Category: The Bangkok Post

When the Bhumjaithai Party assumed government leadership earlier this year, one of its key tourism priorities was to restructure the Tourism and Sports Ministry, creating a dedicated Sports Ministry and merging the Tourism and Culture ministries.

This proposal is not new, raised by previous governments to promote tourism and sports more effectively. There are several approaches to managing and developing the tourism industry that depend on a strategic vision and long-term objectives.

WHAT ARE THE STRUCTURAL ISSUES?

In 2002, the Tourism and Sports Ministry was established under the Reorganisation of Ministries, Sub-Ministries and Departments Act.

The ministry is tasked with promoting and developing tourism and sports, while overseeing state enterprises, the Tourism Authority of Thailand (TAT) and the Sports Authority of Thailand.

The minister is responsible for enforcing key legislation, including the 2001 Tourism Council of Thailand Act, the 1992 Tourism Business and Guide Act, and the 1999 Boxing Act.

Yuthasak Supasorn, former governor of the TAT and current chairman of the Industrial Estate Authority of Thailand, said tourism is closely intertwined with a wide range of sectors, including the economy, culture, infrastructure, the environment, sports and even foreign affairs.

Although Thailand is heavily dependent on tourism, its public administration of the sector is marked by “fragmented governance”, with authority spread across more than 20 organisations under the Tourism, Culture, Transport and Interior ministries, he noted.

This fragmented structure has imposed significant hidden economic costs, as the lack of policy cohesion often results in overlapping budget allocations and inconsistent development, particularly when tourism marketing is not aligned with destination development.

The cumbersome administrative framework also slows decision-making, leaving Thailand struggling to keep pace with an increasingly competitive and fast-moving global tourism landscape, said Mr Yuthasak.

WHAT ARE SOME FOREIGN COMPARISONS?

Many countries have government bodies dedicated to the tourism industry, although their structures vary. Some have a standalone ministry or agency, while others combine tourism with sectors such as commerce, culture, infrastructure and sports.

“There is no perfect model for restructuring tourism ministries, as each has its own strengths and reflects the priorities of individual nations,” he said.

For instance, standalone tourism ministries in Italy, Mexico and the Philippines provide clear leadership in driving tourism and shaping a country’s image, enabling national strategies to be formulated more swiftly.

However, coordination with other ministries can be more challenging, increasing the risk of policy silos or fragmented implementation. This can expose countries that are heavily dependent on tourism to greater structural risks, said Mr Yuthasak.

Countries that merge tourism and culture ministries have been better able to strike a balance between conserving and making use of heritage sites, while also strengthening the promotion of their soft power, he noted.

China, which has been actively promoting domestic and international tourism since the pandemic, uses its Culture and Tourism Ministry to supervise policymaking, research, law enforcement, and coordinate the development of the culture and tourism.

Home to an ancient civilisation and cultural heritage, Egypt merged its tourism and antiquities portfolios into the Ministry of Tourism and Antiquities in 2019, placing museums and archaeological sites under a single authority. The ministry generates revenue through admission fees at attractions, with the proceeds used to fund restoration and facility improvements.

However, the cultural merging model may place excessive emphasis on cultural heritage, resulting in slower progress on broader tourism infrastructure, Mr Yuthasak said.

Meanwhile, Japan integrates tourism with infrastructure through its Ministry of Land, Infrastructure, Transport and Tourism. The ministry oversees the Japan Tourism Agency, which formulates tourism policy and supervises the Japan National Tourism Organization, responsible for promoting inbound tourism.

This structure enables tourism planning to be closely aligned with infrastructure projects, including airports, railways and ports, but tourism marketing may receive less attention as the government’s focus tends to be on physical infrastructure rather than visitor experiences.

Similarly, some countries integrate tourism with commerce. In Germany, the German National Tourist Board operates under the Federal Ministry of Economic Affairs and Energy. He said this reflects a view of tourism as an economic driver linked to investment and small and medium-sized enterprise promotion, although cultural and sustainability considerations may receive less emphasis.

