1. Court axes anti-Thaksin petition: Ex-PM ‘didn’t try to overthrow monarchy’ last Friday, the Constitutional Court dismissed a petition claiming that former prime minister Thaksin Shinawatra and the ruling Pheu Thai Party trie
2. Auto employment dips: Latest job cuts by Nissan Motor add to automotive sector’s woes. Employment in the automotive and auto parts industries as well as car financing services is declining as domestic car sales have been sluggish for months, with the latest job cuts by Nissan Motor, which operates production facilities in Thailand. Bangkok Post
3. New business registrations set to top 90,000 this year: The number of new business registrations this year is expected to exceed 90,000, driven by the rebound in exports and tourism as well as the government’s stimulus measures in the final quarter. Auramon Supthaweethum, directorgeneral of the Department of Business Development (DBD), said new business registrations for the first 10 months of 2024 rose by 2.18% year-on-year to 76,653. Bangkok Post
4. Michelin vows to expand its investment in TH, hoping to benefit from Government’s EV promotion policy despite weak domestic demand, planning to increase its production capacity and investment here over next 3 years.
5. Government mulls injecting Bt11b to village funds nationwide 1Q25 as part of plan to boost domestic demand.
6. Energy Regulatory Commission (ERC) will announce qualified bidders for 2,180mw renewable PPA (wind 600mw & solar 1,580mw) on Dec 16, aims to allocate 2k mw Direct PPA under Third Party Access (TPA) scheme early next year to accommodate electricity demand from data center.
7. NESDC raised concerns about rising trend of consumer loans, fearing it could lead to a debt trap where people were forced to take new loans to repay existing loans, after reporting a 1.3% yoy rise in household debt in 2Q24 to Bt16.3trnl.
8. Chinese firms prep Bt90bn outlay: Move prompted by fears of US tariff. Chinese firms plan new investments of 90 billion baht as they fret over the US plan for tariffs on China’s exports, says the BoI. Chinese entrepreneurs are expected to make new investments worth 90 billion baht as they are increasingly concerned about the impact of the incoming US president’s plan to impose high tariffs on Chinese exports, says the Board of Investment (BoI). Bangkok Post
9. Car output target cut to 1.5m: Domestic sales remain torpid. The car manufacturing target for 2024 has been cut to 1.5 million vehicles down from 1.7 million, according to the FTI. The total car manufacturing target for 2024 has been reduced to 1.5 million vehicles down from 1.7 million, which is the lowest target seen since 2021, as car sales in the domestic market remain torpid, following banks’ stricter criteria in the granting of auto loans, says the Federation of Thai Industries (FTI). Bangkok Post
10. BYD’s Oct new-car sales in TH -66% yoy following a 58% drop in Sept; JPN aggregate share rebounded to 75.3% vs 73% yoy thanks to contribution from HEVs from Toyota & Mitsubishi. Isuzu’s pickup truck -41.3% yoy caused by lackluster economy & stringent credit approval.

Bonus 9

1. Medical costs in Thailand surge: Consultancy pleads for cooperation. Medical costs in Thailand, which have been skyrocketing since 2020, are projected to increase by another 15% next year, requiring sustainable solutions and joint efforts from individuals, the private sector and the government, say analysts. Bangkok Post
2. A rapid uptick in October has government officials projecting 4% export growth this year, up from an estimate of 1-2%.: October tally was a 19-month high. Thai exports this year could grow by 4%, exceeding the target of 1-2%, thanks to the economic recovery of key trading partners and relaxed global monetary policies. Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office (TPSO), said exports in October increased by 14.6% to US$27.2 billion (897 billion baht), marking a fourth consecutive month of growth. Bangkok Post
3. BoT says banking system is hardy: The banking system remains resilient with robust levels of capital, loan-loss provisions and liquidity, according to the central bank. The latest Bank of Thailand statement revealed in the third quarter of 2024 loan growth in the banking system contracted by 2.0% year-on-year, attributed to high levels of debt repayments, particularly from the government and large corporations. Bangkok Post
4. SET changes trading resumption rules: The Stock Exchange of Thailand (SET) has revised trading resumption criteria for listed companies on both the SET and the Market for Alternative Investment (MAI), requiring those firms to have a higher amount of shareholders’ equity and net profit over the past year. The trading resumption criteria for listed companies under a delisting review takes effect from the beginning of 2025, aligning with new listing standards, the bourse said in a statement yesterday. Bangkok Post
5. Public debt-to-GDP ratio is expected to hover ~63% at end of current fiscal year on better-than-expected economic expansion, 3% in 3Q, said Public Debt Mngt Office. It was 63.28% at end Sept.
6. PP won’t join Sondhi rally: Wants to work ‘within the system’. The main opposition People’s Party (PP) announced yesterday it would not take part in former protest leader Sondhi Limthongkul’s planned antigovernment protests, saying it would work within the parliamentary system to fulfill its role. Bangkok Post
7. Foreign e-commerce platforms ‘must register locally’: All e-commerce platforms in Thailand operated by foreign companies will be required to register their businesses and open a formal office in the kingdom as part of the government’s effort to curb the influx of cheap, low-quality products into the country, the Ministry of Commerce said yesterday. Bangkok Post
8. Car trade-in deemed insufficient: New measures called for to end sales slump. The Industry Ministry’s plan to launch a car trade-in programme is meant to revive domestic car sales, but car manufacturers and industry observers say it may not be enough, requesting more new measures to end the long slump. Bangkok Post
9. Energy Regulatory Commission agreed to lower electricity rates marginally to Bt4.15/unit from Bt4.18, from Jan-April 2025.