Megabangna celebrates the 10th year milestone as “Your Everyday Meeting Place”

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•With over THB 200 millions investment prepared for 2022, the super regional shopping centre is set to join forces with its partners for some incredible activities and campaigns as a thank you to their customers, reaffirming the status as Eastern Bangkok’s leading shopping centre. •Furthering their journey with “Megacity”, the THB 67 billion-mixed-use project is being developed to be the city of the future for all.

Megabangna celebrates the 10th year milestone as “Your Everyday Meeting Place”

SF Development Company Limited, the management of shopping centre is all geared up for the glorious celebration of the shopping centre’s 10th anniversary. Throughout its awe-inspiring first decade, Megabangna has already welcomed more than 500 million visitors.

It stands side by side with the community and is a significant driving force behind the development of the Bangna area as well as people’s quality of life. Their next chapter will encompass the future developments of Megabangna and Megacity, including special activities and promotional campaigns held in celebration of the shopping centre’s 10th anniversary throughout May of 2022.

Palinee Kongchansiri, President of Megabangna Shopping Centre and Megacity, expresses her thoughts on this great milestone.  

“Over the past 10 years, Megabangna has been such an inspiring phenomenon within the retail industry. The project successfully transformed an empty plot of land on Bangna-Trat road into Southeast Asia’s largest low-rise shopping centre. Such an achievement is made possible largely due to the visions of our top executives who strive to create, not just a shopping mall but ‘Your Everyday Meeting Place’ to answer the needs of all customer groups. Their wish is for Megabangna to curate experiences that no other shopping malls can offer. 
 
“Our strength is the massive piece of land, which can accommodate many more new developments and additions, both commercial and non-commercial. 

Mega Park  is one example. Building an expansive 7-rai park within our shopping centre area was unprecedented and something no other urban shopping malls had ever done. The park is created as a new green space of the Bangna area. It welcomes everyone, free-of-charge with a hope to become a new hangout space for the Bangna residents. 

We keep ourselves fresh and exciting to best fulfil our customers’ demands and expectations, from the renovation of our landscape and facilities, keeping ourselves up to date with our tenant mix and the latest trends, as well as hosting marketing campaigns and activities with collaborations with our amazing partners.  

Megabangna celebrates the 10th year milestone as “Your Everyday Meeting Place”

All of these qualities are what make Megabangna the perfect Meeting Place for everyone. This is where people spend their quality times, whether byself or with their loved ones, because we have everything to cater to their every need, from shopping, dining, enjoying our impressive cinematic facility, to healthy activities such as exercising, or a simple hanging out with friends. We offer activities that have become a part of people’s everyday lifestyle, and with what we have to offer, Megabangna has risen to be one of the most popular and one of the first shopping malls to be top of mind for Thai people.”  
 
Even during the years of the Covid-19 pandemic, Megabangna has been able to adjust its strategies to pull itself through the worst of the crisis. With the shopping centre reopened, we are able to rebuild customers’ trust, ensuring that our services and operations are carried out under all the required health measures. In 2021, we welcomed over 42 millions visitors and new tenants including the premium tier brands such as CHANEL FRAGRANCE & BEAUTY, GUCCI BEAUTY, DIOR COSMETICS, YSL, YUZU SUKI, KAM’S ROAST, and THONG SMITH, to name a few, who bring their establishments to Megabangna, extending our 100% occupancy rate. 

The three strategies to our success include: 

1. EVOLVING TENANT MIX: At the core of a “Successful Retail Destination” is the management of a constantly evolving tenant mix. Megabangna always keeps our tenants’ stores fresh and up to date, keeping up with our ever-changing customer behaviours and trends.  Our intention is to make Megabangna a ‘One-Stop Shopping Destination,’ which answers to the lifestyles and needs of people from all generations.
 
We are home to five key anchors. The partners we consider to be the prominent magnets that bring more visitors into our shopping centre.

