December 16, 2020

Thai Enquirer Summary

Economic News

 The government’s new phase of the co-payment scheme saw an overwhelming response this morning as the 5 million people were allowed to take up the offer that opened at around 05:30 am this morning.

 By 07:30 more than 50 per cent of the 5 million registrations had already been taken up and people were logging in the system to undertake the registration.

 This scheme comes despite the “Rao Tiew Duay Kan” (We Travel Together) campaign being put on hold as allegations of fraud has put this entire scheme of the government on hold.

 The government has come out to say that it was mulling legal action against those involved in rampant fraud in the half-half co-payment scheme.

 Prime Minister Gen Prayut Chan-o-cha is reported to order the Finance Ministry to take action against those who are involved in alleged corruption to set a standard for other government-sponsored projects and prevent these crimes from recurring.

 The 2nd phase of the Rao Tiew Duay Kan campaign has been postponed after widespread corruption was found in the 1st stage, with more than 500 participating hotels and shops being found to have profited from abusing the scheme. The alleged fraud made the government postpone the addition of 1 million room nights to the scheme, scheduled for today, for at least 1 month.

 Tourism Authority of Thailand (TAT)’s investigation found that 312 hotels and 202 shops participating in the campaign were involved in alleged irregularities. The TAT decided to postpone traveller-registration for the 2nd phase of the campaign, which was due to start today. It was planned that up to 1 million travellers would benefit.

 There were 108,962 transactions made with 312 suspected hotels and 49,713 transactions with 200 suspected stores, Yuthasak Supasorn, governor of the Tourism Authority of Thailand (TAT), said.

 Yuthasak said he would file a complaints with the Royal Thai Police Office in Pathumwan district at 9.00 hrs today against those who were involved in alleged corruption in the travel subsidy scheme.

 Kerry Express (Thailand) Plc (KEX) a leading parcel delivery provider, announced the price of its initial public offering (IPO) at 28 baht per share, from an IPO price range of 25-28 baht per share set previously due to overwhelming interest from investors and thanks to the rapid growth of e-commerce platforms, which has increased by 135 per cent in the past 5 years.

 The company is set to trade in the Stock Exchange of Thailand for the 1st day on December 24, 2020.

 Proceeds from the offering to the public which will account around 8.4 billion baht will be used for expanding the Kerry Express network, enhancing its efficiency, repaying loans and boosting its working capital.

 The cabinet’s meeting yesterday acknowledged the Finance Ministry’s report of the country’s average ratio of public debt to GDP of 49.34 per cent, below the 60 per cent set by the Finance Ministry’s fiscal sustainability framework at the end of fiscal year 2020, ending September 30, 2020.

 The government's tax revenue collection in the first month of fiscal 2021 fell short of its target by 15.4 billion baht or 8.5%, attributed to the impact of the pandemic.

 Kulaya Tantitemit, acting director-general of the Fiscal Policy Office (FPO), reported yesterday the government garnered net revenue of 167 billion baht in October, 15.4 billion below the target. The figures were 73.7 billion baht or 30.6% below those collected in October last year.

 "A shrinking economy triggered by the spread of Covid-19 has resulted in lower income for business operators and workers, leading to government revenue collection falling accordingly," said Ms Kulaya, also a Finance Ministry spokeswoman.

 She said the lower collection also stemmed from smaller revenue remittances by energy-related state enterprises whose operating results in 2020 fell, as well as a relatively high base in 2019.

 Developers of high-rise buildings and electric train projects in have been told to suspend construction activities which increase the amount of dust particles in the air for a few days, by the Bangkok Metropolitan Administration (BMA), as it increases measures to deal with the air pollution problem in the city.

 BMA spokesman Pongsakorn Kwanmuang told the media that the administration has instructed district chiefs and directors of municipal schools to consider temporary closures in areas worst affected by PM2.5 dust particles, especially kindergartens.

