Category: The Bangkok Post

Thai Beverage (ThaiBev), the Singapore-listed food and beverage company, plans to invest around 9 billion baht in fiscal 2026.

ThaiBev’s 2026 fiscal year runs from Oct 1, 2025 to Sept 30, 2026.

A total of 4 billion baht is for its non-alcoholic beverage business, 2 billion for its spirits business, 2 billion for its beer business, and 1 billion for its food business.

Thapana Sirivadhanabhakdi, group chief executive, said the global and regional economies are experiencing slower growth and trade policy uncertainty.

Changes in US policy have created a negative impact on trade in Asia-Pacific and Southeast Asia, he said.

Regarding politics, Mr Thapana said the Thai government’s growing stability is lifting confidence, driven by its economic team.

“There are positive signs from October as the new government emphasises improving the economy,” he said.

Despite the uncertain trade outlook, there is a clearer direction in multilateral trade negotiations, said Mr Thapana.

The company is continuing to strengthen its business foundations and implement its “Passion 2030” roadmap that comprises two strategic pillars: “Reach Competitively” and “Digital for Growth”.

The first pillar focuses on ensuring complete product delivery coverage across all channels, with seamless integration, high service quality, and cost competitiveness.

The second segment involves leveraging digital technology to enhance its growth potential by improving efficiency, effectiveness and insights, while increasing connectivity with its consumers and business partners to ensure responsiveness to their evolving needs.

Sopon Racharaksa, executive vice-president and chief of the spirits product group, said the company encountered headwinds from challenges in the business environment at home and abroad.

The company plans to allocate 2 billion baht for its spirits product group, with 1 billion in reserve for international investments, such as expanding production capacity in New Zealand and increasing warehouse capacity in the UK.

For the beer business, the company plans to invest 2 billion baht in fiscal 2026, most of which will be allocated to a new plant in Cambodia, said Michael Chye Hin Fah, chief of the beer product group.

Located in Kandal province, roughly 50 kilometres from Phnom Penh, the new plant has a production capacity of 50 million litres per year in the first phase.

The plant is under construction and is expected to open in the next few months, according to ThaiBev.

Kosit Suksingha, president and group chief operating officer for Thailand, said the company is set to invest 4 billion baht in the non-alcoholic beverage segment.

The majority of the budget will be allocated to its projects abroad, he said, including a dairy cattle farm and a dairy production facility in Malaysia, as well as a non-alcoholic beverage production site in Cambodia.

Mr Kosit said the project in Malaysia aligns with the company’s strategy to tap into the growing halal market, while the facility in Cambodia will enable the company to produce and distribute products more effectively.

Some 700-800 million baht of investment in Thailand will be directed towards upgrading existing production lines and reforming its beverage packaging, he said.

Non-alcoholic sales are projected to grow by double digits this year, said Mr Kosit. This segment contributes 5% of the company’s total sales.

Paisarn Aowsathaporn, first vice-president and chief of food business for Thailand, said the company plans to invest 1 billion baht in the food business in 2026.

The investment is focused on roughly 45 additional KFC outlets. ThaiBev also wants to refresh its Oishi Buffet and Oishi Ramen restaurants, following this year’s rebranding of Shabushi, aimed to attract both Gen Z and Gen X consumers, he said.

The company is promoting the restaurants under Food of Asia, its food business subsidiary, at One Bangkok to serve employees in the buildings, which is expected to tally 10,000 by the end of this year.

ThaiBev also launched the Sook Delivery application to provide vertical delivery options for office building residents.

Mr Paisarn said he expects the food business to grow by 9% per year from 2026-2030.

Spotify has deleted more than 75 million songs generated by artificial intelligence (AI) in the past 12 months, as the music streaming giant moves to tighten control over synthetic content that it says is flooding the platform and threatening artists’ income.

The company confirmed it will introduce new measures to regulate AI-generated music, following reports that automated uploads have reached unprecedented levels. Rival platform Deezer recently disclosed that around 28% of daily uploads, equivalent to about 30,000 songs per day, were created with AI tools.

Spotify said the surge in synthetic music had forced the firm to act, with concerns that the overwhelming volume of AI tracks could siphon off revenue from human musicians. The company unveiled three key steps aimed at restoring balance.

