24CS (to be EMPIRE): Shareholders approved rebranding 24CS to “Origin Global Empire”, with a new stock symbol EMPIRE effective early Nov 2025. The move supports its diversification into cosmetics and health supplements. (Hoonsmart)

Comment: Going from HVAC’s to cosmetics and health supplements….well why not.

AOT: Air France will launch three weekly direct flights from Paris–Charles de Gaulle to Phuket startg Nov 27, 2025, while increasing Paris–Bangkok flights to twice daily for the winter schedule (Nov 2025–Mar 2026).

Comment: Traveling throughout the region I’ve simply noticed far more frenchies than any other Europeans.

AU: Market expectations point to a weak 3Q, reflecting slower-than-expected recovery and a lack of clarity in its core business outlook, as branch expansion moderates and retail revenue growth softens. (Thunhoon)

Comment: How much longer can this brand stay relevant?

BSRC: Thai NVDR will not issue NVDRs for BSRC as the company is under tender offer by BCP and set to be delisted. Investors can no longer buy BSRC-R but may continue selling existing holdings, effective Oct 24, 2025.

KBANK / BBL: KBANK has seen strong foreign inflows via NVDRs for two consecutive days, with net buys of Bt1.45bn on Oct 21 and Bt1.12bn on Oct 22 following its earnings release. BBL also recorded significant NVDR inflows of Bt1.40bn on Oct 22, lifting foreign NVDR holdings to 23.1%. Keep an eye on this — if the level approaches the 25% cap, the SET may temporarily suspend BBL-R purchases.

Comment: Usual – more about flow..

GPSC: GPSC plans to expand renewable energy investments in India, which is accelerating its clean energy transition. The company is seeking new opportunities beyond its existing 39.9% stake in Avaada Energy through Global Renewable Synergy. (Bangkok Post)

KTC: KTC noted that many Thais still face serious challenges in managing personal finances, with household debt remaining persistently high at over 90% of GDP, the highest ratio in Southeast Asia. (Kaohoon)

Comment: Did they really just notice this? KTC thrives on customers only doing minimal payments.

MONO / JAS: MONOMAX, the streaming arm of MONO and JAS, has reached 1 million subscribers, driven by exclusive English Premier League broadcasts and new high-profile sports content launching in 4Q25, expected to further accelerate subscriber growth.

Comment: Does make me wonder – what other mismanaged businesses will True offload that others that can benefit from?

Telecom Regulation: The NBTC has tightened controls to curb scam operations, prohibiting the use of Thai-registered IPs abroad and ordering operators to restrict mobile signal coverage in border provinces. The NBTC will also limit the number of SIM cards per person and require identity verification for all users, with power to suspend or revoke operator licenses for violations.

Comment: One wonders how much AIS & TRUE have benefited from this in the past.

TRUE: Mobile data revealed a surge in activity on the government’s “Khon La Khrueng Plus” co-payment scheme registration day, with “Pao Tang” app usage among TRUE/dtac customers up more than 2,600% between 06:00–22:00 vs. normal levels — signaling overwhelming nationwide participation. (Kaohoon)

Comment: A second order impact that one doesn’t think about ..

Thai–Cambodia Border Deal: The Foreign Ministry confirmed that Thailand and Cambodia will sign a “joint declaration” to defuse the border dispute that escalated into deadly clashes earlier this year. The agreement will be inked on Oct 25 during the ASEAN Summit in Kuala Lumpur, following substantial progress on Thailand’s key demands — including withdrawal of heavy weapons, landmine clearance, a crackdown on transnational cyber scams, and relocation of Cambodian nationals encroaching on Thai territory.

Economy: The BOT now expects GDP growth of 2.2% in 2025 and 1.6% in 2026. Government stimulus should support 4Q25, but overall momentum is slowing as manufacturing and exports begin to feel the impact of U.S. tariffs. (Thunhoon)

Government Policy: The government is considering easing zoning rules for entertainment venues and lifting the nationwide afternoon alcohol sales ban. Currently, extended 4 a.m. operations are allowed only in Bangkok, Chiang Mai, Phuket, Chon Buri, and Koh Samui.