Weekly Column

Sunbelt Asia Weekly Column 22 February 2019

Sunbelt Asia Weekly Column

22 February 2019

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Thailands economy grew faster in the fourth quarter, up 3.7 percent year on year and up from the 3.2 percent in the third quarter. This was up from estimates of 3.6 percent growth in the fourth quarter. The economy grew at 4.1 percent for 2018 compared to 4 percent the previous year. Although exports slowed due to US – China trade concerns and a strong baht, private domestic consumption and investment drove fourth quarter growth. New business registrations also grew, jumping 78 percent year on year in January led by logistics and transport from active investment in the Eastern Economic Corridor. New business registrations hit 7,311 in January 2019, compared to 4,102 in December and 6,965 a year ago in January 2018. The top three sectors for new business registration in January were building and construction which saw 620 new registrations, property with 386 and logistics and transport with 184 in part due to growing online trade.

Gold and jewelry exports are expected to buck the trend and see growth this year with overall gem and jewelry shipments (including gold) will grow by 1-3% this year from last year’s US$ 2 billion, which was up 4.7% from 2017. Gem and jewelry exports rank third in the country’s total export value after automotive/parts and computers/parts. The industry employs more than 700,000 people and ranks number one in global silver jewelry exports. The country also has a large export market of colored stones to China and is a leading gold jewelry exporter.

Thailand ranked number one for mobile banking users, second for ownership of cryptocurrency, and third in mobile commerce in the Global Digital Report 2019. The report shows that there are 49 million mobile social media users in Thailand, or 71% penetration of mobile users, and 51 million active internet social media users. The country has ] 92 million mobile subscribers, 133% penetration, and 55 million active mobile internet users. Thailand ranked above Sweden and Turkey with internet banking service access at 74 percent and second in cryptocurrency ownership at 9.9 percent. Thailand came in third in mobile commerce with 71 percent of internet users purchasing something with their phone and fifth in overall e-commerce with 80 percent purchasing online through any device. The top five most active social media and messenger platforms for internet users are Facebook (93%), YouTube (91%), Line (84%), Facebook Messenger (72%) and Instagram (65%) and the country’s average daily time spent on the internet via any device is 9.11 hours. Thailand has 50 million Facebook users, 13 million on Instagram, 4.7 million on Twitter, and 2.4 million on LinkedIn.

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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.

Long-running Silom yoga studio

Just steps from the BTS in the Silom area, this long-running yoga studio has earned a great reputation with busy professionals in the area who come for yoga classes and more. Highly rated and well-reviewed the business has a loyal clientele and is in a top location in the area.There are 4 full time employees and 20 part time teachers with total monthly wages of 150,000 baht. Rent on the 289 sqm space is 151,800 baht a month.

This is a great opportunity to step in to a turn key business, last year the business saw sales of 5.34 million baht.

The owner is selling due to personal reasons after 16 years in operation.

ASKING PRICE: 4.5 million baht

Gem & Jewelry factory & exporter

Gem & jewelry exports continue to grow and you can take advantage of Thailand’s reputation for jewelry design with this long-running jewelry factory in Bangkok. The business exports gold and silver jewelry and gemstone jewelry to the EU and the US, nearly 95 percent of its product are exported. The factory, which was established in 1994 has a team of loyal, well-trained and experienced staff who will stay on. The factory, which is set in 600sqm 5 story shophouse, has the capacity to produce 12,000 pieces a month and is currently running at only 6,000 pieces, showing a huge potential to double sales.

With a good reputation and a huge database of customers the business saw sales reach 24 million last year with a profit of around 15 – 20 percent. There are 35 full time employees with a total monthly payroll o f 450,000 baht. There are more than 400,000 3D designs on file, valued at $1 per file and inventory valued at 5.5 million baht, both are included in the sale.

The sale includes all design files, customer database, and inventory 7,000,000 baht., a Thai company with 12 million baht in registered capital. There are currently four foreigners working full-time with work permits. The owner is moving back to his home country for family reasons and so is looking to sell this business that has huge growth potential.

ASKING PRICE: 12 million baht

Hostel near Asoke intersection

In a prime location near Terminal 21 and the BTS and MRT stations, this 21 room hostel is set in 3 commercial buildings and can hold 102 people. The are five floors including the rooftop in each building. With five private rooms and dorm rooms with bunk beds, each building is equipped with lockers and separate male and female shower rooms and toilets.

Every room is air conditioned and there is WiFi on each floor. There is also a rooftop water tank ensuring a steady supply of water. There is also a Southern Thai restaurant on the ground floor with a chef who is willing to stay on and work the restaurant.

The business has contracts with Agoda, Booking.com, HostelWorld, Airbnb, Expedia, Traveloka and other booking sites. The rent on the entire property is 270,000 baht a month and a 9 year lease contract. The owner invested around 16 million in the business. All equipment, fixtures, and fittings are included in the sale including televisions, computer systems and restaurant equipment.

The owner is moving and so needs to sell the business.

ASKING PRICE: 10.5 million baht

Ratchada executive apartment building with chanote title land

A rare gem in Bangkok, this executive apartment building is located in the heart of Ratchada and and only a ten minute walk from the MRT Station but also includes not just ownership of the building but of the 200sqw land the building is set on.

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

Sailing focused business in Chonburi

Located in one of Asia’s largest marinas with full facilities for yachts and boats, this business provides marine services supported and backed by the worldwide leader in sail making. Offering standing sail storage, canvas and trimming work, service and sail repair as well as sales of brand name sails, this business caters to a popular and growing market in Asia.

The business has a great potential for growth with a well trained staff and easy operating system. The business has protected product lines and established accounts. The loyal clientele create a lot of sales and referrals. This is a great opportunity for someone who loves the sailing lifestyle and can make money out of it.

The business is located in Chonburi with a 108 sqm upstairs sail loft for inventory, canvas work, and retail sales. Merchandising and marketing would boost this company further. The business has been operating for 6 years and there are four full time employees. The company has no real competition at this quality level. The owner is looking to sell as he is ready to “sail away”.

ASKING PRICE 3.9 million baht

Koh Phangan restaurant in prime location

Set in the beautiful district of Ch-Am and just a short drive from the beach, this business offers a unique opportunity for a buyer interested in getting into the resort and development business in a tropical paradise and owning 25 rai of chanote title land as well.

There are 9 beautifully furnished villas, each offering two rooms for rent as resort style accommodation. The resort can cater for up to 40 people at a time. The 9 villas offer beautiful views of the mountains, lake and rice paddies near by. With such a large area, there is plenty of room to grow this business, either with more resort rooms or more villas. The resort has a large pool set in beautifully landscaped gardens and a lovely lake.

There are 15 employees with a total monthly payroll of 260,000 baht. Sales have grown continuously in the first four years of business as the place becomes more well known, reaching 24 million million baht in 2017 with a gross profit in excess of 10 million baht.

Twenty five rai of freehold land is included in the sale, along with a 240sqm meter clubhouse, dining and drinking area with 40 covers, and 14 hardwood salas, as well as staff quarters for 4 people.

The owner is looking to sell due to personal reasons


Phang Nga resort with 44 rai of land great for development

Located in the popular and growing tourist destination of Phang Nga 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.

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