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A Thai woman broke her silence after being missing for 13 days, informing a news agency that she felt compelled to disappear with her daughter to escape from her abusive husband. The businessman from the Isaan province of Nakhon Ratchasima, 42 year old Pongphumphat Chuedee, shared pictures of his wife and daughter on the Facebook account, PickNick Pimpisa. He reported that his 36 year old wife Suphannee Chuedee and five year old daughter Pimpisa Chuedee went missing on the morning of February 16. Pongphumphat stated that he was willing to give 30,000 baht as a reward to anyone with information about his family members. He added that his wife did not have much cash with her and had left her mobile phone at home. Pongphumphat revealed that he filed a missing complaint at Mueang Nakhon Ratchasima Police Station on February 27 and attached the complaint document to his post. According to the shared complaint document, Pongphumphat’s younger sister, Itsariyakorn Ruengdate, drove Suphannee and his daughter to Marie Vithaya School, where Pimpisa was studying. They got stuck in a traffic jam near the school, prompting Suphannee to ask Itsariyakorn to wait on the roadside while she walked her daughter to school. Suphannee assured Itsariyakorn that she would return to the car but she never did. Pimpisa was also absent from school since that day. Husband suspected Suphannee’s status as a former Member of Parliament (MP) candidate for the Democrat Party ensured that her disappearance gained significant public attention, with many speculating about her husband’s involvement in her vanishing. While Pongphumphat vehemently professed his innocence, he did acknowledge engaging in frequent arguments with Suphannee, especially regarding their restaurant business, in the period leading up to her disappearance. Pongphumphat explained that he filed the complaint on February 27 because he had just left monkhood that day. Additionally, he mentioned that Suphannee would often leave after conflicts and return within a week. This time, he decided to wait, but she did not come back as usual. Pongphumphat’s social media post went viral, causing concern among the public, police, and Suphannee’s colleagues. To address the complications, Suphannee decided to give an interview to the news agency Channel 8. Suphannee informed the media that she and her daughter were safe. She explained that she had to go into hiding with her daughter to escape from Pongphumphat, who exhibited abusive behaviour and frequently assaulted her. Suphannee expressed her intention to discuss divorce with her husband but voiced concerns that he might harm her again during the meeting. Many netizens encouraged Suphanee and praised her for her decision saying she was smart to escape from Phongphumphat before the physical assault could escalate. Some mentioned that this case reminded them of a recent incident where a husband physically beat his wife to death, set fire to her body, and pretended that she had gone missing. by Petch Petpailin Photo via Facebook/ PickNick Pimpisa and MGR Online Source: The Thaiger 2024-02-29 - 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

Bitcoin value triples in a year, hitting over 2 million baht by Alex Morgan PHOTO: Bitcoin via Unsplash Bitcoin’s value soared to over 2 million baht on the Bitkub digital asset exchange, as global prices reached an all-time high of US$59,000 yesterday afternoon. Full story: https://aseannow.com/topic/1321148-bitcoin-value-triples-in-a-year-hitting-over-2-million-baht/

