MTCC News 3/21

ISSUE 3/2021

DIGITAL NEWSLETTER

MTCC

MTCC Dinner Talk and Networking

Evening on the

“Rise of the Phoenix”

The Malaysian-Thai Chamber of Commerce (MTCC) organized

the “Rise of the Phoenix” Dinner Talk and Networking

Evening supported by Maybank Securities (Thailand) PCL on

Thursday, 9 December 2021 at Shangri-la Hotel Bangkok.

The guest speaker, Ms. Maria Brenda S. Lapiz, Managing

Director and Head of Institutional Research at Maybank

Securities (Thailand) PLC shared her valuable insights on this

topic. The ambassador of Malaysia to the Kingdom of Thailand

H.E. Dato Jojie Samuel, attended the event as honorary

guest and this event was well attended by representatives

from various foreign business chambers in Thailand, as well

as many of MTCC’s Thai and Malaysian friends.

Thanks to our sponsors and all attendees for making our first

in-person event in 2021 a success.

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CONTENTS

Chairman's message

All Createe Land Co.,Ltd.

Bangkok Genetic Co., Ltd.

DeeMoney (Sawasdee Shop Co., Ltd.)

Pacific Rim Rich Group Co., Ltd.

Quantum Metal Thailand Co.,Ltd

R&T Asia (Thailand) Limited

RHB BANK BERHAD

RHB Securities (Thailand) PCL.

MTCC Activities :

Indochina Malaysian Business Chambers

E-Summit 2021

MTCC Activities : The collaboration of

vaccination campaign with Vimut

Hospital and MTCC Webinar

MTCC Activities : 2 nd Asian

Inter-Chamber Golf Challenge 2021

MTCC Activities: 39 th Annual Seminar

of Thai Chambers of Commerce

- Multi Chamber Networking Night

MTCC CSR Activity 2021

CSR Activity:AAPICO Group’s 5 Million

Baht Medical Funds Donation to

Srithanya Hospital in a Combat

Against the COVID-19 Crisis

CSR Activity: Best Plastics Technology

CSR Project

MTCC - COAC - Post Flood Rebuilding

Initiative

Charting the Way Forward: Exploring

investment opportunities in the US,

the world's economic powerhouse

Workers’ Compensation for Employees

Who Catch COVID-19 at Work

Quantum Metal Thailand Press

Release

Thailand: Moderate growth in 3Q21

Thailand: Muted growth in economic

activities in September

Summary of Malaysia’s Trade Performance

(September 2020/2021)

Thailand’s BOI Revamps Promoted

Digital Activities

Thailand’s SEC to Support Public

Fundraising for SMEs and Startups

A new way to school for our children:

staying safe in the new normal

Thailand and Malaysia Event Calender

Chairman’s Message

Patron

H.E. Dato' Jojie Samuel

Ambassador of Malaysia

to the Kingdom of Thailand

Advisors

Ms. Nadia Sapee,

Economic Counsellor

Mr. Norman Dzulkarnain Bin Mohd Nasri,

Trade Commissioner (MATRADE)

Mr. Hairuddin Bin Maslan

Counsellor (Agriculture)

Honorary Board of Directors

Mr. Yeap Swee Chuan - Hon. Chairman

Mr. Daniel Soh - Hon. Director

Mr. Khew Ham Hoe - Hon. Director

Mr. Supasak Chirasavinuprapand - Hon. Director

Board of Directors

Dr. Hwee Khim Boo - Chairman

Mr. Yap Choon Eng - Deputy Chairman and

Treasurer

Mr. Pranart Sarnvivad - Secretary

Mr. Halmi bin Mohd Salim

Mr. Leong Keh Soon

Ms. Low Giin Lan

Mr. Raymond Chee

Ms. Rungnapa Chinvigai

Ms. Sher Hann Chua

Ms. Susan Lim

Mr. Ten Voon Teng

Ms. Woan Na Ng

Committee Members

Ms. LuYing Yap

Mr. M Khairuddin B Suradi

Mr. Ong Shen Ting

Year 2021 is coming to its end.

Many of us are happy that the rate of

Covid-19 infection is improving after

the third wave of infections swept

across the country earlier the year.

The vaccination rollout appears to

be the key contributor to curbing the

spread of the virus. While we

appear to be in a better position

today than where we were during

the last three quarters, I urge everyone

to stay vigilant and to continue

taking all necessary precautions,

especially with the recent news of

the Omicron variant

As like in many countries, Thailand is easing up the quarantine

requirements to promote inbound travelling. As tourism is one of the

main GDP contributors, the Thai government is hoping that the

easing of travelling requirements will attract more people to travel to

Thailand in the year end. This is a positive step for economic recovery..

Thailand is expecting a 0.5-1.5% GDP growth. As of the third

quarter of 2021, export figures are up by 12-14%. The foreign investment

indices surveyed by the University of Thai Chamber of Commerce

suggest more foreign confidence in Thailand in general.

