The recent flooding of the Thai capital,Bangkok,is having a number of ripple effects.Honda Motor,for instance,is scaling back production at six U.S. plants through December.This is because the flood has caused parts shortages.
Thailand's GDP for Q3 was up 3.5%-below estimates.The Bank of Thailand has cut its growth forecast for all of 2011 to 1.5% on account of the flooding,which killed around 600 people.More than 14,000 businesses have been hampered by the disaster.
There has been criticism of the Thai government under Prime Minister Yingluck Shinawatra over the flooding.The response was too slow;indeed,there was no preparation for the disaster,the critics complain.
Honda Motor Company(HMC)
Showing posts with label Bangkok. Show all posts
Showing posts with label Bangkok. Show all posts
Monday, November 21, 2011
Sunday, October 30, 2011
Honda Troubled By Thai Flood
Honda Motor shares fell on Monday as the company announced its Thailand plant may be closed for six months.Honda needs to replace equipment that was damaged by the recent flooding in the outskirts of Bangkok.The plant produces the Civic and Accord models.
The center of Bangkok is generally dry,protected by a wall of hundreds of thousands of sandbags that guide the waters to the Thai delta.The wall has prompted bitter criticism by residents of the northern reaches of the city,whose homes have been flooded,while those living just inside the wall are dry.Prime Minister Yingluck Shinawatra pointed out that they had no choice but to protect the city center.Thailand's international image would suffer if the capital city were allowed to be flooded.She called for patience for 2-3 more days.These are very critical days in the disaster,the Prime Minister added.
About 400 people have died as a result of the flooding.The total financial losses so far are about 30 billion dollars.The Bank of Thailand is lowering its Gross Domestic Product growth estimate for the country from 4.2 to 2.6% because of the flooding.Industrial and agricultural exports will take a hit.
Toyota Motor has had to close three plants in Eastern Thailand because of a disruption of parts delivery caused by the flood.
In Bangkok,it was 84F on Monday under clear skies.The wind was NE at 7 mph,and the humidity was 62%.Good weather for the next several days should help with the flooding situation.
Honda Motor Company,Ltd.(HMC),Toyota Motor Corporation(TM)
The center of Bangkok is generally dry,protected by a wall of hundreds of thousands of sandbags that guide the waters to the Thai delta.The wall has prompted bitter criticism by residents of the northern reaches of the city,whose homes have been flooded,while those living just inside the wall are dry.Prime Minister Yingluck Shinawatra pointed out that they had no choice but to protect the city center.Thailand's international image would suffer if the capital city were allowed to be flooded.She called for patience for 2-3 more days.These are very critical days in the disaster,the Prime Minister added.
About 400 people have died as a result of the flooding.The total financial losses so far are about 30 billion dollars.The Bank of Thailand is lowering its Gross Domestic Product growth estimate for the country from 4.2 to 2.6% because of the flooding.Industrial and agricultural exports will take a hit.
Toyota Motor has had to close three plants in Eastern Thailand because of a disruption of parts delivery caused by the flood.
In Bangkok,it was 84F on Monday under clear skies.The wind was NE at 7 mph,and the humidity was 62%.Good weather for the next several days should help with the flooding situation.
Honda Motor Company,Ltd.(HMC),Toyota Motor Corporation(TM)
Sunday, October 23, 2011
Rice Crop Hindered By Flooding
The UN is warning that flooding in Southeast Asia may result in food shortages.Rice paddies have been devastated in Thailand,Cambodia and Laos.In Thailand and Cambodia,12.5% of the rice has been lost.Thailand,the world's largest rice exporter,may lose up to 25% of its harvest.These losses may cause a 17% price increase.
The Stock Exchange of Thailand is closed today,Monday,for the Chulalongkorn Holiday,which honors the death of a revered king.
In South Korea,the Pohang Iron and Steel Company,or POSCO,has reported a 75% drop in profits.This is because of both less demand and lower steel prices.POSCO is the world's third biggest steel producer.
Taiwan's Yani Tseng won the inaugural LPGA Taiwan Championship on Sunday,shooting a six under par 66 at the Sunrise Golf and Country Club in Yang Mei.It was Tseng's seventh LPGA Tour win of the season as she was cheered on by a large crowd of supporters in her native land.She donated 100,000 dollars of her prize to Taiwan junior golf.
In Bangkok on Monday,it was 88F under scattered clouds.The wind was NE at 6 mph,and the humidity was 58%.
POSCO(PKX)
The Stock Exchange of Thailand is closed today,Monday,for the Chulalongkorn Holiday,which honors the death of a revered king.
In South Korea,the Pohang Iron and Steel Company,or POSCO,has reported a 75% drop in profits.This is because of both less demand and lower steel prices.POSCO is the world's third biggest steel producer.
Taiwan's Yani Tseng won the inaugural LPGA Taiwan Championship on Sunday,shooting a six under par 66 at the Sunrise Golf and Country Club in Yang Mei.It was Tseng's seventh LPGA Tour win of the season as she was cheered on by a large crowd of supporters in her native land.She donated 100,000 dollars of her prize to Taiwan junior golf.
In Bangkok on Monday,it was 88F under scattered clouds.The wind was NE at 6 mph,and the humidity was 58%.
POSCO(PKX)
Sunday, May 23, 2010
Early Edition:Bangkok Back To Business
Bangkok,Thailand is getting back to business.The center of the city had been virtually shut down for weeks by redshirt protesters.Finally,the army forcefully drove them out.Sixty-eight deaths resulted from the political confrontation.
The dawn of a steamy Monday saw volunteers with big brooms continuing the clean-up,while heavily-armed troops were on patrol.Schools reopened and the stock exchange prepared to trade again,having been damaged by violent renegades.The exchange says they have revamped their back-up plans,and can open elsewhere if something happens in Bangkok.
The sounds of traffic once again rushed beneath the skyscrapers of the Southeast Asian metropolis.
The dawn of a steamy Monday saw volunteers with big brooms continuing the clean-up,while heavily-armed troops were on patrol.Schools reopened and the stock exchange prepared to trade again,having been damaged by violent renegades.The exchange says they have revamped their back-up plans,and can open elsewhere if something happens in Bangkok.
The sounds of traffic once again rushed beneath the skyscrapers of the Southeast Asian metropolis.
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