Bitcoin’s value soared to over 2 million baht on the Bitkub digital asset exchange, as global prices reached an all-time high of US$59,000 yesterday afternoon. This surge is due to the institutional acquisition of spot Bitcoin exchange-traded funds (ETFs) and a growing interest in cryptocurrency among retail investors. Udomsak Rakwongwan, co-founder of decentralised derivatives platform FWX, and Mathematics lecturer at Kasetsart University, highlighted the impressive increase in Bitcoin’s value, which has nearly tripled in a year, ahead of the anticipated halving in April, reported Bangkok Post. According to Udomsak, the industry is currently in a pre-halving recovery stage. He noted that the trend has remained consistent throughout Bitcoin’s existence. “Conversations with industry leaders at many global crypto events I attended reveal a consensus on market recovery timelines and behaviours. This has resulted in strategic Bitcoin accumulation and increased marketing expenditures by crypto giants, both of which amplify demand.” Udomsak pointed to the likelihood of an increased money supply and potential economic stimulus in the US, particularly ahead of the next presidential election in November, as factors that could boost Bitcoin’s value further. BlackRock and Fidelity, among the world’s largest mutual fund companies, have accumulated over US$12 billion in Bitcoin ETFs. Udomsak identified this steady inflow as a sign of strong confidence from traditional and institutional investors in Bitcoin’s future. Retail investor interest JPMorgan Chase, a global investment bank, attributed the recent surge in popular cryptocurrencies such as Bitcoin and Ethereum to a revival of retail investor interest. “The revival of the retail impulse in February perhaps reflects the anticipation of three main crypto catalysts over the coming months: the Bitcoin halving event, the next major upgrade of the Ethereum network, and the prospect of approval of spot Ethereum ETFs by the US Securities and Exchange Commission in May.” These strategists highlighted recent reports from Paypal, Block Inc., and Robinhood Markets Inc., which showed a net increase in Bitcoin purchases by their customers in the fourth quarter of 2023. This rise in retail activity coincided with Coinbase, a major US crypto exchange, reporting its highest quarterly Bitcoin trading volume in two years. Bitkub Capital Group Holdings noted that the cryptocurrency market capitalisation has skyrocketed to over US$1.8 trillion. Investors were warned to exercise caution with Bitcoin investments due to the rapid price increase. Udomsak observed that the ideal buying opportunity before the halving has already passed, but the pattern suggests potential growth in the post-halving year. He warned, however, that the impact of each halving lessens as the number of investors increases. by Alex Morgan PHOTO: Bitcoin via Unsplash Source: The Thaiger 2024-02-29 - 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

Graphic warnings for alcohol bottles? New ride-hailing service - Tim Newton Today - Feb 29 Full story: https://aseannow.com/topic/1321147-graphic-warnings-for-alcohol-bottles-new-ride-hailing-service-tim-newton-today-feb-29/

Thailand news - There's already a lot of opposition to the proposal to place graphic warning labels on bottles of alcohol in Thailand, a Chinese tourist, who broke a leg in a parasailing accident in Phuket, has already had 4 million views to her story. The 2024 Songkran in Thailand is going be bigger, and wetter, than ever before, Thailand electricity bills will have the rate frozen for up to a year, a new ride-hailing app has been launched in Bangkok, over 50% of online scam monies have been recovered in recent months, and Maya Bay is recovering despite the new influx of tourists to the famous bay. Tim Newton Today is a daily take on Thai and regional news and issues of interest to expats and foreign tourists.

Department of Highways announces Rama II Road upgrades will be completed in 2025 By Online Reporter Rama II Road. Photo taken August 2023. File photo There is an end in sight to the ongoing construction of the main route between Bangkok and the south of Thailand. Full story: https://aseannow.com/topic/1321146-department-of-highways-announces-rama-ii-road-upgrades-will-be-completed-in-2025/

There is an end in sight to the ongoing construction of the main route between Bangkok and the south of Thailand. The Department of Highways has confirmed that the long-awaited upgrades to Rama II Road, a key artery to Thailand’s southern region, are set to be completed by 2025. The Department of Highways (DOH) and the Expressway Authority of Thailand (EXAT) recently moved to address some of the challenges brought about by the extensive construction work on the road, which is one of the main routes to Cha-am and Hua Hin. The move to expedite the construction of the expressway came amid reports that congestion and delays as a result of the project were among the reasons that were putting tourists off from visiting Hua Hin. By Online Reporter Rama II Road. Photo taken August 2023. File photo Full story: HUA HIN TODAY 2024-02-29 - 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

Thai leader Paetongtarn Shinawatra among 150 selected for new NDC defence course by Mitch Connor Credit Paetongtarn Shinawatra official Instagram @ingshin21 The National Defence College (NDC) announced a fresh intake of 150 students for its new defence curriculum. Full story: https://aseannow.com/topic/1321143-thai-leader-paetongtarn-shinawatra-among-150-selected-for-new-ndc-defence-course/

