October 2, 2020

Thai Enquirer Summary

Political News

Security agencies said they are keeping a close watch on a major student rally scheduled

during October 4-6 organised by the United Front of Thammasat and Demonstration, led

by pro-democracy student Panasaya “Rung” Sitthijirawattanakul.

A Thammasat University committee organising activities to mark 44 years of the

October 6, 1976, massacre yesterday (October 1) held an exhibition to

commemorate the October 6 massacre at Thammasat University’s Tha Phrachan

Campus and Sanam Luang field from October 1 to 11.

The event will be highlighted with a seminar, a concert, the screening of

important historical events during October 4-6. Panasaya, student activists Parit

“Penguin” Chiwarak, human rights lawyer Anon Nampa, key leaders of the Free

People Movement leader and the ‘Bad Student’ movement will be joining the

event.

The United Front of Student Mahasarakham University for Democracy is set to

hold a major rally at the university campus from October 4.

Still with the protest news. As the “Bad Student” Movement is set to stage a rally in front

of the Ministry of Education late today (October 2) to protest against Education Minister

Nattapol Teepsuwan for failing to solve problems of alleged harassment of students at

schools and beatings of kindergarten children. The rally is set to begin from 13.00 hrs at

Samsenwittayalai School.

Nattapol has come out to say that the ministry is ready to listen to students and let

them express their views. However, he has assigned Amporn Pinasa, acting

Secretary-General of the Office of the Basic Education Commission to receive

students.

Additional charges have been filed against 7 leading anti-dictatorship protest figures for

staging a protest against the arrest of Anon Nampa, a human rights lawyer and monarchy

reform critic, in front of Bangkhen Police Station on 7 August without informing the

police.

The 7 were charged with staging a public gathering without informing the police,

unauthorized use of sound amplifiers and blocking traffic. All denied the charges

and said they would testify later. Lawyers from Thai Lawyers for Human Rights

(TLHR) were present to represent them.

Parit ‘Penguin’ Chiwarak, a student activist who was among those summoned,

said the summonses were political prosecution to harass those that oppose the

government.

Parit then burned his summons as an act of defiance toward the Thai judicial

system. The other 6 followed suit.

Deputy Interior Minister Niphon Boonyamanee has been found guilty of negligence of

duty by the National Anti-Corruption Commission (NACC) in failing to pay a

maintenance cost of 50,850,000 baht to Ponlavit Tech Plus Company Limited when he

served as chief executive of Songkhla Provincial Administration Organization (PAO).

The anti-graft agency found Niphon at fault after he broke a contract made

between Songkhla PAO and Ponlavit Tech Plus on May 31, 2013. Niphon

defended his action by saying that complaints were made against the company for

price collusion.

However, the Administrative Court in Songkhla ruled on November 7, 2017

against the Songkhla PAO, ordering it to pay a fine of 52 million baht for

breaching the contract with Ponlavit Tech Plus.

The NACC is set to hold a press briefing to elaborate on its guilty verdict against

Niphon soon.

Former finance minister Uttama Savanayana and spouse possessed 230.823 million baht

in assets and no liabilities between them after Uttama left his post Minister of Finance

earlier this year.

As per the rules each politician has to send in his/her asset declaration before and

after taking the office to the National Anti-Corruption Commission (NACC).

Uttama reported assets worth 117.163 million baht while his spouse had

assets worth 113.660 million baht, most of which were investments

totalling 44 lists including Bualuang Long-Term Equity Fund; Bualuang

Thossaphol open-ended fund; debentures of Siam Cement Group (SCG);

debentures of True Move H Universal Communication and debentures of

several listed firms like Berli Jucker Plc; Thai Beverage Plc and Sansiri

Plc.

Their other assets include land plots in Lan Luang, Sukhumvit, Cha-am

district worth a combined 44 million baht; 25 savings accounts worth

24.263 million baht; 6 vehicles worth 20.1 million baht. Interestingly, one

of the vehicles obtained on July 25, 2014 is worth 10 million baht.

As expected, Sompong Amornwiwat was re-elected as leader of the opposition Pheu Thai

Party at the party’s general assembly yesterday (October 2) which also sees 24 new

executive members being elected.

