GSB earmarks Bt15 billion as soft loans for tourism SMEs
Aug 31. 2020
By THE NATION
The Government Savings Bank (GSB) is offering soft loans to small and medium-sized enterprises (SMEs) affected by Covid-19 in the tourism industry, GSB president Withai Ratanakorn said.
“Two loans are now being granted. One is the ‘Loan for Restoration of Thai Tourism’ with a budget of Bt10 billion. Eligible applicants must be operators or supply chain providers in tourism-related businesses who have been affected, either directly or indirectly, by the Covid-19 outbreak,” he said.
“The maximum loan limit is Bt20 million per customer, whereas GSB will provide loans to commercial banks and state-run financial institutions at 0.01 per cent interest annually, while the institutions will grant the loan to customers at 2 per cent interest annually. This campaign is expected to start by mid-September.
“The other one is the ‘Loan for Tourism SMEs’ with a budget of Bt5 billion. Eligible applicants include operators of such businesses as hotels, guest houses, restaurants, spas, traditional massage parlours and tour guides that have been doing business in tourism field for at least two years,” added Withai.
“The loan limit for each customer is Bt500,000 with fixed interest rate at 3.99 per cent annually and five years repayment plan. This loan will offer a one-year grace period and will require a personal guarantor,” he said.
“We hope that the loan programmes totalling Bt15 billion will help operators of tourism-related businesses to get back on their feet from the impact of Covid-19 and continue their businesses in the new normal era,” Withai added.
Interested people can contact GSB’s SME Call Centre at 02-299-8899.
Do you need to refinance your car? Is it time to save more money or change your terms?
Check out some tips on refinancing your car.
For many of you who have recently purchased a car, it is unlikely you have paid in full for your comfy set of wheels and chances are that you took out a loan. If you are unhappy with your current loan conditions, or would simply like to alter some of the details, you should look into refinancing your car. This can reduce your monthly payments, lower your interest rate, or change the length of your loan to either longer or shorter, depending on your needs.
Of course, you need to be aware that there is much to learn and this article will only cover the basics. If you wish to find out more information, look online for more details.
Well, to start with, many of you might ask: “What is car refinancing?” Simply put, it means you take out a new loan to pay off an existing one, using your car as collateral. This loan is a new contract between you and the lender, with new terms upon which you both agree. These fresh terms, that should better suit your budget, are the main reason people opt to refinance their cars.
New terms include reducing or extending the duration of the loan: lengthen your loan if you believe you need more time for repayments and smaller monthly payments; reduce your loan if you wish to pay off your car sooner. Of course, this means larger monthly payments.
You could also change the amount of the current monthly repayments on the original loan. Refinancing by lowering the interest rate and therefore the repayments is one option, or you could lengthen the loan, or both.
If you choose and qualify for this lower interest loan, you may reduce the total interest paid on completion.
Keep in mind that there is likely to be a transaction fee if you decide to refinance. For those of you who would like to examine the numbers, plenty of online websites offer refinancing calculators that provide you with exact amounts and details.
If you are still undecided, here are some helpful hints to guide you. This process, unlike home or credit refinancing, is relatively quick and easy. No appraisal is necessary, and if there are fees, they are minimal.
The six scenarios outlined below help you decide when you should consider refinancing your car.
1. Look at your current interest rate. If it is over 6 per cent, consider refinancing.
2. Your credit score has improved. This will allow you to have lower interest rates. Check your credit score to see if this applies to you.
3. The current lease on your car is set to expire, and you wish to purchase the vehicle. Fulfilling the terms of a lease usually grants you the option to buy.
4. A drop in interest rates. If rates have dropped since you bought your car, you could save money. Even a drop of 1 per cent could save you a lot of cash over the course of the loan.
5. Your financial situation has taken a turn for the worse. In the event of a financial emergency in which you find yourself struggling to make the repayments you had budgeted for, refinancing can ease this problem by lowering your monthly costs.
6. You currently have a bad rate of interest on your loan. Even a solid credit rating when you purchased the vehicle does not mean you will have a good interest rate on the loan. Many customers are unaware of this fact. Look into this in more detail if you believe it applies to you.
If you decide to refinance your vehicle, shop around first for one that will ultimately work for you. Don’t jump for the first option you find.
