KEY ISSUES AT A GLANCE
- Apec ends, MPs sharpen knives. With the Apec summit now over and the House of Representatives entering its final stretch, the political temperature is set to rise with a number of issues to be closely watched. First among them is which political party Prime Minister Prayut Chan-o-cha, widely seen as leader of the conservative camp, will bring into the battle with the liberal camp led by the Pheu Thai Party and the Move Forward Party. The Ruam Thai Sang Chart Party, or the United Thai Nation (UTN) Party led by Pirapan Salirathavibhaga, has made itself clear that it is ready to welcome Gen Prayut, who was the sole prime minister candidate of the ruling Palang Pracharath Party (PPRP) in the 2019 polls, into its fold. Gen Prayut’s decision is likely to shape the political landscape ahead of the next polls tentatively scheduled for May next year. If he decides to seek re-election under the UTN, some PPRP members may defect. Source: Bangkok Post Print Edition
- Akara Gold Mine invests 500 million Baht to repair machinery and recruit workers. Akara Resources said it is preparing to resume gold production at its mines in Phetchaburi and Pichit provinces by year-end. The company is recruiting 160 workers for the first phase of its operation, which includes a metallurgic plant with the production capacity of 2.7 million tonnes annually. Akara Resources noted that over 1,000 people have already lined up to file for job applications. It will in due course hire an additional 1,000 workers to run another metallurgic plant. The company also noted that it expects to reach a settlement with the Thai government at the TAFTA tribunal by the end of this year. Sources: Thairath, Matichon
AUSTRALIA IN THE NEWS
GENERAL
- Three mild tremors felt in Mae Hong Son Monday, no reports of damage. The Earthquake Observation division of the Meteorological Department said that the first tremor, of 3.8 magnitude, was recorded at 7.40am at a depth of about seven kilometres in Huai Pha sub-district of Mueang district. Two milder earthquakes, of 1.9 and 2.3 magnitude respectively, were recorded at 4.42am at a depth of about one kilometre and at 5.28am at the depth of two kilometres. Residents in several sub-districts reported feeling the vibrations to the Meteorological Department via its website. Source: Thai PBS World
POLITICS
- Apec ends, MPs sharpen knives. With the Apec summit now over and the House of Representatives entering its final stretch, the political temperature is set to rise with a number of issues to be closely watched. First among them is which political party Prime Minister Prayut Chan-o-cha, widely seen as leader of the conservative camp, will bring into the battle with the liberal camp led by the Pheu Thai Party and the Move Forward Party. The Ruam Thai Sang Chart Party, or the United Thai Nation (UTN) Party led by Pirapan Salirathavibhaga, has made itself clear that it is ready to welcome Gen Prayut, who was the sole prime minister candidate of the ruling Palang Pracharath Party (PPRP) in the 2019 polls, into its fold. Gen Prayut’s decision is likely to shape the political landscape ahead of the next polls tentatively scheduled for May next year. If he decides to seek re-election under the UTN, some PPRP members may defect. Source: Bangkok Post Print Edition
- Chuwit hands ‘triad details’ to ministry. Former politician and massage parlour tycoon Chuwit Kamolvisit has urged the Justice Ministry to probe major Chinese triad gangs believed to be laundering money through “grey businesses” in the country. Mr Chuwit on Monday went to the ministry, where he submitted documents and information related to the alleged financial activities of major triad gangs. His move follows claims he made on Thursday that the triad gangs’ alleged boss named Mr Tuhao, fled the country with the assistance of certain state officials on a jet just hours after police raided a pub linked to him in Bangkok’s Yannawa district late last month. Mr Chuwit also claimed that the jet was kept at the Civil Flying Training Division, known as Sunny 604, which is under the supervision of the air force. Source: Bangkok Post
- Hong Kong leader tests positive for Covid on return from APEC. Hong Kong leader John Lee tested positive for Covid-19 on his return from an Asia-Pacific summit, the city’s government said Monday, days after he met Chinese President Xi Jinping and other heads of state. Lee visited Thailand’s capital Bangkok last week to attend a meeting of the Asia-Pacific Economic Cooperation (APEC) forum, with his office saying he tested negative on rapid antigen tests for all four days he was there. Source: Thai PBS World
