Weekly Column

Sunbelt Asia Weekly Column 5 October 2018

Sunbelt Asia Weekly Column

5 October 2018

Sunbelt Asia will be closed Monday August 15 to honor the anniversary of the passing of HM King Rama IX. This is a public holiday and government offices will be closed.

The Finance Ministry is expected to issue licenses for digital assets management later this year or early next year after the Securities and Exchange Commission received applications in mid-August. The SEC is expected to review the applications for two months before submitting the applicants to the Finance Ministry for review and issuance of licenses. Six companies are seeking licenses as digital assets exchanges and two for digital assets dealers. Although the SEC is still assessing the applications, they are allowed to continue to operate since they submitted their requests within 90 days of the Royal Decree on digital assets in mid-May. Some Thai securities firms have shown an interest in partnering with digital assets exchanges and after the licenses are issued the market is expected to grow if financial regulators allow institutional investors to invest in them.

AIS customers, Rabbit Line Pay users, and Thai Kbank account holders will now be able to make QR code payments from their digital wallets in both Singapore and Thailand after Singtel teamed up with AIS, Kbank and Rabbit Line Pay to allow payments at all merchants displaying the VIA brand and 1.6 million Thai merchants displaying the Thai QR code. This is the first of its kind, allowing both telecommunications firms wallets and non-telco mobile wallets across borders. Singtel plans on expanding the partnership to include Indonesia, the Philippines, and India.

The World Bank raised its forecast for Thai economic growth to 4.5 percent, 0.4 percent higher than originally forecast in April on the back of a faster pace of public spending on major infrastructure projects and strong exports. In August exports reached US$22 billion, a 6.68 percent rise year on year. Exports have grown an average of 6.7 percent over the last year and a half and the Thai National Shippers Council predicts they will reach 9 percent this year. Although exports to China are down slightly, they have \ have been growing steadily to Asean, CLMV (Cambodia, Laos, Myanmar, Vietnam), India, and South Asia. Agricultural goods such as fruit and rice, and manufacturing goods including cars are Thailands main export items.

Thai Immigration has begun taking applications for Permanent Residency – applications will be accepted until December 28, 2018. Applications are limited to 100 people per nationality, those countries with several states, such as the United Kingdom, are considered as one country. Sunbelt Asia legal advisors can assist you in collecting all required documents showing your contribution to society, ensure all your Thai-language company documents are correct and complete and handle translation of documents. The process is rather complex so if you are interested in obtaining Permanent Residency contact us now to get the process started;

Special offer on serviced officesWe are offering two types of serviced offices available at a special promotional deal
Office with space for two staff at 9,500 baht a month

Office with space for three staff at 11,000 baht a month

Happy anniversary from all of us at Sunbelt Asia!!
A “Thank you” gift for our clients new and old!
Sunbelt Asia has been offering our excellent service to our clients for 15 years! As our 15th anniversary gift we would like to offer our professional services on retirement and marriage visa extensions at the very special reduced rate of 7,500 baht as a thank you to our clients new and old for their support over the years.

Sunbelt Asia Legal Advisors can handle all your legal and business needs; from visas to work permits, prenuptial agreements to divorces, condo purchases and wills.

Be sure and contact our English speaking
legal advisors
for all your legal needs

We at Sunbelt Asia see many of our clients regularly ask us legal questions regarding living and running a business in Thailand. To help out we have set up a FREE Expert Answers for Your Questions in Thailand Facebook page;
Sunbelt Asia Facebook Expert Advice Page

Please feel free to contact us if you are in Thailand on (+66) 02-662-7004 to discuss any of these listings.

Importer and Distributor of Wholesale Foods

This import and distributor of wholesale foods was established in 1999 and provides high quality imported products for Thai retailers, wholesalers, and industrial users. The business is a direct importer and distributor of fresh produce and other unique food products from both local and overseas manufacturers and suppliers. The business also has four company-owned retail outlets located in wholesale markets. The company has seen local gross sales average 360 million baht a year, export gross sales average 50 million baht a year and retail gross sales average 120 million baht a year with total gross revenue average 120 million baht a year.

The owner will assist the new owner for one month and would be willing to be on call for a mutually agreed upon extended period of time to introduce all customers, suppliers, and business prospects as well as provide all information and documentation. The owner is retiring and so is selling this profitable company, the new owner could see a return of investment in 4 to 5 years.

ASKING PRICE: 90 million baht

Sukhumvit Guesthouse Near BTS Station

This guesthouse is in a great Sukhumvit location, just 10 minutes walk from the BTS station with 19 rooms, some en suite, others shared bathrooms. Although it opened 13 rooms in the shophouse style building in July 2018, the business has already seen steady income and a small profit in the first two months. With new rooms just opened, incomes should increase, however, the owner has no time to manage the business. A dedicated owner with time to market and manage the business should see this guesthouse do very well.

