Labour Minister Suchart Chomklin on Thursday bid farewell to 206 Thai labourers who are travelling to Israel from Suvarnabhumi Airport for agricultural work.
The labourers are heading to the Middle East country under the Thailand-Israel Cooperation on the Placement of Workers (TIC) programme, one of the government’s plans to encourage Thais to head to foreign countries for work. The Thais are expected to receive salaries of Bt48,000.
The project in Israel began in 2012, and 5,000 labourers have been sent to that country each year since. As of February 2020, precisely 40,082 Thai labourers have been working in Israel, generating Bt54.58 billion in income.
“Thai workers have been allowed to join the TIC due to effective management of the Covid-19 pandemic, and the Israeli government requires 2,000 workers in the agricultural field,” Suchart pointed out.
He said this number would be met by January 2021 and all workers would receive training before leaving. They will also be protected under the law.
The next round of TIC registrations will be held from November 23 to 27.
Thai deposits averaged Bt4,754 at the end of the last quarter, the Bank of Thailand (BOT) reported.
BOT said total deposits by Thais accounted for Bt14.32 trillion in 10.34 million accounts.
Some 89.65 million accounts had a balance of Bt50,000 or lower – 86.68 per cent of total accounts in the banking system.
However, total deposit in the 89.65 million accounts amounted to only Bt426.19 billion, or just 2.98 per cent of total deposits. Each account of Bt50,000 or lower saw an average deposit of Bt4,754 – a very slight increase from Bt4,712 at the end of 2019.
Accounts that saw over Bt1 million in deposits numbered 1.7 million, or 1.64 per cent of total accounts.
Deposits to these accounts averaged Bt6.51 million, amounting to Bt11.12 trillion, or 77.71 per cent of total deposits, BOT said.
The Centre for Covid-19 Situation Administration on Thursday reported five new cases in quarantine over a 24-hour period.
The latest cases are:
> A 30-year-old Thai female student, who returned from Sweden on November 5 and went into Chon Buri state quarantine. She was found positive on November 10, with a fever of 37.6 degrees Celsius.
> A 45-year-old Thai welder, who came home from Iran on November 5 and entered quarantine at a state-appointed hotel in Bangkok. He tested positive on November 10.
> A 58-year-old Thai male merchant, who returned from Kenya and Ethiopia (connecting flight) on November 6. He went into state quarantine in Chon Buri and was found positive on November 9.
> A 65-year-old Thai woman, who arrived from Switzerland and Dubai (connecting flight) on November 7. She tested positive on November 9 with 37.9 degrees Celsius fever in quarantine in Samut Prakan.
> A 70-year-old German man, who arrived on November 5 and went into alternative state quarantine at a hotel in Bangkok. He was found positive on November 10.
Meanwhile, eight patients have recovered and been discharged.
As of Thursday, the number of confirmed cases in Thailand has increased to 3,894 (889 in state quarantine). Of these, 99 are in hospital and 3,693 have recovered and been discharged. The death toll remains at 60.
According to Worldometer, as of 10am the number of confirmed global cases has increased to 52.4 million (rising by 613,436 in 24 hours). Of these, 36.67 million have recovered, 14.47 million are active cases (95,071 in severe condition) and 1.29 million have died (an increase of 10,180).
Thailand ranks a safe 149th for most cases in the world.
The US has the most number, with 10.7 million, followed by India (8.68 million), Brazil (5.74 million), France (1.86 million) and Russia (1.83 million).
The Agriculture and Cooperatives Ministry sees an opportunity to expand its eco-friendly product markets and witness an expected foreign investment boost after Joe Biden takes over as the new US president.
Alongkorn Ponlaboot, adviser to the agriculture and cooperative minister, said the US, as the world’s biggest economy, influences global trading in markets that mostly use the US dollar and it is Thailand’s second top export market, while the kingdom’s international reserve funds are also in US dollars.
He said the new president would ease trade tensions, while a fresh dose of economic stimulus measures would raise government expenditure, expand infrastructure, increase wages and tax big businesses, possibly resulting in a recession of investment.
At the same time, American investors would eye Asian countries as new locations for investment, especially in agricultural, Alongkorn said.
He said free trade with allies would make trading freer but could still hamper China because of the Trans-Pacific Partnership alliance.
New policies would also help American farmers and deal with global overcapacity, prevent market dumping and intensify punishment against trade partners that violate the new US administration’s measures, which include human rights violations and environmental issues.
The goal is to make American agriculture the first “net-zero emission” in the world and set up infrastructure that would prepare for climate change.
“The Office of Agricultural Economics has closely watched the US presidential election to analyse the new direction of agriculture and international policies, which are expected to ease. The minister is now focusing on eco-friendly products on which Joe Biden places importance,” Alongkorn said.
“Thailand has the opportunity to expand its markets for high-quality items such as organic products. The US’s financial policies are likely to be positive news for Thai consumer products and food,” he added.
