Baloobhai Patel buys extra Sh626 million stake in Absa Bank

Billionaire investor Baloobhai Patel has bought an additional 28.4 million shares of Absa Bank Kenya with a current market value of Sh625.9 million, entrenching his position as the bank’s top individual shareholder.

Mr Patel bought the shares in the eight months ended August, during which time his stake increased to 1.72 percent, up from 1.2 percent in December 2024.

Regulatory filings show his ownership increased to 93.4 million shares worth Sh2 billion based on Absa’s closing price of Sh22 on Thursday.

This was up from the 65 million shares he held in December 2024.

The bank shares have rallied by 16.7 percent since the beginning of the year, with investors attracted by the lender’s higher dividend payout and profit growth.

The bank has been increasing its dividend payout per share by Sh0.2 each in each of the last four years, thanks to improved earnings.

Last year, the bank paid a dividend of Sh1.75 per share, meaning Mr Patel was entitled to a dividend of more than Sh113 million before a five percent withholding tax.

Absa maintained an interim dividend of Sh0.2 per share when it announced its results for the half year to June 2025.

The interim dividend is payable on or before October 15 to shareholders who were on its books as of September 19.

State agencies’ scores tail off

The country’s critical information infrastructure agencies and regulatory agencies improved their cybersecurity scores this year, while government agencies recorded lower scores.

For critical information infrastructure agencies, their average score increased to 89% in 2025, up from 83% last year, while regulatory agencies posted a score of 91%, rising from 85% in 2024, according to Thailand’s cyberthreat risk assessment conducted by the National Cyber Security Agency (NCSA).

The average for government agencies dropped to 59%, from 65%.

This year 298 agencies, representing most state departments, participated in the self-assessment programme, of which 191 agencies submitted assessment results.

AVM Jadet Khuhakonkit, assistant to the NCSA secretary-general, said the agency is accelerating the elevation of cybersecurity threat protection standards to ensure Thailand is a stable and trustworthy nation.

AVM Jadet attributed the decline for government agencies to the increase in participation among agencies from various sectors this year.

This dip means there are significant cybersecurity gaps that need to be addressed, he said, especially in the areas of risk and vulnerability management, and cyberthreat response plan development and testing.

Other areas requiring attention include business continuity and crisis communications plan development, oversight of outsourced service providers, information asset registry development, threats detected, and risk trends.

NCSA and Mahidol University also identified the top three threats in Thailand: exploitation of internal vulnerabilities, unauthorised access to systems or data, and disruption or denial of service.

Threats are increasing from ransomware, supply chain attacks, cloud misconfiguration and phishing, demonstrating the need for Thai agencies to urgently address vulnerabilities and strengthen preventative and proactive measures, said AVM Jadet.

He said one approach to strengthen cybersecurity would be to invest in the existing National Threat Intelligence Platform, a national cyberthreat intelligence centre.

The platform started operations last year and collects, analyses, and shares data from all sectors with related agencies, in accordance with international standards.

“The platform enables critical infrastructure organisations and government agencies to respond to threats quickly and accurately,” said AVM Jadet.

The platform is operated by the Thailand Computer Emergency Response Team under NCSA’s umbrella.

D.O. to perform in Bangkok after dropping album

Exo all-rounder Doh Kyung-soo, better known as D.O., is scheduled to perform for Thai fans at his solo concert “2025 Doh Kyung-soo Asia Concert Tour “. Organised by GMM Show, the concert will take place at Impact Arena on Oct 11.

D.O.’s Asia concert tour is being held after he dropped his first full-length solo album Bliss in June. The album features the lead single Sing Along! — a fresh new vibe showcasing his versatility — which he co-wrote with well-known composer Zico. In September, D.O. released a track with pop-rock influence titled Dumb in which he collaborated with rapper Penomeco. Bliss offers various genres including ballad, rap, pop, bossa nova and chill lo-fi.

In addition to songs from Bliss, fans can enjoy songs from his other mini albums such as Popcorn and Simple Joys from Blossom, I’m Gonna Love You and It’s Love from Empathy, as well as Exo’s medley including First Snow, Don’t Go, Growl and Love Me Right.

