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Bangchak to expand Inthanin coffee shop branches in Laos

NationalJan 11. 2021

By The Nation

Bangchak plans to take its Inthanin coffee shops to foreign countries, aiming to expand in Laos and targeting 1,200 shops in five years.

Somchai Techavanich, chief marketing officer and vice president of marketing at Bangchak Corporation Plc, recently revealed that Bangchak plans more Inthanin coffee shops overseas, especially in Laos, where there is currently only one branch operating as Master Franchise. He said there is an opportunity to expand to 3-5 branches but the market and consumer behaviour needed to be assessed, including the pandemic situation.

In Cambodia, there are currently seven Inthanin coffee shops, which have also been affected by the Covid-19 outbreak, especially those located in department stores, which have been temporarily closed. Additional marketing activities would have to wait for the Covid-19 situation to ease first, he said.

In early 2018, the Master Franchise Inthanin Coffee Shop agreement in Cambodia and Laos was signed by Bangchak Retail Co Ltd and RCG Retail (Cambodia) Co Ltd. Previously, Bangchak had set a goal to open more than 100 Inthanin coffee shops in both countries.

The Inthanin Coffee business in Thailand has adapted well to market conditions, especially during the Covid-19 epidemic in March-April 2020 when it turned to selling more through online channel, making it possible to maintain sales, said Somchai.

Bangchak aims to expand Inthanin coffee to 1,200 branches within five years (2021-25). At the end of 2020, there were 690 branches. In the future, Somchai also intended to study opportunities to enter the upstream coffee business when it can expand to 1,000 Inthanin coffee shops.

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Baht weakens on concerns about economy, Covid-19 crisis

NationalJan 11. 2021

By THE NATION

The baht opened at 30.12 to the US dollar on Monday, weakening from 30.07 at close on Friday.

The Thai currency is likely to move between 30 and 30.20 on Monday and 29.90 and 30.30 this week, said Jitipol Puksamatanan, the head of the “Easy Invest” team at SCB Securities.

He explained that the baht last week had been weaker than other Asian currencies, due to investors’ concerns about the Thai economy and the Covid-19 situation in the country.

Meanwhile, more bonds were sold, and some foreign investors purchased Thai stocks. However, their purchases would not strengthen the baht, he said, adding that investors now see the US market as more interesting than Asia.

The team leader suggested that investors should mainly monitor the direction of stocks. He said that capital would possibly move to Asian markets again, in case the US market fluctuates or the dollar weakens.

He forecast that this week the market will focus on US political issues, as well as the manufacture and distribution of the Covid-19 vaccines.

Jitipol also predicted that the US government would pump another $750 billion into the market to stimulate its economy in this quarter. Besides, he added that some observers had forecast that the US would increase its key interest rate.

In the financial market, the dollar strengthened by 0.4 per cent, compared to other main currencies, as investors had been more careful after the US political situation became volatile again. At the same time, the US Ten-Year Treasury reached 1.12 per cent.

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21 arrested in raids on suspected gambling dens in Bangkok

NationalJan 11. 2021

By THE NATION

Twenty-one people have been arrested on charges of gambling following raids on five suspected venues in Bangkok.

“On January 8-9, officials investigated five locations in Bangkok suspected of running gambling operations,” Pol Maj-General Jiraphop Phuridet, deputy chief of the Central Investigation Bureau (CIB), said on Sunday.

“This operation is a part of the National Police chief’s policy to eliminate gambling dens nationwide to reduce the risk of Covid-19 spreading among the public.”

The five suspected gambling dens that were raided are:

1. An unnamed car care centre in Soi Sirithorn 1 in Bang Plad district. Officials arrested four suspects who were playing a card game and confiscated a deck of cards and some cash.

2. A building on Nakhon Chaisri Road in Dusit district. Officials found several gambling equipment including cards, dice, plastic chips, and cash but no gamblers.

3. A house near Tesco Lotus Rama I in Pathumwan district. Officials arrested four suspects who were allegedly playing high-low bets via mobile application. The mobile telephones and some cash were confiscated.

4. A rental room in Khlong Kwang community in Yannawa district. Officials arrested four suspects for allegedly playing a card game and confiscated a deck of cards and some cash.

5. A house in Soi Rimthangrotfai 3 in Thonburi district. Officials have arrested nine suspects who were playing high-low bets via mobile application and confiscated mobile telephones and some cash.

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Provident fund contributions can be suspended or postponed until June

NationalJan 11. 2021

By THE NATION

The Royal Gazette website on Sunday published an announcement from the Ministry of Finance allowing employees and employers to suspend or postpone contributing to the provident fund due to financial crisis, public disasters or events that affect the economic situation.

