August 27, 2020
Thai Enquirer Summary
Political News
In yet another bold move, the ‘Free People’ movement or what is called as the Thailand
Student movement under the “คณะประชาชนปลดแอก” has come out to say that they are
disappointed by the moves announced by the Pheu Thai party for not supporting the moves to scrap the various articles in the current constitution that gives the power to the 250 appointed Senators to make the choice for the Prime Minister and the future governments.
The statement by the ‘Free People’ that has lead the student movement that has gripped the nation’s young generation said that Pheu Thai party has resorted to the same old politics and not listened to the voice of the people.
These were the strongest statement against the Pheu Thai party by the movement that has so far targeted the government and its coalition partners so far.
The statement came early last morning after on Tuesday evening the Pheu Thai party and the Kao Klai party split in their views about how to go about amending
the constitution that has been a bone of contention ever since it was put in place in 2016.
The Kao Klai says that it wants articles from 269-272 that should be amended immediately in order to switch off the Senate to participate in future selection of Prime Ministers
The Pheu Thai says that it should be the Constitution Drafting Committee that should be decide
Pheu Thai wants to amend article 256 as a priority
Pheu Thai says that it wants to ‘switch off’ the senate and has been the most impacted from the Senate but there are issues related to amending the other articles and amending the 256 is therefore the priority.
Statement by the ‘Free People’ on their Facebook page
Meanwhile embattled Prime Minister Gen Prayut Chan-o-cha’s photos taken with student representatives participating in a mobile cabinet meeting in Rayong province yesterday (August 26) with went viral on social media after some students flashed a 3-finger salute, a symbolic gesture against dictatorship, behind the Prime Minister.
Reports said Gen Prayut grinned for the camera without realising that someone was making such a symbol behind him.
Gen Prayut later came out to issue a stern warning to protesters demanding his resignation that the nation would be engulfed in flames. Their action would instigate deeper divisions that could cause the collapse of the country. The Prime Minister said he is sick of being branded a “dictator”.
“If we want to overcome each other politically, the nation will collapse,” Prayuth told reporters.
“If that happens, just wait, everybody will be on fiery land, engulfed in flames.”
“Why did I have to come? Have you all forgotten? Don’t forget it so soon and things have all improved since I took over.”
Read the story from Reuters on this issue by clicking on https://www.reuters.com/article/us-thailand-protests-idUSKBN25M0YQ
The parliament is scheduled to debate hot issues next month.
The House and Senate joint sitting has set to debate 3 national reform bills on September 1, according to Pheu Thai MP for Nan Chonlanan Srikaew.
A general debate without a vote under Section 152 as a result of the opposition Pheu Thai Party’s request is set to be held on September 9. Out of 15 hours in total set for the debate, the opposition will receive 10 hours for the general debate and the rest for government MPs.
The House’s special committee studying constitutional amendments will submit its study results to the House on September 10.
The House has scheduled a 3-day debate during September 16-18 to debate the 3.3-trillion-baht fiscal 2021 budget bill.
Also the Senate is scheduled to deliberate the fiscal year 2021 budget bill during September 21-22 before the House goes in recess on September 24.
On the Royal Thai Navy’s contentious 22.5-billion-baht submarine procurement scheme, the House Budget Scrutiny Committee which was set to discuss of the controversial project agreed to postpone its discussion on the controversial procurement scheme until August 31.
There are reports of an attempt by government MPs to lobby MPs in the committee to vote in support of the procurement.
It is said that not long after the House’s meeting took place at 10.00 hrs yesterday (August 26), Deputy Finance Minister Santi Promphat, as the committee’s chairman, ordered the meeting to take a break and held a side-line meeting with leaders of the coalition parties including the Bhumjai Thai and Democrat parties while government chief whip Wirat Rattanaset sought private discussions with Thanathorn Juangroongruangkit, who is the committee’s advisor under the Kao Klai (Move Forward) Party’s quota, and Pheu Thai MP Yutthapong Jarassathian who threatened to vote against the scheme
Meanwhile, the Democrat Party now shows a reluctant stance on its pledge to vote against the scheme as party leader Jurin Laksanavisit came out to say that his party has yet to reach a resolution to reject the navy’s procurement plan. Jurin’s remarks contradicted some Democrat MPs who are the committee’s members who earlier pledged to vote against the procurement plan in the second and third readings.
