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Debt clinics will not clear your debts, only make payments easy: ministry

NationalNov 06. 2020

By THE NATION

The Digital Economy and Society Ministry has warned people not to believe or spread rumours that the Bank of Thailand’s “Debt Clinic by SAM” will help pay off debts below Bt2 million.

The debt clinics have been organised in cooperation with Sukhumvit Asset Management (SAM).

“The ministry’s Anti-Fake News Centre contacted the Bank of Thailand to verify this information and was told it is not true,” the ministry said. “Under this campaign, SAM does not provide loans to people who have debts of less than Bt2 million.”

It explained that for each approved applicant, SAM will combine their debts from different sources, such as credit cards, cash cards and personal loans, into a single account. This deal only covers people who owe no more than Bt2 million in total.

“This will allow applicants to continuing paying their debts at a reduced rate of interest instead of paying several creditors, each of whom have their own interest rate,” it said.

Call the Bank of Thailand’s 1213 hotline or visit www.bot.or.th for more information. Fake news can be reported via www.antifakenewscenter.com.

Related Story: SAM sets up debt clinics to help ease suffering of overwhelmed debtors

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Phuket’s tram plan may be replaced with electric bus rapid transit

NationalNov 06. 2020

By The Nation

Transport Minister Saksayam Chidchob on Thursday reported on the progress of the mass transit system (tram) for Phuket province at the mobile Cabinet meeting in the province.

The pilot tram route was planned from Phuket International Airport to Ha Yaek Chalong, a distance of 41.7 kilometres, with a

budget of approximately Bt35 billion.

Initially, the ministry had given the Mass Rapid Transit Authority of Thailand (MRTA) to consider adjusting the operating system to reduce construction costs due to the fact that large cities in foreign countries have adapted to use rubber-wheeled electric vehicles (EV) since they can save more than Bt10 billion in construction costs and cheaper fare.

However, the MRTA is still in the process of designing the project details. Therefore, the project can still be improved. The draft terms of reference do not specify that it must be developed into a train tram only. So, as time changes, It should be replaced by the traditional bus that is less expensive and worthwhile.

According to the latest study, only about 39,000 passengers per day were found to be using the system.

In this regard, the adjustment of the bus system will take less time to consider suitable alternative transportation systems. The plan seems to have been changed to a Bus Rapid Transit (BRT), but with electric vehicles (EVs) run on the centre of the road. It is expected to be proposed to the Cabinet for approval within this year and open for service in 2026.

“Using road medians should not be a problem. The MRTA has discussed with the Department of Highways to dismantle the road medians, rework the road surface and use the barrier between the lanes of the BRT bus and general cars,” said Saksayam.

He also said to use the road median area to develop the BRT bus route, the MRTA must study the opportunity to develop a commercial area or further adjustment.

The distance is approximately 42km and has 21 stations. In the future, there are plans for this project to connect with trains going to Phang Nga at Phuket Airport to facilitate travel for people and tourists travelling to Phang Nga province.

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Prayut challenges his successor to be greater, better, more honest

NationalNov 06. 2020

By The Nation

Prime Minister Prayut Chan-o-cha has issued a challenge, saying the person who succeeds him should be greater, better and more honest.

According to Matichon, the premier made this declaration in a keynote address at the Thailand National Defence College on Thursday. Though media were not allowed to attend the event, a video recording of the speech was released.

In the speech, Prayut said the country’s educational system was not bad, but it focused far too much on academics, when people should be educated about patriotism, history and loyalty.

“I hope the person who comes after me will be greater, better and more honest or as honest as me,” he said, adding that he was tired and bored of using his authority and power.

He said he had used his power to “nurture good people and punish bad people”, which was a really tough job.

Prayut wrapped up by saying he does not understand why people keep saying he has exploited his power, when he has done everything according to law.

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First Chinese group expected in time for Year of the Ox under travel bubble

NationalNov 06. 2020Phipat Ratchakitprakarn 

By The Nation

The Tourism and Sports Ministry will discuss the option of building a travel bubble for Chinese tourists with the Chinese Embassy, with the aim of drawing visitors from 22 provinces in China that have been free of Covid-19 for more than 150 days.

