AI bubble fears, US rate outlook subdue bourses

Most Asian equities declined on Friday at the end of a volatile week, amid mixed signals from the US Federal Reserve about the interest rate outlook, while tech-heavy markets fell on worries about stretched AI company valuations.

The SET index moved in a range of 1,283.13 and 1,317.48 points this week, before closing on Friday at 1,302.91, down 0.5% from the previous week, with daily turnover averaging 33.54 billion baht.

Retail investors were net buyers of 2.85 billion baht, followed by foreign investors at 1.45 billion. Institutional investors were net sellers of 2.72 billion baht, followed by brokerage firms at 1.59 billion.

NEWSMAKERS: China’s exports unexpectedly fell 1.1% year-on-year in October, marking the first drop in since February. The decline came after months of frontloading US orders to beat tariffs, in a stark reminder of the country’s reliance on American consumers even as it woos buyers elsewhere.

Thousands of domestic flights are being cancelled across the US as the government orders a 10% reduction of flights at 40 major airports on safety grounds. Thousands of air traffic controllers have been working without pay since Oct 1 because of the longest government shutdown in history. Many are reporting stress or calling in sick, worsening the problem.

President Trump announced a cut in the “fentanyl tariff” on Chinese imports to 10% from 20%, bringing down the overall tariff rate for many goods to 47%, effective Nov 10. Washington says China has been making progress in curbing the flow of fentanyl and chemical precursors into the US.

China has suspended an additional 24% tariff on US goods for one year, also from Nov 10, but will maintain a 10% tariff rate, and has cancelled tariffs on certain US agricultural products, previously at up to 15%.

Trump has banned sales of Nvidia’s Blackwell advanced AI chip to countries outside the US, including China, but may allow exports of a scaled-down version, reflecting strict AI technology controls.

China introduced new regulations requiring government-supported data centres to use domestically produced AI chips, in a move viewed as positive for Asian and Chinese semiconductor sales.

US Supreme Court judges appeared sceptical on Wednesday about Trump’s use of emergency powers to impose sweeping global tariffs, raising investors’ hopes that the judges would order them revoked. A ruling is not expected until June, unless the court decides the issue needs a more urgent resolution.

Federal Reserve governor Stephen Miran said US monetary policy remains restrictive and that he would continue to advocate for outsize interest-rate cuts. San Francisco Fed chief Mary Daly said officials should “keep an open mind” about a December reduction.

The payroll processing company ADP estimated that US private-sector businesses added 42,000 jobs last month, exceeding market expectations and marking the first increase since July.

The employment consulting firm Challenger, Gray and Christmas reported 153,074 US layoffs in October, nearly triple the figure of the previous year and the highest in 20 years, amid rising cost pressures.

The Bank of England held interest rates at 4% in a tight vote that laid the groundwork for a December cut. It said September inflation of 3.8% was “likely to be the peak”, but it wanted to be certain prices were trending downward before making a cut.

Japan and the US have agreed join forces to extract rare earths in the waters around a small island in the Pacific, as they seek to cut their reliance on China for the critical minerals, Prime Minister Sanae Takaichi said.

A US judge dropped criminal charges against Boeing over deadly crashes of its 737 Max 8 aircraft as the company agreed to pay $1.1 billion in return for dismissal of a charge of “conspiracy to defraud” the US over its conduct in the certification of the troubled passenger jets.

China’s manufacturing purchasing managers’ index (PMI) dropped more than expected to 50.6 in October from a six-month high of 51.2 in September. New export orders fell at the quickest pace since May.

Japan’s Financial Services Agency has endorsed a project by the country’s three largest banks to jointly issue stablecoins, Finance Minister Satsuki Katayama said.

Opec+ agreed to a ninth monthly increase in crude oil production in December of another 137,000 barrels per day, followed by a temporary halt to increases in the first quarter of 2026.

Toyota raised its operating income and net profit forecasts for the current fiscal year ending in March 2026. The Japanese carmaker now expects operating income of ¥3.4 trillion ($22.1 billion), up from its previous forecast of ¥3.2 trillion.