The meeting elected 10 deputy leaders, a secretary-general, 5 deputies and 4

executive committee members. Khunying Sudarat Keyuraphan, former strategic

chief of the party, and close aides were not elected to the party’s new structure,

except Anudit Nakorntab who was among 10 new deputy leaders.

Other deputy leaders are

Kittirat na Ranong

Chusak Sirinil

Kriang Kaltinant

Yutthapong Charassathien

Pichai Naripthapant

Suthin Klangsaeng

Chaiya Promma

Pol Gen Somsak Chathanping

Anusorn Iamsa-ard

The new secretary-general is Nakhon Ratchasima MP Prasert Jantararuangtong

who is recognised for coordinating factions of northeastern MPs.

Former Thai Raksa Chart candidates Arunee Kasayanon became party

spokeswoman.

Sompong spelled out 4 priorities, with the restoration of true democracy in

Thailand and to join with all political groups to amend the Constitution being his

1st priority.

The 2nd

priority is to alleviate the hardships of the people, especially those of low-

income earners and the unemployed, affected by the deepening economic crisis,

Sompong said.

The 3rd

priority the Pheu Thai Party will do is to mobilize all the resources, both

within and outside the party, to implement its policies.

The last on his list is to promote the use of technology as a tool to enhance

communication between the party’s MPs and their constituents and to support the

learning process of the people so they can solve their own problems.

Sompong dismissed the speculation that Khunying Potjaman na Pombejra, ex-

wife of fugitive former prime minister Thaksin Shinawatra will be controlling the

party closely. He also said there is no indicator that her son-in-law Nuttaphong

Kunakornwong would join the party.

However, several newly elected executives are close to Thaksin and his sisters

Yingluck Shinawatra and Yaowapha Wongsawat.

Graft buster Vicha Mahakun submitted his proposals for a revamp of the justice system

after his review of the hit-and-run case involving the Red Bull scion.

Vicha made recommendations in a 4-page report containing observations that

police probes lack independence and are prone to graft, while evidence can be

tampered with and facts can be distorted.

On the charter amendment issue, Kao Klai (Move Forward) Party list MP

Rangsiman Rome came out to turn down Deputy Prime Minister Gen Prawit

Wongsuwan’s invitation to the Opposition camp to join the House panel assigned

to study 6 charter amendment drafts before the panel accept the charter

amendment bills.

Rangsiman perceived Gen Prawit’s offer an attempt to buy time, saying that more

talks are necessary.

A report said the panel resolved to appoint a sub-panel to consider legal issues

regarding charter amendments. The panel has invited Pheu Thai key figures

Chaikasem Nitisiri and Chusak Sirinil to join the sub-panel. However, both

figures have reportedly turned down the invitation.

The government’s royal gazette yesterday (October 1) announced the revocation of the

police ranks and royal decorations of 10 police officers including Pol Lt Chaowarin

Latthasaksiri.

Chaowarin was stripped of his police rank and royal decorations for embezzling.

Chawarin served as an advisor to former deputy prime minister Kowit Wattana.

He is a former Pheu Thai MP and ex-deputy education minister. He also served

as a senator in Ratchaburi.

Shopee, an online sales platform like Lazada or Amazon has come out to bank the sale of

political party’s goodies.

The ban was implemented against the brand ‘DemocStore’ an online sales

platform of the ‘Progressive Movement’ of the now defunct Future Forward Party

lead by Thanathorn Juangroongruangkit.

Pannika Wanich, the spokeswomen of the ‘Progressive Movement’ came out to

say that this was not the 1st time that their online has been disrupted because the

online platform ‘Shopee’ has been making up excuses to put out their planned

sales of goodies.

Pannika said that there was a need for ‘Progressive Movement’ to raise

funds and by selling goodies online is one of the fastest ways although she

added that the group was looking to set up a new platform to sell its goods

without having to rely on the likes of ‘Shopee’.

Economic News

New Bank of Thailand governor Setthaput Suthiwart-Narueput officially took office

yesterday (October 1), succeeding Veerathai Santiprabhob, whose 5-year term expired at

the end of last month.

Setthaput is Thailand’s 21st central bank governor.

