August 13, 2020

Thai Enquirer Summary

Political News

Finally, the new cabinet of embattled Prime Minister Prayut Chan-o-cha has taken oath

and is set to hold its 1st meeting today after swearing in-front of HM the King.

The 6 new ministers are

Supattanapong Punmeechaow

Energy Minister & Deputy Prime Minister

Predee Daochai

Minister of Finance

Anucha Nakasai

Minister of the Prime Minister’s Office

Anek Laothamatas

Minister of Higher Education, Science & Innovations

Suchat Chomklin

Minister of Labour

Narumon Pinyosinwat

Deputy Minister of Labour.

All the new ministers are scheduled to attend a cabinet meeting today (August

13).

Pix by CNA

The swearing-in of the new cabinet members follows the resignation last month of 6

ministers under the Prayut government took place amid the growing student-led protest

movements that has been calling for reform in the country ranging from issues related to

the monarchy down to the way the government functions.

While many came out to criticise student protesters as going too far for their

criticism of the monarchy, as many as 105 lecturers from various universities

across the country have come out to voice support for student protesters who

made 10-point demands saying that these demands did not break the article 112 or

any other laws that forbids the criticism of the institution.

The 105 lecturers from various universities issued a statement yesterday

(August 12) defending the controversial speeches delivered during the

protest at Thammasat University on Monday night (August 11) as honest

and legitimate expressions regarding the role in and relationship of the

monarchy to society.

The statement pointed that Section 34 of the Constitution guarantees the freedom

of expression through speech, writing, publications, advertisements and other

means and that such expression cannot be restricted. It is the first time in nearly 5

decades that such views have been expressed in an open manner and that there is

a proposal to amend the Constitution and related laws.

The controversial opinions, said the lecturers, are in line with the International

Covenant on Civil and Political Rights, to which Thailand is a signatory.

The 105 professors said none of the protesters’ 10 proposals, regarding the

monarchy, contained any content which could be deemed as insulting or

offending the highest institution.

However, Prayut yesterday said that the student protesters “went too far” after

some issued a 10-point call for various reforms.

So far, no protest leaders have been charged under the lese majeste laws,

though 2 key leaders were arrested on charges including sedition and

violating coronavirus regulations on large gatherings before being released

on bail.

The Free People movement and its allies in the Lumpini Park’s planned protest

“#Thammasat will not tolerate” scheduled to be held yesterday (August 12) was

abruptly cancelled due to concerns about public safety, protest organisers

announced on the group’s Facebook page. The page, though, told their supporters

to keep a close watch because there will be more surprise to come.

The organizers are said to plan to livestream an address by Somsak

Jeamteerasakul, a fugitive former Thammasat University lecturer who has been

living in exile in France to escape lèse majesté charges in Thailand.

The protest has laid open criticism to the ongoing protest as going ‘too far’ as some of the

demands are issues not talked about in Thailand.

Senator Kamnoon Sitthisamarn has proposed a special parliamentary session to

discuss the current political situation to prevent, what he fears, could become a

repeat of the “October 6th” student massacre in 1976.

Kamnoon said the student activists have crossed the line “away from

normal political dialogue. Their demand regarding the monarchy, which

was made public during the protest on Monday night, has never been

expressed so openly in public in Thailand.

Dr Rienthong Nanna, the pro-royalist director of Monkut Wattana Hospital,

meanwhile, advised the parents of students that they should prevent them from

attending the rallies, saying that the current political conflict has escalated to the

point that violence could occur at any moment.

Thammasat’s University Council plans to call an urgent meeting at the Tha

Prachan campus today (August 13) to discuss the situation as a result of the

student protest at the Rangsit campus and 105 lecturers’ stance to support the “#

Thammasat will not tolerate” protest, President Noranit Setabutr announced.

On its Facebook page, the Student Union of Thailand (SUT) announced a plan to hold

rallies in various sites from August 14th

with its allies including a rally by the

Ramkhamhaeng Network for Democracy Group at Phor Khun Ramkhamhaeng square

inside the university; a rally by the Spring Movement at Chulalongkorn University.