Jurin said his party has not gone that far to reject the scheme as everything is still under the budget scrutiny committee’s consideration. He said he believed everything has a way out. The issue rests with the committee.
While Yutthapong said the committee’s meeting has been postponed with no apparent reason, Santi said the Committee has agreed to postpone discussion of the controversial project until August 28 to allow time to gather more information. Santi said he plans to summon the navy to provide more information prior to a vote on the same day.
Santi stressed that the navy’s plan to procure 2 Chinese-made submarines at an estimated cost of 22.5 billion baht cannot be scrapped because it was approved, in principle, in accordance with the 2020 Budget Act. However, it can be postponed or delayed.
Akaradet Wongpitak, the Democrat Party MP for Ratchaburi, as the budgte scrutiny committee’s spokesman, warned that 7 committee members of the Democrat Party would abstain from voting or stage a walkout to emphasize the party’s stance against the procurement if the key coalition party continues its push to support the procurement project.
Thailand also in process of procuring 600 TATA trucks for the use by the military so says the Thai ambassador to India in his latest Tweet
https://twitter.com/Chutintorn_Sam/status/1298267711802208257
The royalist Thai Pakdee group led by former Democrat MP Warong Dechgitvigrom announced a planned rally this Sunday (August 30) to protest against alleged intimidation by the Free People and Free Youth movements. He has yet decided on the rally venue.
In his Facebook post, Warong said his group will no longer tolerate intimidation by anti-monarchy elements which he claimed that have been threatening movie stars and members of the media who oppose their ideology.
He invited the public and royalists to come together to no to intimidation and to come out to protect the nation, the religion and the King.
Two student activists were arrested yesterday (August 26) afternoon on charges related to an anti-government rally they organized on July 18.
The 2 latest activists nabbed by police were Tattep “Ford” Ruangprapaikitseree and Panumas Singprom, according to Yaowalak Anuphan, head of Thai Lawyers for Human Rights group. Tattep was taken into custody in front of his residence in Bangkok while Panumas was detained while he was on a roadside. They are arrested for sedition under Article 116 of the Criminal Code for their roles in the anti-government rally at the Democracy Monument on July 18, which sent off a wave of rallies across the country.
Both activists were taken to Samranrat Police Station to hear their charges. Tattep and Panumas were released on bail and deny the charges, according to their lawyer.
There are reports that the Ministry of Digital Economy and Society (DES) now wants to obtain court removal orders relating to 1,024 more URLs including 661 Facebook links, 289 YouTube links, 69 Twitter links and other social media sites, minister Buddhipongse Punnakanta told reporters.
Thailand is pushing for the removal of 1,000 online posts, videos and other content that “breaks the law”, Buddhipongse said.
We have not violated anyone’s rights but if they break the law they will face legal action,” he said.
Buddhipongse denied that the “Royalist Marketplace” webpage was removed for political reasons, saying that the ministry must protect Thailand’s cyber sovereignty.
The DES Minister has reportedly said he does not believe Facebook will take legal action against the government and the DES Ministry in relation to past legal requests since the platform has cooperated well with previous requests.
Key former Pheu Thai Party figure Watana Muangsook and 14 others in connection with a state housing project, the Baan Eua-Arthorn housing project for the poor, in which they were accused of malfeasance by anti-corruption officials are set to hear the verdict by September 24th.
Watana is accused of committing malfeasance while on duty.
The Supreme Court’s Criminal Division for Holders of Political Positions said it has completed final inquiries into witnesses and has set September 24 for a verdict in the case.
