Thai Baht trades at 35.98-36.04 against the US dollar

Thai Baht trades at 35.98-36.04 against the US dollar

Thai local currency closed at 35.98-36.04 against the US dollar after the market closed this afternoon (March 10), moderately appreciating from today’s morning trade session of 36.12-36.14 against the US dollar.

Thai baht became stronger today in line with regional markets while the US dollar currency has slightly depreciated. The mild devaluation of the US dollar currency was due mainly to worries over the US and global economic problems, growing amongst investors. Thai baht is prone to get weaker in the range of 36.00-36.10 against the US dollar.

As for other major foreign currencies, the Japanese Yen traded at 98.38-98.42 against the US dollar, stronger than this morning’s trading of 98.88-98.90 against the US dollar. At the same time, the Euro traded at 1.2700-1.2705 against the US dollar, stronger in this morning’s trading at 1.2636-1.2638 against the US dollar.

National News Bureau of Thailand
10 March 2009

Revenue collection for first 5 months of 2009 reaches below target

Revenue collection for first 5 months of 2009 reaches below target

The Director of the Fiscal Policy Office (FPO) has indicated a below-target revenue collection for the first five months of fiscal year 2009 due to the effects from the global economic slowdown.

Director-General of the FPO Somchai Sajjapong revealed that, in February 2009, the government could collect revenue worth 82.43 billion baht, lower than its target by 23.48 billion baht. The taxes which failed to reach their targets consisted of value added tax (VAT), automobile tax, and import duty.

Meanwhile, the revenue collection for the first five months of the fiscal year stood at 451.527 billion baht, lower than expected by 88.5 billion baht. Mr. Somchai addressed the decline as a result from the global economic slowdown, which had affected the country’s economy, combined with the previous government’s oil excise tax cut in compliance with its six-month six measures effective during October 2008 to January 2009.

However, the FPO Director affirmed that the Finance Ministry would closely watch over the fiscal condition and discipline in order to steadily maintain government expenditures.

National News Bureau of Thailand
10 March 2009

Cabinet agrees to get US$2 billion foreign loans

Cabinet agrees to get US$2 billion foreign loans

In an effort to boost the economy continuously, the Cabinet agreed to borrow two billion US dollars from three foreign sources to support its economic stimulus plan.

According to the conclusion from the Cabinet meeting chaired by Prime Minister Abhisit Vejjajiva today (March 10), the endorsement to get the loans would be forwarded to the House of the Representatives soon in a bid to seek an endorsement.

The loan amounting to one billion US dollars will be from the World Bank; while the rests will be sought from the Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA). In a separate development, the Cabinet also agreed to resort to a loan to finance the purple-line subway electric rail construction project, stretching from Bang Yai to Ratchaburana and Bang Yai to Bang Sue.

National News Bureau of Thailand
10 March 2009

SET Index edges up by 3.27 points

SET Index edges up by 3.27 points

Stock Exchange of Thailand (SET) Index gained 3.27 points or 3.27 percent to close at 414.54 points with a market value of 2.843 billion baht after the market closed this morning (March 10).

Top five most active values were as follows.

PTTEP increased to 88.00 baht, up by 4.00 baht with a market value of 585.07 million baht.

PTT increased to 144.00 baht, up by 3.00 baht with a market value of 312.78 million baht.

BANPU increased to 206.00 baht, up by 6.00 baht with a market value of 233.09 million baht.

SCB increased to 54.00 baht, up by 1.00 baht with a market value of 160.62 million baht.

ADVANC decreased to 81.00 baht, down by 2.50 baht with a market value of 138.21 million baht.

National News Bureau of Thailand
10 March 2009

Commerce Ministry speeds up seeking new export markets

Commerce Ministry speeds up seeking new export markets

Permanent Secretary for Commerce Siriphon Yodmuangcharoen said he would accelerate the search for new export markets for Thai products, after the Economist Intelligence Unit (EIU) forecast exports and gross domestic product (GDP) expansion to be negative worldwide.

