Connect with us

Corporate

Bangkok Mass Transit Authority (BMTA) estimates protest loss around Bt75 mn

The red-shirt rallies in Bangkok are estimated to have cost Bangkok Mass Transit Authority (BMTA) around Bt75 million from March 12 to the end of April, a source at the state agency said yesterday.

Aishwarya Gupta

Published

on

Thailand's economy

The red-shirt rallies in Bangkok are estimated to have cost Bangkok Mass Transit Authority (BMTA) around Bt75 million from March 12 to the end of April, a source at the state agency said yesterday.

Excerpt from:
BMTA estimates Bt75 mn loss

Although private investment has joined the rebound in Thai economy, the outlook remains weak relative to other demand

Key risks to the outlook are (i) political uncertainty and (ii) the timing of the withdrawal of fiscal and monetary stimulus. Increased political tensions may have a long-lasting impact on investment, and withdrawal of stimulus (in Thailand and the advanced economies) must be precisely timed to avoid macroeconomic imbalances (including new asset bubbles) while also ensuring that the recovery is on a sufficiently solid footing.

The approved Financial Institution Business Act (FIBA) facilitates increase in foreign ownership in Thai foreign institutions. The Financial Institution Business Act (FIBA) became effective on 3 August 2008 as planned. The FIBA allows financial institutions to raise the foreign limit from 25 percent to 49 percent with permission from the BOT and foreign investors may own more than 49 percent equity stake in Thai banks with permission from the Ministry of Finance and recommendation by the BOT. The increase in foreign limit would encourage Thai banks to seek foreign strategic partners to strengthen the capital base, improve core banking business, IT platform, know-how and add inorganic growth to Thai banks.

Comments

Banking

Can the Subscription Economy Save Financial Services?

Going back to the pre-Covid “normal” is not an option for financial services. Fortunately, the rise of the subscription economy points towards frontiers of untapped growth for the sector.

Avatar

Published

on

As the world waits for mass vaccination to revive economic activity, general malaise has overtaken the financial services industry (FSI). And things will probably worsen before they get better: US banks are expected to suffer US$318 billion in net loan losses by the end of 2022, according to Deloitte.

(more…)
Continue Reading

Companies

Thai firms tops the world’s sustainability ranking by S&P Global

Boris Sullivan

Published

on

The Stock Exchange of Thailand revealed that 11 Thai firms have been awarded in Gold Class, the world’s highest ranking by number in sustainability aspect in “The Sustainability Yearbook 2021” conducted by S&P Global.

(more…)
Continue Reading

Corporate

Thailand’s Latest Tax Relief Package for Businesses

Thailand’s government has issued its latest tax relief package to assist businesses impacted by the pandemic that includes the reduction of land and building tax by 90 percent for 2021, in addition to extending the filing deadline for personal, value-added, and withholding tax.

Avatar

Published

on

On January 26, 2021, Thailand’s government issued its latest tax relief package for businesses, as it continues to offer initiatives to alleviate the economic impact caused by the pandemic.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,634 other subscribers

Trending