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Central Fund Holds Only 43 Billion Baht for Digital Wallet Project Picture courtesy: The Government Public Relations Department In a pivotal development, the government has confirmed that 43 billion baht from the Central Fund will be allocated to support the digital wallet project in this fiscal year. Full story: https://aseannow.com/topic/1332834-central-fund-holds-only-43-billion-baht-for-digital-wallet-project/

In a pivotal development, the government has confirmed that 43 billion baht from the Central Fund will be allocated to support the digital wallet project in this fiscal year. This funding decision comes as part of the Pheu Thai-led government's broader strategy to implement the digital aid program aimed at bolstering economic activities by providing direct support to citizens through digital transactions. The Prime Minister’s Office Minister, Jakapong Sangmanee highlighted the specifics of the funding during a session with journalists. This allocation, which represents approximately 40% of the total Central Fund designated for the current fiscal year, stands significantly lower than the rumored 100 billion baht figure. The total project cost is set at 450 billion baht, with a reduction from the initially projected 500 billion baht following analyses suggesting fewer citizens may participate than anticipated. This fund's utilization is legally sanctioned, following consultations with the Council of State, affirming the government's commitment to transparency and lawful financial management. It is designed to cut across several fiscal periods, with an additional 285 billion baht earmarked for the coming year, complemented by a directed government budget of 165 billion baht for the ongoing fiscal cycle. The reallocation from the Central Fund also coincides with the government’s policy shift away from additional external borrowing which was initially estimated at 172.3 billion baht. This strategic financial pivot is set to partially finance the populist digital wallet initiative without the burden of new loans. As public anticipation builds, the Pheu Thai-attached Prime Minister is slated to reveal more details about the project on July 24. The government's management of this large-scale financial commitment continues to stir discussions, with opposition figures cautioning against potential risks to the nation's financial stability. With this significant financial move, the government hopes to not only enhance individual financial agility but also stimulate economic growth by infusing capital through digital channels directly into the economy. The remaining funds in the Central Fund will be reserved for emergency measures, ensuring a fiscal balance that can address unexpected challenges such as natural disasters. TOP Picture courtesy: The Government Public Relations Department -- 2024-07-13 Get our Daily Newsletter - Click HERE to subscribe

Foreigner and Thai woman get into heated argument on BTS (video) by Petch Petpailin Siam BTS Station in the rush hour | Photo via X/ @js100radio A video went viral of a foreign man and a Thai woman arguing on the BTS Skytrain in Bangkok after the foreigner almost missed the train because the crowd at the door were reluctant to make space and move inside the carriage. Full story: https://aseannow.com/topic/1332833-foreigner-and-thai-woman-get-into-heated-argument-on-bts-video/

A video went viral of a foreign man and a Thai woman arguing on the BTS Skytrain in Bangkok after the foreigner almost missed the train because the crowd at the door were reluctant to make space and move inside the carriage. A Thai woman, Jah, shared the video of the argument on social media and later sent it to news agencies. In an interview with ThaiRath, Jah revealed that she boarded the train at Siam BTS Station with the two people in the video. The foreign man in the black shirt almost missed the train because some passengers would not step aside, remaining at the door and blocking others from entering. The foreign man managed to get on the train and walked inside, muttering complaints. According to Jah, the foreign man bumped into the woman in a pink shirt and did not apologise. He asked her to move but his request sounded rude to the woman, sparking the argument. The following exchange was heard: Foreign man: “Shut the f*ck up! Recording me? I just told you to move onto the f*cking train.” Thai woman: “Why do you have to use rude words?” Foreign man: “Shut up! You don’t understand English. It wasn’t rude. I just said get the f*ck out of the way.” Thai woman: “That’s a rude word.” Foreign man: “That’s not rude, you don’t understand English!” Another foreign woman on the train attempted to calm the man down. She was heard intervening, saying, “Excuse me, you are being rude. So, just calm down.” Foreigner criticised for English insult The foreign man, who spoke in an American accent but had the look of a Chinese man, responded by saying that the rude people were those who did not let others onto the train. The foreign woman tried to explain that the train was full but the man continued to point out that the space in front of him was enough for six people. The foreign man and the Thai woman continued to yell at each other before the video ended. Jah voiced her opinion during the interview with Thai Rath, stating that she understood both sides of the argument from the foreign man and the Thai woman. The foreigner wanted to get home as fast as possible just like the other passengers on the train, so people should move inside to allow others to board. She also understood the Thai woman, as anyone would be angry if someone bumped into them or swore at them without an apology. Many Thai netizens pointed out that the foreigner should not insult Thai people about their English language skills if he cannot speak Thai, even though he is in Thailand. Some argued that they have also witnessed foreigners standing at the train door. Others agreed with the foreign man that many Thai passengers ignore others and always stand at the door for their convenience when getting off. by Petch Petpailin Siam BTS Station in the rush hour | Photo via X/ @js100radio Source: The Thaiger 2024-07-13 Get our Daily Newsletter - Click HERE to subscribe

