Asianet Pakistan Private Limited

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Several provinces in the upper part of Thailand are taking a battering from the remains of tropical storm Bualoi, as floods have devastated vast residential areas, crippled infrastructure and inundated farmland close to harvest time.

In Loei in the Northeast, flash floods have caused widespread damage in four districts, affecting 221 households, two roads and a school. The Department of Disaster Prevention and Mitigation said heavy downpours on Tuesday worsened the situation.

Wang Saphung district was the most severely affected. Floodwaters inundated several roads, leaving small vehicles unable to pass, said Pol Lt Col Khunthat Veerasakdikul, acting chief of the Loei Disaster Prevention and Mitigation Office, said that.

In tambon Nong Ngiew, 198 households were flooded, while 11 homes were damaged in tambon Khao Luang. In Ban Ang of tambon Phu Ho, Phu Luang district, power poles collapsed and agricultural roads were destroyed.

In Muang district, the Nabon-Kang Pla road was washed away. In Phu Rua district, flooding in tambon Tha Sala affected 12 households. Meanwhile, in tambon Loei Wang of Phu Luang district, Ban Loei Tat Phatthana School was inundated.

Authorities have urged residents to remain on alert for flash floods, overflowing rivers and landslides, especially those living near rivers, canals and foothills. Local officials and rescue foundations have been mobilised to assist residents and assess damages. Rapid-response teams have been deployed to provide aid around the clock.

In Uttaradit in the North, flooding has affected several districts after the spillway at the Khlong Tron reservoir overflowed, said Rawee Lekuthai, a Pheu Thai Party MP for the province.

Three districts – Thong Saen Khan (two sub-districts, eight villages), Nam Pat (two sub-districts, five villages), and Tha Pla (one sub-district, five villages) – are already underwater.

The main economic zone of Thong Saen Khan was severely affected, with floodwaters reaching 1.5 to 2 metres. Many households, vehicles and farm equipment were submerged. Some residents, trapped by the sudden floods, had to climb onto rooftops to await rescue.

In Phrae, heavy overnight rains caused flash floods in tambon Pa Maet of Muang district. Runoff from Pha Kham and Khamin creeks swamped agricultural land and homes in Ban Maneewan and Ban Ton Ha.

Local officials rushed to help residents move belongings to higher ground. Pa Maet municipality has distributed food, drinking water and essential supplies.

Rescue units from the Prasat Boonsathan Foundation in nearby Phitsanulok province continued evacuations in tambon Nam Ang of Tron district in Uttaradit. Flash floods intensified overnight, leaving residents stranded.

Using flat-bottom boats, teams evacuated children, elderly residents and patients to safety despite fast-moving waters. Some residents were forced to wait on rooftops until rescuers arrived.

In Chai Nat, downstream from the Chao Phraya barrage in Sapphaya district, rising water levels have forced at least 15 families to abandon their homes and build makeshift shelters along rural road 3018. Many roads are now reduced to a single lane as evacuees continue moving to higher ground.

22 provinces affected in total

All told, floods caused by heavy rain and overflowing waterways were affecting communities in 22 provinces, mostly in the Central Plains and Northeast, disaster mitigation officials said on Wednesday. They are:

Mae Hong Son (Mae Sariang and Sop Moei districts), Phitsanulok (Chat Trakan district) and Uttaradit (Thong Saen Khan, Nam Pat and Tha Pla) in the North.

Loei (Wang Saphung, Phu Rua, Phu Luang and Muang districts), Nong Bua Lam Phu (Non Sang district), Khon Kaen (Nam Phong district), Maha Sarakham (Phayakhaphum Phisai district), Surin (Sangkha district) and Nakhon Ratchasima (Khong district) in the Northeast.

Prachin Buri (Nadi and Prachantakham districts) in the East.

Flood levels were stable in Prachin Buri and were rising in Uttaradit. They were receding in eight other provinces.

Meanwhile, waterways overflowed in 13 provinces and affected 274,979 people. Four provinces in the North were affected:

Phitsanulok (Wang Thong and Bang Rakam districts) with declining flood levels.

Phetchabun (Lom Sak, Lom Kao, Muang, Nong Phai, Bung Sam Phan, Sri Thep and Khao Khor districts) with stable flood levels.

Phichit (Sam Ngam, Pho Thale, Pho Prathap Chang, Bung Narang, Bang Mun Nak, Thap Khlor, Muang, Khong Charoen and Sak Lek districts) with stable flood levels.