The struggling Japanese automaker Nissan posted a 61% year-on-year rise in operating profit to ¥51.5 billion ($341.5 million) in the July-September quarter, as efforts to reduce fixed costs as part of its turnaround plan bore fruit.

Malaysia kept interest rates unchanged at 2.75% as the central bank remained confident that the economy can weather US tariffs without the rate relief that has swept across Southeast Asia.

Thailand’s economic cabinet has approved in principle a plan to buy back 122 billion baht worth of small loans from 3.5 million people, aiming to ease the country’s crippling household debt problem, Finance Minister Ekniti Nitithanprapas said.

The Bank of Thailand said the economy slowed in the third quarter from the three months earlier, but recovery began in September and is expected to continue in the last three months, driven by rising industrial production, electronics exports, tourism and domestic demand helped by the co-payment stimulus programme.

The government said it expected to launch a second phase of the popular Khon La Khrueng co-payment programme, likely in late December just before the scheduled expiry of the first phase.

Headline inflation in Thailand declined 0.76% in October from a year earlier, following a fall of 0.72% in the previous month, the Ministry of Commerce said. Core inflation excluding food and energy prices rose 0.61%.

The finance ministry has ordered the Bank for Agriculture and Agricultural Cooperatives (BAAC) to set up its own asset management company to purchase bad debt from farmers. It targets 100,000 farmers with a total debt size of 8 billon baht.

The Small and Medium Enterprise Development Bank expects to provide loans to SMEs totalling 75 billion baht this year, around 25% higher than last year. In the first nine months, it lent 57 billion baht, up 35.6% year-on-year.

The Joint Standing Committee on Commerce, Industry and Banking has raised its export growth projection for 2025 to between 9.5% and 10.5%, from 2-3% earlier. However, it said the impact on overall economic growth would be limited as many of the exports contained little value-added or were transshipped.

The cabinet approved Thailand’s bid to host the MotoGP World Championship for another five years (2027-31) with a budget of 4 billion baht. The event, held in the Bhumjaithai Party stronghold of Buri Ram, is expected to generate 25 billion baht in economic value.

Foreign tourist arrivals in the week to Nov 2 totalled 644,179, up 9% from the week before and driven by non-Chinese tourists, indicating a recovery after bottoming out in the second quarter. As Thailand enters the high season, cumulative 2025 arrivals reached 26.9 million, down 7.2% year-on-year.

The Energy Policy and Planning Office has approved in principle a community solar farm programme, with up to 10 megawatts per community for a total of 1,500MW. Power will be purchased at no more than 2.25 baht a unit under 25-year contracts.

COMING UP: On Monday, Japan reports current account data and the British Retail Consortium updates retail sales. On Tuesday, the UK releases unemployment figures and China reports new loans. On Wednesday, Germany announces October inflation, Opec releases its monthly oil market report and euro zone finance ministers meet. On Thursday, the UK announces GDP and trade figures, the US releases inflation for October and and China updates industrial production. On Friday, the EU updates economic forecasts and the eurozone announces quarterly GDP.

STOCKS TO WATCH: Finansia Syrus Securities expects the Thai stock market to face short-term pressure from external factors, including high valuations in the tech sector and renewed worries about US employment. It recommends focusing on domestic and consumption-driven stocks with strong earnings potential. Top picks for November include CPAXT, GFPT, ICHI, KTB and MTC.

InnovestX Securities sees potential positive factors, including new stimulus measures and the final phase of earnings announcements. However, political uncertainty may delay economic policy implementation, while growing concerns over possible bubbles in global equity markets, particularly among AI-related stocks, could trigger panic selling. InnovestX’s top stock picks are MTC, CPALL and GULF.

TECHNICAL VIEW: Finansia Syrus Securities sees support at 1,280 points and resistance at 1,320. InnovestX Securities sees support at 1,275 and resistance at 1,350.

A Mediterranean union

In 1993, multi-instrumentalists Fain Sanchez Duenas and Vincent Molino from Spain formed Radio Tarifa with singer/songwriter Benjamin Escoriza and released Rumba Argelina, an album that blended Flamenco, Arab-Andalusian, Arabic, Moorish and Mahgrebi music with that from the Renaissance, Mediterranean and even the Caribbean.

