Weekly Column

Sunbelt Asia Weekly Column 19 October 2018

Sunbelt Asia Weekly Column

19 October 2018

Sunbelt Asia will be closed Tuesday August 23 for Chulalongkorn Day. This is a national public holiday and government offices will be closed.

Tourism experts are warning Thailand to adapt to changing demographics and tourism interests as aging populations travel at an older age and younger generations choose more unique and experience-based destinations. Additionally, tourists are increasingly looking to cashless payments and real-time on demand service. Younger tourists, especially Chinese, expect basic services such as WiFi, internet and social media access. The Chinese market remains huge, but experts warn that the emerging economies of Muslim countries in the Middle East, India and South Asia will see larger numbers of tourists from those areas.

The Land Traffic Management Commission met yesterday to discuss ongoing transportation projects; the Cabinet has already approved a draft of the Royal Decree for the implementation of the construction of the 58.5 km light rail tram route in Phuket, the line which will run from Tha Noon in Phangnga to Chalong intersection in the south of Phuket, will see the MRTA build the first phase from Phuket Airport to Chalong Circle with 24 stations. The Cabinet also approved the draft of the Royal Decree for development of a three tram lines in Chiang Mai, while the commission approved the master plan of Nakhon Ratchasima’s light rail project with three routes, and the implementation of the first phase of construction of light rail in Khon Kaen. The Commission authorized the MRTA to handle the development of light rail in Phitsanulok and endorsed a 3km expansion of the Pink Line to Muang Thong Thani and a 2.6km expansion of the Yellow Line to link the Green Line at Phahon Yothin. The committee also approved of the construction of a new 9.8 km long road along the Chao Phraya River in Nonthaburi to ease traffic congestion, construction is expected to take 2-3 years.

Thailand climbed two places up the World Economic Forums Global Competitiveness Index to 38 out of 140 nations in 2017, while its financial system placed strongly at number 14. Thailand’s financial sector scored highly for its availability of capital, credit services, variety of financial products, financial risk diversification system, financing of SMEs, financial support for start-ups, and the soundness of its banks. The country came in 18th for its market size in large part due to the strong accessibility of its markets for foreign and domestic companies. The global competitiveness index measures national competitiveness; that is the set of institutions, policies and factors that determine the level of productivity, and scores competitiveness for long-term economic growth on a scale of 1 – 100. Thailand saw its scores rise in ICT adoption, infrastructure, institutions, health, financial systems, market size, business dynamics, and innovation capability but saw the score fall from the previous year in the labor market and product market. Thailand has a very low rate of unemployment and a tight labor market.

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.

Long-running Executive Recruiting Agency

Established 14 years ago, this recruiting agency has developed a great reputation in the Thai market for its extensive database of high-quality candidates and its well-managed recruitment system. With over 1,500 clients and well-trained staff the business has seen profits average 10 million baht a year on revenues of 30 million. There are 20 full time employees and the business is fully licensed with the license not expiring for four more years. There is already a strong associate director in place who is interested in moving the company forward so the new owner will be stepping into a turn-key business.

The founding director is retiring and the company has some independence issues with the network of which it is an independent member, which is the reason behind the sale and the requirement for a name change upon transfer. The business has 8 million baht in registered capital and with 20 full-time employees, can support work permits, the owner will retain all databases. Known for its placement with blue chip companies in Thailand, this business is ready for a new owner to walk in.

ASKING PRICE: 25 million baht

Sukhuvmit Guesthouse near BTS

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. The lease deposit of 420,000 baht is not included in the sale price.

ASKING PRICE: 980,000 baht

New Asking Price for Wireless Road Salon

Updated with a new asking price for a quick sale, this long-established hair salon offers waxing and a nail spa for its clients in a top Wireless Road location. Wireless Road is often known as Embassy row due to the many embassies on the street but the street is also home to many office buildings and hotels.

The salon has been in business for 12 years and has built up a great reputation and many repeat clients.

Rent on the 142 sqm space is 168,000 baht a month and there are 7 employees that earn about 200,000 baht per month in commissions. All of the staff are long-term, well trained technicians.

Sales last year is 7,405,242 and net profit 1,628,301. The equipment and furniture are good quality and included in 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 branded, 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

New Asking Price for Profitable Transportation Business

Updated with a new asking price as the owner is retiring and wishes to sell his profitable transportation company.

The company has earned a good reputation having been business for 48 years in Khon Kaen and expanded with two branches in Bangkok. The business has many repeat customers and excellent word of mouth due to its long-standing role in the North East.

There is a great team of 60 dedicated staff. The company has 17 trucks for delivery and they are included in the sale. The business saw 36 million baht in revenues last year with a profit of 13 million baht. The owner is retiring and so wishes to sell the business

ASKING PRICE: 48 million baht

Price Drop for Newly Renovated Pattaya Hotel

The owner has dropped the price on this long-running hotel and restaurant as he is moving to Bangkok and is looking for a quick sale. The hotel was fully renovated just this year for a new, modern look.

Located on Pattaya 2nd road, the hotel 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 are 6 staff with a total monthly payroll of 70,000 baht a month.

The sale includes all new equipment and the fully renovated restaurant and bar as well as a Thai company with work permit. Located right on the main road and with good lease terms, this is a great deal for someone looking to enter the hospitality business with an ongoing property.

ASKING PRICE: 5 million baht

PhangNga Resort with Chanote Title Land

Located in the popular and growing tourist destination of PhangNga on the Andaman Coast, this resort complex is set on 44 rai of land, of which only 3 rai have seen development, making this a tremendous opportunity to grow this business.

Currently there are three buildings on the property but the opportunities for villas, hotels commercial offices or condominiums is available. The business offers accommodation and a restaurant along with adventure activities, a popular tourist activity. Hosting events such as conventions and weddings has been a major source of income along with leisure tourists.

There are 40 full time and 10 part time employees with a monthly payroll of 500,000 baht. The property includes 44 rai of chanote land not far from the airport. Annual sales have reached 20 million since its inception in 2015 and profit reached 3 million per year.

The owner wishes to retire and so is seeking to sell this development with great potential.

ASKING PRICE: 375 million baht

Popular Chaweng Bar & Grill on Hottest Nightlife Street in Samui

Located on the hottest nightlife street in Samui on Chaweng Beach this bar and grill is fully equipped with a fully fitted out kitchen, full wine storage area, a ground floor bar and another bar on the third floor with a full DJ booth hanging off the wall with full sound and music equipment. The fourth floor is currently a storage area but could easily be converted into a VIP lounge.

There are also offices and a store room as well as the IT center with all controls. The business is a well-known and popular bar and the sale includes the lease in an amazing location in the heart of Chaweng as well as the brand name and Thai company if the buyer requires purchasing a company. There is no debt on the company and it is only registered to this business.

All fixtures, fittings, and equipment is included in the sale including top quality stainless kitchen and equipment, all DJ equipment and lighting, and the huge wine cellar holding over 300 bottles of wine. The bar is a huge draw with the younger crowds, there is also a small room next to the ground floor bar which is part of the sale, this can be used as a store; previously the space was rented out for 20,000 baht a month.

ASKING PRICE: $1.2 million USD or 39 million baht

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