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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Sponsored Top 10 reasons for expats to get a comprehensive health insurance in Thailand
Moving to Thailand offers a prospect full of excitement and adventure, but in the same vein, if any injuries were to occur (and god forbid it does), the local healthcare system can be confusing at first glance for many expats...
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CPN predicts 20% retail sales surge due to Chinese New Year and tax scheme
Central Pattana (CPN), a SET-listed firm, is forecasting a 20% surge in retail sales for the first quarter, attributing the anticipated boost to the Chinese New Year festival and the Thai government’s Easy E-Receipt scheme. The company predicts a cash flow of 15 billion baht across all Central shopping mall branches. Nattakit Tangpoonsinthana, the chief marketing officer of CPN, expressed…
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JSCCIB urges BoT to cut high interest rates amid economic threats
As the economy grapples with internal and external threats, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) called on the Bank of Thailand (BoT) to reduce interest rates. The high interest rates are causing a surge in borrowing costs, amidst a volatile recovery due to the global economic downturn. These views were expressed by Sanan Angubolkul, chairman of…
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Gold price takes a dip in Thailand, down 50 baht from previous close
The Gold Traders Association (GTA) today revealed a further drop in today’s gold price when compared to the final price of yesterday. Today, a baht of gold ornament is selling for 34,150 baht, a 50 baht reduction from the closing price of yesterday. As per the GTA website, gold bars can be sold for 33,650 baht per baht and purchased…
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Innobic divests Alvogen Malta shares, refocuses on Asia-Pacific pharmaceutical market
In a strategic move to refocus its pharmaceutical sector, Innobic (Asia) Co, the life sciences division of the PTT Plc national oil and gas conglomerate, has entirely divested its shares in Alvogen Malta (Out-licensing) Holding (AMOLH). The shares were acquired by Floki Holding Société à Responsibilité Limitée, a healthcare and pharmaceutical firm based in Luxembourg. The transaction is expected to…
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EGCO finalises Compass Portfolio acquisition, boosting US power capacity
Electricity Generating (EGCO), the power generation subsidiary of Thailand’s Electricity Generating Authority, has finalised the purchase of the Compass Portfolio in the US, a move that boosts the company’s overseas earnings from the energy sector. The acquisition bolsters EGCO’s total power generation capacity to 652 megawatts, a figure determined by its stake in the Compass Portfolio. Thepparat Theppitak, EGCO President,…
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Thai bond market set for 890 billion baht redemption this year
This year, bonds worth an estimated 890 billion baht (US$25,406,794,400), primarily investment-grade, are slated for redemption, according to the Thai Bond Market Association (ThaiBMA). Around 73 billion baht (US$ 2,083,928,080) of these are set to mature within this month. The association’s president, Somjin Sornpaisarn, anticipates Thai private enterprises to float long-term bonds of approximately 1 trillion baht (US$ 28,546,960,000) throughout…
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Caution advised over interest rate cuts by Bank of Thailand
Pundits cautioned against hasty moves to cut interest rates and have emphasised the importance of an independent Bank of Thailand as it determines its policy interest rates. They warned that inconsistent fiscal and monetary policies could harm more than they help. Therdsak Thaveeteeratham, Asia Plus Securities (ASPS) executive vice president, insisted that decisions regarding interest rates should be the sole…
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Finance ministry’s vigilant watch over corporate debenture repayments
Corporate debenture repayments are under the watchful eyes of the Finance Ministry, according to a statement by Lavaron Sangsnit, its permanent secretary. The ministry, along with the Bank of Thailand (BoT) and the Securities and Exchange Commission (SEC), are vigilantly monitoring potential defaults on maturing debentures. In a recent evaluation, it emerged that only a single company was struggling to…
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IMF predicts six top global economies in 2024 to be from Sub-Saharan Africa
Six of the top-performing global economies in 2024 will be from Sub-Saharan Africa, predicts the International Monetary Fund (IMF). Despite the limited scale of these economies, they’re contributing positively to a region plagued by poverty and inequality. The economic growth of this region is set to rise from 3.3% in 2023 to 4% in 2024, with standout performances from Ivory…
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Thailand’s exports predicted to see slight rise in 2024
