2 ballot change ‘problematic’: Rule rewrite may leave small parties frozen out of new system, critics say. The process to revise two organic laws on the election of MPs and political parties to reflect charter changes has begun in earnest. Bangkok Post
Narongsak courted as new city governor: A source in the Palang Pracharath Party (PPRP) said the ruling party is planning to field Pathum Thani governor Narongsak Osottanakorn as a candidate in the Bangkok electoral race, which is likely to take place in April next year. Bangkok Post
Inflation set to increase next year: Rising product prices based on higher demand and persistently high oil prices are expected to drive Thailand’s headline inflation to grow by 0.7% to 2.4% (an average of 1.5%) next year, from 0.8% to 1.2% this year, according to the Commerce Ministry. Bangkok Post
Crypto currency trading account has jumped from 170K at end of 2020 to 1.6m accounts at end November 2021, with 90% are retails.
Foreign inflow: A group of brokerages projects funds from overseas investors could total 100 billion baht in the Thai bourse next year. The Thai stock market will see at least 100 billion baht of foreign inflows next year if the government succeeds in preventing the emergence of a new outbreak, according to the Federation of Thai Capital Market Organizations (Fetco). The Thai bourse is expected to be less affected by the Federal Reserve’s tapering of its asset purchases and interest rate hikes thanks to Thailand’s strong economy and high foreign reserves. Bangkok Post
Hold the line: Housing market the beneficiary in 2022. The central bank is calling for an extension of property tax incentives until the end of next year to help the market. The government should extend its property tax incentives to next year to drive housing market growth in 2022, in line with the projected economic recovery, the Bank of Thailand suggested. Bangkok Post. Cabinet approved the extension of an earlier reduction in land and building taxes for two more years as a way to minimize the impact from the pandemic.
Organizer reported 13k vehicles booked half way of a 2 weeks event of BKK Motor Expo event, maintaining 30k units target by end of year event.
The BOT’s concerned about the use of digital assets to pay for goods and services because of their price volatility, told banks to avoid direct involvement in trading of digital-assets, urged finance institution to focus on safety & stability as they are responsible for people’s deposits, not supporting digital assets as means of payment for good & services.
Executives urge pricier loans for used cars, bikes: The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) has asked the government to increase the maximum interest rate for used car and motorcycle loans to encourage leasing companies to lend to lowerincome earners. Recently the Office of the Consumer Protection Board proposed a maximum rate of 15% per year for all types of vehicle loan products, including new car loans, used car loans, and motorcycle loans. Bangkok Post
Ford announced plans to invest Bt28b, the highest of its FDI in TH over 25 years, to expand production capacity of Ranger pickup truck & Everest SUV to 270k units p.a. for global exports >100 countries worldwide.
