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September 21, 2020
Thai Enquirer Summary
Political News
The student movement that gathered in Bangkok over the weekend despite the downpour
ended peacefully yesterday noon with the students placing a plaque in Sanam Luang to
mark their protest movement.
But by this morning the plaque that was placed in the grounds of Sanam Luang
had gone missing similar to the plaque of the 1932 revolution that marked the
change from absolute to constitutional monarchy in Thailand.
The plaque of 1932 revolution went missing in 2017 with all the CCTV
around the Royal Plaza area going off at the same time and the authorities
could not find who took the 1932 plaque.
It is likely that all the CCTV around Sanam Luang is likely have
‘technical’ problems as well during this time.
The number of people attending the protest ranged from 30,000 to 200,000
The Internal Security Operations Command (ISOC) has estimated the number to
be from 30-35,000
The police present at the protest site have said it was around 70-75,000
The media estimated it to be around 100,000
The protest leaders announced on stage that there were 200,000 people who were
present at the event.
After the sudden end of the protest movement the leaders have called for
A protest movement on September 24th
A boycott and a general strike on October 14th
A boycott of Siam Commercial Bank Plc by closing and burning the passbook
Protest leader Parit “Penguin” Chivarak, a core member of the Free Youth group,
declared a victory after saying Royal Guard police had agreed to pass on their demands to
police headquarters.
“The biggest victory of all is that ordinary people like us can submit a
letter to the monarchy,” Parit Chiwarak, a protest leader, told crowds,
before announcing further action to step up pressure on the establishment.
Another activist, Panusaya Sithijirawattanakul, said their demands do not propose
getting rid of the monarchy. “They are proposals with good intentions to make the
institution of the monarchy remain graciously above the people under democratic
rule.”
Parit told the crowd that the next protest would be on September 24 in front of
Parliament to protest any charter amendment that neglects to reform provisions on
the monarchy’s powers and a general strike on October 14, the anniversary of the
1973 student uprising, and for people to withdraw their money from Siam
Commercial Bank (SCB).
“Get all your money out and burn your bank book,” Parit said, calling on
Thais to take October 14 off work to show their support for change.
Protest leaders handed over a petition to the Privy Council president through
Metropolitan Police Bureau chief Pol Lt Gen Pakapong Pongpetra outside the
Supreme Court.
In the petition, protest leaders want to modernise the monarchy. They are also
demanding embattled Prime Minister General Prayut Chan-o-cha to step down.
Other demands include a new constitution, the dissolution of parliament, and new
elections.
The police have said they are looking into bringing charges from the rally and the
installation of the new plague. The protesters could also be charged for damaging the
Sanam Luang ground for laying the plague there. Bangkok Metropolitan Administration
(BMA) officials have been asked to determine whether the plaque is illegal and if it is it
would need to be removed, Bangkok’s deputy police chief Piya Tawichai told reporters
yesterday.
Meanwhile, the opposition Pheu Thai party has set up a temporary office in front of the
Supreme Court, across the street from Sanam Luang, to monitor the protest and to act as
liaison between the police and protesters in case there is a legal conflict.
The centre is headed by Somkid Chuakhong, an MP of Ubon Ratchathani.
Surprisingly, the party dismantled their temporary office as early as Saturday
(September 19) evening as Somkid said his team had completed its observation on
protesters then and it found no intimidation on protesters by authorities. The party
decided not to carry on its observation on the next day (September 20) and did not
send MPs to join the protest.
However, when asked about the student activists’ “sensitive” demand for reform
of the monarchy at the rally, Somkid said he did not want to touch upon issues
related to the Monarchy and said he would not join the rally, saying that Pheu
Thai was there to gather information.
Hong Kong pro-democracy leader Joshua Wong took to his Twitter to show support to
Thai protesters amid mass anti-government rally during the weekend.
Wong praised Thai protesters for their courage to stage the largest rally since
2014 to fight for democracy and their future.
Meanwhile social media is also buzzing with those who have come out to voice their
opposition to the ongoing protest by the students.
One of the strongest statements has come out by Vorasit Issara or as he is called
Wan Issara, whose family runs the Sri Panwa and Baba Beach Club.