The travel bubble involves opening cities to exchange tourists without the necessity for isolation.

Tourism and Sports Minister Phipat Ratchakitprakarn said the ministry will cooperate with the Public Health Ministry before proposing the idea to the Centre for Covid-19 Situation Administration and the Cabinet.

He expects the Cabinet to approve the proposal before January 1, while the ministry expects the first group of Chinese tourists to arrive under the new arrangement during Chinese New Year in February.

“Once the Cabinet approves the idea, the ministry will discuss the option with the Chinese Embassy in Bangkok, while the Foreign Ministry will discuss the plan with its Chinese counterpart. After that, Prime Minister Prayut Chan-o-cha will discuss the issue with Chinese President Xi Jinping,” he added.

Meanwhile, he said, the Scandinavian group that was expected to arrive under the Special Tourist Visa will not arrive this month because the country is under a second lockdown.

“However, government and private agencies will continue promoting tourism,” he said, adding that the ministry has called on tourism operators in Phuket to use their customer database and invite people to visit Thailand. The Tourism Authority of Thailand and the Thailand Longstay Company have also been told to help.

“Hence, we expect the number of foreign arrivals in Thailand this year to stand at 6.8 million, though the second lockdown in Europe is making it tough to draw tourists to Thailand,” he added.

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THAI puts 34 aircraft up for sale in bid to survive

NationalNov 06. 2020

By The Nation

Thai Airways International (THAI) has decided to sell 34 passenger airplanes, including Boeing 747s and B777-300s, to survive the financial crisis.

The airline listed the airplanes at its www.thaiaircrafttrading.com website on Thursday, while potential buyers are invited to contact the airline via airplanesale@thaiairways.com.

Most of the aircraft have on average been used for more than 20 years and do not have insurance. THAI expects the aircraft to be sold by November 13.

The Bankruptcy Court approved a business rehabilitation plan for the airline, which has to come up with new strategies to solve the crisis.

THAI has already achieved some success from shifting its focus to the catering business and selling deep-fried dough via its Puff & Pie outlets.

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Nakhon Ratchasima’s flood crisis eases slowly, locals hope there is no more rain

NationalNov 06. 2020

By The Nation

The flood situation in Nakhon Ratchasima’s Phimai district is improving as water levels began dropping on Friday and some roads became serviceable again.

The water had dropped by 20 centimetres, though some areas near Chakkarat canal were still flooded.

The road outside the district office had cleared up, but the one outside the Phimai provincial administration organisation office was still under water.

Local officials arrived at work on boats, but believe the situation will improve provided there is no rain in the next couple of weeks.

The Phimai dam, however, is full beyond its capacity and needs to release water. Officials have prepared 20 water pumps to ensure residential areas are not flooded.

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Samui declared Covid free as French woman discharged from hospital

NationalNov 06. 2020

By THE NATION

The 57-year-old French tourist who tested positive for Covid-19 on October 21 has recovered and was discharged from Koh Samui Hospital in Surat Thani on Thursday.

She will, however, have to remain in quarantine at home for 30 days under the supervision of doctors.

Meanwhile, local officials showed up to hand her flowers as she was leaving the hospital, while a doctor said the woman had really recovered and the island was completely free of the “troublesome” Covid-19 virus.

The woman arrived in Thailand on September 30 with her husband and son. The family completed their 14-day mandatory quarantine in a hotel in Samut Prakan before leaving for Samui on October 15.

Then on October 21, the woman tested positive for Covid and the result was again confirmed by the Regional Medical Sciences Centre 11 in Surat Thani on October 22, when she was admitted to hospital. Her husband and son have tested negative to the virus.

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Five returnees test positive to Covid-19, death toll rises to 60

NationalNov 06. 2020

By The Nation

The Centre for Covid-19 Situation Administration (CCSA) reported eight new cases in state quarantine facilities and one death over a 24-hour period on Friday.

All patients are returnees and most were asymptomatic, namely:

• A 68-year-old Swiss financial expert, who arrived on October 22 and checked into an alternative state quarantine hotel in Bangkok where he tested positive on November 4.

