1. Civil Aviation Authority of Thailand (CAAT) is looking to increase the number of seats on commercial flights to and from India by 7K/week as part of PM’s policy to promote TH as a regional aviation hub to boost tourism.
  2. Dept of Mineral Resources said TH possesses >30 trnl tons of >40 mineral types with as estimated value of Bt44,410 trnl, including lithium, quartz, potash, and perlite.
  3. S&P Global Ratings says it would keep its stable outlook for Thailand’s sovereign rating with the digital wallet scheme.: S&P Global Ratings says it plans to maintain its stable outlook for Thailand’s sovereign ratings even if the country implements the digital wallet scheme. The rating agency advised the Thai government to balance social spending with fiscal prudence. The proposed digital wallet handout will benefit certain segments of the population and increase domestic consumption, Kim Eng Tan, managing director of sovereign ratings for AsiaPacific at S&P Global Ratings, said at a seminar in Bangkok on Thursday. Bangkok Post
  4. Cabinet approved Bt2k living allowance payout for government official & civil servants whose salary is <Bt14,600/month, effective back from May 1, also approved tax wavier on severance pay for those impact from contract termination.
  5. Unwelcome rebirth of zero-dollar tours: Group points finger at foreigners. The scourge of zero-dollar tours has returned with even lower prices, targeting inbound tourists from China, Russia and India. This trend has begun to ravage the tourism industry because of the poor quality of the tours, leaving licensed Thai operators unable to compete, said Sisdivachr Cheewarattanaporn, president of the Association of Thai Travel Agents (Atta). Bangkok Post
  6. SET to enact uptick rule as of July 1: The Stock Exchange of Thailand (SET) has confirmed it will proceed with implementing the “uptick rule”, a measure aimed at regulating short-selling transactions across all securities. Effective from July 1, the rule is designed to curb market volatility and prevent abrupt declines in stock prices. The SET index rebounded slightly yesterday following the rule announcement. While short-term political uncertainties have eased somewhat, the medium-term market outlook remains gloomy, according to analysts. Bangkok Post
  7. PTTGC to turn Thailand into petrochemicals hub: PTT Global Chemical (PTTGC), the largest petrochemical producer in Thailand by capacity, aims to jump-start a downbeat industry by transforming the country into a high-value speciality petrochemical production hub in Southeast Asia. The slowdown in the global petrochemical market has resulted from higher supply from new production facilities in East Asia and the Middle East, as well as the impact from the US-China trade war, causing Beijing to reduce petrochemical exports to the US and focus on sales in Asia. Bangkok Post
  8. Alibaba rumoured to dump Lazada: Intense competition in e-commerce sector. An industry source familiar with Alibaba and the e-commerce industry says the company is in talks with Central Group and Charoen Pokphand (CP) to sell its stake in Lazada Thailand, following intensifying competition in the local market. Bangkok Post
  9. A closer look at the new energy plan: Authorities are expected to forward the scheme for approval, but some companies think it doesn’t go far enough to meet climate goals. The revised version of the power development plan (PDP), which went through a week-long public hearing ending on June 19, is ready to be forwarded for approval by energy authorities, who expect to implement the plan within this year. The plan is expected to pave a clearer path for Thailand to shift towards cleaner energy, central to government efforts to cut carbon dioxide emissions. Bangkok Post
  10. Government’s net revenue collection for 1st 8M fiscal 2024 was 1.5% below its target.

Bonus 3:

  1. Fitch slashes assessment for banking sector to neutral: Fitch Ratings has downgraded the outlook for the Thai banking sector to neutral from improving, citing a subdued pace of economic recovery that is likely to constrain earnings growth. Bangkok Post
  2. Asia Plus Securities urges the Finance Ministry to reintroduce long-term equity funds to resuscitate the Thai bourse.: Excise tax cut for diesel, gasoline. Government revenue collection for the first eight months of fiscal 2024 totalled 1.68 trillion baht, according to the Fiscal Policy Office. The government’s net revenue collection for the first eight months of fiscal 2024 was 1.5% below its target. According to Pornchai Thiraveja, director-general of the Fiscal Policy Office, the government’s revenue collection for fiscal 2024, from October 2023 to May 2024, totalled 1.68 trillion baht, which is 26.2 billion or 1.5% less than the target. Bangkok Post
  3. K-Research said the local industrial sector requires restructuring as manufacturing is likely to sag again this year.: MPI likely to shrink again this year. Kasikorn Research Center (K-Research) predicts Thailand’s Manufacturing Production Index (MPI) will contract by 2% this year, marking the second consecutive year of decline. The research unit urged the government to expedite a major restructuring of the industrial sector. Bangkok Post

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