The National Defence College (NDC) announced a fresh intake of 150 students for its new defence curriculum. Paetongtarn Shinawatra, leader of Thailand’s ruling Pheu Thai Party, is among the selected. Paetongtarn, along with other executives, is set to delve into this new curriculum which aims to broaden their perspectives and build strong networks. Over 500 individuals applied for the prestigious course, with 150 applicants, including Paetongtarn, being shortlisted based on interview scores, according to ACM Poomjai Leksuntarakorn, the NDC chief. The chosen participants range from armed forces colonels, and senior police officials, to civilians from various fields, including politics. The age group of the selected individuals lies between 35 to 45 years old, reported Bangkok Post. Other notable participants include Thananon Niramis, the spouse of Deputy Prime Minister and Interior Minister Anutin Charnvirakul; Kanapoj Jomrit, a close friend of Paetongtarn and current member of Prime Minister Srettha Thavisin’s team; Rudklao Suwankiri, deputy government spokeswoman; and Chaichana Detdacho, a Democrat Party MP. The new curriculum, known as the mini-NDC course, is designed for mid-level military personnel, civil servants, businesspeople, and even internet influencers and actors. A military source disclosed that this course is a crucial part of the military’s soft power push. The mini-NDC programme is anticipated to foster closer connections among participants than the traditional NDC programme designed for executives in their 50s who are nearing retirement. The programme prioritises raising participants’ awareness about national security, enhancing their critical and analytical skills, and developing leadership skills. The military hopes that Paetongtarn will gain a deeper understanding of the country’s defence mission through this programme. However, the NDC has faced criticism in the past, accused of using the courses to promote a patronage culture. Even Prime Minister Srettha has cautioned this year’s participants against using the course for personal networking benefits. The course has stirred up controversy, with some pundits suggesting that it was tailor-made for Paetongtarn, the youngest daughter of party patriarch and former Prime Minister Thaksin Shinawatra. by Mitch Connor Credit Paetongtarn Shinawatra official Instagram @ingshin21 Source: The Thaiger 2024-02-29 - 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

Indonesian tourist’s false Thai honeymoon drama debunked by Nattapong Westwood Picture courtesy of KhaoSod A viral clip of an Indonesian woman‘s outcry on social media, claiming her honeymoon trip to Thailand collapsed because her husband was denied entry for not carrying cash, sparked significant attention. Full story: https://aseannow.com/topic/1321141-indonesian-tourist’s-false-thai-honeymoon-drama-debunked/

