The grant, provided by the Japan Fund for Poverty Reduction (JFPR) and administered by the Asian Development Bank (ADB), will be implemented over a period of one|and a half years, starting in November 2016. The project is aligned with the recently approved national water resource management strategic plan of the Thai government, with the Department of Water Resource under the Ministry of Natural Resources and Environment acting as the executing agency.
The project will develop simulation tool for base-integrated water resource management (IWRM) at the river basin level. The IWRM modeling tool is a computer-based hydrological model that enables users to test the hydrological impact of different water resources management approaches in a river basin.
“Under the ADB policy on water sector, the bank recognises that IWRM, based on river basin, is essen?tial in having a participatory and inclusive management model,” said Luxmon Attapich, senior country economist at ADB’s Thailand Resident Mission. “Through the base IWRM model, demonstration of the possible impacts of different water management scenarios can help the stake holders reach agreement on how to manage river basins and sub-basins to minimise the risk of future floods and improve the livelihoods of communities.”
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members—48 from the region. |In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.

 

“Bangkok was voted as most visited city in the world and this is an opportunity for us to introduce more hotel brands here,” Basset said.
He said the first new chain would be a kind of combination of hotel and residence, but the actual brand name has not been picked yet.
Accor expected to manage the first residence project within the next 12 months. The group is eyeing Bangkok and other major tourist destinations such as Pattaya, Hua Hin, Koh Samui, Phuket, and Chiang Mai for the residence segment.
“Accor will offer this option to new project or existing developers who want to renovate their properties to get into the new segment,” he said.
In Southeast Asia, Accor has introduced this kind property in Hanoi and Manila.
“The residence project will be a mid-scale property, set to serve high-profile buyers as well as investors,” said Basset.
The second new brand will be Mama Shelter – the lifestyle that also focuses on food and beverage – scheduled to open its doors in 2018 in Bangkok’s Sukhumvit area.
The group will soon sign a management contract with a local developer and Thailand will be the first country in Asia to have Mama Shelter. The brand is already well established in Europe.
Accor recently announced a plan to operate its Jo&Joe brand in Bangkok and elsewhere to serve young tourists.
In Thailand, the Accor group currently operates 69 hotels under multi-brands with a total of 16,023 rooms. There are 18 hotels with 4,134 rooms plus 1,000 villas in the pipeline to be opened in the next three years.
Its occupancy rate for hotels in Thailand by September-end was up by three percentage points and the average room rate grew by 2.16 per cent from the same period last year due to strong growth in tourism.
However, the occupancy rate at hotels in Bangkok dropped by 0.2 per cent while the average room rate in Phuket fell by 4.25 per cent due to the decline in arrivals from China.

Jaruwat Vaisaya, acting commissioner of the office of legal affairs and litigation at the Royal Thai Police, told The Nation yesterday that the Thai government was also strictly enforcing the laws and imposing punishments so that no one could exploit fishery resources without concern for human rights or caring for the sustainability of fishery resources.
The National Council for Peace and Order (NCPO) has tightened the penalty for those breaking the fishery act.
Jaruwat, who also chairs the subcommittee for inspecting, following up and litigating cases under the Command Centre for Combating Illegal Fishing, said the NCPO order will increase the government’s efficiency in punishing and fining violators, as now there are no loopholes.
In the new year, the government would continue to stringently inspect Thai and overseas waters to monitor illegal cases and human rights violations. The government will also continue to amend and adjust laws in accordance with high international standards and increase efficiency in fishery resource management, Jaruvat said.
He added the government would also tighten cooperation with the EU and international organisations to draw up measures for legal and sustainable fishing.
On December 15, the centre will submit to the EU a report on Thailand’s progress in enforcing laws and punishing violators involved with illegal fishing. Thailand will send a team to explain its actions after sending the document to Brussels.
Since Jaruvat took charge of the panel investigating cases related to illegal fishing, more than 2,000 cases of illegal fishing were probed. Of those, about 1,500 cases related to violating the vessel monitoring system (VMS). Now, the centre can move ahead with prosecution in these cases in a court. About 100 cases continue to be under investigation. The remaining cases pertain to human rights abuse, the port act, and fishery act.
To increase efficiency in punishing those who breach the fishery act, the centre has also moved to stringently enforce the penalty and fines on violators.
Since January this year, 61 cases relating to encroachment of overseas waters off Thailand were investigated, leading to punishment for the culprits after the Royal Thai Police took charge of those cases, Jatuvat said.
He added that the government would continue to act against the violators and strictly punish them.
In the past, the European Union was not satisfied with some of the stipulated penalties, as it found the fine amount – Bt1,000-Bt1,500 per case – to be too small.
However, the Thai government now imposes stringent punishments and in some cases, the fine has been several hundred million baht. The EU is quite satisfied with the tighter Thai law, he added.

