Monthly Archives: December 2020

Gold rush in Thailand’s ‘fruit basket’ as farmers switch to durian #SootinClaimon.Com

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Gold rush in Thailand’s ‘fruit basket’ as farmers switch to durian (nationthailand.com)

Gold rush in Thailand’s ‘fruit basket’ as farmers switch to durian

NationalDec 04. 2020

By THE NATION

A survey of farmers in Thailand’s eastern fruit-growing areas shows that many plan on switching to durian next year, as prices for the crop surge thanks to domestic and overseas demand.In 2021, Chanthaburi, Rayong and Trat will produce an estimated 1.6 million tonnes of four major fruit crops ¬– durian, mangosteen, rambutan and langsat – according to the Regional Office of Agricultural Economics 6 survey. The 2021 harvest is expected to be 7.11 per cent larger than this year.The biggest increase in volume will be durian (11.42 per cent), followed by mangosteen (4.05 per cent) and langsat (0.52 per cent). The rambutan harvest is forecast to fall by 0.34 per cent next year.The office explained that the price of durian has been relatively high for the past six or seven years, making the fruit popular among local growers. Thai durian has been a big hit with Chinese consumers in recent years, driving up its value.Meanwhile, the price of rambutan has dropped and the cost of harvesting the fruit is relatively high. Some growers have decided to uproot their rambutan trees and switch to other crops.The four fruits are mainly harvested in May and June.

Gold Line monorail to open Dec 16 at Bt15 per trip #SootinClaimon.Com

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Gold Line monorail to open Dec 16 at Bt15 per trip (nationthailand.com)

Gold Line monorail to open Dec 16 at Bt15 per trip

NationalDec 04. 2020

By The Nation

Bangkok’s 1.8-kilometre Gold Line monorail on the Thonburi side of the river will open on December 16, according to contractors AMR Asia.

The Gold Line links up with the Skytrain Green Line after BTS Saphan Taksin station and is designed to make travel between central Bangkok and Thonburi quicker and more convenient.

Trains are now being tested on the three-station route, which runs from Krung Thon Buri Skytrain station to Khlong San District Office station.

The third station, Charoen Nakhon, will feed the vast Iconsiam shopping mall on the west bank of the Chao Phraya River.

BTS Saphan Taksin has also been upgraded with two platforms and a double track to accommodate passengers linking up with the Gold Line at BTS Krung Thon Buri station.

The second phase of the Bt3-billion project will extend the track 0.88km to Prajadhipok Station.

Driverless trains will operate on the route, which will link up with three other electric train systems – the Silom Line (Green Line) at BTS Krung Thon Buri, the MRT Purple Line at Prachathip Station and the MRT Red Line at Khlong San Station.

The Gold Line will use three Bombardier Innovia APM 300 trains of two carriages each, with capacity of up to 12,000 passengers per hour in each direction. The fare has been set at Bt15.

BTSC justifies its decision to make maximum fare on Green Line most expensive #SootinClaimon.Com

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BTSC justifies its decision to make maximum fare on Green Line most expensive (nationthailand.com)

BTSC justifies its decision to make maximum fare on Green Line most expensive

NationalDec 04. 2020

By The Nation

The Bangkok Mass Transit System (BTSC) insists that the Bt65 maximum fare on the BTS Green Line is reasonable, while the Transport Ministry is ready to explain the fare calculation at a meeting with the prime minister and Interior Ministry.

Surapong Laoha-Unya, BTSC chief operating officer, said it had discussed this fare with the Bangkok Metropolitan Administration (BMA) when the concession for the BTS Green Line was being mulled.

He said the maximum fare includes the cost of civil work, electric train management and revenue that BTSC has to share with BMA annually.

“The maximum fare for the Green Line cannot match that of other lines because of the difference in costs,” he said.

Transport Minister Saksiam Chidchob said the ministry was waiting for an answer from the BMA and Interior Ministry on the fare’s implementation and if there may be any legal disputes.

“I believe we still have a lot of time to consider this issue thoroughly because the concession will expire in 2029,” he said, adding that this issue will not affect commuters.

