Airports of Thailand (AOT) has said it is revising its Environmental Impact Assessment (EIA) report for Phase 3 of the Don Mueang Airport expansion.
Meanwhile, the Natural Resources and Environment Ministry has asked AOT to review the report following a change in details of the project.
Kerati Kijmanawat, AOT’s senior executive vice president for engineering and construction, said the new EIA version should be approved by the National Environment Committee by April next year. It has also sent the project plan to the National Economic and Social Development Council for consideration.
If the NESDC approves the project, AOT should forward it to the Cabinet by June next year and call for bids after that. Bidding is expected to be completed within 2021 and construction should begin the following year and be completed in three years.
The Joint Foreign Chambers of Commerce in Thailand (JFCCT) on Wednesday offered recommendations on what can be done to attract investments, its chairman Stanley Kang said.
The recommendations were made at a meeting held with Deputy PM Supattanapong Punmeechaow to discuss how doing business can be made easier in Thailand.
One recommendation was reducing the 14-day mandatory quarantine for foreign businesspersons and technicians, so investors will be encouraged to come here.
They also said that the authorities should remove or revise certain regulations, especially those related to visa applications, that are unfavourable to foreign investment.
The Stock Exchange of Thailand (SET) Index closed at 1,482.09 on Wednesday, up 4.88 points or 0.33 per cent. The volume total transactions tipped Bt106.4 billion with an index high of 1,488.86 and a low of 1,475.09.
The 10 stocks with the highest trade value today were BANPU, CPALL, KBANK, BAM, PTTGC, IRPC, AOT, PTT, SCC and IVL.
As of 4.30pm, the price of oil dropped by US$0.10 or 0.21 per cent to $47.52 per barrel, while gold rose by $10.40 or 0.56 per cent, to $1,865.70 per ounce.
Other Asian indices were mixed:
Japan’s Nikkei Index closed at 26,757.40, up 69.56 points or 0.26 per cent.
China’s Shang Hai SE Composite Index closed at 3,366.98, down 0.25 points or 0.0074 per cent, while Shenzhen SE Component Index closed at 13,751.09, down 12.22 points or 0.089 per cent.
Hong Kong’s Hang Seng Index closed at 26,460.29, up 253.00 points or 0.97 per cent.
South Korea’s KOSPI Index closed at 2,771.79, up 14.97 points or 0.54 per cent.
Taiwan’s TAIEX Index closed at 14,304.46, up 235.94 points or 1.68 per cent.
Total Access Communication (Dtac) has announced that it will compensate consumers affected by the interruption of some services on Wednesday morning.
The services that experienced problems included the 1678 call centre, the Dtac application, one-time password (OTP) verification, online payment and top-up services.
All services had returned to normal at press time.
Kerry Express, Thailand’s leading parcel delivery brand, has announced an initial public offering of 300 million shares at Bt28 per share, the highest price for IPO offering in this range.
The shares are expected to start trading on the Stock Exchange of Thailand on December 24 under the ticker symbol “KEX”.
Kerry Express had received very strong investor interest with more than 23 times oversubscription from institutional investors and approximately 10 times oversubscription from cornerstone investors.
Proceeds from the offering will be used for the expansion of Kerry Express’s delivery network as well as to enhance its operational efficiency by developing IT systems, repaying debts and increasing working capital for business operations.
SCB Securities and Maybank Kim Eng Securities (Thailand) are the company’s joint lead underwriters and joint bookrunners.
The two financial companies said the outcome reflects investors’ confidence in Kerry Express as the market leader in express parcel delivery.
Citigroup and Credit Suisse led the international sales of the IPO as joint bookrunners.
By THE NATIONNation Broadcasting Corporation Plc (NBC), the operator of Nation TV Channel 22, organised “Nation TV Open House” on Tuesday to announce its business strategy for 2021 and its new broadcasting schedule as well as introduce eight new news anchors.
“Next year will be Nation Group’s 50th anniversary. Nation TV will embark on its 21 years in the business with steady steps, thanks to a strong financial record and business revenue,” said Shine Bunnag, chairman of the executive committee at Nation Multimedia Group Plc, NBC’s parent company,
“The DNA of Nation TV means it will continue to run with a professional and socially responsible team of journalists, serving as a watchdog for society and protecting the three institutes of the nation, religion and the monarchy, as we always have,” he added.
