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Thai Union Group Plc has surpassed its 2025 blue finance target after securing a total of 24 billion baht in sustainable financing, underscoring strong investor confidence in its financial stability and long-term sustainability vision.

Blue finance refers to projects that benefit the oceans, support healthy marine and freshwater environments, and help to create a sustainable “blue economy”.

As a large seafood producer, blue finance is part of Thai Union’s corporate strategy.

Thai Union’s latest transaction in September combined Thailand’s first-ever issuance of blue bonds and sustainability-linked bonds (SLBs), worth 9 billion baht in total, alongside a package of sustainability-linked loans (SLLs) worth 10 billion baht.

The offering comprised blue bonds (2 billion baht, four-year tenor, 1.70% interest) and SLBs (2 billion baht, seven-year tenor at 2.20%, and 5 billion baht, 10-year tenor at 2.46%).

In parallel, Thai Union secured 10 billion baht in SLLs from a syndicate of leading banks, with a five-year maturity.

Yongyut Setthawiwat, managing director and group treasurer for treasury and finance shared services at Thai Union, said this fundraising enabled the company to exceed its 2025 goal for sustainability-linked funding sources.

Thai Union also surpassed its target of 75% long-term debt, reaching 80%, and plans to achieve 100% by 2030, he said.

According to the company, proceeds from the blue bonds will be allocated to the purchase of tuna certified by the Marine Stewardship Council or Fishery Improvement Project, in line with Thai Union’s blue and green finance framework.

Meanwhile, proceeds from SLBs will focus on purchasing shrimp certified and benchmarked by the Global Sustainable Seafood Initiative or a credible aquaculture improvement programme.

“We are in phase two of our blue finance strategy focused on aquaculture. These SLBs underscore Thai Union’s sustainability commitment through our ‘SeaChange 2030’ strategy, with key performance indicators emphasising greenhouse gas emissions reduction and responsible shrimp sourcing,” said Mr Yongyut.

He said this year has been challenging for the company, citing a strengthening baht, US tariffs and geopolitical conflicts, yet Thai Union still managed to achieve its blue finance targets, demonstrating market trust in the company’s creditworthiness.

Thai Union previously received a blue loan of 5 billion baht from Asian Development Bank, the first of its kind in Thailand’s seafood sector, aimed at supporting sustainable shrimp production and farmer certification.

The total of 24 billion baht in sustainable refinancing this year exceeded its target.

The financing instruments are linked to Thai Union’s SeaChange 2030 strategy, supporting objectives such as reducing greenhouse gas emissions, advancing responsible and sustainable aquaculture, and funding ocean-focused projects.

Bangkok governor Chadchart Sittipunt is seeking an additional 32 billion baht from the Bangkok Metropolitan Council (BMC) to settle outstanding debts for operating and maintaining the extended sections of the Green Line electric skytrain.

Mr Chadchart, along with executives and councillors from all 50 districts, yesterday attended the fourth ordinary session of the year at the BMC chaired by Viput Srivaurai, a Bang Rak councillor from the Pheu Thai Party.

High on the agenda was Mr Chadchart’s proposal to seek 32.6 billion baht to settle the longstanding debt with the Bangkok Mass Transit System Plc (BTSC). He said the funds would be drawn from Bangkok’s accumulated reserves as a special expenditure.

As of Tuesday, which marked the end of the previous fiscal year, the BMA had debt obligations from 192 projects worth 75.7 billion baht.

The 2025 financial report shows the BMA’s reserves fell from 83.6 billion to 33.7 billion baht after deductions and allocations under the Act on Rules for Public Administration of Bangkok Metropolis.

The issue stems from unpaid costs for train operations and maintenance (O and M) on extensions one and two of the Green Line, some of which are under Administrative Court review while others are overdue, all incurring heavy interest.

The BMA’s business arm Krungthep Thanakom (KT) was instructed to negotiate directly with the BTSC.

The deal reached was that the BMA must pay debts directly to the BTSC by this month, with interest temporarily reduced from the Minimum Loan Rate +1 to the MLR, saving 286 million baht.

The Central Administrative Court ordered both the BMA and KT to pay 11.07 billion baht in arrears from June 2021 to October 2022 in line with earlier rulings by the Supreme Administrative Court which required payment of 14.5 billion baht, Mr Chadchart said.