The organiser GMM Show claims that Thai fans can expect an unforgettable night since the venue will feature a perfect stage setup so that fans can clearly see D.O. and soak in every second of the concert magic. The production will include amazing lights, sound and effects.

Tickets cost 2,900, 3,900, 4,900, 5,500, 6,000 and 6,500 baht and can be purchased at allticket.com and at Counter Service at all 7-Eleven branches in Thailand. A credit card installation plan is also available.

Keng Harit: From rural Phayao to Thailand’s hottest shaman

Harit ‘Keng’ Buayoi is a model and rising actor who stars in the hit Boys’ Love supernatural thriller Khemjira The Series (2025) alongside Napatsakorn ‘Namping’ Pingmuang. He first gained attention for his supporting roles in The Paradise of Thorns (2024) and from a viral clip of him as a ‘handsome Thai teacher’.

Teacher goes viral

Keng grew up in rural Phayao and graduated with a degree in Thai from the University of Phayao.

In his freshman year, he started dreaming about joining the entertainment industry and sought out opportunities, from modelling to competitions. He even put his studies on hold and moved to Bangkok, but the Covid-19 situation eventually forced him back home. Thinking his path was to become a teacher, he trained at a community school.

But then in 2021, an unassuming TikTok video changed everything. The internet discovered the ‘handsome teacher’ and he went viral overnight.

‘Jingna’ role changes outlookThat attention opened doors. DomundiTV noticed him, and GDH later cast him as Jingna in The Paradise of Thorns (2024) starring alongside Jeff Satur and Engfa Waraha.

Playing a durian farmer searching for stability, Keng connected deeply with the role.

Like Jingna, he came from an ethnic minority and once believed life was bound by fate. ‘But after playing him,’ Keng reflected in The Momentum, ‘I’ve learned to push beyond my limits. If I succeed, my family will live comfortably.’

Shining as a shaman

His biggest breakthrough came in 2025 with Khemjira The Series, where he starred as Master Paran, a gifted young shaman protecting Khemjira from a deadly family curse.

The series became iQIYI’s most-watched Thai drama worldwide, and the ‘handsome shaman’ hashtag racked up over 2.4 million mentions on social media.

Bridging gaps as an actor

Keng’s choice of roles often explores identity, from portraying ethnic minorities to LGBTQ+ characters.

As a Tai Lue actor, he hopes to raise awareness of his heritage. ‘Being a minority and reaching this point makes me proud,’ he said.

He also admitted initial hesitation in taking LGBTQ+ roles, as his hometown remains conservative. But after his family accepted it, others began to understand too. ‘At least my work helps bridge the gap between old beliefs and new ones,’ he shared with The Cloud.

From a rural village in Phayao to starring in Thailand’s most-watched series, Keng Harit’s journey is proof that perseverance and openness can turn limitations into new possibilities.

Be a Hero with the Fred Force 10

The idea of braiding sailing cables, fixed at both ends with rivets, and shaping a gold clasp like a marine carabiner led to the creation of the Force 10 bracelet in 1966.

Maison Fred has enriched the interchangeable buckle of its iconic jewellery with a 0.5 carat diamond in the exclusive Hero Cut with a diamond pavé amplifying the radiance of the central stone.

Launched in 2022, the Fred Hero Cut is inspired by the contours of both a sailboat and a shield. Recognised and certified by the Gemological Institute of America, its brilliance is fully revealed in each of its 36 facets.

Thanks to the meticulous faceting, the Fred Hero Cut ensures the diamond is of absolutely flawless clarity without any shadows.

The number of facets is a nod to 1936, when founder Fred Samuel — the Contemporary Creative Jeweller — opened his first boutique in Paris.

As his French parents emigrated to Argentina, he was born in Buenos Aires on Aug 3, 1908. During his childhood, he enjoyed holidaying in the seaside town of Mar del Plata, and after returning to France he fell in love with the Côte d’Azur.

His passion for the sea is reflected in the jewellery designs, such as the Force 10, which indicates a storm when referencing the Beaufort Wind Scale.

Synonymous with endurance, strength and will power, the new Force 10 bracelet in a large model comes in two versions with a steel cable and white gold buckle or both elements in pink gold.

