Category: Business

Chonburi 27 May – The Stock Exchange of Thailand go ahead with the event "SET roaming" on site again after the spread of COVID-19 subsides, starting in Chonburi province, with both old and new investors actively clamoring for opportunities in the Thai stock market.

Come back again for good activities of the Stock Exchange of Thailand with the SET Traveling Event, this time going to the area to deliver knowledge and investment opportunities to investors in Chonburi and nearby provinces at the Novotel Marina Sriracha Hotel, Chonburi Province

Dr. Rinjai Chakornpipat, Deputy Manager, Head of Marketing Division The Stock Exchange of Thailand said that during the 3 years of the COVID-19 outbreak, the Stock Exchange of Thailand traveled. has changed the format to online and when the situation has been resolved therefore returned to carry out regular on-site events again. Because it is one of the provinces with a high investor growth rate of more than 20%, there are many working people living there. Most of the new investors coming in are teenagers of working age. The Stock Exchange of Thailand would like to introduce knowledge about accurate investments. to be able to plan investments as well as using appropriate investment tools with many experienced influencers joining in to introduce and share knowledge

It can be called that this job can be completed in one job. Because it's crowded all day With content covering both groups of working people, businessmen, and new generation entrepreneurs, there is also a special seminar “increase business opportunities. Increase investment opportunities with the mai stock exchange - LiVEx" for entrepreneurs, SMEs and Startup entrepreneurs, and at the event, there are also 18 leading brokers opening their booths. Ready to give advice, plan investments and open an investment account right away. .-Thai News Agency

Source: Thai News Agency

Bangkok, May 27 – The National Association of Swine Raisers announces the price of pigs at the farm. Today, it has been increased by 4 baht per kilogram in all regions. The reason for the excess amount of pork from "savage pork" began to run out from the market. Causing orders for pork in front of the farm to increase continuously But the current selling price is still lower than the cost of production.

The National Swine Raisers Association reported live pig market conditions in front of the farm today (May 27), in all regions, increasing the actual selling price by 4 baht per kilogram. The price is 74-79 baht/kg depending on each area. Caused by supply (supply) excess of "smuggled pork" which is smuggled. started to disappear from the market As a result, demand and orders for fattening pigs continued to come in. In addition, the Department of Internal Trade encourages farmers to continuously adjust farm prices towards costs in order to reduce losses from losses. The Pig Production Cost Analysis Subcommittee of the Pig and Product Development Policy Committee (Pig Board) estimated the cost of pig production in May at 98.93 baht per kilogram. In June, it will be at 90.57 baht per kilogram, which is still higher than the selling price.

As for swine prices in Asia, they gradually increased due to the African Swine Fever (ASF) outbreak in Vietnam.-Thai News Agency

Source: Thai News Agency

The Association of Southeast Asian Nations (ASEAN) has continued to strengthen economic cooperation through the ASEAN-Canada Free Trade Agreement (ACAFTA) negotiations to respond to the impacts of the ongoing global economic slowdown.

According to Nella Sri Hendriyetty, head of the Centre for Bilateral Regional Policy of the Indonesian Finance Ministry’s Fiscal Policy Agency (BKF), the negotiations are important for Indonesia to expand market access for both goods and services.

In her opening remarks at the Plenary and Caucus Meeting of the ACAFTA Sub Working Group on Financial Services held in Banten province from May 22–24, Nella affirmed that the effort could also increase competitiveness and help Indonesia enter global and regional value chains.

With the presence of representatives from ASEAN member countries, the ASEAN Secretariat, and Canada, the meeting was a key part of the ACAFTA negotiation process that aims to encourage economic growth, increase investment, and improve market access for Southeast Asian countries and Canada.

At the meeting, officials from institutions in charge of financial services of the ASEAN countries and Canada discussed various financial service provisions, which are expected to increase fair trade and investment for all parties in the sector./.

Source: Vietnam News Agency

Airports in Vietnam served up to 45.5 million passengers in the first five months of this year, an increase of 37.8% compared to the same period last year, according to the Civil Aviation Authority of Vietnam (CAAV).

Of the figure, there were 12 million foreigners and 33.4 million local passengers, marking a year-on-year rise of 679.6% and 33.4%, respectively.

In May alone, airports across the country served 9 million passengers, up 3.2% from the previous month.

Between January and May, Vietnamese airlines carried 22.4 million people, a year-on-year increase of 36.9%. Of the total, there were 16.7 million domestic passengers, up 5.7% from 2022.

The volume of foreign passengers reached 5.7 million, an increase of 5,525.1% higher than from the corresponding period last year.

The sudden rise in the number of passengers after more than two years of travel restrictions caused by the COVID-19 pandemic has led to an improvement in the business results of domestic airlines.

National flag carrier Vietnam Airlines saw revenue doubling year-on-year to 23.5 trillion VND (about 1 billion USD) in the first quarter of this year. It still reported a after-tax loss of 37.3 billion VND in the period, but it is a significant improvement compared to a loss of nearly 2.69 trillion VND in the same period last year.

The airline has restored its entire domestic flight network and resumed 90% of the international routes compared to the pre-COVID-19 pandemic.

Meanwhile, during the first three months of 2023, air carrier Vietjet posted revenue of 12.88 trillion VND and after-tax profit of 168 billion VND, increasing by 286% and 320% year-on-year, respectively.

Ancillary revenue, in particular, was reported at 4.31 trillion VND, accounting for more than 33% of the total revenue. The company’s consolidated revenue and after-tax profit were almost 12.9 trillion VND and 173 billion VND, respectively./.

Source: Vietnam News Agency

The total inflows of foreign investment in Vietnam this year to May 20, including new and added investment and contributions for share purchases by foreign investors, reached nearly 10.86 billion USD, down 7.3% year-on-year, but up 10.6 percentage points as compared with the figure in the first four months of this year, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment reported.

