ASPS sees market rebound, economic recovery in 2022
(Photo: Pornprom Satrabhaya)The Thai economy can expect 3.2% growth and a clear recovery in 2022, while total profits of listed companies are projected to rise to 921 billion baht, up 8.8% from this year, according to Asia Plus Securities (ASPS). The SET Index is projected to continue rising to 1,816 points next year, said Therdsak Thaveeteeratham, executive vice-president of ASPS. For external factors, investors should monitor global concerns over China Evergrande Group's debt default and the Federal Reserve's decision on the tapering of its quantitative easing, he said. ASPS expects the Thai economy in the third quarter this year to contract by 5.3% year-on-year before starting a recovery in the fourth quarter from the gradual easing of lockdown measures, an increase in economic activities, and the government's upcoming economic stimulus packages. The first group includes stocks expected to benefit from the restart of the economy, while the second includes stocks expected to benefit from the restructuring of the SET50 and SET100 indices," he said.
Source:Bangkok Post
October 06, 2021 23:48 UTC
XSpring Digital rakes in B2.4bn from SIRIHUB
XSpring Digital rakes in B2.4bn from SIRIHUBXSpring Digital Co has raised 2.4 billion baht from selling a total of 240 million Siri Hub Investment Digital Tokens (SIRIHUB), the country's first real estate-backed token, with over 6,000 subscriptions. SIRIHUB will be listed on ERX, the digital asset exchange on Oct 12. The offering of SIRIHUB was Thailand's first initial coin offering (ICO) of real estate-backed tokens under the Emergency Decree on the Digital Asset Businesses and the supervision of the Securities and Exchange Commission, according to Att Thongyai Asavanund, chief executive of XSpring Digital. XSpring Digital is scheduled to announce the allocation results of the digital tokens soon after the subscription period, which ended on Oct 4. It has applied for the licences for a digital asset broker and dealer that will allow XSpring Digital to provide a one-stop service to meet the growing demand from many businesses interested in raising funds via tokenisation.
Source:Bangkok Post
October 06, 2021 23:48 UTC
DTAC eyes 10m app users as digital push accelerates
The company has also targeted a five-fold growth in digital acquisition by 2023, aiming to turn the DTAC app into a super app. DTAC shops are 100% digital and have paperless operations, with automation to optimise many labour-intensive processes, said Mr How. Penetration of monthly active digital users has reached 46% of DTAC subscribers, he said. More than six million users have downloaded the DTAC app, which makes it easier for customers to engage in digital services. For inclusivity, the company has seen a 300% growth of prepaid customers on the app, with 124% growth from upcountry customers.
Source:Bangkok Post
October 06, 2021 23:48 UTC
Thai AirAsia expects full domestic rebound in Q4
Thai AirAsia expects full domestic rebound in Q4Minister of Tourism and Sports Phiphat Ratchakitprakarn, centre, along with high-ranking officials and crew of AirAsia, attend the firm's press conference on Wednesday in Chiang Mai, to build confidence and stimulate domestic tourism until year-end. Thai AirAsia (TAA) is eyeing a full rebound of domestic capacity in the fourth quarter after seeing early signs of improvement. "The airline used 30 aircraft for full domestic capacity last November and December thanks to the boom in domestic tourism," Mr Santisuk said. "We are hopeful that domestic capacity could reach its peak in December and next January." Thai AirAsia aims to carry 4 million passengers this year, compared to 9.49 million last year and 22 million prior to the pandemic.
Source:Bangkok Post
October 06, 2021 23:48 UTC
Exports of lifestyle products up
Exports of lifestyle products upThai lifestyle product shipments are expected to grow healthily by 13.4% this year to 363 billion baht, driven by the economic recovery of trading partners and exporters' adjustment to sell their products through online and online business matching. Phusit Ratanakul Sereroengrit, director-general of the International Trade Promotion Department, said with economies in major export markets having gradually recovered, Thai lifestyle and fashion product exports increased by 15% to 24 billion baht in the first eight months of this year. "Thailand's lifestyle and fashion product exports are expected to maintain the growth momentum until the end of this year," he said. Entrepreneurs also adjusted their marketing channels to overcome the Covid-19 crisis, tapping more into online and online business matching. According to Mr Phusit, Thai lifestyle and fashion products still need to compete on quality and design rather than pricing strategy.
