The baht opened at 35.36 to the US dollar on Wednesday, strengthening from Tuesday’s close of 35.47.
The currency is expected to move between 35.25 and 35.45 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.
Poon said the baht was supported by foreign investors purchasing Thai assets, especially risky ones, with the market in a risk-on state.
However, he warned the baht could become volatile when US retail sales data is revealed and after results of a key Federal Open Market Committee meeting.
Poon said the dollar might strengthen if the market feels the US Federal Reserve will increase the interest rate by 0.75 per cent in its September meeting to tackle inflation head-on.
The baht might swing sideways in a range from 35.10 to 35.60 this week unless a new factor affecting the currency market emerges, he added.
The Cabinet on Tuesday approved an executive decree that would enable the Finance Ministry to guarantee a loan of 150 billion baht to be borrowed by the Oil Fuel Fund.
The executive decree was proposed by Energy Minister Supattanapong Punmeechaow, a source from the Cabinet meeting said.
The decree enables the Finance Ministry to guarantee a loan for the Oil Fuel Fund with a ceiling of 150 billion baht.
The decree states that the Office of the Oil Fuel Fund will be the agency to seek the loan.
Deputy Prime Minister Wissanu Krea-ngam confirmed that the Cabinet had issued the decree.
Wissanu said the decree would later be sent to the Council of State for scrutiny before it would be sent to the House of Representatives for endorsement.
“For the time being, the Oil Fuel Fund will definitely wait for endorsement by the House before it borrows the loan,” Wissanu said.
“The fund will not rush to borrow the money because the loan is not that urgently needed.”
According to the source, the energy minister reported the current financial status of the oil fund to the Cabinet as part of the proposal for the loan guarantee decree.
Supattanapong reported that the fund has accumulated a deficit of 177.394 billion baht as of August 14 — 76.518 billion baht oil subsidy deficit and 40.876 billion baht for LPG gas subsidy deficit.
The Russia-Ukraine conflict had led the fund to accumulate a monthly deficit of 20 billion baht from March to June.
The energy minister said the fund is expected to accumulate a deficit of 200 billion baht by the end of this year if it continues to subsidise oil and LPG at the current rate.
Commerce Minister Jurin Laksanawisit has told the Department of Internal Trade to give careful consideration to a plea by five instant noodle manufacturers seeking permission to increase the price from six to eight baht.
Five instant noodle manufacturers sent a letter to the department’s director-general Wattanasak Sur-iam on Tuesday.
They are manufacturers of several famous brands, such as Mama, Wai Wai, Yum Yum, Sue Sat, and Nissin.
Wattanasak said that he is always monitoring the cost of instant noodle manufacturing and admitted that the cost of several production factors had increased. He thanked manufacturers for retaining their prices since 2021.
However, he said that the department has not allowed an increase in price and will closely monitor the price. If there is any manufacturer who sells above the price, they could face a jail sentence of up to seven years or a fine of up to 140,000 baht.
Wattanasak said that he could not tell when the department would reach a decision as it must consider it carefully to find a balance between manufacturers and consumers.
He said that goods would be considered case-by-case. He admitted that costs have increased but he is evaluating if it was significant enough to increase the selling price.
Pun Paniangvait, manager of Thai President Foods, the maker of Mama noodles, said that manufacturers would like the department to consider their request as soon as possible, as they will focus on exporting more products because exports account for 30 to 35 per cent.
He said that manufacturers earned more profits from export while they lost money from domestic sales.
Pun confirmed that their production was enough as his company was utilising 80 per cent of total manufacturing capacity. He said that there would be no shortage problem if people do not hoard instant noodles.
Jurin said that increasing the price by two baht would be too much, because it would affect low-income people a lot.
He told the department to consider the actual cost and ensure that its impact on consumers was the least possible, while manufacturers could continue production and not consider only exports. He added that the price should also decrease when costs have decreased.
Jurin admitted that several costs have increased such as energy, electricity, gas, shipping, and production factors.
