Category: The Bangkok Post

Her Majesty Queen Sirikit The Queen Mother passed away peacefully at 9.21pm on Friday at King Chulalongkorn Memorial Hospital, the Thai Red Cross Society, the Bureau of the Royal Household announced.

The bureau said in a statement that a team of doctors monitoring and treating Her Majesty’s health at the hospital since Sept 7, 2019, found she had several illnesses and abnormalities in multiple systems that required ongoing medical care.

According to physicians, Her Majesty the Queen Mother developed a bloodstream infection on Oct 17, and despite efforts to treat her, her condition gradually deteriorated. She passed away peacefully at 9.21pm on Friday at the age of 93.

His Majesty King Maha Vajiralongkorn Phra Vajiraklaochaoyuhua has instructed the bureau to arrange Her Majesty’s royal funeral with the highest honours according to royal tradition. Her remains will be enshrined at Dusit Maha Prasat Throne Hall in the Grand Palace, Bangkok.

His Majesty has decreed a one-year mourning period for the Royal Family and Royal Court officials from the date of her passing.

Her Majesty The Queen Mother was born in Bangkok on Aug 12, 1932, as MR Sirikit Kitiyakara, daughter of Prince Nakkhatra Mangala and ML Bua Kitiyakara.

His Majesty King Bhumibol Adulyadej The Great (Rama IX), who ruled from 1946 until 2016, became engaged to her abroad. They married in Bangkok on April 28, 1950, when she was granted the title of Her Majesty the Queen. She was elevated to full Queen on his coronation day, May 5, 1950.

Her Majesty was revered for her lifelong devotion to the welfare of the Thai people. She dedicated herself to advancing rural development, women’s empowerment and the preservation of traditional Thai arts and crafts.

Thai Prime Minister Anutin Charnvirakul will have a meeting with US President Donald Trump in Kuala Lumpur on Sunday before a signing ceremony for a ceasefire deal with Cambodia, the government said in a statement.

The agreement the two countries plan to sign will be a ‘declaration’ and not a peace deal, but it will signal that they want to move toward normalising relations, a spokesman for the Ministry of Foreign Affairs said on Saturday.

The death on Friday of Her Majesty Queen Sirikit The Queen Mother had thrown into doubt the prime minister’s attendance at the Association of Southeast Asian Nations (Asean) meeting in the Malaysian capital.

Mr Anutin told reporters on Saturday that he would travel on Sunday to Kuala Lumpur for the signing, delaying his trip by one day.

He said the signing would be moved to the morning so he can fly back to Bangkok to attend a ceremony for the Queen Mother in the afternoon.

Trump had been pushing Thailand and Cambodia to sign a peace declaration during his Asia trip, and a spokesman for Mr Anutin said recently that the US president was using his demand for an agreement as a bargaining chip in trade negotiations.

Nikorndej Balankura, the foreign ministry spokesman, said in Malaysia on Saturday that the both the Thai and Cambodian sides were trying to move the signing to noon Sunday, earlier than originally scheduled, to accommodate Mr Anutin.

Mr Nikorndej said the two sides would sign a ‘declaration’, rather than a ‘peace deal’, as it states they are ‘committed to review their relations and work toward the resumption of normalisation and diplomatic relations’.

‘It’s just the beginning, it’s not an end in itself,’ he said, adding that Trump’s support for peace ‘is commendable and we appreciate that’.

The signing of the declaration is expected to be a key feature of Trump’s attendance at the Asean summit. The US president intervened to help secure a fragile ceasefire between the two countries after border tensions erupted into military clashes in July. He threatened at the time to block trade deals with the countries unless they stopped fighting.

Trump said en route to Malaysia that he was travelling to the country because of the role Prime Minister Anwar Ibrahim played in helping to halting the fighting.

‘One of the reasons I’m going to Malaysia is they were very, very much involved in the whole thing,’ Trump told reporters on board Air Force One.

‘Thailand and all. I told the leader of Malaysia, who’s a very good man, I said, I think I owe you a trip.’

