More applications for pico finance operators as govt cracks down on loan sharks
The number of people applying for pico finance and pico-plus finance operation licences has been constantly rising, Pornchai Triraveja, spokesman for the Fiscal Policy Office (FPO) said.
Apico finance operator is one with a capital of at least 5 million baht who is allowed to lend no more than 50,000 baht per borrower. A pico-plus operator has a capital of 10 million baht and can lend up to 100,000 baht per person.
In March, 877 companies from 75 provinces applied for a licence, with the top three provinces being Nakhon Ratchasima (77 applicants), Bangkok (63) and Khon Kaen (51).
Meanwhile, the number of firms applying for a pico-plus licence in March stood at 147 from 46 provinces. Nakhon Ratchasima again led the list with 22 applicants, followed by Udon Thani with nine and Ubon Ratchathani with eight.
“Since the Finance Ministry began accepting applications for both licences since December 2016, pico finance operators have given out 484,638 loans totalling 11.37 billion baht or an average of 23,461 baht per account,” Pornchai added.
As of February, 186,913 loans worth 4.12 billion baht were still outstanding. Of these, 27,981 accounts worth 641.62 million baht were short-term loans for up to three months.
Meanwhile, 31,500 worth 736.04 million baht were non-performing loans.
“From December 2016 to March this year, 9,118 loan sharks have been arrested in police operations, with 214 nabbed in March alone,” he added.
Flight of foreign funds, inflation could drag SET down
The Stock Exchange of Thailand (SET) Index rose by 7.30 points, or 0.47 per cent, to 1,555.43 at 10.02am on Friday. The volume of total transactions was THB7.34 billion with an index high of 1,558.86 and a low of 1,554.04.
Krungsri Securities predicted that the SET Index would fluctuate between 1,535 and 1,560 points despite hopes of economic recovery after the number of US jobless claims fell to the lowest in a year.
“Uncertainty over rising inflation, falling crude price and outflow of foreign funds would pressure the index,” Krungsri Securities predicted.
It recommended that investors buy:
▪︎ EA, GPSC, BPP and ROJNA, which are related to electric vehicles.
▪︎ HANA, KCE, TU, CPF and EPG, which benefit from the weakening baht.
▪︎ ADVANC, INTUCH and WHAUP, which pay high dividends.
The SET Index closed at 1,548.13 on Thursday, down 23.72 points or 1.51 per cent. The volume of total transactions was THB143.71 billion with an index high of 1,561.80 and a low of 1,501.02.
Gold gets a boost from buy-ups as US bond yield slides
The price of gold rose by THB100 per baht weight in morning trade on Friday, thanks to mass buy-ups of safe-haven assets amid the decline in US bond yield and uncertainty over rising US inflation.
The Gold Traders Association report at 9.26am showed the buying price of a gold bar at THB26,950 per baht weight and selling price at THB27,050, while gold ornaments were priced at THB26,469.36 and THB27,550, respectively.
At close on Thursday, the buying price of a gold bar was THB26,850 per baht weight and selling price THB26,950, while gold ornaments were priced at THB26,363.24 and THB27,450, respectively.
Spot gold price on Friday was US$1,824 (THB57,165) per ounce compared to Thursday when it rose by $1.2 to $1,824 per ounce.
Hong Kong gold price on Friday rose by HK$100 to $16,920 (THB68,268) per tael, the Chinese Gold and Silver Exchange Society reported.
The online meeting between the Legal Execution Department and creditors to vote on Thai Airways (THAI)’s rehabilitation plan was postponed by a week to May 19.
The move came after 20 creditors, who are owed THB32.61 billion or 24.40 per cent of THAI’s total THB133.70 billion debt, asked for the meeting to be postponed as they did not have time to study the most recent version of the rehabilitation plan.
The revised version of the plan was submitted on Tuesday afternoon and the meeting was scheduled to be held the following day.
