Weekly Column

Sunbelt Asia Weekly Column 9 March 2018

Sunbelt Asia Weekly Column

9 March 2018

The Bank of Thailand announced last week that new banknotes that bear the portraits of His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun will be put into circulation on April 6. The new banknotes will come in three denominations; 20, 50, and 100 baht, with the second launch of 500 and 1,000 baht notes due on July 28, the birthday of HM the King. The new banknote will feature a portrait of His Majesty the King in the uniforms of the Royal Thai Air Force and will be the same size and dimension as older banknotes featuring the late King Rama IX.

A new air-conditioned train will run from Bangkok to Pattaya starting on March 17 and will run until September 30 in a trial to promote the tourist destinations such as Si Chang Island, Khao Kheow Open Zoo, Sri Racha Tiger Zoo, Japanese Park, Sri Racha and Koh Loi. The number 997 train will depart Hualumphong at 6.45 am and arrive at Pattaya at 9.13 am, and Plutaluang at Satthahip at 9.59am. The train will stop at Makkasan, Klongtan, Hua Mark, Lat Krabang, Hua Takhe, Chachoengsao junction, Chon Buri, Sri Racha, Pattaya, Pattaya Floating Market), Yan Sangvararam, Nong Nooch Pattaya Garden, and Plutaluang. The return trip will see train number 998 depart Plutaluang at 3.50pm, and arrive at Bangkok station at 6.55pm. The train fare will be 170 baht from Bangkok to Plutaluang. At the Pattaya station, there will be pickup truck and Tuk Tuk service from the station to Pattaya beach and Balihai Bay for tourists wanting to take boat service to Koh Larn Island, the floating market and Nong Nooch garden. Reservation for seats on the Sprinter train from Bangkok to Plutaluang station can be made 60 days in advance, while from Bangkok to Chachoengsao junction, reservation is allowed only two days in advance.

The Cabinet approved a proposal to turn a stretch of the west coast around Hua Hin into the “Thai Riviera” and will cover Petchaburi, Prachuap Khiri Khan, Chumphon and Ranong. The government plans on developing tourist destinations in these provinces for high-end tourists. here were 13.92 million visitors to the region, generating 52.22 billion baht in revenue in 2017. There were 6 million visitors to Phetchaburi in 2017, 5 million to Hua Hin, 4.2 million to Prachuap Khiri Khan, 1.29 million to Chumphon and 908 visitors to Ranong with most visitors making Hua Hin their hub. The construction of the double-track rail route from Nakhon Pathom-Hua Hin-Prachuap Khiri Khan and Chumphon has already started and infrastructure projects will be developed to connect the Gulf of Thailand with the Andaman Sea.

The Customs chief weighed in on the latest announcement in regards to declaring phones, laptops and other electronic items when leaving the country noting that it was not compulsory and that the 20,000 baht exemption, which was put in place a few years ago to replace the 10,000 baht exemption, had been in force in the Thai Customs Act. The new notification was simply because a new customs law was passed in 2017 that replaced the old 1926 Customs Act, but the regulation was still the same one. The Customs Chief added that Customs is generally flexible and only prosecutes if it appears the goods are for re-sale and not for personal use.

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

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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.

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Be sure and contact our English speaking
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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.

Manufacturer of massage tables in Bangkok includes land

This factory makes massage tables and other furniture in Bangkok and sells their furniture to hotels, resorts, and spas overseas and in Thailand. In business since 2000 the company has built up a good reputation for quality items and a good client list.

The business has 11 full time and 3 part time staff with a total monthly payroll of 145,000 baht. Sales are around 8-10 million baht a year with a profit of around 40 percent. The business owns the land which is included in the sale. The 300 sqw property holds the factory and a building with a total of 560 sqm. The price of land and rents in Bangkok continue to so this is a great opportunity to own your own property.

The owner is retiring and so wishes to sell the business as well as the land and property.

ASKING PRICE: 35 million baht

Chic Thonglor hostel with 41 beds, family rooms

A chic and modern hostel with five dorm rooms and two VIP bedrooms with en suite bathrooms is now available in the popular Thong Lor neighborhood. The business also has a bar and restaurant on the ground floor and has a total of 41 beds and has earned reviews on Trip Advisor and booking sites.

The hostel has a three year lease and a monthly rent of 84,000 baht. Sales reach around 2.5 million baht a year with profits at about half a million. There are five staff members with a total monthly payroll of 40,000 baht. The owner invested more than 9 million baht in fitting out the building but is looking to sell quickly as he has another business to work on.

ASKING PRICE: 4.2 million baht

Exclusive Sukhumvit Chef’s table style restaurant

In a great Sukhumvit location, this restaurant offers an unusual setting for diners; a true chef’s table with diners who come for the excellent food and unique atmosphere. The restaurant has earned rave reviews for its top notch menus and has been covered by several Thai foodie magazines. Diners are required to make reservations in advance for this exclusive venue.

