Category: The Bangkok Post

Siam Paragon, the global destination long recognised as the number one ‘Top of Mind’ choice among Thai customers and international visitors, together with ICONSIAM, the world-class landmark on the Chao Phraya River, continue to create experiences beyond expectations. Driven by the strategy of Customer-Centric Experience, both destinations are committed to delivering superior service and ‘Meaningful Moments’ for their valued customers.

Most recently, the two destinations organised the exclusive event ‘Moonlight Dinner Cruise: A Mid-Autumn Celebration’, extending invitations to ONESIAM Black members for a special evening on the Chao Phraya River. The elevated dining experience was co-created with Okura Cruise, specially designed to present a memorable, one-night-only culinary journey. The event was graced by Saruntorn Asaves, Executive Vice President – Customer Centricity and Relationship Management, Siam Piwat Co., Ltd., and Thanaporn Tantiyanon, Managing Director of ONESIAM Shopping Center Business Group, who warmly welcomed ONESIAM Black members including Varunya Chatphiriyaphan, Grit Supadechoochai, Supatra Yoovidhya, Nipa Cholsaipan, Nam Cholsaipan, Chanya Sawangchit and Dao Sathienthirakul.

Commencing at ICONSIAM Pier, the evening began with a delicate welcome drink on the deck as 25 ONESIAM Black member couples admired 360-degree panoramic views and captured sunset photographs along the river’s most iconic landmarks. Guests then savoured the highlight of the evening-the Okura Cruise Seasonal Kaiseki, a premium Japanese haute cuisine experience co-created by Siam Paragon, ICONSIAM and Okura Cruise. Designed as a ‘First and Only’ menu, it combined refined flavours, textures, colours and presentation to reflect the beauty and philosophy of Japanese nature, crafted exclusively for this night.

To elevate the experience further, Siam Paragon and ICONSIAM collaborated with Boucheron, the world-renowned high jewellery Maison, to present an exclusive showcase of exquisite masterpieces on board. This intimate presentation offered ONESIAM Black members a rare opportunity to view Boucheron’s finest creations up close.

The evening culminated in a surprise performance by legendary artist J Jetrin Wattanasin, whose vibrant stage presence transformed the dinner cruise into an unforgettable celebration. His dynamic performance created moments of joy, excitement and exclusivity-embodying the promise of ‘Extraordinary and Money Can’t Buy Experiences’ that Siam Paragon and ICONSIAM are dedicated to curating for their most valued customers.

This event marked yet another ‘Meaningful Moment’ designed especially for ONESIAM Black members, reinforcing Siam Paragon and ICONSIAM’s commitment to delivering world-class, unforgettable experiences.

Thailand is working to expand its domestic cryptocurrency exchange-traded fund plans beyond Bitcoin to include other digital tokens, with the rollout expected early next year, according to the Securities and Exchange Commission (SEC).

The SEC and other agencies are drafting rules for new exchange-traded funds (ETFs) that could be offered by local mutual funds and institutions, secretary-general Pornanong Budsaratragoon said, elaborating on plans announced earlier this year.

‘Our possibility now is to broaden the criteria for the crypto, such as a basket of cryptocurrencies,’ Ms Pornanong said in an interview on Wednesday. ‘We want to have broader supply of those crypto assets in the ETFs.’

Thailand has been accelerating its push to become a regional crypto hub, rolling out policies to make tokenised products part of mainstream investment choices.

Like other regional markets exploring the digital space, the move could attract younger participants, especially as the stock market is down 7.6% this year. These efforts would come with new risks, however, and the SEC is seeking to upgrade its oversight powers.

Currently, Thai investors can gain crypto exposure by buying tokens directly or putting money into funds managed by licensed asset management companies that invest only in overseas cryptocurrency ETFs. The new initiative would go beyond those limitations.

‘Some investors, especially young people, prefer to have exposure in cryptocurrencies in their portfolios as a way to diversify,’ Ms Pornanong said. ‘One of our main tasks is to facilitate’ that demand.

Crypto momentum has picked up across Thailand’s financial markets. Major players such as Binance and Kasikornbank are targeting growth in the sector. Former prime minister Thaksin Shinawatra remains one of the country’s vocal crypto advocates.

The expansion of Thailand’s digital asset space coincides with the SEC’s push for a bill to broaden oversight powers. The proposal would allow the regulator to order companies to suspend major transactions if financial irregularities are found.

