October 9, 2020
Thai Enquirer Summary
Political News
Months after the opposition accused the government of embattled Prime Minister Prayut Chan-o-cha and the military of undertaking ‘Information Operations’ (IO), social media giant – Twitter, late last night came out to announce that it has unearthed 926 accounts which could be “reliably linked to the Royal Thai Army and was actively engaged in information warfare against the government’s political opposition.
Twitter uncovered a network of accounts “partaking in information operations” against prominent anti-government figures and opposition politicians.
Twitter said it had new data adding to its archive of information operations, with networks affiliating with Iran, Thailand, Cuba, Saudi Arabia & a previously disclosed network from Russia.
A total of 1,594 accounts were found globally and nearly 59 per cent of these belonged to the Royal Thai Army who were targeting the opposition. 2nd to Thailand was Cuba with 526 accounts 3rd was Iran with 104 accounts 4th was Saudi Arabia with 33 accounts 5th was Russia with 5 accounts
To take a look at the statement by Twitter please click
https://blog.twitter.com/en_us/topics/company/2020/disclosing- removed-networks-to-our-archive-of-state-linked-information.html
Political analysts are likely to say that this is going to be another issue that could trigger a higher number of people coming out to protest on October 14th when the students plan to undertake their protest that they hope would see as many as last major protest which had about 70,000 to 100,000 people attending at Sanam Luang (the students renamed the area into Sanam Rasadorn).
Yesterday the student leaders gathered to announce their plans for the rally
In the lead-up to a major anti-government rally scheduled for October 14, human rights lawyer Anon Nampa, one of protest leaders, announced to lead protesters to extend the mass rally for as long as it takes if the government refuses to give in to its demands.
Anon and student activists including Jutatip Sirikhan, president of the Student Union of Thailand (SUT), Panusaya “Rung” Sithijirawattanakul, leader of the United Front of Thammasat and Demonstration, Panupong “Mike Rayong”
Jaadnok and Jatuphat “Pai” Boonpattaraksa read out a statement announcing the reincarnation of the “Khana Rasadon” (the People’s Party) operated by the Free People and Free Youth Movements.
They also promised “a surprise” during the protest and that they will not to block the road when a motorcade carrying His Majesty the King is to pass through the area, on its way to the Temple of the Emerald Buddha, to preside over a ceremony to make presentations to monks who have completed high levels of Buddhist studies.
The group continued pressing for 3 demands including the resignation of Prime Minister Prayut Chan-o-cha, reform of the Monarchy and the opening of a special parliamentary session to rewrite the Constitution.
Following the group’s press conference yesterday (October 8), Anon took to his Facebook page saying that he had received a death threat from a man who threatened him if the group continued to offend the Monarchy.
Former Red Shirt leader who changed sides to join the government of Gen. Prayut, Suporn Atthawong, vice minister of the Prime Minister’s Office, claimed that ex- politicians, former MPs of a now-defunct party and current MPs who are government opponents were masterminds behind student-led rallies.
He also accused a former MP of the now-dissolved Future Forward Party of giving speeches in several provinces to stir up anti-government sentiment and being behind the mobilisation of crowds to join student rallies in Bangkok.
Suporn said he received information that that opponent MPs have paid for travel expenses for protesters from the provinces to join the planned major rally. Suporn said however these MPs failed to enlist supporters because many locals decided not to join the planned rally because they realised that the rally is not about calling for democracy but targeting the Monarchy.
He is currently compiling evidence to support his claim for ex-politicians and opposition MPs who are behind the anti-monarchy movement for authorities to take legal action against them.
Meanwhile, the 1992 May Heroes Relatives Committee ramped up pressure on the Democrat Party to withdraw from the coalition.
At the Democrat Party, committee chairman Adul Khieuboribun and around 20 committee members submitted a letter to Deputy Prime Minister and Commerce Minister Jurin Laksanavisit, as the Democrat Party leader, to take the Democrat Party out of the coalition to pave the way for a selection process for a new prime minister as a way to resolve the current political impasse.
Adul said he was deeply concerned by the student-led rally scheduled for October 14 in which protest leaders are calling for monarchy’s reform.
