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- Dusit Chief anticipates a 2025 rebound to meet investor expectations
SET-listed Dusit International has reassured investors of a more optimistic outlook for 2025, forecasting a revenue of 16 billion baht from transfers of Dusit Residences and a reduction in interest expenses. Group CEO Suphajee Suthumpun mentioned that issues related to the appointment of four new directors and approval of the...
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SET-listed Dusit International has reassured investors of a more optimistic outlook for 2025, forecasting a revenue of 16 billion baht from transfers of Dusit Residences and a reduction in interest expenses.
Group CEO Suphajee Suthumpun mentioned that issues related to the appointment of four new directors and approval of the 2024 financial statements should be reviewed at the upcoming board meeting.
She expressed confidence that the company is on track for a turnaround this year, as revenue from the residential segment of Dusit Central Park—comprising Dusit Residences and Dusit Parkside—approaching 90% sold, is beginning to be realized. “If there are no unforeseen disruptions, we expect to recognize revenue from these residences starting in the fourth quarter,” she stated.
Last year, Dusit International reported total revenue of 11.2 billion baht and an EBITDA of 1.65 billion baht, but incurred a net loss of 237 million baht, primarily due to interest payments on a 6-billion-baht loan at 5.7% interest, used for investments.
With a relatively modest registered capital of 850 million baht, the company avoided raising funds during the pandemic, instead relying on perpetual debentures and short-term loans from financial institutions. Once income from property transfers increases and debts are repaid, the lowered interest expenses are expected to improve profitability, potentially beginning this year.
Mrs. Suphajee emphasized that she still enjoys strong trust from major shareholders and the board to lead Dusit, which is nearing the conclusion of its nine-year strategic plan (2016-2025).
The company maintains its goal to raise revenue to 9 billion baht in 2025, representing a 20-25% increase from 2024. To diversify revenue streams, Dusit reduced its hotel revenue share from 90% to 67%, while boosting contributions from the food sector to 18% and education to 5%.
Although the Thai tourism outlook remains subdued, the continued operation of Dusit Thani Bangkok and 294 properties across 18 countries is expected to support hotel revenue growth of 20-25%.
Regarding Dusit Foods, which reported a net loss of 20 million baht, Mrs. Suphajee attributed this to investments with new partners aimed at expanding revenue, noting that some unprofitable food businesses have been divested.
On the potential delisting of Dusit Thani from the stock market, she believes such a move is unlikely.
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14 June 14 2025Bangkok Newshttps://bangkokone.news/?p=208044 - Thailand Implements Stricter Regulations on E-Commerce Activities
Thailand is set to enhance regulation of digital marketplaces by introducing new rules for certain platform types, aiming to strengthen consumer protection and promote responsible e-commerce, according to the Electronic Transactions Development Agency (ETDA). The government plans to tighten supervision over “high impact” platforms with large user bases and significant...
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Thailand is set to enhance regulation of digital marketplaces by introducing new rules for certain platform types, aiming to strengthen consumer protection and promote responsible e-commerce, according to the Electronic Transactions Development Agency (ETDA).
The government plans to tighten supervision over “high impact” platforms with large user bases and significant consumer activity, in an effort to address issues related to substandard products and safeguard customer interests.
The proposed regulations focus on online marketplaces and social commerce platforms characterized by high transaction volumes or extensive user engagement.
ETDA officials convened on Wednesday with representatives from digital platform operators to discuss their roles under the existing Digital Platform Services (DPS) royal decree, which was published in the Royal Gazette on December 23, 2022.
The agency has also drafted an organic law based on the decree, which assigns additional responsibilities to digital marketplaces with specific features as outlined in Section 18(2) of the DPS decree. This draft law applies to platforms acting as intermediaries for sales, including online marketplaces and social commerce sites with an annual transaction value exceeding 100 million baht in Thailand.
