Category: The Bangkok Post

The 200 billion baht the government plans to use to buy back the concessions of all electric train lines in Greater Bangkok is expected to come from two sources: the Mass Rapid Transit Authority of Thailand and fundraising through an infrastructure fund.

Tibordee Wattanakul, director-general of the State Enterprise Policy Office, said the government plans to raise funds via an infrastructure fund on a gradual basis, with 80 billion baht raised per issue until the targeted amount is reached.

He said he expects investors will be eager to buy fund units given the low risk.

Infrastructure funds often offer average yields of 6-7%, said Mr Tibordee.

Funds raised via the infrastructure fund will not be regarded as public debt, he noted.

The government’s plan to buy back the concessions of all electric train lines for a maximum of 200 billion baht is part of an effort to make public transport more affordable.

Mr Tibordee said the effort would be worthwhile if the government can manage the lines while offering low ticket prices, which should increase passenger numbers.

He said the valuation of 200 billion baht is based on the future cash flow and benefits concession owners would gain during their remaining concession periods.

If the concession buyback takes place in 2027, the remaining concession period for some lines would be shorter, especially the Green Line, as its concession ends in 2029. This could mean the total amount spent on the concession buyback would be less than 200 billion baht, said Mr Tibordee.

Some lines, particularly those on the city’s outskirts, are not profitable. If the state steps in to purchase the concessions, private operators would probably be receptive to a buyback, he said.

The Finance Ministry said earlier a precedent was set with the Thailand Future Fund, which used proceeds from the offering of investment units to invest in state infrastructure assets with the potential to generate income for the fund.

On Tuesday, the cabinet approved a common ticketing scheme for Bangkok’s electric rail services, setting fares between 17 and 45 baht per trip, depending on the distance.

Transport Minister Phiphat Ratchakitprakarn said the move aims to ease the cost of living for commuters by introducing an integrated fare system covering all mass transit lines.

Passengers pay once upon entry and can transfer between rail services.

The government wants to launch the scheme by Jan 1, 2027, he said.

Ministry officials plan to hold discussions on establishing a central clearing house to manage fare collection across different operators.

The system will ensure seamless payments under the single-entry model, Mr Phiphat said.

“The ministry intends to have the clearing house in place for a New Year 2027 rollout,” he said.

Thai national cyclists Methasit Boonsane and Vipavee Deekaballes swept to victory in the men’s and women’s elite downhill events at the 2026 Asian Mountain Bike Championships in Uzbekistan on Wednesday.

Methasit retained his gold medal and won the Asian Championship for the fifth consecutive time, while Vipavee maintained her dominance in the category, winning the Asian title for the 10th time.

Methasit finished the final round with a time of 2:25.099 minutes in the men’s elite downhill event. Japanese cyclists Yuga Ikuta and Tesuma Hakuji took the silver and bronze medals respectively.

In the women’s elite downhill competition, Vipavee did not disappoint after she crossed the line in 2:44.843 minutes. Indonesian Milatul Khaqimah took the silver medal and Naomi Gardoce of the Philippines won the bronze medal.

Gen Decha Hemkrasri, president of the Thai Cycling Association, said, “The two downhill gold medals in the Asian Championships proved that the Thai national team are still No.1 in mountain bike downhill competition. But it is a pity that there is no downhill event in the medals competition at the 20th Asian Games in Japan. Otherwise, the Thai cycling team will have a chance to win gold from these two events.”

The 2026 Asian Mountain Bike Championships are being held in Tashkent, Uzbekistan, from June 23-27.

Apple raised the prices of its Macs and iPads on Thursday, citing the soaring costs of memory and storage chips as the artificial intelligence (AI) boom has created a frenzy for the components.

Apple increased prices on some laptop and tablet models US$200 or more. A base model of the MacBook Pro, for example, now costs $1,999, up from $1,699. Apple’s entry-level laptop, the MacBook Neo, now costs $699, $100 higher than when it was unveiled in March.

