Alex Morgan
- Business News
Thonburi Healthcare to invest 1.5 billion baht in cancer centres
Thonburi Healthcare Group Plc (THG) will invest 1-1.5 billion baht to establish three cancer centres in Thailand, aligning with the trend of specialised hospitals and expanding its operations in Myanmar and Vietnam. According to the Chief Executive, Dr. Tanatip Suppradit, the company aims to meet the increasing demand for hospital beds in Myanmar and enhance its wellness business in Vietnam.…
- Business News
Loan and behold: NPLs spike as economy recovery stumbles
The Bank of Thailand reported a rise in non-performing loans (NPLs) within the banking industry for the first quarter, attributing the increase to all types of loan products amidst an uneven economic recovery. NPLs in the banking sector reached 502 billion baht, equivalent to 2.74% of total outstanding loans in the first quarter, an increase from 2.66% in the previous quarter.…
- Business News
Cassava crunch: Thai exports take a dip with 16.4% drop in Q1
Thai exports of cassava and cassava products fell by 16.4% year-on-year in the first quarter, largely due to a reduction in cassava chip output. The Director-General of the Trade Policy and Strategy Office, Poonpong Naiyanapakorn, reported that the export value of cassava and cassava products reached 33.2 billion baht for the first three months of this year, marking a 16.4%…
- Business News
Philippines aims to be Asia’s next logistics hub with US support
According to President Ferdinand Marcos Jr, the Philippines is positioning itself as Asia’s next manufacturing and logistics hub, leveraging its strengthening relationship with the United States. Under the leadership of Marcos, the Philippines has bolstered its defence and economic cooperation with Washington, which recently committed to accelerating investments in the nation’s transport infrastructure, clean energy, and semiconductor supply chains through the…
- Business News
Thailand’s sports equipment market to hit 32 billion baht
The sports equipment market is set for significant growth in the coming years, thanks to a surge in consumer interest in health and wellness since the Covid-19 pandemic began. President of the Thailand Sporting Trade Association Kitti Charoenpornpanichkul reported that the domestic sports equipment market reached a value of approximately 30 billion baht (US$826 million) last year. This figure surpasses…
- Business News
Startups urge inclusion in Thai digital wallet scheme
Startup communities are urging the Finance Ministry to include them in the government’s upcoming digital wallet scheme. They see this as a pivotal chance to promote the adoption of digital technologies among small and medium-sized enterprises (SMEs), fostering digital transformation. President of the Thai Startup Trade Association Yutthana Srisavat, alongside Pawoot Pongvitayapanu, a leading figure in the startup ecosystem has…
- Business News
Thai hotels urge reform of unfair land and building tax rates
Hotels are calling for a revision of the property tax calculation based on land appraisal prices and business income to address the uneven recovery within the hospitality industry. President of the Thai Hotels Association (THA) Thienprasit Chaiyapatranun highlighted that the land and building tax remains a significant challenge for hotel operators. This year, the full rate is set to be…
- Business News
Indonesia seeks Tesla EV battery plant with Musk’s interest
Indonesia is once again courting Elon Musk’s interest in establishing an electric vehicle (EV) battery plant within its borders. After meeting with President Joko Widodo, the CEO of Tesla, Elon Musk, is set to consider the proposal, as confirmed by Indonesia’s Coordinating Minister of Investment, Luhut Pandjaitan. Musk’s immediate response was not available following the announcement made by Luhut to…
- Business News
Vietnam prioritises economic growth despite global challenges
Vietnam will focus on bolstering economic growth despite ongoing challenges from weak global demand, announced Deputy Prime Minister Le Minh Khai. Addressing the National Assembly during its summer session, Khai noted that while gross domestic product (GDP) growth has improved, significant hurdles remain. Industrial activity is recovering, albeit at a slow pace. Vietnam, now a manufacturing hub benefiting from shifting…
- Business News
Thailand’s economy grows 1.5% in Q1, beats forecasts
Thailand’s economy experienced a robust start to the year, expanding by 1.5% in the first quarter compared to the same period last year, according to official data released yesterday. This growth surpassed analysts’ expectations, indicating a positive shift for Southeast Asia’s second-largest economy. Every quarter, the economy grew by a seasonally adjusted 1.1% from January to March, as reported by…
