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Finance Italian-Thai Development Posts Nearly 3 Billion Baht Loss in Q1 as Revenues Plummet
Picture courtesy of Matichon. Italian-Thai Development Public Company Limited (ITD), Thailand’s largest construction firm, reported a dramatic downturn in performance for the first quarter of 2025, with revenues nearly halved and a net loss approaching 3 billion baht. According to the company’s filing with the Stock Exchange of Thailand, ITD’s consolidated revenue from construction services for the three-month period ending 31 March 2025 stood at just 5.096 billion baht. This represents a steep drop of over 11.8 billion baht compared to the same period last year. The sharp revenue decline was primarily attributed to the cessation of revenue recognition from a foreign subsidiary that has since been reclassified as an asset held for sale. Additionally, income from several domestic infrastructure projects, such as building construction, railway systems, ports, and drainage canals, also fell significantly. However, revenue from sales and services rose slightly to 1.744 billion baht, up 117 million baht year-on-year. The increase was largely driven by higher income from mining-related services. On the cost side, ITD reported a reduction in construction service costs to 7.967 billion baht, down by 7.6 billion baht from the previous year, also due to the reclassification of the aforementioned foreign subsidiary. Conversely, costs for sales and services increased to 1.822 billion baht, a rise of 175 million baht, reflecting higher mining service costs and increased expenses at certain subsidiaries. The company posted a gross loss of 2.949 billion baht, compared to a gross profit of 1.36 billion baht in Q1 last year. The gross loss margin stood at 43.11%, a significant reversal from the 7.31% gross profit margin recorded in the same quarter of 2024. ITD cited increased losses from major projects, particularly in railway systems, building construction, ports, and industrial facilities, as key factors, along with the elimination of gross profit recognition from the reclassified foreign subsidiary. The company has not yet declared any dividends for the period, and further financial impacts may follow depending on the outcome of ongoing project performance and asset divestment plans. Adapted by Asean Now from Matichon 2025-05-18. -
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How to tell if you're dealing with a MAGA folk?
Just a BS meme to support people who think "winning" is what it's all about and all those bullet points somehow are about "winning". Explain to me how win's here? This is such a lunk head simple minded meme, I just can't believe anyone takes this sh!t seriously. Man, it's depressing. -
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THAILAND LIVE Thailand Live Sunday 18 May 2025
Malaysian Tourists Cause Uproar in Hat Yai with Noisy Midnight Street Racing Picture courtesy of Matichon. Local residents in Hat Yai, have voiced outrage after a group of Malaysian-registered cars disrupted the peace with high-speed driving and deafening exhaust noises through city streets during the early hours of 17 May. Full story:https://aseannow.com/topic/1360944-malaysian-tourists-cause-uproar-in-hat-yai-with-noisy-midnight-street-racing/ -
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Crime Malaysian Tourists Cause Uproar in Hat Yai with Noisy Midnight Street Racing
Picture courtesy of Matichon. Local residents in Hat Yai, have voiced outrage after a group of Malaysian-registered cars disrupted the peace with high-speed driving and deafening exhaust noises through city streets during the early hours of 17 May. According to eyewitnesses and complaints from locals, the group of modified sedans began causing disturbances around midnight on 16 May. Residents of Ban Rai and Khlong Pom subdistricts in Hat Yai reported that the cars raced along Kanchanavanich Road at high speed, producing thunderous exhaust noise and disturbing the entire neighbourhood. Later, more reports emerged from the Kho Hong area of similar scenes. Eyewitnesses described the vehicles forming rows across the road, three cars per row, blocking traffic as they drove slowly and then suddenly revved their engines, creating a deafening roar that forced residents from their sleep. At approximately 91:25 on 17 May, local reporters at the scene near Greenway Market in Kho Hong confirmed the presence of six Malaysian-registered cars driving in formation on the outbound lane from central Hat Yai. The modified vehicles, fitted with loud exhaust systems, drove up and down the road in repeated laps, before parking briefly at the roadside and then continuing on Sri Phuwanat Road. The group, believed to be tourists visiting Thailand during the weekend, has drawn sharp criticism for treating public roads as their personal racetrack. Frustrated residents condemned the reckless behaviour, which they said has become increasingly common. Tourist police are currently reviewing CCTV footage along the affected routes in an effort to identify and prosecute those responsible. Authorities are also coordinating with relevant agencies to enforce stricter controls and prevent a repeat of such disruptive behaviour in the future. Local officials have urged visiting motorists to respect Thai laws and community wellbeing, emphasising that public roads are not playgrounds for dangerous or inconsiderate driving. Adapted by Asean Now from Matichon 2025-05-18. -
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THAILAND LIVE Thailand Live Sunday 18 May 2025
Deadly Land Dispute: Woman 35, Kills Elderly Neighbour in Chaiyaphum Picture courtesy of Khaosod A long-standing land dispute turned deadly in Chaiyaphum province on the evening of 16 May, when a 35-year-old woman allegedly bludgeoned her 61-year-old neighbour to death with a wooden club during a heated altercation outside her home. Full story:https://aseannow.com/topic/1360943-deadly-land-dispute-woman-35-kills-elderly-neighbour-in-chaiyaphum/ -
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Crime Deadly Land Dispute: Woman 35, Kills Elderly Neighbour in Chaiyaphum
Picture courtesy of Khaosod A long-standing land dispute turned deadly in Chaiyaphum province on the evening of 16 May, when a 35-year-old woman allegedly bludgeoned her 61-year-old neighbour to death with a wooden club during a heated altercation outside her home. Police from Ban Duea Station, led by Pol. Col. Krit Seneewong Na Ayutthaya, responded to an emergency call reporting a fatal assault at house number 106 in Moo 7, Non Kok subdistrict, Kaset Sombun district. Upon arrival, officers found the lifeless body of Mr. Thongpon Noksara lying face down in a pool of blood in the middle of the road. The victim had suffered severe head injuries believed to have been inflicted by a blunt object. Nearby, police discovered a fallen motorbike, a handgun lying beside the deceased and a wooden club, thought to be the murder weapon. Ms. Mulan Wonghan, 35, who owns the house at the scene, was waiting to surrender to authorities. She told officers that she and Mr. Thongpon had a history of conflict related to a land ownership dispute. She claimed that the victim had previously threatened her with a firearm and had come to her home again on the day of the incident carrying a gun. According to her statement, Mr. Thongpon initially confronted her at her home, prompting her to flee. However, he allegedly returned shortly afterwards on a motorbike, pursuing her. In fear for her life, Ms. Mulan said she grabbed a wooden stick nearby and struck him on the head multiple times, causing him to collapse. Police took Ms. Mulan into custody and charged her with murder. The victim’s body has been sent to Chaiyaphum Hospital for a post-mortem examination before being released to his family. Authorities continue to investigate the case, including reviewing the history of threats and the role the recovered firearm may have played in the deadly confrontation. Adapted by Asean Now from Khaosod 2025-05-18.
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