The creditors who asked for the meeting to be postponed are:
• Federation of Savings and Credit Cooperatives of Thailand
• Thammasat University Savings and Credit Cooperative
• Chulalongkorn University Savings Cooperative
• Kasetsart University Savings and Credit Cooperative
• Electricity Generating Authority of Thailand Saving and Credit Cooperative
• Provincial Electricity Authority Employees Saving and Credit Cooperative
• Thai Airways International Employees Saving Cooperative
• Hatyai Hospital Saving and Credit Cooperative
• The Rubber Authority of Thailand Saving and Credit Cooperative
• PTT Saving and Credit Cooperative
• Department of Fisheries Saving and Credit Cooperative
• Comptroller General’s Department Saving and Credit Cooperative
• Prince of Songkhla University Saving and Credit Cooperative
• Credit Union League of Thailand
• Government Pharmaceutical Organisation Saving and Credit Cooperative
SET down more than 1.5% as fear of US rate rise hits Asian markets
The Stock Exchange of Thailand (SET) Index closed at 1,548.13 on Thursday, down 23.72 points or 1.51 per cent. The volume of total transactions was THB143.71 billion with an index high of 1,561.80 and a low of 1,501.02.
In the morning session, Krungsri Securities forecast the index on Thursday would fall to between 1,555 and 1,560 points after the US recorded a higher-than-expected inflation rise in April’s Consumer Price Index, triggering worries of a rate hike and tapering of quantitative easing by the Federal Reserve.
The index would be under pressure from a weakening baht, foreign fund outflows and the SET’s move to impose cash-balance regulations on Delta Electronics shares, Krungsri Securities added.
“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve would help boost the index,” it predicted.
The 10 stocks with the highest trade value today were CPALL, TIDLOR, STA, KBANK, STGT, PTT, SAWAD, PTTGC, IVL and SCGP.
Other Asian indices were on the fall:
Japan’s Nikkei Index closed at 27,448.01, down 699.50 points or 2.49 per cent.
China’s Shanghai SE Composite Index closed at 3,429.54, down 33.22 points or 0.96 per cent, while the Shenzhen SE Component Index closed at 13,917.65, down 147.21 points or 1.05 per cent.
Hong Kong’s Hang Seng Index closed at 27,718.67, down 512.37 points or 1.81 per cent.
South Korea’s KOSPI closed at 3,122.11, down 39.55 points or 1.25 per cent.
Taiwan’s TAIEX Index closed at 15,670.10, down 232.27 points or 1.46 per cent.
Asean market connectivity enhanced with addition of Philippines
The Securities Commission Malaysia (SC), the Monetary Authority of Singapore (MAS) and the Securities and Exchange Commission of Thailand (SEC Thailand) have signed a supplemental memorandum of understanding (MoU) with the Securities and Exchange Commission Philippines (SEC Philippines) to admit it as a new signatory to the Asean Collective Investment Schemes (CIS) Framework.
The entry of the Philippines into the framework is the latest step towards enhancing capital market connectivity in the region.
The Asean CIS Framework is an initiative under the regional capital markets integration plan endorsed by Asean finance ministers in 2009 to facilitate cross-border product access and fund distribution for investors and issuers respectively.
With SEC Philippines’ participation in the Asean CIS Framework, qualified investment companies in the Philippines and their fund managers will now be able to offer eligible funds to retail investors in the other three member jurisdictions, and vice versa.
Syed Zaid Albar, chairman of the SC congratulated SEC Philippines, saying: “Under the Asean CIS Framework, retail investors are able to tap into a wider choice of funds from beyond their borders, and fund managers can offer their products cross-border under an efficient approval system.
“The addition of the Philippines to the three existing jurisdictions under the Framework broadens the range of regional funds for portfolio diversification, and we hope for more participation from our Asean counterparts in the future.”
SEC Philippines’ chairperson Emilio Aquino, said: “We deeply appreciate the tireless efforts and dedication of SC, MAS and SEC Thailand in facilitating the admission of the Philippines into the Asean CIS Framework, especially members of Asean CIS Working Group B who played important roles in achieving this significant milestone, thereby allowing us to participate and be able to showcase our collective investment schemes.
“The expansion of the Asean CIS initiative to the Philippines further strengthens connectivity in the Asean region. As the fourth signatory to the Framework, we will also endeavour to work together with other signatories in encouraging other Asean countries in joining the Framework and in promoting cross-border offerings of Asean Funds.”
Lim Tuang Lee, assistant managing director (Capital Markets), MAS, said: “SEC Philippines’ participation in the Asean CIS Framework marks a progressive step towards greater integration of Asean capital markets.
“The enhanced reach of the platform will open up new opportunities and markets to both fund managers and investors in participating member states. We welcome SEC Philippines’ participation, and look forward to more Asean members joining the framework.”
