Category: The Bangkok Post

CG Capital Advisory, the private equity arm of Central Group, plans to invest over 5 billion baht to develop five hotels in Phuket and Samui, alongside the launch of the InterContinental Residences Bangkok Asoke, a 5.5-billion-baht condominium project.

Phoom Chirathivat, managing partner and co-head of CG Capital, said that one of the hotels will be in Samui, while the remaining four will be in Phuket, with one featuring a water park.

“From our initial investment budget of 10 billion baht, we have so far committed 8.5 billion baht in equity across seven projects since our establishment last year,” he said. “The remaining 1.5 billion baht will be allocated to one or two additional projects.”

One of the upcoming investments, to be made within the next 18 months, will be a branded residence project in Bangkok, developed on a leasehold plot.

Of the seven committed projects, two are branded residences in Phuket and Bangkok. The Phuket development, The Standard Residences Phuket Bang Tao, was launched last year and has achieved 85% sales, with Thai buyers accounting for 60% of total units sold.

The Bangkok project, InterContinental Residences Bangkok Asoke, valued at 5.5 billion baht, will be on a 1.5-rai plot on Sukhumvit Soi 16. It will be the world’s first standalone InterContinental-branded residence.

The development will feature a 32-storey tower with 88 units, ranging from two-bedroom units of 139 square metres to a duplex penthouse of 547 sq m, priced between 40.8 and 245 million baht, or an average of 350,000 baht per sq m.

According to property consultancy CBRE Thailand, Thailand led the Asia-Pacific region and ranked fourth globally, following the United States, United Arab Emirates (UAE) and Mexico, in terms of the number of branded residences as of the fourth quarter of 2024.

In Bangkok, which ranked seventh among global cities, there are 11 branded residence projects, comprising nine five-star hotel-branded and two non-hotel developments.

“However, only three of the hotel-branded residences are freehold, and they have recorded very strong sales, with 93% sold and just 33 units remaining on the market,” said Artitaya Kasemlawan, head of residential sales projects at CBRE Thailand.

She said super-luxury and branded residence condos in downtown Bangkok generate an average rental yield of 4.8% a year, with the highest yields reaching 7.9%, while Grade-A serviced apartments in Sukhumvit enjoy rental growth of 8.5%.

“Sukhumvit remains Bangkok’s most sought-after address for expatriates, accounting for 65% of demand, compared with 18% for Silom–Sathorn and only 9% for Central Lumpini and Siam,” she added.

She said the average asking price of freehold, future off-plan units in the high-end and above segments in Central Lumpini and Sukhumvit around 2014 were roughly 210,000 and 175,000 baht per sq m, respectively.

During 2020–2022, Central Lumpini surged ahead, reaching 480,000 baht per sq m, while Sukhumvit stood at 250,000 baht per sq m.

By the second quarter of 2025, prices stood at 368,571 baht per sq m for Central Lumpini and 366,000 baht per sq m for Sukhumvit.

OWNDAYS (Thailand) Co., Ltd., the leading Japanese eyewear retailer, celebrates its 10th anniversary in Thailand with a grand event titled ‘OWNDAYS THAILAND 10th ANNIVERSARY – THANK YOU FOR YOUR SUPPORT OVER THE YEARS.’ The celebration highlights the brand’s remarkable journey from humble beginnings to nationwide success under the concept ‘From Seed to Success – A Decade of Vision.’ This theme reflects OWNDAYS’ commitment to transforming the eyewear shopping experience in Thailand – making it simple, transparent, and stylish. Within just a decade, OWNDAYS has become a market leader and a beloved brand among the new generation.

To express gratitude for a decade of customer support, OWNDAYS unveils a special anniversary collection themed ‘Every Day is a Blessing,’ inspired by Lord Ganesha – symbolising new beginnings, wisdom, and success. The collection features six exclusive designs, accompanied by a series of customer activities from 16-19 October 2025 at Fashion Hall, 1st Floor, Siam Paragon.

