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TKN share price jumps 26% amid rumour of planned PepsiCo investment

NationalOct 08. 2020

By THE NATION

Taokaenoi Food & Marketing (TKN) stocks soared 26 per cent on Wednesday despite a company executive scotching rumours that PepsiCo will invest in the firm.

TKN’s stock price increased to Bt12.80 per share at its highest point before decreasing and closing at Bt12.60, a rise of 26 per cent from the previous price, with trading value in one day hitting Bt2.43 billion.

Taokaenoi became more attractive to investors after a market rumour had it that PepsiCo aimed to invest in TKN. However, a TKN executive emphatically stated that the rumour was not true.

TKN budget and finance manager Koosoon Rattanaporn confirmed that the company had not discussed any investment with PepsiCo. Koosoon said he did not know why TKN’s stock price increased at such a high rate.

Koonsoon also mentioned that TKN’s turnover this year would decrease by 10 to 15 per cent from that in 2019 due to the Covid-19 crisis and the dire tourism situation. However, he said, TKN’s foreign markets, especially China, are recovering.

TKN’s performance in the second half of the year would be better than the first half, he added. TKN’s sales in Thailand amounted to 40 per cent of the total, while sales in China accounted for another 40 per cent, with 40 countries making up the remaining 20 per cent.

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Boy, 17, admits he ‘raped’ 12-year-old schoolgirl 14 times

NationalOct 08. 2020

By THE NATION

A 17-year-old Grade 11 student admitted that he “raped” a Grade 1 schoolgirl aged 12 fourteen times in late August and September, police said.

The alleged assaults took place in a room behind an auditorium of their school in Bangkok’s Nong Chok district. The schoolgirl’s parents lodged a complaint with Suwinthawong police earlier this month.

During an interrogation on Wednesday, the teenager admitted that he raped the girl.

The police said the boy warned his victim not to tell anyone.

However, the girl’s mother noticed that her daughter did not want to go to school and asked her why.

Suwinthawong police also said the boy would be charged for having sexual intercourse with a girl aged under 15, and for forcing the girl to a place against her will.

Under the law, offenders of the first charge face imprisonment of between three and 15 years and a fine of Bt6,000 to Bt30,000. The second charge could see offenders being imprisoned for between four and 20 years.

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Divers search for couple swept away by Chao Phraya river current

NationalOct 08. 2020

By The Nation

Divers are searching for a couple who were swept away by strong currents after reportedly falling into the Chao Phraya river at a park under Rama VIII Bridge. Police also found the woman’s bag containing clothes on the pier at the bridge.

At 2am on Thursday, Bowon Mongkol police contacted a rescue team to help find the missing couple.

They assigned two teams of divers to search for the bodies for one-and-a-half hour but there was no sign of the victims.

The police examined a bag that was left behind and found no identification inside, only female clothing.

Witnesses said they saw a female Muslim woman sitting in a park under the bridge and later walking over to the pier with a man. A short moment later, they were heard screaming for help in the river.

The witnesses said they called the police and threw objects into the river for the victims to grab on to but the current was too strong and the helpless couple disappeared under the surface.

The divers had momentarily halted their search operation because of the strong water current. They believe this must have swept the two away from the spot they were last seen in.

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Baht strengthens slightly in line with other Asian currencies

NationalOct 08. 2020

By THE NATION

The baht opened at 31.21 to the US dollar on Thursday, strengthening from 31.23 at close on Wednesday.

The Thai currency is likely to move between 31.10 and 31.30 on Thursday, said Jitipol Puksamatanan, multi-assets strategist at SCB Securities.

Some global markets recovered on Wednesday night. The S&P 500 index increased by 1.7 per cent due to investors’ hopes the US government would go in for more economic stimulus measures.

Meanwhile, the dollar weakened by 0.2 per cent and the US bond yield rose by 0.78 per cent, pointing to a market in a “risk on” state again. The price of gold also increased slightly, to $1,888 (Bt58,927) per ounce.

As for the Thai currency, Jitipol predicted that in the short term the baht would strengthen in line with other Asian currencies. Development of a Covid-19 vaccine would be another factor that would strengthen Asian currencies – especially if the vaccine proved to be a success – within this quarter, he added.

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Locals evacuated after gas leak at Khao Kho ice factory

NationalOct 08. 2020

By THE NATION

People living in a 500-metre radius of an ice factory in Khao Kho, Petchabun, were evacuated after an ammonia gas leak at the facility.

Khao Kho police, who were alerted to the leak at the Yang Yeun ice manufacturing factory in Camp Son subdistrict at 3.20pm on Wednesday, rushed to the scene along with fire trucks and public health officials and was told by factory staff that the canister storing ammonia gas was leaking at its valve and could not be shut off.

Officials had to wear protective suits and used seven fire trucks to spray the area with water to reduce the effect of the spreading gas.

Khao Kho district chief Phakphum Phumi then ordered an emergency survey of children, the elderly and sick people living in a 1km radius of the factory to prepare them for evacuation. He also ordered the closure of the road from Camp Son Intersection to Krua Phet Kaew Intersection and advised motorists to use a bypass road in front of the Camp Son Buddhist Training Centre.

Later, at around 7pm, Phetchabun Governor Krit Khongmuang visited the scene to supervise and monitor the situation.

“I ordered an emergency evacuation of all people living in a 500-metre radius of the factory to a temporary camp at Camp Son Temple,” he said.

“Officials expect to control the situation by midnight or by 2am [on Thursday] the latest,” he said earlier.

There has been no report of injuries or deaths so far.

