Category: The Bangkok Post

Thailand’s ageing population is raising concerns over retirement security, with 17.3 million “near-retirement” workers facing a high risk of insufficient savings to support them in old age, according to the National Savings Fund (NSF).

The warning is based on data from the National Statistical Office’s survey on the socio-economic conditions of households and a report by the Thailand Development Research Institute (TDRI).

The NSF said the number of workers aged 46-60, described as the near-retirement group, reached 17.3 million in 2024, accounting for 39% of the working- age population.

Among them, 41.6% were self-employed or owned businesses, meaning they were largely responsible for building sufficient retirement savings over the next 10-15 years.

According to the NSF, rising costs of living have widened the gap between household expenses and savings.

In 2024, this age group spent an average of 8,362 baht a month while those aged 61-70 spent about 7,603 baht. However, the government’s old-age allowance starts at 600 baht per month and covers only 7.9% of the average monthly expenses.

The NSF said old people who live alone face higher living costs than those living with family members. Average monthly expenses for the former demographic reached 10,087 baht because they cannot share housing, food or transport costs with others.

It said the average monthly savings for people aged 46-60 stood at 4,416 baht, making them financially vulnerable as retirement approaches.

Based on the NSF’s estimates, a person who begins saving at the average rate at age 46 would have enough money to cover their living expenses for only about 6.6 years after retirement.

Those who start at age 50 would have savings lasting about 5.1 years, while people beginning at age 55 would only have enough to survive financially for another 2.8 years.

The NSF urged self-employed workers to join the voluntary retirement savings system to ensure they have sufficient savings for old age.

Ratchanok Intanon survived another three-game test to advance to the quarter-finals of the US$2 million BWF China Open on Thursday.

The Thai seventh seed overcame Nguyen Thuy Linh of Vietnam 17-21, 21-16, 21-15 to join mixed doubles pair Dechapol Puavaranukroh/Supissara Paewsampran in the last eight of the Super 1000 tournament in Changzhou.

The 27th-ranked Thuy Linh stunned Ratchanok in the first round of last year’s world championships in Paris and the Vietnamese player threatened to cause an upset again after taking the first game against the seventh-ranked Thai star.

Ratchanok, however, turned things around to win the second and third games and earn her place in the last eight after a one-hour contest.

Ratchanok will face China’s Chen Yufei in the quarter-finals. Chen also needed three games to defeat Japan Open champion Pusarla V Sindhu of India, 16-21, 22-20, 21-18 yesterday.

Chen, who is seeded fourth this week, is contesting her home event from position 1 in the women’s singles draw following the withdrawal of injured world No.1 An Se-Young.

In the mixed doubles last 16, fourth seeds Dechapol and Supissara defeated All England Open champions Ye Hong Wei and Nicole Gonzeles Chan 21-19, 21-11 in just 33 minutes to make it their eighth straight win against the Taiwanese pair.

They will face Japan’s Yuta Watanabe/Maya Taguchi in the quarters after the Japanese pair defeated China’s eighth seeds Cheng Xing/Zhang Shi 21-15, 21-13.

Women’s doubles players Benyapa Aimsaard/Nuntakarn Aimsaard also reached the quarter-finals as they knocked out sixth seeds Kim Hye-Jeong/Kong Hee-Yong of South Korea 21-19, 21-9. The sisters will face top seeds Liu Shengshu and Tan Ning next.

Mixed doubles pair Pakkapon Teeraratsakul and Sapsiree Taerattanachai bowed out, losing to sixth seeds Tom Gicquel and Delphine Delrue of France 21-11, 21-19.

Men’s singles hope Panitchaphon Teeraratsakul’s challenge against top-ranked Shi Yuqi ended after the Thai rising star retired in the third game after reportedly feeling dizzy.

Women’s singles player Busanan Ongbamrungphan also bowed out, losing to sixth seed Putri Kusuma Wardani of Indonesia 21-17, 21-14.

The Renewable Energy Industry Club under the Federation of Thai Industries has called on the government to allow renewable power producers with expired adder tariffs to sell electricity to businesses, which require vast amounts of clean energy.

The adder tariff was introduced to encourage investment in renewable energy by adding extra charges to electricity prices.

However, the scheme was criticised for driving up electricity costs for households and businesses.

Although the tariff has expired, companies are still permitted to sell electricity to the government at wholesale prices, which adds financial pressure on consumers.

Club chairman Natee Sithiprassana said companies with expired adder tariffs should no longer sell electricity to the government, instead supplying businesses directly.

