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  • Thai Airways Set to Receive 12 Billion Baht Injection Prior to Relisting

    The Finance Ministry plans to inject an additional 12 billion baht into Thai Airways International (THAI) Plc by October this year, hoping the national carrier can be relisted on the stock exchange by the middle of 2025 at the latest. According to Tibordee Wattanakul, director-general of the State Enterprise Policy...

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    The Finance Ministry plans to inject an additional 12 billion baht into Thai Airways International (THAI) Plc by October this year, hoping the national carrier can be relisted on the stock exchange by the middle of 2025 at the latest.

    According to Tibordee Wattanakul, director-general of the State Enterprise Policy Office (Sepo) under the Finance Ministry, the company’s performance has significantly improved thanks to enhanced operational efficiency and reduced expenses, coupled with the strengthening of the baht against the US dollar, leading to profitability.

    The plan to relist on the Stock Exchange of Thailand (SET) is proceeding as scheduled, he said.

    The plan for the capital injection and relisting on the stock market requires approval from policymakers, which is expected near the end of the year, said Mr Tibordee.

    According to the business rehabilitation and relisting plan, THAI shareholders must increase their capital.

    The Finance Ministry, as one of the major shareholders, prepared a plan to increase the airline’s capital by 12 billion baht to maintain its shareholding proportion.

    After the capital increase, the ministry’s shareholding would total roughly 40%, ensuring that THAI does not revert to being a state enterprise.

    Regarding the source of funds for this capital increase, Mr Tibordee said it will initially come from two sources: the 2025 fiscal budget and the Vayupak Fund.

    In related news, Sepo is expediting efforts to increase revenue and reduce expenses to improve the performance of four other state enterprises: State Railway of Thailand (SRT), Transport Co, National Telecom Plc, and MCOT Plc.

    The office is also asking the respective supervising ministries to assist in further rehabilitating their businesses.

    The post Thai Airways Set to Receive 12 Billion Baht Injection Prior to Relisting appeared first on Bangkok One News.

    24 May 24 2024
    Aviation
    https://bangkokone.news/?p=201556
  • Thai Banks Report 1.2% Increase in Loan Growth

    The Thai banking sector has recorded modest loan growth in the initial four months of the current year, largely influenced by stricter loan standards in the backdrop of a sluggish economy. By April 2024, the ten SET-listed banks disclosed a net loan portfolio of 13 trillion baht. This marks a...

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    The Thai banking sector has recorded modest loan growth in the initial four months of the current year, largely influenced by stricter loan standards in the backdrop of a sluggish economy.

    By April 2024, the ten SET-listed banks disclosed a net loan portfolio of 13 trillion baht. This marks a 1.2% year-on-year increase and a 0.4% rise from the end of 2023, as per findings from the Kasikorn Research Center.

    Aphinant Klewpatinond, the Chief Executive of Kiatnakin Phatra Financial Group, the parent company of Kiatnakin Bank, noted subdued loan growth during this period. This was attributed to intensified loan approval criteria owing to heightened credit risks amid the tepid national economic landscape.

    The bank adopted a more cautious approach towards loan expansion spanning retail, small and medium-sized enterprises (SMEs), and corporate banking segments. Loan demand dwindled in parallel with economic challenges, he remarked.

    With a surge in loan rejection rates due to stricter criteria demanding higher loan-to-value ratios overall, Kiatnakin Bank has principally targeted high-end clientele to uphold asset quality standards, Mr. Aphinant highlighted.

    For instance, he emphasized the bank’s focus on mortgage products with a minimum house price ranging from 5-7 million baht. By directing efforts towards the upper-income bracket, positive growth was seen in mortgages this year, attributed partly to a lower baseline figure. Housing loans accounted for 60 billion baht or 15% of the total loan portfolio.

    Regarding large corporations and SET-listed companies, the bank exercises caution by evaluating their financial standings meticulously, he added. Several local companies with moderate to significant sizes have displayed weakened debt repayment capabilities, evident through bond rollovers.

    SMEs are perceived as a vulnerable group due to their general fragility, particularly for loans lacking full-value collateral, Mr. Aphinant mentioned. Therefore, the bank adheres to a selective strategy while lending to SMEs, focusing on collateral-backed loans.

    Challenges persist in the credit risk domain, especially concerning auto loans, which constitute about 50% of the bank’s overall loan portfolio. Factors such as sluggish new car sales and heightened competition within the automotive industry have made auto hire-purchase loans more challenging.

