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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. Citing severe financial instability, Finance Minister Pichai Chunhavajira appointed the Non-Life Insurance Fund as the liquidator tasked with divesting the company's assets to reimburse policyholders. This drastic step comes as Syn Mun Kong grapples with the aftermath of aggressive COVID-19 policy payouts, which have tipped the firm into insolvency. It’s the fifth insurance firm to fold under similar pressures during the pandemic era, a worrying trend that begs questions about the sustainability of pandemic-related insurance products. Compensation for policyholders won't be straightforward or swift, warns Chanaphont Mahawong, Manager of the Non-Life Insurance Fund. As the new liquidator, the Fund has opened a 60-day window for claims registration through their website, but they've already amassed significant liabilities—over 50 billion baht owed to around 600,000 former policyholders from previously collapsed insurers. With Syn Mun Kong added to the mix, these figures will soar, pushing potential debt to nearly 90 billion baht affecting close to a million people. Chanaphont hinted at a bleak prognosis: with only one billion baht available annually for debt servicing, it could take up to 80 years to clear the pending claims. This staggering timeline places a burden on affected policyholders, who now face a lengthy wait amidst financial uncertainty. As the saga unfolds, all eyes will be on how the sector adapts to ensure such financial implosions are avoided in the future, ensuring that policyholders can rely on their coverage without fear. TOP: File photo -- 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Wan to quit Pheu Thai Party next week Wan Yubamrung, vice minister attached to the public health minister, tendered his resignation today and will leave the Pheu Thai Party next week. Full story: https://aseannow.com/topic/1332768-wan-to-quit-pheu-thai-party-next-week/

Wan Yubamrung, vice minister attached to the public health minister, tendered his resignation today and will leave the Pheu Thai Party next week. Son of veteran and outspoken Pheu Thai Party member Chalerm Yubamrung said in his Facebook Live post yesterday that he had never thought about leaving the Pheu Thai Party, “as long as the party cares about me and gives me opportunities. But, if one day, the Pheu Thai Party loves me no more and does not give me opportunities, I will have to leave,” said Wan, adding that he had not thought that the day would arrive so soon. Nevertheless, he admitted that he is shocked by having the leave the party, adding that he was also a member of the now defunct Palang Prachachon party, a predecessor of Pheu Thai. The former MP said that there were a lot of things he would like to talk about, but he chose to keep them to himself and would bare them all “if and when I was subjected to some actions”. Full story: Thai PBS 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Thailand's Cash Handouts: A Future Financial Pitfall? File photo With Thailand granting significant cash handouts in a bid to alleviate poverty, economists are sounding alarms over the potential long-term economic repercussions. Full story: https://aseannow.com/topic/1332767-thailands-cash-handouts-a-future-financial-pitfall /