With the help of the Board of Trade of Thailand and the Joint Foreign

Chambers of Commerce, MTCC managed to secure more than two

hundred vaccine shots for our members and other Malaysians in

Thailand. With social distancing practices in place, the Board of

Directors continued to meet every month virtually. Our seminar committee

continued to organize business webinars for our members.

We also participated in a couple of meaningful CSR projects by

raising funds to buy necessities for the needy, and to procure medical

equipment for hospitals. I would like to thank you personally for

your support in these worthy causes.

I hope your business has weathered the storm and is coming out

with a positive outlook. If we all are cautious and follow the new

normal practice, we will be able to fight this lingering pandemic

together.

Finally, thank you all for the continuous support and I wish all members

a better year ahead. Please stay connected with us via our

Facebook page, LINE page and through email for the latest development

in MTCC’s news and activities.

Administrator

Ms. Siriporn Wongchanglor

| NEW MEMBERS

All Createe Land Co.,Ltd.

Address : No. 108/38-40 Moo1, Thawiratphakdi Rd.

Bophut, Koh Samui,

Surat Thani 84320, THAILAND

Tel : (66)77 424-043, (66)63 421-1303

E-mail : alexfang@allcreatee.com

Website : www.allcreatee.com

Chamber Representative:

Mr. Fang Hooi Teik, Alex. CEO

Company Backgroud :

All Createe Land was established in 2017. The company is now the

leading real estate developer in Koh Samui. The current on-going

project is "The Legend-Luxury Seaview Villas" which is the largest

detached villas project in Koh Samui, Thailand. We have successfully

completed and delivered a few villas which include The

Skyline Luxury Seaview villas located in Chaweng hill, Koh Samui.

We shall look forward to obtaining more beautiful land banks,

developing and managing more luxury villas’ projects in the

island.

Nature of Business:

Property Development & Property Management

Product / Services:

Luxury Seaview Villas, Beachfront Villas

Bangkok Genetic Co., Ltd.

Address : 10/100 The Trendy Building,

7th FL.Soi Sukhumvit13(Sangchan),

Sukhumvur Rd.,Klongton-nua, Wattana, Bangkok 10110

Tel : (66)2 021 5870

Website : https://bangkokgene.com/


Mr. Choy Hong Yang – Managing Director

The results from BangkokGene Genetic Testing Program can help

you predict future health problem, manage your health, and the

health of your loved ones. With an understanding of your genetic

profile, you can also identify lifestyle, dietary or other specific

interventions that is most suitable for you to mitigate the

risk of disease and live a longer, healthier life.

Company Backgroud :

Bangkok Genetic Company Limited is an exclusive distributor

of Malaysian Genomics Resource Centre Berhad (MGRC)

provides genome sequencing and analysis, and genetic

screening services. We promote an extensive range of

genetic testing and personalized health programs for

people with genetic conditions in Bangkok, Thailand.

We introduced BangkokGene Genetic Testing Program, a

comprehensiverange of genetic testing that designed to

screen DNA for known genetic markers. These markers are

associated with diseases or disorders such as cardiovascular

diseases, metabolic disorders, cancers and even developmental

disorders.

l 3 MTCC NEWS l December 2021

| NEW MEMBERS

DeeMoney (Sawasdee Shop Co., Ltd.)

Address : 168 Soi Sukhumvit 8, Khwaeng Khlong Toei,

K het Khlong Toei, Krung Thep Maha Nakhon 10110

Tel : (66) 26 969-599 Fax : (66) 26 616-587

E-mail : support@dee.money

Website : https://deemoney.com/

Nature of Business:

Financial Services/Financial Technology,

Mobile App Finance Solutions

Product / Services:

Proprietary Financial Platform/Services with mobile and

web application, Remittance service.

years of experience successfully running businesses that challenged the

status quo in the telecom industry through innovative product offering

in the VoIP industry. The company received the Non-Bank International

Money Remittance Service License, E-Payment Service License, and the

Authorized Money Changer License from the Bank of Thailand in 2017.


Company Backgroud :

DeeMoney is Thailand’s leading and fastest-growing Fintech

specializing in cross-border payments. DeeMoney was

launched in 2018 by Mr. Aswin Phlaphongphanich and Ms.

Rasmegh Srisethi who are entrepreneurs with more than 20

Mr. Daud Charles

Chief Marketing Officer

Mr.Deepankar Panjabi

Chief Marketing Officer

Address: 2 Praditmanuthum Road,

Tareang, Bangkhen, Bangkok 1230

Tel : (66)2-943-6080 Fax : (66)2-943-6087

E-mail : chomchan@prichgroup.com

Website : http://www.prichgroup.com

Nature of Business: Construction & Engineering

Product / Services:

1. Engineering Design and Construction for Industrial Plants.

2. Machinery Representation

3.Construction Service

Company Backgroud :

Pacific Rim Rich Group Co.,Ltd. (PRich) is an engineering and

construction company operates in the three key strategic

direction as follows:

1.Engineering Design and Construction for Industrial Plants.