This morning there was a big social media buzz about some of the leaders of the student

movement about to be arrested prompting a lot of activities.

In the end nothing happened although this could be a way to wear the students out

and then finally arrest the student leaders after a few ‘fake’ arrest rumors so that

people do not believe in the future when the real arrest takes place.

Meanwhile, the management of Triam Udom Suksa School issued a statement on the

school Facebook page, announcing its stance to steer clear from politics and unlawful

activities. It also said the school will not take responsibility for one’s actions who claim

the school’s name.

Digital Economy and Society (DES) Minister Buddhipongse Punnakanta announced

move to take legal action against those who posted inappropriate messages against the

monarchy.

The DES Minister said he instructed his ministry officials to compile evidence

over online criticism relating to student protesters’ controversial criticism of the

monarchy in demonstrations during August 10-11.

So far, the authorities had identified 114 posts on Facebook, Twitter, and

Google’s YouTube video-sharing platform that they said violated Thai law and

were “inappropriate”.

“All evidence will be gathered and submitted to court tomorrow (August

13),” Buddhipongse said in a Facebook post yesterday (August 12),

adding that if the URLs containing the material were not closed or deleted

within 15 days, the companies would be fined under Thailand’s

Computer-Related Crime Act, which its government has in the past

wielded against political dissenters.

The lower House meeting is scheduled to table an amnesty to political offenders in the

colour-coded conflicts in the past in a bid to forge national reconciliation today (August

13).

In its report, the House committee on law, justice, and human rights chaired by

Phalang Pracharat Party MP Sira Jenjaka has made a 9-point recommendation.

The House will look into the recommendations made by the Sira-led committee

including

An amnesty to offenders charged for instigating political unrest and protests

during 2005-present to be forgiven under the law, except those who violated

Section 112 and cases involved allegations of corruption.

A People’s Constitution and proposed amendments to the 2017 with the

establishment of a charter drafting assembly (CDC). It said the charter should

be rectified or redrafted to give birth to a “People’s Constitution”.

The report demands the charter be changed immediately with Prime Minister Prayut

spelling out clearly when the amendment process will begin and how long it will take.

The premier must also avoid delays in implementing the changes.

Meanwhile, Pol Capt. Chalerm Yubumrung, who chairs Pheu Thai’s committee on

special affairs, has made 3 calls to lead the country out of current political conflicts.

The 3 proposals include:

The scrapping of the 2017 constitution and replace immediately with the new

constitution of 2020.

The reinstatement of the 1997 constitution.

The Prime Minister to dissolve parliament and call for a new election within

60 days.

New development on the Red Bull heir’s hit and run case, there are reports that deputy

attorney general Nate Naksuk who made the decision to dismiss charges against Red Bull

heir Vorayuth “Boss” Yoovidhya has now resigned from the case while police mull new

charges.

The Office of the Attorney General (OAG) announced yesterday (August 12) that

it was investigating whether it broke the law by dropping charges against

Vorayuth.

Nate has resigned to show his spirit and allow himself to prove that he acted

correctly, the OAG said.

The OAG has given police 10 days to file a report on Vorayuth’s speed and

possible cocaine use.

Economic News

The Federation of Thai Industries (FTI) Supant Mongkolsuthree came out to voice

concern about further economic damage if the country plunged back into another

lockdown while he is less concerned by political demonstrations.

The FTI chairman was more worried about the potential damage to the economy

stemmed from another lockdown than political protests that are held under the

rule of law and a peaceful manner.

The FTI expects the country’s GDP this year to contract by 7-9 per cent. Supant

called for the new cabinet to take a number of measures to hasten the country’s

economic recovery including a proposal for the government to seek an additional

loan to facilitate liquidity for the private sectors.