The rent on this 60 sqm space is only 30,000 baht a month, a steal for this part of Bangkok. The business has a parking lot as well, a rarity in this town, sharing the ten-car car park with a coffee shop next door.

There are three employees with wages of 59,000 baht and month and sales reach 800,000-1,000,000 baht per month with a monthly net profit of 400,000 baht.

The owner is looking to do a bigger project and so is looking to sell.

ASKING PRICE: 1.8 million baht

Snack shop in busy Rama 9 area

This charmingly decorated small shop is in a busy area filled with offices in the booming Rama 9 neighborhood. With a great location and near a Starbucks, this shop offers ready made snacks to go, spicy salad, salad rolls and more. There are also 8 seats for some eat in customers. The business has only just started and already sells 4,000 – 5,000 baht a day. A small franchise, this business is turn-key ready for someone looking to walk into a business that can easily grow.

Rental on the 10sqm shop is only 13,500 baht a month, great for this popular location. There are two staff with monthly wages of 24,000 baht.

ASKING PRICE: 880,000 baht

E-commerce food and beverage site

This e-commerce site takes advantage of the booming online shopping trend in Thailand. Established 3 years ago this e-commerce food and beverage marketplace is ready for a keen buyer to grow even further. The current owners have already established many of the customers and vendors required to get the business growing but the opportunities in growing this business are huge.

The business has five employees with a total monthly payroll of 50,000 baht and the office rent on upper Sukhumvit is only 14,000 baht a month. Setting up an e-commerce site takes a great deal of time to grow the business and this business has broken even and is expected to start turning a profit next year as the hard work has already been done. Revenues last year reached 13.4 million baht; the business does not hold any stock but connects with the vendor who delivers to the customers directly.

ASKING PRICE: 5.5 million baht

Top-rated Samui dive school and charter boat business

This top -rated and highly reviewed dive school is located on Koh Samui and has been offering high quality, environmentally aware dive and marine tours and dive classes since 2002. Well reviewed on TripAdvisor the business offers exclusive high end daily joint trips and private charter snorkeling and diving speedboat tours to the best destinations in the Gulf of Thailand. The region’s first Scubapro Partner Centre, the award winning PADI 5 Star Dive center has garnered rave reviews and great word of mouth over the years.

This business could see growth by tapping into the expanding Chinese market as well as by increasing the private charter side of the business.

There is 25 highly trained dedicated staff with a monthly payroll of 580,000 baht. Annual sales are at 20 million baht with a net profit of 3.75 million. Approximately 60 to 65% of sales income comes from internet sales with 30 to 35% from resorts and remaining income coming via direct walk in and retail. The split between diving/non diving revenue is around 35% / 65%. The monthly rent is 35,000 baht for the 400 sqm building. The premises has space for reception/retail, office administration, classroom, store, garden areas for guest arrival/departure and a kit room containing high spec’ and well maintained dive & snorkeling equipment. The property also has a substantial 2 story, 2 bedroom detached house with storage and an engine service workshop.

The business is fully licensed and assets valued at 10.5 million baht are included in the sale.

The owners are retiring and wish to sell this thriving high end business

ASKING PRICE 24 million baht

Popular Chaweng beach bar on Samui

The owner of this popular long-running bar on Koh Samui has dropped the price as he is looking to retire and wants to sell this well-located bar. Set in the heart of Chaweng Beach, the bar has built up a good reputation over the years it has been open. Highly rated on Trip Advisor and with great word of mouth, this bar is one of the top nightlife destinations on Samui.

This fun bar can seat 40 and is open from 7:30 p.m. to 3 a.m. There are three full time dedicated employees with monthly wages of 37,300 baht per month. Rent on this top location is 560,000 baht a year or 46,666 baht per month and the lease expires in March 2019. This busy bar saw sales between 4.5 to 5.5 million baht in the last years with a net profit of 2.5 million baht.

The owner has owned the bar for more than ten years and is ready to retire and so is selling the business. This is a truly turn-key business. Walk in and take over a thriving bar in the heart of Chaweng.

ASKING PRICE: 1.5 million baht

Long-running Pattaya hotel and restaurant

The owner of this long-running Pattaya 2nd road hotel and restaurant is keen to sell as he is moving to Bangkok and so has dropped the price. The hotel was fully renovated just this year for a new, modern look and it now has a up to date, modern kitchen, bar, and restaurant with classic decor. There is an outdoor dining space as well and the entire restaurant seats 50 people.

The hotel has 14 rooms over 4 floors, in a three unit shophouse. Rent on this large space is only 100,000 baht per month. The hotel has income from a tour company of 15,000 baht a month, reducing the total overall rent to 85,000 baht a month. The lease is set for 4 years plus 3. There is 6 staff with a total monthly payroll of 70,000 baht a month. Located right on the main road and with good lease terms, this is a deal.

The owner is moving to Bangkok and so must sell the business. The sale includes all new equipment and the fully renovated restaurant and bar as well as a Thai company with work permit.

ASKING PRICE 5 million baht

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