The baht opened at 34.60 to the US dollar on Tuesday, strengthening slightly from Monday’s close of 34.62.
The currency is expected to move in a range between 34.50 and 34.70 on Tuesday, said Krungthai Bank market strategist Poon Panichpibool.
Poon said that the baht was under pressure from a risk-off market that is supporting the dollar. Also, the Covid-19 situation in China is deterring investment in Thailand and other Asian emerging markets.
Poon said the baht now risked testing a new resistance level of 34.75 after breaching 34.50. It would also face downward pressure from purchases of gold if the price goes down, he added.
However, weakening of the Thai currency would be limited unless Thailand suffered large foreign outflows, Poon said.
He said the downward direction of the baht might reverse in the short term following market reaction to April’s US inflation report and US Federal Reserve statements. If April inflation slows and the Fed declines to signal a rate rise, the dollar may weaken and the market return to a risk-on state, causing the baht to strengthen.
He advised businesses to use hedging tools such as options to manage risks in the highly volatile currency market.
(PR News) Thai Airways International Public Company Limited (THAI) and Siam Piwat Company Limited joined the global premium business ecosystem by introducing THAI products and services on ONESIAM SuperApp and in Siam Piwat department stores, Luxury Lifestyle Destinations which would connect the customer journey to fulfill THAI and Siam Piwat customers’ lifestyle. Furthermore, customers will receive privileges all year round.
Kittiphong Sansomboon, THAI Director of Customer & Marketing Department said “The collaboration between THAI and Siam Piwat will offer our ROP members with privileged experiences through creative innovations. The special services and marketing promotion under this campaign are a part of THAI ROP Exclusive Offers project that focuses on partnership with business alliances to enhance air travel experiences at every contact point of our customers’ journey. In addition to this campaign, ROP members shall earn further privileges in upcoming offers under the project.”
Panthep Nilasinthop, Chief Customer Officer of Siam Piwat, said “Siam Piwat focuses on strengthening our world class and premium business ecosystem. We create and deliver new experiences both in the actual and the virtual world. Our goal is to be customers’ top-of-mind for local and international shoppers. Over a period of time, we have successfully built a strong partnership network that incorporates leading business alliances in Thailand and internationally, as part of our ‘Collaboration to Win’ strategy. The synergy spans over businesses in more than 13 industries that together join force to further strengthen this successful ecosystem that present limitless opportunities.
As a ‘Luxury Lifestyle Destination,’ every ONESIAM platform and retail premises will offer our target shoppers the right products and services that caters to their needs. Based on our collected data of consumer behaviors, especially on the close look on their lifestyle, we have found that our customers are keen travelers and always have a trip or more planned. The collaboration between Siam Piwat and THAI is formed to bring the best of both business leaders to customers. In addition, the collaboration syncs both companies’ customer databases which allows an even better customer journey that shoppers can experience anytime, anywhere at ONESIAM SuperApp.
Content features photos and stories of tourism attractions around the world stimulating travel demands and enhancing personal experiences.
Royal Orchid Plus (ROP) offers special privileges through ONESIAM SuperApp for members who receive ONESIAM membership status together with 150 VIZ Coins (10,000 entitlements) to use for online shopping and at shops in the department store (terms and conditions apply). Many more discounts from branded stores will be offered throughout the year.
THAI Shop will provide a variety of THAI products through ONESIAM SuperApp where customers may conveniently surf and go online shopping.
In addition, customers will find it even more convenient to purchase air tickets online via ONESIAM SuperApp. The service will soon be available.
The multi-faceted collaboration between THAI and Siam Piwat is a synergy of two business leaders that brings limitless opportunities. The two parties together create and deliver top-level experiences to customers of both companies. This is an ideal Co-Creation that paves ways to new opportunities and new growth engine, opens doors to more business opportunities and leverages the level of competitiveness in the industry. The exchange of knowledge and know how effectively supports business growth, the expansion of existing customers and reaching to new customers.
