Thailand’s SET Index closed at 1,451.96 points, increased 1.14 points or 0.08% with a trading value of 43.68 billion baht. The analyst stated that the Thai stock market was buoyed by GULF and the others that recently announced a partnership with Siam AI, Thailand’s first Nvidia Cloud partner. The analyst expected the SET Index next week to move sideways with low trading volume due to a day off on Tuesday. Additionally, the lower-than-expected US payroll announcing tonight should bode well as positive sentiment for the Thai stock market.
PTT Public Company Limited (SET: PTT), Thailand’s largest oil and gas corporation, has selected UBS Group AG and Bualuang Securities, a subsidiary of Bangkok Bank Public Company Limited (SET: BBL), to assist in assessing its deal options for downstream businesses, according to the people close to the matter. The move aims to optimize operations and enhance asset valuations.
Thailand’s energy conglomerate is exploring multiple options, which could involve merging some businesses or attracting equity partners to secure capital, the people said. However, these deliberations are still in the early stages, and PTT may ultimately decide against entering into any transactions.
Following the debt-to-equity conversion of Thai Airways, Bangkok Bank Public Company Limited (SET: BBL) received additional 10.35% of THAI’s shares, combining with existing 0.43% shares to a total amount of 10.39% of the shares. This makes BBL the second largest shareholder of Thai Airway.
Additionally, Krung Thai Bank Public Company Limited (SET: KTB) also acquired 5.73% of THAI’s shares through a similar method. This makes KTB the third largest shareholder of Thai Airway.
The receiving of shares by BBL and KTB is part of Thai Airway rehabilitation plan to turn debt into capital, as both banks are THAI creditors.
Thailand’s Prime Minister, Paetongtarn Shinawatra, has dismissed immediate plans to elevate the value-added tax following backlash against a proposal by Finance Minister Pichai Chunhavajira.
This proposal, which suggested more than doubling the VAT to 15%, faced staunch opposition from both the main opposition party and a critical member of the ruling coalition.
Thaicom Public Company Limited (SET: THCOM), a leading Asian satellite and space tech company, announced that on 5 December 2024, its 100% own subsidiary IPSTAR (India) Private Limited (IPSTAR India) has obtained an authorization to provide satellite services over THAICOM satellites in India from the Indian National Space Promotion and Authorization Center, or IN-SPACe, an autonomous nodal agency under Department of Space, Government of India to promote, enable, authorize and supervise non-government entities (NGE) to undertake space activities.
