The Fuel Fund Executive Committee voted on Wednesday to retain retail diesel oil price at THB32 per litre until May 22, a senior official said.
Kulit Sombatsiri, permanent secretary at the Energy Ministry, said the committee also retained the policy of managing the retail price in the range of THB32 to THB35 for as long as possible.
Kulit said the reduction of diesel excise tax by THB5 per litre for two months would help the committee in its management of the retail price to prevent it rising above THB35 per litre.
On Tuesday, the Cabinet approved a deeper cut in excise tax on diesel from THB3 to THB5 per litre for two more months after the current THB3 cut expires on May 20.
The Finance Ministry has projected that the subsidy would cost the government not more than THB20 billion in projected revenue. The government is using excise cut to try to stabilise the retail price of diesel, so that people would not be affected by the rising cost of transportation, which could inflate manufacturing costs.
Despite repeated protests by truckers, the government had earlier decided to cancel the capping of the retail price at THB30 per litre because its Oil Fuel Fund is bleeding and is almost dry.
Everyone was born with a pair of eyes; how can we keep them healthy and maintain our vision for as long as possible?
Have you ever tried covering one eye at a time to detect any visual problems? In case you haven’t, join us in doing this basic eye examination during Roche Thailand’s Life Talk Series III “Window to Change” on Saturday May 21, 2022 from 7pm onwards.
Thanapong Somkijrungroj, MD (ophthalmologist) is going to show you some early signs to watch out for. You will have a chance to hear from a neovascular Age-related Macular Degeneration (nAMD) patient about his treatment experience and outcome. nAMD is an eye disease that affects over 21,000 Thai people annually, and its incidence rate keeps rising. Prompt yourselves and your loved ones to consult professional eye doctors before vision loss.
In addition, Roche Thailand, a leader in innovative treatments and biotechnology, has teamed up with Give Vision, a European-based startup that develops wearables for visually impaired people. Not only does the gadget enhance vision quality, but it also monitors eye symptoms remotely and reports such data to doctors in real-time. This collaboration brings about a brighter future for Thais. Whether you are a patient or a caregiver, access to treatment and technology customized for your vision restoration will be localized soon.
Prepare to buy using KUB Coin with the new features “Land Office” on Bitkub Metaverse soon
Bangkok, May 13 – Bitkub Blockchain Technology Co., Ltd, a blockchain leading company, in cooperation with Metaverse Thailand, a leading visual world development platform company, announced the new roadmap to connect Metaverse Thailand with Bitkub Chain and enhance the land area’s expansion in the future.
Under this press announcement, Metaverse Thailand have already moved the infrastructure on Bitkub Chain and allowed the users to trade the land using KUB Coin. This has demonstrated the owners’ rights of the land along with business expansion on visual world. Moreover, the users can also swap META Coin with KUB Coin.
In addition, with the new plan announcement, Metaverse Thailand also invest in Bitkub Metaverse land to build “Land Office” and allow the users to trade the land using KUB, MVP and KUSDT along with announced the new features such as staking and mortgaging. Moreover, the new set of land will be sold under Asoke and Prompong areas for 33 KUSDT, 3 KUB or 333 MVP per 1 HEX, which will be opened for sale on May 30 from noon to 8pm.
Passkorn Pannok, CEO of Bitkub Blockchain Technology said “With the new plan announcement, we will expand the current users on Metaverse Thailand on Bitkub Chain. Also, the Land Office on Metaverse Thailand will be opened for sale and allowed the users to trade on Bitkub Metaverse using KUB, MVP and KUSD coins.”
Pongsakorn Udombua, from Metaverse Thailand, said “Under this new roadmap, the new zone (Prompong area) will be added up with 80,000 HEXAGON, which we have followed our community’s suggestion for this new update. We have already reduced the unnecessary area including street, canal and garden in order to enhance the platform’s potential for everyone.”
(PR News) Opening August 1, 2022, you will embark on a new travel adventure.
Grande Center Point Space Pattaya, a new landmark in the heart of North Pattaya, a city that never sleeps, is Thailand’s first “Space themed” hotel. Escape the hustle and bustle to explore new leisure experiences in a concept design hotel with a full space theme from the front to the interior and services.
Grande Centre Point Space Pattaya, a soon-to-be-opened hotel inspired by space travel, from the space shuttle to the exterior and landscapes of outer space, features 490 rooms with aurora and star lights on the ceiling to make you feel like you’re on a spaceship. Every room has its own balcony with views of the Pattaya ocean, with sizes ranging from 45 to 133 square meters. Amenities includes a four-figure bathroom and cutting-edge technology like a washlet, smart mirror, 55-inch smart TV, and Bluetooth.
