Indonesia News Gazette

Bangkok, PTT joins forces with executives and employees to improve the landscape. @Khlong Prem Prachakorn creates a garden for city people.

PTT Public Company Limited Kick-off ‘Landscape Adjustment Project @ Prem Prachakorn Canal’ to jointly create a green space. Offered as a royal merit to His Majesty King Maha Vajiralongkorn His Majesty King Vajiralongkorn On the auspicious occasion of His Majesty the King’s 6th cycle 72nd birthday, with Mr. Chatchai Promlert, Chairman of the Board, Mr. Atthaphon Rerkpiboon, Chief Executive Officer and President of PTT Public Company Limited, along with the Board of Directors, executives and employees, joining in planting Trees at Kamphaeng Phet 6 Road, Thung Song Hong Subdistrict, Lak Si District, Bangkok

Mr. Chatchai said that PTT has allocated 10 rai of land next to Prem Prachakorn Canal in the area development project to improve the landscape @ Prem Prachakorn Canal. This area has the advantage of being accessible via 3 routes: a wheeled route from Vibhavadi-Rangsit
Road, a rail route from the Red Line-Thung Song Hong Railway Station, and a boat to Prem Prachakorn Canal. This green area is designed to be a garden in honor of His Majesty the King. that tells of His Majesty King Rama X’s benevolence to the people and to continue the history of the area cultural landscape

Mr. Atthaphon said PTT intends for this area to create peace. Peace of mind for the people including creating growth To be a place of relaxation for city people. Taking into account a sustainable ecosystem Ready to raise the quality of life of the people. Today, large trees and saplings have been prepared, such as rosewood trees, Asok Sri Yala trees, pipe trees, wild padauk trees, honeycomb trees, Bodhi trees, etc., totaling more than 300 trees, alternating with medium sized shrubs. Including more than 54 types of plants planted to increase green space. The method for planting trees is to allocate the natural structure of trees. Preserve the original trees in the area and additional plants were planted ac
cording to the concept of using trees in the project, namely trees in honor of His Majesty the King. Native trees of the central river basin Trees for the Biological Monkey Cheek Area and trees for the environment (Dust filter plants – water filter plants)

Throughout 45 years, PTT has continuously placed importance on caring for society, communities, and the environment through operations in every dimension. along with taking care of stakeholders in a balanced way It aims to develop businesses towards a low-carbon society and be a good organization for society. Ready to ignite power and raise the quality of life of Thai people. Let’s grow side by side in a stable and sustainable way.

Source: Thai News Agency

Bangkok, SET closed this morning at 1,360.90 points, an increase of 3.44 points (+0.25%), trading value approximately 20,063 million baht.

Morning stock trading The index moved mostly in positive territory. The highest point was 1,364.91 points and the lowest was 1,355.44 points.

Source: Thai News Agency

Nonthaburi,, Director of the Office of Trade Policy and Strategy or OTC follows trends in the art toy trade situation around the world. Found increased growth in both the global and Thai markets. Seeing commercial opportunities for artists and entrepreneurs Suggestions to expedite support and public relations To push the toy industry as well as supporting Thai artists to produce works continuously Help create work and increase income into the country.

Mr. Poonphong Naiyanaphakorn, Director of the Office of Trade Policy and Strategy (Director of the Office of Trade Policy and Strategy), Ministry of Commerce, revealed that Art Toys are a type of collectible toy product that is currently in trend. Art toys are toys that are designed by artists or designers. It is a combination of modern art and traditional toys. Made from a variety of materials including plastic, vinyl, wood, steel, velvet and resin. The highlight of Art Toys is to focus on creating characters without having to have a story. But it has a new l
ook. Produced in limited quantities causing competition for possession And if it’s the work of a famous artist or is currently in trend. The demand is increasing. causing the price to increase as well

In addition, the manufacturer It has also added the charm of selling in the form of random boxes (Blind Boxes), creating excitement for buyers from unboxing who don’t know what form the art toy will be in. Until there was a trend in the style of pop culture (POP Culture) or contemporary culture that is very popular. The art toy market has grown significantly over the past decade. From the beginning it was just a product that was popular with a specific group. Until it has spread widely and is a popular phenomenon today. The main customer group is Gen Z (people born from 1995 onwards), office workers. (White-Collar) who are between 15-40 years old and more than 70 percent are women because they have a passion for products that are cute and collectable.