This will provide unprecedented opportunities for cross-border trade and investment, officials said.
In a statement issued at the conference, the ministers noted the importance of economic corridors in the subregion’s development, and emphasised “the need to transform the GMS economic corridors into logistics hubs to support cross-border trade, investment, tourism, and stronger cooperation”.
The ministers endorsed 107 projects under a new regional investment framework implementation plan valued at $32.6 billion. They examined ways to enhance competitiveness and accelerate inclusive development in the GMS, and reviewed the long-term strategic framework for the subregion’s economic and social development.
The ministers also highlighted new trade and transport measures that will take effect in 2017. These include implementation of the GMS Cross-Border Transport Agreement, the expansion of single-stop customs inspections at key border crossing points to reduce processing time, and the introduction of a GMS road transport permit that would further facilitate the cross-border movement of vehicles, people, and goods.
Myanmar’s capital, Nay Pyi Taw, the country’s two largest cities – Yangon and Mandalay – and the country’s main port in Yangon will all become part of the GMS economic corridor network for the first time.
Vientiane will also be incorporated in the network, forging stronger links between the landlocked nation and neighbouring Thailand, Vietnam, and China.
“Today’s agreement to enhance connectivity between Mekong capitals, major economic centres and important maritime gateways establishes a firm foundation for a more prosperous and inclusive subregion,” said Asian Development Bank (ADB) vice president Stephen Groff.
Mekong nations have been pursuing the “economic corridor” system for more than two decades. Economic corridors are investment areas, usually running along major highways, which connect centres of economic activity. In the GMS, these corridors have provided jobs, increased access to goods and services for millions of people, and contributed to a 15-fold growth in intra-GMS trade over the past 15 years.
The ADB has supported the establishment of the east-west, north-south, and southern GMS economic corridors since their inception to promote the subregion’s economic growth and integration.
The subregion’s rapid growth and the opening up of the Myanmar economy have highlighted the need to further expand these corridors, according to officials attending yesterday’s meeting.
The GMS groups Cambodia, China (specifically Yunnan province and the Guangxi Zhuang autonomous region), Laos, Myanmar, Thailand, and Vietnam. Under the GMS programme, investment projects worth almost $18 billion have been undertaken since 1992.
The Manila-based ADB is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, this month the ADB will mark 50 years of development partnership in the region.
It is owned by 67 members – 48 of whom are from the region. In 2015, ADB’s assistance totalled $27.2 billion, including $10.7 billion co-financing.

In addition, the CLMV (Cambodia, Laos, Myanmar and Vietnam) market continues to expand.
In October, Thai exports to this market grew 3.6 per cent, driven mainly by a large surge in demand for jewellery.
However, risks remain. The global economic recovery is currently not sufficient to drive global trade expansion to the previous satisfactory levels, while worries continue on uncertainty over protectionist US trade policy.
Thailand’s trading partners have seen relatively sharp depreciation in their currencies, including the euro and Chinese yuan, against the US dollar, which could affect Thai exports to these destinations.
In October, Thai exports shrank 4.2 per cent year-on-year, while the 10-month figure contracted by 1 per cent.
Agricultural and agro-industry product exports declined 8.1 per cent year-on-year in October, after its two-year high in the previous month, driven mainly by drops in export quantities of sugar, rice and rubber. The 10-month figure contracted 5.4 per cent.
Manufacturing product exports fell for the first time in three months, down 2.7 per cent year-on-year in October. This was mainly due to drops in exports of finished oil products, computers and peripherals, gold, cars and parts, steel, and TVs and components. The 10-month figure shrank 0.9 per cent.
In October, Thai exports mostly declined in key destinations such as the United States, Europe, Asean, the Middle East and Australia, while there was continued expansion to Japan, China, South Asia and CLMV.
In the first 10 months of this year, Thai exports to Australia grew 7.2 per cent, 0.9 per cent to the US and 0.5 per cent to Japan.
For the whole of 2016, Thailand’s export growth is forecast to stay in previously estimated range of between minus 1 per cent and zero per cent.