Others have established dedicated tourism agencies, such as Azerbaijan’s State Tourism Agency. This model offers greater flexibility and project-based management, making it well-suited to developing national tourism destinations, although it can also create overlapping responsibilities and conflicts with key ministries, said Mr Yuthasak.

Thailand combines tourism and sports under one ministry, as do South Korea and Poland. This approach helps promote sports tourism and major events, but may lead to budget competition and a greater focus on event planning at the expense of long-term tourism development, he noted.

WHAT WILL THE NEW STRUCTURE LOOK LIKE?

Tourism and Sports Minister Surasak Phancharoenworakul said the restructuring aims to improve the efficiency of tourism and sports administration by separating the two sectors, while strengthening their contribution to the economy.

He said the Office of the Public Sector Development Commission is expected to submit the restructuring proposal to the cabinet this month, with the legal framework likely to be completed by the end of this year or early next year.

The TAT, the Tourism Department, the Designated Areas for Sustainable Tourism Administration and the Tourist Police are going to be transferred to the Culture and Tourism Ministry.

The culture permanent secretary assumes the role of culture and tourism permanent secretary.

Mr Surasak said the new ministry will continue promoting tourism and culture through the agencies under its supervision.

WHAT ARE THE PROS AND CONS OF THIS MERGER?

Sorathep Rojpotjanaruch, head of the Restaurant Business Club and honorary adviser to the Hostel and Small Accommodation Association Thailand, said the merger would help reduce overlapping budgets between two ministries, particularly for organising events and promoting soft power.

Culture plays a vital role in shaping Thailand’s brand and supporting tourism via gastronomy, arts and Thai traditions, he noted.

The Culture Ministry already oversees the conservation and redevelopment of cultural assets, including archaeological sites and temples, which are key tourism attractions.

However, tourism operators are concerned that tourism development could be overshadowed by the ministry’s conservation mission, at the expense of economic growth and business support, said Mr Sorathep.

“What if tourism marketing to promote heritage sites was scaled back to prevent overtourism and preserve the sites? We are concerned about the Culture Ministry’s conservative mindset,” he said.

Another challenge will be integrating workforces and ensuring a smooth transition, as any disruption could create a policy vacuum at a time when Thailand’s tourism industry faces mounting challenges, noted Mr Sorathep.

In addition, he said strong collaboration with other ministries is required, as the Interior Ministry regulates hotels and accommodation, while the Natural Resources and Environment Ministry oversees national parks.

Adith Chairattananon, honorary secretary-general of the Association of Thai Travel Agents, said tourism is an established revenue generator in Thailand. The nation should follow the lead of other countries that have invested heavily in tourism supply through dedicated ministry-led development.

Mr Adith also supported the idea of creating a tourism economics office within the new ministry, similar to those in the Agriculture and Cooperatives and Finance ministries, to strengthen policymaking by leveraging data, economic analysis and research.

He said tourism planning must increasingly embrace innovation and artificial intelligence to enhance Thailand’s competitiveness.

Mr Yuthasak said governance reform should extend beyond the reorganisation of these two ministries and instead constitute a comprehensive restructuring of Thailand’s tourism governance framework.

Citing research by the Organisation for Economic Co-operation and Development, he said countries with highly competitive tourism sectors share five common characteristics: whole-of-government integration, destination management, data-driven governance, public-private partnerships and strong national leadership.

Thailand’s tourism sector should be driven by a governance model comprising destination governance, a national tourism authority, and regional destination management organisations, said Mr Yuthasak.

Such a framework would help break down organisational silos, strengthen coordination across agencies, and unlock the full potential of the tourism industry to achieve sustainable growth in an increasingly competitive global economy, he noted.

The Civil Court has ordered Kasikornbank Plc to pay 1 million baht for failing to detect suspicious after-midnight transfers in the case of Thai-British actress Charlotte Austin, who lost 4 million baht to scammers in 2024.

