Category: Business

Bangkok, The Bank of Thailand does not oppose Digital Wallet, but if possible I would like to be specific to the group that is having difficulty. Worth the budget Points out that reducing interest rates is not the main tool to solve debt. Helps reduce short-term debt burden But the outstanding debt has increased in the long term. Ready to keep an eye on the Thai Bankers Association meeting this evening. Dr. Piti Disayathat, Assistant Governor Monetary Policy Line The Bank of Thailand (BoT) said at the Monetary Policy Forum No. 1/2024 after the Monetary Policy Committee (MPC) voted 5 to 2 to maintain the policy interest rate. at 2.50 percent per year on April 10, 2024, stating that interest is not the main tool for solving debt problems. It's just to help alleviate the problem. which in foreign countries Even though the flowers are reduced But it cannot solve the problem of high debt. Main factors to solve debt Must increase income from non-interest related forces such as improved exports Higher production. The MPC is ready to adjust interest rates. But we have to see if there are any big factors. Come in or not? And how sustainable is the impact? Is there enough impact on policy to make an adjustment? 0.25-0.50 doesn't have much effect on the big picture. In the case of the Thai Bankers Association Schedule a meeting this evening. After four banks representing the Thai Bankers Association met with the Prime Minister yesterday (April 23), if the focus is on helping vulnerable groups It is in line with the guidelines of the National Bank. to take care of this group since after COVID Depends on the Thai Bankers Association What measures will be taken? If it helps vulnerable groups, it's a good thing. It's a matter of market mechanisms. As for the 10,000 baht top-up project via Digital Wallet, the Bank of Thailand has no objections to the overall project. that the government will have measures to stimulate the economy But the matter of format, if possible I'd like to be specific. Help only groups that are in trou ble Worth the money and save budget and according to the framework that should be As for the action in which the government will use the financial resources from the BAAC, it must first be submitted to the Royal Decree for clear interpretation as to whether the financial resources can be used according to Section 28 of the Monetary and Fiscal Discipline Act or not. and depends on the BAAC board. The BoT is responsible for supervising general financial matters. does not have the authority to decide whether it can be done or not While Mr. Surat Thanboon, Senior Director The Monetary Policy Department of the BoT stated that the interest rate cut To help solve debt problems Helps reduce debt burden only in the short term. But it will result in an increase in outstanding debt in the long run. and increased debt Bank of Thailand Affects long-term economic growth, causing the Bank of Thailand to view that the current interest rate level of 2.50% is appropriate to help strengthen economic stability and support long -term risks. Source: Thai News Agency

Bangkok, RATCH Group Public Company Limited announced the appointment of Mr. Nitat Woraponpipat as Managing Director. Effective from 1 May 2024 Mr. Nitat Woraponpipat is considered a person with knowledge. Expertise and work experience covering all activities of the electricity generation business value chain, both fossil fuel and renewable energy types. as well as research and development of innovations and technologies that support the energy transition and support the goal of carbon neutrality and net zero greenhouse gas emissions. It will be integrated to determine the direction and growth strategy of the company. Both economic value Shared values ??that are passed on to society and environment as well as moving forward towards the company's carbon neutrality goal in 2050. Before assuming the position of Managing Director of RATCH Group, Mr. Nitat was assigned to serve in important positions. of the Electricity Generating Authority of Thailand, including the Deputy Governor of Fuel Assistant Governor f or Organizational Strategy Director of Electrical System Planning Director of Power Purchase Contracts Department In addition, he has been assigned to act as Chairman Technical Task Force No.3 Commercial Arrangement of the electricity integration project from the Lao PDR. Laos to Singapore via the transmission system of Thailand and Malaysia (Laos, Thailand, Malaysia and Singapore Power Integration Project: LTMS-PIP) Mr. Nitat is currently 53 years old and graduated with a Doctor of Philosophy degree. Department of Electrical Engineering Master of Engineering Department of Electrical Engineering and Bachelor of Engineering Department of Electrical Engineering from King Mongkut's University of Technology North Bangkok. In addition, he has also passed training courses in organizational leadership and administration, including the Director Certification Program (DCP 333/2023) and the Association's Successful Formulation and Execution of Strategy (In-house SFE EGAT 1/2020) course. Promote the Thai Institute of D irectors, Leadership Succession Program, Class 11, Foundation of the Research and Development Institute for Public Organizations Security Psychology Course, Class 119, Security Psychology Institute National Defense Studies Institute, etc. Source: Thai News Agency

