November 2, 2020

Thai Enquirer Summary

Political News

In one of the very 1st interviews by HM the King Maha Vajiralongkorn, CNN’s

Johnathan Miller doorstepped HM the King, in which the king is heard as saying that

Thailand is a country of compromise and that “we love them all the same”

The doorstepping was the 1st of its kind in the history of Thailand’s media-

monarchy relationship that has in the past been restricted to being meters away

from the royal family members and had to follow protocol.

https://www.thaienquirer.com/20295/hm-the-king-signals-compromise-in-

surprise-interview-with-foreign-press/

In yet another 1st of its kind in Thailand’s history, HM the King is also seen as signing off

on a poster of himself and HM the Queen, for the Yellow shirt supporters who had

gathered around the Grand Palace yesterday. The Yellow shirt gathering yesterday was

one of the largest yet of the pro-monarchy group that has been over the past few motnsh

been overshadowed by pro-reform and anti-government protest movements led by the

students.

HM the King called for people to love each other and to bring about peace

within the country.

The weekend saw a highly contrast scene between anti-government protesters in

various sites and royalist supporters of HM King Maha Vajiralongkorn.

Meanwhile thousands of royalist supporters donning yellow shirts gathered around

Bangkok’s Sanam Luang and the Temple of the Emerald Buddha yesterday to

demonstrate their loyalty to His Majesty the King when they were waiting for the

motorcade of His Majesty who visited the temple to change the attire of the Buddha

statue from rainy season to winter season.

The gathering was in response to calls by staunch royalists, such as Dr. Warong

Degitvigrom of the Thai Pakdee group, Buddha Isara and the twin brothers Bin

and Aekkapant Banluerith, former actors, to protect the Thai Monarchy, as anti-

establishment protesters demand sweeping reforms of the institution.

Buddha Isara was seen collecting donations to during the gathering.

Meanwhile, anti-government protesters gathered near Udom Suk BTS station in Bang Na

district to continue their demonstrations against the government.

The Free Youth movement earlier announced plans to stage anti-government

rallies planned across 11 locations inside and outside the country.

Following his meeting with the King, Dr. Warong Degitvigrom of the Thai Pakdee

(Loyal Thai) group and former Democrat Party list MP, announced on his Facebook that

the King had told him to “help get the truth out”.

Dr Warong’s Facebook message #Help Get the Truth Out” became the top trend

on Twitter in Thailand.

Meanwhile, the Free Youth group posted a message arguing that “Thailand is not

the land of compromise” but it is the “land of injustice” given a series of lawsuits

brought against protest leaders by the government and heavy-handed dispersal

methods, especially water cannons to disperse young pro-democracy protesters.

The government came under heavy criticism of alleged violent treatment against 2

activists Panupong “Mike Rayong” Jadnok, of the Free Youth’s Eastern Network and

Parit “Penguin” Chiwarak, another student protest leader while in police custody.

Former deputy prime minister Chaturon Chaisang claimed on his Facebook page

that claimed that police resort to violence against the 2 detained activists, causing

them to go unconscious. Police afterwards accused Chaturon of creating and

spreading fake news against them which he denied. Chaturon said his information

could be verified by Parit himself who came out to say that he was abused by

police.

Srisuwan Janya, secretary-general of the Thai Constitution Protection

Association, said he will petition the Technology Crime Suppression Division

(TCSD) to take legal action against Chaturon for the publication of distorted

information and fake news.

The 3 high-profile protest leaders were hospitalised over the weekend after police

said they were being re-arrested at the expiry of the limit to their detention.

Panupong passed out in police custody in scenes that angered protesters.

Police officers from Rayong showed up at the hospital to file a charge against

Panupong over his protest against Prime Minister Prayut Chan-o-cha during the

premier’s visit to the province in August ahead of the mobile cabinet meeting

there while Ubon Ratchathani police showed up to detain Parit over his role in an

August 22 demonstration in the province. Parit is now facing sedition charges

under Section 116 of the Criminal Code which he refused to acknowledge.

On Saturday night, Bangkok police had filed charges against Panusaya over her

involvement on June 5 and June 22 in protests at the Pathumwan Skywalk in

Bangkok.

There are reports that police will today ask the court to approve detention of

Panupong and Parit in their absence.

