- Business News
MQDC’s Well Living Expo: Building a sustainable future one home at a time with a 30-year warranty
Leading real estate developer MQDC hailed the success of its MQDC Well Living Expo at Siam Paragon, which took place from October 12 to 15. The expo stressed the importance of holistic homes and a 30-year warranty towards achieving a sustainable quality of life, in line with MQDC’s For All Well-Being mission. Chief Operating Officer of MQDC, Assada Kaeokhiao, said…
- Business News
Thai banks see 0.71% loan growth as SMEs and households struggle
Thailand’s top six banks reported a meagre loan growth of 0.71% in the first three quarters of 2023, as compared to the same period in 2022. This slowdown is primarily due to reduced loan uptake by small and medium-sized businesses (SMEs) and an increase in household debt. The six banks—Bangkok Bank (BBL), Kasikornbank (KBank), Krungthai Bank (KTB), Siam Commercial Bank…
- Business News
BGRIM’s solar sonata: Renewable energy giant strikes the right chord in Italy
BGRIM, a leading player in the renewable energy sector, has launched a new project for a solar power plant in Italy. The Ortanova project involves the development of an 80.9-megawatt ground solar energy system, complete with a tracking system. This initiative is in response to the growing global demand for clean energy. The undertaking is steered by RES Co Sicilia…
- Business News
Thailand’s business travel bounce-back: TCEB predicts 2024 revival, 2019 return by 2025-26
The Thailand Convention and Exhibition Bureau (TCEB) forecasts a business travel sector revival by 2024, with 23.2 million travellers expected. However, it predicts a business travel return to the pre-pandemic levels of 2019 only by 2025 or 2026 due to global economic unpredictability. TCEB’s president, Chiruit Isarangkun Na Ayuthaya, revealed that their business travel revival strategy will focus on stimulating…
- Business News
Thai beauty giants Srichand and Karmarts paint the world with global expansion plans
Srichand United Dispensary Co and Karmarts Plc, two Thai beauty corporations, are preparing for global expansion. Srichand’s Chief Executive, Rawit Hanutsaha, disclosed plans for aggressive international growth, particularly in Indonesia due to its large beauty market and population. The firm is in the process of identifying suitable Indonesian distributors and is also considering Malaysia. Srichand has already established a global…
- Business News
SET forecasted to dip amid US bond yield uncertainty
The Stock Exchange of Thailand (SET) index, which dipped below 1,400 points last Friday, is anticipated to continue its downward trajectory this week, potentially hitting 1,330 to 1,350 points, as per market analysts’ predictions. Factors contributing to this trend include fluctuating US bond yields and uncertainties in global factors. Wikij Tirawannarat, a senior executive at Bualuang Securities, pointed out that…
- Business News
Thai Cabinet fuels up for savings: Gasohol 91 prices set to drop
The Thai Cabinet today gave initial approval for a 2.5 baht per litre reduction in the price of gasohol 91 for three months, likely to start from October 31, as stated by the Thailand Energy Minister. Thailand Energy Minister Pirapan Salirathavibhaga confirmed that this price cut would be facilitated by a 2.5 baht per litre reduction in excise tax, a method…
- Business News
Asia’s crypto craze: Bitcoin’s impressive ascent fuels ETF hopes
The cryptocurrency market witnessed a notable surge in Asia, with Bitcoin reaching a near 18-month high. The climb in value today, October 24, by over 6% to US$35,198, is the highest recorded since May 2022 and is the result of speculation around the potential launch of a Bitcoin exchange-traded fund (ETF). Monday, October 23, saw Bitcoin’s best session in almost…
- Business News
Thai government’s policy paradox: Digital wallet scheme and minimum wage hike under fire
The Thai government of Prime Minister Srettha Thavisin has faced significant challenges since coming to power seven weeks ago, with various commitments made during their campaign now under scrutiny. A crucial task includes the repatriation of Thai citizens affected by the Middle East conflict and the ongoing Israel-Hamas unrest. The Thai government’s promise to hike the daily minimum wage to…
- Business News
High demand for SAF production expected by Bangchak in 2025
Bangchak Corporation, a leading energy conglomerate listed on the Stock Exchange of Thailand (SET), anticipates a significant demand for Sustainable Aviation Fuel (SAF) production once it enters the market next year. The prediction comes as awareness about the environmental impact of traditional jet fuel increases among companies. Chaiwat Kovavisarach, Bangchak’s Group Chief Executive, revealed they had received a very warm welcome…
- Business News
