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https://www.nationthailand.com/business/40010990

As if a rise in pork and egg prices is not enough, the public are set to feel further pain as liquefied petroleum gas (LPG) prices and Khlong Saen Saep boat services fares are also expected to rise soon.

The Energy Ministry said on Tuesday that moves to consider increasing the LPG price was troublesome as the cost of living is rising, what with pork and eggs becoming more expensive.

It said the Energy Policy and Planning Office had initially come out with guidelines to raise the LPG price three times until the latter part of this year: from 318 baht per 15-kilogram tank to 333 baht, then 348 baht and subsequently 363 baht.

“It is up to the Energy Policy Administration Committee, which consists of Energy, Finance, Transport, Commerce and Industry ministries and the National Economic and Social Development Council to ensure that the decision will cause as less of an impact as possible on the public,” the Energy Ministry said.

The Energy Policy Administration Committee recently decided to maintain the LPG price at 318 baht per 15-kilogram tank until March 31 from the previous January 31.

The committee also asked PTT to consider reducing the LPG price for state welfare cardholders until March 31.

Meanwhile, Deputy Transport Minister Atirat Ratanasate said Krobkrua Khonsong’s move to raise its Khlong Saen Saep boat fares starting with 9 baht in 2020 was in line with the Marine Department’s announcement as the company had suffered heavy losses during the Covid-19 crisis.

“After Krobkrua Khonsong kept its boat service fares stable for 636 days, the company said on January 7 that it would raise fares by 1 baht from January 14,” Atirat added.

Published : January 12, 2022

By : THE NATION

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https://www.nationthailand.com/business/40010984

The baht hit its lowest point in almost a week, opening at 33.30 to the US dollar, down from Tuesday’s closing rate of 33.41.

The Thai currency is likely to move between 33.20 and 33.40 to the greenback during the day, Krungthai Bank market strategist Poon Panichpibool predicted.

Poon said that the baht might strengthen slightly. He said the baht was supported by the dollar and the gold-selling but the Omicron situation pressured the baht. Foreign investors must heavily invest in the baht for it to strengthen past level 33 to the dollar.

The currency market is in a risk-on state after the US Federal Reserve’s chairman statement to Senate Banking Committee was the same as the market expected. 

The Fed’s chair said the Fed will increase the policy interest rate more than expected to control inflation while the Fed will be able to reduce the balance sheet fasten from the past.
 

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Published : January 12, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010980

Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Wednesday (January 12) would rise to between 1,675-1,680 points in line with rising oil prices of above US$81 per barrel.

It said the index also gained positive sentiment from fund inflow on hopes over Thailand economic recovery as the number of Covid-19 cases is likely to decline.

“However, the index would be under pressure due to mass sell-offs of shares to cope with risk from the US Consumer Price Index announcement, as well as technical signs,” Krungsri Securities said.

It also recommended buying of the following companies’ shares as an investment strategy:

• PTTEP, TOP, PTTGC, IVL and SPRC, which benefit from rising oil price and gross refining margin.
• BBL, TTB, KBANK and BLA, which benefit from news of interest rate hike.
• RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate.

The SET Index closed at 1,667.12 on Tuesday, up 0.61 per cent, with transactions totalling 79.24 billion baht.

Published : January 12, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010958

Hotel occupancy in Thailand is expected to plunge 20 per cent in January over fears of the highly transmissible Omicron variant sparking an outbreak.

Marisa Sukosol Nunbhakdi, president of the Thai Hotels Association, said on Tuesday that the occupancy rate of hotels this month will be similar to that in October last year when tourists were restricted over fears of the Delta variant.

She said the situation improved in November and December when the country was reopened to tourists under the Test & Go scheme, in which fully vaccinated people only had to spend the first night in isolation while they waited for their RT-PCR test results.
However, she said the indefinite suspension of the Test & Go scheme coupled with the work-from-home (WHF) directive until the end of January would definitely affect the income of hotels. The WFH directive is prompting companies to cancel plans to hold seminars in hotels, she explained.
Marisa added the hotels association, in cooperation with the Bank of Thailand, surveyed 134 hotels from December 9 to 24. The survey also included 23 hotels earmarked for alternative quarantine and three “hospitel” hotels.

