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A nationwide operation led by the Cyber Crime Investigation Bureau (CCIB) successfully raided 29 key locations, effectively dismantling a large-scale China-backed cryptocurrency fraud call centre network. The CCIB seized considerable cash assets and a Rolls-Royce car. High-profile raids were orchestrated yesterday in three cities, Bangkok, Pathum Thani, and Chon Buri. Although endorsed by the infamous Tak City director, the CCIB’s strategic action managed to seize cash of 4.4 million baht, 17 bank books, and 16 ATM and credit cards at a luxury condominium located right in the heart of Asoke-Rama 9 city district. A young woman, 24 year old Mome Aye, a Burmese national, was arrested at the site. She was restrained under Khon Kaen Provincial Court warrant number 505/2023, dated yesterday, on charges of cryptocurrency fraud, collaborating to manipulate computer data possibly causing harm to others or the public, and agreeing to commit money laundering. Nevertheless, at 6am, nothing illegal was found at two of the targeted locations linked to the call centre or any related evidence. This leads directly to the operation of the cryptocurrency king’s network, where the police have managed to apprehend one suspect along with some significant evidence. The cryptocurrency fraud operation extended to Chon Buri Province, wherein the police effectively confiscated a Rolls-Royce car. By Nattapong Westwood Caption: Image via Khaosod Full Story: https://thethaiger.com/news/national/nationwide-cyber-police-crackdown-disrupts-major-china-backed-cryptocurrency-fraud-operation -- Thaiger 2023-08-17 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Thailand’s Second Satellite “THEOS-2” Set to be Launch Soon BANGKOK, Aug 17 (TNA) — THEOS-2, Thailand’s second satellite system for earth observation, is now complete and ready to be launched soon, according to Deputy Government Spokesperson Rachada Dhanadirek. Full Story: https://aseannow.com/topic/1303884-thailand’s-second-satellite-“theos-2”-set-to-be-launch-soon/

BANGKOK, Aug 17 (TNA) — THEOS-2, Thailand’s second satellite system for earth observation, is now complete and ready to be launched soon, according to Deputy Government Spokesperson Rachada Dhanadirek. Ms Rachada, earlier this week, disclosed about the progress of THEOS-2, Thailand’s second satellite system for earth observation, designed and developed by the Thais through knowledge transfer and capacity building. She said the assembly and testing of THEOS-2 is now complete. Full Story: https://tna.mcot.net/english-news-1224743 -- Thai News Agency 2023-08-17 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

PM Observes Double-Track Rail Projects in Saraburi SARABURI, Aug 17 (TNA) — Prime Minister General Prayut Chan-o-cha on Thursday took a field visit to Saraburi province to inspect the Thai-Chinese Cooperation Project on the Bangkok-Nong Khai High-speed Railway. Full Story: https://aseannow.com/topic/1303883-pm-observes-double-track-rail-projects-in-saraburi/

SARABURI, Aug 17 (TNA) — Prime Minister General Prayut Chan-o-cha on Thursday took a field visit to Saraburi province to inspect the Thai-Chinese Cooperation Project on the Bangkok-Nong Khai High-speed Railway. The Prime Minister followed up on the construction progress of the 1st train tunnel (Pha Sadet Tunnel) of the double-track railway, route Map Kabao (Saraburi)-Thanon Chira Junction (Nakhon Ratchasima), at Hin Lap Station construction site in Muak Lek district. He was briefed by State Railway of Thailand (SRT)’s Governor Nirut Maneephan on the overall progress of Map Kabao-Thanon Chira Junction double-track railway construction, and, then, left for the site of Muak Lek Tunnel in Muak Lek subdistrict, Muak Lek district, to monitor the construction progress of the 1st section of Thai-Chinese Bangkok-Nong Khai high-speed railway project (Bangkok-Nakhon Ratchasima). Full Story: https://tna.mcot.net/english-news-1224724 -- Thai News Agency 2023-08-17 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Post-IPO growth and profitability of Thai listed companies Privately-held firms often choose to pursue an initial public offering (IPO) with the hope that the IPO will bring an influx of cash and help grow their business. Full Story: https://aseannow.com/topic/1303881-post-ipo-growth-and-profitability-of-thai-listed-companies/

