July 23, 2020

Thai Enquirer Summary

Political News

The Centre for COVID-19 Situation Administration (CCSA) meeting chaired by Prime

Minister General Prayuth Chan o-cha yesterday (July 22) approved an extension of the

state of emergency for Thailand, for the 4th time, by 1 month until the end of August.

National Security Council Secretary-General, Somsak Roongsita, stressed that the

state of emergency is still necessary to effectively control the virus in Thailand

reopens its door to selected groups of travellers to help revive the economy.

“The extension of the state of emergency is only to curb the COVID-19

pandemic. It has nothing to do with political rallies,” he said.

The government has extended its state of emergency 4 times so far with the first

from March 26 to April 30, then to May 31, and then to June 30 to combat

COVID-19 before extending it again.

The decision to extend the State of Emergency was criticized by opposition political

parties, while critics said the emergency law was meant to curb large anti-government

protests, National Security Council Secretary-General, Somsak said the latest extension

won’t include a rule prohibiting them.

The decision will be presented to the Cabinet next week on July 29.

In the light of the CCSA’s decision to extend the state of emergency until August 31,

opposition Pheu Thai Party chief strategist Sudarat Keyuraphan lashed out at the

government calling it to scrap the emergency law immediately.

In her Facebook post, Sudarat questioned the need to extend the state of

emergency, citing 2 reasons.

Thailand has reported zero local COVID-19 transmission for 2 months.

This means there is no trace of the virus in the country. The government

has a job to tighten control over the spread of the virus from imported

cases, rather than extending the state of emergency.

Given severe economic impacts from COVID-19 on Thai people across

the country, what Prime Minister and Defence Minister Gen Prayut

Chan-o-cha can do is to restore confidence to the general public and

foreign investors that the govt. has the ability to effectively control the

pandemic, rather than using emergency measures to curb the pandemic

which can erode people’s confidence and obstruct people’s livelihoods.

Sudarat called on the Prime Minister to scrap the extension of the emergency

law immediately to allow all businesses to reopen and speed up measures to

rehabilitate the economy.

The flash mob seems likely to be now in full swing once again as more students are set to

join anti-government flash-mob style protests. It is not just universities but schools have

also started to join the movement

University students and the general public have mapped out flash-mob rallies in

various spots across the country to ratchet up pressure on the government to

resignation.

The Free Youth Group announced to stage rallies in Bangkok, Khon Kaen,

Pathum Thani, Ayutthaya and Rayong today (July 23), followed by Patthalung,

Lamphun and Udon Thani from 17:00 hrs tomorrow (July 24).

The Coalition of Salaya Students is set to hold a rally at 11.00 hrs in front of

Government House tomorrow (July 24).

Rallies organised by the Free Youth Group are set to continue throughout the

rest of this month and early next month in provinces like Samut Prakan, Nakhon

Sawan, Ratchaburi and Roi Et.

The list of venues where the protest is set to be held until August 2, 2020

The Free Youth group’s protest set to be held from 17.00 hrs yesterday (July 22)

had to be scrapped after the management of Mahasarakham University issued a

letter banning the group from using its Hexagon Field as the rally venue on fears

over virus transmission and the need to comply with the state of emergency.

Students at the Prince of Songkla University Pattani Campus vowed to go ahead

with their planned rally set from 16.00 hours today (July 23) despite the

university management’s order to ban students from holding protests on the

campus site. Students now take aim at both the university rector and the

government, calling for their resignation.

On the same day, the “nolongerslavesth” Group led more than 500 students and

members of the general public to rally in the Laem Thaen multi-purpose ground

in Tambon Saen Suk, Mueang District of Chon Buri.

Protestors, most of whom donned black, put up signs calling for a dissolution of

the House, an end to harassment of the opposition and a new constitution. The

rally went on for 1 hour amid tight security of around 100 police officers.

In what is spreading like a wildfire on social media, a young university student in Phrae

province took to Facebook live to go alone to a police station to ask the police on why 4

police officers had gone to his house and threatened his mother not to allow him to go to

last evening’s protest in the province.

Political commentators are saying that such a move could instigate the students to

be bolder and braver to stand up to intimidation by authorities.