A Journey of Growth: From Optical Store to Fashion Brand

OWNDAYS entered the Thai market in 2015, when the eyewear industry was still traditional customers often waited days for their glasses and faced complex pricing structures. The brand revolutionised the experience by introducing ‘glasses ready in 20 minutes,’ clear and inclusive pricing with no hidden lens fees, and modern designs to suit every lifestyle.

By positioning its stores in shopping malls and community spaces with interiors resembling fashion boutiques rather than optical clinics, OWNDAYS quickly resonated with consumers. It has since evolved into an ‘Everyday Eyewear Brand’ recognised by young customers for its fashionable, accessible, and speedy service.

Mr Evan Woo, Managing Director of OWNDAYS (Thailand) Co., Ltd., said: ‘Over the past decade, OWNDAYS has become more than just an eyewear store. It’s a brand that inspires people to ‘OWN your DAYS’ to live life in their own way. We believe success comes from continuously listening to our customers and adapting to the ever-changing market.’

Marketing and Brand Strategy for the New Generation

OWNDAYS has positioned itself as a Fashion and Lifestyle Brand, merging functionality and fashion. Its eyewear is not just for vision correction it is a form of self-expression. The brand launches new collections monthly, ranging from essentials to collaborations with well-known fashion labels and pop culture icons such as Kuromi and Toy Story.

In marketing, OWNDAYS engages consumers through digital-first storytelling on TikTok, Instagram, and Facebook – creating fun, relatable, and shareable content such as how-to videos for choosing frames by face shape or humorous memes.

The appointment of Mario Maurer as brand ambassador reinforces its image as a modern, friendly, and beloved brand across generations. This partnership has expanded through viral campaigns and interactive online activities, strengthening brand awareness and connection with young audiences.

A New Decade of Growth and Expansion

Following consistent double-digit growth in 2024, OWNDAYS aims to expand to over 100 stores nationwide within the next 3-5 years. The company will enhance customer experiences through an Omnichannel Experience seamlessly linking online and offline shopping for example, selecting frames online and collecting them in-store.

Future expansion plans also include entry into neighbouring CLMV markets (Cambodia, Laos, Myanmar, and Vietnam), where consumer behaviour mirrors Thailand’s, and exploring collaborations in fashion and health-tech sectors.

Event Highlights: 16-19 October 2025 at Siam Paragon

OWNDAYS’ ‘Every Day is a Blessing’ collection – six designs inspired by Lord Ganesha – symbolises positive energy and confidence:

Gold – The Blessing of Wealth: Prosperity and fortune

Green – The Blessing of Creative Beginnings: Innovation and new ventures

Red – The Blessing of Might and Majesty: Power and the removal of obstacles

Purple – The Blessing of Great Compassion: Kindness and success

Blue – The Blessing of Fulfilled Success: Achievement of goals and ambitions

White – The Blessing of Rhetoric: Eloquence and effective communication

Mr Woo added: ‘We want this collection to symbolise new beginnings – for both our brand and our customers – reminding everyone that each day is an opportunity to see the world more clearly and move forward with confidence.’

Exclusive Activities Throughout the Celebration

Opening Showcase (16 October, 17:00-19:00): Featuring a contemporary dance performance ‘GRAIN TO GROWTH’ symbolising the power of growth, with appearances by Anntonia Porsild, Miss Universe Thailand 2023, and Mario Maurer, OWNDAYS Brand Ambassador.

Special Promotion: 10% discount on all frames with lenses or THB 1,000 off premium lenses.

Exclusive Giveaways and Activities: Free chocolates, Lucky Zen Garden Workshop, Face Analysis, Tarot Reading, and Personality Tests throughout the event.

Special Talk (19 October, 16:00-17:00): ‘Thai Beliefs in Lord Ganesha’ by Note Sarun Khungbunpot and Tor Jitraphan Hajjavanija.

This milestone marks another step forward for OWNDAYS Thailand in spreading inspiration, confidence, and heartfelt gratitude to all customers who have grown with the brand over the past decade.

