The Commerce Ministry showed on Thursday that a total of 1,516 companies shut down their business in October, an increase of 6.54 per cent from the same period last year. Most of the companies are in the construction, property development and electrical appliance distribution industries.
In the same month, 3,695 companies were registered, up 4.92 per cent year on year of 152 companies. Most of the newly-registered companies are in construction, property development and services sectors.
He also noted that the number of shutdown companies is a jigsaw that reflects the economic conditions. “These companies shut down their business a year before they came to officially withdraw the company registration with the department.” (Nation)
Understand : there is time lag effect… Therefore, it’s likely that the number will continue to increase in the coming months… “reflecting the economic conditions“…
It is definitely an alarm for the same old vicious cycle.
Suddenly it is 1997 all over again.
bankruptcies = NPL = Bank loss = stricter loan = lower spending = bankruptices
(ps – I assume you already heard that certain thai cement company start downsizing their workforce already.)