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 12Go introduces Japan Rail Passes to enhance travel accessibility for international travellers
For those who have travelled throughout Thailand, 12Go is a well-known provider of various trips, though the platform itself has a much wider reach. Ranging from buses to planes, 12Go is undoubtedly a leading booking platform for travel throughout the...
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The Mall Group plans to extend opening hours to promote Thailand tourism
Thailand Mall Group Co-chairwoman Supaluck Umpujh proposed a novel strategy to invigorate the nation’s economy by attracting a greater influx of foreign tourists. She insists that the government’s ongoing efforts to enhance the tourism sector are moving in the right direction but advocates for the introduction of special incentives to stimulate investments in artificial tourist attractions across the nation. Supaluck also…
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Asia-Pacific executives struggle with regenerative business shift: Kearney report
A recent survey by global consultancy Kearney reveals that nearly half of Asia-Pacific-based executives feel their current business transformations are not proving effective. The study, which included 800 C-suite leaders from around the world, shows that while businesses have evolved from focusing on resilience during the Covid-19 pandemic towards a regenerative approach, only 51% are successfully implementing this strategy. The…
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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…
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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…
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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…
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Thailand’s export hopes bloom in Q4, aiming to paint a brighter 2023 picture
The Ministry of Commerce in Thailand anticipates an uptick in the country’s exports for the last quarter of the year, potentially mitigating the projected contraction for 2023. This encouraging forecast is attributed to several factors, including a partnership between the government and private sector to boost export activities and address associated challenges, drought-induced spikes in agricultural and food product imports,…
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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…
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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…
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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…
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Stock market fraud: SEC intensifies efforts to restore investor trust
The Securities and Exchange Commission (SEC) is set to fortify its efforts in battling stock market fraud and intensifying its monitoring of publicly traded firms, in a bid to re-establish investor trust. The Commission acknowledged the proliferation of fraud incidents has led to a considerable erosion of confidence among stock investors. Regular offences include insider trading and stock price manipulation.…
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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…
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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…
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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…
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Thailand seeks free trade agreement with Gulf nations to boost investment
Thailand’s government spokesperson, Chai Wacharonke, declared the country’s intention to establish a free trade agreement with the Gulf Cooperation Council (GCC) member nations, aiming to enhance trade and investment relations. Prime Minister Srettha Thavisin recently concluded his visit to Saudi Arabia, where he participated in the ASEAN-GCC Riyadh Summit at the Ritz-Carlton. During the visit, the 61 year old prime…
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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…
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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…
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Thailand’s future so bright, it’s gotta rock Ray-Bans
The future’s looking so bright for Thailand that it’s gotta wear shades, and not just any old shades, preferably Ray–Ban sunglasses. Fortunately, for residents in the Land of Smiles, EssilorLuxottica, the renowned creator of Ray-Ban sunglasses, has recently inaugurated a state-of-the-art factory in eastern Thailand, poised to serve as a prominent production centre for the Asia-Pacific region. Located in Rayong…
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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…
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Thailand NBTC advances regulatory structure for OTT platforms
Thailand’s National Broadcasting and Telecommunications Commission (NBTC) is swiftly developing a regulatory structure for over-the-top (OTT) platforms, focusing primarily on video-on-demand and video-sharing services. This manoeuvre is a further step by the government to supervise domestic and international OTT operators, necessitating that business details be submitted to the regulator to aid in shaping the future of the OTT industry. OTT…
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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…
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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…
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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…
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NIA Reform: Thailand supports startups and SMEs market entry
The National Innovation Agency (NIA) reformed its financial assistance measures, shifting focus towards aiding startups and small and medium-sized enterprises (SMEs) in getting their products to market, rather than simply supporting the development of prototypes. This year, the state agency has allocated 300 million baht to support these businesses, to generate a 3 billion baht economic and social impact, which…
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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…
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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…
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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…
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Bangchak finalises Esso Thailand acquisition
The energy conglomerate Bangchak Corporation, listed on the Stock Exchange of Thailand (SET), finalised its acquisition of Esso Thailand shares via a tender offer. The deal, valued at 3.54 billion baht, has resulted in Bangchak owning 76.3% of Esso Thailand. Previously, Bangchak secured a 65.99% stake in Esso Thailand, the entity managing Esso petrol stations, from Esso Asia Holdings Pte…
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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…
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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…
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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…
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