After five years of operation, Line BK, a pioneering digital banking platform in Thailand, continues to post solid business momentum and remains confident in its competitiveness as virtual banks prepare their functions.

Rapid expansion

Line BK is a social banking platform collaboration between Kasikornbank (KBank) and Line Corporation, launched in October 2020 with an initial focus on digital lending under a personal loan licence.

Despite launching during the pandemic, when Thailand’s GDP contracted by 6.1%, Line BK achieved 1 million users just two months after its debut.

The company serves a broad customer base, including salaried employees, freelancers, and underbanked or underserved segments who often lack formal financial statements.

“Even during the pandemic, we continued to grow our business cautiously,” said Tana Pothikamjorn, chief executive at Kasikorn Line, which operates Line BK.

By October 2021, Line BK celebrated its first anniversary with 3.4 million users. Innovative financial products and strategic partnerships have played a crucial role in fuelling Line BK’s business growth.

During its third and fourth years of operation, in 2023 and 2024, the company expanded its user base to 6 million and 7 million, respectively.

However, this growth came amid Thailand’s economic slowdown and rising household debt, posing challenges to business operations.

“Many customers had to leave our platform due to weakened debt repayment capacity,” said Mr Tana.

“We also saw a significant increase in non-performing loans [NPLs], which required more time and effort to manage.”

Keys to success

In October 2025, as Line BK marks its fifth anniversary, the platform has grown its user base to 8 million despite ongoing economic headwinds.

The majority of users are Millennials (aged 29-44), accounting for 66% of total users, followed by Gen Z (aged 13-28) at 20%, Gen X (aged 45-60) 12%, and Baby Boomers (over 60) 2%.

For its digital loan services, he said Line BK serves 855,000 borrowers with an average monthly income of between 15,000 and 30,000 baht.

The average credit line per borrower is 43,000 baht, and this segment’s risk profile is typically higher than that of traditional bank customers, said Mr Tana.

As of the first half of 2025, Line BK’s total loans outstanding tallied 24.4 billion baht, up from 17.6 billion at the end of 2024.

The company aims to expand its loan portfolio to 30 billion baht by the end of this year while keeping NPLs below 3%, despite the sluggish economy and high household debt.

“On average, we receive around 10,000 loan applications a day, reflecting strong demand amid the economic slowdown,” he said.

“We only approve about 1,000 applications or 10% daily, in line with our small scale of operations and focus on maintaining asset quality.”

Although the company has continued to expand its business and manage bad debt effectively, Mr Tana said Line BK recognises the need to strengthen its capabilities and operations in all areas — particularly in risk management, including debt collection and NPL control — to ensure long-term business sustainability.

He said the company is planning to introduce new innovative features to enhance user convenience in 2026.

The platform offers a range of financial products and services, including loans, debit cards, insurance, payments and fund transfers. Line BK also integrates with Line and KBank, delivering a more seamless and connected financial experience to users.

Ready to face new rivals

Mr Tana said Line BK has operated as a virtual bank for five years, gaining valuable experience through both favourable and challenging periods, particularly in terms of NPL management.

The company’s operations have stabilised and are expected to continue growing next year, he said.

With support from KBank, Line BK is not required to acquire deposits in the same way as the first batch of virtual banks. As a result, the company holds a competitive advantage because the cost of deposit acquisition is relatively high.

With registered capital of 10 billion baht, Line BK is well-positioned to sustain its business operations over several years, said Mr Tana.

“We are confident in our capabilities and competitiveness when new virtual banks start operations next year, even amid intensifying competition and a weaker economy,” he said.

On June 19, the Bank of Thailand announced the three successful applicants for the country’s first batch of virtual banks.

The winners are required to commence business operations within one year from the date of the Finance Ministry’s approval, which was June 19. Each licence requires initial registered capital of 5 billion baht.

The winners are: ACM Holding Co (TrueMoney), backed by the Charoen Pokphand Group; Krungthai Bank, collaborating with Advanced Info Service Plc and PTT Oil and Retail Business Plc; and the SCB X consortium, comprising SCB X (the holding company of Siam Commercial Bank), KakaoBank (South Korea’s largest digital bank), and WeBank (a global digital bank known for its advanced technology).

