What's new in business news: August 20, 2014 | Bangkok Post: learning

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What's new in business news: August 20, 2014

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Fall onto BTS Skytrain track sparks safety concerns, Indonesia overtaking Thai car market & NCPO budget cuts risk hurting farmers & economic growth. 

Warunrat Kalphan, a digital TV news anchor, lies unconscious on train tracks at Mor Chit Skytrain station early yesterday morning. She fainted while waiting for a train and fell onto the rail tracks.

TRANSPORT

Fall onto BTS Skytrain track sparks safety concerns

Bangkok Mass Transit System Plc is considering installing barriers at all BTS Skytrain stations to prevent commuters falling onto rail tracks.

Early Tuesday morning Channel 3 SD news anchor Warunrat Kalphan fainted and fell onto BTS Skytrain tracks at Mor Chit station. She was helped up by BTS security guards and passengers before a train pulled into the station, and escaped with minor leg injuries. BTS security guards swiftly pressed an emergency stop button to alert incoming trains before rushing down onto the tracks to help Warunrat.

Passenger barriers have already been installed at nine stations and are in the process of being tested as part of a pilot project, including stations: Siam, Asok, On Nut, Phaya Thai, Victory Monument, Sala Daeng, Chidlom, Phrom Phong and Chong Nonsi. Mor Chit station is waiting to get new barriers between train platforms and tracks, pending the construction of the BTS extension due to be carried out shortly.

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AUTOMOTIVE

Indonesia overtaking Thai car market

Thailand's automotive industry faces a challenge from Indonesia to its status as the biggest car market in Southeast Asia. Car production in Asean's five manufacturing countries — Indonesia, Malaysia, the Philippines, Thailand and Vietnam — amounted to 4.43 million vehicles last year, up by 5% from 4.23 million in 2012. Car sales in Asean totalled 3.54 million, a rise of 2% from 3.47 million in 2012. Thailand sold 1.33 million vehicles last year, down 7%, while Indonesia sold 1.22 million, up 10%.

Last year Thailand was the regional leader in every aspect of the automotive industry: production, domestic sales and exports, producing 2.46 million vehicles, while Indonesia produced 1.2 million. Thailand has 18 car makers with a maximum production capacity of 2.85 million vehicles, while it has a supply chain of auto parts makers of more than 2,300. Last month, the 2014 forecast for Thailand's automotive output was cut from 2.4 million vehicles to 2.2 million and domestic sales to 1 million from 1.2 million, while exports stand firm at 1.2 million vehicles. Pickup truck sales are forecasted to contribute 55-58% of domestic sales against 44.2% in 2013, while passenger cars are expected to drop to about 40% from 47.4% last year in the wake of the first-time car buyer scheme. Several multipurpose vehicles in the Thai market are also imported from Indonesia.

Indonesia's government has a roadmap to produce 4.18 million vehicles by 2025 and is expected to produce 1.61 million vehicles by 2015 and 2.60 million by 2016. The automotive industry of Indonesia has had a compound average annual growth rate of 15% since 2010, while Thailand has had only 10%. However, Indonesia has cut its production forecast this year to 1.3 million vehicles from 1.4 million due to slowing demand in the country.

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GOVERNMENT SPENDING

NCPO budget cuts risk hurting farmers & economic growth

The Democrat and Pheu Thai parties have raised concerns over the 2.57-trillion-baht 2015 budget from which the junta sharply cut the budget allocation for the rural economy. Democrat leader Abhisit Vejjajiva said Tuesday a major concern is that the National Council for Peace and Order (NCPO) has decided to halt farm product subsidies and budget allocations for other populist projects such as the village funds. "This could disrupt the circulation of money in the economy, further lowering purchasing power, particularly of farmers who have already been hit by low crop prices," he said.

The NCPO earlier ordered the termination of the Small-Medium-Large (SML) village fund project, initiated by the Thaksin Shinawatra administration, which required 5.7 billion baht in the 2015 fiscal budget; the fund project to assist community enterprises which required 3 billion baht; and the Regional Urban Development Fund which required 1.2 billion baht. Mr Abhisit called on the NCPO to review its policy of ending agricultural product price intervention since it would have severe effects.

The key problem of the 2015 budget is that huge expenditures must shoulder the added burdens of populist policies.  Fiscal burdens from the rice-pledging scheme are massive at over 300 billion baht, he said. A budget needs to be set aside for compensation for a further three to four years. As much as 71 billion baht of the budget was earmarked to compensate the Bank for Agriculture and Agricultural Cooperatives (BAAC) which paid in advance for rice-pledging scheme debts. Forty-two billion baht was set aside to repay the treasury reserves which were earlier used for the first-car subsidy scheme.

Mr Abhisit called on the NLA's vetting committee to cut the budgets of individual projects by 10-20%. He pointed out that the NCPO chief once said this is possible if graft in government procurements was controlled. The budget money saved could be allocated to support rural economic stimulus projects to build infrastructure instead.

