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The Stock Exchange of Thailand (SET) and Krungthai Bank pcl (KTB) will launch its first ever fractional depositary receipts (DRx) to make high-flying global stocks more affordable on the Thai bourse.

The first two DRx based on Apple and Tesla as underlying stocks, issued by Krungthai Bank pcl (KTB), will start trading on September 29.

Invest in the world’s leading stocks with a small amount of money

SET President Pakorn Peetathawatchai said that new product development is an integral part of SET’s strategic plan to cater to the needs of investors. The latest initiative is the launch of DRx, designed to suit with the investment behavior of new generations who want to invest in the world’s leading stocks with a small amount of money.

What is a DRx ?

DRx is a type of DR, which enables Investors to get benefits similar to direct investment in foreign shares. Investors are able to buy or sell a fraction of DR unit (starting from 0.0001 unit) during trading hours of the underlying securities domiciled in international market. Trading hours for APL80X and TSLA80X which are based on Nasdaq-listed Apple Inc. and Tesla Inc. stocks, respectively, will then start from 20.00 hrs. to 04.00 hrs. of the following day.

Payong Srivanich, Krungthai Bank’s CEO, stated that as a leading commercial bank in Thailand, Krungthai Bank is determined to continue developing financial products and services to respond to all investment and savings needs of the customers. The two DRx representing the stocks of Apple Inc. and Tesla, Inc., which are listed in the U.S.’s NASDAQ stock market, are fundamentally strong and have high growth potential. Besides, Thai investors are familiar with them.

The two DRx, namely AAPL80X (Apple DRx) and TSLA80X (Tesla DRx), will become available to investors through the Stock Exchange of Thailand at the same time.

Krungthai Bank prioritizes corporate responsibility and takes into consideration all groups of stakeholders. This fortifies Krungthai’s position as a market leader in ESG financial solutions who is ready to address the Sustainable Development Goals (SDGs) by improving the quality of life of all customers through the development of digital infrastructure and using innovation as the driving force to propel the country’s economy toward sustainability.

It also aims to address customers’ savings and investment needs by removing constraints and allowing Thai investors, especially retail investors, to easily and conveniently invest in foreign shares through the Stock Exchange of Thailand.

Apple Inc. is a world leader in technology that constantly innovates and launches pioneering products to the market, including Mac, iPhone, Apple Watch and iPad. It has a loyal customer base thanks to its ability to create an ecosystem that makes Apple’s devices even more easy to use, which is exactly what the younger generation wants. As a result, Apple’s customer base continues to grow and existing customers are retained. Tesla is a leader in the automotive industry and the world’s biggest electric vehicle (EV) manufacturer.

The company has been investing heavily in the past few years to boost efficiency and capacity to meet rising market demands. Tesla recorded a profit margin of 25.3% in 2021 and 27.2% in the first half of 2022 and it aims to accelerate the transition to a sustainable future.





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Thailand’s Centre of COVID-19 Situation Administration (CCSA) announced the ending of the nationwide COVID-19 Emergency Decree on 30 September, 2022, as the kingdom reclassifies COVID-19 from ‘a dangerous communicable disease’ to ‘a communicable disease under surveillance’ from 1 October, 2022.

The CCSA also stated that from 1 October, 2022, international travellers to Thailand will no longer be required to show proof of vaccination or ATK test results.

International travellers to Thailand no longer required to show proof of vaccination

The ending of the COVID-19 Emergency Decree, which has been in place for 19 times since 25 March, 2020, will result to the CCSA be automatically dissolved, and all the regulations, announcements, and orders issued by the Prime Minister and the Cabinet under the decree be revoked.

The emergency decree, which has been renewed repeatedly despite opposition, will not be extended at the end of this month, officials said. The decree, which allowed the government to take actions such as curtail movements, limit crowd sizes and close private establishments, was also used against anti-government protesters, reported AP News service.