Media outlets are covering this bold student named ‘Nueng’

Link to Story - https://www.khaosod.co.th/politics/news_4556244

Link to VDO –

https://www.facebook.com/100011111164289/videos/1135580000155695/

A parliamentary session chaired by House Speaker Chuan Leekpai was held yesterday

(July 22) to discuss 6 urgent issues which include a motion to allow student protesters to

have their political opinions heard through parliament. The motion was submitted by

Phalang Pracharath Party MP for Bangkok Chakkrapan Pornnimit.

Similar motions were also filed by other parties, namely the Move Forward Party,

Pheu Thai Party, Democrat Party and Bhumjai Thai Party.

Justice Minister Somsak Thepsuthin, also deputy leader of the Phalang Pracharat Party

(PPRP), came out to warn that Phalang Pracharat which means “People’s State Power”

may lose its power if his Saam Mitr faction’s demand for cabinet posts were not met.

Somsak’s comment came following strong speculation that 2 leaders of the Saam

Mitr Group inside the Phalang Pracharat Party (PPRP) Suriya Jungrungreangkij,

the incumbent industry minister, and Anucha Nakhasai, the PPRP secretary-

general, will not be given cabinet seats that they want.

On a separate issue, the National Anti-Corruption Commission (NACC)’ set up a

subcommittee to probe into Anongwan Thepsuthin relating to alleged

irregularities in a soil and forest resource project worth 770 million baht when

serving as natural resources and environment minister.

The NACC’s subcommittee found sufficient grounds to bring charges against

Anongwan which will be presented to the NACC main committee.

The National Anti-Corruption Commission (NACC) identified 75% out of 928 local

communities as risk areas for corruption across the country.

According to its latest data from its Corruption Risk Mapping Project, the

NACC said it found graft in projects which have nothing to do with Covid-19

transmission.

The data shows corruption engaging in various forms such as procurement of

equipment for use in battling virus transmission, hoarding of medical supplies,

price-gouging, misuse of relief funds and donations.

Former prime minister Yingluck, her former PM’s Office Minister Niwatthamrong

Boonsongpaisarn and Suranand Vejjajiva, former Secretary-General to the Prime

Minister, have been found guilty by the National Anti-Corruption Commission (NACC)

yesterday (July 22) of malfeasance in office relating to a 240-million-baht roadshow

campaign to publicise her government’s infrastructure development projects in 2013

under the so-called “Thailand 2020” roadshow project.

Yingluck, Suranand and Niwatthamrong stand accused of violating 2 laws —

Section 151 and Section 157 of the Criminal Code and Section 12 and Section

13 of the law on offences relating to the submission of contract bids to state

agencies, NACC spokesman Niwatchai Kasemmongkol announced.

The NACC said the 240 million baht spent on the “Building Future of Thailand

2020” project at Yingluck’s instruction as prime minister was a complete waste,

causing damage to the state.

Previously in 2014, the Constitutional Court ruled the bill sponsored by the

Yingluck government to authorise the Finance Ministry to seek 2 trillion baht in

loans for infrastructure development projects was unconstitutional.

Therefore, events held under the roadshow campaign were effectively rendered

null and void, and the 240-million budget already spent on the campaign was

wasted, causing damage to the state.

The NACC also concluded that 2 media companies---Matichon Plc and Siam

Sport Syndicate Plc---hired to run the roadshow were allegedly complicit in

supporting the offences by state authorities in violation of the Criminal Code, the

anti-corruption law and the law on offences relating to the submission of

contract bids to state agencies.

In his own defence, Suranand wrote on his Facebook page he had performed his

duty honestly and carefully in the state and public interest, insisting that all

procurement processes were made in line with state regulations.

Sira Jenjakha, as the chairman of the House committee on law, justice and human rights,

threatened to dismiss Pannika Wanich, a leading figure in the Progressive Movement and

former Future Forward Party spokeswoman, from the committee’s advisory panel due to

her inappropriate behaviour and impolite manners.

Sira said Pannika acted inappropriately and impolitely when she requested the

police to clarify to the committee about the arrest of 2 political activists who put

up signs criticising the government in Rayong.

Sira said he had informed Pannika about the matter and asked her to resign. He

plans to seek a vote at the committee’s meeting if Pannika refused to resign.

The ongoing cabinet reshuffle is still there somewhere but this saga is likely to continue

until mid-August when the actual swearing in may happen.

Until then all names that come in and go are all speculation

But what is interesting is the fact that the street protest leader that toppled the

Yingluck Shinawatra government – Suthep Thaugsuban, came out to accept that

the Prime Minister Prayut had called him to get his proxy party’s current Ministry

of Labour quota to give it to someone else and that the Action for Coalition party

(Suthep’s proxy party) will get some other portfolio.

