Bangkok Airways upbeat, predicts 4.5m passengers next year

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Bangkok Airways upbeat, predicts 4.5m passengers next year

Bangkok Airways upbeat, predicts 4.5m passengers next year

TUESDAY, DECEMBER 13, 2022

Bangkok Airways reckons it will be able to fly nearly 3 million passengers this year, and about 4.5 million next year now that Thailand has lifted all Covid-19 restrictions.

In an interview with Thansettakij, the airline’s president and CEO Captain Puttipong Prasarttong-Osoth said bookings began rising as soon as the government lifted the Thailand Pass registration system.

In the first nine months of this year, the number of Bangkok Airways bookings has risen to 40% of pre-pandemic levels, he said.

Puttipong said 1.7 million passengers took Bangkok Airways flights from January to September, marking a 528% increase compared to the same period last year. In the first nine months of 2021, Bangkok Airways only had 270,000 passengers.

During the same period this year, the airline earned 8.12 billion baht and its seat-occupation ratio has risen to 74%.

“We have already gone beyond our target. Our aim was to earn 8.18 billion baht in revenue and achieve 73% seat occupation this year, and we have crossed that target in just the first nine months,” he said.

“Based on this, we can safely say we will have 2.64 million passengers in total this year and earn about 10 billion baht.”

The number of domestic passengers was higher earlier this year, but bookings on international Bangkok Airways flights began picking up since September 1, he added.

Puttipong said 50% of Bangkok Airways flights are to and from Koh Samui, while the other 50% is covered by flights to other local destinations and neighbouring countries like Cambodia, Laos, Myanmar and Vietnam.

“Our situation is gradually returning to normal now that Thais can travel overseas,” Puttipong said.

The ratio of foreign passengers to domestic passengers now stands at 60:40 compared to 80:20 before the pandemic, the CEO added.

In the first nine months of this year, Bangkok Airways reinstated flights to 17 domestic airports and to seven international ones.

From January to September, the airline completed 19,000 flights compared to just 4,800 in the same period last year.

Before the pandemic, Bangkok Airways flew to 34 destinations, 17 in Thailand and 17 overseas.

He said the airline expects to achieve bookings of up to 80% of pre-Covid levels, getting some 4.5 million passengers compared to 6 million before the pandemic.

Bangkok Airways also plans to launch six new international flights next year, from Koh Samui to Hong Kong, Kuala Lumpur, Chengdu and Chongqing and from Bangkok to Mandalay and Phu Quoc in Vietnam.

However, Puttipong said his airline will take into account Covid restrictions in other countries and the global economic situation before launching the new routes.

Apart from resuming flights, Bangkok Airways will also invest in the development of the U-Tapao Airport in Rayong and the Eastern Aviation City project through its subsidiary, U-Tapao International Aviation Co Ltd (UTA).

Puttipong said the U-Tapao Airport project will be delayed for a year, while UTA negotiates the extension of investment phases from four to six. He said UTA believes the growth of passengers will be slower than initially expected.

He added that Bangkok Airways will also invest in the expansion of its airport in Trat by extending the runway to accommodate larger planes and expanding the passenger terminal.

World Bank urges government to increase tax revenue and reduce inequality

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World Bank urges government to increase tax revenue and reduce inequality

World Bank urges government to increase tax revenue and reduce inequality

WEDNESDAY, DECEMBER 14, 2022

Nongluck Ajanapanya

The World Bank is urging the government to speed up efforts to increase tax revenue and better target spending so that it focuses on helping the most vulnerable groups to reduce inequality.

It also lowered Thailand’s growth forecast for 2023 from its June estimate of 4.3% to 3.6% now, citing declining exports as one factor.

The World Bank provided its analysis and recommendations at the launch of its “Thailand Economic Monitor (TEM) : Fiscal Policy for a Resilient and Equitable Future”.

The report describes Thailand’s economic performance over the previous six months, and provides a summary of economic and policy developments in Thailand within national, regional, and global contexts.