It also covers platforms that are not registered as legal entities with the Department of Business Development and have more than 100 Thai business users or an average user base comprising 5-10% of the national population.
Other characteristics include inadequate oversight over user activities that could lead to illegal acts, human rights violations, or privacy breaches.
According to the draft, these platforms will have additional responsibilities, including registering as a legal entity under Thai law, submitting operational reports to authorities, and verifying merchant data.
They will be required to cooperate with government agencies in reporting merchant violations and need to implement product screening before listing or advertising goods to ensure compliance with standards.
Platforms must also display detailed product information and establish mechanisms for notifying and removing non-compliant products.
Currently, the DPS law mandates platforms operating in Thailand to provide certain operational information to ETDA prior to commencing business.
Over 2,000 platforms have submitted their business details, and ETDA estimates that about 10% of them fall under the scope of the additional duties outlined by the DPSC notification.
Chaichana Mitrpant, ETDA’s executive director, noted that the meeting with platform operators marks a significant step following nearly three years of enforcing the DPS law. The operators discussed business challenges, shared best practices, and clarified their roles and responsibilities.
ETDA is also working on developing guidelines related to platform operations, including rules for managing product advertising and non-standard goods. The agency’s next move is to finalize the list of high-impact platforms and determine the scope of services covered by the draft regulation.
Authorities have indicated that the draft legislation is expected to be enacted into law by August.
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13 June 13 2025Bangkok Newshttps://bangkokone.news/?p=208041 - Smart Traffic Lights Reduce Bangkok Travel Delays by 10-41%
Photo credit: กรุงเทพมหานคร Facebook Page The installation of smart traffic signal systems at 72 key intersections throughout Bangkok has resulted in an average reduction of travel delays by between 10% and 41%, according to Governor Chadchart Sittipunt on Thursday. The city has transitioned from traditional fixed-time traffic lights to an...
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Photo credit: กรุงเทพมหานคร Facebook Page
The installation of smart traffic signal systems at 72 key intersections throughout Bangkok has resulted in an average reduction of travel delays by between 10% and 41%, according to Governor Chadchart Sittipunt on Thursday.
The city has transitioned from traditional fixed-time traffic lights to an adaptive system that utilizes advanced image-processing cameras and AI-powered software. This technology detects live traffic volumes in each direction, adjusts green light durations accordingly, and minimizes waiting times when no vehicles are present.
Additionally, the system monitors delay times to prevent congestion from spilling over beyond intersections, as stated by the Bangkok Metropolitan Administration (BMA).
The 72 intersections equipped with the adaptive signals include major roads such as Rama IX, Din Daeng, Phaya Thai, Sukhumvit, Ploenchit, Rama I, Rama IV, Sathon, Silom, Surawong, Si Phraya, and Phahon Yothin.
Previously, Bangkok operated 561 traffic lights mostly on fixed schedules or manually controlled by police, which often led to inefficient traffic flow and unnecessary delays.
Chadchart noted that the new adaptive systems have demonstrated promising results, improving traffic flow by approximately 15% during non-peak hours, with ongoing assessments during rush hours in collaboration with law enforcement.
The benefits of these systems include smoother vehicle movement, fewer stops, reduced fuel consumption, and lower air pollution levels. The city plans to expand the adaptive traffic system to an additional 200 intersections next year to cover more critical areas.
Chadchart emphasized that, despite the advancements in technology, traffic discipline remains vital. Compliance with traffic laws and proper signal adherence by all road users are essential for the systems to operate effectively.
In particularly congested zones, a combined approach involving smart traffic systems and police oversight is still necessary to manage complex traffic situations.
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13 June 13 2025Bangkok Newshttps://bangkokone.news/?p=208038 - Chinese Exports Surge in Southeast Asia Amid US Tariffs
According to Citigroup Inc., Vietnam, Thailand, and Indonesia are among the Asian nations experiencing the most significant increase in Chinese imports as US tariffs disrupt regional trade dynamics. The surge in Chinese exports to Southeast Asia may be an example of trade diversion, as direct Chinese shipments to the United...
