Chairman’s Message September 2005

It is really alarming to see such quick changes and volatility of the economy of Thailand.  At the end of 2004, every economist was predicting a stable economy for this year.  Now the situation is not as predicted.

The strong increase of crude petroleum prices resulted in a negative balance of trade for the last 8 months. Transportation cost is on the rise. Consumer goods have been adjusted upwards. Inflation is getting worse. There are still problems in Southern of Thailand.

The government has just adjusted the minimum salary by 6 Baht to compensate for the inflation.

Looking forward, how do we forecast the Thai and Global economy?

Really, there is not much any one of us can do to influence the global economy.  However, each one of us can assist by reducing the use of energy.  A genuine effort collectively by all of us in this direction may improve the situation.  If every one can achieve a 10 percent reduction in energy utilization then this effort would have a significant impact on the Thai economy.

Let us put our best resolve to support the energy consevation activities of the Thai Government as a good corporate citizen. At least we can add towards removing some gloom improve the energy crisis affecting Thailand and save ourselves some cost.

Mr. Yeap Swee Chuan



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