It would also empower the SEC to investigate market-impacting cases such as insider trading, rather than relying solely on limited police resources.

The bill has cleared initial screening by legal advisers to the government, and the SEC is in talks with the new administration to accelerate parliamentary approval, Ms Pornanong said.

‘Speedy enforcement against wrongdoers will definitely revive confidence in our oversight of the capital markets,’ she said.

The Tourism Authority of Thailand has launched the “Local Taste Local Thai” campaign, using authentic local food as a magnet to inspire a journey of genuine Thai experiences until Nov 15.

Held under the concept of “Grand Moment, Moment Of Giving”, the campaign is designed to create memorable moments for high-quality travellers and the expat community, support local communities and preserve traditional culinary heritage.

It is woven around four distinct travel lifestyles — Eco and Adventure, Wellness, Foodie and Sporty. These themes are linked to local dishes from four pilot provinces — Uthai Thani, Phuket, Trang and Songkhla.

The campaign aims to inspire travellers to explore lesser-known routes and to savour local food along the way, enriching their journey with a creative and unique touch.

To join the campaign, participants can purchase a 50% discount e-coupon via Line official account: @localtastethai. Each person can purchase up to 10 coupons per day. A special buy 10, get 1 free promotion is also available.

They can use the coupons to receive discounts on food and services at 63 participating restaurants, communities and activities across all five regions of Thailand, from now until Nov 15.

Every expense will be converted into points in the Taste Pass system and top spenders will receive special rewards from Bangkok Airways.

As the new government takes office at a time of renewed tension along the Cambodian border, international relations experts are urging coordinated policies, leadership-level engagement and a move away from confrontational measures.

Thailand should tackle the border dispute with Cambodia through cooperation, not confrontation, they said.

Panitan Wattanayagorn, an international relations scholar, said the administration of Prime Minister Anutin Charnvirakul faces “triple challenges” that are closely interconnected.

The first concerns foreign relations and security, including the border dispute with Cambodia and trade issues with the United States.

The second involves pressing domestic economic and social concerns. The third lies within the fragile political alliance between the ruling Bhumjaithai Party and the opposition People’s Party.

Assoc Prof Panitan said that while this government’s approach may not differ much from its predecessor’s, the urgency is greater because this administration is expected to serve only a four-month term.

“The government must carefully prioritise and ensure all agencies work in sync,” he said.

On the Thai-Cambodian border issue, he emphasised the importance of coordination between the Defence and Foreign Affairs Ministries.

Cambodia, he said, has traditionally welcomed new governments in Thailand with offers of cooperation, particularly on border management.

Cambodian Prime Minister Hun Manet recently sent a congratulatory letter to Mr Anutin, signalling his readiness to resolve disputes and restore relations.

“If Thailand responds positively, Cambodia will reciprocate. But if their overtures are ignored, they could adopt tougher measures, as they did with the past government,” Assoc Prof Panitan warned.

Restoring ties at the ambassadorial level, he said, would be an important first step towards easing tensions.

Assoc Prof Panitan said Cambodia has also pressed for the reopening of certain checkpoints, which have severely affected communities along the border.

Yet negotiations remain stalled at the Regional Border Committee (RBC) stage, with little progress towards the Joint Border Committee (JBC) stage.

Assoc Prof Panitan suggested the new Foreign Affairs Minister Sihasak Phuangketkeow explore humanitarian measures to open dialogue, such as establishing a corridor at Ban Nong Chan for displaced Cambodians, drawing on his earlier experience with Myanmar.

However, he cautioned that any such initiative would need the backing of the Defence Ministry to avoid contradictory signals.

“If the Foreign Affairs Ministry and Defence Ministry are not aligned, the military may tighten defensive measures, which Cambodia could portray as insincerity,” he said.

He also urged Mr Anutin to personally lead talks with Hun Manet, noting that Cambodia values leadership-level engagement.

Delegating the issue solely to ministers, he said, risks weakening negotiations.

An official visit to Phnom Penh, he noted, could demonstrate Thailand’s goodwill and readiness for bilateral talks.

Prapee Apichatsakol, a law lecturer at Srinakharinwirot University and vice president of the American Studies Association in Thailand, said rebuilding state-to-state ties must be accompanied by restoring trust between the citizens of both sides.

