August 7, 2020
Thai Enquirer Summary
Political News
Finally, after all the speculations the list of the new Cabinet was released yesterday.
The Cabinet cannot operate yet because as per the law the Cabinet has to be sworn in by HM the King before they can assume their office
This is expected to happen on August 11 or 12 before the Cabinet meeting on August 13th.
A group photo in-front of the Government House is in the pipeline for August 13th
The new government spokesman is expected to be unveiled on the same day as he or she is tasked with hold a press conference about the first meeting of the new cabinet ministers.
The new Cabinet has 7 names holding 8 positions
Predee Daochai, chairman of the Thai Bankers’ Association, was appointed finance minister, replacing former finance minister Uttama
Savanayana, one of former deputy prime minister Somkid Jatusripitak’s team. Predee resigned from his job as co-president of Thailand’s Kasikorn Bank last month to join the government.
Supattanapong Punmeechaow, a former director of PTT Global Chemical Plc, took over as energy minister and was also appointed a deputy prime minister. Predee and Supattanapong are expected to play key roles in the new economic team, replacing former Finance Minister Uttama Savanayana and former Energy Minister Sonthirat Sonthijirawong, members of Deputy Prime Minister Somkid Jatusripita’s team.
Incumbent Minister of Foreign Affairs Don Pramudwinai will concurrently serve as a deputy prime minister.
Anucha Nakasai, a key member of the Saam Mitr Group in the Phalang Pracharat Party (PPRP), is Prime Minister’s Office Minister.
Suchart Chomklin, deputy leader of the PPRP, took over as labor minister.
Anek Laothammatas, a founding member of the Ruamphalang Prachachartthai Party, was appointed the Minister of Higher Education, Science, Research and Innovations.
Narumon Pinyosinwat took over as Deputy Labour Minister.
National army chief General Apirat Kongsompong is said to seek an urgent meeting with Prime Minister and Defence Minister Prayut Chan-o-cha at the Defence Technology Institute yesterday (August 6) after the Prime Minister submitted the list of his new ministers for royal endorsement and the list was royally endorsed and announced in the Royal Gazette at 13.40 hrs on the same day.
The meeting sought by the army chief is believed to be about some problems regards this year’s military reshuffle, according to media speculation.
In a separate issue, Gen Apirat came out to slam those who reacted and criticised his remarks branding student protesters as “those who hate the nation”. The army chief specially condemned the “hatred of the nation” that plague the country as a bigger threat than the coronavirus.
The army chief is said to tell his close aide that, “I did not mention their names, but I was talking about the disease. Why did they have to react?”
Gen Apirat’s remarks have drawn criticism from student activists and the Kao Klai (Move Forward) Party.
In his Facebook post, Move Forward list MP Rangsiman Rome unveiled a document showing the army’s Ordnance Department’s planned procurement of artillery worth 834.4 million baht and planned purchase of artillery worth 249.9 million baht, the latter scheme was announced on July 15, 2020.
Rangsiman said he questioned Gen Apirat’s love for the nation after the army sought to obtain such expensive military hardware. He said the army’s 2 procurement schemes are just small examples of others announced earlier by the army like the army’s plan to buy a new aircraft for general use worth 1.34 billion baht in the 2021 fiscal year to transport the army and VIPs announced last month.
After the House committee studying charter amendments agreed on the proposal seeking an amendment to Section 256 of the charter to facilitate constitutional changes which requires a referendum at a cost of 3 billion baht, Deputy Prime Minister came out to warn that the charter rewrite process is unlikely to take place during the current parliamentary session.
Wissanu, known as the government’s legal expert, said there are 2 ways to amending the constitution -- with or without a referendum.
Amendments requiring a referendum are changes to Chapter 1 which contains general provisions, Chapter 2 which deals with the monarchy and Chapter 15 which deals with constitutional amendments, including Section 256.
Changes to provisions associated with the qualifications and power of members of independent agencies, such as a provisional section allowing the Senate to join MPs in voting for a PM, also require a referendum. He said amendments that do not require a referendum are those unrelated to these chapters and provisions.