The FTI has high hopes that the government’s new economic team will get to

work immediately as small and medium-sized enterprises (SMEs), particularly

those related to the tourism industry, are awaiting much-needed assistance from

the government after COVID-19 wreak havoc the country’s economy.

The FTI chairman called on the government to seek an additional loan of 1 trillion

baht to mitigate economic damage from the outbreak.

After being sworn in yesterday (August 12), newly appointed Finance Minister

Predee Daochai is getting down work immediately as he is expected to meet with

his ministry’s officials this week to discuss the economy and upcoming remedy

measures.

Predee is expected to discuss with the ministry’s top executives economic

conditions and forthcoming prospects to prepare measures to manage the

economy, said a source with the ministry.

The Ministry of Interior (MoI) will propose to the cabinet the extension of BTS’

operation concession contracts by another 30 years for BTS Group Holdings Plc, the

operator of Bangkok’s Green Line electric rail service in exchange for 70-billion-baht

liabilities owed by the Bangkok Metropolitan Administration (BMA), according to a

source with the Public-Private Partnership (PPP) Committee. Fares would be capped at

not more 65 baht per trip throughout the period, the source added.

Amid objections from the State Enterprise Policy Office, National Economic and

Social Development Council and parliament since the end of last year, the Interior

Ministry convinced Gen Prayut to approve the extension plan.

The new cabinet is expected to meet today to approve the Green Line concession

extension plan.

The University of the Thai Chamber of Commerce (UTCC) said as many as 1-2 million

workers would likely be laid off during the fourth quarter of 2020 - the first quarter of

2021 due to a liquidity crunch among business operators.

Thanawat Polvichai, director of the UTCC’s Economic and Business Forecasting

Centre, said the strong remedy is needed to stimulate the economy. He called on

the government’s new economic team to inject a budget of at least 400-600 billion

baht to keep businesses open or have to lay off workers.

The UTCC expects 10,000-50,000 people who have been laid off or those from

the informal sector to witch to sell lotteries in the wake of high demand for lottery

vendors given that there are as many as 200 million lottery tickets in each drawing

round.

The economy could also see a major trouble in October this year after the relaxation of

the measures set by the Bank of Thailand (BoT) ends for the mortgage and small &

medium sized industries (SME).

SME which accounts for about 30+ per cent of the overall lending in the Thai

financial sector has been facing major trouble and the BoT has given until

October this year a break for them to be able to survive and look for ways to fund

their debt obligations.

Even if only 20 per cent of the 30 per cent of the overall banking system’s loans

go back, the financial sector in Thailand could be in dire situation as the books of

the financial institutions could have trouble.

The Airports of Thailand (AOT) reported a loss of 2.93 billion baht in its third-quarter

2020 (from April to June 2020) results as air travel came to a near standstill due to the

COVID-19 pandemic.

The AOT posted a loss of 2.93 billion baht in the quarter ended June, compared

with a profit of 5.88 billion baht in the same period a year ago. The main reasons

are a decline in sales or service by 13.795 billion baht or 91.27 per cent due to the

COVID-19 outbreak, a decrease in outbound passenger service revenue and a

decrease in aviation-related income.

For the 9-month period between October 2019 and June 2020, AOT has a profit

attributable to the shareholders of the parent company of 8.048 billion baht, or

net profit of 0.56 baht per share. Compared to the same period last year, there

was a profit of 19.905 billion baht or a net profit of 1.39 baht per share.

The Civil Aviation Authority of Thailand (CAAT) said it had yet to consider allowing

international commercial flights to enter Thailand but was monitoring the improving

Covid-19 situation in many countries, director-general Chula Sukmanop announced.

Chula said the ban on international commercial flights will remain in force for

now as the outbreak remains critical in many countries before deciding when the

flights could resume.

The agency needs to consult with the Centre for Covid-19 Situation

Administration (CCSA) before deciding whether to open Thai skies to

international traffic.

Charoen Pokphand Foods Plc (CPF) is expected to report operating results in the second-

quarter of 2020 today (August 13).