Privately-held firms often choose to pursue an initial public offering (IPO) with the hope that the IPO will bring an influx of cash and help grow their business. That was what 305 Thai companies did in the past 10 years, during which time most had achieved that goal within three years of their IPO. These companies represented various industry groups, mostly in Services and Property & Construction. According to operating results and the growth of companies that were listed on the Stock Exchange of Thailand in the past 10 years, most of the 305 companies, including 132 Market for Alternative Investment (mai)-listed ones, saw increases in revenue, operating profits and market capitalization in three years after going public. In terms of revenue, 30 percent of such companies grew their average annual revenue by more than 20 percent and almost 80 percent of all showed annualized growth. About 80-90 percent of new members in the Financials, Technology, Services, and Agro & Food industry groups posted an average annual increase in revenue for three consecutive years after the IPO. Regarding net profits, nearly 50 percent showed an average growth of more than 20 percent in three years after the IPO, while 65 percent reported annualized growth. The most outstanding were those in the Financials and Resources industry groups, with nearly 80 percent registering continuous growth in net profits for the three consecutive years after their IPO. Only 25 companies from all 305 or 8 percent slipped into the red in three years after going public. On market cap, half of the 173 companies listed on the SET and 70 percent of the 132 companies listed on mai between 2013 and 2022 enjoyed an increase in the value of their stocks. Remarkably, some 21 mai-listed companies or 14 percent of the total mai-listed companies during 2013-2022 were qualified for the main board listing and moved to the SET following a sharp rise in their market cap. The process took less than three years for more than half of these companies which were mostly in the Resources and Services industry groups. The front-runners are new members of the Technology and Agro & Food industry groups, as the market cap for 75 percent of them has seen healthy growth up to now. The percentage for the Financials and Services industry groups was slightly lower, at 65 percent. The road was not paved with roses for all: of all 305 companies, seven companies or 2 percent saw the value of their companies drop by more than 25 percent from the IPO level. But what is remarkable here is the majority have achieved their business growth ambitions with public funds mobilized via the capital market. By The Stock Exchange of Thailand Source: https://www.thailandnow.in.th/business-investment/post-ipo-growth-and-profitability-of-thai-listed-companies/ -- THAILAND NOW 2023-08-17 -- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

New elderly allowance requirements will better help those in need: Interior Minister BANGKOK (NNT) - Minister of Interior Gen Anupong Paochinda has defended the new requirements for the government’s elderly allowance, saying the revised criteria will better help those in need. Meanwhile, those currently eligible for the allowance will continue to receive the monthly payments. Full Story: https://aseannow.com/topic/1303879-new-elderly-allowance-requirements-will-better-help-those-in-need-interior-minister/

BANGKOK (NNT) - Minister of Interior Gen Anupong Paochinda has defended the new requirements for the government’s elderly allowance, saying the revised criteria will better help those in need. Meanwhile, those currently eligible for the allowance will continue to receive the monthly payments. Gen Anupong said the new requirements have been updated in line with the Council of State’s ruling that the existing regulations of the National Elderly Council and the Ministry of Interior’s regulations on the elderly allowance payouts through local administrative organizations conflict with the Elderly Person Act and the constitution. The new regulations will make the payouts only eligible for senior citizens with no or inadequate income, regardless of their eligibility for other pension schemes. This will differ from the current regulations, in which persons receiving pensions from other agencies are not eligible to receive this assistance, which does not benefit some elders who receive payments under other schemes. The new regulations will require that all payout recipients meet the low-income criteria set by the National Elderly Council. Such criteria remain to be announced by the council, meaning the previous regulations and eligibility rules remain in effect for now. All people receiving monthly payouts now will continue to receive the same benefits. The Minister of Interior revealed the new criteria will be drafted together with the National Elderly Council and the new Cabinet. By Tanakorn Sangiam Source: https://thainews.prd.go.th/en/news/detail/TCATG230817095530549 -- NNT 2023-08-17 -- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