The price of an iPad Air increased $150 to $749, while the price of an iPad Pro jumped $200 to $1,199.

The increases show that even Apple, with its sprawling supply chain, is not immune to a global shortage in memory and storage chips. AI chipmakers like Nvidia and Advanced Micro Devices have demanded more of the components for their own chips, which are then used in data centres for developing and running AI systems.

The surge in demand has led memory chip manufacturers like Micron to focus on producing for data centres, which tend to use more expensive chips than consumer electronics. As a result, those companies are making more money but shipping fewer consumer-grade chips, which have become more expensive.

Memory and storage chip prices have quadrupled over the past year, according to analyst estimates, and the cost of those components is expected to continue to rise.

Those costs are now being passed on to consumers. Microsoft raised prices for its Surface laptops in April.

‘We have never seen a component price increase this much, this quickly,’ a spokesperson for Apple said in a statement. ‘We have now reached a point where we need to begin raising prices.’

Apple’s share price fell as much as 6% Thursday.

Apple CEO Tim Cook said during an investor call in April that the company expected ‘significantly higher memory costs’ for the quarter, which runs through June.

‘Beyond the June quarter, we believe memory costs will drive an increasing impact on our business,’ Cook said on the call.

The company also said it expected its profit margins to decline slightly for the quarter.

Apple also raised the prices of its HomePod speaker and its Vision Pro mixed reality headset Thursday.

The timing for the price increases was unusual. Apple typically raises prices when it releases new or refreshed products. In September, Apple released new iPhones and raised the prices for some models $100.

Natural Resources and Environment Minister Suchart Chomklin said Thap Lan land disputes will be resolved through parcel-by-parcel verification to separate residents from land speculators and investors.

He made the remarks after a meeting of the House Committee on Land, Natural Resources and Environment, chaired by Bhumjaithai MP Kunlawalee Nopamornbodi on Thursday. The meeting brought together state agencies, academics, conservation groups and civil society networks to discuss overlapping land claims in Thap Lan National Park in Nakhon Ratchasima province.

Mr Suchart said the meeting was conducted in a constructive atmosphere, with all sides exchanging information and proposals. The core agreement was that land rights must be examined on a parcel-by-parcel basis.

“Everyone agreed that the verification of rights must be done on a parcel-by-parcel basis, transparently and fairly, so that genuine local communities are protected while illegal occupations are dealt with under the law,” he said.

Mr Suchart said the proposed solution was unique to the Thap Lan National Park and would not be used as a precedent for other protected forest areas.

The meeting came after groups of conservationists opposed the June 15 decision by the National Parks Committee to approve the withdrawal of 155,865 rai from Thap Lan National Park and to transfer the land to state agencies, including the Agricultural Land Reform Office, for land-rights management and allocation.

Environmental groups have urged the government to reconsider the plan, as the area includes ecologically significant forest land and wildlife habitat. The environment minister at that time defended the decision, saying the boundary adjustment is intended to resolve overlaps between the park and land allocated by the state to people before the park was established. Around 450 encroachment cases are still in court.

Thap Lan National Park chief Prawatsart Janthep said on Thursday in Nakhon Ratchasima the dispute dates back to the declaration of Thap Lan National Park in 1981, when boundaries were drawn without full field surveys in some areas, resulting in overlaps with existing settlements and land reform areas.

He said surveys indicated about 5,000 occupants had been living in affected areas before the park was established. “The challenge is to identify those who occupied land before the park was declared while preventing later encroachment from being legitimised.”

Gold has entered bear market territory, sliding below US$4,000 an ounce for the first time since November 2025 as rising interest rate expectations and a strengthening dollar weigh heavily on bullion, though local traders argue the dip may not last long.

Siriluck Pakotiprapha, vice-president of research at Hua Seng Heng Futures, said a decline below $4,000 has significant implications for gold, which has tripled in price over the past three years from about $1,800 an ounce in 2023.