Industry Minister Thanakorn Wangboonkongchana yesterday clarified the release of steel products from Sin Ke Yuan Steel Co, stating the released products were unrelated to the State Audit Office building collapse.

He said the decision to withdraw the seizure was made before he assumed office, and the first release was approved on Sept 12, involving 16,950 steel rods that had passed quality inspections.

Mr Thanakorn said the seized steel was related to a factory explosion and fire on Dec 18 last year, not from the collapsed building as circulated on social media.

“The steel was released only after meeting all required standards to ensure fairness for legitimate operators,” he said.

The minister pledged to continue cracking down on substandard and illegal steel products while ensuring fair treatment for manufacturers that comply with standards to boost confidence in the industry and among the public.

Ekanit Romyanon, secretary-general of the Thai Industrial Standards Institute, said the agency lifted the seizure orders on Sept 12 and Sept 30, covering 41,635 steel rods after verification by the Iron and Steel Institute of Thailand.

He said the seizure had initially been imposed after inspectors found that some steel failed chemical-composition tests and that weaknesses in the company’s quality control process were detected. Subsequent inspections, however, confirmed compliance with standards, leading to the release order, Mr Ekanit added.

Asian shares rallied on Friday as confirmation that the leaders of the United States and China would meet raised hopes for progress on trade talks ahead of a looming tariff deadline.

The SET index moved in a range of 1,281.80 and 1,321.57 points this week, before closing on Friday at 1,313.91, up 3.1% from the previous week, with daily turnover averaging 40.83 billion baht.

Brokerage firms were net buyers of 5.59 billion baht, followed by foreign investors at 5.54 billion. Retail investors were net sellers of 6.6 billion baht, followed by institutional investors at 4.53 billion.

NEWSMAKERS: The White House confirmed that President Donald Trump and Chinese President Xi Jinping will meet when they attend the Asia-Pacific Economic Cooperation (Apec) summit in South Korea next week, easing concerns over trade friction.

The US announced new sanctions targeting Russia’s two largest oil companies, Rosneft and Lukoil, a day after Trump shelved a planned meeting with President Vladimir Putin in an effort to pressure Moscow to negotiate a peace deal in Ukraine.

Gold prices were on track for their first weekly decline in 10 weeks, weighed down by a stronger dollar and easing concerns about trade. Spot gold was down 3.8% from a week ago, at around $4,060 an ounce.

China’s economy grew 4.8% year-on-year in the third quarter, keeping the country largely on track to achieve its full-year target. The reading was the weakest in a year but in line with expectations despite the ongoing real estate slump.

China’s industrial production climbed 6.5% in September, up from 5.2% growth in the previous month. Retail sales grew by 3%, in line with expectations.

Japan’s core inflation rose 2.9% year-on-year in September, up from 2.7% in August, keeping the Bank of Japan on track to hike rates and adding challenges facing new Prime Minister Sanae Takaichi.

Taiwan’s export orders in September jumped by 30.5% year-on-year to an all-time high of $70.2 billion, driven by continued expansion of AI infrastructure demand.

Bank Indonesia unexpectedly kept its policy rate unchanged at 4.75% on Wednesday, saying it would now wait to assess the impact of previous cuts and ongoing fiscal stimulus on the economy.

Tesla reported a steep 37% drop in net profit in the three months to September despite record quarterly revenue of $28 billion, up 12% from the same time last year. Sales were driven by increased US purchases ahead of the expiration of an EV tax credit.

General Motors raised its 2025 financial guidance after beating earnings expectations for the third quarter. Adjusted earnings excluding special items were $3.38 billion, versus $2.72 billion expected.

Vietnamese Prime Minister Pham Minh Chinh said the government would aim for record GDP growth of at least 10% in 2026. Growth this year was estimated at 8%, he told parliament.

Thailand’s cabinet approved a set of measures aimed at stimulating domestic tourism and spending during the high season from late 2025 to early 2026. They include personal income tax deductions, corporate tax incentives, a hotel renovation tax deduction, extension of the entertainment business tax reduction, and accelerated government seminar budget disbursement.