Asia Wealth Securities expects CPF to report a second-quarter net profit of 6.395

billion baht, a year-on-year increase of 56 per cent from 4.111 billion baht or a

quarter-on-quarter increase of 5 per cent from 6.111 billion baht.

The brokerage firm said the year 2020 is a golden year for CPF due to soaring

pork prices in all global regions which helped push up its profit rate.

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General News

Thailand logged 5 new COVID-19 cases in the past 24 hours, all arrivals from abroad and

in state quarantine, according to the Centre for Covid-19 Situation Administration

(CCSA).

The first case is a 50-year old American citizen, of Thai descent, who arrived

from the US on July 26 and entered quarantine in a hotel in Bangkok. He tested

positive August 10.

The second case is an 18-year old Thai student returning from India on July 30 He

tested positive for the virus on August 10.

Three other cases are Thai students returning from Egypt on July 30 on the same

flight as 6 passengers who had earlier tested positive for COVID-19. They entered

state quarantine in Chon Buri province and tested positive on August 10 although

there were no symptoms.

Cumulative infections in Thailand, to date, are 3,356, with 3,169 recoveries and

58 deaths while 129 others are still being treated in hospital.

The full-scale of school reopening across the country is expected from today (August 13),

the government’s Centre for Covid-19 Situation Administration announced.

Educational institutions across the country will be allowed to reopen to conduct

teaching and learning as normal. However, this measure is voluntary and could be

applied according to the situation and decision by school officials.

Public transport can also go back to operating at normal capacity, allowing for a

full number of passengers.

Outdoor or indoor sporting events will be allowed to increase their audiences in

stadiums but must still have a limit on the number of entrants to keep the situation

from getting out of control.

Political News Headlines in Thai Media

Student leaders told Thai Enquirer on Wednesday that they were unconcerned with

political parties urging caution after a controversial rally on Monday which touched upon

previously taboo topics in Thai society.

o Link- https://www.thaienquirer.com/16917/student-leaders-say-they-are-

unconcerned-with-politicians-urging-caution/

Following a large student rally at Thammasat University on Monday, right-wing

conservative media over the last 48 hours have taken aim at student protesters for

involving the monarchy in politics and questioning the motives of the student leaders.

o Link- https://www.thaienquirer.com/16913/right-wing-thai-media-takes-aim-at-

student-protesters-arguing-mondays-rally-had-crossed-the-line/

Forums will be set up around the country by mid-August to listen to the student

protestors’ grievances and demands, Prime Minister Prayut Chan-ocha said on Tuesday.

o Link- https://www.thaienquirer.com/16890/forums-to-communicate-with-protestors-

will-be-set-up-around-the-country-within-a-week-prayut-said/

On Tuesday, Thailand’s Appeals Court sentenced Premchai Karnasut, the president of

Italian-Thai Development Corp, to six months in jail for possessing a rifle without

permission.

o Link- https://www.thaienquirer.com/16887/italian-thai-premchai-to-receive-prison-

sentence-confirmed-by-appeal-court/

Pro-democracy advocates on Wednesday called on education institutes to allow on-

campus rallies as pressure grows on them to prohibit "risky" political activities.

o Link- https://www.bangkokpost.com/thailand/general/1967151/call-to-resist-

pressure-allow-rallies

A report will be debated in the House on Thursday on forging national reconciliation

which could partially set the tone for a future constitutional amendment, says a source in

the House of Representatives.

o Link- https://www.bangkokpost.com/thailand/general/1967207/unity-changes-call

A mobile application that will allow the public to search for missing persons should be

available in September, according to the state committee tasked with developing the

system.

o Link-

https://www.nationthailand.com/news/30392873?utm_source=category&utm_mediu

m=internal_referral

The Office of the Attorney General (OAG) has set up a panel to investigate Nate Naksuk

over his decision to drop the hit-and-run case against Vorayuth “Boss” Yoovidhya in

June.

