Alex Morgan
- Business News
NBTC and DES ministry prepare for Thaicom 4 satellite transition in 2024
The office of the National Broadcasting and Telecommunications Commission (NBTC) is working closely with the Ministry of Digital Economy and Society (DES) to prepare for the Thaicom 4 satellite‘s 2024 lifespan expiry at 119.5° East orbit. Dr Sarana Boonbaichaiyapruck, NBTC board chair, held talks with outgoing DES Minister Chaiwut Thanakamanusorn on joint responsibilities. Thaicom previously managed both Thaicom 4 broadband…
- Business News
Kasikornbank’s ASEAN ambitions grow: Eyes on Home Credit Vietnam
Kasikornbank (KBank), the second-largest lender in Thailand by total assets, is in preliminary discussions to acquire consumer finance provider Home Credit Vietnam. This move is part of KBank’s ASEAN business expansion. Home Credit Vietnam belongs to the Netherlands-based non-bank financial institution, Home Credit Group, which is planning to offload its ASEAN businesses. KBank executive vice-president Pattarapong Kanhasuwan revealed the deal…
- Business News
Chery’s EV dreams charge ahead in Thailand: BoI blessings pending
China‘s Chery International, through its subsidiary Omoda & Jaecoo International Co, intends to establish an electric vehicle (EV) production facility in Thailand, pending Board of Investment (BoI) privileges. Qi Jie, Thailand’s national director at Omoda & Jaecoo International, will unveil detailed investment and business plans in the coming months. Chery, one of China’s top vehicle manufacturers, plans to introduce two…
- Business News
Digital economy minister urged to support SMEs and combat online scams in Thailand
The newly appointed Digital Economy and Society (DES) Minister is being urged by industry leaders to combat online scams, bolster cross-border e-commerce for small and medium-sized enterprises (SMEs), and provide additional incentives to businesses for technological investments. The National Broadcasting and Telecommunications Commission (NBTC) is also looking to collaborate with the minister, Prasert Chanthararuangthong, on various initiatives to bridge the…
- Business News
Phuket Airport expansion to double capacity, costing 6 billion baht
Phuket International Airport is set to undergo a significant expansion, as approved by the Airports of Thailand (AoT). The project, which is currently in the design stage, is estimated to have a price of upwards of 6 billion baht. AoT’s President, Kerati Kijmanawat, highlighted the expansion as a primary agenda during Prime Minister Srettha Thavisin’s recent visit. The proposed airport…
- World News
AEC meeting to discuss digital economy and sustainability for ASEAN
The ASEAN Economic Council (AEC) meeting, set to take place in Jakarta, Indonesia, will be attended by Thai representatives, the objective being the discussion of the Digital Economic Framework Agreement (DEFA) progress. The upcoming 43rd ASEAN Summit’s preparations will also be a focal point in the discussions. Director-General of the Department of Trade Negotiations, Auramon Supthaweethum, shared with the press…
- Business News
JKN Global reassures investors after bond payment rescheduling
JKN Global Group Plc (JKN), the owner of the Miss Universe Organization (MUO), reassured investors that its financial status is robust, despite a recent bond payment rescheduling caused by a liquidity mismatch. Jakkaphong Jakrajutatip, the chief executive and managing director, said at a briefing that the company is set to meet its revenue target of over 3 billion baht this…
- Business News
Thailand’s free visa initiative to boost Chinese tourist influx by 700,000
Thailand‘s government’s initiative to issue free visas to visitors from China is expected to boost visitor figures by 700,000 during the high season, according to the Tourism Authority of Thailand (TAT). TAT governor Thapanee Kiatphaibool noted that Thailand typically receives between 350,000 and 400,000 Chinese visitors monthly, totalling 2.1 million in the first eight months of this year. Thailand accounted…
- Business News
Ratch Group earmarks 35 billion baht for business expansion
Thailand’s leading private power producer, Ratch Group Plc, remains steadfast in its decision to allocate a capital expenditure of 35 billion baht for the expansion of its operations in both the power and non-power sectors this year. Chief Executive Choosri Kietkajornkul said that out of this capital allocation, 29 billion baht is for investments in power generation. She further revealed…
- Business News
AIS withdraws lawsuit against NBTC over True-DTAC merger approval
AIS, the telecommunications giant, recently took a surprising turn as it withdrew its case against the National Broadcasting and Telecommunications Commission’s (NBTC) decision, which recognised the merger between True Corporation and Total Access Communication (DTAC), its two direct competitors. The lawsuit contended that the NBTC board had failed to exercise its authority to regulate the deal according to existing regulations.…
