baht
- Thailand News
Phatthalung police officer suspended for 30,000 baht extortion
A senior police officer in Phatthalung has been suspended following allegations of extorting money from a 38 year old mother, whose 16 year old son was charged with attempted murder. The officer has been ordered to take leave until the investigation is complete. The incident began when the mother filed a complaint after her son, along with others, was arrested…
- Business News
PDMO issues 20 billion baht in ESG bonds
The Public Debt Management Office (PDMO) is set to issue 20 billion baht in sustainable bonds to institutional investors this year. The public debt advisor for PDMO, Jindarat Viriyataveekul, stated that these bonds are designed for businesses adhering to environmental, social, and governance (ESG) principles. Sustainable bonds are a subset of ESG bonds, and PDMO currently has 467 billion baht…
- Business News
US equity funds attract record inflows amid Thai market decline
US equity funds have seen the largest inflows this year, spurred by the US economic recovery and expectations of interest rate cuts, while mutual fund investments in Thai stocks have dropped by nearly 10 billion baht, according to Morningstar Research (Thailand). Nearly 7.8 billion baht has been invested in US equity funds this year, marking a 5.04% increase from 2023,…
- Business News
Kerry Express delivers 2.8 billion new shares
Kerry Express (Thailand) Plc (KEX) announced a significant capital increase through the issuance of up to 2.8125 billion new ordinary shares, each with a par value of 0.50 baht. These shares will be offered to existing shareholders for 3.20 baht per share in a rights offering. SF Express Group, which holds a 62.7% stake in KEX, has confirmed its intention…
- Thailand News
Electric car’s shocking failure, repair costs over 1 million baht
A woman’s electric car battery failed after being parked in the rain for just 20 minutes, resulting in repair costs exceeding 1 million baht. The issue has now been resolved, with the insurance company agreeing to cover the costs and spare parts being dispatched to the service centre. The electric car owner, Suphinya, today shared her unfortunate experience. After leaving…
- Thailand News
Lightning strike destroys house causing 700,000 baht in damages
A single lightning strike ignited a fire that destroyed a house rented by a couple, causing over 700,000 baht in damages. The couple, both motorcycle enthusiasts, narrowly escaped the incident as they were out buying dinner. Rescue worker Sunan Chumchua from the Kusonsathan Trang Foundation inspected the damage at house number 33/5, Moo 2, Khlong Khlo Subdistrict, Mueang District, Trang…
- Thailand News
Engineer gifts bride 120 baht of gold matching her weight
A young engineer made headlines by presenting 120 baht of gold, equivalent to the bride’s weight, as a dowry. The event, attended by many notable figures, took place yesterday in Pathum Thani. Kriangkrai Kadsa, known as Joe, led a vibrant procession to ask for the hand of Kewalin Kitiwan, also called Annie. The bride’s family, originally from Kamphaeng Phet, had…
- Business News
Finance Ministry to reassess stock holdings worth 1.19 trillion baht
The Finance Ministry plans to reassess its shareholdings in various stocks to optimise its asset portfolio and generate additional revenue for the state. Deputy Finance Minister Paopoom Rojanasakul instructed the State Enterprise Policy Office to evaluate the ministry’s stock holdings. According to sources, this review aims to identify which assets the government should retain and which could be sold. A…
- Thailand News
Backlash over Stark scandal suspect’s hospital transfer
The Department of Corrections (DoC) faced heavy criticism yesterday for transferring a key suspect in the Stark Corporation scandal to the Police General Hospital (PGH), as victims of the financial misconduct accuse officials of granting him special treatment. Dozens of investors affected by the Stark Corporation fraud case petitioned Justice Minister Tawee Sodsong, seeking transparency after discovering that Vonnarat Tangkaravakoon,…
- Business News
Loan and behold: NPLs spike as economy recovery stumbles
The Bank of Thailand reported a rise in non-performing loans (NPLs) within the banking industry for the first quarter, attributing the increase to all types of loan products amidst an uneven economic recovery. NPLs in the banking sector reached 502 billion baht, equivalent to 2.74% of total outstanding loans in the first quarter, an increase from 2.66% in the previous quarter.…
- Thailand News