(PR News) MedPark Hospital Management Team led by Prof. Dr Sin Anuras together with Dr Pongpat Patanavanich on May 6 honorably welcome H.E. Moon Seoung-Hyun, Ambassador of Embassy of the Republic of Korea, and Youngchang Jun, Chairman of The Korean Association in Thailand to the signing ceremony of the Medical Service Agreement between MedPark Hospital, the Embassy and the Association.
MedPark hospital, as a preferred hospital, is committed to work collaboratively to provide the best care for Korean citizens with our best team.
The signing ceremony was jointly witnessed by Dr. Park Sung Hee, Consul General, Dr. Park Min Yung, Consul and Counsellor, Sin Jeong Yoo, Assistant Consul of the Embassy of the Republic of Korea along with Hong Jihee, Vice Chairman of the Korean Association in Thailand.
Though most businesses in the telecommunications sector are all for the True-Dtac merger, the third service provider is dead against it.
Opinions from different sectors were heard at the first Focus Group hearing organised on Monday by the National Broadcasting and Telecommunications Commission (NBTC). The hearing ran from 8.30am to 1pm.
True Corporation and Total Access Communication (Dtac) sent their representatives to the meeting to defend the amalgamation plan, while their rival Advanced Info Services sent its head of business development, Saran Phaloprak.
Saran told the meeting that NBTC, as the telecom watchdog, should take action to ensure the telecom industry remains competitive.
He said this merger would cut the number of key players from three to two and create a duopoly in the telecom business.
Saran also pointed out that NBTC will not be able to issue any measures that bring market conditions back to their original state once the merger takes place.
Hence, he said, the telecom watchdog should deliberate the merger plan with transparency and utmost prudence.
However, other participants, who are mostly business partners of the two telecom operators in the provinces and representatives of related associations, openly voiced support for the merger.
They said the mobile-phone signals of Dtac and True did not cover all areas upcountry and believe that bringing the two service providers together would improve coverage.
They also believe the merger will reduce operating costs as well as the burden on retail shops that sell SIM cards.
In a marked changed in tourism sentiment, some 300,000 foreign visitors arrived during the first seven days after Thailand abolished the Test & Go scheme, Government Spokesman Thanakorn Wangboonkongchana said on Monday.
Thanakorn said Prayut was happy with the foreign arrivals figure after the Centre for Covid-19 Situation Administration cancelled the Test & Go scheme on May 1.
The spokesman said the Tourism Authority of Thailand reported to Prayut that more than 300,000 foreign tourists had arrived in the Kingdom during the first seven days after the scheme was abolished.
Cancellation of the scheme means fully-vaccinated foreigners do not undergo the expensive RT-PCR Covid test upon arrival and do not have to be quarantined.
Only unvaccinated tourists, who fail to provide proof of Covid negative test results 72 hours before arrival, will be quarantined in their booked hotels for five days.
While the spokesman called the abolition of the Test & Go scheme as the full opening of the country, all foreign arrivals will still have to register for entry permission via the Thailand Pass website, a process seen by tourism and hotels businesses as the last hurdle for recovery of their industry.
Thanakorn said the TAT expects that some 300,000 foreign tourists will visit Thailand each month from May to September.
He said the number is expected to rise to one million per month from October to December, which is regarded as the high season for foreign arrivals.
The spokesman also quoted Prayut as saying that tourism and hotel operators should retrain their staff to be multiskilled in anticipation of an influx of foreign tourists later this year.
The prime minister has also instructed government agencies concerned to improve and restore sightseeing places to make them more attractive to tourists. The prime minister also suggested that hotel operators improve their facilities ahead of the arrivals, Thanakorn added.
Prayut reminded local people and tourism operators that they should strictly follow Covid-19 preventive measures.
On Monday, the Public Health Ministry reported that 6,484 more people had tested positive during the previous 24 hours of whom four were imported cases.
The spokesman added that 56.4 million people have received the first dose of Covid-19 vaccines, 51.63 million had received both doses, and 26.61 million had received the third jab.
Tired of all the hype from advertisers promising paradise if you buy their products?