Veerathai said the tax breaks would be a smart short-term stimulus measure before major government projects were launched next year.
The Finance Ministry’s tax break proposal is expected to be considered by the Cabinet today.
The ministry wants the tax break to be increased to items of up to Bt30,000 after there was a Bt15,000 cap for the scheme last year.
Veerathai said temporary factors affecting economic activities were lower agricultural prices, mainly rice, the crackdown on zero-dollar tours resulting in the decline in Chinese tourists and the mourning period for His Majesty the King.
The government needs a short- term stimulus measure to fuel |economic growth in the fourth quarter, he said.
The tax breaks should be a short- term tool because boosting spending will impact on future domestic demand, he said.
There is also a remedial measure to spur economic growth, with the government handing out Bt12.5 billion to the poor, or between Bt1,500 and Bt3,000 each person.
However, Veerathai said a long-term measure relating to investments should also be considered because it would increase the efficiency of the agricultural sector.
The BOT this year projected the country’s gross domestic product would be 3.2 per cent and the country’s economy next year should grow further.
The central bank has no plan to adjust that figure just yet as it wants to see what happens with economic activities in the fourth quarter.
Currency volatility is being monitored, he said, with capital flows predicted to move to the US due to the policies of president-elect Donald Trump. He added that foreign currency management was an essential skill for traders.
Veerathai said that looking ahead, the geopolitical environment was a critical factor impacting on goods prices and currency exchanges in the region.

The money was generated from the auction of nine numbers.
Those numbers are 09-8888-8888; 09-5555-555; 06-5555-5555; 09-7777-7777; 09-6666-6666; 09-4444-4444; 06-1111-1111; 09-1111-1111; and 09-0000-0000.
The NBTC will transfer the money, minus expenses, to the state coffers.
The 09-8888-8888 number attracted most bidders, with the bid price starting from Bt6 million and surging to Bt 8.1 million in the final round.
No one bid for the two platinum numbers – 08-8888-8888 and 09-9999-9999, which started at Bt20 million.
There were a total of 10 bidders, with most mobile-phone number dealers.
Other bidders did not disclose their names.
There were 16 numbers put up for auction.
Fourteen of the numbers started at Bt6 million.
The auction was open to all interested parties including corporate companies and individuals not on a financial blacklist.
Each bid winner has to pay the money to the NBTC within 30 days.
Takorn Tantasith, the NBTC secretary-general, said the agency plans to hold another auction for the numbers not bought yesterday and for six and seven-digit numbers by the end of the first quarter next year.
There are 490,000 numbers in the system, which the NBTC will gradually allocate for future bids.

  Thanawat Patchimkul
Head of Research
DBS Vickers Securities (Thailand)

As the world awaits more stable market conditions, Thailand remains resilient.
It seems like global investors are continuing to rebalance their portfolios and remain upbeat about the US’s economic prospects.
After the US election, the US equity market has been in the limelight and has attracted significant inflows while bonds, emerging market equities and gold sold off.
Foreign investors have sold Bt31 billion worth of Thai shares so far in November. For the year today, they remain net buyers of Bt84 billion in the Thai equity market.
A similar situation is seen in regional markets, as their currencies weakened against the dollar and with their bonds and equities being liquidated on a large scale.
We believe the Thai market’s fundamentals are still strong. Thailand’s economic growth is performing below its potential but it still has solid fundamentals. Bloomberg cited the IMF’s forecast that projects Thailand’s foreign reserves hitting US$163 billion by the end of this year. According to a measure called assessing reserve adequacy, the Kingdom needs only $65 billion.
The country’s huge foreign reserves are believed to have helped Thailand withstand the funds outflows. In comparison, other emerging countries like Malaysia, Turkey, South Africa, and Mexico might have relatively weaker foreign reserve cushions.
DBS economists point out the strength of the Thai economy lies with its current account surplus, which is expected to reach 10 per cent of gross domestic product in 2016 despite the fact that this measure reached a record-high level of 8 per cent of GDP last year.
Given the country’s economic stability, we believe the Thai stock market will remain resilient going forward. Any broad-based weakness should be treated as an opportunity to accumulate solid stocks for long-term investment.
Given the volatile market conditions, we prefer dividend stocks and recommend ADVANC/INTUCH, JASIF, DIF, CPNRF, CPTGF, AP, LH, SIRI, BCP, TCAP, TISCO, and TMT as our top income-oriented picks.

