Weekly Column

Sunbelt Asia Weekly Column 23 November 2018

Sunbelt Asia Weekly Column

23 November 2018

Dear Sunbelt Asia clients, staff, and friends,

Hi!! I would like to introduce myself, I am Stuart Service, one of the new partners in Sunbelt Asia. I wanted to reach out to you and let you know how excited we are about the future of Sunbelt Asia. You can rest assured the same great service, prices and staff you have come to know and appreciate will remain. Greg built an amazing foundation for us and we plan on taking the business to the next level.

Over the coming months we will be invigorating the business with a refurbishment of the offices and added technology, so our clients can continue to take advantage of our top of the line serviced offices, meeting rooms, and facilities in a great central location. Our offices at Fortune Town are just a short walk from Phraram 9 MRT station, making it convenient for you and your business.

We are also expanding our scope and hiring some of the best legal talent in Thailand to service our clients. We are bringing on two new commercial lawyers to specialize in mergers and acquisitions, shareholder agreements, Sales and Purchase agreements, trademarks, and offshore company formation.

All this in addition to our extensive current services that includes:

  • Marriage
  • Visas
  • Wills
  • Employment contracts
  • Work permits
  • Loan agreements
  • House & Condo purchases
  • Land Department registration
  • Title deed searches
  • Company formation
  • Amity treaty formation
  • BOI application
  • Representative office registration
  • Business licensing

Our highly experienced accountants also provide for all your accounting needs including payroll, personal income tax, audits, Tax ID registration, due diligence, and all your annual accounting requirements.

I am enthusiastic about joining the Sunbelt Asia team of experienced and helpful accountants and legal advisors and am eager to help it grow. I look forward to working with you in the future – please do not hesitate to get in touch with me if you have any questions or concerns.

Customs cleared exports jumped 8.7 percent in October, the Commerce Ministry said the climb was due to higher shipments of fuel, gold, petrochemicals and agricultural products. Exports to the United States rose 7.2% in October from a year earlier, after September’s 1.2% increase. Shipments to China were up 3% after a 14% decline in September. From January-October, exports rose 8.19 percent year on year, while imports jumped 14.78 percent. The Commerce Ministry is maintaining its export growth target of 8 percent for this year.

Indigo Airlines has just started a new direct flight between Phuket and Delhi, flying six times a week. According to the Phuket Office of Tourism and Sports, Indians are among the top 10 visitors to the island. Indian arrivals grew 11 percent year on year in the first nine months of the year, reaching 1.25 million arrivals. Indians make up the fifth largest group of arrivals from Asia after China, Malaysia, South Korea and Japan. The top three arrivals in September came from China, Russia, and Australia. Phuket is also one of three airports offering e-Visas on Arrival.
Visitors can apply through the e- Visa Thailand website at www.evisathailand.com from one to 30 days prior to their arrival in the kingdom, and then use special lanes that will only take a minute or two. Applicants for the e-VOA, which include India, can fill in the application and pay the fee ahead of time. The special e-VOA is also available for arrivals to Suvarnabhumi and Don Mueang. New booths will open at Chiang Mai next week and Krabi in the near future.

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

Software and Consulting business

Offering software and consulting specializing in Information Systems and Enterprise Content Management, this business also offers product design solutions, international standard technical and engineering resources. It has earned a good reputation and built up a clientele of major corporations in Thailand since it started business in 2015. Currently the company has 60 active well-known clients and 12 clients that pay an annual fee for services.

This business has seen gross sales over 14 million baht a year since its inception and profits from 4.9 million baht and up, gross sales for 2018 are already at 24.9 million baht and profits at 9 million baht. There are four staff, including the owner and monthly payroll for staff excluding the owner is 130,000 baht.

The owner willing to stay with the new buyer for 1 year to ensure a smooth transition and will also offer future support if the new owner wants to create new software. The three major pieces of software that the company owns are valued at 5 million baht each and are included in the asking price.

ASKING PRICE: 35 million baht

Recruiting agency with placement with blue chip companies

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.

The business has 8 million baht in registered capital and with 20 full-time employees, can support work permits. The business will require a name change but the new 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

Jewelry & gemstone factory and exporter

Take advantage of Thailand’s premier reputation for high quality gemstones and 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

Fashion jewelry retail business

This fashion jewelry business has 10 branches nationwide; eight in shopping malls and tourist areas in Pattaya, one branch in Rayong and one branch in Bangkok and offers well-known jewelry with popular designs.

Each kiosk style shop is around 15sqm and the business has 15 well-trained and knowledgeable staff with a total monthly payroll of 300,000 baht. Sales for this business reach 15 million baht annually with a profit of 20 percent.

Inventory valued at 5.5 million baht is included in the sale as is the lease deposits totaling 600,000 baht.

The owner is moving back to his home country due to family issues and so is selling the business.

ASKING PRICE: 12 million baht

New price on Korean cafe in Siam Square

Updated with a new lower price, this well-known Korean dessert franchise is in an outstanding Siam Square location and while the business has only been open six months the owner is selling as he doesn’t have the time to manage this and his main business. The owner spent over 8 million baht in setting up the business including all decor and fixtures and fittings but is selling for the lease, franchise, and all fixtures and fittings for ony 4 million baht. The owner is also willing to sell just the lease and the assets.

The 60 sqm location seats 42 with a monthly rental of 210,000 baht on a 3 year lease. There are four full time and two part time employees with a total payroll of 60,000 baht a month. The asking price includes the lease deposit and franchise deposit so the new owner can walk into a turnkey business.

NEW ASKING PRICE: 1.9 million baht

Popular Koh Phangan beachfront restaurant

Located on the popular island of Koh Phangan, this beachfront restaurant has main road access in the middle of the island between the two main ports and is surrounded by well-known and popular hotels and resorts. One of the most popular restaurants on the island, this business has a strong social media presence and even greater word of mouth through taxis , hotels and other businesses. In high season and peak season reservations are booked at least two days in advance, with requests received up to 4 months prior for peak season. The staff are highly trained and willing to stay and the owners are willing to do a handover for at least a few months. Events are held at the beach bar such as live music and there is great growth potential for this.

The new buyer will be earning a profit from day 1 an extremely profitable business with a strong identity and concept with even potential to franchise. The property includes two staff rooms and a storage room as well as two restrooms, a car park, a point of sale system, all licenses including food and alcohol, and all equipment, furniture, and stock.

The current owners have applied for a trademark on the name and logo and expect to include that in the sale. The business sees sales of around 17 million a year with a profit of 7 million. The landlord is a relative of the owners and is happy to extend the lease to the new owners.

ASKING PRICE: 20 million baht

Luxury resort on Samui beach

Have you always wanted to live the life in paradise? Now is your chance! This exclusive luxury resort has direct access to the beach on the peaceful and idyllic west coast of Koh Samui. Samui has developed a reputation for top luxury resorts that attract people from around the world.

Established in 2008, the resort has two villas and four apartments, a pool and a large private home, guest villa and gym. The total land area is 3200 sqm fronting the beach with a full chanote title for the new owner.

The villas are large, at 118 sqm each, while the four apartments are 32 sqm each. The private mansion is an enormous 760 sqm while the guest villa is 75 sqm. There is a fully fitted 75 sqm gym as well.

Sales last year reached 3.8 million baht and there are four full time employees.

The valuation of this project has been set at 195 million baht but the owners are keen to move off island for their children’s education so are selling it at a must buy price of 150 million baht.

ASKING PRICE: 150 million baht

Phang Nga resort with 44 rai of chanote land

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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