You are not alone, judging by the latest big trend in Thai advertising campaigns.
Brands are going viral with Facebook adverts showcasing the “ordinariness” of their products – defying Thailand’s obsession with luxury and exclusivity.
The trend took off on Friday when Thai apparel manufacturer Double Goose flew in the face of advertising wisdom by showcasing its “ordinary” shirts for ordinary people’s needs.
Thai shoe manufacturer Nanyang quickly jumped aboard the honesty bandwagon, replying that its shoes were “ordinary” as well.
On Saturday, Origin Property added real estate to the snowballing trend.
“We understand your lifestyle amid the ups and downs of work and living. We also understand that ordinary people want places to rest,” it posted, before promising:
“You can experience unordinary relaxation in ordinary condominiums and houses with unordinary room layouts here.”
Real estate rival SC Asset, with plans to build 40 billion baht’s worth of houses and condos this year, quickly joined the race to connect with the “common” man and woman. Ordinary people were “special” to the company, it posted on Facebook.
The new trend was hailed as proof of Thai marketing executives’ ability to think outside the box to connect with consumers online.
Digital Economy and Society Minister Chaiwut Thanakamanusorn held talks in Laos on Saturday, ahead of an expected explosion of digital trade when border checkpoints open on Monday.
Chaiwut was visiting Nong Khai to inspect progress of digital development in the Northeast border province, and dropped in on Lao Science and Technology Minister Boviengkham Vongdara in Vientiane. Their informal talks focused on how the two countries should promote private investment in digital and 5G.
Chaiwut said he expected brisk trade – especially in e-commerce – as soon as the land link between the two countries is restored on Monday. Laotians like to do e-shopping for Thai goods and the reopening Thai-Lao transport routes would boost online trade, he added.
The Digital Economy and Society Ministry is working to extend internet access to all communities in Nong Khai province in a bid to tap e-shopping demand from Laos.
Chaiwut said most residents of the Northeast province now had access to free Wi-Fi.
He also visited local community leaders and chiefs of tambon administrative organisation (TAO)s and municipalities to gather their opinions on developing the province’s digital economy. He said the government was ready to grant more money to Nong Khai’s digital development in line with locals’ needs and suggestions.
China’s zero-Covid policy, agricultural import restrictions, and shift away from global dependence will hit Thailand’s economy, warned a government agency on Sunday.
The National Economic and Social Development Council (NESDC) said it was monitoring China closely after the country imposed Covid-19 lockdown measures on Shanghai and other cities.
“China’s economy expanded by only 4.8 per cent in the first quarter this year, lower than forecasts of more than 5 per cent,” said the NESDC, which is Thailand’s national economic planning agency.
Three Chinese policies will impact the global economy, including Thailand, it said.
The first is Beijing’s “Zero Covid” policy.
Lockdowns of large Chinese cities will disrupt Thailand’s industrial supply chain for electronics and electric appliances, the NESDC said.
The second policy affecting Thailand is China’s tighter inspections of agricultural imports, especially via land. China temporarily suspended imports of Thai durians last month after discovering traces of Covid-19 among a rail shipment at the Mohan border checkpoint. The price of Thai durian dropped as a result.
NESDC said it had urged a tightening of Thai export standards to meet China’s demands.
The third policy is China’s switch to stockpiling raw materials for products such as fertilisers, to avoid dependency on imports hit by the Russia-Ukraine conflict and sanctions.
“It appears that China is preparing to deal with crises, including the US and Europe’s sanctions on Russia, NESDC said, adding that this will impact Thailand’s economy.
Reinforcing BTSG strong position in sustainability as the first issuer to issue both Sustainability-Linked Bonds and Green Bonds in Thai Capital Market
(PR News) BTS Group Holdings Public Company Limited (BTSG) successfully issued senior unsecured Sustainability-Linked Bonds (“SLB”) to institutional and/or high-net-worth investors with 1.67 times oversubscription, in which the Company decided to exercise greenshoe option, bringing total issue size to THB 11,000 million. The Bonds were rated ‘A’ by TRIS Rating and the proceeds will be used for debt refinancing. The issuance marked BTSG as the first issuer in Thailand to ever issue both SLB and Green Bonds, emphasizing BTSG’s firm commitment in sustainable business practice and strong position in Thai Capital Market.