 Health Department deputy director-general Danai Teewanda said that schools have been advised to shorten the daily national anthem ceremony and morning prayers to only 10-15 minutes, so that students need not stay outdoors for too long.

 He also advised hawkers and motorcycle taxi drivers, who are vulnerable to air pollution, to wear face masks all the time while outdoors.

 A majority of private organisations, 77 per cent, has plans to overhaul their payroll structural systems in 2021, according to research by the online job portal JobThai.

 Saengduan Tangthamsatid, co-founder and chief operating officer of JobThai, said the survey found that 48.2 per cent of private companies plan to revamp companies’ payroll structure; 28.9 per cent have plans to revise up and down employees’ salaries; 18.1 per cent have not finalised their policies while 1.6 per cent of companies in the survey said they plan to cut employees’ salaries.

 Under the planned overhaul, companies have started to make an adjustment to employees’ welfare events such as recreational activities, parties, sport events, annual trips and annual bonuses.

 The Bangkok Mass Transit Authority (BMTA)’s labour union members called for the Prime Minister to give the greenlight to the long-delayed rehabilitation plan for the BMTA while the BMTA’s rehabilitation process appears to be stuck in limbo.

 BMTA workers’ union president Boonma Pongma said he will lead more than 300 members of the BMTA’s labour union to the government’s public complaints centre to petition Prime Minister Gen Prayut Chan-o-cha to speed up the rehabilitation process for the BMTA upon a pending cabinet consideration.

 Transport Minister Saksayam Chidchob came out to say that his ministry is doing its best to accelerate the rehabilitation process but it needs cooperation from other agencies to materialise the process. He said the cabinet secretariat office is currently seeking opinions of related agencies over the rehab plan before forwarding it to the Transport Ministry again.

, covering 2,235 rai of land in Bangkok, will be opened as the country's new and largest rail transport centre by late next year as planned, Prime Minister Prayut Chan-o-cha said yesterday.

 He was speaking while leading cabinet members on a visit to the and inspecting progress in the final phase of construction.

 Aside from being the country's rail transport nerve centre, the central station will also play a crucial role in developing the country, boosting the economy, and promoting trade, investment and urbanisation, the prime minister said.

 The land around Bang Sue Grand Station is being developed for commercial purposes along with the ongoing development of the country's rail transport system, he said.

Political News

 During the upcoming censure debate against the government, apart from the 3 generals (Prayut Chan-o-cha, Prawit Wongsuwon & Anupong Paochinda) another member of the Phalang Pracharat party - Education Minister Natapol Teepsuwan, is set to be among the targets that is to be grilled for his poor performance that caused Thai youths to take to the streets in an attempt to oust him from office, says Wiroj Lakkhana-adiorn of the opposition Kao Kai (Move Forward) party.

 The opposition bloc is preparing the censure motion to be submitted to parliament next month.

 The debate targets embattled Prime Minister Gen Prayut Chan-o-cha for the government’s handling of the faltering economy and alleged corruption, Sutin Klungsang, chief opposition whip and an MP from Pheu Thai Party said.

 Wisarn Techatheerawat, the Pheu Thai MP for Chiang Rai, said the opposition was compiling evidence to support the censure allegations. It has obtained figures from the National Anti-Corruption Commission (NACC) about rampant corruption in state procurement projects during the past 6 years Gen Prayut in office.

 Parit “Penguin" Chiwarak, co-leader of the United Front of Thammasat and Demonstration (UFTD) has come out to distance himself from the Free Youth group following rampant criticism against Free Youth for floating the idea of the communist system and a republic for Thailand. Parit said he did not condone communist ideologies which do not reflect the group’s own political ideology.

 On his Facebook post, Parit said he would like to clarify that he is a member of the UFTD, not Free Youth. The Ratsadon and the UFTD groups uphold democratic rule under which everyone is equal and has rights and liberties.

