Corporate
PTT wins US$300 million loan from Japanese banks
PTT has won a US$300 million (about Bt10 billion) credit facility from Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corp and Mizuho Corporate Bank, reflecting the sustained confidence in the company’s operations as well as the entire Thai economy.
PTT has won a US$300 million (about Bt10 billion) credit facility from Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corp and Mizuho Corporate Bank, reflecting the sustained confidence in the company’s operations as well as the entire Thai economy.
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PTT wins US$300 mn loan from Japanese banks
Thailand government’s first stimulus package, may have helped limit the negative multiplier effect on household consumption.
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.
Automotive exports – the second largest item in the country?s exports after electronics – fell sharply early this year by about 45 percent from a year before. (During 2009, exports slumped through May before rebounding in the third quarter, although data of late suggest some leveling off of foreign demand.) Compared with electronics, automotive exports are half as large in value but have twice as large value-added per unit of output, leaving the contributions of both sectors to GDP about equal.
Despite the rebound, Thailand’s export recovery is still subject to several downside risks
The key risk to the global recovery lies in the need to get the timing of withdrawing fiscal and monetary stimulus just right. Withdrawal of fiscal stimulus too early may lead to another negative demand shock and a negative expectations spiral, whereas withdrawing the stimulus too late may lead to high inflation, further weakening of the US dollar, and possible asset price bubbles. In Thailand, for example, more than ten years since the 1997/1998 financial crisis banks still have bad loans in their books and the government still holds a large amount of debt related to the recapitalization of financial institutions. Given the expected length of recovery, it is important not to withdraw stimulus programs too soon, before the recovery is on a firm footing. On the other hand, macroeconomic imbalances are accumulating and eventually fiscal and monetary authorities, especially in the US, must consolidate their fiscal position and withdraw liquidity.
PTT wins US$300 mn loan from Japanese banks
Most of the infrastructure development in Thailand has been responsive to demand rather than forward-looking. Availability and accessibility appear to no longer be a challenge. The next step for Thailand is to put more emphasis on quality of service delivery, management, and sound regulation.
Business
Thailand’s automotive sector expected to produce 1.4m cars this year
This increase in output is a result of the recovery of domestic and export markets, with the annual output for 2021 expected to be around 1.4 million.

Thailand Automotive Institute (TAI) anticipates the overall output from Thailand’s automotive sector this year to be around 1.4 million cars. They are, however, still cautious over automobile exports until at least March this year, due to the resurgence of COVID-19 cases around the world.
(more…)Corporate
Giant Thai-Chinese wholesale hub opens in Bangkok’s Pratunam
The region’s largest wholesale hub features products from China at wholesale prices, and products from Thai manufacturers to export to China.
Business
Thailand remains in pole position for the highest funds raised across Southeast Asia
Taking the top two spots on the region’s leaderboard this year are Thailand’s Central Retail Corporation Public Company Limited and SCG Packaging Public Company Limited with US$1.77 billion and US$ 1.27 billion funds raised respectively

THAILAND, 26 November 2020 — Capital markets across Southeast Asia stayed resilient in 2020 despite a host of uncertainties from the evolving global health crisis to the worsening US-China trade tensions and the impact of the US presidential elections.
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