The government should allow manufacturers to increase the price of some consumer goods, the Thai Wholesale and Retail Trade Association said.
The association’s president Somchai Pornrattanacharoen said on Monday that market mechanisms and tight competition only allow manufacturers to increase the price very slightly.
However, he said, the manufacturing costs have been on the rise, and manufacturers should be allowed to adjust their retail prices to survive otherwise only big manufacturers will be left.
In a bid to survive, he said, instant noodle manufacturers will meet with the Internal Trade Department on Tuesday to find a solution because they cannot shoulder surging costs anymore.
He said it would be reasonable to increase the price of instant noodles by a baht or two, especially since the production costs have been rising. The price of instant noodles has remained unchanged for several years.
He added that if the government continues delaying the price adjustment, then manufacturers will need to find other solutions, such as discontinuing some products or creating new products with new prices. Eventually, he said, it is the consumer who will be affected.
Somchai also said manufacturers were also hit by hidden costs like product placement and management fees. Hence, he said, instead of targeting the retail price, the government should control these hidden costs instead.
Its 4 top models show highest volumes in each A.T. category, lead to continuous growth in Thailand’s A.T. segment.
Thai Honda, the leader of Thailand’s motorcycle industry, expects 8% growth or sales of 1.74 million units in 2022 following on positive trend in the first half of the year. The A.T. segment topped the overall best-sellers. Now that the global semiconductor shortage seems to be easing, the company is ready to achieve high productivity to respond to the demands of Thai people, and is targeting 10% growth or sales of 1.359 million units this year to maintain its top ranking in the market for the 34th consecutive year.
Mr. Shigeto Kimura, President of Thai Honda Co., Ltd., stated: “In the first half of this year, the overall motorcycle market in Thailand continued to grow. Of the 911,162 units registered overall or 4% growth compared to the same period last year, Honda accounted for 705,487 units, or 3% growth, which is very close to the overall market. The A.T. segment topped the best sellers with 397,733 units sold, representing 6% growth. Of particular interest is that Honda’s A.T. segment rose by 12% with 279,207 units sold, a significant higher growth rate compared to the overall market.
“The reasons for the popularity of Honda A.T. motorcycles are that they are easy to ride, provide comfort and full functionality and offer a wide variety of designs to meet modern lifestyles. In the A.T. category, the Honda Scoopy topped the fashion A.T. segment with 96,679 units registered. Meanwhile, the Click Series topped the sport A.T. segment 64,732 units registered, with the PCX160 having the highest sales volume in the premium A.T. segment with 77,708 units sold. And finally, among the high premium A.T., Forza 350 is the most popular model with 10,988 units sold.
“These four models of Honda A.T. motorcycles are popular thanks to the unique designs that reflect modern characters and lifestyles, full functionality for comfort and safety, as well as Honda’s powerful eSP+ 4 valve technology.
“The overall market in 2022 is estimated at 1.74 million units sold or 8% growth, compared to 2021. Honda has set a target of 1.359 million units or 10% growth, which is higher than the overall market growth. This is thanks to Honda’s effective spare parts and inventory planning strategy in dealing with the semiconductor shortage during the first half of the year and the marketing activities to boost sales of the new models in the second half of the year to successfully meet the new market demand.”
Apart from the production planning and marketing strategies, in the second half of the year, the Honda Wing Centers are undergoing storefront makeovers with a new modern look. Honda has set a target to renovate 100 branches by end of this year. And to serve the increasing demands of Iconic Bikes customers, Honda is opening CUB House Corners in Honda Wing Centers, the number of which is expected to reach 22 by end of 2022. Meanwhile, after-sales service standard will be upgraded to affirm customer’s confidence with hi-tech equipment and technicians who are masterful with new technology of Honda’s new models.
Krungsri (Bank of Ayudhya PCL and its business units) reaffirms its continuous assistance to all groups of customers to help accelerate their sustainable recovery, in alignment with the measures of the Bank of Thailand (BOT) and the Thai Bankers’ Association (TBA).