Saksiam went on to say that his ministry has already prepared information regarding fare calculation, and that Prime Minister Prayut Chan-o-cha will discuss this issue with the Interior and Transport ministries soon.

“The ministry has gathered information from the Department of Rail Transport and Mass Rapid Transit Authority of Thailand [MRTA], who was granted the concession for the MRT Blue Line, and found that the fare calculation was based on Consumer Price Index [CPI],” he added.

The Transport Ministry said it has checked BTSC and BMA’s fare calculations and found that they were based on the Commerce Ministry’s CPI, which includes the food and beverage category.

“If the BTSC and BMA did not include the food and beverage category in their calculation, the maximum fare for the Green Line would drop by 20 per cent,” the ministry said, adding that the MRTA did not include this category in its calculation.

A source from BTS operator said the private sector can cut the fare to ease commuters’ burden provided they receive support from the government.

“Once the BTS Green Line is extended, BTSC will have to bear about Bt100 billion in civil work costs and share about Bt300 billion in revenue with the BMA, so this line costs a lot more than other lines, where the operators only had to bear concession fees,” the source said.

King and Queen attend religious ceremony #SootinClaimon.Com

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King and Queen attend religious ceremony (nationthailand.com)

King and Queen attend religious ceremony

Dec 04. 2020

By THE NATION

Their Majesties the King and Queen attended the Jaroen Maha Mongkol religious chanting ceremony on Thursday evening at the Royal Plaza in front of Dusit Palace in Bangkok’s Dusit district.

The ceremony was held in remembrance of the royal kindness of the late King Bhumibol Adulyadej the Great on the occasion of his upcoming birthday on December 5.

Their Majesties were accompanied by Her Royal Highness Princess Bajrakitiyabha Narendira Debyavati, the Princess Rajasarinisiribajra and Chao Khun Phra Sineenat Bilaskalayani.

SET soars up almost 1.5% on hopes of US stimulus, vaccine, rising oil #SootinClaimon.Com

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SET soars up almost 1.5% on hopes of US stimulus, vaccine, rising oil (nationthailand.com)

SET soars up almost 1.5% on hopes of US stimulus, vaccine, rising oil

EconDec 03. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,438.32 on Thursday, up 20.37 points or 1.44 per cent. Total transactions amounted to Bt82 billion with an index high of 1,439.22 and a low of 1,420.69.

In the morning session, an analyst at Krungsri Securities expected the day’s index to fluctuate between 1,410 and 1,430 points amid hope of a US economic stimulus package, the UK’s approval of Pfizer’s Covid-19 vaccine and the rising oil price.

“However, the SET will face volatility due to a tight valuation as the index’s price-to-earnings ratio [P/E] is 28 times,” said the analyst.

He advised investors to follow the Opec+ meeting, which he predicts will extend the cap on oil production of 7.7 million barrels per day by three to six months.

“The extension will help tackle market oversupply and benefit oil prices and shares related to the oil business,” he added.

The 10 stocks with the highest trade value today were PTT, KBANK, IVL, BAM, PTTEP, CPALL, IRPC, ADVANC, SCC and AOT.

As of 4.30pm, the price of oil rose by US$0.12 or 0.27 per cent to $45.40 per barrel, while gold rose by $12.70 or 0.69 per cent, to $1,842.90 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 26,809.37, up 8.39 points or 0.031 per cent.

China’s Shang Hai SE Composite Index closed at 3,442.14, down 7.24 points or 0.21 per cent, while Shenzhen SE Component Index closed at 13,970.68, up 9.11 points or 0.065 per cent.

Hong Kong’s Hang Seng Index closed at 26,728.50, up 195.92 points or 0.74 per cent.

South Korea’s KOSPI Index closed at 2,696.22, up 20.32 points or 0.76 per cent.

Taiwan’s TAIEX Index closed at 13,977.09, down 12.05 points or 0.086 per cent.

