Business News

Business News

Sunbelt Asia Business News

The Securities and Exchange Commission released new regulations in line with the Royal Decree issued last month for cryptocurrencies. All participants, including ICO issuers, digital exchanges, brokers and dealers involved with digital asset transactions, are required to register with the SEC and must also receive permission from the Ministry of Finance; the deadline for license applications is August 14. Issuers must make clear what kinds of tokens are being issued as well as investment information before they can obtain permission. The fee for digital assets dealers is 2 million baht and brokerage firms 2.5 million baht, in addition there will be an annual fee that will be a small percentage of the trading volume. Digital exchanges with a centralized exchange will need 50 million baht in registered capital while a decentralized exchange will need 10 million baht. Brokers for centralized exchanges will need 25 million baht in capital and for decentralized exchanges 5 million baht. The SEC will allow seven cryptocurrencies, used for initial coin offerings (ICOs), to be traded as trading pairs; Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Ripple, and Stellar. Each initial coin offering can be offered to institutional and ultra-high-net-worth investors at an unlimited investment amount, but investment is capped at 300,000 baht per person for retail investors per person and per ICO, or no more than 70 percent of the total value of tokens offered.

Low cost carrier NokScoot, a joint venture between Nok Air and Singapore-based Scoot reported a 32.9 percent jump in revenues with profits reaching 37.1 million baht in the first quarter, up nearly 10 million baht from the same period last year. The company, which flies out of Don Mueang, has launched a new flight to Narita Airport in Tokyo as well as serving Dalian, Nanjing, Qingdao, Shenyang, Tianjin and Xian in China, and Taipei, Taiwan. The airline, which expects to see passenger numbers jump 76 percent in 2018, is planning to debut new routes to Japan, South Korea and India later this year.

The National Broadcasting and Telecommunications Commission (NBTC) has been ordered to begin implementation of 5G by 2020 and will include implementing the NBTC's spectrum allocation roadmap for a variety of spectrum ranges as well as developing the infrastructure. AIS has only set aside 25 billion baht in 2018 for network capacity expansion after spending 120 billion baht from 2015 - 2017 but believes once 5G is in place will spend heavily to retain its competitive edge. Currently Thailand has 121 million mobile phone users with 40 million of those using their phones to access the internet. The value of e-commerce in Thailand hit 2.55 trillion baht this year and is expected to continue to see strong growth.

Business News

Jun 17 2018 >> New business registrations up 5 percent in May
Jun 10 2018 >> New regulations for digital asset exchanges issued
Jun 3 2018 >> Ministry of Labour considers removing some occupations from restricted list
May 27 2018 >> Second airports approved for Chiang Mai, Phuket
May 20 2018 >> New business registrations reach ten year high in April
May 13 2018 >> New BOI promotion incentives added for EEC
May 6 2018 >> Cabinet retroactively extends tax incentives for juristic persons registration
Apr 28 2018 >> Value of exports hit record high in March
Apr 22 2018 >> Domestic and foreign tourism numbers up for Songkran
Apr 15 2018 >> World Bank raises GDP forecast to 4.1 percent
Apr 7 2018 >> Foreign arrivals, domestic tourism expected to grow this Songkran holiday period
Mar 30 2018 >> New banknotes and coins to be issued April 6
Mar 24 2018 >> Thailand receives 7.1 million foreign visitors in January and February
Mar 18 2018 >> Jump in tourists expected for Songkran holiday
Mar 10 2018 >> Thai government will develop West Coast for high-end tourism
Mar 3 2018 >> New rules for landlords with 5 or more properties
Feb 24 2018 >> Tourism revenues grew over 10 percent in January
Feb 18 2018 >> Thailand is the Least Miserable Economy in the world
Feb 11 2018 >> Bangkok voted Best Destination City in Asia Pacific
Feb 3 2018 >> Thailand first in top countries to do business
Jan 26 2018 >> New business registrations reach 5 year high in 2017
Jan 20 2018 >> Applications for new 4 Year Smart Visa begin on February 1
Jan 14 2018 >> Thailand expects 400,000 Chinese tourists during Chinese New Year
Jan 6 2018 >> Consumer Confidence Index at 35 month high
Dec 30 2017 >> New 4 year professional Smart Visa expected to take effect this month
Dec 23 2017 >> Business registrations jump, exports reach 6 year high
Dec 17 2017 >> Applications for BOI priviliges in EEC rise
Dec 9 2017 >> E-commerce tax to be enforced for overseas companies
Dec 2 2017 >> New Minister of Tourism and Sports to focus on local communities
Nov 25 2017 >> BOI applications up, BOI privileges extended for the EEC
Nov 19 2017 >> Construction of first leg of high speed rail to Nong Khai expected to start next month
Nov 12 2017 >> Thai government plans to implement more reforms to ease doing business
Nov 4 2017 >> Thailand jumps to 26th in the World Bank's Ease of Doing Business report
Oct 28 2017 >> Women now make up 52% of visitors to Thailand
Oct 21 2017 >> Sunbelt Asia joins the nation in mourning HM King Bhumibol Adulyadej
Oct 14 2017 >> Low cost carriers expanding, tourist arrivals up
Oct 8 2017 >> New smartphone app for BOI work permit applicants
Oct 1 2017 >> Bangkok most visited city in the world
Sep 24 2017 >> International tourist arrivals up over 8 percent in August
Sep 16 2017 >> Pattaya tourism up 15 percent from last year
Sep 10 2017 >> Low cost carriers to expand routes once ICAO red flag lifted from Thai carriers
Sep 2 2017 >> New excise taxes to take effect September 16
Aug 27 2017 >> New Immigration auto-gate entry for Singaporeans at Suvarnabhumi
Aug 19 2017 >> Cabinet approves new 4 year visa for skilled professionals and investors
Aug 12 2017 >> Report ranks Thailand best country to start a business
Aug 5 2017 >> Economy grew in June due to export, tourism growth
Jul 29 2017 >> FPO predicts 3.6% GDP growth, 4.7% export growth
Jul 23 2017 >> Employment office to consider relaxing restricted occupations
Jul 14 2017 >> Thailand 3rd most competitive country in ASEAN
Jul 9 2017 >> New regulations for migrant workers delayed 6 months

Email Newsletter

Back To Top