B400bn necessary for rehabilitation : With exports and tourism likely to slow until early next year because of the coronavirus crisis, Thailand desperately needs to inject 400 billion baht worth of spending slated for economic and social rehabilitation by June, says Deputy Prime Minister Somkid Jatusripitak. Bangkok Post
Auto lenders post marginal loan growth : Five auto loan service providers eked out 0.9% growth in total loans outstanding for the first quarter from the end of last year, as positive activity in the first two months was offset by the coronavirus impact in March. Bangkok Post
State enterprises veer off remittance target : The coronavirus pandemic is expected to wipe off up to 37 billion baht from state enterprise revenue remittances, resulting in a 20% shortfall from the target for fiscal 2020. Bangkok Post
Regulator eyes creation of local OTT platforms : NBTC clarifies development urgent. The development of over-the-top (OTT) platforms by Thais is needed to ensure the benefits will not fall solely into the hands of big foreign players, says the National Broadcasting and Telecommunication Commission (NBTC). Bangkok Post
Central Group approves B 2.3 bn reply to PM’s call : Central Group has approved 2.3 billion baht to boost the sustainable grass-roots economy, including 1.5 billion baht to buy products directly from growers and community enterprises, including farm produce and SME products, for sale in stores to support 25,000 farmer households in 42 provinces. Bangkok Post
Shippers maintain full-year view of 8% export decline : Despite the easing of lockdown measures and higher demand in several export categories, Thailand’s shipments are still forecast to contract by 8% this year, says a key trade group. Bangkok Post
Covid-19 benefit boost sought : 75% of daily wages eyed for SSA-insured. The Labour Ministry will seek cabinet approval for a large hike in compensation payments to workers insured under the Social Security Act who have lost their jobs or were suspended from work due to the Covid-19 outbreak, according to Labour Minister MR Chatu Mongol Sonakul. Bangkok Post
Interest-free SME loans from KBank : 41,000 employees expected to be saved. Kasikornbank (KBank) has launched a 1-billion-baht loan scheme, offering interest-free borrowing for the first year to small and medium-sized enterprises (SMEs) with up to 200 employees as a way to keep 41,000 workers on payroll during the pandemic. Bangkok Post
Govt mulls easing more curbs : Malls, large retailers next on reopen list. Shopping malls and large retail outlets selling construction materials will be allowed to reopen as lockdown measures are eased further on May 17 if there is no surge in new infections. Bangkok Post
Joint panel’s trade view decays as global virus fallout deepens: Thai exports in 2020 are likely to contract by 5-10%, worsening from an earlier projection of a 2% decline, as a result of the coronavirus outbreak’s effect on the global economy, says the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB). Bangkok Post