One does not need to repeat what he has said on his social media but I guess
seeing it would indicate what he has said.
Link to his twitter - https://twitter.com/i/status/1307693530303705088
On the charter amendment push, the government, opposition and senate whips are set to
hold a meeting tomorrow (September 22) to discuss 6 constitution-amendment motions;
Pheu Thai MP for Nan Chonlanan Srikaew announced. The 6 motions comprise 2
motions filed by the government coalition parties and 4 by the opposition parties.
The Pheu Thai MP said he believed that the mass anti-government demonstration
during the past weekend will pressure the Senate, which shows indecisive stance
on charter amendments, to support the charter amendment motions as demanded
by the people. The parliament is set to hold a joint sitting on September 23-24 to
consider the 6 charter amendment motions.
Chonlanan said he is confident that at least 84 of 250 senators would vote for a
charter-amendment bill to pass to pass the first reading. He believed that senators
themselves are not happy about the extra powers granted to the Senate under
Section 272 of the 2017 charter which allowed them to join MPs’ vote for a prime
minister. This is time to do the right thing and release that burden, the Pheu Thai
MP said.
Economic News
The House of Representatives on Friday passed a 3.29 trillion baht budget bill for the
2021 fiscal year after a 3-day debate. The bill’s final reading passed with 269 votes in
favour, 60 against and 121 abstentions.
The proposed budget foresees revised spending of 3.29 trillion baht for the fiscal
year starting on October 1, up 2.8 per cent from the current fiscal year. It projects
a deficit of 623 billion baht, up 32.8 per cent.
The bill will also need senate approval, expected tomorrow (September 22), and
then His Majesty the King’s royal endorsement.
There are reports that protest leader Parit “Penguin” Chivarak’s call for protesters to
withdraw their savings from Siam Commercial Bank (SCB), is gaining momentum on
Twitter.
The hashtag “#banscb” rose to the top fourth trending hashtag on Twitter with
more than 300,000 twitter users on September 20.
SCB has come out to warn its staff not to wear their office dress when they come to work
today or over the next few days amid fear of any kind of backlash.
Meanwhile the use of artificial intelligence (AI) to answer questions by customers has
also backfired for SCB after many of the clients sent messages to SCB to close the
account and the AI responded to the customers
AI of SCB says that if you need to close the bank account take your ID card and
go to the branch to close the account
A copy of the response from SCB’s AI
The Federation of Thai Industries (FTI) pushed for a 9-point proposal, comprising mainly
taxation measures, to help businesses and employees get through the outbreak crisis.
The FTI will submit the proposal to the Center for Economic Situation
Administration (CESA)’s meeting for approval on September 23.
Five of the 9 measures involve tax reduction or tax breaks for businesses afflicted
by the pandemic and those who help the government increase the country’s cash
flow by stimulating tourism, according to the proposal recently raised for
discussion with the National Economic and Social Development Council
(NESDC).
The FTI also proposed the government waves corporate income tax for small and
medium-sized enterprises for the 2020 to 2022 tax years. It will also ask the
Board of Investment (BoI) to extend tax benefits for another 2 years, FTI
chairman Supant Mongkolsuthree said.
Fiscal Policy Office (FPO) director Lawaron Sangsanit came out to deny that shop
owners who registered for the new 3,000-baht cash handout scheme will face retroactive
tax collection after declaring information when registered to take part in the scheme.
Lawaron insisted that the scheme is not intended to be used as a tool to collect
retroactive taxes from shop owners based on information they use to register to
join the scheme.
Under the new scheme, the government will subsidise 50% of all spending on a
daily basis. The initial proposal required individuals to spend at least 100 baht per
day at shops registered to participate in the programme.
Under the scheme worth 45 billion baht, the government promised to pay 3,000
baht cash handouts to 15 million people to buy consumer goods. Recipients are
required to register for the cash and the money will be transferred through the Pao
Tang app’s G-wallet app on October 16 The proposal required individuals to
spend at least 100 baht per day at shops registered to participate in the programme
during October 23-December 31, 2020.
