The baht opened at 34.38 to the US dollar on Thursday, after surging to close at 34.31 on Wednesday.
The currency is expected to move between 34.30 and 34.45 on Tuesday, Krungthai Bank market strategist Poon Panichpibool predicted.
He said the risk-averse market coupled with the Covid-19 situation in China could add more downward pressure on the baht.
The baht was also pressured by dividend transactions and gold purchases as investors bought more of the precious metal as prices headed down.
Poon expected the Thai currency to fluctuate and likely test the resistance level of 34.40 to 34.50. However, it might be supported by foreign investors purchasing Thai assets this week. If they do not offload a large amount of Thai assets, the baht will not weaken much, Poon said.
He advised businesses to use hedging tools such as options to manage risks in the highly volatile currency market.
The Commerce Ministry asked operators to refrain from increasing product prices so that the burden won’t fall on consumers.
Commerce Ministry Jurin Laksanawisit said on Tuesday that guidelines to control product prices must take into consideration two factors – benefits to farmers and benefits to consumers.
However, the two factors contradict each other because farmers want palm prices to be as high as possible while consumers want the palm oil price to be low.
Therefore, he said, the ministry must “manage a balance” so both sides won’t be hit hard. Meanwhile, operators must also be able to conduct business profitably.
Jurin said the palm price is currently 9 to 10 baht per kg while the ministry should push for a 700 per cent increase in exports to achieve a better price. But consumers would have to pay a higher price if the cost increases, he noted.
“The ministry must find a way for operators to be able to continue their business with not too high a profit so consumers will not have to shoulder too much of a burden from the increasing palm oil price,” he said.
“One way is to reduce profit and the cost-retail price proportion, so the Commerce Ministry has come out with a price structure.”
The ministry is therefore asking operators not to charge higher than the regulated price.
The oil palm price per bottle on Monday was 62-65 baht or 64 per bottle on average. The price according to the structure is not more than 68-69 baht.
As for the increasing animal feed costs, he instructed the ministry’s permanent secretary to meet with animal feed farmers, livestock farmers and operators as they are yet to find a conclusion.
Animal feed farmers want the corn price to be as high as possible, while livestock farmers want the price to be low so pork, chicken and eggs don’t cost more.
As for the oil price, the National Energy Policy Committee is considering measures so the impact on the public would be as low as possible.
Meanwhile, the ministry on a case-by-case basis may allow a price increase of some of the 18 products and services it had put a price cap on, so that some manufacturing processes do not come to a halt.
The Energy Ministry has been instructed to explore more ways in which the diesel price can be subsidised, Energy Minister Supattanapong Punmeechaow announced on Tuesday.
His statement came after the government said it would provide a 50 per cent subsidy on the diesel price exceeding 30 baht per litre from May 1. The present policy of capping the price at 30 baht per litre ends on April 30.
Supattanapong expected the oil fund to shell out up to 6 billion baht for the 50 per cent subsidy.
For example, if the diesel price is 40 baht per litre, the oil fund will pay 50 per cent of the extra 10 baht, so the price of each litre will be 35 baht at the pump, he explained.
Supattanapong said the Energy Ministry’s permanent secretary must check what the real diesel price is and how to reduce this price.
The permanent secretary would come up with a higher subsidy to reduce the diesel price to between 31 and 33 baht per litre, so it will not cause an impact on businesses, transport and motorists, he said.
“We will need to evaluate the situation in the next three months to get a clearer picture,” the minister pointed out.
“In the current situation, we have to check how we can allocate money, will this budget be enough and how the economy can recover,” he added.
(PR News) Plan your next beach vacation at Sheraton Hua Hin Resort and Spa. The 5-star beachfront resort is conveniently located on the seafront between the traditional seaside towns of Hua Hin and Cha-am, only 2.5 hours from Bangkok.
Enjoy this summer with your loved ones and get ready to indulge in your favorite dishes at Luna restaurant in a seaside setting or unwind with a combination of aromatic massages at Shine Spa, a full-service spa. Or stay in shape with Sheraton Fitness, which has a full range of equipment. The stream room and sauna are both open every day.