The Ministry of Finance will consider opening a new round of registration for the Khon La Khrueng Plus co-payment scheme, after all 20 million available slots were filled on the first day of registration.

The Bank of Thailand expects the co-payment scheme to help drive GDP to expand by 0.5% quarter-on-quarter in the fourth quarter, recovering from a 0.5% contraction in the previous quarter.

Thailand’s foreign tourist arrivals from Jan 1 to Oct 19 fell 7.45% from a year earlier, to 25.65 million, the Ministry of Tourism and Sports said. In the week to Oct 19, arrivals rose 6.6% from the week before to 556,000 despite a 5.3% fall in Chinese arrivals, which are down 29% for the year.

Car production rose 4.77% in September from a year earlier to 128,104 units, the Federation of Thai Industries said. Exports rose 7.2% to 86,056 units. For the first nine months of 2025, exports were down 10.4% to 689,031 units and production was down 4.6% to 1,075,801 units.

The Board of Investment (BoI) said Thai digital investment had risen from 25 billion baht in the first half of 2024 to 218 billion in the second half and to 522 billion in the first six months of this year, supporting data centre capacity growth from 300 megawatts to 3,000 MW within five years.

The National Broadcasting and Telecommunications Commission will propose an Internet Half-Half programme for state welfare cardholders next week. Participants are expected to receive internet service at 160 baht a month.

The Ministry of Energy confirmed it will end price subsidies for gasohol and biodiesel blends on Sept 24, 2026, after two extensions.

The Thai Retailers Association said its retail confidence index for the three months to Dec 31 reached a 12-month high of 63.8, reflecting optimism about government stimulus, particularly Half-Half Plus, which could increase sales by at least 10%.

COMING UP: On Monday, the US releases monthly durable goods orders, and on Tuesday the Conference Board announces the consumer confidence index. On Wednesday, the Fed and the central banks of Canada and Japan all announce rate decisions. On Thursday, Germany, the euro zone and the US will all release third-quarter GDP, the European Central Bank holds a rate meeting and China releases its manufacturing PMI. On Friday, the euro zone reports inflation and the US announces core personal consumption expenditure.

STOCKS TO WATCH: Asia Plus Securities says the SET is showing signs of recovery after falling 7% since Jan 1, underperforming regional peers. Analysts say easing external pressures and domestic stimulus could build more momentum.

Based on 60-day volatility and weekly returns, sectors showing lower volatility and growing investor interest are banking, insurance, ICT and energy. The brokerage recommends accumulating stocks in these sectors, favouring KTB, KBANK, BLA, TLI, ADVANC, PTT, PTTEP, TOP and CPALL.

Bualuang Securities recommends “forerunner” stocks: companies whose profits are expected to grow and recover strongly in the third and fourth quarters, with no significant earnings downgrades over the past three months and clear positive catalysts. These include ITC, COM7, CPALL, WHAUP, GULF and ADVANC.

Also recommended are “pace chasers”: firms projected to see a strong rebound in the final quarter through next year driven by sales recovery despite potentially weak Q3 earnings. Those include CENTEL, AOT, CPN, PTTGC and SCC. “Pace keepers”, expected to offer high dividend yields early next year, include KTB, with a projected yield of 6.5%.

TECHNICAL VIEW: InnovestX Securities sees support at 1,270 points and resistance at 1,335. Daol Securities sees support at 1,289 and resistance at 1,324.

Back in the 16th and 17th centuries, two-thirds of the Danish kingdom’s income came from taxes paid by every ship passing through the Øresund (‘The Sound’) Strait, the only exit from the Baltic Sea. Each ship had to declare its cargo — and if the Danes thought they were undervaluing it, Denmark had the right to buy it at the declared price.

The Danes don’t do that anymore, but they still don’t like to be jerked around. They were quite cross when unidentified drones forced them to shut down their airports on several occasions late last month, and Prime Minister Mette Frederiksen said that Russian involvement could not be ruled out.

