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Analysis

Thailand's local currency gains raise concerns over exports
OBG
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The baht was one of the best-performing currencies in South-east Asia in 2017, making significant gains against the US dollar as macroeconomic recovery continued and foreign investment surged. A strong baht is a double-edged sword for trade and investment stakeholders, however, as some predict that Thai exporters will be negatively impacted in 2018. Thailand remains at risk of being labelled a currency…

Analysis

Preparations made for Thailand's return to democratic rule
OBG
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Since coming to power after the military coup of May 2014 Prime Minister Prayut Chan-o-cha has repeatedly reaffirmed the government’s intention to lead Thailand back towards democratic rule. The general elections are now expected to take place in May 2019. While the election date has been postponed before, the convergence of key factors may well see the ballot take place. The political and economic…

Analysis

Spending patterns: Moderate uptick in household consumption recorded following period of stagnation
OBG
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Household consumption in Thailand has been constrained by an ageing population and rising consumer debt, and a string of failed stimulus packages launched in the early 2010s led to a sharp increase in the number of distressed and non-performing loans (NPLs) in the consumer segment, exacerbating already challenging circumstances. However, the tide is beginning to turn. The Bank of Thailand (BOT)…

Analysis

Sweeping reforms to strengthen Thailand's banking industry
OBG
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The 1997-98 Asian financial crisis saw many leading South-east Asian economies collapse as a result of high levels of foreign debt and rapid capital outflows following a US Federal Reserve interest rate hike. Thailand was among one of the hardest hit, with negative GDP growth of 7.6% at the height of the crisis, pushing many Thai people below the poverty line. Since then, the government and various…

Analysis

Changing demographic present growth opportunities for Thai insurers
OBG
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A steady demand for life products has continued to fuel growth in Thailand’s insurance market, with shifting demographics and government efforts to boost personal and retirement coverage providing opportunities for insurers. In 2017 life insurance premium totalled BT602bn ($17.43bn), an increase of 5.9%, according to the Thai Life Assurance Association (TLAA). The performance slightly exceeded the…

Analysis

Thailand Futures Exchange sees expansion in trading
OBG
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The Thailand Futures Exchange (TFEX) has been operating since 2006 with a range of products including futures for the Stock Exchange of Thailand (SET) 50 Index, stock, gold, interest rates, currency and agriculture. The two most popular of these in terms of daily trading volume are SET50 Index and stock futures. The trading volume of stock futures has increased substantially from around 969,000 contracts…

Analysis

Blockchain and crowdfunding contribute to evolutions in online brokerage market in Thailand
OBG
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Since the emergence of financial technology ( fintech) in the early 2010s, various terms – such as Bitcoin, initial coin offering, blockchain and crowd-funding – have entered the vernacular. The trends and technologies these words represent have influenced nearly every aspect of the economy. Market Shift Most people in financial services realise change is happening more quickly than ever before.…

Analysis

Private spending recovery to bolster consumption despite US-China trade war uncertainty
OBG
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The Stock Exchange of Thailand (SET) Index continued to rally in 2017 with positive returns of 13.7% after reaching 19.8% in 2016. This largely came from broad-based global economic recovery, which boosted petrochemicals, transport, tourism and energy. Meanwhile, the pickup in domestic demand supported the automotive, property and commerce industries. Foreign investment increased in the domestic market…

Analysis

Thai authorities rewrite energy development plans in light of renewable energy advances
OBG
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Over the years the government has introduced a wide range of plans, programmes and initiatives that outline goals and set targets for the power sector. These plans are continuously being reviewed and amended in response to shifting dynamics in the industry, such as advancements in renewable energy technology and the depletion of domestic resources. Sector Plan The Power Development Plan (PDP), created…

Analysis

Legal reforms pave way for new energy exploration projects in Thailand
OBG
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Thailand’s domestic hydrocarbons resources are fairly small. According to the June 2018 “BP Statistical Review of World Energy”, at the end of 2017 the country had 300m barrels of proven oil reserves – less than 0.05% of the world’s total – and about 7.1trn cu feet of natural gas, roughly 0.1% of the global total. Nevertheless, the assets have been the subject of considerable legislative…