State firms set to spend 90% of funds: The head of the State Enterprise Policy Office is confident disbursement of state enterprises’ investment budgets will reach 90% of the total this year, after tallying 32% as of May. Enterprises using the fiscal 2022 year have until Sept 30, while those using the calendar year still have plenty of time for disbursement, said the office’s director-general Pantip Sripimol. Mrs Pantip said state enterprises regularly make major disbursements later in the year, meaning the low current disbursement rate was not a concern. Bangkok Post
KL Palm oil futures (Sept) -7% to US$960/ton after Indonesia announced an increased in export quota to reduce domestic supplies, negative UVAN, UPOIC, CPI, VPO, LST.
Committee revises up GDP growth forecast: The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has revised up its 2022 GDP growth forecast to at least 2.75%, up from 2.5%, but soaring inflation remains a wild card. GDP growth is estimated in a range of 2.75-3.5%, a slight change from the 2.5-4% predicted earlier, said Payong Srivanich, chairman of the Thai Bankers’ Association. But whether the economy will continue to revive will be determined by inflation, which is expected to stand at 5-7%, up from 3.5-5.5%. Exports are still the key economic engine, with expansion expected at 5-7%, up from 3-5%, according to the JSCCIB. Bangkok Post
Domestic market to reach a peak in Q3: Domestic tourism is expected to record the highest level of travel sentiment in the third quarter since the pandemic thanks to a shift towards an endemic approach and several long holidays, according to the Tourism Council of Thailand (TCT). Domestic tourism has kept up with positive signs as the number of local tourists planning their holidays is expected to reach a peak over the past two years, said Chamnan Srisawat, president of the TCT. Bangkok Post
Developers prep schemes to entice homebuyers: The possible extension of property incentives and the easing of the loan-to-value (LTV) ratio for another year to the end of 2023 will have a minimal impact on the market in the second half as developers try to prompt homebuyers with campaigns. Bangkok Post
NEPC okays extra LNG purchase: The National Energy Policy Council (NEPC) has approved a plan to buy an additional 1 million tonnes of liquefied natural gas (LNG) per year under a longterm purchase contract to relieve LNG price fluctuations, which affect national electricity generation costs. The longterm LNG procurement means more stable prices than those sold in the spot market. Bangkok Post
Central Admin Court (CAC) has ruled in favour of BKK Mass Transit System Plc (BTSC) in a dispute over the cancellation of bidding early last year for the right to jointly invest in a new section of the Orange Line from Bang Khun Non to Min Buri.
Pheu Thai mulls ‘offshoot’: Govt denies swaying party-list MP vote. Pheu Thai will consider setting up a smaller political party as its offshoot to secure party-list seats in the next poll after parliament voted for a new method of calculating the seats, widely seen as a move to stop it winning a landslide victory. Bangkok Post
BTSC hails ruling on cancelled bid: The Central Administrative Court (CAC) has ruled in favour of Bangkok Mass Transit System Plc (BTSC) in a dispute over the cancellation of bidding early last year for the right to jointly invest in a new section of the Orange Line from Bang Khun Non to Min Buri. Bangkok Post
Hoteliers deride government proposal for dual pricing: Hoteliers have expressed concerns about the government’s plan to set dual pricing for foreign tourists and locals, saying the move is “impractical” and demanding the administration roll out effective promotions to spur tourism sentiment in an effort to increase room rates. Bangkok Post