With Thailand granting significant cash handouts in a bid to alleviate poverty, economists are sounding alarms over the potential long-term economic repercussions. Despite the apparent immediate benefits, there's apprehension that these populist measures could undermine sustainable growth and push the country into a cycle of dependency that hampers its aspirations to transition into a high-income nation. Thailand's economy currently classifies as "developing," a label it has held unrevised by the World Bank since 1988, with a GDP per capita significantly lower than that of high-income countries. The thrust of the concern hinges on the sustainability of these cash handouts, which may provide temporary relief but fail to address deeper economic fragilities or build essential capabilities among recipients. The government’s strategy includes tax cuts and financial assistance, which have been popular but controversial. Experts like Athiphat Muthitacharoen, from Chulalongkorn University, highlight that this spending contributes to a persistent budget deficit without fostering economic resilience or skill development essential for self-reliance. According to 2023 data, the government’s recurring expenses on welfare, salaries, and debt repayments consume a substantial part of the budget, leaving little for development initiatives. Critics such as Kobsak Pootrakool of the Federation of Thai Capital Market Organisation question the efficiency of these handouts. Despite government claims of decreased poverty levels, he argues that the real poverty figures have only shifted surface numbers, with many "out of poverty" households still heavily dependent on government aid. The focal point of concern is whether these handouts are merely a quick fix that obscures the more chronic issues such less diversified economy or inadequate investment in human capital. The potential long-term risks include growing fiscal pressures and escalating public debt, with critics cautioning that without a pivot towards more sustainable growth measures, Thailand's economic future may be at risk. TOP: File photo -- 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Authorities seized more than 3 million speed pills abandoned by fleeing smugglers after an exchange of gunfire along a road near a forested area of Chaing Rai. Border patrol and police officers attempted to stop 3 pickup trucks yesterday morning but were shot at, gunfire continued for some ten minutes before several armed men fled the trucks on foot. A search of the trucks produced 16 sacks filled with around 3.2 million speed pills. Several people received burns following an explosion at a gas refuelling station yesterday at Suphan Buri. A witness said a leaking valve on a 5 tonne gas tanker ignited, Causing the truck to explode, seriously injuring the driver. New logistics route between Ranong port in Thailand and Yangon in Myanmar has been launched to avoid areas of armed conflicts along the roads normally used. An Indian cargo ship was the first to use the route; It left Yangon bound for a return trip to Ranong. Authorities in Phuket are painting over the rainbow crosswalks created for Pride Month in June because their extra width and slippery paint led to a series of motorcycle accidents. They will be replaced by non slippery conventional red-and-white zebra crossings. Around the region. Philippine authorities have identified eight suspects in the kidnap-killings of a Chinese national and Chinese-American that prompted diplomatic intervention by Beijing to call for Manila to swiftly find and punish the perpetrators. Local news report that five of the suspects are foreigners while the remaining three are Filipino nationals. Todays’ WEATHER Chiang Mai and the north: Thunderstorms 34C degrees celsius Bangkok:cloudy thunderstorms 32 Pattaya: Cloudy, thunderstorms 31 Phuket and the south: Thunder showers 30 Hua Hin: Cloudy, with isolated thundershowers from lunchtime and during the afternoon 31 Much the same over the weekend . AQI: green which is good Green clear, yellow moderate, Orange High, Red unhealthy. Credits: Bangkok Post, The Nation, Asean Now, Khaosod English, Hua Hin Today, Channel News Asia, South China Morning Post, The Straits Times. The Irrawaddy. Wunderground.com The Pattaya News, Phuket News, Windy.com. -- SURF 102.5 FM 2024-07-12 Listen Live: Surf 102.5 Facebook: Surf 102.5 Get our Daily Newsletter - Click HERE to subscribe

Pattaya Residents Unite to Defend Dignity Against "Sin -City " Media Reports Picture courtesy: Daily News In the wake of sensational media reports labeling Pattaya as a "Sinful City, Paradise for Prostitutes," local business leaders and community representatives have come together to defend the city's image and appeal for a balanced portrayal. Full story: https://aseannow.com/topic/1332758-pattaya-residents-unite-to-defend-dignity-against-sin-city-media-reports/