Adul said his groups supports student leaders’ demands for the resignation of embattled Prime Minister Gen Prayut Chan-o-cha but without touching on the Monarchy.
Adul said it is now time for the Democrat and Bhumjai Thai parties to remove themselves from the coalition to pave the way for a new government to be installed.
On the charter amendment issue, senators still refused to back calls for an amendment of Section 256 to allow a new constitutional drafting panel to be formed. This could derail the entire process seeking to amend the constitution, Natchanon Srikorkua, a Bhumjaithai MP from Songkhla as secretary of the House committee assigned to study charter amendments, revealed.
Natchanon said the Senate viewed that amendment of Section 256 is to allow the country to enact an entirely new constitution, not just section-by-section changes.
The committee is set to hold a 3-day meeting from October 14 to 16 to discuss progress on charter amendment motions.
On local elections, Deputy Prime Minister Wissanu Krea-ngam has hinted at the possibility that provincial administrative organisation (PAO) elections and a national referendum on charter changes could be held at the same time to save money.
Wissanu’s comment came following concerns that local polls could be delayed again if they clash with a referendum on charter amendments.
Concerns were raised as the EC had noted that polling would be around 60 days away from another vote so that the EC is able to organise elections properly.
Ex-army chief Gen Apirat Kongsompong is reported to enter a monastery for 1 month at the Wat Hong Rattanaram Temple in Bangkok. He was ordained a monk in the presence of relatives and friends, as well as military officers and police officials.
The spectrum of conflict between Phalang Pracharat Party (PPRP) MP Sira Jenjaka and Bangkok governor Pol Gen Aswin Khwanmuang appears to keep deepening as the House committee on laws, justice and human rights chaired by Sira announced plans to summon the Bangkok Governor, Bang Khen Police superintendent Pol Col Atthaphol Meeseung and Bang Khen District chief Sombut Worasinwattana to explain a violent brawl recently broken out at Por Kung Pow Restaurant near Laksi-Saphan Mai on Theparak Road.
The Sira-headed committee resolved to invite the 3 figures to give their statements in relation to the incident. Sira related the incident to the fact that illegal pubs, bars and night entertainment venues have been allowed to open without licenses. He wants to hear details of the incident and an explanation from Pol Gen Aswin.
Interestingly, the move came after Sira came out to call for Assawin to step down as Bangkok governor.
The National Anti-Corruption Commission (NACC) revealed the assets and liabilities of 3 cabinet ministers after being dropped from the cabinet in July 2020 including former inance minister Uttama Savanayana, former energy minister Sontirat Sontijirawong and former labour minister Chatumongol Sonakul.
According to a report released by the NACC yesterday (October 8), Uttama had 230,823,088 baht; most of his assets are bank deposits. Uttama reported total assets of 223,866,935 baht prior to taking office at the Finance Ministry portfolio on July 16, 2019. He sees an increase of assets since taking office by more than 7 million baht.
Sontirat had 158,183,198 baht worth in assets including 93 million baht worth of investments and 68 lists of assets worth 60.6 million baht. Sontirat saw about 9 million baht more than 149,131,970 baht he declared on assuming the cabinet post.
Chatumongol Sonakul had 462,446,853 baht in assets in July 2019, about 41 million baht more than the 421,391,723 baht declared earlier.
Economic News
Dhanin Chearavanont, senior chairman of Charoen Pokphand Group (CP), urged the government to issue a 30-year bond to provide liquidity to Thai business as he pointed that the Thai economy cannot survive a prolonged virus crisis by relying on government economic stimulus measures and tax rebate schemes to stimulate domestic spending alone.
Dhanin suggests issuance of a 30-year bond to provide 10 trillion baht to revive the economy.
The opening up of the country to international tourists amid restrictions on travel and limitations on government stimulus measures are not enough to resuscitate the economy, pointed CP senior chairman as he pleaded the government to help SMEs.
Thai Airways International Plc (THAI)’s union urged THAI employees to wear black during 9.00-12.00 hrs today (October 9) at THAI head office in protest against the appointment of Ponguma Didyasarin, the wife of ACM Chaiyapruk Didyasarin, chairman of the board, as acting corporate social responsibility (CSR) director.
