October 16, 2020
Thai Enquirer Summary
Political News
A picture says 1,000 words
So here is what embattled Prime Minister Prayut Chan-o-cha’s ‘“Serious Emergency Situation in Bangkok ’ declaration means to the people of the country
Despite all the threats by the government of Prayut people filled up the area from
Central Chidlom to MBK From Pratunam intersection until Anantara Siam hotel
No rough estimates were given by anyone but it is likely that more than 10,000 people turned up for the incident that took place while ‘Emergency’ laws banning more than 5 people was put in place.
The sheer number of people turning up prompted department stores in the area to close down With Central closed @ 18:00
Paragon also closed
If you though Ratchaprasong was the only place where there was a gathering, you are mistaken, There was one at
Chulalongkorn University (Bangkok)
Chiang Mai
Uttaradit
Songkla
Khon Khaen and other provinces
The students have called for protest every day at 17:00 but where will be disclosed each day
During the protest yesterday
Panupong Jadnok or “Mike Rayong” went up a stage and called for calm and a non-violent protest. Panupong demanded immediate release of dozens of activists arrested earlier.
He said that if any of the protestors were going to be hurt then it would not be the list of demands they are looking for, it would all transform into being just 1 demand of revolution not reform.
There were some scuffles between the protesters and the police but no untoward incidents were reported. There were no signs that the police intended to evict the protesters.
The rally was dispersed from Ratchaprasong site at 22.00 hrs last night after protest leaders said that they would gather again today (October 16) to ramp up pressure on the government to resign, the House to rewrite the charter and the Monarchy to reform. The rally lasted about 6 hours without violent clashes between protesters and police.
To date, the number of activists detained by police rose to 44 during the past 2 days of the rallies; 23 more activists and demonstrators were arrested yesterday (October 15) following the arrests of 21 Free Youth Movement protesters on October 13 including Pai Daodin.
Four activists continued to be held on remand in prisons in Chiang Mai and Pathum Thani provinces after the Criminal Court rejected their bail applications at the police’s request, citing their previous records of involvement in protests and claims that their release would allow them to incite public unrest.
The 4 protest leaders who were arrested during the rally led by the Khana Ratsadon 2563 (People’s Party 2020) demonstrations during the past 2 days at Government House are human rights lawyer Anon Nampha, Praset Khrutharote, Panasaya “Rung” Sitthijirawattanakul and Nutchanon Pairote.
Anon and Praset who were flown to Chiang Mai yesterday (October 15) to be questioned by the police there were escorted to the provincial prison. They are
expected to be held for 12 days while Panasaya and Nutchanon are being held in a prison in Pathum Thani’s Tanyaburi district after the Tanyaburi court rejected their bail applications.
Another protest leader, Pai Daodin, was remanded to Bangkok Special Prison for 12 days.
The 6-opposition parties came out to openly disapprove of the ‘Extreme Emergency’ decree that was issued and called for the release of the students and the activists who have been arrested.
The Kao Klai party leader described the use of an emergency decree as a “silent” coup d’tat.
Surapong Suebwonglee, the former finance minister/public health minister and ICT Minister under Thaksin Shinawatra government, came out to call on Bhumjai Thai and/or Democrat party to sign the petition to call for an extraordinary meeting of the parliament in order to hold a meeting as the opposition has 212 votes and needs 246 MPs to call for an extra ordinary parliamentary meeting.
He said that it is the job of the MPs to come out and sort the problems of the country and the next parliamentary session is slated for in November and the situation is changing fast that there could be no time to wait another 15-days to sort the problems out.
He called on Bhumjai Thai and Democrats who have 61 MPs and 50 MPs respectively under their party’s banner and are supporting the government of Prayut and his gang of military men in the parliament.
Three senior officers who supervised the riot control division have been transferred to inactive posts pending investigation after a royal motorcade encountered a group of protesters yesterday (October 15).
The 3 senior police officers are deputy chief of the Metropolitan Police Somprasong Yenthuam, Bangkok police’s 1st division commander Prasai Jittasonthi, and Security and Crowd Control Commander Manop Sukonthanapat.
No reasons were stated for their removal. However, police spokesman police spokesman Yingyot Thepchamnong said the 3 senior officers are under investigation into why they did not clear the route. One of the 3, Manop, could be seen running alongside the royal motorcade.