The music was extraordinary. It was revolutionary in the sense the musicians researched the background to many of these styles and genres, but instead of merely blending them all together to recreate the past, they combined the past (pre-1492, prior to the expulsion of the Moors and Jews from southern Spain) with their own melodies; and while they used some ancient instruments, they also added electric bass and saxophone.

The album was a huge success and the band toured internationally.

The name Radio Tarifa is derived from an imaginary radio station — Tarifa is a small town in Cadiz province of Andalusia. Importantly, the band’s commitment to research revealed some of the musical styles that existed before 1492, especially the roots of flamenco.

The band disbanded in 2006 (the last release was a live album in 2004) and then in 2012, singer Escoriza died.

With the loss of such a talent, it would not have been surprising if the band had never recorded again, but Duenas and Molina are not done yet. Radio Tarifa is back with a new album, La Noche on the UK-based record label World Circuit, which is No.1 in the Transglobal World Music Chart for November.

The 14-track album opens with the title track, which features the gruff voice of Escoriza (taken from an old studio recording) on a moving song about pursuing love in the city. It is the only song that features the late singer — the rest of the album’s tracks are shared with nine different singers. The opener segues into a flamenco tango rhythm on Me Preguntas sung beautifully by flamenco singer Javier Castrillon, who is also outstanding on another flamenco song, Tarantos.

Duenas features on his original song Luz, which means to fight and is about having the courage to stand up and make a difference; Duenas provides all the vocals and plays all the instruments.

The album also breaks out of the region to explore other music and places. A song from Brittany, La Nina Del Almendro Viejo, pops up with the superb Spanish folk singer Blanca Paloma adding vocals.

One of my favourites is the Greek-style song Ay Ojos Negros (Ah Black Eyes) which is transformed using Spanish vocals, cello and lilting guitar; the song pairs with another Greek tune, Sabah, which is a feel-good groove about having a good time (naturally, with a nod to ouzo).

Moving easily across the Mediterranean, the band alights in Italy for a medieval tune from the 14th century, Quel Sol Che Raggia, which is superbly sung by Blanca Paloma.

Perhaps the surprise of the album is the well-known Japanese song Sakura, which is given the flamenco guitar treatment, along with Japanese koto (a zither), banjo and lovely vocals from Mizuki Wildenhahn. Close your eyes and you can imagine the cherry blossoms falling.

The list of instruments for this fascinating album includes not only the usual flamenco guitar but also bouzouki, gaita (bagpipes), guimbri, argul and the wonderfully named crumhorn.

Music fans had no real indication that Radio Tarifa would ever record again, so La Noche is a real treat for fans of southern Spanish music and its history. The surviving members of the band have picked up where they left off and taken the music on. Hopefully, we will see them perform again on international stages.

Readers may remember mention of another album released this year by the Al Andaluz Project, The Songs Of Iman Kandoussi: Traditional Arabic Andalusian (Galileo Music Communication). This album explores the Arabo-Andalusian repertoire and the influence Andalusian culture has had on music in North Africa, and it perfectly pairs with Radio Tarifa’s new release. These two albums give the listener an insight into the music of southern Spain and North Africa (especially Morocco). Both albums are highly recommended.

Government moves to avert 2011-style flooding

The government has assured the public there would be no repeat of the 2011 floods, citing coordinated water management and readiness for tropical storm Kalmaegi despite major reservoirs nearing capacity.

Heavy rain has been forecast for the North, Northeast and Central Plains until Sunday, as Kalmaegi was expected to weaken to a tropical storm and move over Laos before reaching Ubon Ratchathani at some point on Friday.

Rainfall of 35-90mm was expected across the North, Central Plains, East, South, and Greater Bangkok.

Agriculture Minister Thamanat Prompow said on Friday after an inspection trip in Pathum Thani that there would be no recurrence of the 2011 floods as water releases were proceeding according to plan under the Royal Irrigation Department’s supervision.

