Business

BANGKOK (NNT) – The Stock Exchange of Thailand (SET) is pursuing its initiative to encourage SMEs and startup businesses to raise funds via the capital market, expecting general investment this year to be challenged by external factors, urging investors to properly manage the risks.

SET President Pakorn Peetathawatchai said the SET aims to promote balanced growth due to technological changes in the capital market this year, by streamlining its services at One-Stop Service points for registered companies, as well as providing opportunities in Thailand and abroad through capital market connections with Cambodia, Laos, Myanmar, and Vietnam.

The SET will be urging SMEs and startup companies to raise funds via capital markets, and improve regulations to provide better ease of doing businesses.

He said the overall investment scene in Thailand’s stock exchanges and capital markets will be subject to external challenges and fluctuations…

BANGKOK (NNT) – Thailand remained an investment destination for international investors last year, as reflected in the overall value of investment promotion requests in 2019, released by the Board of Investment (BOI) today, which exceed a 750 billion baht goal.

An impressive 59% was in the Eastern Economic Corridor, with China outreaching Japan to become the biggest international investor in Thailand.

Deputy Prime Minister Somkid Jatusripitak, today assigned the Board of Investment of Thailand (BOI) to introduce measures to oversee companies receiving investment promotion packages last year to proceed with their investment plans.

1,624 projects worth 756.1 billion baht

The BOI last year received investment promotion requests for 1,624 projects worth 756.1 billion baht, of which 506 projects worth 444.88 billion baht are located in the Eastern Economic Corridor (EEC), accounting for 59 percent of total investment promotion re…

Good news for the general public and SMEs as the Bank of Thailand (BOT) has ordered commercial banks to revise their interest rates, and the fees they charge for their financial products and services, including ATM and debit card fees, to help reduce the burden borne by customers.

The BOT now recommends commercial banks impose advance refinance fees on personal loans, with SME loans to be based on the remaining loan balance, as opposed to the entire loan amount, as well as offering a period of grace where fees are not imposed.

As for housing loans, SME loans, and personal loans, the interest rates for default cases will now be calculated on the amount due, as opposed to the remaining loan balance.

A period of grace will be offered to customers facing extraordinary circumstances. These new interest rate guidelines are effective from now until 31st December 2021.

Banks are now required to return customers annual ATM and debit …

Bangkok (ESCAP news) – Asia-Pacific economies may see positive trade growth in 2020 but are still facing downside risks from the adverse impacts of the United States – China trade tensions, two new trade briefs by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) released today have revealed.

Trade in the Asia-Pacific region contracted during 2019

For the first time since the 2009 global economic crisis, the value and volume of trade in the region is declining. Total export volume fell by 2.5 per cent, while import volume decreased by 3.5 per cent.

Oil exporting economies such as Islamic Republic of Iran and Indonesia, as well as Japan, Singapore and Hong Kong, China registered some of the largest declines in export volume.

Merchandise trade in the region also faced strong headwinds in 2018-2019 caused by the worldwide economic growth slowdown and heightened trade tensions.

These have had an advers…

According to the real estate consultancy, foreign investments into Asia Pacific are at a decade-high, making up 35 per cent of total volumes, mostly driven by private equity funds and large-scale transactions.

“Real estate in Asia Pacific has gained favour in the last year as investors continue to seek high yields and stability amid a climate of geopolitical uncertainty and slowing economic growth. As an increasing amount of capital is being allocated to real estate, we’re seeing more clients making larger-scale investments to expand their portfolios.”

Stuart Crow, CEO, Capital Markets Asia Pacific, JLL.

“Over the next two years, we expect global real estate transaction volumes to stay elevated and Asia Pacific to outperform Europe and the Americas with an outsized portion of global investor interest.”

JLL reveals five key trends that investors should look out for in 2020.

1. Logistics assets are a hot ticket

Investor appetite …

BANGKOK(NNT) – The Board of Investment of Thailand (BOI) has approved measures to promote investment in the Eastern Economic Corridor (EEC) by expanding the number of target industries and increasing corporate income tax benefits.

A meeting of the BOI, chaired by Prime Minister and Defense Minister, Gen. Prayut Chan-o-cha, approved the measures to attract more investors to the EEC.

The first measure is to expand target industries and businesses in the EEC, such as industries in the advanced technological development and supporting industries.

The second measure is to increase corporate income tax benefits, which cover human resource development and location. Companies in the A1, A2 and A3 business categories will be entitled to a 50% reduction in corporate income tax for three more years, while technological industries and businesses will enjoy corporate income tax exemption for two additional years.

Companies located …

BANGKOK (NNT) – The government is taking steps to legalize Grab services, expected to be effective from March 2020, beginning with the Grab taxi service.

The Grab motorcycle service is pending further study.

Deputy Government Spokesperson Traisulee Traisoranakul quoted Transport Minister Saksayam Chidchob as saying the legalization of Grab services via their application will be submitted to the cabinet for consideration.

Ministerial regulations and conditions will also be defined for private vehicles to be used to provide Grab services and licenses will be issued for corporate operators of the Grab services.

Legalization of Grab services is expected to be effective from March 2020, beginning with the Grab taxi service.

Ms. Traisulee confirmed that the government has a policy to legalize public vehicle services via the use of applications to provide convenience and justice for the people.

Many private veh…

 Thai cities continue to be among the biggest risers in the Cost of Living rankings, with Bangkok rising 43 places and entering the top 50 most expensive locations for the first time, at 47th place.

This was one of the findings of the latest Cost of Living survey published by ECA International, the world’s leading provider of knowledge, information and software for the management and assignment of employees around the world.

Bangkok, long seen as a cheap destination for holidaymakers and expatriates alike, has seen a huge jump in its rankings, moving the most out of all Asian cities surveyed.

Lee Quane, Regional Director – Asia for ECA International 

This is largely the result of a strong Thai baht. We have seen Thai cities moving significantly up the rankings over the past few years – Bangkok has moved up 75 places in the last two years alone while Chiang Mai moved up 56 places in the same period.”

ECA International has b…

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The Thai Cabinet today approved three new stimulus packages to prop up the softening economy, said Finance Minister Uttama Savanayana.

The government expects the measures to propel full-year economic growth to 2.8% from a projection of 2.6% recently announced by the National Economic and Social Development Council (NESDC).

The Office of the National Economic and Social Development Council (NESDC) has recently announced that Thailand’s Q3 2019 GDP growth came in at 2.4 percent, adjusting the overall GDP growth this year down to 2.6 percent, citing negative factors from the trade war affecting the export sector.

The aim is to boost the economy during the remainder of this year and the first quarter of next year

Finance Minister, Mr Uttama Savanayana 1. Grassroot economy  booster

The first package is to boost the grassroots economy and is divided into three sub-projects, namely a village fund for 71,742 villages graded…