Source:Bangkok Post
October 06, 2021 23:48 UTC
Mice pleads for help
"The associations hope the government will help further relax restrictions and allow Mice operators to resume their business in the final quarter this year," said Upatham Nisitsukcharoen, chairman of the Business of Creative and Event Management Association. He led executives of the Thai Exhibition Association, Thailand Incentive and Convention Association and Thai Hotels Association to submit their request to the government. Mr Upatham said the Mice industry generated 500 billion baht in revenue in 2019 and employed 400,000 workers. The Mice industry should be allowed to reopen as well," said Mr Upatham. Mice operators have already prepared health and safety measures and are ready to resume business, he said.
Source:Bangkok Post
October 06, 2021 23:44 UTC
Gloves come off in corruption case
Gloves come off in corruption caseThe Public Warehouse Organisation (PWO) has fired three senior officials for alleged corruption in the purchase of 112.5-billion-baht worth of rubber gloves and ordered them to pay 2 billion baht compensation in damages. PWO director Kriangsak Prateepvisut will submit the result to the board meeting this month, Mr Jurin said. The PWO filed a complaint with the Department of Special Investigation last September regarding Pol Col Roongroj Phutthiyawat for authorising the deal with the Guardian Gloves company. At that time, Pol Col Roongroj defended the purchase, saying he only wanted to help increase the organisation's revenue since the PWO had not made a profit for five years. The PWO will also sue them for the return of their salaries since they allegedly committed the corruption scheme last August, Mr Jurin added.
Source:Bangkok Post
October 06, 2021 23:37 UTC
Republican leader offers temporary fix to US debt crisis
Republican leader offers temporary fix to US debt crisisSenate Minority Leader Mitch McConnell offers a temporary respite in the US debt ceiling standoff. Senate Minority Leader Mitch McConnell said Republicans would allow Democrats to vote for temporarily lifting the debt ceiling, which is about to expire, triggering a government default, "into December." The debt ceiling is a legal limit on the ever-ballooning US national debt. Biden called the debt ceiling a "meteor headed to crash into our economy," while Citi Bank CEO Jane Fraser said Congress was "playing with fire." "Republican obstruction on the debt ceiling over the last few weeks has been reckless, it's been irresponsible," Chuck Schumer, the Senate's Democratic leader, told lawmakers.
Source:Bangkok Post
October 06, 2021 18:56 UTC
Pope expresses 'shame' at French sex abuse scandal
Pope expresses 'shame' at French sex abuse scandalPope Francis issued a statement through his spokesman Tuesday expressing his sorrow for the victims, but went further in a personal message delivered during his weekly general audience at the Vatican. VATICAN CITY: Pope Francis on Wednesday expressed personal shame at the sexual abuse of children by French Catholic clergy, after the scale of the problem was laid bare in a devastating report. An independent commission on Tuesday revealed that French Catholic clergy had sexually abused around 216,000 youngsters since 1950, a "massive phenomenon" that was covered up by a "veil of silence". "And also my shame, our shame, my shame for the inability of the Church for too long to put them at the centre of its concerns." Dealing with the avalanche of revelations about sexual abuse by clergy was one of the biggest challenges that Francis faced when he was elected pope in 2013.
Source:Bangkok Post
October 06, 2021 14:03 UTC
Govt targets B882bn in local tourism revenue next year
Govt targets B882bn in local tourism revenue next yearThe Mon Chaem viewpoint in Chiang Mai's Mae Rim district on Sept 17, 2021. (Photo: Dave Kendall)The government aims to generate at least 882 billion baht in domestic tourism revenue next year from government measures to revive the struggling sector after a major slump in foreign arrivals. The country plans to soon welcome more vaccinated foreign tourists. In the first eight months of 2021, Thailand recorded 127 billion baht in domestic tourism, despite incentives to encourage more local travel. Last year, domestic tourism revenue dropped 55% to 482 billion baht, compared with an 83% plunge in foreign tourist receipts to 332 billion baht.
