The baht opened at 36.58 to the US dollar on Friday, strengthening from its previous close of 36.62.
The currency is expected to move between 36.45 and 36.70 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.
Poon said the baht was likely to fluctuate and weaken as the dollar advanced and amid investors’ concerns that China might enforce more lockdown measures.
However, if information on China’s economy is better than expected and supports the market to open to more risks, the weakening of currencies in Emerging Asia might slow down.
He added that the baht’s new resistance level is 36.70 to the dollar.
Poon suggested investors beware of volatility before the US inflation information is revealed later in the day as it might affect investors’ opinion of the US Federal Reserve’s direction.
He believes investors’ uncertainty over the Fed’s plans is likely to spark a fluctuating market.
He advised investors to use hedging tools such as options to manage risks in the highly volatile currency market.
Thailand’s export of gems and jewellery has risen in May, thanks to countries reopening and the weakening baht, the Gems and Jewellery Institute of Thailand (GIT) said on Thursday.
GIT deputy director Sumed Prasongpongchai added that many countries are ordering more Thai goods. However, he said the export of gold has dropped due to a decline in the price of the precious metal.
Thailand’s export of gems and jewellery in May was US$757.48 million (27.63 billion baht), up 69.70 per cent year on year, he explained. However, he said the export value, including gold, in May was $1.01 billion (36.86 billion baht), down 7.03 per cent year on year.
He said the export of gems and jewellery between January and May this year was $3.28 billion (119.74 billion baht), up 46.90 per cent year on year. The export value including gold in the first five months was $7.58 billion (276.72 billion baht), up 113.96 per cent year on year, he added.
Sumed explained that many of Thailand’s major gems and jewellery export markets have expanded, including the US (53.53 per cent), India (158.21 per cent), Hong Kong (7.6 per cent), Germany (16.61 per cent), United Kingdom (73.52 per cent), Switzerland (123.88 per cent), United Arab Emirates (17.95 per cent), Belgium (35.86 per cent), Italy (103.97 per cent) and Japan (10.74 per cent).
Exports of major products have increased, such as silver jewellery (13.95 per cent), gold jewellery (61.79 per cent), polished diamonds (70.70 per cent), rough gems (43.49 per cent), polished hard gems (91.37 per cent), polished soft gems (60.80 per cent), artificial jewellery (34.81 per cent) and scraps made of precious metals (38.28 per cent), he said.
However, he said export of platinum ornaments and rough diamonds had dropped by 14.82 per cent and 22.04 per cent, respectively.
Sumed Prasongpongchai
Sumed expected the export of gems and jewellery to rise further as many countries have reopened. The weakening of the baht has also helped boost Thailand’s competitiveness.
However, he said people’s purchasing power would be under pressure due to the Covid-19 crisis and the Russia-Ukraine war’s impact on fuel prices and production costs.
The GIT has continued setting the standard for Thai gems and jewellery, such as promoting the “Buy with Confidence” project and laboratory inspection standards, in order to gain confidence in the industry, he said.
He added that the GIT has also encouraged entrepreneurs to use online channels to boost gems and jewellery sales.
Thailand has exported over a million tonnes of fruits during the first half of this year, generating over 80 billion baht in revenue for farmers, the fruit management committee of the Agriculture Ministry said.
The export figures were reported to the meeting of the so-called “Fruit Board”, or the committee in charge of development and management of fruits, which is ex-officio chaired by Agriculture Minister Chalermchai Sri-on.
The meeting was held on Monday and Chalermchai assigned his adviser, Alongkorn Ponlaboot, to chair the third meeting of the Fruit Board for this year.
Alongkorn said the meeting was informed that exports during the first half of this year was 120,000 tonnes higher than in the same period last year.
The meeting was pleased with the export performance of fruits but the committee was warned to plan ahead to manage longans in eastern provinces, which would be harvested late this year, Alongkorn said.
He said the meeting also approved a project to provide remedy to longan farmers, whose harvest could not be sold mainly because of the Covid-19 pandemic.
Alongkorn said the meeting also resolved to set up two forward commands for managing fruits – one in the South and the other in the North.
He said Somchuan Ratanamangalanon, deputy permanent secretary at the Agriculture Ministry, was appointed as chief of the Southern forward command and Chatree Bunnag, Agriculture Ministry’s inspector-general, as chief of the Northern forward command.