Electricity price for September-December to rise The Energy Regulatory Commission may have to increase the price of electricity for the September-December period to between 4.65 baht/unit and 6.01 baht/unit, from the current rate of 4.18 baht/unit, said Poonpat Leesombatpiboon, secretary-general of the Office of Energy Regulatory Commission (OERC). He said that the OERC will, however, hold public hearings via its website, to gauge opinions about the price rise, from Friday through July 26. There are three price options proposed by the OERC. 6.01 baht/unit (up 44%), 4.92 baht/unit (up 18%) and 4.65 baht/unit (up 11%). Poonpat said that the baht currency has weaken against the Greenback, to 36.63 baht per dollar (down by 1.29 baht per dollar) for the period from May to August. Full story: Thai PBS 2024-07-13 Get our Daily Newsletter - Click HERE to subscribe

99-Year Land Lease To Foreigners Will Harm Thailand: Jatuporn Jatuporn Prompan. File photo courtesy: Naewna Former Thai Member of Parliament and Red Shirt leader Jatuporn Prompan has vehemently opposed the proposed plans to allow foreigners 99-year leases on land and the introduction of a digital wallet scheme, arguing that both could have detrimental long-term effects on the country. Full story: https://aseannow.com/topic/1332832-99-year-land-lease-to-foreigners-will-harm-thailand-jatuporn/

Former Thai Member of Parliament and Red Shirt leader Jatuporn Prompan has vehemently opposed the proposed plans to allow foreigners 99-year leases on land and the introduction of a digital wallet scheme, arguing that both could have detrimental long-term effects on the country. In a recent statement, Jatoporn criticised the government’s decision, suggesting the relaxation of these property regulations will primarily benefit real estate businesses struggling to sell a backlog of approximately 1.3 million unsold condominium units. The Thai government, led by Thailand's Prime Minister Srettha Thavisin, announced a significant overhaul of property regulations designed to attract more foreign investment. Detailed proposals include extending the maximum lease term for foreigners from 30 to 99 years and increasing the foreign ownership quota in condominium buildings from 49% to 75%. Though additional measures ensure Thai nationals retain 51% control over condo management, concerns remain about the potential exploitation of these policies. Simultaneously, Jatuporn expressed sever concerns over the 10,000 baht digital wallet proposal, which he believes will escalate national debt without tangible benefits to the Thai populace. He warned that such monetary handouts would result in a catastrophic financial burden, implicating future generations and potentially harming the nation's economic stability. Jatuporn underscored the lack of safeguards against illicit financial flows through digital transactions, which could introduce untraceable 'grey money’ into the economy. He stressed that while financial aid is necessary, it should not come at the cost of economic integrity and sustainability. Critics like Jatuporn point to the need for a thorough impact assessment and robust safeguards to ensure that these ambitious measures do not undermine the country’s economic or social fabric. The debate continues as the Thai government moves forward with its legislative changes amidst growing public scrutiny. TOP: Jatuporn Prompan. File photo courtesy: Naewna -- 2024-07-13 Get our Daily Newsletter - Click HERE to subscribe

to continue: Thailand Live Saturday 13 July 2024 https://aseannow.com/topic/1332831-thailand-live-saturday-13-july-2024/