Central bank revises rules to meet international standards, aiming to strengthen bank capital and brace for uncertain future #SootinClaimon.Com

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Central bank revises rules to meet international standards, aiming to strengthen bank capital and brace for uncertain future (nationthailand.com)

Central bank revises rules to meet international standards, aiming to strengthen bank capital and brace for uncertain future

EconDec 03. 2020Nawaron Dejsuvan, assistant governor for BOT’s Financial Institutions Policy GroupNawaron Dejsuvan, assistant governor for BOT’s Financial Institutions Policy Group 

By The Nation

The Bank of Thailand (BOT) has amended regulations on eligibility criteria for regulatory capital, so it is in line with international standards.

Nawaron Dejsuvan, assistant governor for BOT’s Financial Institutions Policy Group, said that the central bank has amended regulations on eligibility criteria for financial instruments qualified as banking capital. Though the capital level of the domestic banking system is high, with a BIS Ratio in September standing at 19.43 per cent, commercial banks will need to build up their capital cushion to withstand unanticipated events in the future. 

The eligibility criteria of financial instruments are revised in line with international standard as follows:

•    Additional Tier1 (AT1) capital instrument is a financial instrument with no maturity date. Issuing banks are allowed to pay interest or other returns to holders without prior approval from the BOT, provided the banks’ BIS Ratio is higher than the ratio prescribed by the BOT.

•    Tier 2 capital instrument is subordinated debt that can be redeemed after a minimum of five years from the date of issuance. The BOT has revoked the clause giving banks the right to postpone the schedule for the payment of interest. 

The purpose of the amendments is to assuage investors’ concerns regarding the payment of interest. As a result, banks can raise capital more easily which in turn will boost their capital levels and liquidity. Banks should, therefore, be able to provide additional loans to businesses and households to support economic recovery. 

Call the Regulatory Policy Department at (02) 283 5874, (02) 283 5878 or (02) 283 5312 for more information. 

Charter change will topple Thai state, warns ultraroyalist group #SootinClaimon.Com

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Charter change will topple Thai state, warns ultraroyalist group (nationthailand.com)

Charter change will topple Thai state, warns ultraroyalist group

PoliticsDec 03. 2020

By THE NATION

Warong Dechgitvigrom and members of his ultraroyalist Thai Pakdee group asked the Constitutional Court on Thursday to halt the charter change process, claiming it could overthrow Thailand’s system of governance.A provision in the current Constitution states that the Constitution must be amended in sections, not entirely rewritten, said Warong. Therefore, redrafting the whole charter was not in line with the law, he added.Warong also claimed that rewriting the supreme law would weaken the role of Parliament members as stated in the current Constitution. This would in turn undermine the power of citizens by depriving them of representation via members of Parliament, he said.Changing the whole Constitution would also mean changing MPs and senators, as well as members of courts and other independent organisations under the law, he said.Such a move would amount to overthrowing the administration, said Warong.He also called on the president of Parliament to bring a halt to the charter change process.

Charter court accused of overlooking questioned raised by Pheu Thai in Prayut’s Army residence case #SootinClaimon.Com

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Charter court accused of overlooking questioned raised by Pheu Thai in Prayut’s Army residence case (nationthailand.com)

Charter court accused of overlooking questioned raised by Pheu Thai in Prayut’s Army residence case