The recent pullback, driven by a stronger US dollar, rising real yields and hawkish Federal Reserve signals, has resulted in gold prices tumbling roughly 28-30% from an all-time high of nearly $5,600 per ounce in January this year.

Spot gold was down 0.4% to $3,974.89 per ounce yesterday after hitting its lowest level since Nov 20 on Wednesday.

Traders expect three Fed rate hikes this year and are pricing in a 67% chance of a September increase, according to the CME FedWatch Tool.

The US dollar advanced for a third straight session on Wednesday to hit a 13-month high, making gold more expensive for buyers holding other currencies.

“The market is worried about Fed chair Kevin Warsh’s statement earlier this month about sticky inflation in the US, which has remained above the central bank’s 2% target since April 2021,” Ms Siriluck said.

If gold cannot bounce back to a key support level of $4,500, she said there is a possibility the price could fall further to $3,800, which would be roughly 61,000 baht per baht-weight of domestic gold bar.

Hua Seng Heng, Thailand’s largest gold trader, predicts the next support level for the precious metal at $3,500-3,600 an ounce, or 58,000-59,000 baht per baht-weight of domestic gold bar.

Several major banks have trimmed forecasts. Goldman Sachs reduced its year-end target by $500 to $4,900 an ounce, while Deutsche Bank cut its fourth-quarter estimate by 17%. Outflows from exchange-traded funds (ETFs) have removed a traditional support for prices.

However, Ms Siriluck said the price contraction may not last long, as oil prices have declined significantly, easing inflation in many economies, particularly the US.

“Once inflationary pressure eases, the Fed might adopt a less hawkish stance,” she noted.

Gold prices should bottom out at around $3,500-3,600 an ounce by the fourth quarter, said Ms Siriluck, which is traditionally the peak season for gold buying.

Fundamental support for gold remains, particularly central bank buying and the de-dollarisation trend. Imports from China, the world’s largest gold consumer, remain solid, rising 78% year-on-year to 692 tonnes in the first five months of 2026.

Tipa Nawawattanasub, chief executive of YLG Bullion and Futures, said structural drivers such as persistently high public debt across major economies and rising digital gold demand, including tokenised gold and reserve-like digital assets, underpin support for gold, despite near-term risks from energy-driven inflation and ETF outflows.

Thailand’s corporate bond market contracted during the first five months of 2026 as investors became increasingly selective amid concerns over credit quality, higher funding costs and a fragile economic outlook.

According to Kasikorn Research Center (K-Research), the value of long-term corporate bond issuance totalled 337 billion baht between January and May 2026, down 3.7% year-on-year.

The decline reflects growing investor caution following several high-profile bond defaults in recent years, as well as continued uncertainty surrounding geopolitical developments, Thailand’s subdued economic growth, and elevated bond market yields, said the think tank.

The slowdown has prompted companies to adopt a more conservative approach to fundraising. New issuance has been concentrated in investment-grade bonds, defined as securities rated BBB- or higher, which accounted for roughly 95% of total issuance or 321 billion baht.

Despite the weak start, K-Research expects Thailand’s corporate bond issuance in 2026 to reach 850-890 billion baht, on par with last year and close to the forecast of 900 billion by the Thai Bond Market Association.

“Corporate borrowers are expected to remain active in refinancing maturing debt and securing working capital, although volatility in bond yields will continue to influence issuance decisions,” noted K-Research.

DEFAULT RISK CONCERNS

Market data suggests investor concerns remain concentrated in the high-risk segment rather than spreading across the entire bond market. Demand for investment-grade bonds remains strong, with subscription success rates exceeding 96% of offered value, reflecting investor preference for issuers with solid financial positions and credible repayment capacity.

In contrast, high-yield bonds, including those rated BB+ or below as well as non-rated bonds, continue to face significant fundraising challenges. Subscription rates for these securities have fallen below 60%, “underscoring lingering concerns about default risks and financial stability among weaker issuers”, noted K-Research.

