Government urged to make Thai stock market more investor friendly, as new trading app launched
THURSDAY, JANUARY 19, 2023
Jarupong Krisanaraj
Thailand’s stock market should be improved to attract more investors, investment gurus said on Thursday.
The remarks were made during a press conference at the launch of “Liberator”, a stock trading application, at The Athenee Hotel in Bangkok.
The application, which does not charge any stock trading fees and offers access to a community for exchange of knowledge, was launched by Liberator Securities.
Nonarit Bisonyabut, a senior research fellow at Thailand Development Research Institute, said the people’s demand for savings had increased amid uncertainty over the ageing society.
The majority of the elderly say they do not have enough savings to be used during their retirement, he said.
He pointed out that more people were turning to gambling in order to make money. He added that around 800,000 people on average were turning to gambling annually.
“On the other side, 2.3 million people had opened their account for investment, but only 400,000 to 600,000 investors were still active,” he said.
Nonarit said the government’s move to levy a financial transaction tax on stock trades from April 1 this year barred investors from speculating for profit.
Instead, he said Thailand’s stock market should be improved to attract more investors. He suggested including the Liberator application in schools in a bid to create awareness among students.
Meanwhile, Thai Value Investor Association chairman Chalermdej Leewongcharoen said zero stock trading fee should have been introduced a long time ago.
He pointed out that the decline in the number of stock investors had happened as some of them were not aware of this investment.
“However, investment in stocks has changed, thanks to several investors sharing their knowledge on the internet,” he said, adding that most of these investors were teenagers.
Echoing Nonarit, Chalermdej slammed the government’s move to levy a financial transaction tax on stock trades. Instead, he advised the government to make the stock market more transparent, especially on regulations related to fees.
He pointed out that Thailand’s stock market was not fair, as large investors paid less in fees than retail investors.
“Levying a financial transaction tax on stock trades will affect market sentiment,” he said.
Both gurus praised Liberator Securities for launching an application that is able to tackle the stock market’s pain points effectively.
According to Liberator Securities, stock investors had to pay 0.08% in commission fee while trading stocks. For instance, investors have to pay 800 baht in fee for trading stocks worth 1 million baht.
Ganesha statue with Buddhist element brings worshippers and tourists to Udon Thani
WEDNESDAY, JANUARY 18, 2023
A unique statue of Ganesha in Udon Thani province is drawing worshippers from all over the country seeking blessings, in addition to tourists.
The Sri Suk Ganesha statue has been installed behind Udon Thani Vocational College in Muang district. Built in 2019 by the famed sculptor Rachan Saengthong, the statue mixes Hindu and Buddhist mythology. The statue portrays the Hindu god of luck with eight hands perched on Naga, the nine-headed king cobra who protected Gautama Buddha from the elements after his enlightenment.
Rachan said he had portrayed the Naga based on Udon Thani folklore of Naga King Sri Suttho, who is believed to have protected the city from great floods caused by the Mekong River since ancient times.
Although the statue was installed relatively recently compared to other spiritual attractions in the province, it has quickly become a tourist hotspot. Worshippers of both Ganesha and Naga from around the country are turning up in large numbers daily to light candles, scented incense sticks and offer garlands made of marigolds, Ganesha’s favourite flower.
The Sri Suk Ganesha statue is believed to grant blessings for success in business, a long and happy life, and wisdom.
Worshippers are advised to chant the provided mantra to show respect to the statue while offering various kinds of desserts, milk and fruits. According to Hindu belief, meat offerings are prohibited in a place of worship.
Hop to it: Top Hong Kong’s Luckiest Spots to Visit in the Year of the Rabbit
WEDNESDAY, JANUARY 18, 2023
Now that Hong Kong is ready to welcome international visitors again, it’s the perfect opportunity to celebrate Chinese New Year in true Hong Kong style.
After all, nowhere blends time-honoured Chinese New Year traditions with modern energy quite like this buzzing metropolis. In honour of the Year of the Rabbit, here are five of Hong Kong’s most fortuitous experiences to fill your year with good luck, health and prosperity.