Picture courtesy: Daily News In the wake of sensational media reports labeling Pattaya as a "Sinful City, Paradise for Prostitutes," local business leaders and community representatives have come together to defend the city's image and appeal for a balanced portrayal. The negative depiction has sparked significant backlash from the local community, concerned about the impact on Pattaya's tourism and reputation. On July 11, at the bustling entrance of Pattaya's renowned Walking Street, a gathering organized by key figures in the local tourism sector voiced their concerns. Among them were Lisa Hamilton, President of the Pattaya Nightlife Business Association, and Boon-anan Pattanasin, President of the Pattaya Business and Tourism Association, both advocating for a more positive media narrative. Picture courtesy: Daily News Lisa Hamilton emphasized that Pattaya is more than its nightlife, offering a diverse array of attractions to cater to global tourists. The label of a 'sinful city' has overshadowed the contributions of other sectors within Pattaya's economy, affecting local morale and dignity. She called for responsibility in journalism and a shift towards stories that highlight Pattaya's varied tourism offerings. Meanwhile, Boon-anan Pattanasin underscored the importance of recognizing Pattaya as a city of opportunities. By focusing on legal, orderly, and socially responsible tourism practices, Pattaya can demonstrate its capacity as a thriving economic hub, beneficial to Thailand's broader economic landscape. Picture courtesy: Daily News Amporn Kaewsaeng, President of the Pattaya Entertainment and Tourism Industry Association, also weighed in, expressing her displeasure over the negative image portrayed. She defended the nightlife sector as a significant economic contributor, providing livelihoods for many who support their families through tourism-related activities. These leaders, along with others from the local business community, are calling for media support to reshape the narrative around Pattaya, promoting it as a city rich in opportunities and experiences beyond the nightlife for which it is internationally known. Picture courtesy: Daily News Picture courtesy: Daily News -- 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Pakistani man arrested in Krabi for selling goods without work permit Picture courtesy: Siam Rath In a recent operation, a Pakistani man was detained by Krabi Immigration officials for selling goods without a valid work permit. The arrest occurred on Nong Thale Road in Mueang District, where the individual was reportedly offering items like jewelry and perfumes to tourists. Full story: https://aseannow.com/topic/1332755-pakistani-man-arrested-in-krabi-for-selling-goods-without-work-permit/

Picture courtesy: Siam Rath In a recent operation, a Pakistani man was detained by Krabi Immigration officials for selling goods without a valid work permit. The arrest occurred on Nong Thale Road in Mueang District, where the individual was reportedly offering items like jewelry and perfumes to tourists. Authorities identified the man as Mr. Muhammad, 49, who entered Thailand on a tourist visa, utilizing a local mosque for accommodation while engaging in daily unauthorized sales activities. Picture courtesy: Siam Rath His apprehension was part of a broader crackdown carried out by Krabi Immigration and local police forces aimed at enforcing regulations around foreign employment and maintaining public safety and order. This initiative is particularly stringent in tourist-heavy locales like Krabi, where officials are vigilant against activities that could undermine local employment or pose risks to public safety. Picture courtesy: Siam Rath This incident underscores the ongoing efforts by Thai immigration authorities to manage foreign nationals' activities within the country rigorously. Tourists and expatriates are reminded to adhere strictly to the conditions of their visas and permits to avoid legal repercussions. Meanwhile, the local community and visitors are encouraged to report any suspicious activities, ensuring Krabi remains a safe destination for both tourists and residents. Please report it to Krabi Immigration at 075 611097. TOP Picture courtesy: Siam Rath -- 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Hostage Crisis Ends in Fatal Shootout in Chiang Rai Picture courtesy: Khaosod In a dramatic turn of events in Chiang Rai, a hostage rescue attempt concluded tragically with a fatal shootout, claiming the life of an identified suspect linked to drugs and crime. Full story: https://aseannow.com/topic/1332753-hostage-crisis-ends-in-fatal-shootout-in-chiang-rai/