The ruling Bhumjaithai Party (BJT) says it is not opposed to a member of another party chairing the parliamentary committee vetting constitutional amendment drafts, as the opposition Pheu Thai Party prepares to nominate Chusak Sirinil for the post when the panel meets later on Monday.

BJT list MP Korawee Prisananantakul, a member of the House-Senate joint committee on constitutional amendments, said on Sunday the committee will fill up key positions and set a working schedule in its first meeting on Monday.

While BJT has yet to decide whether it will nominate a candidate for committee chair, Mr Korawee said the party has no issue if an MP from another party assumes the post.

“There are several qualified candidates, such as Chusak Sirinil or Cholnan Srikaew from Pheu Thai who are well-versed in legal matters,” Mr Korawee said.

However, since the charter draft proposed by the People’s Party has been picked as the core reference for the amendment effort, he said appointing a chairman from that party would be more appropriate.

“If the BJT’s version had been selected as the main draft, we would have proposed someone from our side — such as Paradorn Prisananantakul — as chair,” he said.

“But since it’s not our draft, we don’t mind if the chair comes from another party. What’s important is maintaining a constructive atmosphere within the committee.”

On concerns that the committee might touch on chapters 1 and 2 of the constitution — which cover the state’s fundamental principles and the monarchy — Mr Korawee said the issue should be discussed by the committee.

“Our draft explicitly stated those chapters would not be amended,” he said, noting that Pheu Thai had shown no signs of disagreement on this point.

“If we want genuine progress in amending the constitution, we should avoid anything that could lead to its failure.”

Key Pheu Thai member and Nan MP, Cholnan Srikaew defended the party’s decision to nominate Mr Chusak.

“He is highly qualified and has long experience in constitutional work. However, the final decision rests with the committee,” said Dr Cholnan, a former Pheu Thai leader.

Prime Minister Anutin Charnvirakul has instructed the Internal Security Operations Command (Isoc) to strengthen coordination across agencies to combat online scams and call centre fraud.

Government spokesman Siripong Angkasakulkiat said the directive was issued during Isoc’s first board meeting, held on Monday at its Bangkok headquarters.

Mr Anutin called for tougher defences against scammers, improved real-time intelligence sharing, and tighter cross-border cooperation to prevent Thailand from being used as a base or transit point for cybercrime.

The meeting also endorsed four strategic plans for Isoc’s southern operations, covering counter-narcotics, anti-terrorism and scam suppression.

Army spokesman Maj Gen Thammanoon Maisonti said Mr Anutin stressed the need for proactive intelligence to detect criminal activity and integrate data from security and financial agencies to dismantle scam networks.

Meanwhile, Thai delegates at the 151st Inter-Parliamentary Union (IPU) Assembly in Geneva urged stronger global cooperation against cybercrime.

Led by House Speaker Wan Muhamad Noor Matha, the Thai team proposed an urgent motion on transnational crime during the Asia-Pacific Group meeting at the Centre International de Conférences Genève.

Rangsiman Rome, a People’s Party MP, presented the proposal, warning that online scams had become a global menace undermining economies and exploiting the vulnerable.

Co-drafted by Thailand, China and Cambodia, the proposal calls for enhanced data-sharing, coordinated law enforcement, and mutual legal assistance to track and recover assets linked to cybercriminals.

Delegates also discussed holding digital platforms accountable for enabling fraud. The Asia-Pacific Group recommended Thailand’s initiative for adoption as an emergency resolution at today’s IPU plenary session.

However, Cambodia opposed the proposal, arguing it did not align with the assembly’s main theme of maintaining humanitarian standards amid global crises.

The Social Security Office (SSO) is once again at the centre of an embarrassing controversy following a recent online public hearing on reform of the pension formula for insured workers under Sections 33 and 39 of the Social Security Act.

