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https://www.nationthailand.com/blogs/business/40010807

One month after the China-Laos-Thai railway opened, Thai authorities are worried that freight trains loaded with Chinese vegetables and flowers could also be importing unwelcome arrivals into the country.

Deputy Minister of Agriculture and Cooperatives Mananya Thaiset has ordered Nong Khai officials to tighten checks for pests and Covid-19 in the Chinese goods.

Since the railway opened on December 3, Nong Khai has inspected 159 Chinese shipments totalling 2,292 tons and valued at 41 million baht (as of January 3).

The top imported item was Chinese cabbage (419 tons), followed by broccoli (253 tons), pointed cabbage (120 tons), saussurea flowers (81 tons) and turnips (80 tons).

The Nong Khai checkpoint has so far seized two Chinese vegetable shipments for lacking a phytosanitary certificate and will destroy them within 14 days.

Published : January 06, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/blogs/business/40010806

The Thai Chamber of Commerce (TCC) warns that Thailand risks long-term economic and social impacts if the government imposes another lockdown.

TCC chairman Sanan Angubolkul issued the warning on Thursday after the Public Health Ministry raised the Covid-19 alert level from 3 to 4 amid the outbreak of omicron variant. It also recommended banning inter-provincial travel and gatherings while imposing a work-from-home policy.

Opposing any tightening of restrictions, the TCC pointed out that most of the country was fully vaccinated and the healthcare system is far from full capacity.

It urged authorities to focus on advising people to be cautious, applying strict health controls at public venues, and accelerating booster vaccination to reduce infection severity and create herd immunity.

Sanan said that imposing a new lockdown would put the country back to square one.

The private sector wants the government to focus instead on increasing control measures in risk areas, preparing the health system in each province – especially for the severely ill, and creating better public awareness of the Home Isolation and Hospitel measures. Sanan added that the private sector was ready to bring back bubble-and-seal measures for businesses.

Published : January 06, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010787

Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Thursday (January 6) would move between 1,665-1,670 points due to uncertainty over the US Federal Reserve signalling it would raise interest rate sooner than expected to deal with rising inflation.

It added that the surge in Thailand daily Covid-19 infections would affect investors’ confidence. 

“Meanwhile, mass sell-offs of shares in response to technical signs at the resistance level of 1,680 points would pressure the index,” Krungsri Securities said.

It also recommended buying of the following companies’ shares as an investment strategy:

• BCH, CHG, IMH, SMD and TM, which benefit from rising Covid-19 cases.
• RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate.
• EA, GPSC, AMATA, WHA, AH and SAT, which benefit from the government’s support on electric vehicles.
• PTTEP, TOP, PTTGC, IVL and SPRC, which benefit from rising oil price and gross refining margin.

The SET Index closed at 1,676.79 on Wednesday, up 0.39 per cent. Transactions totalled 93.12 billion baht.

Published : January 06, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010784

The baht opened at 33.26 to the US dollar on Thursday, weakening from Wednesday’s closing rate of 33.20.

The Thai currency is likely to move between 33.15 and 33.35 to the greenback during the day, Krungthai Bank market strategist Poon Panichpibool predicted.

Poon said that investors are speculating the US economic data. The market expected the service sector will grow continuously.

Moreover, the market is waiting for the statement from the US Federal Reserve’s official after the Fed sent a signal to increase the policy interest rate faster than expected.

Poon said that the baht is likely to swing sideways while the Omicron situation and the dollar strengthening might pressure the baht to weaken.

However, foreign investors did not worry about the Omicron situation and continued to invest in Thai stocks this week. Foreign investors also bought 13 billion baht of short term bonds.

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Published : January 06, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/blogs/business/40010777

Thailand is mulling cutting pig exports after PM Prayut Chan-o-cha urged action to combat the rising price of pork.

The price of fresh pork has risen to 200 baht per kilogram after the New Year break.

The pig farming industry predicts it will likely increase to 300 baht/kg soon.

On Wednesday, the government said the Agriculture and Cooperatives and Commerce ministries had discussed a short-term reduction of exports to increase domestic supply of pork and lower the price in Thailand.

For the medium to long term, the Department of Livestock Development would focus on boosting capacity of small farms, including measures to combat swine disease.

Over the past two years, several outbreaks have damaged pig production in Thailand.

However, the government forecasts pork prices will return to normal in about four months. It cited talks with agricultural and export-import companies to reduce the cost of importing animal feed and raw materials. The government said it was also helping farmers to boost corn-feed production from Thailand’s current capacity of 4 million tonnes per year to the 8 million tonnes needed to feed Thai livestock.

Published : January 05, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/blogs/business/40010776

Two of Thailand’s economic engines are beginning to roar again after being ravaged by falling foreign demand during the Covid-19 crisis. The textile and garment industries suffered severe impacts in 2020, with 3,000 factories forced to switch to sewing face masks and PPE suits to survive.

But the Thai fabric industry turned a corner in 2021 and has now catapulted back to full capacity.

In the first 11 months of 2021, Thailand exported 64.8 billion baht of garments and 188.6 billion baht of textiles, Thai Garment Manufacturers Association president Yuttana Silpsarnvitch revealed.

Thailand benefited from increased demand for garments from the US due to its trade war with China.

Thai textile exports were boosted by demand from apparel-producing territories such as Vietnam, Cambodia, Indonesia, India, Europe and the US garment factories.

Thailand’s garment and textile factories have returned to 100 per cent capacity, but this has triggered a labour shortage after foreign workers returned to their home countries during the Covid-19 crisis. The factories are currently short of 30,000 to 50,000 workers and are dependent on overtime work.