Fabrizio Zarcone, World Bank country manager for Thailand, said the Thai economy was showing resilience despite global headwinds, pointing to its 4.5% annualised growth in the third quarter. A resurgence of private consumption and strong inflows of tourists are driving growth, Zarcone said.

Although growth is expected to be 3.4% this year and 3.6% in 2023, Thailand faces a number of challenges, the report says. 

These include geopolitical uncertainty, the possibility of prolonged high energy prices, a deeper slowdown in global economic activity, and further deterioration of Thailand’s fiscal space.

Thailand must transform its economy to sustain its growth momentum, Zarcone said.

Fabrizio ZarconeFabrizio Zarcone

The World Bank has identified three key areas where Thailand can build a more resilient and equitable society in the medium and long term.

First, Thailand’s policies should prioritise increasing the potential rate of growth and economic resilience by increasing public investment in areas such as innovation, skills, and digital infrastructure to improve human capital. Furthermore, Thailand must liberalise the services sector and accelerate the process of household debt reduction.

Second, the government needs to ensure adequate fiscal space to meet the additional spending needs associated with an aging society and to provide a buffer for future shocks.

Lastly, focusing on more targeted social assistance spending is a cost-effective way to mitigate the pain associated with the rising risk of a prolonged period of high energy prices and other future shocks. Thailand’s low tax revenue collection contributes to a lack of investment in pro-poor spending.

According to World Bank senior economist Nadia Belhaj Hassine Belghith, inequality is one of Thailand’s most significant long-term challenges.

Despite Thailand’s low poverty rate, income distribution is very uneven, with a large revenue gap between the rich and the poor.

Belhaj proposed raising tax revenue without burdening the poor and eliminating some generous deductions and allowances to improve tax collection while making the system more equitable.

“Stop using the current universal energy subsidy scheme because it creates an unnecessary burden for the government to bear and instead focus on groups in need,” the senior economist said.

Kiatipong Ariyapruchya, senior economist for Thailand at the World Bank, added that the current crisis serves as a catalyst for much-needed structural reforms to improve the quality and allocation of spending while also raising structurally low revenue.

“Meeting the spending need while also improving the distributional impacts of fiscal policies and undergoing fiscal consolidation necessitates more efficient and targeted spending as well as additional revenue mobilisation efforts,” he said.

Nongluck Ajanapanya

Japanese restaurants see record-breaking growth in Thailand

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Japanese restaurants see record-breaking growth in Thailand

Japanese restaurants see record-breaking growth in Thailand

WEDNESDAY, DECEMBER 14, 2022

The number of Japanese restaurants in Thailand rose 21.9% in 2022 over the year before, the highest jump since the Japan External Trade Organisation (Jetro) began keeping track in 2007, Jetro said on Wednesday.

Jetro recorded a total of 5,325 Japanese restaurants in Thailand this year, up 955 from 4,370 in 2021. It said the expansion of Japanese restaurants has been prominent in Bangkok and its surrounding provinces. However, since 2019, it has been possible to find Japanese restaurants in every province, according to Jetro.

Japanese restaurants see record-breaking growth in Thailand

“I’m glad that more Japanese restaurants are opening in Thailand … [they] offer a great opportunity for Japanese food lovers to taste Japan’s delicious dishes and expand the market for Japan’s food industry,” said Jun Kuroda, president of Jetro Bangkok.

“Jetro Bangkok will continue to promote Japanese cuisine among Thais and facilitate the import of high quality agricultural and food products from Japan to Thailand,” Jun added.

Japanese restaurants see record-breaking growth in Thailand

Jetro’s latest survey found that 1,404 new Japanese restaurants opened in Thailand this year: 448 were sushi restaurants, 263 offer Japanese cuisine, and 185 focus on ramen.

However, 105 Japanese restaurants shut down in Thailand this year, a number that is significantly lower than the tally in 2021, when the Covid-19 crisis forced 231 restaurants to close their doors, Jetro said.

