1. SME fund bill bound for cabinet. The Finance Ministry will seek cabinet approval to require financial institutions to contribute 0.001% of their deposit base to a fund tasked with promoting small and mediumsized enterprises (SMEs). A legal amendment is needed for the contribution requirement and the fund is expected to receive Bt100mn in contributions if the change takes effect, said an informed source at the Finance Ministry (Bangkok Post, 15/10/18)
  2. Magazine, newspaper ad revenues take a beating. Total advertising expenditure in local media in September dropped 2.39%YoY to Bt8.67bn, with magazines and newspapers showing the biggest decline in ad spending, according to a survey by Nielsen (Thailand). (The Nation, 16/10/18)
  3. Inflow surge breathes life into industrial land sector. Growing foreign investment in the industrial sector has boded well for industrial parks and factories for rent but the uncertain outlook for global trade means improvements will likely be slow. The net flow of foreign direct investment into the Thai manufacturing sector surged by 932%YoY, according to the Bank of Thailand. (Bangkok Post, 17/10/18)
  4. State project spend up 60%. State enterprises’ investment budget disbursement for the eight months through August surged 60% from a year earlier, thanks largely to accelerated investment of large projects and PTT Group, says the chief of the State Enterprise Policy Office (Sepo). (Bangkok Post, 18/10/18)
  5. Provincial mass transit projects expedited, think tank in limbo. The government is revving up construction of mass transit projects in Phuket, Chiang Mai, Nakhon Ratchasima and Khon Kaen, worth a total Bt194.29bn. (The Nation, 18/10/18)
  6. Revenue aces 2018 target. The Revenue Department gathered Bt1.92trn in tax revenue for the fiscal year, which ended Sept 30, outpacing the target by Bt46.7bn or 2.5% and rising Bt123bn or 7%YoY, said director-general Ekniti Nitithanprapas. (Bangkok Post, 19/10/18)
  7. FTI bullish on car output despite dip. The Federation of Thai Industries (FTI) remains optimistic about the country’s car production hitting 2 million units this year, though output in September dropped for the first time in 15 months. The FTI’s automotive industry club reported yesterday that output last month fell by 3.7%YoY to 183,191 vehicles. (Bangkok Post, 19/10/18)
  8. U.S. government posts widest deficit since 2012. The U.S. government closed the 2018 fiscal year US$779bn in the red, its highest deficit in six years, as Republican-led tax cuts pinched revenues and expenses rose on a growing national debt, according to data released on Monday by the Treasury Department. (Reuters, 16/10/18)
  9. US, EU leaders boycott Saudi meeting. US Treasury Secretary Steven Mnuchin and senior ministers from Europe on Thursday pulled out of an investment conference in Saudi Arabia, deepening the kingdom’s isolation amid an uproar over the disappearance of journalist Jamal Khashoggi. (AFP, 19/10/18)
  10. Despite “big gaps”, UK and EU talk up Brexit prospects. Prime Minister Theresa May and other EU leaders voiced renewed confidence on Thursday they could secure a Brexit deal, saying they were working hard to overcome the hurdles that only days ago brought the talks to a halt. (Reuters, 19/10/18)
  1. Khun Pon, will you be commenting on the Thailand Future Fund. ? Yield is expected between 4.75-5.30% for 1st year. Good; provided one can be assured that it will hold its trading value. Thanks.

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