NBC chief executive officer Adisak Limparungpatanakij said that next year Nation TV would continue to produce news and content of international standards to preserve its status as a “professional media institute” at the regional level.
“We will continue to be open to criticism and opinions of news consumers, focusing on delivering quality news and knowledge via every digital platform to every corner of society,” he said.
Adisak also revealed that in 2021, programmes on Nation TV would consist of both news and variety shows in order to expand its viewer base to cover all ages.
“News and informative programmes will be the main content of Nation TV at a minimum 14 hours a day,” he said. “Fifty per cent of news will focus on politics and public policies, while 40 per cent will cover economy, business, technology and foreign affairs, and the rest will be entertainment, art and culture,” he explained.
“Next year, Nation TV’s broadcasting schedule will be based on the 4-4-6 formula, with the first four hours of the day (6-10am) focusing on news variety shows. The next four hours will cover news updates nationwide and economic news. The last, 6-hour period (5pm until 11pm) will be ‘golden hour news’ that comprise news summaries and analyses by experienced news professionals,” he added.
Nation TV also introduced eight new anchors: Phiphu Phumkaewkla (Ta), Orakarn Jiwakiat (Kwang), Orarin Yamokkul (Orn), Chawan Chansub (Games), Krongboon Srisapphakit (Gift), Lalita Mangsungnern (Prince), Charnchai Pratheepwatthanawong (Dao) and Chip Jitniyom.
Government Savings Bank (GSB) will offer various loan and savings packages to visitors at the year-ending Money Expo 2020, said president Vitai Ratanakorn.
The fair runs from this Thursday to Sunday (December 17-20) at the Bangkok International Trade & Exhibition Centre (Bitec).
A highlight is the “107 deposit” account, which boasts average annual interest of 3.52 per cent for a fixed deposit of 107 days on savings between Bt10,000 and Bt500,000. Seven-hundred accounts will be offered to savers aged 15 and above who have a GSB debit card and mobile app MyMo. Savers can also open the account at any GSB branch from December 17-27.
GSB will also offer mortgage loans at the expo. Borrowers who also take out life insurance will receive a fixed interest rate of 2.5 per cent for the first three years and MRR-1.5 per cent year from the fourth year (GSB’s current MRR is 6.245 per cent).
Meanwhile GSB SMEs Startup No 1 loans of up to Bt10 million will be available for businesses launched in the last three years. Borrowers who also sign up for life insurance and offer collateral worth over 50 per cent of the loan will be charged annual interest of 1.07 per cent in the first year and MOR/MRR + 1.50 per cent per year after that.
Also offered are “GSB D-VERs” short-term and long-term loans of Bt1 million-Bt100 million for companies to boost revolving funds or invest in assets.
Loans of Bt1 million to Bt20 million which are backed by full collateral and a life insurance subscription carry interest of 3.99 per cent in the first year, 4.99 per cent in the second year and MOR/MLR+0.75 per cent after that (GSB MOR rate is 5.995 per cent and MLR 6.15 per cent). If the collateral is 30 per cent of the loan, the rate is MOR/MLR+1.25 per cent.
Loans of Bt20 million-Bt100 million backed by a life insurance subscription and full collateral carry 4 per cent annual interest in the first two years and MOR/MLR+0.75 per cent for the following years. If the collateral is 30 per cent or over, the rate is MOR/MLR+1 per cent.
The Stock Exchange of Thailand (SET) Index rose by 7.13 points, or 0.48 per cent, to 1,484.34 in the morning session on Wednesday.
The top 10 stocks with the highest trade value in the morning session were CPAll, Banpu, PTTGC, KBank, BAM, PTT, SCC, AOT, IVL and IRPC.
The SET Index closed at 1,477.21 on Tuesday, up 1.08 points, or 0.07 per cent. The volume of total transactions was Bt91.74 billion, with an index high of 1,478.61 points and a low of 1,459.97.
The price of gold rose by Bt100 per baht weight in morning trade on Wednesday after surging by Bt200 per baht weight at close on Tuesday, the Gold Traders Association reported.
As of 9.29am, the buying price of a gold bar was Bt26,250 per baht weight and selling price Bt26,350 while gold ornaments cost Bt25,772 and Bt26,850, respectively.