Parit who is still being treated in Praram 9 Hospital said on his Facebook page

that he heard that an order was issued to “take care of” him and fellow detained

activists tonight or soon. He is ready to sacrifice his freedom, sweat and blood in

this battle. He told the public to remember their brave deed and whatever that may

happen to him.

The Opposition Pheu Thai Party has called for embattled Prime Minister Gen Prayut

Chan-o-cha to give a clear deadline of when the charter amendments will be completed.

Key leaders of the opposition parties will hold a meeting today to discuss the

government’s push for a panel be set up to forge national reconciliation and

address political conflict. Pheu Thai key Pheu Thai key leader Phumtham

Wechayachai said the opposition parties feel that the idea is just an excuse for the

government to buy time in office and no concrete or practical results lying in the

principle of this idea.

He said the opposition wants Gen Prayut to give a clear timeline for charter

amendments, not just his words that lack action.

Another report said Parliament President Chuan Leekpai had assigned the King

Prajadhipok’s Institute (KPI) to design the composition of the reconciliation

committee. Initially, the KPI floated 3 options on who should be sitting on the

panel:

The panel without MPs and senators;

The panel comprising MPs, senators and outsiders;

The panel comprising MPs and senators but without outsiders.

What has been agreed on so far is that the panel will not raise issues on monarchy

reforms.

Earlier, former adviser to the charter drafting assembly Jade Donavanik came out

to say that he thought it was beyond the institute’s power to suggest terms for

handling reform of the monarchy, adding that the most it could do involved

changes to the constitution.

Regarding local elections, the Election Commission (EC) will start accepting applications

for candidates for election to provincial administration organisations (PAOs) from today

until November 6.

The EC has set December 20 for the elections of chairmen and members of

Provincial Administration Organisations (PAO) in the 76 provinces outside

Bangkok.

The full list of candidates will be announced on November 13.

The lists of candidates who are qualified to stand and the location of the polling

stations in each province will be announced on November 24.

Economic News

Most CEOs are concerned by ongoing anti-government rallies and their impact on the economy, according to the “CEO Survey” of 200 individuals, conducted by Krungthep

Thurakit newspaper.

The survey found more than half of 200 CEOs or more than 57 per cent were

worried that political turbulence would make Thailand suffer further economic

impact, erode confidence of investors and increase risks on business activities.

Around 66 per cent of the respondents proposed each side to take a step back and

take part in the negotiation process while 49.5 per cent showed support for charter

amendments. Merely, 28.3 per cent of respondents want Gen Prayut Chan-o-cha

to step down while merely 20 per cent of the respondents want to see a dissolution

of the lower House.

Meanwhile, more than 47 per cent did not believe that the formation of a

reconciliation committee would help solve the crisis but said that depends on the

neutrality of those who will become members of the panel.

Of the total, nearly 80 per cent of CEOs said a 2nd wave of COVID-19 infections

is a more significant variable to the economy than political uncertainty.

Thailand is expected to lose duty free access for 60 billion baht in exports to the US

market after Washington announced decision to cut the tariffs on 231 Thai products

under the Generalised System of Preferences (GSP), taking effect from December 30,

2020.

Washington will eliminate some tariff benefits for Thailand, saying the country

has failed to allow imports of pork from US producers, the US Trade

Representative (USTR) announced last Friday.

The move suspends duty-free access for US$817 million in goods starting

December 30 due to the “lack of sufficient progress providing the United States

with equitable and reasonable market access for pork products,” despite 12 years

of discussions, USTR said in a statement.

The suspension of the Generalised System of Preferences access follows a

suspension earlier this year on about $1.3 billion worth imports from Thailand,

which once had such privileges for about US$4.4 billion in exports to the United

States.

Keerati Rushchano, director-general of Department of International Trade

Promotion, came out to say that the suspension of preferential trade benefits for

231 Thai products won’t hurt Thailand’s export to the US that much as the new

GSP suspension will result in these products being taxed at a normal rate, not that

they will be banned from entry to the US. He said only 147 will actually be

affected as they will be subject to a higher rate of between 3-4 per cent in export

tariffs, amounting to about 600 million baht in total.

SET-listed Asset World Corp Plc (AWC), a property arm of billionaire Charoen

Sirivadhanabhakdi’s TCC Group, is getting another step closer to its plan to purchase

more than 100 hotels ravaged by the COVID-19 outbreak.