PRich acts as the provider of design and engineering consulting

service, project management services, equipment and

processing facilities and construction work. The scope it offers

covers any one of these services separately, through to

complete turnkey projects. It has expertise in vary industries

with references and involves in mineral processing and

agricultural product processing technology. Mineral Processing

Technology: dry mortar plant, sand preparation plant

including for glass and foundry operations, plaster board

plant, concrete roof tile plant. Agricultural Product Processing

Pacific Rim Rich Group Co., Ltd.

Technology: food processing, animal feed. beverages, tapioca

processing.

2.Machinery Representation

PRich is the exclusive agent of Maschinefabrik Gustav Eirich, a

Germany machinery manufacturer on mixing, grinding, pelletizing,

and granulating technology for the building materials, glass, refractory,

environment protection and ceramic industries, and non-exclusive

agent for a number of European machinery manufacturers mostly for

mineral processing technology.

3. Construction Service

PRich provides construction services to both private and

government construction project, covering building, school,

university, hospital, factories, interior finishing and landscaping.


Dr. Supareak Charlie Chomchan


| MEMBER’S PROFILE

Quantum Metal Thailand Co.,Ltd

Address : 1-7, Level 8 Zuellig House Building, Silom Road,

Silom, Bangrak, Bangkok 10500, Thailand

Tel : +66 (0)2231 8313

E-mail : info-th@quantummetal.com

Website : www.qmthai.co.th


Mr. Jonathan S.

Nature of Business:

E-Commerce/ Financial Digital Gold Assets

Product / Services:

Quantum Metal Thailand offer you an e-commerce financial

digital gold platform that enables you to create a business

portfolio in gold and allows you to buy and sell at anytime,

anywhere. As one most advance player in the market, our

platform has grown to help corporate companies, small

medium enterprise in offering business solution and create a

better trade connectivity between Malaysia and Thailand.

Company Backgroud :

Quantum Metal Thai was founded by a visionary management team

who desire to touch each individual life to achieve financial f reedom

and helping businesses to grow. QM-Thai was registered in Thailand in

Year 2020 where the group Quantum Metal was founded since 2012.

Quantum Metal is one of the largest financial digital gold providers in

Asia and has strong business partnership with Perth Mint, ABC Bullions

and Malaysia Banks. Quantum Metal business offers 99.99% premium

gold products to more than 8 other Asian countries and the supplies

includes government bodies, banks, and financial institutions. As part of

the business mission, the company aims to provide offers and solution

to Thailand community in creating business opportunity, jobs, and

value creation.

R&T Asia (Thailand) Limited

Address: 973 President Tower, 12th Floor, Units 12A - 12F

Ploenchit Road, Lumpini, Pathumwan

Bangkok 10330, Thailand

Tel : + 66 (0) 2656 1991 Fax : + 66 (0) 2656 0833

E-mail : sui.lin.teoh@rajahtann.com

Website : th.rajahtannasia.com

Nature of Business : Law Firm

Affiliates:

Rajah & Tann LLP (Singapore)

R&T Asia (Thailand) Limited (Thailand)

R&T Sok & Heng Law Office (Cambodia)

Rajah & Tann Singapore LLP Shanghai Representative Office

(China)

Assegaf Hamzah & Partners (Indonesia)

Rajah & Tann (Laos) Sole Co., Ltd. (Laos)

Christopher & Lee Ong (Malaysia)

Rajah & Tann NK Legal Myanmar Company Limited (Myanmar)

Rajah & Tann LCT Lawyers Ho Chi Minh City Office (Vietnam)

Gatmaytan Yap Patacsil Gutierrez&Protacio (C&G LAW)

(Philippines)

Company Backgroud :

Rajah & Tann Asia has more than 600 lawyers across ten

countries in Asia.

With offices in Cambodia, Indonesia, Laos, Malaysia, Myanmar,

the Philippines, Singapore, Thailand, Vietnam, and a

representative office in Shanghai, we have brought together leading

law firms and lawyers to create unified, coherent, and authentically

Asian legal services throughout the region. In short, we are Lawyers

who know Asia.

The Thai office of Rajah & Tann has more than 50 lawyers and is a

full-service firm with a deep breadth of knowledge and experience, as

well as an impressive base of international, regional and local clients.