Thailand’s DDC issues health alert on rising eye infections due to contaminated tap water An image of an Acanthamoeba | Photo by CDC/ Dr. George Healy taken from Wikipedia The Department of Disease Control (DDC) has issued a public health alert following the discovery of a conjunctivitis outbreak affecting 200 residents in a condominium complex in the Lardphrao area in Bangkok. Investigations have revealed the presence of the parasite Acanthamoeba in the tap water supply within the condominium units. Full story: https://aseannow.com/topic/1332813-thailand’s-ddc-issues-health-alert-on-rising-eye-infections-due-to-contaminated-tap-water/

The Energy Regulatory Commission (ERC) announced a public consultation from today, July 12, until July 26 to discuss the final electricity tariff adjustment of the year. The proposed adjustments could see electricity bills rise from September to December this year, with costs potentially increasing from 4.18 baht per unit to between 4.65 and 6.01 baht per unit. Shocking surge: Thai electricity tariffs set to spark debate Image courtesy of KhaoSod Full story: https://aseannow.com/topic/1332800-shocking-surge-thai-electricity-tariffs-set-to-spark-debate/

BREAKING: Thailand to waive visa requirements for tourists from 93 countries starting July 15 By Online Reporter Foreign tourists arrive at Suvarnabhumi Airport. File photo The Ministry of Interior has confirmed that Thailand will waive visa requirements for tourists from 93 countries starting July 15, 2024, in an effort to boost tourism and ease travel restrictions. Full story: https://aseannow.com/topic/1332785-thailand-to-waive-visa-requirements-for-tourists-from-93-countries-starting-july-15/

The Ministry of Interior has confirmed that Thailand will waive visa requirements for tourists from 93 countries starting July 15, 2024, in an effort to boost tourism and ease travel restrictions. This expansion, up from the current 57 countries, was announced by Traisulee Traisoranakul, secretary to the Interior Minister Anutin Charnvirakul, on Friday. The new regulation will allow visitors to stay in Thailand for up to 60 days without a visa. Additionally, the number of countries and territories whose citizens require a visa upon arrival will increase from 19 to 31. In a further move to attract skilled workers, a new “workcation” visa called the Destination Thailand Visa (DTV) will be introduced. This visa will permit qualified foreign professionals to stay and work in Thailand for up to 180 days at a time. The new visa measures, which are awaiting Cabinet approval, are expected to be a formality, according to Traisulee. Get our Daily Newsletter - Click HERE to subscribe

13 year old Thai boy dies after ketamine injection by his friends by Petch Petpailin Photo via KomChadLuek The family of a 13 year old Thai boy suspected his friends of killing him with a poisonous kratom drink. The teenager’s friends later confessed to giving the victim an injection of ketamine, which led to his death. Full story: https://aseannow.com/topic/1332783-13-year-old-thai-boy-dies-after-ketamine-injection-by-his-friends/

The family of a 13 year old Thai boy suspected his friends of killing him with a poisonous kratom drink. The teenager’s friends later confessed to giving the victim an injection of ketamine, which led to his death. The teenager, Akkarawat “Tigger” Phonlasen, was found lying lifeless on the sofa in his home in Bangkok on the morning of July 7. He had foam around his mouth and his body was covered with vomit stains. His family performed CPR and called medical workers to the scene but Tigger could not be saved. Tigger’s aunt, Palita, told KomChadLuek that Tigger left home on the evening of July 6, saying he was going to a barbecue restaurant with friends and arrived home at about 9pm. He then lay on the sofa and fell asleep. Palita said she heard Tigger snoring louder than usual, so she went to check on him. She thought Tigger was exhausted and sleepy, so she gave him a blanket before going to sleep, only to wake up to see his lifeless body. With foam around his mouth, the family suspected that Tigger must have consumed something poisonous, which led to his death. They checked his mobile phone and conversations with his friends, discovering that Tigger attended a kratom party, not a barbecue. Ketamine overdose In a conversation with an older male friend, Tigger asked the friend to bring him a kratom drink. This made the family suspect that this friend and the kratom drink might be involved in Tigger’s death. Aside from the conversation about kratom, the friend also sent Tigger a picture of a gun. The gun was placed on a table, together with a syringe that was supposedly for drug use, making the family suspect a conflict between Tigger and his friends. The family decided to seek help from non-profit organisation Saimai Survive to follow up on the case. The family wanted the police to conduct an autopsy on Tigger’s body to see if there were any toxic substances in his system. The family then contacted Tigger’s friends to ask about the situation at the party. The friends initially revealed that they gave Tigger the kratom drink but then eventually confessed that they also injected him with ketamine. Tigger’s family filed a complaint against the friends, accusing them of intentional murder. The police planned to summon all the friends for questioning. If the police find that Tigger was willing to take the drug, the friends may face a lesser charge. by Petch Petpailin Photo via KomChadLuek Source: The Thaiger 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Meatball mishap prompts prosecutors to grill Buriram thief by Ryan Turner Image courtesy of KhaoSod Prosecutors have called for additional investigation into a case involving the theft of grilled meatballs, which were stolen out of desperation to cook for a man’s children and to share with his elderly, ill parents. This case raises concerns about whether it should be classified as a non-beneficial prosecution. Full story: https://aseannow.com/topic/1332777-meatball-mishap-prompts-prosecutors-to-grill-buriram-thief/