- Skytrain operator releases another video, reminding BMA of THB40 bn accumulated debt. Bangkok Transit System Corporation (BTSC) once again played a video clip, featuring BTS Groups Holdings chairman Keeree Kanjanapas, reminding the BMA of the debt, which he said has accumulated to over 40 billion baht. BTSC is a company under the group. The clip was repeated inside trains of the Green Line and at all BTS Skytrain stations. A source from BTSC said the clips would be played for 15 consecutive days. Source: The Nation
ECONOMICS
- Akara Gold Mine invests 500 million Baht to repair machinery and recruit workers. Akara Resources said it is preparing to resume gold production at its mines in Phetchaburi and Pichit provinces by year-end. The company is recruiting 160 workers for the first phase of its operation, which includes a metallurgic plant with the production capacity of 2.7 million tonnes annually. Akara Resources noted that over 1,000 people have already lined up to file for job applications. It will in due course hire an additional 1,000 workers to run another metallurgic plant. The company also noted that it expects to reach a settlement with the Thai government at the TAFTA tribunal by the end of this year. Sources: Thairath, Matichon
- IMF expects Thai economy in 2023 to grow by 3.7 percent in contradiction to the global slowdown. IMF expects the Thai and Chinese economies to be the only 2 countries in Asia that will see economic expansion in 2023 as the global economy experiences a slowdown. The global economy is set to expand by 3.2 percent in 2023 from 6 percent in 2022 due to the Russia-Ukraine conflicts and COVID-19 outbreaks. However, Thailand’s growth is expected at 2.8 percent this year and 3.7 percent next year, while Thailand’s unemployment rate remains the lowest in the world at 1 percent for this year and next year. Source: Thansettakij
- New COVID travel fears. Tourism operators are closing monitoring COVID flare-ups in many countries as the situation may interrupt travel sentiment during the upcoming high season. The Thai Tourism Association is particularly concerned about inbound tourists, particularly from countries that have yet to fully recover from the pandemic’s impact and might refrain from overseas trips because of the resurgence of COVID 19. Source: Bangkok Post
- NESDC expects ‘tourism’ to support GDP growth of 3.2 percent. NESDC revealed that Thailand’s Q3 GDP expanded by +4.5 percent, compared to Q2’s growth of +2.5 percent and Q1’s of 2.3 percent. All economic indicators from private to public investments showed signs of improvement, with tourist arrival number expected at 10.2 million. Economic growth this year is therefore expected at 3.2 percent compared to 1.5 percent in 2021, while inflation is anticipated at 6.3 percent and current account deficit at 3.6 percent of GDP. In the first 9 months of 2022, the economy grew by 3.2 percent YoY. For 2023, tourism will continue to drive the Thai economy, with arrival number forecast at 23.5 million and will generate 1.2 trillion Baht worth of revenue. GDP is projected to grow by 3-4 percent due to the continuous expansion of tourism, with inflation set at 2.5-3.5 percent. Source: Krungthep Turakij, Bangkok Post
- MORE shares nosedive in return to trade. More Return Plc (MORE) shares plunged to a new price floor shortly after the Stock Exchange of Thailand (SET) resumed trade of the stock on Monday, with the bourse warning the price could continue to slide. The Anti-Money Laundering Office (Amlo) had notified brokers to freeze 34 suspicious transactions of MORE stock and its assets worth 5.3 billion Baht as 25 people are believed to be involved in the case. Amlo further revealed that it had uncovered evidence of unlawful activities in relations to the unusual trading of MORE shares from 14-18 November, when the share price rose by 4.3 percent from the previous day. The SEC ordered AWS to temporarily suspend operations from Nov 17, with SET allowing the stock to return to trading on Monday on the MAI market as it continues to investigate the case. Source: Bangkok Post, Krungthep Turakij Print Edition
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