AWC director Wallapa Traisorat announced the company’s readiness to set up an

opportunity fund worth 10 billion baht to attract foreign investment if it purchases

these hotels. The company has been approached by owners of more than 100

hotels who asked it to purchase their facilities as the virus crisis had dramatically

hit the accommodation business in Thailand.

Thee hotels proposed to AWC were 3-5 star ones, with a price range around 100

million to 10 billion baht. Some of the hotels were proposed via Frasers Property,

owned by Charoen Sirivadhanabhakdi, Wallapa said.

Of the more than 100 hotels offered to us, we found around 30 per cent matched

our corporation’s DNA. If we do purchase these hotels, we will rebrand them and

hope to make money immediately, says Wallapa.

The Student Loan Fund (SLF) recorded a rise in the number of students seeking loans in

the face of COVID-19 pandemic that caused people to endure job and income losses.

The SLF recorded a rise of 37 billion baht in loans during April 1-October 13 this

year. A total of 628,000 students sought loans from the SLF during the period, up

from 538,000 students of the same period last year as more parents who are

struggling to deal with their spending, including school tuition fees, as their

incomes are affected by business shutdowns under the virus lockdown, according

to the fund’s manager Chainarong Katchapanan.

Reports said there is a high possibility that Government Savings Bank (GSB) will choose

to invest in AMANAH which is Islamic Bank of Thailand (IBank)’s leasing subsidiary to

offer low-interest rate license plate loans, according to a source with the Finance

Ministry.

The plan is expected to be put up to GSB’s board for approval within November.

Initially, GSP is expected to spend no more than 2 billion baht to acquire

AMANAH from IBank. IBank currently holds 500 million shares in AMANAH,

representing 48.59 per cent of registered capital or around 1 billion baht, with a

market cap of around 2.6 billion baht.

The Commerce Ministry looks set to propose the cabinet remove three services --

telecommunications, finance and software development -- from List 3 of the Foreign

Business Act (FBA) to facilitate foreign investment in Thailand.

Thosapone Dansuputra, director-general of Business Development Department

under the Commerce Ministry, said the department has already completed the

draft to remove the three service businesses from List 3 of the FBA.

The FBA has three lists of activities in which foreign participation may be

prohibited or restricted.

The number of firms registering in the Eastern Economic Corridor (EEC) dropped 14.04

per cent to 4,879 in the first nine months of this year.

Their registered capital was Bt13.947 billion, down 29.70 per cent, said

Department of Business Development director-general Tossapon Tangsubut.The

decline is due to Covid-19’s impact on the global economy, he added.

---------------------------------------------------------------------------------------------------------------------

General News

Thailand recorded 4 new COVID-19 cases, all in state quarantine after arriving from

Britain, Russia and Afghanistan, according to the Centre for Covid-19 Situation

Administration (CCSA).

Two are British, a 28-year old teacher arriving from the UK and a 65-year old

security advisor arriving from Afghanistan. There is also a 27-year old Thai

woman returning from the UK and a 41-year old Russian businessman arriving

from Russia.

Cumulative infections in Thailand, to date, are 3,784, including 2,451 locally-

transmitted cases and 836 imported cases. Total recoveries are 3,592, with 133

others still being treated in hospitals. The national death toll remains at 59.

Globally the coronavirus is surging, and Europe is going under a lockdown with United

Kingdom already having announced a lockdown until December 2, 2020

Spain is looking at a lockdown as well

The number of cases in the United States has risen to beyond 100,000 on Friday

and is likely to surge over the next couple of days

Forest runoff caused by heavy rain in mountainous areas wreaked havoc on vast parts of

Prachin Buri province, inundating the Khao Yai-Thap Lan tunnel and submerging dozens

of vehicles at a well-known hotel and tourist attraction there.

Two people were reported missing when the runoff from Thap Lan National Park

triggered by hours of heavy rain sent a large amount of water streaming into

several villages in Prachin Buri. In Nakhon Ratchasima's Wang Nam Khieo

district, a teenager died after being swept away by flash flood.

The sight of the flood-hit tunnel spoke volumes about the flash flood sweeping

across the area. The tunnel through a mountain linking the Khao Yai and Thap

Lan national parks on Highway 304 between Kabin Buri district in Prachin Buri

and Pak Thong Chai district in Nakhon Ratchasima was about 1.80 metres under

water on Sunday morning.