In addition, data from HTF Market Intelligence, the world’s
leading market research company, indicates that in 2023, the world’s art toy market value was 8,517.81 million US dollars. and is expected to grow by an average of 4.26 percent until reaching a value of 10,938.96 million US dollars in 2030. The largest art toy markets are in Asia, North America, and Europe, respectively.

Countries in Asia that are centers of art toy production and collection include China, Japan, and South Korea. China, in particular, has the largest market and art toy production base in the world, as evidenced by POP MART Company, which It is China’s leading manufacturer and distributor of art toys. There are more than 2,000 retail stores.

all over china and spread to more than 100 locations around the world, including Thailand. According to China’s Xinhua News Agency, more than 80 percent of the world’s art toys are produced in China. One-third of them are produced in Dongguan, Guangdong Province. As of 2022, there were more than 87 large enterprises in Dongguan. Production of art toys an
d created industrial output value of more than 16,660 million yuan (2,479 million US dollars), expanding by 29.80 percent from the previous year.

Art toys are part of the products in the toy category. (Customs Tariff 9503) In 2023, the world market has a total import demand worth 50,044.82 million US dollars. for Thailand There is an import value of 128.26 million US dollars in 2023, an increase of 11.79 percent from last year’s value of 114.73 million US dollars. By Thailand importing toys (including art toys) the highest from 3 countries: China, Japan, and Vietnam. At the same time, Thailand has an export value of 251.09 million US dollars in 2023, a decrease of 9.87 percent from last year’s value of 278.58 million US dollars. by countries where Thailand exports toys (including art toys) in up to 3 countries, namely the United States, Japan, and the United Kingdom, according to information from Pop Mart Company, a well-known manufacturer and distributor of art toys in China. It is expected that Thailand wi
ll be a potential market with rapid growth in the art toy category from an increasing number of buyers. There is also a habit of collecting all sets of purchases. This is unlike other countries where they are bought purely for fun.

It is well known that many Thai artists and art toy designers have made world-famous works, such as Ms. Nisa Srikhamdee or Molly, the artist who designed “CRYBABY, the Girl with Tears”, Mr. Patcharapon Tangruen or Alex Face, the artist. created ‘Mardi, a child in a three-eyed rabbit costume’ and Ms. Sirinya Puengsuwan or Poriin, the artist who created ‘Fenni, a cute fox,’ which is considered a good sign for art toys and other character products designed By Thai artists who can expand the market all over the world. Because art toys are not just toys or collectibles. But it is one of the products that buyers can use to decorate the interior of their homes. It is considered a work of art that indicates taste. And because Art Toys are products produced in limited quantities, not enoug
h to meet demand As a result, the price of art toys has increased until they become assets.

However, Art Toys are a product worth keeping an eye on. From the trend of the world’s art toy market expansion and the increasing import of art toy products from Thailand. It shows the commercial opportunities of both Thai artists and entrepreneurs in developing products suitable for both domestic and international customer groups, such as inserting Thai art and culture into designs. Creating works with famous artists or characters and using beliefs as a component in design, such as the Ganesha art toy and the lucky cat art toy which can increase economic value Enhance the popularity of tourism and create Thai soft power along with recommendations to relevant agencies Accelerate the promotion of knowledge and product development public relations and create opportunities to showcase the talents of Thai artists and entrepreneurs To push Art Toys and the Thai toy industry to be known and accepted around the world.

