1. Transport Min’s ordered disciplinary action against the Pink Line, operated by BTS’s Northern BKK Monorail (NBM), after the crew opened a malfunctioning carriage door attempting to close on a bag, without waiting for a train to return to the station.
2. Excise Dept seeks an additional budget of Bt7b from Cabinet to subsidize the purchase of 35K EVs from this year thru 2027.
3. Tourism Authority of Thailand (TAT) is targeting 7.5% rev growth or Bt3.4trnl in 2025, while private operators suggest offering subsidies for airfares to accelerate income.
4. Finnomena Group said only 2% of its Bt45b AUM in 1H24 is in TH equity.
5. Labor and Fin Min mull proposing cabinet today to cut individual monthly contribution to SSO to 3% from 5% of salary to help employers & workers, may be negative to BCH & CHG.
6. EC under new pressure to act: Candidates want to give coup-era senate the boot. Political pundits and Senate election winners are calling on the Election Commission (EC) to announce its endorsement of the 200 election winners so as to prevent exisiting Senate from remaining in their position. Bangkok Post
7. BoT views household debt trend as easing: The Bank of Thailand anticipates a further decline in the country’s household debt-to-GDP ratio, supported by the Thai economic recovery and slower loan growth. Bangkok Post
8. The government plans to continue pursuing crude palm oil exports in an effort to steady local prices.: Shipments expected to steady prices. Thailand expects to export 800,000 tonnes of crude palm oil this year, aiming to stabilise the prices of local fresh palm nuts. Wattanasak Sur-iam, directorgeneral of the Internal Trade Department, said the local price of domestic fresh palm nuts continues to improve, increasing to more than 5 baht per kilogramme after plummeting in April to May because of a glut. Bangkok Post
9. Local executives question increasing Thailand’s strategic petroleum reserve.: Government wants to increase its reserves. The government’s recent proposal to increase the country’s oil reserves sparked criticism among energy representatives. The government’s plan to increase Thailand’s strategic petroleum reserve (SPR) faces resistance from executives in the oil refining and ethanol production sectors, who point to financial challenges.
10. Handout details on July 24: E-wallet scheme to go live later this year. The government will announce all of the details of its digital wallet handout scheme on July 24, according to Deputy Finance Minister Paopoom Rojanasakul. Bangkok Post

Bonus 16 (there’s just too much goodness)

1. Chinese EV price cuts receive green light: Regulator says BYD complied with law. The Trade Competition Commission of Thailand (TCCT) says price wars among electric vehicle (EV) dealerships do not violate the trade competition law, but rather foster competition. Bangkok Post
2. Slim growth in Thai oil and condensate: Sustained high prices support increased drilling, but gains could be limited, according to BMI research. Source: Department of Mineral Fuels, Energy Policy and Planning Office, BMI estimate. Thailand faces a structural decline in proved oil reserves, but a notable increase was achieved in 2022, driven by accelerating drilling activities in the Gulf of Thailand. The 15% year-on-year increase in proved oil and condensate reserves — about 45 million barrels in all — came entirely from the G1/61 and G2/61 offshore blocks operated by PTT Exploration and Production Plc (PTTEP). PTTEP now accounts for a sector-leading 57% of the country’s total proved condensate reserves.
3. Tourism Ministry would like to see TAT’s tourism revenue target for 2025 be higher than Bt3.5trnl sought for this yr.
4. Honda Automobile (TH) plans to cease car manufacturing at its Ayutthaya factory, shifting focus to the expansion of its Prachin Buri facility to enhance its competitiveness in the EV segment.
5. GAC Aion Thai factory capacity 50k EV output p.a. to cod next week, the first plant outside China and will produce right-hand drive models.
6. Honda switches focus to Prachin Buri: Honda Automobile (Thailand) plans to cease car manufacturing at its Ayutthaya factory, shifting focus to the expansion of its Prachin Buri facility to enhance its competitiveness in the electric vehicle (EV) segment, according to the company. Bangkok Post
7. Thai banks’ asset quality risks low: Risks well recognised and appropriately large buffers built up, according to Fitch Ratings. Source: Fitch Ratings, Bank of Thailand. Thailand’s banking sector faces lingering asset-quality risks, but these are unlikely to impact banks’ standalone credit profiles significantly in the near term, according to Fitch Ratings. Bangkok Post
8. Government’s plan to reclassify cannabis as narcotic has fueled rift between the PM and its key coalition Bhumjaithai Party, who’s championed the policy to decriminalize cannabis. Concerns over Government’s stability kept popping up from time to time, while recent polls had the Pheu Thai Party trailing behind the opposition MFP.
9. The EC certified the results of the 1st Senate contest since 2014 coup, paving the way for amending the military-backed charter.
10. No electrical appliances, electronic devices or communication devices will be covered by the Bt10K digital money handout scheme, government’s sub-committee working on the details of the plan said yesterday.
11. MOF is planning to hold discussions with commercial banks regarding the possibility of extending the home loan repayment period up to a max age of 85 among borrowers in an effort to stimulate local demand amid the economic slowdown.
12. Beyond Security has temporarily suspended margin service, activated margin call on those major shareholders who pledged >30% of their share to curb downside.
13. SCB launches EASY-D debenture account to support the deposit of THB corporate debentures via SCB EASY application, no need to hold debentures in scrip, offering BUY-SELL debenture in secondary mkt on app, user-friendly for tracking & debenture subscription service, aims to boost revenue from digital business to 25% of total revenue by end of FY25.
14. Fitch downgrades based on financial leverage: Fitch Ratings Thailand downgraded three large local companies in the first half of this year based on their weakened ability to repay debt, attributed to increased financial leverage. Bangkok Post
15. Strict loan rules weigh on vehicle sales: Little chance for a second-half rebound given debt pressure, say BMI analysts. We have turned negative on Thailand’s vehicle sales for 2024 after recording weakerthanexpected sales results for the first four months of the year, and showing little potential for a rebound over the second half of 2024 due to debt pressure. Vehicle sales in Thailand experienced a significant 24% year-on-year decline in the first four months, with only 46,738 units sold, according to the Asean Automotive Federation (Asean Autofed). This figure is a decrease from the 59,530 units recorded during the same period in 2023. Initially, we had projected growth of 6.1% for vehicle sales in 2024, following a poor performance in 2023, when sales dropped by 8.7%. Bangkok Post
16. Stocks used as collateral ID’D : The SET has listed stocks used as collateral in margin accounts, warning investors of risks for stocks that are forcibly sold. The Stock Exchange of Thailand (SET) released a list of stocks yesterday that have been used as collateral in margin accounts, warning investors about risks for stocks that are forcibly sold, as prices can drop drastically and the major shareholders can change. Bangkok Post