Gamecaster Fat Cat takes own life after spending 2.6 million baht
A famous 21 year old gamecaster, known as Fat Cat, tragically ended his life after spending over 2.6 million baht on his girlfriend, only to be betrayed. His sister revealed the heart-wrenching details, prompting widespread online criticism. The police have officially announced the results of their investigation into the suicide of the gamecaster known as Fat Cat. This announcement has…
- Thailand News
Nakhon Ratchasima temple event features 200,000 baht giveaway
A local temple in Nakhon Ratchasima province was the scene of high excitement as a contractor organised a lively merit-making event, giving away prizes including cash, fans, and refrigerators worth over 200,000 baht. The ceremony, which took place yesterday, May 12, in front of the Ton Temple’s main hall, drew thousands from the surrounding community, all eager to participate and…
- Business News
GIF expedites Covid-19 payouts amid financial strain
The General Insurance Fund (GIF) proposed an expedited payment option for Covid-19 policyholders, where they can avail of an immediate reduced payout rather than wait for a decade for the full claim. This could mean receiving 60 baht now instead of 100 baht in the future, according to Finance Permanent Secretary Lavaron Sangsnit. Governmental body GIF was formed to safeguard…
- Thailand News
Thai authorities seize over 1000 endangered tortoises
In the latest crackdown on the illegal wildlife trade, six individuals were apprehended in the southern province of Chumphon, Thailand, for possession and transportation of a significant number of endangered species. The suspects were found with over 1,000 radiated tortoises and dozens of lemurs in their possession, intended for sale in Hong Kong, South Korea, and Taiwan, according to the…
- Thailand News
Chon Buri eatery owner hires man overcharged for rice & eggs dish
A Chon Buri eatery owner offered a job to an unemployed man and his young son, who were the focus of a viral story involving an overpriced two-egg rice dish. The compassionate gesture won the hearts of netizens who came across the owner’s social media post searching for the struggling pair. Following a widely criticized incident where a jobless father…
- Thailand News
Thailand shuts down illegal Bitcoin mine worth 70 million baht
A major illegal Bitcoin mining operation was dismantled yesterday when police and the Provincial Electricity Authority raided an abandoned ice factory in Samut Sakhon, Thailand, seizing equipment worth over 70 million baht. A Myanmar national was found guarding the facility, which is believed to have caused the state a loss of 10 million baht per month in electricity. At 11am…
- Thailand News
Bangkok harnesses AI to tackle illegal sidewalk use
Bangkok authorities are ramping up the enforcement of sidewalk regulations, deploying artificial intelligence (AI) to detect and fine lawbreakers. The Deputy Permanent Secretary of the Bangkok Metropolitan Administration, Suphakrit Bunkhan, announced progress in the sidewalk management campaign, emphasizing the use of technology to improve the efficiency of law enforcement. From June 12, 2022, to April 1, 2024, a pilot programme…
- Business News
Bangkok’s residential market downturn with 22.5% annual decline
Greater Bangkok’s residential market saw a downturn in the final quarter of last year, with new units sold shrinking by 14.5% compared to the previous year. This contributed to an overall annual decline of 22.5%, as reported by the Real Estate Information Center (REIC). Vichai Viratkapan, the acting director-general of the centre, attributed this to a mismatch between supply and…
- Business News
Thai hotel industry resists proposed minimum wage hike
The tourism industry has voiced its concerns over the recent approval by the tripartite wage committee to increase the minimum wage to 400 baht for four-star hotels in 10 key tourism cities, beginning with the Songkran holiday. Hoteliers argue that the implementation of the wage hike is unjust as the recovery from the pandemic has been uneven across the targeted…
- Business News
Thailand’s border trade faces slowdown amid regional politics
The Federation of Thai Industries (FTI) predicts a slowdown in Thailand’s border trade for the current year due to political turmoil in Myanmar and economic issues in other neighbouring nations. Myanmar, Laos, Malaysia, and Cambodia, nations that share borders with Thailand, are facing obstacles to their economic growth, says Montri Mahaplerkpong, the FTI Vice-Chairman. Among the challenges, he highlights the…
- Thailand News
Actress Ava Six Scenes clears up 150 million baht credit card rumour
