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.
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.
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.
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…)
Thai firms tops the world’s sustainability ranking by S&P Global
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…)
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.
SET News :Thailand tops the world’s sustainability ranking by number with 11 firms selected as ‘Gold-Class’ by S&P Global
SET News 9/2021 February 10, 2021 Thailand tops the world’s sustainability ranking by number with 11 firms selected as ‘Gold-Class’...
How much do you need to retire in Thailand?
The lowest in Southeast Asia is Indonesia at USD290,599, followed by Malaysia at USD321,614. Vietnam is competitive at USD353,906. Cambodia...
ASEAN builds up minerals cooperation
The two-day workshop discussed the initial findings and recommendations from the drafts of the DPAMC Study and the AMDIS Scoping...
Traveloka to launch financial services in Vietnam and Thailand
Traveloka, which says it has 40 million active monthly users, is developing “buy now, pay later” services for Vietnam and...
Singapore’s Resilience Package: Support for Businesses and Jobs in 2021
The maximum loan quantum for domestic projects is S$30 million (US$22.7 million) and the government’s risk-share of loans is up...
US pledges to enhance cooperation with Mekong subregion’s countries
The US will bolster support for countries in the Mekong subregion through the Mekong-US partnership, US Principal Deputy Assistant Secretary...