Ruenvadee Suwanmongkol, SEC Thailand’s secretary-general, said: “We are delighted to welcome the Philippines as a new signatory to the Asean CIS Framework, which fosters more inter-connected, inclusive, and resilient Asean capital markets.
“This new partnership will create more business opportunities and strengthen economic cooperation among Asean member states while enriching the pool of funds available for investment in Asean. We look forward to the participation of more Asean member states in this framework over the coming years.”
The Stock Exchange of Thailand (SET) Index fell by 20.79 points or 1.32 per cent to 1,551.06 at 10.01am on Thursday. The volume of transactions was THB8.24 billion with an index high of 1,554.15 and a low of 1,549.06.
Krungsri Securities predicted the index would fall between 1,555 and 1,560 points due to rising US inflation after the country’s Consumer Price Index in April was higher than expected, which has triggered worries that the Federal Reserve would hike the interest rate and reduce its quantitative easing programme.
The index would be under pressure due to a weakening baht, foreign fund outflows and the SET’s move to impose cash-balance regulations on Delta Electronics shares, Krungsri Securities added.
“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve would help boost the index,” it predicted.
It recommended investors buy:
▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.
▪︎ Hana, KCE, SMT, TU and CPF, which benefit from the weakening baht.
▪︎ EPG, CPF, BCH, CHG, TWPC and Wice, whose first-quarter turnover is expected to improve.
The SET Index closed at 1,571.85 on Wednesday, down 7.08 points or 0.45 per cent. The volume of total transactions was THB117.16 billion with an index high of 1,578.34 points and a low of 1,557.94.
Gold skids over higher US inflation, worries Fed may hike rates
The price of gold dropped by THB50 per baht weight in morning trade on Thursday due to uncertainty over higher US inflation, which could trigger the Federal Reserve to hike the interest rate. Meanwhile, the strengthening dollar and rising US bond yield also pressured the gold price.
AGold Traders Association report at 9.27am showed the buying price of a bar at THB26,900 per baht weight and selling price at THB27,000, while gold ornaments were priced at THB26,408.72 and THB27,500, respectively.
At close on Wednesday, the buying price of a bar was THB26,950 per baht weight and selling price THB27,050, while gold ornaments were priced at THB26,469.36 and THB27,550, respectively.
The spot gold price on Thursday was US$1,822 (THB57,098) per ounce compared to the price on Wednesday, when it dropped by $13.10 to $1,822.80 per ounce.
The Hong Kong gold price on Thursday dropped by HK$110 to $16,850 (THB67,984) per tael, the Chinese Gold and Silver Exchange Society reported.
Huawei Contribute to Thailand through Technology-Empowered Healthcare
Huawei Commits to Grow in Thailand, Contribute to Thailand through Technology-Empowered Healthcare amid Covid-19 Challenges. The doctors are using AI-assisted diagnose solution to analyze CT scans and compare them with over 4,000 cases
In Bang Khun Thien Hospital, the largest field hospital in Thailand on the frontline of the fight against COVID-19, the doctors are using AI-assisted diagnose solution to analyze CT scans and compare them with over 4,000 cases stored in a database that is accessed using a local high-speed 5G network. This solution enables COVID-19 diagnoses to be processed in just 25 seconds per case. In the meantime, the patients in this field hospital are remotely registering their own medical data, such as temperature, symptoms, etc., thus avoiding direct physical contact and minimizing the risk of COVID transmission.
This is made possible by the recent cooperation between Huawei Technologies (Thailand) Co., Ltd and the Ministry of Digital Economy and Society (MDES) in strengthening Thailand’s public health sector, especially for the field hospitals, to accommodate the increasing number of COVID-19 patients in Thailand and to support hospitals improve their medical capacity and hi-speed communication network. The cooperation covers provision of technologies for medical use worth more than six million baht to ensure safety for the medical staff and patients, including AI-assisted diagnose solution, 5G telemedicine, InPatient area Intelligent Management, and eLTE broadband trunking delivered to Bang Khun Thien field hospital in Bangkok.
Over the past year, the economic and social disruption caused by the pandemic is devastating, with significant impact on individual, industry and national economy across the world. In Thailand, different actors in both public and private sectors are closely working together to manage the spread of COVID-19 and boost post-pandemic recovery, among which Huawei has been proactively integrating its leading technology into Thailand’s fight against COVID-19 and long-term digital transformation.