Nakhon Sawan (Chum Saeng, Muang, Phai Salee, Phayuha Khiri and Krok Phra districts) with stable flood levels.

Eight affected provinces are in the Central Plains:

Uthai Thani (Muang district) with stable flood levels.

Chai Nat (Sapphaya district) with stable flood levels.

Sing Buri (In Buri, Phrom Buri and Muang districts) with rising flood levels.

Ang Thong (Pa Mok, Wiset Chaichan, Chai Yo and Muang districts) with stable flood levels.

Suphan Buri (Muang, Bang Pla Ma, Song Phi Nong, Don Chedi, Doembang Nangbuat, U Thong, Nong Yasai, Sam Chuk and Dan Chang districts) with stable flood levels.

Ayutthaya (Sena, Phak Hai, Bang Ban, Bang Pa-In, Phra Nakhon Sri Ayutthaya, Maha Rat, Bang Pahan, Ban Phraek, Tha Rua and Nakhon Luang districts) with stable flood levels.

Pathum Thani (Sam Khok and Muang districts) with declining flood water.

Nakhon Pathom (Bang Len, Muang, Sam Phran, Don Tum, Nakhon Chaisi, Kamphaeng Saen and Buddha Monthon districts) with stable flood levels.

The eastern province of Chachoengsao also had overflowing waterways in Bang Nam Prieo district, but flood levels were receding.

For the first time in its three-decade history, the nation’s largest book fair is tuning itself to a brand-new rhythm. With the theme “Melody Of Books”, the 30th Book Expo Thailand will return from Oct 9-19 at Queen Sirikit National Convention Center, promising not only a vast selection of books but also music, art and interactive experiences designed to inspire readers of every generation.

The Publishers and Booksellers Association of Thailand (PUBAT), which is organising the event, announced its readiness to stage the fair during a press conference last week.

Traditionally, these annual press events bring together celebrities, influencers and publishers to create a buzz ahead of the fair. This year, however, the atmosphere felt particularly vibrant, with a strong emphasis on creativity and cross-cultural exchange.

The front area of the conference hall at Queen Sirikit National Convention Center was crowded long before the programme began with hundreds of fans, students and book enthusiasts taking seats and pressing close to the stage.

Unlike in previous years, PUBAT revealed a major conceptual shift: a fusion of literature and music under the unifying idea “Melody Of Books”.

“Because books are poetry, music is melody,” PUBAT explained in its statement. The theme underscores the belief that storytelling, whether expressed through the written word or through rhythm and song, can enrich lives and connect people in profound ways.

The choice of theme was reflected in the lineup of special guests. Instead of only writers and publishers, this year’s press event brought singers, musicians and even athletes into the spotlight — individuals who embody creativity in many forms. Nattakorn Vuttichaipornkul, the newly elected president of PUBAT, emphasised how the fair seeks to embrace new media while preserving the centrality of reading.

“With the concept ‘Melody Of Books’, our organising team aims to present a new form of access to books, combining the world of letters with music and other creative media to expand the reading experience in diverse and contemporary dimensions,” Nattakorn said.

“You can choose to read books or listen to stories via podcasts or audiobooks. This reflects the fact that books are now being transformed into other formats. This is PUBAT’s effort to expand access to media and reading. It’s not just about physical books. All activities at this event are rooted in reading, with the goal of expanding the reader base.”

His remarks signalled PUBAT’s commitment to broadening the definition of reading in a digital age. By welcoming audio formats, multimedia platforms and interactive installations, the association hopes to draw in new generations of readers while keeping traditional book lovers engaged. The highlight of the press conference was a series of live performances by Thai artists who had been invited to interpret the theme musically.

Bell Warisara, from the Home Run Music label, debuted a specially-written song titled Lost To Read You, composed exclusively for the expo. Her performance captured the spirit of the event — melodic, emotional and rooted in storytelling. Other appearances included Nattakit “Nex” Chaemdara, frontman of the band BUS, indie-pop singer-songwriter Max Jenmana, and Kamonchanok “Noey” Kwanmuang, a SEA Games swimming medallist who shared her passion for literature.

Each guest spoke about their favourite genres, linking their personal reading habits with their artistic lives. Streaming rights for the music were also announced, allowing fans to incorporate the songs into their social media clips, adding a participatory element to the campaign.

For PUBAT, “Melody Of Books” is more than a decorative theme. It represents a deliberate attempt to modernise the fair’s image and broaden its reach. The organisers hope to attract not only habitual readers but also music lovers, families and young people who may not yet identify as book enthusiasts.