The flagship hotel of the LH Mall & Hotel group is Thailand’s first completely space-themed hotel. It’s unique and fascinating because it combines space travel as a design concept with the comfort of guests of all ages, with attractions ranging from a massive water park spanning 11,500 square meters in four zones, such as an adventure in the space forest, to a huge water park spanning 11,500 square meters in four zones.
Space Water Park has a space pirate beach with white sand and realistic-looking waves. Visitors may float down the lazy space forest river through caverns, waterfalls, jacuzzis, and intergalactic jungles. A modern spaceship-themed facility featuring a kids club and games room, as well as outdoor recreational facilities including a playground, sandpit, and mini golf, are among the other amenities.
There are also additional facilities such as restaurants, cafés, and rooftop dining. and a huge conference room area at the Space Convention Center that can host gatherings for up to 900 people and has cutting-edge equipment such as a 12.48 x 5.40 m LED screen.
The Let’s Relax Onsen & Spa, with a floor space of up to 3,000 square meters and the first sea view onsen in Thailand, is one of the highlights as well as popular treatments like spa and Thai massage. Grande Center Point Space Pattaya is bringing the dream of going to space closer to reality. Reservations are now available at tel. or +66 33 268 888 or https://www.facebook.com/gcpspacepattaya/
“Singha Soda” ventures into the NFT world with the “Singha Soda NFT Art Contest,” bringing five creators to spark new ideas in their styles and create the one-and-only art piece with a chance to win 400,000 Baht and visibility in the “Singha Soda” account in ‘Opensea’ the biggest NFT marketplace in the world.
Mr. Titiporn Thammapimookkul, Chief Marketing Officer – Brand of the Boonrawd Trading Co., Ltd., revealed that Soda Singha has never stopped driving innovative marketing campaigns in line with the future to excite consumers constantly. “Singha Soda” has moved the market through collaborations with the fashion, music, and art industry, for example, the “Singha Soda Battle of the Year Thailand,” which is one of Thailand’s biggest hip hop competitions and one of the most long-running campaigns from Singha Soda, the collaboration with Mister Cartoon, a global tattoo artist, in his limited edition label design, and the collaboration with “Dry Clean Only,” an international Thai fashion brand, launching a special collection available worldwide, all of each has represented the brand’s identity and resonated with its target audiences.
Singha Soda has recently shaken the market once again by going digital with “Singha Soda NFT Art Contest,” which invites everyone to relish their creativity and design Singha Soda in their way. The digital art contest will reward up to 400,000 Baht with top NFT artists like Palm Instinct, PUCK, Sahred Toy, Jeff Aphisit, and Jecks bkk, who are looking to inspire contestants. The winner’s work will be sold on Singha Soda’s Opensea account. The campaign will strengthen the brand’s image of excitement and innovation, creating new ways of consumer engagement throughout the ages.
“Nowadays, there are a lot of intellectual properties with high value in the world market. You don’t have to be the best at drawing, but you need the best idea. We will select the 50 best ideas from Thais to sell in Opensea, which is the world’s biggest NFT marketplace. The company will pass on full income from the sale to the artist. This is a new milestone of creativity from Singha Soda which will resonate with the new generation,” Mr. Titiporn said.
Create your digital art with the “Singha Soda NFT Art Contest” with refreshing, creative, and unique ideas under the concept “Singha Soda’s Style In Your Own,” showcasing “Singha Soda’s” brand identity in your ways featuring Singha Soda’s logo design or bottle in your works creatively. Submit your works now at www.singhasodanftartcontest.com from now until June 15, 2022.
Thai Airways International (THAI) suffered a net loss of THB3.243 billion on revenue of THB11.181 billion in the first quarter of this year. The revenue, which excluded one-time transactions, marked a 155 per cent year-on-year increase.
In its financial performance report, THAI said operational revenue had increased by THB6.797 billion compared to the same period last year.
However, it incurred expenditure, which excluded one-time transactions, of THB14.348 billion, up THB2.967 billion year on year, inflicting a loss of THB3.167 billion.
THAI noted in the report that its loss, which excluded one-time transactions, dropped by 54.7 per cent, or by THB3.83 billion, year on year.
THAI said its net loss for the first quarter was THB3.243 billion, down THB8.962 billion year on year. The net loss translated into a loss per share of THB1.49, compared to THB5.59 in the first quarter of last year.
As of March 31, THAI and its subsidiaries had total assets valued at THB162.423 billion, an increase of THB1.204 billion from December 31, 2021, while total liabilities stood at THB236.909 billion, an increase of THB4.439 billion.
THAI reported that the demand for passenger seats had continually increased in the first five months of this year because the government had gradually eased Covid travel restrictions.
