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https://www.nationthailand.com/business/40013549

The Industrial Estate Authority of Thailand (IEAT) will join hands with a private developer to build a new industrial estate on a 1,546-rai (247.36 hectares) plot in the Eastern Economic Corridor zone in Rayong province.

IEAT governor Weerit Amrapal said the IEAT will have a partnership with Thai-Chinese Rayong Industrial Realty Development Co Ltd to build a new industrial estate in Rayong’s Ban Khai district.

The new industrial estate will be for S-Curve and new S-Curve industries to operate in line with the government’s policy to promote investments in new technology industries, Weerit said.

He said the private developer would invest in the development and provide public utilities services for the companies in the estate and the IEAT would supervise the operation.

The new estate will be called the Nong Lalok Industrial Estate and will be built on a plot of 1,546 rai in Tambon Nong Lalok in Ban Khai.

He said the plot is at an elevation so it has no risk of flooding.

The new estate will be about 14 kilometres from the Chon Buri-Pattaya Motorway and 24 kilometres from the Map Ta Phut sea port. It will be located about 40km from U-Tapao International Airport, 60km from the Laem Chabang deep seaport and 150km from Suvarnabhumi Airport.

The estate will allocate 1,123 rai for the industrial zone, 22 rai for a power plant, 181 rai for public utilities and 218 rai for a green zone.

Weerit said the private firm would need about two years to build the estate.

The IEAT expects the industrial estate to draw about THB45.84 billion of investments and create 11,460 jobs.

Since the new industrial estate would be located in the EEC where investors would receive tax privileges, the IEAT expected the industrial zones to be either leased or sold out in five years, Weerit added.

Published : March 18, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40013534

The government collected 911.6 billion baht in revenue in the first five months of fiscal year 2022 (October 2021 to February 2022), a 7 per cent increase year on year, Finance Ministry spokesman Pornchai Thiravej said on Thursday.


The collections exceeded the ministry’s estimates by 5.4 per cent, or THB45.9 billion.

“Most of the revenue is from the Revenue Department which has exceeded its collection target by 13.7 per cent, or THB84.7 billion,” he said.

“All the three main taxes, namely valued added tax, corporate, and personal income taxes have seen increased collections in the first five months of this fiscal year compared to the previous year.”

The Finance Ministry also reported that from October 2021 to February 2022, the government has deposited THB901.4 billion revenue with the treasury, and has disbursed a budget of THB1.42 trillion. To compensate for the deficit, the government has borrowed a total of THB394.4 billion. The country’s treasury reserves as at the end of February 2022 were THB418.5 billion.

Meanwhile, the Bank of Thailand (BOT) reported accumulated losses of THB1.093 trillion at the end of 2021, in an announcement of its currency reserves and banknote operations published on the Royal Gazette website on Thursday.

The central bank reported that at the end of 2021 it had financial reserves worth THB6.449 trillion.

Financial assets include cash and deposits, foreign deposits, gold, holdings, special drawing rights, domestic and foreign securities, loans and other assets.

Thailand’s currency reserves at the end of 2021 stood at THB3.277 trillion, including foreign deposits, gold, foreign securities and other assets.

The BOT also reported that Thailand had THB2.319 trillion worth of banknotes in circulation, plus THB90.1 billion of notes held by the BOT. The issued banknotes are fully backed by assets.

Published : March 18, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40013529

KBank Private Banking (KPB) has highlighted three major trends in the real estate market for the the “new normal” era. KPB says the government’s policy not to extend the land and building tax cut in 2022 will likely prompt high net worth individuals to convert their land holdings into collateral and investment funds to chase higher returns. KPB has targeted a new Land Loan for Investment of up to Bt10-15 billion this year.

The government’s decision to not renew the 90 per cent cut in the land and building tax means undeveloped land can no longer generate revenue streams to cover tax or other related expenses, KPB’s chief of non-capital market solutions Korakoch Atthasakulchai noted.

“Landlords or real estate investors should carefully study market trends while seeking opportunities to enhance their land’s potential to generate attractive returns that could cover related expenses or even grow their existing assets,” she added.

As such, landowners and investors should watch the following three trends:

1. New ways of using land during the ‘new normal’ era: The Covid-19 pandemic has drastically changed the way we lead our lives. Work-from-home has become increasingly popular, and it is expected to be a mainstream work choice in the future. Given this, the number of people traveling to work in the city will decline, and this is bound to affect land utilisation. For instance, people will likely prefer to live in homes that are more spacious than a condominium unit; office spaces may become smaller; online shopping will replace shopping malls; and consumers will also prefer to order food to eat at home rather than dining out. All of these factors will likely cause land prices in downtown areas to decline, while those in the outskirts of cities will likely increase. Aside from the location, another important factor is the potential of a piece of land, ie, how it can be developed to meet the needs of consumers in today’s world.