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According to Citigroup Inc., Vietnam, Thailand, and Indonesia are among the Asian nations experiencing the most significant increase in Chinese imports as US tariffs disrupt regional trade dynamics.
The surge in Chinese exports to Southeast Asia may be an example of trade diversion, as direct Chinese shipments to the United States have notably declined in recent months, noted Johanna Chua, Citi’s head of emerging markets economic research, in a Tuesday report.
This influx of often more affordable Chinese goods could create challenges for local businesses and economies, Citi warned. For instance, Indonesia recently recorded a new monthly high in textile imports from China, adding pressure to its already struggling garment industry, which has laid off thousands of workers.
Since early 2023, both overall Chinese export prices and textile shipment costs have been declining. Meanwhile, exports to the US in May dropped by over a third—the largest decline since 2020—amid ongoing trade tensions.
The record levels of shipments to Southeast Asia might also indicate transshipment activities, where China reroutes goods through other countries to circumvent the impact of increased US tariffs, Citi stated. The report highlighted a “significant increase in correlation” between Southeast Asian nations’ rising Chinese imports and their exports to the US.
Transshipment has been a contentious issue in US tariff negotiations with Southeast Asian countries like Vietnam and Thailand, both of which have pledged to tighten rules regarding certificates of origin.
As the US intensifies efforts to curb transshipment, Citi suggested that China might be shifting more of its downstream production to third markets to avoid US tariffs, while continuing to dominate the supply chain for intermediate goods.
Last week, Thai Finance Minister Pichai Chunhavajira announced that the US has agreed to initiate official tariff negotiations with Thailand. Thailand faces a 36% US tariff unless a deal is reached before the upcoming moratorium deadline in July.
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12 June 12 2025Bangkok Newshttps://bangkokone.news/?p=208035 - Thailand-US Direct Flights Resume Under Consideration
Thailand is ramping up efforts to establish direct flight routes between Thailand and the United States as part of the government’s strategy to position the country as a regional aviation hub, according to Transport Minister Suriya Jungrungreangkit. Currently, no airline, including flag carrier Thai Airways International, operates nonstop flights between...
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Thailand is ramping up efforts to establish direct flight routes between Thailand and the United States as part of the government’s strategy to position the country as a regional aviation hub, according to Transport Minister Suriya Jungrungreangkit.
Currently, no airline, including flag carrier Thai Airways International, operates nonstop flights between Thailand and the US. Thai previously ran Bangkok–Los Angeles and Bangkok–New York routes but ceased them in 2015 after the US Federal Aviation Administration (FAA) downgraded Thailand’s safety rating to Category 2.
However, with the FAA reinstating Thailand’s Category 1 status in April this year, Mr. Suriya has urged the Civil Aviation Authority of Thailand (CAAT) to engage with the FAA and the Transportation Security Administration (TSA) to facilitate the resumption of direct air routes.
Introducing these new routes is expected to boost Thailand’s economic, trade, investment, and tourism sectors, while also strengthening global confidence in the country’s aviation standards, he added.
As part of preparations, CAAT is examining the possibility of implementing a pre-clearance immigration system at Thai airports, allowing U.S.-bound travelers to complete immigration checks before departure, thereby improving convenience and streamlining entry procedures upon arrival in the US.
With Thailand regaining Category 1 status, Thai airlines can again operate nonstop flights to the US and enter into codeshare agreements with American airlines. However, Thai Airways has already conducted feasibility studies and concluded that nonstop US routes are economically unviable due to high fuel costs, aircraft limitations, and low cargo revenue. Instead, the airline plans to expand codeshare collaborations with partners like United and Delta to access the US market.
CAAT is also initiating discussions with major US airports to explore the feasibility of launching direct routes. Moreover, talks with United Airlines are ongoing, with the airline showing interest in establishing a direct Bangkok–Los Angeles service. Negotiations are also in progress regarding foreign air operator permits for US carriers interested in operating in Thailand.
