Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
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Stark Corporation scandal costs 14.7 billion baht
Shareholders and stock investors of Stark Corporation are reeling from an accounting and embezzlement scandal that has incurred damages estimated at a staggering 14.7 billion baht. This debacle has impacted 4,704 shareholders and led to the prosecution of the former chairman and several top executives in what is deemed one of Thailand’s largest corporate frauds in recent years. Adding to…
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Charged up: GAC Aion plugs into Thailand’s booming EV market
GAC Aion New Energy Automobile, an electric vehicle (EV) manufacturer under Guangzhou Automobile Corporation (GAC), anticipates substantial benefits from the ongoing expansion of Thailand’s EV market. This comes after the recent inauguration of a 2.3-billion-baht EV assembly plant in Rayong. The company aims to produce up to 70,000 EVs annually for both domestic sales and export, according to Ma Haiyang,…
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Thailand faces investment challenge post-1997 financial crisis
Thailand faces investment challenges post-1997 financial crisis despite natural gas discovered in the Gulf of Thailand around 40 years ago sparked nationwide excitement, marking the beginning of a golden era. This period saw the launch of the Eastern Seaboard Development Project aimed at developing the eastern coastal region. Foreign investment surged, propelling the economy to expand at double-digit rates, and…
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Ana maintains pre-pandemic load on Thailand-Japan flights
Japanese carrier ANA has successfully maintained the load factor on Thailand-Japan routes at the same robust level as in 2019, despite the challenges posed by a weak yen. Notably, the majority of its passengers are now Thai tourists and long-haul travellers transiting through Japan. Thailand has emerged as one of ANA’s strongest routes in Asia-Pacific and Southeast Asia post-pandemic, alongside…
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Tenzing Pacific Services predicts market’s ‘positive momentum’ to continue
Tenzing Pacific Services is anticipating positive stock market momentum to carry through to the end of 2024 despite volatility and share performance dispersion. Tenzing Pacific Services, a health, life, and business insurance and investment company, saw June as a mixed bag when it came to growth. This is in large part due to the market’s performance not necessarily correlating with…
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Virgin Active celebrates 10 years of operation in Thailand
Virgin Active Thailand is celebrating 10 years of operations and is looking to continue boosting the health and wellness of the country. Part of the Virgin Group global portfolio, Virgin Active currently has 8 clubs in Thailand, which deliver nearly 60,000 exercise classes yearly. Country Director for Virgin Active in Southeast Asia, Julien Bera, sees the 10th anniversary as a…
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Bangchak cuts high-premium fuel prices by 5 baht per litre
Bangchak Corporation announced a significant price reduction on its high-premium fuel types, offering a discount of 5 baht per litre nationwide from today to tomorrow, July 20. This promotion includes both Bangchak Hi Premium 97 and Bangchak Hi Premium Diesel S, with no minimum purchase required. Bangchak Corporation, a leading company in the fuel industry, is running its major annual…
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Thailand restaurant market to hit 400 billion baht in 2024
Central Restaurants Group (CRG) anticipates a 5% sales growth in 2024, driven by the digital wallet handout scheme, while Thailand’s restaurant market value is projected to reach 400 billion baht this year. Nath Vongphanich, CRG President, addressed the ruling Pheu Thai Party’s upcoming 10,000-baht digital wallet handout scheme, expected to launch in the fourth quarter. He mentioned that the company…
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King’s College student researchers discuss brain health
King’s College International School students have collaborated with Bangkok Hospital to deliver a Health Awareness Talk about neurology and brain health. BioMedINN, a student-directed research group at King’s College, organised the session in an effort to inform the public about the importance of neurological health and wellbeing. This event followed on from their recent creation of a stroke testing kit,…
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Thailand considers petroleum reserve amid oil price volatility
Thailand is considering various strategies to mitigate the impact of global crude oil price fluctuations, beyond merely subsidising domestic oil prices through the dwindling Oil Fuel Fund. One proposed solution is the development of a strategic petroleum reserve (SPR) to enhance national oil security and safeguard against potential supply disruptions caused by geopolitical conflicts. Energy Minister Pirapan Salirathavibhaga suggested the…