He insisted the BMA would not appeal, covering all debts until August, totalling 32.6 billion baht including interest.

The BMA collects only 2.4 billion baht annually from fares on the Green Line, far below the 8.4 billion baht running cost, resulting in subsidies of around 6 billion baht. This is unfair on people who do not use this line, said the governor.

Three measures are planned to fix this: fare adjustments closer to real costs, initial central budget support and additional budgets for fiscal years 2026 and 2027.

More than 30,000 HIV self-test kits have been distributed nationwide under a free online service, revealing infection rates nearly three times higher than the national average, says the Stand by You project.

Since 2022, the project has provided free counselling, risk assessments, HIV self-test kits, and education on HIV and other sexually transmitted infections through its Line account. In 2025, it was also integrated into the Universal Healthcare Scheme. To date, over 500,000 people have accessed the Stand by You account, with 160,000 using its services.

More than 30,000 received counselling and testing kits, with two-thirds under 30 years of age. Among them, 2.8% tested positive, three times higher than the national average.

Dr Kulkanya Chokephaibulkit, Department of Paediatrics, Faculty of Medicine, Siriraj Hospital, and founder of the project, said early detection saves lives and reduces transmission.Studies show that untreated individuals can pass HIV to three to six others, she said, noting that distributing 100 self-test kits could prevent around 10 new infections.

Thailand has 9,000 new HIV cases each year, but the National Aids Strategy (2017-2030) aims to reduce this to 1,000 annually. To achieve this, at least 100,000 test kits must be distributed each year. Failure to act could mean 8,000 new cases annually, or 400,000 over 50 years, adding more than 20 billion baht in treatment costs each year, she said.

“Early detection and treatment are crucial, not only to prevent new infections but also to improve quality of life and reduce the long-term economic burden,” she said.

The electrical wire and cable industry is expected to have bright prospects this year, driven by the growth of electric vehicle (EV) and data centre businesses, says the Trade Association of Thai Cable Manufacturers (ATCM).

More EV sales and investment in data centres in many countries, including Thailand, as part of a transition to clean energy will lift demand for electrical wire and cables used in EV assembly and data centre development, said Pongsapak Nakornsri, president of ATCM.

Data centres are becoming more important as the network of computers provides computational and storage infrastructure for data and the artificial intelligence technology used by businesses, he said.

Many operators of data centres also demand clean energy to run their facilities, which require a huge amount of electricity.

New clean energy projects, including solar and wind farms and hydropower plants, require electrical cables, said Mr Pongsapak, also chief commercial officer of Bangkok Cable Co, a local electrical wire and cable manufacturer.

The clean energy sector is expected to grow by 6% a year globally, he said, citing an estimate from market research agencies.

According to ATCM, the value of the global electrical wire and cable industry is expected to reach US$230 billion this year and increase to $300 billion by 2030.

The growth of the electrical wire and cable sector in Southeast Asia is expected to outperform the global market thanks to high economic growth in countries such as Vietnam.

In Thailand, applications for investment promotion incentives in the first half of 2025 increased by 139% year-on-year to a record 1.06 trillion baht, led by investment in the digital sector, according to the Board of Investment.

The data centre segment attracted a combined investment value of 521 billion baht from 28 projects, as foreign and local tech companies continued to address the soaring demand for cloud services from hyperscalers, which refers to global cloud service companies.

The government continues to promote the EV industry, aiming to make Thailand a regional hub of EV production.

Under its “30@30” policy, Thailand expects EVs to represent at least 30% of total auto production by 2030, comprising 725,000 zero-emission cars, 675,000 electric motorcycles and 34,000 electric buses and trucks.

However, political uncertainties may cause a delay in new investment projects, which will eventually affect the electrical wire and cable industry, said Mr Pongsapak.

‘Annyeong: Pet Adventure In Korea” is the concept for the 15th “SmartHeart Presents Thailand International Pet Variety Exhibition”, which kicks off on Oct 9 and runs daily from 10am to 8pm until Oct 12, at Impact Exhibition Hall 7-8, Muang Thong Thani.

A retro Korean atmosphere will be recreated for this year’s edition, inviting pet lovers and their furry friends to enjoy, take chic photos and shop for products and services. This is another chance to witness more than 20,000 pets of various kinds at many zones inspired by famous Korean landmarks and packed with fun activities.

