Finance Ministry to spend THB10bn on recapitalising Thai Airways

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https://www.nationthailand.com/business/corporate/40021503

Finance Ministry to spend THB10bn on recapitalising Thai Airways

Finance Ministry to spend THB10bn on recapitalising Thai Airways

FRIDAY, OCTOBER 28, 2022

The Finance Ministry will sell stocks in other state enterprises to ensure its majority stake in Thai Airways International (THAI) does not fall below 40 per cent when THAI is recapitalised, the State Enterprise Policy Office (SEPO) said on Friday.

The debt-to-equity recapitalisation comes under the THAI’s revised rehabilitation plan, which was approved by the Central Bankruptcy Court last week.

Under the rehab plan, the Finance Ministry must maintain at least 40 per cent of THAI’s shares. It currently owns a 47-per-cent shareholding in the ailing national carrier.

SEPO is now considering which stocks will be sold to fund the recapitalisation, said its director-general Pantip Sripimol. She expects at least 10 billion baht will be needed to increase the government’s shareholding in THAI.

She added that THAI’s financial performance is improving now that it has resumed flights after pandemic restrictions were lifted.

Since filing for bankruptcy protection, the airline has halved its workforce from over 29,000 to 14,000 and reduced its fleet to 58 aircraft. It forecasts better-than-expected performance with cabin loads at 80 per cent or higher this year.

Pantip predicted THAI would be relisted on the Stock Exchange of Thailand in the latter part of 2024.

Kasikorn Bank (KBank) also expects THAI’s performance to improve as operating costs fall and tourism recovers. KBank forecasts the carrier’s earnings will rise to 40 billion baht in the fourth quarter of this year from 21 billion baht in the second quarter.

However, it predicts performance losses until 2024 due to rising fuel costs.

“It depends on how THAI deals with fuel and flight ticket prices to gain profit,” a KBank analyst said.

The airline filed for bankruptcy protection in late 2019 after reporting massive debts of 245 billion baht. The rehab plan was given the green light by Cabinet in May 2020 before being approved by the Central Bankruptcy Court. The rehab plan was then revised following a better-than-expected performance by the airline.

US Vice President Harris to face off with Putin at Apec Summit

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https://www.nationthailand.com/world/asia-pacific/40021522

US Vice President Harris to face off with Putin at Apec Summit

US Vice President Harris to face off with Putin at Apec Summit

SATURDAY, OCTOBER 29, 2022

US Vice President Kamala Harris will be attending the Apec Summit in Bangkok next month in place of President Joe Biden, the White House announced on Friday (Saturday Thailand time).

Harris will represent the United States at the Asia-Pacific Economic Cooperation Leaders Meeting to be held on November 18-19 at the Queen Sirikit National Convention Centre. The summit will be attended by leaders of 21 Asia-Pacific economies. Thailand is this year’s host of Apec.
“The vice president’s participation will underscore the US commitment to economic cooperation in the Indo-Pacific region and she will outline US goals for our Apec host year in 2023,” White House press secretary Karine Jean-Pierre told a media briefing.
Next year, the US will host the Apec Summit and related meetings for the first time since 2011.
During her visit to Thailand, Harris “will engage with Thai leaders and civil society representatives to reaffirm and strengthen the US-Thai alliance and to discuss our cooperation across a range of issues”, said the spokesperson.

The Bangkok summit is being held amid a global fuel crisis and international sanctions triggered by Russia’s war in Ukraine. Russian President Vladimir Putin announced earlier this month that he had accepted Thailand’s invitation to attend the Apec summit.
May’s Apec meeting in Bangkok ended without the traditional joint communique after a walkout protest by the US and four other countries over Russia’s invasion of Ukraine. The US and its allies have imposed wide-ranging sanctions on Moscow over its invasion.
The US vice president will be accompanied to Thailand by her husband Douglas Emhoff, who will participate in the Apec spousal programme, according to the spokesperson.
As the first-ever husband of a US vice president, Emhoff is the first person in American history to hold the title of “second gentleman”.
Meanwhile, President Biden will have a busy schedule next month although he is not travelling to Thailand. His visits to Egypt, Cambodia, and Indonesia have been scheduled.
On November 11, Biden will attend the 27th Conference of the Parties to the UN Framework Convention on Climate Change (COP27) in Egypt, according to the White House press secretary.
 

He will then be in Phnom Penh from November 12-13 to participate in the annual US-Asean Summit and the East Asia Summit.
“In Cambodia, he will reaffirm the US’s enduring commitment to Southeast Asia and Asean centrality, building on the success of the historic US-Asean Special Summit in Washington DC. He will underscore the importance of US-Asean cooperation in ensuring security and prosperity in the region, and the well-being of our combined one billion people,” the spokesperson said.
Later, the US president will attend the Group of Twenty (G20) Leaders’ Summit in Bali, Indonesia, from November 13-16.