Finance permanent secretary Prasong Poontaneat came out to deny rumours that swirled
around that the government is going broke and the delay in welfare and pension payments
in September for elderly citizens and people with disabilities will be delayed.
People aged 60 or older receive 600-1,000 baht in monthly welfare, while welfare
for people with disabilities is about 800 baht per person per month.
The delay in state welfare given to the elderly and the disabled, normally sent out
on the 10 of every month, lasted a week.
Prasong said the delay came about because the government’s calculation of the
number of elderly did not match the existing number and budget allocation.
Thai Airways International Plc (THAI) is predicted to face a net loss between 38 and 40
billion baht this year, said a source with the capital market.
THAI’s performance in the latter half is expected to be better than the first half in
which the airline posted a net loss of 28 billion baht. The airline is expected to
post a net loss of around 10 billion baht in the latter half.
Apart from paying employees’ salaries which are THAI’s main expenses at
present, the airline is said to only have enough cash to survive until the end of this
year.
It is reported that EY Corporate Advisory, the airline’s legal advisor, is currently
speeding up a rehab plan for submission to the Central Bankruptcy Court by
November-December.
The mass anti-government demonstration on the weekend left the Stock Exchange of
Thailand (SET) index unscathed, analysts said.
The rally that ended without violence sent the SET index to positive territory, said
Mongkol Puangpetra, head of research at KTB Securities.
Mongkol, however, said he did not expect the Thai equity market to rise
drastically more than 20-30 points as negative factors are awaiting such as
simmering political tension as anti-government rally could resume later this
month or next month. Other external factors that push down the market are the US
presidential election at the end of the year which also causes fluctuations in the
US and Thai equity markets.
The KTB analyst advised investors to keep a close watch on the Bank of Thailand
(BoT)’s monetary policy committee (MPC)’s next meeting, recommending stocks
with special positive factors like AOT, TQM, KCE and GPSC.
---------------------------------------------------------------------------------------------------------------------
General News
Thailand recorded 6 new COVID-19 infections yesterday (September20), all among
Thais who have returned from abroad and are in state quarantine.
Two new cases are an 8-year old student and a 35-year old housemaid, returning
from Saudi Arabia on September 5 and in quarantine in Bangkok. Both tested
positive for coronavirus on the 17, according to the Centre for COVID-19
Situation Administration (CCSA)’s report.
Three others are students returning from Morocco on September 18. They passed
the screening on arrival, but tested positive in swab tests later on the same day.
The sixth case is a 38-year old man, who arrived from Kuwait on September 13
and entered state quarantine in Chon Buri. He tested positive 5 days later.
Cumulative infections in Thailand, to date, are 3,506, with 3,340 recoveries
Political News Headlines in Thai Media
The name of Thailand’s former revolutionary council which overthrew the absolute
monarchy in 1932 and replaced it with a constitutional monarchy was trending online on
Sunday after a watershed moment between protesters and the government.
o Link- https://www.thaienquirer.com/18525/the-name-of-thailands-former-
revolutionary-council-trends-online-after-sundays-watershed-moment/
This weekend’s protests were the largest in Thailand in six years with organizers saying
more than 100,000 people showing up. The protesters braved storms and rain and a
hostile government to show up and express their voice.
o Link- https://www.thaienquirer.com/18514/opinion-thailands-free-people-stand-with-
the-people-of-belarus-we-hope-they-stand-with-us-too/
Tens of thousands of pro-democracy demonstrators braved rain and heat to rally in
Bangkok this weekend with speeches and events that broached subjects previously
considered taboo for public discussion.
o Link- https://www.thaienquirer.com/18502/pro-democracy-demonstrators-breach-
taboo-wall-in-massive-weekend-rally/
Henry David Thoreau’s On the Duty of Civil Disobedience has inspired a proud yet
solemn global tradition of resistance to government, with giants such as Martin Luther
King Jr. and Mahatma Gandhi following in the footsteps of his writings.
o Link- https://www.thaienquirer.com/18498/the-pandemic-is-not-an-excuse-to-ban-
protests-and-civil-liberties/
The Office of the Attorney General said on Friday that they will pursue two new charges
against the Red Bull heir based on new evidence.