Relations between people, she said, have been damaged by disinformation and incitement on social media.

“The new government should move forward from the conflict and seek areas of cooperation that bring mutual benefits while maintaining security along the border,” she said.

Border fence

Both experts also expressed concern over Thailand’s plan to build a border fence to prevent encroachment from Cambodia.

Asst Prof Prapee compared it to the US-Mexico border wall, which deepened mistrust between the two countries. “A fence symbolises separation. It suggests we cannot live together and risks long-term damage to bilateral relations,” she said. While acknowledging that a fence might provide clearer boundaries and bolster security, she questioned its cost and social impact. She recommended dialogue through mechanisms such as the RBC, General Border Committee and JBC, or even under the Asean framework. A trusted intermediary, she added, could help guide negotiations and ensure agreements are clearly implemented.

Meanwhile, Assoc Prof Panitan agreed Thailand should tone down the fence plan, even if sovereignty concerns remain. As an alternative, he proposed “smart surveillance” systems, including drone patrols, which would strengthen security without provoking resentment from Cambodia. “We can create an invisible fence through technology that avoids hard feelings,” he said.

Prime Minister Anutin Charnvirakul has vowed zero tolerance for corruption as Digital Economy and Society (DES) Minister Chaichanok Chidchob launches a probe into an alleged 40-million-baht monthly bribe linked to call centre scams.

Mr Anutin, leader of the Bhumjaithai Party, on Thursday voiced full support for Mr Chaichanok, who is pressing ahead with the inquiry into the bribery allegation.

He insisted the minister would not relent in pursuing the matter and guaranteed that no corruption would be tolerated under his government.

The controversy erupted after Mr Chaichanok, son of Bhumjaithai patriarch Newin Chidchob, told parliament that a group connected to call centre gangs had offered him a monthly payment of 40 million baht in exchange for refraining from legal action against their operations.

DES permanent secretary Patchara Anantasilp said Mr Chaichanok had instructed that an independent central fact-finding panel be set up to ensure transparency.

The committee, expected to be named within days, will include representatives from the Central Investigation Bureau (CIB), the Department of Special Investigation (DSI), the Public Sector Anti-Corruption Commission (PACC), and the Anti-Money Laundering Office (Amlo). Mr Patchara will be the only DES official involved.

The panel has been given 30 days, with findings due by the end of October.

‘If any evidence implicates officials, the committee will act in accordance with the law. There will be no exemptions, even for DES staff,’ the permanent secretary said.

Former Democrat Party MP Nipit Intarasombat said he would petition the National Anti-Corruption Commission (NACC) to investigate the bribery allegations, claiming no political party was taking the matter seriously. He said he would act in his personal capacity as a citizen.

Responding to Mr Nipit’s move, Mr Anutin said: ‘Everyone has the right to call for an investigation. The facts must be clarified. This government has only been in office for two days, so any past irregularities must be uncovered. If wrongdoing exists, Mr Chaichanok will never let it slide.’

The prime minister dismissed suggestions that Mr Chaichanok’s disclosure could backfire, saying the minister was committed to integrity.

‘He is not corrupt, he despises dishonesty, and nothing can stop him,’ he added.

Property developer Magnolia Quality Development Corporation Ltd (MQDC) plans to generate residential projects for the over-50s in the mid- to lower-income segment, following a luxury project this year.

Thippaporn Ahriyavraromp, founder of MQDC, said the company had laid out a 10-year plan for developing residential projects for the elderly, starting with The Aspen Tree at The Forestias as its first project.

“Now is the time to embark on this plan,” she said. “We began with a luxury project as it provides resources for research, marketing, and creating the best model.”

Once the model is proven, MQDC plans to expand into the broader mid- and low-income segments, ultimately developing a social enterprise that brings together seniors and orphans, said Ms Thippaporn.

MQDC launched The Aspen Tree yesterday, a residential project designed as a holistic environment for independent living, targeting people aged over 50.

The project is equipped with flexible options for both sale and long-term rental to meet varying customer needs.

The Aspen Tree features 250 condos sized 82-120 square metres and 40 villas sized 183-201 sq m, along with a health and brain centre for seniors.

The average selling price is 360,000 baht per sq m, while rents start at 167,000 baht per month.