In the survey’s interview section, restaurant operators said sales in 2022 have increased to about 70%-90% of pre-pandemic levels. Restaurants face other challenges, including rising costs of ingredients and labour, as well as the commission taken by food delivery services and the ongoing appeal of using these services.

Japanese restaurants see record-breaking growth in Thailand

Jetro said its Bangkok office launched several campaigns this year to boost sales of Japanese products and services, including the “Made in Japan: Genuine Japanese raw materials” campaign that runs from November 1 until February next year. The campaign will bring Japanese beef, pork and seafood to 236 restaurants in Thailand.

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Baht opens 34.58/dollar on Wed but all eyes on Fed meeting

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Baht opens 34.58/dollar on Wed but all eyes on Fed meeting

Baht opens 34.58/dollar on Wed but all eyes on Fed meeting

WEDNESDAY, DECEMBER 14, 2022

The baht opened at 34.58 to the US dollar on Wednesday, strengthening from Tuesday’s close of 34.80.

The currency will likely move between 34.50 and 34.70 against the greenback during the day, Krungthai market strategist Poon Panichpibool said.

Poon said that the baht strengthened quickly last night amid dollar weakening and gold sales after its price breached the resistance level.

However, baht strengthening will slow as investors wait for results of the US Federal Reserve meeting on interest policy on Thursday morning (Thai time), he added.

He said the baht might strengthen today before the meeting results as the market is in a risk-on state with investors buying Thai short and long-term bonds as US bond yield falls.

Poon estimated the baht’s key support level at 34.50 to the dollar.

He expected a stronger dollar and higher US 10-year bond yield if the Fed takes a “hawkish” view and raises its policy rate in line with a peak level beyond 5.00%.

However, he doubted baht would weaken past its resistance level at 35 as most investors are waiting to sell the dollar or short the dollar-baht market.

Poon also advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.

Related stories

Tourism revival boosts Thailand’s industries sentiment index

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Tourism revival boosts Thailand's industries sentiment index

Tourism revival boosts Thailand’s industries sentiment index

TUESDAY, DECEMBER 13, 2022

The Thai Industries Sentiment Index (TISI) showed a month on month improvement, reaching 93.5 points in November, bolstered by the tourism sector despite concerns over energy price.

Federation of Thai Industries (FTI) president Kriengkrai Thiennukul and FTI executive committee member Pipope Chokvathana said that the TISI in November had increased slightly over the previous month to 93.5 points, thanks to the growing number of foreign tourists.

Since the country’s economic activity is already back on track, consumption and expenditure in the country have flourished.

“Meanwhile, the construction sector was likely to bounce back as the demand for construction products and building materials used for household repairs has recently been on the rise after the improvement in the flood situation,” the FTI said.

Also, exporters have benefited from the plunging freight rates, it added.

The FTI expects the TISI index to reach 97.0 points in the next three months, lower than the previous forecast of 98.8 points due to concerns among entrepreneurs about rising production costs, especially the energy price that still remains high, and inflation that has lowered the country’s purchasing power.

It also pointed out that 70% of entrepreneurs were worried about the global economy, citing its survey conducted on 1,315 entrepreneurs from 45 types of industrial sectors in November this year.

Meanwhile, 43.5% of entrepreneurs were concerned about the domestic political situation, while 43.3% had issues with loan interest rates,” the FTI said.

It said that some businesspeople had suggested the government should control production costs, for example, maintaining the electricity cost per unit to be no more than 4.72 baht or encouraging business owners to invest in renewable energy in manufacturing so as to reduce electricity costs.

“Businesspeople have also advised the government to implement policies supporting the country’s soft power in a bid to attract foreign tourists to Thailand,” the FTI added.