Mr.Siriphon said that according to EIU forecast, GDP expansion of countries worldwide would decrease, while export growth would be two-digit negative. Asia would be negative all over the region, therefore the ministry had prepared to tackle the situation by finding new markets for Thai products, building Thai brand to be accepted, and adding values to products with intellectual property.

Besides Commerce Ministers worldwide had been instructed to study the structure of import and export in each country in order to expand market of Thai products, especially African and Middle Eastern markets, which were the focus of attention of Commerce Minister Phonthiwa Nakhasai who had traveled for trade talks continuously. He pointed out that in the United States and Europe, people still had purchasing power as they had good social welfare.

The Permanent Secretary added that export value expansion in February was still not better than in January, which was negative at 26.5 per cent but the Ministry would try its best to shore up the situation by focusing on agricultural products, which took a big portion of exports and involved up to 20 million workers. New markets would therefore be sought for agricultural products.

National News Bureau of Thailand
10 March 2009

Commerce Ministry changes cassava transfer control

Commerce Ministry changes cassava transfer control

The Commerce Ministry has changed the cassava transfer control, leaving only seven districts in three provinces to ask for permission before transferring.

Commerce Minister Porntiwa Nakasai said that the Central Commission on Prices and Services Control has agreed to change the regulation on cassava transfer control.

The existing regulation prescribes 24 border provinces to ask for permission before transferring more than 1,000 kilograms of cassava and cassava root both in and out of the provinces.

The new regulation will fix only seven districts in three provinces to ask for permission before transferring more than 5,000 kg of cassava and cassava root into the provinces.

BR> The provinces obliged with the new regulation include Mae Sot District of Tak Province, Ta Phraya, Khok Sung, Aranyaprathet and Khlong Hat Districts of Sa Kaeo Province, and Soi Dao and Pong Nam Ron Districts of Chanthaburi Province.

The Commission decides to control the transfer in the remaining seven districts since the areas are still at risk to cassava trafficking from neighboring countries, which will penetrate into the mortgaging scheme. Thai cassava farmers will then not receive the whole benefit from the project.

National News Bureau of Thailand
10 March 2009

ASEAN rally group arrives Thailand

ASEAN rally group arrives Thailand

ASEAN Family Rally 2009’ from Vietnam and Laos arrived Thailand this afternoon in Mukdahan Province on the Mekong River.

Mukdahan Provincial Center of Tourism, Sports and Recreation Director Narongsak Kubunya-arak and over 100 Thai-Vietnamese and students welcomed ‘ASEAN Family Rally 2009’ crossing the Thai-Lao border at immigration office near the 2nd Thailand-Laos Friendship Bridge at Mueang District of Mukdahan Province.

The rally is led by Sawannakhet Deputy District Attorney Suban Kaeomeexai and Quang Tri Center of Tourism, Sports and Culture Director Vien Van Yung, consisting of 80 people in 20 cars.

‘ASEAN Family Rally 2009’ project is organized by the Ministry of Tourism and Sports to encourage tourism routes in Thailand and other ASEAN members as Thailand assumes the Chair of ASEAN.

The rally will resume tomorrow (9 March) from Mukdahan Province to join with the group from Cambodia at Sirindhorn Museum in Kalasin. Then the rally will head to Phitsanulok, the intersection of Indochina.

Initially, Myanmar planned to join the rally but had to cancel its participation due to the closure of Thailand-Myanmar Friendship Bridge in recent days. The blockade of the bridge was the result of bus entrepreneurs in Mae Sot district of Tak province who were affected by the overlapping routes of vehicles from Myanmar.

The withdrawal of Myanmar group has left just 4 countries,Thailand, Laos, Vietnam and Cambodia to complete this historic rally.

National News Bureau of Thailand
08 March 2009

DDPM warns people of thunderstorms

DDPM warns people of thunderstorms

The Department of Disaster Prevention and Mitigation (DDPM) warns people to be prepared for coming thunderstorms during 7-10 March.