The ruling was handed down on Wednesday in the suit filed against the bank by Miss Charlotte Co Ltd, which manages the Phuket-born actress’s assets and financial interests.

The fifth runner-up in Miss Grand Thailand 2022 was among the first Thai public figures to fall victim to scam gangs. Her case also encouraged other victims of similar scams to file police complaints.

Ms Charlotte, then 25, received a video call on Dec 7, 2024, from a man claiming to be an official from the Department of Special Investigation. He told her she was suspected of money laundering in a case involving scandal-hit Stark Corporation, which was in the headlines at the time.

The caller instructed her to transfer 4 million baht so that authorities could verify her innocence. Following the instructions, she made three transfers through the KBank mobile banking application, including two after midnight, while being forced to remain on a video call with the scammer.

The Criminal Court in May last year sentenced four defendants in the case to prison terms ranging from six to seven years.

The lawsuit, seeking 4 million baht in damages, alleged that the bank had breached its obligations under a deposit agreement.

The plaintiff argued that the transactions were clearly unusual and high-risk, but the bank failed to detect them or issue any warnings, resulting in financial losses.

Kasikornbank argued that its transaction monitoring and fraud prevention systems met industry standards and that the transfers were processed as ordinary transactions under its normal detection criteria.

Shared responsibility

After reviewing the evidence, the court divided its ruling into two parts.

It found that the first transfer of 2 million baht, made at 5pm, was a normal transaction and said the bank could not reasonably have known it was linked to a scam.

However, the court found that the second and third transfers, totalling 2 million baht, were abnormal because they were consecutive transfers made after midnight.

The court said the bank should have had more robust monitoring systems and safeguards to detect such suspicious activity.

However, it also found that the plaintiff had been negligent in transferring money to the scammers and ruled that responsibility for the loss should be shared equally between the plaintiff and the bank.

The ruling is consistent with an amended emergency decree introduced in April 2025 that mandates shared responsibility for financial fraud, based on each party’s level of negligence.

Kasikornbank was ordered to pay 1 million baht in compensation to Miss Charlotte Co Ltd, plus annual interest of 5% from Dec 8, 2024. The bank was also ordered to reimburse court fees proportional to the plaintiff’s successful claim and pay 20,000 baht in legal fees.

Nitithorn “Lawyer James” Kaewto, Ms Charlotte’s lawyer, said the ruling sets an important precedent for businesses in the entertainment industry, as well as the general public, seeking to hold financial institutions accountable for their handling of suspicious transactions, particularly those occurring late at night.

A prime suspect in a heroin trafficking network linked to the case of a Thai flight attendant detained in Australia was arrested in Phayao province on Thursday night, authorities said on Friday.

Police investigators apprehended Ekkawit Yongnichakul, known as ‘Rin Rin’, 41, who is accused of supplying heroin concealed in elephant-patterned tote bags before they were passed on to another suspect, Uthai Kunaphiwat, in the northern province.

The development is linked to the case of the 26-year-old flight attendant, known only as Meena, who was detained in Melbourne after authorities found 1.8 kilogrammes of heroin hidden inside the tote bags she was carrying.

Police said Mr Ekkawit was not the person behind the chat account ‘RoseRose’, who recruited Ms Meena to carry the bags to Australia. However, he is a close relative of ‘RoseRose’ and photographs show the pair travelling together.

During questioning, Mr Ekkawit said he worked as a seasonal agricultural labourer and lived in Chiang Kham district of Phayao. He admitted being hired to transport heroin concealed in elephant-patterned bags and said he was paid about 100,000 baht per delivery.

According to police, ‘RoseRose’ instructed Mr Ekkawit to buy the tote bags in Chiang Mai and leave them at designated roadside collection points.

Associates later collected the bags, concealed heroin inside and returned them to the agreed locations with 100,000 baht in cash. Mr Ekkawit then arranged for Mr Uthai to collect the bags and reportedly paid him 60,000 baht via a cash deposit machine.