First, Spotify will strengthen checks to prevent AI-generated vocals from impersonating real artists or producing misleading content.

Second, it will improve filtering systems to ensure revenue shares do not go to AI-made tracks, directing income instead to genuine performers.

Third, the platform will introduce AI labels on songs, giving listeners transparency over which tracks were created or partially composed with AI.

Despite the crackdown, Spotify stressed that it remains supportive of AI as a creative tool when used responsibly. The company said content will continue to be treated equally across the platform, provided it is not misused to deceive audiences or undermine artists’ livelihoods.

A section of Charoen Krung Road near the Electricity Authority in Bangkok suddenly subsided on Wednesday morning and the road has been partially closed to traffic.

The road surface collapsed around 10am on Wednesday.

A video posted online shows a large hole in the road surface, raising concerns about safety and disruption of traffic flow in the busy area. The collapsed section is several metres long.

Rescue teams and other agencies rushed to the scene to evaluate the damage, begin traffic control measures and prevent further accidents.

The cause of the collapse was still being investigated.

Motorists are advised to avoid the area if possible and use alternative routes until repairs are completed and the road fully reopened.

The incident follows the recent major sinkhole on Samsen Road outside Vajira Hospital.

Kasikorn Asset Management (K-Asset) has emerged as a market leader in Thailand’s mutual fund industry, capturing more than half of total net inflows this year-to-date to drive its assets under management (AUM) close to 1.8 trillion baht.

Executive chairman Win Phromphaet said the company captured inflows of 134 billion baht this year, representing about half of the entire industry’s inflows. The increase was driven primarily by fixed-income funds, which attracted strong demand amid persistently high interest rates.

By year-end, total inflows could reach 170 billion baht, pushing K-Asset’s AUM beyond the 2-trillion-baht milestone, he said.

K-Asset sees signs of stabilisation for Thai equities over the next six months, supported by a rebound in GDP growth and a bottoming out of corporate earnings revisions.

K-Asset projects the Stock Exchange of Thailand (SET) index to finish in a range of 1,300-1,340 points this year.

“While structural challenges, such as demographics, competitiveness and governance, still weigh on long-term growth, near-term sentiment is improving thanks to fiscal stimulus, reduced political risk and tax incentives,” said Mr Win.

He said interest rate policy will remain a key driver for stock market growth. K-Asset expects Thai policy rates to decline by 50 to 75 basis points (bps) over the next 12 months, with the upcoming Monetary Policy Committee meeting on Oct 8 proving pivotal. If rates are cut later than expected, such as in December, the market could respond positively, with each 25-bps cut potentially lifting the SET index by around 40 points, said Mr Win.

K-Asset continues to recommend high-dividend equities, particularly in the banking and energy sectors. The six largest banks and two smaller players offer dividend yields of about 8%, while major energy firms are delivering 6.3-6.5%.

“Historically, dividend-focused stocks have consistently outperformed the broader market,” he said, adding a new government and proactive policies on household debt are expected to further benefit these sectors.

Despite slow economic growth, dividend stocks remain a stable source of income. Average total returns from Thai equities are projected at 5% annually, with dividends contributing around 4%, noted K-Asset.

“Dividend-paying equities can help balance portfolios, generate consistent income, and protect value in a low-growth environment,” said Mr Win.

Long-term bonds have offered yields of 8-10% in 2025, making them particularly attractive to investors wary of the sluggish performance of domestic equities. However, K-Asset expects yields to normalise over the next 6-12 months.

“Bond yields could fall to around 3-4% once the interest rate downcycle takes hold. Investors should adjust their portfolios according to their risk appetite,” said managing director Wajana Wongsupasawat.

With bond returns likely to soften, there may be opportunities to diversify into other risk assets, including foreign equities and fixed income abroad, he said.

Bangkok, September 29, 2025 — The partnership between the Badminton World Federation (BWF) and Etihad Airways marks a significant milestone in combining elite sport with global connectivity.

Under this collaboration, Etihad serves as the Official Global Airline Partner of the BWF, providing seamless travel and premium experiences for players, officials and fans, while amplifying badminton’s global reach. The alliance reflects both organisations’ shared mission to unite people across continents through sport, culture and shared values.