“It didn’t go according to plans,” Maj Gen Yingyot said. “They might have forgotten or misunderstood the details of the plans.”
The Criminal Court approved the arrest warrants for 2 pro-democracy activists---Ekachai Hongkangwan and Bunkueanun “Francis” Paothong---who were identified as the suspects in the most serious charge filed by the authorities so far since the waves of anti- government protests began in February. If guilty, they face life in prison.
The 2 activists believed to have been among the protesters when the Queens’s motorcade passed by on Phitsanulok Road on Wednesday afternoon (October 14).
Both of them were charged under Section 110 of the Criminal Code which bans an act of violence against Her Majesty the Queen’s liberty.
The Parliament saw troops move in for reasons still unknown to people
Gen Prayut is said to have returned to Government House after declaring the emergency law on Bangkok and after pro-democracy leaders were arrested and protesters cleared from the area.
Gen Prayut is said to travel to his residence at the 1st Infantry Regiment of the King’s Own Bodyguard in a bulletproof Mercedes-Benz car with licence plate 4 Kor Tor 29 Bangkok amid tight security throughout the entire route.
Digital Economy and Society (DES) Minister Buddhipongse Punnakanta together with Trairat Viriyasirikul, acting secretary-general of the National Broadcasting and Telecommunications Commission (NBTC), called an urgent meeting with all internet service providers (ISPs) in the country to discuss guidelines on what they can do or cannot do under the state of emergency.
The DES Minister and the NBTC have asked ISPs and International internet gateway (IIG) operators to follow guidelines for media controls imposed under the state of emergency, especially towards inappropriate contents, Buddhipongse said, adding that the 2 agencies asked ISPs and IIG to do their best part to support the government during the time of a serious emergency situation.
Economic News
The political instability is taking a toll on the economy and the stock market
Yesterday the composite Stock Exchange of Thailand (SET) dipped 1.66 per cent The SET Index fell by 21.03 points to end the day at 1,242.96 points
Kalin Sarasin, chairman of the Thai Chamber of Commerce and a member of the Joint Standing Committee on Commerce (JSCC) came out to warn that the emergency decree
caused confusion among foreign investors and business people in Thailand. He urged the government to lay down clear guidelines for the scope of the emergency law and create a good understanding with business people within 1-2 days.
Kalin said he personally agreed with the imposition of an emergency decree to control violence but said concerns are rising among businesses and the private sector amid the ongoing rallies that might spiral to upcountry provinces.
Kalin said he had been inquired by foreign investors whether they can go ahead with holding seminars and meetings in Thailand, after the emergency ban on gatherings was imposed yesterday (October 15).
Sorrabhol Virameteekul, vice-president of Kasikorn Securities, said the declaration of the state of emergency and the protest at the Ratchaprasong intersection bode ill for the prospects of the tourism and hospitality industries already reeling from the COVID-19 crisis.
Meanwhile, the Federation of Thai Industries (FTI) urged the government to be careful with the enforcement of the emergency decree and state actions against protesters. The draconian law, which prohibits gatherings of five or more people and the publication of news or online messages in a way that can harm national security, is often an issue of contentious criticism across the public and private sectors.
“What impact it [the decree] may bring remains unknown,” said FTI chairman Supant Mongkolsuthree.
He said business people just hope the rally doesn’t escalate, which would inflict further damage on the Thai economy.
A special cabinet meeting is expected at 10.00 hrs today (October 16) to approve the emergency decree at the Thai Khu Fah Building in Government House. The latest
measures are in addition to a national emergency in place since the end of March to deal with the COVID-19 outbreak, which allows the government to enforce mandatory quarantines and streamline disease-control plans without multiple approvals.
Following mounting calls for the Bank of Thailand (BoT) to extend the debt moratorium programme that will end on October 22, the Central Bank said it will seek cooperation from commercial banks and specialised financial institutions (SFIs) to have the debt moratorium scheme extended, said BoT’s senior director Roong Mallikamas. Roong hinted that the BoT will allow banks to decide by themselves to handle risks of debts turning into bad loans.
Reports have come out that the private sector has asked the Central Bank to extend the programme for another 6 months with a reduction of interest charges at no more than 30 per cent for small and medium-sized enterprises (SMEs) following mounting calls from the private sector after the programme ends on October 22, said Roong.
Today is the 1st day of the registration for the government’s stimulus on spending.