THAI’s union decried Ponguma’s appointment, perceived it as the lack of transparency amid the airline’s rehabilitation at the Central Bankruptcy Court. The union also opposed THAI’s financial commitment to its sister airline Thai Smile Airways.
Tada Phutthitada, president of the Thai Bond Market Association (Thai BMA), came out to call on the government to set up a corporate bond guarantee fund in order to rescue tourism-related industries that have been hit hard by the Covid-19 pandemic.
The fund may be set up by the government with a fund size of 50 billion baht, which would enable it to guarantee corporate bonds up to 125 billion baht, or 2.5 times, he said.
Tourism-related industries, such as hotels, could raise funds by issuing bonds with 3-year maturity and the guarantee fund will compensate investors when issuers default on payment, said Tada, pointing that 3-years maturity would be enough as tourism is likely to recover from the coronavirus outbreak.
In the first 9 months this year, companies issued bonds worth 540 billion baht. They are expected to raise funds via bonds for the rest of the year, said Tada, and forecast total corporate bonds worth 800 billion baht for this year.
Outstanding bonds in the first 9 months rose 5.09 per cent to 14.2 trillion baht from the end of last year. The issuance of government bonds contributed to the rise of outstanding bonds, but outstanding corporate bonds dropped.
The University of the Thai Chamber of Commerce (UTCC) reported yesterday that the consumer confidence index dropped to 50.2 in September from 51 in August, following readings of 50.1 in July, 49.2 in June, 48.2 in May and 47.2 in April.
"Overall consumers are increasingly worried about political stability after several political protests were held in September and the finance minister abruptly resigned," said Thanavath Phonvichai, the UTCC president. "People also fretted over the slow recovery of the economy and job-loss prospects. The prolonged outbreak also results in a negative impact on domestic purchasing power, tourism, exports and general businesses."
He said consumers are expected to slow their spending until the fourth quarter of this year or until the end of the crisis.
Foreign investor’s dumped Thai shares worth more than 276 billion baht over a 9-month period of this year, dragging down the Thai bourse to dip below the 1,300 mark at 1,237.04 points in September, down 25.8 per cent year-on-year, according to Stock Exchange of Thailand (SET) senior executive vice-president Soraphol Tulayasathien.
The combined net profits of SET-listed companies were forecast to stand at 613 billion baht this year and 785 billion baht next year, said Asia Plus Securities’ executive vice president of research Therdsak Thaveeteeratham. Listed companies’ profit next year to average 72.51 baht per share from 56.65 baht per share this year, as the quarterly profit is expected to bottom out since the second quarter of this year.
Therdsak expected the SET to hit 1,450 points next year and 1,526 points if the Bank of Thailand’s Monetary Policy Committee cut the interest rate 1 more time this year.
“The positive sentiment that would help boost the SET is high liquidity of 15.5 trillion baht, higher than the index market capitalisation of 13 trillion baht. According to previous statistics, the cash is likely to flow into the index when the deposits are higher than the index market capitalisation, especially when the interest rate is likely to stay at a low level for 1-2 years because the return on deposit was not high,” he said.
He also predicted that foreign funds would likely return to the market after they continued selling until their shareholding in the Thai stock market fell to 25.8 per cent currently.
Today is the 1st day trade of NR Instant Produce Plc (NRF)
The Initial Public Offering was at 4.60 baht a share
Bualuang Securities initiated a coverage of this company with a ‘Buy’ rating and put a target price of 8 baht a piece for fiscal year 2021.
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General News
Thailand logged 7 new cases, all in state quarantine, as reported yesterday (October 8) by the Centre for Covid-19 Situation Administration (CCSA).
Among the seven new infections, five are Thais, including two women returning from Hungary and one each returning from the United Arab Emirates, the Netherlands and India.
A 61-year old American, arriving from the US, and a Kuwaiti woman arriving from Kuwait have also tested positive for COVID-19 while in quarantine.
Cumulative infections in Thailand, to date, are 3,622 while the number of recoveries has increased to 3,439, with 124 others still being treated in hospital. The death toll remains at 59.