Economic News
Prime Minister Gen Prayut Chan-o-cha yesterday (August 26) pledged to reopen the country to welcome foreign tourists. The Prime Minister said the return of foreign visitors would begin with only a limited number of arrivals, to test the government’s disease control measures.
The Prime Minister agreed that Thailand should open the door in a limited way to foreign tourists so as to improve the economic situation and affirmed his government will do all it can to ease the economic difficulties caused by the pandemic.
The Prime Minister said Thailand needs to attract foreign tourists back and have a welcoming system of disease control in place so local people can start earning money again. He said there will be forms to fill in. Flights must be traceable. When they reach their destinations their whereabouts will have to be confirmed and they will be isolated from others.
The proposal came amid growing calls from the state and private sectors.
Tourism and Sports Minister Phiphat Ratchakitprakan was assigned by Deputy Prime Minister Anutin Charnvirakul to chair a meeting on the topic “Safe & Sealed Area for Tourism” at Government House today (August 27).
In line with Gen Prayut’s proposal to open up its borders to foreign visitors, Finance Minister Predee Daichai said his ministry is seeking additional measures to promote the tourism sector.
Speaking at an online business event hosted by the Stock Exchange of Thailand, on the topic “Navigating through Global Uncertainties: Thailand’s opportunities for transformation” at Thailand Focus 2020: Resiliency to Move Forward”, the Finance Minister believed that the Thai economy has passed the lowest point in the second quarter. He is confident that the economy will pick up in 2021 with 4-5 per cent growth.
Predee stressed that the government is focusing on prioritizing the relief and rehabilitation measures for the people and business sector and speeding up budget disbursement and necessary policies to accelerate an economic recovery.
His ministry mulls a raft of additional measures to spur tourism.
In a move that could impact some of the listed companies in the tire manufacturing sector, the US Department of Commerce's new anti-dumping investigation on tires exported from Thailand to the American market is believed to result from the US-China trade war, as some exporters are Chinese factories relocated to Thailand, says the Federation of Thai Industries (FTI).
Kim Eng Securities said in a note to their clients that the investigation begun on July 26th this year and determination is set on the November 9th. Other countries included in the investigation are South Korea, Taiwan and Vietnam.
Thailand exports more than 20 million auto tires annually - passenger vehicle & light truck (PVLT). The US is its largest market (47.54 per cent in 2019). The alleged dumping margins are between 106 per cent and 218 per cent for Thailand. The 2019 US imports of tires from Thailand were valued at $2.7 billion (1.1 per cent of total Thailand’s exports).
Kim Eng says that Thailand has 7-8 tire factories, mostly located in the Eastern Economic Corridor. Five of the factories moved from China to Thailand, and three of these primarily export tires. The other two plan to begin exports soon.
Chinese companies use Thailand as an export base for products ranging from tires, processed food and other rubber products.
VGI Plc (VGI)’s share price hit the ceiling with a 14.29 per cent gain after Kerry Express Thailand Ltd announced an initial public offering (IPO) of up to 300 million IPO shares to the public.
VGI achieved the highest closing price at 6.80 baht, up 0.85 baht or 14.29 per cent, from 6.05 baht at the opening price, in heavy trade worth 767.91 million
baht. The price increase reaching the ceiling immediately after Kerry confirmed its IPO filing on the Stock Exchange of Thailand (SET).
Analysts said VGI shares benefit from the launch of an IPO by Kerry because it has 23 per cent shares in Kerry.
Performance of shares of VGI over the past 3-months.
For those who have not paid their property taxes, well you have just a few more days to pay or else face a 10-40 per cent penalty over the stated amount.
The property taxes were delayed until August 31st 2020 from January this year due to all the confusion and the taxes were reduced by 90 per cent of the original value due to the Coronavirus issue.
New business registrations fell again in July, with the figures down 12 per cent year-on- year from the same month last year, with combined registered capital worth 16.714 billion baht, down 27 per cent.
On a monthly basis, business registrations fell 1 per cent from June to 5,667, according to the Business Development Department’s report, citing the business sector’s concerns about a second wave of the virus.