Prosecutors have called for additional investigation into a case involving the theft of grilled meatballs, which were stolen out of desperation to cook for a man’s children and to share with his elderly, ill parents. This case raises concerns about whether it should be classified as a non-beneficial prosecution. The Lawyers Council of Thailand offered assistance, noting that the crime stemmed from hunger and basic survival needs. The incident occurred yesterday, July 11, when the owner of a grilled meatball company submitted CCTV footage to the police in Buriram province, showing a man stealing one of two bags of meatballs worth 300 baht left unattended outside the shop. The police subsequently arrested 50 year old Thong who confessed to the crime, stating he saw the meatballs unattended and the shop was closed. Thong explained that he took the meatballs to fry them as a meal for his children and to give some to his sick, elderly parents. This situation quickly gained attention on social media, where many expressed sympathy for him. Although the shop owner has withdrawn the complaint, the police insist that the case must proceed because it involves a non-compoundable criminal offence that cannot be settled privately. The Deputy Spokesperson of the Office of the Attorney General, Nakhon Thongpairawan, revealed that the provincial prosecutor has instructed the investigators to conduct further inquiries under the Criminal Procedure Code Section 143, focusing on the facts and motivations behind the crime. This delay means the case could not be filed within the 48-day remand period, leading to Thong’s temporary release. Nakhon also noted that if it is determined that Thong’s meatball theft was acted out of dire poverty and has no prior criminal record, the case might be deemed non-beneficial to prosecute. The decision to dismiss the case would rest solely with the Attorney General under Section 21 of the Public Prosecutor Act. Constitutional rights Meanwhile, the President of the Lawyers Council of Thailand under the Royal Patronage, Wichian Chubtaisong stated that he has been closely monitoring the case and views it as a matter of constitutional rights and freedoms. He has appointed lawyer Chakrit Yangnok, an advisor to the President of the Lawyers Council, to liaise with local officials in Lam Plai Mat district, Buriram province. Additionally, lawyer Wuttikarn Kulsuwan, President of the Buriram Province Lawyers Council, has been directed to coordinate with the Buriram Provincial Court to gather accurate information regarding Thong’s detention without bail or temporary release. The court has permitted temporary release but requires a guarantor or relative to sign a release contract. Should Thong fail to appear in court or flee, a penalty of 75,000 baht must be paid. However, Thong has been unable to find a guarantor or provide the required security, leading to his continued detention. Tomorrow marks the end of Thong’s remand period, and the President of the Nang Rong District Lawyers Council, Vithaya Watthana will visit him in prison to offer legal assistance and support, reported KhaoSod. by Ryan Turner Image courtesy of KhaoSod Source: The Thaiger 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

UPDATE: Pattaya residents sin-sitively slam ‘Sin City’ slur by Petch Petpailin Photo by Tiwakorn Kritmanee and Montira Pengrat via Facebook/ ของดีประเทศไทย Pattaya residents hit out to defend their city’s image after a major Thai news outlet referred to Pattaya as “Sin City” and a “Paradise of Prostitutes” in a recent headline. Full story: https://aseannow.com/topic/1332758-pattaya-residents-unite-to-defend-dignity-against-sin-city-media-reports/?do=findComment&comment=19058333

