Business News
Stay abreast of the ever-changing Business News in Thailand through our comprehensive coverage of local and international business events, market trends, and economic updates. We provide reliable analysis, in-depth features, and expert insights on the most relevant business stories, including issues affecting Thailand’s stock market, foreign investment, and entrepreneurship. Track the business world’s pulse as we inform you of crucial developments shaping Thailand’s economic landscape.
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Sponsored Revamped Jungceylon Shopping Center unveils a refreshed look with new immersive concepts
Jungceylon, one of Phuket’s largest malls, is set to unveil its new look following an asset enhancement initiative (AEI) to reposition the mall as "The Oasis of Shopping in Patong" – a one-stop destination offering fresh and immersive concepts in...
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Goodbye Family Mart, hello Tops: Thailand’s retail favorite gets a fresh aisle
The well-known Family Mart stores, a cornerstone of the local retail landscape for over 30 years, are set to be rebranded as Tops Daily in the heart of Thailand. The decision made by the Central Retail Corporation PLC (CRC) projected completion by the end of this year will bring an end to an era as it follows a decision to…
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Alcohol tax overhaul by Excise Dept planned to close loopholes
The head of the Excise Department announced plans to overhaul the excise tax structure on alcohol and beer, aiming to eliminate existing tax loopholes. Ekniti Nitithanprapas said a formal conversation is ongoing with the private sector to secure an equitable and suitable tax framework. Furthermore, many new beverage entries on the market are technically slipping through the cracks of taxation,…
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Travel industry girds for weak low season amid cost and weather challenges
The travel industry is bracing itself for an exceptionally weak low season, with predictions of stagnant demand, escalating operational costs at popular destinations, and the impacts of tropical storms. The president of the Thai Travel Agents Association, Charoen Wangananont highlighted that the season’s sale rate for outbound packages significantly lags behind the comparison period recorded before the pandemic. He cited hesitancy…
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Central Retail partners with Ant Group to launch Alipay+ for Asian tourists in Thailand
For the convenience of Asian tourists from China, Hong Kong, Malaysia, and South Korea, Central Retail Corporation (CRC) has announced its partnership with Ant Group, introducing Alipay+ a comprehensive solution for international digital payments. This digital offering will enable travellers to use local digital wallets such as China’s Alipay, Hong Kong’s AlipayHK, Malaysia’s Touch ‘n Go eWallet and South Korea’s…
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Thai consumer confidence dips due to political instability and slow recovery
Reports today reveal that last month Thai consumer confidence dramatically dropped for the first time in 14 months. Evidence pointed towards the general unease of continuous political instability in the Kingdom of Thailand after the General Election took place in May, as well as a sluggishly recovering economy. The survey, helmed by the esteemed University of the Thai Chamber of…
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Construction permit withdrawal sparks caution in Thai property lending
The property developer community has been unsettled by the recent Ashton Asoke saga, wherein the construction permit was withdrawn, prompting lenders to proceed with caution when issuing debt instruments and loans to developers. AP Thailand’s chief executive, Anuphong Assavabhokhin, explained that it’s becoming increasingly challenging to secure loans as financial institutions grow wary of extending credit to real estate companies…
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Thailand’s data centre sector poised for explosive growth with global tech titans and cloud nine prospects
In a surge of digital enthusiasm, Thailand’s data centre industry is set to experience substantial expansion within the next two years, thanks to the arrival of worldwide tech giants and cloud service providers. This prediction comes from ST Telemedia Global Data Centres (Thailand) (STT GDC Thailand), a dominant player in hyper-scale data operations. STT GDC Thailand, a fruitful joint venture…
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Thai fruit and coconut exports to China boosted by FTA benefits
The popularity of Thai fruit was evident throughout the initial five months of this year, reflected through the leverage of free trade agreement (FTA) benefits by exporters. Most notably, shipments destined towards China signalled a greater propensity. The Director-General of the Foreign Trade Department, Ronnarong Phoolpipat, highlighted that durian, guava, mango and mangosteen were the favoured fruits amongst Chinese consumers,…
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Clear for takeoff: Thailand’s aviation adopts pay-to-fly models amid post-Covid revival
Thailand’s aviation industry is witnessing growth in pay-to-fly employment models after the struggle to regain its pre-Covid footing. In these arrangements, licensed pilots are required to pay more than 1.5 million baht (US$ 42,702) for training, a prerequisite to securing a job. This is happening against a backdrop of pilot salaries remaining below pre-pandemic levels due to a decrease in…