Australian foreign minister in Thailand next week to boost bilateral ties

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https://www.nationthailand.com/world/asia-pacific/40021518

Australian foreign minister in Thailand next week to boost bilateral ties

Australian foreign minister in Thailand next week to boost bilateral ties

SATURDAY, OCTOBER 29, 2022

Australian Foreign Minister Penny Wong will be in Thailand on a two-day visit next week to sign pacts and enhance bilateral strategic ties.

She is scheduled to meet Foreign Minister Don Pramudwinai on Tuesday to sign the Joint Plan of Action to Implement the Thailand-Australia Strategic Partnership 2022-2025. Don will also host an official dinner for Wong and her team on Tuesday evening.

The “joint plan of action” was developed from a joint declaration of the strategic partnership signed in November 2020, which covers:

  • Political cooperation: Military, new forms of security and suppression of transnational crimes, including narcotics and human trafficking.
  • Economic cooperation: The bio-circular-green economic model and digital economy.
  • Sectoral cooperation: Public health, agriculture, education, science, technology and research, energy, environment and disaster management.

The Foreign Ministry said the Thailand-Australia cooperation will progress in line with Asean, Mekong Sub-Region and related multilateral frameworks to promote collective economic recovery as well as sustainable and inclusive growth.

On Wednesday, Wong is scheduled to pay a courtesy call to Prime Minister Prayut Chan-o-cha and Deputy PM Prawit Wongsuwan at Government House.

Also on her agenda is a meeting with Justice Minister Somsak Thepsuthin during which the two parties will sign a memorandum of understanding on further strengthening cooperation in fighting the trafficking of persons.

Wong will wrap up her visit with a short discussion at the Foreign Correspondents’ Club of Thailand (FCCT) about Thailand and Australia’s ties and respective roles in the region.
    
This is Wong’s first visit to Thailand since assuming office in May.

Foreign Affairs Permanent Secretary meets U.S. Ambassador to discuss APEC Summit preparations

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https://www.nationthailand.com/world/us-canada/40021510

Foreign Affairs Permanent Secretary meets U.S. Ambassador to discuss APEC Summit preparations

Foreign Affairs Permanent Secretary meets U.S. Ambassador to discuss APEC Summit preparations

SATURDAY, OCTOBER 29, 2022

On October 28, 2022, Thani Thongphakdi, Permanent Secretary for Foreign Affairs met with Robert F. Godec, Ambassador of the United States to Thailand. 

In attendance were also the Chief of the APEC 2022 Task Force, the Deputy Director-General of the Department of International Economic Affairs and the Deputy Director-General of the Department of American and South Pacific Affairs. 

Foreign Affairs Permanent Secretary meets U.S. Ambassador to discuss APEC Summit preparations

Both sides had a productive discussion on the preparation for the upcoming APEC Economic Leaders’ Week in November to ensure its smooth running and successful delivery of tangible outcomes, to drive inclusive and sustainable growth for Thailand and APEC. They also stressed the need to ensure continuity of priorities as Thailand hands over the responsibilities to the US as the APEC host next year. 

Foreign Affairs Permanent Secretary meets U.S. Ambassador to discuss APEC Summit preparations

On this occasion, both sides reaffirmed a shared commitment to further enhance Thailand – U.S. alliance and strategic partnership as well as promote closer cooperation in multi-faceted areas, both at the bilateral and regional levels.

House Speaker Pelosi’s husband in hospital after assault, motive unclear

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https://www.nationthailand.com/world/us-canada/40021507

House Speaker Pelosi's husband in hospital after assault, motive unclear

House Speaker Pelosi’s husband in hospital after assault, motive unclear

FRIDAY, OCTOBER 28, 2022

Paul Pelosi, the husband of House Speaker Nancy Pelosi, was “violently assaulted” after a break-in at the couple’s California home early on Friday, her office said in a statement.

“The assailant is in custody and the motivation for the attack is under investigation,” the statement said. “Mr. Pelosi was taken to the hospital, where he is receiving excellent medical care and is expected to make a full recovery.”

The Democratic speaker of the U.S. House of Representatives, who is second in line to the presidency, was not at home at the time of the early morning assault.

A San Francisco Police Department spokesperson and a spokesperson for Nancy Pelosi were not immediately available for comment.

The circumstances of the attack were unclear, including how the intruder got into the home.

The assault comes less than two weeks before midterm elections in which control of the House and the Senate is at stake.