Source:Bangkok Post
October 06, 2021 12:33 UTC
Thousands of Gazans apply for Israeli work permits
Thousands of Gazans apply for Israeli work permitsPalestinian men gather to apply for work permits in Israel, at Jabalia refugee camp in the northern Gaza StripGAZA CITY (PALESTINIAN TERRITORIES) - Thousands of Gazans applied Wednesday for work permits for Israel, which has been reopening its gates to labourers from the Palestinian enclave following the latest war in May. "There is no work in the Gaza Strip," said Fathi Abu Nur, a 40-year-old unemployed man. "Yesterday I heard that workers are registering to get permits (for Israel)," he said. Palestinian economic analyst Omar Shaaban said Israeli work permits could help alleviate "the unemployment crisis and poverty" within the territory, ruled by the Islamist movement Hamas. According to Shaaban, Gaza's income would increase by three million dollars per day ($3 million), if Israel granted 20,000 work permits.
Source:Bangkok Post
October 06, 2021 12:11 UTC
Prayut speeds up vaccine campaign in far South
Prayut speeds up vaccine campaign in far SouthA public health staff administers the second dose of the AstraZeneca vaccine for a woman at the Central Plaza shopping centre in Lat Phrao on Tuesday. He wants to see the infection rate reduced by at least 10% a week. With the help of medical professionals, we believe the infection rate will soon decline," he said. Songkhla has the highest infection rate in the South. The DDC will dispatch another 200,000 doses of Sinopharm for a total of 2.2 million vaccine doses in the four provinces, he said.
Source:Bangkok Post
October 06, 2021 11:48 UTC
Vietnam to welcome more vaccinated travellers from December
Vietnam to welcome more vaccinated travellers from DecemberLanterns hang on a street in Vietnam's central ancient town of Hoi An, a Unesco heritage site, on June 25, 2015. Vietnam last month announced it would reopen the resort island Phu Quoc for vaccinated travellers from November. "We are moving step by step, cautiously but flexibly to adapt to real situations of the pandemic." The move follows similar steps taken by neighbouring Thailand, which will next month expand locations in its pilot scheme to allow vaccinated visitors. Foreign arrivals to Vietnam fell to 3.8 million last year down from 18 million in 2019, when tourism revenue was $31 billion, equivalent to 12% of GDP.
Source:Bangkok Post
October 06, 2021 11:37 UTC
Doctors oppose legalising e-cigarettes
Doctors oppose legalising e-cigarettesVaporisers, e-cigarette refills and other illegal products seized by the Consumer Protection Police Division early this year are put on display at the CPPD headquarters on Chaeng Wattana road. Dr Amorn said e-cigarettes were produced by firms in the tobacco industry to replace ordinary tobacco cigarettes. Results from worldwide research showed e-cigarettes were clearly hazardous to health, Dr Amorn said. He said e-cigarettes, like tobacco cigarettes, contained nicotine, a narcotic substance which caused many chronic diseases that required costly treatment. The president of the Royal College of Surgeons of Thailand, Prof Pramuk Mutirangkura, joined opposition to legalising the sale of e-cigarettes.
Source:Bangkok Post
October 06, 2021 10:44 UTC
Asean in talks on barring Myanmar junta chief from summit: envoy
Asean in talks on barring Myanmar junta chief from summit: envoyFILE PHOTO: Myanmar's junta chief Senior General Min Aung Hlaing, who ousted the elected government in a coup on Feb 1, presides over an army parade on Armed Forces Day in Naypyitaw, Myanmar, March 27, 2021. (Reuters)Southeast Asian nations are discussing whether to exclude Myanmar's junta chief from a summit due to slow progress on a plan to address turmoil after a coup in the country earlier this year, a top diplomat said Wednesday. Asked if action will be taken at the summit to suspend Myanmar, Erywan said this was not being discussed. Erywan said he was ready to visit Myanmar and was waiting for a programme from the junta that would include his itinerary and the people he would be allowed to meet. Last Thursday, a junta spokesman said it would be "difficult" for the envoy to hold talks with people on trial.
Source:Bangkok Post
October 06, 2021 10:30 UTC