Sou
rce: Thai News Agency

Nonthaburi, Minister of Commerce Announcement of the best Jasmine rice and Thai rice of the year Supporting farmers and mills to maintain high quality Expand the market around the world Pointing out that last year rice exports reached 8.76 million tons, the highest in 5 years, with jasmine rice still maintaining good export levels despite higher prices than competitors.

Mr. Phumtham Wechayachai, Deputy Prime Minister and Minister of Commerce Presiding over the announcement of results and award ceremony of the Thailand Jasmine Rice Contest 2023 (41st time) and the Outstanding Quality Rice Contest of Thailand 2023, organized by the Department of Internal Trade. To find and preserve Thai excellent quality jasmine rice. Promote the cultivation of good quality jasmine rice. and create a model for farmers Responding primarily to the needs of consumers who prefer high quality news. There is also a marketing connection for farmers who win the contest to add value, create income, and expand distribution channels for
farmers and agricultural institutions in a sustainable way.

Rice is the main economic crop of Thailand. Involving more than 4.7 million farmer households And people in most countries consume rice as their main food. Reflects the food and economic security of the country. Including being involved with many farmer brothers and sisters. The government through the Ministry of Commerce recognizes the importance of Thai farmers who are the backbone of the nation, implementing policies, developing, supporting and promoting farmers. Under the principle of “market leading, additional innovation, increasing income” so that farmers have increased income. Jasmine rice is considered a rice in the premium rice market that is famous for its unique identity. It has long, slender, beautiful seeds. It has a shiny color. When cooked, it has an aroma similar to the smell of pandanus leaves. Soft and smooth taste Therefore, it is the most popular among consumers both in Thailand and abroad. Even though the price is higher than o
ther types of rice, it is still in demand in the market. In order to maintain quality continuously Policy upgrading in both production and quality control is therefore necessary. To build confidence for consumers and for Thailand to remain as the world’s premier source of production and export of jasmine rice. Thailand is an important producer of rice in the world.

However, in 2023, Thailand was able to export rice as high as 8.76 million tons, considered the highest in the past 5 years, valued at over 178,135 million baht, an increase of 28 percent over last year. Jasmine rice still maintains Export levels are good even though prices are higher than competitors. The export volume in 2023 is at 1.32 million tons, an increase of 5.6 percent from 2022. Important export markets include the United States, China, Canada and Hong Kong, having traveled to many countries and gaining appreciation for Thai rice. Whether it is China in many provinces, the United States and many other countries. Everyone praises it even
though the price is higher than other places. But you can still feel the specialness of Thai jasmine rice.

Mr. Wattanasak Sueaiam, Director-General of the Department of Internal Trade, said that Today’s Thailand Jasmine Rice Contest is divided into 2 categories: individual farmer category and types of farmer institutions This time, farmers growing jasmine rice from 22 provinces in the northeastern and northern regions submitted a total of 967 rice samples to the contest and also brought samples of white rice from those who applied to participate in the contest. Academic rice quality inspection both chemical and physical Sent to the contest judges both at the provincial and national levels for consideration and selection until a total of 21 winners were awarded, divided into 18 individual farmers and 3 from farmer institutes, as honorary plaques and certificates of honor. With prize money totaling more than 625,000 baht, the Deputy Prime Minister and Minister of Commerce presented awards to farmers and mill o
perators. Producer of quality rice Winners of the Thailand Outstanding Quality Rice Contest 2023 include 11 awards in various categories such as jasmine rice, Thai fragrant rice, and long-grain glutinous rice. For the list of winners of the Thailand Jasmine Rice Contest for the year 2023 includes:

Types of individual farmers include:

First prize: Mr. Narong Chanthung, Ubon Ratchathani Province

1st runner-up award, Mrs. Chansombong, Phayao Province

2nd runner-up award: Mr. Surian Sanglai, Surin Province

Types of farmer institutions include:

First prize Naked Jasmine Rice Community Enterprise, Village No. 5, Muang Thong Subdistrict, Roi Et Province

1st runner-up award, Agricultural Cooperative for Customer Marketing, BAAC, Nakhon Phanom Company Limited, Nakhon Phanom Province

2nd runner-up award, Community Rice Center, Organic Rice, Mae O Subdistrict, Chiang Rai Province

At the event, there was an MOU to buy and sell jasmine rice in advance at market prices. Higher than the market price of 500 baht/ton
, 6 pairs, more than 343.4 tons, to ensure that high quality rice has a market to support. For those interested, more information can be found at Department of Internal Trade website www.dit.go.th or Line@ MR.DIT .

Source: Thai News Agency

Bangkok, Hot to very hot weather continues during the daytime. Therefore, heat accumulates. As a result, electricity use broke the record for highest electricity use, exceeding 35,668.8 megawatts, an increase of 4.5% from 2023.

The Electricity Generating Authority of Thailand said that due to the extremely hot weather this year Causing electricity use to continuously surge to record highs (peaks) Most recently, there was a new national peak on April 23, 2024 at 10:53 p.m. at 35,665.8 megawatts, with an average temperature of 31.5 degrees Celsius, with the highest demand for electricity occurring last night. Higher than last year by 1,535.3 megawatts or 4.5 percent due to hot to very hot weather conditions during the daytime. Therefore, heat accumulates. Resulting in the highest electricity usage. Breaking the record for highest electricity usage in the country and becoming a new record again.

The previous record for the country’s highest electricity use was Occurred on April 22, 2024 at 10:57 p.m. at a lev
el of 35,550.9 megawatts. On April 22, 2024, the average temperature throughout the country was approximately 35-38 degrees Celsius.

While the record for highest electricity use in 2023 occurred on May 6, 2023 at 9:41 p.m. at a level of 34,826 megawatts.

This is only in April this year, when the weather is extremely hot. As a result, electrical peaks have occurred 4 times.

Source: Thai News Agency

House of Representatives, The Governor of the BoT wrote a letter to the Cabinet warning against moving forward with a 10,000 baht digital wallet, fearing that it would create a lot of debt.

Mr. Setthaput Suthiwatnarueput The Governor of the Bank of Thailand (BoT) has written a letter to the Cabinet Secretariat dated 22 April 2024 to offer opinions for consideration at the Cabinet (Cabinet) meeting on 23 April 2024. that the 10,000 baht digital wallet top-up project is a large-scale project in the country It takes a lot of money. It may cause debt obligations to the government in the future as follows:

1. Necessity of the 10,000 baht digital wallet top-up project and its impact on the country’s fiscal stability. Care should be taken to cover only the target group. In order to lighten the burden of living expenses Help stimulate the economy in an efficient and cost-effective manner. and use a reduced budget Especially vulnerable groups has not yet fully recovered, such as those with low incomes or 15 million
welfare card holders, which can be processed immediately and a budget of only 150,000 million baht and should be done in phases (phasing) to reduce the impact on fiscal stability. The need to stimulate consumption on a large scale is not great. In 2023, Thailand’s private consumption expanded by 7.1 percent, compared to an average expansion of 3 percent per year from 2010 – 2022.

The 10,000 baht digital wallet top-up project creates a large fiscal burden in the long run. and if unable to stabilize the government debt burden It will increase the risk that Thailand’s credit rating will be downgraded. For example, Moody’s evaluation criteria has determined that the interest expense-to-income ratio of countries in the Baal group (Thailand’s current rating) should not exceed 11 percent. that the digital wallet top-up project of 10,000 baht will cause rates to exceed the threshold in 2025 if Thailand is downgraded in its credit rating This will cause the cost of borrowing from the public and private sectors to inc
rease.