He said that relevant agencies under the ministry were instructed to accelerate water releases through the Chao Phraya dam to create capacity for new inflows and minimise impact on farmers and local communities.

Energy Minister Auttapol Rerkpiboon said that water releases from the Bhumibol and Sirikit dams in the North were being carefully managed ahead of expected heavy rainfall, in coordination with the Office of the National Water Resources (ONWR), the RID, and other agencies.

The Bhumibol dam, holding 13.2 billion cubic metres of water (98% of capacity), is expected to receive an additional 400 million cubic metres from tropical storm Kalmaegi. Its daily discharge will increase to 30, 40, and 45 million cubic metres to prevent water levels downstream from rising more than 20 centimetres.

MPs slam PM’s dissolution threat

Politicians have strongly criticised Prime Minister Anutin Charnvirakul’s remarks suggesting he might dissolve parliament if a no-confidence motion is tabled, accusing him of attempting to evade democratic scrutiny.

Pheu Thai Party leader Julapun Amornvivat said the stance reflects political frustration rather than leadership under a democratic system.

“The censure process under Article 151 is a legitimate tool for scrutiny, not an act of insult,” he said. “If the government has done no wrong — no corruption or misconduct — there is nothing to fear.”

He urged the government to view no-confidence debates as “an opportunity to clarify issues before the public, not to avoid criticism”.

Mr Julapan also expressed concern over the sluggish progress of constitutional reform, warning against using the amendment process as “a political hostage”. He said the current timeline for constitutional change is unlikely to succeed due to delays within parliamentary committees, particularly over the structure of a proposed constitutional drafting assembly.

Democrat Party leader Abhisit Vejjajiva urged Mr Anutin to “set an example of democratic maturity”, stressing that no-confidence debates are a constitutional norm, not a threat.

He said such a debate is a democratic mechanism for accountability. True leadership lies in facing scrutiny with dignity,” he said. “If you are confident in what you do, there is no reason to fear questions. Do not set a precedent of dissolving parliament merely to avoid a no-confidence debate.”

Deputy Prime Minister Suchart Chomklin defended Mr Anutin, saying his remark reflected “straightforward honesty”, not an intent to avoid accountability.

“The power to dissolve parliament belongs solely to the prime minister,” he said, adding that the coalition partners were aware of the government’s working timeline since its formation.

Mr Suchart, also Minister of Natural Resources and Environment, said the prime minister is working hard and that politics should not get in the way of governance.

“The prime minister should be allowed to work fully. The 70 million citizens already know who made what promises, so we should let the prime minister do his job without interference.

Meanwhile, the constitutional amendment process also stalled on Friday after a key committee meeting failed to reach a quorum.

The committee, chaired by People’s Party MP Nattawut Buapratum, failed to reach a consensus on whether to establish a new constitution-drafting assembly.

Committee spokesperson Senator Norasate Prachyakorn lamented the setback, urging members to “act responsibly” and resume deliberations next Wednesday.

Lawmakers are warning that continued disruptions could derail the reform timeline, which many already deem “improbably tight”.

Thai chamber drafts paper

The Thai Chamber of Commerce plans to present a white paper on strategies and measures for economic recovery to the prime minister during its annual seminar later this month.

Poj Aramwattananont, chairman of the chamber, said the “Khon La Khrueng Plus” co-payment scheme has been well received by Thais and is expected to stimulate the economy for the remainder of the year.

He said Thai exports continue to expand based on accelerated shipments. Despite a decrease in Chinese arrivals, other tourists from Northeast Asia and Southeast Asia have increased, said Mr Poj.

The chamber projects Thai GDP growth of 2.5% this year, with Phase 2 of the co-payment scheme propelling economic momentum.

The Songkhla Provincial Chamber of Commerce was designated as co-host of the 43rd Annual Chamber of Commerce Seminar, scheduled for Nov 21-23 in Songkhla under the theme “Unlocking New Growth: Harnessing New Potential for Development”.

The seminar is a platform for the nation’s private sector to exchange ideas, propose policy recommendations, and jointly shape Thailand’s economic direction, said Mr Poj.

