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 Banyong Pongpanich, chairman of the securities company, expressed his worries at a seminar on Tuesday that given social division, the situation could get worse if there is no reconciliation.

 At the same seminar entitled "Studying crisis to find opportunities", Federation of Thai Industries Chairman Santi Vilassakdanont expected the 4 per cent economic growth next year. He foresaw harder times for business operators and manufacturers, particularly in the second half of the year.

 He noted that overseas orders for Thai products have been declining, for both chemical, steel and electronic products. Many domestic-oriented industries could also suffer and lay off employees. While 500,000 currently-hired employees would be laid off, about 500,000 fresh graduates may stay unemployed.

 Small and medium-sized enterprises (SMEs) would suffer the most, he said, due to more stringent lending requirements. He added that the economy may not benefit largely from the additional government spending of Bt100 billion, in light of financial crisis. As the spending is focused mostly on domestic economy, he urged the government to emphasise more on export promotion.

 He also urged the Bank of Thailand to flex its muscles to stablise the foreign exchange rates, to help the export sector of which growth rate next year could be only 10-15 per cent.

 Surapon Vongvadhanaroj, chairman & CEO of Surapon Foods Plc, noted that Thai manufacturers should diversify export markets, amid demand contraction in key markets and confidence crisis towards Chinese products. At this point, he said Thai manufacturers should not price its products only in US dollar, to diversify forex risks.