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Transport Ministry execs visit Phuket to boost economic development
Senior executives from the Ministry of Transport gathered at Phuket Provincial Hall yesterday, engaging in a two-day study tour aimed at boosting economic development in the region through transportation initiatives. This initiative, part of a broader training programme organised by the Ministry of Transport, targets government officials and employees from state enterprises. Running from May 27 to August 16, the…
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Thailand to boost 2024 budget by 122 billion baht for economic lift
Prime Minister Srettha Thavisin emphasised the necessity of increasing the 2024 fiscal budget by 122 billion baht to stimulate Thailand’s economy. He proposed a supplementary budget bill to the House, aiming to finance the digital wallet scheme, a core policy of the Pheu Thai Party. Opposition parties opposed the bill, citing legal concerns and potential violations of the State Fiscal…
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Thai Finance Ministry pledges market confidence amid scandal
Thailand’s Finance Ministry vows to restore confidence in the Thai capital market following allegations of fraud involving former executives of Energy Absolute (EA), a company listed on the Stock Exchange of Thailand (SET). Finance Permanent Secretary Lavaron Sangsnit expressed optimism that actions by the Securities and Exchange Commission (SEC), in collaboration with the Department of Special Investigation (DSI) and the…
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Thai tourism must shift to supply-driven strategy for 2025, says TAT
The Thai tourism industry must adopt a supply-driven strategy to enhance its competitiveness, according to the former governor of the Tourism Authority of Thailand (TAT). The TAT outlined its marketing direction for 2025, aiming to increase revenue by 7.5% from 2024, targeting 39 million foreign arrivals and 205 million domestic trips. This figure is a revision from the 220 million…
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Thailand expects 42 billion boost from French tourists post-Olympics
The Paris Olympic Games are projected to draw fewer visitors than initially expected, prompting the Tourism Authority of Thailand (TAT) to anticipate a resurgence in the French market post-event. The TAT forecasts 42 billion baht in revenue from French tourists in 2024. Soraya Homchuen, TAT Director in Paris, indicated that the French market is experiencing a lull due to two…
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Thailand launches retirement lottery to boost savings for low-income earners
The Cabinet has introduced a new savings initiative for low-income individuals titled the retirement lottery, which offers enticing prizes to encourage saving. Deputy Finance Minister Paopoom Rojanasakul announced the Cabinet’s approval of this measure, aimed at bolstering savings under the National Savings Fund (NSF) through the Retirement Savings Lottery project. The NSF will amend relevant sections of its Act to…
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Phyathai Hospital celebrates app success with healthcare promotions and benefits
Phyathai Hospital has announced healthcare promotions to celebrate 500,000 people downloading their Health Up mobile application. Until September 30, patients at Phyathai-Paolo Group hospitals can access a 2-for-1 deal on specialised medical assessments and evaluations. Individually, these services cost 5,500 THB, but users who provide proof of registering with the app can book one additional Health Up Celebration package for…
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Thailand tackles household debt crisis, slow economic recovery
The Economic Cabinet directed the Finance Ministry and the Bank of Thailand (BoT) to quickly address household debt issues, focusing on bad debts in housing, cars, motorcycles, credit cards, and student loans, amid an economy still showing sluggish recovery signs. Finance Minister Pichai Chunhavajira, after the economic ministers’ meeting chaired by Prime Minister Srettha Thavisin, stated that the premier instructed…
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Thai AirAsia seeks govt aid amid demand slump and tax cuts
Thai AirAsia, experiencing a downturn in demand during the second and third quarters of 2023, now seeks government intervention to boost the stagnant local purchasing power. Chief Executive Santisuk Klongchaiya noted that the seasonal nature of tourism has resumed, with the average load factor for the domestic market in the second quarter decreasing to 90% from 94% year-on-year. Despite the…
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US offers lower interest rates on F-16s jets to sway Thailand
The United States proposed lowering the interest rates for the Royal Thai Air Force (RTAF) to purchase F-16 fighter jets in a bid to persuade the Thai government to choose American-made aircraft over Sweden’s Gripen jets. According to a Defence Ministry source, this offer follows the RTAF’s recent announcement that it is considering the Gripen jets, following a procurement committee…
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Thai factory closures, a victim of Chinese imports surge
