Category Archives: Economics

Asean set for tourism push

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ASEAN TOURISM

SUCHAT SRITAMA
THE NATION
MANILA January 21, 2016 1:00 am
Phuket, Thailand

Phuket, Thailand

As grouping turns 50 next year, campaign will promote 600 destinations in the region.

IN ORDER to build a real sense of community, Asean will for the first time launch a regional tourism campaign to promote 600 destinations to boost arrivals and income when the regional grouping turns 50 next year.

Pongpanu Svetarundra, permanent secretary of the Ministry of Tourism and Sports, said officials of national tourism organisations from the 10 nations had agreed at a meeting in the Philippines to introduce “Asean at 50” as the new regional tourism campaign.

The campaign will be announced tomorrow at the Asean Tourism Forum in Manila and there will be a grand opening at the International Tourism Berse (ITB) in Germany in the first quarter of this year.

“Asean promotes itself as a single-market tourist destination as all members were integrated into an economic community at the end of last year. The campaign will be part of Asean’s 50th anniversary celebrations,” Pongpanu said.

Asean will be promoting 600 attractions located across the region, which will be divided into 12 different categories under the theme of “50 Best…”.

The dozen categories will be the 50 best of cities, hotels, restaurants, food, festivals and celebrations, beaches, shopping, historical sites, adventure tourism, small towns and villages, markets, as well as unforgettable experiences.

Pongpanu said each Asean member would propose their attractions and products to a central committee, which should complete the selection procedure before the grand opening in Germany.

Thailand is assigned to lead the selection of two categories: festivals and celebrations, as well as unforgettable experiences, he said.

“The new campaign should boost tourism income and total arrivals in the region by 15 per cent from 100 million to 115 million,” he added.

Officials from national tourism organisations also approved another 10-year Asean Tourism Strategic Plan (ATSP) set for 2016-25, while Asean tourism ministers adopted the ATSP 2011-15 that focused on 19 measures.

Plan for tourism professIonals

The 10-year plan is also expected to boost tourism earnings for the entire region from 10 to 15 per cent in 2025, while employment in the sector should rise from 3 to 7 per cent, travellers’ length of stay will climb from 6.3 days to eight days and average spending per trip per visitor will rise from $900 to $1,500 or Bt 27,000 to Bt45,000.

According to the United Nations World Tourism Organisation, the total number of international arrivals in Asean is expected to rise to 123 million by 2020, 152 million by 2025 and 187 million by 2030.

Pongpanu said Asean will be also focusing on other developments such as improving infrastructure, enhancing competency, labour transfer, a single visa for all nations in the grouping as well as maintaining major tourism markets such as China, India and Russia.

On January 19, all 10 Asean tourism ministers signed an agreement on the establishment of the Regional Secretariat to support the implementation of Mutual Recognition Arrangement on Tourism Professional (MRA-TP.) The secretariat will be based in Jakarta and will commence operations this year.

Signed by Asean Tourism Ministers in November 2012, MRA-TP was developed to facilitate mobility of tourism professionals in the region.

Dr Ong Hong Peng, secretary-general of Malaysia’s Tourism and Culture Ministry, said the MRA-TP marked a significant milestone for tourism development in Asean.

“Moving forward, Malaysia, as chairman of the Asean Tourism Professional Monitoring Committee, will fully support and contribute towards the realisation of the objectives and targets of the AseanMRA-TP,” he said.

Push for telecom infrastructure

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USANEE MONGKOLPORN
THE NATION January 21, 2016 1:00 am

THE GOVERNMENT plans to set up a national infrastructure fund to finance its expansion of the telecom infrastructure network nationwide, said Information and Communications Technology Minister Uttama Savanayana.

The initiative follows the government’s plan to spend Bt20 billion to extend the national broadband network to all 74,000 villages nationwide and the construction of new international Internet gateways.

