1. Condo transfers by foreigners in 2Q24 fell 6.2%, while value dropped 17.7% yoy, due to difficulties in fund transfers, while demand still robust, mostly from Chinese, Myanmar, Indian and Russian, reported REIC.
2. The lese majeste case against Thaksin was adjourned until July next year following the examination of witness and evidence lists yesterday.
3. NESDC keeps GDP growth forecast at 2.3% – 2.8% with an avg of 2.5% for this year, but advises government to speed up implementing measures to boost the economy and prepare the 2025 budget to address economic volatility caused by global crises.
4. Foreign tourist arrivals rose to 22.5m from Jan 1-Aug 18, 4.6m Chinese, 3.1m Malaysians, 1.3m Indians. Arrivals -9.9% yoy to 677,409 in the week ended Aug 18, Government keeps 36.7m target this year.
5. The government allocated 5 billion baht to develop skilled workers in AI, EVs and semiconductors.: Initiative targets 3 strategic sectors. The Ministry of Higher Education, Science, Research and Innovation (MHESI) has set aside a 5-billion-baht budget to develop 17,500 highly skilled workers within five years to serve three strategic sectors: semiconductors, electric vehicles (EVs) and artificial intelligence (AI). Bangkok Post
6. Five local and regional consortiums are expected to apply for 3 Thai virtual bank licences next month.: Regulator issuing only 3 licences. The Bank of Thailand requires virtual banks have minimum registered capital of 5 billion baht initially. Five business groups are expected to apply for the Bank of Thailand’s virtual bank licences, including both Thai and regional operators. Bangkok Post
7. PTT plans to emphasise electric vehicle charging services, targeting 7,000 outlets by 2030.: Firm targets 7,000 outlets by 2030. National oil and gas conglomerate PTT Plc aims to focus more on electric vehicle (EV) charging services in line with Thailand’s expanding EV market, but will consider adjusting its other EVrelated businesses, including its electric car assembly operations. Bangkok Post
8. 10K wallet still ‘to proceed’: Funds to be given to ‘vulnerable’ first. The Pheu Thai Party’s flagship digital wallet handout policy is expected to proceed, with funds to be distributed in cash to vulnerable people first via the welfare card, according to a source. Bangkok Post  BoT leaves interest rate unchanged: Economic optimism keeps level at 2.5%. The Bank of Thailand’s Monetary Policy Committee (MPC) kept the policy rate steady at 2.5% yesterday, in line with the local economic recovery. Bangkok Post
9. Temu dents Thailand Post’s logistics for e-commerce: State agency keen on ties with China firm. The entry of Chinese e-commerce behemoth Temu is affecting Thailand Post’s logistics service for other e-commerce platforms as its volume declined by 20-50% per day from July, said the company. Bangkok Post
10. Thaksin pitches strategies to reform and boost economic growth yesterday at a function attended by >1,400 bankers, businessmen and politicians, pushing for household debts to be solved, support for entertainment complex (casino), tech and data center, cash handout to people on government welfare and later to greater public, setting up of infra fund, Vayupak Fund, creating more jobs, soft power, and speeding up talks on joint development to the dispute area with Cambodia.

Bonus 1

1. Changan EV factory slated for Q1: Changan Automobile’s first electric vehicle manufacturing plant in Southeast Asia is set to open in Thailand in the first quarter of next year, with a total investment budget exceeding 10 billion baht. Bangkok Post