These businessed are in digital, electronic, car, aluminium, steel and food industries.

He said whether this proposal will be implemented depends on negotiations.

Firms with expired adder tariffs have a combined generation capacity of 2,596 megawatts.

Mr Natee’s suggestion comes as the government is pushing ahead with a pilot direct power purchase agreement, which allows renewable power companies to sell electricity directly to data centres. Peer-to-peer power trade is prohibited in Thailand.

The government introduced the adder tariff in 2006 as part of efforts to expand renewable energy supply.

The National Energy Policy Council (NEPC) applied the tariff to renewable power purchases from small and very small power producers.

Rates varied from 0.3 to 6.5 baht per unit depending on the type of renewable energy, with solar power receiving the highest rate of 6.5 baht per unit, according to energy advocacy group JustPow.

The tariff was applicable for 7-10 years, with solar projects benefiting for up to 10 years.

According to JustPow, even after the adder tariff expired, companies retain the right to sell electricity at wholesale prices, which are automatically renewed every five years until their facilities retire.

Industry sources noted earlier that producers can still sell electricity at high prices because they benefit from a wholesale tariff of 3.78 baht per unit plus the fuel tariff, with both included in the final rate.

In 2014, the NEPC decided to end the adder tariff incentive, replacing it with a feed-in tariff for new renewable projects. However, companies with expired adder tariffs continue to sell electricity at wholesale prices.

JustPow research found 522 out of 566 renewable energy projects still enjoy this privilege.

Twelve Chinese nationals were arrested after allegedly crossing illegally into Thailand from Myanmar and attempting to hide in a cornfield in the Mae Sot district of Tak province.

The arrests followed a tip-off from residents of Mae Kon Ken village in tambon Maha Wan, who told authorities they saw a number of people jump from a pickup truck and flee into a banana grove beside the road linking Huai Phak La village in tambon Mae Ku with the Thai-Myanmar border near Mae Kon Ken village.

The locals immediately notified village leaders, who coordinated with territorial defence volunteers, border patrol police, soldiers and local police to search the area.

The suspects, who were later found to be Chinese nationals, were tracked to a cornfield near Pha Kwan village, close to Mae Kon Ken village.

Authorities said the location was opposite Dongmei Park on the Myanmar side of the Moei River, near the Thai border. The area is known for investments by the Dongmei Group and has been linked to scam syndicates operating in Myawaddy township in Myanmar.

Five Chinese nationals were found in the cornfield while others fled and scattered along the Moei River. Another suspect was later found walking along a road in tambon Mae Ku and additional search operations along the border led to the arrest of the remaining Chinese nationals. A total of 12 people were caught.

An inspection found that 11 of the detainees had no identification documents, while only one possessed travel documents.

During questioning, all 12 admitted they had illegally crossed the border from Myanmar into Thailand.

They were charged with illegal entry and crossing the border via an unauthorised checkpoint. All were handed over to Tak immigration officers for further investigation and legal proceedings.

The Thai banking industry recorded virtually no growth in net profit for both the second quarter and the first half of 2026, as geopolitical tensions and a sluggish domestic economy weighed on performance.

The 11 banks listed on the Stock Exchange of Thailand (SET) and their subsidiaries reported combined net profit of 66.3 billion baht in the second quarter, up just 0.02% year-on-year. For the first half of the year, the industry posted total net profit of 135 billion baht, a marginal increase of 0.09%.

The flat earnings growth reflected economic headwinds stemming from Thailand’s weak economic expansion and the ongoing conflict in the Middle East. Two of the country’s largest lenders — Bangkok Bank (BBL) and SCB X, the holding company of Siam Commercial Bank — reported double-digit declines in net profit for both the second quarter and the first half of the year.

BBL, the country’s largest lender by total assets, reported second-quarter net profit of 9.49 billion baht, down 19.8% year-on-year. Net profit for the first six months of the year totalled 20.5 billion baht, a decline of 16.2%.

Meanwhile, SCB X posted second-quarter net profit of 11.1 billion baht, down 13.1% year-on-year, while first-half net profit fell 15.7% to 21.3 billion baht.

According to SCB X’s financial statement filed with the SET, the decline in net profit was driven by softer net interest income following multiple policy rate cuts. The group also reported subdued loan growth at both SCB for its Gen 1 business and its consumer lending business under Gen 2 subsidiaries. In addition, investment income declined due to unfavourable and volatile market conditions.