Led by managing partner and former judge, Surasak Vajasit, we

advise on the following areas:

• Banking and Finance

• Commercial Litigation and

Dispute Resolution

• Competition & Anti-Trust • Customs and Trade

• Corporate and M&A (including Capital Markets)

• Employment & Benefits • Foreign Direct Investment


Ms. Sui Lin Teoh


| MEMBER’S PROFILE

RHB BANK BERHAD

- Bangkok Branch

15 Fl./18 Fl. M Thai Tower, All Seasons Place,

87 Wireless Road, Lumpini, Pathumwan, Bangkok 10330

Tel: +66 (0) 2 126-8600 Fax: +66 (0) 2 126-8601

- Sriracha Branch

99 Sukhumvit Road, Aumpoe Sriracha, Chonburi 20110

Tel: +66 (0) 38 324-844/46 Fax: +66 (0) 38 324-847

- Ayutthaya Branch

99/8 Pornsiamphum Building 2-3 floor,Rojana Road,

Tumbol Khanham, Aumpoe U-Thai, Ayutthaya 13210

Tel: +66 (0) 35 745-571/73 Fax: +66 (0) 35 745-574

E-mail :

yuraporn.c@rhbgroup.com

piyanat.a@rhbgroup.com

Website : www.rhbgroup.com

Nature of Business: Commercial Banking

Product / Services:

Loans/Deposits/Trade Finance/Remittances/ Foreign Exchange

The Bank provides uniquely customized financial products and personalized

services to our diversified portfolio of customers, ranging from

loans and deposits, to trade finance and other services, such as foreign

exchange and remittance via the branches strategically located at

Bangkok, Sriracha and Ayutthaya.

Being part of the RHB Banking Group, one of Malaysia’s largest fully

integrated financial services groups with regional presence, customers

can tap on our ability to gain local insights, knowledge and expertise

across the 9 ASEAN countries in which we operate including Brunei,

Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Singapore, Thailand

and Vietnam. The Group has won numerous banking awards and

recognition; lending credence to its relentless pursuit of excellence to

serve its customers well.

RHB Bank Berhad Thailand is committed to help

companies grow with the best financial solutions and

advice, and generate long-term sustainable returns for

customers and our stakeholders.

Company Backgroud :

Since inception in 1964, RHB Bank Berhad Thailand has been

well established with a strong footing as a fully licensed

commercial bank to serve the local Thai corporates as well as

international investors in the Kingdom of Thailand.

Chamber Representative :

Deputy Chief Executive Officer :

Ms Jasmine Tan Siew Ming

Head, Country Operations :

Ms. Yuraporn Chinprasert

Mr. Piyanat Aranyakasemsuke

Chief Executive Officer

8th &10th Floor, Sathorn Square Office Tower,

98 North Sathorn Road, Silom, Bangrak, Bangkok 10500

Tel : +66 (0) 2088 9999 Fax : +66 (0) 2108 0999

E-mail: rassamee.co@rhbgroup.com

Website: www.th.rhbtradesmart.com

Nature of Business :RHB Securities (Thailand) PCL provides a

spectrum of financial services for retail, corporate and institutional

investors. It is a member of the Stock Exchange of

Thailand (SET) , MAI (Market for Alternative Investment), Thai

BMA (Thai Bond Market Association) and TFEX (Thailand

Futures Exchange).

Product / Services :

- Securities and Derivatives Broking

- Margin Financing

- Corporate Advisory ,

Capital raising and Underwriting

- Derivatives & Structured Products

Company Backgroud :

RHB Securities (Thailand) PCL is part of the RHB Banking

Group, one of Malaysia’s largest financial services groups with

an asset base of over RM 236 billion (c.USD 59 billion) and

roots reaching back to over 100 years of service.

RHB Securities (Thailand) PCL.

RHB Banking Group aims for a leading position in each market

segment that it is involved in, with regional coordination and multiproduct/multimarket

access.It aims to further build on its achievements

and catalyze the Group’s transformation into a regional powerhouse.

At the same time, it envisions to multiply value for its clients

and shareholders.

RHB Securities (Thailand) PCL formerly known as RHB OSK Securities

(Thailand),came into being with the acquisition of BFIT Securities

Public Company Limited by OSK Investment Bank Berhad (“OSKIB”) in

July 2011. Thereafter RHB Investment Bank, RHB Banking Group’s

Investment banking arm, merged with OSKIB with the aim to build a

leading regional corporate and investment bank.

RHB Securities (Thailand) PCL is a growing Investment Bank and a

brokerage house which has expanded its presence by opening 10

branches in Thailand. It ranked 2nd position in 2015 and 3rd in 2014

for the Most Active Prop Trader by TFEX at the TFEX Best Awards. It

has also been recognized for its research and ranked 5th for Overall

Country Research in 2014, and has been adjudged as the 3rd best

Brokerage for Thailand for the year 2015 by Asia Money.


