Thai BOI Secretary Says No Words from Isuzu on Relocation to Indonesia

Thailand’s Board of Investment (BOI) Secretary Mr.Narit Therdsteerasukdi revealed that there has been no confirmation from Isuzu Motors Thailand that the company is planning to relocate one of its manufacturing factories to Indonesia, following the news report by Reuters late yesterday.

The comment followed the statement from Indonesia’s Minister of Industry who announced that the country happily welcomes Isuzu’s factory relocation and will provide sufficient incentives to support this transitional process so vehicle production may begin as soon as early 2024.

Minister Agus Gumiwang Kartasasmita met with Isuzu’s executives in Tokyo on Tuesday.

According to Mr.Narit, at the present, more information is required from the Isuzu headquarters in Japan for confirmation and he will notify the public once again.


The share prices of AAPICO Hitech Pcl. (SET: AH), Somboon Advance Technology Pcl. (SET: SAT), and Namyong Terminal Pcl. (SET: NYT) plunged as much as 29%, 10% and and 8.50%, respectively, on Thursday. However, they pared losses at the closing of the morning session after the market digested information from Indonesia and BOI.

AH closed the morning session at THB34.50 per share (-12.10%), SAT closed at THB19.30 (-3.50%) and NYT closed at THB4.16 (-1.42%).