The top 3 sectors for new business registrations in July were building and construction (576), real estate (246), and logistics, transport and delivery services (172).
The top 2 sectors remain unchanged from the previous month but No.3 changed since May from restaurants and food outlets, said Sorada Lertharpachit, deputy director-general of the department.
The Treasury Department plans to develop housing projects for government officials in prime locations of the central business district (CBD) of various provinces.
The department plans 7-storey condo projects containing 76 rooms. Each unit will be around 44 square metres, with a selling price marked at 999,999 baht, said director-general Yuthana Yimkarun.
Initially, the department has chosen its plots in Bangkok’s prime areas to develop its project such as a plot located along Sukhumvit Road near Bang Chak BTS station, a plot along Rama 3 Road near Klong Toey MRT station, a plot on Phetchaburi Road near Phetchaburi MRT station as well as a plot opposite the Purple Line electric train Government Office Complex station in Nonthaburi.
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General News
The Centre for Covid-19 Situation Administration (CCSA) reported 1 new COVID-19 infection among returnees in state quarantine in the past 24 hours, while eight more people have recovered from the disease and returned home.
The new case is a 38-year old Thai businessman who arrived in Thailand from India on August 8 among 21 other passengers who tested positive for COVID-19.
He entered state quarantine in Bangkok and tested positive for the virus on August 21.
Cumulative infections in Thailand, to date, are 3,403, with 3,222 recoveries and 58 deaths.
Political News Headlines in Thai Media
The House’s budget scrutiny committee has postponed its decision until August 31 on the navy’s plan to buy two more submarines worth 22.5 billion baht from China, according to local news on Wednesday.
o Link- https://www.thaienquirer.com/17596/the-houses-budget-scrutiny-committee- delays-its-decision-on-chinese-submarines-until-august-31/
The Thai government has arrested two more student protest leaders of the latest pro- democracy movement on Wednesday. o Link- https://www.thaienquirer.com/17584/thai-government-arrests-two-more- protest-leaders-on-wednesday/
The largest opposition party has come under criticism from its opposition partners and progressive voices in Thai society for its hesitancy in pushing for censure debates and a parliamentary debate on the constitution.
o Link- https://www.thaienquirer.com/17547/pheu-thai-under-criticism-from- progressives-for-not-pushing-through-charter-amendments/
On Tuesday, Anon Numpha was arrested by police and charged with sedition for leading and speaking in anti-government protests. It was the third time that Anon had been arrested by the state and the third time he faced a lengthy bail hearing.
o Link- https://www.thaienquirer.com/17557/to-stop-the-tide-of-student-protests-the- government-is-resorting-to-incarceration-litigation-and-intimidation/
An online campaign (#แบนดาราสล่ิม) has been trending for the past week as Thai netizens campaign to boycott all Thai celebrities, coined as salims, who participated in the PDRC protests.
o Link- https://www.thaienquirer.com/17549/thai-netizens-campaigning-against-thai- celebrities-that-supported-pdrc-protests/
Thai students are poking fun at Prime Minister Prayut Chan-ocha and the conservative Thai establishment with the latest viral hashtag on Twitter.
o Link- https://www.thaienquirer.com/17540/we-know-were-evil-thai-student- protesters-poke-fun-at-adults-with-latest-viral-hashtag/
Last week, police arrested members of the Rap Against Dictatorship, a Thai rap/hip-hop group famous for their anti-government songs and lyrics. The group has been one of the most vocal critics of the military government and the entrenched bureaucracy in Thai society.
o Link- https://www.thaienquirer.com/17473/the-government-view-rap-against- dictatorship-as-a-threat-theyre-now-part-of-a-proud-tradition/
Responding to news that Facebook has accepted censorship requests from the Thai government, Rasha Abdul-Rahim, Amnesty Tech’s acting programme co-director, said: “Once again Facebook is caving to the whims of repressive governments, while making meek appeals to human rights, setting another dangerous precedent for freedom of expression online.