Thai therapists popularity in the Middle East bolsters remittances amid conflict
Overseas Thai workers are in the limelight as the conflict in Israel escalates in the region. Over 7,000 Thai individuals are awaiting evacuation, with instances of Thais being kidnapped by militants. Records from the Bank of Thailand reveal that the remittance from these overseas workers in the first three quarters of the current year was around 184 billion baht. Israel and…
- Business News
Impending drought poses significant threat to Thai export sector
The Thai economy braces for another challenge as impending drought threatens its critical export sector, following last month’s extensive flooding. Despite an improvement in exports in August, marking a recovery from an 11 month decline, the impending drought could significantly impact food manufacturing and shipments. The Federation of Thai Industries (FTI) highlighted concerns over the potential repercussions of water shortages…
- Business News
ACE’s 18 solar projects to boost revenue with 665m baht annually
Absolute Clean Energy (ACE), a prominent biomass power developer and operator based in Bangkok, is set to see a significant increase in revenue following the selection of its 18 solar power generation ventures to feed the national grid. The projects are being executed under the umbrella of ACE’s 14 entirely owned subsidiary companies. ACE, in a recent announcement by its…
- Business News
Thailand set to become ASEAN’s gaming hub, says Thailand Game Show organisers
With its burgeoning gaming sector, Thailand is poised to become the gaming hub of the ASEAN region, according to organisers at the Thailand Game Show 2023. The nation’s gaming industry, valued at 30 billion baht, is leading in Southeast Asia and ranks 20th globally. In addition to boasting impressive user numbers and hosting gaming competitions, Thailand is also nurturing game…
- Business News
Business collaboration: Thailand and Japan’s Wakayama join forces in furniture and agriculture sectors
Thailand is geared towards fostering new partnerships with Japan’s Wakayama prefecture, with a particular emphasis on the co-development of the furniture and agricultural processing sectors. The main objectives of this business collaboration include enhancing product development and expanding export possibilities. Commerce Minister Phumtham Wechayachai, following a discussion with Wakayama’s governor, Kishimoto Shuhei, yesterday, stated that he urged the prefecture to…
- Business News
Sky skirmish looms: Low-cost airlines face turbulence from price-dumping giants
The survival of emerging low-cost carriers in Southeast Asia could be threatened as dominant airlines may resort to price-dumping strategies to safeguard their market share. The airline industry’s seat recovery is also projected to take a decade to fully bounce back. Really Cool Airlines’ Chief Executive, Patee Sarasin, previously the chief executive of Nok Air, expects to obtain the Air…
- Business News
Thailand’s SET considers extending trading hours to boost volume
The Stock Exchange of Thailand (SET) is mulling over an extension of trading hours hoping to rekindle its diminished trading volume and value this year. Despite six years of study, no decision had been previously made on the matter. However, Prime Minister Srettha Thavisin recently directed SET to thoroughly analyse the pros and cons of such a move. A preliminary…
- Business News
MAS to review Credit Suisse amid Singapore money laundering scandal
The Monetary Authority of Singapore (MAS) announced its intention to conduct an on-site review of Credit Suisse Group AG. The decision comes in the wake of a far-reaching financial scandal, in which at least one customer of the bank has been charged with money laundering. The review aims to assess the bank’s handling and monitoring of wealthy clients. The local…
- Business News
Sunny-side up: Thai exports set to crack 3.6% growth in 2023
Positive prospects are forecasted for Thai exports next year, with an anticipated growth rate of 3.6%. This rebound follows a projected 2% drop this year, according to a recent report by the University of the Thai Chamber of Commerce (UTCC). UTCC’s president, Thanavath Phonvichai, attributes this optimistic projection to several factors including lower interest rates and easing inflation globally, which…
- Business News
Gulf Energy eyes 50% revenue surge with power plant operations boost
Gulf Energy Development, a Stock Exchange of Thailand (SET)-listed firm, is looking forward to a 50% revenue surge, breaking past the 100 billion baht (US$3.03 billion) mark this year. This significant increase is due to the addition of electricity generation capacity and the full operation of its power plants. In the previous year, the company’s earnings stood at 95 billion…
- Business News