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Vocabulary:

administration: government - รัฐบาล

agricultural: of the science or practice of farming - ที่เกี่ยวกับเกษตรกรรม

alert: a warning to people to be prepared to deal with something dangerous - การเตือนให้ระวัง

allocation: an amount of or share of something, in this case, the national budget - การแบ่งส่วน

anchor: a man or woman who presents a television or radio programme, especially the news - ผู้ประกาศข่าว

annual: happening every year - ทุกๆปีด, ประจำปี

aspect: one part of a situation, problem, subject, etc - ด้าน,มุม

assist: to help - ช่วย

automotive: related to cars and the automobile industry that makes cars, trucks, etc -

average: an amount calculated by adding several amounts together, finding a total, and dividing the total by the number of amounts - เฉลี่ย, ค่าเฉลี่ย

barrier: a bar or gate that stops people, animals or vehicles from entering a place - สิ่งกีดขวางทางผ่าน

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

burden: a serious or difficult responsibility that you have to deal with - ภาระ

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

carry out: to do something, to finish and complete a task - ทำให้สมบูรณ์, ทำให้สำเร็จ

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

circulation: the passing of money from one person to another - การหมุนเวียนของเงินสด, กระแสเงิน

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

community: the people living in one particular area - ชุมชน

commuters: people who regularly travel between work and home - คนเดินทางระหว่างบ้านและที่ทำงาน

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

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 -

consider: to give careful thought to something before making a decision - พิจารณา

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

contribute: add to -

cut: reduce, decrease - ลดลง, ทำให้น้อยลง

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

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

disrupt: to interrupt something and prevent it from continuing by creating a problem - ได้รับการกระทบกระเทือน  ถูกทำให้หยุดชะงัก

domestic: inside the country being talked about - ภายในประเทศ

due to: because of - เนื่องจาก

due to: scheduled to - มีกำหนด

effect: a change that somebody/something causes in somebody/something else; a result - ผลกระทบ

emergency: an unexpected situation involving danger in which immediate action is necessary - เหตุฉุกเฉิน

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

escape: to get away from a place where you are in danger - หนี

estimate: an amount that you guess or calculate using the information available - ประมาณการ

expenditure: money spent by a government, organization, or person - การใช้จ่าย (เงิน)

export: something sold and transported to another country - สินค้าออก

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

faint: to suddenly become unconscious for a short time, and usually fall to the ground - เป็นลม

fiscal: connected with a budget; connected with the government budget, i.e., public money - เกี่ยวกับงบประมาณ

forecast: to say what you think will happen in the future based on information that you have now - ทำนาย, ทาย, พยากรณ์

graft: corruption - การฉ้อโกง

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

halt: to stop - หยุด

huge: very large - ใหญ่โต

in advance: before the time that is expected; before something happens - ล่วงหน้า

in the process of: currently working on .... -

in the wake of: happening after an event or as a result of it - สืบเนื่องมาจาก

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

initiate: to make something start - ริเริ่ม

injury: physical damage done to a person or a part of their body - อาการบาดเจ็บ

install: to put a piece of equipment somewhere and make it ready for use - ติดตั้ง

intervention: a situation in which someone becomes involved in a particular issue, problem, etc., in order to influence what happens - การแทรกแซง

key: most important - ที่สำคัญ

manufacturing: making and producing a product ผลิต - การผลิต

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

maximum: the most possible - ที่สูงสุด ที่มากที่สุด

minor: not important; small; having little influence or effect - เล็กน้อย

output: the amount of something produced - ปริมาณ(กระแสไฟฟ้า)ที่ผลิตขึ้น

particularly: especially, or more than usual - โดยเฉพาะ

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

pending: waiting to be dealt with, settled or completed - ยังค้างอยู่, ซึ่งยังไม่จบสิ้น, อยู่ในระหว่าง

platform: an area next to a railway track where passengers get onto and off trains - ชานชาลา

policy: a set of plans or action agreed on by a government, political party, business, or other group - นโยบาย

populist: related to the type of politics that claims to represent the opinions and wishes of ordinary people or to support programmes that will benefit the ordinary people - ประชานิยม

prevent: to stop somebody from doing something; to stop something from happening - ขัดขวาง, กัน, กีดขวาง

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

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

purchasing power: buying power; the ability to buy things, i.e., having enough money to buy things - กำลังซื้อ

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

regional: of or relating to a region - เกี่ยวกับภูมิภาค

reserve: something currently not being used but that can be used when needed - สำรองไว้

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

rice-pledging scheme: a government programme in which farmers sell rice to the government at a particular price, with the right to reclaim the rice if the market price goes higher - โครงการจำนำข้าว

roadmap: plan -

rush: moving or doing something very quickly - การรีบเร่ง

scheme: a plan that is developed by a government or large organisation in order to provide a particular service for people - แผนการ โครงการ

security guard: a person who checks people's bags or watches over a building at night to make things safe - ยาม, คนเฝ้าสถานที่ หรือระวังเหตุการณ์ตามกำหนดเวลา; ผู้เฝ้าประตู, บุคคลที่คอยมุ่งเอาใจใส่หรือดูแลการเข้า-ออกของผู้คนอยู่ที่ประตู

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

severe: very serious and worrying - ที่รุนแรง ที่น่าเป็นห่วง

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

stand firm: not change at all -

status: position - สถานภาพ

stimulus: a set of programmes, especially government spending programmes, designed to start an economy growing again - แผนกระตุ้นหรือฟื้นฟูเศรษฐกิจ

subsidy: an amount of money that a government or organisation pays to help to reduce the cost of a product or service - เงินชดเชยที่รัฐเป็นผู้จ่ายให้

supply chain: the series of processes involved in supplying a product to someone, including the companies that manufacture all the parts going into a product - โซ่อุปทาน, สายโซ่อาหาร, ห่วงโซ่อุปทาน

swiftly: quickly - อย่างรวดเร็ว

termination: the act of ending something -

track: the two long metal strips that a train travels along - รางรถไฟ

urban: connected with towns and cities - เขตเมือง

vehicle: a machine that you travel in or on, especially one with an engine that travels on roads, e.g., a car, bus, van, truck, etc. - ยานพาหนะ

vetting: examining something or someone carefully to make certain that they are acceptable or suitable - ตรวจสอบ

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