These networks, which will be owned by the ICT Ministry, will be put in the planned infrastructure fund, which will sell share units to investors.

The money from the fund will be for the further expansion of the telecom infrastructure. The fund will be the government’s vehicle for seeking money for its ICT-infrastructure expansion.

Uttama said the plan for setting up the fund would be clearer next quarter. He added that Prime Minister General Prayut Chan-o-cha had agreed in principle with the idea and had urged the ICT Ministry to start drawing up details of the plan.

“Apart from the government network, [the ICT Ministry] will invite all telecom operators to sell their network assets to the fund. The fund assets may access Bt100 billion for national telecom infrastructure fund which is the biggest fund value,” Uttama said.

Currently, there are two listed private telecom infrastructure funds in Thailand, the Digital Infrastructure Fund of True Corporation and the Jasmine Broadband Internet Infrastructure Fund of Jasmine International.

On Tuesday, the Cabinet approved the ICT Ministry’s plan to spend Bt20 billion to connect all 74,000 villages with wireless or fixed-line broadband. Currently, 40,000 villages have broadband access.

The ICT Ministry will set up a project management office led by permanent secretary Songporn Komolsuradej. She said this was the ministry’s biggest project, so it would have to handle it carefully.

The Bt20-billion budget has come out of the Bt80.78 billion in total upfront fees paid to the National Broadcasting and Telecommunications Commission by the winners of the 1,800-megahertz licence auction in November.

The ministry has asked TOT and CAT Telecom to be the main parties to install these networks under its project.

TOT has proposed to use its 2.3-gigahertz spectrum to provide broadband access under the project, while CAT has offered to expand it with its 850MHz spectrum for wireless service.

Confidence among CEOs sags as China’s slowdown spooks Davos

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WEF

January 20, 2016 3:36 pm

Swiss police officer take position during the World Economic Forum (WEF) annual meeting in Davos./AFP

Swiss police officer take position during the World Economic Forum (WEF) annual meeting in Davos./AFP

DAVOS, Switzerland – Confidence about near-term sales growth among chief executives around the world has fallen to its lowest level in six years as China’s economic engine slows and a slump in oil prices signals deep unease about the global outlook.

A survey of more than 1,400 CEOs released on Tuesday on the eve of the annual World Economic Forum in Davos paints a gloomy picture, as corporate leaders contemplate a rising tide of threats.

Despite the trillions of dollars of stimulus and ultra-easy money that central banks have pumped into the system since the2008 financial crash, just 27 percent of CEOs expect global economic growth to improve over the next 12 months, compared with 37 percent at the same time last year.

China, whose demand helped bring the world back from the brink last time around, is at the centre of concerns.

“You’ve got the second largest economy in the world that until now has seen very, very good growth rates when many others were really struggling, and now we are seeing a real slowdown,” said Dennis Nally, chairman of PricewaterhouseCoopers (PwC), which conducted the annual corporate health check.

“There are big concerns with regard to currency and the stock market, and there are real questions about what this means for China’s ability to transform its economy.”

The latest official data on Tuesday showed China’s growth in2015 was 6.9 percent, the lowest in a quarter of a century, adding to problems facing the government as it tries to transition from a centrally planned to a more market-oriented economy.

LITTLE CHEER

There is little to cheer CEOs elsewhere in the world.

“Europe and North America are doing okay but if you look at many emerging markets, there are real concerns,” Alex Molinaroli, chief executive of industrial group Johnson Controls, told Reuters.

Molinaroli, whose company has major operations in China, does not think the country’s economic fundamentals are as bad as the recent slump in the local stock market might suggest, but he worries about the ripples spreading from China.

“We’re seeing the impact on commodities, especially oil, and that is going to have major ramifications. The energy sector is what has got everybody as nervous as anything else,” he said.

Only 35 percent of CEOs in the PwC survey said they were “very confident” of growing their company’s revenue in the next12 months, down from 39 percent in 2015 and the lowest reading since 2010.