Thai fuel prices to fall by B0.50 a litre

Retail fuel prices are being reduced by 50 satang per litre from 5am on Saturday as part of a series of government measures to ease the cost of living.

The Fuel Fund executive committee on Friday approved a reduction of the oil fund levy on diesel by 50 satang per litre, and sought cooperation from oil traders nationwide to pass the savings on to drivers, according to Energy Minister Auttapol Rerkpiboon.

As a result, the retail price of diesel at petrol stations in Greater Bangkok is expected to drop from 31.94 baht to 31.44 baht per litre. Prices of all types of petrol and gasohol are expected to be cut by the same amount.

Mr Auttapol said that although the levy collection was reduced, the Oil Fuel Fund’s financial position has shown steady improvement thanks to falling global oil prices, which have eased the pressure on diesel contributions.

As of last week, the fund posted a deficit of 17.8 billion baht, comprising a positive oil account of 24.4 billion and a negative liquefied petroleum gas (LPG) account of 42.3 billion baht.

Prices of LPG, or cooking gas, have been subsidised for years, sometimes by a substantial amount below the market price. However, the current price of 423 baht per 15-kilogramme cylinder is higher than the prevailing market price of 385 baht, so some money has gone back into the fund to reduce its deficit.

Energy officials are expected to review LPG prices and settle on a new rate that is closer to the market price in the near future.

The reduction in the contribution rate for diesel is expected to reduce the fund’s diesel revenue to roughly 31 million baht per day, from 61 million previously. Gasoline revenue is expected to remain steady at around 93.8 million baht per day.

Bayer Spotlights Innovations to Address Rising Health Challenges in the Asia Pacific Region

Bayer reinforced its commitment to advancing healthcare solutions for patients in the APAC region with very diverse healthcare landscapes and varying patient needs.

‘By 2050, heart failure cases in the Asia-Pacific region are projected to reach 74.5 million, a staggering 127.6% increase from 2025,’ stated Ashraf Al-Ouf, Head of Pharmaceutical Commercial Operations markets in Asia-Pacific at Bayer. ‘Amid these concerning projections, we are poised to address healthcare needs and bring new therapeutic options for patients across countries in East Asia, South Asia, Southeast Asia, and Oceania.’ In addition to Cardiovascular Diseases, Bayer is well positioned to tackle a range of healthcare challenges. Its product portfolio for the APAC markets includes therapies in areas such as Oncology, Ophthalmology, Women’s Health, and Radiology.

In addition, the company is accelerating its momentum through pharmaceutical innovation and clinical research. Currently, Bayer is conducting 34 ongoing clinical trials in APAC, demonstrating its dedication to advancing medical research and improving patient outcomes. Besides, the company has established two life science incubators in Asia: Bayer Co.Lab Kobe and Bayer Co.Lab Shanghai, which is the largest co-creation incubator in APAC. They are focused on fostering and promoting early-stage biotech innovation in areas such as Cell and Gene Therapy and Oncology.

Looking ahead, the APAC markets present significant growth potential for the company. ‘Bayer is leveraging its global expertise while adapting to local market dynamics in Asia- Pacific’, said Ashraf Al-Ouf, Head of Pharmaceutical Commercial Operations for markets in Asia-Pacific at Bayer. ‘We are investing in partnerships and collaborations with local partners that enhance our reach and effectiveness in delivering innovative solutions.’

‘Our research aims to provide a transformative therapeutic option for patients living with congestive heart failure’, explained Gustavo Pesquin, CEO of Asklepios BioPharmaceutical, Inc. (AskBio), Bayer’s wholly owned, independently operated subsidiary. ‘We work relentlessly to reshape what’s possible for those impacted by this severe diagnosis.’

