By Siriporn Chanjindamanee, Chalida Ekvitthayavechnukul
The Nation
Construction-service provider Capital Engineering Network (CEN) fears it will be blocked from bidding for projects in Cambodia, following the diplomatic dispute which the Board of Investment says has affected Thai investment there.
BoI secretary-general Atchaka Sibunruang Brimble acknowledged yesterday that existing Thai investment had been damaged by the conflict, most of it in light industries such as event organisation and hotels.
"We are gathering information on how the dispute will affect investment between the two countries. But so far, no investors have come to us for help. I hope the conflict will be resolved as soon as possible," she said.
Since 1994, Thais have been involved in 1,527 projects in Cambodia with combined investment of US$7.8 billion (Bt260 billion).
CEN now sees grim prospects for its bidding for a Bt2-billion electricity-pole installation contract together with investors from Singapore and Malaysia, as well as for bidding for other projects worth about Bt1 billion combined.
Its subsidiary Ua Withaya was designated to launch the bids.
"We're afraid that we may be disqualified as a Thai company. Things should be clear within a few months," said CEN executive chairman Torsak Chotimongkol.
Aside from Cambodia, CEN is looking to expand into Burma, starting with a roadshow with Thai and foreign property companies.
Chief executive officer Wutichai Leenabanchong said CEN expected Bt2 billion of revenue next year, against its target of Bt1.6 billion for this year, due to the improved performance of subsidiaries.
This would enable the company to swing back to net profit, after a nine-month loss of Bt26 billion.
Ua Withya, the maker of 500-kilovolt electric wiring, expects a joint venture in which it owns 30-40 per cent will win Bt3 billion worth of contracts next year.
CEN plans to spin off Ua Withya and another subsidiary, Rayong Wire Industries, for listing on the Stock Exchange of Thailand.
BoI secretary-general Atchaka Sibunruang Brimble acknowledged yesterday that existing Thai investment had been damaged by the conflict, most of it in light industries such as event organisation and hotels.
"We are gathering information on how the dispute will affect investment between the two countries. But so far, no investors have come to us for help. I hope the conflict will be resolved as soon as possible," she said.
Since 1994, Thais have been involved in 1,527 projects in Cambodia with combined investment of US$7.8 billion (Bt260 billion).
CEN now sees grim prospects for its bidding for a Bt2-billion electricity-pole installation contract together with investors from Singapore and Malaysia, as well as for bidding for other projects worth about Bt1 billion combined.
Its subsidiary Ua Withaya was designated to launch the bids.
"We're afraid that we may be disqualified as a Thai company. Things should be clear within a few months," said CEN executive chairman Torsak Chotimongkol.
Aside from Cambodia, CEN is looking to expand into Burma, starting with a roadshow with Thai and foreign property companies.
Chief executive officer Wutichai Leenabanchong said CEN expected Bt2 billion of revenue next year, against its target of Bt1.6 billion for this year, due to the improved performance of subsidiaries.
This would enable the company to swing back to net profit, after a nine-month loss of Bt26 billion.
Ua Withya, the maker of 500-kilovolt electric wiring, expects a joint venture in which it owns 30-40 per cent will win Bt3 billion worth of contracts next year.
CEN plans to spin off Ua Withya and another subsidiary, Rayong Wire Industries, for listing on the Stock Exchange of Thailand.
13 comments:
If Abhullshit is not being the GREED or not overreacting there should be a problem.
There was a former Pervian president name Fuji Alberto Mori which he is Japanese descent was charged with corruption and killing he escaped to Japan and Peru request the Japan to send him back to Peru and Japan declined the request. Peru had extradition with the two countries and Japan ignore that.
Hahaaa....Thailand can you look at this prime example????
Cambodia Town
Long Beach, Ca
Contrary, Thaksin Shinawatra was different case scenario. He was deposed by military coup, two years later accused of corruption. In conclusion, he was a political victim that was protected by UNHCR (United Nation High Commision for Refuge).