BANGKOK(NNT) - The delay to the formation of the new government amid high levels of household debt, living costs, and interests as well as a slowdown in exports have resulted in the Thai Industries Sentiment Index (TISI) dropping to its lowest level in 10 months. The index stood at 92.3, having declined from the prior month due to a slowdown in demand for goods and in the manufacturing sector. Domestic factors such as high levels of household debt and high living costs have weakened the purchasing power of households, resulting in diminished demand for various goods. Interest rates, meanwhile, remain in an upward direction and are pushing up the costs of borrowing. The unclear political situation was now having impacts on private sector confidence. According to the Federation of Thai Industries (FTI), risk factors outside of Thailand include the still-fragile global economy that has now caused Thailand’s exports to slow down for 9 consecutive months. Another foreign risk factor was the lower-than-expected growth of the Chinese economy. The FTI’s forward confidence index for the next 3 months stood at 100.2 – also a decline from the previous month’s figure. The drop was attributed to businesses being worried about delays to the formation of the new government, which may adversely affect state sector budget planning. The delay in government formation was also expected to result in a lack of continuity in implementing economic policies. The private sector was also concerned about the tendency for production costs such as those for fuel, electricity, and labor to rise. Such a rise in costs would be an obstacle to business operations amid the high uncertainty in the global economy at present. FTI Chairman Kriengkrai Thiennukul said the private sector wanted a new government to be quickly formed and economic rehabilitation and stimulation policies to be rapidly issued. He said the private sector wanted investors’ confidence to be fostered and measures to be issued to mitigate the impacts of heightened borrowing costs. This would improve small and medium enterprises’ liquidity and reduce their risk of developing non-performing loans. By Namo Vananupong Source: https://thainews.prd.go.th/en/news/detail/TCATG230817092040532 -- NNT 2023-08-17 -- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Senator Duckworth Energizes US-Thailand Trade Ties in Meeting BANGKOK (NNT) - US Senator Tammy Duckworth on Aug 16 took part in a meeting with prominent members of the American Chamber of Commerce in Thailand (Amcham Thailand) to discuss and strengthen the longstanding trade relationship between the United States and Thailand. The gathering served as a platform to explore avenues for further collaboration, particularly as this year marks the impressive 190th anniversary of the partnership. Full Story: https://aseannow.com/topic/1303877-senator-duckworth-energizes-us-thailand-trade-ties-in-meeting/

BANGKOK (NNT) - US Senator Tammy Duckworth on Aug 16 took part in a meeting with prominent members of the American Chamber of Commerce in Thailand (Amcham Thailand) to discuss and strengthen the longstanding trade relationship between the United States and Thailand. The gathering served as a platform to explore avenues for further collaboration, particularly as this year marks the impressive 190th anniversary of the partnership. During the meeting, Senator Duckworth, the first Thai-American elected to Congress, conveyed her heartfelt gratitude for the significant economic connections that unite the two nations. She highlighted that the enduring partnership with Thailand plays a crucial role in driving growth and progress in the Asia Pacific region. She also emphasized the potential of their strategic collaboration to strengthen their ties and cultivate inventive approaches that promote economic advancement and shared prosperity. The meeting, attended by representatives from over 600 member companies of Amcham, featured distinguished business leaders from an array of sectors including automotive, healthcare, food and beverages, manufacturing, banking and finance, and hospitality. The primary focus of discussions was to identify novel economic opportunities, encourage cross-sector collaboration, and stimulate innovation and investment. Heidi Gallant, Amcham’s Executive Director added that the gathering helped foster synergies that not only amplify trade but also propel technological advancement and sustainable growth between the two countries. Amcham Thailand is a non-profit organization that represents the interests of over 600 member companies from a wide range of sectors. Its mission is to bolster trade, investment, and cultural exchange between Thailand and the United States, promoting collaboration for shared growth and development. By Krajangwit Johjit Source: https://thainews.prd.go.th/en/news/detail/TCATG230817115047598 -- NNT 2023-08-17 -- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

FDI in Thailand for first 7 months drops 20% year on year Thosapone Dansuputra, director general of the Business Development Department Foreign investors have pledged to invest in various projects in Thailand to the tune of 58.9 billion baht during the first seven months of this year, with those from Japan topping the list, according to Thosapone Dansuputra, director-general of the Business Development Department and secretary of the Foreign Business Committee. Full Story: https://aseannow.com/topic/1303874-fdi-in-thailand-for-first-7-months-drops-20-year-on-year/

Foreign investors have pledged to invest in various projects in Thailand to the tune of 58.9 billion baht during the first seven months of this year, with those from Japan topping the list, according to Thosapone Dansuputra, director-general of the Business Development Department and secretary of the Foreign Business Committee. Although the number of foreign investors permitted to invest in Thailand has increased by 17%, to 377, the amount of pledged investment has dropped by about 20%, from about 73.6 billion baht during a seven-month period last year. The five top foreign investors during the seven-month period are Japan, 84 investors and 19.8 billion baht in pledged investment, the US, 67 investors and three billion baht in pledged investment, Singapore, 16 investors and 12.9 billion baht in pledged investment, China, 28 investors and 11.6 billion baht in pledged investment and Germany, 16 investors and 1.29 billion baht in pledged investment. Caption: Thosapone Dansuputra, director general of the Business Development Department Full Story: https://www.thaipbsworld.com/fdi-in-thailand-for-first-7-months-drops-20-year-on-year/ -- Thai PBS 2023-08-17 -- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