Finance Ministry permanent secretary Krisda Chinavicharana said he will deliver

his policies to high-ranking ministry executives today (October 2). Krisda said the

ministry had witnessed improvement in many economic indicators.

The ministry will also examine each business sector, one by one, as part of its

efforts to tailor relief measures to their specific needs.

Veerathai Santiprabhob (now former BoT governor) handing over the

mantle to Setthaput Suthiwart-Narueput (the new BoT governor)

Still with the Ministry of Finance, Finance Ministry permanent secretary Krisda

Chinavicharana said the ministry is considering more stimulus packages to support the

property sector and increase consumption.

Krisda said in his first day in office yesterday (October 1) he would meet with

senior officials to discuss ways to help the economy recover from the COVID-19

impact in the short and medium term.

The ministry will look into:

Which businesses or groups of people require more support after the

government has been implementing Covid-19 relief packages, assisting

small businesses and low-income groups.

Which real estate segments need helps, especially high-rise or

condominium developers who are facing difficulty due to oversupply of

residential units and a decrease in people’s purchasing power.

Whether to resume the shopping package, known as “Eat, Shop and

Spend”, which subsidised people shopping for goods, travel and dinning

at restaurants.

The Federation of Thai Industries (FTI) said it is monitoring 3 factors that can pose risks

to the Thai economy in the last quarter of this year.

Kriangkrai Tiannukul, FTI vice-chairman, identified 3 factors that could cause

further damage to the Thai economy as:

The risk of a 2nd wave of the outbreak once the reopening of the country

for tourism to welcome long-stay tourists.

Political rallies that are set to escalate in October unless rallies do not

spiral out of control and are carried out under the rule of law.

The person who will become a new finance minister. Credibility of a new

finance minister will help boost public trusts and confidence among

business sectors.

The public debt level rose to 47.90 per cent of GDP to 7.66 trillion baht in August 2020,

up 1 per cent or 100 billion baht from July, according to latest date from the Public Debt

Management Office (PDMO).

The office expects the public debt level at the end of the fiscal year 2020 or the

end of September to rise to 8 trillion baht or more than 50 per cent of GDP,

against the value of GDP expected to fall below 16 trillion baht.

The government took in 2.15 trillion baht in the first 11 months of the fiscal year

2020 (October 2019-August 2020), below the target by 293 billion baht or 12 per

cent due to shortfalls in revenue contributions from state agencies.

The Ministry of Finance already informed the cabinet that the government’s net

revenue collection for the fiscal 2020 will fall below target by 390 billion baht.

Eight hundred workers at Panasonic Corp in Thailand have been laid off since September

30 as the Japanese appliance-maker Panasonic Corp plans to move its Thai-based

production of refrigerators and washing machines to Vietnam in March next year.

Panasonic Management Thailand said it had informed workers in advance since

April this year and that the company prepared to pay compensation to laid-off

employees as required by law and other remediation payments.

Siam Commercial Bank (SCB) has set up a bank in Myanmar after receiving a subsidiary

business licence from the Central Bank of Myanmar, aiming to expand in the

neighbouring market via offline and online platforms.

SCB, the country's fourth-largest commercial lender by assets, notified the Stock

Exchange of Thailand on Thursday that it had registered a company under the law

of Myanmar under the name Siam Commercial Bank Myanmar Ltd (SCBM).

SCB will hold a 100% stake in SCBM's total issued and paid-up capital, with

registered capital of US$150 million (4.73 billion baht).

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General News

Thailand discovered 5 new cases of coronavirus in the past 24 hours, all in state

quarantine facilities, according to the Centre for COVID-19 Situation Administration

(CCSA) (CCSA).

The new cases include a 26-year old Filipino who arrived in Thailand on

September 23 and entered state quarantine in Bangkok. He was tested positive in

a second test conducted three days later; the second case is 41-year old Indian

trader, arriving from India on September 25 and entering hotel based quarantine

in Bangkok. He was tested positive on September 27.

A couple from Brazil arrived in Thailand on September 28 and also entered hotel

based quarantine in Bangkok. Both tested positive the next day and were

admitted to hospital in Bangkok.