Confidence among U.S. bosses fell to 33 percent from 46percent in 2015, echoing similar declines in other Western countries including Germany and Britain.

India was a rare bright spot among major economies in bucking the downbeat mood, with confidence in short-term sales growth rising to 64 percent from 62 percent.

Swiss CEOs, meanwhile, took the prize as the most pessimistic in the world, with a confidence reading of just 16percent, down from 24 percent a year ago, after the “frankenshock” of January 2015, which saw the franc surge.

The PwC survey was conducted in the fourth quarter of 2015in 83 countries.

“You can imagine that if we had done it in the first weeks of January then the picture would have been even gloomier,” Nally said.

– Reuters

Terror threat and slowing growth the focus as Davos gets under way

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WEF

January 20, 2016 3:33 pm

DAVOS, Switzerland – A string of jihadist attacks and rising risks to the global economy overshadow the opening Wednesday of the annual gathering of the world’s rich and powerful in a snow-blanketed Swiss ski resort.

The heightened security threat was starkly in evidence in Davos itself, with police carrying machineguns patrolling the streets and concrete blocks placed in front of key venues.

Even as heads of state, billionaires and Hollywood megastar Leonardo DiCaprio were arriving, the International Monetary Fund (IMF) sounded the alarm Tuesday about perils in the major emerging market economies and lowered its outlook for global economic growth this year.

None of the dozens of sessions in the four-day conference are officially dedicated to it, but the slowdown in Chinese growth is darkening the mood.

China’s GDP grew at its slowest in a quarter of a century last year, figures showed Tuesday.

“The big event that I think has captured everyone’s attention is the developments in China and in particular the fact that growth is slowing,” IHS chief economist Nariman Behravesh told AFP.

The Chinese policymakers have “fumbled”, he said. “They have made some mistakes. And they have added to the uncertainty and the volatility by their behaviour.”

China’s problems will be discussed at Davos — “but they won’t say it in public, they will say it in the hallways,” Behravesh said, noting that “the public Davos is a little different than the private Davos.”

That is exactly why 2,500 movers and shakers make their annual pilgrimage here — to discuss the biggest issues openly and, when they wish, far from the prying eyes of their domestic audiences.

– Migrants in focus –

=====================

US Vice President Joe Biden is expected to be the key speaker on Wednesday, laying out his vision of the turbulent times that the global economy is facing.

Europe’s migrant crisis is also a theme running through this year’s Davos.

German Vice Chancellor Sigmar Gabriel and Swedish Prime Minister Stefan Loefven will take part in a debate Wednesday on how to integrate migrants, at a time when the fallout from the New Year’s Eve sex attacks in Cologne threaten Germany’s open-armed approach to admitting hundreds of thousands of people.

The Open Forum format of their debate allows the public to ask questions on the hottest issue in Europe at the moment.

Later in the week, far-left Greek Prime Minister Alexis Tsipras locks horns once again with his bete noire, German Finance Minister Wolfgang Schaeuble, in what promises to be an animated debate.

Argentine President Mauricio Macri will make his first appearance at Davos since his election in November, setting out his case for economic reform in a country with a turbulent recent past.

Afghan President Ashraf Ghani will seek understanding for his nation’s ongoing unrest and on Thursday, Nigerian President Muhammadu Buhari is expected to face questions about his handling of the Boko Haram insurgency in Africa’s most populous country.

– AFP

AEC Feed

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AEC FEED

Asia News Network January 20, 2016 1:00 am

Proton to develop new engines

Proton Holdings, a unit of DRB-Hicom, has allocated 600 million ringgit (Bt5 billion) to develop new car engines with engineering partners in Britain, as the Malaysian carmaker plots its return to European markets.

The new engines, which will meet tough European emission standards, are expected to be ready by the end of 2017.