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Tipco Foods executives fined by SEC for insider trading violation
A statement from the Securities and Exchange Commission (SEC) confirmed the imposition of civil penalties on Tipco Foods Plc’s (TIPCO) chairwoman Laksana Supsakorn, and her colleague Sommart Dhupchinda. The two industry professionals were allegedly found guilty of jointly buying shares of a listed company using inside information. The SEC, which has used information provided by the Stock Exchange of Thailand…
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Burger King Thailand implements expansion and menu-diversification strategy
In a strategic response to the expected decline of Chinese tourists to Thailand, Burger King (Thailand) Co., is revising its market approach. It plans to expand its food range to introduce more non-burger products. This strategy aims to invite a broader customer base and boost revenues. As per the company’s general manager, Tanawat Damnernthong, Burger King has plans to establish…
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CP Foods launches Asia’s first carbon-neutral cage-free egg
To promote eco-friendly eating and animal welfare, Charoen Pokphand Foods Plc (CP Foods) launched a pioneering carbon-neutral cage-free egg in Asia, certified by the Thailand Greenhouse Gas Management Organization (TGO). The move bolsters CP Foods’ dedication to minimising environmental impact. Somkid Wannalukkhee, who leads CP Foods’ egg division, emphasised the company’s commitment towards crafting low-carbon food commodities. He says CP…
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Wiko resumes Thai operations targeting 2% market share with affordable phones
Aiming to carve out 2% of the Thai market by year-end and expand to 4% by next year, mobile manufacturer Wiko has resumed commercial operations. The company, with its French roots, intends to capture the lower to middle-tier smartphone segment. This comes after a six-month hiatus in its marketing efforts for the Thai market, and now the brand will move…
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Flavorful finances: Thailand’s July inflation stays mild
The Ministry of Commerce in Thailand revealed that July’s headline inflation saw less acceleration than anticipated, credited largely to a dip in food and energy costs. Meanwhile, forecasts by the agency anticipate the inflation rate’s upturn by less than 1% per month until the year concludes. July’s year-on-year headline inflation amounted to a 0.38% rise, measured via the consumer price…
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Smooth skies ahead: THAI-turkish partnership signals global travel upswing
A monumental leap forward for international air travel took flight yesterday when Thai Airways International (THAI) and Turkish Airlines secured a memorandum of understanding. The anticipated partnership will focus on the cut-throat competition prevalent on Asia-Europe routes. Commonly, airline collaborations entail synchronising schedules and revenue sharing. For instance, Qantas Airways and Emirates have a working partnership on Europe-Australia services. However,…
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MICE revenue in Thailand lowered amid sluggish Chinese market response
The meetings, incentives, conventions, and exhibitions (MICE) revenue forecast for the Thailand Convention and Exhibition Bureau (TCEB) has been lowered to 96 billion baht. This is less than half the recorded figures for 2019, mainly due to a sluggish response from the Chinese market. TCEB’s president, Chiruit Isarangkun Na Ayuthaya disclosed that despite the strong comeback of MICE travellers from…
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Arun Plus aims for profitability with Thailand’s growing EV demand
National oil and gas conglomerate, PTT Plc, is forecasting that its subsidiary company, Arun Plus Co, is likely to attain profitability in the next three to five years, fostered by higher demand from Thai drivers for electric vehicles (EVs). Arun Plus was founded three years prior when PTT ventured into the EV sector as part of its futuristic energy plan.…
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Former Sansiri president ensnared in tax-minimising controversy
A tax-minimising strategy, alleged by Chuvit Kamolvisit to involve Srettha Thavisin, the former President of Sansiri, a development firm listed on the SET, appears to be a common practice amongst landlords seeking to reduce tax liabilities on land sales. Property DNA’s Managing Director, Surachet Kongcheep, observed that it is typical for landowners to aim to lessen tax payments attached to…
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Bangkok freehold land in Lang Suan invites global investor bids
A prestigious piece of freehold land nestled in Bangkok‘s highly-prized region, Lang Suan, has notably emerged on the bidding block. Managed by Colliers Thailand, the real estate and professional services heavyweight, offers are being invited for a prominent development plot on the distinguished Lang Suan Road in Bangkok. Investors around the world have turned a keen eye towards this proposition,…
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Global rice trade shook by El Nino, politics, and embargo in Thailand