Alongkorn said the two forward commands would work with 22 provincial fruit management committees, which are headed by their respective provincial governors, to solve problems related to fruits that would be harvested during the second half of this year.
He said the Northern forward command would have to particularly deal with longans that would come into the market in the second half.
Alongkorn said Chalermchai has instructed the Fruit Board to speed up the implementation of the five-year development plan for fruits for 2022-27. The plan aims to improve the quality of Thai fruits.
Alongkorn said the Fruit Board would focus on development of production technologies, the processing of fruits, the creation of Thai fruit brands, the use of traceability system of fruits, and efforts to expand both local and foreign markets as part of the implementation of the development plan.
He said the Fruit Board would also study measures to cope with the expansion of durian orchards both in Thailand and other countries that would compete for market share in export to China.
According to Alongkorn, the Fruit Board also made several decisions, including:
• Setting up a committee to be in charge of developing mangosteens and coconuts
• Assigning a subcommittee to implement a plan to comprehensively solve issues related to longan production as proposed in a study, whose results were reported to the Fruit Board on Monday
• Approving a plan to manage 764,777 tonnes of longan expected to be harvested in the northern provinces this year
• Approving a plan to manage 487,459 tonnnes of durians, mangosteens, rambutans, and southern langsats that will be harvested this year.
• Assigning the secretariat of the Fruit Board to draft proposals on how to provide remedy to longan farmers for their harvests in 2021 and 2022. The proposals will be sent to the agriculture minister for sending to the Cabinet for deliberation.
Launches Performance Cycling, fun ride and good health
Dane Cantwell, Country Managing Director at Jetts 24 Hour Fitness (Thailand), said, “Jetts Fitness is open 24 hours and constantly conducting research studies on customer behaviour. It makes us have an in-depth understanding of gym goers’ needs. Most fitness enthusiasts want to take their fitness experience to the next level. They look for inspiration to exercise to achieve their goals. Some people aim to have better health and better personality but some people want to optimize their cognitive brain functioning and mental wellness.
“There is an international research found that after COVID-19 restrictions have been relaxed in many countries, more than half of people in Vietnam (64%), Philippines (61%), and Thailand (56%) want to take better care of themselves so they are engaging more and more with fitness and eating better to live a healthier life. The research revealed that the fitness industry is being triggered by COVID-fatigued consumers who have missed social interaction and motivation from in-person classes. The demand for fitness increases, therefore we must enhance our capabilities and services to meet the needs and expectations of our customers.”
Jetts Black on the 3rd floor of The PARQ Rama IV has Performance Cycling which has stationary bicycles to help exercisers decrease stress but still provide an excellent aerobic workout. Performance Cycling is an efficient and effective way to improve personality, optimize cognitive brain functioning. Indoor cycling is an excellent workout option for burning calories quickly to help exercisers reach their fitness or weight loss goals. It can burns calories and body fat while strengthening legs and also can lead to slimmer legs.
Jetts Black is decorated in dramatic black tone with modern interior design, offers 1,600 square meters of exercise space, studio, playground and cafe. The playground was specially designed for all functional trainings such as group classes and high quality functional fitness equipment with world-class services to serve members. We also maintain cleanliness and operate the highlight hygiene at all times.
Those who are not convenient to access to Jetts Black, The PARQ Rama IV, you can access other 38 clubs both within and outside Bangkok at an affordable price and without lock-in contract, open daily from 06:00 a.m. – 00:00 a.m. Jetts 24 Hour Fitness is the first choice of gym goers who looks for goal-centric gym experiences for active lifestyles after having to endure life during the lockdown for a long time. We provide members workouts that are both fun and fit an exercise routine into their daily life.
BTS Group reinforces the commitment to be a good governance company by being certified by the Thai Private Sector Collective Action Against Corruption (CAC) for 3 consecutive years.
July 12, 2022 — Mr. Rangsin Kritalug, Executive Director and Chief Operating Officer of BTS Group Holdings Public Company Limited, received a certification of the Thai Private Sector Collective Action Against Corruption (CAC) in a ceremony that took place on July 12, 2022 under the concept “Disrupt Corruption with Power of Business Unity”.