Increasing the loan limit for fiscal year 2025 to almost the full limit specified by law. This leaves another loan limit of approximately 5,000 million baht, compared to the average remaining balance of more than 100,000 million baht in previous years. This may affect the allocation of credit lines from the 2024 budget, causing the central budget to pay for emergencies or needs to decrease to the point that it may not be sufficient to support emergencies. Under the global political situation, uncertainty is high and natural disaster conditions are becoming more severe.

The government should consider the value of using the budget of 500,000 million baht to invest in solving structural problems and raising the economic potential of the country in the long term. Examples of past budget uses include the Medical Personnel Development Project (using an average budget of 3.8 million baht per position), creating more than 130,000 medical personnel positions, the 15-year free education project for students na
tionwide (83,000 million baht per year), supported for a long time. Up to 6 years, the double-track railway project from Nakhon Pathom – Chumphon (40,000 million baht per line) can develop more than 10 lines. The Blue Line Project (190,000 million baht per line) can develop more than 2 lines.

2. Source of funds for implementing the 10,000 baht digital wallet top-up project, with a budget of 500,000 million baht, taken from the expenditure budget. and borrow money from the BAAC, with the government accepting the burden of compensation for expenses or loss of income according to Section 28 of the Fiscal Discipline Act. It must not conflict with the control of the currency system. and providing financial assistance to farmers It should be legally clear that such actions are within the authority and authority and are governed by the law. Objectives of BAAC

In order to ensure that the operation is carried out correctly and carefully, it is proposed that the Cabinet assign the Ministry of Finance to consult with
the BoT Council of State as the person overseeing the risks and status of specialized financial institutions. There is concern that The government will assign the BAAC to support the digital wallet top-up project of 10,000 baht, with an outstanding debt burden with the BAAC of approximately 800,000 million baht.

3. The system developer for the 10,000 baht digital wallet top-up project is considered complex and must support a large number of users. Therefore, it must be a system that is efficient, stable and has sufficient security. In order not to cause systematic risk, the BoT is concerned about the development and operation of the system. Therefore, the PromptPay and Thai QR Payment systems should be used to avoid duplication. Reduce system development costs and make the most of it from existing payment infrastructure

With the conditions for exercising rights being complex in many dimensions. Including being an open-loop system, it must connect to a variety of service providers. The structure should be de
fined. and a clear system architecture as well as complete and concise development and testing plans in order not to cause systematic risk Supports a large number of users, preventing them from getting stuck or spending that is not in line with the project conditions.

4. Risk management of leaks or corruption Responsible agencies should establish mechanisms to reduce the risk of leaks or corruption. in various concrete steps Especially issues where problems should be expected from the beginning, such as guidelines for checking the income and assets of project participants to meet the specified qualifications. Preventing registration as a fake store Determining the type and size of stores to accommodate spending conditions on prohibited products.

The BoT is of the opinion that Consideration of the framework of principles and Various details of the 10,000 baht digital wallet top-up project are detailed. Complicated, uses a large budget Affecting the fiscal burden in the long run There is a risk of leakage or
corruption in various steps, so it must be fully tightened. Therefore, it is proposed that the Cabinet assign relevant agencies. Review and present additional information As well as creating guidelines or measures to solve various problems or risks in a concrete manner.

Source: Thai News Agency

Bangkok, RATCH Group Public Company Limited announced the appointment of Mr. Nitat Woraponpipat as Managing Director. Effective from 1 May 2024

Mr. Nitat Woraponpipat is considered a person with knowledge. Expertise and work experience covering all activities of the electricity generation business value chain, both fossil fuel and renewable energy types. as well as research and development of innovations and technologies that support the energy transition and support the goal of carbon neutrality and net zero greenhouse gas emissions. It will be integrated to determine the direction and growth strategy of the company. Both economic value Shared values ??that are passed on to society and environment as well as moving forward towards the company’s carbon neutrality goal in 2050.