Mr Ekkawit claimed the heroin was packed in Laos, but investigators said they have not confirmed where it was concealed.

According to investigators, Mr Uthai travelled by bus from northern Thailand to Ayutthaya province, then hired a black sedan to deliver the tote bags to the condominium where Ms Meena lived in Bang Na district of Bangkok, and to another location in Soi Suea Yai Uthit.

Investigators said Mr Uthai admitted involvement in five or six deliveries. But after discovering he had rented accommodation in Ayutthaya for more than five months, they think he played a larger role in the operation.

In another development, the Department of Special Investigation has obtained arrest warrants for four more suspects – three Lao nationals and one Thai – accused of smuggling heroin from Laos into Thailand.

The Thai suspect, identified only as Khlaeo, has already been detained, according to the Office of the Narcotics Control Board.

Authorities believe the smuggling case and the one involving the flight attendant employed the same trafficking methods, with Mr Uthai acting as the key link between the two operations.

The police Narcotics Suppression Bureau (NSB), meanwhile, has obtained an arrest warrant for ‘RoseRose’.

Investigators have been making substantial progress, Pol Lt Gen Achayon Kraithong, the NSB commissioner, said upon returning to Bangkok from Phayao on Friday evening.

He described ‘RoseRose’ as playing a role closely resembling that of a principal organiser within the trafficking operation. However, police believe there are still more senior figures at large.

Former prime minister Thaksin Shinawatra this week led his sister and daughter to meet with Indonesian President Prabowo Subianto in Jakarta for discussions reportedly ranging from global to wealth issues.

Former prime minister Paetongtarn Shinawatra, Mr Thaksin’s daughter, posted a Facebook message on Friday.

She revealed the meeting took place for talks on several issues, from economics to asset management and investment.

“The Indonesia president warmly welcomed three former prime ministers of Thailand,” she wrote to her Facebook. The third ex-premier present was Mr Thaksin’s sister, Yingluck Shinawatra.

The meeting was carried out at the private residence of Mr Prabowo on Wednesday, according the Indonesian presidential palace.

“The meeting took place in a warm and familiar atmosphere, while serving as a momentum to strengthen the long-estalished friendship between the two figures,” it added, citing a statement from cabinet secretary Teddy Wijaya.

Mr Thaksin is a member of the Danantara Advisory Council, which helps shepard the Danantara state investment management agency.

Previously incarcerated, Mr Thaksin was granted a royal pardon in celebration of Her Majesty the Queen’s 4th cycle birthday anniversary last month.

Oussama Thiangkham is relishing the opportunity to prove himself with the Thai national team after receiving his first senior call-up from head coach Anthony Hudson for the upcoming Asean Championship or Hyundai Cup.

After regularly performing with the U23 team, especially at the AFC U23 Championship finals in Saudi Arabia, Oussama, who was born to a Moroccan mother and a Thai father, said he aims to work hard to prove his worth after being given the chance to represent Thailand at senior level at the Asean tournament, which starts later this month.

“I am very happy and proud, as is my family. Being called up for the senior national team is every footballer’s dream. It filled me with pride and joy. My family is also happy and proud. I would like to thank everyone who has supported me throughout my career and also everyone at PT Prachuap, including the club president, officials, coaching staff, and all my teammates, who all congratulated me on this opportunity,” said the Thai-Moroccan left wing-back.

“Of course, when an opportunity comes, I have to work hard, improve myself every day, and try my best every time. Just being named in the squad isn’t enough. My focus is on helping the team as much as possible if I get the chance to play, proving myself, and creating opportunities for myself in the future,” he added.

Born in Casablanca, the 22-year-old player moved to Thailand last year and signed with Thai League 1 club PT Prachuap.

“I only moved to Thailand last year. Being selected for the national team is one of my goals, but as a footballer, there are many more. Today, I’ve ticked one box, but there are many more dreams I want to achieve, such as playing in a top league and developing myself to the highest level.