The trend highlights a growing focus on credit quality, resulting in capital flows being directed primarily towards financially strong companies while riskier issuers face higher financing costs and limited market access, said the think tank.

Funding conditions have also become less favourable. Thai government bond yields rose in line with global bond market trends and increased domestic government borrowing. As a result, yields on three-year corporate bonds across all major credit ratings, comprising AAA, AA, A and BBB, have risen by 10-18 basis points compared with the end of 2025.

“The increase in borrowing costs led some companies to postpone bond offerings or raise funds only when necessary,” said K-Research.

FLIGHT TO QUALITY

The centre said the biggest risk facing the market is not widespread contagion, but the refinancing ability of weaker issuers, particularly those that previously underwent debt restructuring. Bonds experiencing debt servicing problems account for 2% of total outstanding corporate bonds. Of this group, roughly 0.2% are already in default, while 1.8% have undergone debt restructuring.

Although restructuring eased short-term liquidity pressures, it does not eliminate credit risk. K-Research estimates restructured bonds worth roughly 4.9 billion baht will mature in the second half of 2026, followed by 12.9 billion baht in 2027.

If issuers fail to restore their financial strength, these bonds could face renewed repayment difficulties. Investors should monitor upcoming maturities among high-yield and non-rated issuers, especially those with fragile balance sheets, weak cash flow recovery, or limited access to new financing, said K-Research.

The International Olympic Committee has approved a revamped bidding process for the 2036 Summer Olympics, introducing a new ‘strategic dialogue’ phase aimed at strengthening host selection and improving long-term planning.

Khunying Patama Leeswadtrakul, Thailand’s IOC member, said the reform was endorsed at the 146th IOC Session in Lausanne, chaired by IOC president Kirsty Coventry.

Under the new framework, prospective hosts will first enter a strategic dialogue phase from March 2027, during which candidate cities must complete questionnaires and provide key financial guarantees before progressing to a final targeted dialogue and evaluation.

The IOC expects to elect the host city for the 2036 Summer Games in mid-2029.

Khunying Patama said the changes build on reforms introduced in 2019 that shifted the Olympic bidding process towards sustainability and greater benefits for host communities, while providing governments and Olympic stakeholders with a clearer timeline and reducing uncertainty.

With the 2028 Olympics taking place in Los Angeles and the 2032 Games scheduled for Brisbane, Australia, the 2036 edition is the next one available.

Interest from Asia

Khunying Patama said several Asian countries have already expressed interest in bidding for the 2036 Games, although no official candidate has yet been confirmed.

Various media reports have identified Hungary and Qatar as possible bidders, as well as Saudi Arabia, Turkey and India.

The 2032 summer Games were awarded 11 years in advance but the 2030 and 2034 winter Games had six and 10 years’ notice, respectively.

That variability stemmed from a very flexible, largely confidential procedure in which the IOC Session only stepped in at the end of the process to ratify the executive board’s choice.

The IOC Session in Lausanne also approved extensions to the memberships of Sebastian Coe and Tricia Smith until the end of their current terms in office.

In addition, Ivo Ferriani was elected an honorary IOC member and, together with Luc Tardif, received the Olympic Order during the session.

Police have drawn widespread praise after swiftly rescuing a man attempting to take his own life by jumping from a pedestrian bridge in Thanyaburi district.

The rescue occurred about noon on Thursday, following an emergency report received by the Pratunam Chulalongkorn police radio centre that a man was attempting to jump from the footbridge on Phahon Yothin Road in tambon Prachathipat.

Pol Col Adirek Photipan, chief of Pratunam Chulalongkorn police station, ordered an urgent response. A patrol unit led by Pol Capt Phanthat Trikon was dispatched and successfully subdued the man, bringing him safely down from the bridge.

Pol Capt Phanthat said the patrol team had just completed an emergency response drill at Robinson Department Store when they received the report.

