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Thailand: Malaysian firms calm in face of political turmoil

Malaysian firms with exposure to Thailand remain unaffected by the political turmoil that is ravaging Bangkok, but if the situation worsens, there will be an impact, said Federation of Malaysian Manuf…

Malaysian firms with exposure to Thailand remain unaffected by the political turmoil that is ravaging Bangkok, but if the situation worsens, there will be an impact, said Federation of Malaysian Manufacturers (FMM) president Datuk Mustafa Mansur. FMM members were closely monitoring the situation, he said. “We have not received reports from any of our members (that the political unrest in Bangkok has affected business). Their businesses are mainly either within Rayong or in the southern region of Thailand,” he said. Most of the FMM members with operations in Thailand are from the automotive and rubber-based industries. “If the situation gets worse, there would be an impact as it would affect the entire economy,” Mr. Mustafa said. Ajiya Bhd, which is investing MYR 20 million in a glass processing plant in Bangkok, has not seen its business plans affected by the political turmoil, according to managing director Chan Wah Kiang. “Our investment is long term and we expect the plant to be operational by early next year. Hopefully the trouble in Bangkok would be over by then,” he said, adding that the plant was located some 45 minutes to an hour away from “where the problems are”. “But if the problem drags on, than there would be an impact,” Chan acknowledged. Earlier in May, Fraser & Neave Holdings Bhd chief executive officer Tan Ang Meng said the company expected the protests in Thailand to have minimal impact on its dairy and soft drinks business. “The impact would be more on night-time businesses, such as restaurants and pubs,” he was quoted as saying in a previous report.

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