1.    IKEA: The world’s largest furniture retailer from Sweden that chooses Megabangna to be the home of its first store in Thailand. 
2.    HOMEPRO: Thailand’s number one home improvement centre with a comprehensive range of products from home decoration items to electrical appliances and furniture. 
3.    CENTRAL@MEGABANGNA: Repositioned from Robinson Department Store, Central@Megabangna can accommodate the lifestyles of Megabangna’s clientele with increasing demands for more premium products and services. A plan is also currently underway for further expansions in the near future.
4.    BIG C EXTRA: The hypermarket brand that offers a comprehensive range of everyday consumer products at affordable prices.
5.    MEGA CINEPLEX, BLU-O BOWL, SUB ZERO ICESKATE: The entertainment complex for everyone. 
 
Megabangna’s customers will also be able to enjoy new experiences from a number of new stores such as CAMPER, MOSSIMO, SAEMAEUL SIKDANG, MOS BURGER, OHKAJHU, SUSHIRO, ACE, AMD, YAKINIKU LIKE, and DYSON DEMO. Meanwhile our existing tenants have renovated their shops, keeping the retail spaces and shopping experiences fresh and exciting. 
 
2. NEW & NOW EXPERIENCE: Megabangna never rests on our laurels. We continue to develop and offer new customer experiences. At Megabangna, shoppers are kept informed about the new trends while being granted incredible benefits and privileges, especially the members of Mega Smile Rewards. With our special ‘365-Day Marketing Campaign,’ the members can collect the “smile” points, which can be redeemed for a wide range of rewards or discounts. 
 
Megabangna, together with our business allies and tenants, will be hosting a variety of marketing activities all year round, bringing our shoppers the best possible benefits and shopping experiences.

The gifts we have prepared for our campaigns are all carefully selected, trendy and high quality items. The plans we have been preparing for this year’s holiday seasons be it the New Year, Chinese New Year or Songkran Festival will turn the shopping centre into one massive festivity with performances, activities and themed decorations for every family member to enjoy their time as well as some Instagram snaps and Facebook check-ins. All the activities and spaces are curated to embody our concept that Megabangna is more than just a shopping mall but everyone’s everyday meeting place. 
 
3. SUSTAINABILITY & ECO-FRIENDLY OPERATIONS: Attracting and managing a massive amount of visitors is both a challenge and a mission for every staff member at Megabangna. With this in mind, Megacity is developed to become a large-scale community with a new lifestyle that will distinctively set Megabangna apart from other shopping centres.

With our vision, the project will bring sustainability to the traffic of visitors. Having an expansive 400-rai land on such a strategic location with great economic potential is certainly an advantage, which allows Megabangna to turn the vast undeveloped space into a perfect city. In 2017, Megabangna announced its plan for the development of Megacity. The THB 67 billion-mixed-use project will be home to residential projects, office buildings, schools, hotels, entertainment complex and many other attractions with Megabangna Shopping Centre sitting as the hub. Once completed, the project is expected to draw an average of 250,000 visitors per day, generating a dynamic traffic that will circulate within Megabangna and Megacity. By carefully and thoughtfully mapping out the project as one big picture, Megabangna and Megacity will be moving toward a sustainable growth and trajectory. 
 
Megacity is a long-term investment. The project has received overwhelming interests from our business allies and leading real-estate development companies, who recognize the potential and opportunities that Megacity has to offer. 40% of the project has now been completed, with other components currently underway such as the Mega FoodWalk extensions, which will be accompanied by an additional parking facility with 1,200 parking spaces and 30 new restaurants. The new addition also includes IKEA’s 8-story high, 2,000-car park building connected to the IKEA Store. These new facilities altogether increase Megabangna’s parking capacity to accommodate up to 12,000 vehicles at a time. 

Megabangna celebrates the 10th year milestone as “Your Everyday Meeting Place”

The Mega Smart Kids Zone now houses more than 20 educational institutes, not to mention the gigantic indoor playgrounds inside Mega Harborland and Mega Park. Megacity is also home to Didyasarin International Primary School, two condominium projects, one of which already finished the construction and in the handover process while the other condominium project is expected to complete within 2023. 
 