After the first investments into the technologies, Bayer’s drug development pipeline in cell and gene therapies grew and comprises several programs in preclinical, early, and advanced clinical stages. In addition to cardiovascular diseases, key research areas in cell and gene therapies include Neurology, Rare Diseases, and Ophthalmology. This year, Bayer is advancing progress for patients with Parkinson’s disease, being the first company with both investigational cell as well as gene therapies for this condition. More precisely, the investigational gene therapy, currently in clinical Phase II, has received Regenerative Medicine Advanced Therapy designation from the Food and Drug Administration (FDA). The investigational cell therapy, which has also received this designation, is recruiting first patients in a Phase III clinical study. Australia has been included as one of the countries in Asia-Pacific in the clinical Phase III trial. Furthermore, Bayer has recently achieved a significant milestone with the FDA’s Fast Track designation for an investigational cell therapy targeting specific forms of inherited retinal diseases. It is the first clinical study using induced pluripotent stem cell-derived photoreceptor cells to restore vision for these patients by replacing damaged retinal cells with healthy ones.

In addition to its activities in cell and gene therapies, Bayer is driving different modalities across disease areas such as Cardiovascular, Oncology, Women’s Health, Radiology, and Ophthalmology. By advancing its portfolio of innovative products, Bayer remains committed to improving the lives of various patient groups around the world. Of note is Bayer’s recent pipeline progress: submitting a new low dose magnetic resonance imaging (MRI) contrast agent for marketing authorization in several countries worldwide; receiving the first approvals for a hormone-free treatment to relieve moderate to severe vasomotor symptoms in menopausal women; and providing a new treatment option for patients with advanced prostate cancer.

Aligned with its mission ‘Health for all, Hunger for none’, Bayer remains dedicated to shaping the future of healthcare through innovation, investment, and a steadfast commitment on improving patient outcomes in the Asia-Pacific region and across the world.

Thai minister aims to finally impose B300 tourism tax

Thailand’s new minister of tourism and sports has vowed to start collecting a 300-baht tourism tax during his four-month term and instructed the relevant parties to communicate the benefits of the scheme to visitors.

Artthakorn Sirilatthayakorn said on Friday that the tax is important because the proceeds go to fund insurance coverage for visitors as well as tourism infrastructure development.

He acknowledged the additional cost could affect sentiment, as foreign travellers have voiced concerns about it in social media discussions in the past.

The idea is far from new. It was first mooted in 2020 and finally received cabinet approval in February 2023. But the previous four tourism ministers were unable or unwilling to initiate collection.

Though a study was completed on the benefits of the tax, it still has not been adopted because of concerns about the potential impact on tourism sentiment.

The rate approved in 2003 was 300 baht per person for arrivals by air and 150 baht for land or sea entries.

Former minister Sorawong Thienthong vowed earlier this year to start collecting the tax by the end of 2025, but he later changed his mind.

‘If we impose this tax, we must communicate how much tourists could benefit from it,’ said Mr Artthakorn.

Speaking during a visit to the ministry on Friday, he said new campaigns were planned in the fourth quarter to lift spending and arrivals. By the end of October, the ministry also aims to finalise the budget that was left over from a 1.76-billion-baht domestic subsidy scheme.

The new administration has also emphasised the importance of ensuring tourism safety and finding a way to bring foreign arrivals back to the pre-pandemic level of nearly 40 million, the minister said.

Thailand is currently on course to welcome about 33.4 million foreign arrivals in 2025, down from 35.5 million last year.

Mr Artthakorn said he had set targets for the fourth quarter this year and the first quarter next year, but was not ready to disclose these figures yet.

Planned bad debt firm to cover 3.8m debtors

The asset management company (AMC) planned to address the bad debts of retail borrowers will cover 3.8 million eligible debtors with a total debt value of 120 billion baht, according to the Finance Ministry.

Finance permanent secretary Lavaron Sangsnit said the new AMC will be established as a joint venture between the public and private sectors. The company will take over debts of up to 100,000 baht per debtor from financial institutions, then restructure these debts to make monthly repayments more manageable.

This should ease the burden on small borrowers, allowing them more disposable income for consumption, which in turn will help stimulate the economy, said Mr Lavaron.

There are 1.4 million small borrowers with commercial banks that owe a total of 35 billion baht, and another 2.4 million small borrowers with non-bank institutions that owe 85 billion baht.

He said the funding for the AMC to purchase debts from financial institutions will come from allocations by the Bank of Thailand. These funds originate from contributions commercial banks are required to make to tackle the Financial Institutions Development Fund’s debt problem.

