SET suspends More Return stocks over irregularities
MONDAY, NOVEMBER 14, 2022
The Stock Exchange of Thailand (SET) on Monday indefinitely suspended More Return Plc stocks after it noticed irregular trading practices.
The SET put an SP (suspension) mark on the MORE stock sign and suspended trading until investors are provided with comprehensive and accurate information from all sides concerned.
The SET said it noticed irregularities on November 10 when trading in MORE stocks rose to more than 7.14 billion baht – the highest in both SET and MAI (Market for Alternative Investment).
On November 10, MORE stocks opened at 2.90 baht, up 4.3% from its closing price the day before. After the high opening, the price of MORE stocks dropped to the floor.
The following day, MORE stocks continued to drop until they hit 1.34 baht.
Spotting this irregular pattern, SET warned investors to use caution before buying MORE stocks.
Over the weekend, SET said there were inaccurate reports about trading in MORE’s stocks, which could cause confusion and affect the investors’ decisions. Hence, SET said, it decided to suspend trading in the stocks.
According to its website, More Return sells pyrolusite water filters and invests in other businesses.
Teachers accused of child assault face lifetime ban in China
MONDAY, NOVEMBER 14, 2022
Educators who have allegedly committed crimes against children such as sexual assault, abuse, abduction and trafficking will be banned for life from China’s education sector, a new guideline shows.
The 10-article guideline issued last week aims to strengthen the protection of minors and eliminate wayward behaviour in schools.
Lauding the guideline, which goes into effect from Tuesday, Beijing lawyer Xu Hao said this will not only protect children but is also good for the education sector.
“Several offences regarding sexual assault occurred on campus in recent years and were found to be committed by educators,” he said. “In a case, for example, a primary school teacher was punished for sexually abusing several girls in his dormitory between 2013 and 2019.”
Prohibiting such people from coming in close contact with children has been highlighted over the past few years when the Criminal Law and the Minor Protection Law were revised, Xu said, adding that “there was still a problem – how long should the ban be and how will it work – that has often confused us in legal practice.
“[But now] I’m glad to see that the guideline provides the answer, that educators who violently or sexually abuse children will face a lifelong ban in the industry,” he said.
Under the guideline, courts are required to clarify the ban in verdicts and inform education authorities responsible for the management of the defendants within 30 days after the rulings become effective.
The move will help education departments and relevant institutes as they conduct background checks on prospective employees and provide a way for the public to remain engaged, the top court said.
Education agencies are required to confiscate the teaching certificates of offenders promptly, while prosecutors should play a supervisory role in determining whether the bans are effective, according to the guideline.
Courts are also allowed to prevent people in the education industry who commit other types of crimes from working closely with children for three to five years, depending on the severity of the crimes.
“The clear workflow among prosecutors, judges and education administrators in the legal document, I believe, will greatly reduce the possibility of those with a child-related criminal record from getting into the education sector,” Xu said.
Cambodia cooled ‘hot Asean stone’ before handing it to Indonesia: Hun Sen
MONDAY, NOVEMBER 14, 2022
Prime Minister Hun Sen wrapped up the 40th and 41st Asean summits on Sunday saying Cambodia had been tossed a hot stone and managed to cool it down before handing it to Indonesia as the new Asean chair.
Speaking at a press conference after four days of talks, Hun Sen said that Cambodia proved mature enough to handle negotiations on heated issues such as Russia-Ukraine, Myanmar and the South China Sea dispute.
“There were no unpleasant exchanges or unkind words despite the controversial topics discussed. No one walked out of any meetings. This reflects the maturity of the leaders at the EAS, but also was due to Cambodia’s role of facilitator enabling all sides to have their say,” Hun Sen said referring to the East Asia Summit where leaders of the US, China and Russia were all gathered in one place.
“We’ve gained prestige from this. We managed to sign a hundred documents that the next generation will one day be able to learn from,” he said.
Hun Sen said leaders at the summits appreciated the efforts of Cambodia’s Asean Special Envoy on Myanmar in seeking solutions to the Myanmar crisis through the implementation of Asean’s five-point peace plan.
Asean leaders themselves admitted, however, there had been “little progress” in implementing the peace plan since it was signed with Myanmar junta leader Min Aung Hlaing in April last year.
On the South China Sea dispute that caused controversy at the last Asean Summit in Phnom Penh in 2012, Hun Sen said that the meeting had noted the importance of the promotion of peace, security, safety, stability and freedom of navigation and flight over the sea, which required a thorough and full implementation of the Declaration on the Conduct of Parties in the South China Sea (DOC).
“We are optimistic and happy with the progress on the ongoing negotiations on the Code of Conduct for the South China Sea (COC), which recently resumed in Siem Reap and Phnom Penh,” he said, adding that the COC must follow international law and the UN Convention on the Law of the Sea, adopted in 1982.
“On Ukraine, I can say that it was the hottest stone as we have seen some very diverging views, especially during the East Asia Summit. I am happy that Cambodia could manage to host this summit in which many sides had different positions and exchanged their opinions in a frank manner.
