What's new in business news: July 3, 2014 | Bangkok Post: learning

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What's new in business news: July 3, 2014

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Suvarnabhumi airport expansion put on hold, 3,000 lose jobs as rubber glove factory closes in Songkhla & boom in entertainment & media spending in Thailand. 

At peak times, Suvarnabhumi is thronged by passengers, but the military junta says plans to expand the airport and relieve the pressure are too expensive. (Photo by Wisit Thamngern)

TRANSPORTATION

Suvarnabhumi airport expansion put on hold

Suvarnabhumi airport expansion plans were put on hold Wednesday after the junta' s state budget monitoring and scrutinising committee demanded Airports of Thailand (AoT) review these plans. The estimated 60 billion baht project cost was said to be too expensive.

The AoT is still moving ahead with improvements to Don Mueang airport's capacity to accommodate a surge in the number of passengers there. The upgrade to Don Mueang airport's Terminal 2 is expected to be completed by October this year. This will allow the airport to handle 30 million passengers a year, up from 18 million at present.

The number of passengers passing through Suvarnabhumi airport is now more than 51 million people each year, far more than its 45 million capacity. The second expansion phase at Suvarnabhumi was supposed to start in December this year and would be completed by the end of 2016 or early 2017. The expansion would boost airport capacity to handle up to 60 million passengers per year. The upgrade at Don Mueang's Terminal 2 could help alleviate problems to some extent as some flights can be directed there.

Read full story here

MANUFACTURING

3,000 lose jobs as rubber glove factory closes in Songkhla

Safeskin Medical and Scientific (Thailand), a unit of Texas-based Kimberly-Clark Corporation, plans to shut its rubber glove plant in Songkhla province by year-end, leaving 3,000 employees out of work. It is one of two Safeskin plants in Thailand. The closure is driven by major losses the company shouldered for over two years after the factory was hit by floods. Machinery at the 16-year-old facility is old and would require a massive investment to buy new machinery. The rubber glove manufacturing margin in Thailand is also said to be very thin. Safeskin also has a problem about wastewater, but this is said to be manageable.

A factory source said employees who lost their job were hoping a new investor would buy the factory so they will not lose their jobs. Safeskin also operates another plant in Songkhla's Sadao district producing high-tech medical gloves that will remain open.

Read full story here

ENTERTAINMENT AND MEDIA

Boom in entertainment & media spending in Thailand

Entertainment and media (E&M) spending in Thailand is forecast to rise by 33% to US$13.3 billion a year by 2018, fuelled by surging demand for online advertising, TV subscriptions and internet access. The Thai market is forecast to have a compound annual growth rate of 7.3% over the next five years, the second fastest in Southeast Asia after Indonesia. This will contrast with much slower growth in developed markets, such as 4.8% in the US and 2.7% in Western Europe.  The US will remain the largest  market, reaching $723 billion in 2018 from $573 billion last year. China, Brazil, Russia, India, Mexico, South Africa, Turkey, Argentina and Indonesia are forecast to account for 21.7% of E&M revenue in 2018, up from just 12.4% in 2009. China will overtake Japan as the world’s second-largest E&M market behind the US in 2018 also.

The E&M industry will continue to grow significantly in Thailand buoyed by consumer demand in the fastest-growing areas: online advertising, TV subscriptions and licence fees, and internet access. Internet advertising revenue in Thailand, home to 18 million Facebook users, is among the fastest-growing in Asia. The country’s broadband penetration rate is expected to rise over the forecast period from 24% to 31%. Thailand’s internet advertising revenue is heavily driven by the growth of Facebook, the largest social media site in the country with more than 8.5 million users in Bangkok. It is expected to rise to $68 million in 2018 from $25 million last year. Higher mobile usage in Thailand will help to increase mobile internet access revenue from $466 million to $1.5 billion over the 2013–18 period.  Thailand’s number of mobile subscribers stood at 96.4 million in this year's first quarter, up from 87.3 million in the same period last year.

The other significant market segment that will boost Thailand’s E&M revenue is TV subscriptions and licence fees. Despite facing challenges of high levels of piracy, low disposable income and competition coming from free-to-air satellite service operators, there are some welcome signs that the market is picking up. Growth in low-cost services to compete with pirated content means cable penetration will likely increase, with 4.8 million subscribers forecast for the end of 2018, up from 2.2 million last year. The growth of cable is expected to drive the pay-TV market overall. By the end of 2018, there will be 6.8 million pay-TV subscribers in Thailand, representing 38.7% of TV households and generating revenue of $1.28 billion.

These forecasts were part of PwC’s Global Entertainment and Media Outlook 2014–2018 report which you can read about here.

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Vocabulary:

accommodate: to provide enough space for something or someone; to be able to deal with a particular amount of something - บรรจุ, จัดที่อยู่ให้

account for: to be a particular amount or part of something -

advertising: telling the public about a product or a service, political candidate, etc. in order to encourage people to buy, use or support it - การโฆษณา

annual: happening every year - ทุกๆปีด, ประจำปี

based: where the main work of an organisation, business, etc. is done or controlled - ซึ่งเป็นศูนย์กลาง

boost: to increase - เพิ่ม

budget: an amount of money able to be spent on something - งบประมาณ

buoy: an object that floats on top of the water to show ships and boats where it is safe and where it is dangerous -

buoyed: kept at a high level -

capacity: the amount of something that can be produced or done - ความสามารถในการ (ระบาย, ผลิต etc.)

challenge: something that needs a lot of skill, energy, and determination to deal with or achieve - สิ่งที่ท้าทาย, การท้าทาย

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

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

competition: a situation in which people or organizations compete, i.e., try to be more successful or better than somebody else who is trying to do the same as you - การแข่งขัน

compound: when the amount earned or increased in one period is added to the base that the percentage growth or increase is calculated from in the next period, which makes the increase even bigger -