Picture courtesy of KhaoSod A viral clip of an Indonesian woman‘s outcry on social media, claiming her honeymoon trip to Thailand collapsed because her husband was denied entry for not carrying cash, sparked significant attention. However, Thai immigration authorities have debunked the story as a fabrication for content creation, further uncovering that the woman is a frequent traveller to Thailand and an online merchant. The incident unfolded when the Indonesian Embassy in Thailand issued a warning to its citizens planning to visit Thailand to carry their passports, trip itineraries, and sufficient funds to avoid being deported by Thai immigration. Following this advisory, a clip posted by an Indonesian tourist, under the TikTok username Herjastipbkk, went viral. In the video, she claimed that during her January honeymoon trip to Thailand, she passed through immigration, but her husband was detained and deported for not having cash on hand. Despite her attempts to withdraw money from an ATM to prove their finances, her husband was still sent back, which led to the cancellation of their trip, and they opted to honeymoon in Japan instead. The video went viral in Indonesia, garnering 24.5K views and 1,476 comments, casting a negative light on Thai tourism and immigration. On February 29, Thai Immigration Police Division 2 chief and spokesman revealed that after investigating the claims made by the Indonesian tourist, it was discovered that the woman, named here as Farida (a pseudonym), had travelled alone to Thailand via Don Mueang Airport on flight FD395 from Jakarta on January 4. CCTV footage showed no evidence of her husband accompanying her, contrary to her allegations. She was granted entry into Thailand and left the country on January 16, after a 13-day stay, not immediately as she had claimed in the clip. The investigation also found that Farida frequently travelled to Thailand and speculated that she concocted the story to generate content for her online business, reported KhaoSod. Immigration procedures A meeting was held yesterday, February 28, attended by the Indonesian Embassy’s representative and Thai tourism officials, where Thai immigration clarified their procedures. They emphasised that the focus during immigration checks is primarily on travel plans and accommodation bookings, with cash just being a supplementary element since many travellers now use credit cards and e-payment systems. They noted that foreigners are often denied entry for failing to present valid travel plans or accommodation bookings, sometimes attempting to deceive officials with fake documents. Some Indonesian citizens have been tricked into flying to Thailand with the intent to cross over to neighbouring countries for call centre jobs, a situation that poses a risk of human trafficking. The Indonesian Embassy had previously thanked Thai immigration for screening and preventing such incidents. Thai Immigration welcomed Indonesian tourists and confirmed the government’s visa-free policy. The Tourism Authority of Thailand acknowledged the clarity provided by immigration and planned to inform the Minister of Tourism and Sports about the measures and the discussions that had taken place. by Nattapong Westwood Picture courtesy of KhaoSod Source: The Thaiger 2024-02-29 - 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

Foreign couple condemned for sex antics on Phuket beach (video) by Petch Petpailin Photo via Amarin TV An allegedly outraged Thai voyeur shared a video capturing a foreign couple having sex on Patong Beach in Phuket on social media platforms. Locals condemned their act and demanded authorities to take action on the matter. Full story: https://aseannow.com/topic/1321140-foreign-couple-condemned-for-sex-antics-on-phuket-beach-video/

An allegedly outraged Thai voyeur shared a video capturing a foreign couple having sex on Patong Beach in Phuket on social media platforms. Locals condemned their act and demanded authorities to take action on the matter. The video of the foreign couple was shared on social media by a Thai motorist-cum-voyeur who rode a motorcycle past the scene. The incident reportedly occurred on Patong Beach at midnight on February 24. The nationalities of the foreign couple were not revealed. The 1.30-minute video shows the couple indulging in some steamy sex on the beach, positioning themselves with their backs to the beach road and using stacks of white beach chairs to conceal their front. The foreign man was wearing black shorts while the woman was naked. They appeared unaware of being recorded by the outraged voyeur. The Thai witness was allegedly disgusted by their behaviour but he still managed to watch and record the couple having sex for a full minute and a half. He said the couple did not care about motorists and other beachgoers in the area. The voyeur added that the couple’s amorous actions destroyed the good image of Phuket tourism. Many netizens suggested that the couple could have waited to return to their hotel for such activities. Amarin TV reporters visited the scene on February 26 and found it to be a popular spot among foreign tourists due to its wide beach and numerous trees, providing a false sense of privacy. Locals in Phuket shared with the media that this was not the first time, adding they want the police to patrol each beach in the province to prevent similar occurrences. A Patong beach business operator told Amarin TV that the explicit behaviour of another foreign couple was reported on February 25. Many beachgoers witnessed the foreigners having sex on a sofa inside their room on the second floor of a hotel road along Patong Beach. According to the business operator, the room had a clear window, making their activities visible to passersby but the couple continued their activities and did not close the curtains. He saw the act as unacceptable and reported it to the Patong Police Station. As of now, the police have not provided any updates on whether charges have been filed against either of the foreign couples involved. by Petch Petpailin Photo via Amarin TV Source: The Thaiger 2024-02-29 - 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