1. Take Instagrammable Photos with the ‘Lucky Rabbit’
Brought to you by the Hong Kong Tourism Board, a series of dazzling Chinese New Year checkpoints have transformed the harbourfront. For starters, a giant Lucky Rabbit is making its debut on the roof of the Central Pier. Visitors will also discover more hoppin’ displays – each with mesmerising themes, lights, music, and interactive elements – at Admiralty’s Tamar Park, the Wan Chai Temporary Promenade and Tsim Sha Tsui’s Hong Kong Cultural Centre.
2. Hop On Auspicious Harbour Tours
On the first day of Chinese New Year, it’s customary to usher in luck and prosperity by spending time outdoors. Visitors can embrace the tradition with a scenic Victoria Harbour cruise aboard a historic Star Ferry. Along the way, try to catch the Lucky Rabbit hiding on the ferry! Accrue more good fortune by exploring the Chinese New Year-themed harbourfront checkpoints in different ways, like a sightseeing tour on the antique Duckling junk boat or a pedal-boating adventure at the Wan Chai Water Sports and Recreation Precinct.
3. Experience Unique Hong Kong Chinese New Year Traditions
The Year of the Rabbit marks the return of many authentic Hong Kong Chinese New Year customs for visitors to enjoy! Among the must-try experiences, head to the Chinese New Year flower markets for festive shopping and take in good fortune as blooms signify wealth in Chinese culture.
Besides, stock up on luck at the Chinese New Year Raceday in Sha Tin, where epic horseraces, lion dance performances and holiday décor await. The energised activity can bring you a lucky start to the year with full power!
The Hong Kong Well-Wishing Festival in Lam Tsuen is another age-old Chinese New Year tradition. Simply jot down wishes on a notecard, tie it to a mandarin and toss it into a legendary tree. If the fruit catches a branch, the wishes may come true.
4. Indulge in Classic Dishes with Modern Twists
A time for connection, Chinese New Year brings families together over delicious meals symbolising longevity, fortune and wealth. Year after year, Hong Kong restaurants reinvigorate traditional Chinese New Year dishes with fresh ideas.
This year, Green Common has reinvented poon choi (or “prosperity stew” made with meat, seafood and veggies) using only plant-based meat alongside vegetarian ingredients. Meanwhile, Häagen-Dazs has transformed traditional nin gou (a sticky rice cake representing prosperity) into a Chinese New Year ice cream cake, which also comes with another option of a Chinese candy box (meaning togetherness and perfection).
5. Give Creative Gifts of Good Fortune
Throughout Chinese New Year, Hong Kong people bring gifts to family gatherings to spread goodwill and fortune with loved ones. Putting a spin on tradition, Dang Wen Li by Dominique Ansel has crafted mochi buns in the shape of mandarins – a symbol of good fortune – alongside a gift box brimming with sweet delicacies, which features a centrepiece decoration of a cute rabbit. On the other hand, The Cakery is whipping up adorable rabbit-themed fondant cookies that are perfect for the Chinese New Year.
Thailand a beacon of hope for investors in emerging Asian markets: seminar
TUESDAY, JANUARY 17, 2023
Nongluck Ajanapanya
Thailand remains a safe haven for investors looking to capitalise on some profitable opportunities among Asia’s emerging markets this year amid global economic uncertainty, a group of Abrdn experts said.
The United Kingdom-based global investment company hosted a seminar titled “2023 Global Outlook: Embrace the Perfect Storm” in Bangkok on Tuesday.
Darunrat Piyayodilokchai, Abrdn’s head of equities Thailand, explained the Thai equity market’s upbeat outlook to three key positive factors: strong economic recovery momentum; supportive foreign information fund, especially from the tourism industry; and a short-term catalyst, such as the general election in May.
“This year, tourism will be critical to Thailand’s growth. Tourist arrivals in 2023 have been revised from 20-22 million to 25-28 million. Every million people contributes 0.3% to the country’s gross domestic product (GDP). So, tourism will contribute approximately 1-1.75% to GDP this year, helping to offset the export sector, which tends to slow with global recession,” she stated.
Despite the global recession, export slowdown, high costs, earnings decline, political tensions, foreign exchange volatility, and the impending implementation of a local financial transaction tax in May, Darunrat believes Thailand would be able to manage the risk.
Thailand will be one of two Asian countries with higher growth in 2023 than in 2022, according to Abrdn. The country’s growth rate is expected to increase to 3.6% this year, up from 3.3% last year.