• A 36-year-old Indian tailoring shop owner, who arrived on October 23 and checked into Bangkok alternative state quarantine, where he was found positive on November 4.

• A 56-year-old Thai woman who returned from Saudi Arabia on October 24 and tested positive in a Bangkok state quarantine hotel on November 3.

• A 41-year-old Thai masseuse who returned from Ukraine on October 31 and tested positive in a Bangkok state quarantine hotel on November 4.

• A 36-year-old Thai woman who returned from the Netherlands on October 31 and tested positive in a Bangkok state quarantine hotel on November 4. She had cough symptoms.

• Three Myanmar truck drivers, aged 28, 29 and 41, tested positive at the Thailand-Myanmar border checkpoint on October 26 and were returned to Myanmar for treatment.

Meanwhile, 16 other patients have recovered and been discharged, though a 66-year-old Thai national who returned from the United Kingdom on October 19 succumbed to the virus on Thursday. He had developed breathing difficulties on October 20 and needed a respirator. He took a swab test and was recognised as Covid-19 patient number 3,719 in Thailand. Personal health information shows he had type 2 diabetes and high-blood pressure.

The total number of confirmed cases in Thailand has risen to 3,818 (866 in state quarantine), of whom 119 are in hospital and 3,639 have recovered. The death toll has risen to 60.

As of 10am, the number of confirmed cases globally according to Worldometer had increased by 604,248 to 49 million. Of them, 34.97 million have recovered, while 12.8 million are active cases (90,006 in severe condition) and 1.23 million died (with 8,712 new deaths).

Thailand ranks 149th among countries with most cases, though US still tops the list with 9.91 million patients, followed by India with 8.41 million, Brazil with 5.61 million, Russia 1.71 million and France 1.6 million.

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Baht strengthens to its highest against the dollar in over nine months

NationalNov 06. 2020

By THE NATION

The baht opened at 30.78 to the US dollar on Friday, strengthening from 30.88 at close on Thursday.The Thai currency is likely to move between 30.70 and 30.90 on Friday, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.

Amid the US election, the S&P 500 and Stoxx 600 increased by 1.9 and 1 per cent, respectively. The US Federal Open Market Committee approved a freeze in interest rate at zero to 0.25 per cent.

This approval could also freeze the Two- and Ten-Year Treasury yields at 0.14 and 0.76 per cent from the previous day.

At the same time, the US initial jobless claims announced this week decreased to 751,000 positions. Total claims were 7.2 million people.

In the financial market, the dollar fell by 1.1 per cent, while the dollar index reached its lowest level since October 21. This factor supported the gold price to $1,946 per ounce.

In Thailand, the baht in the short term strengthened in line with other Asian currencies. The 30.80 per US dollar on Friday morning was the strongest rate since January 28.

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Capital market wants new finance minister to tweak SSF regulations to woo investors

NationalNov 06. 2020

By The Nation

The Federation of Thai Capital Market Organisations (Fetco) will seek a change in Super Savings Funds (SSFs) regulations to attract more investors.

Fetco chairman Paiboon Nalinthrangkurn said the federation would listen to the new finance minister’s proposals to know if the government wanted to also use the capital market to enable economic recovery.

He said the Investor Confidence Index in the next three months was 61.27, down 9 per cent from the previous month and the lowest in eight months.

The SSF is a government-led initiative launched on April 1 that aims to encourage Thais to save and invest. They can claim a 30 per cent tax deduction on contributions, capped at Bt200,000 a year. They have to hold the investment for 10 years to avail of the tax benefit.

“Investors hope for economic growth, the government’s policy and fund flow, while they were worried about political unrest, the economic slowdown and the Covid-19 outbreak,” he explained.

“Meanwhile, investors were interested in food and beverage businesses but were not interested in the banking business.”

Thai Bond Market Association (ThaiBMA) executive vice president Ariya Tiranaprakit expected the Monetary Policy Committee to maintain the key interest rate at 0.5 per cent and launch measures to stimulate the economy during their meeting this month.

She added that the amount of bonds issued was currently Bt630 billion.

“We expect the amount of bonds issued to hit Bt700 billion, down from the expected Bt800 billion, as large companies have sought loans from commercial banks instead of issuing bonds,” she said.