#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Japan mulls tax breaks for foreign finance hires

EconSep 21. 2020Prime Minister Yoshihide Suga 

By The Japan NewsAiming to raise Japan’s status as a global financial center, the government and ruling parties plan to study a system to encourage the entry of overseas financial institutions and the hiring of foreign finance professionals.

The main pillars of this system would be reducing corporate and inheritance taxes, as well as beefing up English-language support for business licensing procedures.

With Prime Minister Yoshihide Suga eager to expand the hiring of financial specialists, the government is hurrying to prepare the necessary environment.

■ Taxing overseas assets

The opaqueness of the tax system is considered a major barrier for foreign financial institutions looking to expand into Japan. For example, performance-based executive compensation paid by asset management companies may not be deductible in Japan, due to reasons such as large fluctuations in the amounts. This leaves companies unable to reduce their taxable income, which raises their corporate tax burden.

Faced with pressure from financial institutions to revise the system, the government and ruling parties plan to study how to clarify the inclusion rules. This would make it easier for foreign asset management companies to do business in Japan.

Foreign professionals are also extremely wary of Japan’s inheritance tax. When a foreigner who has lived in Japan for a certain period of time dies, his or her overseas assets are also subject to inheritance tax, so it is commonly said among wealthy foreigners that one should “never die in Japan,” and many balk at coming here to live.

Among the issues to be studied is whether to make assets held overseas before someone comes to Japan exempt from inheritance taxes.

The Liberal Democratic Party’s special committee on foreign workers plans to compile proposals on hiring financial professionals to submit to the government within the month. The Financial Services Agency plans to call for revisions to the corporate and inheritance tax systems in its tax reform requests for fiscal 2021.

The government also plans to improve English-language support for administrative procedures.

In principle, procedures for licensing asset management companies and other businesses are carried out in Japanese, which is an obstacle to companies seeking to enter Japan. The agency’s budget request for fiscal 2021 is expected to include funding to hire lawyers who speak English and have experience in financial law. The supervision and inspection of foreign financial institutions could switch from Japanese to English by the end of the year.

In addition, the Hong Kong national security law has raised the possibility of an outflow of professionals from what has been Asia’s leading financial hub.

On Wednesday, Suga ordered Finance Minister Taro Aso, who holds the finance portfolio in the Cabinet, to accelerate the study of how to raise Japan’s status as a financial center.

Domestically, the Tokyo metropolitan and Fukuoka city governments have policies for attracting foreign financial institutions.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Study identifies pros and cons of Thai-EU free trade deal

EconSep 21. 2020Director-general Auramon Supthaweethum 

By The Nation

Entering a free trade agreement (FTA) with the European Union would boost revenue from some Thai exports but at the cost of Thailand having to import more products from the EU, according to a study.

The findings of the study, conducted by the Institute of Future Studies for Development, will be presented at a Department of Trade Negotiations’ seminar in Bangkok next Tuesday, said the department’s director general Auramon Supthaweethum.

The preliminary study on the pros and cons of a Thai-EU free trade pact found it would expand Thai exports of auto parts, electronic equipment, food, rubber and plastic to the EU.

But in exchange, Thailand would have to import more dairy products, oil seeds and technology products from the EU.

The EU has already forged free trade deals with Singapore and Vietnam and is in talks for a deal with Indonesia. It has suspended talks with Thailand, Malaysia and the Philippines. Talks with Thailand that began in 2013 were suspended in 2014.

Thailand has so far signed 13 free trade accords with 18 countries. These consist of Asean partner countries, China, Japan, South Korea, India, Australia, New Zealand, Chile and Peru.

Trade with these 18 countries last year accounted for 62.8 per cent of Thailand’s total trade with global partners. That figure would rise to 70.7 per cent if Thailand forged a free-trade deal with the EU, Auramon added.

The EU is currently Thailand’s fifth largest trading partner, after Asean, China, Japan and the US. It is the fifth largest investor in Thailand after Japan, China, Asean, and Taiwan.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Government panel pushes Bt1.2-trillion transport mega-projects

EconSep 21. 2020

By The Nation

The government’s subcommittee tasked with examining medium and long-term economic measures has reportedly suggested expediting mega-projects to the Centre for Economic Situation Administration.

