Indonesia News Gazette

Bangkok, from the case Micro SME business loan customers of Thai Credit Bank Public Company Limited has filed a complaint with the media in the case of requesting a loan and suspecting that he may have been cheated on processing fees and in connection with obtaining life insurance without consent.

Thai Credit Bank Public Company Limited is not complacent. and hastened to investigate the incident. It was found that the bank had followed normal procedures. and is correct according to the criteria under the supervision of the Bank of Thailand We would like to clarify the following issues.

1. The customer requests a credit line for business revolving. By receiving a guarantee from Small Industry Credit Guarantee Corporation (TCG), bank employees Details have been informed to the customer. The customer has signed the loan contract and complete loan acceptance documents. In addition, the bank sends invoices indicating the debt balance and the installment payment amount for each installment to the customer every
month.

2. Issues regarding life insurance

The customer has applied for two life insurance policies covering credit limits (in the names of the customer and the customer’s foreign husband) which are intended to protect the insured. In the event of an unexpected incident (Customer dies) The life insurance company will pay all debts to the bank. and refund the remaining amount to the beneficiary as specified by the applicant in the insurance request. with life insurance premiums for loan protection based on the insured sum that is equal to the credit limit that the customer requests to borrow. In addition, the customer has also applied for 2 health insurance policies (in the name of the customer and the customer’s foreign husband) with the objective of compensating the insured’s income. In the case of staying at the hospital for treatment

However, applying for life insurance and health insurance for every policy. The customer has the signatures of the customer and the customer’s foreign husband clearly. In th
e case of the customer’s husband who is a foreigner Bank employees Explained the insurance process with the customer translating for her husband. which the bank’s employees We also had a conversation with the customer via the LINE application, and the customer submitted his tax identification number to apply for life insurance for the customer’s husband.

3. In the case of TCG fees

Customers receive loan guarantees from TCG under the BI7 loan guarantee program, which has different fees for the first year and renewal year. The customer has made payment according to the project conditions, which the bank has sent to TCG in full. The bank has explained the details. and the customer has signed to acknowledge the conditions and criteria in the loan application document and the guarantee application form completely and correctly.

4. Issue of notification of insurance cancellation and notification of rights to customers.

in the sales process In addition to sales staff who present and sell to customers, the bank a
lso has a Welcome Call process in which another team of employees will call customers. To clarify various details to additional customers including explaining and understanding insurance products and various expenses Including notification of rights regarding cancellation of insurance. that this can be done if the customer has no desire to purchase insurance products which if the customer has a misunderstanding or wondering about the details or want to cancel various insurances, the bank will coordinate to confirm. and can cancel for customers

5. The issue of whether employees who take care of customers actually exist or not. And have all the sales details been explained to customers or not?

There are 2 employees who take care of this customer: 1. Micro SME business customer area manager. (Assistant Director level position) and 2. Micro SME Customer Relationship Manager (RM). Currently, both employees are still employees of Thai Credit Bank. and from investigating employees and asking employees to explain c
ontact details Credit and insurance sales The employee confirmed that he had gone to meet the customer at the business location. along with various details explained Let customers be informed correctly and completely and the customer has agreed to use the service Both loans and insurance with various attached documents that the customer has signed Both loan applications Insurance application loan contract documents and complete documents informing details of various expenses along with evidence of contact and conversation with customers via LINE. The customers talked with the employees and were well informed of the procedures and conditions.

At this time, the bank In the process of summarizing the event and will go see customers again To summarize employees’ understanding of documents and work procedures. Including explaining various facts that have occurred and if there is any information that the customer has that is not consistent with what the employees have informed, the bank is ready to listen and take
corrective action according to the bank’s procedures and processes. as soon as possible next

The Bank would like to confirm that the Bank places importance on fair sales (Market Conduct), including quality control and work standards of employees in taking care of customers and selling products to customers. There is also a process for checking the work of employees to ensure they are in accordance with the code of conduct, not forcing them to sell, and informing them of various rights. of the customer completely Including clear penalties. If employees do not follow the code of conduct set by the bank

In addition, the bank There is also a complaint channel for customers to report corruption or various complaints. You can do so through the Bank’s website or social media, Bank branches, and the Customer Relations Center (Call Center) 02 697 5454. The Bank will inform the complainant about the steps and length of time it takes to process the Bank. Ready to take care of customers In order for customers to receiv
e maximum satisfaction in using the bank’s services.