The “Cat Zone: The Land Of Korean Kitties” will see pedigree and adorable domestic cats on the stage before international judges to vie for cash prizes during “CFA Cat Competition 2025 By SCFC” on Oct 11 and 12. Also running on both days will be the “Bright-Eyed Beauty Cats” contest.

Also prepare to enjoy the world’s first ARBA standard rabbit competition at the “Rabbit Zone: The Cute Rodent Realm”, which will bring over 10 rare rabbit breeds. Also presented will be a mouse race, a hamster contest, an up-close experience with giant bush babies and a debut showcase of Thailand’s only Continental Giant and German Lop blue rabbits.

On display at the “Exotic Zone: Wonders Of Unusual Pets” will be rarely-seen creatures including meerkats, ferrets, sugar gliders, iguanas, ball pythons, horned frogs, eagles, Sulcata giant tortoises, macaws, giant bush babies, rare palm civets, ring-tailed lemurs, prairie dogs, skunk gangs, as well as lizards of various species from around the world.

The “Pet Playground Zone: Friends Show Their Skills” will be full of exciting challenges including grooming contests for cats and dogs, a wall-climbing dog challenge, the 38th “Thailand Pitbull Weight Pulling Championship”, the “UDC The Star” contest. Also, enjoy fun Korean-themed games such as “Do You Remember Me? Appa or Omma?”, “Mama’s Award: Saranghae”, “Come Here Baby: Monitor Lizard Racing” and treat-licking games for cats and dogs.

A number of Korean-themed workshops will also be arranged for pet owners to create a lucky charm, a key chain, a pet leash and other keepsakes, while the “Korea-Pet Street Market” will feature over 250 booths, offering Korean-style pet fashion, healthy pet food and snack, toys and the latest technology innovations. Special promotions will be presented and free pet health check-ups from top veterinary clinics will be available.

Another highlight is a series of business seminars by the Thai Pet Products Industry Association and the Thailand Exotic Pet Keepers Association, on Oct 9 from 12.30pm to 5.30pm. There is no admission fee but seats are limited.

Entry fee is 20 baht, with part of the proceeds going towards the 1 Baht For Hungry Dogs project.

The Tourism Authority of Thailand has launched the “Local Taste Local Thai” campaign, using authentic local food as a magnet to inspire a journey of genuine Thai experiences until Nov 15.

Held under the concept of “Grand Moment, Moment Of Giving”, the campaign is designed to create memorable moments for high-quality travellers and the expat community, support local communities and preserve traditional culinary heritage.

It is woven around four distinct travel lifestyles — Eco and Adventure, Wellness, Foodie and Sporty. These themes are linked to local dishes from four pilot provinces — Uthai Thani, Phuket, Trang and Songkhla.

The campaign aims to inspire travellers to explore lesser-known routes and to savour local food along the way, enriching their journey with a creative and unique touch.

To join the campaign, participants can purchase a 50% discount e-coupon via Line official account: @localtastethai. Each person can purchase up to 10 coupons per day. A special buy 10, get 1 free promotion is also available.

They can use the coupons to receive discounts on food and services at 63 participating restaurants, communities and activities across all five regions of Thailand, from now until Nov 15.

Every expense will be converted into points in the Taste Pass system and top spenders will receive special rewards from Bangkok Airways.

Sales of trucks and motorcycles, as well as farmers’ incomes nationwide, continued to contract in August due to the economic slowdown, according to the Fiscal Policy Office’s (FPO) regional economic report.

Pornchai Thiraveja, director-general of the FPO, said new truck registrations declined across all regions, with those in the central region falling by 70.8% year-on-year, the South by 30.3%, the Northeast by 49.9%, the North by 57.7%, the East by 31.2%, the West by 55.4% and Bangkok and surrounding areas by 50.7%.

New motorcycle registrations also decreased in every region during August, with those in the central region dropping by 9.2%, the South by 14.1%, the Northeast by 15.5%, the North by 22.1%, the East by 3.1%, the West by 4.4% and Bangkok and surrounding areas by 9.7%.