OPINION Use Taylor Swift disappointment to fuel Thai soft power by Wanchai Vatanakool In the swirling buzz of Taylor Swift’s “The Eras Tour” skipping Thailand for a six-show run in Singapore, thanks to an exclusive deal that’s got the whole of ASEAN locked out, there’s a bitter pill we’re swallowing here. Full story: https://aseannow.com/topic/1321138-use-taylor-swift-disappointment-to-fuel-thai-soft-power/

In the swirling buzz of Taylor Swift’s “The Eras Tour” skipping Thailand for a six-show run in Singapore, thanks to an exclusive deal that’s got the whole of ASEAN locked out, there’s a bitter pill we’re swallowing here. Prime Minister Srettha Thavisin spilled the beans, revealing how Singapore’s sharp move—backed by a hefty 100 million baht investment per show—means Swift won’t grace Thailand with her presence this time around. It stings, no doubt, especially knowing that had she come here, the scale of sponsors and tourists flocking could’ve been monumental. Yet, here we are, on the outside looking in, as tickets in Singapore fly off the shelves. But let’s not dwell too long on what’s slipped through our fingers. Instead, let’s talk about a wake-up call, a rallying cry for us Thais to channel this disappointment into something monumental. Think about it—why sit back and let international stars’ tour schedules dictate our cultural landscape when we have the talent and creativity to light up the world stage ourselves? OPINION by Wanchai Vatanakool Full story: THAI ENQUIRER 2024-02-29 - 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

Srettha will attend the Asean-Australia summit in Melbourne Prime Minister Srettha Thavisin will attend the special Asea-Australia Summit in Melbourne, Australia, on March 4-6 to commemorate the 50th anniversary of their diplomatic relations, according to an informed diplomatic source. Full story: https://aseannow.com/topic/1321137-srettha-will-attend-the-asean-australia-summit-in-melbourne/

Prime Minister Srettha Thavisin will attend the special Asea-Australia Summit in Melbourne, Australia, on March 4-6 to commemorate the 50th anniversary of their diplomatic relations, according to an informed diplomatic source. He will attend the three-day meeting along with other invited Asean leaders, except the Myanmar leader, Senior General Min Aung Hlaing. Prime Minister Xanana Gusmao from Timor Leste will also join the summit, according to the source. Dili is expected to become the 11th member of Asean soon. The special summit will be hosted by Australian Prime Minister Antony Albanese which will be held at the Melbourne Convention and Exhibition Centre (MCEC). Full story: Thai PBS 2024-02-29 - 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 braces for turbulent weather as storms target 18 provinces by Nattapong Westwood Picture courtesy of naewna Today, Thailand faces a significant meteorological event as the Thai Meteorological Department (TMD) issues a storm warning affecting 18 provinces. Full story: https://aseannow.com/topic/1321136-thailand-braces-for-turbulent-weather-as-storms-target-18-provinces/