Mr. Surayut Thavikulwat, Chief Financial Officer of BTSG announced that “the Company had successfully issued 4 tranches of unsubordinated and unsecured Bonds amounting to THB 11,000 million placed to institutional and/or high-net-worth investors during April 29, May 3-5, 2022. The Bonds received warm responses from investors across all types, with more than 1.67 times oversubscription on BTSG’s initial target issue size of THB 8,000 million. Therefore, BTSG decided to exercise greenshoe option of THB 3,000 million to meet the demand for investors. The Bonds were rated ‘A’ by TRIS Rating Co., Ltd. on March 10, 2022.”
BTSG SLBs No.1/2565 comprised of a 3-year SLB bond with an interest rate of 2.79% p.a. amounting to THB 700 million, a 5-year SLB bond with a fixed interest rate of 3.65% p.a. amounting to THB 2,800 million, a 7-year SLB bond with a fixed interest rate of 4.05% p.a. amounting to THB 3,800 million, and a 10-year SLB bond with a fixed interest rate of 4.40% p.a. amounting to THB 3,700 million. The Bonds were arranged by Bangkok Bank Public Company Limited (BBL), Krungthai Bank Public Company Limited (KTB), KASIKORNBANK Public Company Limited (KBANK) and The Siam Commercial Bank Public Company Limited (SCB) as the Joint Lead Arrangers.
Sustainability-Linked Bonds (SLBs) are any types of bond instrument whose financial and/or structural characteristics, such as a bond coupon, can be adjusted depending on the achievement of the predefined sustainability/environmental, social and governance objectives. Issuers are thereby committing explicitly (including in the bond documentation) to future improvements in sustainability outcome(s) within a predefined timeline. Those objectives are (i) measured through predefined Key Performance Indicators (KPIs) and (ii) assessed against predefined Sustainability Performance Targets (SPTs).
BTSG has developed a Sustainability-Linked Financing Framework to enable the issuance of different securities or instruments including bonds, loans, or any other debt instruments (collectively Sustainability-Linked Finance Instruments or SFIs) whose financial characteristics are linked to whether Key Performance Indicators (KPIs) reach predefined Sustainability Performance Targets (SPTs), in alignment with the principles including; Sustainability Linked Loan Principles (SLLP), May 2021, and Sustainability Linked Bond Principles (SLBP), June 2020, International Capital Market Association (ICMA).
KPIs of BTSG are 1) Total electricity consumption per car-km for Green Line Network and 2) Renewable energy consumption in operations for Green Line Network. DNV Business Assurance Australia Pty Ltd. (DNV) has reviewed BTSG Sustainability-linked Financing Framework (SLFF) and provide a Second Party Opinion (SPO) report on the Framework based on the Principles. The Framework and a SPO report are published on BTSG’s website for more details.
Mr. Surayut Thavikulwat also mentioned that, “We would like to thank investors for their trust and interest in subscribing for BTSG Bonds and we would like to also thank Bangkok Bank Public Company Limited (BBL), Krungthai Bank Public Company Limited (KTB), KASIKORNBANK Public Company Limited (KBANK) and The Siam Commercial Bank Public Company Limited (SCB), the Lead Arrangers, for their support and contribution to this achievement. The proceeds will be used for debt refinancing. The success of this Sustainability-Linked Bonds offering as well as the previous transactions will support and drive us to continue to offer Bonds to meet investors demand going forward.
“The issuance of BTSG Sustainability-Linked Bonds is in line with the Company’s long-term climate strategy, which includes our goal to become carbon neutral and increase at least 10% share of energy from renewable sources of total electricity consumption. Our sustainable commitment has been acknowledged through awards and recognitions we received at both national and international external agencies such as being included in the DJSI for the 4 consecutive years (2018-2021) and ranked first globally in the DJSI Transportation and Transportation Infrastructure Sector for 2 consecutive years. We are also honored to be the first and only rail carbon neutral transportation company certified by the Thai Government’s Thailand Greenhouse Gas Management Organisation,” said Mr. Thavikulwat.