He then warned that the charter rewrite process is unlikely to take place during the current parliamentary session because parliament is still deliberating the budget bill for fiscal 2021.
The pro-government group under the Archeewa Chuay Chart (Vocational Students Helping the Nation) banner announced plans to rev up demonstrations on August 12 at Bangkok’s Lumpini Park.
The announcement was made by group leader Tossapon Manoonrat, a former student of Min Buri Polytechnic Technology College, after the Free Youth Group, an anti-government protest group, launched “the Free People Movement” yesterday (August 6).
Tossapon said his group is not trying to block anyone’s freedom of expression allowed under a democratic system but feared that leaders of “the Free Youth” Group are trying to cause misunderstanding about the monarchy. Tossapon further denounced Anon Nampa who is part of youth-led activists that staged an
anti-government rally that made clear their stance against the existence of the royal institution during rallies and on social media sites.
Meanwhile, the Free Youth Group will hold a press briefing from 10:00hrs to 11.30 hrs today (August 7) in front of McDonald’s near the Democracy Monument to officially introduce “the Free People Movement”.
A by-election in constituency 5 of Samut Prakan province is set to be held on Sunday August 9 to fill an empty seat following the Supreme Court gave a yellow-card for vote- buying to Krungsiwilai Suthinphueak of the Phalang Pracharath Party (PPRP).
However, Krungsiwilai, who was given No. 4, is expected to contest the election re-run on Sunday against other candidates Mana Boonnak (No 1), a candidate from the Seri Ruam Thai Party, Issarawut Na Naan (No 2), a candidate from the Kao Klai Party, and Pheu Thai’s Salinthip Sukkawat (No 3).
Today marks the 4th anniversary of the passage of the 2016 constitution that was put to referendum in 2016
The charter that was drafted by the pro-military Meechai Ruchuphan, has since become the issue of contention as many of the clauses are deemed to be undemocratic
The charter had passed the referendum on the basis that ‘it should be passed in order to hold elections and then the charter could be amended in the future’ but little did the voters know that for an amendment to take place 2/3 of the house (both houses) have to agree and that included the 250 senators who were appointed by the military government.
This group of senators have continued to oppose the amendment of the charter even as demand for the re-writing of the charter has grown to nearly all provinces throughout the country.
As of today, as many as 47 out of the 77 provinces in the country has seen anti-government protests by students.
Economic News
Despite Gen. Prayut remaining the leader of the ‘economic team’ of the new cabinet, business leaders have come out to welcome a shake-up in the Prayut government which
sees former business leaders Predee Daochai, chairman of the Thai Bankers’ Association, and Supattanapong Punmeechaow, a former director of PTT Global Chemical Plc, being appointed finance minister and energy minister and was also appointed a deputy prime minister, respectively.
The Federation of Thai Industries Chairman Supant Mongkolsuthree welcomed the appointment of the 2 new economic ministers as he is convinced that Predee and Supattanapong’s good understanding expertise in economic policy making will help solve economic problems facing the country that required an immediate attention.
Supant called on the new team to immediately set up a working committee collaborating with the private sector to revive the economy, similar to the government’s move to set up the Centre for Covid-19 Situation Administration (CCSA) to tackle the outbreak. He said the working committee reviving the economy should comprise members from the state agencies and private organisations to address economic problems immediately, especially economic hardships facing the public and a liquidity shortage among small and medium- sized enterprises (SMEs).
Thai National Shippers’ Council (TNSC) Chair Ghanyapad Tantipipatpong voiced similar concerns as she said:
“I see a chance to draw foreign direct investment as a bit tough during this period, now that almost all countries across the world are encountering the same economic difficulty because of the virus crisis,” Ghanyapad said, calling on the new cabinet to focus on beefing up domestic investment, particularly in the agricultural industry, food, and medical supplies during this critical period.
Thai Chamber of Commerce (TCC) Chairman Kalin Sarasin asked the new economic team to carry on good development schemes, while improving projects deemed bad or impractical.
