1. 40 senators seek to oust Srettha, Pichit: Forty senators have asked the Constitutional Court to rule on the status of Prime Minister Srettha Thavisin and PM’s Office Minister Pichit Chuenban after the latter was appointed as a minister in the recent cabinet reshuffle.
  2. China ramps up Thai EV production: Electric vehicle manufacturers from the mainland to significantly increase their output in Thailand this year. More electric vehicles (EVs) sold in Thailand should be locally manufactured this year as Chinese automakers plan to produce them here from the third quarter, sourcing local materials to support their manufacturing, says the Board of Investment (BoI).
  3. Government will proceed with its plan to auction off the rice from Yingluck’s pledging scheme that had been stored in two warehouses in Surin for 10 years, after a lab test result showed that the rice is still safe for consumption.
  4. Thai General Insurance Association voiced concerns over price war on EV insurance as expensive parts and high repairing costs exceed sum assured.
  5. 1Q24 GDP at 1.5% beats 0.8% survey, fueled by tourism and private consumption, +6.9%, may have eased urgency for rate cut
  6. Steps lined up to revive bourse: Long-term equity funds are targeted. Fetco, the AIMC, and the SEC are to finalise details of a plan today they plan to propose to the Finance Ministry for its consideration. Three capital market organisations will meet today to reach a final conclusion on the tax-deductible funds they want to propose to the Finance Ministry, hoping to revive investments in good fundamental stocks in the Thai stock market. The Federation of Thai Capital Market Organizations (Fetco), the Association of Investment Management Companies (AIMC) and the Securities and Exchange Commission (SEC) are set to finalise the details of the package for the ministry’s consideration, especially investment conditions for long-term equity funds (LTFs). Bangkok Post
  7. The FTI said TH is poised to become a key export hub, after the US recently imposed very high tariffs on Chinese products, notably EVs and semiconductors, which will cause China to concentrate on expanding its EV manufacturing within Asia.
  8. Banking sector NPLs edge up in Q1: Credit cards posted the largest gain. The Bank of Thailand reported higher non-performing loans (NPLs) for the banking industry in the first quarter this year, attributed to all types of loan products amid an uneven economic recovery.
  9. Asset managers post mixed results: Two bad asset management companies reported lower net profits in the first quarter this year, attributed to higher expected credit losses (ECL) amid a fragile economic recovery.
  10. FPO urges beefing up service sector: Thailand needs to increase revenue from the service sector to bolster economic growth, according to an economist. Kawin Lamtrakul, an economist at the Fiscal Policy Office (FPO), said the service sector is considered a major driver for Thailand, accounting for more than 60% of GDP and employing more than half of the workforce. In 2023, the service sector grew by 4.3% from the year before, beating the GDP growth rate of 1.9% last year.


  1. Weak response to BoT debt scheme: Regulator to consider programme rejig. The Bank of Thailand plans to ramp up its debt solution programme for instalment loans after no new participants joined its recent initiative. Bangkok Post
  2. Car manufacturing target for 2024 poised to be trimmed: The country’s car manufacturing target for 2024 may be downgraded as production continues to dip, with a sluggish economy affecting car sales, according to the Federation of Thai Industries (FTI). Earlier this year, the FTI set the production target at 1.9 million cars, a year-on-year increase of 3.15%, with 1.15 million for export and 750,000 for domestic sales. In April, total car manufacturing decreased by 11% to 104,667 units, especially in the pickup segment, which plunged 45.9%, while the passenger car segment decreased 5%. Bangkok Post
  3. Thai banks record 1.2% loan growth: Mr Aphinant says Kiatnakin Bank tightened loan expansion across all business segments, comprising retail, SME and corporate. The Thai banking industry reported marginal loan growth for the first four months of this year, thanks to tighter loan criteria amid a sluggish economy. As of April 2024, the 10 SET-listed banks reported net loans of 13 trillion baht, an increase of 1.2% year-on-year and 0.4% from the end of 2023, according to Kasikorn Research Center. Bangkok Post
  4. Thai exports grew 6.8% in April as global inflation eased, rebounding from a March shipment downturn.: Imports increased by 8.3% last month. Thai exports rebounded to growth in April, following a sharp 10.9% decline in March, driven by the improving global economy and an easing of the average inflation rate worldwide. The Commerce Ministry reported yesterday customs-based exports expanded by 6.8% year-on-year in April to US$23.3 billion (834 billion baht), while shipments in the real sector (excluding gold, oil-related products, and weaponry) increased by 11.4%. Bangkok Post

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