THAILAND MACROECONOMICS WEEKLY UPDATE

MEDIA AND PUBLISHING 

Asphere Innovations Public Company Limited (AS)

Asphere Innovations Public Company Limited, a prominent provider of online entertainment services, including online gaming and game operations in Thailand and Southeast Asia, has made a strategic investment of approximately THB 600 million, acquiring a 9.22% stake in Bitkub Online Company Limited. This collaboration aims to revolutionize the gaming industry by developing the Astronize platform, which will transform conventional games into “Play and Earn” models through the integration of blockchain technology.By leveraging blockchain, the Astronize platform will enable in-game players to conveniently exchange in-game items using tokens. This innovative approach not only enhances the gaming experience but also opens up new opportunities for game development on a global scale. The platform will establish a connected ecosystem, allowing players from different countries to interact seamlessly, exchange game items, and engage in various in-game activities without any geographical limitations.

FOOD AND BEVERAGE

NR Instant Produce Public Company Limited (NRF)

The Board of NR Instant Produce Public Company Limited, a well-established manufacturer, supplier, and distributor of seasonings, ready-to-eat meal kits, recipe mixes, plant-based foods, instant beverages, and water, has granted approval for the acquisition of Kairous Asia Limited. This strategic move involves acquiring a 49% stake in Kairous Asia Limited, with an approximate value of THB 51.6 million.

The primary objective of this collaboration is to bolster NR Instant Produce’s diverse business groups, particularly its plant-based alternative protein food business. By joining forces with Kairous Asia Limited, NR Instant Produce aims to enhance its offerings and expand its presence in the growing market for plant-based foods, catering to the increasing demand for sustainable and healthier food choices.

TOURISIM AND LEISURE

The Ministry of Tourism and Sport recently disclosed the statistics on foreign tourist arrivals in Thailand since January 1, 2023, and the numbers are impressive, surpassing a total of 14 million visitors. This influx has generated a significant income of 587,828 million baht. Among the top contributing countries, Malaysia took the lead with a substantial number of tourists, accounting for 2,245,824 visitors, followed by China with 1,653,913 visitors, and South Korea with 830,576 visitors. Looking ahead, the Ministry of Tourism and Sport projects a further increase in tourist numbers, expecting to exceed 15 million visitors by the end of July. This remarkable growth is a testament to Thailand’s popularity as a premier tourist destination.

Dusit Thani Public Company Limited (DUSIT)

Dusit Hotels and Resorts, a prominent hotel and property development company under Dusit International, is marking its entry into Nepal with the grand openings of two luxurious properties: Dusit Princess Kathmandu and Dusit Thani Himalayan Resort Dhulikhel. The former will welcome its first guests on 17 and 24 July onward. With these remarkable additions, Dusit International’s global portfolio now boasts 54 properties operating under Dusit Hotels and Resorts, in addition to over 240 luxury villas managed by Elite Havens across 19 countries. Furthermore, the company has more than 60 Dusit Hotels and Resorts in various stages of development worldwide, indicating its continuous growth and expansion in the hospitality industry.

ENERGY AND UTILITIES

Banpu Public Company Limited (BANPU)

Banpu Public Company Limited has decided to put on hold the listing plan of its subsidiary, BKV, which focuses on Shale gas production, on the New York Stock Exchange (NYSE). The current status of the plan is pending, awaiting the recovery of the stock market, with the initial listing timeline originally set for 2023.

BKV holds the distinction of having the largest natural gas capacity in Texas and the 16th-largest in the entire United States. The company’s natural gas production is derived from two major fields: the Marcellus gas field in Pennsylvania, which stands as the largest natural gas field in the country, and the Barnett gas field in Texas. In total, BKV boasts an impressive production capacity of approximately 800 million cubic feet per day. 

SECTORAL UPDATE