o Link- https://www.thaienquirer.com/18485/two-new-cases-will-be-pursued-against-
red-bull-heir-says-the-office-of-the-attorney-general/
Protesters ended their two-day rally for democracy after pulling off a surprise on Sunday
morning by submitting a letter to the Privy Council, outlining their demands to reform the
monarchy.
o Link-
https://www.nationthailand.com/news/30394835?utm_source=category&utm_mediu
m=internal_referral
Protest leader Parit Chiwarak has called for a nationwide labour strike from October 14
as part of steps he has laid out to fight for the restoration of full democracy.
o Link-
https://www.nationthailand.com/news/30394829?utm_source=category&utm_mediu
m=internal_referral
Anti-government protesters stepped up their defiance of the authorities by installing the
"2020 coup memorial plaque" at the rally site in Sanam Luang in Bangkok on Sunday
morning.
o Link-
https://www.nationthailand.com/news/30394827?utm_source=category&utm_mediu
m=internal_referral
The service contracts of 64 clinics under the Chum Chon Ob Oon (community warmth)
project and some private hospitals in Bangkok has been scrapped with effect from Friday
for allegedly making fraudulent claims for treatment of patients under the government’s
Bt30 scheme, also known as the golden card scheme.
o Link-
https://www.nationthailand.com/news/30394820?utm_source=category&utm_mediu
m=internal_referral
Nearly 83 per cent of respondents to a recent Super Poll survey support pro-democracy
protesters’ key demands – to end state intimidation of critics, dissolve Parliament, and
amend the Constitution.
o Link-
https://www.nationthailand.com/news/30394779?utm_source=category&utm_mediu
m=internal_referral
Prime Minister Prayut Chan-o-cha thanked government officials and the people for their
cooperation in maintaining law and order during the rally of the United Front for
Thammasat and Demonstration which ended on Sunday morning, government spokesman
Anucha Burapachaisri said.
o Link- https://www.bangkokpost.com/thailand/politics/1988619/prayut-thanks-all-
concerned-for-cooperation
Jatuporn Prompan, chairman of UDD, said on Sunday there was still a long way to go for
the student-led movement, especially their demand for the constitution to be rewritten.
o Link- https://www.bangkokpost.com/thailand/politics/1988683/protests-set-to-
rumble-on
Political activist Srisuwan Janya plans to petition the Fine Arts Department and the chief
of Phra Nakhon district office to take legal action against pro-democracy protesters who
put up a copy of the Khana Ratsadon plaque at Sanam Luang, a registered historic site.
o Link- https://www.bangkokpost.com/thailand/general/1988739/city-plaque-prank-
draws-activist-vow
Economic News Headlines in Thai Media
Thais, on Sunday, were using social media platforms to call for a boycott of Siam
Commerical Bank for its perceived connection to the country’s conservative institutions.
o Link- https://www.thaienquirer.com/18518/thais-use-social-media-to-call-for-a-
boycott-of-siam-commercial-bank/
KasikornBank PCL (KBANK), the country’s fourth-largest commercial bank, reported
on Friday that it managed to decrease paid-up capital by writing off 23.93 million unsold
repurchased shares.
o Link- https://www.thaienquirer.com/18478/kbank-writes-off-24-million-unsold-paid-
up-capital-shares/
Have you wondered why the stock markets of certain countries are performing better than
others since the lows recorded in the third or fourth week of March despite almost every
country’s economy nosediving?
o Link- https://www.thaienquirer.com/18396/thailand-is-likely-headed-for-a-k-shaped-
recovery-here-is-what-that-means/
Shares of Ananda Development (ANAN), a leading property developer, rose as much as
7 per cent and closed at 1.45 baht on Thursday trade in spite of the modest performance
of most property developer shares.
o Link- https://www.thaienquirer.com/18434/anan-shares-surge-due-to-new-
governments-incentive-while-analysts-remain-curious/
A new category of real estate investment trusts (REIT) will be set up as a measure to help
property businesses affected by the Covid-19 crisis.