Mr. Sim Seng Tey - Chief Executive Officer


By Ng Woan Na

| MTCC ACTIVITIES

MTCC participated in the Indochina Malaysian Business

Chambers (MBCs) E-Summit on 30 August 2021. This

digital forum has brought together the Malaysia External

Trade Development Corporation (MATRADE), diplomatic

representatives and panelist speakers of business

chambers from five countries (Cambodia, Lao PDR,

Myanmar, Thailand and Vietnam). This session involved

discussions on the latest economic outlook, areas of

key business opportunities and potential avenues of

collaboration and synergies to be explored between

MBCs across the Indochina region.

As the representative speaker of MTCC, Ng Woan Na

highlighted 12 targeted industries under Thailand 4.0

Policy and key investment opportunities – with particular

emphasis on development of the Eastern Economic

Corridor, the current most important flagship project of

the Thai government. In the context of COVID-19, MTCC

discussed Thailand’s economy projection and major

factors contributing to the recovery of Thai economy.

A focus discussion was made on areas of possible

collaboration between MBCs in capturing business

opportunities across Indochina Region. In addressing

this topic, reference was made to an existing and operational

model (i.e. the ASEAN Economic Community

(AEC) framework), in terms of the extent of economic

integration achieved between ASEAN member states

through the ASEAN Free Trade Area (AFTA) platform as

established under the AEC framework, and how collaboration

between MBCs could mitigate the loopholes

relating thereto (e.g. low utilization rate of AFTA as many

companies were unaware of how to apply for tariff preferences).

To achieve an effective collaboration between MBCs,

MTCC proposed amongst others, an establishment of

Joint Comprehensive Committee, a uniformed body

overseeing the degree of economic integration between

ASEAN member states and reporting such progress to

MATRADE for their further liaison with Association of

Southeast Asian Nations (ASEAN). The said Committee

will conduct important roles (e.g. trade consultation and

facilitation). On trade facilitation, attention was made to

a research conducted by Bank of Ayudhya (commonly

known as Krungsri Bank) on factors in enhancing a

country’s sectoral potential to which the level of participation

and activities’ position in global supply chain (i.e.

supply chain strategy) was found to be the most important

factor, thus highlighting the potential collaboration

among member states in the regional supply chain.

On MBCs’ collaboration from the Regional Comprehensive

Economic Partnership (RCEP) perspective, MTCC

proposed to set up an ASEAN representative office in

the key partners of RCEP countries (i.e. China, Japan,

Korea, Australia and New Zealand) in order to help

Malaysian companies integrate into their markets,

promote collaboration and tap into investments in third

countries.

This session was followed by an active Q&A session

that was highly appreciated and drew much engagement

from the attendees.


| MTCC ACTIVITIES

Along with a few other foreign chambers in Thailand, Dr. Khim Boo represented MTCC to thank Vimut Hospital for

the collaboration in the vaccination campaign for our members. We would also like to extend our gratitude to the

Singapore-Thai Chamber of Commerce for coordinating with MTCC on the vaccination efforts.

Present for the meeting were representatives from the Singapore-Thai Chamber of Commerce, Italian-Thai Chamber

of Commerce, Netherlands-Thai Chamber of Commerce, British Chamber of Commerce Thailand, Brazil-Thai

Chamber of Commerce, Korean-Thai Chamber of Commerce, and the Taiwan Trade Association.

The Malaysian-Thai Chamber of Commerce (MTCC), supported by the Embassy of Malaysia in Thailand and the

Malaysia External Trade Development Corporation (MATRADE) Bangkok, successfully held a webinar entitled

“Thailand Investment Opportunity & Eastern Economic Corridor” on Thursday 23 September 2021 via Zoom.

Two prominent guest speakers, Mr. Punlop Punyasiri, Director of Thai Enterprise Development Division at Thailand

Board of Investment, and Mr. Hiran Rujirawirote, Deputy Director of International Affairs Division at Eastern Economic

Corridor Office of Thailand shared valuable insights with the participants on the investment opportunities

available in the region. The event was moderated by MTCC Director Sher Hann Chua, and was graced by the presence

of the Ambassador of Malaysia to the Kingdom of Thailand, Dato’ Jojie Samuel.


| MTCC ACTIVITIES

The Malaysian-Thai Chamber of Commerce (MTCC) organized a webinar entitled “Crowdfunding: An Alternative

Financing Option for SMEs” on Friday, 15 October 2021 via Zoom. The webinar featured guest speakers, Mr.

Varun Bhandari, Country Head at Funding Societies Thailand, and Mr. Damien Kerneis, Co-Founder of Siam Car

Deal, who shared their experience and expertise in the crowdfunding sphere with all attendees.

The Malaysian-Thai Chamber of Commerce (MTCC) organized a webinar entitled “Hormone Boosting & Replacement

Therapy : returning your youth, power, brains & beauty” on Friday, 12 November 2021 via Zoom. The guest

speaker and medical expert, Dr. Erik Fleischman, Executive Medical Director at Bangkok Anti-Aging Center

(BAAC) shared his valuable insights on how to stay vibrant and how to maintain an active lifestyle.