Revel in the sea’s atmosphere, relax and unwind with a Sheraton Signature Bed in a spacious guest room of 49 square meters, separated bathtubs, and a shower room that makes you feel more at ease. Garden Room, with a beautiful view of the garden surrounding the resort, Lagoon View, a special guest room with a panoramic view of the lagoon style swimming pool, or Lagoon Access, the most popular room type, with easy access to the swimming pool from the balcony to enhance your experience with the good vibes surrounding the resort.
Make your own reservation now until 30 June 2022 and enjoy your stay by 30 September 2022.
Special room rates start at THB 3,230-NET per room per night and include the following perks:
– Enjoy daily breakfast at a special price of THB 350-NET per person per meal (originally THB 750) – FREE daily resort credit of THB 500-NET when booking a Garden Room, THB 800-NET when booking a Lagoon View Room, or THB 1,000-NET when booking a Lagoon Access Room.
*Resort credit can only be used to pay for incidentals during your stay and cannot be saved for future reservations or combined with another promotion or discount.
(PR News) From April 29 to May 16, guests are invited to chill out on the pure shores of Hua Hin, discover HAY’s cutting-edge collections and enjoy a series of upbeat events, guest mixologists, DJ parties and alfresco dinners.
The Standard, Hua Hin, Thailand’s newest and most stylish resort where chic beach vibes meet mid-century style, constantly strives to showcase the world’s most cutting-edge concepts and contemporary designs. In its latest creative collaboration, this avant-garde resort will join forces with HAY, the innovative Scandinavian furniture company, and NORSE Republics, Thailand’s largest Nordic design distributor, to exclusively reveal its iconic Palissade Park and Balcony Collections to lifestyle-conscious guests from all around the world.
“HAY x The Standard, Hua Hin” is much more than just a product exhibition however; running from April 29 to May 16, 2022, this will be a fully immersive, interactive outdoor experience that brings people together and provokes conversation in a meaningful way.
Guests will be invited to “Say HAY” on April 29 with an insightful “Standard Talks” session in the main courtyard, featuring moderator Rewat Chumnarn, former Editor-in-Chief of Wallpaper Thailand, and guest speakers Veekrit Palarit, Founder & Managing Director of NORSE Republics, and Jongkol Palarit, Fashion Director of Vogue Thailand.
This will be followed by a “Music & Mixology” cocktail party at the Lido Bar, The Standard’s poolside lounge, where Bangkok-based DJ Rhunrun will spin upbeat tunes, including hip hop, garage, electronica and dance beats. As day turns to night and the sun sets over Hua Hin, guests can sit back and sip cool cocktails, handcrafted by our expert mixologist. Two-hour “Designed to Dine” aperitivo evenings will be held on April 29 & 30 and May 7 & 14, priced at THB 1,500 net per person, and guests can dine in style on the Top Pool Lawn.
Every weekend at The Standard, Hua Hin will be enlivened by “Music & Mixology” events featuring a guest DJ, resident DJ and guest mixologist at the Lido Bar, which overlooks the soft sandy shore, and special surprise moments will be hosted every weekend afternoon at the main courtyard.
Throughout all 18 days, guests will able to experience HAY’s new Palissade Park and Balcony Collections. Conceived by Ronan & Erwan Bouroullec, the Paris-based design brothers, the Palissade Park Collection features outdoor benches and other flexible seating that is defined by its symmetry and simplicity. The Balcony Collection meanwhile, has also been crafted by the Bouroullec Brothers and comprises an assortment of chairs, tables and benches with laser-welded holes to soften the aesthetic, provide extra stability and deliver a distinctive appearance.
The “HAY x The Standard, Hua Hin” can be enjoyed by in-house guests, outside visitors and local residents alike. For those who wish to combine the experience with a stay at The Standard, Hua Hin, a special room package has been unveiled which includes accommodation and an aperitivo evening by the pool for two people, plus invitations to The Standard’s social events and discussions, including Standard Talks, surprise moments in the park, DJs sets and cocktail parties. For more information, please visit www.standardhotels.com/hua-hin/specials/hit-the-hay.