Chinese electric vehicle (EV) manufacturer BYD recently opened its inaugural Southeast Asian factory in Thailand, garnering considerable attention and praise for the country’s industrial foresight. However, this development also adversely affected long-established Japanese automakers, leading to a ripple effect across numerous Thai factories. A crucial development went relatively unnoticed as Suzuki Motor announced the closure of its Thai factory, with…
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Thailand disburses 3.48 trillion baht budget to boost economy
An injection of 3.48 trillion baht from the 2024 fiscal budget has finally been disbursed in the second quarter of this year, following delays that began on October 1 last year due to political setbacks after the General Election in May 2023. With economic growth stagnating, public expenditure is seen as a crucial factor to revive subdued private spending and…
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Thailand energy, finance, tourism to boost revenue in fiscal 2024
Energy businesses, financial institutions, and tourism are expected to be the primary revenue contributors for the Revenue Department this year, according to its chief. These sectors have shown strong performance and are anticipated to generate significant tax revenues during the first nine months of fiscal 2024 (October 2023 to June 2024). Revenue Department Director-General Kulaya Tantitemit highlighted that while these…
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Thai woman’s 307,000 baht debt sparks social media advice
A woman’s struggle with debt totalling 307,000 baht recently gained significant attention on social media. Earning 22,000 baht per month, she allocates 6,000 baht for rent and 3,000 baht for motorcycle loan payments. The debt, arising from six unsecured loans including credit cards and personal loans, spans multiple financial institutions. Details on monthly instalments, interest rates, or the status of…
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Centara ranked as Thailand’s strongest brand two years in a row
Centara Group has been recognised as “Thailand’s Strongest Brand” for the second year in a row by the Brand Finance Thailand 50 report. This achievement follows a series of domestic and global success as Centara continues to expand their hotel and resort locations. The Thailand 50 report Brand Finance is an international brand evaluation and consultancy agency which independently assesses…
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Thai auto parts makers pivot to medical devices amid EV shift
The Federation of Thai Industries (FTI) plans to present a proposal to the government this month aimed at bolstering the local medical device business. This initiative seeks to assist auto parts manufacturers in diversifying their operations amid the vehicle industry’s transition to electric vehicle (EV) technology. The shift in the industry provides an opportunity for auto parts makers, particularly those…
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Pink Line monorail to boost traffic to Mueang Thong Thani
Bangkok Land, a publicly traded company, anticipates that the Pink Line monorail will boost traffic and increase the occupancy rate of its exhibitions to 70% within five years. Chief Executive of Bangkok Land and operator of Impact Exhibition Management, Paul Kanjanapas reported that in the first half of the year, the company’s food, retail, and exhibition sectors met their growth…
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Chinese foreign minister calls for ASEAN regional cooperation
During a meeting between the Thai and Chinese foreign ministers to discuss the consultation mechanisms between the two nations, Chinese Foreign Minister Wang Yi emphasised the importance of upholding the ASEAN-centered East Asian regional cooperation framework and rejecting exclusive small circles. Wang and Thai Foreign Minister Maris Sangiampongsa co-chaired the second meeting between the foreign ministers. This two-day visit marked…
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Minor International celebrates sustainable business achievements
Minor International (MINT) is celebrating the efforts of businesses who have committed to sustainable growth and operating ethically. MINT, a Thai multinational company, specialises in hospitality, restaurant and lifestyle businesses located across 63 countries. Serving customers from the Asia-Pacific all the way to the America’s, MINT’s business portfolio consists of thousands of providers of food, hotels and tourism experiences. Seeing…
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Vietnam Airlines surges 179%, top-performing airline stock in 2024
Vietnam Airlines made a remarkable return to profit, emerging as the world’s best-performing airline stock this year. The state-owned carrier soared to 179% in 2024, buoyed by a resurgence in travel demand. This surge in performance has allowed the airline to post a significant first-quarter profit, breaking a streak of over four years of consecutive losses. This turnaround is particularly…
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