“The cost of development of these new engines will be amortised within the volume that we are doing [manufacturing] over the life of the vehicles. This is a new technology, and obviously you will have to pay a little bit more for the new technology. We are trying to manage our costs to ensure we are competitive,” Proton Holdings chief executive officer Abdul Harith Abdullah said.

Proton, he said, plans to work on variable valve timing (VVT) and gasoline direct injection (GDI) engine technology.

The development of these engines will enable it to re-enter the European car market once again as these engines will comply with the Euro 6C emissions standards post-2020.

The engines will be developed in England in collaboration with Ricardo Plc, a global engineering consultancy in Shoreham-by-the-Sea.

The development of all six variants of the new engines will take 40 months to complete: the 1-litre three-cylinder VVT, 1.2-litre three-cylinder VVT, 1.3-litre four-cylinder GDI, 1.5-litre four-cylinder GDI, 1.3-litre four-cylinder turbocharged GDI and the 1.5-litre four-cylinder TGDI.

The engines will be able to work on the widely used unleaded petrol fuel grade, RON-95, the engineers said in a teleconference from Britain on Monday. – The Star

VNPost, Dai-ichi Life

Vietnam sign agreement

Vietnam Post Corporation (VNPost) and Dai-ichi Life Insurance Vietnam signed a long-term exclusive life-insurance agency agreement at a ceremony held on Monday in Hanoi.

Under the framework of the agreement, Dai-ichi Life Vietnam will be the exclusive business partner providing life-insurance products through VNPost’s network of post offices in 64 provinces all over Vietnam over the next 15 years.

Dai-ichi Life Vietnam will introduce VNPost products and postal services to its customers while VNPost will also promote the distribution of superior financial protection products offered by Dai-ichi Life Vietnam through its network of post offices.

At the same time, all customers who joined an insurance-policy scheme with Dai-ichi Life Vietnam will be able to pay their premiums through the collection services at more than 11,000 current service points of VNPost. “The cooperation is part of our strategy to diversify distribution channels of Dai-ichi Life Vietnam in efforts to create opportunities for everyone in Vietnam to gain access to the company’s life-insurance products and services, especially those living in rural and remote areas,” said Takashi Fujii, chairman of the member council of Dai-ichi Life Vietnam.

Do Ngoc Binh, chairman of the member council of VNPost, said sustainable development of life-insurance through the post-office network had become one among VNPost’s fundamental services, aiming to facilitate access of life-insurance schemes to people in remote areas, as well as ensuring education funds, wealth and increasing income for Vietnamese.

Also on Monday, Dai-ichi Life Insurance Vietnam officially received the amended licence allowing the company to increase its chartered capital from 1,141 billion dong (Bt1.86 billion) up to 1,477 billion dong.

– Viet Nam News

Employers in Singapore

plan to increase headcount

In spite of modest economic-growth projections, the employment outlook for Singapore is on an upward trajectory, recruitment firm Hudson found in its latest survey. The half-yearly survey of employers found that 41 per cent planned to increase headcount in this year and only 6 per cent to decrease it, giving a net effect of 35 per cent. The majority (53 per cent) are planning to maintain current headcount.

The net effect of intention to hire stands at 35.8 per cent, up from 32.1 per cent in June. Hudson calculated net effect by subtracting the percentage of employers planning to decrease headcount from the percentage of those planning to increase it.

“Employers are feeling confident enough to put hiring back on the agenda,” said Emmanuel White, regional director of Hudson Singapore.

“During 2015, the hiring outlook declined in light of concerns about the slowing Chinese economy and volatility in global financial markets. However, the regional economy has [proved] to be reasonably resilient, and while Singapore’s economic-growth forecast may be subdued, we are still seeing growth in certain industries, and employers are taking note.” Of those employers planning to add headcount, 69 per cent are doing so because of organisational growth, suggesting that 2016 will see an uptick in competition for talent.