She was being diplomatic. That was the week when Russian drones also violated Polish and Romanian airspace. Ms Frederiksen had good reason to suspect that the drones harassing Denmark were coming from a Russian-chartered ship off the Danish coast, so she or one of her aides came up with a devastating response.

This week, Royal Danish Navy ships began stopping and checking ships in the Øresund Strait. Not just any ships. Old oil tankers flying flags of convenience from low-rent countries that are heading for the North Sea and thence into the open Atlantic. Ships that belong to the “shadow fleet” transporting Russian oil to India, China and other Asian countries.

Fossil fuel sales account for between 30% and 50% of the Russian government’s budget revenue. Two-thirds of the country’s gas and oil is exported, and most of the exports used to go to Europe — until Russia invaded Ukraine in 2022. International sanctions then stopped most European sales, but Russia cut its prices and found new markets in China and India.

The problem was that while there were lots of pipelines connecting Russia and Europe, there were no oil pipelines and only one gas pipeline between the oilfields of northwest Russia and the new customers in Asia. Almost all of Russia’s fossil fuel exports now go by sea — 14,000 nautical miles from, say, Kaliningrad in the eastern Baltic to Qingdao in China.

To make matters worse, the sanctions regime makes it hard for Russia to charter ships from legitimate shipping companies and buy insurance for them. Instead, it has built a “shadow fleet” of almost a thousand elderly oil tankers (average age about 20 years), most of which would otherwise be on their way to the ship-breakers’ yards.

Their flags may change weekly, as may their names. Their insurance cover, if any, is dodgy, and their documents certainly do not say that they are carrying Russian oil. Their crews are multinational, with few or no Russians. Some transfer oil to other ships in the mid-Atlantic; others go the full distance in the same ship.

It’s a more expensive way of doing business, and there are more accidents, but until recently, Russian oil and gas exports were holding up fairly well. Oil income was down because Russian sales are heavily discounted, but there was enough money coming in to pay for the war and still keep the civilians contented (or at least quiet).

But now Denmark is stopping some of these “shadow” ships in the strait and boarding them. “These old ships pose a particular risk to our marine environment. That’s why we are tightening controls with very basic environmental rules,” explained Environment Minister Magnus Heunicke, but it’s really a legal excuse to stop them and get on board.

Then the Danish inspectors can examine the fake documents, discover safety issues, note the absent or inadequate insurance, and delay the ships or even detain them. Denmark only has so many inspectors, so not every ship of the shadow fleet is being stopped yet, but the number will grow. Mr Trump’s new sanctions on Russia’s two biggest oil companies will help a bit, too.

And in just a little while, the big oil terminals in Russia that pump the oil onto the ghost ships will be coming under direct attack. Ukraine doesn’t have to wait for Donald Trump to sell it Tomahawk missiles (indirectly, through Nato). Its new Flamingo missiles have the range to hit all three of the main terminals: Primorsk, Ust-Luga and Novorossiysk.

They are less accurate than Tomahawks, but their warheads are twice as big, and they are coming into high-volume production, so they can overwhelm Russian air defences with swarm tactics.

Ukrainian strikes on refineries and pipelines are already causing fuel shortages in Russia, but these new approaches will actually damage the whole economy. No single new weapon or tactic can decide the outcome of a war of attrition, but the odds are moving in Ukraine’s favour.

The State Railway of Thailand (SRT) has filed new lawsuits to reclaim 15 additional land plots in the Khao Kradong area of Buri Ram province, targeting individuals and companies occupying large parcels for commercial purposes.

The move follows earlier legal action on Oct 14 and 17 against occupants of 11 other plots.

According to an SRT statement, the new cases, filed with the Buri Ram Provincial Court yesterday, involve major holdings, including plots Nos. 600, 601, 602, 1095, 1096, 2767, 2869, 3188, 3195, 3863, 8626, 8662, 8811, 9235, and 25091. The agency said the lawsuits aim to protect public assets and safeguard its long-term interests.