In a dramatic turn of events in Chiang Rai, a hostage rescue attempt concluded tragically with a fatal shootout, claiming the life of an identified suspect linked to drugs and crime. The operation, spearheaded by seasoned officers, unfolded on the evening of July 10 following a distress call about a kidnapping incident. The beginning of this harrowing incident was marked by the abduction of a woman named Pa (alias) from her residence in Rong Wiang Subdistrict. The kidnapper, identified as Pa's estranged husband Phong (alias), executed the abduction at gunpoint, discharging his weapon before fleeing the scene with the victim. The police swiftly traced Phong to a remote location in Mae Lao District, Chiang Rai, where he sought refuge in a hut owned by Thak (alias), a criminal with a record of drug trafficking. As law enforcement encircled the hut, they were met with gunfire, instigating a shootout during which Thak was fatally wounded. Despite the chaos, police successfully apprehended Phong and rescued Pa unharmed. Thak succumbed to his injuries after attempts at resuscitation failed. Experts in the region are noting the significance of the response by the police, highlighting the effectiveness of the recently established armed units in each Chiang Rai police station. These units, part of a broader police policy reshaping, have specifically trained to manage severe criminal incidents ensuring rigorous coordination and quick response times, which were crucial in this high-stress situation. While the community reels from the violence, relief is palpable as the quick actions of the police prevented further harm to innocent lives. The operation also shone a light on the underlying issues of domestic violence and the illegal arms circulation in the region, sparking discussions on addressing these systemic problems more robustly. As investigations continue, the focus remains on reinforcing safety measures and public trust in law enforcement’s capacity to protect and serve, evident from the outcome of this critical intervention. Picture courtesy: Khaosod -- 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

200 Senators Report For Duty Amid Election Controversy Picture courtesy: Manager Online In a key move within Thai politics, 200 new senators have reported for duty, following the close of a contentious election marred by allegations of irregularities. Full story: https://aseannow.com/topic/1332751-200-senators-report-for-duty-amid-election-controversy/

In a key move within Thai politics, 200 new senators have reported for duty, following the close of a contentious election marred by allegations of irregularities. These appointments take place as the Thai Election Commission (EC) aggressively pursails investigations into accusations of election fraud and collusion that have tainted the voting process concluded on June 26. The reporting of these senators, expected to receive their official certificates by the end of the week, marks a significant transition as they replace the previous cohort appointed by a military-aligned administration in 2019. The shuffle is part of a broader electoral overhaul following Thailand’s latest three-stage senatorial elections. Meanwhile, the EC, collaborating with the Royal Thai Police, the Department of Special Investigation (DSI), and the Anti-Money Laundering Office, is probing deep into a myriad of complaints related to the conduct of these elections. Specific attention is being paid to potential collusion aimed at influencing the electoral results. During an intense meeting, EC officials declared that the election process adhered to the legal requisites, hence moving forward with the certification of results and validation of newly appointed senators. A notable event in the certification process was the disqualification of Senator-elect Kohdeeyoh Songngam due to ineligible political association, leading to Major Korapot Runghirunwat stepping into the vacated senate seat. Controversially, the Commission defended its execution of the election process against rising critique. EC Secretary-General Sawaeng Boonmee outlined the classification of grievances ranging from manipulation to breaches during the vote and issues with candidate qualifications. Out of 1,917 candidates scrutinised, over 600 were turned away for failing to meet eligibility criteria. This unfolding scenario highlights the EC’s stringent efforts to uphold electoral integrity amid swirling accusations. With the ultimate endorsement of the election results, the newly appointed Senate is now poised to embark on its legislative duties, even as the haze of contention lingers over its inception. Picture courtesy: Manager Online -- 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Bangkok launches major drug prevention initiative with urine tests by Ryan Turner Image courtesy of KhaoSod Bangkok is set to launch a significant drug prevention and control initiative today, July 12, with the capitol’s governor, Chadchart Sittipunt, directing district offices to coordinate with local police stations for urine testing in 88 communities identified as high-risk for drug abuse, aiming to bring users into treatment programs. Full story: https://aseannow.com/topic/1332749-bangkok-launches-major-drug-prevention-initiative-with-urine-tests/