Pongtharin Sapayanon, Abrdn’s head of fixed income and asset allocation Thailand, suggested that of all asset investments (equities, fixed income, bonds, real estate, commodities, and foreign exchange), Asia’s emerging market is preferable due to the region’s positive growth and China’s reopening.
However, investors must be selective and conservative. This means they must carefully consider the fundamentals of each asset, such as corporate profitability, investment grade bonds and credits, commodity demand and supply balance, and a long history of consistent dividends, he explained.
(From left) MC, Jeremy Lawson, Pongtharin Sapayanon, Darunrat Piyayodilokchai and Nicholas Yeo
Aside from Thailand, Abrdn recommends that Thai investors look for opportunities to grow their portfolio in China.
According to Nicholas Yeo, Abrdn’s director and head of equities, the property sector and Covid-19 may be two factors holding China back, but the easing of its policy after its post-Covid reopening, rapid development of its own innovation, and significant revenue growth reliant on the domestic market make Asia’s largest economy promising.
He emphasised that China is investible, but it takes time and expertise.
China is one of the few major economies that does not experience inflation. Flexible government policies can be implemented, he noted.
Meanwhile, there is an opportunity for equity in China because 62% of the country’s household pension allocation is heavily invested in real estate, which is a risky investment. Hence, China is encouraging its people to shift from real estate to the capital markets (equities and fixed income).
Jeremy Lawson, Abrdn’s chief economist and head of research institute, said the global economy is still facing multiple and reinforcing headwinds this year, particularly recession, inflation, and geopolitical tensions.
According to him, inflation will be the most worrying and troubling factor when it becomes more persistent as a result of labour market tightness, wage growth, and higher expectations.
This scenario will force major central banks, particularly the US Federal Reserve, to keep raising interest rates in order to halt inflation and contain it at the 2% target. The continued hike in interest rates may result in a slowing of business activity and, eventually, cause a recession.
Although the inflation peak has already passed, Lawson warned that core inflation (excluding food and energy prices) is likely to be stickier, forcing central banks to continue to tighten policy in 2023, making the next 12 months globally occupied with recession.
However, there are some opportunities for investors during this global downturn. Lawson suggested gradually increasing exposure to high-paying companies, then take advantage of alternatives that are truly uncorrelated to traditional equity and fixed income markets, and to not overlook China.
Some 4,000 Chinese business leaders to meet in Bangkok: WCEC
FRIDAY, JANUARY 13, 2023
Around 4,000 Chinese business leaders and entrepreneurs will attend the 16th World Chinese Entrepreneurs Convention (WCEC) in Bangkok from June 24-26 at Queen Sirikit National Convention Centre.
Thailand, Singapore and Hong Kong are the founding members of WCEC. The founders take turns in hosting WCEC around the world every 2 years.
Thai-Chinese Chamber of Commerce hosted the 3rd WCEC for the first time in 1995. After 27 years, WCEC has become the forum connecting Chinese entrepreneurs from all over the world in promoting international cooperation.
Narongsak Putthapornmongkol, president of the Thai-Chinese Chamber of Commerce, said that the 16th WCEC meeting will be held in Bangkok for the first time since the Covid-19 pandemic.
WCEC had successful meetings 15 times. This meeting will look into trade opportunities in Thailand while discussing the Regional Comprehensive Economic Partnership (RCEP), the Eastern Economic Corridor (EEC), in addition to Belt and Road Initiative (BRI).
Narongsak said that in the past two years, the Covid-19 pandemic created uncertain situations and has impacted the world’s economy as well as the business of the Chinese globally.
He said, “We are ready to push the development of global Chinese entrepreneurs in this digital age, cooperating in various fields and promoting trade between Thai entrepreneurs and the world, linking investments and creating a future with Chinese business owners around the world to restore Thai’s and the world’s economy.”
According to Kasikorn Research Centre, Chinese tourists are expected to reach 5 million or 42% of the total Chinese visitors to Thailand in 2019.
The increase in tourists will begin in the second quarter and even more, will arrive in the second half of the year because of more flights and increased packaged tours.
Thailand’s economy, tourism and business will be boosted especially if Thailand will be chosen as one of the leading countries in revitalising travelling on large scale.