Related stories:

New energy plan will save Thailand over THB500 billion in energy costs over 15 years

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New energy plan will save Thailand over THB500 billion in energy costs over 15 years

New energy plan will save Thailand over THB500 billion in energy costs over 15 years

TUESDAY, DECEMBER 13, 2022

Thailand’s revised Energy Efficiency Plan (EEP) will help save the country 532.46 billion baht in energy costs by 2037, the Alternative Energy Development and Efficiency Department (AEDED) said.

Prasert Sinsukprasert, AEDED director-general, said on Tuesday that the 2022 EEP, which will replace the 2018 plan and be in force until 2037, will boost energy conservation from 30% in 2018 to 36% over the next 15 years. He said the plan is to reduce the use of energy in the next 15 years by 49,064 kilotonnes of oil equivalent (ktoe), which will save the country 532.455 billion baht.

The 2022 EEP is among the five national energy plans that aim to push Thailand toward carbon neutrality within 2050 and net-zero emissions by 2065.

Prasert said the 2022 plan is still being drafted and should be ready by next year before it is submitted to the Energy Policy and Planning Office (EPPO) for endorsement and the Cabinet for approval. The plan should be implemented by mid-next year, he added.

He went on to say that the new plan will reduce energy intensity (EI) by 40% within 2050, conserving energy by 64,340ktoe.

The plan will be enforced in the form of 14 measures under three strategies covering five target groups, namely industries, buildings, households, agriculture and transport, he said.

Measures aimed at industry, for instance, would control energy consumption at factories, he said. For example, he said, a 2,000-square-metre factory will be required to meet standards in heat insulation, lighting, air-conditioning, hot-water system and alternative energy.

This measure would also include the enforcement of an energy code for factories, commercial buildings, households, and farming as well as measures for conserving energy in the transport sector.

The EEP plan will also promote the use of power-saving labels on four types of machinery including agricultural and construction equipment and household appliances. He said the EEP will also promote energy-saving innovations like smart home systems and smart farming.

In 2021, Thailand consumed 71,998ktoe in energy.

FTI urges government to provide relief in fuel costs

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FTI urges government to provide relief in fuel costs

FTI urges government to provide relief in fuel costs

TUESDAY, DECEMBER 13, 2022

The Federation of Thai Industries (FTI) asked the government to slow down the increase in fuel tariff (FT) from January to April 2023 to reduce the burden of high energy costs.

FTI vice chairman Isares Rattanadilok na Phuket said on Tuesday that energy price is currently fluctuating and is likely to increase continuously due to the Ukraine-Russia war and the Covid-19 situation.

These situations have caused inflation and recession, and industries, including the manufacturing, servicing, and household sectors, were greatly affected.

He said that the FTI had earlier sent a letter to Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow and Samerjai Suksumek, chairman of the Energy Regulatory Commission (ERC), between August and November.

The federation had contacted them to seek a solution on energy costs and natural gas price structure, and sought a slowdown in the rate of FT cost but had not got an answer.

The FTI proposed to the government sector to reconsider and postpone the increase of FT cost from January to April 2023 and solve the problem at its root because every sector will have to shoulder the burden.

Isares said, “If [the FT cost] increases again in January to April 2023, electricity bills would go up substantially for two consecutive times and would affect every sector severely in adapting, causing recession worse than expected”.

Meanwhile, it will decrease Thailand’s competitiveness as the manufacturing and service sectors are major industrial sectors driving the country’s economy.

The government should review the guidelines to solve high energy costs and the decision to increase the electricity bill to be fair to every sectors so that businesses can operate with strengthen and compete on the global stage while also creating opportunities for investments in new industries.

Isares also asked the government to ease some operating obstacles such as getting a licence for factories or installing solar cells.

He also wanted cooperation with the Board of Investment to be quick and cover every business group. He suggested adjusting the oil formula of ethanol and gasoline.
 