Political News Headlines in Thai Media

Thailand’s military-backed government has summoned the former leaders of the dissolved Future Forward Party to hear charges of sedition and other alleged crimes;

continuing a judicial campaign against people thought to be behind the current pro-

democracy protests.

o Link- https://www.thaienquirer.com/20274/government-goes-after-former-future-

forward-leaders-summons-them-to-hear-sedition-charges/

Royalist leaders and the government responded on Friday to former Prime Minister

Anand Panyarachun’s advice for calm and to address concerns of pro-democracy

protesters.

o Link- https://www.thaienquirer.com/20269/royalists-and-government-responds-to-

former-pm-anands-suggestions-says-more-at-stake-than-prayuts-rule/

The hashtag, #งดลอยกระทง63, trended on Thai Twitter on Friday as netizens came together

to campaign against the waste produced during the festival each year.

o Link- https://www.thaienquirer.com/20278/netizens-vow-to-reduce-trash-during-

long-krathong-by-calling-for-ceremonies-from-home/

“The geographies of these protests have been different,” wrote Eli Elinoff for the Isaan

Record, on Thailand’s October protests.

o Link- https://www.thaienquirer.com/20238/thai-protests-and-the-possibility-of-a-

south-east-asian-spring/

[Poetry] Edge of Tomorrow

o Link- https://www.thaienquirer.com/20243/poetry-edge-of-tomorrow/

His Majesty the King called Thailand the "land of compromise" in unprecedented

comments on Sunday, during which the once-unapproachable monarch declared "love"

for all Thais after months of protests calling for reform to the monarchy.

o Link- https://www.bangkokpost.com/thailand/politics/2012131/king-declares-love-

for-all-calls-thailand-land-of-compromise

People dressed in yellow flocked to Bangkok's Sanam Luang and the Temple of the

Emerald Buddha on Sunday to demonstrate their loyalty to His Majesty the King, while a

group of anti-government protesters converged near Bang Na area.

o Link- https://www.bangkokpost.com/thailand/politics/2012103/royalists-flock-to-

laud-king-amid-anti-govt-protests

Police on Sunday officially rearrested two core protest leaders who had been recuperating

at a Bangkok hospital over their roles in recent street protests.

o Link- https://www.bangkokpost.com/thailand/general/2012171/cops-serve-fresh-

charges-on-hospitalised-trio

A majority of people see the debate without a vote in a special parliamentary session on

Oct 26-27 to seek a solution to the political crisis as a futile, saying Thai politics will

remain unchanged and conflicts will continue, according to an opinion survey by the

Suan Dusit Rajabhat University, or Suan Dusit Poll.

o Link- https://www.bangkokpost.com/thailand/politics/2012023/parliamentary-debate-

on-political-crisis-was-futile-poll

The political climate has become unseasonably turbulent following the youth-led street

protests calling for Prime Minister Prayut Chan-o-cha's resignation, a rewrite of the

constitution and reform of the monarchy.

o Link- https://www.bangkokpost.com/thailand/politics/2011743/academics-

politicians-divided-over-path-to-unity

Some students at Thammasat University posed with cardboard cutouts of well-known

critics of the monarchy on Saturday in a protest before a ceremony at which His Majesty

the King was to present degrees.

o Link- https://www.bangkokpost.com/thailand/politics/2011643/tu-students-pose-

with-cutouts-of-dissidents

There are no legal channels to reopen the investigation into the case in which fugitive

former deputy interior minister Vatana Asavahame was sentenced by the Supreme Court

in 2008 for abuse of power in a case linked to the Klong Dan wastewater treatment

scandal, Justice Minister Somsak Thepsutin said.

o Link- https://www.bangkokpost.com/thailand/politics/2011379/vatana-case-hits-

roadblock

Economic News Headlines in Thai Media

The much talked about gloom and doom in the country’s financial sector may have been

overstated by the media and analysts as the latest third-quarter results indicate but rising

NPLs are beginning to take its toll on the economy.

o Link- https://www.thaienquirer.com/20249/rising-npls-in-the-financial-sector-takes-

its-toll-on-the-thai-economy/

The European Union is ready to resume Thai-EU free trade agreement (FTA) talks as

soon as possible, senior officials have insisted.

o Link- https://www.bangkokpost.com/thailand/politics/2011371/eu-set-to-resume-fta-

talks-with-thailand

The Commerce Ministry insisted on Saturday the announcement by US President Donald