On arrival, they found traffic police already trying to calm the man by engaging him in conversation while Rangsit municipality was asked to dispatch an inflatable rescue cushion.

After assessing the situation, Pol Capt Phanthat decided there was no time to wait for additional equipment, believing the man was likely to jump if the standoff continued.

He instructed a traffic officer on the opposite side of the bridge to keep the man distracted through conversation. Meanwhile, he crouched low, moved out of the man’s line of sight, crawled toward him, then launched a surprise tackle and safely restrained him.

The 36-year-old man was brought down without injury and taken to Pratunam Chulalongkorn police station for questioning.

The man told officers he no longer wanted to live because he felt rejected by his family.

Initial checks found no evidence of drug involvement, although officers discovered sedative medication in his possession. They believe he may not have eaten or taken his prescribed medication before the incident.

The Pathum Thani Provincial Social Development and Human Security Office has been contacted to provide further care and assistance.

Locals and witnesses praised the police team for their rescue.

A former mayor of Yan Ta Khao Municipality has been sentenced to seven years and six months in prison for using a municipal vehicle for personal purposes and charging fuel expenses to the local authority over nearly a decade.

The Trang office of the National Anti-Corruption Commission (NACC) said on Thursday that the Region 9 Criminal Court for Corruption and Misconduct Cases had convicted Wutthichai Sunthornnon and ordered him jailed without suspension.

The NACC had previously found grounds to pursue criminal and disciplinary action against Mr Wutthichai and referred the case to public prosecutors.

According to the court, Mr Wutthichai regularly used a municipal Toyota Fortuner assigned to the municipality as his personal vehicle while serving as mayor. The vehicle was used for travel between his home and office and was often parked near his residence rather than at municipal facilities.

The court also found that the vehicle was used to attend social functions, traditional ceremonies and other non-official activities.

Fuel expenses arising from the vehicle’s use were repeatedly reimbursed from the municipality’s budget, resulting in losses of 976,949.30 baht. The damages comprised 47,361 baht between 2011 and 2012, 928,588.30 baht between 2012 and 2021, and a further 1,000 baht between 2021 and 2023.

The court ruled that the conduct amounted to the misuse of state assets for personal benefit and violated regulations governing the use of official vehicles by local administrative organisations.

People’s Party list-MP Parit Wacharasindhu on Friday disclosed additional evidence in the Senate election collusion case, starting with testimony collected in Nakhon Phanom province.

Mr Parit, also the opposition chief whip, said that an Election Commission investigative panel had already found sufficient grounds to implicate 229 accused individuals, with evidence that he claimed was stronger and more conclusive than in previous election-related cases.

If the EC dismissed these cases despite such evidence, questions would inevitably be raised about its impartiality, said the opposition MP, who spoke at the Future Forward Building in Bangkok on the second anniversary of the Senate election.

Multiple investigations have been taking place into alleged irregularities in the three-stage Senate election that concluded on June 26, 2024. The final poll produced highly unusual results, notably a disproportionate number of winners from provinces where the Bhumjaithai Party is strong electorally.

The People’s Party has gathered evidence from several provinces, supplementing publicly available information with testimony from witnesses who had appeared before the EC’s investigation panel.

While acknowledging that the party did not have access to the full case file, Mr Parit argued that if its own findings were already compelling, evidence held by the EC, the Department of Special Investigation (DSI) and an investigative panel should be even stronger.

He said the party would gradually disclose evidence from provinces across the country, beginning with the northeastern province of Nakhon Phanom, where it had compiled five key pieces of evidence.

The first was a video featuring Supachai Phosu, a former Bhumjaithai MP for Nakhon Phanom, speaking at a traditional baisri sukhwan ceremony on Aug 17, 2024, to celebrate the election of Sithikorn Khongyos as a senator.

In the clip, Mr Supachai referred to Mr Sithikorn and two other senators from Nakhon Phanom as members of the ‘blue faction’, a term widely associated with the Bhumjaithai Party.