Related stories

AstraZeneca vaccine highly effective at preventing COVID-19 severe outcomes and death when used as first or second booster: study

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AstraZeneca vaccine highly effective at preventing COVID-19 severe outcomes and death when used as first or second booster: study

AstraZeneca vaccine highly effective at preventing COVID-19 severe outcomes and death when used as first or second booster: study

TUESDAY, DECEMBER 13, 2022

WHO recommends COVID-19 Vaccine AstraZeneca as booster in revised Good Practice Statement on the use of COVID-19 Boosters, based on latest data

BANGKOK – AstraZeneca’s COVID-19 vaccine (ChAdOx1-S [Recombinant]) was highly effective at preventing Omicron-related COVID-19 severe outcomes or death when used as a first booster, irrespective of the type of vaccines previously given, with an 89% relative risk reduction. Following a second booster, protection increased further with no severe outcomes or death being observed. The data from Thailand’s Chiang Mai University and Chiang Mai Provincial Health Office, et al, was published in the International Journal of Infectious Diseases. In all schedules studied, a booster with COVID-19 Vaccine AstraZeneca was shown to offer comparable protection to mRNA vaccines. 

Based on the latest data, including that from the Chiang Mai University, and following advice issued by the Strategic Advisory Group of Experts (SAGE) on immunisation, the World Health Organisation (WHO) has revised its Good Practice Statement on the use of COVID-19 boosters to include the use of viral vectored vaccines, including COVID-19 Vaccine AstraZeneca, as first or second boosters as part of any COVID-19 heterologous vaccination schedule.

WHO has also concluded that currently available data are not sufficient to support a preferential recommendation for bivalent variant-containing vaccine boosters over other currently available viral vector and mRNA vaccine boosters.

Data from an earlier analysis of the same data set, posted as a preprint in Research Square, show that a first booster with COVID-19 Vaccine AstraZeneca was also effective at preventing COVID-19 infections due to Omicron, offering comparable protection to mRNA vaccines.

Emeritus Professor Suwat Chariyalertsak, MD, Dr.PH, Faculty of Public Health, Chiang Mai University, Thailand, commenting on the data produced in collaboration with the Chiang Mai Provincial Health Office, said: “Our studies provide important data showing that COVID-19 Vaccine AstraZeneca and mRNA vaccines are both effective as first or second boosters in reducing the risk of Omicron-related severe COVID-19 or death when used as part of a heterologous schedule. Adopting a heterologous, or ‘mix and match’, vaccination schedule may help enhance ongoing efforts to increase population coverage of booster doses.”

John Perez, Senior Vice President, Head of Late Development, Vaccines & Immune Therapies, AstraZeneca, added: “These new data further support our expectation that additional boosters of COVID-19 Vaccine AstraZeneca can help protect against all severities of Omicron-related COVID-19 from mild symptomatic to severe disease including hospitalisation and death. COVID-19 Vaccine AstraZeneca will continue to play an important role in helping to protect against currently-circulating COVID-19 variants as part of a primary or booster vaccination schedule.”

To date, over 3 billion doses of COVID-19 Vaccine AstraZeneca have been released for supply to more than 180 countries around the world, of which over two thirds have gone to lower- or lower-middle income countries. Based on model outcomes, COVID-19 Vaccine AstraZeneca is estimated to have helped save over 6 million lives during its first year of use.

Megabangna Opens Magic Factory of Festive Fun and Gifts

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Megabangna Opens Magic Factory of Festive Fun and Gifts

Megabangna Opens Magic Factory of Festive Fun and Gifts

TUESDAY, DECEMBER 13, 2022

Megabangna kicks off the holiday season, bringing special gifts from the “MEGA HAPPINESS SEASON 2022: THE MAGIC FACTORY” today until January 5.

Megabangna Shopping Centre has opened the doors to its factory of joy for the grand celebration of Christmas and New Year with “MEGA HAPPINESS SEASON 2022: THE MAGIC FACTORY”, which runs from November 5 to January 5, bringing every customer the greatest happiness during the most festive time of year.

Campaigns and promotions have been planned for Megabangna fans to win incredible prizes throughout the month, with over THB 6.8 million in gifts and special prizes, as well as fun activities happening in almost every corner of the shopping mall.