Before assuming the position of Managing Director of RATCH Group, Mr. Nitat was assigned to serve in important positions. of the Electricity Generating Authority of Thailand, including the Deputy Governor of Fuel Assistant Governor f
or Organizational Strategy Director of Electrical System Planning Director of Power Purchase Contracts Department In addition, he has been assigned to act as Chairman Technical Task Force No.3 Commercial Arrangement of the electricity integration project from the Lao PDR. Laos to Singapore via the transmission system of Thailand and Malaysia (Laos, Thailand, Malaysia and Singapore Power Integration Project: LTMS-PIP)

Mr. Nitat is currently 53 years old and graduated with a Doctor of Philosophy degree. Department of Electrical Engineering Master of Engineering Department of Electrical Engineering and Bachelor of Engineering Department of Electrical Engineering from King Mongkut’s University of Technology North Bangkok. In addition, he has also passed training courses in organizational leadership and administration, including the Director Certification Program (DCP 333/2023) and the Association’s Successful Formulation and Execution of Strategy (In-house SFE EGAT 1/2020) course. Promote the Thai Institute of D
irectors, Leadership Succession Program, Class 11, Foundation of the Research and Development Institute for Public Organizations Security Psychology Course, Class 119, Security Psychology Institute National Defense Studies Institute, etc.

Source: Thai News Agency

Bangkok, The Bank of Thailand does not oppose Digital Wallet, but if possible I would like to be specific to the group that is having difficulty. Worth the budget Points out that reducing interest rates is not the main tool to solve debt. Helps reduce short-term debt burden But the outstanding debt has increased in the long term. Ready to keep an eye on the Thai Bankers Association meeting this evening.

Dr. Piti Disayathat, Assistant Governor Monetary Policy Line The Bank of Thailand (BoT) said at the Monetary Policy Forum No. 1/2024 after the Monetary Policy Committee (MPC) voted 5 to 2 to maintain the policy interest rate. at 2.50 percent per year on April 10, 2024, stating that interest is not the main tool for solving debt problems. It’s just to help alleviate the problem. which in foreign countries Even though the flowers are reduced But it cannot solve the problem of high debt. Main factors to solve debt Must increase income from non-interest related forces such as improved exports Higher production.
The MPC is ready to adjust interest rates. But we have to see if there are any big factors. Come in or not? And how sustainable is the impact? Is there enough impact on policy to make an adjustment? 0.25-0.50 doesn’t have much effect on the big picture.

In the case of the Thai Bankers Association Schedule a meeting this evening. After four banks representing the Thai Bankers Association met with the Prime Minister yesterday (April 23), if the focus is on helping vulnerable groups It is in line with the guidelines of the National Bank. to take care of this group since after COVID Depends on the Thai Bankers Association What measures will be taken? If it helps vulnerable groups, it’s a good thing. It’s a matter of market mechanisms.

As for the 10,000 baht top-up project via Digital Wallet, the Bank of Thailand has no objections to the overall project. that the government will have measures to stimulate the economy But the matter of format, if possible I’d like to be specific. Help only groups that are in trou
ble Worth the money and save budget and according to the framework that should be

As for the action in which the government will use the financial resources from the BAAC, it must first be submitted to the Royal Decree for clear interpretation as to whether the financial resources can be used according to Section 28 of the Monetary and Fiscal Discipline Act or not. and depends on the BAAC board. The BoT is responsible for supervising general financial matters. does not have the authority to decide whether it can be done or not

While Mr. Surat Thanboon, Senior Director The Monetary Policy Department of the BoT stated that the interest rate cut To help solve debt problems Helps reduce debt burden only in the short term. But it will result in an increase in outstanding debt in the long run. and increased debt Bank of Thailand Affects long-term economic growth, causing the Bank of Thailand to view that the current interest rate level of 2.50% is appropriate to help strengthen economic stability and support long
-term risks.

Source: Thai News Agency