At close on Tuesday, the buying price of a gold bar was Bt26,150 per baht weight and selling price Bt26,250 while gold ornaments cost Bt25,681.04 and Bt26,750, respectively.
The spot gold price moved to US$1,855 (Bt55,716) per ounce in the morning, while the Comex (Commodity Exchange) gold price to be delivered in February surged by $23.20 to $1,855.30 per ounce on Tuesday, thanks to hopes that the US Congress would approve a new economic stimulus package soon.
Besides, the market is keeping an eye on the US Federal Reserve’s monetary policy meeting to see whether the central bank will continue to ease its monetary policy or not.
The Hong Kong gold price meanwhile rose by HK$90 to $17,120 (Bt66,333) per tael, the Chinese Gold and Silver Exchange Society reported.
By Syndication Washington Post, Bloomberg · Anchalee Worrachate, Vildana Hajric
U.S. stocks halted a four-day losing streak as Congress moved toward a federal spending package that would boost the economy. Treasuries retreated.
The S&P 500 rebounded from its longest slide since September. Senate Majority Leader Mitch McConnell, R-Ky., said he will keep lawmakers in Washington until a deal gets done. The 10-year Treasury yield moved above 0.90% as the Federal Reserve began its two-day meeting. The dollar weakened for a second day. Oil advanced with gold.
Wall Street is growing increasingly confident that Democratic and Republican lawmakers will clinch a bill based on a $748 billion bipartisan proposal that would inject cash directly into the economy as prior benefits begin to expire at the end of the year. The vaccine rollout continues in the U.S. without any major disruptions so far.
“The markets really locked into the optimism trade and it’s been heavily discounting bad news and focusing on good news,” said Olivia Engel, chief investment officer of active quantitative equity at State Street Global Advisors. “I’m not surprised the market chose to focus more on the good news even as lockdown announcements are coming.”
Bristol-Myers Squibb climbed after Goldman Sachs Group added the drugmaker to its conviction buy list. In Europe, Volkswagen rallied 5% after the German carmaker’s board eased internal corporate tensions by backing CEO Herbert Diess. Trading was mixed in other markets. Asian stocks fell the most in two weeks.
While investors are pricing in optimism about the start of vaccine shots, there’s also ongoing concern over whether a stimulus bill from a bipartisan group of lawmakers will gain traction. The virus continued to rage in the U.S., threatening tighter restrictions across the nation. New York City Mayor Bill de Blasio, a Democrat, warned that people should be prepared for a full shutdown. European governments are also tightening measures.
“Stimulus remains a key focus for the market, as it is the necessary bridge to expansive vaccinations,” said Lindsey Bell, chief investment strategist for Ally Invest. “Market participants would like to see a deal sooner rather than later given the expectation for economic data to slow near term. In the absence of a deal, turbulence could pick up.”
In Europe, the pound rose and credit markets strengthened as Brexit negotiators pushed to reach a final trade deal. After a weekend of intense diplomatic activity, Michel Barnier, who leads the E.U. team, said he can see a path to a deal – if the two sides can resolve what he called their significant differences.
– – –
Here are some key events coming up:
– The Federal Reserve meets again Wednesday, with markets widely expecting fresh guidance on its continued asset purchases.
– Policy decisions from the Bank of England and central banks in Mexico, Switzerland and Indonesia are due Thursday. Japan and Russia announce decisions Friday.
These are the main moves in markets:
Stocks
– The S&P 500 Index climbed 1.3% as of 4 p.m. in New York.
– The Stoxx Europe 600 Index increased 0.3%.
– The MSCI Asia Pacific Index decreased 0.3%.
– The MSCI Emerging Market Index was little changed.
Currencies
– The Bloomberg Dollar Spot Index dipped 0.5%.
– The euro rose 0.1%, to $1.2159.
– The British pound climbed 0.9%, to $1.3443.
– The Japanese yen strengthened 0.4%, to 103.64 per dollar.
Bonds
– The yield on 10-year Treasuries climbed two basis points, to 0.91%.
– The yield on two-year Treasuries rose less than one basis point, to 0.12%.
– Germany’s 10-year yield fell three basis points, to -0.61%.
Commodities
– West Texas Intermediate crude increased 1.3%, to $47.28 a barrel
– Gold futures strengthened 1.4%, to $1,858.30 an ounce.
Deputy PM Supattanapong Punmeechaow 