Political News Headlines in Thai Media
Twitter revealed on Thursday that it had uncovered a network of accounts “partaking in information operations” against prominent anti-government figures and opposition politicians.
o Link- https://www.thaienquirer.com/19487/breaking-twitter-reveals-962-social- media-accounts-run-by-the-thai-army-to-discredit-political-opponents/
Germany is considering a proposal to halt free trade talks between the European Union and Thailand due to the Thai government’s undemocratic practices, according to debate within the Bundestag this week.
o Link- https://www.thaienquirer.com/19479/germany-considers-halting-fta- negotiations-with-thailand-over-suppresion-of-democracy/
Prayut Chan-ocha, is not listening to the demands of the pro-democracy protestors. Why should he? After all, in his mind, he is completely legitimate.
o Link- https://www.thaienquirer.com/19429/opinion-prayut-is-using-age-old-excuses- to-tarnish-the-students-reputation-because-he-fails-to-listen/
The pro-democracy activist group, “Free People”, gathered in Bangkok’s Sanam Luang on Thursday afternoon to officially announce details of the October 14 protest.
o Link- https://www.nationthailand.com/news/30395852?utm_source=category&utm_mediu m=internal_referral
A well-known whistle-blower unveiled another corruption case in the Army on Thursday after he was allegedly forced to falsely withdraw travel allowance in his own name.
o Link- https://www.nationthailand.com/news/30395850?utm_source=category&utm_mediu m=internal_referral
Former Army chief General Apirat Kongsompong went into monkhood on Thursday at the Hong Rattanaram Ratchaworawihan temple in Bangkok.
o Link- https://www.nationthailand.com/news/30395831?utm_source=category&utm_mediu m=internal_referral
A senator’s car, which was parked in a prohibited zone and blocked other people’s access to the area on Thursday morning, has won a lot of backlash on social media.
o Link- https://www.nationthailand.com/news/30395838?utm_source=category&utm_mediu m=internal_referral
Deputy Prime Minister Wissanu Krea-ngam on Thursday said it is possible to hold provincial administrative organisation (PAO) elections and a national referendum on charter amendments at the same time to save money.
o Link- https://www.bangkokpost.com/thailand/politics/1999043/pao-polls-charter- vote-can-be-held-simultaneously
Economic News Headlines in Thai Media
Shares of DELTA Electronics Plc (DELTA) rose by 11.45 per cent to 199.50 baht per share after Thursday’s morning session ended, an increase of 20.50 baht, making it the most active trading stock with a transaction value of 1,104.2 million baht.
o Link- https://www.thaienquirer.com/19472/delta-surges-sharply-as-market-sees- increase-in-cloud-products-demands/
Consumer confidence drop for the first time in five months because of rising political tension, the University of the Thai Chamber of Commerce (UTCC) said on Thursday.
o Link- https://www.thaienquirer.com/19468/consumer-confidence-drops-for-the-first- time-in-five-months-because-political-instability/
Thailand has been a victim of its own success in eliminating domestic Covid-19 infections and must find a way to balance the needs of the economy with virus prevention, the US ambassador to Thailand said while on a recent mission to the Eastern Economic Corridor (EEC).
o Link- https://www.bangkokpost.com/business/1999163/us-envoy-says-thailand-is-a- victim-of-its-success
An Energy Ministry news source revealed that Deputy Prime Minister and Minister Supattanapong Punmeechaow is planning to nominate ministry permanent secretary Kulit Sombatsiri as the new board chairman of PTT Plc to replace Krairit Euchukanonchai, who will turn 65 in December and therefore can no longer remain a board member of a state enterprise.
o Link- https://www.nationthailand.com/news/30395809?utm_source=category&utm_mediu m=internal_referral
The Government Housing Bank (GHB) is offering special housing loans to medical professionals as a way of thanking them for their dedicated work during the Covid-19 outbreak.
o Link- https://www.nationthailand.com/news/30395844?utm_source=category&utm_mediu m=internal_referral
The Centre for Economic Situation Administration on Thursday decided to extend the government’s “Rao Tiew Duay Kan” (We Travel Together) and “Kum Lung Jai” (Encouragement) stimulus packages to January 31, 2021.
