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The Central Group, Thailand’s largest retailer to review investment plan

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The Central Group, Thailand’s largest retailer, will revise its medium-term investment and business plans after suffering devastating losses at its flagship CentralWorld mall earlier this month.

The Zen Department Store was destroyed and the main mall damaged in the riots that broke out nationwide on May 19 in clashes between red-shirt protesters and security forces.

Prin Chirathivat, the Central Group's executive director for finance, said the group would revise its 16-billion-baht investment plans for the year in the wake of the riots.

He said following a visit to CentralWorld yesterday that a final tally on the losses suffered by the group had yet to be made, nor was it known how much compensation would be paid by insurers.

via Central to review investment plan.

Banking

Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures

The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.

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BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.

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Economics

Thai Government Plans to Increase 2022 Investment Budget by 90 Billion baht ($2.84 bln)

According to the 2022 fiscal budget bill, which has public spending set at 3.1 trillion baht, accounting for 17.9% of GDP, the government would need to borrow 700 billion baht to offset the deficit.

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BANGKOK (NNT) – The Budget Bureau notes that the Thai government plans to increase its investment budget by 90 billion baht in the fiscal year 2022, in compliance with a law related to state financial and fiscal discipline.

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