1. Household debt in 1Q24 fell to 90.8% of GDP (Bt16.37trnl) from 91.4%, household debt stood at Bt16.37trnl, unchanged qoq.
2. PM approval rating hit a fresh low of 12.85% in a quarterly survey by NIDA, falling from 17.75% 1Q24 and 22.35% late last year, Pheu Thai’s approval fell to 16.85% from 22.1%, while MFP ranked first with 49.2%, up from 48.45%.
3. Myanmar Central Bank denied UN report that its military government’s used Thai banks, among others, to access money and weapons for its war against anti-coup forces.
4. S&P Global Thailand June Manufacturing PMI rose to 51.7 from 50.3 in May, highest reading since Jun 2023.
5. Buyers without borders: The government wants to liberalise foreign property ownership rules to make them more attractive, but fears of market distor tion have led to calls for a tighter framework, Mr Vichai says condo demand from foreign buyers has continued to grow, unlike demand from Thais, which has weakened. The cabinet last month resurrected the controversial issue of offering more welcoming residential property measures for foreign buyers. The previous government attempted to do likewise, but eventually pulled back after receiving overwhelming negative feedback. Bangkok Post
6. Fin Min plans to complete proposal in 2 weeks to establish a new fund resembling the Vayupak Fund, expecting to draw Bt100b into the capital market.
7. BOI reported investors submitted application to develop data center total 37 project combined Bt98b.
8. Auto output could hit 14-year low: Brokerage predicts production slump. Thailand’s automotive production could plunge to a 14-year low this year, excluding the pandemic years of 2020-22, dipping to 1.65 million units, though monthly production is expected to start improving slowly in the fourth quarter, says Krungsri Securities (KS). Bangkok Post
9. Deputy Transport Ministry mulls proposing Bt340b TH-China rail project (phase 2) Nakhon Ratchasima-Nongkhai to cabinet aft State Railway board signed off blueprint in Sept.
10. TH welcomed 17.5m international tourist in 1H24 +35% yoy, Chinese tourist made up the largest with 3.43m, followed by 2.43m from Malaysia & 1.04m from India, maintain 36.7m FY tourists target, Ministry of Tourism & Sports.

Bonus 17!

1. 1H corporate bond issuance dropped 19.3% yoy, on rate outlook.
2. The cabinet’s decided to halt the operations of duty-free shops on arrival in international airports to encourage greater spending by visitors in domestic stores, in a bid to add an estimated Bt3.5b to econ circulation.
3. Cabinet okays further B276bn borrowing: Much of the funding for digital wallet. The cabinet has approved an additional 276 billion baht in borrowing for fiscal 2024, of which 269 billion is for direct government use as well as funds for state enterprises to restructure debt. According to deputy government spokeswoman Rudklao Intawong Suwankiri, the cabinet meeting yesterday approved a proposal by the Finance Ministry to revise the public debt management plan for fiscal 2024. Bangkok Post
4. Airport duty-free shops shuttered to raise tax revenues: The cabinet has decided to halt the operations of duty-free shops on arrival in international airports to encourage greater spending by visitors in domestic stores, in a bid to add an estimated 3.5 billion baht to economic circulation. Bangkok Post
5. Deputy Transport Ministry mulls proposing Bt340b TH-China rail project (phase 2) Nakhon Ratchasima-Nongkhai to cabinet aft State Railway board signed off blueprint in Sept.
6. TH welcomed 17.5m international tourist in 1H24 +35% yoy, Chinese tourist made up the largest with 3.43m, followed by 2.43m from Malaysia & 1.04m from India, maintain 36.7m FY tourists target, Ministry of Tourism & Sports.
7. The EC didn’t announce the official results of the Senate election as expected yesterday as more time was needed to handle a swath of complaints over the dubious qualifications of certain senators-elect.
8. The rapidly expanding EV market could face setbacks if insurance companies refuse to provide motor protection for EVs, says the Thai Automotive Industry Association (TAIA), following report some had stopped providing coverage for EVs.
9. The cabinet’s decided to halt the operations of duty-free shops on arrival in international airports to encourage greater spending by visitors in domestic stores, in a bid to add an estimated Bt3.5b to econ circulation.
10. TRIS Rating reported 20 companies out of 220 under coverage recovered credit downgrade in 1H, sees challenging outlook on hire-purchase and real estates.
11. World Bank promotes investment: Infrastructure upgrade needed. The World Bank has urged the Thai government to beef up investment in ageing infrastructure and strengthen the green economy to improve the country’s economic potential beyond 2.7% in the medium term. Bangkok Post
12. Ministry preps stimulus measures: B100bn soft loan package planned. The Finance Ministry is quickly preparing a proposal to the cabinet for soft loan and tax measures to stimulate investment, says Deputy Finance Minister Paopoom Rojanasakul. Bangkok Post
13. Digital wallet scheme signs up vendors: Eligible people and shops can start registering for the scheme by the third quarter. The Commerce Ministry says up to 1.6 million vendors are ready to join the digital wallet scheme, which is expected to pump up the economy, increase store income and reduce the cost of living. Bangkok Post
14. Digital wallet uses app verification: Tang Rat to stagger the process. Thais will be required to verify and authenticate their identity, known as know-your-customer (KYC) procedures, for the digital wallet project through the state-developed “Tang Rat” super app. Bangkok Post
15. 3% growth potential ‘for the next 5 years’: The country’s economic growth potential is expected to hover around the 3% mark for the next five years, a decline from the 3-3.5% growth potential reported in the years before the Covid-19 pandemic, according to Bank of Thailand governor Sethaput Suthiwartnarueput. Bangkok Post
16. Fuel consumption decreases 0.4%: Mr Sarawut says the consumption of gasoline and gasohol fell slightly by 1% to 31.5 MLD, attributed to an 8% rise in the retail prices of gasohol 95 and gasohol 91 since May. Thailand’s total fuel consumption dipped by 0.4% year-on-year to 157.1 million litres per day (MLD) between January and May, attributed to higher energy prices and the country’s economic slowdown, says the Department of Energy Business. Bangkok Post
17. Residential market index in 1Q24 dropped for the 6th consecutive quarter, plunging to a low point post-pandemic as GDP growth slowed to 1.5%, Real Estate Info Center (REIC).