Kalin called on the new economic team to proceed with international negotiations, especially the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership, the trade pact between Japan, Australia, Canada, Mexico and seven other countries.
Supant said the private sector was conducting its own research on the deal, which will be reported to the government.
Prime Minister General Prayut Chan-o-cha has predicted the Thai economy will contract less than 10 per cent this year, thanks to its strong economic fundamentals and effective handling of the Covid-19 outbreak.
He made the prediction during a speech on the economy at an event hosted by the Bangkok Post to celebrate its 74th anniversary on August 6.
He added that the economy grew 1 per cent in 2014 after he assumed the premiership in August that year, rising to 3.1 per cent in 2015 and 3.4 per cent in 2016.
Tourism and Sports Minister Phiphat Ratchakitprakarn continues his push to open up 5 islands for foreign tourists including Koh Samui, Koh Pha Ngan and Koh Tao in Surat Thani province, Phi Phi in Krabi and Phuket.
Phiphat said the 5 locations are ready to open their doors again but on the condition the government implements disease control measures to guard against the re-emergence of Covid-19 in the country. In the eyes of the Tourism and Sports Minister, it should not be hard for the government to put approved foreign tourists under quarantine in designated locations for virus control.
The Board of Investment of Thailand (BoI) sees a drop in the total value of investment applications in the first 6 months of 2020 (from January to June).
Duangjai Asawachintachit, secretary-general of the BoI, said the number of applications submitted to the BoI for the 6-month period slightly increased to 754 from 703 in the same period last year, up 7 per cent. However, the lower average project size led to the total value of applications declining per cent to 158.890 billion baht, as compared to 190.330 billion baht of the last year period resulting from the COVID-19 outbreak. Also, last year the BoI approved investment applications for 225 large biomass power generation projects worth a combined 85.480 billion baht.
The Garment Manufacturers Association said 70,000-80,000 jobs in the industry at risk in the third quarter as factories are forced to close their doors as the Covid-19 outbreak has been hampering the clothing industry.
Chairperson Yuttana Silpsarnvitch said the ongoing COVID-19 pandemic has hit Thailand’s textile and garment industry hard, with 20% of companies in the industry and related industries expected to shut down, leaving up to 80,000 people unemployed in the third quarter of this year.
The Federal Aviation Administration (FAA) issued an emergency airworthiness directive, warning airlines that use Boeing 737-300, -400, -500, -600, -700, -700, -800, -900 and - 900 ER jets to hurry to inspect air compressor and valves due to lack of use that could lead to engine failures, the Civil Aviation Authority of Thailand (CAAT), announced.
Nok Air currently has 14 Boeing 737 jets and Thai Lion Air has 30 Boeing 737 jets. The CAAT said both airlines have received the warning from the FAA.
------
General News
The case of the illegal casino in Soi 66 of Rama 3 road that saw 4 people being shot dead continues to haunt the Royal Thai Police department.
The police now have until August 9 to find the culprits or else the top people in the Royal Thai police officials will be shafted to ‘inactive’ positions
This has created a fear that a lot of ‘scapegoats’ will be used to fulfil this requirement
What is more interesting is the fact that as many as 4 of the injured people at the casino shootout have also not been able to be traced as they have not gone to any
. Images floating around in social media
Chuwit Kamolvisit, the maverick former massage parlour king and former MP from Bangkok, has come out to reveal that there are a few more casinos in Chonburi district operated by ‘Tee Lek Pattaya’
Tee Lek is reportedly the man who owned the Rama 3 casino as well
Thailand recorded 2 new COVID-19 cases among Thais who have returned from abroad and are in state quarantine, according to the Centre for Covid-19 Situation Administration (CCSA).
The 2 new cases are a 42-year-old man and a 62-year-old woman who returned from the United States. Both arrived in Thailand on July 31, on the same flight as a passenger who was earlier found to be infected.
Cumulative infections in Thailand, to date, are 3,330, with 3,148 recoveries and 124 others still in hospital. The death toll remains 58.