The Forestias is a mixed-use development spanning 398 rai on Bang Na-Trat KM7 Road, in Samut Prakan, comprising residential, commercial, and recreational components, including condos, villas, retail spaces, offices, a boutique hotel, and community facilities.

“The Forestias is designed to connect multiple generations within a single community, allowing residents to care for one another. With increasing life expectancy, it is now possible for up to four generations to live together,” Ms Thippaporn said.

The Forestias comprises Mulberry Grove, a cluster home project for large families; The Aspen Tree for single families or couples without children; and Whizdom, high-rise condos for younger generations.

“We believe separating seniors weakens their health compared with living in a family setting, while research shows children without grandparents at home perform worse academically, struggle in their careers, and face higher divorce rates,” said Ms Thippaporn.

Thailand faces increasing pressure from the global economic slowdown, attributed to the impact of US tariffs, the decline in its fiscal buffer and domestic political uncertainty, according to Fitch Ratings.

Speaking at the company’s annual seminar yesterday, Thomas Rookmaaker, senior director of the sovereigns group for APAC at Fitch Ratings Hong Kong, said Fitch expects global growth to decelerate to 2.4% this year, down from 2.9% in 2024, amid evidence of a US slowdown.

Greater clarity has emerged on US tariff policy, pointing to headwinds for most of Asia where exports are a key growth engine.

China’s exports have held up so far as they have partially been redirected to other markets, noted Mr Rookmaaker.

The slower growth also delays fiscal consolidation, resulting in public discontent sparking protests over governance and cost of living pressure.

Fitch’s recent outlook revision of Thailand’s BBB+ rating to negative from stable reflects rising risks to the country’s public finances from prolonged policy uncertainty, combined with slowing global demand, a delayed tourism recovery and household deleveraging.

Thailand’s fiscal buffers have eroded in recent years, although the government is able to finance its deficit at lower costs compared with peers and external finances form a relative strength.

Parson Singha, senior director of financial institutions at Fitch Ratings (Thailand), addressed the banking sector outlook and noted sector earnings and asset quality are deteriorating, with impaired loans rising, particularly among small and medium-sized enterprise clients.

Fitch expects bank performance to remain challenging in 2026 due to the weak economic environment, low loan growth and declining interest margins.

However, key loss absorption buffers such as loan-loss allowance coverage and core capital remain sound compared with regional peers and Fitch’s benchmarks.

These buffers are holding up banks’ standalone credit profiles, despite Thailand’s negative outlook for the sovereign rating.

The Department of Airports has announced an increase in the passenger service charge – commonly known as ‘airport tax’ – for outbound passengers at six regional airports in Thailand.

Both domestic and international travellers will now pay an additional 25 baht per person.

The affected airports are Krabi, Surat Thani, Ubon Ratchathani, Khon Kaen, Nakhon Si Thammarat and Phitsanulok.

The fee for international passengers has risen from 400 baht to 425 baht per person, while domestic passengers will now pay 75 baht per person, up from 50 baht. The fee is included in the ticket price.

Local media reported that passengers travelling between domestic airports have already seen the airport tax listed at 75 baht per person under the ‘fees and taxes’ section, in line with the department’s announcement, which took effect on Wednesday.

The increase applies only to department-operated airports that have introduced three new passenger processing technologies: automated boarding pass checks, self-service check-in kiosks, and self-service baggage drop systems, which allow travellers to manage their luggage independently.

Control Data (Thailand) Limited has been entrusted by the Government of the Maldives to serve as a consultant for the design of the Civil Registration, Vital Statistics, and Identity Management (CRVSID) system under the ‘Digital Maldives for Adaptation, Decentralisation, and Diversification (D’MADD)’ project. The initiative aims to transform citizen identity verification by making it secure, transparent, and equally accessible. The project will propel this geographically challenged nation towards a milestone on its path to becoming a digital country in line with international standards.

As part of the CDG Group, Control Data (Thailand) continues to strengthen its leadership role in Thai technology on the global stage. Having earned the trust of the Maldivian government, the company has designed and set the technological standards for the CRVSID system under the D’MADD project, with the objective of enhancing public services into a secure, internationally recognised platform. This project will play a pivotal role in reshaping the Maldives, moving from unequal access to government services to becoming a digital nation where citizens can access services equally and transparently, fully aligned with ICAO standards and recognised worldwide.