“I can’t say whether this opportunity has come too soon or not. In the past, I just told myself to work hard all the time, and I believe that when the time comes, I will be rewarded. Now that I have this opportunity, I have to continue working hard to show that I deserve it.”

Oussama also knows he will face competition to secure a starting spot in the national team but insists he’s ready to seize his opportunity.

“There are three left-backs in this squad, so getting that opportunity isn’t easy, but I believe that competition leads to development. Of course, I’m always ready for any opportunity. Actually, besides left-back, I can play as a defender and winger, but it depends on the coach and where he wants me to play to help the team as much as possible. I’m always ready, no matter the position.”

FOXBOROUGH, Massachusetts – France captain Kylian Mbappe missed a penalty but curled in a superb goal on the hour as France struck twice in six minutes to brush aside Morocco 2-0 on Thursday and book their spot in the World Cup semi-finals.

Mbappe, who at 27 became the youngest player to rack up 20 World Cup appearances, also bagged ?his 20th World Cup goal with a ?curling shot from just inside the box before Ousmane Dembele added another six minutes later with a low drive to set up a last-four meeting with Belgium or Spain.

Mbappe is the tournament’s joint top scorer with eight goals, level with Lionel Messi, and he trails the Argentine by one in the World Cup all-time scoring list.

“That’s three (semi-finals) in a row – it’s good,” France coach Didier Deschamps said. “It seems logical and natural, but you still have to get the job done. It was tricky, the penalty… when it’s Kylian. He never has any doubts.

“But we’re exactly where we wanted to be,” said Deschamps, who substituted ?Mbappe late in the game after a knock to his ankle. “We’re taking another step forward today, finding ourselves in the final four once again. It shows we’re right there in the mix.”

In a repeat of the 2022 World Cup semi-final, France, who have now kept clean sheets in all three knockout matches, looked the hungrier throughout with Morocco, aiming for a second straight last-four spot, badly missing injured forward Ismael Saibari, and failing to get a shot on target until the 84th minute.

“We ?are very disappointed, we wanted to advance,” said Morocco coach Mohamed Ouahbi. “We have to recognise that France is a great team with excellent players. France had the better scoring opportunities. We lacked ideas and freshness, and we have to accept this defeat. “Today France ?were stronger but we are able to compete and progress and maybe eliminate them in four years’ time,” Ouahbi said.

Morocco are co-hosting the 2030 World Cup with Spain and Portugal.

Mbappe equals Lloris record

The French, bidding to become only the third nation ?to reach ?three consecutive World Cup finals, started strongly with a couple of early chances.

Mbappe, who also equalled the all-time French record held by Hugo Lloris for World Cup matches, had an early opportunity with a low drive that Morocco ?keeper Yassine Bounou managed to tip wide.

France earned a 28th-minute penalty through Mbappe but Bounou calmly stood his ground, picked the correct side and smothered the France forward’s low effort. It was Mbappe’s first penalty miss for the national team since Euro 2020.

The title favourites also hit the crossbar in first-half stoppage time through Lucas Digne’s powerful long-distance drive, as defensive-minded ?Morocco struggled to reach their opponents’ box and did not have an effort on or off target in the entire ?first half, with Brahim Diaz as the lone striker.

Mbappe made amends for his miss on the hour mark with a quick look up and superb finish, and before Morocco had time to recover the twice world champions struck again through Dembele.

The forward, who forms a formidable frontline with Mbappe and Michael Olise, made use of the space opened up by Mbappe’s to rifle in the second goal and ?his fifth of the tournament.

“A mission? I don’t know but we ?can’t afford to let up,” Mbappe said. “There’s still a long way to go, and what lies ahead is even tougher, but we’ll recover well.”

The International Monetary Fund (IMF) has upgraded Thailand’s GDP growth forecast to 1.9% from 1.5%, supported by the government’s stimulus measures.