Lastly, Mr. Suriya mentioned that Thailand is preparing for an aviation safety oversight audit by the International Civil Aviation Organization (ICAO) scheduled for late August. The results will influence Thailand’s global safety performance ranking through the ICAO’s Effective Implementation Score.
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12 June 12 2025Aviationhttps://bangkokone.news/?p=208032 - Labubu doll sells for $150,000 at auction amid soaring demand
A human-sized Labubu doll sold for an impressive 1.08 million yuan (approximately US$150,000) at an auction in Beijing, highlighting the rising craze for this popular collectible toy embraced by celebrities. The unique mint green Labubu, a monster character designed by Hong Kong-born artist Kasing Lung, was auctioned at China’s Yongle...
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A human-sized Labubu doll sold for an impressive 1.08 million yuan (approximately US$150,000) at an auction in Beijing, highlighting the rising craze for this popular collectible toy embraced by celebrities.
The unique mint green Labubu, a monster character designed by Hong Kong-born artist Kasing Lung, was auctioned at China’s Yongle Auction house on Tuesday alongside 47 other Labubu-related items. The sale also included a limited-edition brown Labubu, which fetched 820,000 yuan, bringing the total sales value of the auction to 3.73 million yuan, according to local media reports. This event, described as the world’s first auction of Labubu artwork, drew thousands of on-site and online bidders, the report noted.
Pop Mart International Group Limited, the Beijing-based creator of the distinctive monster dolls, has seen its shares jump over 180% this year amid the popularity of its soft toys, which are carried by celebrities such as Rihanna and K-pop star Lalisa “Lisa” Manoban from Blackpink. Enthusiasts are known to endure long queues and pay inflated prices to secure their favorite Labubu toys.
A recent incident involved a Chinese bank offering Labubu as free gifts to attract depositors, prompting regulatory intervention and a ban on such practices.
The youngest buyer at the auction was a nine-month-old infant, whose family purchased a co-branded Labubu doll for 32,000 yuan in the child’s name, the report said.
The toys’ popularity has prompted brokerages to raise Pop Mart’s price targets. Deutsche Bank increased its target by 52% to HK$303 ($38.6), citing strong offshore growth, while Morgan Stanley raised its target to HK$302 from HK$224, suggesting it should be valued similarly to companies like Sanrio and Walt Disney.
Last year, Pop Mart’s blind-box series featuring Labubu generated over 3 billion yuan in sales, accounting for nearly a quarter of the company’s revenue.
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11 June 11 2025Bangkok Newshttps://bangkokone.news/?p=208029 - Calls for Action to Stop the Rise in Non-Performing Loans
The National Economic and Social Development Council (NESDC) is calling for measures to enhance debt restructuring efforts to prevent special mention (SM) loans from escalating into non-performing loans (NPLs), following a noticeable increase in SM loans during the final quarter of last year. During a briefing on the social landscape...
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The National Economic and Social Development Council (NESDC) is calling for measures to enhance debt restructuring efforts to prevent special mention (SM) loans from escalating into non-performing loans (NPLs), following a noticeable increase in SM loans during the final quarter of last year.
During a briefing on the social landscape for the first quarter of 2025, NESDC Secretary-General Danucha Pichayanan stated that household debt reached 16.4 trillion baht in Q4 2024, reflecting a modest growth of 0.2% compared to the same period last year. This slower growth was primarily driven by stricter lending standards, especially from commercial banks. Consequently, the household debt-to-GDP ratio declined slightly to 88.4%, down from 88.9% in the previous quarter.
The quality of household credit also showed signs of deterioration. The amount of personal loans overdue by more than 90 days (classified as NPLs) totaled 1.22 trillion baht, representing 8.94% of total credit—an increase from 8.78% in the prior quarter.
