Weekly Column

Sunbelt Asia Weekly Column 4 October 2019

Sunbelt Asia Weekly Column

4 October 2019

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Concerned about the new excise tax for entertainment venues?

The latest excise tax has many in the food and beverage industry concerned and a little confused. Sunbelt Asia has been retained by some of the largest food and beverage clients in Thailand. We specialize in the excise tax and all related matters, if you are an entertainment venue with concerns regarding the implementation of the excise tax don’t hesitate to get in touch with our senior lawyers who specialize in this area. Please call (+66) 02-662-7004.

Looking to start your own business and overwhelmed by the information?

There are quite a few options available to you including BOI, Limited Company and more. We can assist you in finding the right fit for your business ideas.

More online

18 Foreign Companies granted licenses in September

Eighteen foreign companies were granted licenses in September, six are in business services IT, accounting, financial, organization development, five are in consumer services: e-payment, e-recruitment software, equipment renting, five are in private construction contracting and two in retail. The Department of Business Development has granted licenses to 155 foreign companies since the start of the year generating more than 21 billion baht worth of investment. Most of the companies are from Japan, Hong Kong and Singapore. Interested in starting your own business? Give us a call (+66) 02-662-7004.

GDP expected to grow, gems and jewelry exports leap

The National Economic and Social Development Council (NESDC) expects the economy to grow in the third quarter and exceed the 2.3 percent year-on-year figure from the second quarter, supported by the government’s stimulus package, growth in the tourism sector and exports. Gems and jewelry exports leaped 45.81 percent year on year in the first eight months to US$11.452 billion (351 billion baht), gold accounted for US$6.212 billion, an increase of 107.16 percent year on year. Southeast Asia has been the biggest market for jewelry and gems exports growing 190.9 percent, Singapore had the most growth, seeing exports to the country rise to 307 percent.

Cabinet Approves Bill to Inspect Overseas Money Transfers Over 50,000 Baht

The Cabinet approved a draft bill proposed by the Anti-Money Laundering Office (AMLO) to inspect electronic transactions exceeding 50,000 baht in a move to combat money laundering and financing of terrorists. Financial institutions and businesses that fall under the Anti-Money Laundering Act’s Section 16, including gem dealers, car dealers or real-estate brokers must undergo assessment. Individuals who send more than 50,000 baht overseas and the recipient will have to provide their identification and information to banks before the transfer is completed.

Budget Guesthouse and Restaurant near MRT

This restaurant and guest house business offers budget rooms in the Din Daeng area of Bangkok, a short walk from the MRT station Phra Ram 9

Comprising of beds for guests in air-conditioned rooms and a busy Thai restaurant this is a great opportunity for someone looking to expand an already operating business. In a nice busy nostalgic location, this is one of those local Thai areas that are sadly in decline as Bangkok heads for the sky with new condo developments. These locations are rich in history so therefore add to their charm.

The business advertises in Air BnB only and has good occupancy rates.

ASKING PRICE 1.8 million baht negotiable

Soi 11 Restaurant

Located in the prime night life area of Bangkok on Soi 11, this beautiful restaurant and bar has done very well, earning a good reputation for quality food. The premises is fully fitted out with all top quality equipment and the large space, which can hold more than 200 seats, also has a VIP room. There are 28 full time employees including a General Manager with a total monthly payroll of 750,000 baht. The fully licensed company will be sold along with all licenses and the lease deposit of 1 million baht. Sales last year reached 60 million baht with a profit of 7 million. The company has registered capital of 6 million baht.

The owner is looking to retire and move to the beach so now is the time to take over this turnkey popular business.

UPDATED ASKING PRICE 34 million baht

Bottled Water Company in Chonburi

This company’s mineral water is bottled from 100% natural water from the Khao Kheow Mountains in Chonburi – considered as natures best quality filter with its valley surroundings that filters rain water from the top of the mountain all the way underground through the mineral rocks making this water rich in natural minerals and quality.