House Speaker Pelosi's husband in hospital after assault, motive unclear
House Speaker Pelosi's husband in hospital after assault, motive unclear

Paul Pelosi, 82, who owns a San Francisco-based real estate and venture capital firm, was convicted of a misdemeanour charge of driving under the influence of alcohol after becoming involved in an auto accident in May. He was sentenced to five days in jail in Napa County, California.

Reuters

Hun Sen to offer support in phone meeting with Ukraine president

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https://www.nationthailand.com/world/asean/40021506

Hun Sen to offer support in phone meeting with Ukraine president

Hun Sen to offer support in phone meeting with Ukraine president

FRIDAY, OCTOBER 28, 2022

Cambodian Prime Minister Hun Sen said he will speak with Ukrainian President Volodymyr Zelenskiy in the next few days if the circumstances do not change.

He mentioned the upcoming phone conference in an October 27 social-media post after distributing rice seeds among farmers in four flood-afflicted provinces.

In his post, Hun Sen said Cambodia is set to host the Asean Summit from November 10-13 before the G20 heads of state meet in Indonesia and Apec leaders converge in Thailand.

“If there are no changes, I will use diplomatic coordination to meet with Ukraine President Volodymyr Zelenskyy on the phone in the next few days,” Hun Sen said.

The Foreign Affairs and International Cooperation Ministry could not be reached for comment.

Earlier this month, Hun Sen announced that Cambodia would not support the Russian referendum to annex Ukrainian regions.

“We do not support – and in fact oppose – the creation of a new state by taking land from a sovereign nation via the use or threat of force,” he said.

In March, Cambodia voted for a UN General Assembly (UNGA) resolution demanding an abrupt stop to Russia’s “military operations” in Ukraine.

Royal Academy of Cambodia secretary-general Yang Peou said the meeting between the two leaders is important as Cambodia has announced its opposition to the Russian aggression against Ukraine.

The Kingdom has adopted a policy of permanent neutrality, he said, adding that seeking a solution to peace is necessary and it is important that Cambodia become part of it.

“Cambodia is hosting the Asean Summit and related meetings [in November], and Ukrainian President Zelenskyy may attend [virtually].

“As head of the Cambodian government and chair of Asean, Prime Minister Hun Sen will join some of the largest meetings of regional and global organisations aside from hosting the Asean Summit. They include Asean Plus as well as the Apec and G20 summits,” Peou said.

“Cambodia has a voice that represents many other groups, and will use that voice in numerous meetings.”

Peou added that Cambodia should use its diplomatic powers to address global politics.

Advance discussions such as the upcoming phone call with the embattled Ukrainian leader are important, he said, adding that while the call may not achieve an immediate end to the war, it will make a significant contribution to the diplomatic relationship between Cambodia and Ukraine.

The Phnom Penh Post

Asia News Network

LTR, 40m baht investment necessary for foreigners to buy land in Thailand: govt

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https://www.nationthailand.com/thailand/policies/40021513

LTR, 40m baht investment necessary for foreigners to buy land in Thailand: govt

LTR, 40m baht investment necessary for foreigners to buy land in Thailand: govt

SATURDAY, OCTOBER 29, 2022

Only foreigners qualifying for Long-Term Resident (LTR) visa will be allowed to buy up to 1 rai of land, the government announced on Friday to clarify the confusion.

On Tuesday, the Cabinet approved the proposal to let foreigners purchase houses and up to a rai of land provided, they can show an investment of at least 40 million baht in Thailand. They are also required to maintain the investment for a minimum of three years starting from the day they submit an application for the purchase.

The directive will be in effect for five years once it has been published in the Royal Gazette, which will be soon, the government said.

Government spokesman Anucha Burapachaisri said on Friday that once the news came out, many misunderstood the measure and accused the government of “selling off the country”.

Anucha said this measure was not new and had been implemented after the 1997 financial crisis in a bid to attract wealthy foreigners to invest in Thailand.

“The government revived this measure again as we are facing a similar situation due to the impact of the Covid-19 pandemic,” he said. “This time, conditions have been adjusted to only cover those who are qualified for the LTR visa.”

Since last month, Thailand has halved the application fee for the 10-year LTR visa from 100,000 baht to 50,000 baht to lure four groups of foreigners – the wealthy, retirees, those who want to work in Thailand and experts with special skills.

Apart from investing 40 million baht in specific businesses and meeting other requirements, eligible foreigners can only purchase land and/or houses in Bangkok, Pattaya and other municipal areas or zones marked out as residential areas in provinces.

The draft also specifies that foreigners can only buy a rai of land once, and the limit will apply even if the foreigner sells parts or all of the land.

“If the buyers fail to comply with any criteria, the Department of Land’s director-general can issue an order revoking their rights,” Anucha said.