Guests also participated in lucky draw contests sponsored by Bangkok Anti-Aging Center (BAAC) and Nature Hut.


By Halmi bin Mohd Salim

| MTCC ACTIVITIES

Background

In 2020, the Malaysian-Thai Chamber

of Commerce (MTCC) Sports Committee

initiated the idea to organize an

annual golf event involving the Asian

Chambers of Commerce registered

under the Chamber of Commerce Act

B.E. 2509. MTCC discussed the idea

with the Singapore-Thai Chambers of

Commerce (STCC) and the Indonesia

Thai Chamber of Commerce (INTCC),

and the three Chambers of Commerce

became co-founders of the Asian

Inter-Chamber Golf Challenge which

had its inaugural event introduced in

2020. As co-founders, MTCC, STCC

and INTCC will take turns to host the first three editions of the challenge, after which the hosting duties will be

delegated on an alphabetical order, according to the Asian Chambers of Commerce involved.

There are 12 Asian Chambers of Commerce registered under the Chambers of Commerce Act B.E. 2509,

namely MTCC, STCC, INTCC, Thai-Hongkong Trade Association (THKTA), Korean-Thai Chamber of Commerce,

Japanese Chamber of Commerce Bangkok, Thai-Sri Langka Chamber of Commerce, Thai-Chinese

Chamber of Commerce, Thai-Pakistan Chambers of Commerce, India-Thai Chamber of Commerce, Thai-Taiwan

Business Association, Thai-Bangladesh Chamber of Commerce (TBCC), Thai Chamber of Commerce and the

Board of Trade of Thailand. For the inaugural Asian Inter-Chamber Golf Challenge in 2020 , MTCC emerged as

the Overall Champion.The 1st runner up was the Thai-Chinese Chamber of Commerce and the 2nd runner up

was the Thai-Hongkong Trade Association.

2 nd Asian Inter-Chamber Golf Challenge 2021

On 17th November 2021, STCC organized the 2nd

Asian Inter-Chamber Golf Challenge 2021 at the Alpine

Golf Club in Pathum Thani. MTCC invited H.E. Dato

Jojie Samuel, the Malaysian Ambassador to the Kingdom

of Thailand as our Guest of Honor, and the event

was also graced by the presence of H.E. the Indonesian

Ambassador to Thailand, Mr Rachmat Budiman.

MTCC was represented by a total of 18 players at the

challenge, which attracted more than 100 participants.

This year, MTCC lost to the hosts, STCC, by one point,

and took home the 1st Runner Up trophy. MTCC’s best

4 players whose scores counted towards the overall

score tally was Mr Lim Wee Pin, Mr Daniel Soh, Brig.

General Samsul Rizal and Captain Josh Nazri. Congratulation

to all winners and congratulations also to STCC

for being such great hosts, as well as earning the title of

Overall Champion for this year. MTCC would like to

thank all parties involved, with special thanks to H.E.

Dato Jojie Samuel and to the Organizing Committee.

MTCC also thanks our sponsor for the team jersey, caps

and face masks for the participants


| MTCC ACTIVITIES

MTCC Chairwoman Dr. Hwee Khim Boo, along with JFCCT President and Vice Presidents, participated

in the 39 th Annual Seminar of Thai Chambers of Commerce “Connect the Dots DESIGN THE FUTURE”

during 20 th – 21 st November 2021 at the Central Hall of the University of the Thai Chamber of Commerce.

Featured speakers and honorary guests included General Prayut Chan-o-cha, Prime Minister, Mr Supattanapong

Punmeechaow, Deputy Prime Minister and Minister of Energy, and Mr Jurin Laksanawisit,

Deputy Prime Minister and Minister of Commerce.

MTCC was a part of the "Multi Chambers Networking Night" organized by the Singapore-Thai Chamber

of Commerce and jointly supported by various foreign chambers of commerce in Thailand on Tuesday, 14

December 2021 at Lancaster Bangkok.

MTCC members attended the event and enjoyed a delightful time together. Guests also participated in

lucky draw contests, and walked away with many other great prizes that evening.


| CSR ACTIVITIES

By VT Ten

The MTCC Board of Directors continues its efforts in improving the condition of MTCC’s adopted school, Wat

Krachaeng School in Ayudhaya. This year, MTCC’s efforts are focused on the improvement of toilet facilities at the

school, with a budget of THB 180,000.00 donated by members of MTCC in April 2021.

MTCC attended the donation of food and survival kits at the Food For Fighters program on 7th August 2021. The

Project was spearheaded by STCC and it took great effort to have the 5,400 packets of food and survival kits

delivered to the packaging center, packed and then loaded onto trucks for deliveries to the different destinations.