Pattaya residents sin-sitively slam ‘Sin City’ slur by Petch Petpailin Photo by Tiwakorn Kritmanee and Montira Pengrat via Facebook/ ของดีประเทศไทย Pattaya residents hit out to defend their city’s image after a major Thai news outlet referred to Pattaya as “Sin City” and a “Paradise of Prostitutes” in a recent headline. One of the biggest Thai news agencies, ThaiRath, recently published an article with the alleged offensive headline this week. It sparked criticism from Thai netizens, particularly those living in Pattaya. In response, a group of local business owners and residents rallied on Pattaya Walking Street last night, July 11. Representatives led the protest from various local organisations, including the Pattaya Nightlife Business Association, the Pattaya Business and Tourism Association, and the Pattaya Walking Street Community. They held signs that read “Save Pattaya,” “Stop damaging Pattaya,” and “Unethical media.” Lisa Hamilton, President of the Pattaya Nightlife Business Association, expressed concern about the negative impact of such labels on the workforce. “Labelling Pattaya as the ‘Sin City’ makes workers in this industry feel neglected. We want the media to take responsibility for reports that damage Pattaya.” Amporn Kaewsaeng, President of the Pattaya Entertainment and Tourism Industry, highlighted the importance of Pattaya’s entertainment sector in employing Thai people from across the country. “Many people come to Pattaya for work so they can give money to their families and take care of them. No one should insult workers in Pattaya, including sex workers who make a significant income to the country.” The protestors urged all news agencies to show compassion and avoid targeting Pattaya, emphasising that it is not the only city in Thailand with a vibrant nightlife scene. Official apology Following the backlash, ThaiRath removed the article and issued an apology to Pattaya residents on their website and official Facebook page last night. The news outlet stated that they intended to report the truth and shed light on another perspective about the city. The reporter team also wanted to highlight that Thai sex workers are seeking changes to the Prevention and Suppression of Prostitution Act. The changes or cancellation of the act would allow them to access the proper welfare and rights as same as workers in other industries. ThaiRath promised to report stories that promote Pattaya’s positive image in the future, to boost business and build confidence among tourists and investors. While Pattaya is referred to as the “Sin City” by several Thai and international media platforms, this term has often been used to describe the city’s lively and unique nightlife scene, which attracts visitors from all around the world. In a related story, a German documentary sparked criticism among locals in Pattaya last year. The documentary revealed the story of two German men who were arrested for buying sex services from teenage girls under the age of 15. The two foreigners reportedly bribed Thai police with over a million baht and went on to live normal lives in their home countries. The president of the Thai Hotels Association, Marisa Sukosol, has come forward to express her concern that the documentary could reduce the number of visitors to the city, as a similar documentary did some 20 years ago. Source: The Thaiger 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Pickup crashes through Merit-Making Event: 1 Dead, 4 Injured Picture courtesy: Khaoded In a harrowing accident late last night in Nakhon Phanom province, a high-speed pickup truck crashed into a merit-making event, resulting in one fatality and four serious injuries. The local community has been left in shock, mourning the tragic disruption of a traditional gathering meant to honor the deceased. Full story: https://aseannow.com/topic/1332774-pickup-crashes-through-merit-making-event-1-dead-4-injured/