“The Ministry of Finance had allowed employees and employers to suspend or postpone their provident fund contributions due to the Covid-19 outbreak in Thailand since April 29 until December 31, 2020,” said the announcement. “However, since the outbreak is still affecting the economy, the ministry therefore will allow employees and employers to suspend or postpone their provident fund contribution from January until end of June 2021, without affecting their provident fund status.”

The announcement added that employees can continue contributing to the fund on their part even if their employers have decided to suspend or postpone their provident fund contributions.

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SCB temporarily closes some branches in 8 provinces due to Covid-19

NationalJan 11. 2021

By THE NATIONSiam Commercial Bank Plc (SCB) on Sunday said that it would temporarily close some branches in eight provinces effective immediately to avoid risk from the Covid-19 outbreak.

The branches are located in Bangkok, Samut Sakhon, Rayong, Chonburi, Ayutthaya, Pathum Thani, Samut Prakarn and Chachoengsao

The branches that will be closed are:

Bangkok:

– Tesco Lotus Jaran Sanitwong

– Big C Bang Bon

– N Mark Plaza Bang Kapi

– The Platinum Fashion Mall

Samut Sakhon:

– Central Plaza Mahachai

– Tesco Lotus Krathumbaen

– Tesco Lotus Ban Phaew

– Tesco Lotus Samut Sakhon

– Big C Mahachai

Rayong:

– Passion Rayong

Chonburi:

– Terminal 21 Pattaya

Ayutthaya:

– Ayutthaya Park

Pathum Thani:

– Future Park Rangsit

Samut Prakarn:

– Imperial World Samrong 2

Chachoengsao:

– Robinson Chachoengsao

Customers in affected areas have been advised to use ATM machines or the SCB Easy mobile application for their transactions. For more information, contact call centre on 02-777-7777 or Facebook SCB Thailand.

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Cool and windy in upper Thailand, strong wind waves forecast for southern coast

NationalJan 11. 2021

By THE NATION

The Thailand Meteorological Department said on Monday that the high-pressure system from China covers upper Thailand, resulting in cool to cold weather and strong winds.

Temperature is expected to fall by 2-4 degrees Celsius. Mountaintops are cold to very cold with frost in some areas.

Meanwhile, the strong northeast monsoon prevailing over the Gulf and the South triggers strong wind waves in the Gulf up to 2-4 metres high. All ships should proceed with caution and small boats should keep ashore until January 13, the department said.

The weather forecast for the next 24 hours:

North: Cool to cold weather; minimum temperature 14-18 degrees Celsius, maximum 28-31°C; temperature on hilltops is likely to drop to 6-12°C with frost in some areas.

Northeast: Cold weather with strong winds; minimum temperature 8-14°C, maximum 23-28°C; temperature on hilltops is likely to drop to 4-11°C.

Central: Cool weather with strong winds; minimum temperature 15-18°C, maximum 29-30°C.

East: Cool weather with strong winds; minimum temperature 15-20°C, maximum 28-31°C; waves two metres high and over two metres offshore.

South (east coast): Mostly cloudy with thundershowers in 40 per cent of the areas; minimum temperature 20-24°C, maximum 29-30°C; waves 2-4 metres high and over four metres during thundershowers.

South (west coast): Mostly cloudy with thundershowers in 20 per cent of the areas; minimum temperature 22-24°C, maximum 31-34°C; waves 1-2 metres high and two metres offshore.

Bangkok and surrounding areas: Cool weather with strong winds; minimum temperature 18-19°C, maximum 29-30°C.

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Market expert advises risk-on approach to Thai stocks

NationalJan 11. 2021

By THE NATION

A Krungthai Bank market analyst says news that US Democrats have taken control of the Senate should be a boon for Thai investors.

Poon Panichpibool noted the Democratic Party now controls both houses for the first time in six years, a development he said should spur a risk-on approach for investors in Thai stocks as the year gets underway.

The market now expected a smoother recovery for the US economy, with Democrat president-elect Joe Biden facing no major obstacles to his stimulus programme.

Poon also noted investor interest in cryptocurrencies that saw Bitcoin smash through the $40,000 barrier on Friday, after rising more than 32 per cent in the first week of 2021. Investors were piling into crypto seeking higher returns amid the low-interest-rate environment, he explained.

The analyst advised investors to buy, despite high stock prices on the Thai exchange. He forecast Thai shares had room to rise at least 10 per cent this year, adding the Stock Exchange of Thailand (SET) index could reach 1,650 points.
Cyclical and tech stocks were particularly good value, said Poon.

However, investors should keep a close eye on economic recovery and the virus crisis across the world, as well as moves by central banks.