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The Government Pension Fund (GPF) is celebrating after its net asset value rose above Bt1 trillion on Thursday (August 27).
Srikanya Yathip, GPF secretary-general, said the achievement reflected expertise in fund management, adding that the GPF will continue to work hard for the benefit of fund members.
Wat Yannawa’s abbot Somdet Phra Maha Thirachan led 10 monks marked the occasion on Thursday with a ceremonial blessing of GPF executives and employees.
The GPF was established under the Government Pension Fund Act, BE2539 (1996) to grant pensions and other benefits for retired civil servants, and encourage them to save money.
Emirates to resume daily Bangkok flights from September 1
Aug 27. 2020
By The Nation
Emirates Airline has announced it is resuming its daily flights to Bangkok from September 1 onwards.
The resumption of flights to Bangkok will expand the airline’s current network to 78 cities, offering travellers from Thailand connections to destinations in Europe, Middle East, Africa and Asia Pacific via its hub in Dubai.
Flights between Bangkok and Dubai will be operated with a Boeing 777-300ER aircraft offering seats in first, business and economy class.
GrabFood voucher for MEA customers who register for digital power bills
Aug 27. 2020
By THE NATION
The Metropolitan Electricity Authority (MEA) is offering a Bt50 GrabFood voucher for customers who apply for its e-billing service via mobile phone or email.
This offer is only available on September 9 as part of GrabFood’s “9.9 Hot Deals” campaign.
“E-billing allows for fast, eco-friendly notification with no use of paper. It also cuts down on the need to visit MEA branch offices and reduces the risk of contracting Covid-19,” the MEA said.
On September 9 from 9am onwards, customers who have applied for the e-billing service can register for a GrabFood discount voucher via the MEA Smart Life application. The first 9,000 registrants will receive codes for a voucher that can be applied for orders worth Bt200 or higher. The vouchers will be valid until March 8, 2021.
For more information, call 1130 MEA hotline, or message @meathailand on Line. The “MEA Smart Life” application is also available for both Android and iOS users.
Get lucky with dtac’s popular ‘personalised lucky mobile phone number’
Aug 27. 2020Dtac chief marketing officer How Lih Ren, left, and Thai numerologist Tossaporn Sritula, widely known as Ajarn Chang
By The Nation
Total Access Communication (Dtac) has seen impressive sales growth of its popular “personalised lucky mobile phone number”, a campaign for which was launched a month ago.
Dtac has been working with popular Thai numerologist Tossaporn Sritula, widely known as Ajarn Chang, since 2005 to predict its customers’ fortunes via their telephone numbers. The practice is no less popular in 2020.
A recent dtac survey found that 74 per cent of Thais attribute lucky numbers to their fortunes in love, finance, friendship and more.
“This year, we have offered our most personalised lucky numbers service yet,” Dtac chief marketing officer How Lih Ren said on August 26. “Our number health check platform provides an all-inclusive computation assessment that covers all aspects of Ajarn Chang’s numerology theory. Our continued partnership with Ajarn Chang has also been strengthened by a comprehensive media plan that offers content tailored for television and new media channels, including a Facebook Live-streamed fortune-telling event.”
Further success was driven by dtac’s recent partnerships with CSC and IT City, two of the largest smartphone and IT retailing chains in Thailand. With more than 300 outlets nationwide, CSC and IT City have dramatically expanded dtac sales channels while increasing the visibility of its lucky numbers project.
A personalised partnership
A worldwide belief dating back thousands of years, numerology reaches different conclusions throughout the region. For example, in China the number 8 is considered lucky because it is homophonous to the word for wealth, while in Japan the same is true for 7, or “nana”. In Hong Kong, 6 is homophonous to the Cantonese word for luck, and in Thailand 9 is homophonous to the word for progress.
“However, to find a lucky number specific to each person, we need to delve into astrology and its relation to the stars,” said Ajarn Chang. “The numbers represent the stars. For example, the sun is number 1 and Jupiter is number 5.”
Ajarn Chang’s 3 theories of lucky numbers
Dtac this year worked with Ajarn Chang on an algorithm that considered each of his three lucky number theories.