International Agriculture Economics Division director-general Angkana Puttasri said that between 2017-2019, goods worth Bt845 billion were exported to the US, while the export of agricultural products was valued at Bt128 billion, or 15.18 per cent of total exports.
However, 231 Thai products are expected to be excluded from the generalised system of preferences (GSP) list from December 30 after Thailand continued with its policy of restricting imports of certain pork products, she said.
The price of the products excluded from the GSP list will increase after US import duties rise from 0 per cent to 1.9-9.6 per cent.
Some 13 agricultural products that will face ad valorem tax include live plants, fats, plant oil, seasoned vegetables, glucose, glucose syrup and spice, while nine products that will be charged at specific rates include peanuts, beans, plant seed and processed mango.
Thailand has to now reduce its production costs, enhance production efficiency, increase product quality and safety to satisfy consumers, who will have to pay higher prices, she added.
The Malaysia Trade Competition Commission (MTCC) on Wednesday approved Charoen Pokphand’s (CP) acquisition of Tesco Lotus in Malaysia. This comes on the heels of Thailand’s Office of Trade Competition Commission (OTCC) giving CP the nod on November 2 to purchase the retail giant.
This effectively helps CP Retail Development Co Ltd under CP Group own Tesco Lotus’s assets worth Bt338.44 billion in the two countries.
A news source from Malaysia reported that the MTCC stipulated that CP must increase the ratio its SME partners to at least 10 per cent for 5 years, and must help promote local entrepreneurs in overseas market expansion. The commission has also allowed CP to hire foreign low-skill labourers at a maximum 15 per cent of its workforce.
According to a CP All report submitted to the Stock Exchange of Thailand on March 9, the acquisition of Tesco Lotus in Malaysia will let CP Group own 46 hypermarkets, 13 supermarkets, 9 retail shops and 56 rental retail spaces under Tesco Lotus in Malaysia. CP All jointly invested in the deal at 40 per cent.
The OTCC held a meeting on Wednesday to address concerns highlighted by a minority of its commissioners who voted against the acquisition as this could lead to a monopoly or unfair market dominance. The commission voted 4:3 in favour of the US$10-billion (Bt302.5 billion) takeover deal.
During the meeting, OTCC spokesman and minority group leader Santichai Sarathawanphaet pointed out that the commissioners who voted against the deal had four concerns:
1) The acquisition could affect Thailand’s economy as it could lead to monopoly, unfair market dominance and socio-economic disparity, as CP is already the largest manufacturer of agricultural and consumer products that are vital to daily life, while the acquired party holds a large market share in wholesale and retail modern trade.
2) The acquisition could result in an obstacle for new entrepreneurs to enter the market, while other businesses would need to adjust their strategies and lower their costs and selling price to remain in the market. Those who cannot adjust will be forced to quit, most of which are likely to be SMEs, which will result in consumers having fewer product choices.
3) As the biggest player in the market, CP will have more bargaining power against suppliers of products and raw materials while SME manufacturers will be at a disadvantage when negotiating trade terms with suppliers.
4) The acquisition will result in fewer number of competitors, and in the long term consumers will have limited choices of products and prices, whereas CP will have the power to set its own prices in accordance with its needs and policies.
Santichai said the commissioners who voted against the acquisition do not seek to oppose the majority vote after the decision was made but only need to notify the public of their concerns.
“CP will have 60 days to appeal to the Administrative Court in case it disagrees with any part of the OTCC’s resolution or conditions,” he added.
The baht opened at 30.32 to the US dollar on Thursday, weakening from 30.27 at close on Wednesday.
The Thai currency is likely to move between 30.20 and 30.40, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.
On Wednesday, global stock markets rose. In the US, the S&P 500 increased by 0.8 per cent, almost reaching its highest point. Europe’s Stoxx 600 grew by 1.1 per cent as investors believed the global economy would recover next year, he said.
Meanwhile, the dollar strengthened by 0.3 per cent, compared to other main currencies. The German Ten-Year Treasury yield decreased by 2 basis points to -0.51 per cent after Brexit talks.
The Reserve Bank of New Zealand decided not to enforce a negative interest rate policy. The New Zealand dollar strengthened by 1.1 per cent on Wednesday.
In Thailand, the baht continued to be supported by capital flowing in from foreign investors, and would strengthen in line with other Asian currencies, Jitipol said.
Investors are interested in investing more money in Asian countries as costs are lower than in other regions, he added.
The Government Housing Bank’s (GHB) latest monthly property auction campaign, held on November 11, or “11.11”, has netted Bt69.9 million from sales of 49 properties, the highest in five months since the campaign started in July, president Chatchai Sirilai said.
“The auction was held via the GH Bank Smart NPA mobile application. Interested participants could place their bids from noon to 1pm only,” he said.