Seiichiro Akita, Krungsri President and Chief Executive Officer, said “Krungsri has been assisting all groups of customers through various measures implemented by both the Bank and the government’s policies. With the current situation that the economy has been gradually recovering amid many challenging factors, including inflation that affects the cost of living and doing business, Krungsri strongly affirms its determination to maintain ongoing support for all customers, especially the vulnerable groups. The Bank has closely monitored the situation in order to offer suitable solutions to each customer segment to facilitate their sustainable growth in the long run.”
“For retail customers, Krungsri continues its various alleviating measures, namely reduced instalment amounts and extended instalment period. For business customers, the Bank emphasizes its proactive approach by having teams of relationship managers reach out and work closely with each business customer leveraging measures such as liquidity injection, lower interest rates, extended repayment period, and provision of consultancy so that customers can further sustain and move forward with their businesses.”
Impacted customers who require further assistance can check out more details at http://www.krungsri.com; while affected businesses can reach out to respective relationship managers; or contact Krungsri Business Center at 02-2966262 and 02-6262626.
KBank continues to advance the ‘GO GREEN Together’ project, working with four partners in launching the ‘SolarPlus’ initiative, targeting the installation of solar rooftops for 500,000 households free of charge within five years.
To further implement the GO GREEN Together project, Kasikornbank has teamed with four partners, i.e., Electricity Generating Authority of Thailand, PEA ENCOM Smart Solution Limited, Supalai Public Company Limited, and INNOPOWER Company Limited, to unveil the SolarPlus project to support the Thai public’s use of clean energy.
The first effort of its kind in Thailand, the SolarPlus project aims to install solar rooftops for households for free to allow the general public to generate and sell electricity.
In the initial stage, the project will be implemented at Supalai housing estates.
Targeting installation of solar rooftops for 500,000 households within five years, KBank is prepared to provide a 50 billion Baht in loan facility to solar power developers.
The project is expected to help reduce greenhouse gas emissions by 2.3 million tons of carbon dioxide equivalent per year while encouraging Thais to embrace clean energy in alignment with Thailand’s net zero goals.
Pitpit Aneaknithi, KBank President, said, “To pioneer a comprehensive Green Ecosystem in Thailand, KBank recently unveiled the GO GREEN Together project. We have introduced various products and services to support this project, including a business loan for solar panel installation, Green Home Loan, EV car loans, and EV bike rental service, together with battery charging points at KBank branches. Along with this, KBank has joined with our partners to implement numerous projects encouraging Thais to embrace the green lifestyle with ease.”
In cooperation with four essential business partners, KBank recently launched the SolarPlus project, which aims to promote the use of clean energy among Thai people.
The SolarPlus project has been designed for those interested in solar rooftop installation but is hesitant due to high investment costs, long payback period, and maintenance expenses.
This project is the first of its kind in Thailand to offer residential households free solar rooftop installation for electricity generation and sale.
In addition, the homeowners are not required to invest or pay any maintenance fees while benefiting from a 20-per cent discount on their electricity bills for the electricity generated from solar panels.
Initially, the project will be implemented with Supalai housing estates.
In addition, KBank will provide loans for PEA ENCOM Smart Solution Ltd. for investment in solar rooftop installation and maintenance for the project’s participants and will buy excess electricity generated by the participating households for use in the business group of KBank as part of the Bank’s efforts to shift to clean energy to increase the carbon handprint of the organization.
Khemmarat Sartpreecha, Deputy Governor of Provincial Electricity Authority and Chairman of the Board of PEA ENCOM Smart Solution Ltd., said that the company is a service provider of household solar cell system installation and maintenance, without charging any installation or maintenance fees, and offers discounts on electricity bills to the participating households.
The terms and conditions of electricity fees will be in accordance with the related service agreements, wherein any surplus electricity will be sold to the system at 2.20 Baht per unit or traded under the peer-to-peer energy trading pattern.
The company expects that the SolarPlus project will encourage the public to use more clean energy by installing solar cell systems in their homes, which would not only save on energy costs but would also create a better environment.