Today, Thailand faces a significant meteorological event as the Thai Meteorological Department (TMD) issues a storm warning affecting 18 provinces. The TMD forecasts thunderstorms, with a 10% chance of heavy rainfall across these regions, signalling a turbulent start to March. As the country braces for summer storms from March 1 to March 3, areas particularly affected should prepare for strong gusts and possible hailstorms. The TMD highlighted today, February 29, as the beginning of a 24-hour period of caution due to a low-pressure area caused by heat covering the upper part of Thailand, coupled with southerly and southeasterly winds dominating the weather pattern. These conditions are expected to result in hot weather during the day, with scattered thunderstorms. The public is advised to be vigilant against the dangers posed by these thunderstorms, which may include strong winds and hail. The TMD’s warning extends to the Gulf of Thailand and the Andaman Sea, where southerly and southeasterly winds are also expected to cause thunderstorms in the south. Marine conditions in the lower Gulf of Thailand are forecasted to be moderate, with wave heights reaching 1 to 2 metres. In areas experiencing thunderstorms, waves may exceed 2 metres. Similarly, the upper Gulf and the Andaman Sea are anticipated to have waves around 1 metre, potentially rising higher during thunderstorms. Sailors in these regions are urged to navigate with caution and avoid areas where thunderstorms are likely to occur, reported KhaoSod. The weekend forecast indicates that the summer storms are certain to hit, bringing strong winds and hail. Additionally, between March 1 and March 3, high-pressure areas or cool air masses from China will extend over the northeastern part of Thailand and the South China Sea. These systems, along with easterly and southeasterly winds, will cover the lower northern, lower northeastern, central, and eastern parts of the country. These weather patterns are conducive to the development of summer storms, characterised by thunderstorms, strong winds, and occasional hail across the upper part of Thailand. Dust particles and smoke haze are expected to reach moderate to high levels in the northern, northeastern, and upper central regions due to weak winds and poor air circulation. For the 24-hour period from today at 6am to tomorrow at 6am, the northern region is expected to experience hot weather with scattered thunderstorms affecting 10% of the area, particularly in the provinces of Tak, Uttaradit, Phitsanulok, and Phetchabun. Minimum temperatures are forecasted to range from 18 to 25 degrees Celsius, with maximum temperatures between 37 and 39 degrees Celsius. Southerly winds will blow at speeds of 5 to 15 kilometres per hour. Storm warning Similarly, the northeastern, central, eastern, and southern regions are expected to experience hot weather accompanied by scattered thunderstorms. In the south, both the east and west coasts will see hot weather during the day, with varying chances of rain. Fishermen and mariners should be aware of the potential for high waves, particularly in areas affected by thunderstorms. In Bangkok and the surrounding metropolitan areas, hot weather with occasional cloud cover is expected, with a 10% chance of thunderstorms. Minimum temperatures are projected at 26 to 27 degrees Celsius, while maximum temperatures could reach 35 to 37 degrees Celsius, with southerly winds moving at 10 to 20 kilometres per hour. Residents in the affected areas are urged to stay informed and take necessary precautions to ensure their safety amidst these meteorological disturbances. by Nattapong Westwood Picture courtesy of naewna Source: The Thaiger 2024-02-29 - 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

Thai government considers issuing US$1 billion foreign currency bonds by Alex Morgan Picture courtesy of Bangkok Post The Thai government has recently announced its consideration to issue foreign currency-denominated bonds valued at US$1 billion, approximately 36 billion baht, an announcement which has sparked debates over the worth and risks associated with such an undertaking. Full story: https://aseannow.com/topic/1321135-thai-government-considers-issuing-us1-billion-foreign-currency-bonds/