Themed “THE MAGIC FACTORY,” this year’s decoration takes on the concept of a magical factory of happiness in the Atlantic where super-cute workers prepare infinite happiness and smiles for everyone.

Another special surprise is that CHANEL is joining the festivity with the amazing CHANEL HOLIDAY INSTALLATION.

Situated at the main entrance, the installation comes with the concept “GIVE WONDER, GIVE CHANEL,” making the moment of happiness even more complete. Last but not least, the “MEGA COUNTDOWN 2023” features the best lineup of Thailand’s leading musical acts, including POLYCAT, MEAN X SLAPKISS, THE TOYS, BOWKYLION, COCKTAIL, SLOT MACHINE, and GETSUNOVA, bidding farewell to 2022 and ushering in the new year with a spectacular display of music, sounds, and illumination.

Held on Saturday, December 31, 2022, the event will conclude the celebration of Megabangna’s 10th anniversary. 

Megabangna Opens Magic Factory of Festive Fun and Gifts

Palinee Kongchansiri, President of Megabangna Shopping Centre, recounts the inspiration behind this incredible event. “For the past ten years, we have been operating under the philosophy of ‘WE CREATE A BETTER EVERYDAY LIFE FOR THE MANY PEOPLE.’ Each of our activities is designed to best meet our customers’ requirements and expectations, providing them with the time of their lives so that every moment they spend at Megabangna counts as the best quality time imaginable”

MEGA HAPPINESS SEASON 2022 has a budget of THB 70 million to provide clients with a wide range of events from November 15, 2022, to January 5, 2023. The event will be divided into four distinct zones.

Megabangna’s intention with the special “Christmas Decoration” is to bring the greatest happiness to everyone with the wonderful styling of the shopping mall’s space for everyone to snap and share their moments of happiness.

Joining the ride are the lovely characters from ‘THE MAGIC FACTORY’ of the Atlantic in the land of snow-covered mountains and glaciers, from Santa Clause and friends who come bearing gifts, passing over the joy and happiness to everyone.

Megabangna Opens Magic Factory of Festive Fun and Gifts

Another highlight has to be Santa’s fluffy and sweet helpers, the penguins and polar bears, who have nothing but love and happiness to give. Then there are the reindeer, the darling messengers that deliver Santa’s gifts to good people all across the world, and the snowman, who represents happiness and creativity. During the Christmas season, everything is ready for your finest Instagram moments for everyone to share with their loved ones.

Megabangna Opens Magic Factory of Festive Fun and Gifts
Megabangna Opens Magic Factory of Festive Fun and Gifts
Megabangna Opens Magic Factory of Festive Fun and Gifts

ZONE 1: WELCOME GATE
Located near the entryway of the Mega Food walk, the zone is accompanied by the polar bear, who is waiting to greet visitors as they enter the MAGIC FACTORY.

ZONE 2: THE MAGIC FACTORY
The gift factory is situated in the midst of sparkling white snow, surrounded by little penguins and snowmen working their assigned tasks at the production, transportation, and quality control departments, ensuring that the best-quality gifts reach people all over the world. The security guards are an adorable army of gingerbread men, while everyone’s favourite person, 

Santa Clause, and his right-hand man, the polar bear, run the entire factory. Other attractions include the Polar Parade, Christmas Carols, and special shows performed by children from the Mega Smart Kids Institutes, who will delight consumers every weekend throughout December.

ZONE 3: MEGA SMILE REWARDS HAPPY STATION The activity and redemption zone is for Mega Smile Rewards members who purchase between 1 December 2022 – 3 January 2023. Bring your receipt to claim privileges and gifts every day throughout the month at the activity booth near Fashion Galleria Zone 


ZONE 4: CHANEL HOLIDAY
Megabangna partnered with one of the world’s biggest luxury brands to make this holiday season even more memorable. CHANEL joins the festivities with “GIVE WONDER, GIVE CHANEL,” a special installation inspired by a spaceship. Everyone is welcome to board the CHANEL spaceship to return to earth and celebrate the season of joy with their loved ones, along with exclusive gifts from CHANEL.