 Parit vowed to continue his fight for his cause to promote democracy and eradicate the dictatorship and “Sakdina” (feudalism) system to attain equality and liberty for everyone. Parit, however, said there is nothing wrong in advocating communism or transformation to a republic, because they have the right to free expression.

 The Thai Pakdee (Loyal Thai) group led by former MP Warong Dechgitvigrom plans a rally on December 18 to drum up public support to keep Section 112 of the Criminal Code in place.

 On his Facebook page, Dr Warong posted, #1 right, 1 vote in support of Section 112. He reiterated his group’s stance to protect the royal institution under a constitutional democracy. The group insisted that the lese majeste law under Section 112 has not been used as a tool to intimidate anyone while some group of people exploited the lese majeste law as a political tool.

 Thai Pakdee invited the public to join its #1 right, 1 vote in support of Section 112 campaign rally from 16.00 hrs on December 16 at Lumpini Park.

 The opposition Pheu Thai Party denied that former prime minister Thaksin Shinawatra is wielding influence to help the party campaign for its candidate in an upcoming Provincial Administrative Organisation (PAO) in following the accusation by political activist Srisuwan Janya who plans to petition the Election Commission to investigate the party in relation to Thaksin’s conduct.

 Previously, Thaksin wrote a letter to appeal to Chiang Mai residents to support a candidate for the PAO chief contesting under the Pheu Thai Party’s banner, prompting Srisuwan to take action with the poll agency if Thaksin tried to wield his influence to sway voters in support of Pheu Thai.

 Pheu Thai Party deputy leader Chusak Sirinil said regulations on the PAO election allow an outsider to assist a candidate and in case a financial assistance of more than 5,000 baht is given to assist a candidate, the EC must be informed. Chusak said Thaksin has never mentioned Pheu Thai’s name when writing to Chaing Mai residents. Thaksin helped the party’s candidate woo support from voters is a personal matter, not because Pheu Thai asked him to do so.

 However, in Thaksin’s letter, he asked voters to support Pheu Thai candidate Pichai Lertpongadisorn in the PAO chairman election on December 20.

 Cholnan Srikaew, another Pheu Thai deputy leader, conceded with Chusak. He said Thaksin did not wield his influence over the party’s affairs or executive members. Thaksin’s letter was directed at Pheu Thai’s PAO candidate, not the party.

 On the charter amendment bid, the Pheu Thai Party’s meeting yesterday resolved to set up a committee in charge of following up on charter amendments.

 Chusak Sirinil, who chairs the party’s new committee, resolved to follow up on controversial issues surrounding charter amendment drafts which include such issues as

 Factors that make the charter more difficult to be amended

 A new constitution drafting assembly (CDA) must come from a direct election as well as an appointment.

 A public referendum.

 The government has named Suporn Atthawong and Terdpong Chaiyanant as its representatives on the proposed national reconciliation panel amid criticism that the 2 are divisive figures.

 Suporn, an assistant to the PM’s Office minister, and Terdpong, a Democrat MP, have been picked to join the proposed national reconciliation committee to work out solutions to the political conflicts.

 The coalition parties reached an agreement to send 2 representatives, 1 from the Phalang Pracharat Party and the other from the Democrat Party. Following this resolution, Democrat Party leader Jurin Laksanawisit has proposed Therdpong while the PPRP proposed Suporn.

 The pair often exchanged heated words with protesters. However, Deputy Prime Minister Gen Prawit Wongsuwan tried to downplay the scenario as he told reporters that the public should allow the pair to get to work first.

 The Central Criminal Court for Corruption and Misconduct Cases yesterday sentenced former commerce minister Banyin Tangpakorn to death along with 5 other defendants, who were also convicted of collaborating in the murder of a judge’s brother 5 years ago. Banying along with others, however, got commuted life or death sentences for providing useful testimony.

 Pol Lt Col Banyin, 56, the first and third defendant in this case, was found guilty of 5 charges.

