Weekly Column

Sunbelt Asia Weekly Column 17 May 2019

Sunbelt Asia Weekly Column

17 May 2019

Thailand had more than 8 million MICE visitors (meetings incentives, conventions and exhibitions) in the second quarter, a 2.9 percent increase from the same period last year, while the visitors spent 6.3 percent more, generating 54 billion baht in revenues. The top five international Mice arrivals in the quarter were from China, India, Japan, Hong Kong and Indonesia. International Mice visitors generated 26.7 billion baht in income, a 7 percent rise, while in total around 353,000 came to the country. Domestic MICE travelers reached 7.75 million, an 18 percent jump, generating 28 billion baht, up 180 percent. The domestic MICE travelers were mainly in exhibitions and incentives. Thailands strong showing saw the country rise to number 4 in the MICE sector in Asia. TCEB predicts that 2019 will see a total of 35.9 million travelers this year, spending 221.5 billion baht, up from 34.2 million travelers and 213 billion baht in the last fiscal year (October 2017-September 2018).

The Board of Investment reports that foreign applications for BOI status and promotions rose in value by 253 percent in the first quarter of 2019 compared to 2018. There were 245 applications with a total value of 84.1 billion baht. Of those, 55 projects were proposed by Japanese nationals, with a total value of 26.9 billion baht, Chinese investors applied projects totaled 38 with a value of 9.7 billion baht and Singaporeans were third with 29 projects valued at 5.45 billion baht. Overall there were 387 applications for BOI status, a 12 percent year on year rise. Of those, 199 applications, 51 percent of all applications, were for the government’s 12 targeted industries, with a combined value of 58.8 billion baht.

K-Bank is collaborating with FinTech to launch a new program allowing Kasikorn customers to transfer money overseas via the KPlus app. KPlus currently allows the transfer of six currencies to more than 20,000 banks with 77,000 branches in 24 countries worldwide but will increase the number of currencies and destination countries in the next phase of service. Currencies now available are the US dollar, the British pound, the Euro, the Singapore dollar, the Hong Kong dollar and the Australian dollar. Customers can transfer up to US$49,999/transaction each day without any minimum requirement. Customers can transfer funds for five reasons; merchandise payment, consultant’s fee, students’ expenses, income repatriation by workers and remittance to family members with permanent residence overseas.

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.

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

Samui Dive School

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

Chaweng Restaurant & Bar on Samui

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: 12.5 million baht

IT Consulting Business in Bangkok CBD

This IT service and consulting business is located in the central business district in Sathorn and has been in business since 2013.

The business offers IT and tech outsourcing for companies who don’t want to carry the expense of having their own IT department. There are ten full time staff with wages of 600,000 baht. Rent on the office is 24,500 baht a month and the lease expires in 2019. Annual sales reach 10 million baht and the business broke even last year. The owner has no time to devote to expanding this business but thinks a dedicated owner with the right marketing background could easily grow the sales.

ASKING PRICE: 6 million baht

Well-known Craft Beer Bar at Prime Sukhumvit Location

Love beer? Then this craft beer bar may be the right business for you. Located in the prime area around Soi 26 this bar was established two years ago and has developed a good name among the growing craft beer aficionados in Bangkok. The space is 350 sqm with a monthly rent of 80,000 baht, a new lease would be started for the new owners. There is a large parking lot that offers customers a place to park but also makes a great location for special events. There bar is decorated in a cool beachy theme and can hold up to 100 people both indoors and out. The draft beer system is large and can hold up to 30 different beers on tap.

Annual sales are at 3.6 million baht and profits reached 1 million baht. Inventory valued at 100,000 baht is included in the sale. The owner is selling as they are ready to go into something different.

ASKING PRICE: 1.2 million baht

Popular Restaurant & Bar in Top Soi 11 Location

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.

ASKING PRICE: 40 million baht

Well-reviewed Asoke Hotel

This well-reviewed hotel is in the heart of the Asoke area, 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 ground floor size is 145 sqm and Floor 1-4 is 790 sqm. Total space is 935 sqm.

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 7 more years on the lease with a monthly rental of 300,000 baht. There are 12 employees and wages of 180,000 baht.

The owner has invested much time and effort in the business and is ready to try something new.

ASKING PRICE: 44 million baht

High Quality Imported Food Wholesale & Distribution

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.

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 years.

UPDATED ASKING PRICE: 40 million baht

Unique Concept Retail Store with Branches in Thailand & Cambodia

With a unique and fun concept, this retail store has expanded rapidly and now has 39 branches around Thailand and in Cambodia. The stores are a destination and always have something new and fun to explore. Offering low priced fashion products and unique gifts that resonate with tourists and residents, the owners of this store have found that their success has outstripped their ability to manage the business. The company sources their products direct from the factory both locally and around the region. With an ever changing trendy offering of fun products, the company has created a popular and well-known brand image.

The business has 39 locations of which one is the headquarters and warehouse in Min Buri, and a company owned store in a popular tourist district as well as one licensed store. Total rent and services on these locations is around 5 million baht a month. There is 188 staff with a total monthly payroll of 3.17 million baht. Annual sales reach 344 million baht giving a profit of 38 million baht. Inventory valued at 100 million baht is included in the sale.

The company is debt-free would offer the new owner a good income but this is ideal for someone seeking to grow the business through franchising and owner-operated stores as the retail concept has proven to be quite popular.



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