The total value of the projects is estimated at around Bt1.2 trillion. Investment in these projects should be accerelated, the panel has recommended.

Among them are the Bang Sue-Rangsit and Bang Sue-Taling Chan Red Line mass-transit system worth Bt1.07 billion. The project is slated to be trialled on July 1, 2021.

Another project is the Phase-1 Thailand-China high-speed train project. All its civil work contracts are expected to be signed next year and construction is expected to be finished in 2025.

Another one is the Kae Rai-Lam Sali Brown Line mass-transit system costing Bt48.5 billion. Construction will begin in 2024 with operations commencing in 2027.

They also include the Phase-1 Phuket mass-transit system worth Bt35.2 billion, the Red Line mass-transit system in Chiang Mai worth Bt27.3 billion, and Phase 3 of the Laem Chabang deep seaport development worth Bt114 billion.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Hopes of quick economic recovery make Vietnam’s shares attractive

EconSep 21. 2020

By The Nation

Vietnamese company shares have become attractive to investors, as the country’s economy is seen as recovering rapidly.

Vietnam is one of the Southeast Asian countries that has been able to contain the spread of Covid-19, enabling a quick turnaround of its economy.

The General Statistics Office of Vietnam expected economic growth this year to be at 3.6 per cent, down from 7 per cent in the previous year.

Vietnam was able to draw investments from several countries, such as Singapore, South Korea and China, while the country’s foreign trade performed well.

Vietnam’s stock market is also a good choice for investment, as its price-to-earnings was 14 times, higher than that of neighbouring countries. As of August 31, the country’s VN30 Index year-to-date returns contracted 2.16 per cent, performing better than other regional indices.

The VN30 Index is made up of 11 industries, enabling the index to diversify investment.

One Vietnamese equity fund that is able to generate high returns is the Principal Vietnam Equity Fund (Principal VNEQ). The fund’s year-to-date returns as of September 17 contracted 1.36 per cent, 6.25 per cent in the past three months, 19.79 per cent in the past six months, contracted 8.08 in the previous year and 6.02 per cent yearly since inception.

The fund’s year-to-date return was higher than other equity funds. Its year-to date-return was 4.93 per cent in the past three months, 18.61 per cent in the past six months and contracted 10.01 in the previous year.

Also, the fund’s year-to-date returns as of July 31 was similar to the VN30 Total Return Index that contracted 12 per cent, while its year-to-date return compared to the total return index in the past three months was 2.62 per cent and 0.92 per cent, respectively.

Principal VNEQ’s outstanding point is the bottom-up strategy and fund manager’s risk management, picking up middle- and large-cap shares with good fundamentals, high growth, sufficient liquidity and appropriate prices.

As of July 31, Principal VNEQ invested 98.5 per cent in Vietnam Dairy Products JSC, 7.34 per cent in Vinhomes JSC, 7.02 per cent in Hoa Phat Group JSC, 6.42 per cent in Vincom Retail Joint Stock Co and 6.39 per cent in Housing Development Bank.

Principal VNEQ is suitable for investors who invest in foreign shares because it has risks from liquidity, concentration, currency exchange and volatility. Also, the fund collects fees higher than other foreign funds at 2.31 per cent yearly, while the front-end fee is 1.50 per cent per annum.

Principal VNEQ’s net asset value per share was Bt7.9478 per share, while net asset value was Bt1.30 billion. The fund does not have a policy to pay dividends.

Considering the investment trends in the rest of this year, Principal VNEQ is another interesting choice for investment, but investors should gradually buy stocks when the market falls to diversify risks and increase the chance to get returns from Vietnam’s economic recovery, which is likely to be rapid.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET likely to react next week to Saturday’s pro-democracy rally in Bangkok

EconSep 19. 2020

By The Nation

Experts are predicting mass sell-offs of gold next week due to the current economic climate.

The baht weakened against the dollar this week (September 14-18), as investors were disappointed with the US Federal Reserve’s recent moves.

The Fed recently indicated it would maintain the interest rate at a low level for three years, but it did not unveil any measures to stimulate the economy.

An analyst at CIMB Thai Bank expected the baht next week to move between Bt31.00 and Bt31.40 against the dollar.