August 22nd set for next vote on a new prime minister House speaker Wan Muhamad Noor Matha has set August 22nd as the date for the next joint sitting of the Thai parliament to select a new prime minister. Full Story: https://aseannow.com/topic/1303792-august-22nd-set-for-next-vote-on-a-new-prime-minister/

House speaker Wan Muhamad Noor Matha has set August 22nd as the date for the next joint sitting of the Thai parliament to select a new prime minister. He said that he and Senate president Pornpetch Wichitcholchai are agreed on the date. The new date was set after the Constitutional Court on Wednesday rejected a petition questioning the constitutionality of parliament’s decision to reject the renomination of Move Forward leader Pita Limjaroenrat. Full Story: https://www.thaipbsworld.com/august-22nd-set-for-next-vote-on-a-new-prime-minister-for-thailand/ -- Thai PBS 2023-08-16 -- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Three new water management measures adopted to cope with El Niño Three new water management measures were adopted at a meeting of the National Water Command Centre today (Wednesday), in anticipation of a prolonged drought after the rainy season this year, due to the effects of El Niño. Full Story: https://aseannow.com/topic/1303791-three-new-water-management-measures-adopted-to-cope-with-el-niño/

Three new water management measures were adopted at a meeting of the National Water Command Centre today (Wednesday), in anticipation of a prolonged drought after the rainy season this year, due to the effects of El Niño. Attending the meeting, chaired by Deputy Prime Minister Prawit Wongsuwan, were representatives from the Meteorological, Water Resources and Royal Irrigation departments, the Electricity Generating Authority of Thailand (EGAT) and the Hydro Informatics Institute. The first measure calls for the Royal Irrigation Department, EGAT and Water Resources Department to formulate a plan jointly for discharging water from the country’s 35 main reservoirs for use in line with priorities. Full Story: https://www.thaipbsworld.com/three-new-water-management-measures-adopted-to-cope-with-el-nino/ -- Thai PBS 2023-08-16 -- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Chaiyaphum Road crash leaves three women dead and three injured Photo courtesy of KhaoSod The quiet community of Chaiyaphum province was shattered yesterday by a horrific road accident involving an Isuzu pickup truck and an E-tan, a local transport vehicle. The unfortunate Chaiyaphum Road crash resulted in the tragic death of three women and injured three others. Full Story: https://aseannow.com/topic/1303789-chaiyaphum-road-crash-leaves-three-women-dead-and-three-injured/

The quiet community of Chaiyaphum province was shattered yesterday by a horrific road accident involving an Isuzu pickup truck and an E-tan, a local transport vehicle. The unfortunate Chaiyaphum Road crash resulted in the tragic death of three women and injured three others. Emergency responders were notified of the Chaiyaphum Road crash at 10am, according to Deputy Inspector Keratiphoom Puphalinin, an investigating officer at Nong Bua Khok Police Station. Immediate efforts were made to reach the scene of the accident to administer assistance. The team arrived at the location around the watermelon Stand, Ban Nontako, Nong Bua Khok Subdistrict, Chathara District, Chaiyaphum. The road, referred to as number 201, connects Chaiyaphum with the Sikhiew route. On arrival, the scene was nothing short of distressing, with injured individuals and fatalities strewn across the highway in the aftermath of the collision between the Isuzu pickup truck and the E-tan. Immediate first aid was administered, and the survivors, three in total, all with severe trauma, were rushed to Square District Hospital. Adding to the grief, the tragic Chaiyaphum road crash claimed the lives of three women, discovered on the shoulder of the road. They had been passengers in the E-tan, bearing the Nakhon Ratchasima license plate, number KJ510. The Isuzu pickup, a pastry delivery vehicle, bore the license plate 3K4900, Bangkok. Jerasak, a 41 year old individual, was identified as the driver of the pickup and was also injured in the accident. By Nattapong Westwood Caption: Photo courtesy of KhaoSod Full Story: https://thethaiger.com/news/national/horrific-road-crash-in-chaiyaphum-leaves-three-women-dead-and-three-injured-2 --Thaiger 2023-08-16 -- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Gold fraud: Trader arrested for defrauding investors of over 100 million baht Photo courtesy of KhaoSod A high-profile gold trader in Saraburi has been arrested on fraud charges stemming from her operation of a gold investment scheme that allegedly defrauded hundreds of investors out of over 100 million baht. The apprehension of the alleged fraudster, 38 year old Watsamon, took place at a post office in Tha Luang District, Lopburi, following a court-issued arrest warrant from Chai Badan District Court, dated May 8. Full Story: https://aseannow.com/topic/1303788-gold-fraud-trader-arrested-for-defrauding-investors-of-over-100-million-baht/