“People and businesses have resumed normal activities and the Public Health Ministry is redefining   Covid-19 as a communicable disease under surveillance, instead of a dangerous communicable disease,”

CCSA spokesman Taweesilp Visanuyothin

Since the pandemic, Thailand has gradually reopened to international tourism starting in July 2021 with the Phuket Sandbox, Samui Plus, and 7+7 Extension programmes. This was followed by a four-phase reopening timeline from October 2021 to January 2022.

The kingdom entered the stage of fully reopening from 1 July, 2022, with the removal of the Thailand Pass registration scheme, and foreign nationals only be required to show proof of vaccination or a negative ATK test result within 72 hours of travel, this will be lifted from 1 October, 2022, onwards.

Free visa entry extended to 45 days

In addition, the cabinet approved extending the period of stay to 45 days (from 30 days) for tourists from countries/territories entitled for visa exemption, and to 30 days (from 15 days) for those eligible for a Visa on Arrival (VOA). This will be in effect from 1 October, 2022, until 31 March, 2023.

According to Acting Government Spokesperson Anucha Burapachaisri, about 5 million foreign tourists have arrived in Thailand so far this year, including about 1 million this month alone. The government estimates that the number of foreign tourists will reach 10 million by the end of 2022, generating 2.38 trillion baht in tourism revenue.





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Indonesia’s parliament has approved the country’s membership in the Regional Comprehensive Economic Partnership (RCEP) trade pact and becomes the latest country in ASEAN to join in what is the world’s largest free trade agreement.

The RCEP is estimated to cover 30 percent of the global GDP of US$25.8 trillion, and comprise 30 percent of the world’s population.

While Indonesian exports will benefit from the reduction in tariffs between RCEP members, the country’s downstream industries are also well poised to receive greater investments. Supported by an abundance of natural resources, Indonesia is actively seeking to climb up the global value chain – transitioning from an exporter of raw commodities to a producer of high-value products.

RCEP to cover 30 percent of the global GDP

The RCEP is estimated to cover 30 percent of the global GDP
The RCEP is estimated to cover 30 percent of the global GDP

Indonesia, Southeast Asia’s largest economy, ratified its membership in the Regional Comprehensive Economic Partnership (RCEP) on August 30, 2022, and becomes the latest country in ASEAN to ratify this trade agreement. The RCEP is estimated to cover 30 percent of the global GDP of US$25.8 trillion, and comprise 30 percent of the world’s population.

RCEP set to eliminate 92 percent of tariffs on goods

With the RCEP set to eliminate 92 percent of tariffs on goods traded among its 15 members, Indonesian lawmakers have expressed concerns that this could trigger an influx of imported goods and thus impact the competitiveness of local businesses, particularly micro and small medium enterprises (MSME). However, with President Joko Widodo’s coalition controlling 80 percent of parliament, ratification of the RCEP is only a matter of time.

The RCEP is estimated to cover 30 percent of the global GDP
The RCEP is estimated to cover 30 percent of the global GDP

Indonesia’s Chief Economics Minister, Airlangga Hartarto, expects the country to book a trade deficit in the early period after implementation, but by 2040, the RCEP could boost the country’s trade surplus by US$979 million, more than double the current trade surplus of US$383 million. Further, Indonesia could see GDP growth by 0.07 percentage points and an increase in exports and imports by US$5 billion and US$4 billion, respectively.

The country’s protectionist policies have made it difficult for foreign investments to enter the country. Indonesia struggled to capture a significant share of the investment and production from businesses moving out of China due to the US-China trade war.

The government has since introduced the Omnibus Law in late 2020 which removes bureaucratic inefficiencies, simplifies business licensing requirements, and liberalized more industries to attract foreign investments.

Investments in Indonesia’s downstream industries

Importantly for Indonesia, the RCEP presents an opportunity to better integrate Indonesia into regional value chains and attract investments into its industries, especially manufacturing, which accounts for 20 percent of GDP. The government aims for Indonesia to become a manufacturing hub that rivals Germany and South Korea.

Indonesia’s main areas of production are textiles and garments, electronics, automotive, footwear, food and beverages, and chemicals. The country’s trade-to-GDP ratio is 40 percent, lower than the global average of 55 to 60 percent, highlighting that Indonesia is poorly integrated with global supply and value chains.

