Tour bus operators seek urgent financial aid
Wasuchet Sophonsathien, president of the Thai Transportation Operators Association, said that while tourism was at its peak, each bus could generate 50,000 baht a day from tour services. Just 10% of the 40,000 tour buses nationwide are still in use for industrial estates, which are also affected by the economic fallout as factories carry out cost-reduction strategies. The transport segment includes 10,000 tour bus operators, of which 50% are small and medium-sized businesses, generating 100,000 jobs such as drivers, maintenance and other staff. Mr Wasuchet said tour bus operators expect to receive 30% from the 2.4-billion-baht budget for the Moral Support scheme or 8,000 baht per bus per day to get more cash when receiving payments by August. Operators would also like the Centre for Covid-19 Situation Administration to let tour buses run at full capacity, instead of limited to 70% of available seats, which incurs higher costs.
Source:Bangkok Post
July 02, 2020 23:15 UTC
Glove maker STGT's SET debut a success
Glove maker STGT's SET debut a successMs Jarinya (centre right) and SET president Pakorn Peetathawatchai (centre left) share the SET stage on STGT's first day of trading. SET-listed Sri Trang Gloves Thailand (STGT) made its trading debut on Thursday on a high note, supported by rising demand for rubber gloves amid the pandemic. The company's share price saw a 78% gain during Thursday's debut and ended the day at 60.50 baht per share in trade worth 17.26 billion baht. STGT recently sold 438.78 million IPO shares worth 34 baht per share amid high demand from institutional and retail investors, as rubber glove demand has surged during the pandemic. The funds raised from the IPO, worth about 15 billion baht, should be sufficient to double manufacturing capacity over the next 5-6 years, according to MBKEST.
Source:Bangkok Post
July 02, 2020 23:15 UTC
Buyers brave Thailand Mobile Expo
Buyers brave Thailand Mobile ExpoVisitors peruse booths at Thailand Mobile Expo 2020. After a month of delays caused by the pandemic, Thailand Mobile Expo kicked off on Thursday with crowds lured by clearance sales and promotions to coax users to replace their old gadgets. "This is the largest exhibition since the outbreak, in a 30% smaller space," said Opas Cherdpunt, managing director of M Vision, the organiser of Thailand Mobile Expo. Thailand Mobile Expo is held three times a year. Given the prevailing economic sentiment, buyers are likely to continue to use their smartphones 18-24 months longer, Mr Opas said.
Source:Bangkok Post
July 02, 2020 23:15 UTC
Zidane wants Messi to stay in Spain despite Barcelona exit claims
Zidane wants Messi to stay in Spain despite Barcelona exit claimsOn the way out? Lionel MessiMADRID: Lionel Messi was reported on Thursday to be planning to leave Barcelona in 2021, but Real Madrid coach Zinedine Zidane was hoping the Argentine maestro will stay in Spain. Barca sit second in La Liga with five games left, four points behind Real Madrid, who edged past Getafe 1-0 on Thursday to put the title within their grasp. Messi said in February he did not believe Barcelona could win the Champions League on current form. Among those set to run against Bartomeu's successor is Victor Font, who wants to appoint Messi's former team-mate Xavi Hernandez as coach.
Source:Bangkok Post
July 02, 2020 23:15 UTC
Canadian sparrows changing their tune
Canadian sparrows changing their tuneThe white-throated sparrow of North America, whose singing preferences are the subject of a new study. WASHINGTON: Members of a Canadian sparrow species famous for their jaunty signature song are changing their tune, a curious example of a "viral phenomenon" in the animal kingdom, a study showed Thursday. Canadians even invented lyrics to accompany the ditty: "Oh my sweet, Ca-na-da, Ca-na-da, Ca-na-da." But starting from the late 20th century, biologists began noticing that members of the species in western Canada were innovating. Going back to the human example, it would be akin to "if all the French women in Paris thought that a Quebec accent sounded much more interesting than a Parisian accent, and so everybody starts adopting a Quebec accent."
Source:Bangkok Post
July 02, 2020 23:15 UTC
Digital focus at UOB takes centre stage during crisis
UOB (Thai) adapted quickly to the need to operate virtually and to enable bank's employees to work from home. Working remotely may become part of the "new normal" for UOB (Thai) and other banks in the future. We need to be more digital and make sure we adapt to the changes in consumer behaviour," Mr Tan said. Launched last year, TMRW, the Bank's digital bank for the digital generation, was the first-of-its-kind mobile-only digital bank in Asean and has garnered numerous awards for its use of artificial intelligence, biometrics, virtual reality gaming and other technologies. Managing risk through diversificationOverall, Mr Tan said he was cautiously optimistic for Thailand's economic future post-COVID.
Source:Bangkok Post
July 02, 2020 23:03 UTC
Undue politicisation at finance and BoT
Undue politicisation at finance and BoTAs the coronavirus crisis unfolds, the Bank of Thailand needs to remain free of politicisation. Yet both the finance ministry portfolio and the BoT governorship now face uncertainty and potential politicisation that bode ill for effective and autonomous fiscal and monetary policies. The initial search period from May 26 to June 16 netted four candidates, two deputy BoT governors and two outsiders with finance, banking, and economics backgrounds. Such a delay is tantamount to a rejection of two experienced BoT deputy chiefs who have spent their professional careers at the central bank. Ultimately, the BoT is not legally "independent" per se, and is under the purview of the finance minister.
