Pro-Finish continues investment after got a big order

It’s been 18 years since Pro-Finish has been established and continued investing in Thailand. Reaffirming their high quality of production process and quality control to gain trust from overseas watch manufacturers. In 2018, it was expected that Thailand’s watch market will be expanding after the increasing of  Thai’s economy and tourists.

From Pro-Finish representative reveals that the company has been registered since March 13, 2000 with authorized capital of 100 million Bth. The corporate has been conducted business for 18 years and continuously investing in Thailand by expanding production line and upgrading their machines to cover up market’s needs.

Now, Pro-Finish is on the process of roof-top solar electrical energy project, which is going to be energizing the manufacturing plants. Is has been expected that the project will help reduce the cost of energy consumption. Besides, The manufacturing line also has been expanded as well.

Pro-Finish Co.,Ltd. is conducting business in manufacturing metal watch wrist strap for export located at Ladkrabang Industrial Estate, Export processing Zone 3. In terms of manufacturing, materials are imported from authorized manufacturers and composed to export to Swiss watch manufacturers.

The Pro-Finish products are made from Hi-Tech machine. The products’ quality is tested and controlled by aced staffs and technicians through every single processes to ensure that the products of Pro-Finish are super-fine and are accepted by overseas watch manufacturers.

“Thailand is the important manufacturing site of Southeast Asia region because the readiness of skilled workers and its cost. Thailand is located in strategy location which is suitable for air transport and shipping. Besides, the fundamental infrastructure in Thailand is ready to attract investors to invest in Thailand each year.” 

The half-year Thailand’s watch market overview, the enlargement of the market is about 2-3% comparing to this period of the previous year. Because the economy is getting better and return rate of watches is about 10% enabling middle-to-top class people begin to buy watch for wearing or for collection.

This is to say, the hi-end to middle watch market is quite noticeable refer to statistic from Baselworld 2017. It shows that watch market margin of Thailand is around 45,900 Million Bth expanding ~2-3% compare to previous year; 19,379 Million Bth is from 100,000-500,000 Bth group.

“We have to accept that the number of middle-class people is increasing; and watch brands see this group as a opportunity. The popular models have been changed their materials to be more affordable; together with Thai taxation and promotion allow watch market to be the 3rd Asia’s largest market and to be world’s watch manufacturers’ destination”

For the Thailand’s watch market breakdown, the 45,900 million Bth is consisted of Luxury class (500,000 Bth~) 9,180 million Bth, Hi-End class (100,000-500,000 Bth) 19,379 million Bth, Mid-Tier class (20,000-100,000 Bth) 10,405 million Bth and Fashion class (5,000-20,000 Bth) 6,935 million Bth.

Overall Thailand’s economy in 2018 has a brighter future after the sign from the last quarter in previous year. Government sees Gross Domestic Product: GDP will be expanding to 3.8% and head of Thailand’s department of economy Dr.Somkid Jatusripitak announced that This year is the best year of this government.

Last October 2017, Fiscal Policy Office, FPO has been announced projected economic situation of 2018 ‘The GDP will be expanding at 3.8% which currently is 3.3-3.4%’. And recently Aphisak Tantiworawong the finance minister claimed that Thailand economy will reach 4.1% which is an affirmation of Thailand’s bright future.

While Dr.Somkid Jatusripitak, Deputy Prime Minister, the key man of economy team, sees 2018 as the year of reaping of what since then has been sow including village internet project or PromtPay. It has been expected that the projects are going to finish in this mid-year and escalating Thailand to be digital driven economy.

The black bone is the government’s big project investments which is going to be full throttle consisting of Eastern Economic Corridor: EEC or double track railway project. Dr. Somkid believes that this is a golden year of Asia's countries and Thailand is going to be raising as well.

Ministry of Commerce projects Consumer Price Index : CPI (inflation) of 2018 to be 0.6-1.6% which is under the assumption of 2018 economic expansion at 3.5-4%. Dubai Crude Oil Price is 50-60 USD per barrel and exchange rate is at 33-35 Bth a USD. It is believed that the predicted inflation rate is not over that 1%. Besides, government has to continue support agriculture sector and SMEs as well.