Farmers’ incomes fell across all regions, with those in the central region declining by 16.2%, the South by 5.9%, the Northeast by 11.4%, the North by 26.8%, the East by 10%, the West by 9.6% and Bangkok and surrounding areas by 21.5%.

The FPO also conducted the Regional Economic Sentiment Index (RSI) for September, reflecting regional economic prospects over the next six months.

These prospects are still expected to expand, particularly in the eastern and southern regions, driven by improvements in the agricultural and industrial sectors.

However, issues such as volatile weather conditions, global economic and trade fluctuations as well as progress on stimulus measures require monitoring, noted the office.

All regional RSIs tallied higher than 50%, with the eastern region the highest at 75.4%, while Bangkok and surrounding areas were the lowest at 57.4%.

The eastern region’s future index reflects confidence in continued economic expansion, particularly in the services and investment sectors, as the high season for tourism brings festivals in many areas, said Mr Pornchai.

Measures to promote tourism and investment to develop tourist attractions and infrastructure from both the public and private sectors should also support the sector, he said.

Further stimulus measures and government policies to promote high-technology industries are anticipated, which should support the recovery of domestic demand and investment. As a result, the future economic sentiment index for the Eastern Economic Corridor rose to 79.9.

Meanwhile, the southern region’s RSI tallied 71.0, driven mainly by confidence in the services and investment sectors as the high season for tourism approaches.

New condo launches priced below market averages are attracting buyers despite a sluggish economy, a contracting residential sector and weakened purchasing power, according to SET-listed developer Supalai.

Tritecha Tangmatitham, managing director of Supalai, said the condo market rebounded to about 90% of normal levels from July to August, after slowing in the first half due to weak sentiment in the first quarter and the impact of the March 28 earthquake in the second quarter.

“Sentiment slowed again this month, but conditions are still better than in the second quarter,” he said. “A few new projects avoided weak sales, recording strong take-up as their prices were set below market averages. Price performance is significant.”

Late last month, the company launched Supalai Elite Sukhumvit 39, a 192-unit project on Sukhumvit Soi 39 with unit sizes starting at 56.5 square metres, priced from 6.3 million baht or 120,000 baht per sq m on average.

The project sold out on its launch day — the only new condo in Greater Bangkok to achieve that feat this year — as its prices were set below the market average of more than 150,000 baht per sq m and it offered unit sizes rarely available in the surrounding area, said Mr Tritecha.

“Condo buyers now seek affordable units that allow them to secure mortgages with confidence, while investment buyers are returning if yields are attractive,” he said.

Over the past two years, buyers preferred developers to include everything in the units, pushing up prices so they could secure a mortgage covering all costs at once, said Mr Tritecha.

That trend has changed, as many buyers opt to strip out extras, even solar rooftops on low-rise houses that could reduce electricity bills, seeking to keep unit prices lower and facilitate mortgage approval.

The ability to price new condos below market averages stemmed from securing land at favourable costs, as competition for plots eased significantly during the economic slowdown the past 1-2 years, he said.

“This change allowed us to launch projects at more affordable levels,” said Mr Tritecha. “Land prices today are more than 10% lower than two years ago. Many plots were secured at pre-negotiated prices, while some were acquired at the seller’s original purchase cost from a decade ago.”

Competition for condo development land was minimal due to weak market sentiment, challenges in securing corporate loans, and difficulties in issuing new debentures, even as this year recorded the largest number of plots offered by property developers, he said.

Supalai set a 2025 land investment budget of 8 billion baht and has already spent half. The company’s average cost of funds was 2.63% as of the end of June 2025, said Mr Tritecha.

“Strong financial capacity allows us to acquire land at favourable deals with no rival bids, as well as negotiate better terms with contractors as construction activity has been reduced the past 1-2 years,” he said.

The presales performance of all developers, including Supalai, is expected to fall short of targets set earlier this year as the market has been sluggish for several months due to the earthquake and the US tariff hike, said Mr Tritecha.

The company is maintaining its presales target of 32 billion baht for 2025, despite recording only 11.9 billion in the first half.

The US dollar remains the world’s leading reserve currency, but recent developments — particularly President Donald Trump’s unilateral economic diplomacy, including weaponisation of the dollar — have fuelled doubts about whether it will maintain that status. While some of America’s geopolitical rivals may hope to displace the dollar, the real challenge facing Asian economies is to manage the vulnerabilities created by their heavy dependence on it.