More than 1,200 participants are expected to attend, including national and provincial chamber executives, members of the Thai Chamber of Commerce and the Thai Board of Trade, young entrepreneurs, provincial governors, and senior officials from ministries and economic agencies.

Songkhla is a key economic province in southern Thailand and wants to be a host for meetings, incentives, conferences and exhibitions. Projects in the province strengthened the economy, including the Songkhla deep-sea port, the double-track railway connecting Hat Yai and Padang Besar, and the establishment of a cruise port city at Sathing Phra.

He said the chamber will compile insights from its extensive network for the white paper, expected to provide a roadmap for national economic development.

The paper comprises seven pillars outlining proposals to revitalise both the grassroots economy and macroeconomy, building on recommendations previously presented to the premier prior to his taking office. These focus on unlocking new potential across all sectors including trade, investment, agriculture and food, tourism, energy and technology.

The white paper will be presented to Prime Minister Anutin Charnvirakul on Nov 23 for consideration as a framework in shaping Thailand’s future economic strategy in collaboration with relevant agencies, said Mr Poj.

Kalmaegi flattens ripe rice fields in Buri Ram

Farmers in many villages in Muang district are facing severe hardship from the impact of Storm Kalmaegi, which has brought heavy rainfall and strong winds that flattened rice fields just as crops reached full maturity.

The storm has left vast swathes of farmland in many villages in tambon Nong Tat inundated, with ripe rice stalks submerged in floodwaters.

Harvesting machines were unable to enter the fields due to standing water, and continuous rainfall has left farmers without dry places to spread and dry their grain. Attempts to dry rice along roads or open spaces have been thwarted by ongoing downpours.

Thawatchai Naen-udon, a farmer from Khok Wat village in tambon Nong Tat, expressed deep concern over the situation.

‘If the grain stays underwater for several more days, it will rot completely,’ he said on Saturday. ‘This year’s rice crop is our only hope – for our family’s food, for selling to earn income, and to repay loans to the Bank for Agriculture and Agricultural Cooperatives (BAAC). If it’s all destroyed, I don’t know how we’ll manage.’

Mr Thawatchai urged the government and related agencies to urgently inspect the damage and provide compensation. ‘We didn’t expect this. It’s a natural disaster we can’t avoid,’ he said.

Another farmer, Thongkoon Chaemram, who cultivated over 10 rai of rice fields in the same tambon, said he had managed to harvest only 2 rai before the storm struck.

‘The remaining fields were flattened by strong winds and continuous rain,’ he said. ‘If the rain stops, we might still be able to salvage some of the crop. But if the rain persists, the rice will rot.’

He appealed for state assistance, saying many farmers were facing hardship and financial burden.

‘We have invested in ploughing, fertiliser and seed, If everything is ruined, we’ll have nothing left. I just hope the government steps in to help,’ said Mr Thongkoon. (Story continues below) Another farmer said heavy rain had devastated his rice crop (photo above) in Muang Buri Ram. The crop was ready for harvest but the rain-soaked, seed-heavy heads are now under water.

If it does not drain off within the next couple of days the grain will begin to sprout, he said. If the water does drain and he can salvage some of the harvest he will still have water-soaked paddy that will require extensive drying out in the sun.

He will also receive far less per kilogramme when he eventually delivers it to the mill because of the damage and high remaining moisture content. (Story continues below)

Widespread damage

Tropical storm Kalmaegi made landfall in Ubon Ratchathani on Friday, unleashing heavy rain across the lower Northeast and causing widespread flooding and landslide damage.

The storm has since weakened to a tropical depression, but the Meteorological Department warned that heavy rain continues to affect the western Northeast, Central and Northern regions.

The low-pressure system now covers the western part of the Northeast and is expected to move across the upper Central and Northern regions in the coming days.

From Sunday through Monday, upper Thailand will continue to experience heavy and accumulated rainfall, raising the risk of flash floods, river overflows and landslides. Farmers have been urged to protect their crops from inundation if possible.