Arthid Nanthawithaya, chief executive of SCB X, said in the statement Thailand’s economy continued to face pressure in the second quarter from an uncertain environment, with an uneven recovery and persistently high household debt.

“Against this backdrop, SCB X remains committed to quality growth across the group. We believe supporting our customers and business operators through this challenging period is part of helping the country’s economy recover sustainably,” he said.

Krungthai Bank’s (KTB) statement noted the Thai economy was adversely affected by the war in the Middle East during the first half of the year.

Looking ahead, KTB expects Thailand’s economy to expand below its potential in 2026. The outlook is clouded by uncertainty surrounding the Middle East conflict, while damage to oil infrastructure and disruptions to global supply chains are expected to take time to normalise.

The gradual pass-through of higher production costs is likely to result in broader price increases, keeping both the cost of living and production costs elevated.

The bank said the Thai economy continues to face structural challenges, including high debt levels that constrain household consumption and the limited ability of some businesses, particularly small and medium-sized enterprises, to adapt to rising economic volatility.

Sometimes you don’t have to wear athleisure to stretch. The latest campaign from Damson Madder features models folding, stretching and lunging across the city, yet somehow making it still look mature.

The London-born label’s latest summer drop arrives with a campaign that proves you do not need fairy wings, rabbits or a countryside picnic to channel whimsy.

Surprisingly, the collection also marks a quieter chapter for the brand founded six years ago by Emma Hill. Gone are the riotous colour clashes and signature flashes of bright red stitching that have become synonymous with Damson Madder.

In their place is a more muted palette, interrupted only by the occasional dopamine hit – a pair of faux croc-effect yellow flats that practically demand to be photographed.

It is a bold move at a time when every other summer collection seems convinced that brighter automatically means better. Where neon aquamarines and pinks scream for other brands, Damson Madder cartwheels through in nonchalant black.

The beauty of the collection seems to lie in how wearable it all feels. Striped tees, layered trousers and playful outerwear are made for mixing, matching and repeating. They’ll look just as convincing on a coffee run as they do after you’ve accidentally turned ‘I’ll just stay for one drink’ into a midnight commute home.

Of course, it would not be Damson Madder without a fabric that steals the conversation. This season, that honour goes to a polka-dot material that looks almost waterproof, making appearances on raincoats, hats, bags and trousers. Whether it actually repels rain is another story, but aesthetically, it is already winning.

And for anyone dressing in Thailand’s current blend of blazing sunshine followed by a biblical downpour 20 minutes later, the collection feels oddly appropriate. If the weather refuses to commit, your wardrobe may as well have some fun with it.

The latest Damson Madder drop is now available through the brand’s website and selected retailers worldwide.

A photograph appearing to show a crocodile lurking in floodwater at a school in Sattahip district sparked a frantic search on Thursday involving rescue workers, police and local officials, only for a student to later admit he had created the image using artificial intelligence.

The incident unfolded after a teacher reported that a photo of a crocodile floating near the library of Singsamut high school had been widely shared on social media and in the school’s Line chat group.

The image appeared convincing because the area had been flooded by heavy rain the night before, raising fears that a crocodile might have entered the campus and pose a danger to students and nearby residents.

Rescue workers from the Sawang Rojanathammasathan Sattahip Foundation, joined by police and municipal officials, cordoned off the area and launched a search. More than 10 personnel spent about 30 minutes combing through standing water and inspecting potential hiding spots, but found no sign of the reptile.

The mystery was solved after teachers contacted a Matthayom 5 (Year 11) student, who was traced as the source of the image.

Arriving at the scene, the student apologised and admitted he had used AI to add a crocodile to a real photograph taken at the school. He said he had shared the edited image with friends as a joke and did not expect it to spread across social media or be mistaken for a genuine sighting.

The student said he had acted without thinking and never intended to cause disruption or concern.

The false alarm also drew the attention of Thanatharn Pramoonpong, a People’s Party MP for Sattahip, who travelled to the school after hearing reports of a crocodile sighting.

He said he appreciated the student’s willingness to admit what he had done and thanked all agencies involved in responding to the incident.

Sattahip officials and rescue workers urged the public to verify the source and credibility of images and information before sharing, especially AI-generated content, to avoid causing public panic and wasting resources on investigations triggered by false reports.

BG Pathum United have moved to shore up their fragile defence with the signing of Uruguayan Yeferson Quintana from Brazilian side Paysandu, the club confirmed.

The towering 196cm centre-back, who began his career at boyhood club Penarol in 2016, has since had loan spells at San Jose Earthquakes, Cerro Largo, Danubio and Racing Ferrol before joining Defensor Sporting in 2022. He moved to Brazil in 2024, turning out for Portuguesa before Paysandu.