Mr Thaweesak Ninwatcharamanee, President of Control Data (Thailand) Limited, said:

‘The Maldives, comprising more than 1,000 islands, is currently facing challenges in ensuring equal access to government services due to fragmented population registry data and the absence of a unified system. This has led to limitations in management and policy-making, particularly for citizens living in remote areas or in vulnerable conditions who frequently face barriers to registration. Factors such as economic constraints, limited educational opportunities, and lack of awareness of fundamental rights have prevented many from accessing essential services such as healthcare, education, and social welfare, as they often lack complete legal documentation.’

The introduction of the new population registry and digital identification system will significantly enhance convenience through seamless integration with existing platforms. It will ensure smooth and secure identity verification for citizens accessing government e-services, such as tax filing and permit applications, supported by an updated database. This system will also cover the registration of births, deaths, and changes of residence, thereby providing an accurate population count. Such data is essential for developing targeted policies in key areas such as education, public health, labour management, and disaster response. Ultimately, the initiative will drive the government towards data-driven policymaking, reflecting three core values:

Equity: Citizens across all islands will have equal rights to access government services, reducing geographical disparities that have long posed barriers.

Transparency: A centralised population database shared across government agencies will eliminate duplication and strengthen accountability in public administration.

Trust: Compliance with ICAO standards, combined with biometric technologies and advanced data protection systems, will ensure citizens’ personal information is safeguarded in line with international standards.

What Control Data (Thailand) has initiated is not merely the development of a new system for the Maldives, but a transformative step in population registry and digital identification aligned with ICAO standards. This advancement enables secure identity verification and integration with global systems such as e-passports and e-KYC platforms in the financial sector. It marks a significant milestone, demonstrating how the Maldives can leverage technology to enhance the quality of life for its citizens.

‘This project is a crucial turning point for us, enabling our involvement in developing the national population registry to meet international digital standards. Our role extends from providing consultancy on the most suitable system architecture-whether software-based solutions or flexible platforms adaptable to local workforce capacity-to preparing the System Requirement Specifications (SRS). This transition will elevate the Maldives from a paper-based bureaucracy to a practical digital standard, while building trust across all sectors. It reflects the CDG Group’s guiding principle of ‘Technology for a Better Society,’ delivering genuine value to the people,’ concluded Mr Thaweesak.

Sales of trucks and motorcycles, as well as farmers’ incomes nationwide, continued to contract in August due to the economic slowdown, according to the Fiscal Policy Office’s (FPO) regional economic report.

Pornchai Thiraveja, director-general of the FPO, said new truck registrations declined across all regions, with those in the central region falling by 70.8% year-on-year, the South by 30.3%, the Northeast by 49.9%, the North by 57.7%, the East by 31.2%, the West by 55.4% and Bangkok and surrounding areas by 50.7%.

New motorcycle registrations also decreased in every region during August, with those in the central region dropping by 9.2%, the South by 14.1%, the Northeast by 15.5%, the North by 22.1%, the East by 3.1%, the West by 4.4% and Bangkok and surrounding areas by 9.7%.

Farmers’ incomes fell across all regions, with those in the central region declining by 16.2%, the South by 5.9%, the Northeast by 11.4%, the North by 26.8%, the East by 10%, the West by 9.6% and Bangkok and surrounding areas by 21.5%.

The FPO also conducted the Regional Economic Sentiment Index (RSI) for September, reflecting regional economic prospects over the next six months.

These prospects are still expected to expand, particularly in the eastern and southern regions, driven by improvements in the agricultural and industrial sectors.

However, issues such as volatile weather conditions, global economic and trade fluctuations as well as progress on stimulus measures require monitoring, noted the office.

All regional RSIs tallied higher than 50%, with the eastern region the highest at 75.4%, while Bangkok and surrounding areas were the lowest at 57.4%.

The eastern region’s future index reflects confidence in continued economic expansion, particularly in the services and investment sectors, as the high season for tourism brings festivals in many areas, said Mr Pornchai.

Measures to promote tourism and investment to develop tourist attractions and infrastructure from both the public and private sectors should also support the sector, he said.

Further stimulus measures and government policies to promote high-technology industries are anticipated, which should support the recovery of domestic demand and investment. As a result, the future economic sentiment index for the Eastern Economic Corridor rose to 79.9.

Meanwhile, the southern region’s RSI tallied 71.0, driven mainly by confidence in the services and investment sectors as the high season for tourism approaches.