Megacity has also recently welcomed Southeast Asia’s first TOPGOLF. The sports entertainment complex will occupy 29-rai space inside Megacity and serve as a new attraction and hangout space, not just for golf enthusiasts but everyone. TOPGOLF will bring together gaming, sports and mini golf facilities, with restaurants serving both Thai and international food, including the rooftop sports bar, offering a new lifestyle space for all. Scheduled to open in the third quarter of 2022, TOPGOLF is believed to be one of our key magnets with the ability to attract diverse groups of visitors with its never-before-seen sports and entertainment experiences. 
 
“The development of Megabangna and Megacity is still our company’s main focus. Another upcoming project is the expansion of Central@Megabangna. With the additional 10,000 square meter space, the entire retail space will be revamped with more organized zoning of products and services to deliver the best possible shopping experiences. The new extension will also welcome the Central Food Hall with a wider range of products and services to answer to our customers’ increasing and diverse demands. Additionally, with our location being close to Suvarnabhumi Airport and several industrial estates in the eastern region, Megacity will be an ideal project for investors. We are currently in talks with our new partners over the development of a business hotel, which will sit on a 13,000 square metre-land inside Megacity.”
 
Eco-friendly operation is one of the essences of how Megabangna is managed. Over THB 1 billion has been invested on the development of energy conservation projects and community green spaces, coinciding with our intention for the shopping centre to coexist with the neighbourhood and its people, and together create a better quality of life. 

Our contributions in the protection of the local and global environment include the minimized use of chemicals with the in-door air conditioning system to reduce health risks and maximize the safety of our staff while maintaining a more positive impact on the environment. 

The 17,000 solar cell panels installed on the expansive 60,000 square meter surface of the shopping centre’s roof will produce the maximum solar power of 13-million kilowatt-hours per year and reduce carbon dioxide emission up to 8.3 million kilograms per year. 

Consequently, this will cause the air conditioning system to consume 20% less electricity. The construction of a new, internationally standardized wastewater treatment plant with chemical-free membrane technology will produce treated water with a good enough quality to be used in watering plants and cleaning inside the shopping centre, and lessen over 100,000 units from the total annual water consumption. 
 
Included in our new extensions are more green spaces that are open to the public, free of charge. Our Mega Park, which is sited on 7 Rai land (11,200 square meter), is intended to be a new local public park for the Bangna residents. The park includes play areas for children with playground equipment with high quality and safety standards as well as tree houses, fountains and artificial waterfalls. 

The park also welcomes visitors with pets to use and participate in special activities without any fee. Not only that, the Mega FoodWalk’s extension is designed to be a semi-outdoor space with a beautifully curated landscape of rocky hills, streams and waterfalls. 

The outer perimeter of Mega FoodWalk is revamped into a landscape with the Scandinavian Playground concept, which consists of a massive playground with a Stream Valley where visitors can hang out and relax. 

The Sand Dune Zone, which is open for children to play for free, is designed into a luscious, shaded area. All these green spaces and facilities serve as an urban oasis that Bangkok rarely gets to see. Despite being well aware of the commercial opportunities this space can bring, we choose to give this wonderful recreation ground to the community and our customers, in hope that it will become a place where family members spend their quality time together; a space everyone can truly benefit from and enjoy.
 
In celebration of Megabangna’s 10th anniversary, over THB 20 million worth of marketing budget will be spent on our special campaigns and promotions as our way of saying thank you to our customers who have been supportive of us throughout our amazing first decade. 

In the month of May and July of 2022, every spending made at Megabangna (under the set terms and conditions) will grant each shopper a chance to win over THB 2 millions worth of prizes. The top prizes include a Honda Accord 1.5 TURBO EL (THB 1,499,000), a Leica Q2 camera (THB 197,000), THB 50,000 worth of IKEA gift voucher and ten other amazing top rewards. 
 
We also prepare the special campaign, Surprised Weekend!, for the May 7th and 8th  2022 weekend. Every shopper who shops at Megabangna has a chance to be the winners of the THB 100,000 worth surprise from the 10 participating stores. 