During the 1990s, Indonesia saw large-scale industrialization due to deregulation and a policy shift towards export-oriented industries. However, the country was slow in accumulating technology and reskilling its human resources, leading it to fall behind in its manufacturing competitiveness compared to Singapore, Malaysia, and Thailand.

Indonesia’s strength lies in its extensive natural resources and the processing industries associated with them. Membership in the RCEP can incentivize new investments and partnerships to obtain the technology and resources for expanding industrial capabilities and promoting innovation, besides enabling the climb up the value chain.

Incubating emerging value chains

Indonesia is keen to diversify its manufacturing sector and the RCEP can help transform the country into a producer of high-value products. Incubating new and emerging value chains will be vital if the country wants to increase the contribution of the manufacturing sector to GDP to 25 percent from 20 percent by 2030.

One such example of an emerging value chain the country is exploring is the establishment of an electric vehicle battery plant – the first in Southeast Asia — and marking a milestone in the country’s drive to becoming a global EV battery supplier and establishing a comprehensive EV supply chain.

Indonesia has significant nickel reserves – approximately 24 percent of the world’s reserves – and is a vital component of EV batteries. Moreover, the country’s Grasberg mine located in Papua province, has the second-largest reserve of copper in the world, another key component of EV batteries. When fully operational in 2023, the plant is expected to produce 10-gigawatt hours of lithium-ion battery cells for 150,000 EVs.

Read the complete article here :

Indonesia Ratifies RCEP Trade Agreement (aseanbriefing.com)         





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The Cabinet has approved a 45-day stay for tourists entitled to visa exemptions and 30 days for those eligible for the Visa on Arrival program in order to help boost the tourism sector during the travel season.

The measure was proposed by the Ministry of Interior and approved on Tuesday (20 Sep). It extends the period of stay from 30 to 45 days for tourists arriving from countries that receive visa exemptions, while those eligible for Visas on Arrival can stay up to 30 days instead of the previous 15 days.

A temporary mesure from October 1 to the end of March 2023

The extension will be temporary, running from October 1 to the end of March 2023, to correspond with the peak tourist season, when many tourists from Europe and the United States are expected to travel to Thailand to escape the cold winter.

10 million foreign tourists by the end of 2022

According to Acting Government Spokesperson Anucha Burapachaisri, about 5 million foreign tourists have arrived in Thailand so far this year, including about 1 million this month alone. The government estimates that the number of foreign tourists will reach 10 million by the end of 2022, generating 2.38 trillion baht in tourism revenue.

Information and Source

  • Reporter : Paul Rujopakarn
  • Rewriter : Paul Rujopakarn
  • National News Bureau : http://thainews.prd.go.th





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Thailand has been showered with attention from the United States in recent months after Thai officials privately complained last year that senior Biden administration officials seemed to be passing by Bangkok during their travels to the region.

Secretary of State Antony Blinken visited in July, a month after Defense Secretary Lloyd Austin stopped in Bangkok. Blinken signed a joint communique on a strategic alliance with his Thai counterpart, while Austin sought to strengthen military ties between the nominal allies.

A month earlier, Prime Minister Prayuth Chan-ocha participated in a summit in Washington with President Joe Biden and other Southeast Asian leaders. In June, Thailand joined 12 other countries in signing up to the U.S.-led Indo-Pacific Economic Framework (IPEF), a diverse trade platform that will now be negotiated among partners over the next 18 months.

Blinken and Thai foreign minister Don Pramudwinai signed a U.S.-Thailand Communiqué on Strategic Alliance and Partnership, the first comprehensive effort to broaden the terms of the 1962 Thanat-Rusk communiqué in which the United States committed to support Thailand against communist threats.

The new communiqué expanded relations beyond a military partnership to address the threats of climate change, expand law enforcement cooperation, deepen collaboration on cybersecurity and technological innovation, and advance global public health. Paragraph 6 references a U.S. and Thai agreement to protect human rights and promote free and fair elections. Separately, Blinken and Don signed a memorandum of understanding on supply chain resilience.