The Chinese usually travel during the summer school break in July-August and during the Chinese national day of the people’s Republic of China from 1-7 October every year.
Airbnb and TAT support digital nomad travel rebound with Live and Work guide
THURSDAY, JANUARY 12, 2023
The rise of remote working is a growing opportunity for countries and regions, and one that Thailand is capitalising on with a unique partnership between Airbnb and the Tourism Authority of Thailand.
Looking to attract more remote workers and long-term travellers to Thailand, both parties today co-launched a dedicated ‘Live and Work in Thailand’ digital information guide that is now live at https://www.airbnb.com/liveandworkanywherethailand.
With Thailand targeting 20 million international arrivals this year and Bangkok currently ranking #5 on top trending travel destinations globally on Airbnb in 2023, tourism and long-term stays (stays longer than 28 days) remain key to the country’s economic recovery.
Notably, Airbnb data in 2022 showed rapidly growing interested in long-term stays across the country – nights booked for long-term stays in non-urban areas approximately doubled in Thailand in Q2 2022, up from Q2 2019 pre-pandemic.
While Bangkok, Phuket and Chiang Mai usually rank as the top searched destinations for long-term stays, destinations outside major metropolitan hubs – namely Koh Pha Ngan, Koh Lanta and Krabi – were also popular for long-term stays in Q2 last year.
Airbnb and the TAT’s new ‘Live and Work Anywhere‘ guide aims to provide key information for remote workers, including digital nomads, who are aspiring to live and work in Thailand – including practical information on the country’s economy and infrastructure, affordable living, culture and heritage, and tips on travel and leisure.
The guide also includes resources for long-term visas, tax information and language. It highlights the variety of long-term stay options available including on Airbnb, and showcases cities currently popular with remote workers as well as lesser-known but equally compelling options, making the guide an essential one-stop resource for anyone interested in remote working from Thailand.
Yuthasak Supasorn, Governor of the Tourism Authority of Thailand, said, “The Tourism Authority of Thailand (TAT) is delighted to partner with Airbnb on this global initiative to publicise Thailand as a premier destination for digital nomads and remote workers. Many Thai destinations, including Bangkok and Koh Pha Ngan in Surat Thani province, have already ranked worldwide as top hotspots for digital nomads, and we are committing to promoting this priority as part of our ‘Visit Thailand Year 2023: Amazing New Chapters‘ campaign. Together, we will continue working to drive Thailand towards a more Sustainable and Responsible Tourism“.
Mich Goh, Airbnb’s Head of Public Policy for Southeast Asia, India, Hong Kong and Taiwan, said, “Thailand is one of the top choices for remote workers and digital nomads across the globe, who are looking for more flexibility in where they live and work. In partnership with the Tourism Authority of Thailand, we support the growth of long-term travellers keen to live and work in Thailand, while driving tourism and economic benefits to more destinations and local communities across the country.”
Airbnb recently launched a Host Guide with tips for Hosts on how to support remote workers. The global company has also published Airbnb’s Guide to Live and Work Anywhere: How Communities Can Benefit from Remote Workers, a guide for governments and destinations outlining recommendations for how communities can benefit economically from the rise in remote workers. The guide is based on Airbnb’s insights, data and experiences in partnering with 20 destinations worldwide, including Thailand, that are embracing the potential of remote work, as well as a review of global remote worker programs.
SET unveils strategies to further develop capital market
TUESDAY, JANUARY 10, 2023
The Stock Exchange of Thailand (SET) will sustainably boost the country’s capital market competitiveness in the next three years (2023-25) to ensure benefits for all sectors.
The SET also aims to promote all groups of entrepreneurs and investors, attract new industries and promote fundraising by issuing digital tokens, SET president Pakorn Peetathawatchai said on Tuesday.
He expects Thailand’s capital market to face volatility amid uncertainty in the global economy, high inflation and geopolitical risks.
Pakorn said the SET has implemented four strategies to develop Thailand’s capital market in the next three years through:
▪︎ Simplifying the process to enable small, medium and large business enterprises to raise funds in the market.
▪︎ Improve capital market standards and boost the efficiency of the investment system and cybersecurity, as well as modernise trade regulations to meet market conditions.
▪︎ Create opportunities by applying data analysis function to further develop the capital market.
