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 Yingluck Shinawatra. Show all posts
Showing posts with label Yingluck Shinawatra. 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 2, 2011
Typhoon Bears Down on East Asia
Typhoon Nalgae has killed three people in the Philippines.Now the storm is heading across the South China Sea to Hainan Island,China and Vietnam.
Chinese financial markets are closed all week for the Golden Week holiday.China's non-manufacturing Purchasing Managers Index came in at 59.3,up from 57.6 the previous month,indicating growth in the service sector.
The MSCI Asia-Pacific Index was down 1.75 Monday morning,following the U.S. markets' lead on Friday.It has lost 18% on the year.The euro/dollar fell in early Asian trading,and the dollar/yen rose.
Thai Prime Minister Yingluck Shinawatra was verbally attacked by hackers,who broke into her Twitter account.The hackers questioned her competence to lead.If she can't protect her Twitter account,they asked,how can she protect Thailand?She was sworn in as Thailand's 28th prime minister on August 10.
The Bank of Japan's Tankan business sentiment index showed flat to improved business confidence.
Korean American golfer Kevin Na won the Justin Timberlake Shriners Hospitals for Children Open at TPC Summerlin in Las Vegas.Na shot a fourth round 23 under par 65.It was his first PGA Tour win.
In Tokyo on Monday,it was 66F under scattered clouds.The wind was North at 14 mph,and the humidity was 37%.
Chinese financial markets are closed all week for the Golden Week holiday.China's non-manufacturing Purchasing Managers Index came in at 59.3,up from 57.6 the previous month,indicating growth in the service sector.
The MSCI Asia-Pacific Index was down 1.75 Monday morning,following the U.S. markets' lead on Friday.It has lost 18% on the year.The euro/dollar fell in early Asian trading,and the dollar/yen rose.
Thai Prime Minister Yingluck Shinawatra was verbally attacked by hackers,who broke into her Twitter account.The hackers questioned her competence to lead.If she can't protect her Twitter account,they asked,how can she protect Thailand?She was sworn in as Thailand's 28th prime minister on August 10.
The Bank of Japan's Tankan business sentiment index showed flat to improved business confidence.
Korean American golfer Kevin Na won the Justin Timberlake Shriners Hospitals for Children Open at TPC Summerlin in Las Vegas.Na shot a fourth round 23 under par 65.It was his first PGA Tour win.
In Tokyo on Monday,it was 66F under scattered clouds.The wind was North at 14 mph,and the humidity was 37%.
Sunday, September 11, 2011
Yingluck's First Foreign Trip
The new Thai Prime Minister,Yingluck Shinawatra,is making her first foreign trip in office.She is visiting Cambodia,Laos and Indonesia.Among other things,she is seeking resolution of a border dispute with Cambodia that has resulted in military clashes.
Markets were closed in Taiwan,Shanghai and South Korea on Monday for the Mid-Autumn festival.Hong Kong's stock exchange will close for this on Tuesday.
U.S. Ambassador to China Gary Locke gave his first talk to Chinese students on Friday at Beijing's Foreign Studies University.He said there's room for China and the U.S. to be partners.Both countries have shared interests and are not in a zero sum competition.We can and must achieve security and prosperity together.
Ambassador Locke,who is of Chinese descent,had formerly been Commerce Secretary in the Obama cabinet.A student remarked that his having a yellow face doesn't matter;it's what he says that matters.
The Australian and New Zealand dollars are down to one month lows on Euro debt crisis fears.Job advertisements in New Zealand fell 1.9% in August,and Australia's corporate bond risk has risen to its highest level since 2009.
Taiwanese golfer Yani Tseng won the Walmart Northwest Arkansas Championship on Sunday.The world number one was defending her title at the LPGA event.
In Bangkok,it was 82F on Monday under mostly cloudy skies.Winds were S at 12 mph,and the humidty was 94%.
Markets were closed in Taiwan,Shanghai and South Korea on Monday for the Mid-Autumn festival.Hong Kong's stock exchange will close for this on Tuesday.
U.S. Ambassador to China Gary Locke gave his first talk to Chinese students on Friday at Beijing's Foreign Studies University.He said there's room for China and the U.S. to be partners.Both countries have shared interests and are not in a zero sum competition.We can and must achieve security and prosperity together.
Ambassador Locke,who is of Chinese descent,had formerly been Commerce Secretary in the Obama cabinet.A student remarked that his having a yellow face doesn't matter;it's what he says that matters.
The Australian and New Zealand dollars are down to one month lows on Euro debt crisis fears.Job advertisements in New Zealand fell 1.9% in August,and Australia's corporate bond risk has risen to its highest level since 2009.
Taiwanese golfer Yani Tseng won the Walmart Northwest Arkansas Championship on Sunday.The world number one was defending her title at the LPGA event.
In Bangkok,it was 82F on Monday under mostly cloudy skies.Winds were S at 12 mph,and the humidty was 94%.
Sunday, July 3, 2011
Asia This Day
Thailand's opposition Peau Thai party has scored a decisive victory in Sunday's election,bringing the country's first female prime minister,Yingluck Shinawatra,to power.There's still a lot of work to do for the well-being of the people and unity and reconciliation,the 44-year old politician said.She is the sister of deposed prime minister Thaksin Shinawatra,who is in exile in Dubai.The victory is being seen as an expression of voter dissatisfaction with the ruling elite.
The Thai army has accepted the result.She is to hold discussions with them.Ms.Shinawatra made the namaste gesture,her hands pressed together,as she acknowledged her victory.
China's purchasing managers indexes have come in less than expected,showing that the government's efforts to prevent bubbles from forming are having an effect.The manufacturing PMI was at 50.9,and the service sector PMI registered a 57.0 for June,indicating growth was still occurring,but at a slower pace than had been supposed.
The Asian markets all opened higher on Monday morning in reaction to Wall Street's strong performance on Friday.
Hong Kong went to work in hot and humid conditions,with the temperature at 88F and the humidity at 70%.Winds were southwest at 15mph under partly cloudy skies.
The Thai army has accepted the result.She is to hold discussions with them.Ms.Shinawatra made the namaste gesture,her hands pressed together,as she acknowledged her victory.
China's purchasing managers indexes have come in less than expected,showing that the government's efforts to prevent bubbles from forming are having an effect.The manufacturing PMI was at 50.9,and the service sector PMI registered a 57.0 for June,indicating growth was still occurring,but at a slower pace than had been supposed.
The Asian markets all opened higher on Monday morning in reaction to Wall Street's strong performance on Friday.
Hong Kong went to work in hot and humid conditions,with the temperature at 88F and the humidity at 70%.Winds were southwest at 15mph under partly cloudy skies.
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