Read the complete story: The United States Makes Up Critical Terrain in Thailand | Center for Strategic and International Studies (csis.org)





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The Stock Exchange of Thailand (SET) will list Bangkok Airport Leasehold Real Estate Investment Trust, the first of its kind, on September 14, under the ticker symbol “BAREIT”, amounting to THB 10.33billion (approx. USD 280.70 million).

SET Senior Executive Vice President Manpong Senanarong said that BAREIT would list and start trading on SET in the Property & Construction industry group, Property Fund & REITs sector.

BAREIT offered 1.03 billion trust units to the general public during August 22 –
26, 2022; and Bangkok Airways group, institutional investors and ultra-high net
worth investors during August 30 – September 1, 2022, at a price of THB 10
each. Bangkok REIT Management Co., Ltd. is the REIT manager, Kasikornbank pcl is its financial advisor and lead underwriter, and Kasikorn Asset Management Co., Ltd. is the trustee.

BAREIT invests in leasehold rights of land, buildings and attachment of some
properties used in the operations of Samui Airport for a period of 25 years, and
has subleased to Bangkok Airport Management Co., Ltd. which is a subsidiary of
Bangkok Airways pcl with experience and expertise in airport development and
management business, including airlines services under the name of Bangkok
Airways. In addition, the Samui Airport has been in service for more than 33
years, with a strategic location on Koh Samui, an island off the east coast of
Thailand & a world-class tourist destination, and it is an international airport
that accommodates both domestic and international flights to facilitate foreign
tourists.

Bangkok REIT Management Co., Ltd Managing Director Leelaphat Leelawanich said that BAREIT invests in assets with high growth potential as Koh Samui is one of Thailand’s major tourist attractions. Samui Airport is therefore a gateway for tourists visiting Koh Samui and nearby islands, generating considerable income in line with the growth of the number of tourists. During the past 10 years (2010-2019), Samui Airport accommodated a total of over 2.6 million inbound/outbound tourists per year with a total of over 30,000 flights per year.

BAREIT will receive income from the sublease of assets to Bangkok Airport
Management Co., Ltd., which is the airport manager. All these can ensure that
such assets will be well managed, and will generate income from potential
tenants, delivering consistent income over the period of 25 years, under the
condition that the rent can be raised by approximately 2 percent each year. As
for the first year, it is expected to pay a return of approximately 8.09 percent
annually, which may be paid in the form of dividends or capital reductions.
Significantly, BAREIT is considered as one of the trust funds in the market with attractive rate of return.

BAREIT has a policy of paying returns four times a year at a rate of not less than 90 percent of the adjusted net profit of the fiscal year, and in cases where the REIT manager deems appropriate, such as in the case of REIT’s capital increase, BAREIT may be able to pay returns benefits to trust unitholders more than four times a year. BAREIT’s three major trust unitholders after the IPO are :

1) Bangkok Airways pcl (25.00 percent),

2) Bangkok Dusit Medical Services pcl
(4.84 percent), and

3) TMB EASTSPRING Property and Infrastructure Income Plus Flexible Fund (3.27 percent).

Investors and interested parties please find more details of BAREIT’s prospectus
at the Securities and Exchange Commission’s website at www.sec.or.th; and for
general information of BAREIT, please visit www.bareit.co.th and www.set.or.th.





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BANGKOK (NNT) – The government has affirmed its plan to prohibit plastic scrap imports by 2025, with the ban to be implemented in stages over the next three years.

Natural Resources and Environment Minister Varawut Silpa-archa made the announcement while chairing a meeting of a subcommittee on plastic and electronic waste management.

The meeting was held to discuss the production capacity of plastic scrap-related factories and banning the import of plastic scrap for raw materials in the industrial sector.

Varawut said the ban, which had been considered since 2020, seeks to rid Thailand of plastic waste in a major step towards ensuring public safety and protecting the environment.

He added that the panel agreed that 14 plants located in free trade zones would be authorized to import plastic scrap until 2024. This would be carried out and limited in two phases, with the first phase commencing in 2023 to limit the amount of imported scrap based on actual production capacities.