A video that has been creating a buzz on social media recently features Ava Pawornwan Verapuchong, a millionaire actress. The video shows Ava pulling a credit card from her wallet, causing viewers to focus on the card. It is a THE WISDOM (Visa Infinite) card from Kasikorn Thai Bank, which is exclusively for those with deposits and investments starting at…
- Business News
Bank of Thailand confident in limited corporate bond rollover risk despite rising interest rates
Despite rising interest rates, the Bank of Thailand has expressed confidence in the limited risk of corporate bond rollover this year, stating that it should not pose a significant threat to systemic risk. The local bond market has remained functional, with private businesses continuing to secure new funds. Sakkapop Panyanukul, the senior director for financial markets at the central bank,…
- Business News
Thai Cabinet ratifies 3.6 trillion baht budget for fiscal year 2025
The Thai Cabinet ratified a 3.6 trillion baht budget for the fiscal year 2025. This sees an expansion of the budget deficit to 713 billion baht, a 2.89% increase from the previous year. The new budget was approved by the Cabinet on Tuesday, following its presentation by the Budget Bureau. It was announced by the Deputy Government Spokesperson, Rudklao Suwankiri.…
- Business News
Chirathivat family’s CG Capital kickstarts with 10 billion baht
The Chirathivat family’s private equity fund, CG Capital Advisory, is kicking off its operations with an impressive 10 billion baht. The fund aims to capitalise on the recovering tourism sector by investing in hospitality and real estate. CG Capital, spearheaded by Phoom Chirathivat, partnered with prominent institutional investors to channel this fund into investments in hotels and tourism-related businesses. These…
- Thailand News
Democrat Party leader denies ties with billion-baht pork smuggling suspect
Democrat Party leader Chalermchai Sri-on yesterday refuted whispers of familial connections with the primary suspect in a billion-baht pork smuggling saga. Li Sheng Jiao, also known as Hia Kao (Brother Kao), is among four individuals sought by the Department of Special Investigation (DSI) on multiple charges including money laundering, customs act infringements and tax evasion. Earlier this week, arrest warrants were…
- Thailand News
Counterfeit caper in northeast Thailand: Scammer’s fake money fiasco sends a warning to the community
A cautionary tale has emerged from the local community in northeast Thailand involving a scammer using counterfeit money for purchases. The perpetrator paid with a fake 1,000 baht banknote and received 903 baht in change. Around 1pm yesterday, Police Lieutenant Colonel Chedchai Chaisaeng, an acting inquiry officer of Chai Wan Police Station in Udon Thani, was visited by local retailer Prapaphon,…
- Thailand News
Lucky lottery winner in Thailand banks 36 million baht
Thailand‘s Government Lottery Office (GLO) revealed that one lucky winner scooped a life-changing 36 million baht (over US$1 million) in the digital lottery draw today (May 2) after purchasing six winning digital tickets. Today, the number 834019 was drawn in Thailand’s twice-monthly government lottery draw. Anyone who bought a ticket with this number wins the lottery’s first prize of 6…
- Crime News
Body of loan shark found in Thailand river, 7 baht of gold jewellery missing
The body of a Thai woman missing for three days was recovered from a river in Chumphon province in southern Thailand yesterday. The gold jewellery she usually wears, worth 220,000 baht, was missing. The deceased – 32 year old Chadathip – ran a loan business and never returned from an appointment she made to chase money from a debtor on…
- Economy News
Thai baht soars to six-month high against US dollar
The Thai baht opened at 34.78 against the US dollar today, strengthening from yesterday’s close of 35 to a six-month high. The baht’s sudden rise is down to the Bank of Thailand’s (BOT) hiking the policy rate by a quarter point earlier this week. The BOT remains committed to a gradual monetary tightening policy, raising the policy rate from 1%…
- Economy News
Fate of Thai baht depends on return of Chinese tourists, economists say
The Thai baht has been flying recently but its upward trend could draw to a standstill unless Chinese tourists return to the Kingdom of Thailand, according to economists. In the past month, the baht appreciated almost 6% against the US dollar as reports indicated the US Federal Reserve (Fed) would slow down its aggressive interest rate hikes. Despite inflation, a reinvigorated…