A high-profile gold trader in Saraburi has been arrested on fraud charges stemming from her operation of a gold investment scheme that allegedly defrauded hundreds of investors out of over 100 million baht. The apprehension of the alleged fraudster, 38 year old Watsamon, took place at a post office in Tha Luang District, Lopburi, following a court-issued arrest warrant from Chai Badan District Court, dated May 8. Watsamon managed a gold shop known as Fueang Gold Dang located in Nong Pla Lai Subdistrict, Mueang District of Saraburi. The shop’s inauguration attracted well-known beauty pageant stars to enhance its credibility. She also created a Facebook page and an account under the name Watsamon Tongkhiew and Fueng Gold Dang Aom Thong Sale Gold Online, to lure individuals into her gold investment scheme. The scheme promised monthly returns of 100 baht for each Salung (approximately a quarter of a bar) of gold invested. Attracted by the promise of steady returns, hundreds of investors poured in more than 100 million baht. However, when the time came for Watsamon to pay the promised returns, she failed to abide by her pledges and investors were unable to withdraw their funds. Indeed, the investors jointly reported the situation to the police and sought help from the Consumer Protection Police Division (CPPD) to expedite the gold fraud case. The arrest was made once the authorities learned that Watsamon had fled to Lopburi after allegations were made against her, reported KhaoSod. By Nattapong Westwood Caption: Photo courtesy of KhaoSod Full Story: https://thethaiger.com/hot-news/crime/gold-trader-watsamon-arrested-for-defrauding-investors-of-over-a-hundred-million-baht-in-bogus-gold-scheme --Thaiger 2023-08-16 -- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Sweet success: Thai fruit exports to China ripe with growth, thanks to fast track on China-Laos Railway Picture courtesy of MGR Online Thai fruit exports to China experienced a significant surge in the first five months of this year, growing by a staggering 365%. This upswing is predominantly accredited to the utilisation of the China-Laos Railway for transit, which has resulted in a significantly reduced delivery duration and leveraged the benefits of free trade deals, according to sources yesterday. Full Story: https://aseannow.com/topic/1303786-sweet-success-thai-fruit-exports-to-china-ripe-with-growth-thanks-to-fast-track-on-china-laos-railway/

Thai fruit exports to China experienced a significant surge in the first five months of this year, growing by a staggering 365%. This upswing is predominantly accredited to the utilisation of the China-Laos Railway for transit, which has resulted in a significantly reduced delivery duration and leveraged the benefits of free trade deals, according to sources yesterday. The railway route has been highly instrumental in creating lucrative openings for Thai products within the Chinese marketplace. It has effectively slashed the transit time to less than 15 hours, a drastic reduction from the preceding two-day journey by road, voiced Auramon Supthaweethum. Director-General of the Department of Trade Negotiations (DTN) helming Thailand’s Ministry of Commerce, she was cited in an interview with ThaiRath Online, reported Bangkok Post. Fruit exports from Thailand to China witnessed a substantial upshot since the inception of the China-Laos Railway in December 2021, added Auramon. Data showcasing shipments via the northeast dry port of Nong Khai, adjacent to the Laos border in the Southeast Asian nation, disclosed a quantum leap from 90.41 million baht (US$2.55 million) the preceding year to 1.96 billion baht (US$55million) in 2022. By Alex Morgan Caption: Picture courtesy of MGR Online Full Story: https://thethaiger.com/news/business/former-executive-explores-thai-fruit-exports-colossal-boom-through-china-laos-railway --Thaiger 2023-08-16 -- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe

Kru Kai Kaew believers reportedly sacrifice puppies and kittens to the diety Photo via Facebook/ Thai Special Forces Thai believers in the supernatural power of the Kru Kai Kaew deity rocked social media this week after they reportedly sought puppies and kittens for a sacrificial ceremony in the pursuit of luck and prosperity. The practice has taken a dark turn as some followers hope to receive lucky lottery numbers in exchange for innocent lives. Full Story: https://aseannow.com/topic/1303784-kru-kai-kaew-believers-reportedly-sacrifice-puppies-and-kittens-to-the-diety/