    Given the uncertain economic and business outlook for the latter half of 2024, Kiatnakin Bank aims to prioritize asset quality over loan growth for the remaining year, potentially resulting in stagnant loan growth figures, Mr. Aphinant concluded.

    The post Thai Banks Report 1.2% Increase in Loan Growth appeared first on Bangkok One News.

    24 May 24 2024
    Bangkok News
    https://bangkokone.news/?p=201553
  • Singapore Airlines Adjusts Seatbelt Sign Policy Following Fatal Turbulence

    Singapore Airlines has implemented stricter cabin-service protocols for handling turbulence following a recent tragic incident where one passenger lost their life and many others were injured during a turbulent flight originating from London. In response to the emergency landing in Bangkok after Flight SQ321 experienced sudden altitude loss on Tuesday,...

    The post Singapore Airlines Adjusts Seatbelt Sign Policy Following Fatal Turbulence appeared first on Bangkok One News.

    Singapore Airlines has implemented stricter cabin-service protocols for handling turbulence following a recent tragic incident where one passenger lost their life and many others were injured during a turbulent flight originating from London.

    In response to the emergency landing in Bangkok after Flight SQ321 experienced sudden altitude loss on Tuesday, the airline has announced a more vigilant approach to turbulence management. This includes pausing in-flight meal services when the seatbelt sign is activated, as well as discontinuing the serving of hot drinks. Additionally, crew members are now required to return to their seats and secure themselves during turbulent conditions.

    Singapore Airlines emphasizes that the safety of both passengers and crew remains a top priority. The airline will continuously reassess its procedures to ensure the well-being of everyone onboard.

    Although the revised policy does not mandate passengers to wear seatbelts throughout the entire flight regardless of flying conditions, it underscores the importance of remaining seated and buckled up when turbulence is expected. While airlines generally advise passengers to do so, it’s crucial for safety measures during unstable flight times.

    The injuries sustained by passengers highlight the significant vertical forces exerted during turbulence, particularly on those not properly secured. Reports from Flight SQ321 described passengers being forcefully thrown into the cabin ceiling and objects being tossed around the aircraft during the turbulent episode.

    A considerable number of passengers were admitted to hospitals in Thailand with injuries, including spinal damage and head trauma, with several requiring intensive care and surgical interventions. Singapore Airlines has affirmed that both pilots and cabin crew are well-trained to address safety hazards related to turbulence by securing loose items and equipment to mitigate potential risks of injury.

    Turbulence is a common occurrence when aircraft encounter strong air currents or weather conditions. The effects can be likened to forceful impacts, with passengers experiencing sudden and strong movements akin to falling headfirst off a ladder. Understanding these risks, airlines like Singapore Airlines are focused on enhancing safety measures to protect passengers and crew during turbulent flights.

    The post Singapore Airlines Adjusts Seatbelt Sign Policy Following Fatal Turbulence appeared first on Bangkok One News.

    24 May 24 2024
    Aviation
    https://bangkokone.news/?p=201550
  • MJets Aims to Expand Services Regionally Within 2 Years

    Private jet services operators have experienced significant growth due to a steady demand from affluent individuals and private enterprises in Asia. This has led MJets, a private jet operator based in Thailand, to announce plans for an expansion across all Southeast Asian countries by 2026. William Heinecke, co-owner and director...

    The post MJets Aims to Expand Services Regionally Within 2 Years appeared first on Bangkok One News.

    Private jet services operators have experienced significant growth due to a steady demand from affluent individuals and private enterprises in Asia. This has led MJets, a private jet operator based in Thailand, to announce plans for an expansion across all Southeast Asian countries by 2026.

    William Heinecke, co-owner and director of MJets, highlighted the rapid growth of private aviation globally. He noted the potential in the sector not only from wealthy individuals in Southeast Asia and China but also from a rising number of private companies in the region seeking private jet services for business engagements.

    Despite the challenges posed by the pandemic, MJets managed to sustain its operations by retaining its pilots and flight attendants, enabling a swift recovery compared to commercial airlines.

    Mr. Heinecke emphasized that the high cost of fuel hasn’t significantly affected their clients, given their substantial purchasing power. He also mentioned that the fuel costs for private jets are relatively manageable compared to those for commercial aircraft.

    As Thailand aims to become an aviation hub, Mr. Heinecke believes that the private aviation segment could play a vital role in boosting tourism and the corporate sector in the country.

    According to market research by Mordor Intelligence, the private jet and general aviation market in Southeast Asia is projected to reach $906 million by 2029, showing substantial growth potential from the current $463 million valuation.

