Weekly Column

Sunbelt Asia Weekly Column 6 January 2020

Sunbelt Asia Weekly Column

6 January 2020

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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.

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Bank of Thailand looking at measures to rein in Baht volatility

The baht, which was the best-performing Asian currency with an almost 9 percent gain against the US dollar in 2019, climbed above the 30-mark in pre-New Year trade before falling nearly 1.8 percent to below 30 baht to the dollar on speculation that the Bank of Thailand had intervened. Thailand’s foreign currency reserves and current-account surplus are key factors luring investors to the baht. Foreign reserves are at $US222 billion, while the current-account surplus was $US3.38 billion in November 2019. The currency fell to 30.15 against the dollar on Friday. The Bank of Thailand has already cut the policy rate in a bid to curb the baht’s climb and plan to form two committees to present to the cabinet for approval; an advisory committee for financial stability policy and a monetary committee for development

Large chains to no longer offer plastic bags

Starting from the first of January more than 90 giant retailers, department stores and supermarkets stopped handing out all types of single-use plastic bags to their customers after reaching an agreement with the Natural Resources and Environment Ministry to reduce plastic waste. According to the Minister, about 30 percent of plastic waste came from shopping malls and convenience stores, while fresh markets accounted for 40 percent of plastic usage. The campaign aims to reduce the use of single-use plastic bags by 50 percent this year.

Asoke area apart-hotel and restaurant

In the heart of the Asoke area, this well-reviewed apart-hotel is in a few minutes walk from Terminal 21 and both the MRT and BTS. The owner of this hotel has put in a lot of effort to boost its visibility in the year that it has been open and it generally reaches 85 percent occupancy.

This is a great opportunity to walk into a turnkey business. The location cannot be beat, and the rooms are comfortable and tastefully decorated. Every room has air conditioning and a safe, deluxe rooms have refrigerators, there are two family suites out of the 33 total rooms so the hotel can cater to every need.

The rooms are soundproofed from the restaurant downstairs which has earned a reputation for good food, friendly staff, and a chic industrial style. The business has a serviced apartment license and offers rooms by the month. Each room has key cards and a POS system. There are 6 more years on the lease with a monthly rental of 330,000 baht. There are 12 employees and wages of 180,000 baht.

NEW ASKING PRICE: 19,999,999 baht

Punnawithi area nail and brow salon

?Located in the thriving area of Punnawithi this well appointed nail and brow salon has only been in business for a year but sees an average monthly income of 150,000 baht and annual profit of around 350,000 – 400,000 baht.

The owner is actually living overseas and has no time to manage the business. There are 3 full time and one part time employees with a total monthly payroll of 48,000 baht.

There are five chairs in the 48 sqm space, rent on the cute location is only 12,000 baht a month. Inventory valued at 320,000 baht is included in the sale.

ASKING PRICE: 1.1 million baht

Pattaya hotel with license and long lease

This cozy 12 room hotel, boasts 10 fully furnished rooms all with en suite facilities and with large King size beds and a further 2 bedrooms with single beds above a restaurant serving both Thai and western cuisines, is a great opportunity to anyone wanting to run a business the heart of the city of Pattaya. At just 1.5 km away from walking street with the Big Buddha close by and all the major city attractions are just a short distance away.

Selling due to the owners needing bigger premises this hotel is priced to sell at 2 million baht.

With a lift to all floors and the current fixtures and fittings included in the sale, this really is a great solution for anyone wishing to start business immediately.

This hotel has all the transferable licenses required a long lease and 3 full time staff who are happy to remain should the new owners require. Viewing is a must!

ASKING PRICE: 1.5 million baht

Chiang Mai cloud hosting business

Currently rated as one of the top 10 cloud server providers in Thailand! This top rated cloud server provider is based in Chiang Mai Through a simple web interface customers can create, scale, and operate their cloud servers and pay only for the resources they use.

The hosting staff are highly skilled, loyal and independent making running this company with only 5 staff very easy to manage. With Cloud servers a growth market in Thailand the current owners see a minimum annual growth of 20%. With the customers paying in advance you will be able to focus on the business operations only as this business is highly automated. Order processing and invoice payments, for example, are fully automatic.

With more than 700 active customers and 14,000 non-active customers the business has a stable base. Customer retention is at more than 2 years (and increasing). The business is expanding its product base which will result in more revenue from the existing customers and re-gain non-active customers.
Sale includes full inventory comprising of 35 servers in total located in Bangkok. Excellent opportunity, priced to sell.

ASKING PRICE: 12 million baht

Licensed boutique Phuket hotel

This fully licensed boutique hotel, offers 4.5-Star accommodation to guests seeking peace and quiet in a beautiful setting just a short distance away from a major golf course and shops. The hotel sits on just under 1 rai of land (approximately 1,590 sqm). There are 7 rooms in total, one of which is currently being used by the owner, with luxury en suite bathrooms, WiFi, and smart TVs. The main buildings are in a traditional Thai architectural style, and have been constructed to an extremely high standard.

The villa is only 15 minutes from 3 of Phuket’s finest beaches, and the hotel offers a shuttle service to the beach each morning, as well as a pickup service. The resort also has bicycles which guests may use to explore the beautiful back roads of Cherng Talay, Laguna and Bang Tao. There is a massage sala at the rear which is also popular with guests. There is also land around the building that could easily be developed to add more occupancy. The business does well during high season with an occupancy rate of 77 percent.

ASKING PRICE: 30 million baht

Vegan restaurant in heart of Phuket Old Town

This well-reviewed vegan restaurant is set in the heart of Old Town Phuket and has earned rave reviews on vegetarian and vegan websites from satisfied guests.

The restaurant serves quality western food from a vegan only kitchen. Established in 2018 the business has earned a high profit in its first year as sales reached 4 million baht. It’s rare for a restaurant to do well in the first year but this restaurant serves a growing niche market that is dedicated to eating vegan.

The charming restaurant is 200 sqm and rent is 18,000 baht on a 3+3 year lease. There are six full time staff with a total monthly payroll of 80,000 baht. The owner is moving overseas and so is forced to sell the restaurant. This is a great business for someone who wants to walk into an established business on Phuket.

ASKING PRICE: 3 million baht

Samui PADI Dive school with licenses

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

Samui swimsuit factory and shops

This swimming suit business produces their own locally made “Fair trade” bikinis on Koh Samui and has four retail shops. With over 128 designs and over 30,000 swimming costumes already sold they hand make uniquely designed styles at a high-quality level.

Their business is supplemented with merchandise like bags, caps, flipflops from “Robin Ruth”, and other original brands in their shops, for Asians and foreigners, sizes are S until XL, a big range of European sizes, 34-48. There are 7 full time well trained employees who, having been with the company for some time, work independently in each shop. With an opportunity to obtain a work permit this is an attractive business for locals or foreigners.

Rent on site 1 & 2 is 85,000 THB per month, rent on site 3 is 60,000 THB per month, rent on site 4 is 10,000 THB per month and a security deposit will be required.

ASKING PRICE: 12 million baht


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