The first theory takes its prediction from the sum of all numbers in a 10-digit phone number, which usually falls between 40-60. The second theory determines a person’s luck by the presence of pairs, with the last seven digits being particularly ominous for one’s good or bad luck. The third theory looks to astrology, and a person’s birth date and zodiac sign in connection to the first two theories.
According to Ajarn Chang, there are two types of lucky numbers: those considered generally lucky, and those which are only lucky for particular individuals, or personalised lucky numbers. Dtac’s number health check platform lets users get to know their personalised lucky – and not so lucky – numbers on a rating scale from D to A+. If their current score is low, the user can purchase an available lucky number from monthly packages starting as low as Bt499.
“The personalised lucky number programme helps you access a genuinely lucky number according to my methodology,” Ajarn Chang said. “Compared to a human sales consultant, who might want to sell a number that’s long been available, this platform is impartial. This is an evolution of fortune telling that allows greater accessibility and accuracy. Many of these numbers would certainly fetch five-digit prices on the open market.”
The system narrows down each customer’s personalised lucky number from more than 100,000 that are available to only 10-100.
Whatever network you are subscribed to, dtac has created two websites that lets you check for your own lucky numbers. Dtac subscribers can visit www.dtac.co.th/checknumber and key in all the fields to discover whether their number is compatible with fortune in love, work and money.
Both dtac and non-dtac subscribers can also search for a new mobile phone number manually at http://www.dtac.co.th/searchnumber, or at any dtac service centre nationwide.
Thai industry recovering – but slower than expected
Aug 27. 2020
By The Nation
Thailand’s industrial sector is showing signs of recovery after the manufacturing production index (MPI) rose for three consecutive months, the Office of Industrial Economics (OIE) said.
Thongchai Chawalitpichaet, OIE director-general, revealed that July’s manufacturing production index rose by 3.12 per cent on June. Capacity utilisation was 56.01 per cent, up from 55.07 per cent in the previous month.
However, the MPI also fell by a bigger-than-expected 14.69 per cent in July from a year earlier. Reuters had forecast a fall of just 13.9 per cent in July.
Meanwhile capacity utilisation remains lower than its highpoint in March this year of 67.78 per cent.
“Capacity utilisation hit its lowest point at 51.27 per cent in April this year,” said Thongchai.
The factory output figures showed the industrial sector has bottomed out and begun to recover – provided a second wave of Covid-19 wave does not hit Thailand, he said.
However, Covid-19 and other crises also presented an opportunity for Thailand, he added.
The pandemic in partner countries, the US-China trade war and floods in China had disrupted the global supply chain, resulting in the relocation of production bases to diversify risk.
“This is an opportunity for Thailand to encourage foreign investors to relocate their production bases here for the skilled labour and effective containment of Covid-19,” said Thongchai, pointing to the Eastern Economic Corridor.
He said Thai industry is recovering steadily, with segments such as food and chemicals meeting growing demand and expanding by 2.7 per cent and 0.7 per cent year on year, respectively.
“We expect the industrial sector to return to normal in 2021,” he said.
Industries which expanded well in July this year were as follows:
Beer industry expanded by 24.96 per cent year on year as firms accelerated production to compensate for temporary closure during the lockdown period, and received orders from retailers, restaurants and entertainment venues allowed to reopen.
Chemical fertiliser industry expanded by 48.23 per cent year on year as the demand from farmers increased during the rainy season.
Animal food industry expanded by 9.68 per cent as demand for pet and fish foods grew steadily.
Household appliance industry expanded by 19 per cent as people stayed home during the Covid-19 crisis, while the export of household appliances increased after the countries eased lockdown measures.
Palm oil industry expanded by 14.53 per cent as production increased during the rainy season, and demand for biodiesel and palm oil remained robust.
B Grimm Power added to FTSE Asia Pacific large-cap index
Aug 25. 2020
By THE NATION
Energy generator B Grimm Power (BGRIM) will on September 18 be added to the list of companies on the FTSE Global Equity Index Series Asia Pacific Ex Japan and Ex China in the category of Large Cap Index.
The selection and decision to upgrade BGRIM from the Mid Cap to the Large Cap category reflected investors’ confidence in the company’s performance and business strategy, said B Grimm Power president Preeyanart Soontornwata. It could also enhance the firm’s liquidity and market cap while being selected in the new category was a positive sign for both retail and institutional investors, she added.