Source: Thai News Agency

Bangkok, Thai Chamber of Commerce and labor-intensive trade associations. Opposing the 400 baht wage increase nationwide, confirming the stance that not all private sectors are ready.

From the case on May 1, 2024, which was the previous Labor Day, Mr. Pipat Ratchakitprakarn, Minister of Labor, along with Mr. Anutin Charnvirakul, Deputy Prime Minister and Minister of Interior. Announced a wage increase of 400 baht nationwide for all occupations by October 1, 2024.

Most recently this morning (May 7) Mr. Poj Aramwattananon Vice Chairman Thai Chamber of Commerce and Board of Trade of Thailand and Mr. Thanawat Phonwichai, President of the University of the Thai Chamber of Commerce and Chairman of the Advisory Center for Economic and Business Forecasting He held a press conference opposing the minimum wage policy of 400 baht nationwide.

Mr. Poj has read the statement of opposition. Ready to say Received complaints from the private sector Especially in the tourism and service sectors, 54 trade associations submi
tted names opposing the said wage increase because it increases the cost burden until there is no profit left. and the Thai Chamber of Commerce A list of opposing associations will be submitted to the Labor Minister on May 13, which is expected to include 100 trade associations that oppose the wage increase.

However, chambers of commerce across the country and labor-intensive trade associations Agree with raising the level of income for workers, but the annual minimum wage rate adjustment should be adjusted as required by law in Section 87 of the Labor Protection Act, B.E. 2541. The wage increase should take into account educational outcomes and Listen to opinions from the sub-committee considering the provincial minimum wage rate and the Wage Committee (tripartite) again. Adjustment of the wage rate should be based on the skills of the workers. and adjusting the minimum wage rate for specific provinces and business types There should be listening to opinions and studying the readiness of each province.

Adj
usting wages will increase production costs because in some provinces they will go up to 21%. Therefore, adjusting the minimum wage rate without taking into account what the law requires will cause the business sector and entrepreneurs to stop their business, reduce the size of their business or adjust. Business outside the tax system leading to layoffs and eventual layoffs of employees

Mr. Thanawat added that This wage adjustment is a policy increase from the campaign that did not increase as needed. Last year, the Thai economy grew only 1.9% and when looking back 3 years, the Thai economy grew only 6%. According to the survey results of the University of the Thai Chamber of Commerce, it was found that labor wage adjustments It should be adjusted according to the mechanism and the rising cost of living. This adjustment will make employment dull. Entrepreneurs will turn to using more machines in the future.

Source: Thai News Agency

Bangkok, The Chairman of the NRCT is confident that Thai exports will continue to grow at least 1-2% in 2024 and proposes that wage adjustments must be considered thoroughly and determine assistance measures under the Wage Committee mechanism.

Dr. Chaichan Charoensuk, Chairman of the Shippers’ Council of Thailand (STC), said that Thailand’s international trade situation in March 2024 found that exports were worth 24,960.6 million US dollars. Compared to the same month last year (YoY), it shrank by 10.9 percent and had a value in baht of 892,290 million baht, a contraction of 6.6 percent (when deducting gold, oil, and weapons. found to contract by 5.6 percent), while imports were valued at 26,123.8 million US dollars. expanded by 5.6 percent and had a value in baht of 944,828 million baht, expanding by 10.7 percent, resulting in Thailand’s trade balance in March 2024 having a deficit equal to 1,163.3 million US dollars, or equal to 52,538 million baht.

An overview of Thailand’s international trade in Januar
y – March of 2024 found that Thailand exported a total value of 70,995.3 million US dollars. Compared to the same period last year (YoY), it shrank by 0.2 percent (when deducting gold, oil, and weapons. Found that it expanded by 1.3 percent) and had a value in baht of 2,504,009 million baht, expanding by 4.2 percent, while imports were worth 75,470.5 million US dollars. expanded by 3.8 percent and had a value in baht of 2,692,023 million baht, expanding by 8.2 percent, resulting in Thailand’s trade balance in January – March 2024 having a deficit of 4,475.2 million US dollars, or equivalent to 188,014 million baht.