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

content: the subject, ideas, or story that a piece of writing or a radio or television programme deals with - เนื้อหา,สาระ

contrast: a noticeable difference - ความแตกต่าง

demand: the need and desire of people to buy goods - อุปสงค์

demand: a very firm request for something - ข้อเรียกร้อง, การเรียกร้อง

developed country: a rich industrialized country - ประเทศพัฒนา

disposable income: income left after taxes, etc. have been taken away from it and that you are free to spend or save - รายได้ที่จับจ่ายได้

drive: to force something to go in a particular direction or into a particular position by pushing it, hitting it, etc - ตี, ผลัก,ผลักดัน

driven by: caused by -

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

entertainment: fun; behaviour or activities that are not serious but come from a sense of enjoyment - ความบันเทิง, ความสนุกสนาน

estimated: thought to be a particular amount, size, etc. based on a guess or the best information available - ประมาณการ

expand: to make or become larger - ขยาย

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

facility: a building, equipment, etc., used for a particular purpose - โรงงาน, สถานบริการ, สิ่งก่อสร้าง, สิ่งอำนวยความสะดวก

fee: an amount of money that you pay to be allowed to do something - ค่าธรรมเนียม

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

fuel: any material that produces heat or power, usually when it is burnt - เชื้อเพลิง

generate: to produce - ผลิต, ก่อให้เกิด

glove: a piece of clothing that covers your fingers and hands - ถุงมือ

growth: economic growth, an increase in economic activity - การเติบโต

handle: to be able deal with a situation - ควบคุมได้, จัดการได้

high-tech: using the most modern methods and machines, especially electronic ones - ซึ่งใช้เทคโนโลยีชั้นสูง

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

improvement: when something gets better or when you make it better - การปรับปรุง, การทำให้ดีขึ้น

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

junta: a group of military officers that governs a country, usually without having been elected - รัฐบาลทหาร

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

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

manageable: possible to deal with or control - จัดการได้,ควบคุมได้

manufacturing: making and producing a product ผลิต - การผลิต

margin: profit margin; the difference between the cost of buying or producing something and the price that it is sold for - ค่าแตกต่างระหว่างราคาทุนกับราคาขาย

market segment: products produced for a group of customers that have many things in common such as income or family size or age or location - ส่วนตลาด

massive: very large in size, amount or number - ใหญ่โต

media: radio, television, newspaper, the Internet, considered as a group - สื่อ

medical: connected with illness and injury and their treatment - ทางการแพทย์, ด้านการแพทย์, เกี่ยวกับการแพทย์

military: connected with soldiers or the armed forces - ในทางทหาร,เกี่ยวกับทหาร

monitoring: regularly checking something - การจับตาดู, การตรวจตรา, การเฝ้าระมัดระวัง

online: controlled by or connected to a computer or to the Internet - ออนไลน์, การเชื่อมต่อผ่านระบบเครือข่ายทางคอมพิวเตอร์

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

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

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

overtake: to become greater in number, amount or importance than something else - ตามทัน, ไล่ตามทัน

passenger: someone who travels in a motor vehicle, aircraft, train, or ship but is not the driver or one of the people who works on it - ผู้โดยสาร

peak: the time when something is at its highest or greatest level - ช่วงเวลาที่พบมากที่สุด

pick up: to gain in strength , go faster -

piracy: illegally copying movies, computer programs, etc. - การละเมิดลิขสิทธิ์

pirated: illegally copied - ละเมิดลิขสิทธิ์

plant: a large factory - โรงงาน

present: this time, happening now, happening currently - ปัจจุบันนี้

pressure: a force pressing against something - ความกดดัน

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

put on hold: to delay; to suspend; to stop for a period of time - ยกเลิกชั่วคราว, ระงับชั่วคราว

rate: the level or speed at which something happens or changes, or the amount or number of times it happens or changes in a particular period - อัตรา

relieve: to help improve a bad situation - ผ่อนคลาย, บรรเทา

represent: to be an example or expression of something - แสดงให้เห็น, เป็นเครื่องหมายของ

revenue: income from taxes or business activities - รายได้

review: the process of studying or examining a situation, policy, or idea again in order to decide whether it is suitable or satisfactory - การทบทวน

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

satellite: an electronic device that is sent into space and moves around the earth or another planet. It is used for communicating by radio, television, etc. and for providing information - ดาวเทียม

scrutinise: to look at or examine somebody/something carefully - พินิจพิเคราะห์, พิจารณา, ตรวจสอบ

shoulder: to deal with or accept something difficult - แบกรับภาระ หรือสถานการณ์

shut: close - ปิด, ปิดไว้, ทำให้ปิด

sign: an event, an action, a fact, etc. that shows that something exists, is happening or may happen in the future - สัญญาณ

significant: important - สำคัญ

significantly: in an important way - อย่างมีความหมาย, อย่างสำคัญ

state: government - รัฐบาล

subscriber: someone who pays money to an organization in order to receive a product, use a service regularly or support the organisation - ผู้ใช้บริการ

subscription: an amount of money that you pay regularly to receive a product or service or to be a member of an organization - การบอกรับเป็นสมาชิก

surge: a sudden increase in something - การเพิ่มขึ้นอย่างรวดเร็ว

throng: a crowd or large group of people - ฝูงชน, ประชาชนจำนวนมากที่มาชุมนุมกัน, กลุ่มคน

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

upgrade: to make a project, a piece of machinery, computer system, etc. more powerful and efficient - ยกระดับ

wastewater: water that has been used already and thrown away - น้ำที่ใช้แล้ว, น้ำทิ้ง

welcome: to be pleased to receive or accept something - รับด้วยความยินดี

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