Alex Morgan
- Business News
NocNoc leverages AI for personalised consumer experiences with IPO planned for 2028
NocNoc, the e-marketplace specialising in home products and services, leverages artificial intelligence (AI) to deliver personalised online and offline consumer experiences. The platform is expanding into new lifestyle categories to tap into the home and living market, estimated to be valued at around 450 billion baht. Better Bee Marketplace Co, the firm behind the platform, anticipates an initial public offering…
- Business News
Rental woes: KCar sees slowdown as lending rules put brakes on second-hand marke
KCar, formally known as Krungthai Car Rent & Lease Plc, anticipates a deceleration in the second-hand car and car rental markets as financial institutions continue to enforce stringent lending criteria. This is attributable to high levels of household debt and subdued purchasing power. Pichit Chantarasereekul, the managing director of KCar, highlighted that banks are increasingly cautious due to the high…
- Business News
Nex point projects commercial EV sales to hit 5,556 by 2024
Nex Point, a SET-listed local assembler of commercial electric vehicles (EVs), is forecasting sales to hit 5,556 units by the end of 2024. This projection stems from an increased demand from businesses operating in the transport and logistics industries. A rise in such interest is tied to these sectors’ growing commitment to lower carbon emissions. Between January and September of…
- Business News
Thai travel agents expect Chinese tourist surge during Lunar New Year
The Association of Thai Travel Agents (ATTA) anticipates a surge in Chinese tourists during the Lunar New Year holiday, estimating daily arrivals of 20,000 to 25,000. ATTA President, Sisdivachr Cheewarattanaporn, attributes this boost to enhanced charter and scheduled flights, alongside the visa-free scheme designed to spur Chinese demand. Chinese arrivals have shown a marked increase this year, averaging 15,000 to…
- Business News
Pressure mounts on Bank of Thailand to reduce high interest rates
Thailand Deputy Finance Minister Julapun Amornvivat expressed concern that the country’s current interest rates are excessively high, putting strain on citizens’ disposable income and stunting the nation’s economic growth. This stance encourages the Bank of Thailand to reconsider its monetary policies. “The Thai people’s spending power is in jeopardy due to these high rates. I hope the Bank of Thailand…
- Business News
Elon Musk warns Chinese automakers set to drive global rivals off the road
Tesla CEO Elon Musk issued a stark warning, predicting that Chinese automakers will demolish global competition if trade barriers are not enforced. This statement highlights the intense pressure the leading American electric vehicle (EV) company faces from Chinese rivals such as Build Your Dreams (BYD), which are rapidly expanding their global presence. Musk’s warning follows recent developments where BYD, supported…
- Business News
Thailand’s retail sector expects double-digit growth driven by private consumption and online retail
Anticipating a robust year ahead, Thailand’s retail sector is poised for a double-digit expansion. The growth is primarily spurred by a surge in private consumption and the government’s stimulus measures, such as the Easy E-Receipt tax refund scheme and a boom in online retail. However, the rising cost of living is a cause for concern, as stated by the Economic…
- Business News
Thailand to launch green investment trusts for forestry initiatives
Thai regulatory bodies are paving the way for the establishment of investment trusts dedicated to forestry and tree-planting initiatives. These new financial products, dubbed green investment trusts, are part of an effort to diversify the capital markets and provide financial support to sectors that align with carbon neutrality goals. Pornanong Budsaratragoon, the secretary-general of the Securities and Exchange Commission (SEC),…
- Business News
Thailand’s new green utility tariff boosts renewable energy use
The unveiling of a Green Utility Tariff (GUT) next month is set to bring about a significant progression in renewable energy use within Thailand, bolstering local businesses and attracting foreign investment. This move has been eagerly awaited by numerous companies considering expansion into Thailand, as they seek not only the necessary infrastructure but also a source of clean energy to…
- Business News
Bangkok gears up for eighth round of FTA talks with EFTA
Bangkok is preparing to host the eighth round of free trade agreement (FTA) discussions with the European Free Trade Association (EFTA), scheduled to take place from January 30 to February 2. The Thai government aims to wrap up the negotiations by the middle of this year. Chotima Lemsawasdikul, the director-general of the Trade Negotiations Department, has confirmed that the discussions will…