The Thai National Shippers’ Council anticipates a slight upturn in Thailand’s exports, predicting an increase of 1%-2% for 2024, as per today’s disclosure. This estimate aligns with a prior forecast, underscoring the critical role exports play in the economic health of Southeast Asia’s second-largest economy. However, the current global demand climate has resulted in sluggish trade in recent times. Chaichan…
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Thailand’s oil refineries ready to market eco-friendly Euro5 diesel
Thailand’s oil refineries are gearing up to market their new eco-friendly diesel that complies with the Euro5 environmental emission standard. This standard was put into effect on the first day of the year, according to the Federation of Thai Industries (FTI). The Euro5 standard, set to replace Euro4, will apply to B7 and B20 bio-diesel, which contain 7% and 20%…
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Electric vehicle market faces risk from non-performing loans
The rising popularity of electric vehicles (EVs) is facing a new challenge as concerns over non-performing loans (NPLs) seep into the EV market. The rapid surge in EV sales has led to worries about whether buyers, many of whom are considered new-generation people with weaker financial standing, will be able to meet their instalments. This could lead to an increase…
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Krungsri Capital advises investment in 11 high-dividend Thai stocks
Investors have been advised by Krungsri Capital Securities (KCS) to consider purchasing shares from 11 high-dividend (HD) stocks, which are projected to yield over 2% annually. This move is expected to result in increased capital gains from their investments in the initial two months of each year. These HD stocks have historically outperformed the broader Stock Exchange of Thailand (SET)…
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E-receipt scheme boosts Thai smartphone and computer sales in January
Sales of smartphones and computer products have soared by 30-60% in the first week of January, a trend that IT product vendors attribute to the government’s e-receipt programme. This programme, approved by the Cabinet, provides tax rebates of up to 50,000 baht (US$1,435) for individuals not qualifying for the digital handout and is slated to run from January 1 to…
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US set for decisive week on Bitcoin ETFs
The final phase of a multi-year endeavour to introduce Bitcoin-backed exchange-traded funds (ETFs) in the United States is set to climax this week, faced with a series of crucial deadlines. Bloomberg News reports that all aspiring Bitcoin ETF issuers have until today, January 8, in Washington to present any late amendments to their pending applications. Moreover, the US Securities and…
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GSB plans debt moratorium for 630,000 debtors amid Covid-19 pandemic
The Government Savings Bank (GSB) is setting up a plan to provide a debt moratorium for 630,000 debtors, totalling 6.3 billion baht. This plan is in response to the economic hardship experienced by individuals and businesses due to the Covid-19 pandemic, according to an anonymous source. During the pandemic, between 2020 and 2021, GSB, a state-owned entity, issued loans totalling…
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High travel costs and weak flight capacity challenge Thailand’s domestic tourism targets
The Tourism Authority of Thailand (TAT) revealed that the government’s target of accruing 1.08 trillion baht (US$30.9 trillion) in revenue from domestic tourism this year may be challenging to achieve due to high travel costs and weak flight capacity. The target set by the TAT for the domestic market is 200 million trips this year, matching the 2019 levels. However,…
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National Telecom to develop cloud managed platform amid rising demand
The Digital Economy and Society Ministry has commissioned National Telecom (NT), the state telecom enterprise, to create a Cloud Managed Platform (CMP). This development comes in response to the substantial demand among state agencies for a central portal to access services from any cloud provider. Ministry’s Deputy Permanent Secretary Nattapon Nattasomboon announced that NT received an allocation of 600 million…
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Thailand’s Central Retail eyes potential investment in Selfridges
Central Retail Corp., a leading retailer in Thailand, indicated potential interest in investing in Selfridges, the renowned department store, given the right circumstances. The company outlined their investment criteria in a recent statement to the Thai stock exchange, stating that any new venture must align with its strategic business plan, be reasonably priced, and have optimal timing. The company made…
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Thailand’s headline CPI sees unanticipated drop in December
Thailand’s Commerce Ministry announced today that the country’s headline consumer price index (CPI) experienced a 0.83% decrease in December compared to the same period a year earlier. This figure is a steeper drop than the 0.44% year-on-year decrease seen in the preceding month. Contrasting with the anticipated 0.30% fall for December as per a Reuters poll, the actual result was…