The public consultation, held through the government’s online platforms, was meant to gather opinions from contributors about how to ensure fairness and the long-term sustainability of the nation’s largest welfare fund.

Instead, it was marred by an apparent surge of automated “bot” responses over several days, raising suspicions that certain groups may have attempted to sway the outcome. Such interference is not merely a technical glitch; it is a disgrace.

The SSO’s pension reform is a matter of national significance, with profound consequences for the 24.6 million insured workers and the 2.65-trillion-baht funding that supports them. The reform aims to address structural weaknesses that, if left unchecked, could cause the pension system to collapse within the next three decades as Thailand’s ageing population expands and payout obligations outstrip contributions.

The proposed reform centres around adopting a new “CARE” formula to replace an outdated system that calculates pensions based on the salary in the final 60 months of work. Under the current structure, workers whose income declines before retirement, or those who shift from formal employment (covered under Section 33) to voluntary coverage (under Section 39), are unfairly penalised. The new system would instead use adjusted lifetime average earnings to calculate pensions more accurately, ensuring greater equity and alignment with real income levels.

While the CARE model may reduce benefits for a small group of contributors whose earnings rose sharply in their final working years, it will improve fairness across the system as a whole. This is a necessary step to preserve confidence in a fund that millions of Thais rely upon for their future.

Yet pension formula reform alone will not save the Social Security Fund. The root of the problem lies in governance and transparency. In recent months, questions have emerged over the SSO’s budget allocations, procurement practices and investment management. There are reports about outsiders being invited to board meetings on key investment strategies. Such issues have undermined trust among members who already hesitate to increase their contributions. The bot incident is therefore symbolic of a broader malaise: a system vulnerable to manipulation, both technical and institutional. It underscores why reforming the formula must go hand-in-hand with a root-and-branch overhaul of management within the SSO itself.

Thailand’s largest public fund cannot afford to be seen as opaque, complacent or compromised. Rebuilding public trust through genuine accountability and open governance must form the foundation of any meaningful reform. Only then can the SSO truly safeguard the financial security of workers, not just for the next 30 years but for generations to come.

The government should use this opportunity to review the broader social protection system. Pension reform must reflect a genuine social contract between the state and citizens. The SSO’s credibility will depend on its willingness to confront technical and ethical challenges transparently, showing that public welfare, not political interest, is its guiding principle.

Police arrested a 51-year-old man illegally providing pearling sexual enhancement and penile enlargement services in his car.

Pol Maj Gen Khongkrit Lertsitthisakul, commander of the Consumer Protection Police Division, said on Monday the suspect, Pithaya Moon-in, had advertised his services on TikTok.

Police set up a sting operation and then arrested him in his parked car on Kamphaeng Phet 6 Road in Chatuchak district, Bangkok, on Sunday. There was a plainclothes policeman in the backseat of his car.

Police seized 189 pearling beads in round, cubic, bean, heart, capsule and Chinese bun shapes from his car. He also had medical equipment, anaesthetics and surgical instruments in his car.

Pearling is the insertion of small beads under the skin of the penis to create ridges that boost friction during sex and enhance pleasure for both partners. Doctors warn it can lead to long-term complications including scar tissue, chronic pain and penile dysfunction, in addition to possible infection during insertion.

Pol Maj Gen Khongkrit alleged the suspect admitted he was not a medical professional and had illegally treated patients to generate income.

He charged 1,000 baht per pearling bead, 5,000 baht for circumcision and 10,000 baht for penile enlargement with filler. He offered the service in his car or at his clients’ homes in Bangkok and outside provinces to avoid arrest.

A Chinese man was injured after accidentally falling from the third floor of a hotel early Sunday morning.

Rescue workers were alerted to the incident at a hotel near Balihai headland around 4.40am.

Upon arrival, they found a Chinese man with injuries to his leg, arm and body. He was given first aid at the scene before being taken to a local hospital.

Natthapol Khampard, 38, a hotel employee, said the Chinese man was not a guest. He appeared terrified, ran into the hotel, rushed to the third floor, climbed onto a balcony, tried to evade capture and then fell to the ground.