- Business News
Thailand’s future depends on nurturing innovative talent
Thailand’s future hinges on becoming a dynamic centre of innovative talent and progress. The pivotal element in realising this vision lies in securing the right talent—those who bring ideas to life and spearhead transformative change. Throughout a lengthy career, it has been evident that exceptional talents do not merely meet expectations, they redefine them. Good performers play their roles well,…
- Business News
Thai industries launch initiatives to boost SMEs post-pandemic
New initiatives by the Federation of Thai Industries (FTI) aim to bolster local entrepreneurs, particularly small and medium-sized enterprises (SMEs) still grappling with the effects of the pandemic. The FTI is focusing on critical sectors such as agribusiness and the auto parts industry to foster resilience and growth. Efforts are being made to help SMEs become more competitive through the…
- Cannabis
Thailand faces cannabis reclassification deadline
The Government of Thailand faces a rapidly approaching reclassification deadline set by cannabis advocacy groups. Cannabis Future Network, a prominent pro-cannabis group, stated last week that whether the Public Health Ministry intends to fully or partially reclassify cannabis, the decision must be backed by scientific evidence. The group has given the government 15 days to substantiate its stance. Reclassifying cannabis…
- Business News
Thailand aims for 7.5 billion baht from foreign filmmakers this year
Thailand is making a concerted effort to boost its economy by attracting international filmmakers to its scenic and diverse locations. The Tourism and Sports Ministry has teamed up with the Culture Ministry to promote these film locations, aiming to generate 7.5 billion baht (US$206.5 million) in earnings from foreign film companies this year. The collaborative effort was highlighted at the…
- Business News
Plane pain: Soaring airfares hit turbulence amid shortage struggles
Soaring airfares are expected to persist as airlines grapple with a shortage of planes, labour, and spare parts, making it challenging to meet the surging demand for travel. A recent report by ING Bank NV highlights the myriad issues plaguing the global aviation industry, noting ongoing supply-chain constraints. Air travel demand is anticipated to surpass pre-pandemic levels this year but…
- Business News
Home loan difficulties lead to six-year low in housing transfers
Difficulties in securing home loans have led to a significant decline in housing transfers across the country in the first quarter, reaching the lowest level in six years and marking the fifth consecutive quarter of decline. The Acting Director-General of the Real Estate Information Center (REIC) Vichai Viratkapan reported that residential demand nationwide contracted in the first quarter, with housing…
- Business News
Taxing times: Local governments urged to ‘build’ a better law
Local governments must take a more active role in revising the land and building tax law, which has been in effect for five years, according to the Director-General of the Fiscal Policy Office, Pornchai Thiraveja. Pornchai stated that the Land and Building Tax Act of 2019 grants local administrative organisations the authority to collect taxes to fund local development initiatives.…
- Thailand News
Lamborghini to debut electric supercar in Thailand by 2028
Automobili Lamborghini, the renowned Italian luxury sports car manufacturer, plans to introduce its new electric supercar to Thailand, with a global debut slated for 2028. This initiative is part of the company’s broader strategy to reduce carbon dioxide emissions. For years, Lamborghini has been actively developing electric vehicle (EV) technology to support its goal of achieving carbon neutrality, according to…
- Business News
Thailand’s business confidence drops amid wage hike concerns
Business confidence in Thailand took a hit as the Thai Industries Sentiment Index (TISI) dropped in April, reflecting entrepreneurs’ concerns over a slew of economic pressures, including a proposed daily minimum wage increase. The TISI, a measure of the mood in the industrial sector, registered at 90.3 points, a decrease from the 92.4 points recorded in March, as reported by…
- Business News
Finance Minister, Central Bank Chief to discuss interest rates
A crucial meeting is scheduled tomorrow between Finance Minister Pichai Chunhavajira and Bank of Thailand Governor Sethaput Suthiwartnarueput to address the prevailing contention over interest rates. The government, under Prime Minister Srettha Thavisin’s directive, has been advocating for a rate reduction to stimulate the economy. In contrast, the central bank has maintained its key rate at the highest in ten…