House of Representatives, The Governor of the BoT wrote a letter to the Cabinet warning against moving forward with a 10,000 baht digital wallet, fearing that it would create a lot of debt. Mr. Setthaput Suthiwatnarueput The Governor of the Bank of Thailand (BoT) has written a letter to the Cabinet Secretariat dated 22 April 2024 to offer opinions for consideration at the Cabinet (Cabinet) meeting on 23 April 2024. that the 10,000 baht digital wallet top-up project is a large-scale project in the country It takes a lot of money. It may cause debt obligations to the government in the future as follows: 1. Necessity of the 10,000 baht digital wallet top-up project and its impact on the country's fiscal stability. Care should be taken to cover only the target group. In order to lighten the burden of living expenses Help stimulate the economy in an efficient and cost-effective manner. and use a reduced budget Especially vulnerable groups has not yet fully recovered, such as those with low incomes or 15 million welfare card holders, which can be processed immediately and a budget of only 150,000 million baht and should be done in phases (phasing) to reduce the impact on fiscal stability. The need to stimulate consumption on a large scale is not great. In 2023, Thailand's private consumption expanded by 7.1 percent, compared to an average expansion of 3 percent per year from 2010 - 2022. The 10,000 baht digital wallet top-up project creates a large fiscal burden in the long run. and if unable to stabilize the government debt burden It will increase the risk that Thailand's credit rating will be downgraded. For example, Moody's evaluation criteria has determined that the interest expense-to-income ratio of countries in the Baal group (Thailand's current rating) should not exceed 11 percent. that the digital wallet top-up project of 10,000 baht will cause rates to exceed the threshold in 2025 if Thailand is downgraded in its credit rating This will cause the cost of borrowing from the public and private sectors to inc rease. Increasing the loan limit for fiscal year 2025 to almost the full limit specified by law. This leaves another loan limit of approximately 5,000 million baht, compared to the average remaining balance of more than 100,000 million baht in previous years. This may affect the allocation of credit lines from the 2024 budget, causing the central budget to pay for emergencies or needs to decrease to the point that it may not be sufficient to support emergencies. Under the global political situation, uncertainty is high and natural disaster conditions are becoming more severe. The government should consider the value of using the budget of 500,000 million baht to invest in solving structural problems and raising the economic potential of the country in the long term. Examples of past budget uses include the Medical Personnel Development Project (using an average budget of 3.8 million baht per position), creating more than 130,000 medical personnel positions, the 15-year free education project for students na tionwide (83,000 million baht per year), supported for a long time. Up to 6 years, the double-track railway project from Nakhon Pathom - Chumphon (40,000 million baht per line) can develop more than 10 lines. The Blue Line Project (190,000 million baht per line) can develop more than 2 lines. 2. Source of funds for implementing the 10,000 baht digital wallet top-up project, with a budget of 500,000 million baht, taken from the expenditure budget. and borrow money from the BAAC, with the government accepting the burden of compensation for expenses or loss of income according to Section 28 of the Fiscal Discipline Act. It must not conflict with the control of the currency system. and providing financial assistance to farmers It should be legally clear that such actions are within the authority and authority and are governed by the law. Objectives of BAAC In order to ensure that the operation is carried out correctly and carefully, it is proposed that the Cabinet assign the Ministry of Finance to consult with the BoT Council of State as the person overseeing the risks and status of specialized financial institutions. There is concern that The government will assign the BAAC to support the digital wallet top-up project of 10,000 baht, with an outstanding debt burden with the BAAC of approximately 800,000 million baht. 3. The system developer for the 10,000 baht digital wallet top-up project is considered complex and must support a large number of users. Therefore, it must be a system that is efficient, stable and has sufficient security. In order not to cause systematic risk, the BoT is concerned about the development and operation of the system. Therefore, the PromptPay and Thai QR Payment systems should be used to avoid duplication. Reduce system development costs and make the most of it from existing payment infrastructure With the conditions for exercising rights being complex in many dimensions. Including being an open-loop system, it must connect to a variety of service providers. The structure should be de fined. and a clear system architecture as well as complete and concise development and testing plans in order not to cause systematic risk Supports a large number of users, preventing them from getting stuck or spending that is not in line with the project conditions. 4. Risk management of leaks or corruption Responsible agencies should establish mechanisms to reduce the risk of leaks or corruption. in various concrete steps Especially issues where problems should be expected from the beginning, such as guidelines for checking the income and assets of project participants to meet the specified qualifications. Preventing registration as a fake store Determining the type and size of stores to accommodate spending conditions on prohibited products. The BoT is of the opinion that Consideration of the framework of principles and Various details of the 10,000 baht digital wallet top-up project are detailed. Complicated, uses a large budget Affecting the fiscal burden in the long run There is a risk of leakage or corruption in various steps, so it must be fully tightened. Therefore, it is proposed that the Cabinet assign relevant agencies. Review and present additional information As well as creating guidelines or measures to solve various problems or risks in a concrete manner. Source: Thai News Agency