Source:Bangkok Post
July 02, 2020 22:52 UTC
Surrogate mothers warned of dangers
Surrogate mothers warned of dangersMembers of an illegal commercial surrogacy racket operating in Chon Buri and Bangkok are quizzed by police late last month. (Police photo)Women tempted to earn money by becoming surrogate mothers in countries where there are no laws to regulate the practice have been warned about its potential health and social implications. They could end up in a bad way if anything goes wrong, if they agree to become surrogate mothers in countries where the practice is not regulated, said Tares Krassanairawiwong, director-general of the Department of Health Service Support (DHSS) on Thursday. Legal surrogate mothers in Thailand are well protected under this specific law as the biological parents of these babies are required to formally sign an agreement to cover all medical services and related healthcare services of surrogate mothers. In addition, surrogate mothers in Thailand do not have to worry about parents potentially abandoning their babies if anything goes wrong as the law states their status as legal guardians.
Source:Bangkok Post
July 02, 2020 22:52 UTC
Union calls for review of mass lay-offs
Nutthawat WicheanbutThe labour union of the Education Ministry’s textbook publishing and sales business, known as Suksapan, is demanding a review of the mass layoffs announced this week, blaming mismanagement for the organisation’s financial problems. The order to terminate 961 workers, or 93% of all Suksapan employees, cited enormous debt and a lack of liquidity. Outstanding debts of 5.7 billion baht were from loans sought by the organisation's executives since 2001 to hire firms to print textbooks. The borrowing reflects a lack of financial discipline leading to bad debts, according to the union. "We think the business organisation's executives should first figure out the cause of financial problems and use governance in solving the issue," said the union.
Source:Bangkok Post
July 02, 2020 22:51 UTC
Contact sports wait for virus all clear
Authorities are monitoring social distancing measures implemented at nightspots since the phase 5 easing of Covid-19 restrictions started on Monday. With the country continuing to record zero new local transmission cases, all eyes are now on sporting activities which were suspended in March when the Covid-19 situation worsened. Mr Anutin, also the public health minister, said the travel bubble scheme will also have to wait, even though measures have been drafted. Authorities have to assess the Covid-19 situation because schools and entertainment venues have just reopened. Some are still concerned about the Covid-19 situation," he said.
Source:Bangkok Post
July 02, 2020 22:41 UTC
Local flights pick up steam in North
Local flights pick up steam in NorthPeople arrive on scheduled domestic flights at Chiang Mai airport on Thursday. More flights and passengers are expected at the airport this month with the Covid-19 lockdown easing. The North's main gateway airport is recovering some of its flight and passenger traffic. International flights are likely to return slowly after the Civil Aviation Authority of Thailand (CAAT) announced the lifting of the ban on international flights under some conditions with immediate effect on Monday. International passenger demand fell 98.3% in May compared to May 2019, virtually unchanged from the 98.4% decline recorded in April.
Source:Bangkok Post
July 02, 2020 22:30 UTC
SPBT stays positive amid weak market
SPBT stays positive amid weak marketMr Somchai (left) and Charonchai Salyapong, SPBT's corporate affairs director, promote the company's carbonated soft drinks. Pitsinee JitpleecheepSuntory PepsiCo Beverage Thailand Co (SPBT), a drinks distributor, remains upbeat about its sales prospects despite a weak market overall for soft drinks in the first five months of the year. According to Nielsen, the carbonated soft drink industry in Thailand was estimated to be worth 56 billion baht in 2019, up 12% on the previous year. Mr Somchai said Thailand's carbonated soft drink market is expected to recover in the second half of the year with all businesses allowed to operate as usual. Thailand's soft drink market was worth 155 billion baht in 2019, an increase of 9% from the year before.
Source:Bangkok Post
July 02, 2020 22:07 UTC
TMBAM Eastspring makes good on more than B68bn
TMBAM Eastspring makes good on more than B68bnTMBAM Eastspring has made more than 68 billion baht in repayments to mutual fund unit holders, equivalent to 34-55% of assets in each fund since the fund closures in March. Boonchai Kiattanavich, interim managing director of TMBAM Eastspring and managing director of Thanachart Fund Eastspring, said TMBAM Eastspring closed four fixed-income funds amid bond market turmoil caused by the coronavirus pandemic, which resulted in unprecedented outflows from continuous redemptions. Of the four fixed-income funds, the two funds in the spotlight are TMB Ultra-Short Bond Fund (TMBUSB) and TMB Aggregate Bond Fund (TMBABF). TMBAM Eastspring therefore requested and received a repayment extension in the liquidation period for another 90 days, from July 9 to Oct 7. Mr Boonchai said TMBAM Eastspring and Thanachart Eastspring will launch a new fund in the second half, but the move will hinge on market timing and conditions.
Source:Bangkok Post
July 02, 2020 22:07 UTC
Out with old, in with new. So short-sighted
They might have thought it would be just another demolition job on an old structure, the type of job they had done countless times before. It was clear that the contractor -- or the Forest Department that hired the contractor -- had from the outset absolutely no intention of keeping the heritage building. The 123-metre Banharn-Jamsai tower in Suphan Buri, which was always intended to be a landmark, remains the country's highest observation tower. Do we really need a sky-high observation tower in the middle of nowhere? Do we really need a skywalk to enjoy a sea of fog if we are already on top of a mountain?
Source:Bangkok Post
July 02, 2020 22:07 UTC
Govt to lure US tech firms
Government House photoUS investors are being urged to develop a Silicon Valley-like centre for innovative tech firms in the Eastern Economic Corridor (EEC), with the government pledging to devise special promotion packages for them. "We talked about the framework for working together to strengthen the economy and promote US investment in Thailand," Mr Somkid said. Mr Somkid said Thailand continues to have ample attractions for foreign investment. Mr Somkid said the US also asked the government to speed up promoting investment in promising industries like electronics, digital and medical devices. According to Mr Somkid, US investors remain keen to invest in Thailand and use it as a production base for Southeast Asia.
Source:Bangkok Post
July 02, 2020 22:07 UTC