The Meteorological Department forecasts that a high-pressure belt from China will cover the Northeast, East and Central Thailand, resulting in an extremely hot weather. The high pressure mentioned will then bring thunderstorms and strong gusts.

DDPM Director General Anucha Mokkhavesa warns people of dangers from thunderstorms, especially in some areas that may face hailstorms. Mr Anucha advises residents to strengthen their houses and avoid staying near advertising billboards or any structures that tend to collapse. Farmers are suggested to brace their plantations to avoid damages from the storms.

Mr Anucha added that the department has advised Disaster Prevention and Mitigation Regional Centers in 40 provinces to assign officials to monitor the situation around the clock, and prepare equipments to cope with casualties while warning local residents to prepare for the storms.

National News Bureau of Thailand
08 March 2009

Thailand to host conference on atomic power use

Thailand to host conference on atomic power use

The Office of Atoms for Peace (OAP) reveals that 13 countries in Asia and the Pacific have confirmed their attendance in the conference on increasing productivity by atomic power use, which will be organized in Thailand during March 9-17.

OAP Secretary-General Sirichai Keinmeesuke revealed that Thailand would host a conference of the Regional Cooperation in Asia and the Pacific (RCA) Project on Raising Productivity in the Coal, Minerals and Petrochemical Industries by using Nucleonic Analysis System and Radiotracers during 9-17 March 2009 at Pullman Hotel in Bangkok.

Mr Sirichai said that OAP would assume the role of coordinator between Thailand Institute of Nuclear Technology (TINT), the organiser and the International Atomic Energy Agency (IAEA).

Currently, there are 13 countries confirming to attend the conference, namely Australia, Bangladesh, China, India, Indonesia, South Korea, Mongolia, Myanmar, New Zealand, Pakistan, Philippines, Sri Lanka and Vietnam.

Discussions on radiation technology in petroleum and coal industries as well as the use of low radioactive rays to trace radioactive leakage will be brought up in the conference.

The main goal of the conference is the most efficient and safest use and development of atomic energy in the region.

National News Bureau of Thailand
08 March 2009

CP aims to export more mangoes

CP aims to export more mangoes

Crop Integration Business Group,Chareon Phokaphand Group (CP) aims to increase exports of mangoes to 2,000 tonnes, targeting at Japan and Hong Kong, with sea freights helping the company to reduce transportation cost by 65 percent.

Mr Montri Congtrakultien, CEO and President of Crop Integration Business Group of CP said that the current global economic slowdown does not affect Thai fruit exports, especially for Nam Dokmai and Maha Janaka strains.

Last year, exports of the mangoes to Japan alone were up to 1,500 tonnes, followed by exports to Mexico and Philippines. It is expected that exports of the fruits will increase to 2,000 tonnes this year.

Mr Montri also said that the company has developed a technology to ship Maha Janaka mangoes to preserve the freshness and deliciousness of the fruits. The technology also reduced transportation cost of the company by 65 percent.

The company plans to increase its exports of mangoes to China and Hong Kong from 650 tonnes last year to 1,500 tonnes and further to 4,000 tonnes in 2010.

Mr Montri added that the company had a plan to export pomeloes to Japan, Singapore, Malaysia and other Middle Eastern countries, apart from the main existing markets such as China and Hong Kong. A 10,000-tonne export of pomeloes is expected.

Still, Mr Montri asked related Governmental agencies to help promote Thai fruits to international markets in order to help export sectors and Thai farmers.

National News Bureau of Thailand
08 March 2009

Rubber farmers warned not to plough their land

Rubber farmers warned not to plough their land

Rubber planters are warned not to plough their land during the dry season since such action will increase the evaporation of ground water and the withering of rubber trees.

Mukdahan Rubber Replanting Aid Operation Center Caretaker Director Thurapol Kanarbkaew warned rubber farmers not to plough their land during the dry season. He suggested farmers to cut grass and weeds instead of ploughing the whole plantation.