In a harrowing accident late last night in Nakhon Phanom province, a high-speed pickup truck crashed into a merit-making event, resulting in one fatality and four serious injuries. The local community has been left in shock, mourning the tragic disruption of a traditional gathering meant to honor the deceased. The calamity occurred around 11:40 PM when an Isuzu pickup, speeding dangerously, veered off the road in the village of Kam That during the religious event. Eyewitness accounts and police reports indicate the driver lost control before plowing into a crowd of participants, who were distributing food as part of the ceremonial proceedings. The immediate aftermath was intense and chaotic. Emergency response teams from nearby districts rapidly converged on the site, providing critical aid. The ill-fated victim, identified as 56-year-old Sithon Phalee, was found deceased at the scene alongside three damaged motorcycles, a testament to the severity of the crash. In addition to the tragic death, four individuals – two villagers and two members of the local security team – suffered serious injuries and were transported to Nakhon Phanom Hospital for urgent care. The driver, severely injured and trapped within the wreckage of his vehicle, was also extracted and hospitalized, raising questions about the circumstances leading up to the crash. Local authorities spearheaded by Police Lieutenant Satchanan Bangsai have launched a comprehensive investigation to decipher the cause of the accident, particularly probing into the possibility of impaired driving and mechanical failure. This devastating event has prompted discussions about enhancing safety measures at local events to prevent such heartrending incidents in the future. The community’s response was a mixture of sorrow and fury, with some attendees having to be restrained from confronting the driver amidst their grief and shock. This tragic disruption of a peaceful cultural event highlights the need for stringent safety protocols and responsible driving to safeguard communal gatherings. The investigation remains ongoing, with further updates anticipated as officials delve deeper into this catastrophic occurrence. Picture courtesy: Khaoded -- 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Heavy rainfall to impact 41 provinces across Thailand today by Ryan Turner Image courtesy of KhaoSod Heavy rainfall is set to impact 41 provinces across Thailand today, July 12, with the Meteorological Department of Thailand (TMD) predicting significant precipitation in regions including the northeast, central, and eastern parts of the country. The Bangkok metropolitan area is expected to see rain over 60% of its expanse. Full story: https://aseannow.com/topic/1332772-heavy-rainfall-to-impact-41-provinces-across-thailand-today/

Heavy rainfall is set to impact 41 provinces across Thailand today, July 12, with the Meteorological Department of Thailand (TMD) predicting significant precipitation in regions including the northeast, central, and eastern parts of the country. The Bangkok metropolitan area is expected to see rain over 60% of its expanse. Over the next 24 hours, a southwest monsoon will cover the Andaman Sea, Thailand, and the Gulf of Thailand, while a low-pressure system will hover over northern Vietnam. This combination will lead to thunderstorms and heavy rain in various parts of Thailand. The northern region will experience thunderstorms affecting 40% of the area, particularly in Chiang Mai, Chiang Rai, Phayao, Nan, Phrae, Phitsanulok, and Phetchabun. Temperatures will range from 23 to 26 degrees Celsius (°C) at the lowest to 33 to 36°C at the highest. In the northeastern region, thunderstorms are expected over 60% of the area, with some heavy rainfall in Nong Khai, Bueng Kan, Udon Thani, Sakon Nakhon, Nakhon Phanom, Mukdahan, Yasothon, Amnat Charoen, Sisaket, and Ubon Ratchathani. The temperature will be between 24 to 25°C at the lowest and 33 to 36°C at the highest. The central region will see thunderstorms in 60% of the area, with heavy rain in Lopburi, Saraburi, Ayutthaya, Nakhon Pathom, and Samut Sakhon. The lowest temperature will be around 24 to 25°C, with the highest reaching 34 to 36°C. In the eastern region, thunderstorms will cover 70% of the area, with heavy rain expected in Nakhon Nayok, Prachinburi, Chachoengsao, Chon Buri, Rayong, Chanthaburi, and Trat. The lowest temperature will be 23 to 25°C, with the highest between 30 to 34°C. Sea waves will be 1 to 2 metres high, and areas with thunderstorms may see waves exceeding 2 metres. High seas The southern region (eastern coast) will have 40% of its area affected by thunderstorms, primarily in Chumphon, Surat Thani, Nakhon Si Thammarat, Phatthalung, and Songkhla. Temperatures will range from 23 to 26°C at the lowest to 33 to 35°C at the highest. Seas from Surat Thani upwards will experience waves of 1 to 2 metres, with areas of thunderstorms seeing waves over 2 metres. From Nakhon Si Thammarat downwards, sea waves will be around 1 metre, with areas of thunderstorms seeing waves exceeding 1 metre. The southern region (western coast) will have 60% of the area experiencing thunderstorms, with heavy rain in Ranong, Phang Nga, and Phuket. The lowest temperature will be 24 to 26°C, with the highest between 30 to 34°C. Seas from Phuket upwards will have waves of 1 to 2 metres, with stormy areas seeing waves over 2 metres. From Krabi downwards, sea waves will be around 1 metre, with stormy areas seeing waves exceeding 1 metre. Bangkok and its vicinity will face thunderstorms affecting 60% of the area, with some heavy rainfall. The lowest temperature will be 25 to 26°C, and the highest will range between 33 to 35°C. The TMD advises residents to stay updated with the latest weather forecasts and be prepared for the potential impacts of heavy rainfall. by Ryan Turner Image courtesy of KhaoSod Source: The Thaiger 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Nation Group: Salary cuts apply to management team only by Puntid Tantivangphaisal Photo courtesy of The Nation Nation Group has clarified that its recent salary suspension affects a mere 10% of its staff, primarily targeting the management team. Full story: https://aseannow.com/topic/1332771-nation-group-salary-cuts-apply-to-management-team-only/