– The Straits Times

Private sector sees ‘Pracha Rath’ policy as key to promoting sustainable growth

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PRACHA RATH

Petchanet Pratruangkrai

The Nation
January 20, 2016 1:00 am

The private sector sees the Pracha Rath (State of the People) project, which entails a joint government-private-public working-committee approach, as key to promoting sustainable economic growth, and a strategy that forthcoming governments should continue as a master plan for the country’s development.

Board of Trade chairman Isara Vongkusolkit, who is also chairman of the Public-Private Steering Committee on State of the People – the private-sector side of Pracha Rath – said yesterday that the panel, which had now established 12 working groups, would help ensure the Kingdom’s sustainable development and growth, as it covered all areas of development from education, farming and industry to trade, investment, spending and laws. He expects the policy to be continued by elected governments, as private businesses’ involvement would provide continuity and a working base for the country’s benefit.

To ensure the plan runs smoothly, some laws would need to be amended and a number of bodies established to drive the work of the 12 groups over the long term, he added.

Although the current military-installed administration only has about 18 months left in office, the 12 groups could be continued during subsequent governments, he stressed.

“The closer cooperation among all concerned sectors to brainstorm and find solutions will help promote growth for the Kingdom. Thailand needs a master plan like this [State of the People working group] so that we [government-private-public together] can move forward in one direction for the country’s development,” Isara explained.

The State of the People panel comprises seven driver groups and five supporting groups.

The former cover work on innovation and productivity, promotion of small and medium-sized enterprises and start-up businesses, tourism and MICE (meetings, incentives, conventions and exhibitions) promotion, exports and outward investment, industrial clusters, modern farming, and income creation and spending stimulation.

The five supporting committees cover investment attraction and infrastructure development, professional development, rural economic promotion and State of the People development, law amendment and the government’s work mechanism, and education and leadership development.

The over-arching target of the working plan is to narrow the income gap, develop human resources and increase competitiveness.

Isara said that now that all 12 groups had commenced work in their respective areas, information would be put together every three months and form the basis of proposals for action plans.

Under the working plan, if a particular strategy can be implemented quickly, it will progress immediately so that the outcome can be seen in the short term, while the committees will also draw up medium- and long-term strategies for promoting sustainable growth.

The public sector will be the centre for the overall project, he said, adding that unlike previous populist approaches, the potential benefits for the country would be weighted on a priority basis with a view to the successful adoption of each action plan.

Asked about the working process for the modern farming sector, for which Isara chairs the committee for the private-sector side, he said modern farming should emphasise the demand side, with farmers focused on producing quality crops that serve exactly what the market wants.

For instance, rice farmers would be encouraged to grow other economic crops such as sugar cane or vegetables, which would provide better income and give them a much greater degree of certainty in terms of buyers.

The working committee will also encourage each community to adopt modern technology with a view to reducing production and labour costs, develop packaging, and offer quality products to serve demand in each market segment.

It will also promote the allocation of local budgets for each village to spend on modern farming projects and the setting-up of community cooperatives for small farmers to get together to reduce production and logistics costs.

Isara added that with some of the action plan being implemented immediately, the outcome of the modern farming committee’s work should be seen within one year.

Bernanke soothes concerns over China

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CHINA’S ECONOMIC

Nophakhun Limsamarnphun

The Nation

Hong Kong January 20, 2016 1:00 am

Ben Bernanke

Ben Bernanke

Ben Bernanke, former chairman of the US Federal Reserve, told the Asian Financial Forum in Hong Kong yesterday that China’s economic turbulence would not whiplash the global economy.

Bernanke, who ran the Fed from 2006-14, was speaking at a special luncheon talk moderated by economist and Asia News Network columnist Andrew Sheng. He said China was transitioning from an export-led, investment-driven economy to a consumption-led, services-based economy, so it was natural that the economy was running a little sluggishly.