o Link- https://www.nationthailand.com/news/30395840?utm_source=category&utm_mediu m=internal_referral
More than 200,000 retailers have registered in the “Kon La Khreung” (Let’s Go Halves) economic stimulus package and the number is expected to rise before the scheme kicks off on October 23.
o Link- https://www.nationthailand.com/news/30395833?utm_source=category&utm_mediu m=internal_referral
Bangkok governor Pol General Aswin Kwanmuang, accompanied by Bangkok Metropolitan Administration officials, visited the Bangkok Mass Transit System (BTS) Gold Line’s Krung Thonburi station on Thursday to check its progress.
o Link- https://www.nationthailand.com/business/30395858?utm_source=category&utm_me dium=internal_referral
Thai Smile Airways, a subsidiary of Thai Airways International, plan to fly on four new routes in the last quarter of this year, chief executive officer Charita Leelayudth said.
o Link- https://www.nationthailand.com/business/30395864?utm_source=category&utm_me dium=internal_referral
The Small and Medium Enterprise Development Bank of Thailand (SME D Bank) has joined forces with General Electronic Commerce Services (GEC) on improving SMEs’ e- commerce potential via The Hub Thailand platform to increase their market channels and revenue.
o Link- https://www.nationthailand.com/business/30395832?utm_source=category&utm_me dium=internal_referral
The international airport on the renowned tourist island is on course to receive at least 15,000 domestic passengers per day during the resort island's annual vegetarian festival from Oct 16 to 25, to generate about 200 million baht for the ravaged local economy.
o Link- https://www.bangkokpost.com/thailand/general/1998951/phuket-veggie- festival-spurs-airport-passengers
With the US presidential election fast approaching, geopolitics will remain a factor causing turbulence in stock and bond markets worldwide until early November, says the Stock Exchange of Thailand (SET).
o Link- https://www.bangkokpost.com/business/1999047/set-geopolitics-key-in- upcoming-market-activity
Fast Auto Show Thailand organisers expect used car trade will stand at 1.5 million transactions in 2020, a 5% dip from last year, but are still optimistic about a better outlook than for new car sales.
o Link- https://www.bangkokpost.com/business/1999035/used-car-traders-optimistic
The government's proposed "Shop Dee Mee Kuen" (Shop and Payback) scheme will boost the national economy only in the short term, according to the Kasikorn Research Centre.
o Link- https://www.nationthailand.com/news/30395867?utm_source=category&utm_mediu m=internal_referral
Issues to be watched out for
October, 2020 – The bidding for construction and operation for the 140-billion-baht Orange Line western extension linking the Thailand Cultural Centre with Bang Khun Non.
October 2020 – The Trade Competition Commission is set to rule on CP’s acquisition of Tesco Lotus’s Asia business in a deal worth US$10.6 billion.
October, 2020 – The Thailand Grand Prix was rescheduled after being postponed due to the coronavirus outbreak.
October 12, 2020 – Deadline for applications for the RECO Young Designer Competition hosted by Indorama Ventures Plc (IVL).
October 14, 2020 – A major anti-government rally by various groups led by the Democracy Restoration Group (DRG) at Democracy Monument. The same day marks the anniversary of the 1973 student uprising.
October 16, 2020 – Registration for the 3-month economic stimulus package called “Khon La Khrueng” (Let’s Go Halves) will open for some 10 million Thai nationals over the age of 18 through the www. คนละครึ่ง.com website.
October 21, 2020 – The House committee assigned to study charter amendment bills is expected to complete its study and submit its report to parliament on the next day.
October 23 -December 31, 2020 – 14 million welfare cardholders will receive an extra monthly discount of 500 baht on their shopping under the government’s economic stimulus package.
October 27, 2020 – The Central Bankruptcy Court is set for first hearings for Nok Airlines regarding the rehabilitation process.
October 28, 2020 – The Constitutional Court is set to rule on the fate of 64 parliamentarians from both government and opposition camps over media-shareholding cases. November 1, 2020 – The second batch of 120 foreign tourists issued with the Special Tourist Visa (STV) scheme from Scandinavian and Schengen countries on a Thai Airways International (THAI) flight and land at Suvarnabhumi Airport.