- Business News
Media meltdown: JKN global struggles as shares drop amid debenture dilemma
JKN Global Media Plc’s shares plummeted to 1.67 baht during early trade as the company acknowledged its inability to fully repay the 609 million baht debenture due that day. This debenture is part of a seven-series set, totaling 3.36 billion baht. After the disclosure on the Stock Exchange of Thailand (SET), JKN Global Media’s shares tumbled by 29.8%, a drop…
- Aviation News
Thai Airways takes off in new direction with operational shake-up
Thai Airways International (THAI) Public Company Limited today announced several operational changes. THAI will use Airbus A320 aircraft for routes formerly managed by THAI Smile Airways: Ahmedabad, Kaohsiung, and Penang. The A320s will also fly to Kolkata, a route currently operated by THAI. Changes begin on September 1 for Ahmedabad and October 15 for Kolkata. The detailed flight schedule is…
- Business News
Power play: FTI cheers new government’s energy cost pledge
The Federation of Thai Industries (FTI) expressed its satisfaction with the newly elected government’s commitment to lowering energy costs and retail diesel prices. Newly inaugurated Prime Minister Srettha Thavisin has prioritised energy price reductions as an early objective of his administration. An immediate cut in energy prices has been promised by the 61 year old Srettha and his Cabinet upon…
- Business News
Rice and shine: Thailand sets sights on 8 million tonnes export mark
The director-general of the Department of Foreign Trade, Ronnarong Phoolpipat, announced that Thailand’s rice exports are expected to achieve the target of 8 million tonnes this year. This forecast comes after the recorded shipments through to August 29 reached 5.29 million tonnes, reflecting a year-on-year increase of 11.9%. This upswing in rice exports aligns with the rising concerns over drought…
- Business News
ATTA doubts efficacy of free visa plan for Chinese tourists
The Association of Thai Travel Agents (ATTA) has expressed scepticism about a government proposal to offer free visas to Chinese tourists as a means of stimulating demand. ATTA cites economic difficulties and a weak currency as challenges that could render this initiative ineffectual, particularly in the face of flight and staff shortages. The Federation of Thai Tourism Associations and the…
- Business News
Global investors navigate high interest rates amid inflation control efforts
Amid recession concerns, inflation, and high interest rates, investors seek promising investment avenues. Stock enthusiasts believe global interest rates are close to peaking, while central banks watch inflation. The US Federal Reserve raised the federal funds rate to 5.25-5.50% in July, the highest in decades. The European Central Bank increased rates by 0.25%, and the Bank of Japan hints at a…
- World News
Singapore grapples with massive US$740 million money laundering scandal
Singapore is grappling with one of its largest-ever money laundering cases, involving over S$1 billion (US$740 million) of assets. Individuals, recently arrested and charged, allegedly held millions from unauthorised lending in China and illicit gambling in numerous banks such as United Overseas Bank, Citigroup and RHB Bank’s local units. Attempted fraud using counterfeit documents was also reported on banks including…
- Business News
Premium privilege: Thailand Elite Card set to increase membership fee by 50%”
Thailand Privilege Card Co (TPC), operator of the Thailand Elite Card, announced plans to increase its base membership price by 50%, raising it from 600,000 baht to 900,000 baht. The move is part of the company’s strategy to boost its annual revenue to 8 billion baht. In addition, the company will be introducing four new types of cards, all of…
- Business News
NBTC developing nationwide streaming platform for digital TV by 2025
The National Broadcasting and Telecommunications Commission (NBTC) is set to develop a nationwide streaming platform, aiming to streamline all real-time streaming content from existing digital TV channels. The platform is anticipated to be fully operational by 2025, aligning with the NBTC’s online migration plan and catering to the increasing number of online content consumers. This initiative is also expected to…
- Business News
Thai government considers utility tokens to boost digital wallet initiative
The Pheu Thai-led government is anticipated to roll out utility tokens to bolster its digital wallet initiative, a move pending approval from the Bank of Thailand as the regulator currently bans using tokens as payment, according to Asia Plus Securities (ASPS). The financial services company projects that the government will issue Type 1 utility tokens, each valued at 10,000 baht,…