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Thailand-China visa-free deal to boost Chinese tourist influx by 57%
The visa-free arrangement between Thailand and China, effective from March 1, is predicted to cause a 57% surge in Chinese visitors this year, boosting the total foreign arrivals to 33 million. Analysts suggest this development offers an opportunity for investors to gradually accumulate travel stocks. Thai Prime Minister Srettha Thavisin announced the reciprocal visa-free scheme on Tuesday, January 2, following…
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National Telecom targets smart meter project amid anticipated revenue loss
National Telecom (NT) is seeking to broaden its business horizons as it anticipates a revenue loss of 4 billion baht next year due to the termination of some contracts with private mobile phone operators. The state-owned enterprise is positioning itself to join the smart meter project run by the Metropolitan Electricity Authority (MEA) and Provincial Electricity Authority (PEA), by offering…
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Commerce Ministry’s plan to catapult SMEs to 40% GDP by 2027
The Commerce Ministry unleashed an ambitious plan to elevate small and medium-sized enterprises (SMEs) to new heights, targeting a staggering 40% contribution to the GDP by 2027. A comprehensive strategy is set to turbocharge consumption, investment, government spending, and international trade, propelling SMEs into the forefront of economic prowess. Acknowledging the pivotal role SMEs play in Thailand’s economic fabric, Commerce…
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Bolt boosts safety in Thailand with new app features
European mobility company Bolt strengthened its safety protocols in Thailand by introducing new measures designed to support both drivers and riders. A new feature, driver selfie verification, has been added to the ride-hailing application to minimise instances of driver impersonation and bolster safety for all users. In addition, Bolt launched an innovative trip safety monitoring feature. This facility allows the company…
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Gold price dips to 33,900 baht per baht, says GTA
The Gold Traders Association (GTA) decreased the gold price consecutively today compared to the closing price yesterday. The bullion price shifted to 33,900 baht (US$981) per baht today. Reporters stated that the GTA announced a 100 baht (US$2.89) decrease in today’s gold price compared to yesterday’s closing price, with the bullion price now standing at 33,900 baht (US$981) per baht,…
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Thai e-commerce faces shake-up due to new revenue department mandate
Thailand’s e-commerce industry is set for a shake-up following a recent decision by the Revenue Department to mandate digital platforms to report income earned from their online sellers. Analysts predict that this may result in a 10% reduction in the number of online shops on platforms, as some merchants may resist revealing their true earnings. The move is aimed at…
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Potential lithium reserves discovered in Phang Nga for EV industry
The Department of Primary Industries and Mines has identified potential lithium reserves in Phang Nga’s Takua Thung district, which could be instrumental in catering to the growing demands of the electric vehicle (EV) industry. Initial surveys indicate the presence of the element in the Ruangkiet area, where pegmatite, a rock from which lepidolite is derived, was discovered. Lepidolite is a…
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Thailand’s fruit exports projected to increase by 4% in 2024
Expectation for a 4% increase in the volume of fresh and processed fruit exports this year has been projected by the Commerce Ministry, driven by a strong demand. Commerce Minister Phumtham Wechayachai, after a meeting with ministry officials and fruit-related representatives, expressed optimism about fruit exports. The ministry predicts a 4% increase in both volume and value of fresh and…
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Thai baht predicted to appreciate amid expected US interest rate cuts
The Thai baht is predicted to appreciate to 33 against the US dollar in the near future, as the market anticipates an early start to US Federal Reserve interest rate cuts, possibly as soon as March. This expectation could trigger an inflow of funds into the Thai currency. The baht registered at 34.26 to 34.28 per US dollar yesterday, a…
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Gunkul Engineering targets 25 billion baht to fund renewable energy projects
Gunkul Engineering Plc, a leading renewables developer and construction company, announced intentions to generate 20.8-25 billion baht (US$607 million-730 million) through fundraising. The raised funds are earmarked for the development of 17 renewable energy initiatives, as part of the government’s 5.2-gigawatt renewable scheme. The company’s chief financial officer, Thitipong Techaratanayuenyong, disclosed the plans. In the previous year, Gunkul Engineering participated…
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