Earlier this week, SRT officials held mediation talks with 35 villagers whose land utilisation certificates (Nor Sor 3) in the same area were revoked by an Appeal Court ruling in 2017. SRT Asset Co, a subsidiary of the agency, is preparing lease agreements to allow these villagers to continue using the land legally.

An SRT source said the 35 villagers are part of a larger group of 995 litigants in a land dispute covering 5,083 rai in Samed and Isan sub-districts of Muang district.

While some residents have accepted the court’s ruling, many remain anxious about rent and eviction.

Sudthai (surname withheld), 65, a former village headman, said locals have fought the case since 1968. Another villager, Yothin (surname withheld), 67, urged the SRT to lower rental rates, citing financial hardship.

The SRT reaffirmed its commitment to resolving the issue fairly and legally.

In 2021, the Supreme Administrative Court ruled that the Khao Kradong land forms part of the railway corridor and is state property, ordering the Department of Lands (DoL) to revoke the deeds it had issued and return the land to the state.

This year, with a recommendation from its special committee reviewing the overlapping title deeds, the DoL resolved against the revocation. The SRT thus filed its own lawsuits to assert ownership rights.

Real estate developer Central Pattana Plc (CPN) opened Central Krabi on Friday, the province’s first mixed-use project and the sixth in southern Thailand, with a total investment of 4.5 billion baht.

The project covers a total area of 114 rai, comprising 54 rai for Central Krabi mall, with 86,609 square metres of gross building area, the Baan Ninya Krabi residential project, a luxurious mountain-view villa, and the Phyll luxury resort-style condo and hotel.

The company expects to complete the project in five years and roughly 90% of the shopping centre’s space is open, said Nattakit Tangpoonsinthana, chief marketing officer at CPN.

He said the company sees economic growth potential in Krabi, as the province’s infrastructure and transport systems are increasing rapidly with the new terminal expansion at Krabi airport and the Andaman Sea Port Network expected to connect Krabi, Phuket and Phangnga as a comprehensive tourism hub.

The mall is targeting customers with high purchasing power in the South, as well as quality tourists, expats and long-stay tourists, with projected customer traffic of more than 25,000 visitors per day, Mr Nattakit said.

The mall features more than 300 national and local brands covering every lifestyle, including dining, drinking, shopping, health and entertainment.

Central Krabi aims to become the first Thai mall to achieve EDGE Zero certification, the global standard for green buildings, according to the company.

Kree Dejchai, president of residential business at CPN, said Krabi is transforming from a tourism city into a full-fledged investment city, with outstanding potential for economic, tourism and residential growth.

Average land prices remain attractive at 70,000-75,000 baht per square wah, which is half of Phuket’s average land price, indicating potential for long-term growth.

In response to growth trends in the real estate market, CPN expanded its portfolio and developed residential projects in the premium and super-luxury segments, with a total investment of more than 2 billion baht.

Mr Kree said these high-end customers are 80% Thai and 20% locally registered entrepreneurs.

With a total of 100 houses sold in phases, the company has sold out all 10 houses in the first phase of the Baan Ninya Krabi project, generating roughly 160 million baht. The buyers are entrepreneurs from Krabi and Phuket.

Four out of 10 houses in the second-phase development, priced at 16-25 million baht each, have been purchased by a local entrepreneur and foreigners, he said.

Moreover, the company began pre-sales for Phyll Krabi, its luxury condo project, on Oct 25.

The low-rise condo comprises five four-storey buildings, totalling 160 units, and is expected to be completed in 2028.

Mr Nattakit said the company plans to develop a hotel within this mixed-use project, but the hotel brand and specific area have not yet been decided.

Prime Minister Anutin Charnvirakul has approved a plan for Natural Resources and Environment Minister Suchart Chomklin to visit Sri Lanka to negotiate the return of two Thai elephants due to health concerns.

Mr Suchart announced via Facebook yesterday that he will travel to the South Asian country to oversee efforts to bring the two elephants, Pratu Pha and Sri Narong, back to Thailand, adding that Mr Anutin has approved diplomatic coordination between all relevant agencies to facilitate their return.