MTCC attended the distribution event at the Chula Alumni HQ where the Food For Fighters (FFF) program is

headquartered. 1,800 packets of food, rice and survival kits were distributed there. MTCC also attended the

distribution event at the Khu Kroh Police Station at Ramindra Road area on 10th August 2021. 300 sets of foods,

rice and survival kits were distributed on that day.


| CSR ACTIVITIES

On 20 th September 2021, MTCC again joined hands with STCC in donating 10 units of oxygen generators to Sirindhorn

Hospital in LardKrabang to alleviate the shortage of supplying oxygen to Covid-19 patients. The handing over

ceremony was attended by MTCC Chairwoman Dr. Khim Boo, MTCC Directors and STCC Chairman Mr. Alan Lim.

| CSR ACTIVITIES

On 28th July 2021, Mr. Yeap Swee Chuan, the

President and CEO of AAPICO Hitech Public

Company Limited, together with AAPICO representatives,

donated 5 million Thai Baht as funds

for the procurement of medical equipment, PPE

suits, and drinking water to Srithanya Hospital.

AAPICO is determined to continue to provide

support to the community, especially during this

national emergency. The project is under the

guidance of Mr. Yeap Swee Chuan’s emphasis

on values of human health, safety, and well-being,

as well as the company’s effort to give back

to society.

| CSR ACTIVITIES

MTCC member, Best Plastics Technology

participated in a COVID-19

assistance CSR project in September.

Dr. Surachai Ratitong and Dr. Khim

Boo donated one million Baht to Sampran

Hospital for the purchase of

medical equipment to monitor

COVID-19 patients remotely to

reduce the healthcare workers’ contact

and exposure to patients, as well

as to lighten the burden of the hospital,

which was overwhelmed with

patients with limited members of staff.

Best Plastics Technology had previously also donated 450,000 Baht to another local hospital for medical

needs.

| MEMBER’S CORNER

By Yuttachai Teyarachakul

Managing Director, Country Head of Personal Financial Services, UOB Thailand

At UOB, we expect that the United States (US), the world’s

largest economy 1 , will continue to dominate and to drive financial

markets for years to come. After a challenging year of

COVID-19 lockdowns in 2020, the United States is looking to

recover to full economic activity with the help of mass vaccinations,

expansionary monetary policy and fiscal support from the

government. We expect that the economy will grow by 6 per

cent 2 in 2021 and maintain a moderate pace of growth in 2022.

Global leadership of US companies:

The global reach of US firms remains dominant and they wield

significant influence in a variety of industries. For example,

US-based companies account for an astounding 73 per cent of

the global information technology (IT) sector 3 . Healthcare is also

significantly weighted toward equities domiciled in the United

States, which represent for 65 per cent of the sector's market

value. The US consumer market, home to these companies, is

the largest consumer market in the world and valued at $20

trillion 4 . This provides an abundance of business opportunities for

US firms, allowing them to capture 41.3 per cent of total worldwide

corporate revenue 5 .

Large and robust financial markets:

The US equities market is the largest, most developed and

liquid financial market in the world 6 , accounting for 41 per cent

of worldwide equity and 40 per cent of global fixed income.

They also account for the majority of the value, representing 46

per cent on average of overall global market activity. With an

array of banks, investment firms and venture capitalists readily

available to provide funding support for new US-based

start-ups and growing businesses, the US market is highly

attractive to many foreign companies.

Strong innovation ability and culture:

According to the 2020 Global Innovation Index, the US is one of

the world’s top three most innovative countries. This makes it

fertile ground for creativity, powering ongoing innovation and

transformation in industries ranging from manufacturing to

healthcare and finance. It is home to the world-class institutions

driving research and initiatives in science, technology, and

energy. It is also regarded globally as the top high-income

economy for quality innovation.

Despite the anticipation of economic growth in the US, investors

should be cautious of some investment drawbacks, such

as the following considerations:

• The country's economic recovery in 2021 may be hampered

by the delays in the provision of COVID-19 vaccines. As the

Delta variant is spreading with incredible efficiency and already

accounts for more than 83 per cent 7 of the virus circulating in

the States, any disruption in the manufacturing industries and

distribution of COVID-19 vaccinations will impede economic

recovery.

• The US may implement protectionism policy such as the Buy

American Act. Under the new regulations, all items purchased

by the US federal government – from automobiles to building

materials – must be manufactured in USA, even if the materials

are more expensive. Buy American would restrict competition,

raising the cost of products and services and possibly harming the

US's long-term competitiveness.

There is an abundance of investment opportunities in the US

economy. Investors should focus on specific sectors that stand

out in the current economic environment, drawing on the expertise

of professional investment managers to identify value companies

within these sectors. It is also important to maintain a diversified

portfolio to minimise potential drawdowns due to unforeseen

circumstances and to invest in tranches on a consistent basis

instead of trying to time the market.