o Link- https://www.nationthailand.com/news/30393550?utm_source=category&utm_mediu m=internal_referral
Student leaders from the Free Youth Group on Wednesday submitted their 10-point manifesto on reforming the monarchy to a House committee on politics for consideration.
o Link- https://www.bangkokpost.com/thailand/politics/1975175/students-submit- manifesto
The Move Forward Party has set a target to limit or even shut down the role of the Senate once the charter amendment motion goes before the parliament, taking a more radical stand than other opposition parties in pushing for constitutional change.
o Link- https://www.bangkokpost.com/thailand/politics/1975047/move-forward-aims- to-turn-off-senate-switch-in-charter-motion
The chairman of the prime minister's committee reviewing the aborted hit-and-run case of Red Bull heir Vorayuth Yoovidhya said his panel saw "injustice" and the "shadow of corruption" in past handling of the prosecution.
o Link- https://www.bangkokpost.com/thailand/general/1975227/pms-panel-finds- graft-in-boss-case
Economic News Headlines in Thai Media
The share price of VGI, a leading out-of-home media service operator, soared up exponentially by 14.29 per cent to 6.80 baht on Wednesday morning at 11:49 a.m., an increase of 0.85 baht, with a trading value of 754.1 million baht.
o Link- https://www.thaienquirer.com/17575/vgi-shares-rise-sharply-breaking-the- ceiling-as-a-response-to-kerry-filing/
Amata Corporation PCL (AMATA), a leading industrial city developer, revealed that the company still maintains its target for 2020 at 950 rai of land sales. o Link- https://www.thaienquirer.com/17565/amata-holds-same-2020-outlook-as- uncertainties-lie-ahead/
Thailand needs to attract foreign tourists back and have a welcoming system of disease control in place, so local people can start earning money again, Prime Minister Prayut Chan-o-cha said on Wednesday.
o Link- https://www.bangkokpost.com/thailand/politics/1975139/prayut-backs-return- of-tourists
Industry Minister Suriya Jungrungreangkit believes the Thai industrial sector has rebounded as the manufacturing production index (MPI) in July increased for the third consecutive month by 3.12% from June to 85.4 points.
o Link- https://www.bangkokpost.com/business/1975351/suriya-worst-over-for- manufacturing-sector
Thailand's economic fundamentals and fiscal position remain strong in the face of the pandemic-induced recession and the "worst is behind us", new Finance Minister Predee Daochai said on Wednesday.
o Link- https://www.bangkokpost.com/business/1974959/finance-minister-economic- fundamentals-still-solid-amid-pandemic
The Electricity Generating Co (EGCO Group) is set to apply for a licence from the Energy Regulatory Commission to import liquefied natural gas (LNG), said EGCO Group president Thepparat Theppitak.
o Link- https://www.nationthailand.com/business/30393572?utm_source=category&utm_me dium=internal_referral
Businesses and investors in Nakhon Ratchasima have asked the Mass Rapid Transit Authority of Thailand (MRT) to review the electric tram blueprint for the province over concerns about cost-efficiency.
o Link- https://www.bangkokpost.com/business/1975179/mrt-urged-to-rethink-korat- trams
The Energy Ministry has agreed to approve a 2-billion-baht budget to support 1,035 energy efficiency and renewable energy projects through the Energy Conservation Fund.
o Link- https://www.bangkokpost.com/business/1975255/encon-allots-b2bn-budget Kerry Express Thailand, the country’s leading parcel delivery provider, has submitted an initial public offering filing to the Securities and Exchange Commission in preparation to offer up to 300 million IPO shares to the public.
o Link- https://www.bangkokpost.com/business/1975079/kerry-express-prepares-ipo- for-up-to-300m-shares
Issues to be watched out for
August 28, 2020 – Mobile cabinet meeting is scheduled in Rayong and Chanthaburi provinces.
August 29, 2020 – The deadline for farmers to return the banned agri-chemicals, paraquat and chlorpyrifos, in their possession to sellers.
