Thailand Morning News For May 19

Thailand Morning News For May 19

Thailand morning newsEconomist blames government for inefficient budget management
THE GOVERNMENT’S move to increase the central fund demonstrates that state agencies are functioning poorly, said Sakon Waranyuwattana, dean of Thammasat University’s faculty of economics.
– The Nation

Thailand 4.0: Investing in Aviation and MRO Development
2017 is going to be an important year for Thailand’s future. The Thailand 4.0 governmental investment program is likely to change the country and catapult it in a new, advanced era.
– AviationPros

Car export in April drops 14.37 percent
Car export for the month of April dropped 14.37 percent to 68,900 units from last April’s 80,400 units, representing the lowest export in 48 months, said Mr Surapong Paisitpattanapong, spokesman of the automotive industry of the Federation of Thai Industries.
– Thai PBS

Embezzlement-temple scandal ensnares property titan
The Department of Special Investigation (DSI) said Thursday it has sufficient evidence to press charges against property tycoon Anant Asavabhokin for money laundering in connection with the Klongchan Credit Union Cooperative (KCUC) embezzlement case.
– Bangkok Post

Mackerel boost hailed in IUU fight
The Department of Fisheries says an increase in mackerel stocks in the Gulf of Thailand over last three years is proof the country is on the right track in managing marine resources as demanded by the…
– Bangkok Post

Agriculture Ministry orders a cleanup of all cooperatives
The Cooperatives Promotion Department has been instructed by the agriculture minister to check and grade all the cooperatives throughout the country in a bid to clean up cooperatives in the wake of mismanagement at Noppaklao Ruamjai savings cooperative.
– Thai PBS

Ophir drilling more wells, adding platform at Bualuang offshore Thailand
Ophir Energy has committed to a fourth phase of development of the Bualuang oil field in the Gulf of Thailand, with a projected investment of $145 million between now and 2020.
– Offshore

Bank of Thailand Likely to Keep Key Interest Rate unchanged at 1.5 Pct in May
Thai central bank, the Bank of Thailand, is set to have its policy meeting next week. According to a Scotiabank research report, the BoT is expected to maintain its key interest rate at 1.5 percent.
– ForexTV

AIS banks on 4G revenue boost
Advanced Info Service (AIS), the country’s largest mobile operator, expects its cash flow to improve in 2017 thanks to a sharp rise in 4G customers, who contribute a higher gross margin.
– Bangkok Post

NLA gives nod to one percent VAT increase and “windfall tax”
The National Legislative Assembly has approved a tax reform package report of the Committee on Economic, Monetary and Financial Affairs which include, among others, a recommendation that value-added tax be increased by one percent to 8 percent and the introduction of “windfall tax”.
– Thai PBS

PTTEP plans for output to meet demand
PTT Exploration and Production (PTTEP), the only SET-listed upstream petroleum company, aims to produce at least 300,000 barrels of oil equivalent per day (boed) of petroleum to maintain its earnings and…
– Bangkok Post

CHIANG MAI HAS WORST SMALL PARTICLE POLLUTION IN THAILAND: GREENPEACE
Chiang Mai is Thailand’s most-polluted city in terms of dangerously small pollutants which kill tens of thousands in Thailand annually, Greenpeace announced Wednesday.
– Khaosod English

France’s Engie working with Thai partner on energy solutions
Engie Group, one of the world’s largest energy groups, is interested in expanding its products and services, particularly business-to-business energy-efficiency and renewable-energy solutions, in support of the “Thailand 4.0” master plan.
– The Nation

Thailand opens window for Viu
Viu, the OTT service from Hong Kong-based telecoms and media group PCCW, is launching in Thailand following a tie-up with local telco Advanced Info Service (AIS).
– C21Media

VGI boosts revenue 30% despite slump in media spending
VGI, operator of a data-centric media hypermarket, announced its operating results for 2016-17, with a 30 per cent year-on-year rise in revenue despite shrinking media spending.
– The Nation

Thai Intouch’s VC arm to finalize two deals this year
Thai telecom company Intouch Holdings Pcl on Thursday said its venture capital arm plans to finalize two deals by mid-year.
– Reuters

Higher pilot retirement age urged
The National Legislative Assembly transport committee has proposed that the Civil Aviation Authority of Thailand (CAAT) ask the relevant state agencies to revise rules to raise the retirement age of pilots to 65 years as part of the effort to solve the shortage of pilots.
– The Nation

Gen Prayut disbands Farmers’ Fund board
In his capacity as head of the National Council for Peace and Order, Prime Minister Prayut Chan-ocha ordered the disbandment of the board of Farmers Rehabilitation and Development Fund, citing its incompetency and lack of transparency in the management of the fund to resolve farmers’ indebtedness.
– Thai PBS

Thai travel start-up secures investment from Dusit International
favstay Pte. Ltd., a Thai hospitality start-up offering condos and villas for rent in Thailand’s top destinations, has secured a US$1 million investment from Thailand-based, global hospitality company Dusit International.
– eTurboNews

Thailand’s Junta Sees ‘One Belt, One Road’ as Potential Source of Legitimacy
Three years after the coup that brought the junta led by Gen. Prayuth Chan-och to power in Thailand, China remains a staunch ally, declining to weigh in on Thailand’s domestic affairs. In an email interview, Pavin Chachavalpongpun, associate professor of political science at Kyoto University’s Center for Southeast Asian Studies, describes the bilateral relationship as well as the role Thailand might play in China’s One Belt, One Road initiative.
– World Politics Review

CIVIL COURT REJECTS CITY’S CHALLENGE TO BTS ACCESSIBILITY SUIT
The Civil Court said Thursday it has the authority to consider a class-action suit filed against City Hall for failing to make the BTS Skytrain system accessible to people with disabilities.
– Khaosod English

Origin Property acquiring Proud Residence for $116m, PN Capital exits
Thai listed property developer Origin Property Pcl has bought out stakes held by London-based real estate investment firm PN Capital and other shareholders in Bangkok-based Proud Residence for 4 billion baht ($116 million).
– Deal Street Asia

Hope for Thailand’s struggling rubber farmers
In some respects, it would stand to reason that Thailand’s earnest and hard-working rubber farmers are struggling at present.
– Farminguk

Developers investing in ‘proptech’ start-ups
Some of Thailand’s property firms have expressed interest in collaborating with and investing in start-ups to create property technology (proptech) to support business growth for the long term.
– The Nation

Thai energy company buys wells in Pa. Marcellus shale
Kalnin Ventures LLC is purchasing interest in 34 wells in the Marcellus shale, the fourth such acquisition in just over 22 months in the oil and gas play. The wells are located in Wyoming County, Pennsylvania, in the northeastern corner of the shale play.
–Farm and Dairy

Thai teacher humiliates students by shaving their heads
A Thai maths teacher has boasted proudly of humiliating students by shaving some of their hair.
– Prachatai English

 

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John Le Fevre

John Le Fevre

Managing Editor at AEC News Today
John is an Australian national with more than 35 years experience as a journalist, photographer, videographer and copy editor. He has spent extensive periods of time working in Africa and throughout Southeast Asia. He has covered major world events including the 1991 pillage riots in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010 and 2014 Bangkok political protests. In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak. Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post.

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