Cinema posted the highest growth in ad spending in July at 55.89 per cent to Bt979 million, up from Bt628 million earned in July last year. Meanwhile, ad spending on in-store media jumped 8.79 per cent to Bt99 million, up from Bt91 million. Ad spending on transit media also increased slightly by 1.20 per cent to Bt504 million in July this year, up from Bt498 million in 2018.

Newspapers still suffered the biggest decline in ad spending, down 27.67 per cent to Bt400 million from Bt553 million. Ad spending on magazines also fell significantly by 24.75 per cent from Bt101 million to Bt76 million.

Ad spending on terrestrial and digital TVs dropped 3.33 per cent in July this year to about Bt5.774 billion, from Bt5.973 billlion, Cable and satellite TVs also saw a 3.50 per cent drop in ad spending from Bt200 million to Bt193 million. Radio advertising was equally affected, dropping 1.44 per cent year on year, or from Bt418 million to Bt412 million while outdoor media followed the same trend, dipping 0.34 per cent from Bt590 million to Bt588 million in July this year.

Ad spending in the first seven months of this year continued to fall, going down to Bt59.861 billion from Bt60.920 billion.

A white paper study entitled “Additive manufacturing: adding up growth opportunities for Asean”, recently launched by global engineering giant thyssenkrupp, discussed Thailand’s position as a rising star in Asean’s AM scene, with 25 per cent of market share. Driven by automotive, chemicals, and healthcare industries, AM adoption in the country continues to evolve with more local and foreign players.

Automotive, in particular, leads Thailand’s potential for AM applications as global automakers such as Toyota and BMW utilise such manufacturing. The industry has signed promising partnerships with renowned research institutions such as Singapore’s NTU to develop materials for vehicle parts.

Among the academe, Kasetsart University has launched a Digital Prototyping Laboratory, the first cloud service for a printer farm in Southeast Asia to run university education programmes and research development.

The Thai government is also helping push AM adoption. Recently, the Science and Technology Ministry signed a Memorandum of Understanding with Autodesk and the National Science and Technology Development Agency to establish a joint Digital Manufacturing Platform in support of the country’s National Digital Economy Master Plan. The MOU is expected to improve manufacturing competitiveness through industry-wide adoption of leading-edge 3D technologies and digital manufacturing capabilities.

With a huge potential for the Asean market to leverage AM given its contribution to global manufacturing output, the AM market is estimated to generate up to $100 billion (Bt3.07 trillion) on incremental value by 2025, impacting the region’s projected real GDP by 1.5 to 2 per cent.

“As our study shows, additive manufacturing delivers enormous potential to transform the Asean region and level up vital sectors,” said Jan Lueder, CEO of thyssenkrupp Asia-Pacific regional headquarters. “Additive manufacturing will surely be an innovative solution to further drive growth in Asean, as long as stakeholders work together to continue building awareness as well as a supportive ecosystem for AM adoption and development. Establishing our TechCentre Additive Manufacturing hub in Singapore now reflects our commitment to bring our transformative innovations closer to the Asia-Pacific region to meet our customers’ needs,” he said.

On average, land prices nationwide have risen by 8.3 per cent, Wilawan Veerakun, deputy director general of the Treasury Department said, explaining that the department recently completed the new land appraisals.

Land prices in the EEC rose more than 10 per cent due to the government’s initiative to boost a new round of investment in Chonburi, Chachoengsao and Rayong. Meanwhile, price of land in Khampaeng Phet province has gone up 200 per cent though no rise has been recorded for the six years, she said.

The land price appraisal by the Treasury Department is used for tax collection purposes, but market price is usually much higher than the department’s evaluation.

Twenty-nine per cent of land parcels saw a price rise, 70 per cent remained unchanged from the previous appraisal while one per cent showed a decrease due to a new method of appraisal that uses digital technology to explore the details of each land parcel feature, she explained.

Tax collection is currently based on land valuations published in January last year, which saw a 32 million parcels of land evaluated. The new appraisal price will be used in 2020-2021 and covers 33.4 million land parcels.

The most expensive land prices are located in prime areas of Bangkok namely where Chidlom Road meets Rama I Road, around Paragon Department Store, and on Ratchadamri road, with each square wah (4 square metres) costing Bt1 million up from Bt 900,000.

The department will send the valuations of land parcels, buildings and condominiums to local governments in November, she added.

Sale of real estate in Thailand is subject to five tax items: 2 per cent transfer fee, 1 per cent lease registration (where mortgages are involved), 3.3 per cent specific business tax, 0.5 per cent stamp duty and withholding tax, for which rates vary depending on prices and period of ownership.