▪︎ Adhere to sustainable development by training capital market personnel and creating awareness on financial literacy among retirees and low-income people.
“The SET expects that the four strategies would help boost Thailand’s capital market growth, such as expanding opportunities in fundraising and investment among entrepreneurs and investors,” Pakorn added.
Asean poised for starring role in global economy this year: UOB
SUNDAY, JANUARY 08, 2023
Nongluck Ajanapanya
Key Asean economies will be among the few globally to show impressive growth this year, as the world economy slips into slower growth or a recession, according to a recently published report by one of the largest banks in Southeast Asia – Singapore-headquartered United Overseas Bank (UOB).
“Fundamental factors are supportive of [key] Asean economies to defend against the uncertain environment ahead in 2023, as risks loom for economic recessions in the US, UK and Europe, tightening financial conditions, further straining of US-China relations and Russia-Ukraine conflict,” the report says.
The key Asean economies it refers to are its six most developed: Thailand, Singapore, Vietnam, Indonesia, Malaysia and the Philippines.
Enrico Tanuwidjaja – lead author of the UOB report, and its senior vice president for global economics and markets research at its Indonesia unit – told Nation Thailand that 10 “fundamentals” would help the six key Asean countries weather global turmoil and withstand volatility.
Tanuwdidjaja said they are:
1. Strong momentum from the post-pandemic recovery
2. Output rising above pre-pandemic levels
3. Robust trade
4. Tourism recovery
5. Benign inflation
6. Supply chain shifts
7. Healthy investment inflows
8. Ample foreign reserves
9. Ability to pay imports
10. Low level of short-term debt
Asean rebounded strongly in the second half of last year as Covid-19 restrictions were lifted, Tanuwidjaja said. Surging exports, along with increased domestic consumption, drove economic growth, he said.
At the same time, inflation in Asean – and most of Asia – has been, in general, lower than in most developed markets because consumer prices are partially cushioned by administrative measures, Tanuwidjaja said.
Some Asean economies also benefitted from access to domestic supplies of energy, minerals, and agricultural products in 2022, the economist said.
“This means that regional central banks’ policy tightening [has been] less aggressive than the [US] Fed’s, giving the economy more room to expand,” he explained.
Tourism will be the mainstay of some Asean economies this year because China has relaxed its zero-COVID policy and is reopening its borders, he added.
“It will provide a further boost to tourism-related sectors, such as retail, food and beverage, transportation, and lodging throughout Asean. Thailand, Malaysia, Singapore, and Vietnam typically benefit the most [from Chinese tourism],” Tanuwidjaja told Nation Thailand.
Southeast Asia is also benefitting from a shift of supply chains from China to the region that is accelerating due to rising tensions between Washington and Beijing, he said.
These structural shifts will be driven by US efforts to counter China, and will include drawing supply chains back to the US and “friendshoring,” which refers to shifts of supply chains to countries with friendly ties to Washington. The structural shift to the world economy caused by de-globalisation and regionalisation of supply chains will benefit Asean by increasing manufacturing in the region and boosting exports, Tanuwidjaja said.
Supply chain shifts are also accompanied by investment inflows, resulting in an increase in foreign direct investment (FDI) to the region as businesses establish manufacturing plants, warehouse facilities, distribution networks, and other facilities, the economist added.
FDI into Asean increased by 44% in 2021 to a record US$ 175.3 billion, according to the UOB report. Asean is the world’s third largest destination for FDI, trailing only the United States and China, the report notes.
It says that despite a depletion in foreign reserves over the past year due to the strengthening US dollar, the amount of reserves held by central banks is far higher than in 1997 – when the region experienced a financial crisis. These reserves will continue to act as a cushion against large capital outflows, Tanuwidjaja explained.
The ability to pay for imports is another indicator of confidence in Asean’s key economies, he said.
“Most Asean countries have more than enough reserves to cover three months of imports, which is considered an international ‘rule of thumb’,” he said.
They also have relatively small amounts of short-term external debt relative to reserves, except Indonesia and Malaysia, Tanuwidjaja said.
This puts Asean countries in a good position to withstand pressure from a strengthening US dollar and rising global interest rates, he explained.
UOB concluded that global GDP growth rates would be lower in 2023 than last year. Full-year declines are expected in developed markets such as the United States, Europe, and the United Kingdom, while ASEAN’s key economies are only expected to slow to less than 5% in 2023, down from more than 6% in 2022.
