Refit in Asia?

[mikeafloat]

Hi all
I’m in the early stages of planning to buy a cruising yacht (approx 40 foot) and I've noticed a few interesting boats for sale in SE Asia. What do you think about the idea of buying an older boat in need of a refit, and having the work done in Asia, perhaps Thailand?

My questions are:
1) are boat yards in Asia really that much cheaper than in the US/Europe/Australia – and how do the work standards compare?
2) Can anyone recommend a boat yard?
3) What about nations other than Thailand?

Thanks Mike