Bangkok, Hot to very hot weather continues during the daytime. Therefore, heat accumulates. As a result, electricity use broke the record for highest electricity use, exceeding 35,668.8 megawatts, an increase of 4.5% from 2023. The Electricity Generating Authority of Thailand said that due to the extremely hot weather this year Causing electricity use to continuously surge to record highs (peaks) Most recently, there was a new national peak on April 23, 2024 at 10:53 p.m. at 35,665.8 megawatts, with an average temperature of 31.5 degrees Celsius, with the highest demand for electricity occurring last night. Higher than last year by 1,535.3 megawatts or 4.5 percent due to hot to very hot weather conditions during the daytime. Therefore, heat accumulates. Resulting in the highest electricity usage. Breaking the record for highest electricity usage in the country and becoming a new record again. The previous record for the country's highest electricity use was Occurred on April 22, 2024 at 10:57 p.m. at a lev el of 35,550.9 megawatts. On April 22, 2024, the average temperature throughout the country was approximately 35-38 degrees Celsius. While the record for highest electricity use in 2023 occurred on May 6, 2023 at 9:41 p.m. at a level of 34,826 megawatts. This is only in April this year, when the weather is extremely hot. As a result, electrical peaks have occurred 4 times. Source: Thai News Agency

Bangkok, The SEC revealed that in the first quarter of 2024, it has prosecuted 14 cases of corruption against listed companies and unfair trading or stock manipulation. As for civil cases since 2017, perpetrators have been agree More than 1,566 million baht has been paid back to victims. Mr. Anek Yuyuen, Deputy Secretary-General and Spokesperson of the Securities and Exchange Commission (SEC), revealed at the April 2024 media briefing that the SEC currently has 2 matters in progress. It is 1. Regarding the enforcement of past laws and starting to see results including various lawsuits. 2.About the development of the capital market By enforcing the law in the first quarter of 2024, 14 cases have been prosecuted against offenders, such as corruption cases of listed companies. Unfair trading or stock manipulation, of which 14 such cases are divided into 11 cases of accusations against investigators, while the other 3 cases are civil actions. However, since 2017, there have been 61 civil cases punished. There a re people 241 people committed crimes, which the perpetrators have agreed to comply with, which is to pay back more than 1,566 million baht to the victims, and of these, there are 25 cases that have not complied, but 18 cases have already been filed, while the other 7 cases are pending. File a lawsuit As for capital market development, the SEC will bring technology to use in the capital market. Improving the rules for trading digital tokens in soft power businesses such as music and drama businesses will help support influencers, songwriters, and filmmakers, which will be a mechanism for the economy to improve. It is expected that This May we will be open for comments. For investment scams this year From January to March There are 300-400 whistleblowers per month, so far there are more than 1,000 cases. The SEC has measures to block websites, Facebook, TikTok and Instagram. The fastest within 15 minutes or the slowest within 24 hours. Source: Thai News Agency

Bangkok, SET closed this morning at 1,360.90 points, an increase of 3.44 points (+0.25%), trading value approximately 20,063 million baht. Morning stock trading The index moved mostly in positive territory. The highest point was 1,364.91 points and the lowest was 1,355.44 points. Source: Thai News Agency

Bangkok, GPSC joins hands with Seaborg from Denmark to study opportunities for developing clean energy with SMR technology. It is expected to study the feasibility within 4 years. Mr. Worawat Pittayasiri, Chief Executive Officer and President of Global Power Synergy Public Company Limited or GPSC, the innovation leader in the electricity business of PTT Group, revealed that GPSC has signed a cooperation agreement with Seaborg Technologies Company. ApS, developer of SMR (Small Modular Reactor) technology, Denmark. To study the feasibility of developing SMR power plant technology, which is a technology that is highly safe. Does not release carbon dioxide into the atmosphere Therefore, it is an important alternative for producing additional clean energy from renewable energy sources in Thailand. which will answer the need for environmentally friendly electricity production The study will take approximately 4 years (between 2024-2027). For this cooperation Both sides will jointly study the possibility. Covers technology, safety, environment, law, risk factors, marketing and business development. including guidelines for infrastructure development and the appropriateness of the location and size of the electricity generating unit, approximately 200-800 megawatts, along with learning and exchange technological knowledge with each other To prepare both organizations for implementing the SMR power generation unit project in Thailand along with creating understanding with all sectors. Both government agencies Regulatory unit including the social sector and the public to build confidence and understanding of effective management systems It is very important to study the feasibility of SMR technology. In addition to studying the feasibility of hydrogen technology (Hydrogen) and carbon dioxide capture technology (Carbon Capture and Storage - CCS) that GPSC is already conducting. Source: Thai News Agency

Bangkok, SET closed today at 1,361.10 points, an increase of 3.64 points (+0.27%), trading value 38,553.81 million baht. Stock trading today The index swings in positive territory within a narrow range. It made the lowest point of 1,355.44 points and the highest point of 1,364.91 points. As for securities, today's change increased by 203 securities, decreased by 239 securities, and remained unchanged in 211 securities. Source: Thai News Agency