Globally Total number of cases 19.25 million Total number of deaths 717,655 Total Active Cases 6.18 million
Political News Headlines in Thai Media
Thailand’s new cabinet members were officially endorsed on Thursday, with the new members now officially appointed to their new positions, according to the Royal Gazette.
o Link- https://www.thaienquirer.com/16639/new-cabinet-members-royally-endorsed/
There are only a handful of countries in the world that would call themselves “democratic” when the military still have so much influence on its government and politics.
o Link- https://www.thaienquirer.com/16628/opinion-apirats-comments-shows-we-do- not-live-in-a-democratic-country/
On paper, there are two special administrative areas in Thailand including, Bangkok and Pattaya. But arguably, there are actually three, the capital, the sin city, and Newin Chidchob’s Buriram.
o Link- https://www.thaienquirer.com/16608/opinion-newin-has-built-a-state-inside-a- state-in-buriram-and-no-one-can-stop-him/
With a Harry Potter-themed protest in the rearview mirror, pro-democracy activists across Thailand have more pop culture-themed protests scheduled throughout the next week.
o Link- https://www.khaosodenglish.com/politics/2020/08/06/football-and-mowgli- themed-protests-next-in-the-roster/
Deputy Prime Minister Wissanu Krea-ngam says there are two approaches to amending the constitution -- with or without a referendum.
o Link- https://www.bangkokpost.com/thailand/politics/1964027/wissanu-talks- referendums
The Bangkok Metropolitan Administration confirmed that no ammonium nitrate has been stored in the city, but admitted that some businesses possess risky chemicals that need to be kept an eye on.
o Link- https://www.nationthailand.com/news/30392528?utm_source=category&utm_mediu m=internal_referral
The Immigration Bureau (IB) lifted travel restrictions on Vorayuth "Boss" Yoovidhaya after the Red Bull scion's hit-and-run charges were dropped late last month.
o Link- https://www.bangkokpost.com/thailand/general/1964019/immigration-lifts- boss-travel-curbs
A gunman who shot dead a suspected shooter who allegedly killed three, including a police major, at a gambling den in Bangkok’s Yannawa district on Monday night has surrendered, claiming self-defence.
o Link- https://www.bangkokpost.com/thailand/general/1963951/man-who-fired-at- gambling-den-shooter-surrenders
Economic News Headlines in Thai Media
The Thai economy has improved since the coup of 2014, Prayut Chan-ocha, the previous junta leader and the current prime minister, said at a forum attended by foreign ambassadors and diplomats on Thursday.
o Link- https://www.thaienquirer.com/16641/prayut-defends-economic-record-says- the-economy-has-improved-since-the-2014-coup/
SET-listed, state enterprise Airports of Thailand drew shades of the 1997 economic crisis this week by asking Kasikorn Securities to withdraw an unfavourable analysis on AOT’s stock and calling in the author for clarification.
o Link- https://www.thaienquirer.com/16653/aot-criticized-for-calling-in-private- analyst-to-voice-complaint-about-report-on-king-power-connection/
Thailand’s core consumer price index (CPI) index has increased by 0.39 per cent year-on- year in July, signalling that domestic purchasing power is recovering, said the Ministry of Commerce (MOC) on Thursday.
o Link- https://www.thaienquirer.com/16657/the-ministry-of-commerce-said- purchasing-power-and-domestic-demand-are-recovering-from-the-outbreak/
Thai airlines are preparing to send a letter to Prime Minister Prayut Chan-o-cha next week asking for soft loans that have been delayed in the absence of a finance minister.
o Link- https://www.bangkokpost.com/business/1964119/airlines-nudging-pm-for-soft- loans
The Treasury Department is considering reducing land rents for companies affected by the Covid-19. Among them is the Airports of Thailand (AOT), which requested a one- year rent reduction, citing lower revenues caused by the pandemic.
o Link- https://www.bangkokpost.com/business/1964023/treasury-mulls-rent-reduction
Thailand’s chief trade negotiator said the country had missed its chance to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) this year.