Registration for the 3-month economic stimulus package called “Khon La Khrueng” (Let’s Go Halves) will open for 10 million Thai nationals over the age of 18 through the www. คนละครึ่ง.com website during 6.00-23.00 hrs today (October 16, 2020).
The Finance Ministry boasts that the system could accommodate registration of 100,000 people per minute at the same time. The ministry did not put the limit on the number of applicants per day until the registration is close when it received 10 million applicants.
With the registration now open more than 800,000 people have registered for the 10 million eligible participants for the 50:50 purchasing per day of maximum of 150 baht a day for a maximum of 3,000 baht
The government came out with the incentive to offer to pay 50 per cent of the daily spending for up to 3,000 baht per person for this scheme in order to spur the economy.
One can start using October 23rd, but registrations starts today
As Total Access Communication (DTAC) is set to announce its financial statement today (October 16), Land & Houses Securities expects DTAC to post an 18% year-on-year decline in net profit for the third quarter of this year to 1.49 billion baht, or a drop of 21 per cent from the previous quarter of 1.89 billion baht.
The decline was attributed to a sharp decline in the number of foreign tourist arrivals, resulting in lower sales of tourist SIM cards.
LH Securities expect further weak profit outlook for the 4th quarter of this year.
The Stock Exchange of Thailand (SET) Index closed down 21.03 points or 1.66 per cent at 1,242.96 points as political uncertainties weighed the market down yesterday (October 15). The volume of total transactions was 54.209 billion baht with an index high of 1,258.09 and a low of 1,240.75.
The SET index to fall to between 1,255 and 1,260 points amid escalating political turmoil in Thailand that and dispute in the US over economic stimulus measures.
Uncertainty over Thai commercial banks’ weak 3rd-quarter performance also pressure the index.
About 500 Thailand Elite Card members have been approved by the Centre for Covid-19 Situation Administration (CCSA) to visit the country, according to Thailand Privilege Card Co (TPC).
Of the total, 52 card holders, mostly from Germany and Britain, have already entered the country, said Somchai Soongswang, president of TPC, a state-owned enterprise that operates the Thailand Elite Card programme under the Tourism Authority of Thailand.
In August and September, the company received 900 new membership applications a month from foreign investors and entrepreneurs, compared with 400 a month before the pandemic.
The TPC will work closely with the Foreign Ministry to ease the process of acquiring the Certificate of Entry (COE) for the remaining members who express an intention to enter.
Two groups of Chinese tourists with Special Tourist Visas (STV) will arrive in Thailand on Oct 20 and 26, Tourism and Sports Minister Phiphat Ratchakitprakarn has confirmed.
The first group of 120 STV foreign visitors will depart from China's southern province of Guangzhou and arrive at Suvarnabhumi Airport next Tuesday.
The other group, with 120 people, will also come from Guangzhou.
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General News
Thailand discovered 13 new cases of coronavirus in the last 24 hours, according to the Centre for Covid-19 Situation Administration (CCSA).
The 13 new cases are returnees from Myanmar (6), South Sudan (3), Lebanon (1), Netherlands (1), Italy (1), and Ethiopia (1). Three of the 6 patients from Myanmar have already returned to their home country for treatment.
The new discoveries bring the total number of cases up to 3,665, with the death toll remaining at 59.
The COVID cases around the world has once again started to rise with the United States once again rising sharply.
Thailand is bracing for a second tropical storm in two weeks, according to the Thai Meteorological Department (TMD). The latest storm is expected to widen the damage caused by the previous one.
In its storm update released at 11pm on Thursday, the TDM said an active low- pressure cell east of the Philippines had intensified into a Category 2 tropical depression.
From Friday until Sunday, the depression is forecast to develop into a Category 3 tropical storm, making landfall in the central region of Vietnam.
