Insurance companies will likely stop making lump sum Covid insurance payments as the number of local cases has surpassed 200,000, leading firms to review the processes of their products, says Anon Vangwasu, president of the Thai General Insurance Association (TGIA).
PM orders B7.5bn of aid: Prayut ‘unfazed’ by flak over new curbs. Prime Minister Prayut Chan-o-cha has insisted he is unfazed by critics of the government’s handling of the worsening Covid-19 situation after some called on him to step down. Bangkok Post
Quasi-lockdown in capital to cost B140bn: The 30-day temporary lockdown of all construction sites and worker camps in Greater Bangkok will cost 140 billion baht and have a ripple effect across all supply chains in the construction and property sector with unpredictable losses. Bangkok Post
Thailand’s scrapped its policy of compulsory hospital admission for covid patients, allowing people with low risks or no symptoms to isolate at home as treatment facilities in Bangkok run out of beds amid a surge in infections.
Donated 1.05m doses of AZ vaccines from Japan are set to arrive on July 9.
The cabinet approved an Bt8.5b relief package to help ease the impact of latest Covid control measures, including a ban on dining in at restaurants and closures of construction sites in BKK and five surrounding provinces.
Deputy PM target 725k domestic EV production outputs, 40 GWh battery outputs p.a & 12k charging stations by FY30.
Council predicts 1.4m foreign arrivals: Foreign tourist arrivals could tally 3 million this year under the best-case scenario, while the tourism confidence index in the second quarter plunged to its lowest point as 2 million people lost their jobs, according to the Tourism Council of Thailand (TCT). Bangkok Post
Bloomberg: Thai banks can persevere despite risks from outbreak, as capital reserves are robust in our stress-case scenario, even as Covid-19’s impact dents their asset quality. SCB’s capital still outperformed peers under severe stress despite its biggest share of loans under relief. TTB’s post-shock capital ratio is worst, yet still able to support its 2021 loan growth target. KBANK’s Tier 1 is about 6% above min hurdle of 9.5%.
State mulls B60bn in salary co-payment: The government looks set to allocate about 60 billion baht to support a fresh 50% co-payment subsidy for the monthly salaries of employees of small and mediumsized enterprises (SMEs), in a move to deter mass layoffs in the country. Bangkok Post