Nation Group has clarified that its recent salary suspension affects a mere 10% of its staff, primarily targeting the management team. This revelation comes amid swirling rumours and public outcry, which the company attributes to distorted messages presenting partial truths, causing widespread public misunderstanding and online criticism, damaging the organisation’s reputation. Dismissing any notions of being in crisis, Nation Group emphasised its proactive measures to brace for future challenges. The media giant, renowned for serving the public, highlighted the global impact of the economic slowdown and technological upheavals, particularly digital disruption, on the media industry. Nation Group asserted that its cost-reduction strategy, including the partial salary suspension, is designed to ensure business stability. This measure, affecting only management, underscores the company’s commitment to responsibility towards the organisation and its employees. It impacts just 10% of the payroll, leaving the remaining 800 employees untouched. Shine Bunnag, Executive Chairman and CEO of Nation Group, stated that Nation Group has been a steadfast media organisation in Thai society for over 54 years. “We have faced numerous economic crises and changes in the media landscape, communication technologies, and economic downturns. This is not the first storm and it won’t be the last. We see the current challenges as part of life’s journey and are not alone in being affected.” Highlighting the company’s resilience, Shine recalled the 10% salary suspension during the Covid-19 pandemic, which was later fully reimbursed once stability returned. He dismissed the sensationalist news from competitors aiming to undermine Nation Group’s credibility, assuring that the current measures are part of a robust strategy for future growth. Nation Group continues to invest in diverse business models, including film, showbiz, and online image and information trading, while integrating Generative AI technology to enhance editorial capabilities, reported The Nation. “We sincerely thank all supporters. Nation Group affirms that the organisation remains stable with strong revenue, and we will continue to produce news and create beneficial content for Thai society.” ORIGINAL STORY: Nation Group announces partial salary suspension Nation Group announced a partial salary suspension for some employees due to a significant decline in advertising revenue across the media industry, driven by current economic conditions. Chairperson Chai Bunnag also opted to forego his salary. Nation Group released an announcement, numbered 015/2567, detailing the decision to partially suspend salaries. This measure comes in response to a sharp decrease in advertising revenue throughout the media sector, attributed to ongoing economic challenges. The company has cited the need to reduce expenses across various areas to ensure sustainable business operations. The salary suspension will apply to employees earning 50,000 baht or more per month, effective July 1 to December 31. The reduction will be implemented on a sliding scale, with salaries being suspended by 10% to 30%, depending on the employee’s salary bracket. Chai Bunnag, the Chairperson and Chief Executive Officer, voluntarily decided not to receive his salary or any compensation from the company during this period. This gesture aims to allocate resources to employees who are in greater need. “The company understands that the partial salary suspension may affect all employees. We assure you that this decision has been made with great care and necessity, to help the company navigate these challenging times.” Nation Group plans to begin reimbursing the suspended salaries starting from January 2025. The repayment is expected to be completed within the first half of the year. Should there be any improvements in the situation, the company will notify employees accordingly. The announcement was signed by Chai Bunnag, confirming the authenticity of the decision. Further discussions regarding the exact percentage reductions will occur today, with an internal announcement to follow, reported KhaoSod. by Puntid Tantivangphaisal Photo courtesy of The Nation Source: The Thaiger 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Syn Mun Kong Insurance's License Withdrawn, Liquidator Assigned File photo In a move reflecting deepening troubles in Thailand's insurance sector, the Finance Ministry announced on July 4 that Syn Mun Kong Insurance Public Company Limited, a major non-life insurance provider, has been stripped of its operating license. Full story: https://aseannow.com/topic/1332769-syn-mun-kong-insurances-license-withdrawn-liquidator-assigned/