Note: There’s 18, a lot of interesting news this week.

1. State Railway (SRT) in talks government think tank, NESDC, to establish procurement plan for 184 e-trains to replace existing diesel engine under Bt15b budget, mulls proposing to new cabinet in 2H.
2. The BOT plans to further relax FX rules to balance capital flows, seeking to stabilize the FX rate over the long term, allowing individuals to invest up to $10m in offshore markets, from $5m, cross-border money transfer to $200K from $50K now.
3. Japanese eye EEC outlay of B3.7bn: At least three Japanese firms are expected to invest roughly 3.7 billion baht in industries such as electric vehicles (EVs) and smart electronics in the Eastern Economic Corridor (EEC), says the Industrial Estate Authority of Thailand (IEAT). Bangkok Post
4. Thai exports expected to improve in H2: Thai export prospects should improve in the second half of this year as the global economy recovers and conditions are enhanced among trading partners, says the Commerce Ministry. Permanent commerce secretary Keerati Rushchano said the baht exchange rate remains competitive, while the ministry has plans to ramp up market expansion later this year into seven regions and specific clusters, starting with food and fruit in the province of Yunnan and the city of Nanning in China. Bangkok Post
5. Revenue goal surpassed: Government revenue for the first eight months of fiscal 2023 beat its target by 122 billion baht, said the Fiscal policy office. The Revenue Department — the country’s largest tax collection department — collected 1.30 trillion baht, exceeding the target by 134 billion baht, or 11.5%, which was 4.4% higher than the corresponding period last year. Bangkok Post
6. Small hotel policy gets THA approval: New rule to regulate more small hotels. The Thai Hotels Association (-THA) approves of the Ministry of Interior’s new regulations that will allow smaller accommodation operated prior to 2016 to be regulated as hotels, as the government would be able to receive more income from tax collection. Bangkok Post
7. Thailand’s inequality remains entrenched: The Thai economy is suffering from widening inequality, with the proportion of poor people still hovering at 6-8% of the total, particularly in the agricultural sector. Bangkok Post
8. SEC warns of prison time for Stark fraudsters: Members of the management team and others involved in the fraud surrounding Stark Corporation (STARK) could face up to 10 years in prison if found guilty, the Securities and Exchange Commission (SEC) said yesterday, as it tried to restore confidence in the Thai capital market. Bangkok Post
9. Chinese arrivals may be <5m this year, well below govt’s f/c of 7m, on visa issue and poor confidence, said ATTA.
10. TH’s top three banks have combined NPLs of >US$9.6b, the highest in SEA, but overall, still have a high level of reserves for bad debts, Federation of Thai Capital Market Organizations (Fetco).
11. FTI’s firm on 2.1m units TH motorcycle production this year, including 1.75m for domestic mkt and 350K for exports.
12. The selection of the new House speaker will take place on July 4 as the MFP and Pheu Thai Party seem to have reached a deal for MFP to have a House Speaker post, in exchange for MFP supporting Pheu Thai’s PM candidate if Pita stumbles on the legal challenges he is facing.
13. FPO requests debt restructuring: Extending the tenor proves inadequate. The Fiscal Policy Office (FPO) is calling on state financial institutions and commercial banks to implement debt restructuring measures to reduce the debt repayment burden rather than extending the repayment period, says director-general Pornchai Thiraveja. Bangkok Post
14. Steps sought to reduce costs: FTI survey results reflect concerns. FTI members seek new measures to help cut their operating costs, including a decrease in electricity bills and logistics costs. Manufacturers want the government to boost exports despite facing what appears to be an uphill struggle after witnessing a decline in export value over a period of eight consecutive months, according to the latest survey conducted by the Federation of Thai Industries (FTI). Bangkok Post
15. Complaint filed over more scam: Regulator fingers 32 over manipulation. The SEC has filed a complaint against 32 individuals for their involvement in the share manipulation of more return. The Securities and Exchange Commission (SEC) has filed a complaint with the Economic Crime Suppression Division (ECD) and the Anti-Money Laundering Office (Amlo) against 32 individuals for their involvement in the 800-million-baht share manipulation of More Return Plc (MORE). Bangkok Post
16. Thai banks top Asean bad debt rankings: Thailand’s top three banks have combined non-performing loans (NPLs) of more than US$9.6 billion, the highest in Southeast Asia, but Thai banks overall still have a high level of reserves for bad debts, says the Federation of Thai Capital Market Organizations (Fetco). Bangkok Post
17. World Bank puts Thai growth at 3.9%: Thailand’s economy is projected to expand 3.9% in 2023 from 2.6% last year because of stronger demand from China, Europe and the US, private consumption growth and a recovery in tourism, says the World Bank in its semiannual Thailand Economic Monitor. Growth is expected to moderate to 3.6% next year and 3.4% in 2025, with tourism and private consumption remaining the primary drivers of growth while external demand weakens, according to the report. Bangkok Post
18. DIF Web Portal ushers in electronic bond offerings: The Stock Exchange of Thailand (SET) has joined forces with the Association of Thai Securities Companies and the Thai Bankers’ Association to launch a digital infrastructure for fully electronic end-to-end bond offerings. The end-to-end system covers issuance, filing, subscription, payment and delivery. Bangkok Post