PoliticsDec 03. 2020Prasert JantararuangtongPrasert Jantararuangtong 

By THE NATION

Prasert Jantararuangtong, secretary-general of opposition Pheu Thai Party, told the press on Wednesday that his party has done its best by suing the premier for continuing to live in an Army residence after retiring as Army chief in September 2014. The Constitutional Court, however, ruled unanimously on Wednesday that Prime Minister Prayut Chan-o-cha has not violated the charter by staying on in his Army residence and can remain in office. Prayut was accused of violating Articles 184 and 186 of the Constitution that forbid a minister from “receiving any special money or benefit from a government agency, state agency or state enterprise apart from that given by the government agency, state agency or state enterprise to other persons in the ordinary course of business”. In his court testimony, Prayut argued that his security team had advised him to continue living in the Army residence for his safety. Hence, he said, the lawsuit should be dismissed. Moreover, the court was told that as a former Army chief, Prayut deserves the honour and security the residence provides. The residence is within the First Infantry Battalion of Royal Guards compound on Vibhavadi Rangsit Road. Prasert said the court’s verdict was not in line with the facts his party had put forward, especially the question why this prime minister requires extra security when former premiers had lived in their official residence without requiring any special protection. He said he was also concerned about verdicts in similar cases in the future, adding that Pheu Thai will also look into the so-called Army reforms claimed to have been put in place by former commander in chief General Apirat Kongsompong. In the evening, Prasert was invited to join a talk show on Thairath TV anchored by Jomquan Lopetch to discuss the verdict, as well as the PM conflict of interest. In the show, the secretary-general pointed out that Prayut would have been found guilty if the court focused on the Constitution instead of Army regulations. He said Prayut currently holds a political post rather than one in the military, which means he should come under the purview of the Constitution, not Army regulations. However, Paiboon Nititawan from the ruling Palang Pracharath Party, who presented the other side in the show, insisted that Prayut had every right to stay on in the Army residence because he was once a soldier. Thai social media, meanwhile, was full of comments slamming the verdict and Thailand’s judiciary for finding Prayut “not guilty” even though he had blatantly violated the country’s supreme law.

Thailand to launch nationwide Covid-19 vaccination in May #SootinClaimon.Com

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Thailand to launch nationwide Covid-19 vaccination in May (nationthailand.com)

Thailand to launch nationwide Covid-19 vaccination in May

NationalDec 03. 2020

By The Nation

Thailand’s Covid-19 vaccination programme will begin in May 2021, according to the Department of Disease Control (DDC)’s action plan revealed on Thursday.

The country last week signed a Bt6-billion deal to buy 26 million doses of the AstraZeneca/Oxford vaccine to immunise 13 million people.

The vaccine will first have to pass safety and quality checks applied by the Thai Food and Drug Administration and Department of Medical Sciences under the Public Health Ministry, said DDC director-general Opas Karnkawinpong.

Secondly, the DDC will prepare vaccination centres at more than 10,000 subdistrict health promotion hospitals nationwide to reach communities quickly and prevent crowding in large hospitals. A cold-chain transport system to maintain vaccine quality is now being prepared, and officials are being trained for the mass vaccination programme. The first to be called for registration will be medical staff, young children, the elderly, and vulnerable groups.

Local health authorities will then summon registered participants for vaccination at health promotion hospitals or mobile health units.

The vaccinations will begin in May 2021, according the DDC action plan.

A programme to monitor any adverse side effects will run from July until January 2022.

A public information campaign will also explain that groups with high natural immunity don’t need to be vaccinated right away.

Opas confirmed that vaccination will be provided free of charge by the government. Private hospitals can source their own vaccine supply, he added.

150 Thai nationals seek to return home as Covid-19 infections rise in Tachilek #SootinClaimon.Com

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150 Thai nationals seek to return home as Covid-19 infections rise in Tachilek (nationthailand.com)

150 Thai nationals seek to return home as Covid-19 infections rise in Tachilek

NationalDec 03. 2020Thailand-Myanmar border gate at Mae Sai, Chaing Rai.Thailand-Myanmar border gate at Mae Sai, Chaing Rai. 

By The Nation

As many as 150 Thais who work or live in Myanmar’s Tachilek district have asked for permission to return to Thailand via Chiang Rai, Dr Opas Karnkawinpong, director-general of the Department of Disease Control, told the press on Thursday.

In addition, more than a million health volunteers will be deployed to knock on doors to see if anyone has sneaked across the border from Myanmar.

Maj-General Narit Thawornwong, commander of the Pha Muang Force, said on Wednesday that he had met with relevant agencies to come up with a plan to block crossings via the second Thai-Myanmar Friendship Bridge in Chiang Rai’s Mae Sai district. Agencies at the meeting have also agreed to deploy more troops and at least 80 officials to intercept illegal border crossings.

As of press time, 15 new Covid-19 infections had been detected in Tachilek, bringing the total number of cases to 64.

The local border committee was told by the manager of the 1G1 hotel-cum-entertainment complex that up to 180 Thai nationals work there. Many of the Thai women who sneaked back into Thailand and were found to be infected with Covid-19 worked at the 1G1.