2. More opportunities in property investment: As Covid-19 has brought an immediate liquidity crunch to many businesses or forced them to adjust plans and strategies due to the new market environment, more assets than ever before, including properties, have been put up for sale at reasonable prices. Prospective buyers may also have a greater chance of owning the most sought-after properties in some prime areas, although their prices may not decline in certain locations. Therefore, this is a good time for investors who dislike volatility in the capital market and want to collect additional properties. However, one must bear in mind the potential tax burden before deciding to invest in the property market.

3. A chance to convert the land into investment funds in order to generate cash for land and building tax payment: As the land and building tax has become an additional burden after the government rescinded the 90-per cent reduction, and as the tax will likely be hiked by 0.3 per cent every three years in line with the increase in land appraisal value, converting land into capital funds in order to seek returns for land tax payment via Land Loan for Investment is gaining interest from high net worth individual clients. KPB said Land Loan for Investment is the conversion of land into collateral, and in return, clients receive an investment credit limit for an opportunity to gain returns.

Published : March 18, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40013520

The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,675 and 1,690 points on Friday, Krungsri Securities said.

It said the index gained positive sentiment from the surge in crude oil price to above US$100 per barrel, progress in ongoing Russia-Ukraine negotiations and the US Federal Reserve’s confirmation of a strong US economy.

“However, the index may be under pressure due to mass sell-offs in response to signs of overbought stocks,” Krungsri Securities said.

It recommends the purchase of the following as an investment strategy:

• PTTEP, PTT, TOP, SPRC and BCP will benefit from the rising price of oil and gross-refining margin.

• KBANK, BBL, TTB and KTB will benefit from rising US bond yield and news of US interest rate hike.

• AOT, AAV, MINT, CENTEL, ERW, BH and BDMS will benefit from tourism stimulus measures.

The SET Index closed at 1,681.76 on Thursday, up 13.84 points or 0.83 per cent. Transactions totalled 97.76 billion baht with an index high of 1,686.45 and a low of 1,677.19.

Published : March 18, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40013519

The baht opened at 33.26 to the US dollar on Friday, strengthening from Thursday’s close of 33.30.

Krungthai Bank market strategist Poon Panichpibool said he expected the Thai currency to move between 33.20 and 33.40 during the day.

He reckons the baht has a chance to strengthen as the currency market is open to more risks, which will see foreigners investing in Thai stocks and bonds again.

He suggested speculation on when foreign investors will start buying short-term bonds because it will signal the strengthening of the baht.

However, a slowdown in the Chinese economy due to the Omicron variant is still a risk factor that requires close monitoring where the Thai economy and baht are concerned, he said.

Poon added that the baht may not strengthen too much because importers are waiting to buy the dollar.

He believes the baht’s resistance level will stand at 33.50 to 33.60, which could see exporters offloading the dollar, while the key support level will stand at 33 to 33.20, which will spur importers to purchase the greenback.

Overall, the currency market is open to more risks continuously after the US Federal Reserve signalled an increase in the interest rate as expected. The Fed is certain that the US economy can handle the interest rate increase several times.

Though there is no certainty of peace being brokered between Russia and Ukraine, most investors hope negotiations will proceed and ease tensions.

Published : March 18, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40013507

Thailand’s insurance industry regulator has ordered Southeast Insurance and Thai Insurance to suspend sale of non-life policies and rectify their financial position within the stipulated timeframe.

Both companies have been facing financial difficulties due to the massive claims for Covid-19.

They were among the Thai insurance firms that started selling policies for Covid-19 infections in 2020 when the number of domestic cases was low. Under a so-called “found and paid” format, those policies typically offered to pay as much as 50,000 baht to any policyholder infected with the coronavirus for premiums as low as THB300.

The Office of Insurance Commission has issued a nine-point directive to Southeast Insurance and Thai Insurance for urgent implementation in order to ensure their customers would not be affected by their financial problems, the agency’s secretary-general, Suthiphon Thaveechaiyagarn, said on Thursday.

He said conditions have been set by the commission’s board for both firms to comply so as to prevent damage to their customers and the public.

Both firms were ordered to suspend non-life insurance, ensure adequate funds to meet their legal obligations within 30 days, urgently proceed with the authorised sale of their assets to repay their policyholders, accelerate insurance payments, and arrange sufficient staff to handle claims.

The order was issued after the commission found that the financial positions of Southeast Insurance and Thai Insurance were unstable, with liabilities in excess of assets.

Earlier, the agency had closely monitored their financial status and held many meetings with representatives of both companies, according to Suthiphon.

Southeast Insurance and Thai Insurance have partially kept their promise of refunds for insurance coverage against Covid-19 infections in exchange for their customers’ voluntary cancellation of their insurance policies.

Also, their plans to transfer insurance policies to other insurers have not been completed, causing many customers to file complaints about payment delays.

Published : March 17, 2022

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40013496

Some 30,000 vendors from over 300 fresh markets have been able to sell online and use digital payment systems, generating over Bt300 million in online trading value so far, according to the Digital Economy Promotion Agency (Depa).

Depa director-general Nattapol Nimmanphatcharin on Wednesday announced the success of the “Transform Fresh Markets to New Ways” programme at an exhibition held at the True Digital Park. The exhibition was called “Transform Market Showcase 2022”.