Clouds over Thai economy
Although Thailand is one of the few countries with high potential for economic growth in a year of global uncertainty, its challenges outnumber its advantages in 2023, Tanuwidjaja said.
Tourism will help Thailand meet or even exceed its growth targets in 2023, but its exports will lag those of its neighbours, while national output has yet to return to pre-COVID levels, he said.
His forecast was supported by Somprawin Manpraser, chief economist of the Economic Intelligence Center (EIC), Siam Commercial Bank, and Amonthep Chawla, chief economist of CIMB Thai.
Somprawin compared Thailand’s economy to a cloudy day.
Tourism will contribute significantly to recovery, but inflation, the global recession, and political uncertainty inside and outside the country can easily stifle growth, he said.
“So, Thai businesses and people must be aware of and prepared for unexpected situations. We need a backup plan. We must also use this recovery period to identify new economic boosters and to upgrade our human workforce,” Somprawin said.
Amonthep warned of currency speculation and prolonged inflation that would force western central banks, led by the US Federal Reserve, to keep raising interest rates.
He said this would reduce the number of tourists visiting Thailand and curb international spending.
He urged the government to address labour shortages in the service industry, which impede growth.
“Tourism will spur Thailand’s growth this year, but not enough to sustain it in the long run. We must develop a new business model,” he said.
Amonthep added that training Thai people in digital literacy and soft skills to nurture high-value emerging sectors and the green economy – sometimes referred to as the “S-curve economy” in Thailand – would undoubtedly help the country grow sustainably.
Banyan Tree Veya Phuket makes well-being easy for beginners
FRIDAY, JANUARY 06, 2023
It is the crack of dawn and my eyes are tightly shut. But instead of being snuggled up in bed, I am attempting – in vain – to walk barefooted in a straight line on a beautifully manicured lawn without sneaking a peek.
Even as I struggle to keep my balance, I quickly notice that my sense of touch has been heightened and I can feel every blade of dewy grass and the grainy texture of the soil beneath my feet.
I am doing “conscious grounding” at Veya Phuket, the new brand extension of Banyan Tree resorts. Launched in March 2022, this 12-villa property is the first wellness-centred resort by the home-grown hospitality group.
While it is situated in a tranquil enclave within the Banyan Tree Phuket resort grounds, guests at Veya have exclusive access to extra facilities including a well-being centre and a traditional herb farm-pharmacy where workshops are conducted.
They also have a separate gym and swimming pool for a more intimate experience.
Post-pandemic, the group itself has been on somewhat of an expansion binge, with two new hotel brands – Garrya, a contemporary well-being-centred concept, and Homm, which aims to evoke the homely, local atmosphere of a residential property.
Garrya has properties in Koh Samui, Huzhou, Kyoto and Xi’an. Homm can be found in Bangkok, Huzhou and Phuket.
There are also upcoming Veya resorts planned in Valle de Guadalupe, Mexico, and Ilha Caldeira, Mozambique.
Veya Pool Villa at Banyan Tree Veya Phuket. PHOTO: BANYAN TREE VEYA PHUKET
Back in Phuket, during my seven-minute grounding walk, I am surprised to discover that my “monkey mind” has stopped drifting with trivial thoughts, at least temporarily. It is one of the sessions that well-being practitioner Henba Laishram had recommended during a personalised consultation.
He explains that the line-up of activities – which include yoga and circuit exercise classes, aromatherapy room spray and massage oil workshops, meditation sessions and nutrition talks – are conducted at an approachable beginner’s level.
In this scenario, guests who are still new to the concept of self-care and well-being can sample an array of healthy practices that they can continue practising even when they check out.
Select activities are complimentary with the stay, while paid sessions cost 1,000 baht (S$39) each.
The concept fills a gap in the burgeoning wellness travel market, where retreats often focus on guests who are more accustomed to well-being practices.
Such retreats generally involve intensive exercise schedules, strict meal plans or “detox cleanses” and even esoteric treatments such as hydrotherapy or intravenous vitamin infusions that may be intimidating to newbies.
At Veya, the softer approach means guests may pick and choose freely from the range of activities so they can be as involved – or relaxed – as they wish.