According to Mr Suchart, he will be accompanied by the permanent secretary of his ministry, the director-general of the Department of National Parks, Wildlife and Plant Conservation (DNP), and a team of veterinarians.

The delegation will examine the elephants’ health, assess their living conditions, and discuss their care with Sri Lankan authorities before bringing them back to Thailand.

Attempts to return Thai elephants to their home country have drawn public attention following the successful repatriation of Sak Surin, a Thai elephant who lived in Sri Lanka for 22 years and returned home for medical treatment in 2023.

Reports over the past two months revealed that Sri Narong and Pratu Pha, both gifted to Sri Lanka as symbols of friendship, are now in poor health after years of ceremonial labour.

Sri Narong, sent alongside Sak Surin in 2001, resides at Kelaniya Temple in Ratnapura, while Pratu Pha, sent earlier in 1980, is kept at Suduhumpola Temple in Kandy, about 105 kilometres apart.

DNP director-general Atthapol Charoenchansa said Thai citizens and elephant conservation groups in Sri Lanka have raised concerns about the animals’ welfare and requested their return.

He added that the DNP is scheduled to meet with the Sri Lankan Embassy in Thailand and elephant conservation groups on Tuesday to discuss concerns related to the elephants’ health and diplomatic procedures to bring them home.

Mr Atthapol said any decision must be approved by both governments and the temples that own the elephants.

He said Thailand no longer exports elephants abroad as in the past, and any future animal exchanges must ensure humane treatment.

According to the DNP’s data, between 2001 and 2016, Thailand sent 20 elephants to five countries, including Sri Lanka, Denmark, Japan, Sweden and Australia.

The government yesterday unveiled plans for the nationwide expansion of solar farms.

Under the programme, community solar farms would be established depending on the potential local demand, government spokesman Siripong Angkasakulkiat said.

The Provincial Electricity Authority (PEA) would handle power distribution for the scheme, which was discussed at yesterday’s meeting between Prime Minister Anutin Charnvirakul, Finance Minister Ekniti Nitithanprapas and Energy Minister Auttapol Rerkpiboon.

The Energy Ministry proposed the initiative to promote clean energy in local communities and, according to Mr Siripong, the prime minister also approved in principle a solar-powered water pump project covering 700,000 rai of farmland nationwide.

Plans to reduce the cost of water use while also stimulating local investment and economic activity are expected to go before the cabinet for approval on Oct 28, he said.

These two projects are part of the government’s “Quick Big Win” strategy to deliver concrete results within its four-month tenure.

Two more solar plans under the strategy include a tax rebate for households installing solar panels, benefiting about 90,000 homes nationwide, and the deployment of floating solar farms at the Bhumibol, Vajiralongkorn and Srinagarind dams.

Egat wants nine dams with 16 solar floating farms, adding 2,725MW to the power supply. According to the government, the solar initiative will help cut carbon emissions by 3.6 million tonnes a year.

The Democrat Party has outlined three key policy priorities as part of its preparations for the general election next year, party spokesman Pongsakorn Kwanmuang said yesterday.

He said the party’s policy workshop on Thursday, chaired by deputy leader Korn Chatikavanij, agreed to focus on three main areas that could be implemented immediately — boosting the economy, combating corruption and scam operations, and strengthening Thailand’s global role.

The meeting brought together party strategists from several fields to set a new policy direction. Participants included Gardee Liaopairoj, Rudklao Intawong Suwankiri, Werapong Prapha, Samart Ratchapolsitte and Apichart Sakdiseth.

The workshop followed the election of the new leadership in which former prime minister Abhisit Vejjajiva returned to lead the party.

Mr Pongsakorn said the party would come up with high-quality policies that resonate with the public’s demands, adding that to ensure fresh ideas and practical solutions, it would start with a “blank canvas”.

The party will also use data analysis to identify problem areas and work with social influencers and opinion leaders to improve its public perception, he said.

According to Mr Pongsakorn, Ms Gardee will oversee digital policy, Ms Rudklao will focus on children and women’s affairs, and Mr Werapong has the economic remit.