o Link-

https://www.nationthailand.com/news/30392869?utm_source=category&utm_mediu

m=internal_referral

The Department of Special Investigation (DSI) director-general expressed disagreement

over the prosecutor’s decision to drop charges against those accused in the murder of

Karen rights activist Porlajee “Billy” Rakchongcharoen.

o Link-

https://www.nationthailand.com/news/30392862?utm_source=category&utm_mediu

m=internal_referral

An anti-government group came out on Wednesday to clarify its demands, to be repeated

at a rally on Sunday, after the topic of the royal institution was infused into a recent

political gathering.

o Link- https://www.bangkokpost.com/thailand/politics/1967087/free-people-group-

stresses-three-demands-unveils-dream

A pro-democracy protest scheduled for today (August 12) has been cancelled as the

organisers are afraid that instigators might join in to stir up trouble.

o Link-

https://www.nationthailand.com/news/30392855?utm_source=category&utm_mediu

m=internal_referral

Economic News Headlines in Thai Media

Siam Makro PCL (MAKRO) shares rose up by 7.45 per cent to 43.25 baht per share on

Tuesday morning trade (11:00 a.m.), increasing by 3.25 baht from 40.50 baht.

o Link- https://www.thaienquirer.com/16907/7-5-per-cent-surge-on-makro-shares-due-

to-strong-second-quarter-results/

The Board of Investment (BOI) has organised the Subcon Thailand and Intermach 2020

exhibitions from August 23 to 26 at Bitec Bang Na to lure industrial investors, especially

those in automation systems and robotics.

o Link-

https://www.nationthailand.com/news/30392856?utm_source=category&utm_mediu

m=internal_referral

The Energy Policy and Planning Office (EPPO) aims to ask new Energy Minister

Supattanapong Punmeechaow to extend the subsidy on liquified petroleum gas for

households to help alleviate people’s financial burden in the current Covid-19 situation,

director-general Wattanapong Kurowat said.

o Link-

https://www.nationthailand.com/news/30392841?utm_source=category&utm_mediu

m=internal_referral

Thailand is being urged to fine-tune its development strategy and rejig incentives to focus

on promoting the nation as a production hub for health products like rubber gloves,

supplements and medical devices in the wake of the coronavirus crisis.

o Link- https://www.bangkokpost.com/business/1966727/poll-suggests-need-for-better-

strategy

Local airlines are gearing up for fierce competition to capture limited domestic demand,

with Thai AirAsia (TAA) officially making a U-turn to Suvarnabhumi airport and an

existing tenant, Thai Vietjet, digging in with plans for more routes.

o Link- https://www.bangkokpost.com/business/1966847/carriers-braced-for-fierce-

competition

Debt-ridden Thai Airways International (THAI) will have to pay more than 1,600

employees pensions worth 5.4 billion baht over the next 13 years, according to a source

at the airline.

o Link- https://www.bangkokpost.com/business/1966683/thai-airways-must-pay-b5-

4bn-in-pensions

PTT Plc hopes it has a better response to the Covid-19 impact later this year with a "vital

concept", though it did move from red to black on its balance sheet in the second quarter.

o Link- https://www.bangkokpost.com/business/1966803/ptt-launches-vital-concept

Newly appointed Finance Minister Predee Daochai is set to meet with the ministry's

officials this week to discuss the economy and upcoming remedy measures.

o Link- https://www.bangkokpost.com/business/1967351/new-finance-minister-ready-

to-seek-remedies

State telecom enterprise TOT says it has clinched a cooperation deal with Mu Space

Corp, a Thai satellite and space tech startup, to venture into the low-earth orbit (LEO)

satellite business as a potential revenue stream.

o Link- https://www.bangkokpost.com/business/1967447/tot-launches-into-satellite-

venture

The Revenue Department is urging the private sector to accelerate investment to benefit

from the highest tax deduction of 2.5 times.