Since January 2025, the airline has connected badminton’s worldwide fan base of 744 million people, most of whom are in Asia, with its expanding network and services.

At the recent TotalEnergies BWF World Championships in Paris, BWF President Khunying Patama Leeswadtrakul met with Arik De, Etihad’s Chief Revenue and Commercial Officer, to celebrate the role the airline has played in elevating the sport this year.

“To align ourselves with a global leader in air travel such as Etihad Airways signals the sport’s expanding footprint,” Khunying Patama said. “Etihad’s dedication to fostering connections through sport mirrors our mission of uniting people through badminton’s universal appeal.

“We are proud to partner with a sponsor that shares our vision to elevate badminton to world-class status, and for Etihad to take an active role in developing the sport globally. Together, we aim to enhance the fan experience, elevate the sport’s visibility and deliver unforgettable experiences at our premier tournaments.”

De underlined the synergy between the two organisations. “Our partnership with the BWF reflects Etihad’s commitment to connecting people through sport, culture and travel,” he said.

“Badminton is one of the fastest-growing sports in the world, uniting millions of fans across Asia and beyond. As we expand our network across Southeast Asia, we are proud to engage with badminton fans everywhere and support a sport that is so deeply loved in the region.”

Beyond celebrating the partnership, Khunying Patama herself embodies the global aspirations of the sport. A billionaire entrepreneur turned philanthropist, she has channelled her resources into sport, youth development, art, music and culture.

She became Thailand’s first female member of the International Olympic Committee (IOC) in 2017, the fourth Thai overall to hold the post. Earlier this year, she was elected unopposed by 204 national member associations as president of the BWF for the 2025-2029 term, making her not only the first Thai but also the first woman ever to lead the BWF.

In Thailand, she serves as President of the Badminton Association of Thailand under Royal Patronage, where she has spearheaded grassroots development, talent-building initiatives and the hosting of world-class events.

Her influence extends well beyond sport. She is active in numerous charities supporting education, health and social development, while also serving as patron of cultural, art and music organisations.

With business interests ranging from steel and property to hospitality and logistics, Khunying Patama has long been recognised as a leading figure in both corporate and philanthropic circles. In 2024, she was honoured by the Thai Sports Journalists’ Association with the title “Olympic Queen” for her contributions to Thai and international sport.

Through her leadership, generosity and vision, Khunying Patama has not only shaped the trajectory of badminton worldwide but has also inspired countless young people in Asia and beyond.

Rukchanok Srinork, People’s Party (PP) MP for Bangkok, called on newly appointed Labour Minister Trinuch Thienthong to urgently address lingering issues within the Social Security Office (SSO), including the controversial purchase of the SKYY9 building.

Speaking during the parliamentary debate on the government’s policy statement, Ms Rukchanok urged the labour minister to expedite an investigation into the SSO’s purchase of SKYY9 at an overpriced rate, demanding that those responsible, whether ministers or senior officials, be held accountable within three months.

Opposition MP Rukchanok also pointed out that several ministers in the current government had links to the SKYY9 purchase, including Natural Resources and Environment Minister Suchart Chomklin, Public Health Minister and former building owner Pattana Prompha and Transport Minister Phiphat Ratchakitprakarn, who was the former labour minister, as well as Prime Minister Anutin Charnvirakul, who formed the probe committee to investigate the purchase of the building.

She further raised concerns about ongoing efforts to derail the Social Security Board election by amending regulations within the SSO, which would exclude employee representatives.

Ms Rukchanok also questioned whether the election would still take place in February 2026.

She added that proposals to change the system to an internal selection process were raised by a Senate committee member who had previously lost the Social Security Board election.

Sri Trang Gloves (Thailand) Public Company Limited (STGT) welcomed ambassadors and diplomatic representatives from 21 countries on an official visit to its Anvar Branch factory in Songkhla and Sri Trang Group’s rubber plantations, underscoring the strength of Thailand’s rubber glove industry and the promise of the southern border provinces.

The delegation included envoys from Australia, Austria, Belgium, Canada, Denmark, Finland, France, Greece, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Singapore, Spain, Sweden and Switzerland. They were joined by officials from the National Security Council, the Ministry of Foreign Affairs, Songkhla authorities and members of the media. The visit formed part of a project to enhance international understanding and cooperation, jointly organised by the National Security Council and Ministry of Foreign Affairs.