As Mr. Abel Deng, CEO of Huawei Thailand, emphasized, this new cooperation with MDES is in alignment with Huawei’s commitment to continuously grow in Thailand and contribute to Thailand as a technology-leading ICT partner and proactive digital transformation enabler, especially amidst such challenging times as the ongoing spread of pandemic. According to Mr. Abel in several speeches, Huawei will stand firmly with Thailand and transform the ongoing crisis into new opportunity by applying digital technology including to 5G, Cloud and AI to tackle challenges in the public health and other sectors.
If we look back at Huawei’s footprints in 2020, it is clear that starting from the early outbreak of COVID-19 in Thailand, Huawei has been closely working with Thai government, industry partners and hospitals to protect people and get society back up and running. On March 10th 2020, Huawei donated its telemedicine video conference solution to Thailand hospitals and Disease Control Department. In less than one week, Huawei’s project team managed to finish installing the systems at all 5 locations. The donations, totaling around 10 million baht, included seven sets of Telepresence Systems and 200 mobile user accounts, which enabled medical experts across Thailand to work with frontline medical staff to conduct remote online consultations and monitor the patients’ condition on smart devices with fewer infection risks. On the same day, HE General Prime Minister Prayuth Chan-Ocha, Deputy Prime Minister and Minister of Public Health Anutin Charnvirakul visited the IT Center of DDC. Through the Video Conference System, Prime Minister expressed his regards to the medical staffs at Bamrasnaradura Hospital, Banplee Hospital, the Suvarnabhumi Airport, and encouraged Huawei to keep contributing to Thailand’s digital transformation and improve people’s lives with its technological expertise.
After donating the video conference to enable remote consultations, Huawei further worked to improve Thailand hospitals’ medical diagnosis and evaluation using CT images. At the peak of the pandemic, the number of patients usually exceeds the treatment capacity of the hospital. The traditional CT technology thus became incapable of providing fast and accurate diagnosis. To solve this problem, on March 31st last year, Huawei worked with Thailand’s Ministry of Digital Economy and Society and Digital Economy Promotion Agency to donate AI-Assisted Service to Ramathibodi Hospital, aimed to help medical staffs with medical image analysis and can provide COVID-19 Diagnosis Results in as quick as 25 seconds per case. This illustrated how HUAWEI CLOUD, the first world-leading cloud service provider in Thailand, brought the technological innovation to Thai medical services.
As Professor Piyamitr Sritara, Dean, Faculty of Medicine Ramathibodi Hospital, Mahidol University said, “The Artificial Intelligent technology helps clinical doctors to achieve faster and more accurate diagnosis. The solution can greatly help reduce the workload of Thai medical personnel in this situation.” As another effort to apply this success experience, in the following April, Huawei teamed up with Siriraj Public Hospital to provide AI solutions and 5G technology for the latter. “The AI technology can help doctors analyze CT quantification results of infection cases with high accuracy and low infection risks.” said Dr Prasit Watanapa, Dean at the Faculty of Medicine Siriraj Hospital from Mahidol University. On the same day, Prime Minister Prayut Chan-o-cha visited Siriraj hospital to inspect its epidemic prevention progress, working conditions, and patient treatment. He also tried the AI-assisted diagnosis service provided by Huawei.
In addition to the two public hospitals above, we also see Huawei actively strive to bring technology innovation to the private organizations as well. On April 22th, Bangkok Hospital Pattaya, in cooperation with Huawei, HY Medical from China, and Chanwanich Co., Ltd. (Chanwanich), jointly developed AI technology to assist in the screening and diagnosis for traces in patients undergoing treatment for COVID-19, thereby establishing Bangkok Hospital Pattaya to be regarded as the first private hospital in the region that have adopted such technology which will be used to help support medical personnel in more accurate screening and diagnosis of the virus.
These aforementioned efforts have proved to be highly valuable and effective in supporting Thai Government in its post-COVID-19 economic recovery efforts and accelerating Thailand’s digital technology with 5G adaptation. As the pandemic situation develops in Thailand, on June 12th, Prime Minister Prayut Chan-o-cha welcomed Mr. Abel Deng, CEO of Huawei Thailand at the Government House of Thailand. On this occasion, the Prime Minister and Huawei CEO exchanged views on leveraging digital innovations and expertise as well as 5G ecosystem to support Thailand become the region’s digital technology leader. Huawei also reiterated its commitment to support Thailand during this challenging time with the donation of 500,000 face masks for further prevention of COVID-19.
