00:02Inside a two-story workshop on the outskirts of Bangkok, filled with the sharp smell of resin
00:07and paint thinner, a small art toy business is under pressure over rising costs and weakening
00:13demand. Founded in 2018 and growing during the COVID-19 pandemic, Matmo Studios artisans make
00:21small handmade figurines, known as art toys, inspired by characters from Thailand's Ramakian
00:27epic and local folklore. It is now facing an unprecedented crisis due to the global disruptions
00:34to oil and shipping caused by the conflict in the Middle East, reflecting the strain on
00:39small-scale businesses with limited financial buffers. Comcrit Tepthian, founder of Matmo
00:45Studio, said production costs, which account for around 60 to 70 percent of total expenses,
00:52have risen sharply, particularly for plastics, imported materials and shipping.
00:57Plastic bonds, such as plastic bonds. But before, there will be an increase in the
01:03water, which is like the flavor of their own. But now, it's going to be 1,5 percent
01:09or 50 percent in the amount. For example, in the resin that we've seen recently, the resin
01:17is about 200 baht per month, which is a lot of waste. It's a lot of waste.
01:25Disruptions to oil and petrochemical flows through the Strait of Hormuz following the outbreak of conflict have tightened global chemical
01:32supplies and pushed prices of plastics and polymers used in everything from auto parts to toys to around four-year
01:39highs.
01:40Comcrit, who employs a staff of 10, said sales have fallen by more than 30% since the start of
01:47the year and that pre-orders have disappeared over the past month.
02:20The business is currently relying on remaining reserves,
02:24and existing orders to maintain cash flow and he has discussed possible job cuts with some staff to reduce costs.
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