Economic News

The Supreme Administrative Court yesterday (July 22) upheld the Central Administrative

Court’s decision to reject a petition by the Ministry of Transport and the State Railway of

Thailand (SRT) for a retrial. The ruling put an end to a long legal battle in the Hopewell

Project that dated back to 1990.

The court ordered the Transport Ministry and the SRT to pay 24 billion baht in

compensation to Hopewell Holdings Company for the 1998 cancellation of the

80-billion-baht elevated highway and train project.

The Hopewell Project was commenced in 1990 by Hopewell Thailand, a

subsidiary of Hong Kong-based Hopewell Holdings but was ordered to be ceased

in 1997 during the Asian financial crisis, with only about 10% of the project

complete. The cabinet during the time ordered the cancellation of the contract in

1998.

Both sides demanded compensation and fought it out at an arbitration panel and

twice in the Central Administrative and Supreme Administrative courts.

The Transport Ministry and SRT refused to pay the compensation. They asked the

Central Administrative Court for a retrial in October last year, claiming that they

had obtained new evidence showing that Hopewell Thailand was not legally

registered.

New company registrations rose 3% year-on-year in June 2020 boosted by the easing of

lockdown restrictions and the government’s economic stimulus measures, according to

the Commerce Ministry’s Business Development Department.

According to the latest report by the Business Development Department, the

number of new business registrations across the country in June rose 37% from

May this year and 3% over the same month last year to 5,731, said Vuttikrai

Leewiraphan, the Department’s Director-General.

The total registered capital of new companies in June increased 53% from May to

14.757 billion baht but dropped 3% year-on-year.

The top 3 sectors for new businesses are building/construction, accounting for

11% or 612, followed by property 5% or 271 and logistics and freight 3% or 188.

Osotspa Plc (OSP) announced an overhaul of executives.

The company appointed Kannikar Chalitaporn as chairman of the executive

committee following the resignation of Petch Osathanugrah, former chairman and

chief executive of Osotspa, who resigned over health reasons, company board

chairman Surin Osathanugrah announced.

Kannikar is a successful business leader with extensive experience in managing

Thai and multinational companies for more than 40 years.

Petch will be the company’s vice chairman. Thana Chaiprasit, one of the fourth-

generation executives of the Osathanugrah family, will serve as acting CEO.

The Customs Department plans to auction for more than 200 seized luxury cars on

August 8, the first time in 3 years.

The planned auction will see many supercars such as second-hand Ferrari

California model priced at 13 million baht, second-hand Porsche Panamera Turbo

14-15 million baht and second-hand BENTLEY 20 million baht, according to

Customs Department spokesman Chaiyut Kumkun.

The auction is expected to generate no less than 300 million baht in revenue for

the government.

Link to the cars - https://customsauction.sia.co.th

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

General News

Thailand logged in 6 new COVID-19 cases, all Thai nationals who returned from abroad

and have been undergoing 14-day quarantine at state facilities. It has still recorded zero

new fatalities, with the infection tally now at 3,261 cases and 58 deaths.

In the light of the CCSA’s decision to extend the state of emergency by another

month until the end of August, the Centre has agreed to allow selected foreigners,

including migrant workers from neighbouring countries, especially from

Cambodia, Myanmar, Laos and Vietnam, in the infrastructure sector and food

industry to enter the kingdom.

Medical tourists, foreigners participating in international conferences and trade

fairs, foreign film production crews and Thailand Elite cardholders (those with

long-term residence visas and multiple-entry residence visas) were among those

allowed to the enter the country.

On a global front

The number of cases is close to 15.5 million

The United States saw more than 71,000 new cases yesterday and more than

1,200 deaths

India is catching up with more than 45,000 cases and 1,100 deaths yesterday

Political News Headlines in Thai Media

The State of Emergency (SOE) will not be used to press charges against protestors, the

National Security Council (NSC) said on Wednesday.

o Link- https://www.thaienquirer.com/15928/the-nsc-said-soe-will-no-longer-be-used-

on-protestors/

Thailand’s cabinet and its emergency covid response center said on Wednesday it will

extend the State of Emergency act by one month despite activists and protesters

demanding its end.

