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MOEA says Taiwanese firms in Thailand unaffected

The Ministry of Economic Affairs (MOEA) said yesterday that none of the 1,800 Taiwanese companies operating in Thailand reported any damages from Tuesday night's coup d'dtat, but it will closely monitor the situation in the kingdom to ensure their safety.

Taiwanese business associations have told Taiwan's representative office in Thailand that their operations were unaffected by the coup, Minister of Economic Affairs Steve Chen (陳瑞隆) told reporters.

"The coup was bloodless and people are conducting their normal lives ? we are used to this kind of military action as it happened before," a manager of a Thai company in Taiwan said yesterday on condition of anonymity.

Local listed companies with factories in Thailand include Cal-Comp Electronics (Thailand) Pub Co (泰金寶科技), Ji-Haw Industrial Co (今皓實業), Tycoons Group Enterprise Co (聚亨企業) and Taiwan Chinsan Electronic Industrial Co (金山電子).

According to their filings with the Taiwan Stock Exchange, their Thai operations were normal yesterday. The companies said their factories are in the suburbs of Bangkok or outside the city.

A drop in the Thai baht would not gravely harm the companies, as transactions and most material purchases are conducted in US dollars, a Cal-Comp official said.

Government statistics show that as of the end of June, Taiwanese companies reported 1,849 investments worth US$11.79 billion in Thailand, including electronics manufacturing and textiles.
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