The second phase will begin the year after when just 50% of imports will be permitted, followed by a comprehensive prohibition at all plants in 2025.

According to the minister, Thailand produces 24.98 million tons of residential garbage annually, of which only 32% is treated efficiently.

Varawut also said the government will continue to promote a campaign to reduce the use of single-use plastic bags at department and convenience stores, citing the program’s ability to reduce plastic bag usage by 43% or 150,000 tons over the last two years.

Information and Source

  • Reporter : Paul Rujopakarn
  • Rewriter : Paul Rujopakarn
  • National News Bureau : http://thainews.prd.go.th





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Economic activity in Thailand is recovering from an unprecedented crisis, supported by a swift and bold policy response, while inflation is on an upward trend reflecting rising commodity prices, said IMF in its latest statement.

Thailand’s economy grew by 1.5 percent in 2021 bolstered by the implementation of a multi-pronged policy support package, and a rebound in exports.

Thailand’s economy is recovering from an unprecedented crisis emanating from multiple waves of the COVID-19 pandemic. Ample policy space has allowed a swift and bold policy response and vaccine rollout has accelerated.

IMF country report

The current account balance turned into a deficit of 1.7 percent of GDP in 2021, from a surplus of 4.2 percent of GDP in 2020, largely reflecting a sharp decline in tourism receipts and soaring shipping costs amid supply chain disruptions.

Strong consumption and exports

The growth momentum continued so far this year based on strong consumption and exports. Reflecting rising energy prices, headline inflation accelerated to 5.9 percent y/y during Jan-July 2022 from a 1.2 percent average inflation recorded in 2021.0

The economic recovery continues in 2022 but is clouded by the deteriorated global outlook. Real GDP is projected to grow by 2.8 percent in 2022, lower than initially expected, as the prolonged war in Ukraine dampens domestic demand through rising commodity prices and lowers external demand.

Growth to rebound to 4 percent in 2023

As the pandemic subsides, GDP growth is expected to rebound to about 4 percent in 2023 before trending down to its potential rate of about 3 percent in the medium term.

Headline inflation to 6.1 percent in 2022

Headline inflation is expected to average 6.1 percent in 2022 driven by high commodity prices, before decelerating to 2.5 percent in 2023—within the Bank of Thailand’s (BOT) target range.

The current account deficit is expected to narrow to -0.8 percent of GDP in 2022 as tourism receipts gradually pick up along with the removal of COVID-19 entry restrictions, and to return to a surplus of around 3-3.5 percent of GDP over the medium term.

Return of foreign tourists critical

Growth prospects critically hinge on the return of foreign tourists, while soaring energy prices due to the prolonged war in Ukraine could further weigh on private consumption and external demand. A disorderly tightening of global financial conditions and spillovers from a sharper growth slowdown in China amidst already-stretched private sector balance sheets could derail the economy’s rebound.

Thailand: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand (imf.org)





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Ms. Siritida Panomwon Na Ayudhya, Assistant Governor Payment Systems Policy and Financial Technology Group, Bank of Thailand (BOT) informed that following the issuance of the BOT’s guidelines on “Repositioning Thailand’s Financial Sector for a Sustainable Digital Economy”, the BOT has now issued new directional paper, namely: “Directions for Development of Payment Systems Under the New Financial Sector Landscape of Thailand”.

It aims to illustrate Thailand’s three-year (2022 – 2024) payment systems development strategy, which is in line with the country’s overall financial sector policy landscape.

The paper highlights the importance of electronic payment systems as a mechanism to support efficient and sustainable transitions of the Thai financial sector to a digital economy.