The Thai government has recently announced its consideration to issue foreign currency-denominated bonds valued at US$1 billion, approximately 36 billion baht, an announcement which has sparked debates over the worth and risks associated with such an undertaking. As part of this move, the Public Debt Management Office (PDMO) under the Finance Ministry is examining the feasibility of offering these bonds in several currencies, including US dollars, yuan, and yen. Should the bonds be released in US dollars, it would be a landmark occasion as the first such issuance by the Thai government in 20 years. Interestingly, the last instance of foreign currency bond issuance took place in 2005, when the government released 48 billion yen (US$ 318,794,400) worth of three-year Samurai bonds to refinance a maturing loan from the Japan Bank for International Cooperation. “The most likely choice is dollar-denominated bonds as it’s a widely used currency and a benchmark,” expressed PDMO director-general Patchara Anuntasilpa. The PDMO has stated that the funds from any international bond sale would likely be used to finance sustainability-linked projects that add value to the economy. Despite the Thai authorities’ preference for raising the billions of dollars required annually to bridge a budget gap and fund local investments due to low interest rates, they have indicated that there is more than enough liquidity available in the Thai market for fund mobilisation. Patchara noted that the Thai bond market has evolved considerably since the 1997 Asian financial crisis and has become a crucial funding source for governmental and corporate sectors, reported Bangkok Post. Nevertheless, the authorities believe that issuing overseas bonds would allow the government to diversify its investor base and exploit fewer credit constraints in more liquid foreign bond markets. According to ministry officials, with significant development needs and reduced access to concessional financing as Thailand transitions from low to middle-income status, international bonds present an attractive financing alternative. Overseas bond However, issuing bonds overseas does not come without its drawbacks. For instance, it exposes Thailand to exchange rate risk, making the repayment of international debt more costly if the baht devalues. The cost of borrowing would also increase based on interest rates. As an example, 10-year US Treasury notes carry an interest rate of 4.6%, whereas domestic bonds of a similar maturity period only carry an interest rate of 2.5%. The government’s foreign currency debt is only 1.4% of the total government debt portfolio, mostly consisting of loans from multilateral agencies. Thailand’s overall bond issuance cost in any currency will exceed local rates as it includes risk premiums, foreign exchange, and additional fees such as the conversion into domestic currency. Meanwhile, the Thai government has been vocal about its plan to issue foreign currency bonds, but nothing has materialised so far. The PDMO had to postpone a planned dollar bond offering in 2022 due to market volatility. The newly appointed Prime Minister Srettha Thavisin has proposed overseas bond sales to fund sustainability projects. Deputy Finance Minister Julapun Amornvivat has stated that the government aims to issue bonds within the next one to two years. Despite the higher borrowing cost of dollar-priced bonds compared to the local market, the cost would be cheaper or equivalent to local costs if the bonds were denominated in yen or yuan. “If the issuance proceeds, the funds raised will be invested in environmental, social and corporate governance projects as they add value to the economy,” Patchara said. However, some market observers have expressed doubts over the worthiness of issuing US$1 billion in foreign currency-denominated bonds. “If Thailand really is in need of foreign currency funds, why only US$1 billion? The authorities could easily mobilise that amount from the domestic market,” said a market observer who requested anonymity. by Alex Morgan Picture courtesy of Bangkok Post Source: The Thaiger 2024-02-29 - 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

Thai police foil luxury car fake plate scam in Bangkok by Nattapong Westwood Picture courtesy of KhaoSod A sophisticated scheme involving the use of counterfeit license plates on luxury vehicles has been thwarted by Thai highway police in a recent crackdown. A 41 year old woman was arrested for affixing a forged red license plate to a brand-new Bentley. Full story: https://aseannow.com/topic/1321134-thai-police-foil-luxury-car-fake-plate-scam-in-bangkok/

A sophisticated scheme involving the use of counterfeit license plates on luxury vehicles has been thwarted by Thai highway police in a recent crackdown. A 41 year old woman was arrested for affixing a forged red license plate to a brand-new Bentley. The incident, which took place along Bangkok’s outer ring road, has raised concerns about the ease with which fake registration plates can be procured and used to evade law enforcement and regulatory oversight. The operation was led by Police Colonel Wanchana Tip-as, commander of the 8th division of the Highway Police, and his team, including Police Lieutenant Colonel Tataporn Lekhawatanapong, of Highway Police Station 2. The suspect, identified only by Meesuk (last name withheld), was caught in the act on Kanchanaphisek Road. The arresting officers were patrolling the area when they spotted the white Bentley with a suspicious-looking temporary red plate, which displayed the number บ8888 Bangkok, reported KhaoSod. On closer inspection, the plate was found to lack the watermark and nine-digit Arabic numeral code of the Department of Land Transport. This discovery led to Mee Suk’s immediate arrest. She admitted to purchasing the fake plate for 10,000 baht (US$ 277) from an acquaintance while awaiting the official white plates. She claimed ignorance of the plate’s legality, stating that she had previously stored a red plate from another purchase. Despite her confession, the authorities proceeded to hand her over to the Lak Si Police Station for legal action. In related news, Highway police apprehended a man driving a new Mercedes Benz with a red license plate after they discovered the plate was counterfeit. The driver, identified only as Wanchai, admitted to ordering the attractive number plate online. The incident occurred today when Police Major General Phakaphon Suchon along with Pol. Lieut. Col. Kla Sombatphibun inspected the area under their jurisdiction. They spotted the suspicious vehicle, a white Mercedes Benz with the red plate number B-9999 Bangkok, along the Ban Phaeo-Phra Prathon route in the Don Yai Hom subdistrict, Nakhon Pathom province. by Nattapong Westwood Picture courtesy of KhaoSod Full story: The Thaiger 2024-02-29 - 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 tourism industry calls for eased travel restrictions to boost numbers by Alex Morgan Picture courtesy of Assawin Pakkawan Faced with intense competition from fellow Southeast Asian countries, Thailand’s tourism industry has called on the government to ease travel restrictions and promote cross-border travel. The appeal comes as Malaysia is seen to be catching up with Thailand’s tourism numbers. Full story: https://aseannow.com/topic/1321133-thailand’s-tourism-industry-calls-for-eased-travel-restrictions-to-boost-numbers/

