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Airports of Thailand reports 90% fall in full-year profit

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National airports operator Airports of Thailand (AoT) has posted a 90% drop in profit for the fiscal year ending 30 September, after it was hurt by the economic downturn and political unrest. Total revenue fell 20% to 21.5 billion baht ($647 million) from 26.7 billion baht in the corresponding period last year, says AoT.

Net profit decreased 90% to 717 million baht from 7.3 billion baht a year ago, it adds.

“The decrease on the financial performance was mainly due to the worldwide economic recession together with the 2009 flu pandemic and the domestic unrest situation which had caused an adverse impact to Thailand’s tourist industry,” says senior executive VP planning and finance Supaporn Burapakusolsri.

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via Airports of Thailand reports 90% fall in full-year profit.

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Investment

Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI

The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.

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The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.

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