However, the NRCT forecasts export work targets for the entire year 2024, forecasting Thai exports to grow at 1-2 percent (as of March 2024), with important factors to watch for, including 1) geopolitical conflicts. The protracted Israeli-Hamas conflict has had an impact on other countries in the Middle East, such as Iran, affecting trade and the overall economy. and affecting the Strait of Hormuz
, which is the main route for world oil transportation. 2) Concerns about production costs include 2.1) Minimum wages. which adjusted to 400 baht 2.2) Energy costs such as oil and electricity 2.3) The policy interest rate remained stable at a high level. The MPC voted 5 to 2 to maintain the policy interest rate at 2.5 percent per year, and 2.4) Ship freight costs increased high. on every route. 3) Drought problems affect agricultural production. (Fruits come out later than normal season. The production of rubber is less than usual)

In addition, the NRCT has important recommendations: Must support and assist exporters to insure important risks, including 1) exchange rate risk to accommodate the fluctuations in the financial market at the end of the year and 2) the risk of counterparty payments To support economic risks and payment abilities of trading partners

As for the matter of increasing the minimum wage, ‘Wage adjustments must be considered in every aspect and determine measures to help entrepreneurs un
der the Wage Committee mechanism. Considering the impact on the economic system and employment as a whole’ because there are important considerations including: 1) Raising the minimum wage to the same 400 baht nationwide is not consistent with the business model. Especially product groups that are labor-intensive and low-skilled, such as food, agriculture, textiles and clothing. Thailand must compete with low-cost products from China and Vietnam that produce the same products. Therefore, raising the minimum wage is not consistent with the country’s economic fundamentals. It will cause Thailand to lose its ability to compete on the world stage. Especially towards key competitors

2) Minimum wage that is inconsistent with labor productivity (Productivity) will cause problems to the production sector. while the budget allocation to raise labor productivity is less than 1%, reflecting fragile productivity; and 3) a jump in the minimum wage will affect existing industries or labor-intensive industries and SMEs tha
t are unable to change or Transitioning to a high-class industry in a short time

‘It is very important for the government to manage production costs in order to maintain the competitiveness of Thai entrepreneurs in the global economic slowdown.’ There are suggestions to the government for adjusting the minimum wage as follows: 1) It should be adjusted wages and determine measures to assist entrepreneurs under the Wage Committee mechanism (Tripartite Committee) in each area It must take into account the cost of living that varies in each area and the productivity of the labor force. (Productivity) and must consider the impact on the economic system and employment as a whole. 2) Please consider adjusting wages carefully and increasing them gradually. 3) Adjusting wages must be consistent with labor skill. The government must clearly support Total Productivity and Innovation skills of Thai workers, and 4) a joint investment fund should be set up with companies that need to increase liquidity for hiring skilled
workers to improve production processes to increase competitiveness. ‘Dr. Chai Chan said .

Source: Thai News Agency

Reporters reported that The Cabinet resolution meeting (Cabinet) approved the appointment of Mr. Wutthikrai Leeviraphan, Director-General of the Department of Intellectual Property. To assume the position of new Permanent Secretary of the Ministry of Commerce, replacing Mr. Keerati Ratchano, former Permanent Secretary of the Ministry of Commerce, who died, Secretariat Office The Cabinet is preparing to present the names to His Majesty the King according to the procedures.

Biography of Mr. Wutthikrai Leeweeraphan. Currently, Mr. Wutthikrai Was the Director-General of the Department of Intellectual Property on 1 Oct. 2020, aged 58 years, born on 15 Sep. 1966, by education Graduated from Assumption College High School with a Bachelor’s degree in Political Science. Chulalongkorn University and Master of Science in Administration, Boston University, USA

Screenshot

As for the other courses I am a student of the National Defense College (NDC), class 57, public administration and public law course. Organized by t
he King Prajadhipok’s Institute Senior Executive Course High-Level Prevention and Suppression of Corruption Strategy Executive Course, NACC trains the executive committee of the course for senior executives in trade and commerce. and is also the 23rd class of the Ministry of Foreign Affairs’ Inspector General Course. Fiscal year 2016

Government route Started his life as a civil servant as a Commercial Academician 4, Department of Foreign Trade, in 1992, then gradually grew to the position of Director of the Electronic Commerce Division. Department of Business Development, Year 2004, Director of the Chanthaburi Narunat Institute Office of the Permanent Secretary, Ministry of Commerce, 2008

Commercial consultant Office of the Permanent Secretary, Ministry of Commerce, Year 2013) Inspector General of the Ministry Office of the Permanent Secretary, Ministry of Commerce, year 2017, Director General of the Department of Business Development, 1 Oct. 2018 – 30 Sep. 2020, and Director General of the Department of In
tellectual Property, 1 Oct. 2020 – present .