- Business News
Thailand aims to be among top five Asian tech ecosystems
Aspiring to rank among Asia’s top five tech ecosystems within the next decade, Thailand is currently focusing on the development of smart industries, particularly in tourism, healthcare, agriculture, and manufacturing, according to a statement by a corporate innovation accelerator. Dr Kid Parchariyanon, CEO and co-founder of RISE, the accelerator, insisted that the adoption of artificial intelligence (AI), along with nurturing…
- Business News
Thailand’s GDP growth disappoints with a slow 1.8% rise in 2023
GDP growth in 2023 slowed down to a disappointing 1.8%, according to an announcement by the Fiscal Policy Office (FPO). Director-general, Pornchai Thiraveja, attributed this to a combination of negative factors impacting the economy. Originally, the growth was forecast to rise to 2.7% in 2023, based on a projection made in October last year. The less-than-anticipated growth is due to…
- Business News
JKN Global sells 50% Miss Universe stake to Legacy Holding for US$16m
In a bid to deal with its ongoing financial struggles, JKN Global Group Plc, a renowned local media company, has decided to offload a 50% stake in its Miss Universe business. The stake, valued at US$16 million (570 million baht), will be purchased by Legacy Holding Group USA Inc. The group, which is under the control of Mexican businessman Raul…
- Business News
Southeast Asia capitalises on China’s Australian lobster ban
The protracted ban on Australian rock lobsters by Beijing has prompted Southeast Asian countries to capitalise on the opportunity, increasing their seafood exports to China. As the ban continues, the shift in sourcing may become irreversible, experts predict. New Zealand currently dominates the Chinese market for rock lobsters, holding nearly 40% of the total market share, based on data from…
- Business News
Thai PM announces stimulus measures amidst economic crisis
Acknowledging Thailand’s struggling economy, Prime Minister Srettha Thavisin, who also serves as the Finance Minister, said today the government is set to introduce a series of stimulus measures to bolster growth. This revelation comes amidst criticism from Bank of Thailand‘s (BoT) Governor Sethaput Suthiwartnarueput, who argued that the government’s efforts will not rectify the underlying structural problems at the root…
- Business News
Chememan signs Khimsar agreement to become major lime producer in India
Chememan Public Company Limited (CMAN), a leading lime producer, inked the Khimsar Agreement with Khimsar Mine Corporation (KMC), marking its initiative to set up a state-of-the-art lime factory in Khimsar, Rajasthan, India. This endeavour positions CMAN on the path of becoming a significant lime producer in India. The agreement was signed with KMC, a fresh entrant in the Indian mining…
- Business News
SEC considers banning NVDR securities for Thai investors
With plans to limit Thai investors from making investments in non-voting depository receipts (NVDRs), the Securities and Exchange Commission (SEC) is setting up a public hearing to enforce a ban on securities companies offering such services. Citing concerns over NVDR securities as a mechanism to sidestep compliance with regulations or as a means to obscure shareholding data, the SEC believes…
- Business News
Thailand’s tasty revival: Spending spree at food shows signals economic upswing for MICE sector
A surge in spending at food and packaging trade shows indicates a revival in the economy and a favourable trend for business tourism this year. Thailand remains a favoured location for the meetings, incentives, conventions and exhibitions (MICE) sector, according to Informa Markets Thailand, a leading trade show organiser. Kotchasorn Tocharoentanapol, the Deputy Event Director at Informa Markets Thailand, noted…
- Business News
Record-breaking business registrations and foreign investment in Thailand
Business registrations in Thailand soared to an all-time high in the previous year, exceeding 85,000, a figure not seen in the last decade. These registrations represented a total registered capital of 560 billion baht (US$15 billion). Foreign investment also saw a significant rise, hitting 130 billion baht (US$3.6 billion) in 2023, with Japan leading the investment pool. Projections for the…
- Business News
Mobile Cabinet allocates 552 million baht for Andaman Coast development
A total of 552 million baht (US$15 million) has been allocated by the mobile Cabinet towards the development of 18 new projects across six southern provinces on the Andaman Coast. Prime Minister Srettha Thavisin announced yesterday, January 23, after a Cabinet meeting in Ranong. The projects, proposed by the Joint Public and Private Sector Consultative Committee responsible for the southern…