The 5th case is a 48-year old Thai man, arriving from Iran on September 24 and

entering state quarantine in Chon Buri. He tested positive for the virus 5 days

later.

Cumulative infections in Thailand, to date, are 3,569, including 2,445 locally

transmitted cases and 631 imported cases. 3,379 people have recovered and 131

others are still being treated in hospital. The death toll remains 59.

Political News Headlines in Thai Media

Thailand’s largest opposition party Pheu Thai is due to select a new leader on Thursday

with many tipping THaksin Shinawatra’s son-in-law Nuttaphong Kunakornwong to take

over as one of the leaders of the party, if not the outright leader.

o Link- https://www.thaienquirer.com/19148/opinion-if-thaksins-son-in-law-becomes-

leader-then-pheu-thai-will-have-failed-to-evolve-again/

Nuttaphong Kunakornwong, the son-in-law of exiled Prime Minister Thaksin Shinawatra,

is tipped to be the next leader of Pheu Thai, sources inside the party told Thai Enquirer on

Thursday

o Link- https://www.thaienquirer.com/19146/thaksins-son-in-law-tipped-to-be-the-

next-leader-of-pheu-thai-party/

Sompong Amornvivat, a close Thaksin ally, has been elected as the new head of the Pheu

Thai party. The current head of the opposition will be charged with leading the party out

of the doldrums and balance pro-democracy protests with the party’s relationship with

Thailand’s conservative institutions.

o Link- https://www.thaienquirer.com/19163/sompong-elected-as-the-head-of-pheu-

thai/

The rumor started after Thaksin Shinawatra’s ex-wife, Potjaman na Pombejra, was

granted an audience with King Vajiralongkorn.

o Link- https://www.thaienquirer.com/19158/opinion-somphong-amornvivat-a-close-

thaksin-ally-seen-as-another-candidate-to-lead-pheu-thai/

Prime Minister Prayut Chan-ocha will support the rewriting of the entire charter, the

Deputy Prime Minister, Wissanu Krea-ngam, told reporters on Thursday.

o Link- https://www.thaienquirer.com/19170/deputy-pm-insists-prayut-and-

government-willing-to-address-charter-amendment/

Outgoing Army chief General Apirat Kongsompong failed to fulfil his promise of

military reform in the aftermath of the Korat mass-shooting, Thanathorn

Juangroongruangkit said.

o Link-

https://www.nationthailand.com/news/30395437?utm_source=category&utm_mediu

m=internal_referral

Students and teachers of Triam Udom Suksa School on Thursday protested against the

transfer of seven teachers, which they deemed unjustified.

o Link-

https://www.nationthailand.com/news/30395432?utm_source=category&utm_mediu

m=internal_referral

Graftbuster Vicha Mahakun has made recommendations for a revamp of the justice

system after his review of the hit-and-run case involving the Red Bull scion.

o Link- https://www.bangkokpost.com/thailand/general/1995035/vicha-proposes-

justice-revamp

The newly appointed national poilce chief does things differently and plans to make big

changes.

o Link- https://www.bangkokpost.com/thailand/general/1995063/new-police-chief-

puts-forth-bold-vision

Economic News Headlines in Thai Media

Shares of Bumrungrad Hospital Plc (BH) are trading below 97 baht per share this week,

the lowest price for the stock since 2014.

o Link- https://www.thaienquirer.com/19189/bumrungrad-trading-at-its-lowest-point-

in-six-years/

The Stock Exchange of Thailand (SET), on Thursday, has returned to a normal 30 per

cent ceiling-floor and short-selling rules from the pre-COVID era.

o Link- https://www.thaienquirer.com/19155/set-resumes-pre-covid-short-selling-rules-

leading-to-more-volatility/

Bangkok Airways announced on Thursday that it was resuming its Bangkok-Trat flights

from Friday onwards.

o Link-

https://www.nationthailand.com/news/30395450?utm_source=category&utm_mediu

m=internal_referral

The Deposit Protection Agency (DPA) said that due to the Covid-19 crisis, more and

more people are turning their assets into cash and depositing this money in banks.

