# Businesses Optimistic about Economic Stability under Newly Elected Government

- Link: https://www.thailand-business-news.com/politics/157398-businesses-optimistic-about-economic-stability-under-newly-elected-government
- Published: 2024-08-21T06:10:00+07:00
- Author: NNT

Pruksa Holding Public Company Limited has expressed confidence in the stability 
of Thailand’s political landscape after the recent removal of Srettha Thavisin as
Prime Minister. The company emphasized that the swift selection of a new leader 
ensures the continuation of government policies, which is crucial for maintaining
public confidence during this period of transition.

## Key Takeways

 * Pruksa Holding Public Company Limited affirmed confidence in Thailand’s political
   stability post-Srettha Thavisin’s removal as Prime Minister, underscoring swift
   leadership transition as essential for policy continuity and public confidence.
   CEO Uthen Lohachitpitak noted the coalition government’s likely stability and
   the necessity of quick decision-making in avoiding policy disruptions.
 * Uthen discussed positive economic prospects for the year’s second half, urging
   the Bank of Thailand to consider reducing interest rates to boost consumer spending
   and purchasing power. He warned of potential economic strain should interest 
   rates remain high, which could burden debt and weaken purchasing power.
 * Pruksa reported first-half revenues of 9.86 billion baht with a gross profit 
   margin of 33%, maintaining a low net gearing ratio of 0.39. The company recorded
   significant transfer values and sales, with plans for 23 new projects worth 19.6
   billion baht in the year’s second half. Additionally, Pruksa launched “Wizlah
   TH,” an AI-enhanced interior decoration e-marketplace, in partnership with Singapore’s
   Sunray Group.

Uthen Lohachitpitak, CEO of Pruksa Holding, commented that the current coalition
government is likely to remain stable and bring positive outcomes. He highlighted
that the quick decision-making process that led to the appointment of a new Prime
Minister overnight has been essential in avoiding interruptions in government policies,
which is vital for the public during such times. Uthen also discussed the economic
outlook for the second half of the year, suggesting that maintaining current economic
policies would likely enhance consumer spending. He speculated that the Bank
of Thailand might reduce interest rates in line with global trends, which could 
boost consumer purchasing power. However, he warned that if the Bank does not lower
rates, it could increase the debt burden and further weaken purchasing power. In
terms of Pruksa’s financial performance, the company reported first-half revenues
of 9.86 billion baht, maintaining a strong gross profit margin of 33%. The company
continued to strengthen its financial position with a low net gearing ratio of 0.39.
Pruksa achieved a transfer value of 8.31 billion baht and sales of 7.47 billion 
baht in the first half of 2024, with plans to launch 23 new projects worth 19.6 
billion baht in the second half of the year. Pruksa has also launched “Wizlah TH,”
a comprehensive e-marketplace service for interior decoration, in partnership with
Sunray Group of Singapore. The platform utilizes AI, AR, and 3D technology to provide
customers with realistic interior design simulations, helping reduce uncertainty
in purchasing decisions.

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