Currently needing an investment, due to the owners obtaining a new contract agreement to produce mineral water and ice cubes and distribute throughout Thailand, this is a huge offer and a big plus to any new owners.

New equipment and more human resources will be required for this expansion and the owners now wish to sell their company offering this exciting development stage and all the company’s assets and reputation to new owners who seek a challenge to expand this profitable business.

With a huge global demand on pure bottles of water, the bottled water business is booming!

ASKING PRICE: 35 million baht

Dive Center on Samui Island

Always wanted to run your own dive business on a tropical island? Well here is your chance to take over a well-established dive school on Koh Samui. The business has developed a good reputation and has seen revenues and profits increase every year for the past five years.

The rent on the premises is 55,000 baht and has two training rooms and a training pool for new divers and is in a central location for tourists and visitors to easily access on the main ring road. There are 11 employees, total annual wages last year were 3.466 million baht and total expenses of 15.6 million baht. The business saw 18.16 million baht in revenues and a total profit of 2.5 million baht last year.

All licenses are included and includes inventory valued around 9 million baht. Furniture, fixtures and equipment are valued at 800,000 baht and included in the sale.

The owner is moving back to his home country so wishes to sell the business

ASKING PRICE: 11 million baht

Events Organizer Business

Events are an active and growing business in Thailand and a well-organized and well established events business can go far. This is your opportunity to buy into a long-running and well-known business that has been in business since 1994 and has a list of loyal clients.

The company handles corporate groups that come to Thailand for conferences, gala dinners, corporate team-building and events. Their client list consists mainly of five star hotels and travel agents.

There are 6 full time staff while the current owners handle sales and accounting. Freelancers and sub-contractors are added to the team to handle an average of 50 events per year all over Thailand. The company rent offices and a warehouse in town, with the contract renewable annually. Last year sales reached 25 million with four million baht in profit.

The owner wishes to retire soon but plans to remain available to assist the buyer in the handover period.

ASKING PRICE: 6.6 million baht

Beautiful Teak Restaurant in Chiang Mai

This beautiful teak wood Lanna style building is open air and centrally located on the river in Chiang Mai, with stunning river views. Established in 2010, the massive building has 10,000 sqm, over two floors and can seat 220 people. Popular with tourists and locals alike, the restaurant has 40+ full time employees with monthly wages of 500,000 baht.
Well-reviewed, the business saw sales of around 35 million baht last year with a profit of 6-7.5 million baht. The new owner will need to pay key money of 9 million baht for the 9 year lease. Rent on this beautiful building that also has a large car park is 240,000 baht

The owner is seeking to sell the business as he seeks other directions in business.

ASKING PRICE: 22 million baht

Phuket Restaurant Near Beach in Phuket

This highly rated restaurant is located near the beach in Phuket, with the opportunity to add a lakefront dining area, this restaurant has huge growth potential. Set in a tropical, open air pavilion, this restaurant has received rave reviews. The owner invested 30 million baht in this large restaurant that seats 150 people. Including a fun club vibe, the business has a swimming pool as well. The business has seen about 35 million in revenues. There are between 20-40 employees and a monthly rent of 160,000 baht. Furniture fixtures and fittings valued at 7 million baht are included in the sale. The owner is looking to sell far below their investment at 18 million baht.

This is a great opportunity for someone looking to walk into an ongoing popular restaurant in Phuket.

ASKING PRICE: 18 million baht

Koh Samui Bar and Restaurant in Chaweng

Located in the most popular area of Koh Samui, this Chaweng bar and restaurant was established in 2017 and has been earning good reviews. The restaurant is over two floors with a total of 600 sqm and a fully fitted out kitchen and restaurant area. The rent on the location is 375,000 with a renewal in 2022. There are 40 full time employees with a total monthly payroll of 600,000 baht. The business has seen sales of nearly 31 million baht annually and a profit of 500,000 baht. The current owner is moving back to Bangkok and so is looking to sell this business. This is a turn key business for someone who wants to live on paradise island.

ASKING PRICE: 13 million baht


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