China’s gross domestic product – the second-largest at US$10 trillion – is projected to grow by 6.7 per cent this year, down from 6.9 per cent last year, as policymakers navigate the economy to new stages after recording high growth rates for the past three decades.

The World Bank has cited China’s slowdown as a factor for revising its global economic-growth forecast for 2016 to 2.9 per cent from more than 3 per cent.

For the Thai economy, the China factor, the collapse of oil prices and next round of US interest-rate increases are among key factors dictating this year’s growth, which is projected at 3-3.5 per cent, up from 2.8 per cent seen last year.

On the outlook for oil prices, which have dropped to $30 per barrel, the big change is that bargaining power has shifted from oil-producing countries to buyers as supplies become more abundant.

Iran has returned to the oil market, while the United States has become an oil producer, so these developments are holding down crude-oil prices because of a supply boost.

Postive for world economy

This is positive for the global economy and there are clear benefits for major economies, Bernanke said.

On the US interest-rate outlook, a stronger US economic performance will prompt the Fed to raise its rate more quickly.

This will lead to a stronger US dollar, but the upside is that there will be more exports to the US market.

The Fed was expected to raise its rate in September 2014, but the move was probably delayed by global uncertainties, so in hindsight such caution was appropriate, he said.

On the issue of “secular stagnation” as raised by former US treasury secretary Lawrence Summer, low productivity and population growth rates in developed economies such as the US and emerging ones such as China are a cause of concern, Bernanke said.

Structural reform and other policies are required to address the issues, since monetary policy is not a cure-all.

To maintain reasonable growth of its economy, China may not need a high savings rate – which is around 30 per cent of GDP, compared with the United States’ 5 per cent – but should use savings to boost household spending and domestic consumption to drive GDP, he said.

Concerning his legacy as Fed chairman, he is not sure if he would have done things differently, given the magnitude of the US financial crisis back in 2008-09. While monetary policy and quantitative easing were not perfect tools, they were the only option to save the US economy at the time.

As for the role of the US dollar in the global economy, the Special Drawing Rights of the International Monetary Fund are unlikely to replace it because there is simply no infrastructure to support its role as the global unit.

However, markets may move to using other international currencies, he said.

Tourism promotion eyed at meeting today

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TOURISM

The Nation January 20, 2016 1:00 am

The Finance Ministry will finalise measures to promote tourism as a prop for the domestic economy at a meeting of its agencies today.

Prasong Poontaneat, director-general of the Revenue Department, said yesterday that the department would propose the extension of tax deductions for travel-related spending for two more years.

The tax break had expired last year.

The aim is to encourage Thais to travel more inside the country, which could give the local economy a welcome boost. Spending of up to Bt15,000 per year on travel can be deducted from personal income taxes.

Kulit Sombatsiri, director-general of the Customs Department, said it would propose to increase the number of pick-up points for duty-free goods at the meeting, which will be chaired by Finance permanent secretary Somchai Sujjapongse.

Similar to duty-free shops, the pick-up centres can offer duty-free goods, but, depending on government policy, they may be located in other airports besides Don Mueang International and Suvarnabhumi, where King Power holds exclusive concessions from Airports of Thailand.

Those concessions end in four years.

The Fiscal Policy Office (FPO) has been assigned to review a proposal from the private sector for a reduction of duties on imported luxury goods in an effort to promote Thailand as a shopping centre for the region.

However, the impact on domestic operators must be taken into consideration, Kulit said.

Krisda Chinavicharana, director-general of the FPO, said the office would submit the proposal to the meeting as a measure to stimulate tourism and domestic spending.

Bt15 billion to be sought to boost high-speed Internet network

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SOMLUCK SRIMALEE
THE NATION January 19, 2016 1:00 am

 

THE Information and Communications Technology Ministry will propose to the Cabinet today that it approve a budget of Bt15 billion to develop high-speed broadband Internet across the country, while a further Bt5 billion will be spent to develop an international Internet gateway.