“Next week, the People’s Bank of China would announce the loan prime rate for September, while the US IHS Market would announce the Flash Manufacturing and Service Purchasing Managers’ Indices for September,” he said.

He advised investors to follow the US-China conflict after the World Trade Organisation reported that the US had violated international trade rules regarding tariffs on Chinese imported goods.

The Stock Exchange of Thailand Index on Friday closed at 1,288.39, up 3.99 points or 0.31 per cent, while total transactions stood at Bt49.97 billion. The index moved in a narrow range this week.

An analyst at Asia Plus Securities expected the index next week to react to students’ political rally on Saturday (September 19).

“Meanwhile, we expect the Monetary Policy Committee to maintain the interest rate at 0.5 per cent in line with the one-year Thai bond yield of 0.51 per cent at the meeting on September 23,” he said. “The index is expected to move between 1,270 and 1,300.”

Gold price on Saturday was US$1,950.50 per ounce while the price in Thailand was Bt28,650 per baht weight.

An analyst at YLG Bullion International advised sale of gold if the price does not rise above the resistance line between $1,960 and $1,973 per ounce, and buying back when the price drops to the support line between $1,936 and $1,931 per ounce.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Gold drops in Thailand despite gains in US market

EconSep 19. 2020

By The Nation

The price of gold dropped by Bt100 per baht weight in morning trade on Saturday (September 19), the Gold Traders Association reported.

As of 9.10am, the buying price of a gold bar was Bt28,550 per baht weight and selling price Bt28,650, while gold ornaments were priced at Bt28,030.84 and Bt29,150, respectively.

At close on Friday, the buying price of a gold bar was Bt28,650 per baht weight and selling price Bt28,750, while gold ornaments were priced at Bt28,136.96 and Bt29,250, respectively.

Comex (Commodity Exchange) gold to be delivered in December rose by US$12.2, or 0.63 per cent, closing at $1,962.1 (Bt60,978.25) per ounce on Friday.

Gold price closed in positive territory on Friday as investors were buying gold as a safe-haven asset amid uncertainty following the economic recovery, while the weakening dollar also boosted the precious metal’s price.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

EEC plans 6 centres of excellence to boost workforce skills

EconSep 19. 2020EEC Office secretary-general Kanit Sangsubhan

By The Nation

Six centres of excellence will be launched in the Eastern Economic Corridor (EEC) to equip students with knowledge of advanced technologies for the 10 industries targeted by the corridor, said EEC Office secretary-general Kanit Sangsubhan.

Each will focus on teaching one technology specialism, with a centre of automation and robotics, of logistics, of next generation automotives, of track systems, of aviation, and of tourism.

Recently the EEC authority joined with Mitsubishi Electric Factory Automation (Thailand) to set up an automation and robotics excellence centre, called the EEC Automation Park, at Burapha University in Chonburi.

“The EEC expects to see demand for more than 37,000 workers with automation and robotics skills in the next five years,” Khanit said.

The company’s managing director, Wichiene Ngamsukkarsemsri, said that students of Burapha University and 20 other educational institutes can use the facilities at the centre. This would create a vast network of personnel with automation and robotics skills, he added

Construction of the centre is 30 per cent complete and should be finished by the middle of next year.

The EEC stretches across the eastern seaboard provinces of Rayong, Chonburi and Chachoengsao.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Direction of Thai stock market relies on direction Saturday rally takes, say experts

EconSep 19. 2020

By The Nation

Experts are advising investors to monitor the political rally on Saturday (September 19), because the direction Thailand’s stock index takes will depend very much on the severity of the situation.

Apichat Poobunjirdkul, Tisco Securities senior director for strategic analysis, said the domestic political situation has always had an effect on the Thai stock market.

He said that though government will not initially harm protesters, the result will depend on how far the protesters go.

“We don’t expect the index to fall below 1,250, and it even has the chance to rise beyond 1,300 if the protest wraps up quickly. However, there is a chance that the index will drop to 1,200 if the situation escalates or is prolonged,” he said.

“The student-led protest on Saturday and the House meeting on September 23-24 will have an impact on the direction the Thai stock market takes, while the US presidential election, US-China tensions and Brexit negotiations will cause market volatility over the next two months.”