“This is the first time the fair has transformed itself into a new experience — enjoyable reading, beautiful listening and a wealth of shopping,” Nattakorn said. “The fair maintains a core focus on the value of reading, with fun, accessible activities that promote creativity.”

Over 900 booths from 400 publishers nationwide will participate, presenting more than 2 million books and launching over 2,000 new titles across genres. According to PUBAT, the expo is expected to welcome more than 1.3 million visitors across its 11-day run, with projected book sales surpassing 400 million baht — a 5% to 10% increase compared to the previous year.

“The current economic climate presents challenges,” Nattakorn admitted. “But we believe that the event’s colourful, fun, innovative format, along with the launch of thousands of new books, will draw readers to purchase their favourite titles and join in the activities.”

Beyond book shopping, this year’s expo will be rich with exhibitions, performances and family-friendly activities.

The “View ’til Touch” exhibition will offer an interactive showcase where books can be heard and songs can be read, blending text and sound through new technologies. Visitors can experiment with composing songs inspired by books and explore listening pods featuring audiobook samplings.

Children will be treated to the “Chao Khun Thong And Friends” puppet show, which combines live music and storytelling, while the “Little Read Universe” creates a playful reading space designed to introduce young audiences to the joy of books.

Women’s literature will take the spotlight in the “Chommanard Awards 2025” exhibition, which highlights works from across Southeast Asia. Competitive spirit will also find a place through PUBAT contest, a national event featuring categories in storytelling, songwriting to promote reading, and a high school debate tournament.

The expo is being organised in close collaboration with public and private partners, ensuring it aligns with broader cultural development goals. Social initiatives will also play an important role.

Projects such as “One Read, Million Awakening” will provide book scholarships to schools across the country, while the “Pick A Note” campaign invites participants to donate towards literacy programmes in exchange for chances to win prizes. These efforts highlight PUBAT’s belief in books as transformative tools for society, capable of inspiring individuals and strengthening communities.

As the 30th edition approaches, excitement is building not only for the books and bargains but also for the expanded cultural experience. PUBAT hopes this milestone fair will set a precedent for future editions, redefining what a book expo can be in Thailand.

“Get ready for a new reading phenomenon,” the organisers announced. “Enjoy reading, listen to beautiful music and shop till you drop! There will be countless great books and inspiring activities at the 30th Book Expo Thailand.”

The 30th Book Expo Thailand will be held from Oct 9-19, from 10am to 9pm, at Halls 5-7, LG Floor, Queen Sirikit National Convention Center.

HONG KONG – Visa-free travel abroad and free toll roads at home are expected to fuel a surge in travel by Chinese citizens during an extra-long holiday starting this week, in what analysts call a boon for the service economy.

Total trips outside mainland China are forecast to reach between 8 million and 8.4 million – more than double the 3.8 million recorded for the holiday in 2024 – according to travel marketing and technology company China Trading Desk on Monday.

Demand is “surging” for visa-free destinations such as Malaysia, Singapore and Thailand, the firm said. Long popular with Chinese tourists, all three have scrapped visa requirements since the coronavirus (Covid) pandemic.

Russia has also seen a rise in bookings by Chinese citizens following the introduction of a visa exemption rule in September, according to Fliggy, Alibaba Group Holding’s travel platform. Alibaba owns the South China Morning Post.

South Korea, a perennially popular spot for Chinese travellers, rolled out visa-free entry for tour group members on Sept 29 – a move that could have an “impact”, business consultancy Dragon Trail International said in a Sept 23 travel sentiment report.

The annual holiday, dubbed “golden week”, will last longer than usual this year. Coinciding with both the Mid-Autumn Festival and National Day, it runs from Oct 1 to 8.

The extended break will give travellers a head start and the chance to “cleverly” combine annual leave with the holiday, Fliggy said.

Airlines, hotels, car rentals and packaged tours are attracting more business as a result, Fliggy said. China’s US$41.1 billion hospitality market is expected to continue growing through 2030, according to market research firm Mordor Intelligence.

A growing number of overseas travellers can also enter China visa-free under measures aimed at stimulating the economy. But many may delay visiting the country until after Oct 8 to avoid crowds and higher prices, said Steven Zhao, chief executive of China Highlights, an online travel agency.

Still, free toll roads and expanded train services, especially during the holiday, should attract more domestic tourists than last year, Zhao said.