    Natthapatr Sibunruang, the CEO of MJets, expressed confidence in the increasing demand for private jet services over the next decade, particularly in Southeast Asia. MJets, which currently operates five private jets for short to long-haul flights, plans to add two more aircraft this year to enhance its services.

    The company’s revenue sources are diversified, with over half coming from private jet charter services, 30% from ground handling, and the rest from various services. Corporate travelers make up a significant portion of their clientele, with a growing interest in blended business and leisure travel offerings.

    MJets recently made a strategic investment of S$17 million in WingsOverAsia, a private jet service provider in Singapore, aiming to bolster its growth prospects. This collaboration is expected to contribute to MJets’ sustained double-digit growth trajectory.

    In Thailand, MJets is focusing on further investments in its fixed-base operator facility at Don Mueang airport. Despite new entrants into the sector like seaplane operators, MJets anticipates minimal impact as seaplanes cater to specific runways that private jets cannot access.

    With plans to provide aircraft maintenance and brokerage services for renowned brands like Cessna and Textron, MJets aims to capitalize on opportunities in the evolving aviation landscape.

    The post MJets Aims to Expand Services Regionally Within 2 Years appeared first on Bangkok One News.

    24 May 24 2024
    Bangkok News
    https://bangkokone.news/?p=201546
  • Foreigner falls to death at mall

    On Wednesday night, a man of foreign origin tragically fell from the fifth floor of a shopping mall situated in Bangkok’s Sukhumvit district. The incident was promptly reported to the Thong Lor police station around 10:30 pm, leading to the arrival of police, forensic experts, and rescue personnel at the...

    The post Foreigner falls to death at mall appeared first on Bangkok One News.

    On Wednesday night, a man of foreign origin tragically fell from the fifth floor of a shopping mall situated in Bangkok’s Sukhumvit district.

    The incident was promptly reported to the Thong Lor police station around 10:30 pm, leading to the arrival of police, forensic experts, and rescue personnel at the scene near the Phrom Phong BTS station on Sukhumvit Soi 35.

    Discovered on a walkway adjacent to the upscale EmQuartier shopping mall, the man, clad in a black T-shirt and jeans, was found deceased in a pool of blood with severe head injuries and broken legs.

    Matichon Online identified the deceased as a 36-year-old Indian national, though police have not yet officially confirmed his identity. Authorities intend to reach out to family members to gather insights into the circumstances surrounding the man’s demise.

    Following the incident, the shopping center’s staff placed a white tent over the body due to heavy rainfall. Reports indicate that the man fell from the fifth floor of the mall.

    Law enforcement officials are currently reviewing security footage from the mall to ascertain whether the man’s fall was a result of an intentional action or an accidental occurrence.

    The post Foreigner falls to death at mall appeared first on Bangkok One News.

    23 May 23 2024
    Bangkok News
    https://bangkokone.news/?p=201542
  • Water leak in Bangkok train caused by air conditioning system blockage.

    The Mass Rapid Transit Authority clarified on Thursday that the water leakage incident on a Bangkok MRT train was not caused by rainwater seeping through the roof but rather by a blockage in its air-conditioning system. The state enterprise addressed the incident that occurred on Tuesday, where water flowed from...

    The post Water leak in Bangkok train caused by air conditioning system blockage. appeared first on Bangkok One News.

    The Mass Rapid Transit Authority clarified on Thursday that the water leakage incident on a Bangkok MRT train was not caused by rainwater seeping through the roof but rather by a blockage in its air-conditioning system.

    The state enterprise addressed the incident that occurred on Tuesday, where water flowed from the A/C vents of a Blue Line train traveling from Bang Sue station to Tao Poon station at 6:35 pm. According to the MRTA, the leakage resulted from drainage issues in the A/C system, leading to water backing up into the train.

    Measures have been taken by the staff to prevent similar incidents in the future, including an increase in the frequency of A/C maintenance.

    The MRTA reassured the public that all trains are equipped with safety mechanisms to prevent short circuits and maintained that the water leakage was entirely separate from rainwater. The incident coincided with heavy rainfall in Bangkok, aligning with the Meteorological Department’s declaration of the onset of the rainy season.

    The post Water leak in Bangkok train caused by air conditioning system blockage. appeared first on Bangkok One News.