The Garment Manufacturers Association forecasts export growth of 10 per cent in 2022 while textile exports are expected to grow 15 per cent.

Yuttana said demand for garments and textiles was being driven by the trend for environmentally friendly products. Major brands are ordering products made from recycled fibres, organic cotton and other eco-friendly materials to satisfy customer demand. These items cost about 20 per cent more than regular clothes, he said.

Published : January 05, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010765

Forbes has named the Chearavanont Brothers the richest in Thailand and Elon Musk the richest in the world after the Tesla CEO bagged almost $30 billion (THB997.5 billion) in a single day.

Forbes named Musk the globe’s richest, with his wealth totalling $290.7 billion after he earned almost $30 billion in a single day following a record number of Tesla vehicle deliveries in the fourth quarter of 2021.

Tesla’s stock accelerated about 13.5 per cent, at $1,199.78 a share, on Monday, helping the company’s market value increase by $144 billion after the electric vehicle firm delivered 308,600 vehicles in the fourth quarter of 2021. The company’s annual vehicle deliveries also rose 87 per cent year-on-year.

Investment firm Wedbush Securities described it as a “jaw-dropping” performance because chip shortage and logistical problems were the main issues last year.

The 10 richest people in the world according to Forbes are:
1. Elon Musk (Tesla CEO)
2. Bernard Arnault (LVMH CEO)
3. Jeff Bezos (Amazon founder and executive chairman)
4. Bill Gates (Microsoft co-founder)
5. Larry Page (Alphabet co-founder)
6. Larry Ellison (Oracle co-founder, CTO and chairman)
7. Mark Zuckerberg (Facebook CEO, Meta chairman)
8. Sergey Brin (Alphabet co-founder)
9. Warren Buffett (Berkshire Hathaway CEO)
10. Steve Ballmer (Owner, Los Angeles Clippers).

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According to Forbes, the 10 richest people in Thailand:
1. Chearavanont Brothers (Charoen Pokphand Group)
2. Chalerm Yoovidhya (Red Bull)
3. Charoen Sirivadhanabhakdi (Thai Beverage)
4. Chirathivat family (Central Group)
5. Sarath Ratanavadi (Gulf Energy Development CEO)
6. Osathanugrah Family (Osotspa: M-150)
7. Somphote Ahunai (Energy Absolute)
8. Prasert Prasarttong-Osoth (co-founder of Bangkok Dusit Medical Services)
9. Prachak Tangkaravakoon (TOA Paint – Thailand)
10. Chuchat Petaumpai & Daonapa Petampai (Muangthai Capital).

Published : January 05, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010752

The baht opened at 33.25 to the US dollar on Wednesday, strengthening from Tuesday’s closing rate of 33.31.

The Thai currency is likely to move between 33.15 and 33.35 to the greenback during the day, Krungthai Bank market strategist Poon Panichpibool predicted.

Poon said that the baht is likely to swing sideways while the Omicron situation might pressure the baht to weaken.

However, foreign investors did not worry about the Omicron situation and continued to invest in Thai stocks this week.

Moreover, Poon said that the baht might strengthen because investors are selling gold while the dollar is weakening. 

The baht’s key support level would be from 33.10 to 33.20, the level some importers are waiting for so they can buy dollars, he added.

Related News

Baht strengthens as market opens amid more risks

Baht likely to continue drifting sideways across New Year

Baht continues to strengthen despite Omicron situation

The key resistance level for the baht would be from 33.40 to 33.50 to the dollar, which is the level at which exporters might sell the US currency. 

Published : January 05, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010750

Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Wednesday (January 5) would rise to between 1,675-1,680 points before falling.

It said the index still gained positive sentiment from the foreign fund inflow as concerns over Omicron Covid-19 variant has been relieved.

Hopes over Thailand economic recovery, plus rising oil prices in response to Opec+ move to raise oil production capacity, would also help boost the index, it added.

“However, the news of a new ‘IHU’ Covid-19 variant in France would pressure the index,” Krungsri Securities said.

It also recommended buying of the following companies’ shares as an investment strategy:

• HMPRO, CPN, CRC, SYNEX, COM7 and JMART, which benefit from the government’s “Shop Dee Mee Kuen” (shopping with refunds) scheme.
• RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate.
• EA, GPSC, AMATA, WHA, AH and SAT, which benefit from the government’s support on electric vehicles.
• PTTEP, TOP, PTTGC, IVL and SPRC, which benefit from rising oil price and gross refining margin.
• BBL, TTB, KTB and KBANK, which benefit from news of interest rate hike.

The SET Index closed at 1,670.28 on Tuesday, up 12.66 points or 0.76 per cent. Transactions totalled 100.01 billion baht with an index high of 1,674.19 and a low of 1,663.50.

Published : January 05, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/blogs/business/40010737

hai drivers thinking of buying an electric vehicle (EV) might want to delay their purchase, after the Cabinet failed to deliver tax breaks on Tuesday. The year’s first Cabinet meeting left much-anticipated EV tax measures off the menu, putting the brakes on Thailands switch to EVs.

Finance Minister Arkhom Termpittayapaisith had stoked expectations last week at the final Cabinet meeting of 2021, announcing that customs and excise measures for the EV industry were ready.

But he added that the Cabinet was still waiting for the EV board to present details of packages to promote EV use in Thailand.

The full package of measures is expected to be presented to Cabinet soon.

According to the government’s target, 30 per cent of cars on Thai roads will be EVs by 2025.

Published : January 04, 2022

By : THE NATION