China has waived road tolls during public holidays since 2012 to spur travel and consumption. Self-driving trips, including those with rented cars, are expected to hit 1.87 billion this year – nearly 80% of the total, according to domestic media outlets.

Meanwhile, railway authorities are adding extra capacity through high-speed lines and night trains. More than 90 million tickets had been sold on the official online booking platform as of Sunday.

Long-distance tours within China are up 53% while car rentals have increased 93% over 2024 levels, according to Fliggy. Hybrid trips, which combine tourism and family visits, are also expected to increase.

“Notably, multi-destination travel is thriving, particularly among high-speed trains and a combination of flights and trains,” the firm said in a statement, noting that domestic tourists have a preference for theme parks, sporting events and cultural experiences this year.

Chinese spenders are “under-consuming big time” amid economic uncertainty but are making exceptions for travel – especially older generations eager to learn about other countries, according to independent economist Andy Xie.

“That’s life – before you die, you’re supposed to do these things,” Xie added.

Despite the near-term outlook for China’s tourism industry looking promising, the world’s second-largest economy remains burdened by a lingering property crisis, unemployment and trade tensions with the United States.

SYDNEY – Australian Rules football has started games with a centre bounce for more than 130 years, but from next season it will be ditched because umpires are finding it too hard to master the skill.

The country’s most popular spectator sport, similar to Ireland’s Gaelic football, traces its roots back to 1858 when spherical or oval balls were first used.

Since 1887, field umpires have been required to bounce the ball at the start of each quarter, rather than throw it in the air. A centre bounce after each goal was introduced four years later.

But mastering the skill has become a barrier for prospective umpires, according to Australian Football League (AFL) executive manager Greg Swann on Wednesday.

“The centre bounce has long been a part of Australian Football tradition, but as the game has evolved, there are several areas which will benefit from allowing umpires to simply throw the ball up at the restart,” he said in a statement outlining the change.

“Currently, umpire pathways are being narrowed by the requirement of the bounce.

“It is a difficult skill to execute, and we believe is preventing some of our best umpiring prospects from progressing any further in the AFL pathway despite having elite decision-making skills.”

The new rule will bring the men’s game in line with the women’s — the AFLW — where the ball has been thrown up rather than bounced since its inception in 2017.

Australian Rules is regularly played in front of packed stadiums, with 100,000 fans watching the grand final last weekend at the Melbourne Cricket Ground.

Brisbane Lions defeated the Geelong Cats to retain their title.

In the trial over the fatal shooting of former Cambodian MP Lim Kimya, the victim’s wife on Tuesday demanded the maximum penalty against the defendant.

Ana Lim Ani, the French wife of the 73-year-old politician, appeared in court as the plaintiff in the case. She detailed her loss to the court.

Lim Kimya was allegedly shot by Ekkalak Phaenoi, the defendant, in Bangkok’s Phra Nakhon district on Jan 7 of this year.

To celebrate spooktacular Halloween, Central Pattana unleashes 13 haunted houses featuring Thai ghosts at 13 Central shopping centres, nationwide.

Until Oct 31, “Thailand’s Halloween Fest 2025” is held under the concept of “House Of Horror: One House, Every Kind Of Monster” and offers special activities and promotions throughout the month.

At CentralWorld, visitors can expect a fancy parade, trick-or-treating, mini concerts, face-painting as well as costumes and accessories for everyone to dress up and immerse themselves in Halloween festivities.

Thirteen haunted houses with 13 concepts at 13 Central shopping centres nationwide are as follows:

Central Rama 3 hosts “The Haunted Farm” until Oct 18.

Brave “The Ward – The Haunted Hospital” at Central Udon until Oct 31.

Experience immersive horror “Nightmare District” at Central Hatyai from Oct 9-31.

Central Pinklao hosts “Unleash The Fear” from Oct 11-31 where visitors must survive five scary rooms.

For an extended Halloween, Central Ayutthaya’s “Scream House” awaits brave souls from Oct 15-Nov13.

Central Mahachai’s haunted house summons all spooky Thai ghosts from Oct 16-Nov 2.

Brave Central Salaya’s “Haunted School” from Oct 21-Nov 3.

“The Cursed 4th Floor” haunts Central Suratthani from Oct 21-29.

Central Si Racha stands out with a Japan-inspired haunted house. “Yurei Night – The Legend Of A Haunted Night In The Edo Period Of Japan” runs from Oct 22-31.

“Freeze – The Ghost Freezer” at Central Rayong challenges the brave ones to survive the nerve-wracking horror of an abandoned building from Oct 23-26.