o Link-
https://www.nationthailand.com/news/30394786?utm_source=category&utm_mediu
m=internal_referral
The House of Representatives on Friday passed a 3.29 trillion baht budget bill for the
2021 fiscal year starting in October, aimed at reviving an economy battered by the global
impact of the coronavirus pandemic.
o Link- https://www.bangkokpost.com/business/1988167/parliament-passes-budget-
bill-at-final-reading
The Treasury Department is preparing to adjust investment privileges given to private
investors in the department's special economic zones (SEZs), aligning them with the
incentives for the Eastern Economic Corridor.
o Link- https://www.bangkokpost.com/business/1988823/treasury-tweaking-sez-perks-
for-companies
More than 150,000 foreign nationals need to have their tourist visas renewed by Sept 26
or face a charge of overstaying, warned Pol Col Pakpong Sai-ubol, deputy spokesman of
the Immigration Bureau.
o Link- https://www.bangkokpost.com/business/1988711/tourists-face-arrest-jail-for-
overstaying
The Federation of Thai Industries (FTI) this Wednesday will ask the Center for Economic
Situation Administration to approve its nine-point proposal aimed at using taxation tools
and other relief packages to help businesses and employees get through the crisis.
o Link- https://www.bangkokpost.com/business/1988835/fti-readies-9-point-relief-
proposal-for-firms
SET-listed Asset World Corp Plc (AWC), a property arm of billionaire Charoen
Sirivadhanabhakdi's TCC Group, has revised its hotel and retail strategy to target Thai
tourists, as the inbound market may not revive until late in the third quarter of 2021.
o Link- https://www.bangkokpost.com/business/1988815/awc-moulds-strategy-into-
shipshape
More than 400 candidates are expected to vie for seven seats on the new National
Broadcasting and Telecommunications Commission (NBTC) board when the application
period kicks off next month, according to a management source at the regulator who
requested anonymity.
o Link- https://www.bangkokpost.com/business/1988819/nbtc-board-seats-to-draw-a-
crowd
The government's subcommittee tasked with examining medium and long-term economic
measures has reportedly suggested expediting mega-projects to the Centre for Economic
Situation Administration.
o Link-
https://www.nationthailand.com/business/30394818?utm_source=category&utm_me
dium=internal_referral
Issues to be watched out for
September, 2020 - The Joint Standing Committee on Commerce, Industry and Banking
(JSCCIB) is planning to hire a consultancy to conduct an in-depth analysis on pros and
cons of the highly controversial Comprehensive and Progressive Agreement for Trans-
Pacific Partnership (CPTPP) in a bid to renew its call for the government to join the pact
next year.
September 2020 – Recruitment of new board members of the National Broadcasting and
Telecommunication Commission (NBTC) is set to kick off.
September 21, 2020 – The National Economic and Social Development Council (NESDC,
formerly known as the National Economic and Social Development Board or NESDB) is
to revise the 20-year national strategy at an annual meeting to respond to the COVID-19
crisis.
September 23, 2020 – The Central Bank’s Monetary Policy Committee (MPC) will hold a
meeting to decide on its benchmark rate.
September 23 and 24, 2020 – Members of parliament will meet to consider a motion
seeking to amend the constitution at its first reading.
September 25, 2020 – The current parliamentary session is set to end.
September 30, 2020 – The Stock Exchange of Thailand (SET) is set to extend the revised
equity short-selling regulations from June 30 to September 30 as stock market volatility
remains high in the wake of the Covid-19 pandemic.
September 30, 2020 – The government is expected to lift lockdown restrictions imposed
under the emergency decree.
October, 2020 – The bidding for construction and operation for the 140-billion-baht
Orange Line western extension linking the Thailand Cultural Centre with Bang Khun
Non.
October, 2020 – The Thailand Grand Prix was rescheduled after being postponed due to
the coronavirus outbreak.
October 27, 2020 – The Central Bankruptcy Court is set for first hearings for Nok Airlines
regarding the rehabilitation process.
November 1, 2020 – The next parliamentary session will begin.