August 31, 2020 – The government is expected to lift lockdown restrictions imposed under the emergency decree.
September, 2020 - The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is planning to hire a consultancy to conduct an in-depth analysis on pros and cons of the highly controversial Comprehensive and Progressive Agreement for Trans- Pacific Partnership (CPTPP) in a bid to renew its call for the government to join the pact next year. September 2020 – Recruitment of new board members of the National Broadcasting and Telecommunication Commission (NBTC) is set to kick off.
September 8, 2020 - The Central Criminal Court for Corruption and Misconduct Cases set for a hearing to decide whether to accept a lawsuit filed against national police chief Pol Gen Chakthip Chaijinda brought by his deputy Pol Gen Wirachai Songmetta.
September 9-10, 2020 – A general debate without a vote under Section 152 is expected to be held in the parliament.
September 16-18, 2020 – The 3.3-trillion-baht budget for Fiscal Year 2021 proposed by the government is expected to be tabled in parliament. September 21, 2020 – The National Economic and Social Development Council (NESDC, formerly known as the National Economic and Social Development Board or NESDB) is to revise the 20-year national strategy at an annual meeting to respond to the COVID-19 crisis.
September 30, 2020 – The Stock Exchange of Thailand (SET) is set to extend the revised equity short-selling regulations from June 30 to September 30 as stock market volatility remains high in the wake of the Covid-19 pandemic.
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 Thailand Grand Prix was rescheduled after being postponed due to the coronavirus outbreak.
October 27, 2020 – The Central Bankruptcy Court is set for first hearings for Nok Airlines regarding the rehabilitation process.
Key Data
SET Index 1,322.55 +6.56
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 August 26, 2020
Buying, Selling or Transfer of shares by Owners/Management
Stock Code Volume Value Action
AS 52,000 4.3 Sale BCPG 350,000 12.5 Purchase CHO 258,800 0.5 Purchase COMAN 10,000 2.1 Purchase DDD 10,000 16.5 Purchase ECF 4,000,000 0.24 Sale EP 100,000 3.78 Purchase
LPH 70,000 4.57 Purchase LPH 10,000 4.47 Purchase LPH 10,000 4.41 Purchase MBAX 72,600 6.21 Sale MBAX 403,600 6.26 Sale OSP 2,200,000 38.5 Purchase PLANET 20,000 1.09 Sale PLANET 50,000 1.13 Sale THANI 750,000 3.36 Purchase SPVI 200,000 2.74 Sale SELIC 190,000 1.79 Purchase SICT 105,000 4.3 Sale STGT 5,000 75.75 Purchase STGT 3,000 68 Purchase STGT 85,000 70.5 Purchase SMT 100,000 2.8 Sale TU 183,100 14.69 Sale 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 26 Aug 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 4,406.71 9.06 3,449.44 7.09 957.27 - Proprietary 5,958.40 12.25 6,314.31 12.98 -355.91 - Trading Foreign Investors 16,764.80 34.46 16,413.14 33.74 351.66 - Local Individuals 21,522.37 44.24 22,475.40 46.2 -953.02 - Monthly Cumulative between 1 - 26 Aug 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 97,665.24 10.57 93,358.20 10.1 4,307.04 - Proprietary 105,584.74 11.42 106,309.02 11.5 -724.27 - Trading
Foreign Investors 324,007.13 35.05 338,373.12 36.61 -14,365.98 - Local Individuals 397,063.41 42.96 386,280.20 41.79 10,783.22 - Yearly Cumulative since 1 Jan - 26 Aug 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 1,166,545.31 11.09 1,092,765.88 10.39 73,779.43 - Proprietary 1,073,767.55 10.21 1,073,472.25 10.2 295.3 - Trading Foreign Investors 3,683,133.43 35.01 3,924,322.96 37.3 - - 241,189.53 Local Individuals 4,598,162.98 43.7 4,431,048.18 42.11 167,114.80 -
Total Trading Value 48,652.28 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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