Trump to suspend preferential trade benefits for 231 Thai products under the so-called

Generalized System of Preferences (GSP) won't much affect Thailand's export to the US.

o Link- https://www.bangkokpost.com/business/2011779/us-trade-move-wont-hurt-

thai-exports

Kriangsak Prateepvisut, director of the Public Warehouse Organisation (PWO), has

revealed that a network of people -- inside and outside of the PWO -- took part in a

corruption scheme in the procurement of rubber gloves worth 112.5 billion baht.

o Link- https://www.bangkokpost.com/business/2011335/kriangsak-plans-to-testify-

over-gloves-saga

The Public-Private Partnership (PPP) committee has approved two projects worth nearly

19 billion baht to develop and manage goods transport facilities to serve shipping and

border trade businesses in Rayong and Chiang Rai provinces.

o Link- https://www.bangkokpost.com/business/2011495/ppp-panel-okays-projects-

worth-b19bn

Local commercial banks are concentrating on debt restructuring and asset quality rather

than business growth amid fragile economic conditions that could linger into next year.

o Link- https://www.bangkokpost.com/business/2012403/banks-emphasise-debt-rejig-

assets

SET-listed Oishi Group is poised to beef up Sakae, the group's new a la carte premium

food brand that targets high-end consumers.

o Link- https://www.bangkokpost.com/business/2012275/sakae-brand-gets-high-end-

focus

The State Railway of Thailand (SRT) will sell bidding documents for the repair of 57

electro-diesel locomotives worth Bt2.4 billion at the beginning of next year, expecting to

be completed by 2025, SRT governor Nirut Maneepan said.

o Link-

https://www.nationthailand.com/news/30397105?utm_source=category&utm_mediu

m=internal_referral

Issues to be watched out for

November 2-3, 2020 – A mobile cabinet meeting is scheduled to take place in Surat Thani

and Phuket.

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.

December 2020 – The Federation of Thai Industries (FTI)’s “Faster Payment” scheme to

increase liquidity for small and medium-sized enterprises (SMEs) during the pandemic is

set to end.

December 20, 2020 – Tentative date for elections of Provincial Administrative

Organizations (PAOs) in 76 provinces.

February 28, 2021 – Tentative date for municipality elections and the election of tambon

administrative organizations (TAOs).

April, 2021 – The central bank plans to officially implement the new rule on the rate of

penalty imposed on loan defaulters in a bid to ease borrowers’ burdens and motivate them

to repay their debts.

Key Data

SET Index 1,194.95 -6.69

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 30, 2020

Buying, Selling or Transfer of shares by Owners/Management

Stock Code Volume Value Action

AP 46,900 6.38 Sale

EP 529,000 3.93 Purchase

EA 100,000 39.25 Purchase

KBANK 200,000 75.5 Sale

KBANK 500,000 75.41 Sale

SQ 15,000 1.56 Purchase

TNDT 2,400 2.85 Purchase

THG 23,000 18.1 Purchase

THG 77,000 18 Purchase

UTP 50,000 13 Purchase

UTP 20,000 13 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 30 Oct 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 3,023.28 5.73 4,580.89 8.69 -1,557.61 -

Proprietary

Trading

6,059.18 11.49 7,030.44 13.33 -971.26 -

Foreign Investors 19,777.32 37.51 23,248.73 44.09 -3,471.41 -

Local Individuals 23,865.91 45.26 17,865.62 33.88 6,000.29 -

Monthly Cumulative between 1 - 30 Oct 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 90,437.86 8.76 103,552.89 10.04 -13,115.03 -

Proprietary

Trading

133,220.47 12.91 131,329.45 12.73 1,891.02 -

Foreign Investors 368,191.19 35.68 390,067.41 37.8 -21,876.22 -

Local Individuals 439,995.53 42.64 406,895.30 39.43 33,100.23 -

Yearly Cumulative since 1 Jan - 30 Oct 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 1,358,234.99 10.75 1,303,177.69 10.32 55,057.30 -

Proprietary

Trading

1,338,353.97 10.59 1,334,151.76 10.56 4,202.21 -

Foreign Investors 4,447,297.38 35.2 4,746,847.59 37.58 -

299,550.21

-

Local Individuals 5,489,068.59 43.45 5,248,777.90 41.55 240,290.70 -

Total Trading Value 52,725.69 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.