(PR News) The brand has released new data on the impact to students’ confidence and is working with experts and education partners to create a future where students can grow into the greatest version of themselves #LetHerGrow
Two years ago, the hair rules in Thailand were changed to be more inclusive and prohibit punishments that force mandated haircuts on students. However, according to a new Dove study, conducted by YouGov (Thailand) Co., Ltd. among students, parents, women and teachers, 74% of respondents report that forced haircuts are still being used to discipline students today.
These rules and punishments can take away more than students’ hair, with the study finding that mandated haircuts had a negative impact on the self-confidence of 8 in 10 high school students. In its longstanding commitment to making beauty a source of confidence, not anxiety, Dove is calling on people across Thailand to #LetHerGrow by standing in solidarity to end forced haircuts for good.
“Dove believes that when we support the confidence of our children, their sense of self increases, and their possibilities expand. That is why we are committed to creating a future that enables our next generation to grow into the greatest version of themselves,” said Pakachat Taychaburapanone, Vice President of beauty and personal care for the Dove brand. “We are proud to be working with experts to educate and advocate for change, along with creating The Growth Fund to support a sustained effort in making a difference in the lives of young people,” Pakachat added.
For more than 15 years through the Dove Self-Esteem Project, Dove has been helping parents, mentors, teachers and youth leaders deliver self-esteem education that has reached more than 82 million young people globally, making it one of the largest providers of body confidence education in the world. By 2030, Dove is aiming to have helped 250 million build their positive body image.
The brand is working with the Girl Guides (Girl Scouts) Association of Thailand (GGAT) under Royal Patronage of Her Majesty the Queen, a nonprofit organization dedicated to enabling girls and young women to develop their fullest potential as responsible citizens of the world for over 60 years. As partners, Dove will collaborate with GGAT to make an impact for students across Thailand. In addition, the brand has teamed up with Assistant Professor Dr. Jiraporn Arunakul, an adolescent medicine specialist and founder of the Facebook Page “Take Kids with Us”, to provide expert insights on this issue and the role confidence plays in childhood development.
“A forced haircut can be a traumatic experience for students with consequences lasting well beyond their school years,” said Jiraporn. “These rules and punishments can inhibit the development of confidence and self-esteem. If we want our children to grow up as confident adults in the future, we have to establish a good foundation for their confidence and self-esteem today.”
The Dove study revealed that:
Mandated haircuts have a negative impact on nearly half of high school students’ ability to share ideas.
More than 3 in 5 high school students believe the hair rules teach students that they don’t have control of their bodies or that the way they look is not good enough.
Beyond high school, 71% of young women (19-24) report that mandated haircuts had a negative impact on their self-confidence.
The research also found there’s a need for more awareness of the relaxed hair rules, with more than 40% of teachers being unaware of the details of the changes.
Ultimately, 3 in 5 respondents agreed the hair rules are outdated and schools should no longer enforce.
In a collective effort to bring about awareness and change, parents, students and educators can pledge their support by visiting DoveLetHerGrow.com or scanning one of the many QR codes being broadcast and displayed throughout Thailand. With a force in numbers, the cumulative support will reinforce ongoing initiatives to demonstrate that now is the time to end the persistence of forced haircuts for good. Additionally, in its dedication to this cause, Dove has established The Growth Fund and has committed to directing THB 10,000,000 of support over 3 years through research, amplifying expert voices, working with schools and educators and building awareness of the impact issues like this have on the confidence and self-esteem of the next generation.
They said the mobile-phone signals of Dtac and True did not cover all areas upcountry and believe that bringing the two service providers together would improve coverage.
On Monday, the Public Health Ministry reported that 6,484 more people had tested positive during the previous 24 hours of whom four were imported cases.
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