According to the IMF’s World Economic Outlook Update released on Wednesday, the uptick reflects the emergency fiscal measures and is supported by robust technology-related exports and investment.

The lender also raised its 2027 growth forecast for Thailand by 0.1 percentage points to 2.2%.

In its latest outlook, the IMF upgraded the growth forecast for Vietnam by 0.4 percentage points for 2026, rising to 7.5% thanks to robust technology exports and strong domestic demand.

The report maintained its growth forecasts for Malaysia and Indonesia at 4.7% and 5.0%, respectively.

However, the IMF cut its 2026 growth forecast for the Philippines by 0.2 percentage points to 3.9%.

Globally, the group projects economic growth of 3.0% in 2026 and 3.4% in 2027, down from the average of 3.5% recorded in 2024-2025 and broadly unchanged on a cumulative basis from its April projections.

The modest slowdown reflects the impact of the war in the Middle East, partly offset by stronger demand driven by the global technology cycle, particularly investment related to artificial intelligence (AI) and its wider adoption. The effects vary significantly depending on countries’ exposure to the conflict and their position in the technology value chain, noted the report.

Pipat Luengnaruemitchai, chief economist at Kiatnakin Phatra Financial Group, wrote on his personal Facebook page on Thursday the global economy continues to be driven by an AI capital expenditure cycle, benefiting exports and economic growth across several regional economies, particularly Taiwan, Vietnam and Malaysia.

Although Thailand’s exports grew 17% year-on-year during the first five months of the year, the country has benefited relatively little from the AI boom because Thailand’s technology-related industries remain concentrated in computers, hard disk drives (HDDs) and electronics.

Computers and HDDs account for only 3.3% of the value-added weighting in Thailand’s Manufacturing Production Index. The electronics industry contributes only about 10% of the manufacturing sector’s added value, despite recording solid export growth.

“Under this scenario, the added value and employment generated for the Thai economy remain relatively limited. Even if these sectors continue to expand at an extraordinary pace, they are still too small to drive the country’s economy,” Mr Pipat wrote.

As a result, Thailand needs to accelerate the transformation of its traditional industries to increase the value addition of its exports. Greater automation combined with workforce training would help strengthen the country’s long-term competitiveness, he said.

A search operation has been launched for four Buddhist monks who vanished after a bamboo raft carrying 12 monks broke apart while drifting along a canal in Kaengkrung National Park in Surat Thani province on Thursday night.

Park officials, local community leaders, villagers and rescue workers on Friday joined forces to search for the missing monks after the incident in Khlong Mui, located within Bang Yuan forest of Kaengkrung National Park, which stands in Vibhavadi district of the southern province, according to JS100 Radio.

Preliminary reports were that a total 12 monks had been travelling on a bamboo raft from Ranong when it broke apart on Thursday night, resulting in members of the group becoming separated.

On Friday morning, two monks emerged from the forest and sought assistance from a village headman, prompting the expanded search effort.

Rescue teams were initially able to located several of the group, some suffering from exhaustion due to a lack of food as well as minor injuries. They were taken to hospital for treatment.

As of 1.18pm on Friday, eight of the 12 monks were rescued, leaving four still yet to be found.

More than 20 national park officers and local residents continued searching the forest area on foot and by drone.

The Securities and Exchange Commission (SEC) is widening its investigation into whether false information reports linked to Supaporn Phimpong were intentionally submitted to the electronic reporting system, which is a violation of securities law.

The regulator has removed a series of securities acquisition reports filed by Ms Supaporn from its disclosure system after finding such information was inaccurate, said SEC secretary-general Pornanong Budsaratragoon.

An initial examination of seven controversial Form 246-2 filings covering six listed securities was completed. The reports, submitted on June 30 and July 2, were published via the SEC’s self-reporting disclosure system before irregularities were detected.

Following confirmation from the relevant listed companies that the reported transactions were inaccurate, the regulator removed all reports from the Form 246-2 system on July 8.

The SEC found multiple discrepancies, including that the reporting person’s name did not appear in shareholder registers, noted Mrs Pornanong.