“I am very happy to join the team and have the opportunity to wear this shirt,” Quintana, 30, said. “I can’t wait to get on the pitch and fight for everyone, and for this club’s crest. I will do my absolute best to take this club to its destination. See you at the stadium — I will wear this shirt and play with immense pride.”

Elsewhere, PT Prachuap FC have completed a striking coup, securing former England international Andros Townsend from Kanchanaburi Power.

Prachuap head coach Sasom Pobprasert admitted the move had come as a surprise even within the club.

“It is quite a surprising deal, because we are not a big team that a player of his calibre would ordinarily consider,” he said. “Credit must go to our chairman, Songkiat Limarunrak, who negotiated with the player’s agent just a week before the deal was finalised.”

Sasom added that Townsend’s experience would benefit Prachuap’s younger players. Townsend, who recently worked as a pundit at the 2026 World Cup, is expected to join the squad around July 25.

Meanwhile, the Football Association of Thailand has confirmed the fixture list for the 2026-27 Thai League 2 season, which begins on Sept 4. The campaign comprises 34 matches per club.

The opening match will see Uttaradit host Muang Thong United, while Kanchanaburi Power — now under former Vietnam coach Park Hang-Seo — travel to face PT Satun on Sept 6.

Tyson Fury declared he feels “at peace with everything” as he addressed the media on Wednesday ahead of his heavyweight bout against Mariusz Wach, which takes place tomorrow (Friday) at the 1,500-seat Max Muay Thai Arena in Pattaya.

The press conference, held at the Amelia Hotel Pattaya, officially launched the event, promoted by Gold Star Promotion and sanctioned by the World Boxing Council (WBC).

The contest serves as Fury’s return to the ring before a proposed showdown with Anthony Joshua later this year, with the newly created WBC Humanitarian Title also on the line.

Fury revealed that the opportunity to fight in Thailand came after a planned Aug 1 bout in Dublin was replaced by an event that offered something more meaningful.

“It’s a special moment to be out here in Thailand,” said Fury. “I’ve been here since December. Beautiful place, beautiful people. I feel at peace with everything. I think I thrive better in warmer climates. I feel rejuvenated.

“I was supposed to box in Dublin on Aug 1, but an opportunity arose to fight here for a good cause as well. I did my own research and found the Father Ray Foundation. It means a lot to me to give back to such an unbelievable charity.”

Fury also acknowledged the unusual setting for a heavyweight star of his stature.

“I’m happy to do a fight over here in Thailand, taking over a boxing show. Which other heavyweight world champion would do a performance in a 1,500-seat arena in Pattaya? Do you think David Beckham or someone famous like that would do it? No way.”

Despite the attention surrounding a potential clash with Joshua, Fury insisted his full focus remains on the experienced Polish veteran standing across from him.

“This is a dangerous fight,” Fury said. “Mariusz is the same weight as me, the same size as me. He’s had the same amount of fights, if not more. He’s been in with elite-level champions. Mariusz would beat Joshua’s opponent, whoever he is. This man is a real fighting man.”

Fury dismissed any suggestion that Friday’s contest is merely a stepping stone.

“This is my show and I’m not interested in what’s happening elsewhere with Joshua. What happens before Friday is none of my concern. What will be, will be, and what won’t, won’t. If it happens, God willing, good. If it doesn’t, good.”

Thailand will hold talks with Myanmar leader Min Aung Hlaing next month on cross-border environmental and security issues, including toxic contamination in the Kok River, agricultural burning and narcotics production, Prime Minister Anutin Charnvirakul said on Wednesday.

Speaking in Chon Buri after returning from an official visit to China, Mr Anutin said environmental protection featured prominently in his discussions with Chinese leaders, including green economic development, clean energy and environmentally friendly manufacturing aimed at reducing greenhouse gas emissions.

He said the government remained committed to tackling environmental issues, including contamination in the Kok River, which authorities have been monitoring closely.

Mr Anutin said Myanmar’s president, Min Aung Hlaing, is scheduled to make an official visit to Thailand on Aug 3-4. During the visit, Thailand will raise concerns over toxic pollutants in the Kok River and seek Myanmar’s cooperation in addressing the problem.

The Kok River originates in Myanmar before flowing into Thailand, making cooperation between the two countries essential. He said measures to combat transboundary haze caused by agricultural burning, drug production and trafficking are also expected to be discussed.