1. Government’s cash handout program of Bt40b for elderly is expected to be delayed to Feb, as some cabinet members raised queries.
2. PM axes plan for VAT hike: Admits 15% ceiling would affect public. Prime Minister Paetongtarn Shinawatra has put the brakes on a plan to raise value-added tax (VAT) following a public backlash after her finance minister floated the controversial idea. Bangkok Post
3. Energy minister postpones 2,180mw renewable PPA (600mw wind & 1,580mw solar) phase 2 auctions indefinitely as Energy Regulatory Commission (ERC) seeks interpretation on clause that allows those who missed 1st round bid to join 2nd round auction.
4. Government unveils debt-relief measures to cover $26b loans. Banks will help with loan restructuring, funding for interest waiver and other reliefs will partly come from a 50% cut in the fee banks paid to a bailout fund for financial institutions, FIDF. For non-bank lenders, Government will provide Bt50b of cheap loans at 2% and offer a funding of as much as Bt3b.
5. Transport Ministry mulls opening bid for 6 dual rail projects (phase 2) combined worth Bt290b in Jan, aims to open bid 2 routes Bt81.14b Paknam Pho-Denchai (281km) and Bt44.09b Jira-Ubonratchathani (307km) next year.
6. S&P maintains TH credit rating at BBB+ and expects GDP growth at 2.8% this year and 3.1% next.
7. Thai property developers are projected to post profits more than 10% lower this year because of weak demand.: Weak demand hits the property market. The combined profits of listed housing developers are expected to decline by more than 10% this year compared with 2023, driven by intense market competition and aggressive discount campaigns to capture dwindling demand. Sumitra Wongpakdee, managing director of property research and consultancy Terra Media and Consulting, said a sluggish market prompted developers to make significant adjustments this year. Bangkok Post
8. Modest growth likely for Thai vehicle production in 2025: Challenges from 2024 will persist, especially those related to lending, says BMI. Thailand’s automotive sector continues to face significant economic and financial headwinds as of the third quarter of 2024. According to data provided by the Asean Automotive Federation, total vehicle sales declined by 25.3% yearon-year as of September 2024 to tally 438,303 units. Bangkok Post
9. Gulf CEO remains richest investor: Sarath Ratanavadi, the founder and chief executive of Gulf Energy Development Plc, one of Thailand’s largest power producers, is the richest shareholder in the Thai capital market with wealth of 240 billion baht, according to a survey by Money & Banking magazine and the commerce and accountancy faculty of Chulalongkorn University. Bangkok Post
10. MR. D.I.Y. aims to open 200 stores in 2025: Retailer sets aside 2 billion baht for plan. Aggressive expansion the past few years reflects the company’s confidence in the Thai home improvement market, said Andy Chin, chief executive of MR. D.I.Y. Holding (Thailand) Plc. The company opened 122 new stores in 2021, 161 branches in 2022 and 188 last year, he said. Bangkok Post

Bonus 3

1. Pichai touts debt relief measures: Minister wants 2025 growth of 3.5%. Finance Minister Pichai Chunhavajira says he expects the government’s latest debt relief measures, including interest suspensions and reductions in principal payments, to address household debt and drive economic growth to at least 3% next year. Bangkok Post
2. Auto sales rut to drag on for years: Hyundai calls for state assistance. Sluggish car sales are expected to plague the Thai automotive industry for at least another 1-2 years, with total domestic sales projected to plunge to 560,000 units in 2024, says Hyundai Mobility Thailand, a subsidiary of South Korean automaker Hyundai Motor Group. Bangkok Post
3. Debt office lines up sustainability-linked bond for 2025: The Public Debt Management Office (PDMO) plans to issue a sustainabilitylinked bond (SLB) worth 100 billion baht next year to offset the government’s budget deficit. Bangkok Post  Ministry allots B20bn for Thai Airways stake: The Finance Ministry is allocating 20 billion baht to purchase additional shares in Thai Airways International Plc on Dec 12, raising the ministry’s stake in the national carrier to 40% from 30%. Bangkok Post