Based on this meeting with prime minister, Huawei speeds up the integration of 5G and other leading technologies in Thailand’s smart healthcare. On June 25th, in partner with the National Broadcasting and Telecommunications Commission (NBTC) and Siriraj Hospital, Huawei utilized its 5G technology advantages to launch the piloting unmanned vehicle project for the first time in Thailand, transforming Thai healthcare with 5G innovation into smart hospital. The autonomous car offered safe, convenient and cost-effective solutions while reducing workload for healthcare worker and improving patient safety. According to NBTC, the 5G technology integration would then be progressively applied in the national health system for Smart Hospital transformation in the near future.
Growing upon Huawei’s previous cooperation and success experiences with Siriraj hospital, with the goal to further support Siriraj Hospital’s mission to serve better by becoming a smart center that will apply integrated digital technologies using 5G infrastructure, artificial intelligence, big data and cloud edge computing, Huawei signed a MOU of “5G Powered Smart Hospital Enabled with Cloud and AI” with the Faculty of Medicine Siriraj Hospital, Mahidol University on December 3rd. According to Prof Dr Prasit Watanapa, dean of the Faculty of Medicine Siriraj Hospital, this five-year MOU will raise the level and standards of our services and improve operational efficiency. This also marks the initial step in establishing Thailand’s first 5G smart state hospital.
As we can see, Huawei’s aforementioned efforts have strongly helped the Thai government and society fight COVID-19 and accelerate post-pandemic digital economy. Starting from its establishment in Thailand 21 years ago, this tech giant has actively empowered Thailand’s journey to become the most advanced 5G country and digital hub in the ASEAN region. In the meantime, Huawei is also continuously contributing social values to Thai community as a responsible local citizen with over 3,300 employees, including digital talent cultivation, narrowing local digital gap, and promoting sustainable development.
Because of Huawei’s valuable support to Thai society in the past 21 years and its efforts to support post-pandemic digital transformation, on March 9th 2021, Huawei has been chosen for the Special Prime Minister Award as the “Digital International Corporation of the Year”. It is the only company to receive this award. On this occasion, Prime Minister Prayut Chan-o-cha expressed the government’s goal of employing 5G and AI systems to drive Thailand forward and asked Huawei to continue its digital mission. In response, Mr. Abel Deng stressed that with the mission of ‘Grow in Thailand, Contribute to Thailand’, Huawei will keep accompanying the country move forward to Thailand 4.0 as a technology-leading and trusted ICT partner, proactive digital transformation enabler, and continuous social value contributor especially during this challenging time.
“Purra” Thailands First mineral water Certified By Aquacert
“Purra” is Thailands first-ever mineral water to be certified by Aquacert (France), which ensures every manufacturing process, making Purra world-class mineral water that consumers can confidently consume.
“Purra” is Thailand’s first-ever mineral water to be certified by Aquacert (France), which ensures every manufacturing process, making Purra world-class mineral water that consumers can confidently consume. The brand also aims to build the brand further by making the brand more contemporary with new label designs in 2021.
Mr. Thitiporn Dhammabhimukkul, Chief Marketing Officer of Boonrawd Trading Co., Ltd., revealed that manufacturing quality products is always the company’s focus. The company is determined to manufacture an international-standard product to build Purra’s credibility and respond to consumers’ needs.
“2021 is another important year for Purra as the brand receives Aquacert Institute’s certification, which ensured that all of our mineral water manufacturing processes are up to the standard, building consumer confidence. Purra is also Thailand’s first and only mineral water brand to receive this certification.”
The brand is invested in differentiating from competitors by being a 100% natural mineral water with vital vitamins for the body with Silica, Calcium, Magnesium, and PH8 and embodying fashion to stand out in the mineral water market, making Purra a truly consumer’s brand in both beneficial, from vital minerals, and positive perception towards the brand.
The newly designed Purra labels will be even more contemporary and standout but still possess the brand’s uniqueness with Purra’s signature, the mountain element, in a more modern and sophisticated take with minimal composition in blue and gold hue, delivering an outstanding yet straightforward label design.
The new label design will be applied to all Purra’s SKUs, the 330, 600, 750 ml, and 1.5 liters, these are available now at convenience stores such as 7-Eleven, Tops, Tesco Lotus, Big C, Family Mart, leading department stores nationwide, and Singha Online Shop.
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