Of the sum, more than 5.26 billion USD was injected into 962 new projects, representing year-on-year increases of 27.8% in value and 66.4% in value, the agency said.

According to the agency, 1,278 transactions of capital contribution for share purchases were recorded in the period with a combined value of nearly 3.32 billion USD, down 5.6% in number of transactions but up 67.2% in value.

Nevertheless, 485 projects registered to adjust their investment with additional capital of nearly 2.28 billion USD, a drop of up to 59.4% from the corresponding time last year.

The processing and manufacturing sector was the largest recipient of FDI, with more than 6.64 billion USD, accounting for 61.2% of the total pledges, followed by finance-banking, real estate, and science-technology.

Among the 82 countries and territories investing in Vietnam during the period, Singapore took the lead with over 2.53 billion USD, making up more than 23.3% of the accumulative figure.

Japan and China came second and third with nearly 2.1 billion USD and some 1.61 billion USD, respectively. Other large investors included Taiwan (China), Hong Kong (China), and the Republic of Korea.

Foreign investments were poured into 50 out of the 63 cities and provinces, of which Hanoi received the most, with about 1.87 billion USD, accounting for about 17.2% of the sum, followed by the northern province of Bac Giang, and HCM City, Binh Duong, and Dong Nai provinces in the south.

However, HCM City topped the list in the numbers of new and adjusted projects, and capital contribution for share purchases./.

Source: Vietnam News Agency

Indonesia will continue exporting some raw minerals in 2024 in the context that domestic companies are rushing to finish smelters to process the metal ore, said Minister of Energy and Mineral Resources Arifin Tasrif.

The resource-rich country had planned to ban exports of all metal ore starting in June 2023 to encourage investment in the domestic processing industry.

But copper, iron ore, lead, zinc and anode mud from copper concentrates will be allowed to leave the country until May next year so smelters, many of which were delayed by the COVID-19 pandemic, would be ready to handle the materials.

The minister said banning exports prematurely would cost the country revenue and jobs.

Companies can keep exporting if they pay export duties and if their smelters were at least half-completed as of January. But they will be fined for every month of delay, Arifin noted.

The Indonesian government has said it would exempt copper miners Freeport Indonesia and Amman Mineral Nusa Tenggara from the ban as their smelter development was also disrupted by the pandemic.

However, bauxite shipments will be stopped in June, Arifin said, since four existing smelters can absorb ores intended for export.

However, Ronald Sulistianto, Chairman of Indonesian Bauxite and Iron Ore Companies Association, said there are only two operating bauxite plants in the country, producing 30 million tonnes.

In 2020, Indonesia banned exports of nickel ore, rattling global markets. But the policy resulted in massive inflows of smelter investment and helped boost the value of exports from the country./.

Source: Vietnam News Agency

Dozens of commercial banks have simultaneously decided to reduce deposit interest rates from May 25, after the State Bank's decision to cut policy interest rates.

After maintaining the highest deposit interest rate among the commercial banks for several days, at 9.2% per year, An Binh Commercial Joint Stock Bank (ABBank) has lowered its savings interest rates by up to 0.8%.

According to the interest rate for online saving and ABBank App, the savings interest rates for terms from 15 months and above, which stood at 9.2% per year for a long time, dropped sharply to 8.4% per year for the 15-month term (down 0.8%), and 8.5% per year for the terms of 18 months and above (down 0.7%).

Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank) also cut savings interest rates for the 4th time in a row since early May, down between 0.1 - 0.4%.

From May 26, Saigon Thuong Tin Bank Commercial Joint Stock Bank (Sacombank) also decreased deposit interest rates by between 0.1-0.4% for some terms. Meanwhile, Asia Commercial Joint Stock Bank (ACB) cut its savings interest rates between 0.2%-0.6%, with the sharpest decline recorded in the 12-month term with a drop of 0.6% to only 6.6% per year.

Notably, most banks reduced deposit interest rates for the three-month term, with the strongest decrease recorded at ACB (down 0.7 percent).

The group of the four biggest State-owned banks (Big 4) also continued to reduce deposit interest rates from May 26, with reduced rates from 0.1 - 0.7% per year.

Currently, the highest interest rate applied to this group is 7.2% per year.

The State Bank of Vietnam (SBV) has announced two decisions to further reduce policy interest rates, which will become effective from May 25, 2023.

According to the first decision, the interest rates of the overnight interbank electronic payment and compensatory lending for the capital shortfall in offset payments by the SBV will be reduced from 6.0% per annum to 5.5% per annum.

Under the second decision, the maximum interest rate of non-term and term deposits of less than one month remains unchanged at 0.5% per annum. The maximum interest rate of deposits with terms from one month to less than six months will be reduced from 5.5% per annum to 5.0% per annum.

The central bank’s decision to further cut the policy interest rates aims to stimulate economic growth, support liquidity in the interbank market, and provide favorable conditions for borrowing and lending activities within the banking system./.

Source: Vietnam News Agency

Bangkok, May 24- The Stock Exchange of Thailand Closed this morning at 1,541.56 points, an increase of 6.72 points (+0.44%), trading value of 22,072 million baht.

The SET closed this morning at 1,541.56 points, an increase of 6.72 points (+0.44%), trading value at 22,072 million baht. Analysts expect the Thai stock market to move up in a narrow range this morning. Asian stock markets After alleviating some concerns about political factors Yesterday, the leader of the ruling party spoke to the FTI, especially on wage issues that may affect the business sector. Although external factors are still unclear from the US debt ceiling increase that has not been finalized. The afternoon trend is expected to swing within a narrow frame, giving resistance at 1,545 points, support at 1,530 points.-Thai News Agency

Source: Thai News Agency