The report said THAI and Thai Smile had 10,238 passengers and 10,870 passengers for domestic and international flights respectively for the first 10 days of May, compared to 4,929 passengers and 269 passengers, respectively, in October last year. The figures showed a significant increase in the number of passengers after the government relaxed travel restrictions, the report added.
THAI said goods transportation by its planes has returned to 50 per cent of the pre-Covid level in 2019.
THAI said it has increased frequency of THAI and Thai Smile flights from the second quarter of this year to respond to the increased demand following the easing of travel restrictions and the improvement in the Covid situation.
It said its flights to the following destinations have increased:
— Chennai (India) from 5 to 7 flights per week from April 1
— Bengaluru (India) from 5 to 7 flights per week from April 1
— New Delhi from 7 to 14 flights per week from April 1
— Mumbai from 5 to 7 flights per week from April 1
— Lahore (Pakistan) from 3 to 4 flights per week from May 1
— Karachi from 2 to 3 flights per week from May 1
— Islamabad from 2 to 3 flights per week from May 1
— Hanoi from 7 to 14 flights per week from May 1
— Ho Chi Minh from 7 to 14 flights per week form May 1
— Phnom Penh from 7 to 14 flights per week from May 1
— Melbourne from 4 to 7 flights per week from May 1
— London from 11 to 14 flights per week from May 29
— Jakarta from 3 to 7 flights per week from June 1
— Dhaka from 7 to 10 flights per week from June 1
— Frankfurt from 10 to 14 flights per week from June 25
— Taipei from 4 to 7 flights per week from June 25
— Singapore from 10 to 14 flights per week from July 1
— Copenhagen from 5 to 7 flights per week from July 1
— Munich from 5 to 7 flights per week from July 1
— Zurich from 5 to 7 flights per week from July 1
The company also has increased flights to or opened the following new routes:
— Penang 4 flights per week from May 1
— Vientiane 3 flights per week from May 1
— Bali 4 flights per week from May 1, and flights will increase to 7 per week from June 18
— Hyderabad one daily flight from May 13
— Yangon one daily flight from June 1
—Tokyo (Haneda International Airport) one daily flight from July 1
— Kaohsiung (Taiwan) one daily flight from July 1
— Brussels three flights per week from July 2 to August 30
The report added Thai Smile will also fly 14 flights per week from Don Mueang Airport to Phuket International Airport starting May 20.
THAI entered a court-supervised rehabilitation after reporting its worst-ever net loss of THB141 billion, hammered by the pandemic that began in 2020. The company reported a net profit of THB55.1 billion in 2021, following restructuring efforts that included improving management efficiency and selling off assets.
The Commerce Ministry gave fifty international companies in April the go ahead to conduct business in Thailand under the Foreign Business Act, Deputy Commerce Minister Sinit Lertkrai said on Tuesday.
“These foreign companies have invested more than THB9.9 billion in Thailand and generated up to 592 jobs for local people,” he said. “Most of these firms are from Singapore, Japan and Hong Kong, respectively.
“Allowing more foreign companies to invest in Thailand will help promote knowledge and technology transfer, especially in online trade platform operations, machining centre management, mechanical and electrical engineering, and wireless control of the Optime system using smartphone applications and computers,” Sinit said.
He added that 15 foreign companies have been given approval to invest in the Eastern Economic Corridor (EEC), or 30 per cent of all approved foreign companies in April.
These companies have invested THB2.66 billion in the EEC, or 27 per cent of total foreign investment. Most of the firms are from Japan, the United States and Singapore, while EEC investments have been made in digital services, cloud computing, sensor technology, canned food and beverage packaging, and furniture manufacturing.
The Commerce Ministry expects more foreign companies to apply for investment due to an improving Covid-19 situation and the government easing restrictions on foreign arrivals, which will help restore investor confidence.
The baht opened at 34.48 to the US dollar on Wednesday, jumping from Tuesday’s close of 34.52.
The currency is expected to move in a range between 34.40 and 34.80 on Wednesday, predicted Krungthai Bank market strategist Poon Panichpibool.
Poon said the market is in a risk-on state and might cause the baht to fluctuate and weaken amid worries that the US Federal Reserve may move to increase the interest rate.
Besides, the effect of Russian energy sanctions might cause the dollar to advance again.
The strengthening of the baht might be limited to 34.40-34.50 to the dollar, the level importers are waiting for to purchase the greenback.
Poon advised businesses to use hedging tools such as options to manage risks in the highly volatile currency market.
He said the currency market is open to more risks due to hopes that China might ease its lockdown measures on June 1.
Moreover, Chairman Jerome Powell has signalled that the Fed might raise the interest rate again by around 0.5 per cent to tackle inflation, according to market expectations.