The source from the Government House said the stimulus package would be submitted for Cabinet deliberation either at this week’s or next week’s meeting.

The source said the government plans to spend some Bt20 billion to stimulate the economy by giving an extra Bt1,000 for each state welfare card holder to spend. The government has earlier allowed low-income people to register to receive a monthly allowance that is remitted to their accounts and can be used for buying monthly necessities and for travelling costs.

The source said the extra Bt20 billion is aimed at alleviating economic hardship and that the money would revive the economy at the grassroots level.

The source said the government also plans to spend Bt15 billion to stimulate tourism by allowing each Thai, who is at least 18 years old, to receive a Bt1,500 subsidy to spend visiting a province.

The source said tourists must stay at hotels or resorts registered for the project and these venues would be allowed to reimburse Bt1,500 to each tourist staying there. Visitors would have to pay any additional costs themselves.

The source said the government believes the measure will stimulate domestic tourism.

Yutthasak Supasorn, governor of the Tourism Authority of Thailand, confirmed that the government was aimuing to stimulate domestic tourism by allowing Thai citizens, who are at least 18 years old, to be eligible for Bt1,500 subsidy each for visiting second-tier tourism provinces.

Yutthasak said that 55 provinces are classified as second-tier tourist destinations. About 10 million Thais would be eligible for the subsidy, he added.

Yutthasak said he believes the measure would really stimulate tourism.

Tourism and Sports Minister Phiphat Ratchakitprakan had discussed the measure with Finance Minister Uttama Savanayana and that the finer details would be worked out before the project was submitted to the Cabinet for approval.

An earlier plan of the Prayut I government to boost tourism by giving Bt1,500 cash to each citizen was cancelled following strong criticismsfrom social networkers.

The same Government House source said the government would also spend Bt15 billion to help farmers and small and medium-sized entrepreneurs, including a measure to subsidize interest payments for the SMEs.

The government believes the stimulus package would help the economy expand by almost 3.5 per cent this year, the source added.

THAI president Sumeth Damrongchaitham said the national carrier had an “emergency plan” to cope with the situation.

THAI cancelled three flights on Tuesday – Hong Kong-bound TG606 scheduled to depart Bangkok at 4pm and TG602 at 6.30pm, and Bangkok-bound TG607, scheduled to leave Hong Kong at 8.45pm.

The China Post reported earlier on Monday that all flights out of Hong Kong International Airport had been cancelled for the rest of the day.

Amnuay Preemonwong, the department’s director general, said it would be a better option than seeing them abandoned or becoming increasingly dilapidated.

The decision would not apply to structures formally registered as historic sites.

The department has about 200 such buildings around the country in its inventory, all signed over by state agencies.

Amnuay said some buildings in Ayutthaya could be turned into boutique hotels or leased out for movie shoots.

Amonrat Klampob, the department’s adviser on real estate development, said 60 of these buildings could be redeveloped now, 21 of them in Bangkok

The lessee would have to collaborate with the department on plans to preserve their inherent value, she stressed.

She said that Prayut, who is also the Minister of Defence, had expressed his concerned about the global economy and the trade dispute, and had reiterate that all economic authorities are to report information regarding the impacts related to those economic challenges so that they could be discussed by the newly created “economic cabinet” in the near future.

Narumon said that Thai exports had experienced significant impacts from the slowdown of the world economy, as well as from the trade war that has been building between China and the US since the beginning of last year and has caused a 2.7 per cent decline of export value in the first five months of this year.

However, the plunge in Thailand’s export is lower than that experienced by other markets in the region, such as Indonesia and South Korea, which suffered export declines of 8.7 per cent and 7.4 per cent respectively in the first five months of 2019.

“We however expect the economic impact of the trade dispute between China and the US will be limited. It will have both positive and negative sides. The negative one is on products being affected by the rise of import duties, which have been imposed by the US on all countries around the world, such as on electronic circuits, computers and its parts and accessories. For the positive side, Thailand can take [advantage of ] a replacement opportunity in the Chinese markets, including in agricultural goods, agricultural industry products, foods and beverages, rubber and plastic products and chemical goods,” she said.

“In addition, the trade tension is also leading to the relocation of investments from China to Thailand. China is one of major foreign capital sources of Thailand, ranking the 7th highest, with US$5.012 billion (Bt154.17 billion) in outstanding value last year. However, China has raised its ranking to the second in the first quarter of this year, having US$9.072 billion (Bt279.05 billion)in total outstanding value, and with 30 investment projects from China asking for the Board of Investment’s promotional privileges.”