    23 May 23 2024
    Bangkok News
    https://bangkokone.news/?p=201521
  • Pride 2024 Events in Thailand

    Visitors from around the world are invited to celebrate Pride Month in Thailand this June. Events are being scheduled in several Thai destinations in celebration of gender diversity as Thailand moves closer to become the first country in Southeast Asia to legally recognise same-sex marriage. Chiang Mai will kick start...

    The post Pride 2024 Events in Thailand appeared first on Bangkok One News.

    Visitors from around the world are invited to celebrate Pride Month in Thailand this June. Events are being scheduled in several Thai destinations in celebration of gender diversity as Thailand moves closer to become the first country in Southeast Asia to legally recognise same-sex marriage.

    Chiang Mai will kick start the month-long celebration with the “Chiang Mai Colourful Pride Month 2024” scheduled from 26 May to 30 June. The parade will take place on 26 May, and until the end of June, activities will include sports competitions, concerts, and seminars.

    In the Thai capit, the main event – “Bangkok Pride Festival 2024” – will be held under the theme “Celebration of Love” from 31 May to 4 June. Activities include forums, concerts and Drag festival. The parade will take place on 1 June, starting from 15.00 Hrs., from the National Stadium to Ratchaprasong Intersection at centralwOrld.

    Also in Bangkok, ONESIAM is organising “The Celebration: Right to Love” from 31 May to 30 June at its five experiential destinations – Siam Paragon, Siam Center, Siam Discovery, ICONSIAM and Siam Premium Outlets Bangkok.

    On Ko Samui, Surat Thani, the “Pride Nation Samui International Festival” under the theme “Let’s Join PRIDEradise” is scheduled on 24-29 June 2024. The Pride parade and music festival will take place on 29 June at Chaweng Beach.

    Also on 29 June, the “Discover Phuket PRIDE 2024” will take place at the Phuket Old Town area, with the parade scheduled to start at 17.00 Hrs.

    Elsewhere in Thailand, Pride events include:

    5 June 2024: Kamphaeng Phet Pride (Kamphaeng Phet)

    8 June 2024: Lampang Pride (Lampang); Surin Pride (Surin); Pattaya Community Pride, Chon Buri

    9 June 2024: Phuket Pride, Phuket

    15 June 2024: Mae Sot Pride, Tak; Udon Pride, Udon Thani; Korat Pride, Nakhon Ratchasima; Nakhon Pride, Nakhon Si Thammarat

    16 June 2024: Chiang Rai Pride (Chiang Rai); Ubon Pride, Ubon Ratchathani

    21 June 2024: Rakaeng Pride, Tak

    22 June 2024: Khemmarat, Ubon Ratchathani; Pattaya International Pride, Chon Buri

    23 June 2024: Isaan Pride, Khon Kaen; Buri Ram Pride (Buri Ram); Hat Yai Pride, Songkhla

    28 June 2024: Phitsanulok Pride (Phitsanulok)

    30 June 2024: Maha Sarakham Pride (Maha Sarakham); Payoon Pride, Trang

    7 July 2024: Nakhon Nayok Pride (Nakhon Nayok)

    The post Pride 2024 Events in Thailand appeared first on Bangkok One News.

    23 May 23 2024
    Bangkok News
    https://bangkokone.news/?p=201515
  • A decline of 11% in car production leads to a drop in domestic sales.

    According to the Federation of Thai Industries (FTI), car production in Thailand declined by 11.02% in April compared to the same period last year, totaling 104,667 units. This decrease followed a 23.08% year-on-year drop in March, with April experiencing extended holidays, as highlighted by the FTI. For the first four...

    The post A decline of 11% in car production leads to a drop in domestic sales. appeared first on Bangkok One News.

    According to the Federation of Thai Industries (FTI), car production in Thailand declined by 11.02% in April compared to the same period last year, totaling 104,667 units. This decrease followed a 23.08% year-on-year drop in March, with April experiencing extended holidays, as highlighted by the FTI.

    For the first four months of the year (January-April), car production saw a 17.05% contraction year-on-year, amounting to 518,790 units. The decline in production has been attributed to reduced output of pick-up trucks due to decreased demand resulting from stricter auto loan conditions imposed by financial institutions.

    In terms of domestic sales, there was a 21.49% decline in April compared to the previous year, following a 29.83% drop in the preceding month, stated the federation. Thailand serves as Southeast Asia’s primary automotive manufacturing hub and a major export center for leading automakers like Toyota and Honda, with pickup trucks being among the key products manufactured.

    The FTI has forecasted car production to reach 1.9 million vehicles this year, in contrast to the 1.84 million vehicles produced in 2023.