Openness, Inclusivity, and Resiliency

The development of payment system will be implemented under three key principles: Openness, Inclusivity, and Resiliency. This will eventually support the overall vision that “digital payments would be the preferred choice among all user groups, and would also improve the quality of life, enhance competitiveness and transition Thailand to a ‘less cash’ society”. The strategic directions are subsumed under three principles as follows:

1. Openness

This focuses on the utilization of shared payment infrastructures and information in order to increase efficiency, promote competition, and develop innovation development.  This also includes enhancing Thailand’s role in the cross-border payments. Plans under this strategy include:

(1) to develop a unified infrastructure for trade information and digital payments, so-called “PromptBiz”;

(2) to enhance the usage of international and central standards in payment systems such as the ISO 20022 standard, to link between systems and service providers of Application Programming Interface or API;

(3) to provide a proper governance structure to support the rapid development of the country’s payment systems;

(4) to develop a payment database under the Regulatory Data Transformation (RDT) project and integrate it with government data frameworks, thus providing greater benefits due to broader data usages; and (5) to facilitate access to key payment infrastructures by amending outdated rules and regulations. 

2. Inclusivity

The goal is to provide people of all walks of life with broad access to digital payment services; and also, to drive digital payments as the preferred choice of Thai people. Under this strategy, collaboration with public and private sectors, as well with payment service providers, will be enhanced in order to expand digital payments to specific target groups.  Practical applications include providing digital payment channels for public transportation passengers, or the expansion of digital services in public sector mobile applications, or the continuous promotion of financial literacy to ensure correct and safe usage of digital payment services.    

3. Resiliency

This aims to ensure that supervision of digital payment services will be flexible and fair and will not create additional systemic risks. Implementation plans include:

(1) to improve regulatory conditions and criteria using regulatory impact assessment (RIA) framework, making them adaptable flexible to changes and developments of payment systems;

(2)  to issue new payment regulations supporting new technologies and risks, such as the supervision of innovative payment services;

(3) to enhance supervisory tools, such as using sup tech, to keep pace with changes in the environment;

(4) to cooperate with domestic and foreign regulators, banking associations, service providers and related agencies so as to create a common body of knowledge and to address problems in a timely manner;

(5) to develop human resource competencies in order to to support the new digital financial landscape.

Under this strategic plan, the BOT aspires to make the Thai payment system become well-equipped for the digitalization of the economy, in particular, the financial sector, businesses, and as well as the general public. Implementation of the plan will highlight efficiency, safety and sustainability of payment services, as well as the development of digital payment services to create variety of use cases and to serve varied user groups. 

This includes providing adequate financial knowledge and risk awareness to the public and encouraging business to become wholly digitalized, leading to increased efficiencies, reduced costs, and increased opportunities for better access to funding. This will eventually enhance the potential of business operations and support the competitiveness of Thailand, making the country ready for the transition to a “less-cash” society.

Bank of Thailand
15 September 2022





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BANGKOK (NNT) – Siam Commercial Bank’s Economic Intelligence Center has readjusted up its projection for Thailand’s GDP growth at 3% this year and 3.7% next year, thanks to the recovery of tourism and private consumption.

Mr. Somprawin Manprasert, SCB’s First Executive Vice President, Chief Economist, and Chief Strategy Officer of the Economic Intelligence Center said the adjustment was made to reflect the revenue from the tourism and related sectors, and continuous growth in private consumption.

10.3 million international visitors in 2022

According to the EIC, Thailand is expected to welcome 10.3 million international visitors this year, and 28.3 million international visitors next year.

The EIC expects however for the Thai economy to take another 2 years to recover at full speed, and for the country’s Monetary Policy Committee to further raise the policy rate at increments of 0.25%.

Policy rate to reach 2% in 2023

The Monetary Policy Committee is expected to make these changes in September and November, making the policy rate reached 1.25% towards the end of this year. The committee is expected to readjust the policy rate three times next year until the rate reaches 2%.

Thailand’s economy continues to face challenges from the global economic slowdown, particularly in the United States and European Union which suppresses the country’s exports and investments.

Economic slowdown in China

The zero-Covid policy and property crisis, together with the high inflation rate affecting the purchasing power of households and businesses, have contributed to higher than the expected economic slowdown in China. Uncertainties in Thailand’s politics may affect the confidence in the manufacturing and investment sectors, making it necessary for the government to continue providing help to the vulnerable population.

Information and Source

  • Reporter : Tanakorn Sangiam
  • Rewriter : Tarin Angskul
  • National News Bureau : http://thainews.prd.go.th





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