Practice what you preach: If politicians opt to enact populist proposals, funding them will require some hard choices. Political parties promised several populist pledges for the general election to entice voters, including a controversial 10,000-baht handout via digital wallets to those aged 16 and over; a hike in minimum daily wages to 600 baht; an increase of minimum monthly salaries for university graduates to 25,000 baht; debt suspension for farmers; an immediate cut in electricity tariffs; and a rise in the monthly allowance for people aged 60 and over to 3,000-5,000 baht, up from 600-1,000 baht. Bangkok Post
Ministry estimates B2tn available for party pledges: The new government will have room to spend at least 2 trillion baht to fulfil its populist campaign pledges, according to a Finance Ministry source who requested anonymity. It is estimated that more than 500 billion baht may be required to finance the 10,000-baht handouts via digital wallet promised to people aged 16 and older by Pheu Thai Party, which is a leading contender to form a new government. Bangkok Post
Chon Buri to get new EV battery factory: Chinese high-tech enterprise Anwha (Shanghai) Automation Engineering has chosen Thailand’s Eastern Economic Corridor as its first overseas production base to make batteries for electric vehicles (EVs) under the MG brand. Bangkok Post
Historic win faces hurdles: Senators could block winner’s choice of prime minister, Leader Pita promises MFP will be ‘fast and meticulous’. The Move Forward Party’s (MFP) bid to form a governing coalition may not be plain sailing after a number of senators made it clear they will not support its prime ministerial candidate. Bangkok Post Victorious parties urged to move fast: Firms say coalition must be formed soon. The business sector is calling for a new government to be quickly established and its policies to be agreed upon by the coalition parties, saying this will greatly affect the country’s confidence. Bangkok Post
Call for fast formation of government: Mr Channarong said several Move Forward Party policies would benefit the property sector. The Khon Kaen Chamber of Commerce is calling for a rapid endorsement of the election results to facilitate the timely injection of the fiscal 2024 budget into the Thai economy. Bangkok Post
Housing markets in 1Q23 showed negative trends, will need to rely on foreign demand to stimulate growth, as domestic buyers are facing challenges in obtaining loans, Real Estate Info Center (REIC).
Developers take a hit as LTV easing ends: Most saw residential sales revenue decline. Homebuyers were clearly impacted by the expiration of the loan-to-value limits easing. VICHAI VIRATKAPAN Acting director-general, Real Estate Information Center. The expiration of the easing of loan-tovalue (LTV) limits has had an impact on two-thirds of listed developers, resulting in residential sales revenue declining year-on-year in the first quarter of 2023. Bangkok Post
Aeronautical Radio of TH reported TH-CH flights +98% yoy to 12,805 for 7mths of fiscal year 2023 (Oct 22-Apr 23), expects FY23 (end of-Sept) >46,175 flights.
Stocks rise, fears subside: Election result led to 3 days of decline. The Stock Exchange of Thailand (SET) returned to positive territory yesterday after falling for three consecutive days following Sunday’s election, with the victorious Move Forward Party (MFP) announcing a plan to form a coalition government with 313 members of parliament. The SET index joined a regional rally among Asian bourses, tracking overnight gains on Wall Street, as concerns about a US debt default subsided. Market sentiment expects US President Joe Biden and House Speaker Kevin McCarthy, political opponents, to reach an agreement on a debt ceiling extension by Sunday, according to analysts. Bangkok Post