To be sure, no other currency currently rivals the dollar’s credibility and global reach. While geopolitical tensions and the risk of sanctions have fuelled diversification efforts, the greenback’s international dominance is unlikely to diminish in the near term.

That is not necessarily good news for Asean+3 countries, because their longstanding reliance on the dollar makes them acutely exposed to US monetary-policy shifts and global financial shocks. Asian policymakers must therefore focus on bolstering financial resilience through deeper regional cooperation — not necessarily a euro-style monetary union, but rather pragmatic measures aimed at reducing risks and enhancing strategic autonomy.

For decades, the dollar has underpinned Asia’s trade and financial flows, reflecting both supply-chain linkages and the greenback’s status as a safe haven. In South Korea and Thailand, for example, more than 70% of trade with China and Asean countries is invoiced in dollars. For emerging economies in particular, dollar assets offer unmatched liquidity and reliability, even as they create structural vulnerabilities.

Those vulnerabilities, though, can be severe. US monetary tightening often triggers capital outflows and sharp currency depreciation, leaving borrowers who earn in local currencies and borrow in dollars with higher debt burdens.

This currency mismatch was at the core of the 1997-98 Asian financial crisis, which devastated economies throughout the region, necessitating intervention by the International Monetary Fund.

Asean+3 policymakers today remain keenly aware that Federal Reserve rate hikes could once again destabilise their economies. To mitigate such risks, many countries in the region have amassed large foreign-exchange reserves — mostly in US Treasuries — as a form of self-insurance. These strategic stockpiles reflect both the painful lessons of past crises and the lingering “IMF stigma” that discourages reliance on external bailouts.

The idea of an Asian common currency, which briefly gained traction after the 1997 crisis, has since faded, as the continent’s diverse political systems, economies, and cultures make such an undertaking unfeasible. Instead, attention has shifted to more pragmatic, incremental initiatives.

For starters, advances in digital technology are enabling faster, cheaper cross-border settlements, driving demand for regional payment systems. Asean countries are currently piloting QR-code-based cross-border payment systems, while several central banks in East Asia are exploring distributed ledger platforms for multi-currency transactions.

But these efforts should not remain fragmented pilots. Asean+3 economies must work together to scale up and integrate payment systems, thereby reducing transaction costs and exchange-rate risks in intra-regional trade and tourism.

Another challenge is to reinforce regional financial safety nets. With a lending capacity of US$240 billion (7.8 trillion baht), the Chiang Mai Initiative Multilateralisation provides liquidity to Asean+3 economies facing balance-of-payments crises.

Building on the work of the Asean+3 Macroeconomic Research Office (AMRO), member economies hope to strengthen the CMIM by introducing a Rapid Financing Facility and are considering paid-in capital contributions. Such reforms would make the CMIM more flexible and credible, enabling it to respond more effectively to sudden dollar-related shocks.

Strengthening resilience through regional financial cooperation offers Asian economies a far better path than direct confrontation with the dollar.

To guard against dollar-related shocks, they must build on existing Asean+3 initiatives in three core policy areas.

First, expanding local-currency settlement in trade and investment, especially through bilateral and regional currency swap arrangements, could help reduce vulnerabilities.

Such frameworks — already operational between countries such as Indonesia, Malaysia, and Thailand — have proven effective in lowering transaction costs and mitigating risks.

Second, policymakers should advance the internationalisation of Asian currencies. Wider use of the yen, renminbi, and others in cross-border trade and finance could help reduce currency mismatches, even if none is positioned to replace the dollar globally.

The third priority is to standardise financial platforms and promote interoperability across payment and settlement systems.

AMRO has highlighted the importance of digital financial infrastructure, including fast payment networks, which could complement regional initiatives like Project mBridge and Project Guardian.

Standardisation and interoperability will be key to scaling these systems beyond the pilot stage.

Again, this is not to suggest that Asean+3 should follow in the European Union’s footsteps and adopt a single currency.

But by elevating major Asian currencies, harmonising digital payment systems, and maintaining robust regional financial safety nets, governments can build a more resilient monetary ecosystem.

These measures would complement the dollar rather than replace it, safeguarding Asia’s growth and stability amid deepening global uncertainty. ©2025 Project Syndicate