Source: Thai News Agency

Bangkok, Muang Thai Life Assurance Public Company Limited moves forward with the policy of creating accessibility to life insurance for everyone in society (Democratizing Insurance) along with designing and developing products and services that can meet different needs. understandably different and truly accessible To help everyone have stable insurance. and have a sustainable quality of life To reinforce being a life and health planning partner that you can trust. Ready to walk beside you in every step of your life.

Recently, the company has launched the campaign “ShieldLife Life Insurance – Helping you feel relieved.” On the day you leave…’ answers the buyer’s need for living a Worry Free life, conveying the perspective of creating happiness for yourself on the day your age changes. But the mind never changes. with the strong CEO “Mr. Sara Lamsam” as the presenter Ready to present a different perspective on life insurance from the picture of “people who buy it don’t use it People who use it don’t buy it.”
It’s buying life insurance that will allow the buyer to live the life they want. Use the money you earn for yourself. To create stable security for the people behind you.

Mr. Sara Lamsam, Chief Executive Officer of Muang Thai Life Assurance Public Company Limited, said that ShieldLife Life Insurance (Shield Life Insurance) will help you feel at ease. On the day you left without being a burden to those behind By creating and passing on an inheritance to the family to help with financial liquidity. or as a scholarship for your child or as capital to start a business Let’s continue living life. Get the way you want. If you have debt, it will help you pay off your debt burden, whether it’s home debt, car debt, business debt, or other debt. The end is being able to create happiness for yourself and not leave a burden on anyone. Begin planning to create solid security for your loved ones. Protection in the event of death

from accidents and illness With the life insurance plan that you can choose Both life insuran
ce (Whole Life), life insurance with coverage within the period (Term) or life insurance like Universal Life (Universal Life). Choose to pay premiums in a relaxed manner, whether it be short or long, with the chosen coverage limit. as required And insurance premiums can also be used for personal income tax deduction rights.

Everyone can follow such advertisements from channels including television, radio, website www.muangthai.co.th , YouTube, Facebook, Instagram, X, LINE Official Account and TikTok of Muang Thai Life Assurance. Available from 7 May 2024 onwards.

For those interested in the campaign product ‘ShieldLife Life Insurance ‘ from Muang Thai Life Assurance , you can learn more details at the website. www.muangthai.co.th or call .1766 24 hours a day or contact representatives from Muang Thai Life Assurance nationwide or Kasikorn Bank and Land and Houses Bank branches.

However, in the case where the name of the beneficiary is not specified in the policy or specified but the beneficiary died first o
r died along with assured Policy benefits will go to the insured’s estate.

– ShieldLife is the marketing name for whole life insurance. Term life insurance and universal life insurance

– Conditions of coverage are as specified in the policy.

– Insurance underwriting is in accordance with the company’s criteria.

– Insurance premiums can be used for tax deduction rights, provided the criteria are in accordance with the Revenue Department. Set.

Source: Thai News Agency

Bangkok, Muang Thai Life Assurance Public Company Limited launches the campaign ‘ShieldLife Life Insurance – Helping you feel relieved. On the day you leave…’ Answering the needs of buyers to live a Worry Free life, conveying the perspective of creating happiness for yourself on the day your age changes. But the mind never changes to buying life insurance that will allow the buyer to live the life they want. Use the money you earn for yourself. To create stable security for the people behind you.

Mr. Sara Lamsam, Chief Executive Officer of Muang Thai Life Assurance Public Company Limited, said that ShieldLife Life Insurance (Shield Life Insurance) will be a help, not a burden for those behind. By creating and passing on an inheritance to the family to help with financial liquidity. or as a scholarship for your child or as capital to start a business Let’s continue living life. Get the way you want. If you have debt, it will help you pay off your debt burden, whether it’s home debt, car debt, business debt
, or other debt. The end is being able to create happiness for yourself and not leave a burden on anyone. Begin planning to create solid security for your loved ones. That covers the event of death from accidents and illness. With the life insurance plan that you can choose Both whole life insurance (Whole Life), life insurance with coverage within the term (Term) or Universal Life insurance (Universal Life). Choose to pay premiums in the short term or in the long term. The coverage amount can be selected according to your needs. And insurance premiums can also be used for personal income tax deduction rights.