“At The Standard, we’re on a mission to showcase the finest contemporary art and culture from around the world. Scandinavia has grown a reputation as being the home of sharp, smart furniture design, and HAY and NORSE Republics are at the forefront of this scene. Our ‘HAY x The Standard, Hua Hin’ tie-up will not only give our guests the chance to see HAY’s latest outdoor collections; it will let them interact with the company and discover what sets them apart, while also meeting like-minded people in a stunning seafront setting,” said Mai Vejjajiva Timblick, Chief Creative & Culture Officer for Standard Asia.
Founded by Mette and Rolf Hay, HAY works with top designers from all over the world to produce high-quality furniture and make it accessible to a wider audience. Each collection derives inspiration from three sources: art, architecture and fashion. The company aims to keep its finger on the pulse and reflect the needs of modern life, which blurs the boundaries between personal and professional space.
“We believe that good design makes people move, makes them feel. It’s not just a pretty look but a fully interactive, multi-sensoryuser experience. At NORSE Republics, we see ourselves not only as a leading Scandinavian home furnishing provider, but also as a creator of meaningful moments for our community. We want to embrace the power of good design and make it accessible to a larger audience” said Veekrit Palarit, Founder & Managing Director at NORSE Republics.
“With the pandemic coming to an end, the outdoor life is becoming more significant. There is no place like The Standard, Hua Hin; it is an utterly chic weekend destination that bringstogether like-minded guests from all over the world. With the splash of HAY’s newest designs, our ‘HAY x The Standard, Hua Hin’ collaboration will be a wholly unique experience,” he added.
Newly-opened in December 2021, The Standard, Hua Hin brings a cool Miami vibe to Thailand’s golden gulf coast. With 199 rooms, suites and villas, the mid-century style Lido pool and bar, a beachfront Thai izakaya restaurant and juice café, this chic seafront hotel is a haven for curious global explorers.
The Standard hotels are present in the most desirable of destinations, from Miami Beach to the Maldives, London to New York, now Hua Hin and soon Ibiza and Bangkok.
(PR News) AP Thailand, the country’s leading property developer, is in its 31st year of operation with ‘EMPOWER LIVING’ as the main vision guiding its existence, said Sappasit Foongfaungchaveng, Senior Director of Brand Strategy, AP (Thailand) Public Co., Ltd. on Monday (April 25).
“To reinforce AP Thailand’s business commitment, the company has announced a brand promise under the tagline ‘Cheevit Dee Dee Tee Lueak Eng Dai’ which represents its long-term vision as a company that exists to create and provide the support that enables people to live and enjoy life on their terms through every aspect of living right now and in the future,” he said.
“For the next step of brand building for AP with its vision to EMPOWER LIVING, I think a good brand must have a clear social standpoint. It has to have the courage to say something new, one that gives society the right answer, that helps society in the right context at a time when society is expecting something, like waiting for the pandemic to be over or for all the problems to go away or the happiness of old to return,” he added.
“The duty of a good brand should create value and some meaning for life rather than just looking to sell the goods. That’s how our new brand promise originated under the tagline ‘Cheevit Dee Dee Tee Lueak Eng Dai’. It’s great life in a new context of 2022. It’s great life our customers choose for themselves. Our job is to offer things for our customers to choose what they want on their own terms,” said Sappasit.
It is the first time in ten years that AP has officially announced its brand promise.
‘Cheevit Dee Dee Tee Lueak Eng Dai’ will be embedded in the brand’s communication of its position. In addition to its expectation for consumers to be aware and understand the meaning of its EMPOWER LIVING vision better, the company also wants AP to be remembered as the brand that empowers everyone to live and enjoy life with the things they choose on their terms. The bigger goal is to ensure that AP becomes No. 1 in the hearts and minds of consumers for the long term.
The strategy that will enables AP to achieve that goal consists of three components.