Thailand legalises importation of cannabis and hemp seeds

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https://www.nationthailand.com/thailand/general/40021520

Thailand legalises importation of cannabis and hemp seeds

Thailand legalises importation of cannabis and hemp seeds

SATURDAY, OCTOBER 29, 2022

It is now legal to import cannabis and hemp seeds to Thailand, following a Department of Agriculture announcement published in the Royal Gazette website on Saturday.

The announcement stipulated that seeds of both plants can be imported from any country provided they meet the following criteria:

– The seeds must not be genetically modified.

– They must contain no organic or inorganic contaminants, including soil, sand, insects, etc.

– Importers must present lab evidence that they have been treated for or protected against pests, namely Pseudomonas syringae py cannabina, Xanthomonas campestris pv cannabis, Ditylenchus dipsaci, Arabis mosaic virus, Alfalfa mosaic virus, Orobanche ramosa, Cuscuta spp and Striga spp.

– Importers must present a phytosanitary certificate for export or re-export issued by the National Plant Protection Organisation (NPPO) in the country of origin.

– The seeds must pass Department of Agriculture screening customs.

Thailand legalised marijuana and hemp on June 9, allowing the former narcotics to be grown freely, but recreational use of the plants remains prohibited. Selling to persons under 20 years old, pregnant and nursing women is also banned.

All extraction, processing, sales, import and export of marijuana must be approved by authorities. Furthermore, tetrahydrocannabinol (THC) in marijuana or hemp products for sale must be lower than 0.2 per cent.

Cooler days ahead in upper Thailand as cold winds blow in from China

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https://www.nationthailand.com/thailand/general/40021519

Cooler days ahead in upper Thailand as cold winds blow in from China

Cooler days ahead in upper Thailand as cold winds blow in from China

SATURDAY, OCTOBER 29, 2022

The upper parts of Thailand will experience a cold snap with temperatures falling by up to 4 degrees Celsius until next Friday.

The Thai Meteorological Department’s 7-day weather forecast said that from Saturday to Tuesday, a moderate high-pressure system from China will bring light rainfall, strong winds and cooler temperatures in upper Thailand. The Northeast will be hit by the cold snap first before it spreads to the rest of the upper parts of the country.

From Tuesday to Friday, another high-pressure system will cover the upper regions of Thailand and the Northeast monsoon will also become stronger, bringing the temperature down by another 2 to 4 degrees.

The mercury is expected to drop to 15ᵒC in the North and Northeast, 19ᵒC in the Central region and 20ᵒC in the East.

The department added that over the next week, the South will experience continued and isolated heavy rain due to a monsoon trough, which will also create up to 2-metre high waves during thundershowers.

Cooler days ahead in upper Thailand as cold winds blow in from China

The department has issued a warning of flash floods and runoffs in the South, especially along waterways near foothills and lowlands. Ships have been advised to proceed with caution and keep off thundershowers.

Bangkok hospitals launch free Covid vaccination drive

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Bangkok hospitals launch free Covid vaccination drive

Bangkok hospitals launch free Covid vaccination drive

SATURDAY, OCTOBER 29, 2022

Bangkok hospitals will offer free Covid-19 vaccination in November to raise the level of protection against the virus in the capital.

Covid-19 was downgraded to a “communicable disease under surveillance” on October 1 but vaccination is still considered an important defence against illness and death, especially for those in risk groups.

The Bangkok Metropolitan Administration (BMA) is providing free red-cap Pfizer vaccine for children aged six months to four years at all BMA hospitals. Three doses will be administered at intervals of four and then eight weeks.

Elsewhere, the Queen Saovabha Memorial Institute in Bangkok is providing free Pfizer vaccination with second, third, fourth, and fifth doses for adults aged over 18 who register at https://qsmi-booster.kcmh.or.th/. Vaccination is available at the institute Monday to Friday (October 31-November 4).

The Chakri Naruebodindra Medical Institute in Samut Prakan is also offering 30 free Covid-19 jabs per day for children under five on six days in November. The jabs will be administered from 9am to 1.30pm on November 2, 4, 9, 11, 23, 25 and 30.

To be eligible, children must be no younger than six months and no older than 4 years, 11 months and 29 days. To register, visit https://bit.ly/3gNB5AN.

Parents will need to bring their own ID card and their child’s birth certificate and vaccine certificate.

Public Health Minister Anutin Charnvirakul said the government aims to administer at least 2 million Covid-19 shots by the end of this year. Anutin wants to get 70 per cent of the 608 group – people aged 60-plus, those with seven underlying conditions, and women 12 weeks pregnant or more – vaccinated.

Separately, the Public Health Ministry announced that Thailand has donated 100,000 doses of Pfizer’s mRNA vaccine for children in Myanmar.