STGT, one of the world’s largest producers of natural rubber and nitrile gloves, operates 14 manufacturing facilities across southern Thailand. The tour highlighted the company’s fully integrated supply chain, traceability systems and Environmental, Social and Governance (ESG) initiatives under the theme ‘Clean World Clean Gloves.’ Visitors also observed glove production driven by innovation and AI, alongside natural rubber tapping demonstrations.

Mr Veerasith Sinchareonkul, CEO of Sri Trang Group, and Ms Jarinya Jirojkul, CEO of STGT, led the welcome. Mr Veerasith said the occasion was both an honour and an opportunity to showcase Thailand’s industrial potential while fostering sustainable cooperation.

‘This visit is not only a chance to highlight our capabilities but also a platform to build bridges for economic collaboration, social exchange and sustainable development,’ he said.

The event reinforced Thailand’s status as a global leader in rubber gloves and the industry’s role in driving growth in the South.

Two Thais have been named to the Time100 Next list of the world’s most influential ‘rising stars’: politician Natthaphong Ruengpanyawut and golfer Jeeno Thitikul.

Time magazine divided those chosen into five categories: Artists, Phenoms, Innovators, Advocates and Leaders. Jeeno, the world’s top-ranked female golfer at age 22, was named in the Phenoms category; and Mr Natthaphong, 38, the leader of the People’s Party, in the Leaders group.

A brief article on Mr Natthaphong traced the political circumstances – ‘two steps forward and one step back’ – that led to his ascent to the top position in the country’s largest political party.

The former tech executive was chosen to lead the People’s Party last year after the court-ordered dissolution of two predecessor parties – Future Forward and Move Forward – and the banning of their leaders.

‘The constitutional court’s ousting of [Former prime minister Paethongtarn Shinawatra] in August means fresh elections are looming, and many young Thais hope that Natthaphong can make the leap to the country’s top job,’ the magazine wrote.

‘Our vision is to reform politics, the economy, and reduce social inequality,’ Mr Natthaphong told Time. ‘We have to bring full democracy to our country.’ (Story continues below)

‘Complete’ golfer

Ratchaburi native Jeeno rose to the top spot in the Rolex women’s golf rankings earlier this year and leads in almost every statistical category in the sport this year.

Since joining the LPGA tour in 2022, she has won five tournaments and had a remarkable 52 Top 10 finishes, with nearly $13 million in career earnings to date.

Time magazine enlisted Lydia Ko, herself a member of the LPGA Hall of Fame at just 28 and also ranked third in the world, to write a brief essay about her friend and rival.

‘Most professional golfers are really good at one thing. For some, it’s their long game or iron shot, for others, it’s putting or chipping. But for Jeeno Thitikul, it’s everything,’ Ko wrote.

‘She motivates me to be a better player, and I feel lucky to be able to play alongside her.’

The Bank of Thailand (BoT) reported on Wednesday there had been no unusual movements in the country’s financial markets following the US government shutdown, and it was monitoring the situation.

In a statement, the BoT said businesses should manage their risks from market volatility.

Dollar eases to week low

The US dollar sank to a one-week low against major currencies on Wednesday as the US government shutdown unsettled markets and threatened to delay key jobs data, seen as crucial for Federal Reserve (Fed) policy decisions.

The shutdown commenced hours after the Senate rejected a short-term spending measure that would have kept government operations afloat through Nov 21. Senate Republican Leader John Thune said the chamber would vote again on the House-passed measure on Wednesday. The Senate is due to convene at 1400 GMT.

The dollar index, which tracks the US currency against six major peers, slipped 0.2%. The price action across the broader markets bore a few hallmarks of safe-haven buying, giving low-yielding currencies such as the Japanese yen and the Swiss franc a bid, while US Treasuries and gold held firm.

Safe haven or not?

Rabobank chief currency strategist Jane Foley said it was tricky discerning if yen strength was driven by safe-haven demand or speculation about the Bank of Japan (BOJ) raising rates.

“It’s a market that is not sure it’s supposed to be nervous. It’s not blindingly obvious that there is a very strong safe-haven bid. There are small pockets of evidence that there is.”