Hotel security guard Wichai Phuddee, 59, said the man had arrived in a white car with a Thai woman. According to her, the man had earlier been drinking with friends and there had been no argument between them.

The woman later left the hotel in the same car without checking on the injured man, the guard said. Pattaya police are investigating the incident.

The ruling Bhumjaithai Party (BJT) says it is not opposed to a member of another party chairing the parliamentary committee vetting constitutional amendment drafts, as the opposition Pheu Thai Party prepares to nominate Chusak Sirinil for the post when the panel meets later on Monday.

BJT list MP Korawee Prisananantakul, a member of the House-Senate joint committee on constitutional amendments, said on Sunday the committee will fill up key positions and set a working schedule in its first meeting on Monday.

While BJT has yet to decide whether it will nominate a candidate for committee chair, Mr Korawee said the party has no issue if an MP from another party assumes the post.

“There are several qualified candidates, such as Chusak Sirinil or Cholnan Srikaew from Pheu Thai who are well-versed in legal matters,” Mr Korawee said.

However, since the charter draft proposed by the People’s Party has been picked as the core reference for the amendment effort, he said appointing a chairman from that party would be more appropriate.

“If the BJT’s version had been selected as the main draft, we would have proposed someone from our side — such as Paradorn Prisananantakul — as chair,” he said.

“But since it’s not our draft, we don’t mind if the chair comes from another party. What’s important is maintaining a constructive atmosphere within the committee.”

On concerns that the committee might touch on chapters 1 and 2 of the constitution — which cover the state’s fundamental principles and the monarchy — Mr Korawee said the issue should be discussed by the committee.

“Our draft explicitly stated those chapters would not be amended,” he said, noting that Pheu Thai had shown no signs of disagreement on this point.

“If we want genuine progress in amending the constitution, we should avoid anything that could lead to its failure.”

Key Pheu Thai member and Nan MP, Cholnan Srikaew defended the party’s decision to nominate Mr Chusak.

“He is highly qualified and has long experience in constitutional work. However, the final decision rests with the committee,” said Dr Cholnan, a former Pheu Thai leader.

Sino-Thai Engineering and Construction Plc (STEC) and its subsidiary HTR Co on Monday launched a defamation complaint against People’s Party MPs Suphanat Minchaiynunt and Rukchanok Srinork, claiming their social media posts falsely implied STEC’s involvement with a scam network.

A source said a legal representative of the firm filed the complaint at Thong Lor Police Station after Mr Suphanat posted on his Facebook page on Friday, citing information from the Department of Business Development that Prince International is located at Sino-Thai Tower on Sukhumvit 21 Road (Asok).

The complaint came as STEC issued a statement addressing the claims that link the company to an alleged scammer network said to be operating from Sino-Thai Tower.

The statement referred to media reports about Prince International Co Ltd being based in Sino-Thai Tower, which had led to public speculation and the spread of inaccurate or incomplete information.

STEC, as the parent company overseeing subsidiaries including HTR Co, which manages the tower, said it has no direct or indirect connection with Prince International Co Ltd or any unlawful activities.

To protect its reputation, STEC lodged its complaint with the police and reserved the right to pursue further legal action if the statements are found to be false or violate rights and cause damage to the company.

STEC said it was fully cooperating with relevant agencies to ensure transparency and public confidence.

On Friday, Prince International, which rents space in Sino-Thai Tower, issued a statement saying that it has a lease agreement covering the period from October 2023 to September next year.

The company operates in real estate brokerage and is entirely unrelated to Cambodia’s Prince Holding Group, which is allegedly involved in online cryptocurrency investment scams.

Prince Holding’s founder and chairman, Chinese-born British-Cambodian tycoon Chen Zhi, 38, was indicted in a Brooklyn federal court on Oct 14 on charges of wire fraud conspiracy and money laundering conspiracy.

His bitcoin and assets have been frozen by the United Kingdom and the United States.

The statement also said that Prince International has never conducted any illegal business activities and that its operation is based on transparency and the law.