There are 21 total rooms, including the staff room and store room, and the 3 year lease and plus 3 years option has a monthly rental of 70,000 baht. The rooms are basic but with everything new, the place has already garnered good reviews. There are two staff with a monthly salary of 24,000 baht. All fixtures, fittings, and equipment are included in the sale.

ASKING PRICE: 1.5 million baht


Healthy Beverages Manufacturer – Online Business & Retail Shops

Taking advantage of the healthy lifestyle market, this business offers vitamin water enhancers in 18 small retail shops as well as in major e-tailers like Lazada and Shoppee. The company has also been involved in marketing the business widely at booths and other events and has received great feedback from customers.

The business was established in 2016 and has two full time and three part-time employees with a total monthly payroll of 18,000 baht. The business is in a 200 sqm space with a monthly rent of 14,000 baht.

The owners found themselves stretched after such a rapid expansion and are selling as they find they do not have enough capital to expand into the supermarkets and hypermarkets despite having the connections and interest. With the right backing this product could be quite successful. The sellers are willing to support the new owners after the sale.

ASKING PRICE: 3.5 million baht

Popular American Franchise in Busy Mall

This top American franchise business is located in the food court of a popular and busy mall in Northwestern Bangkok.

The business has been opened for a year now but the owner needs to sell as his other businesses take up too much of his time to manage this one. Located in a top spot int he food court of a busy mall this business is great for someone who wants to take up a well-known and popular franchise in a busy area.

Rent is 17 percent of gross profit and the space is 25.60 sqm There are four full time employees with a total monthly payroll of 25,000 baht a month.

A new owner with more time to dedicate to this business could easily grow sales which topped 3 million in the first year. The sale price does not include the franchise fee or deposit with the supplier

ASKING PRICE 2.5 million baht

Home decor factory and showroom

This long running home décor business has been manufacturing lamps since 2004 and has built up a good reputation for design and quality. The unique and beautiful designs are used in lighting and other fixtures as well as home décor and the company has become known as a leading designer of natural lamps and light designs.

The factory is 7,000 sqm and has a renewable three year lease with a monthly rent of 176,000 baht. The security deposit is not included in the sale. There are around 65 employees with a total monthly payroll of 1.1 million baht

The Thai Limited company is included in the sale but inventory is excluded. Fixed assets including equipment, computers, tools, company truck and leasehold improvements are included in the sale. Also included are the product designs, and showroom with samples. Remaining inventory can be purchased at cost. Sales have reached 70 million baht with a total profit around 20 million baht. The owners are moving back to their home country and so which to sell the business.

ASKING PRICE 33 million baht

Executive Apartment in Busy Rama 9 Area with Land

In the heart of the booming Rama 9 area, this executive apartment building is located in Ratchada and is only a ten minute walk from the MRT Station. The sale includes not just ownership of the building but of the 200sqw land the building is set on which is a rare find these days.

The apartments have high occupancy reaching 98 percent all year round. There is a gym and elevator and a regular steady clientele of residents that work in nearby offices. Sales last year reached 12 million baht with a profit of 8 million baht. The value of the land and building alone are over 80 million baht. The owner is moving overseas and is forced to sell this profitable business.

ASKING PRICE: 210 million baht

Well-known Bottled Foods Factory in Central Thailand

This well-known bottled foods factory was established in Chainat in 2006 and distributes to major grocery store chains in Bangkok and across the country. With a presence in every region around Thailand, this well-known food production business has new products on deck and offers huge growth potential for the energetic new owner.

There are four full time and four part-time employees with sales around 1.8 million a year and a profit of 600,000 baht a year. All licenses are included in the sale as well as distribution arrangements. The owner is selling due to personal reasons unrelated to the business.

ASKING PRICE: 5.5 million baht

Construction Contracting Business in Rayong

Take advantage of the huge boom in the Eastern Seaboard with this construction contracting business. The company offers services across the board including metal fabrication, insulation, construction and manpower. The company has been in business since 1997 and has earned a good reputation for quality work and has many large companies as customers including those in the gas, oil and chemical fields. This is a good business for someone looking for a turn key business that has a steady stream of customers.

The business is well-run and has 40 experienced full time employees with a total monthly payroll of 900,000 baht. Sales last year reached 50 million baht and net profit is around 10 percent. The company is established in the busy area of Rayong and the 10 rai of land the business is on is included in the sale. The land is market valued at 15 million baht.

The owner is moving back to his home country and so is looking to sell this well-established ongoing business.

ASKING PRICE: 33 million baht

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