Business
Thailand’s new-car sales climb 15% in April
Thailand saw the biggest jump, as the region’s second-largest auto market logged a 15% overall increase
New-car sales in Southeast Asia rose 4% to 256,647 units in April for a sixth consecutive month of year-on-year increases, despite a slower pace of gains than in February and March.
Thailand saw the biggest jump, as the region’s second-largest auto market logged a 15% overall increase aided by a 23% boost in passenger-car sales.
The country continued its recovery, achieving a fourth straight month of double-digit growth. Automakers such as market leader Toyota Motor and fourth-ranked Mitsubishi Motors bolstered their market shares.
Sales rose 6% in Indonesia, Southeast Asia’s largest market, but fell in Vietnam and Singapore.
Malaysian sales inched up just 1%. Car production declined in April, possibly suggesting that automakers are growing skeptical of sales prospects in the country.
Zhejiang Geely Holding Group, the parent of major Chinese automaker Geely, plans to invest in ailing Malaysian car maker Proton Holdings.
Southeast Asian new-car sales soared 14% for both February and March. Japanese automakers account for 80% of the region’s market share.
Business
Thailand Approves Latest Economic Relief Package for Businesses
Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.
On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.
Business
Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)
The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.
The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.
The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.
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