- Thailand News
Hotel bookings skyrocket as visitors flock in
Hotel giant Minor International Plc witnessed an astonishing 20 to 30% spike in bookings for the first two months of 2024 compared to last year. Minor International Plc, dominating the hospitality scene as the nation’s largest hotel operator, is on the brink of a prosperous year. Chairman Bill Heinecke unveils the exciting news, projecting a tourism spending spree in Thailand…
- Business News
Franklin Templeton eyeing expansion into Thailand’s offshore market
Franklin Templeton, an American multinational holding company with a portfolio worth US$1.5 trillion, is contemplating an expansion into Thailand to tap into the local market for offshore products. The Asia-Pacific head, Tariq Ahmad, revealed this in an interview in Hong Kong, however, he did not specify a timeline for the expansion. The firm is also planning to bolster its alternative…
- Business News
Thailand’s economic growth falls short of projections amid potential crisis
The pace of Thailand’s economic recovery slackened last year, falling short of the official predictions, as disclosed by government spokesperson Chai Wacharonke. This could increase the likelihood of the central bank considering an early easing strategy. Chai revealed today, January 23, that the Thai economy only expanded by 1.8% last year, a drop from the 2.6% growth experienced in 2022.…
- Business News
Bitcoin plunges 20% following launch of US Bitcoin ETFs
Bitcoin, the world’s leading digital currency, has seen a sharp decline of nearly 20% since January 11. This follows the launch of the inaugural Exchange-Traded Funds (ETFs) that invest directly in Bitcoin. The downturn has been attributed to increased caution among investors regarding the potential effects of these new financial products. On the day of the ETFs’ launch, Bitcoin soared…
- Business News
SET anticipates Oliver Wyman’s report on Thailand’s securities trading
The Stock Exchange of Thailand (SET) anticipates an imminent report from international consultant Oliver Wyman. The report, expected to be completed in the first week of February, focuses on the suitability of Thailand’s securities trading programs and the prevention of naked short selling. This initiative, led by SET President Pakorn Peetathawatchai, follows investigations into four alleged instances of naked short…
- Business News
Thai SMEs threatened by proposed minimum wage hike and high loan rates
The Federation of Thai Industries (FTI) warned that small and medium-sized enterprises (SMEs) could be significantly affected by the proposed daily minimum wage hike and high loan interest rates. This comes as the government persists in its efforts to increase wages. Towards the end of 2023, a resolution was reached by the tripartite wage committee, composed of representatives from the…
- Business News
US-China tensions fuel e-commerce growth in Thailand
The mounting geopolitical tension between the US and China is precipitating an influx of new e-commerce entities into Thailand, a development set to escalate market rivalry and broaden the scope of the cross-border e-commerce industry. Thanawat Malabuppha, the CEO of Priceza and honorary president of the Thailand E-Commerce Association, asserts that the escalating US-China geopolitical strife has triggered an expansion…
- Business News
TAT targets 7 billion baht tourism revenue surge for Ranong
The Tourism Authority of Thailand (TAT) aims to boost Ranong province’s tourism revenue to 7 billion baht (US$196 million) in the current year, a substantial rise from 6.72 billion baht (US$188 million) in the preceding year. The strategy is to increase the share of international tourists to 15% of total visitors, a significant recovery from the previous year’s slump. Ranong,…
- Business News
SEC enhances high-yield bond oversight amid Thai market instabilities
The Securities and Exchange Commission (SEC) is enhancing oversight measures for high-yield bonds to fortify payment protections and investor assurance, according to remarks made by SEC Secretary-General Pornanong Budsaratragoon. This move comes in response to recent market instabilities caused by numerous defaults and a significant accounting scandal in the speculative debt sector. As part of this heightened vigilance, the SEC…
- Business News
Pandemic sparks faith tourism pilgrimage as seekers find peace in Thailand’s temples
Following the pandemic, a rise in faith tourism as a search for peace and tranquillity has been observed. Temples and sacred spots across Thailand have seen an increase in visitors, and the donation boxes are filling rapidly. Future Markets Insight reported that worldwide, faith-based tourism was worth US$13.7 billion in 2022 and is expected to reach US$40.9 billion in 2033.…