 For detaining a person causing his death, Pol Lt Col Banyin was sentenced to death. The other charges he was found guilty of were collaborating in a premeditated murder (death), impersonating an official (1 year in prison), wearing an official’s uniform (1 year) and hiding or destroying a body (4 years).

General News

 Three more Thai returnees from Myanmar’s Tachilek Town, in local quarantine facilities in the northern province of Chiang Rai, have tested positive for COVID-19, raising the number of infections linked to Tachilek to 64, including 55 cases in Chiang Rai, said Dr Opas Karnkawinpong, director-general of Disease Control Department.

 The three new infections in Chiang Rai are residents of Bangkok, Ubon Ratchathani and Chon Buri and they do not pose a risk of infection because all of them are isolated in quarantine, Dr Opas said.

 The Centre for Covid-19 Situation Administration (CCSA) also recorded 9 new Covid-19 cases, all quarantined foreigners who flew in from 7 countries, including a 6-month-old baby boy, in the past 24 hours, taking the number of total accumulated cases in Thailand to 4,246 since the start of the outbreak. No new deaths were reported.

 Two of the arrivals came from Switzerland, 2 from the United States and 1 each from Ethiopia, the United Kingdom, Romania, the Netherlands and Qatar.

 All 9 new cases tested positive for the novel coronavirus while in alternative state quarantine facilities in Bangkok.

 Pornhub reportedly took down 13.5 million videos from its platform, leaving a little as under 3 million videos.

 Pornhub has removed all of the unverified and illegal content from the platform. So far, about 80 percent of their videos have been deleted.

Political News Headlines in Thai Media

 This December 2, Thai society was made aware of the grievances against school uniforms and uniformity in general when students across the country went to schools wearing casual wear.

o Link- https://www.thaienquirer.com/21612/opinion-the-fight-against-school- uniforms-is-a-important-intellectual-struggle/

 Recently, a 16-year-old male teenager was accused of committing lèse majesté. The teenager was summoned by the Yannawa Police Station in Bangkok after the administrator of a popular Facebook page had filed a complaint with police against him.

o Link- https://www.thaienquirer.com/21607/opinion-recent-lese-majeste-charges-are- now-beyond-the-point-of-absurdity/

 The public will be asked which measures they are willing to accept in the fight against the deadly smog as some of the previous solutions to tackle the problem have been criticised and turned down before, the government said on Tuesday. o Link- https://www.thaienquirer.com/21593/government-to-gauge-public-sentiment- before-implementing-anti-smog-measures/

 A new report released on Tuesday by the International Labour Organization showed that 2 in 5 workers in the hospitality industry in Thailand did not work due to the impact of Covid-19.

o Link- https://www.thaienquirer.com/21589/new-ilo-report-shows-that-2-in-5- workers-in-the-hospitality-industry-did-not-work-due-to-covid-19/

 The police are looking to prosecute the organizer of the Big Mountain Music Festival for violating Nakhon Ratchasima’s executive order, local media reported Tuesday.

o Link- https://www.thaienquirer.com/21582/big-mountain-organizers-likely-to-be- prosecuted-for-concert-authorities-say-not-politically-motivated/

 Thailand’s military-backed government believes that the tide of public opinion has turned against student-protesters and that it will unlikely face the kind of pressure seen earlier this year in 2021, government sources said Tuesday.

o Link- https://www.thaienquirer.com/21580/government-thinks-public-opinion-has- turned-against-students-making-plans-for-next-year/

 Free Youth’s latest social media posts arguing in favour of its communism logo was met with negative comments from their followers this week.

o Link- https://www.thaienquirer.com/21557/free-youth-met-with-pushback-from-own- supporters-over-the-defense-of-communism/

 Each year on the 10th of December, Thailand commemorates its first constitution adopted after the 1932 Siamese Revolution. History books describe this as the momentous event of Thailand’s transition from an absolute to a constitutional monarchy– that is, democracy, with the monarch as the head of state.