He also advised that a “buy and hold” strategy would not be profitable in 2021 due to price volatility. He suggested that investors instead adapt their portfolios according to changing market conditions.

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Finance Ministry working on handout scheme for those hit hard by second Covid-19 wave

NationalJan 11. 2021

By THE NATION

The Ministry of Finance is planning to propose to the Cabinet a handout scheme tailored for specific groups who have been affected by the new wave of Covid-19, a source revealed.

“After the nationwide lockdown last year, the ministry had provided Bt5,000 handout per month for three months to about 10 million farmers and 14 million self-employed people,” said the source. “However, since there will be no nationwide lockdown during the new wave, the ministry estimated that the number of affected people would be smaller and limited to only specific groups.”

The source added that up to four measures are now being studied. The most favoured option is an economic stimulus campaign and not cash handouts. “The “Kon La Khreung” (Let’s Go Halves) co-payment shopping scheme has more than 12 million registered users who have spent Bt2.73 billion while the government has helped contribute another Bt2.61 billion to the economy,” the source added.

Under the scheme, registered users get 50 per cent discount on their daily purchase up to Bt150 per day, capped at Bt3,000 per month in the first phase and Bt3,500 per month in the second phase.

Meanwhile, Patricia Mongkhonvanit, director-general at the Public Debt Management Office, has said that the government still had Bt470 billion leftover from the Bt1-trillion loan that it had got earlier to remedy the fallout of Covid-19 outbreak.

“The Bt1-trillion loan was divided into three parts: Bt45 billion for public health, Bt550 billion to help affected people, and Bt400 billion for economic stimulus,” she said. “The Bt550-billion portion now has Bt470 billion left after some was used as Bt5,000 handout for three months.”

The office also estimated that the Bt1-trillion loan will drive the country’s public debt at the end of 2021 fiscal year to 57 per cent of gross domestic product, compared to 50.46 per cent of GDP as of November 2020.

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Govt urged to impose restrictions on people’s movement in Covid-19-hit provinces

NationalJan 10. 2021Chulalongkorn University professor of medicine Dr Thira Woratanarat

By The Nation

Chulalongkorn University professor of medicine Dr Thira Woratanarat has suggested that the government impose restrictions on people moving around within the province as well as inter-provincial travel where new Covid-19 cases have been found.

His comment comes as Thailand reports another day of more than 100 cases in the second wave of Covid-19, starting in December.

In a Facebook post on Sunday, Thira said that the Thai government should tell people to stay home and lockdown should be from two to four weeks.

The government’s response to the second round of the outbreak has demonstrated a lack of unity, he said, referring to authorities changing restriction measures. 

“When the government keeps changing the restriction measures or makes a u-turn on decisions, it does not boost confidence among people,’’ he said.

The government should not see the task of combating the virus as a budget burden, and the government should not issue threats about not taking care of those illegally entering the country or those who engage in illegal gambling, he said.

Such threats could lead to the virus spreading more, as the infected people may go underground, he warned.

The government needs to help everyone not only on humanitarian basis but also to contain the infections.

Everyone must wear face mask, he added.

Cumulative cases worldwide rose to almost 90 million on Sunday and the number of total deaths rose to 1.9 million.

Among Asean countries, Myanmar reported 566 new cases on Saturday, with 14 new fatalities. Cumulative cases in Myanmar reached 130,049 and the death toll rose to 2,826, or 2.2 per cent fatality rate.

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Dam water floods Pattani, situation to persist for five days

NationalJan 10. 2021

By The Nation

Key econonic areas in Pattani province came to a standstill after water released from the Bang Lang Dam in Yala, inundated low-lying areas.

Vehicles struggled to move while the authorities deployed a large water pump to accelerate the drainage of water into Pattani River, which is close to overflowing the bank.

Mahama-Piskree Wamae, director of Disaster Disaster Prevention and Mitigation Regional Centre 12 Songkhla, which oversees the flood situation in four provinces — Songkhla, Yala, Narathiwat and Pattani — revealed on Sunday that the flood situation in Songkhla, Yala and Narathiwat provinces had already been resolved. The flooding, however, persists in some lowland areas.

However, Pattani needs to be vigilant as the Bang Lang Dam had to accelerate the discharge of water, causing flooding in seven districts, namely Muang Pattani, Mae Lan, Saiburi, Nong Chik, Kapo, Mai Kaen and Yarang. A total of 16 subdistricts, 101 villages, and nearly 10,000 people were affected. He expects the water level to rise further and it will take about five days for the situation to return to normal. The flooding has been caused by the heaviest rainfall in seven years, the director said.