New Phally
Well, AH ABISHIT promise to close the border and let see if he is true to his word! The world are interconnected and with or without Thailand and Cambodia will thrive!
Forward Cambodia charge!
POLITCAL MOTIVATION AND/OR CRIMIMNAL STATUS IS NOT A MATTER, THE MATTER IS THAI AND KHMER WOUNDS ARE BEING ADDED SALT AND ALCOHOL.
BOTH SIDES OF BORDER, PEOPLE ARE HURTING IF THE SITUATION MOVES ON AND GET WORSE. THE POORERS WILL SUFFER THE MOST, WHO ARE THE POORERS? CAMBODIANS. WELL, KHEMRS USED TO SUFFERED SO MUCH, THEY CAN ENDURE THIS WITHOUT A PROBLEM. YOU CAN SAY THAT...
Hun Sen equipped his armies with modern weapons and gears now. He went to China and got a good deal out of that..
No wonder HUN SEN is flexing...
I'm quite certain that everyone is stressed over Ah Pleu Hun Sen for being a victim of his ignorance; consequently, the innocent people will suffer. Further, the recent appointment of Ah Pleu Hun Sen's economic advisor will determine if Cambodia will be feasted or starved (to death) in the not-too-distant future.
Until then, please enjoy the following video clip to migitate our stress during this tumultuous period.
Enjoy!
CPP Traitor
http://www.youtube.com/watch?v=YhEl6HdfqWM&feature=fvw
To 3:30AM
You can blame it on the stupid Thai King for playing with fire by overthrew people elected Thaksin government!
Through out Cambodian history! The Thai and the Viet take their turn in destabilize Cambodia in anyway they can and they always used Cambodia as their political prisoner as if Cambodia has no otherwise choice except to take the fucken bullshit and the horseshit and the garabage from the Thai and the Viet leadership!
New Phally or 3:02 AM,
Hun Sen protect Thaksin because Thaksin was a coup victim, I agreed. But when Hun Sen staged a bloody coup in 1997 against Prince Ranaridth did'nt the Prince was a coup victim too. Not even Hun Sen did not protect the prince he was in fact a coup leader himself. Coup during Thaksin was bloodless, however, coup against Ranaridth was bloody with 100's if not 1000's of Ranaridth supporters died as the result of execution style by Hun Sen's bodyguards. The Human Rights group found the graves of the victims of the coup committed by Hun Sen, which show sign of torture, including eyes gouging, dismemberment. To me these are criminal act against human race and Hun Sen deserve to be punished and you chose to praise him instead. I am not Ranaridth supporter but I reveal the fact for the sake of justice.
After all it is criminal who makes friend with criminal. During Thaksin rule, he ordered the execution of about 3000 thai people who are suspected of being involved in drugs trade without taking them to court. By law, people are presumed to be innocent until proven guilty in the court of law. In Hun Sen case, he executed lots of his khmer people during his tenure as Khmer Rouge. He was involved with throwing grenade on demonstrators. He was responsible for executing 100's if not 1000's supporters of Ranaridth during 1997 coup. So both of them, Hun Sen and Thaksin have something in common.
Everyone is guilty until proven to be innocent.
Cheers!
How Adbhisi's government is going to solve the problem of economic loss for their own people. Close the border will not affect Cambodian but Thais much more. Can't Cambodians people run hotel and event organizations. This type of investment we don't need. Government of Cambodia should review Thai's investment and take this opportunity to kick them out if they are in line of supporting their government. For example the PTT Gas stations. They claim no effects on their business if their government close the border or relationship. I suggest the RGC close PPT Gas Sattion because we do not depend on them and They cannot compete with Caltex and Total.
new phally defends human rights when it suits him otherwise he is the advisor to Nguon Ngel and a cpp parasite.
By the way he gets a monthly stipend from his boss, money stolen from the cambodian people.
Good for Thaksin! Let him execute as many Tranny as he wants. When there is no more, let him execute himself.
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