o Link- https://www.thaienquirer.com/21545/the-cycle-of-coups-and-constitutions-a- reflection-on-thailands-quest-for-a-charter/

 Have your foreign friends ever asked you about #WhatIsHappeninginThailand? (#WhatsHappeninginThailand) Or are you curious to know a bit more background about why students are protesting against the government?

o Link- https://www.thaienquirer.com/21553/video-explainer-what-is-happening-in- thailand/

 A woman was charged with royal defamation, or lese majeste, for allegedly mocking the monarchy by wearing a traditional Thai dress to a protest, her lawyer said Tuesday.

o Link- https://www.khaosodenglish.com/politics/2020/12/15/woman-who-dressed- like-a-royal-charged-with-lese-majeste/

 The opposition is moving to file a no-confidence motion against the government next month -- the second such censure move against the current administration.

o Link- https://www.bangkokpost.com/thailand/politics/2036019/pheu-thai-seeks-fresh- censure-fight

 The three Thai women who sparked panic in Chiang Mai after sneaking back into Thailand from Myanmar while infected with the coronavirus will face serious charges, local police said on Tuesday.

o Link- https://www.bangkokpost.com/thailand/general/2035923/infected-trio-face- stiff-action

 Seven Vietnamese nationals -- two men and five women -- were arrested after illegally crossing the Thai-Malaysian border into Thailand in Sungai Kolok district on Monday night, authorities said yesterday.

o Link- https://www.bangkokpost.com/thailand/general/2035975/7-held-after-illegal- river-crossing-fails

Economic News Headlines in Thai Media

 The hashtags #SaveChana and #Saveจะนะ (Save Chana) trended on Thai Twitter on Monday and Tuesday as netizens came together to raise awareness and criticize the controversial, government-backed industrial project set to be built in the Chana District of Songkhla Province.

o Link- https://www.thaienquirer.com/21538/netizens-take-up-local-led-protest- against-plans-for-industrial-park-in-songklha/

 The cabinet agreed on Tuesday to put the proposed Chana Industrial Estate on hold.

o Link- https://www.bangkokpost.com/thailand/general/2035895/controversial-chana- plan-put-on-hold

 Thai Airways International (THAI) is ready to help public health and medical organisations transport Covid-19 vaccines both in and out of the country, acting president Chansin Treenuchagron said.

o Link- https://www.nationthailand.com/news/30399636?utm_source=category&utm_mediu m=internal_referral

 Floods in the southern region have affected 691,659 households and claimed the lives of 30 people, the Department of Disaster Prevention and Mitigation reported on Tuesday.

o Link- https://www.nationthailand.com/news/30399628?utm_source=category&utm_mediu m=internal_referral

 Civil construction of Bang Sue Central Station, which will serve as the hub of high-speed train connecting three airports (Don Mueang, Suvarnabhumi and U-Tapao), as well as the 10 stations of the Red Line urban train route, is now 100 per cent complete.

o Link- https://www.nationthailand.com/news/30399620?utm_source=category&utm_mediu m=internal_referral

 The Board of Investment (BOI) will ask the Cabinet to approve new smart visa rules designed to attract more overseas talent to work in Thailand.

o Link- https://www.nationthailand.com/business/30399645?utm_source=category&utm_me dium=internal_referral

 Government Savings Bank (GSB) will offer various loan and savings packages to visitors at the year-ending Money Expo 2020, said president Vitai Ratanakorn.

o Link- https://www.nationthailand.com/business/30399641?utm_source=category&utm_me dium=internal_referral

 Japanese restaurant operators in Thailand have continued to expand despite the pandemic, according to the latest market survey by the Japan External Trade Organisation (Jetro).

o Link- https://www.bangkokpost.com/business/2035991/japanese-restaurants-take-off- in-provinces