Another extended Halloween takes place at Esplanade Ratchada from Oct 24-Nov 16. Experience horrors through all senses with “Art Meets Fear”.

Central Ladprao debuts its first haunted house, “Haunted Passage, The Cursed Tunnel”, from Oct 27-31.

The brave little ones are invited to join the inflatable “Halloween – Haunted House Maze” at Central Chanthaburi from Oct 31-Nov 2.

At CentralWorld, there are other Halloween-inspired activities to enjoy. On Oct 31, dress up in adorable ‘Little Monster’ costumes and enjoy trick-or-treating with candy and treats distributed throughout the shopping centre. From Oct 25-31, join Halloween workshops on the sixth floor. Find mini concerts on the first floor. Lastly, brave ‘The Haunted Gallery’ where Thai folklore and Japanese yokai culture are unleashed through the lens of various artists.

The other activities include Central Ramindra’s Halloween yoga on Oct 4, Central Udon hosts “Monsters On The Race” on Oct 26, while Central Korat hosts a Halloween run where participants run away from ghosts on Oct 31. Expect spooky parades at 20 Central branches nationwide! Spooky workshops take place at 28 Central branches nationwide. Some Central host Halloween-inspired markets, too!

Lastly, new Central X members who meet spending conditions at participating shops and F and B outlets between Oct 10-31 at Central shopping centres nationwide (except Central Rattanathibet and Central Krabi), receive a movie ticket from SF Cinema or Major Cineplex.

SURAT THANI – Nine students on a field trip received minor injuries when their chartered bus sideswiped a car and then veered off the highway in heavy rain in this southern province on Tuesday.

The crash occurred on Highway 44 (Surat Thani-Krabi) near kilometre marker 117+200 in Kanchanadit district about 4pm, Kanchanadit Rescue reported.

The double-decker bus was carrying 37 students and two teachers from Na San School in Surat Thani. They were travelling back from a field trip to Khanom district in Nakhon Si Thammarat, about 100 kilometres from the school.

The bus crew comprised the driver and two assistants.

Rescuers said it was raining at the scene. The bus had run off the road and into some trees before coming to a halt. It did not overturn.

Three boys and six girls, aged between 11 and 12, had complained of arm and leg pain after the crash and were taken to Kanchanadit Hospital.

A grey sedan was stopped nearby. It had damage to its front left side. Two passengers also sustained minor injuries, rescuers said.

Police said it appeared there was a small collision after which the bus driver lost control and the bus veered off the rain-soaked road.

The investigation was continuing.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The government’s revenue collection for the first 11 months of fiscal 2025 fell short of its target by 34.1 billion baht due to lower collections than projected from auto excise tax, corporate income tax, and value-added tax (VAT) on imported goods.

According to the Finance Ministry’s report, government revenue collection from October 2024 to August 2025 totalled 2.50 trillion baht, which was 46.8 billion baht or 1.9% higher than the same period the previous year, but still 1.3% below the target.

The shortfall was mainly attributed to weaker auto excise tax collections as the government offered tax incentives to promote the use of electric vehicles, while tax payments from the purchase of internal combustion engine vehicles were less than expected.

In addition, corporate income tax and VAT collected from imported goods were below target due to increased use of free-zone privileges and changing economic conditions.

However, revenue collected by other government agencies and remittances from state-owned enterprises exceeded projections.

Government revenues come from five main sources: the three tax-collecting departments, remittances from state enterprises, and contributions from other agencies such as the Treasury Department.

For the first 11 months of this fiscal year, all three tax departments collected amounts below their targets.

The Revenue Department collected 2.01 trillion baht, down 1.3% from its target, while the Excise Department amassed 489 billion, 11.8% less than its target, and the Customs Department collected 104 billion, a dip of 7.1% from its goal.

State-owned enterprises remitted 169 billion baht to the government for the period, 13.9% above target, while other government agencies contributed 203 billion baht, 26.8% above target.

Government revenue before tax refunds and VAT allocations to local administrative organisations, as required under the Fiscal Decentralization Act, amounted to 2.98 trillion baht. After these deductions, the government’s net revenue was 2.50 trillion baht.

A source at the Finance Ministry who requested anonymity said government revenue as a percentage of GDP has been steadily declining. In fiscal 2015, the percentage was 16.1%, declining to a projected 15% for fiscal 2025.

For fiscal 2026, the estimate is 14.6%, underscoring the need for fiscal reforms of both revenue and expenditure to ensure long-term fiscal sustainability, the source said.