Faced with intense competition from fellow Southeast Asian countries, Thailand’s tourism industry has called on the government to ease travel restrictions and promote cross-border travel. The appeal comes as Malaysia is seen to be catching up with Thailand’s tourism numbers. Earlier this week, Prime Minister Srettha Thavisin embarked on a tour of three southern provinces to boost both trade and tourism. Songchai Mungprasithichai, who serves as the president of the Songkhla Tourism Promotion Association, noted that the temporary suspension of the TM6 immigration form requirement at the Sadao checkpoint has already resulted in a daily increase of Malaysian arrivals by 10 to 20% since it was implemented in November of last year. Over the Chinese New Year holiday, daily visits by Malaysian tourists to Hat Yai and Songkhla exceeded 10,000, pushing hotel occupancy rates to a robust 80 to 90%. Once the holiday period ended, the daily arrival rate dropped to a more typical 5,000. Songchai proposed a suspension of the TM6 form at all major southern immigration checkpoints, believing it would significantly enhance cross-border travel. He also stressed the need for the government to concentrate on resolving conflicts and fostering peace in the southern provinces. This, he argued, would unlock new tourism opportunities that are currently stifled by an emergency decree, reported Bangkok Post. According to Songchai, the decree undermines the confidence of foreign tourists, particularly those unfamiliar with the southern region, such as tourists from China, the UK, and Europe. This is in contrast to domestic tourists or individuals from Malaysia and Singapore, who are more aware of the situation. Thailand tourism In 2023, Malaysia saw 26 million foreign arrivals, closing in on Thailand’s 28 million. Songchai credited Malaysia’s robust growth to a strong resumption of flights, a reputation for safety, and convenient transport. He also noted how Singaporeans can easily visit Malaysia via border checkpoints and that the country offers visa-free entry to Chinese and Indian tourists, a tactic Thailand also employs. Bo Sun, chief marketing officer of online travel platform Trip.com, suggested that due to a permanent visa-free agreement commencing from March 1, Thailand should continue to see steady arrivals from China. Recently, a live-stream collaboration between Trip.com and the Tourism Authority of Thailand aimed at Chinese viewers yielded over 100 million baht (US$ 2,780,868) in gross merchandise value. This indicates a strong interest in Thailand, particularly for future festivals such as Songkran, said Sun. Last year, Bangkok was the most popular destination in Southeast Asia on the platform, with Phuket and Chiang Mai also ranking in the top 10. Bookings for Thailand also surged 110% during the Chinese New Year. Despite the visa-free programme potentially leading to an increase in Thai travellers to China, Sun believes it would be difficult to surpass Japan – the top destination for Thai tourists. “We are optimistic about the continued recovery of the tourism industry globally, especially in Asia, where there have been many visa-free travel agreements made in recent months,” Sun concluded. by Alex Morgan Picture courtesy of Assawin Pakkawan Source: The Thaiger 2024-02-29 - 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