Mr. Sara is also the presenter of this life insurance himself in advertising on various media channels. Those interested in the “ShieldLife Life Insurance” campaign products can learn more details at the website. www.muangthai.co.th or call 1766 24 hours a day or representatives from Muang Thai Life Assurance nationwide or Kasikorn Bank and Land and Houses Bank branches in cases where the beneficiary’s
name is not specified in the policy. or specified but the beneficiary died first or died along with assured Policy benefits will go to the insured’s estate. Conditions of coverage are as specified in the policy. Insurance underwriting is based on the company’s criteria. And insurance premiums can be used for tax deduction rights, provided the criteria are as specified by the Revenue Department.

Source: Thai News Agency

Bangkok, Stock Exchange of Thailand Closed this morning at 1,383.65 points, plus 13.73 points (+1.00%), trading value approximately 22,387 million baht.

Morning trading index Good plus according to region Made the lowest level 1,373.98 points and the highest 1,384.74 points.

Source: Thai News Agency

Bangkok, Thammasat University economists believe that the government and the Bank of Thailand are interested in the country’s interests. Propose to join in the press conference – create a roadmap to work together Driving the country’s economy Point out that banks around the world are reducing interest rates gradually.

Asst. Prof. Dr. Kiatnan Luankaew, Lecturer, Faculty of Economics Thammasat University Revealing the issue of reducing policy interest rates The government wants the Bank of Thailand to reduce interest rates. To help stimulate the economy But the Bank of Thailand (BoT) sees things differently. This is considered part of what has become a trend. It comes from the announcement of the bank’s highly profitable results. Therefore, it is seen that interest rates should be reduced to help reduce the burden on the people. Including concerns that if interest rates are too high, various policies will not be effective.

In this regard, it is considered that even if the National Bank actually cuts interest
rates, it will not be able to reduce interest rates in such a dramatic manner that it will cause a significant change. This is because the principle of reducing interest will be gradually. Because if it decreases too quickly it will affect the exchange rate. Investor confidence and currency flowing in and out of the country which will affect the overall economy.

which the central bank of each country Around the world, interest rates will be reduced gradually. for the economy to adjust In addition, the Bank of Thailand has experts on interest rates and views that maintaining interest rates is beneficial to the government. This is because if interest rates are reduced, even though it will help households somewhat, it will not be much. Although it stimulates purchasing power in the country, it is not the purchasing power that comes from money in one’s pocket. But it is the purchasing power that arises from borrowing that causes household debt to increase, which will make management more difficult and affect oth
er government policies.

However, even after reducing interest rates, purchasing power has actually recovered. Products will become more expensive. The cost of living has increased. And now that Thailand is experiencing a drought, this will be an additional factor that will make things even more expensive. In addition, if there is an increase in the minimum wage. Various things will become more expensive as a result. If this happens, the government will face lower interest rates, drought, and increased inflation. Therefore, maintaining interest rates is to control inflation, which will also affect the exchange rate. The government will focus on solving export problems. Without having to worry about the value of the baht affecting exports.

As for the case where it is viewed that reducing the interest burden will help reduce household debt. It is seen that there is no immediate help in reducing it. For example, if you have a debt of 100 baht, you must repay it in installments at an interest rate from 2% to 1%,
which means you will lose interest from 2 baht down to 1 baht, considered not to have changed much. And if you have long-term debt, the interest will be fixed and float according to the market. Therefore, reducing interest rates will clearly reduce the debt burden. Therefore, what can be done is increasing the income of the people will help more.

‘I believe that both sides have good intentions for the country and the government wants to help the people. The National Bank wants the economy to move forward. But when speaking to each other at different times, there may be misunderstandings. But if there is a joint press conference table simultaneously show the forward direction It came out as a road map. that the government and the National Bank will work together It will become a good sign. Make people feel at ease People who dare to spend money increase the purchasing power of the real economy. Household debt burden decreased It is considered that the Thai economy will be at full capacity for 18 months. If it
does not recover after this, it is believed that it will not be able to keep up with other countries,’ said Asst. Prof. Dr. Kiatnanan.

As for the matter of dismissing the BoT governor, according to international law, it must go through an audit committee. And it must be caused by an operation that causes serious damage to the country or financial institution. Moreover, if the Governor of the National BoT is fired, it is not an action by the government or there is a group or individual recruiting his child to do it. To the government, they will be viewed as goats anyway.

In this regard, there is a BoT Governor who is elected by appointment. which follows the principles of public law Those who are elected carry the consensus of the people. In which direction will it go? Therefore, the National Bank acts as a reinforcement to the government. By using monetary policy to create a stable economic environment. This allows the government to use other policies. To develop the country, stimulate the economy and solve
the desired problems.

Source: Thai News Agency