“We reiterated our calls for respect for sovereignty, independence and territorial integrity. We stressed the importance of a cessation of hostilities in order to produce a conducive environment for peaceful solutions. We also called for support in the form of immediate humanitarian assistance – safely and without interruption – to the people of Ukraine,” he said.
Hun Sen also said that the foreign ministers of Ukraine and Russia had declined his invitation for talks in Phnom Penh.
Regarding Korean tensions, Hun Sen said that Asean leaders and partners all expressed concerns about North Korea’s ballistic missile tests over Japan, regarding such actions as a threat to regional security and calling on Pyongyang to respect decisions of the UN Security Council and refrain from testing nuclear weapons.
Asked which side Asean would favour in the new Cold War-style rivalry between the US and China, Hun Sen insisted the bloc would retain its unity and centrality and not lean to either side.
Cambodia also announced it would send its first batch of deminers to Ukraine in December in a joint effort with Japan. Hun Sen said the project should be viewed as humanitarian rather than military assistance.
On Myanmar, Hun Sen said that Asean wants all parties to the conflict to work together on a solution. He dismissed suggestions of “hot” measures (military intervention) and said Myanmar could not be expelled from the bloc as this would violate Asean’s charter on unanimity for such decisions.
“The best way is keeping the door open rather than slamming it shut,” he said, adding that he had not yet decided whether the Asean chair’s Special Envoy Prak Sokhonn would visit Naypyidaw again before Cambodia’s Asean chairmanship mandate ends.
He explained that Asean had invited non-political representatives from Myanmar to attend the summit, but the junta had declined.
Myanmar’s Asean seat would remain empty if the junta continued to show no progress in implementing Asean’s five-point consensus and failed to send non-political representatives, hun Sen said.
US President Joe Biden also urged Cambodia to be transparent over the development of Ream Naval Base, and to release American citizen Seng Theary, a lawyer serving six years in Preah Vihear prison for her activism with the Supreme Court-dissolved Cambodia National Rescue Party, a White House press statement said.
Asked for his reaction, Hun Sen denied that Biden had raised those issues with him but reported that the US president said he had enjoyed the Khmer food served during his visit.
Asean agrees on timeline for much-criticised Myanmar peace plan
MONDAY, NOVEMBER 14, 2022
The Asean Summit ended in Phnom Penh on Sunday with regional leaders warning Myanmar’s junta to follow the five-point peace plan or risk being banned from future Asean meetings.
The junta was already banned from attending meetings of Asean, which is facing increasing criticism for a peace plan that has failed to stop violence and civilian killings by junta forces.
The crisis in Myanmar dominated three days of talks between leaders of the Association of Southeast Asian Nations as well as Japan, the United States, China and the United Nations.
Asean delegates confirmed their commitment to the Five-Point Consensus for peace agreed with junta chief Min Aung Hlaing in April last year but said they wanted to see a timeline for its implementation. The peace plan, which calls for an end to violence, has gone largely ignored by Myanmar’s junta as it wages a brutal military campaign to quell nationwide resistance against its rule.
Admitting that “little progress” has been made in implementing the peace plan, Asean leaders urged Myanmar’s military regime to comply with its commitments.
They also decided to forge a timeline “that outlines concrete, practical and measurable indicators” to support the peace plan.
Indonesia’s Foreign Minister Retno Marsudi said Asean’s statement was a clear message of warning to Myanmar’s junta.
The junta has yet to issue a response. It has cited the Covid-19 pandemic and its ongoing battle with armed resistance forces as reasons for the delay in implementing the peace plan.
The summit also discussed tensions on the Korean peninsula and in the Taiwan strait, with non-Asean leaders including South Korea’s President Yoon Suk-yeol and Chinese Premier Li Keqiang joining the talks.
US President Joe Biden, who joined the summit ahead of his highly anticipated meeting with Chinese President Xi Jinping in Bali this week, said the US remains an important partner of Asean.
Biden said Asean countries are the heart of the US Indo-Pacific administration strategy, and vowed to increase strategic partnerships and cooperation to tackle challenges of climate change, food stability, and security, and to build a free, open, flexible and stable Indo-Pacific region.
Cambodian Prime Minister Hun Sen ended the summit by handing over the hammer symbolising Asean chairmanship to President Joko Widodo of Indonesia, which will host the regional bloc next year. Widodo announced the theme of Asean 2023 will be “Asean Matters: The Epicentrum of Growth”.
Koh Chang sees increased footfall as hotels, resorts woo tourists with discounts
MONDAY, NOVEMBER 14, 2022
Many Thai and foreign travellers flocked to Koh Chang in Trat province to avail of the discounts on rooms and foods offered by many hotel and resort operators to attract tourists during the high season.
Trat Tourism Association president Wichit Sukrasuyanon said on Sunday that the number of Thai and foreign visitors in Koh Chang has increased, especially during weekends when Thai tourists visited the island with their families or tour groups.
He said most tourists booked rooms near beaches, especially Aiyapura Resort and Spa, which is near Sai Khao beach, Coconut Beach Resort, near Chai Chet beach, and Chivapuri Resort, near Klong Kloi beach.