Rubber planters usually plough their land to prevent wildfires. Mr Thurapol said that although the method was effective, it would increase the rate of evaporation of ground water.

Mr Thurapol said that during the dry season, water in the ground would evaporate faster than usual and so would rubber trees wither, resulting in cracks on the tree trunks.

Farmers are advised to prevent damages to their plantations, especially rubber trees aged 2-3 years by covering the base of the trees with weeds.

He also suggests farmers to coat the trees with a mixture of lime and water at a ratio 1:1 left overnight, to protect the surface and the trunks of the trees from prolonged exposure to strong sunlight.

National News Bureau of Thailand
08 March 2009

Government sets up one stop service post to help investors

Government sets up one stop service post to help investors

The Government has established a "One Start One Stop" service post for investors at the Office of the Prime Minister to assist Thai and foreign entrepreneurs facing problems with their businesses.

Prime Minister Abhisit Vejjajiva revealed in the "Confidence in Thailand with Prime Minister Abhisit" this morning that his administration was pushing ahead with its effort to shore up the ailing economy with economic stimulation plans for the medium and long terms in the hope to attract more private investments.

The Prime Minister admitted that many existing regulations, created across a gambit of agencies, had become a long standing problem for Thai and foreign businesses, demanding both their time and capital. The Government's economic ministers have thus approved in principal the adjustment of investment regulations.

The government effort to aid businesses will include the establishment of a "One Start One Stop" service center at the Office of the Prime Minister. The post will gather authorities from all relevant agencies pertaining to investment so that they are ready to help entrepreneurs and reduce the costs involved in complying with investment regulations.

National News Bureau of Thailand
08 March 2009

Govt to overhaul school milk project in light of discrepancies

Govt to overhaul school milk project in light of discrepancies

The Prime Minister has confirmed the government’s preparation to improve raw milk quality and expand its market, revealing that plans have been underway to reorganize the system used for acquiring school milk.

Prime Minister Abhisit Vejjajiva asserted on his weekly “Having Confidence in Thailand with PM Abhisit” program this morning (March 8) that the surplus of raw milk in the market as well as the discovery of discrepancies in the purchase of milk to be used in school programs have not been left unheeded by the government, stating that a meeting among relevant ministers as well as agriculturalists has been called. As an initial resolution from the meeting, the premier said that the raw milk market would be expanded by extending the school milk project, currently available to children up to the 4th grade, to cover the 5th and 6th grades as well while the milk would be supplied for an increased 260 days per year. Current agreements with milk producers will remain effective until April 28, after which a re-evaluation of purchase prices will take place.

Speaking of suspicions of corruption in the school milk project, PM Abhisit said that zoning limitations for the purchase of milk will be lifted while local administrative organizations will be given the authority over the project for the time being. He assured that the government would reimburse any loss incurred by recent discrepancies in the project. The Prime Minister added that the quality of school milk would improve with the increase in number of boxed milk, which has longer shelf life than the bagged milk.

National News Bureau of Thailand
08 March 2009

FM to visit Myanmar to discuss illegal immigration problem

FM to visit Myanmar to discuss illegal immigration problem

The Minister of Foreign Affairs is preparing to confer with the Myanmar government over the illegal Rohingya migrant and illegal labor issues being faced by Thailand during his visit to the country this March 23.

Minister of Foreign Affairs Kasit Piromya traveled today (March 8) to Ranong province to meet with provincial Governor Wanchart Chaichana in the aim to clarify government policies. The governor also took the opportunity to inform Mr. Kasit of current problems troubling the area, including the illegal Rohingya migrants, which the minister in turn affirmed to bring up for discussions with the government of Myanmar during his visit to the bordering nation on March 23.

Ranong is currently facing many issues entering the province from the adjacent Myanmar, including illegal migration of the Rohingya people, illegal laborers, as well as smuggled wood.

Meanwhile, Mr. Kasit also held a government policy dissemination seminar at the Ranong Stadium with some 1,500 local residents in attendance.

National News Bureau of Thailand
08 March 2009