However, household debt categorized as SM loans, which are overdue by 30 to 90 days but not yet classified as NPLs, rose to 4.17% of total household debt from 3.52% in the third quarter. SM loans currently amount to 568 billion baht.
Mr. Danucha emphasized that the Bank of Thailand’s “You Fight, We Help” debt relief program aims to prevent loans from turning into NPLs. He highlighted the need for increased public awareness to encourage struggling borrowers to participate in the program and for improved terms that assist borrowers showing early signs of repayment difficulties.
He also pointed out that excessive consumption of luxury goods and premium services may contribute to debt issues, citing a Mahidol University survey indicating that one in three Thais prefer spending on luxury items, increasing their debt vulnerability.
Another concern is the push for cooperatives to join the Credit Bureau, which could help individuals access fairer credit and better manage their debts.
Unemployment and Employment Issues
Thailand’s unemployment rate in the first quarter of 2025 stood at 0.88%, or roughly 360,000 people, which is lower than 1.01% in the same period last year. Conversely, the number of “quasi-unemployed” individuals—those working fewer than 20 hours weekly in agriculture or fewer than 24 hours in other sectors—increased by 14.6% year-on-year, surpassing 4.3 million.
Mr. Danucha attributed the rise in unemployment to economic downturns that heavily impacted small and medium-sized enterprises (SMEs), with around 24,000 SMEs closing in 2024.
Key Issues for Ongoing Monitoring
He identified three critical areas for close monitoring:
- Promoting Innovation and Technology Adoption in SMEs: A World Bank report indicates that Thai SMEs utilize innovation less frequently than their regional counterparts, affecting competitiveness and risking closures. Encouraging these firms to access funding for adopting new technologies is essential.
- Worker Severance Protection: Despite the Labor Protection Act (1998) requiring employers to pay severance based on years of service, many workers—especially those in foreign-owned companies—have not received their rightful compensation. Developing clear measures to ensure proper employee entitlements is necessary.
- Unemployment Risk Among New Graduates: Surveys show over 89% of industry leaders hesitate to hire recent graduates, citing lack of experience, skills, and professionalism. Many companies prefer freelancers, retirees, or leave positions unfilled. Enhancing skills training and adapting educational methods are urgent to better prepare graduates for the workforce.
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11 June 11 2025Bangkok Newshttps://bangkokone.news/?p=208011 - Krungsri Revises SET Index Target to 1,418
Krungsri Research has downgraded its year-end target for the Stock Exchange of Thailand (SET) index to 1,418 points from the previous estimate of 1,660, reflecting a more cautious outlook on Thailand’s economy, weaker-than-expected corporate earnings, and ongoing global trade uncertainties. Despite these challenges, Krungsri observes signs of enhanced market liquidity...
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Krungsri Research has downgraded its year-end target for the Stock Exchange of Thailand (SET) index to 1,418 points from the previous estimate of 1,660, reflecting a more cautious outlook on Thailand’s economy, weaker-than-expected corporate earnings, and ongoing global trade uncertainties.
Despite these challenges, Krungsri observes signs of enhanced market liquidity driven by new investment options such as Thai ESGX funds, the proposed Thailand Individual Savings Account (TISA) long-term equity savings scheme, and a retirement lottery savings initiative.
The firm projects the Thai economy may grow by approximately 2.7% in 2025. Structural reforms—such as household debt restructuring via the “Khun Su, Rao Chuay” debt purchase program—are expected to support economic stability over the medium term.
Additionally, ongoing large-scale infrastructure projects and Thailand’s development as a data center hub attracting Chinese and U.S. investors are seen as catalysts for the country’s growth strategy. Draft legislation on entertainment complexes with legal casinos and the Southern Economic Corridor could also further stimulate economic activity, according to Krungsri.