The survey found that 111 hotels that are not earmarked as alternative quarantine sites or hospitels saw bookings rise to 37 per cent compared to 30 per cent in November.
Marisa said the high-season, easing of control measures including the greenlight to serve booze in restaurants along with New Year celebrations and the Test & Go programme contributed to the improvement.
The survey found that 74 per cent of hotels had resumed normal operations compared to 68 per cent in November. She added that 49 per cent of the hotels surveyed earned 30 per cent of the revenue they earned before the pandemic, while only 25 per cent managed to have 50 per cent of their revenue restored.
She said the survey found that most hotels’ liquidity had improved in December, but 58 per cent said they only had enough to survive for three months, while 8 per cent only had enough to survive for one month.
The survey also found their room occupancy rates were about 45 to 55 per cent and most had only rehired some 60 per cent of their pre-pandemic workforce.
Marisa added that 49 per cent of the hotels said they were worried about the country closing to tourists again due to Omicron, while 72 per cent said they would have to reduce their staff to stay afloat.

Published : January 11, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010938

The baht opened at 33.62 to the US dollar on Tuesday, unchanged from Monday’s closing rate.

The Thai currency is likely to move between 33.50 and 33.70 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.

Poon said that the baht is likely to fluctuate during the day as the dollar strengthened after investors believed that the US Federal Reserve will increase the policy interest rate faster than expected while the Omicron situation was worsening.

However, Poon said that the baht will not weaken much as foreign investors continue to buy Thai assets including short term bonds which might cause the baht to strengthen.

The key resistance level for the baht would be at 33.75 to the dollar while the key support level would be from 33.30 to 33.40.

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Baht strengthens as foreign investors shrug off Omicron concerns

Stronger dollar, Omicron worries weaken baht

Baht weakens as market awaits US economic data, Fed statement

Published : January 11, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010936

Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Tuesday (January 11) would fluctuate between 1,650-1,670 points due to lack of positive sentiment.

It said the index is currently under pressure due to uncertainty over the US Federal Reserve (Fed) signalling it would raise the interest rate to tackle inflation sooner than expected.

FedWatch Tool predicted that there is 90 per cent possibility that Fed will raise the interest rate by 0.25 per cent in March, it explained.

“However, the index would rise from the decline in Thailand Covid-19 infections, so we advise investors to focus on selective buying of shares,” Krungsri Securities said.

It also recommended buying of the following companies’ shares as an investment strategy:

• BBL, TTB, KBANK and BLA, which benefit from news of interest rate hike.
• RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate.
• HMPRO, CPN, CRC, SYNEX, COM7 and KTC, which benefit from the government’s Shop Dee Mee Kuen” (Shop and Payback) scheme.

The SET Index closed at 1,657.06 on Monday, down 0.03 per cent, with transactions totalled 79.54 billion baht.

Published : January 11, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010932

Commerce Minister Jurin Laksanawisit said on Monday that he will hold talks with Beijing to allow Thailand to export fruit to China via the China-Laos high-speed railway.

Jurin, who is also deputy prime minister, spoke to reporters while leading a delegation of senior ministry officials to the customs checkpoint at the Thai-Laos Friendship Bridge in Nong Khai on Monday afternoon.

Accompanying Jurin were Commerce permanent secretary Boonyarit Kalayanamitr, deputy permanent secretary Poonpong Naiyanaphakorn, director-general of the Foreign Trade Department Phithak Udomwichaiwat and director-general of the Trade Negotiations Department Oramon Supthaweetham.
Jurin said the delegation had spoken to the private sector about how the high-speed railway can be used to boost Thai exports to Laos and China.
He said Beijing has given Thailand the right to use the railway to transport minerals, rubber and tapioca to China, so far, and the Commerce Ministry will seek permission to also add fruit to the list. However, he did not indicate the timeframe for such talks.
Jurin went on to say that the high-speed railway currently goes as far as the south of Vientiane and will be extended another 3 kilometres along the banks of the Mekong River on the Laos side.

Once this is done, he said, a dry port will be built in Laos to handle logistics, warehousing and customs clearance. The port is expected to be ready in February.
Thai exporters can use the port to send goods to China via the high-speed train and if negotiations are successful, then the port can also be used to ship fruit.
As for bilateral trade with Laos, Jurin said cross-border trade was valued at almost 200 billion baht over the past year, with Thai exports accounting for about 112 billion baht.

Published : January 10, 2022

By : THE NATION