During the weekends throughout the month of May, all the stores at Megabangna will be offering double privileges for every shopper. The first privilege includes special shopping discounts, premium gifts or special menus when dining at over 80 participating stores and restaurants under the set terms and conditions. The next privilege comes in the form of a special collection of premium gifts customized for the celebration of Megabangna’s 10th anniversary, gifted to customers whose purchases meet the set terms and conditions.
 
Joining the celebration of Megabangna’s birthday, the members of Mega Smile Rewards will be gifted ten times the point on every spending made only on May 5th, 2022. This exclusive offer will apply only to the first 100 customers (with no more than THB 100,000 purchase for each client). In addition to the promotional campaigns we have in store for our customers, Megabangna will also be preparing our shopping centre to welcome everyone with incredible decorations and fun activities, bringing everyone the ultimate shopping experiences, every weekend throughout the month of May.
 
“‘We Create a Better Everyday Life for the Many People’ is still the vision and mission in the past ten years for all of us here at Megabangna. It is our dream and goal to create a place for people and the community to grow alongside our business, with our support and through our endeavor to bring a more sustainable, and greater way of living for Thailand and its people. Megabangna will continue to move forward and develop our work and projects to help the Thai retail market compete in a global arena with great strength and pride,” concluded Palinee. 
 
 

Published : May 03, 2022

By : THE NATION

Ministry plans overseas promotion for products having Thailand Trust Mark

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The Department of International Trade Promotion (DITP) will celebrate the 10th anniversary of the creation of the Thailand Trust Mark (T Mark) certificate by stepping up promotions of 229 products that have earned the T Mark, the department’s chief said.

Ministry plans overseas promotion for products having Thailand Trust Mark

DITP director-general Phusit Ratanakul said on Tuesday that 229 Thai manufacturers have earned the T Mark during the past 10 years.

“This year, the DITP will hold promotion activities to ensure recognition of Thai products with T Mark certificate so that they will be widely known in Asia and Oceania, especially in the Chinese and Indian markets,” Phusit said.

He said China and India topped the list of five countries that imported products with T Mark.

Among the planned activities, the DITP will hold an event in Kunming in China this year to promote the T Mark sign and it will also select some products with T Mark certificate to be displayed in leading department stores in India, Phusit added.Ministry plans overseas promotion for products having Thailand Trust Mark

The director-general said products certified as T Mark must meet international standards in terms of quality, and their production process must be environmentally friendly while the hiring of workforce must be fair.

Phusit said the T Mark certificate will give foreign buyers the confidence about the quality and origin of the goods.

Ministry plans overseas promotion for products having Thailand Trust MarkHe added that Thai manufacturers would be encouraged to follow the Bio-Circular-Green Economy model to be eligible for T Mark.

Published : May 03, 2022

By : THE NATION

Japanese PM assures Thailand of EV investment in EEC this year

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Thailand and Japan pledged closer economic cooperation and the visiting Japanese prime minister promised an investment in the electrical vehicles industry in the Eastern Economic Corridor this year.

Japanese PM assures Thailand of EV investment in EEC this year

The pledges were made on Monday when Prime Minister Prayut Chan-o-cha discussed economic cooperation plans with Japanese counterpart Fumio Kishida.

According to Thai officials, the two sides discussed and agreed to draft a five-year plan for economic cooperation as soon as possible to develop their economic partnership. The five-year plan will be used for driving economic cooperation between the two countries.

Prayut also pledged support for the Asia-Japan Investing for the Future (AJIF) initiative of Japan. The Japanese prime minister said the initiative will see Japanese entrepreneurs invest more in the EEC, and especially in the electric vehicle industry.

The Japanese prime minister said Thailand has potential for investments by Japanese firms and Thailand is considered by Japan as the most important investment base in Southeast Asia.

Fumio also said during the meeting that Japanese carmakers would continue to use Thailand as their manufacturing base and would focus on making advanced vehicles.

The two prime ministers agreed to work towards advanced human resources development. Fumio said Japan would build more Kosen (National Institute of Technology) branches in Thailand.

Japan will also cooperate with Thailand to develop infrastructure and develop clean energy technology to promote carbon zero-emission that would benefit Japanese investments in Thailand in the long term, Komio was quoted as saying during the meeting.