Political News Headlines in Thai Media
The Royal Thai Police, the army, and a group of special ‘volunteers’ will coordinate to block protesters from gathering in downtown Bangkok on Thursday ahead of a planned rally, sources told Thai Enquirer.
o Link- https://www.thaienquirer.com/19652/police-military-and-volunteers-to- coordinate-strategy-and-block-a-planned-anti-government-protest/
Opposition MPs and human rights groups have condemned the Thai government’s actions against pro-democracy protestors and its Declaration of a Serious Emergency Situation in Bangkok on Thursday.
o Link- https://www.thaienquirer.com/19653/opposition-parties-and-rights-groups- condemn-thai-government-for-action-against-protesters/
Free Youth, one of the remaining protest groups after a government crackdown, released a statement on Thursday condemning the government action and calling for the release of arrested anti-government protest-leaders.
o Link- https://www.thaienquirer.com/19641/remaining-protest-group-releases- statement-condemning-government-crackdown/
Protesters are taking to social media in defiance of government orders to not advocate for or attend a planned rally at Rajprasong on Thursday.
o Link- https://www.thaienquirer.com/19630/protesters-defiant-as-new-rally-hashtag- trends-on-social-media-platforms/
Three senior high-ranking police officers who were in charge of Wednesday’s protests have now been relieved of their duties by the Police Chief, with immediate effect on Thursday, officials documents said.
o Link- https://www.thaienquirer.com/19646/three-senior-police-officials-relieved-of- their-duties-for-allowing-convoy-confrontation/
The current political divide in Thailand can be summarized as a conflict between conservative and progressive forces. In any society, there is no singular viewpoint and it is impossible in a society that everyone would think the same way.
o Link- https://www.thaienquirer.com/19613/opinion-not-all-royalists-are-extreme- some-are-willing-to-have-hard-conversations/
Thailand’s government on Thursday said that it had discovered thirteen new cases of coronavirus in the last 24 hours.
o Link- https://www.thaienquirer.com/19637/thailand-discovers-10-new-cases-of- coronavirus-in-state-quarantine-on-thursday/
Prominent activist Phanuphong Jadnok led protesters in forming a “human wall” as a rally kicked off in Bangkok at 4pm on Thursday.
o Link- https://www.nationthailand.com/news/30396265?utm_source=category&utm_mediu m=internal_referral
The Internet Law Reform Dialogue (iLaw) Group said the state of emergency, which went into effect early on Thursday, will give the premier unfettered right to exercise special powers as he was able to do in his capacity as chairman of the National Council for Peace and Order (NCPO).
o Link- https://www.nationthailand.com/news/30396246?utm_source=category&utm_mediu m=internal_referral
Pro-democracy protest leader Panusaya "Rung" Sithijirawattanakul was arrested on Thursday morning at her hotel room.
o Link- https://www.nationthailand.com/news/30396238?utm_source=category&utm_mediu m=internal_referral
Police announced on Thursday that they are deploying at Ratchaprasong in Bangkok after student pro-democracy protesters stated their intention to hold a rally at the main intersection from 4pm.
o Link- https://www.nationthailand.com/news/30396237?utm_source=category&utm_mediu m=internal_referral
Courts have approved arrest warrants for two activists believed to be among the protesters when the Queens's motorcade passed by on Phitsanulok Road on Wednesday afternoon and denied bail for three Khana Ratsadon rally leaders held during a crackdown that night.
o Link- https://www.bangkokpost.com/thailand/general/2002755/warrants-out-for-two- in-motorcade-incident
A state of emergency centre led by the police chief and supervised by Deputy Prime Minister Gen Prawit Wongsuwon will likely be set up after the “serious” state of emergency was declared for Bangkok at 4am on Thursday.
o Link- https://www.bangkokpost.com/thailand/politics/2002711/prawit-led-centre- likely-to-handle-situation
Economic News Headlines in Thai Media
Analysts expected the Stock Exchange of Thailand to fall on Thursday after several protest leaders were arrested overnight and a state of emergency declared by the government.
o Link- https://www.thaienquirer.com/19624/set-drops-after-soe-declared-unfavorable- global-market/
Trinity Securities is advising investors to allocate 10 to 20 per cent of their portfolios to Thai shares and 10 per cent to shares in China and Vietnam in order to cope with volatility next year.
o Link- https://www.nationthailand.com/business/30396264?utm_source=category&utm_me dium=internal_referral Finance Minister Arkhom Termpittayapaisith said on Thursday that it was too early to tell how the state of emergency will affect the economy.
o Link- https://www.nationthailand.com/business/30396260?utm_source=category&utm_me dium=internal_referral
Academics predict the automotive industry will see a reduced workforce and use more robots and automation after the Covid-19 crisis, pointing to an unskilled workforce and noting that opportunities for new graduates to enter the automotive manufacturing sector are still low due to an obvious lack of experience.