Tisco Securities

After a surprise rally that resulted in the SET being one of the region’s best performing markets in 1H16, Thai equities now look like finishing the year with a whimper following various negative events (the zero-dollar-tour crackdown, the expected Fed rate hike, and the mourning period for the King).
Over the past two years, investors had plenty of reasons to ignore the Thai market due to worries over the health of HM the King, fears that anti-coup protests could lead to a new political crisis, lacklustre GDP growth and demanding valuations. However, as we move towards 2017, many of these downside risks have either been priced in or became irrelevant.
Ironically, the Prayut government’s policy of “pivoting” towards China may have helped shield the country from the impact of potential US policy changes under a Trump administration. In addition a weaker baht is good news for Thailand’s export industry and economic exposure to the US is limited.
Despite the likelihood of a US Fed rate hike in December, we believe the risk of fund outflows is not as bad as it was in 2015. Furthermore, we see a few positive catalysts that can drive the market higher in 2017. These include successful infra-project bidding, government stimulus measures, state enterprise reforms and progress towards the first general election in six years.
For now, we’re sticking with defensive stocks (hospitals, insurance, telecom and contractors/conmat). We have also added AOT and PTT to our top-picks list as we think these stocks are most likely to re-rate out of the five listed SOEs once the State Enterprise Bill is approved in March/April next year.
Our 2017 SET year-end target is now based on a forward 2018 P/E target of 13.8x. We also established a 2018 EPS target of 119. As a result, our 2017 target has been revised up by 3 per cent to 1650. Our 13.8x target is still a 0.5x standard deviation below the five-year historical mean forward P/E. Key risks to our call include macro shocks (such as a steeping yield curve from an accelerated Fed rate hike), a delayed Thai election and a worse than expected impact of the mourning period on Thailand’s tourism and consumption.

Research Department
Trinity Securities

This week, four key factors are expected to influence stock markets across the world.
They include an informal meeting between non-Opec and Opec tomorrow and an Organisation of Petroleum Exporting Countries meeting on Wednesday. We expect the Opec meeting to reduce the crude production capacity in a range of 250,000-750,000 barrels per day. If that happens, the impact will not be significant and crude may face sell on fact.
Another expected influencing factor is the global adjustment of MSCI on Wednesday. In this round, MSCI EM raises weight on Thailand slightly. Net foreign purchases are expected on the day but only one time.
Also,China’s PMI in November will be announced on Friday. Markets are expected the figure at 51.0. If the announced figure is significantly better than expected, commodities prices, particularly manufacturing metal, would rise again. The fourth influencing factor is Italy’s referendum on reform of the country’s constitution on December 4. If the vote is for no constitutional reform, Italy’s government, led by Matteo Renzi, would not be able to push for the urgent measures for economic reform and the Italian economy would face troubles. Renzi may resign as a result.
Investment strategy: The SET Index is expected to move sideways in a narrow range. Rises of the US bond yield will result in short-term pressure and the SET Index will see declining attraction in term of the earning-yield gap. A slowdown in investment in the overall picture. If investments must be made, select small and medium gaps with support themes.
1. Stocks with gains from baht depreciation: TFG, BR, SMT, SVI
2. Stocks with positive sentiment if the Cabinet approves tax measures late this year: BIG, COM7, JMART, KAMART
3. Stocks with gains from relief measures for low-income earners: GLOBAL, ROBINS, TNP, SINGER, TK, GCAP, DCC, DRT