EEC Office deputy secretary-general Phet Shinabutr said Japan aims to invest THB25 billion in the EEC this year, compared to THB19.8 billion last year.

Prayut thanked Komio for providing aid and support in various forms to Thailand to mitigate the impact of the Covid-19 crisis. Prayut expressed appreciation for Japan’s donation of Covid vaccines, oxygen-generating machines, and equipment for storing vaccines as well as providing soft loans to Thailand to mitigate the Covid economic impact.

Published : May 03, 2022

Singed by fuel price, Trang fishing boat owners berth their trawlers

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Owners of fishing boats in Trang province have gradually berthed their fleet after the retail price of diesel oil reached THB32 per litre.

Singed by fuel price, Trang fishing boat owners berth their trawlers

Asurvey by The Nation found that more than half of the fishing boats operating from the Yimsia fishing pier in Trang’s Kantang district had stopped going out to the sea as the owners could not bear the fuel costs.

Subin Ketrat, who owns a fleet of trawlers, said that commercial fishing boat owners were in trouble due to the rise in diesel price, because each fishing trip by their fleet consumed a lot of fuel.

Subin said he has four commercial fishing trawlers and 13 smaller boats with lighting bulbs to attract fish to be caught by the trawls.

For each trip, he deploys a fishing boat and three lighting boats. Each trip would require about 25,000 litres of diesel, so fuel cost for each trip would amount to THB800,000, excluding the cost of ice, foods for fishing crew and wages.

He said each boat is manned by some 30 workers and he has to pay the wages in advance.

Singed by fuel price, Trang fishing boat owners berth their trawlersSubin said each trip needed to return with catches worth at least THB1.5 million to allow him to stay in business but the fishes are increasingly harder to find.

Subin said he had to berth half of his fishing boats, like other owners, because of the high fuel cost.

Even worse, Subin said the catches did not fetch a good price because it seemed consumers do not have much buying power.

Some fishing crew said they fear that their employers would be out of business and they would lose their jobs.

A fish vendor also complained that fishing boats did not return with enough fish for her to buy for reselling in Pattani like she used to earlier. She said she has concerns that fishing boat owners might stop their business because of the rising oil prices.

Published : May 03, 2022

By : THE NATION

Baht plummets against dollar as US Fed preps rate rise

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The baht opened at 34.46 to the US dollar on Tuesday, plummeting in value from Friday’s close of 34.22.

Baht plummets against dollar as US Fed preps rate rise

The Thai currency is expected to move between 34.35 and 34.55 during the day and between 34.10 and 34.60 during the week, Krungthai market strategist Poon Panichpibool said.

Poon forecast the baht would fluctuate and likely test the resistance level of 34.50 as the dollar strengthens before the US Federal Reserve’s meeting and gold buying transactions.

He advised monitoring foreign investments in the Thai stock market, adding that inflows could slow the baht’s weakening. However, foreign investors would likely wait for the results of the Fed meeting on Wednesday before making moves.

Poon advised Thailand-based businesses to use hedging tools such as options to manage risks in the highly volatile currency market.

The Fed is expected to signal an interest rate rise to 0.75 per cent on Wednesday. However, anything lower would likely trigger the dollar to weaken, Poon said.

Moreover, if the terminal rate marking the end of the Fed’s current hiking cycle moves to 3.75 per cent, US 10-year bond yields are likely to drop and put more pressure on the dollar to weaken.

However, the dollar is still supported by the Ukraine-Russia conflict and the Covid-19 situation in China, which are driving European and Asian currencies to weaken.

Published : May 03, 2022

By : THE NATION

Nation Group confident of return to profitability with One Nation strategy

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Nation Group (Thailand) Plc is optimistic of generating 800 million baht revenue this year and becoming profitable once it fully implements its One Nation strategy.

Nation Group confident of return to profitability with One Nation strategy

Nation Group CEO Shine Bunnag and vice chairman Somchai Meesen said they are confident the company will become profitable this year.

Speaking after a shareholders’ meeting on April 29, Shine said good progress is being made in restructuring the group’s businesses and its subsidiaries under the new strategy.