The dollar was down 0.5% against the yen, around its weakest in two weeks, while losing around 0.2% against the Swiss franc, another traditional safe haven.

US President Donald Trump warned congressional Democrats on Tuesday that letting the federal government shutdown would allow his administration to take “irreversible” actions including closing programmes important to them.

The US Labour and Commerce departments said their statistics agencies would halt data releases in the event of a partial shutdown. That includes Friday’s scheduled nonfarm payrolls release, considered key in determining whether a Fed rate cut is likely at the end of this month.

US jobs in focus

On Tuesday, a mixed reading for the Bureau of Labour Statistics’ Job Openings and Labor Turnover Survey, or JOLTS, pressured the dollar. The report showed US job openings increased marginally in August while hiring declined, consistent with a softening labour market.

In the absence of official data, more emphasis will fall on private-sector economic indicators. The ADP employment report is due later on Wednesday.

The length of any shutdown may be key for markets, as the Fed’s next policy decision on October 29 remains weeks away. Traders currently see a quarter-point cut as a near certainty, with market-implied odds of around 95%, according to LSEG data.

In contrast, traders are placing a roughly 40% chance the BOJ will raise interest rates this month. The central bank’s quarterly “tankan” corporate sentiment survey on Wednesday showed confidence among big Japanese manufacturers improved for the second straight quarter and firms maintained their upbeat spending plans.

BOJ officials have tilted more hawkish in recent days, including formerly dovish board member Asahi Noguchi, who said on Monday that the need for policy tightening was increasing “more than ever.”

“The BOJ does not actually appear especially worried about how Trump tariffs might affect the Japanese economy,” said Yusuke Matsuo, senior markets economist at Mizuho Securities.

Sluggish Europe

The euro shrugged off a survey on Wednesday that showed euro zone manufacturing activity slipped back into contraction last month, with new orders falling at their fastest pace in six months.

The euro, which gained 0.2% in September and is up 13.5% this year, rose 0.25% to $1.1763, around one-week highs.

A debate about street art has emerged in Bangkok, with some people calling for strict prosecution of vandals who defaced commissioned murals, while others argue that the acts were part of the normal ‘bombing’ culture in graffiti art.

The issue was sparked by a recent incident on Charoen Krung Soi 30, where an work painted by a Spanish artist under the ‘Krungthep Creative Streets’ project was damaged by three street vandals. One of them was arrested and faced charges on Monday while two remained at large.

Many people called the actions disrespectful to the original artist and unpleasant for the city’s image. Bangkok governor Chadchart Sittipunt visited the site and condemned it as unacceptable.

The Embassy of France in Thailand, which co-hosted the project with the Bangkok Metropolitan Administration (BMA), said on Facebook that the perpetrators had ‘damaged the beauty of the art’.

After the news emerged, more complaints about such behaviour from other parts of Bangkok and other cities were reported, with people asking authorities to step up efforts to find and prosecute the vandals.

The defaced, original murals were created under legal projects to revive selected neighbourhoods, but many graffiti artists also target empty spaces and do not obtain permission to paint. (Story continues below)

Some people maintain that the actions were ‘normal in graffiti bombing culture’, the idea being that painting over another artist’s work is a way to bluff and show power by applying quick throw-ups or tags.

Street art culture has evolved over the decades as a way to make a statement, usually against the prevailing social structure, in cities all over the world. Some practitioners, Banksy being the most notable, have raised it to a high art form.

Graffiti has been around forever but the style of expression most people are familiar with today originated in the 1960s in cities in the United States. Young people, most of them black, used graffiti to express themselves and advocate for their rights.

In Thailand, people generally regard graffiti as bad manners and vandalism. When the damage is done to a work that was created with permission from the property owners, it violates the Maintenance, Cleanliness and Orderliness Act.

‘People who witness unlawful painting or other damaging of government property can report via TraffyFondue,’ the BMA advises on Facebook, referring to the popular app for citizen complaints.

On Wednesday, a 17-year-old man was also arrested in Nakhon Ratchasima for damaging a portrait mural of Luang Phor Khun Parissudho, a famous monk who died in 2015. Police said the teenager admitted his wrongdoing.