Foreign investment posts robust gain last month: Foreign investment rose in January, with applications approved by the Foreign Business Committee under the Foreign Business Act totalling 7.17 billion baht, up 39.8% year-on-year. Bangkok Post
EV board chair by PM granted new tax incentives for business that procure e-bus & trucks to promote manufacturing of commercial EV, corporate able to write off the purchase of e-buses & trucks worth 2 times the value if vehicle procured locally & 1.5x if imported, also approved measure to promote EV battery cell producers, foreign investors will be allowed to seek investment privileges & financial support from the Competitiveness Enhancement Fund under the BOI.
Thailand gets 5.2m international tourist arrivals year-to-date (Jan 1-Feb 18), 987,941 Chinese, followed by Malaysia at 641,605 boosted by visa-free policy & school holiday, Tourism Min.
SET’s planning to raise the market cap requirement for securities eligible for short selling, triple the fines for violators of short selling rules, and amend law to punish rulebreakers directly.
Domestic sales of pickups remain sluggish in Jan, down >43% yoy, as banks remain cautious in granting auto loans, says FTI.
Debt office considers foreign issue: Bond tactic helpful to manage risk. The Finance Ministry’s Public Debt Management Office (PDMO) is weighing whether to issue foreign currency-denominated bonds this March, after not doing so for more than 20 years. Bangkok Post; The Thai government plans to sell savings bonds worth 100 billion baht this fiscal year.: First tranche to be offered next month. The government will sell savings bonds worth 100 billion baht within the fiscal year, with the first issue worth 40 billion baht to be offered next month to help finance the budget deficit, says Bangkok Post
Cabinet greenlights final 2022/2023 cane price: The cabinet yesterday granted approval for the initial sugar cane price for the 2023/2024 season, set at 1,420 baht per tonne. The cabinet yesterday approved a final sugar cane price for the 2022/2023 season of 1,197 baht a tonne, 117 baht higher than the initial price set at 1,080 baht a tonne. Bangkok Post
SET vows tougher rules on short selling, trading: The Stock Exchange of Thailand (SET) is planning to raise the market capitalisation requirement for securities eligible for short selling and triple the fines for violators of short selling rules. Bangkok Post
Pickup sales plunge by more than 43%: Domestic sales of pickups remained sluggish in January, plummeting more than 43% year-on-year, as banks remain cautious in granting auto loans, says the Federation of Thai Industries (FTI). Bangkok Post
New incentives put focus on trucks: Perks for battery cell producers too. The National Electric Vehicle Policy Committee (EV Board) yesterday approved incentives to motivate companies to transition their commercial fleets of large trucks and buses to battery electric vehicles (BEVs). Bangkok Post
SJ
Don’t think all the EV incentives and investment will have the outcomes the government expects…
Pon
Who knows what they are thinking. I don’t know what I’m thinking 1/2 the time.