At the April 29 meeting, shareholders unanimously agreed to change the company’s name from Nation Multimedia Plc (NMG) to Nation Group (Thailand) Plc (NATION).

The shareholders also approved Nation Group’s purchase of 85.99 million shares, equivalent to 99.99 per cent of registered shares, of NBC Next Vision Co Ltd (NNV) at THB2.79 each from Nation Broadcasting Corporation Plc (NBC). The stake will cost the company THB239.72 million.

The Nation Group also gave NNV a THB221.30-million loan to repay its debt to NBC.

The transactions totalling THB461.02 million will be completed by July.

The shareholders also approved the sale of 691.03 million shares in NBC, a 61.46 per cent stake, at THB898.32 million to Nattapong Sitaworarat and Boon-ua Jitthanom. These transactions are also expected to be completed by July.

Shine said it was heartening to see that the shareholders of both Nation Group and NBC had approved everything on the meeting agenda.

He said these approvals will allow the Nation Group to go ahead with restructuring under the One Nation policy.

“This marks a new milestone for Nation Group as it steps forward to continue serving as a responsible, unbiased media company,” Shine said.

He said the aim of the One Nation policy is to synergise the workings of Nation Group’s eight media firms, namely Krungthep Turakij, Komchadluek, Nation Thai News, NationTV 22, The Nation Thailand, The People, Kob Sanam and Spring Online.

Under this synergy, the group’s media outlets will continue adhering to the code of ethics to help fight corruption, protect national and public interest as well as maintain professionalism with social responsibility, he said.

“We enter our 51st anniversary this year as a media group that has been standing by Thai people for a long time. We are the largest media group in Thailand and have always adhered to our ideology of being a media institute for the nation and the people,” Shine said.

Nation Group confident of return to profitability with One Nation strategyNBC to focus on 3 businesses

Shine said NBC will use the THB461.03 million it has earned from the sale of its NNV stake for repayment of debt and to expand three businesses – media, home-shopping channel, and call centre.

The home-shopping business will focus on health products, the CEO said.

“Once the transactions are completed, Nation Group will become financially strong. We will have cash in our hands and be ready to expand,” he said. “The restructuring of Nation Group should be completed within May in line with the One Nation policy.”

Cashing in on synergy

Vice-chairman Somchai said Nation Group’s purchase of NNV shares has made the group’s structure clearer and leaner. Also, he said, with the restructuring, Nation Group can cut down on redundant costs.

“Apart from reducing unnecessary costs, the One Nation policy will also boost efficiency by bringing all arms of the group together. Under this synergy, they can all share resources for utmost benefit to Nation Group and NNV,” Somchai said.

He added that all media companies under Nation Group will link their online and offline platforms to earn more revenue. The group expects to record online income growth of at least 20 per cent this year compared to last year.

He said conventional media publications are still necessary for producing trustworthy content and for holding events, fairs and award ceremonies.

He said Nation Group expects THB800 million in revenue this year and should return to making profits again after a loss of THB118.07 million last year.

He reckons the Nation Group will realise a profit of about THB437 million from the sale of its shares in NBC and its investment in NNV.

Somchai added that Nation Group also plans to boost shareholders’ equity to over 50 per cent of paid-up capital so that the Stock Exchange of Thailand can remove the “C” or caution mark from the group’s stock sign.

As for the expected profits, he said Nation Group will use the gains to reduce its debt as much as possible. This way, he said, the group will be able to reduce its interest burden and make the company financially stronger. The company paid THB43 million in loan interest last year, he added.

Somchai said Nation Group will hire a financial adviser to help handle and clear accumulated losses of THB3.26 billion from its books so the group can start paying dividends to its shareholders in the future.

Branching out

Somchai also talked about the group’s new business venture – Nation Coffee.

He said Nation Group entered the coffee business because it has the potential to grow as people love drinking coffee.

The initial plan was to set up 10 Nation Coffee outlets, but it was put on hold due to the Covid-19 crisis. But now that the crisis is easing, Nation Coffee will look to open branches in co-working spaces, he said.