o Link-

https://www.nationthailand.com/news/30395444?utm_source=category&utm_mediu

m=internal_referral

The Social Development and Human Security Ministry has approved guidelines for

providing a monthly Bt600 welfare subsidy to children aged up to six years from fiscal

year 2022 onwards.

o Link-

https://www.nationthailand.com/news/30395435?utm_source=category&utm_mediu

m=internal_referral

The Government Gazette website announced that long-stay tourists would now be

allowed to enter Thailand, after the Cabinet approved the measure on September 15.

o Link-

https://www.nationthailand.com/news/30395428?utm_source=category&utm_mediu

m=internal_referral

SCB Securities (SCBS) is advising investors to closely monitor markets amid signs of

increasing volatility during the fourth quarter of this year. The volatility is driven by

perceived positive factors, while investor focus shifts to negative risk factors.

o Link-

https://www.nationthailand.com/business/30395455?utm_source=category&utm_me

dium=internal_referral

A new draft of the Copyright Act that covers makers and distributors of devices used for

hacking and enlarges protection for photographs is likely to go before parliamentary

debate later this year and come into force next year.

o Link- https://www.bangkokpost.com/business/1995239/copyright-act-draft-adds-

picture-device-protections

Prime Minister Prayut Chan-o-cha has thanked leading corporations for expanding their

investments, especially in the flagship Eastern Economic Corridor (EEC).

o Link- https://www.bangkokpost.com/business/1995079/pm-thanks-firms-for-eastern-

corridor-investments

Thailand's biggest drinks company has launched Passion 2025, a five-year strategic plan,

seeking to entrench ThaiBev as the region's leading food and beverage firm.

o Link- https://www.bangkokpost.com/business/1995127/thaibev-aims-to-solidify-

leadership-with-passion-2025

Advanced Info Service (AIS) has launched the country's first 5G promotional packages to

facilitate innovation and expand its customer base.

o Link- https://www.bangkokpost.com/business/1995123/ais-launches-5g-commercial-

deals

Airlines want the government to announce a definitive decision on whether they will

receive soft loans, which they requested six months ago.

o Link- https://www.bangkokpost.com/business/1995147/airlines-want-answers-on-

soft-loans

Three Thai banks claim that their plans to enter foreign markets is continuing despite the

Covid-19 pandemic.

o Link-

https://www.nationthailand.com/news/30395463?utm_source=category&utm_mediu

m=internal_referral

Issues to be watched out for

October, 2020 – The bidding for construction and operation for the 140-billion-baht

Orange Line western extension linking the Thailand Cultural Centre with Bang Khun

Non.

October, 2020 – The Thailand Grand Prix was rescheduled after being postponed due to

the coronavirus outbreak.

October 8, 2020 – Thailand is set to receive first batch of foreign tourists issued with the

Special Tourist Visa (STV) scheme.

October 12, 2020 – Deadline for applications for the RECO Young Designer Competition

hosted by Indorama Ventures Plc (IVL).

October 14, 2020 - The anniversary of the 1973 student uprising.

October 27, 2020 – The Central Bankruptcy Court is set for first hearings for Nok Airlines

regarding the rehabilitation process.

November 1, 2020 – The second batch of 120 foreign tourists issued with the Special

Tourist Visa (STV) scheme from Scandinavian and Schengen countries on a Thai Airways

International (THAI) flight and land at Suvarnabhumi Airport.

November 1, 2020 – The next parliamentary session will begin.