o Link- https://www.nationthailand.com/business/30396247?utm_source=category&utm_me dium=internal_referral
The Royal Forest Department has asked police to take action against gold miner Akara Resources Plc for allegedly encroaching on public and forest land covering 73 rai in two northern provinces.
o Link- https://www.bangkokpost.com/thailand/general/2002743/officials-accuse- akara-of-encroaching-on-forests
The ICT sector is expected to contribute 30% to Thai GDP by 2030, up from 10% at present, thanks to 5G ecosystem development led by network deployment and the government's digital economy policy, says Chinese tech giant Huawei.
o Link- https://www.bangkokpost.com/business/2002907/huawei-ict-to-form-30-of- gdp-by-2030
The use of an emergency decree is aimed at crowd control and averting economic losses, says the newly appointed finance minister, but a business group is urging caution over how the measure is carried out.
o Link- https://www.bangkokpost.com/business/2002887/fti-urges-caution-in-carrying- out-new-emergency-decree
Big shopping malls in the middle of Bangkok's main shopping district are bracing for another whammy on top of the deadly Covid-19 crisis after anti-government demonstrators on Thursday gathered at Ratchaprasong intersection, the site of a major crackdown in 2010 that ended with scores of people killed.
o Link- https://www.bangkokpost.com/business/2002891/ratchaprasong-jittery-over- protests
Destination Capital (DC) and KTB Securities Thailand (KTBST) have joined forces to launch the DESCAP 1 Private Equity Trust for hotel and resort acquisition in Thailand, with a project investment value of 2.5 billion baht.
o Link- https://www.bangkokpost.com/business/2002927/dc-ktbst-launch-b2-5bn- hotel-equity-trust
Esso Thailand Plc, one of the country's top five fuel retailers and refiners, is splashing out 1.2-1.5 billion baht in capital spending to expand the business from the remainder of this year to the end of 2021.
o Link- https://www.bangkokpost.com/business/2002855/esso-allots-up-to-b1-5bn-for- expansion
The government is being urged to waive the special business tax for property transactions between cash-strapped developers and new investors to avoid possible non-performing loans (NPLs) as the fallout from Covid-19 hits the economy and property market.
o Link- https://www.bangkokpost.com/business/2002915/cash-strapped-developers- urge-tax-waiver
Preparations are underway for a mobile cabinet meeting which will be held in Phuket next month. Local authorities and businessmen have been asked to present proposals to revive the local economy that has been battered by the Covid-19 pandemic.
o Link- https://www.bangkokpost.com/thailand/politics/2002795/cabinet-meeting-to- move-to-phuket
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 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-November 1, 2020 – Fast Auto Show Thailand at Bitec, Bangna.
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 1,242.96 -21.03
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 15, 2020
Buying, Selling or Transfer of shares by Owners/Management
Stock Code Volume Value Action
BKER 1,300 5.7 Purchase CHG 50,000 2.4 Purchase GL 65,000 2.86 Sale NRF 1,250,000 6.35 Sale NRF 1,250,000 7.15 Sale SFLEX 24,000,000 4.51 Sale TSTE 300 6.8 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 15 Oct 2020 Unit: M.Baht Investor Type Buy Sell Net
Value % Value % Value % Local Institutions 3,443.43 6.35 5,558.29 10.25 -2,114.86 - Proprietary 6,994.32 12.9 6,927.74 12.78 66.58 - Trading Foreign Investors 19,581.38 36.12 21,320.89 39.33 -1,739.51 - Local Individuals 24,190.03 44.62 20,402.23 37.64 3,787.80 - Monthly Cumulative between 1 - 15 Oct 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 50,308.30 9.92 49,800.35 9.82 507.96 - Proprietary 64,435.87 12.7 63,826.12 12.58 609.75 - Trading Foreign Investors 174,350.14 34.37 186,024.82 36.67 -11,674.68 - Local Individuals 218,235.05 43.02 207,678.08 40.94 10,556.97 - Yearly Cumulative since 1 Jan - 15 Oct 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 1,318,105.44 10.89 1,249,425.14 10.32 68,680.29 - Proprietary 1,269,569.37 10.48 1,266,648.43 10.46 2,920.94 - Trading Foreign Investors 4,253,456.33 35.13 4,542,805.00 37.52 - - 289,348.67 Local Individuals 5,267,308.11 43.5 5,049,560.67 41.7 217,747.43 -
Total Trading Value 54,209.15 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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