“Beaches in Koh Chang Island are crowded with tourists,” he said.
Apart from diving, kayaking and eating fresh seafood, tourists enjoyed fire performance show after sunset, said Coconut Beach Resort director Weerachat Khammeesri.
“Apart from promoting tourism, this show also helps generate income for performers,” he said.
He added that the resort is offering up to 50% discounts on rooms and foods to attract tourists during high season.
Japan and Singapore ‘top tourism destinations for Thai people’
MONDAY, NOVEMBER 14, 2022
Japan and Singapore are the most popular destinations for Thai tourists, Thai Airways International (THAI) revealed.
THAI’s chief of commercials, Korakot Chatasingha, said recently that the advance reservations for the New Year holidays has increased continuously by around 65% on average.
The most popular routes are to Japan with a cabin factor of around 70%.
Currently, the airline operates five routes to Japan:
The airline is also planning to start a Bangkok – Sapporo route in December in response to tourists’ demand.
Korakot said, “Currently, Japanese routes are well-received by passengers, especially Thai people. After the Japanese government eased Covid prevention measures and allowed more tourists to enter the country, more passengers are interested in these routes, especially flights in winter, which are popular with Thai people.”
He explained that the Japanese government had set a limit for the number of people entering the country from August to September. In the first phase, only 190 seats per day were available and later increased to 600 seats per day.
After the limits were removed, tourism has been active again and the airline is confident that the cabin factor will increase gradually, as it is planning to increase the number of flights to Japan.
He said Singapore is another popular destination because it is a short flight and the country organises events and creates new tourist destinations to welcome them.
The cabin factor for the Singapore route is around 80%, increasing gradually. The airline has increased the number of flights from two flights per day to three, and will increase to four flights in December.
Rice price subsidy slashed by THB80bn as market price rises
MONDAY, NOVEMBER 14, 2022
The government will slash the budget for next year’s rice price scheme from 150 billion baht to 66 billion baht in line with rising market prices, according to a source with knowledge of the matter.
BangkokBiz reported on Monday that Prime Minister Prayut Chan-o-cha met with Commerce Minister Jurin Laksanawisit to seek solutions for the fourth year of the price-guarantee scheme, which will go before the Cabinet for approval tomorrow.
The source said the Finance and Commerce ministries have agreed to reduce the budget by around 80 billion baht.
The source said the budget cut would not affect the amount of money received by farmers as the market price of rice has risen.
The budget will be adjusted if the rice price rises significantly and even less subsidy is needed.
The source said the rice price guarantee budget will be reduced from 86.740 billion baht to 18 billion baht in line with the current price of rice.
Moreover, the budget for cost reduction and rice management for farmers at 1,000 baht per rai will be reduced from 55.364 billion baht to 40 billion baht.
The missing 15 billion baht will come from the Rice Department.
The budget changes will be proposed to the Cabinet for approval on Tuesday, the source said.
Obey the law, Chadchart tells anti-government groups planning protests during Apec Summit
MONDAY, NOVEMBER 14, 2022
Bangkok Governor Chadchart Sittipunt on Monday asked political protesters at the Lan Khon Muang grounds to obey the law and refrain from marching to other venues to avoid disrupting the Apec Summit.
Two anti-government groups, “Thalufah” and “Ratsadon”, have received the green light from the city to organise a rally at the open space opposite the City Hall in Bangkok’s Phra Nakhon district from Wednesday to Friday (November 16-18).
The governor said he has instructed the Metropolitan Police Bureau to deploy officials around Lan Khon Muang during the three days to monitor the situation and prevent any negative impact on the Asia-Pacific Economic Cooperation (Apec) Summit that Thailand is hosting from November 16-19 at Queen Sirikit National Convention Centre.
“The city allows people to express their different political opinions in public forums provided they obey the laws,” said Chadchart. “It’s better to give them a space here rather than risk having political rallies in venues that could affect the Apec Summit.”
The governor added that he has told all district offices to clean and unblock the drains in areas they are responsible for to prepare for heavy rains that could result in flash floods. There are forecasts that about 60 per cent of the metropolitan areas will experience downpours this week.
“The rainfall this week should be at a manageable level and is therefore not worrying,” said Chadchart. “The rains might actually help reduce dust particles and improve Bangkok’s air quality.”
The governor asked people to follow the latest updates on traffic closures around the Apec Summit venues — Ratchadaphisek, Duang Phitak, Ploenchit, Wireless and Ratchadamri roads. Avoid using the routes if possible, and prepare some extra time if you have to use detours, he suggested.
“Anyone who can work from home this week, please do so,” he said.
Prawit said that the centre has been opened to continuously monitor the situation and for the preparation of operational plans, while related organisations could report progress to the centre on tasks assigned to them.
The meeting also discussed traffic, motorcades, medical and public health, terrorist prevention, and cybersecurity.
Prawit asked all organisations to follow the plan and to work together as assigned by the centre so that the meetings will run smoothly with maximum efficiency and security.
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