The Company has been certified by the CAC for 3 consecutive years since 2018 and the certificate will be valid for three years after the date of issuance. This certification demonstrates the BTS Group’s commitment to conducting business with good governance, integrity, transparency, and anti-corruption in all forms.
The baht opened at 36.24 to the US dollar on Thursday, strengthening from its previous close of 36.28.
The currency is expected to move between 36.15 and 36.35 during the day, predicted Krungthai Bank market strategist Poon Panichpibool.
Poon said the baht was likely to fluctuate and weaken as the dollar advanced and amid investor concern that the Chinese government might enforce more lockdown measures.
Poon expects the baht’s short-term support level to be 35.90-36, and its resistance level 36.5.
The dollar might “invert” if the US Federal Reserve does not signal it would go in for a heavy rate increase in July, he said.
Poon felt that uncertainty over what the Fed would do is likely to lead to a fluctuating market.
He advised investors to use hedging tools such as options to manage risks in the highly volatile currency market.
Kla Party leader Korn Chatikavanij said on Wednesday that the 3-billion baht pledged by PTT Plc to the oil fund would not help bring down oil price sustainably.
Korn, a former finance minister, was commenting on the resolution of the PTT board to contribute 1 billion baht per month to the oil fund for three consecutive months so that the government would have enough cash to continue to provide oil subsidies.
Korn said the Energy Ministry had claimed earlier that it would receive contributions of 24 billion baht from refineries but it has got only 3 billion baht so far.
“The 3 billion baht is far below the 24 billion the energy minister boasted the government has received,” Korn said.
“But doing just this is not the final solution to expensive oil prices. I hope this was the first step towards changes to oil price structure to reduce the burden on the people.”
Korn reiterated that the structural price of oil could be changed by telling oil refineries to reduce their gross refining margin, which was at least 3 baht per litre higher than what it should have been.
“The market price of petrol is also two times higher than what it should have been. If these two factors are reduced, people will get cheaper oil immediately,” Korn said.
Korn had earlier slammed refineries for making huge gains from gross refining margin of up to 8 baht per litre. But the refineries issued a joint statement denying that their margin was that high.
A group of 50 owners of boutique and small hotels in Phuket rallied in Patong area on Tuesday, urging help from the government after their bank creditors threatened to seize their hotels.
They staged the rally at a car park behind the Krung Thai Bank Patong branch to highlight their grievances to Deputy Prime Minister Wissanu Krea-ngam, who is visiting Phuket with an entourage to evaluate the performance of government agencies.
The demonstrators carried banners that small and medium-sized enterprises and small hotels in Phuket were dying because of the Covid-19 pandemic.
Their leaders said they represented some 200 small and boutique hotels in Phuket, which have been affected by the pandemic. They said they did not receive government help because most of them had failed to obtain a hotel licence.
A leader said the pandemic had forced the closure of their hotels so they lacked income and were unable to service their debt to the banks.
He said many of the 200 hotels were seized by the bank creditors and were auctioned off.
“We would like to ask for leniency from banks. Please don’t seize our hotels. Some of the owners have to continue to pay back loans even after their hotels are seized. We would like to seek understanding from the government instead of helping only big hotels,” the leader said.
The group dispersed after a team of officials of Wissanu promised to take up their demands.
The National Broadcasting and Telecommunications Commission (NBTC) on Tuesday resolved to set up another panel after four existing subcommittees ended up in a deadlock over the merger of two telecom giants.
Asource from the NBTC said the telecom watchdog also approved the office’s proposal to extend the period for the study of the merger of True Corporation and Total Access Communication (DTAC) by another month.
The 60-day period for consideration of the merger ended on July 10 and the NBTC extended it to August 11, the source said on Wednesday.
According to the source, the NBTC decided during its meeting on Tuesday to set up a subcommittee on trade competition to study the deal after votes by four subcommittees — on law, on consumer protection and citizens’ rights, on technology, and on economics — were tied 2-2.
The NBTC said that a decision of the new subcommittee would assist the watchdog in making a final and prudent decision.
“Now, that the subpanels have tied 2-2 in their opinions, a subcommittee on trade competition will make the decision more prudently and it will be a decisive vote,” the source said.