During the pandemic, part of this money was used to support entrepreneurs under the “Khun Soo Rao Chuey” (You Fight, We Help) programme. Of the 36 billion baht allocated, 26 billion remains and will be earmarked to establish the AMC, said Mr Lavaron.

New Finance Minister Ekniti Nitithanprapas stated in parliament during the government’s recent policy announcement the new AMC for household debt restructuring will increase liquidity for Thais.

For example, he said borrowers previously making instalment payments of 2,000-3,000 baht per month to financial institutions may, after restructuring, pay only 500 baht.

The household debt resolution policy was dubbed one of the government’s five key pillars to be implemented within four months. Other policies include:

Stimulating the economy and tourism through the “Khon La Khrueng Plus” co-payment scheme, expected to launch at the end of October.

Providing liquidity support for small and medium-sized enterprises (SMEs) by having the Thai Credit Guarantee Corporation provide guarantees totalling 50 billion baht for businesses in the supply chains of large companies. If large businesses support SMEs under the “Big Brother Helps Little Brother” scheme, the Revenue Department will allow these expenses to be deducted from taxes.

Increasing personal savings for retirement by having the Government Lottery Office allocate part of its marketing budget to savings accounts for those who purchase online lottery tickets. Each buyer receives an individual savings account that can be withdrawn at age 55. This programme is separate from the “retirement lottery” scheme.

Developing workforce skills for future industries, including bio-agriculture, smart farming, artificial intelligence and digital technology, data centres and electric vehicles. The Board of Investment has a Competitiveness Enhancement Fund worth 10 billion baht that can be allocated in collaboration with the private sector to select workers for reskilling and upskilling.

A moral exemplar

Re: “Legal eagles voice worries over Thaksin’s pardon bid”, (BP, Oct 1). Whatever naughtinesses he may have been accused of, it cannot be denied that Thaksin Shinawatra continues to prove a moral exemplar to the nation in at least two areas. The first is that he faithfully follows the traditional example of accumulating the greatest possible sufficiency of extreme wealth; the second is that he entertains as unfailingly as Lisa Manoban herself, albeit with his humorous approach to preached legal norms rather than with her doubtless impressive song and dance routines.

Like the best humour, Thaksin’s latest also makes a pertinent point. So, is that impertinence or what? So, add on another 15 years, no? Or are Arnon Nampa’s offences still way, way more serious than anything Thaksin or Prayut Chan-o-cha or Capt Thamanat Prompow have ever done?

Felix Qui

No to carbon tax

Re: “Climate Act, digital tools key to net zero”, (BP, Oct 2).

Now, the real reason behind climate alarmism is finally coming to light: carbon pricing — a tax on life that global planners (WEF, NV) have been trying to implement since the 1970s. I believe a carbon tax is a bad idea for the following reasons:

Carbon dioxide should not be seen as a pollutant but as a life-supporting gas essential to plant growth. Through photosynthesis, plants create food from CO2 and sunlight. Rising CO2 levels have contributed to global greening (the “aerial fertiliser effect”) and increased agricultural productivity. These benefits may outweigh potential climate risks, raising doubts about taxing CO2 emissions.

Uncertainty undermines the case for aggressive emissions cuts, since the link between reducing CO2 and lowering extreme weather impacts is tenuous. Cost-effective defensive measures — such as infrastructure improvements — are more reliable than global CO2 controls.

Policy priorities should be: eliminating harmful energy regulations, pursuing localised defences against extreme weather, and considering Pigouvian CO2 taxes only with broad international cooperation. Otherwise, unilateral emissions reductions risk economic harm and energy insecurity.

Anna Aarts

Fence or fiction?

Re: “A border fence too far”, (Editorial, Sept 2).

I have seen various items on social media that Thai people have contributed vast sums of money in order to construct a wall between Thailand and Cambodia. On the other hand, however, I have neither seen anything in the newspaper nor heard anything from the government about undertaking such a project. So are there approved plans to, or is someone perpetrating a tremendous scam on the people?

Wondering

Crank column

Oh dear, PostBag has degenerated into a tit-for-tat rant fest again. I have many times requested a crank column be inserted somewhere else, possibly in the Life section. I almost miss Eric Barht’s contributions, not that I agreed with him on most things. I assume he has retired from PostBag or moved to a different platform.