Thailand and Saudi Arabia agreed on Tuesday to set up a cooperation council to further strengthen bilateral ties.
The two countries also agreed to waive visa requirements for diplomacy and government affairs, while Saudi Arabia will consider helping the 800 Thai nationals whose visa has expired.
Foreign Minister Don Pramudwinai revealed these developments after meeting with his Saudi Arabian counterpart, Prince Faisal bin Farhan Al Saud, in Riyadh on Tuesday.
“Prince Faisal said he will visit Thailand in June to prepare for Crown Prince Mohammad bin Salman’s visit,” Don said.
Prince Faisal bin Farhan Al Saud
Meanwhile, he said, Thailand will appoint its ambassador to Saudi Arabia in the third quarter of this year.
“Saudi Arabia has already started direct flights to Thailand and we believe many Saudis will be travelling to the country,” he said. “Meanwhile, Saudi Arabia is also keen for Thais to visit.”
Don added the aim of this visit was to link up businesses from both countries, so they can make the most of the opportunities available.
“Many businesses were interested in participating in the investment conference hosted by Saudi Arabia’s Investment Ministry,” he said, citing Investment Minister Khalid A Al-Falih’s remark.
Don said he expects this trip to benefit the private sector of both countries, adding that Saudi Arabia needs a lot of Thai workers as it has many investment projects in the pipeline.
“We know that at least 500,000 positions in construction and other related services are available, of which about 200,000 will be allocated to Thais,” he said.
“However, it depends on whether we have enough workers to meet the demand.”
Apart from this, he said, the two countries aim to strengthen their ties in all aspects.
Don led hundreds of representatives from Thailand’s energy, tourism and export sectors on a five-day trip to Saudi Arabia. The May 15-19 trip aims to restore cooperation and investment after nearly a three-decades-long freeze in Thai-Saudi relations.
Riyadh cut trade and diplomatic ties with Bangkok after the so-called Blue Diamond affair, in which the theft of jewels by a Thai worker from a Saudi palace in 1989 was followed by a series of killings of Saudi representatives in Thailand.
Though first-quarter GDP growth beat expectations, Thailand’s economy faces uncertainty and needs more government support amid spiralling public debt, the National Economic and Social Development Council (NESDC) warned on Tuesday.
The warning came as the NESDC unveiled first-quarter growth of 2.2 per cent year on year, while offering its overall outlook for 2022.
GDP growth beat the forecasted 2.1 per cent after easing Covid restrictions sparked a tourism revival and a surge in exports.
Domestic consumption also accelerated as economic activities began to return to normal.
However, the ongoing Russia-Ukraine war saw the consumer confidence index drop from 38.9 last quarter to 37.3 as inflation took a toll on Thailand.
NESDC secretary-general Danucha Pichayanan pinpointed several challenges to Thai economic recovery and growth this year.
Apart from outside factors like the Ukraine war, China slowdown, Covid-19 uncertainty and supply chain disruption, Thailand’s rising private and household debt are key factors of concern, he said.
The NESDC report said high levels of private debt will hinder recovery while the ability to repay debt would be pressured by rising interest rates along with incomplete recovery in the labour market. Household debt, meanwhile, will place limits on how much people can consume.
“We need to accelerate the support scheme for the private sector and debt restructuring measures issued by the Bank of Thailand while considering more measures to extend the debt repayment period for households so they have liquidity,” Danucha said.
He said the current situation lacked precedents, so was not easy to improve. To weather the crisis, the NESDC has asked for firm cooperation from all parties. He also urged more government aid for citizens, adding that support schemes should be targeted at the neediest people as national budgets and resources are now limited.
Meanwhile, the public could greatly support the country by spending more on essential goods and services. He also pleaded for Thais to consider domestic travel rather than going abroad.
On the outlook for this year, the NESDC forecasts the economy will expand in the range of 2.5-3.5 per cent – lower than the previous forecast of 3.5-4.5 per cent.
Expansion would be driven by domestic demand, domestic tourism recovery, and exports growth. However, high inflation, slowdown in China, and uncertainty over the Russia-Ukraine war would create growth fragile growth.
Exports would remain Thailand’s main economic engine this year, with 7.3 per cent growth forecast. Meanwhile, private consumption and private investment are expected to increase by 3.9 per cent and 3.5 per cent respectively. Public investment is projected to rise by 3.4 per cent.
Headline inflation is estimated in the range of 4.2-5.2 per cent and the current account is projected to record a deficit of 1.5 per cent of GDP.
THAI said it has increased frequency of THAI and Thai Smile flights from the second quarter of this year to respond to the increased demand following the easing of travel restrictions and the improvement in the Covid situation.
Prince Faisal bin Farhan Al Saud
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