- Business News
Thailand’s PM plans to boost tourism revenue to US$100 billion by easing visa rules
Thailand Prime Minister Srettha Thavisin has proposed a plan to boost tourism revenue to nearly US$100 billion next year. This involves loosening visa regulations for travellers from China and India and extending the duration of stay for tourists from all nations. Chinese travellers, who accounted for the most significant proportion of visitors pre-Covid-19, have been subjected to a taxing visa…
- Crime News
Online impostors scam public with high-profile personas as digital deception thrives
Members of the public are being targeted by fraudsters posing as high-profile business figures as online scams continue to run rife. Authorities warned potential investors to exercise caution and authenticate any investment links or messages they receive, following a spike in scam cases. The Digital Economy and Society (DES) Ministry identified common traits among scammers, most notably the promise of…
- Business News
CKP and BEM partner for Thailand’s first solar-powered mass transit rail
CK Power Plc (CKP) Bangkok Expressway and Metro Plc (BEM) have forged a partnership to bring the first solar-powered mass transit rail systems to Thailand. The collaboration aims to utilise solar energy to power the MRT Chalerm Ratchamonkol Line (MRT Blue Line) and the MRT Chalong Ratchadham Line (MRT Purple Line) which, combined, span over 71 kilometres and have 54…
- Economy News
Thai tourism faces strain from sluggish Chinese, Japanese economies
Tourism operators in Thailand are facing significant challenges due to the sluggish economies of China and Japan and an uneven recovery in Thai tourism that benefits larger operators. A recent survey by the Thai Hotels Association (THA) and the Bank of Thailand revealed that 29% of three-star or lower-rated hotels have been severely impacted by interest rate hikes and may…
- Business News
Thailand’s Q2 economic recovery slows, full-year 2023 growth forecast revised
Thailand’s second quarter of 2023 saw a slowdown in economic recovery, with GDP growth falling from 2.6% year-on-year in the first quarter to 1.8%, as reported by the National Economic and Social Development Council on August 21. The figures fell significantly short of consensus estimates of 3.1% and growth projections of 2.9%. The economy’s quarter-on-quarter growth was a mere 0.2%,…
- Business News
Thailand’s household debt soars as auto loans and cooperative debts spike
The secretary-general of the National Economic and Social Development Council (NESDC) issued a warning over the steady increase in Thailand‘s household debt. The critical areas requiring stringent monitoring were identified as auto loans and debt originating from savings cooperatives. During a press conference outlining the nation’s social outlook for the second quarter of 2023, Danucha Pichayanan revealed that household debt…
- Business News
Banking on change: Kasikornbank unveils shakeup with fresh faces and spin-off plans
Kasikornbank (KBank), Thailand’s second-largest lender by total assets, revealed a significant restructuring of its business operations. This includes the introduction of a new president, co-president, and a spin-off strategy. KBank notified the Stock Exchange of Thailand (SET) yesterday about the appointment of Chongrak Rattanapian to the position of president and executive director, effective from August 29. Chongrak, with over 20…
- Business News
Thai AirAsia targets 40% domestic market share by 2023, plans Japan expansion
Thai AirAsia, a leading low-cost airline, has set a goal to command 40% of the passenger market share domestically by the close of 2023. This comes as the airline intends to introduce two additional routes in Japan in the upcoming year. In a revealing disclosure, Santisuk Klongchaiya, the Chief Executive of Thai AirAsia, mentioned that the airline’s market share in…
- Business News
Phang Nga tourism council proposes new airport to surpass Phuket’s capacity
A proposal for a new airport in Phang Nga, which could potentially surpass Phuket as the south’s aviation hub, will be presented to the new prime minister by tourism operators in the Andaman provinces. The president of the Tourism Council of Phang Nga, Pongsakorn Ketprapakorn, shared that the new airport’s necessity stems from the rapid growth in tourist demand for…
- Economy News
Pheu Thai leadership welcomed by tourism operators
The Pheu Thai political party’s potential leadership of the Tourism and Sports Ministry has been warmly welcomed by tourism operators. This development arises from growing speculation around the formation of the new Cabinet. Numerous news outlets suggest that the ministry might transition from the Bhumjaithai Party to Pheu Thai. Adith Chairattananon, the honorary secretary-general of the Association of Thai Travel…