The research firm recommends investing in value stocks and companies likely to benefit from an easing interest rate environment, including Bangkok Dusit Medical Services (BDMS), CP All, Minor International (MINT), Kasikornbank (KBANK), Bangkok Chain Hospital (BCH), BTS Group Holdings (BTS), JMT Network Services (JMT), and Erawan Group (ERW).
Krungsri highlights that increasing regulatory clarity and ongoing structural reforms foster cautious optimism about Thailand’s long-term investment prospects, despite short-term market volatility.
Meanwhile, the SET announced new rules limiting high-frequency trading (HFT) to only stocks within the SET100 index to bolster market oversight and investor confidence. Effective from July 7, 2025, HFT investors will only be able to trade securities meeting specific liquidity and market capitalization criteria, primarily those in the SET100 and related derivatives such as warrants, depositary receipts, single stock futures, and ETFs.
This regulation aims to reduce price swings in small- and mid-cap stocks that may face limited trading liquidity. Asia Plus Securities (ASPS) commented that these rules could level the playing field and improve confidence in small- and mid-cap stocks, especially those listed on the Market for Alternative Investment (MAI). The brokerage pointed out that 97 companies outside the SET100 had previously experienced volatility from program trading.
ASPS suggested that with HFT restrictions in place, some stocks could become more attractive for short-term speculative trading. It identified potential beneficiaries such as CP Axtra (CPAXT), Stecon Group (STECON), PTG Energy (PTG), Precious Shipping (PSL), Thaicom (THCOM), and Taokaenoi Food & Marketing (TKN).
Under the new rules, HFT investors holding securities outside the designated categories can retain or sell their holdings but cannot initiate new purchases once the regulation is implemented.
Finally, the SET plans to launch its “Jump+” initiative later this month, targeting the participation of 50-100 listed companies in 2025. This three-year program aims to boost the profitability, reduce costs, and improve return on equity of listed firms by providing subsidies or cost-sharing for adopting advanced technologies, including artificial intelligence, in collaboration with tech giants like Google and Amazon.
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11 June 11 2025Bangkok Newshttps://bangkokone.news/?p=207995 - Foreign Investors Demand Clarified Policies to Navigate Market Volatility
Foreign investors are calling for clearer and well-defined policies as they continue to offload Thai equities for the third straight year, with total net sales exceeding 400 billion baht, according to the Stock Exchange of Thailand (SET). In 2025 alone, net foreign outflows have reached 70.7 billion baht, based on...
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Foreign investors are calling for clearer and well-defined policies as they continue to offload Thai equities for the third straight year, with total net sales exceeding 400 billion baht, according to the Stock Exchange of Thailand (SET).
In 2025 alone, net foreign outflows have reached 70.7 billion baht, based on data from the exchange.
During a recent roadshow in Singapore, SET President Asadej Kongsiri highlighted that regional institutional investors have emphasized the need for policy consistency, particularly concerning large-scale infrastructure projects and national development initiatives such as the Land Bridge project.
“Foreign investors prefer clarity and well-crafted policies because they are attracted to markets with high potential returns,” he stated. Additionally, he mentioned support from investors for revising foreign ownership limits in key sectors like tourism, hospitality, and banking to encourage more long-term investment.
Investor sentiment has been affected by global economic challenges. Factors such as proposed US tax hikes, high global interest rates, and a slowing economy have contributed to subdued investment activity and increased volatility in the Thai stock market, especially in May when several Thai companies were removed from the MSCI index during its semi-annual rebalancing.
Economists warn that a worst-case scenario involving a 36% tariff on US exports could lead to just 1% economic growth in Thailand, further dampening investor confidence. Nevertheless, many Thai companies continue to demonstrate strong earnings and dividends, with some initiating share buyback programs due to undervalued stock prices.
Concerns also persist within the tourism sector. Although overall growth remains steady, Chinese tourist arrivals have declined sharply. Public investment is one of the few bright spots, with May projections suggesting signs of recovery.