In addition to Buri Ram, key affected provinces include Ubon Ratchathani, Surin, Si Sa Ket, Roi Et, Yasothon and Amnat Charoen. Bangkok and adjacent provinces have also seen more rain.

In the North, Lamphun has been particularly hard hit. In Mae Tuen subdistrict Li district, flash floods inundated residential areas and left only one side of the main road passable.

Sukhothai is also facing severe flooding after water from the Mae Ramphan canal and Thung Thale Luang overflowed into Ban Kluai subdistrict.

Raids in Chon Buri and Phuket hobble major drug ring

Raids spanning seven locations in Chon Buri and Phuket disrupted a major narcotics network and led to the arrest of its mastermind on Saturday, police said.

The operation, led by the Crime Suppression police, took place simultaneously at two sites in Chon Buri and five in Phuket. Authorities targeted the network of a boss known as Phakawat ‘Jo’ Honesaithong.

Two arrests were made during the sweep: a woman identified only as Ornjira, believed to be the girlfriend of the group’s leader, taken from an apartment in Pattaya; and Puwanat, apprehended in Si Racha district of Chon Buri.

Both are wanted in Phuket for distributing Category 1 narcotics and conspiracy to launder money.

The operation also resulted in the detention of Mr Phakawat and another suspect identified as Jesada, after additional evidence was found to support the cases against them.

Highways Dept to push Don Muang tollway extension plan

The Department of Highways (DOH) is pressing ahead with plans to extend the elevated Uttraphimuk Tollway (Don Muang tollway) from Rangsit to Bang Pa-in in Ayutthaya, valued at a cost of more than 47 billion baht.

The 22-kilometre extension, part of the Intercity Motorway No.5 (M5), is designed to ease chronic congestion along Phahonyothin and Vibhavadi-Rangsit roads while enhancing connectivity between Bangkok, Pathum Thani, and Ayutthaya, DOH director-general Pongsakorn Chullabodhi said.

The DOH held a market sounding session on Thursday in Bangkok, attended by representatives from more than 40 major firms, including CH Karnchang, Don Muang Tollway, BTS Group Holdings, Sino-Thai Engineering and Construction and Gulf Development.

The event aimed to gather private-sector feedback and attract potential investors for the Public-Private Partnership (PPP Gross Cost) project, he said.

The private sector will be responsible for construction, operation, and maintenance, while ownership and toll revenues will remain under state control.

The PPP model will ensure efficient project management and sustainable returns while mitigating financial risks for the government, he said.

Construction is expected to take four years, followed by a 30-year operation and maintenance period. The project will extend the current seven-kilometre route between the National Memorial and Rangsit in Pathum Thani — which currently operates toll-free — creating a 29-kilometre elevated corridor between Bangkok and Bang Pa-in in Ayutthaya province, he said.

Tolls will range from 20 to 40 baht depending on distance, with the six-lane elevated motorway designed to accommodate high traffic volumes. The project will include seven entry and exit points and a rest area near the Rangsit 1 toll plaza.

“The road will also integrate the M-Flow barrier-free toll collection system to improve travel efficiency and reduce congestion at toll booths,” he said.

The DOH plans to invite bidding proposals early next year and sign contracts later in the year, with the motorway targeted for completion and opening by 2031.

According to an economic assessment, the project will generate more than 120 billion baht in total economic value, with net benefits exceeding 7.9 billion baht.

Kasikorn Securities revises growth outlook of AIS, True to 5-6%

Kasikorn Securities (KS) is upgrading the revenue growth forecast of Advanced Info Service (AIS) and True Corporation this year to 5-6% on average, rising from 3-4%.

The move reflects their improved third-quarter performance, driven primarily by successful cost reduction strategies, growing revenue streams and easing market competition, according to Pisut Ngamvijitvong, senior equity research analyst at KS.

The recent auction of spectrum licences on the 2100-megahertz, 2300MHz and 1500MHz bands had a positive effect on the telecom industry as the winning bids led to bigger spectrum cost savings for the country’s two major mobile service operators.

Advanced Wireless Network (AWN), a subsidiary of AIS, and True Move H Universal Communication (TUC), a subsidiary of True, were the only two qualified bidders in the recent auction of four spectrum bands.