Nattapol said the project started in September 2021 and it was initially launched as a pilot project in Bangkok, Nakhon Sawan, Nakhon Pathom, Chainat, Singburi and Lopburi provinces. The project was later expanded to Pathum Thani, Nonthaburi, Samut Sakhon and Samut Prakan provinces.

He said the project is aimed at encouraging small and medium-sized enterprises (SMEs), small entrepreneurs, and street vendors to trade their products on digital platforms and to accept digital payments.

As of March 2022, the programme has helped 30,050 vendors from 300 fresh markets partner with 28 Thai digital startups and digital providers to sell their products online.

More than 200,000 items are available online on digital platforms, generating sales of over Bt300 million so far, Nattapol added.

He said the statistics from his project showed that Bangkok, Samut Prakan and Samut Sakhon were the top three provinces with vendors turning to sell online apart from their conventional trade.

He said the vendors who joined the digital platforms came from weekly markets, fresh markets and street-side sellers.

The vendors use e-payment and delivery systems of their choices on digital platforms, Nattapol added.

The Depa has so far trained some 1.2 million interested people in conducting online trading since August last year, Nattapol said, adding that the training was offered via YouTube, Facebook, Classwin and Digital Skill platforms.

“The programme has pushed vendors to access and apply digital technologies to their trade. The programme helped them select Thai digital startups and digital providers to suit their trades,” Nattapol said.

He said the Transform Market Showcase 2022 was held to show the success and potential of the vendors who accessed and applied digital technologies to enhance their trade. The programme will also play a part in turning Thailand into a cashless society, he added.

The director-general said Depa will expand the project to 65,000 other shops and build pilot digital markets in 25 more provinces. They are: Chiang Mai, Chiang Rai, Lampang, Lamphun, Nan, Udon Thani, Khon Kaen, Nakhon Ratchasima, Buri Ram, Mahasarakham, Ayutthaya, Suphanburi, Kanchanaburi, Phetchaburi, Prachuap Khiri Khan, Chachoengsao, Ratchaburi, Saraburi, Chonburi, Rayong, Phuket, Krabi, Surat Thani, Nakhon Si Thammarat, and Trang.

Published : March 17, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40013487

The Finance Ministry is ready for cash injection to assist state welfare card holders and minor operators under the “Kon La Krueng” co-payment scheme.

Finance Minister Arkhom Termpittayapaisith said on Wednesday that his ministry was considering the source of funds to support government subsidies to decrease the cost of living.

Deputy Finance Minister Santi Promphat expects no problem with finding money for the purpose.

However, he said, the Fiscal Policy Office reported that it had a fiscal limitation because some organisations could not reach the target of revenue collection. However, the government saw a necessity to spend to help people in lower income levels.

Santi said the spending would not only help low-income earners but also stimulate the economy.

Published : March 17, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40013476

The Stock Exchange of Thailand (SET) Index is expected to rise to between 1,675 and 1,680 points on Thursday in response to the US Federal Reserve’s move to raise the interest rate by 0.25 per cent, Krungsri Securities said.

The Fed also signalled it would raise the rate six times by 0.25 per cent to a range between 1.75 and 2.00 per cent by the end of this year, Krungsri Securities pointed out.

“In addition, progress in Russia-Ukraine negotiations after Ukraine agreed to discuss the hot-button issue of being a neutral country would help boost the index,” Krungsri Securities added.

It recommends the purchase of the following as an investment strategy:

• KBank, BBL, TTB, and KTB, which will benefit from a rising US bond yield and news of a US interest rate hike.

• SCC, GPSC, BGrim, SCGP and EPG, which would gain from the falling oil price.

• KCE, Hana, SVI, Com7 and Synex, which would benefit from rising technology share prices.

The SET Index closed at 1,667.92 on Wednesday, up 23.56 points or 1.43 per cent. Transactions totalled 78.16 billion baht with an index high of 1,668.95 and a low of 1,653.87.

Published : March 17, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40013474

The baht opened at 33.34 to the US dollar on Thursday, strengthening from Wednesday’s close of 33.38.

Krungthai Bank market strategist Poon Panichpibool predicted the Thai currency would move between 33.25 and 33.45 during the day.

Poon said the baht might swing sideways and even strengthen as the currency market was open to more risks, which could see foreigners investing again in Thai stocks and bonds.

However, a Chinese economic slowdown due to the Omicron variant is still a risk factor to be closely monitored where the economy and baht are concerned, Poon advised.

He said the baht’s resistance level was 33.50, which could see exporters offloading the dollar, while the key support level was 33.20, which would spur importers to purchase the US currency.

Investors are ready to take more risks amid hopes that negotiations between Ukraine and Russia would be successful after Ukraine was reported to be ready to discuss the hot issue of becoming a neutral country, he said.

Moreover, there were hopes Russian President Vladimir Putin might sit down and negotiate with Ukrainian leader Volodymyr Zelensky, leading to an end of the war, Poon added.

Published : March 17, 2022

By : THE NATION