So far, the NBTC Office has held three focus group public hearings from academics, the civil sector and consumer groups, and related businesses.
The source said the NBTC Office has not yet finished writing reports on the results of the three hearings for the NBTC to consider.
The source added that the existing NBTC commissioners indicated that they would go ahead in making the final decision on the deal next month without waiting for two new NBTC members to be appointed. The two new members’ qualifications are still being scrutinised by the Senate.
The NBTC source said he could not tell how four other NBTC members would vote but he could sense that all members were worried about the consumers’ interests after the merger, which would result in just two major players in the telecom market – the newly merged firm and Advanced Info Service (AIS),
The source said if the new firm is prohibited from raising monthly fees of mobile phone airtime or internet connection services, it might reduce airtime or connection data or internet speed in return.
Telecom industry observers believe the NBTC is now under higher pressure to consider the True-DTAC deal after AIS itself announced last week its plan to acquire fixed broadband provider Triple T Broadband.
Meanwhile, an academic, Chatchai Tuongboriphan, expressed his opposition to the merger of True and DTAC.
Chatchai said the merger of telecom firms are different from the earlier merger of CP Retail Development with Tesco Stores (Thailand).
Chatchai explained that the merger of two retailers had two markets to play – modern trade and traditional trade — while the merger of telecom firms would affect only one market, causing a severe impact.
Chatchai noted that DTAC has sent out strong signals that it was preparing to exit from the market after its subscriber base fell from second place 20 years ago to third place now. He said DTAC has lost a lot of customers to the two other major players.
He said the merger would result in 47 per cent of market share for AIS and 52 per cent for True and the two key players would eventually stop competing against each other and consumers would no longer receive attractive packages from the two like what they got during fierce competition between three major players.
Bespoke Life Science has launched Thailand’s first cannabis dispensary of its kind, with “cannabis sommeliers” on hand to educate people and make the plant available for medical purposes.
The KANA Pure Dispensary was officially opened in Sukhumvit, central Bangkok, on Tuesday, though a soft launch took place early this month.
“Thailand’s cannabis market right now is quite young and energetic after both marijuana and hemp were legalised,” Prab Thakral, President and Group CEO of Boutique Corporation, Bespoke’s parent company, noted on Tuesday.
“However, misuse has led to misunderstanding in society. Therefore, the country desperately needs to educate people about the benefits of cannabis and how to use it, particularly for medicinal purposes,” he said.
According to Prab, the KANA store aims to be a place that provides a “comprehensive cannabis experience and education” for the wellness of Thais and traditional medicine use.
The dispensary’s entire staff is knowledgeable about the plant, with some being dubbed “cannabis sommeliers” who will provide walk-in customers with all necessary information and clear up disputed facts.
Meanwhile, the cannabis available at the dispensary is premium medical-grade, meaning it is high quality and safe for consumers to use as a healthcare alternative to treat symptoms and conditions such as insomnia, stress, anxiety, Parkinson’s disease and even cancer, Prab explained.
Bespoke Life Science executive director Jakkrit Sirikantraporn said the medical-grade cannabis is the result of the company’s partnership with Rajamangala University of Technology Lanna Nan.
The cultivation facility in Nan is a closed system that allows for complete control over nutrients, carbon dioxide essential for photosynthesis, and light control, which is essential to ensure that medical grade cannabis is harvested and stored free of contaminants, fungi, carcinogens or insects, he said.
The collaboration has resulted in development of 15 high-quality cannabis strains with FDA approval, Jakkrit said.
“We have received FDA certification, including FDA approval for the import of up to 398 seeds from 41 cannabis strains, which means we have the opportunity to release more medical-grade cannabis strains,” he said.
Jakkrit insisted that all KANA products are certified under Central Lab standards.
Meanwhile, Prab acknowledged that he does not expect much sales from the dispensary initially, except for brand awareness.
The company is collaborating with the Department of Thai Traditional and Alternative Medicine under the Public Health Ministry to develop cannabis for medical treatment. Prab also announced a plan to launch the first KANA Wellness Clinic in the third quarter this year, in line with a rising health trend and emerging cannabis market.
The clinic intends to be a place where cannabis can be administered directly as an alternative medicine under the close supervision of certified doctors.
Sumed Prasongpongchai
SootinClaimon.Com 