“We sold 49 of 111 listed properties, with 12 located in Bangkok and 37 upcountry. The highest closing price was Bt3.29 million for a 3-storey commercial building in Chumphon, while the lowest was Bt500,000 for a single-storey townhouse in Prachin Buri.
“We selected only good quality properties located near transport routes for the campaign, and then set starting bid prices at 40 per cent cheaper than market prices. Moreover, every bid winner was offered a 10 per cent discount on the closing price. If they sign the contract by December 30, they will get another 5 per cent discount,” Chatchai said.
“The bank offers no interest rate in the first 1-2 years depending on the property, while buyers can apply for an additional loan to renovate or decorate the property at 2.8 per cent interest in the first three years with no application fee,” he added.
The next GHB auction will be held on December 12, or 12.12. For more information on listed properties, visit www.ghbhomecenter.com or contact: 0-2202-1016.
The Cooperative Promotion Department has vowed to continue its Cooperative Supermarket campaign in 2021, with this year seeing 94 agricultural cooperatives in 42 provinces joining the campaign and increasing their revenue by more than Bt86 billion.
“Under the Cooperative Supermarket campaign, the department has provided training courses in supermarket management, product display and service improvement to cooperative members,” deputy director-general Wisit Srisuwan said.
“We also help promote partnership between cooperatives and manufacturers, retailers and supermarkets which have registered under the campaign,” he said.
“It has helped increase rotational business within and between cooperatives and boosted their revenues by Bt86.39 billion, or Bt8 million per month on average.
“Among the products available in cooperative supermarkets are rice, milk, eggs, coffee, vegetable, fruit, processed seafood and processed meats,” Wisit said.
The department expects 155 additional cooperatives to join the campaign in 2021, while it aims to establish a supermarket network in every province.
“Furthermore, we plan to provide training on the use of modern tools under the Design Thinking Process and Business Model Canvas programmes to help cooperatives expand their businesses and penetrate the online market that covers a wider group of customers,” he added.
The Royal Thai Police (RTP) is preparing for a pro-democracy rally at Democracy Monument and in front of the Education Ministry on November 14, expecting most of the participants to be students, RTP spokesman Pol Maj-General Yingyos Thepjamnong said on Wednesday.
“The Metropolitan Police Bureau was ordered to deploy more female crowd-control officers to monitor the situation and prevent any violence that might occur,” he said. “We understand that students have the right to express their political views but they also need to respect the laws.”
Yingyos said the water that crowd-control police sprayed on protesters at Sanam Luang on November 8 had no chemical mixture, and that the police had warned the rallyists not to make the illegal move of approaching the Grand Palace prior to spraying the water.
“We also now have information on the protester who threw a smoke bomb in Sanam Luang on November 8 and will soon pursue legal action,” he said.
Yingyos said that from October 13 until now, 89 protesters have been arrested and charged with various offences, mostly for sedition under Section 116 of the Criminal Code.
“After being notified of the charges, all offenders have been released while police are gathering evidence to submit to prosecutors,” he added.
The Meteorological Department forecast on Thursday cool to cold weather with strong winds and a temperature drop of 1-3 degrees Celsius in upper Thailand, while the Gulf and the South would experience isolated heavy to very heavy rain, with waves about 2-3 metres high in the Gulf and above 3 metres in areas with thundershowers.
The department advised small boat to stay ashore and all ships to proceed with caution and keep away from thundershower areas from November 12 to 14.
Here’s the weather forecast for the next 24 hours:
North: Cool to cold weather with strong wind and rain in 20 per cent of the area; temperature lows of 12-19 degrees and highs of 29-32 degrees Celsius. Temperature on hilltops is likely to drop to 6-12 degrees Celsius.
Northeast: Cool weather with strong wind and rain in 20 per cent of the area; temperature lows of 18-20 degrees and highs of 26-29 degrees Celsius. Temperature on hilltops is likely to drop to 10-15 degrees Celsius.
Central: Cool weather with strong wind and rain in 20 per cent of the area; temperature lows of 19-21 degrees, highs of 30-32 degrees Celsius.
East: Cool weather with strong wind and rain in 20 per cent of the area; temperature lows of 19-22 degrees, highs of 28-30 degrees Celsius; waves 2 metres high and over 2 metres offshore.
South (east coast): Mostly cloudy with thundershowers in 70 per cent of the area and isolated heavy to very heavy rain; temperature lows of 21-23 degrees, highs of 31-33 degrees Celsius; waves 2 metres high and over 3 metres during thundershowers.
South (west coast): Mostly cloudy with thundershowers in 60 per cent of the areas and isolated heavy rain; temperature lows of 22-24 degrees, highs of 31-34 degree Celsius; waves 1-2 metres high and 2 metres during thundershowers.
Bangkok and surrounding areas: Cool weather with strong wind and rain in 20 per cent of the area; temperature lows of 21-22 degrees, highs of 30-32 degrees Celsius.