The pilot broadband project will be launched in Phuket, Deputy Prime Minister Somkid Jatusripitak said at the ‘Mega Dive Thailand Competitiveness’ seminar yesterday.

The broadband move was a part of efforts to boost Thailand’s competitiveness, Somkid said, by focusing on four areas – infrastructure, innovation, education, and research and development.

He said investment on high-speed broadband Internet was the first priority to undertake, while investment in national logistics – the East-West and North-South transport systems – would also start this year.

The Ministry of Science and Technology would also set up research and development projects to that they amount to 1 per cent of gross domestic product (GDP) next year – up from 0.5 per cent this fiscal year. This was a part of boost innovative products and becoming an innovative nation.

“We also reform the education budget from a set up per head so that if focuses on education performance,” he said.

All economic ministries such as Commerce, Industry and Finance had to reform so that they focus on how to drive the economy and help balance people’s incomes, especially to lift incomes for people in agriculture so it matches with people in the industrial sector.

“All of this will dive the country’s competitiveness has improve from the ranks by IMD World Competitiveness Center,” he said.

Thailand ranks the30th from the World Competitiveness Scoreboard 2015 or dropped from the 29 thy in the year 2014. This ranks by IMD World Competitiveness Center.

All of this would boost the country’s competitiveness and lift its ranking by IMD World Competitiveness Centre, he said.

Thailand ranked 30th on the World Competitiveness Scoreboard 2015 and dropped from 29th in the year 2014.

This ranking was by IMD World Competitiveness Centre.

 

NBTC to hear complaints today from digital TV broadcasters

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Watchiranont Thongtep
The Nation January 19, 2016 1:00 am

The broadcasting regulator will today meet with stakeholders in terrestrial-based digital television to hear their complaints and ideas, including the desire of some operators to exit from the licence-based regime.

Takorn Tantasith, secretary-general of the National Broadcasting and Telecommunications Commission (NBTC), said his administration had invited all 24 holders of digital-TV licences and four providers of digital-TV transmission service to attend the meeting. Also invited were representatives of the Finance Ministry, the Office of the Attorney-General, the Council of State and the banks that guaranteed the 24 operators.

He said this meeting aimed to seek remedies for troubled broadcasters including Thai TV Co, which has said it wants to leave the digital-TV business.

Speaking as a representative of digital-TV broadcasters, Kematat Paladesh, president of Bangkok Media and Broadcasting, the operator of PPTV channel, said the group still wanted to receive remedies from the NBTC.

“We will raise all relevant issues in the meeting at the NBTC tomorrow. And we hope all our requests will receive a good response,” he said.

In another development, the Central Administrative Court invited executives from seven digital terrestrial TV channels and their legal representatives to hear a second round of testimony after those media powerhouses last year sued the broadcasting committee of the NBTC but no conclusion had been reached.

Nation TV, Now 26, One, PPTV, Thairath TV, GMM 25 and Bright TV had petitioned the court for Bt12.55 billion in compensation with interest of 7.5 per cent per annum, in separate cases against the NBTC for alleged inattention and delayed execution of the transition from analog to digital technology.

Nation Multimedia Grouup, which operates two terrestrial-based digital channels, the Nation TV news station and Now 26 variety channel, appealed to the court for Bt2.96 billion in compensation, comprising Bt1.958 billion for Now 26 and Bt1.003 billion for Nation TV.

Meanwhile, the remaining compensation of Bt9.55 billion was urged by five other major TV operators – One, PPTV, Thairath TV, GMM 25 and Bright TV. They also sought additional compensation of Bt21 million per day.

Apart from the compensation, those digital TV broadcasters also called for both financial and non-financial support for the whole industry, such as postponement of the third instalment of upfront licence fees scheduled for May 25, and assistance with the cost of cable and satellite TV transmission and new TV audience ratings.

They also submitted a proposal to reduce the transmission-network leasing fees for broadcasters.