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Thailand’s businesses shut down up 19% in 2015

About 22,500 business enterprises have registered to fold up their businesses last year representing an increase of 19 percent from 18,900 cases in 2014, according to the Business Development Department.

Boris Sullivan

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About 22,500 business enterprises have registered to fold up their businesses last year representing an increase of 19 percent from 18,900 cases in 2014, according to the Business Development Department.

The department chief, Ms Pongphan Chienviriyaphan, said today that it was a normal practice around yearend when many operators registered with the department to fold up their business because they were reluctant to submit their financial budget to the department.

Also, she said that the tightening up of control over lottery trading had prompted many lottery traders to dissolve their businesses.

Altogether 3,924 lottery traders folded up their businesses last year, including 831 cases in December alone, compared to 2,498 cases in 2014.

In December, altogether 3,237 companies and partnerships were set up, representing a decrease of three percent compared to the figures a year earlier.

For the whole year, about 60,000 new companies were set up compared to 59,400 cases a year earlier.

Mrs Pongphan said that the number of new businesses was in line with global economic slowdown.

Source: Over 22,000 business enterprises folded up last year

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Corporate

Giant Thai-Chinese wholesale hub opens in Bangkok’s Pratunam

The region’s largest wholesale hub features products from China at wholesale prices, and products from Thai manufacturers to export to China.

Pr News

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Asset World Corporation (AWC) has launched the region’s largest wholesale hub in the Pratunam area of Bangkok, housed in the old Pantip Plaza tech mall.

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Business

Thailand remains in pole position for the highest funds raised across Southeast Asia

Taking the top two spots on the region’s leaderboard this year are Thailand’s Central Retail Corporation Public Company Limited and SCG Packaging Public Company Limited with US$1.77 billion and US$ 1.27 billion funds raised respectively

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Thailand’s Central Retail Corporation Public Company Limited raised US$1.77 billion in 2020

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Corporate

Thailand’s antitrust agency under scrutiny over $11 Billion Tesco Deal Approval

With the Tesco deal approved, CP Group will gain control over a network of about 2,000 hypermarket and grocery stores across Thailand, and the group already operates 7-Eleven convenience stores and the Siam Makro chain.

Olivier Languepin

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Thailand’s largest conglomerate, Charoen Pokphand Group (CP) won on Friday the Thai antitrust agency’s approval  for acquisition of retail giant Tesco Lotus: the Office of Trade Competition Commission (OTCC) voted 4:3 in favour of the US$10-billion takeover deal.

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