That is a good thing because you will want to allocate sufficient time to enjoy the newly built Veya villas.
The spacious digs evoke a similar tropical resort vibe that Banyan Tree pioneered in the early 1990s but in a more contemporary style featuring minimalist furnishing and a colour scheme of light oak and mint green.
The on-site all-day Veya eatery makes it easy to eat well without feeling deprived with a plant-forward, seafood-leaning menu. PHOTO: BANYAN TREE VEYA PHUKET
Among the highlights are the generously sized private plunge pools and heated tubs in each villa, which are atmospheric for an after-dark soak while moon and star gazing.
What I appreciate most is how the villas are specially designed to foster a good night’s rest with luxuriously soft organic cotton bedlinen, black-out curtains and even a sleep light thoughtfully placed close to the floor to prevent beams from shining directly into one’s eyes.
In a nod to the wellness theme, the villas are equipped with a Tibetan singing bowl, yoga mat and exercise stretch bands for guests. I have every intention to use them on my private deck, but never do because I sleep so well every night and have to hit the snooze button repeatedly each morning.
However, I manage to rouse myself to try various activities, including a solid pilates core exercise class and a circuit-style “fat blast” workout which can be customised to a higher intensity for those so inclined.
My favourite is a soothing sound bath session where a practitioner creates harmonious hums and vibrations by using specially tuned metal bowls that lull me into a state of deep relaxation.
Alternatively, one cannot go wrong with spa sessions, which are conducted in private villas amid a tropical garden – a style popularised by Banyan Tree.
During my Signature Purposeful Massage (5,500 baht for 60 minutes), the brand’s famed therapists work their magic to soothe and rejuvenate my tense muscles.
The on-site all-day Veya eatery makes it easy to eat well without feeling deprived with a plant-forward, seafood-leaning menu.
For instance, breakfast comes with a tower of fresh bake and salad to encourage a balanced diet, while dishes for lunch and dinner, such as my favourite seared scallops (475 baht), are served with a generous portion of fresh greens.
That said, nobody will be made to feel guilty for indulging – there is organic wine on the menu and guests are free to dine at other eateries, including Banyan Tree’s excellent Thai restaurant, which is a two-minute walk away.
The resort is itself situated within the 300ha Laguna Phuket where the group’s other properties – including Angsana, Cassia and LagunaHoliday Club – are located.
Once an abandoned tin mine, the site was bought by Banyan Tree Holdings founder and executive chairman Ho Kwon Ping in 1984 when he was looking for a place to build a holiday home with his wife Claire Chiang.
The group invested heavily in revitalising the natural environment and, today, the regenerated lagoons are habitats for aquatic flora and fauna.
Tip: To fully enjoy the tranquillity of the lagoons, hop onto a free half-hourly ferry service for a ride around Laguna Phuket, which has stops at various locations, including the beach bar Xana.
At the other end of Laguna Phuket, keep a lookout for the soon-to-launch Ori9in Gourmet Park, which has a farm-to-table picnic cafe, fresh food market as well as a nature trail with a dog run and viewing decks.
Or to venture further afield, the town of Phuket is a 30-minute ride away via a shuttle bus service available at the lobby of Cassia.
In my current state of new-found zen, I decide to make my way to Bang Tao beach instead. This 3km stretch of white sandy shores is barely a 10-minute walk from Veya and is a popular gathering spot for locals and travellers alike.
It used to be lined with small beach shacks but had recently been cleared out by the authorities.
While some old-timers may bemoan the loss of “character”, for sunseekers hankering after some peace and quiet, this is possibly as close to untouched paradise as one might hope to get in these modern times.
That evening, as I gaze at the endless horizon, the setting sun setting the sky on fire, I am pretty sure I finally get a taste of that elusive sense of inner peace that many people have been seeking by signing up for this retreat.
(From left) MC, Jeremy Lawson, Pongtharin Sapayanon, Darunrat Piyayodilokchai and Nicholas Yeo
Veya Pool Villa at Banyan Tree Veya Phuket. PHOTO: BANYAN TREE VEYA PHUKET
The on-site all-day Veya eatery makes it easy to eat well without feeling deprived with a plant-forward, seafood-leaning menu. PHOTO: BANYAN TREE VEYA PHUKET
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