: a hard substance used in building made by mixing cement, sand, small stones, and water - คอนกรีต

connected: linked - เชื่อมต่อ เชื่อมโยง

consolidate: to bring together to form one unit - รวมเป็นหนึ่ง

consolidation: to make a position of power or success stronger so that it is more likely to continue - การทำให้แข็งแรง,การรวบรวมกำลัง

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

core: the most important or most basic part of something - ที่สำคัญที่สุด

coupon: a small piece of printed paper that you can exchange for something or that gives you the right to buy something at a cheaper price than normal - คูปอง, บัตรแลกสินค้าที่ได้จากร้านค้า

coverage: the size of the area that is included or covered -

current: of the present time - ปัจจุบัน

daily: happening, done or produced every day - แต่ละวัน, ทุกวัน

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

digital: using a system of receiving and sending information as a series of the numbers one and zero, showing that an electronic signal is there or is not there - ซึ่งรับส่งข้อมูลด้วยการใช้ตัวเลข

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

double: to become twice as big, twice as much or twice as many - เพิ่มเป็นสองเท่า

due to: because of - เนื่องจาก

efficiency: the ability to work well and produce good results by using the available time, money, supplies etc in the most effective way - ความมีประสิทธิภาพ

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

expand: to make or become larger - ขยาย เพิ่ม

expansion: when something increases in size, number or importance - การขยายออก

expenses: money spent in doing a particular job, or for a particular purpose - ค่าใช้จ่าย

experience: to have something happen to you or to live through some event - ประสบ

expert: someone who has a particular skill or who knows a lot about a particular subject - ผู้เชี่ยวชาญ

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

financial institution: a business which helps its customers manage money, e.g., a bank, insurance company, etc. - สถาบันการเงิน

forecast: a statement about what will happen in the future based on information available now - การพยากรณ์, การคาดการณ์

give away: give to people for free -

handset: the part of a phone held in a hand; a mobile phone -

high-definition: high resolution; the ability of a camera, microscope, computer screen, etc. to show things clearly and with a lot of very small details - ความละเอียดสูงมีความคมชัด

high-end: expensive and of high quality; having a lot of money to spend - มีคุณภาพ

hike: an increase - การเพิ่มสูงขึ้น

hot: very popular - ซึ่งได้รับความนิยม

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

in demand: wanted by many people - เป็นที่ต้องการตัวของหลาย ๆ คน

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

investment: the act of investing money in something - การลงทุน

investor: a person or organization that invests money, i.e., uses money with the aim of making a profit from it, for example by buying property or buying shares in a company - นักลงทุน

labour: people whose job involves hard physical work that is not skilled, especially work that is done outdoors - กรรมกร, ผู้ใช้แรงงาน

launch: to start selling a new product or service to the public - เริ่มวางขาย

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

licence: an official document that gives someone permission to do or use something - ใบอนุญาต

limited: not much or enough; not very great in amount or extent - จำกัด

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

machinery: a piece of equipment or device that does something and gets its energy from electricity or gas - เครื่องจักร, เครื่องกล

major: very large or important - สำคัญมาก

management: the act or skill of dealing with people or situations in a successful way - การจัดการ

manufacture: to make and produce a product - ผลิต

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

minimum wage: the lowest wage, daily or hourly, allowed by law - ค่าจ้างขั้นต่ำ

mortgage: a legal agreement in which you borrow money from a bank in order to buy a house, build something, develop a piece of land, etc - การจำนอง

necessary: essential, needful, something that you must do or have - จำเป็น, ซึ่งเลี่ยงไม่ได้, ซึ่งเป็นที่ต้องการ, สำคัญ

on a daily basis: happening every day -

on top of: in addition to -

operate: to carry out a planned activity involving a lot of people to work in a particular way or from a particular place - ปฏิบัติ, ปฏิบัติงาน

operation: a business activity - การดำเนินการทางธุรกิจ

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

overall: total; including all the things or people that are involved in a particular situation; general - ทั้งหมด, โดยทั่วไป

pair: two of something - คู่

particularly: especially, or more than usual - โดยเฉพาะ

permanent: happening or existing for a long time or for all time in the future - ถาวร  

previous: happening or existing before the event or object that you are talking about - แต่ก่อน, เมื่อก่อน

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

production: the process of growing or making food, goods or materials, especially large quantities - การผลิต

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

project: to make a calculation or guess about the future based on information that you have - คาดคะเน

promote: to encourage or support something - สนับสนุน

property: a building or buildings and the surrounding land - อสังหาริมทรัพย์

protection: the act of protecting somebody/something; the state of being protected - การอารักขา, การปกป้อง

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

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

range from: to include a variety of different things in addition to those mentioned - ขยายออก, แบ่งประเภท

real estate: property - อสังหาริมทรัพย์

regime: a system for oreganizing and controlling some activity -

regulator: an official who makes certain that the companies who operate a system work effectively and fairly - ผู้มีอำนาจควบคุม

rejection: when someone refuses to accept, use or believe someone or something - การปฏิเสธ

replace: to change from one thing to another - แทน

resume: to begin again after stopping for a period of time - ดำเนินต่อไปใหม่, กลับมาอีกครั้ง

revenue: income from taxes or business activities - รายได้

rural: connected with the countryside outside big towns and cities  - ในชนบท, บ้านนอก

sector: a part of a country’s economic or business activity - ภาค (เศรษฐกิจ)

secure: safe from attack or harm - ปลอดภัย

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-top box: the box on top of TV used to receive satellite or cable TV and select channels - กล่องรับสัญญาณ

sharp: clear and definite - ชัดเจน

short of: not having enough of something - ขาดแคลน

shortage: when there is not enough of something - การขาดแคลน

signal: a mobile phone, TV or radio transmission -

slowdown: when the economy moves more slowly and worker incomes and company profits suffer and increase more slowly -

staff: workers employed by a person or organisation considered as a group - คณะผู้ทำงาน, คนงาน

standards: rules for behaving which should be obeyed - มาตรฐาน, บรรทัดฐาน, กฎเกณฑ์, กรอบ

stitch: a short piece of thread, etc. that doctors use to sew the edges of a wound together - รอยเย็บ

strict: demanding that rules are obeyed; very careful and exact - เข้มงวด

subsidise: to pay part of the costs of something - ให้ความช่วยเหลือด้านการเงิน

target: a particular number or amount that you want to achieve - เป้าหมาย

temporary: done or used for only a limited period of time, i.e., not permanent - ชั่วคราว

traditional: of a custom, a way of life or a way of doing things that has not changed for a long time - เป็นประเพณี, ตามธรรมเนียม, ตามที่ปฏิบัติกันมา

trial: a test, usually over a limited period of time, to discover how effective or suitable something or someone is - การทดลอง, การทดสอบ

unit: a part of a company or organisation that carries out a particular function; a group of people who work or live together, especially for a particular purpose - หน่วย,กอง,กลุ่ม

vary: to be different in different situations - ปรวนแปร, เปลี่ยนแปลง, แตกต่าง

vying for: competing with other people to achieve or obtain something - แข่งขันเพื่อ

wage: an amount of money that you earn for working, usually according to how many hours or days you work each week or month - ค่าจ้าง

welfare: help given, especially by the state or an organization, to people who need it; good care and living conditions - สวัสดิภาพ

worth: having a value in money, etc - มีค่า, มีมูลค่า

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