‘Blue-line senators’

Mr Supachai said in the clip that he was proud to publicly identify the three as ‘blue-line senators’, adding that blue symbolised loyalty to the monarchy and that there was no reason to conceal such affiliation.

He also praised Mr Sithikorn as someone who had consistently supported his political activities over many years, saying that although he could no longer formally belong to Bhumjaithai because senators are prohibited from party membership, he still belonged to the ‘blue’ camp.

Mr Parit said the remarks demonstrated Mr Supachai’s close relationship with the three senators and reflected the existence of organised political factions within the Senate. Although Mr Supachai described himself merely as a supporter, witness testimony suggested he may have played a more active role.

The second piece of evidence concerned a meeting allegedly held at a hotel in Ayutthaya province on June 24-25, 2024, shortly before the Senate election.

According to witness testimony, the gathering included Senate candidates, Mr Supachai, the three eventual senators from Nakhon Phanom and an academic identified only by the initial ‘Por Pla’, who was allegedly involved in preparing voting lists.

Recommended candidates

Witnesses claimed that recommended candidate lists were drafted on the back of Senate election documents for use during both morning and afternoon voting sessions.

According to the testimony, some candidates became dissatisfied after discovering their own numbers were absent from the lists and questioned whether they would ultimately receive support.

One individual who later became a senator allegedly reassured them that candidates from other provinces would vote for them and promised 300,000 baht in cash to anyone who failed to secure sufficient votes.

Mr Parit also alleged that when discontent escalated, Mr Supachai privately negotiated with some candidates, offering Senate assistant positions on a rotating basis if they failed to win election.

They were allegedly instructed to sign undated resignation letters in advance, while being warned that CCTV footage of the meeting had been recorded, which he described as indirect intimidation.

Mr Parit said his team had inspected the hotel and confirmed that it was equipped with numerous security cameras capable of identifying attendees. He also noted that the property owner belongs to the family of a local politician.

Nine plane tickets

The third piece of evidence was an airline booking allegedly made by one of the future senators from Nakhon Phanom, who reportedly purchased air tickets for nine other people. The party said it possessed flight details and ticket prices.

The fourth concerned a gathering at a concrete mill in Nakhon Phanom on June 20, 2024, about one week before the Senate election.

The fifth and final piece of evidence was an audio recording purportedly featuring a senator from Nakhon Phanom discussing benefits with another local leader.

In the clip, the speaker allegedly discussed paying travel and accommodation expenses, persuading successful Senate candidates to help ‘block’ positions, and offering Senate assistant posts with salaries as rewards.

‘We’ve already paid for everyone’s flights. The Nakhon Phanom group’s airfare and hotel expenses have all been arranged,’ the male voice says in the recording.

‘If we don’t lock this down, we won’t be able to compete with them. I’ve seen people abandon their parents, but I’ve never seen anyone abandon money.’ Mr Parit said the audio and supporting evidence indicate systematic coordination across provinces, involving financial incentives, logistical arrangements, and promises of positions. He urged the EC to consider all evidence collectively rather than in isolation.

Now two years since the Senate selection, he said sufficient time has passed for the EC to act decisively. He maintained that any additional evidence in the party’s possession could be submitted if needed, though he believed the EC and DSI already hold comprehensive information.

He also emphasised the importance of corroborating witness testimony with other evidence, including travel records and CCTV footage, which authorities could further investigate

He added that more disclosures from other provinces are forthcoming, as the party continues to compile evidence.

He reiterated that all 229 individuals identified by the investigation panel should be referred to the court, as they have already undergone preliminary screening indicating grounds for wrongdoing.

Earlier, a group of reserve Senate candidates and an election inspector had submitted fresh evidence to the opposition, alleging misconduct by election authorities in the 2024 election.

Pol Col Manas Nakornsri, an election inspector for Samut Prakan, alleged that an EC investigative subcommittee had previously found grounds to pursue cases against 229 individuals, including 136 sitting senators, over alleged collusion.