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https://www.nationthailand.com/thailand/economy/40023029

Thai companies top Asean on Dow Jones Sustainability Indices for 9th year

TUESDAY, DECEMBER 13, 2022

Thailand has topped Asean on the Dow Jones Sustainability Indices (DJSI) for the ninth consecutive year, with no fewer than 26 companies listed.

Three more Thai companies – Central Retail Corporation, Global Power Synergy, and SCG Packaging – have been added to the global sustainability benchmark this year, the Stock Exchange of Thailand (SET) said on Monday.

Meanwhile, 11 Thai companies were listed on DJSI World, which features the globe’s top 10% of firms in terms of economic, environmental, and social criteria.

The listings reflected the Thai firms’ focus on balancing business and social concerns while creating trust among Thai and foreign investors, the SET commented.

It added that the push for sustainability was also reflected in Thailand gaining most listings in Asean on the FTSE4Good Index and MSCI ESG Universal Index, with 40 and 42 respectively.

SET president Pakorn Peetathawatchai said businesses that operate with ESG (environmental, social, and governance) principles not only shield themselves from crises but also increase competitiveness and trust.

The 26 companies listed on the DJSI are:

1. Advanced Info Service (ADVANC)
2. Airports of Thailand (AOT)
3. Banpu (BANPU)
4. Bangkok Dusit Medical Services (BDMS)
5. Berli Jucker (BJC)
6. BTS Group Holdings (BTS)
7. CP All (CPALL)
8. Charoen Pokphand Foods (CPF)
9. Central Pattana (CPN)
10. Central Retail Corporation (CRC)
11. Delta Electronics Thailand (DELTA)
12. Electricity Generating (EGCO)
13. Global Power Synergy (GPSC)
14. Home Product Center (HMPRO)
15. IRPC (IRPC)
16. Indorama Ventures (IVL)
17. Kasikornbank (KBANK)
18. Minor International (MINT)
19. PTT (PTT)
20. PTT Global Chemical (PTTGC)
21. Siam Commercial Bank (SCB)
22. Siam Cement PCL (SCC)
23. SCG Packaging (SCGP)
24. Thai Oil PCL (TOP)
25. True Corporation (TRUE)
26. Thai Union Group (TU)

The listings take effect on Monday (December 19).

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https://www.nationthailand.com/thailand/economy/40023023

Thai Revenue Dept reclassifying digital tokens

TUESDAY, DECEMBER 13, 2022

The Revenue Department is drafting classification criteria for digital tokens to ensure that tax collection does not hinder digital-asset development, director-general Lavaron Sangsnit said on Sunday.

Certain kinds of digital tokens could be exempted from value-added tax (VAT), while others will not be subject to taxes like other forms of investment, Lavaron said.

He added that the new classification criteria will put each kind of token in a category based on its asset type.

“For example, tokens that can be traded like shares will be treated and taxed like shares. The same goes for tokens that can be used as debentures,” he said.

Lavaron said the classification criteria will also help investors to identify types of utility tokens according to their different uses.

In March, the government exempted VAT and personal income tax deduction on trade of cryptocurrencies and digital tokens until December 31 next year.

The measure aims to support development of infrastructure, payment systems and the digital economy.

Currently the Royal Decree on Digital Assets Business classifies digital assets as either cryptocurrencies or digital tokens.

It defines cryptocurrencies as electronic data units created as a medium of exchange for the acquisition of goods, services or other rights.

Digital tokens are defined as electronic data units specifying the right of a person to participate in an investment, or to acquire specific goods, services or other rights under an agreement between the issuer and the holder.

Separately, the Securities and Exchange Commission is preparing tighter controls on digital assets trading to protect investors after a series of high-profile bankruptcies in the global industry.

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https://www.nationthailand.com/thailand/economy/40023022

Baht weakens slightly as crucial US Fed meeting looms

TUESDAY, DECEMBER 13, 2022

The baht opened at 34.84 to the US dollar on Tuesday, weakening slightly from Friday’s close of 34.79 after the Constitution Day holiday on Monday.

The currency will likely move between 34.75 and 34.95 against the greenback during the day and between 34.50 and 35.20 during the week, Krungthai market strategist Poon Panichpibool said.

Poon cautioned that the baht could fluctuate and weaken amid a possible sell-off of risky assets. Last week saw foreign investors make net sales of 5 billion baht in the Thai stock market.