In the face of mounting global food security concerns, the impact of El Niño weather patterns and international political disruptions are causing serious upheavals in the farming landscape, particularly in major global rice-producing countries. Compounding the issue is Russia’s recent withdrawal from a vital agreement, which previously ensured the uninterrupted transport of Ukrainian grain goods through the Black Sea region.…
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Thai tourism stays firm amid debt rise, 200 million domestic trips targeted
Despite a backdrop of tepid consumption, the Tourism Authority of Thailand (TAT) remains steadfast in its pursuit of 200 million domestic tourism trips within the current year. Data from a survey conducted by the University of the Thai Chamber of Commerce paints a rather gloomy picture of increased household debt levels, up by 11.5% this year from last year. It…
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Thai industries call for new govt to revitalise flagging exports
The Federation of Thai Industries (FTI) declared the urgent need for Thailand to form a new government and establish fresh policies aimed at tackling lacklustre export performance. Data revealed a 7.4% decline to US$28 billion in the nation’s exports to its largest market, the Association of Southeast Asian Nations (ASEAN), during the period running from January to May. The FTI’s…
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Tisco ESU advises focus shift to debt instruments amid market instability
Amid global stock market turbulence, financial analysts at Tisco’s Economic Strategy Unit (Tisco ESU) are advocating that investors pivot their focus towards debt instruments for potential high-yield returns. The ongoing pressures from elevated bond yields, coupled with the weakening economies in the US and Europe, are some of the contributing factors exerting pressure on the financial markets. The ongoing macroeconomic…
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Tissue dreams ahead: Kuma Thailand to build dedicated factory in five years
Kuma (Thailand) Co, the parent firm of the Kuma tissue brand, is setting its sights on augmenting its production capabilities by developing a dedicated factory within the next five years. The goal of this ambitious project is to bolster the company’s capacity and pave the way for future product expansion in the consumer goods sphere. The director at the helm,…
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Tourism revival in Thailand risks airport slot overcrowding, suggests alternative options
In anticipation of the upcoming high season, Thailand’s Tourism Authority (TAT) expressed concerns over the slot capacity at international airports. As more flights are set to resume, it is predicted that the country will receive around 8 million tourists this year, primarily derived from long-haul markets anticipating a significant tourism revival. The deputy governor for Europe, Africa, the Middle East,…
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Ashton Asoke condo’s fate lies in legal interpretation
The fate of the troubled Ashton Asoke condominium hinges on the interpretation of three pertinent sections of the prevailing law, as explained by the Bangkok Metropolitan Administration (BMA). In a clarification of the circumstances surrounding the Ashton Asoke condominium dilemma, the Deputy Governor of Bangkok, Wisanu Subsompon highlighted the relevance of Sections 40, 41, and 42 of the Buildings Control…
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Cathay Pacific highlights Bangkok’s crucial role in aviation recovery
Southeast Asia, particularly Bangkok, is showing promising signs of growth in terms of flight traffic, according to Cathay Pacific, which has ranked the Thai capital as one of its stronger-performing flight routes. Post-Hong Kong’s reopening, Cathay has reported a steady ascent, keeping pace with global passenger traffic. One of the airline’s senior executives, Dominic Perret, highlighted Thailand as a key…
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Thai automotive industry under threat amid political uncertainty and loan concerns
The Thai automotive industry is under threat due to a potential delay in forming a new government, following a marked decline in domestic car sales in the first half of this year. As noted by Toyota Motor Thailand, the ongoing political uncertainty is likely to postpone car purchases from potential customers both domestically and in the business sector. Individuals and…
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Restaurant owner confronts negative reviewer at their home
Following an online uproar when a restaurant owner confronted a customer who had left a negative review, the owner herself sought to clarify events. She states she did not intend to cause distress but rather to understand the customer’s complaints. The owner identified only as Tum elaborated on what happened regarding the negative review. The customer accused the unnamed Thai…
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Twinkling triumph: Mitsubishi Triton shines in bold bid to rock the truck market
Bangkok last week played host to the unveiling of Mitsubishi’s revamped Triton pickup truck at its global premiere. The twinkle in Mitsubishi’s marketing plan, the Triton carries a striking aesthetic and innovative features that indicate a bold bid to stir things up within the truck market. Constructed in Thailand, the Mitsubishi Triton is slated for export to over a hundred…
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