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Monday , March 27 2017
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Thailand

Thailand’s company to invest $2b in Philippines in 5 years

Thailand’s company to invest $2b in Philippines in 5 years
Charoen Pokphand Group (CP Group)

BANGKOK: Thailand’s largest agricultural company is set to pour in $2 billion to expand its pork and chicken production in the Philippines in the next five years, Agriculture secretary Emmanuel Piñol said. Charoen Pokphand Group (CP Group) chairman Dhanin Chearavanont said they decided to invest more in the Philippines because of its distinction as the only country in the whole ... Read More »

Nepal Police arrest 4 Thai including nun for currency smuggling

tribhuvan-international-airport

KATHMANDU: Nepal Police arrested four Thai citizens, including a Thai nun, from Tribhuvan International Airport on the charge smuggling foreign currencies. According to DIG Pankaj Shrestha at the TIA, the four Thai citizens were scheduled to fly to Thailand on Thai Airlines flight on Friday. Police has acquired US $ 286,162 and Indian Rupees 273,180 and 46,800 Thai baht from ... Read More »

Thai police nabs a Malaysian, recovered 65kg heroin, 300,000 pills

heroin and yaba pills

BANGKOK: Thai police detained a Malaysian, following three days of surveillance, in connection with the seizure of 65 kilogram of heroin bound for Penang. The heroin was found inside a car the suspect and his Thai accomplice were travelling in, at the Nakhon Si Thammarat province. A police team which intercepted the duo in the Tham Pannara district also stumbled ... Read More »

Thailand: Biggest food exporter in ASEAN

ASEAN

BANGKOK: Thailand earned 840 billion baht (US$24 billion) from export of food in 2016, making the country the biggest food exporter in ASEAN and 12th in the world, according to the University of Thai Chamber of Commerce. Rice, processed chicken, canned aquatic products, semi-cooked and frozen shrimp and sauce were key items contributing to the growth. The value of Thai ... Read More »

Thailand exports seen down 4% y-o-y in February

down pct

BANGKOK: Thailand’s customs-cleared exports likely contracted in February from a year earlier, a poll showed. In the three preceding months, exports increased on an annual basis. Exports, which are pivotal for Thailand’s economy, are forecast to fall 4.0 percent in February on the year after January’s 8.8 percent rise, according to the median forecast from 10 economists polled. In February ... Read More »

Thailand, Russia to strengthen bilateral ties

Thailand - Russia

BANGKOK: Russian Minister of Transport Maxim Sokolov will visit Thailand on March 24-26 to meet Thai Minister of Transport Arkhom Termpittayapaisith. There is no official information about the ministerial meeting’s agenda, but the talks are likely to focus on tourism and business logistics. Despite Thailand being one of the most popular travel destinations for Russians, the countries have only one ... Read More »

Thai Customs foils attempt to smuggle 21 rhino horns worth €4.7m at Bangkok airport

logo - Thai Customs

BANGKOK: “It’s the biggest confiscation of rhino horns in 5 to 10 years”, said Somkiat Soontornpitakkool, director of Thailand’s Wild Fauna and Flora Protection division. Customs officials said the horns are unusually large and pristine. Two Thai women who had traveled from Vietnam and Cambodia arrived to collect them, before fleeing when their luggage was checked. Warrants have been issued ... Read More »

Thailand’s Charoen Foods eyes poultry exports to EU

Denmark optimistic for a come-back in poultry exports

BANGKOK: Thailand’s Charoen Pokphand Foods aims to increase its poultry exports to the EU after being granted Germany’s QS Standard. CPF revealed it plans to export 70,000 tons of chicken and chicken products worth THB10bn (US$285.3m) to EU markets throughout 2017. The company held a ceremony this week to mark its first shipment of QS-certified poultry products bound for Germany. ... Read More »

Thailand govt. seeks THB12b tax recovery from former PM

Thailand govt. seeks THB12b tax recovery from former PM

BANGKOK: Thailand’s military government is seeking to collect at least 12 billion baht ($360 million) in unpaid taxes and penalties from a prime minister toppled in a coup 11 years ago, in what his supporters consider a continuing political vendetta. Deputy Prime Minister Wissanu Krea-ngam said that in order to avoid a March 31 legal deadline on collecting the money, ... Read More »

Thailand denies increase in VAT by 1%

VAT - Value Added Tax

BANGKOK: There has been confusion in Thailand over remarks made by Prime Minister Prayut Chan-o-cha, after the premier appeared to suggest increasing the seven percent VAT rate to 8 percent to boost the government’s coffers for the funding of various public projects. The Prime Minister was quoted in the national media as saying: “The VAT has been at seven percent ... Read More »

