What's new in business news: September 26, 2013
- Published: 26/09/2013 at 01:13 PM
- Online news:
Industrial estate flooded in Prachinburi, half barely pay minimum on credit cards & 63.7% of farmers say govt rice programme makes life better for them.
The Khun Dan Prakan Chon dam in Nakhon Nayok province is releasing more water to ease a recent increase in the dam level caused by persistent rainfall. THANARAK KHOONTON
Prachin Buri industrial estate falls victim to floods
Prachin Buri's 304 Industrial Park became the country's first major manufacturing site to be hit by floods this year after a nearby river burst its banks Wednesday. Officials were rushing to construct an emergency dyke made of large sandbags around the industrial estate to prevent floodwater inundating all of its 500 factories.
The water level in the Prachin Buri River rose to 9.80m, 80cm higher than the critical level. When the river burst its banks it immediately flooded areas in and around the industrial park including a factory making car airbags. The water level in the factory was about 40cm deep. As the water flowed into the factory workers desperately tried to move manufacturing equipment to higher ground while pumps were used to drain water from the plant.
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Farmers urge rice-pledging scheme continue
Farmers insist that the government should continue its rice-pledging programme with 63.7% of 1,228 farmers surveyed saying the government's rice-pledging scheme has raised the quality of life for their families.
Farmers say higher income helps ease their household debt while raising their spending capability and savings. Most of the farmers also admitted their production costs have risen accordingly, particularly for the rental fees of farmland. 35.2% of farmers believe the government should continue the programme for at least the next 3-4 years, while 22.8% want the government to scrap the programme only after rice prices surge
As many as 70.6% of respondents said despite farmers directly benefiting from the scheme Thai rice at higher prices makes it less competitive Farmers also threaten to launch immediate protests if the loss-ridden programme is scrapped.
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Half barely pay minimum for credit cards
As many as half the credit card holders polled by Abac are paying only the minimum amount due sounding alarms over the financial indiscipline of Thai consumers and deteriorating debt repayment ability.
Abac found that a quarter of the respondents hold credit cards, while 69.4% of them have at least two cards and 88.2% use both credit and cash cards. Respondents aged 25-33 are the biggest card user group, but those aged 40-60 use both credit and cash cards more than do other age groups. Electrical appliances account for the highest share of consumer hire purchase loans followed by mobile phones, computers and luxury items such as jewellery and watches, the poll found.
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About the author
- Writer: Jon Fernquest
Position: Assistent Manager Educational services