BGRIM has also been chosen to join the FTSE4Good Index Series designed to measure sustainability standards, the MSCI ESG index (with a BBB rating), the Thailand Sustainability Investment list (THSI) and the ESG 100 group. The company says the selections reflect B Grimm Power’s strong focus on environmental, social and governance (ESG) principles to create long-term value for all stakeholders.
Covid-19 crisis eats into corporate pay rise budgets: report
Aug 24. 2020
By THE NATION
One-third of Asia Pacific employers have cut their pay rise budgets due to the Covid-19 crisis while others have frozen or postponed salary increases this year, according to Willis Towers Watson, a leading global advisory, broking and solutions company.
Its latest “Salary Budget Planning Report”, covering 3,800 employers across 22 markets in Asia Pacific, shows that one-third of companies (34 per cent) have made changes to their employees’ salaries in response to the Covid-19 crisis. Another 29 per cent of employers are planning or considering actions to manage labour costs or incentivise those who are required to work.
Among those companies that have reviewed salaries, the proportion of those planning a salary freeze this year is six times higher than before the pandemic (23.5 per cent in 2020 vs 5.1 per cent in 2019), while the proportion of companies postponing a salary increase is almost five times higher (13.4 per cent in 2020 vs 2.4 per cent in 2019), the report said.
Compared to last year, 62 per cent of companies plan to continue with their regular review of salary increases for their employees this year (vs 91.4 per cent in 2019).
Pay rise projections for 2021 are more optimistic as employers in Asia Pacific anticipate that salary budgets will bounce back closer to pre-Covid-19 levels at an average of 5.8 per cent next year, the report predicted.
Emerging markets such as Bangladesh, India, Indonesia, Myanmar, Sri Lanka and Vietnam are projecting a stronger rebound of salary increases, indicating strong confidence in the recovery of their economies.
In recent years, the fintech industry has been leading the transformation of traditional financial services companies. From enabling financial transactions to be carried out remotely to facilitating contactless payment and the distribution of government aid during the pandemic, fintech companies have been crucial in supporting the battle to curb
Covid-19 infections in many countries. This has kept the sector’s salary increases ahead in most markets, the report said.
On the other hand, the report shows a decreasing salary budget in the energy and natural tesources industry. The Covid-19 outbreak coupled with the oil price crash and the economic recession present an enormous challenge for the sector, which leads to a lower projected salary budget for next year (3.7 per cent in 2021 vs 4.4 per cent in 2020),
“In the next 12 months, organisations are likely to create more jobs in functions such as sales, engineering and information technology. Compared to last year, job opportunities in IT functions have exceeded technical skilled trades, a reflection of the increased digital transformation of businesses,” Edward Hsu, business leader, rewards data and software, Asia Pacific, Willis Towers Watson, said.
“In addition, we are seeing more companies putting a greater emphasis on their IT resources and departments. This could be due to the increased focus on their IT infrastructure caused by the prevalence of remote working adopted by companies as a result of the pandemic, leading to a rise in demand for more jobs in this function,” Edward added.
CPALL, operator of 7-Eleven and ALL Online as well as a major shareholder of Siam Makro, plans to issue four series of debentures in the Thai currency.
The first four-year-nine-month-one-day series will be offered to the general public as well as CPALL’s existing debenture holders, while the other three series will be offered to institutional or high-net-worth investors.
The series are expected to be released on September 21-22, 24-25 and 28.
This proposed issuance has been given an AA- credit rating by TRIS Rating.
Bangkok Bank, Bank of Ayudhya, Kasikornbank, Siam Commercial Bank and Kiatnakin Phatra Securities have been appointed as joint lead arrangers.
Kriengchai Boonpoapichart, CP All Public Co Ltd’s chief financial officer, said the debentures on offer are unsubordinated and unsecured.
The first series will be offered at a fixed interest rate of 3 per cent per annum, while the second nine-year-seven-month-14-day series will come at a fixed interest rate of 3.4 per cent per annum. The coupon rate of the two-year-five-month-17-day and 15-year series will be announced later.
Dtac chief marketing officer How Lih Ren, left, and Thai numerologist Tossaporn Sritula, widely known as Ajarn Chang 
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