Thai Customs seizes rhino horns worth $5m

Thai Customs seizes rhino horns worth $5m

BANGKOK: Thai customs have confiscated 21 rhino horns with an estimated value of nearly US$5 million in the biggest such seizure in Thailand for years, officials said. Thailand has become a major transit point for the trade in endangered species to other Asian countries. The seizure of the nearly 50 kilogram (110 lb) of rhino horn came days after 300 ... Read More »

AOT non-aeronautical quarterly income swells nearly 11%

aot

BANGKOK: Airports of Thailand saw like-for-like non-aeronautical revenue improve nearly 11% (10.93%) to bt5.5bn in the three-month period to December 31 2016. Non-aeronautical income reached bt5.5bn ($155m), with concession revenue hitting bt3.3bn, an increase of 2.68%. An increase in service revenues from service charges from passenger advance checking by bt378.8m was main driver in the increase, with concession revenue still ... Read More »

Thai Airways, Airbus sign MoU to establish MRO facility at Utapao

Thai_Airways

BANGKOK: Thai Airways International and Airbus signed a Memorandum of Understanding (MOU) to consider developing a maintenance and overhaul (MRO) facility at Utapao International Airport near Bangkok. The agreement was announced on their respective websites. Signed by His Excellency Somkid Jatusripitak, Deputy Prime Minister of Thailand, the MOU will allow the two companies to exchange information to evaluate the potential ... Read More »

Thailand seeks access to auto sector in Pakistan under FTA

FTA

ISLAMABAD: Thailand sought a drastic reduction in the tariff on the auto sector under the proposed Free Trade Agreement (FTA), an official said. Thailand follows Turkey in demanding market access for the auto sector in Pakistan. In the last round of FTA negotiations held in Islamabad, Thai authorities conveyed that the agreement’s implementation would be linked with access to the ... Read More »

Thailand’s EXIM bank ready to open representative office in Myanmar

Thailand’s EXIM bank ready to open representative office in Myanmar

BANGKOK: The Export-Import Bank of Thailand will open a representative office in Yangon, Myanmar, in April to assist the start-up or expansion of Thai companies there. Bank president Pisit Serewiwattana said the Exim Bank has been given a licence to open an office in the former capital city by the Central Bank of Myanmar. The next step is to seek ... Read More »

Thai govt. plans to create single online window for trade by 2018

single-window

BANGKOK: The Thai government plans to create a single online database for importing and exporting through a national single window by 2018 as part of efforts to avoid potential corruption and bribery in processes where the state and private sectors meet. Having a single online database should allow the private sector reliable access to greater consolidated information resources and facilitate ... Read More »

Thailand seizes 422 pieces of smuggled elephant tusks

smuggled elephant tusks

BANGKOK: Thai authorities seized 422 pieces of elephant tusks and arrested a Gambian man suspected of smuggling the ivory. Customs Department Director-General Kulit Sombatsiri said that the tusks were hidden in a shipment listed as unprocessed gemstones. He said the parcel was examined because items from Malawi are regarded as high-risk for smuggled goods and because an ivory seizure last ... Read More »

Thailand, Malaysia eyes to enhance bilateral trade

Malaysia Thailand

BANGKOK: Malaysia and Thailand are determined to see bilateral trade achieve the US$30 billion (RM133 billion) target by next year, with border trade set to play greater role in the coming years. Malaysia’s Ambassador to Thailand, Datuk Nazirah Hussain, said trade with Thailand, the country’s fourth largest trading partner, amounted to US$20.83 billion last year. “Both sides acknowledge that the ... Read More »

Thai stock exchange plans to launch blockchain market by Q3 2017

Thai stock exchange plans to launch blockchain market by Q3 2017

BANGKOK: The Stock Exchange of Thailand (SET) planned to launch a blockchain-based marketplace by the third quarter of 2017, for trading in startups. The investors of both SET as well as the Market for Alternative Investment (MAI), which is a stock exchange for smaller firms and startups, trade in the units of 100. According to SET president Kesara Manchusree, with ... Read More »

Thailand’s exports rises for third month in a row

growth in exports

BANGKOK: Office of the Trade Policy and Strategy director Phimchanok Wornkhorporn said January exports this year amounted to US$17.099 billion, representing an 8.8% increase over statistics for the same period last year. This was the third consecutive month that the country’s exports have enjoyed positive growth, she said. With this satisfactory growth, she said she confidently predicted that this year’s ... Read More »