Key Data

SET Index 1,247.59 +10.55

Link - https://www.set.or.th/en/company/ipo/upcoming_ipo_set.html

Global Commodities

Metal -Link http://www.bloomberg.com/markets/commodities/futures/metals/

Energy -Link - http://www.bloomberg.com/energy/

Baltic Dry Index (BDI)-Link - http://www.bloomberg.com/quote/BDIY:IND

Global Equity Market’s Movements

Link - http://www.bloomberg.com/markets/stocks/world-indexes/asia-pacific/

Asian Equity Markets Movement

Link - http://www.bloomberg.com/markets/stocks/world-indexes/

Information on October 1, 2020

Buying, Selling or Transfer of shares by Owners/Management

Stock Code Volume Value Action

AIMIRT 7,600 13.3 Purchase

ALL 20,090,000 - Acceptance of

Transfer

ALL 20,090,000 - Acceptance of

Transfer

ALL 5,022,500 - Acceptance of

Transfer

ALL 5,022,500 - Acceptance of

Transfer

ALL 20,090,000 - Acceptance of

Transfer

ALL 20,090,000 - Acceptance of

Transfer

ALL 5,022,500 - Acceptance of

Transfer

ALL 5,022,500 - Acceptance of

Transfer

AS 30,000 6.45 Sale

BLA 56,100 17.8 Purchase

BKER 20,000 5.6 Purchase

ECL 22,500 0.82 Sale

EP 125,000 3.81 Purchase

FLOYD 140,500 1.03 Sale

FLOYD 290,100 1.02 Sale

FLOYD 450,800 1.01 Sale

FLOYD 118,600 1 Sale

FLOYD 272,000 1.03 Sale

FLOYD 200,000 1.02 Sale

FLOYD 100,100 1.01 Sale

FLOYD 427,900 1 Sale

FLOYD 200,000 1.02 Sale

FLOYD 250,000 1.01 Sale

FLOYD 50,000 1 Sale

FLOYD 1,000,000 1.01 Sale

FLOYD 200,000 1.1 Sale

FLOYD 200,000 1.1 Sale

FLOYD 200,000 1.1 Sale

FLOYD 200,000 1.1 Sale

FLOYD 374,400 1.1 Sale

FN 1,000 1.15 Purchase

SUTHA 18,900 3.16 Purchase

JMART 5,000 14.5 Purchase

LPH 20,000 4.3 Purchase

LPH 20,000 4.2 Purchase

KOOL 505,700 1.1 Sale

MBAX 120,000 6.36 Sale

MBAX 589,400 6.26 Sale

MBAX 20,000 6.2 Purchase

MTC 4,000 49.5 Purchase

PLANET 6,300 1.27 Purchase

PLANET 5,200 1.28 Purchase

PLANET 3,700 1.29 Purchase

SAT 1,190,000 12.2 Transfer

SMT 200,000 3.1 Sale

SPALI 48,300 15.8 Purchase

SPALI 14,500 15.75 Purchase

TFG 2,000,000 4.25 Purchase

TSTE 600 6.92 Purchase

TSR 100,000 4.06 Sale

TASCO 10,000 15.2 Purchase

XD, XE or XM or other notifications

For list of Companies that have dividend payment and AGM meeting schedules click on

http://www.set.or.th/set/calendarofevents.do

Trading Breakdown on the Stock Exchange of Thailand

Daily as of 1 Oct 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 4,891.82 10.9 3,990.24 8.89 901.58 -

Proprietary

Trading

5,600.89 12.48 5,761.50 12.84 -160.6 -

Foreign Investors 15,698.75 34.99 15,818.11 35.26 -119.37 -

Local Individuals 18,672.03 41.62 19,293.64 43.01 -621.61 -

Monthly Cumulative between 1 - 1 Oct 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 4,891.82 10.9 3,990.24 8.89 901.58 -

Proprietary

Trading

5,600.89 12.48 5,761.50 12.84 -160.6 -

Foreign Investors 15,698.75 34.99 15,818.11 35.26 -119.37 -

Local Individuals 18,672.03 41.62 19,293.64 43.01 -621.61 -

Yearly Cumulative since 1 Jan - 1 Oct 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 1,272,688.95 10.93 1,203,615.04 10.34 69,073.91 -

Proprietary

Trading

1,210,734.40 10.4 1,208,583.81 10.38 2,150.59 -

Foreign Investors 4,094,804.94 35.16 4,372,598.29 37.55 -

277,793.36

-

Local Individuals 5,067,745.09 43.51 4,861,176.24 41.74 206,568.86 -

Total Trading Value 44,863.49 Million Baht

Background Information –  

The strength of each party in the Thai Parliament as of May 8, 2019 as per the report by the

Election Commission of Thailand. Elections took place on March 24, 2019

https://www.ect.go.th/ect_th/news_all.php?cid=24

List of MPs - https://www.ect.go.th/ect_th/download/article/article_20190508184334.pdf

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situation.