Chart, businesses : number of dissolutions explodes in Q3 (+347 %)

Let’s burry 2009… A year that lot of people would like to forget.

All my best wishes for you and all the Thailand-lovers. And remember the 2 main mantras of 2009 :

-On going Recovery
-Change Yes We Can(‘t)

😉

And be prepared for a very interesting 2010, during wich the bulk of the deception (all the stimulus and bailout plans around the world, cheap money, artificially low interest rates, etc.) is going to blow off.

They tried to sell us a collective hallucination… To some extend, it worked (at least for the balance sheets of banks and the bonuses of their employees). But the Reality is going to catch up… with ugliness : mountains of debts, deficits, depressed purchase power because of unavoidable higher taxes, higher unemployement, currencies disorders etc.

For my last 2009 post, let’s have a look on the latest data published by the  Department of Business Development.

Unprecedented. The Big Crisis has ravaged businesses. It was forecasted. No surprise at all. But it’s interesting to  hear the government talking about “recovery” and “lower unemployment”…

A total of 24 592 companies have been dissolved during Q3. That’s a whooping increase of 347 % compared to Q3 2008…

Companies = Limited Company + Limited Partnership + Ordinary Partnership (Public Limited companies are excluded)

Dissolution = Dissolved Defunct and Bankrupt

Now a look per month.

11 Responses to “Chart, businesses : number of dissolutions explodes in Q3 (+347 %)”


  1. 1 African Nomad 1 January 2010 at 12:44 pm

    That is an incredible statistic. Difficult for the Apeshirt spin machine to lie their way around.

  2. 2 John 1 January 2010 at 12:47 pm

    It’s interesting that the majority of failures seems to occur in May of each year. It’s also very apparent that the economy is down the toilet since the removal of the Thaksin government.

  3. 3 James 2 January 2010 at 1:00 pm

    I have a feeling, the condo craze in Thailand, and all of Asia for that matter, will come to a screeching halt in 2010. The level of property speculation in Asia makes the U.S. bubble look like nothing. There are people in Thailand and China, making 0-$3,000 per year and buying condos on bank loans for $100k+.

  4. 4 Pricilla 2 January 2010 at 6:25 pm

    As to condo comment have a few condos I renovated, just sold one at a 50% markup on total costs including renovation. This is only because I bought several at a steal so don’t need to be greedy, can sell at a good price for the buyer. Now just two more to go.

    So yes, I agree with TC about world economy, am trying to convert to cash before the next crunch and the real estate market dies off again. Will buy another house as a rental, spotted good rental location, as houses I can offer to local and foreigner tenants, unlike condos that tend to be foreigner only. So I think houses will be better for the next so many years.

    Half tempted to buy up US dollars as think this will run, but not really up to speed on what the Thai gov will do, brother in Oz has bought up though.

    If gold correction comes will buy up, likewise want to be cashed up if and when market crashes again to grab some bargains. Australia won’t let you short so need to find other ways to cash in.

    Don’t suppose anyone knows about shorting here?

  5. 5 olive 2 January 2010 at 6:58 pm

    let’say the situation is better since octobre 2009

  6. 6 fall 2 January 2010 at 7:02 pm

    With all the handout and injection each countries government are giving away. If their economy does not pick up soon, the new watch word would be “stagflation”…

  7. 7 olive 3 January 2010 at 10:19 pm

    cannot access the dbd.go.th website. 😦

  8. 8 ThaiCrisis 3 January 2010 at 10:47 pm

    Nothing to worry about… It’s sunday… The server will be rebooted monday morning. 😉

  9. 9 emsfeld 4 January 2010 at 2:01 pm

    @James,

    I dont know about China, but your statement,

    “There are people in Thailand and China, making 0-$3,000 per year and buying condos on bank loans for $100k+”

    is simply not true. Have you ever experienced the process you go through to get a loan/mortgage with a bank in Thailand POST 97? The colaterals required? I have experienced it once personally and twice with close friends of my partner. Mortgages are not handed out that easily by banks – loan sharks I dont know.

  10. 10 olive 4 January 2010 at 6:47 pm

    i think the average condo/townhouse price (not as slum) in thailand must be 2 millions bahts (yes 100kUSD is a bit overstated)

  11. 11 emsfeld 5 January 2010 at 8:22 am

    @olive

    Not only a bit!

    Even a monthly income of 40k Baht is not enough to secure a mortgage loan over the amount of THB2 mil from my experience. Friend of ours had to get her sister (whose monthly income is fair a bit over 40k) co-sign on the mortgage she took out for a similar amount.


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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.


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