    The post A decline of 11% in car production leads to a drop in domestic sales. appeared first on Bangkok One News.

    23 May 23 2024
    Bangkok News
    https://bangkokone.news/?p=201511
  • Yellow Line to fully resume operations on June 10.

    Transport officials have announced that repairs on a broken conductor rail of the Yellow Line monorail system are expected to be completed, allowing full operations to resume on June 10. Following an incident where the conductor rail fell onto a road below on March 28, causing damage to several vehicles,...

    The post Yellow Line to fully resume operations on June 10. appeared first on Bangkok One News.

    Transport officials have announced that repairs on a broken conductor rail of the Yellow Line monorail system are expected to be completed, allowing full operations to resume on June 10. Following an incident where the conductor rail fell onto a road below on March 28, causing damage to several vehicles, measures have been taken to prevent such accidents in the future. Deputy Permanent Secretary Montri Dechasakulsom mentioned the installation and testing of new heat sensors to ensure the line’s conductor rails remain securely fastened. Testing of the heat-sensing system is anticipated to take at least 10 days.

    Mr. Montri, who also heads the government committee overseeing the Blue, Yellow, and Pink lines, mentioned that concessions have been granted to private operators for these lines. After the accident resulting from loose bolts, disruptions occurred in the rail’s electrical systems between Kalantan and Si Udom stations, leading to a temporary shutdown. Currently operating at a limited capacity with a 20% discount on tickets since the incident, the Yellow Line is set to revert to standard fares upon full resumption of services.

    Mr. Montri indicated that the Yellow Line operator would confirm the June 10 resumption date for normal operations. Additionally, enhanced security measures have been implemented at construction sites for the Pink Line’s extension to Muang Thong Thani following an incident where wet-mix concrete spilled off the elevated tracks, causing damage and injury to a passenger. The Yellow Line is operated by Eastern Bangkok Monorail Co and the Pink Line by Northern Bangkok Monorail Co, both under the BSR JV Consortium comprising BTS Group Holdings, Sino-Thai Engineering and Construction, and Ratch Group.

    The post Yellow Line to fully resume operations on June 10. appeared first on Bangkok One News.

    23 May 23 2024
    Bangkok News
    https://bangkokone.news/?p=201508
  • Dozens still receiving treatment in Bangkok following turbulence of flight SQ 321

    Seventy-nine passengers and six crew members remained in Bangkok on Wednesday to receive treatment for injuries sustained during severe turbulence on a Singapore Airlines flight that was forced to make an emergency landing at Suvarnabhumi Airport. Samitivej Hospital reported that 20 individuals were in intensive care on Wednesday, with a...

    The post Dozens still receiving treatment in Bangkok following turbulence of flight SQ 321 appeared first on Bangkok One News.

    Seventy-nine passengers and six crew members remained in Bangkok on Wednesday to receive treatment for injuries sustained during severe turbulence on a Singapore Airlines flight that was forced to make an emergency landing at Suvarnabhumi Airport.

    Samitivej Hospital reported that 20 individuals were in intensive care on Wednesday, with a total of 58 still undergoing treatment across various medical facilities. Twenty-seven had already been discharged, and five passengers were set to return to Singapore that evening.

    Of the injured, six people suffered severe injuries, 39 had moderate injuries, and the rest had minor injuries during the flight from London. Tragically, a 73-year-old British man, Geoffrey Kitchen, passed away due to a suspected heart attack.

    The remaining 131 passengers and 12 crew members boarded a relief flight to Singapore on Wednesday morning, where they were met by CEO Goh Choon Phong. The airline expressed condolences for the deceased passenger and vowed to support all those affected.

    Support and arrangements for passengers, including rebooking flights and accommodations, were provided by Singapore Airlines. Special assistance teams were dispatched to Bangkok to aid those still in treatment.

    Nationalities and conditions of the injured individuals in Bangkok remained unknown at the time. Various foreign nationals, including Australians and Malaysians, were among the injured, with embassy officials monitoring their well-being.

    The flight, carrying 211 passengers and 18 crew members, faced turbulent weather necessitating the emergency landing. Notably, there were no Thai passengers on board, as per the airline’s statement detailing the passengers’ nationalities.

    In Singapore, personnel in Singapore Airlines vests were seen inspecting the affected Boeing 777-300ER as it awaited further assessment.

    The post Dozens still receiving treatment in Bangkok following turbulence of flight SQ 321 appeared first on Bangkok One News.

    22 May 22 2024
    Aviation
    https://bangkokone.news/?p=201505