- Cannabis News
Gunkul Engineering pulls the plug on cannabis investment
Gunkul Engineering, a Stock Exchange of Thailand (SET)-listed renewable energy firm, is halting its investment in the cannabis industry, awaiting clearer government regulations. The company, which ventured into cannabis and hemp through its subsidiary GK Hemp Group, has already spent nearly 500 million baht (US$14 million) on developing its cannabis project but is now pausing further expenditure. The firm’s decision…
- Business News
Central Retail reports 6% revenue boost to 67.3 billion baht
Central Retail Corporation‘s first quarter earnings report revealed a robust performance, with a 6% revenue increase to 67.3 billion baht (US$1.84 billion). Significantly, the company’s net profit jumped by 14% to 2.52 billion baht (US$ 70 million) compared to the same period last year. Under the leadership of Yol Phokasub, the company has seen a notable shift towards omni-channel retailing,…
- Business News
Superrich faces stalled growth as tourists prefer travel cards
Renowned local money changer Superrich Currency Exchange (1995) Co, known by its SuperRich Orange brand, has faced a challenging start to the year with its transaction growth stalling at zero during the initial four months, despite an increase in foreign travellers. The stagnation in Superrich’s growth is largely due to the rising popularity of travel card services, which are increasingly…
- Thailand News
Thailand champions LGBTQ rights with World Pride 2030 bid
As Thailand gears up to potentially host the prestigious World Pride event in 2030, Siam Piwat Group is championing a progressive stance on LGBTQ rights. The property and retail giant has launched the “Celebration: Right to Love” campaign in anticipation of the same-sex marriage bill’s enactment by the end of the year. This legislative milestone would position Thailand as the…
- Business News
Johor, Singapore aim for Shenzhen-like economic zone
The Malaysian state of Johor suggested its economic and petrochemical centres as potential locations for a special zone with neighbouring Singapore. This proposal is part of Johor’s ambition to become the Shenzhen of Southeast Asia, according to the Star’s report. The proposed area will include Iskandar Malaysia and Pengerang, located on the state’s eastern coast, said Johor Menteri Besar Onn…
- Business News
Thai industry leader defends Bank of Thailand’s financial autonomy
Federation of Thai Industries (FTI) Vice Chairman Montri Mahaplerkpong voiced opposition to any proposals that would impede the Bank of Thailand‘s (BoT) authority over its financial stability management. Montri argued that the government should explore more palatable solutions to its disagreement with the BoT over policy rates, rather than attempting to curtail its power, which he sees as a contentious…
- Business News
Former executive brings fresh perspective on talent management
A former corporate executive and business consultant, with over 15 years of experience working across various industries, recently transitioned into writing business articles and offering expert commentary on business-related matters. With a newfound focus on continuously evolving business strategies and management principles, the 42 year old former executive now leverages in-depth knowledge of market trends to decipher the complexities of…
- Thailand News
Rayong tourism suffers after industrial area explosion
Tourism in Rayong has suffered a setback after a pyrolysis gasoline tank in the Map Ta Phut industrial area exploded on Thursday, resulting in one death and four injuries. The incident led to a flurry of tour cancellations at several fruit farms in the area, despite being located 40 to 50 kilometres away from the site of the explosion. The…
- Business News
Red Bull’s global charge: TCP Group aims high
TCP Group, the firm behind the manufacture and distribution of Krating Daeng, also known as Red Bull, has set its sights on international markets due to their high growth potential. The management is also keeping an eye on escalating costs. Spearheaded by TCP Group’s CEO Saravoot Yoovidhya, the company observed a growth of merely 4-5% in the energy drink market…
- Thailand News
Energising event: Thailand hosts future energy Asia summit
Thailand will host the Future Energy Asia Exhibition and Summit from May 15 to 17 at the Queen Sirikit National Convention Center in Bangkok. The event highlights Thailand’s crucial role in fostering a sustainable regional energy transition and underlines its commitment to this cause. Currently, Thailand’s energy sector is undergoing a significant transformation. The government has laid down ambitious targets…