Bangkok is set to launch a significant drug prevention and control initiative today, July 12, with the capitol’s governor, Chadchart Sittipunt, directing district offices to coordinate with local police stations for urine testing in 88 communities identified as high-risk for drug abuse, aiming to bring users into treatment programs. During an online Zoom meeting at the Bangkok City Hall, Chadchart chaired the Committee of the Bangkok Narcotics Control and Suppression Centre (BNCSSC). The meeting included key officials such as the Deputy Permanent Secretary of Bangkok, Chatri Watthanakhachon, representatives from the Bangkok Metropolitan Police Bureau, the Bangkok Metropolitan Administration’s Health Department, district offices, and other related parties. The 58 year old Bangkok chief emphasised the urgency for relevant agencies to conduct urine testing in community areas. This directive aligns with the prime minister’s orders during the mobile Cabinet meeting in Nakhon Ratchasima. The initiative will see district offices collaborate with local police stations, the Bangkok Office of the Narcotics Control Board (ONCB), and public health service centres to perform urine tests and identify drug users for entry into treatment programs. The operation will commence from this Friday onwards. The project will involve urine testing for individuals aged 12 to 65 years living in communities participating in the Sustainable Strong Community project, covering 88 communities. Furthermore, urine testing will also be conducted in the Community Based Treatment (CBTx) project, which includes 285 communities in total. Individuals deemed at risk of drug use, those previously uncooperative in treatment, those who have relapsed after psychiatric treatment for drug abuse, or those under probation or recently released from prison or juvenile detention, will be targeted for testing. The initiative also includes providing social rehabilitation through the CBTx process or referrals to medical facilities. The agencies involved are required to report the number of individuals tested and the number of patients admitted to treatment by July 31 on the Office of Drug Abuse Prevention and Treatment’s website. Additionally, urine testing will be conducted for at-risk students in 73 schools within monitored community areas, with schools also required to report their findings on the same website. by Ryan Turner Image courtesy of KhaoSod Source: The Thaiger 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Hua Hin News July: What’s happening? Events, roads and buses, the future, Lizzy Ginsel Hua Hin News with Andrew Sloan and Richard Buckle. Hua Hin Events, new transport links, road repairs, charity events, tourism growing in Hua Hin as the monsoon hits. Full story: https://aseannow.com/topic/1332747-hua-hin-news-july-what’s-happening-events-roads-and-buses-the-future-lizzy-ginsel/

Hua Hin News with Andrew Sloan and Richard Buckle. Hua Hin Events, new transport links, road repairs, charity events, tourism growing in Hua Hin as the monsoon hits. Do you think Hua Hin will become the next Pattaya? Please COMMENT, SUBSCRIBE, LIKE AND SHARE to support our channel. Our thanks to Richard Buckle of https://surf.radio for the Hua Hin Update.

Bangkok Drunk Driving Victims Network Opposes Repeal of Train Alcohol Ban By Kittisak Phalaharn National — On July 11th, 2024, Mr. Jessada Yamsabai, the President of the Bangkok Drunk Driving Victims Network, along with over 50 members of other networks, submitted a petition to acting Governor of the State Railway of Thailand, Jarae Rungthanee, opposing the repeal of the ban on alcohol sales and consumption on trains and at train stations. Full story: https://aseannow.com/topic/1332746-bangkok-drunk-driving-victims-network-opposes-repeal-of-train-alcohol-ban/

National — On July 11th, 2024, Mr. Jessada Yamsabai, the President of the Bangkok Drunk Driving Victims Network, along with over 50 members of other networks, submitted a petition to acting Governor of the State Railway of Thailand, Jarae Rungthanee, opposing the repeal of the ban on alcohol sales and consumption on trains and at train stations. Jessada referenced a tragic 2014 incident where a young girl was sexually assaulted and murdered by an intoxicated railway officer, an event that led to the establishment of the alcohol ban to enhance passenger safety. This ban was publicly announced on February 5th, 2015, under former Thai Prime Minister Prayut Chan-o-cha, aimed at reducing accidents and ensuring passenger safety on trains. The network has consistently advocated for the reduction of alcohol consumption and monitored the enforcement of related laws to mitigate its societal impact. They strongly oppose the State Railway of Thailand’s proposal to the National Alcoholic Beverage Policy Committee to reconsider the ban on alcohol sales and consumption on trains and at train stations, purportedly to promote domestic tourism, Jesada said. By Kittisak Phalaharn Full story: THE PATTAYA NEWS 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Digital Wallet Project Could Worsen from Crisis to Catastrophe Pita Limjaroenrat. File photo courtesy: Wikipedia In a stern warning delivered on the House floor, Move Forward MP Pita Limjaroenrat expressed concerns over the potential impact of the digital wallet initiative, spearheaded by the Pheu Thai party. Full story: https://aseannow.com/topic/1332745-digital-wallet-project-could-worsen-from-crisis-to-catastrophe/

