NEW IPO

Boonthavorn Retail Corporation Public Company Limited (BOON) has initiated an initial public offering (IPO) to issue up to 320 million shares, which will represent a maximum of 25% of its total shares after the IPO. The company plans to go public on the Stock Exchange of Thailand (SET), with Bualuang Securities and Kasikorn Securities acting as its financial advisors. As a fully integrated retailer in the home decoration materials and equipment sector, Boonthavorn demonstrates strong growth prospects. The company offers a wide array of products, services, and distribution networks, encompassing retail stores across Thailand, Vietnam, and Cambodia, in addition to its online platforms. The proceeds from the IPO are designated for business expansion, repaying bank debts, and enhancing operational working capital. This strategic move is expected to accelerate Boonthavorn’s expansion in the home decoration retail market throughout Thailand, Vietnam, and Cambodia by capitalizing on its extensive product offerings and digital presence.

AVIATION

Thai Airways International confirmed it has placed an order for at least 45 Boeing aircraft, a move that significantly boosts Boeing amid recent scrutiny. This order, which includes options for additional jets, marks a critical step in Thai Airways’ restructuring and fleet modernization efforts. The airline aims to enhance its operational efficiency and financial flexibility without impacting its debt repayment capabilities. The new aircraft will be integrated into the fleet from 2027 to 2033, aiming to support the airline’s recovery and growth in the post-pandemic era. The total value of the aircraft deal was not disclosed. The order also came with options for additional aircraft, adding its fleet size would reach 96 jets after the acquisition. The new jets would also allow the carrier to capture enough traffic to generate at least 180 billion baht (USD 4.98 billion) in annual revenue from 2025 onwards, in line with the airline’s rehabilitation plan.

COMMERCE

The Thai Commerce Ministry is in the process of evaluating the introduction of stricter regulations to limit the entry of low-cost foreign products into the national market. Through broadening the range of products necessitating Thai Industrial Standard (TIS) certification, the ministry seeks to guarantee that imports adhere to the local criteria for quality and safety. This strategy is intended to safeguard local producers and consumers against inferior quality goods, fostering equitable competition and upholding superior product standards across Thailand. However, this initiative is currently at the proposal phase and will need additional deliberations with relevant bodies before any resolutions are made.

HEALTHCARE

The Thai government is preparing to introduce measures aimed at promoting artificial insemination to counter the declining birth rates, including among the 2SLGBTQIA+ community. This initiative, part of the “Give Birth, Great World” campaign, underscores the government’s commitment to bolster fertility rates, ensuring inclusivity in accessing infertility treatments. The Ministry of Public Health is collaborating with international organizations like WHO, UNFPA, and UNICEF to safeguard reproductive rights, reflecting a broader strategy to address demographic challenges.

SECTORAL UPDATE 

The SET closed last week  at 1,386.27  points, down to 1.00 points (- 0.07%), trading value last Friday was  43,564.47  million baht ($US 1209.37 million.)

Local individuals are Net Buyers with foreign investors as Net sellers.