 Boonyanit Wongrukmit, the newly appointed governor of state-run Electricity Generating Authority of Thailand (Egat), vows to reduce bureaucratic hassles and build a more informal atmosphere at work to make Egat more agile in dealing with the fast-changing energy industry.

o Link- https://www.bangkokpost.com/business/2035971/new-egat-head-eager-to- slash-bureaucratic-rules

 The secretariat of the House of Representatives will hold talks with legal experts to find solutions to the unfinished construction of the new parliament complex as the new deadline for its completion approaches.

o Link- https://www.bangkokpost.com/business/2035891/deadline-for-building-looms

 TMB-Thanachart Bank (TMB-TBank) aims to transfer its wholesale commercial customers onto a digital banking platform next year, a move that should help clients save about 60% on their operational costs.

o Link- https://www.bangkokpost.com/business/2036063/digital-shift-to-cut-tmb- tbank-clients-costs

Issues to be watched out for

 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 2020 – Kerry Express (KEX) announces IPO price with IPO trading expected on the Stock Exchange of Thailand (SET) by the 4th week.

 December 16, 2020 - Bangkok’s 1.8-kilometre on the Thonburi side of the Chao Phrya River will open.

 December 20, 2020 – Tentative date for elections of Provincial Administrative Organizations (PAOs) in 76 provinces.

 December 30, 2020 – The Generalized System of Preferences (GSP) for 3,500 products from the 119 designated beneficiary countries and territories are set to end.

 February, 2020 – A law amendment bill that allows women with pregnancies of not more than 12 weeks to get an abortion is to take effect.

 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 1,477.21 +1.08

 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 December 15, 2020

Buying, Selling or Transfer of shares by Owners/Management

Stock Code Volume Value Action

BEC 2,000,000 6.99 Purchase

BTNC 800 13.61 Purchase BTNC 900 12.9 Purchase BTNC 11,000 13.64 Purchase CCP 100,000,000 0.44 Sale CCP 100,000,000 0.44 Sale MTI 1,500 84 Purchase NCAP 2,160,000 5.84 Sale NCAP 3,130,000 6.38 Sale SQ 100,950 1.9 Sale STGT 400 70.25 Purchase SFLEX 1,000,000 5.25 Purchase SFLEX 1,000,000 5.25 Purchase SFLEX 2,100,000 5.27 Purchase SFLEX 2,700,000 5.19 Purchase TSTE 700 6.9 Purchase TU 200,000 14.6 Purchase THG 6,300 25.25 Purchase THG 23,700 25.5 Purchase THG 140,300 25.75 Purchase THG 229,700 26 Purchase AUCT 50,000 10.3 Purchase UTP 10,000 13 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 Dec 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 6,525.34 7.11 10,282.05 11.21 -3,756.71 - Proprietary 10,689.90 11.65 11,069.31 12.07 -379.41 - Trading Foreign Investors 36,005.27 39.24 34,574.01 37.68 1,431.26 - Local Individuals 38,524.49 41.99 35,819.63 39.04 2,704.86 - Monthly Cumulative between 1 - 15 Dec 2020

Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 55,278.75 7.2 62,255.22 8.11 -6,976.47 - Proprietary 91,062.60 11.86 91,458.38 11.91 -395.78 - Trading Foreign Investors 298,560.03 38.88 292,197.89 38.05 6,362.14 - Local Individuals 323,089.23 42.07 322,079.13 41.94 1,010.11 - Yearly Cumulative since 1 Jan - 15 Dec 2020 Unit: M.Baht Investor Type Buy Sell Net Value % Value % Value % Local Institutions 1,580,551.41 10.36 1,535,574.85 10.06 44,976.56 - Proprietary 1,647,388.08 10.8 1,631,233.67 10.69 16,154.41 - Trading Foreign Investors 5,498,070.66 36.03 5,758,614.98 37.74 - - 260,544.32 Local Individuals 6,532,727.58 42.81 6,333,314.23 41.51 199,413.36 -

Total Trading Value 91,745.00 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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