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SINGAPORE : Singapore businesses with operations in Bangkok said they are closely monitoring the situation there, and will soon be making efforts to bump up security around its premises.
Most remain positive, saying business has mostly been unaffected by the disruptions at the international airport in Bangkok.
UOB said it will take appropriate measures to safeguard its staff and customers' interest. The lender added that it is business as usual at all of its branches and offices in Thailand.
Luxury resorts operator Banyan Tree will also be stepping up security around its properties. So far, it has received one or two cancellations from guests, but it remains confident that it will be able to weather these difficult times.
Banyan Tree said it will do its best to help guests who have been inconvenienced, and who may need to defer their travel plans or who prefer to move to another Banyan Tree destination.
Singapore businesses in Thailand range from the retail sector to food services and even logistics. Most firms are keeping a positive stance, despite the latest disturbances.
"I really do not know how long this will last. However, we will monitor the situation closely. At the moment, we are not calling off our expansion plan in Thailand. As for today, we still have very strong communication via emails and overseas conference calls to update each other on our business activities," said Desmond Seow, assistant VP of Trusted Hub.
CapitaLand said it, too, maintains a long-term investment view of its operations in Thailand. The property developer added that its local partner is familiar with the ground and will be well-equipped to manage operations amidst the current political situation in Thailand.
Singapore and Thailand have developed close trade ties over the years. Last year, bilateral trade between Singapore and Thailand hit S$31.4 billion, making Thailand Singapore's ninth largest trading partner. - CNA /ls
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