“We started the coffee business in June 2021. It’s normal for a new business to suffer losses. During the first six months of operation, Nation Coffee suffered a loss of THB1.75 million. But if we can have 10 branches, we will definitely return a profit,” he said.

Somchai also unveiled a plan to repackage The Nation’s 51 years of content into digital assets. He said the group has appointed Future Competere to design its token and NFT business, and more details will be available in the third or fourth quarter of this year.

Also, he said, under the One Nation strategy, the Nation Group will repackage its content to create documentaries that can be aired via the internet or other platforms.


Published : May 02, 2022

By : THE NATION

Finance Ministry may extend diesel excise tax reduction but at half rate: source

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The Finance Ministry may extend the reduction of diesel excise tax when the tax cut period expires on May 20 but the new reduction rate may be just Bt1.5, not Bt3, a ministry source said Monday.

Finance Ministry may extend diesel excise tax reduction but at half rate: source

The source said the extension of the excise cut would depend on several factors, including the global oil situation and the government’s capability to find other sources of income.

Following the resolution of the Cabinet, the Excise Department issued a ministerial directive, which took effect from February 18 to May 20, to reduce the excise tax on diesel oil by Bt3 to Bt3.2 per litre.

The source said there is almost a month before the current tax cut period would expire and the global oil price situation may already improve by that time. In that scenario, the excise cut would not be necessary.

The source explained that the Russia-Ukraine war has continued for over 60 days. During the first period of the war, the global oil prices rose to US$120-130 per barrel and gradually declined to the current price of US$105 per barrel. The source said the oil price was not expected to rise more than the current level but it expected to go down after the war situation eased.

The source said if the Finance Ministry had to extend the excise cut, the cut would be Bt1.50, not Bt3 as in the current practice.

Apart from the excise cut, the government also had the Oil Fund subsidize the retail price of diesel at the rate of 50 per cent for the price that is higher than Bt30. Without the tax cut and partial subsidy, the diesel price would have risen to Bt38 per litre from Sunday, the source added. On Sunday and Mondy, diesel oil retails for Bt31.94 per litre.

So far, the government has lost its revenue by Bt17.1 billion from the excise tax cut for diesel from February 18, the source said.

Fortunately, the government could offset the loss of revenue from revenues from state enterprises that had better performance than expected, the source added.

If the government extends the cut on diesel excise tax, it would have to look for other sources of income to meet its target income of Bt2.4 trillion this year, the source said.

Initially, the Excise Department projected revenue from oil excise tax for 2022 at Bt200 billion. But when the government cut the diesel excise for three months, the department lowered its projected income from oil tax to Bt180 billion, the source said.

Published : May 02, 2022

By : THE NATION

Raw material import quota raised amid animal feed shortage

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The Commerce Ministry has approved a proposal to increase the quota for import of maize and other crops to make animal feeds for three months to tackle shortages, Commerce Minister Jurin Laksanawisit said on Monday.

Raw material import quota raised amid animal feed shortage

Jurin was speaking to reporters after chairing a meeting of the maize policy and management committee and the food policy committee at the Kitiyakara Voralaksana Hall in the Commerce Permanent Secretariat Building.

Representatives from the Internal Trade Department, the National Farmers Council, the Crops Growers and Traders Association, the Thai Feed Mill Association, the Thai Tapioca Trade Association and the hen farmers association attended the meeting.

Jurin said the meeting was held to approve a joint proposal made during a meeting of representatives from five sides recently. The five sides are: representatives of the Commerce and Finance ministries, representatives of maize and tapioca farmers, the Crops Growers and Traders Association, the hen, chicken, and pig farmers associations and the Thai Feed Mill Association.

Raw material import quota raised amid animal feed shortageThe meeting agreed with the proposal of the five sides to allow more imports of maize and other crops for making enough feeds for hen, chicken and pig farmers, Jurin said.

The meeting recommended animal feed-makers to import raw materials from neighbouring countries, especially Myanmar, during the next three months.

Jurin said the Commerce Ministry will hold an online business matching activity for Thai importers to match sellers in Myanmar on Tuesday.