November 1, 2020 – The next parliamentary session will begin.
December 2020 – The Federation of Thai Industries (FTI)’s “Faster Payment” scheme to increase liquidity for small and medium-sized enterprises (SMEs) during the pandemic is set to end. December 20, 2020 – Tentative date for elections of Provincial Administrative Organizations (PAOs) in 76 provinces.
February 28, 2021 – Tentative date for municipality elections and the election of tambon administrative organizations (TAOs).
April, 2021 – The central bank plans to officially implement the new rule on the rate of penalty imposed on loan defaulters in a bid to ease borrowers’ burdens and motivate them to repay their debts. Key Data
SET Index 1,274.83 +11.12
Link - https://www.set.or.th/en/company/ipo/upcoming_ipo_set.html
Global Commodities
Metal -Link http://www.bloomberg.com/markets/commodities/futures/metals/
Energy -Link - http://www.bloomberg.com/energy/
Baltic Dry Index (BDI)-Link - http://www.bloomberg.com/quote/BDIY:IND
Global Equity Market’s Movements
Link - http://www.bloomberg.com/markets/stocks/world-indexes/asia-pacific/
Asian Equity Markets Movement
Link - http://www.bloomberg.com/markets/stocks/world-indexes/
Information on October 8, 2020
Buying, Selling or Transfer of shares by Owners/Management
Stock Code Volume Value Action
AIMIRT 40,000 13 Purchase ALT 28,605,000 3.5 Purchase ALT 28,605,000 3.5 Purchase BDMS 20,000 19 Purchase BLA 6,794,102 - Acceptance of Transfer BM 1,000 2.14 Purchase BAY 100 19.4 Sale
BAY 100 28 Purchase
Revoked by
Reporter CHG 100,000 2.37 Purchase CKP 1,294,800 4.94 Purchase CKP 578,500 4.92 Purchase CKP 687,000 4.96 Purchase CPW 200,000 2.7 Sale EP 150,000 3.84 Purchase LIT 5,000 3.26 Sale RCL 250,000 5.8 Purchase SYNEX 1,400 14.8 Purchase SYNEX 1,400 15.4 Sale TKN 2,000,000 12.14 Sale UTP 50,000 14.6 Purchase
XD, XE or XM or other notifications
For list of Companies that have dividend payment and AGM meeting schedules click on http://www.set.or.th/set/calendarofevents.do
Trading Breakdown on the Stock Exchange of Thailand
Daily as of 8 Oct 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 6,698.95 11.96 6,451.50 11.52 247.45 - Proprietary 8,119.50 14.5 6,959.92 12.43 1,159.58 - Trading Foreign Investors 17,993.21 32.12 18,622.17 33.25 -628.95 - Local Individuals 23,200.86 41.42 23,978.94 42.81 -778.08 - Monthly Cumulative between 1 - 8 Oct 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 34,185.46 11.27 31,244.41 10.3 2,941.05 - Proprietary 38,768.14 12.78 37,388.14 12.32 1,380.00 - Trading Foreign Investors 101,074.75 33.31 107,762.91 35.51 -6,688.16 - Local Individuals 129,415.03 42.65 127,047.92 41.87 2,367.11 - Yearly Cumulative since 1 Jan - 8 Oct 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 1,301,982.59 10.94 1,230,869.20 10.34 71,113.39 - Proprietary 1,243,901.65 10.45 1,240,210.46 10.42 3,691.19 - Trading Foreign Investors 4,180,180.94 35.11 4,464,543.09 37.5 - - 284,362.15 Local Individuals 5,178,488.09 43.5 4,968,930.52 41.74 209,557.58 -
Total Trading Value 56,012.52 Million Baht
Background Information –
The strength of each party in the Thai Parliament as of May 8, 2019 as per the report by the Election Commission of Thailand. Elections took place on March 24, 2019
https://www.ect.go.th/ect_th/news_all.php?cid=24
List of MPs - https://www.ect.go.th/ect_th/download/article/article_20190508184334.pdf
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