1. HAPPINESS HAS NO BLUEPRINTS. AP responds to all life aspirations. It is more than a home builder. What it does is create a new layout of life with a conviction that happiness has no blueprints and everyone can choose the happiness of their choice through 16 real estate brands in the AP group both single deatched homes, townhomes and condominiums that covers all segments as much as possible.
2. INNOVATION FROM YOU FOR YOU. The main process in creating design innovation is by encouraging all employees to pursue DESIGN THINKING that attaches importance to finding unmet needs of customers and understand them through Empathy Design Approach in order to develop the right products and services that meet the aspirations or hidden desires of our diverse customers.
3. COMMUNITY OF THE FUTURE. By being a part that helps to empower society, which is more than delivering happiness and good life as developer to AP residents, the company has built a good community and in the process has helped society better through a wide range of social campaigns it has carried out continually e.g. AP Unusual Football Field, the original model of football fields in unconventional shapes in the Klong Toey community which was awarded the Grand Prix Prize at Cannes Festival as well as was recognised by TIME magazine as one of the 25 inventions of the year.
“I think happiness that society chooses for you, no matter how perfect is not as full or complete as what you choose for yourself. Society may view your choice of happiness as incomplete or imperfect, but if you are the one that chooses it, it’s full and complete happiness for you. What we want to communicate is the important happiness of living is the one you have to choose for yourself,” Sappsit added.
AP Thailand is ready to be the best choice for everyone with its portfolio of single deatched homes, condominiums and townhomes under 16 brands and plans for nationwide outreach with readily available 175 projects nationwide worth over THB136,000 million.
The baht opened at 34.28 to the US dollar on Wednesday, the highest level in five years, after surging to close at 34.25 on Tuesday.
The currency is expected to move between 34.20 and 34.40 on Tuesday, Krungthai Bank market strategist Poon Panichpibool said.
Poon said the risk-averse market coupled with the Covid-19 situation in China could add more downward pressure on the baht.
The Thai currency has weakened past the expected resistance level, with both exporters and importers unsure of when to carry out transactions, so it might be volatile and weaken to test the new resistance level of 34.40, he said.
Meanwhile, gold purchases are rising as investors want to possess safe assets. This is adding pressure to the baht.
Poon advised businesses to use hedging tools such as options to manage risks in the present highly volatile currency market.
A group of Thai and Chinese experts, academics and entrepreneurs made a strong case for enhancing mutual support and collaboration to improve the fintech industry and help sustain growth in the digital economy era.
Ben Shenglin, dean of Zhejiang University International Business School, said during his opening speech that fintech is playing an increasingly major role in the current economy. In these few years, both government and private sectors from China and Thailand have progressively built the system and infrastructure needed for the development of the digital economy. Fintech is one of those efforts.
However, to sustain the growth of fintech, there is more work to be done to improve the overall ecosystem including technology, innovation, security and regulation. And one of the key success factors is more deep collaboration and data sharing between countries, he said.
“The aim of today’s forum is to discuss and find ways where both China and Thailand can work together to develop not only for the two countries but also for the whole region,” Ben Shenglin said.
Yang Hong, a former People’s Bank of China official, said Beijing has made fintech one of the pillars of the national development plan for the next three years. Although many things in the industry have improved, there are new challenges to handle, especially in security, privacy and regulation aspects.
Michael Sung, a professor at Zhejiang University International Business School, pointed out that working together means the chance to discover proper solutions. Both China and Thailand have to come up with high-quality technology, advanced affordable innovation, transparent regulation and a fair, accessible ecosystem for all.
Chonladet Khemarattana, president of Thai Fintech Association, accepted that the Thai fintech industry is a few steps behind when compared with China. The pain point is that the country’s digital development is only concentrated in urban areas and is with the big operators more than the smaller entrepreneurs. And fintech appears to be a key solution to that obstacle.
He added that apart from international cooperation and support, Thailand now needed to educate people about financial and digital literacy. Thai citizens have to be well-prepared for fintech and digital technology.