o Link- https://www.bangkokpost.com/business/1967355/firms-urged-to-hurry-up-for-

peak-deductions

Annual credit card spending is expected to contract this year because of the coronavirus

crisis, particularly for outbound spending, due to the government's prohibition on cross-

border travel. Credit card spending in the finance industry contracted by 14.2% year-on-

year for the first five months this year.

o Link- https://www.bangkokpost.com/business/1967431/credit-card-spending-headed-

for-2020-decline

The ban on international commercial flights will remain in force while the Covid-19

pandemic situation remains critical in many countries, the Civil Aviation Authority of

Thailand (CAAT) said on Wednesday.

o Link- https://www.bangkokpost.com/thailand/general/1967163/no-end-in-sight-for-

flights-ban

Issues to be watched out for

August 17, 2020 – The first day of hearings for Thai Airways International Plc (THAI)’s

bankruptcy case.

August 17, 2020 – The National Economic and Social Development Council (NESDC,

formerly known as the National Economic and Social Development Board or NESBD) is

scheduled to release 2nd

quarter GDP data.

August 29, 2020 – The deadline for farmers to return the banned agri-chemicals, paraquat

and chlorpyrifos, in their possession to sellers.

August 31, 2020 – The government is expected to lift lockdown restrictions imposed

under the emergency decree.

September, 2020 – The 3.3-trillion-baht budget for Fiscal Year 2021 proposed by the

government is expected to sail through parliament.

September, 2020 - The Joint Standing Committee on Commerce, Industry and Banking

(JSCCIB) is planning to hire a consultancy to conduct an in-depth analysis on pros and

cons of the highly controversial Comprehensive and Progressive Agreement for Trans-

Pacific Partnership (CPTPP) in a bid to renew its call for the government to join the pact

next year.

September 2020 – Recruitment of new board members of the National Broadcasting and

Telecommunication Commission (NBTC) is set to kick off.

September 21, 2020 – The National Economic and Social Development Council (NESDC,

formerly known as the National Economic and Social Development Board or NESDB) is

to revise the 20-year national strategy at an annual meeting to respond to the COVID-19

crisis.

September 30, 2020 – The Stock Exchange of Thailand (SET) is set to extend the revised

equity short-selling regulations from June 30 to September 30 as stock market volatility

remains high in the wake of the Covid-19 pandemic.

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

regarding the rehabilitation process.

Key Data

SET Index 1,336.84 + 14.83

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 August 11, 2020

Buying, Selling or Transfer of shares by Owners/Management

Stock Code Volume Value Action

AEC 5,000,000 0.13 Sale

AEC 1,119,200 0.14 Sale

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 11 Aug 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 8,836.74 12.28 7,351.91 10.21 1,484.83 -

Proprietary

Trading

7,240.44 10.06 7,070.37 9.82 170.06 -

Foreign Investors 22,994.83 31.94 23,463.61 32.6 -468.77 -

Local Individuals 32,911.85 45.72 34,097.98 47.37 -1,186.12 -

Monthly Cumulative between 1 - 11 Aug 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 39,249.28 10.35 35,921.63 9.48 3,327.66 -

Proprietary 43,156.65 11.39 42,716.06 11.27 440.59 -

Trading

Foreign Investors 132,442.54 34.94 137,026.52 36.15 -4,583.98 -

Local Individuals 164,190.41 43.32 163,374.67 43.1 815.73 -

Yearly Cumulative since 1 Jan - 11 Aug 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 1,108,129.35 11.11 1,035,329.31 10.38 72,800.04 -

Proprietary

Trading

1,011,339.46 10.14 1,009,879.30 10.12 1,460.16 -

Foreign Investors 3,491,568.84 35 3,722,976.36 37.32 -

231,407.52

-

Local Individuals 4,365,289.98 43.76 4,208,142.66 42.18 157,147.32 -

Total Trading Value 71,983.87 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

Information provided here is copyright of ThaiNews Corp and no part maybe reproduced in any form without

the prior written permission. The opinions expressed are only those of the writer’s and is analysed based on the

situation.