The project is hoped to serve as a prototype of peer-to-peer energy trading that will be adopted in the near future.
Tritecha Tangmatitham, Managing Director, Supalai Public Company Limited, said, “The company has always attached importance to the design of residential projects, based on the green approach that focuses on energy-efficient homes. The company has set a target in 2022 to cut our carbon footprint by 25 per cent within the next three years, achieved via our plans to install solar panels at the Supalai Grand Tower Head Office, along with EV chargers at various residential projects nationwide, with the aim of reducing environmental impacts. Such efforts are also intended to support the government policy of reducing greenhouse gas emissions and achieving sustainable development goals (SDGs). To this end, the company has teamed with our business partners, which have a policy of environmental stewardship, and has joined forces with KBank to install solar panels at the Supalai Garden Ville Rangsit Khlong 2 project, which is a low-rise housing project where many buyers have already moved in.”
The solar panel installation program at this housing project will likely attract interest from residents because it helps save energy.
Jiraporn Sirikum, Deputy Governor – Strategy, the Electricity Generating Authority of Thailand (EGAT), said, “Aside from electricity generation and transmission, which is EGAT’s key mission, EGAT has concurrently introduced new energy innovation solutions to meet the consumers’ needs during the digital era. These include offering them easier access to clean energy while emphasizing energy management.
For the SolarPlus project, EGAT has unveiled a peer-to-peer energy trading platform, which has been developed by EGAT’s teamwork and trialled in the ERC Sandbox Phase 1 project to add value to this project. EGAT aims to improve the peer-to-peer energy trading platform to be more user-friendly, thus attracting greater consumer interest. Once that is achieved, EGAT will commercially introduce this platform to meet consumers’ future needs.
Athip Tantivorawong, Chief Executive Officer, INNOPOWER Company Limited, said, “INNOPOWER has promoted access to clean energy. The company offers one-stop services of renewable energy device registration and renewable energy certification (REC) trading. The focus is to increase income for power producers of renewable energy and provide convenience for business operators in achieving the goal of clean energy use “
REC is a mechanism that supports the production and use of electricity generated from renewable energy while also enhancing the capability of sustainable energy innovation development in Thailand.
Pipit noted in closing that the project is planned to expand nationwide, targeting the installation of solar rooftops for 500,000 households within five years. In addition, KBank is prepared to provide 50 billion Baht in loan facility to solar power developers.
The program is expected to help reduce greenhouse gas emissions by 2.3 million tons of carbon dioxide equivalent per year while encouraging Thais to embrace clean energy increasingly.
This will accelerate the rise of a practical green ecosystem in society, thus leading to the achievement of Thailand’s net zero goals.
A campaign against the planned merger of telecom giants True Corp and Total Access Communication (Dtac) over monopoly fears is gaining momentum, with over 15,000 people signing up.
Launched by user “Khun Kuna” seven months ago, the Change.org petition campaign surpassed 15,000 supporters four days ago.
As of noon on Monday, 15,409 people had signed the petition, which has targeted 25,000 signatures.
The campaign calls on the National Anti-Corruption Commission, National Broadcasting and Telecommunications Commission (NBTC) and the Trade Competition Commission to investigate the True-Dtac deal over concern it will lead to a monopoly that damages consumers. It added that the merger would be unfair to Dtac users who do not want to become True customers.
Change.org is one of several channels being used by opponents of the deal. Others include a petition submitted to the Norwegian embassy and a complaint to the Security and Exchange Commission (SEC) against a share buyback from shareholders who disagree with the deal.
On Wednesday, consumer advocates petitioned the embassy in Bangkok, asking the Norwegian government to intervene in the planned deal. Norway’s Telenor is the parent of Dtac, holding 46.7 per cent of its shares.
Last month, the National Telecom Plc (NT) union sent a letter to the SEC asking it to suspend any buyback of shares until the True-Dtac merger is approved by the NBTC.
Prasan Ja-nguleuam, president of the union, said the SEC wrote back on August 3 confirming that the buyback and any other merger-related activity must wait for a green light from the NBTC.