o Link- https://www.thaienquirer.com/15907/government-will-extend-state-of-

emergency-act-by-one-month/

Thai netizens took to twitter to criticize the detention of a man who was forcefully

admitted to a psychiatric hospital for wearing an anti-institution T-shirt and calling for his

release.

o Link- https://www.thaienquirer.com/15905/thai-netizens-rallies-for-man-forcefully-

put-in-psychiatric-hospital-for-wearing-anti-institution-t-shirt/

Sean Buranahiran, a social media influencer and life coach, gave his first interview to the

public this week after a seven hour interrogation at Pakkred police station, apologizing

and denying all allegations of embezzlement on a controversial fundraiser.

o Link- https://www.thaienquirer.com/15901/embattled-social-media-turns-himself-in-

and-apologizes-to-the-public/

Headache Stencil is the pseudonym of a graffiti artist who has been painting political

imagery for years. His anti-coup messages have gone viral and has given him a fan base

but have also put him in the crosshairs of the state. He claims that he has been stalked and

harassed by the state security apparatus.

o Link- https://www.thaienquirer.com/15877/harassed-by-the-state-a-graffiti-artists-

considers-his-life-his-safety-and-exile/

Palang Pracharath Party’s Sira Jenjaka is planning to dismiss Pannika Wanich, a leading

figure in the Progressive Movement and former Future Forward Party spokeswoman,

from the House committee on law, justice and human rights for "inappropriate"

behaviour and being “impolite”.

o Link-

https://www.nationthailand.com/news/30391737?utm_source=category&utm_mediu

m=internal_referral

Political parties on Wednesday urged parliament to engage student activists protesting

against the government in a process organised in such a way to allow them to

communicate their concerns.

o Link- https://www.bangkokpost.com/thailand/politics/1955843/parliament-must-

engage-protesters

Economic News Headlines in Thai Media

The political movement from the anti-government group could put Thailand under heavy

political strain, something which could hamper an economy already feeling the effects of

the coronavirus pandemic.

o Link- https://www.thaienquirer.com/15898/uprising-political-uncertainty-poses-

worsening-risk-to-thai-economy-experts-say/

On Wednesday morning (July 22, 2020), the Sri Trang Agro-Industry (STA) and Sri

Trang Gloves Thailand (STGT) share prices dropped as a response to positive news for a

coronavirus vaccine.

o Link- https://www.thaienquirer.com/15920/sta-stgt-share-price-drops-10-per-cent-as-

covid-19-vaccines-test-positive/

On Wednesday, the Supreme Administrative Court dismissed a new inquiry into the case

against Hopewell and ordered the Thai government to pay 24 billion baht in

compensation to the company.

o Link- https://www.thaienquirer.com/15935/supreme-administrative-court-orders-thai-

government-to-pay-24-billion-baht-in-compensation-to-hopewell/

Charoen Pokphand Foods (CPF) reported that its subsidiary in Hong Kong, CP Pokphand

(CPP), expects to achieve a first-half net profit of US$310 million to $330 million

(Bt10.4 billion), a significant increase of $82 million compared to the same period last

year.

o Link-

https://www.nationthailand.com/business/30391745?utm_source=category&utm_me

dium=internal_referral

A Japanese restaurant has warned other food businesses to be on their guard after it was

caught out by Thailand’s strict law on promoting alcohol.

o Link-

https://www.nationthailand.com/news/30391755?utm_source=category&utm_mediu

m=internal_referral

Government spokesperson Traisuree Taisaranakul announced that the Cabinet resolved

to extend visa amnesty for foreigners stranded in Thailand to September 26.

o Link-

https://www.nationthailand.com/news/30391756?utm_source=category&utm_mediu

m=internal_referral

Despite construction delays, the elevated MRTA Pink Line between Khae Rai and Min

Buri will begin operating in September 2021, aiming for 200,000 passengers per day.

o Link-

https://www.nationthailand.com/news/30391752?utm_source=category&utm_mediu

m=internal_referral

Thailand's commercial banking sector reported a drop in aggregate net profit for both the

second quarter and first six months, mainly from higher provisions set aside to cushion

against rising non-performing loans (NPLs).

o Link- https://www.bangkokpost.com/business/1955943/net-profits-dip-as-loan-

buffers-spike

Banks have provided financial aid worth a total of Bt6.7 trillion to more than 10 million

debtors suffering from the impact of Covid-19, while some believe 70 per cent of the

borrowers will repay their debts once the aid package comes to an end.

