PUBLISHED : 28 Jun 2024 at 04:45
The government could improve the sluggish economy by reducing the cost of living for people, such as slashing utility prices or introducing short-term stimulus measures, says I.C.C. International Plc, the marketing arm for fashion under Saha Group.
Thamarat Chokwatana, president and executive chairman of I.C.C. International, expects flat growth for the Thai economy this year, which may affect the company’s performance.
“The group recorded a sales decline for some product lines in the second quarter, including a 30% drop for fashion goods,” Mr Thamarat said.
As energy prices remain high, which affects the company’s transport costs, the group is striving to control its operating costs, he said.
“The company has not yet considered raising prices for any products,” Mr Thamarat said.
In the case of instant noodles, which are considered a mass market item, the firm may delay price increases unlike other products to minimise the impact on consumers, he said.
Mr Thamarat did not specify how long the group plans to maintain current pricing levels.
The group launched the 28th Saha Group Fair & Fest yesterday, which runs until June 30 at Bitec Bangna, featuring promotions on Saha Group brands.
The fair includes signings of memorandums of understanding (MoUs) and cooperation agreements with partners from Thailand and overseas, including China, Japan and Taiwan. A total of 18 agreements are scheduled to be signed, he said.
Among the MoUs and cooperation agreements being signed is a collaboration with the Faculty of Medicine, Ramathibodi Hospital, to develop a comprehensive senior living centre, and a project with the Industrial and Commercial Bank of China to support and expand mutual business opportunities.
In the area of real estate, the group plans to sign an MoU with Tokyu Corporation, a private Japanese land developer, as well as a pact with Dusit Thani to develop a luxury residence.