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9 migrant construction workers injured in Bangkok crane truck accident

NationalOct 08. 2020

By THE NATION

Nine migrant labourers were hurt when a crane accidentally tore off the roof of their truck on Wireless Road in Bangkok’s Pathumwan district on Wednesday night.

Lumphini Station police, who were alerted to the incident at 9.40pm at a construction site approximately 300 metres from the Japanese Embassy, arrived quickly at the scene to find the roof of the six-wheeler truck, which was modified as a transporter for construction staff, completely torn off by the hook of a yellow crane truck.

The nine injured passengers, all migrant workers from neighbouring countries, were rushed to Chulalongkorn Memorial Hospital, Police General Hospital and Lerdsin Hospital. The extent of their injuries were not immediately known.

A witness reportedly told police officers that as the crane truck exited the construction site, its dangling iron hook got caught on the roof of the passing transporter on Wireless Road, tearing the roof clean off the transporter.

Police have not charged anyone yet, but are interviewing the crane truck driver to determine the cause of the accident.

Traffic police had to remove the two vehicles out of the way to relieve traffic congestion.

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Continuous rainfall, isolated heavy rain forecast for many parts of Thailand

NationalOct 08. 2020

By THE NATION

Isolated heavy to very heavy rain is possible in the lower Northeast, the East and the Central region, including Bangkok and its vicinity, and the South, the Thailand Meteorological Department said on Thursday, warning people in risky areas to beware of severe conditions.

Strong winds will whip up waves 2-4 metres high and over 4 metres high in areas with thundershowers in the Andaman Sea and the upper Gulf, the department added, advising all ships to proceed with caution and keep away from thundershowers.

Here’s the weather forecast for the next 24 hours:

North: Mostly cloudy with thundershowers in 30 per cent of the area; temperature lows of 23-26 degrees and highs of 33-35 degrees Celsius.

Northeast: Cloudy with thundershowers in 70 per cent of the area and isolated heavy rain; temperature lows of 22-24 degrees and highs of 26-30 degrees Celsius.

Central: Cloudy with thundershowers in 70 per cent of the area and isolated heavy rain; temperature lows of 24-25 degrees, highs of 33-34 degrees Celsius.

East: Cloudy with thundershowers in 80 per cent of the area and isolated heavy to very heavy rain; temperature lows of 24-26 degrees, highs of 30-33 degrees Celsius; waves 2-4 metres high and over 4 metres during thundershowers.

South (east coast): Mostly cloudy with thundershowers in 60 per cent of the area and isolated heavy rain; temperature lows of 24-25 degrees, highs of 32-33 degrees Celsius; waves 2-4 metres high and over 4 metres during thundershowers.

South (west coast): Mostly cloudy with thundershowers in 70 per cent of the area and isolated heavy rain; temperature lows of 24-25 degrees, highs of 29-32 degree Celsius; waves 2-4 metres high and over 4 metres during thundershowers.

Bangkok and surrounding areas: Mostly cloudy with thundershowers in 80 per cent of the area and isolated heavy rain; temperature lows of 24-25 degrees, highs of 32-34 degrees Celsius.

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Economy to shrink 7-9% but export picture rosier: JSCCIB

NationalOct 08. 2020Kalin Sarasin 

By THE NATION

Thailand’s economy will shrink by 7-9 per cent this year but has passed through its lowest point in the Covid-19 crisis, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) said on Wednesday.

Kalin Sarasin, JSCCIB chairman, said economic momentum would continue through the end of the year after hitting rock-bottom in the second quarter. Thailand recorded its worst slump since the 1997 financial crisis earlier this year as the lockdown and travel ban battered the economy.

Kalin said the recovery was down to Thailand’s success in dealing with the virus, plus government stimulus measures such as schemes to boost domestic tourism.

However, he also warned that recovery in the fourth quarter would be disrupted if there was a second wave of infections.

Other factors that could affect the Thai economy were a strong baht and foreign politics, especially in the US where the presidential election is due next month.

The JSCCIB forecasts the economy will contract by 7-9 per cent and inflation fall 1-1.5 per cent this year.

For exports it sees a rosier picture, raising the 2020 forecast from a drop of 10-12 per cent to a drop of 8-10 per cent.

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Labour network demands better welfare on ‘decent work’ day

NationalOct 08. 2020

By THE NATION

The Thai Labour Solidarity Committee held a protest on Wednesday morning outside the Social Security Office headquarters in Nonthaburi to mark the “World Day for Decent Work”.

At the event, the committee handed in a petition calling for the government to manage the social security fund more efficiently. It also demanded that the welfare fund be made available to everyone and government create new job opportunities that pay fair salaries.

The Social Security Office was also urged to offer financial services and more hospital options for members.

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Mae Hong Son named Thailand’s dengue hotspot as cases quadruple

NationalOct 07. 2020

By The Nation

Mae Hong Son tops Thailand’s rankings for dengue cases this year, with 1,396 infections and one death up to October 5 (Monday).

The infection rate of the mosquito-borne disease in the northern province is 499.09 per 100,000 people, Dr Supachai Boon-Amphan, a Mae Hong Son health chief, said on Wednesday.

The highest number of cases was in the 10-14 age group, followed by the group aged 15-24. Most of those infected were students and farmers. Mae Sariang is the worst-affected district with 863 cases.

Dengue fever cases in Mae Hong Son this year have more than quadrupled (4.28 times) compared to last year.

Health officials have blamed the rise on heavy monsoon rains and waterlogged conditions that are ideal breeding grounds for mosquitoes that carry the disease.