o Link- https://www.nationthailand.com/news/30392552?utm_source=category&utm_mediu m=internal_referral
A sky train Pink Line pillar under construction collapsed today (August 6) on Chaengwattana Road in Nonthaburi’s Pak Kret district, injuring five workers.
o Link- https://www.nationthailand.com/news/30392524?utm_source=category&utm_mediu m=internal_referral
Digital consultancy I&I Group Plc (IIG) opened at its ceiling price and remained there on its first day of trading on the Market for Alternative Investment, reflecting a trend of big bets on tech-related services deemed safe from the coronavirus pandemic's effects.
o Link- https://www.bangkokpost.com/business/1964183/iig-opens-closes-at-limit- price-in-debut
The Stock Exchange of Thailand (SET) will scrutinise possible irregular trading with high turnover volume after the share prices of recently listed securities reached the resistance point on their first trading day.
o Link- https://www.bangkokpost.com/business/1964123/set-to-probe-possible-trading- irregularities
Construction giant CH Karnchang has targeted total revenue of around Bt20 billion for 2020, said its president Supamas Trivisvavet.
o Link- https://www.nationthailand.com/business/30392561?utm_source=category&utm_me dium=internal_referral
Dusit Central Park, the mixed-use joint venture project of Dusit Thani and Central Pattana, is introducing a rooftop park as a new green landmark at the 3.67-billion-baht project.
o Link- https://www.bangkokpost.com/business/1963623/dusit-central-park-project- launches-green-landmark
The price of gold could rise further amid uncertainty over rising inflation and mass buy- ups by the world’s large gold funds, experts said. o Link- https://www.nationthailand.com/business/30392532?utm_source=category&utm_me dium=internal_referral
Issues to be watched out for
August 17, 2020 – The first day of hearings for Thai Airways International Plc (THAI)’s bankruptcy case.
August 17, 2020 – The National Economic and Social Development Council (NESDC, formerly known as the National Economic and Social Development Board or NESBD) is scheduled to release 2nd quarter GDP data.
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 3.3-trillion-baht budget for Fiscal Year 2021 proposed by the government is expected to sail through parliament.
September 2020 – Recruitment of new board members of the National Broadcasting and Telecommunication Commission (NBTC) is set to kick off.
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 1,333.22 -4.13
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 6, 2020
Buying, Selling or Transfer of shares by Owners/Management
Stock Code Volume Value Action
JMT 83 - Sale JMT 10,000 11.1 Purchase PPS 55,900 0.43 Purchase PPS 500,000 0.42 Purchase UKEM 3,000,000 0.62 Sale VCOM 500,000 3.3 Transfer
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 6 Aug 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 5,736.15 10.42 5,184.35 9.42 551.79 - Proprietary 6,011.38 10.92 5,946.65 10.8 64.73 - Trading Foreign Investors 19,417.66 35.27 18,809.56 34.16 608.11 - Local Individuals 23,896.12 43.4 25,120.74 45.62 -1,224.63 - Monthly Cumulative between 1 - 6 Aug 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 23,626.13 10.49 20,075.83 8.91 3,550.30 - Proprietary 26,350.24 11.7 24,945.33 11.07 1,404.91 - Trading Foreign Investors 79,598.36 35.33 82,939.51 36.82 -3,341.16 - Local Individuals 95,695.51 42.48 97,309.57 43.2 -1,614.06 - Yearly Cumulative since 1 Jan - 6 Aug 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 1,092,506.20 11.12 1,019,483.51 10.38 73,022.69 - Proprietary 994,533.06 10.12 992,108.57 10.1 2,424.49 - Trading Foreign Investors 3,438,724.65 35.01 3,668,889.36 37.35 - - 230,164.70 Local Individuals 4,296,795.08 43.74 4,142,077.55 42.17 154,717.52 -
Total Trading Value 55,061.31 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
Information provided here is copyright of ThaiNews Corp and no part maybe reproduced in any form without the prior written permission. The opinions expressed are only those of the writer’s and is analysed based on the situation.