Poon said the baht would also face downward pressure if the gold price falls and triggers purchases.

For the dollar, he advised investors to look out for US inflation concerns and the US Federal Reserve’s decision on the interest rate at its two-day meeting starting today (Tuesday, US time). Dollar strengthening is forecast if the Fed signals an interest rate ceiling higher than market expectations of 5.25%.

Poon added that the dollar’s strengthening might slow if the European Central Bank and Bank of England continue to raise their rates.

He also advised investors to use hedging tools such as options to manage risks in a highly volatile currency mark.

Related stories

• Revenue Dept exceeds collection target in first 2 months of fiscal 2023
• Baht opens stronger against dollar on Friday but all eyes on US data
• Survey shows public confidence in government’s ability to tackle economic issues

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https://www.nationthailand.com/thailand/economy/40023001

Thailand’s 10 border special economic zones log THB37bn investment

MONDAY, DECEMBER 12, 2022

Thailand’s 10 border special economic zones (SEZs) have drawn investment worth 37 billion baht so far, the government reported on Monday. Infrastructure projects to support business in the 10 SEZs are also 89% complete, government spokeswoman Ratchada Thanadirek said.

Prime Minister Prayut Chan-o-cha is confident the economic zones – located in Tak, Mukdahan, Trat, Sa Kaew, Songkhla, Nong Khai, Narathiwat, Chiang Rai, Nakhon Phanom and Kanchanaburi – will boost development and income for rural people in the remote provinces, she added.

The border SEZs were initiated in 2015 to tap potential for trade and investment from neighbouring countries and the Asean Economic Community. The Board of Investment offers privileges for companies setting up operations in the zones.

Ratchada outlined progress in five aspects of border SEZ development.

– Private investment: Since 2015, private firms have invested about 37 billion baht in the 10 SEZs.

– Infrastructure: Major projects include the construction of the Trat-Hat Lek highway and Highway 211 from Chiang Khan to Nong Khai. Overall, infrastructure construction is 89% complete.

– Development of Treasury Department land: The Industrial Estate Authority of Thailand and private firms have leased special zones in Sa Kaew and Songkhla to build industrial zones that have already attracted investors. Special zones in Trat, Nakhon Phanom and Kanchanaburi have been leased by investors.

– Immigrant workers: One-stop migrant worker management centres have been established in all 10 provinces and approved employment of 508,000 workers from neighbouring countries.

– Centres to aid daily recruitment from neighbouring countries: The centres have facilitated the employment of some 27,000 workers who cross the border back and forth each day.

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https://www.nationthailand.com/thailand/economy/40022999

Survey shows public confidence in government’s ability to tackle economic issues

MONDAY, DECEMBER 12, 2022

The Khon La Khrueng (Let’s Go Halves) campaign has been the most beneficial government scheme, according to a survey by the National Statistical Office (NSO).

Government spokesman Anucha Burapachaisri on Monday said that the NSO had surveyed 6,970 people aged over 15 years, from October 17 to 31, about their opinion on the government’s policies.

According to the survey, the respondents considered the following schemes as most beneficial to them:

• Khon La Khrueng (Let’s Go Halves) – 75.8%
• State Welfare Card – 69.9%
• Electricity Bill relief – 59.2%
• Rao Chana (We Win) – 25.1%
• Mor33 Rao Rak Kan (Section 33 Rao Rak Kan) – 14.8%

The survey also asked about the public’s satisfaction level with the government’s management. The respondents were:

• Mostly satisfied – 7.7%
• Very satisfied – 34.4%
• Moderately satisfied – 41%
• Less satisfied – 14.7%
• Do not satisfied – 2.2%

According to the survey, people aged over 40 years were more satisfied with the government’s management than those aged under 40.

Farmers and people who were house-husbands, housewives, retirees, students, and unemployed people were more satisfied than people in other occupation groups.

The survey also asked about the respondents’ trust in the government tackling economical issues: The respondents were:

• Most confident – 5.8%
• Very confident – 29.6%
• Moderately confident – 40.8%
• Less confident – 20.6%
• Not confident – 3.2%

Lastly, the survey also ranked the top five issues that people would like the government to help with urgently. They chose:

1. Control the price of consumer goods
2. Lower electricity and water bills
3. Solve agricultural problems
4. Solve unemployment
5. Add or improve government schemes

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