Raw material import quota raised amid animal feed shortageThe meeting also approved three other measures:

— The requirement for importers of wheat to buy maize in the country in the ratio of 1:3 will be suspended from now until July 31.

— The import quota of maize will be increased from 54,700 tonnes to 600,000 tones from now until July 31 and the import tariff on maize will be reduced from 20 per cent to zero during the period.

— The Commerce Ministry will help hold online business matching for importers of raw materials for making animal feeds.

The quotas of all raw materials during the period will be increased to 1.2 million tonnes during the period, Jurin added.

Published : May 02, 2022

By : THE NATION

Thai exports’ record high masks patchy performance: Shippers’ Council

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https://www.nationthailand.com/business/40015146


Thai export performance remains patchy despite hitting a 30-year high in March, the Thai National Shippers’ Council (TNSC) said on Sunday.

Thai exports’ record high masks patchy performance: Shippers' Council

Thailand’s exports in March increased 19.5 per cent from a year earlier to US$28.85 billion, rising for the 13th consecutive month.

However, export performance varied from sector to sector.

The biggest rise was seen in exports of gold, at 1,046.7 per cent, followed by computers, gems and jewellery, oil and fat, and sugar.

But revenue from automotive exports products fell 12.8 per cent in March, the TNSC pointed out.

“When we subtract gold, oil and military supplies from the tally, the real total export of Thai products expanded only 8.9 per cent,” TNSC chairman Chaichan Charoensuk pointed out.

“Exporters still need to monitor the global situation closely – especially the ongoing Russia-Ukraine war and China’s lockdown to curb the spread of Covid-19 in Shanghai, which are likely to affect Thai exports for months to come,” he added.

In March, Thai exports of cars fell by 2.6 per cent, pickup trucks by 29 per cent, automotive components by 4.2 per cent and air conditioning components by 6.1 per cent.

Thai automotive exports have been dropping for the past seven months on low demand from markets such as Australia, Japan, Malaysia, India, Vietnam and the United States.

Published : May 02, 2022

By : THE NATION

Flights to/from Thailand back at pre-Covid level this year: CAAT

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https://www.nationthailand.com/business/40015147


Aviation authorities expect the number of flights to and from Thailand to recover to pre-Covid levels late this year after entry restrictions were lifted on Sunday.

Flights to/from Thailand back at pre-Covid level this year: CAAT

The Civil of Aviation Authority of Thailand (CAAT) reports that is seeing more international flights following the cancellation of the Test & Go scheme yesterday.

Thailand is currently recording about 44,500 flights per month – 33,500 domestic flights and 11,000 international flights.

CAAT estimates that this total will rise to 83,500 flights late this year, with 53,000 domestic and 30,000 international flights. The latter figure is close to the 2020 pre-Covid level of international flights landing and taking off in Thailand, it added.

Prime Minister Prayut Chan-o-cha had monitored the lifting of Test & Go restrictions on Sunday and thanked government agencies for a smooth transition, government spokeswoman Traisulee Taisaranakul said.

Transport Minister Saksayam Chidchob informed Prayut that there were no serious problems, apart from some congestion at Thailand Pass counters during the peak time for flight arrivals. Airports responded by deploying additional staff at the counters and ensuring travellers maintained social distancing in queues.

Only a few passengers had to be transported from the airport to quarantine at their hotels on Sunday, mainly because they were unvaccinated, the spokeswoman said.

Although Prayut boasted that Thailand has fully reopened, the Thailand Pass system remains intact and requires foreign travellers to register before arrival. They need to show either proof of full Covid-19 vaccination or a negative RT-PCR test taken within 72 hours. Those failing to meet these criteria face five days in hotel quarantine with an RT-PCR test on day 4 or 5.

On Sunday, 96 flights landed at the Suvarnabhumi Airport, bringing in 16,868 passengers. Nearly all had been fully vaccinated or showed proof of a negative RT-PCR test, the spokeswoman said. Only 11 were required to undergo hotel quarantine.

Meanwhile, Phuket Airport saw 27 flights carrying 4,400 arrivals, only 18 of whom had to be quarantined at their hotels.

Published : May 02, 2022