Archari Suppiroj, director of Fintech Department at the Bank of Thailand (BOT), said that in the past few years the government has focused on strengthening digital infrastructure along with educating people in order to add more players to help support the country’s competitiveness in the digital economy.
As for the cooperation with China, Archari said that BOT has some plans to launch a pilot testing programme of Central Bank Digital Currency (CBDC) in which China, as one of the world’s leading players in CBDC development and application, can help Thailand with some concrete operations.
After running a business in Thailand for many years, Yunna Wang, country leader in Thailand at Lianlian International, said Thai fintech has improved a lot but there are more areas needing improvement, particularly in the stability of infrastructure, data digitalisation and security aspect.
Pawee Jenweeranon, visiting scholar of ZIBS & Representative from the Faculty of Law, Thammasat University, added that improving fintech would help Thailand break out from a middle-income nation to a high-income country.
“We require an advanced ecosystem of digital, diffusion of technology, great foundation in infrastructure, supportive measures for the digital economy and accessible training programme for talents,” Pawee said.
Commerce Minister Jurin Laksanawist was upbeat about the country’s export growth, saying the 19.5 per cent year-on-year surge in March was the highest in 30 years.
Jurin, who also doubles as a deputy PM, told the press on Tuesday that exports in March were worth US$28.86 million or about 922.313 million baht. This marked a 19.5 per cent growth compared to the same month last year and was the biggest expansion since 1991.
At the end of the first quarter, Thailand’s export value stood at $73.6 million or 2.4 billion baht, which was 14.9 per cent higher compared to the same period last year.
The minister credited the growth to cooperation between the Commerce Ministry and the private sector as well as the normalisation of Thailand’s ties with Saudi Arabia.
The top 10 markets with the highest exports in March were:
PTG has joined hands with the Department of Interior Trade (DIT) for a campaign to support farmers.
PTG has joined hands with the Department of Interior Trade (DIT) for a campaign to support farmers. Customers who fill up with 300 baht of fuel or 100 baht of LPG will get a pack of onions, shallots or garlic at 657 participating PT gas stations in 25 provinces across the country. The campaign also aims to help people who are suffering hardship from increased living costs.
PTG executive vice-president Rangsun Puangprang said the company joined hands with DIT to purchase 90 tonnes of onions, shallots and garlic from farmers in the North as the current price is low. The move will relieve farmers’ hardship by enabling them to sell their produce at a fair price all season long while also stabilising the price of agricultural products. PTG will hand out 300,000 packs of this produce to PT Max Card holders who fill up with fuel or LPG at the participating stations.
Onions, garlic and shallots can be used to cook nutritious meals are known to increase appetite, help treat colds, treat hypertension, help prevent heart disease, and reduce fat and cholesterol in blood vessels.
The campaign will also combat cost of living problems at a time when people are affected by the Covid-19 situation.
The promotion will be held from Friday to Sunday or until products are run out, and be limited to one pack per customer.
“PTG is ready to join hands with the government sector to help stabilise the Thai farming sector while supporting every manufacturing process and increasing various selling channels so farmers can rely on themselves and live a good life sustainably.
“Moreover, it will increase the price and value for these three products while enabling people to consume high-quality and safe agricultural products to reduce the oversupply and low price problems via PT gas stations,” Rangsan said.
“PTG is ready to join hands with the government sector to help stabilise the Thai farming sector while supporting every manufacturing process and increasing various selling channels so farmers can rely on themselves and live a good life sustainably.
“Moreover, it will increase the price and value for these three products while enabling people to consume high-quality and safe agricultural products to reduce the oversupply and low price problems via PT gas stations,” Rangsan said.
Meanwhile, DIT director-general Wattanasak Sur-iam thanked PTG for supporting onion, shallot, and garlic farmers in the North.
DIT has used the “Omkoi Model” to make contracts with buyers in advance so farmers will have security, have a market to sell their produce, and know the price in advance to stabilise prices across the growing season this year
“PTG is ready to join hands with the government sector to help stabilise the Thai farming sector while supporting every manufacturing process and increasing various selling channels so farmers can rely on themselves and live a good life sustainably.
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