In a stern warning delivered on the House floor, Move Forward MP Pita Limjaroenrat expressed concerns over the potential impact of the digital wallet initiative, spearheaded by the Pheu Thai party. The project, aimed at distributing 10,000 baht to eligible Thai citizens through digital wallets, has been seen as a strategy to alleviate the ongoing economic strains. However, according to Limjaroenrat, if mismanaged, this could morph the current financial crisis into a full-blown catastrophe. The original plan to fund this populist measure involved a loan of 172.3 billion baht from the Bank for Agriculture & Agricultural Cooperatives. The latest adjustments see this amount being sourced from the Central Fund, under direct control of Thailand's Prime Minister Srettha Thavisin, reducing the earmarked funds from 500 to 450 billion baht. This shift represents a significant departure from earlier financial strategies, raising concerns about the government's fiscal discipline. Deputy Finance Minister Julapun Amornvivat outlined that the revised funding would spread across the current and the next fiscal year, with 165 billion baht allocated initially and the remainder to follow. Despite the funding cuts, the government anticipates wide participation, estimating that between 80% and 90% of over 50 million eligible Thais will engage with the initiative. Limjaroenrat criticized the utilization of the Central Fund, traditionally reserved for emergencies such as natural disasters or major national crises, for the digital wallet project. He suggested that this could set a precarious precedent, potentially leading to significant economic losses. In response, Prime Minister Srettha Thavisin assured transparency and adherence to legal frameworks in the execution of this campaign, promising that the project would roll out by the fourth quarter of this year. The Prime Minister is expected to further detail the initiative on July 24, clarifying the project's scope and objectives. Pita Limjaroenrat. File photo courtesy: Wikipedia -- 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

Finance Ministry Pushes 99-Year Leases for Foreigners Deputy Prime Minister and Finance minister Pichai Chunhavajira confirms the government is moving forward with a project to allow foreigners to lease condominiums for 99 years, aiming to stimulate the real estate sector, which has over 200,000 unsold units. Full story: https://aseannow.com/topic/1332744-finance-ministry-pushes-99-year-leases-for-foreigners/

Deputy Prime Minister and Finance minister Pichai Chunhavajira confirms the government is moving forward with a project to allow foreigners to lease condominiums for 99 years, aiming to stimulate the real estate sector, which has over 200,000 unsold units. Pichai on Wedensday gave a keynote speech and special discussion on the topic “Developing Sustainable Real Estate.” He acknowledged that the real estate business is currently facing issues with over 200,000 unsold condominium units. People are unable to purchase due to increasing household debt, a matter the Ministry of Finance and the government must urgently address to prevent further impact on Thailand’s overall economy. However, the Ministry of Finance sees that allowing foreigners to lease condominiums for 99 years is a suitable policy to reduce the backlog of unsold units. Yet, there must be clear zoning criteria determining where foreigners can lease, with each unit valued at more than 30-40 million baht. Full story: TNA-MCOT 2024-07-12 Get our Daily Newsletter - Click HERE to subscribe

British-Thai couple ‘paws’ to save puppy from restaurant abuse by Petch Petpailin Photo via ThaiRath A Thai woman and her British husband rescued a puppy after a mentally ill Thai man abused the animal outside his restaurant in the Isaan province of Udon Thani. Full story: https://aseannow.com/topic/1332743-british-thai-couple-‘paws’-to-save-puppy-from-restaurant-abuse/