The next task is for all of the shoppers out there. “MEGA WISH” rings in the New Year with a bang. From now until January 3rd, 2023, Mega Smile Rewards members who shop a minimum purchase of THB 2,500 per receipt or redeem 3 Mega Smile Rewards points to get one chance to win THB 1.8 million-worth of prizes via the Megabangna application, including a Honda City Turbo RS CVT, the total of THB 100,000-worth of vouchers, Galaxy Flip 4 256 GB phones, products from brands such as GRAPHITE, Scooter Segway, the Apple Watch Series, and 31 other amazing gifts.

Megabangna Opens Magic Factory of Festive Fun and Gifts
Megabangna Opens Magic Factory of Festive Fun and Gifts

Another promotion that shoppers have been anticipating is the “ADVENT CALENDAR 2022.” From December 1st, 2022, to January 3rd, 2023, every Mega Smile Rewards member who dines or makes a minimum purchase of THB 3,000 per receipt will have a chance to play special games and win special gift cards and surprise gifts, including the big rewards from 80 shops that have joined this amazing campaign. Every day, 68 awards totalling THB 5 million are given away, ranging from cash cards to cosmetic sets, jewellery, diamond pendants, electrical appliances, musical instruments, IT products and gadgets, and fashion items. The total value of the rewards from the two campaigns comes to THB 6.8 million.

Don’t miss the legendary New Year’s Eve and Megabangna’s 10th-anniversary celebration, “MEGA COUNTDOWN 2023.” This iconic concert will cement Megabangna’s reputation as the landmark for the greatest countdown event in eastern Bangkok with an extraordinary lineup of Thailand’s hottest performers. Enjoy the final leg of Megabangna’s 10th-anniversary celebration with a stunning sound and illumination performance that will make the year’s final night more memorable than ever. See you on December 31st, 2022, from 16.00 onward.

Celebrate the season of happiness and welcome the year 2023 with us today through January 5th, 2023 at Megabangna Shopping Centre’s “MEGA HAPPINESS SEASON 2022: THE MAGIC FACTORY.”

BTS calls for debt repayment in a new way

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BTS calls for debt repayment in a new way

BTS calls for debt repayment in a new way

MONDAY, DECEMBER 12, 2022

BTS Group Holdings chairman Keeree Kanjanapas led executives and employees to worship at Thao Maha Phrom shrine near BTS headquarters on December 9 where they prayed for an unpaid debt owed to BTS to be repaid as soon as possible.

BTS has carried the weight of the debt for more than three years. We are waiting patiently. We have proceeded according to the law. First, we requested the debt be rapid. Next, we clarified the facts. Third, we filed a complaint to the Administrative Court. We are waiting with hope, but still have not had a response from a government that is evading its responsibility. Today, we have to rely on sacred statues. #debtmustberepaid

BTS calls for debt repayment in a new wayMore than three years weighed down by an unpaid debt. This is how BTS has been fighting so far. We called for debt repayment. We issued our first clarification about the debt. We waited… We filed a complaint with the Administrative Court. The court ruled [the government] had to repay the debt. We waited… The government evaded its responsibility. We issued our second clarification about the debt. We waited…with hope. But there was no response.

BTS calls for debt repayment in a new way

“I never thought that our company would be bullied by politicians.” No hope. We must pray to sacred statues. “We have done our best to ensure that people will not suffer, but the government was not concerned about us. We relied on many people involved in the debt, including the government. But the issue has not been settled. So we pray for Thao Maha Phrom’s kindness. Please settle many outstanding issues, especially the government’s debt, as soon as possible. We have done our best. May Thao Maha Phrom please have mercy.” Debt…must be repaid

Source: BTS