o Link-

https://www.nationthailand.com/business/30391770?utm_source=category&utm_me

dium=internal_referral

Tech, healthcare stocks and digital learning platforms are the winners in this present

situation, the head of wealth product development at Tisco bank, Vorasinee Sethabutr,

said, recommending the firm’s mutual funds that invest in such companies.

o Link-

https://www.nationthailand.com/business/30391768?utm_source=category&utm_me

dium=internal_referral

Gold prices continued their rally for a third consecutive day, breaking the US$1,860-per-

ounce threshold at one point, as hopes of further financial stimulus are high amid the

persistent pandemic and flaring Sino-US tensions.

o Link- https://www.bangkokpost.com/business/1955955/prices-pick-up-for-3rd-

straight-day-closing-in-on-all-time-high

Bad loans at the Export-Import Bank of Thailand (Exim Bank) rose by almost two

percentage points in the first half from year-end 2019 as Thai exports have been reeling

from the pandemic.

o Link- https://www.bangkokpost.com/business/1955919/exim-bank-sees-npls-

increase-from-2019

Thailand risks dropping to No.5 in rice exports over the next decade if the country

remains complacent and does not develop a long-term rice strategy for seeds and

competitiveness, warns the Thai Rice Exporters Association.

o Link- https://www.bangkokpost.com/business/1955959/rice-exports-poised-to-drop-

in-next-decade

SET‑listed SCG Ceramics, a subsidiary of SCG Cement-Building Materials, expects its

full-year revenue will decrease by up to 10-15% from around 11 billion baht last year

because of the pandemic's impact on the construction sector.

o Link- https://www.bangkokpost.com/business/1955907/scg-ceramics-projects-10-15-

less-revenue

Thai Airways International (THAI) has arranged three flights to London next month

targeting students, business people and foreign nationals stranded by the Covid-19

pandemic.

o Link- https://www.bangkokpost.com/business/1955999/thai-plans-sos-flights-to-

london

The Centre for Covid-19 Situation Administration has approved the entry of foreign

business reps, specialists, diplomats, migrant workers, exhibitors, film crews, medical

tourists and Thailand Elite card members.

o Link- https://www.bangkokpost.com/business/1955703/thousands-of-foreigners-to-

be-allowed-entry

Issues to be watched out for

July 2020 – The Expressway of Thailand (EXAT)’s planned opening schedule of the new

Motorway Route 7 Section from Pattaya to Map Ta Phut.

July 29, 2020 – The Federation of Thai Industries is set to hold the 2020 annual general

meeting (AGM) to pick a new chairman after postponement from March 30 this year.

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

the emergency decree.

July 31, 2020 – The reshuffle list of senior army officers is expected to be presented by

the armed forces chiefs at the Defense Council Meeting chaired by Prime Minister and

Defence Minister Prayut Chan-o-cha.

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.

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

government is expected to sail through parliament.

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.

Key Data

SET Index 1,357.04 -19.96

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 July 22, 2020

Buying, Selling or Transfer of shares by Owners/Management

Stock Code Volume Value Action

INGRS 30,000 0.37 Purchase

MJD 1,123,700 1.6 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 22 Jul 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 5,790.01 9.07 5,218.97 8.17 571.04 -

Proprietary

Trading

5,863.21 9.18 7,069.71 11.07 -1,206.50 -

Foreign Investors 18,098.77 28.34 20,207.17 31.64 -2,108.40 -

Local Individuals 34,111.05 53.41 31,367.19 49.12 2,743.86 -

Monthly Cumulative between 1 - 22 Jul 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 82,001.16 8.63 79,230.88 8.34 2,770.29 -

Proprietary

Trading

95,633.57 10.07 91,975.24 9.69 3,658.33 -

Foreign Investors 311,889.42 32.84 317,031.83 33.38 -5,142.42 -

Local Individuals 460,123.73 48.45 461,409.93 48.59 -1,286.20 -

Yearly Cumulative since 1 Jan - 22 Jul 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 1,045,809.63 11.25 968,877.29 10.42 76,932.34 -

Proprietary

Trading

938,164.02 10.09 933,978.23 10.05 4,185.79 -

Foreign Investors 3,245,716.74 34.92 3,467,504.99 37.3 -

221,788.25

-

Local Individuals 4,066,327.35 43.74 3,925,657.23 42.23 140,670.12 -

Total Trading Value 63,863.04 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.