Thai stock exchange rises 1.5% but investors remain cautious
The Stock Exchange of Thailand (SET) experienced a 1.5% rise on October 11, attracting foreign investors who bought almost 3 billion baht (US$82,648,050) in stocks. Despite this, seasoned investor 50 year old Watchara Kaewsawang, exhibited caution about re-entering the market, citing the recent increase as a short-lived technical rebound following a series of downturns. Watchara acknowledged that his trading activity…
- Business News
Real estate giant Siam Piwat secures global partnerships to boost retail reputation
The Siam Piwat Group, a leading real estate and retail developer in Thailand, secured partnerships with seven global retail giants, boosting its reputation as a popular global destination. The group, which owns and operates several prominent shopping centres, including Siam Paragon, Siam Center, Siam Discovery, ICONSIAM, and Siam Premium Outlets Bangkok, has also been in talks with Hyundai Department Store…
- Business News
Revved up worries: Middle East turmoil puts Thai car exports in the hot seat
The Federation of Thai Industries’ Automotive Industry Club warned that the ongoing Middle East conflict could potentially disrupt car exports to the region. Particularly, the popular pickup exports could see a downturn if the dispute remains unresolved. Given the current stagnation in domestic sales, the Thai auto industry relies significantly on its exports. Surapong Paisitpatanapong, the vice-chairman of the Federation…
- Business News
Chinese corporations eye investment in Thai green economy
Chinese corporations have expressed their intent to invest in Thailand’s green economy and development projects, renewable energy, electric vehicles (EVs), and transportation infrastructure, according to Prime Minister Srettha Thavisin. The Chinese investment announcement came after discussions between PM Srettha and Chinese business executives at the 3rd Belt and Road Forum for International Cooperation (BRF) in Beijing. The 61 year old…
- Business News
Thai businesses on track to navigate energy price cuts: TDRI concerns loom
Thai businesses are assessing the implications of the government’s recent energy price cuts, amidst concerns from the Thailand Development Research Institute (TDRI) about the potential adverse long-term effects of the policy. The Srettha Thavisin-led government has decided to slash the power tariff from 4.45 baht per kilowatt-hour to 3.99 baht between September and December and cap the retail price of…
- Business News
Chinese investment in Thailand gains speed amidst economic slowdown
Chinese firms have significantly increased their investment in Thailand this year, despite China’s economic slowdown, providing a much-needed boost for the Thai Prime Minister, Srettha Thavisin. The increase in investment comes as a welcome relief amid concerns about the impacts of the world’s second-largest economy’s sluggish recovery on global growth. However, Thailand continues to appeal as a crucial investment hub…
- Business News
Thai court halts government’s wind power purchase scheme over selection irregularities
The Central Administrative Court‘s ruling to halt the government’s scheme to purchase 1,500 megawatts of wind power, on grounds of alleged irregularities in power plant selection, prompted the Energy Regulatory Commission (ERC) to gear up for an appeal. The judgement came in response to Khon Kaen Wind 2 Co, a subsidiary of the SET-listed Energy Absolute (EA), who had voiced…
- Business News
Thong Fah outlets to join online food delivery platforms for cheaper fare
Future talks are in the works between the Internal Trade Department and multiple food delivery platform operators such as Thong Fah food outlets. The goal is to integrate Thong Fah (Blue Flag) outlets into their online systems. These outlets sell food at low prices, potentially helping customers save on daily food costs. Wattanasak Sur-iam, the Internal Trade Department’s director-general, revealed…
- Tourism News
Thai visa extension for Russians sparks mixed industry reactions
The Thai Cabinet’s decision to extend the stay period for Russian tourists under the visa extension to 90 days, from the previous 30 days, has sparked mixed reactions. While some tourism operators fear an increase in illegal work activity, others in the south see potential for a boost in spending. The new policy, announced on Monday, aims to stimulate the…
- Economy News
FTI urges new regulatory body to curb cheap Chinese imports
The Federation of Thai Industries (FTI) urged the Industry Ministry to establish a novel regulatory body to supervise product standards. The move is intended to curb the influx of inexpensive Chinese imports, which the FTI claims are flooding the Thai market. The FTI did not clarify whether the proposed regulatory body would be governed by the state or the business…