The union’s move followed a July 22 press conference given by the parent firms of True and Dtac, Charoen Pokphand (CP) Group and Telenor respectively. The two firms announced they would buy back shares from shareholders who are opposed to the merger, starting this month. They denied True was launching a takeover, saying the two companies were simply merging to form a new technology firm.
Telenor and CP also insisted that the NBTC has no power to approve or reject their merger but can only impose conditions to govern it.
However, Prasarn argued that under a Central Administrative Court ruling, the NBTC has final authority over approval of the deal.
Prasarn said that NT, which itself was formed from a merger between CAT Telecom and TOT Plc, is a shareholder of Dtac and could face hundreds of millions of baht in damage if the merger goes ahead.
Meanwhile, NBTC appears to have adopted a delaying tactic after the claim it has no power to reject the merger, saying it would order more studies before making a final decision on the deal.
The planned merger is thought to stem from Telenor’s desire to pull out of the region, including Malaysia and Myanmar. Market observers say True sees the deal as a chance to boost its competitiveness against Advanced Info Service, Thailand’s No 1 telecom player in terms of subscribers. They believe Telenor will wait until the merger deal is done before unloading its shares in Dtac.
Meanwhile, True has stepped up its campaign to win public support for the merger by releasing ads, mostly on its TrueVisions subscription TV network. The ads claim the merger will benefit consumers as the two companies would combine their telecom resources and network to provide a better service.
Bangkok, August 10, 2022 – Bitkub NFT, a primary Non-Fungible Token platform in Thailand and Taokaenoi, a famous crispy seaweed snack producer, start the NFT airdrop campaign called “NFT : THE PHENOMENON” in which around 600,000 NFTs will be airdropped on Taokaenoi physical snack package.
Under this campaign, the digital asset will be attached inside physical snack packaging as a redemption code for the customers to redeem. 3 special collections have been designed exclusively for this campaign, namely “Journey of Taokaenoi”, “Journey of Bitkub” and “Idol Yin War 9 Collections”.
The 3 special collections will be randomly enclosed in Taokaenoi’s physical snack package both spicy and classic flavors (30-gram size), available at convenience and department stores in Thailand. In each package, customers will receive a code to redeem the NFT special collection using digital asset wallet (Bitkub NEXT). The campaign will run until November 5, 2022.
After completing specific NFTs collections, you will receive special privileges as follows:
1. Collecting 9 types of Yin-War cards to join the Exclusive Sit in Live Event campaign with Yin-War, the famous actors in Thailand.
2. Collecting all 66 types of cards to join the business pitching campaign with Itthipat Peeradechapan, Founder and CEO of Taokaenoi Food & Marketing and Jirayut Srupsrisopa, Founder and CEO of Bitkub Capital Group Holdings Co., Ltd.
Follow for more news and updates of Bitkub NFT and Bitkub Chain
The baht opened at 35.54 to the US dollar on Tuesday, strengthening from Monday’s close of 35.56.
The currency is expected to move between 35.45 and 35.65 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.
He reckoned that the baht will likely fluctuate and weaken to its resistance level at 35.60 as the dollar is strengthening because the market is demanding safe-haven assets due to concerns about the Chinese economy and other economic factors.
However, the baht’s weakening might slow down if foreign investors buy stocks and short-term bonds.
He suggested that investors should be cautious of the rising volatility of the Emerging Asia market which might pressure the baht because the market is worried about China’s Covid-19 situation.
( LEFT-TO-RIGHT )Tritecha Tangmatitham , Khemmarat Sartpreecha , Pitpit Aneaknithi , Jiraporn Sirikum , Athip Tantivorawong
Last month, the National Telecom Plc (NT) union sent a letter to the SEC asking it to suspend any buyback of shares until the True-Dtac merger is approved by the NBTC.
ms announced they would buy back shares from shareholders who are opposed to the merger, starting this month. They denied True was launching a takeover, saying the two companies were simply merging to form a new technology firm.
SootinClaimon.Com 