Key Data
SET Index 1,288.39 +3.99
Link - https://www.set.or.th/en/company/ipo/upcoming_ipo_set.html
Global Commodities
Metal -Link http://www.bloomberg.com/markets/commodities/futures/metals/
Energy -Link - http://www.bloomberg.com/energy/
Baltic Dry Index (BDI)-Link - http://www.bloomberg.com/quote/BDIY:IND
Global Equity Market’s Movements
Link - http://www.bloomberg.com/markets/stocks/world-indexes/asia-pacific/
Asian Equity Markets Movement
Link - http://www.bloomberg.com/markets/stocks/world-indexes/
Information on September 18, 2020
Buying, Selling or Transfer of shares by Owners/Management
Stock Code Volume Value Action
ALT 470,000 2.97 Purchase
ASIAN 10,000 11.7 Sale
CCET 5,571 9.16 Sale
CCET 1,000,000 1.99 Purchase
CCET 300,000 1.98 Purchase
CGH 656,000 0.67 Purchase
DCC 500,000 1 Purchase
ECL 1,400,000 0.85 Sale
EP 150,000 3.68 Purchase
EP 50,000 3.7 Purchase
EMC 5,000,000 0.17 Purchase
ILM 45,000 12.06 Purchase
MSC 14,000,000 5.5 Sale
MINT 3,150,000 23 Sale
MINT 3,150,000 23 Purchase
OSP 2,200,000 36.81 Purchase
OSP 2,900,000 37.45 Purchase
PSH 5,000 11.3 Purchase
RPH 98,300 5.25 Purchase
RPH 80,000 5.4 Sale
SORKON 650,000 4.7 Purchase
SELIC 15,000 2.18 Sale
TNR 9,600 9.9 Purchase
TNR 10,000 9.7 Purchase
TASCO 200,000 16.1 Purchase
TISCO 400,000 63.37 Purchase
TNITY 516,700 0.1 Sale
UTP 30,000 13.7 Purchase
XD, XE or XM or other notifications
For list of Companies that have dividend payment and AGM meeting schedules click on
http://www.set.or.th/set/calendarofevents.do
Trading Breakdown on the Stock Exchange of Thailand
Daily as of 18 Sep 2020
Unit: M.Baht
Investor Type Buy Sell Net
Value % Value % Value %
Local Institutions 3,441.80 6.89 3,933.35 7.87 -491.55 -
Proprietary
Trading
5,066.64 10.14 4,478.18 8.96 588.46 -
Foreign Investors 26,390.63 52.81 27,573.94 55.18 -1,183.31 -
Local Individuals 15,076.19 30.17 13,989.79 27.99 1,086.40 -
Monthly Cumulative between 1 - 18 Sep 2020
Unit: M.Baht
Investor Type Buy Sell Net
Value % Value % Value %
Local Institutions 49,877.56 8.99 54,176.62 9.76 -4,299.06 -
Proprietary
Trading
67,079.67 12.09 66,038.12 11.9 1,041.55 -
Foreign Investors 207,556.63 37.41 217,665.64 39.23 -10,109.01 -
Local Individuals 230,371.68 41.52 217,005.16 39.11 13,366.52 -
Yearly Cumulative since 1 Jan - 18 Sep 2020
Unit: M.Baht
Investor Type Buy Sell Net
Value % Value % Value %
Local Institutions 1,234,430.81 10.99 1,157,683.07 10.3 76,747.74 -
Proprietary
Trading
1,158,728.01 10.31 1,157,701.81 10.3 1,026.19 -
Foreign Investors 3,947,601.56 35.13 4,212,195.26 37.48 -
264,593.70
-
Local Individuals 4,896,585.09 43.57 4,709,765.31 41.91 186,819.77 -
Total Trading Value 49,975.26 Million Baht
Background Information –
The strength of each party in the Thai Parliament as of May 8, 2019 as per the report by the
Election Commission of Thailand. Elections took place on March 24, 2019
https://www.ect.go.th/ect_th/news_all.php?cid=24
List of MPs - https://www.ect.go.th/ect_th/download/article/article_20190508184334.pdf
Information provided here is copyright of ThaiNews Corp and no part maybe reproduced in any form without
the prior written permission. The opinions expressed are only those of the writer’s and is analysed based on the
situation.