Some securities cited in the filings did not exist during the reported period, while several reported acquisitions did not reflect actual transactions. In one case, a reported warrant exercise was found to be another person’s convertible debenture conversion, she said.

The investigation began after a Form 246-2 published by the SEC system showed Ms Supaporn as having acquired shares of True on June 15, 2026, equivalent to 3.2174% of total voting rights, raising her reported holdings to 7.0992%.

True said some details of the reports may be inaccurate because it never offered preferred shares to the public.

“The SEC is conducting a deeper investigation to determine whether the case constitutes an intentional submission of false information to the electronic reporting system,” said Mrs Pornanong.

The investigation is considering Section 302/1 of the Securities and Exchange Act, which prohibits submitting false or misleading information to the SEC that could materially mislead investors.

Authorities are collecting additional evidence and requesting explanations from those involved before deciding whether further legal action is warranted, she noted.

The probe also found the same individual submitted Form 59 reports despite not being a director, executive or other person legally required to make such disclosures.

Mrs Pornanong reiterated that the regulator is not under external pressure during the investigation.

“The SEC has followed its established protocols throughout this process. We will continue to coordinate closely with all relevant agencies and we welcome feedback from all stakeholders to improve the system,” she said.

SELF-REPORTING FRAMEWORK

Thawatchai Pittayasophon, deputy secretary-general of the SEC, said the filings were submitted through the regulator’s disclosure platform under the internationally adopted self-reporting framework, in which filers certify the information they provide is complete, accurate and truthful.

After True, Major Cineplex Group and four other listed companies denied the reported transactions, the SEC launched a verification process, contacted the filer and the companies concerned, flagged the reports to alert investors, and removed them once the inaccuracies were confirmed.

He said the SEC does not verify every filing before publication because the disclosure system is designed to balance speed and transparency with post-submission verification, ensuring investors receive market information quickly.

Requiring every filing to be fully certified before publication would significantly delay disclosures and reduce market efficiency, said Mr Thawatchai.

The SEC relies on a risk-based verification process, cross-checking reported information with listed companies, banks and other third parties rather than relying solely on documents submitted by filers, which could potentially be falsified.

Real-time verification is challenging because shareholder records maintained by the Thailand Securities Depository (TSD) are not updated instantly, meaning some transactions can only be verified after disclosure.

The SEC is enhancing its verification procedures and back-office monitoring systems, including exploring closer integration with TSD data and improving technology to identify suspicious filings more quickly.

The regulator is also coordinating with other authorities to investigate money trails and related parties where fraud is suspected, he said.

The move aims to strengthen investor protection while maintaining an appropriate balance between the speed of market disclosure and the accuracy of information released to the public.

A fire severely damaged a rubber smokehouse early Friday, causing losses estimated at more than 10 million baht.

The blaze broke out about 3am at the Thaweesap rubber smokehouse in Chang Klang district.

District chief Banyat Panarat ordered fire engines from local administrative organisations in the district and neighbouring areas to respond.

The fire engulfed the smoke-curing chamber, where a large quantity of rubber sheets was being processed, and spread rapidly. Workers and firefighters removed some sheets, but a substantial amount was destroyed. Firefighters spent more than four hours containing the blaze and brought it under control by dawn, though smoke was still rising later in the morning.

Preliminary investigations found workers had loaded a large quantity of raw rubber sheets on Thursday and lit the furnace as part of normal processing

Authorities believed that the fire started inside the curing chamber and spread through stored rubber.

Damage to smoked rubber sheets and the building is estimated at over 10 million baht.

Officials said losses were amplified by high rubber prices, with raw sheets selling for 83 to 85 baht per kilogramme and Grade 3 smoked sheets fetching over 90 baht/kg.

Mr Banyat said the smokehouse, owned by Sirinda Chansawat and run as a family business, is being assessed for quantities stored and salvaged.

The cause of the blaze remains under investigation.