Despite these challenges, the SET remains the region’s most liquid marketplace, even though daily trading volumes have declined to between 30 and 40 billion baht. Senior SET Vice-President Soraphol Tulayasathien noted that over half of listed companies met or surpassed earnings forecasts, benefitting from falling oil prices that reduced operational costs and from the Bank of Thailand’s rate cut, which lowered financial expenses.
As of May, the SET index declined 4% from the previous month to close at 1,149.18 points, underperforming most regional exchanges. Year-to-date, it has fallen 17.9%, amid market uncertainties driven by domestic and international factors that have weakened investor confidence.
Looking ahead, he suggested that investors may shift toward dividend stocks for sustainable returns, as Thai equities remain attractive due to their consistent dividend payouts. Diversification across various sectors is also recommended as a risk mitigation strategy during uncertain times.
The combined trading value on the SET and the Market for Alternative Investment (MAI) increased by 9.9% month-on-month to an average of 43.3 billion baht (approximately US$1.33 billion). Foreign investors continued to dominate trading activity, accounting for 55.3% of total trading volume, although they posted a net selling of 16.1 billion baht, mainly due to asset reallocation following MSCI rebalancing.
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10 June 10 2025Bangkok Newshttps://bangkokone.news/?p=207987 - AWC’s 5-Billion Baht Ritz-Carlton to Offer Premium Room Rates
Photo Credit: Photo Supplied Asset World Corp (AWC), listed on the SET, has invested over 5 billion baht in developing the Ritz-Carlton Bangkok at the Lhong 1919 Riverside Heritage Destination in Bangkok, with the goal of creating the most expensive hotel room rates in the city. Wallapa Traisorat, AWC’s CEO...
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Photo Credit: Photo Supplied
Asset World Corp (AWC), listed on the SET, has invested over 5 billion baht in developing the Ritz-Carlton Bangkok at the Lhong 1919 Riverside Heritage Destination in Bangkok, with the goal of creating the most expensive hotel room rates in the city.
Wallapa Traisorat, AWC’s CEO and President, stated that the project aims to establish Bangkok’s premier wellness and luxury destination along the river.
Expected to be completed in 2028, the Ritz-Carlton Bangkok will occupy three plots, featuring 191 hotel rooms and covering a total of 50,400 square meters of gross floor area.
The primary location, at Lhong 1919 in the Klongsan district, spans 12,800 square meters or 8 rai, leased from the Wanglee family for over 60 years. This site will be developed into a 167-room hotel with a 425-square-meter ballroom, while preserving heritage Chinese buildings and the Mazu shrine on the premises.
Two additional plots, totaling 3 rai and located across the Chao Phraya River in the Songwat area, will host 24 exclusive rooms on one site, and restaurants and activity spaces on the other.
The hotel will also feature a private boat service along the Chao Phraya River and wellness retreat programs, according to Mrs. Wallapa. About 20% of the rooms are planned as large suites with two to three bedrooms and communal spaces, targeting long-stay guests. This approach, similar to the Bangkok Marriott Hotel The Surawongse, has proven successful in attracting visitors from China and the Middle East.
Additionally, there are plans to develop an exclusive Ritz-Carlton lounge at Asiatique.
Despite challenges in the Chinese market, AWC’s properties continue to perform well due to a diverse international clientele supported by global hospitality chain loyalty programs with over 650 million members. Revenue per available room (RevPAR) at InterContinental Chiang Mai increased by 56% year-on-year in the first quarter, indicating strong demand from high-spending tourists.
However, bookings from the MICE sector remain slow, especially in Bangkok, due to lingering concerns following the March earthquake and ongoing global uncertainties such as trade tariffs.
Upcoming projects include Jurassic World: The Experience at Asiatique, set to open next month and expected to attract an additional 30,000 visitors daily, and the Pattaya Marriott Resort & Spa, scheduled to launch later this month.
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10 June 10 2025Bangkok Newshttps://bangkokone.news/?p=207984