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Bangkok’s largest shopping mall expects to reopen in six months

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UPDATE : 4 June 2010A top executive of Central World, the shopping mall severely damaged by an arson attack during the red-shirt riots, expects it can reopen in six months.Managing Director of Central Pattana or CPN Kobchai Chirathiwat said the company still has not been able to evaluate the extent of damage to Central World but he expected the insurance company will release its estimation in two or three weeks.

Kobchai said the collapse of Zen department store that shares the same building structure with Central World will have no effect on the latter as Zen covers only 10 percent of the 500,000 square meters of Central Worlds total space.Kobchai expected Zen to reopen in 14 months while Isetan, on the other side of Central World, will reopen in a month. The rest of Central World should reopen in six months.The CPN executive revealed the reconstruction at Central World will begin this month and its vendors can tenants can set their shops in two or three months.He also disclosed Central Worlds office building, the Centara Grand Hotel and the Bangkok Convention Center has resumed services since June 1.

via Thai-ASEAN News Network.

Bangkok is now recovering from 10 weeks of anti-government demonstrations that shut down much of the city.

1,400 entrepreneurs victims of Thailand’s turmoil seek government helpMore than 1,400 entrepreneurs and others who suffered losses totaling Bt2.7 billion inThailand’s recent political violence registered to receive assistance from the government from May 21-23.Chaired by PMs Office Minister Sathit Wongnongtoey, the newly-set up committee tasked with helping entrepreneurs and other individuals affected by political violence will meet Monday at Government House.

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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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