AWN grabbed 30MHz of bandwidth on the 2100MHz band for 14.8 billion baht, while TUC won 20MHz on the 1500MHz band and 70MHz on the 2300MHz band with a combined offer of 26.4 billion baht.

No bids were placed for the 850MHz band at the auction.

Mr Pisut said the Thai telecom industry should remain healthy, supported by further revenue upside from content, enterprise and retail strategies, and he anticipates solid quarterly core profit growth over the next 3-4 quarters from spectrum cost savings.

The phase of strong free cash flow expansion should remain intact and outweighs rising market concerns over a content war and ongoing litigation, he said.

AIS and True performed well in the third quarter, reflected by their revenue and earnings before interest, taxes, depreciation and amortisation growth, both year-on-year and quarter-on-quarter.

AIS’s average revenue per user (ARPU) per month tallies around 230 baht (prepaid and postpaid services combined), while True’s ARPU averages 220 baht, according to KS.

Mr Pisut said AIS’s performance in the third quarter exceeded market expectations, especially in terms of revenue growth.

Growth for True was flatter due to its network outages in the second quarter, he said. True posted net profit in the third quarter of 1.6 billion baht. Excluding one-off items, core profit was 4.1 billion baht, up 41.9% year-on-year and 17.2% quarter-on-quarter.

AIS posted net profit of around 12 billion baht for the quarter. Excluding one-off items, its core profit was 11.9 billion baht, up 41.1% year-on-year on robust revenue growth and regulatory cost savings, while the quarter-on-quarter gain was 8.6%, attributed to better cost control, said Mr Pisut.

The fourth quarter should continue the positive trend for the sector due to the peak tourist season, particularly for True which has customers in this segment, including a number from China.

Uniting against cancer

According to statistics from the National Cancer Institute, the most common cancers among Thai women are breast and cervical — both among the leading causes of death in women worldwide. Raising public awareness is therefore of utmost importance, encompassing early screening, prevention and equitable access to effective treatment. When detected early, cancer in women can often be successfully treated, greatly improving survival rates.

In light of this, Central Group recently organised the Cancer Care Fair under the “Central Group Women Cancer” initiative — now in its 20th year — to continue its mission of supporting women’s health. The project aims to raise funds to purchase essential medical equipment for Maharat Nakhon Ratchasima Hospital, enhancing early detection and treatment of women’s cancers and offering better chances of recovery for at-risk groups and patients in need.

Supatra Chirathivat of Central Group said access to proper treatment and emotional support during life’s most challenging moments are fundamental rights for every woman.

“The Cancer Care Fair is not only a fundraising platform but also a space of compassion — reflecting love, understanding and collaboration across all sectors to bring hope, strength and inspiration to those battling cancer,” she said.

Dr Sailuk Pimkoh of Maharat Nakhon Ratchasima Hospital added: “The ‘Central Group Women Cancer’ initiative serves as a vital force in enhancing our hospital’s capacity to provide comprehensive healthcare. It enables us to acquire essential diagnostic and treatment equipment for common female cancers such as breast, cervical, ovarian and endometrial — all of which remain major causes of mortality among Thai women.”

This year’s support will allow the hospital to purchase a colposcopy device — an essential tool for detecting cervical abnormalities with precision. Preventive healthcare is always key. Women aged 30 and above should undergo cervical cancer screening using the HPV DNA test every five years and from age 40 onwards, should have annual mammograms. In addition, maintaining a healthy lifestyle through regular exercise, adequate rest and avoiding risk factors such as stress, smoking and high-fat diets can significantly reduce the long-term risk of cancer.

This year’s Cancer Care Fair featured a variety of activities encouraging the public to share their support and contribute to the cause including a charity sale featuring items from celebrities, special fundraising merchandise from the “Central Group Women Cancer” initiative, Pink Power Collection T-shirts by Yuedpao, crochet flower keychains by Good Goods, portrait painting by autistic artists from Art Story, a prosthetic breast sewing activity hosted by Sabina, and a message-writing station to share words of encouragement, among others.