He said he expects the index to move between 1,250 and 1,280, and is advising investors to buy stocks for investment as the current price-to-earnings ratio has risen to 16-17 times from 15-16 times at the end of last year. Hence, he believes the index will move between 1,281 and 1,297 in the fourth quarter of this year, and rise beyond 1,300 in the first quarter of 2021.

He also added that the Thai stock market is likely to face a Fibonacci retracement technical correction at 1,269.

“We recommend buying stocks that pay dividends of more than 4 per cent per year and whose profits will rise later in the year,” he added.

Therdsak Thaveeteeratham, executive vice president for research at Asia Plus Securities, said investors are closely monitoring the political situation and the index will probably fall below 1,270 if things escalate. However, he said, the index will move between 1,270 and 1,300 if the situation is not severe.

“Currently, there were two factors pressuring the index – local political unrest and the Covid-19 outbreak,” he said.

Meanwhile, Nuttachart Mekmasin, assistant managing director for Trinity Securities, said he does not think the Saturday rally will get out of hand, though protesters will continue pressuring the government.

“The Thai stock index will fluctuate in a narrow range if protesters continue pressuring the government peacefully, but it will fall sharply if the situation gets out of hand. Hence, this is the time to buy shares because listed companies’ performance is expected to improve next year,” he said.

He sees the index resistance level at 1,310 and the support line between 1,270 and 1,250, adding that the index movements will depend very much on whether or not the situation escalates.

He advised investors concerned about the political situation to purchase stocks that will escape the political impact and are not involved in country’s supply chain, such as food, electronics and rubber products produced for export.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET rises despite political unrest, FTSE rebalancing

EconSep 18. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,288.39 on Friday, up 3.99 points or 0.31 per cent. Total transactions amounted to Bt49.97 billion with an index high of 1,293.29 and a low of 1,280.43.

In the morning session, an analyst at Krungsri Securities expected the day’s index to fluctuate between 1,275 and 1,295 despite the oil price rising above US$40 per barrel.

“Student protesters’ rally tomorrow [Saturday] and the FTSE’s index rebalancing, which will be effective on Friday evening, will cause volatility in the SET,” he said.

The 10 stocks with the highest trade value today were BBL, CRC, PTT, TASCO, AOT, KBANK, BDMS, SCB, ADVANC and SCC.

As of 4.30pm, the price of oil rose by US$0.06 or 0.15 per cent to $41.03 per barrel, while gold rose by $13.50 or 0.69 per cent, to $1,963.40 per ounce.

Other Asian indices were on the rise:

Japan’s Nikkei Index closed at 23,360.30, up 40.93 points or 0.18 per cent.

China’s Shang Hai SE Composite Index closed at 3,338.09, up 67.65 points or 2.07 per cent, while Shenzhen SE Component Index closed at 13,245.09, up 229.90 points or 1.77 per cent.

Hong Kong’s Hang Seng Index closed at 24,455.41, up 114.56 points or 0.47 per cent.

South Korea’s KOSPI Index closed at 2,412.40, up 6.23 points or 0.26 per cent.

Taiwan’s TAIEX Index closed at 12,875.62, up 2.88 points or 0.022 per cent.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Gold price rises in Thailand despite fall in US market

EconSep 18. 2020

By The Nation

The price of gold rose by Bt50 per baht weight in morning trade on Friday (September 18), the Gold Traders Association reported.

As of 9.26am, the buying price of a gold bar was Bt28,650 per baht weight and selling price Bt28,750 while gold ornaments were priced at Bt28,136.96 and Bt29,250, respectively.

At close on Thursday, the buying price of a gold bar was Bt28,600 per baht weight and selling price Bt28,700, while gold ornaments were priced at Bt28,091.48 and Bt29,200, respectively.

The Comex (Commodity Exchange) gold price to be delivered in December dropped by US$20.6, or 1.05 per cent, closing at $1,949.9 (Bt60,758.09) per ounce on Wednesday.

Gold price closed in negative territory on Thursday, as investors were disappointed with US Federal Reserve’s move. Although the central bank indicated it would maintain the interest rate at a low level for three years, it did not reveal any measures to stimulate the economy.

Hong Kong gold price rose by HK$70, opening at $18,030 (Bt72,471.45) per tael on Friday morning, the Chinese Gold and Silver Exchange Society reported.