Source: UOB Market Outlook 2021

About UOB Thailand

United Overseas Bank (Thai) Public Company Limited (UOB) (Thai)

is a fully-licensed commercial bank with its network of 152 branches,

410 ATMs nationwide (as of 31 January 2021). UOB (Thai) is 99.66

per cent owned by Singapore-headquartered United Overseas Bank

Limited (UOB), which has a global network of more than 500 offices

in 19 countries and territories in Asia Pacific, Europe and North

America.

UOB Thailand is rated among the top banks in Thailand: AAA by

Fitch Ratings. We offer innovative financial solutions, quality

products and excellent services through understanding and identifying

the needs of our customers.

Generations of UOB (Thai) employees have carried through the

entrepreneurial spirit, the focus on long-term value creation and an

unwavering commitment to do what is right for our customers and our

colleagues. We believe in being a responsible financial services

provider and we are committed to making a difference in the lives of

our stakeholders and in the communities in which we operate. Just

as we are dedicated to helping our customers manage their finances

wisely and to grow their businesses, UOB Thailand is steadfast in its

support of social development, particularly in the areas of art,

children and education.

For media queries, please contact:

Yada Srisammasheep

Strategic Communications and Customer Advocacy

Email : yada.sri@uob.co.th

Tel: +66(0)2343 4965; Mobile: +66(0)84640 0058

1 World Bank, United Nations, by nominal GDP

2 UOB Quarterly Global Outlook 4Q2021

3 S&P Down jones indices

4 US GDP as of 2020, Bureau of economic analysis

5 MSCI Equity Indices, as of end Q1 2021

6 New financial market growth index 2019

7 Source: Centers for Disease Control and Prevention


By Mr. Yuttachai Teyarachakul

Managing Director, Country Head of Personal Financial Services,

| MEMBER’S CORNER

By Tilleke & Gibbins

With COVID-19 cases continuing to pose a

significant threat throughout Thailand, many

employers have ordered their employees to work

exclusively from home in order to minimize their

chances of contracting the virus. However, this

luxury is not afforded to all employees—some

are unable to work from home due to the nature

of their work, and consequently they are placed

in the precarious position of being exposed to

possible infection.

Thailand’s Social Security Office (SSO) understood

these risks early in the pandemic and, in

March 2020, issued guidelines through the

Workmen’s Compensation Fund Office on

employees’ entitlement to claim benefits from the

workers’ compensation fund (WCF) if they contract the virus as a result of their work. The WCF provides

medical-related assistance and compensation to employees who directly suffer from a work-related injury

or sickness (subject to certain conditions). Falling ill with COVID-19 during the performance of work duties

may constitute suffering work-related sickness, thereby allowing employees to claim compensation from

the WCF by submitting the Kor Thor 16 form, a medical certificate, treatment records, records of the

employee’s working hours, and other relevant documentation.

Upon receiving a claim, the SSO will investigate by collecting facts and evidence from the employer, the

infected employee and his or her colleagues, and any witnesses. The official will examine the employee’s

duties and working conditions in detail, taking into consideration any relevant information, such as evidence

regarding the employee’s travel or movements prior to falling sick. Once all the facts and evidence are gathered,

the matter will be submitted to a medical subcommittee responsible for determining whether the

employee’s onset of COVID-19 is due to his or her work. If the subcommittee finds that the employee’s contraction

of the virus did indeed result from the performance of his or her work duties, the employee will be

entitled to compensation in accordance with the Workmen’s Compensation Act (No. 2) B.E. 2561 (2018).

An employee who needs treatment before this determination (i.e., while the workers’ compensation claim is

pending) can first seek medical care under the Social Security Fund from the hospital at which he or she is

registered. If the subcommittee subsequently rules that the COVID-19 case was in fact work-related, the

employee will be able to claim compensation from the WCF.

It can be challenging to collect the evidence necessary to determine the source of an employee’s infection—especially

when the employee has also frequented non-work locations or lives with other family members

who may have been exposed to the virus. Nevertheless, the ability to receive compensation from the

WCF for work-related cases of COVID-19 helps to ensure that employees—especially those working on the

front lines—have adequate protection against the financial impact of falling sick with COVID-19.

Pimvimol (June) Vipamaneerut

Partner

june.v@tilleke.com

Ketnut Pukahuta

Associate

ketnut.p@tilleke.com

Dusita Khanijou

Consultant

dusita.k@tilleke.com


| MEMBER’S CORNOR

now has not only inspired people who not only believe that

everything is possible, but it has created a business culture of

endless possibilities. QM-Thai will continue to aspire through

aspiration utilizing technology and innovation in the market.

Quantum Metal Thailand Co., Ltd has entered into a collaboration with

Emerald Tech Advance and Satang Corporation on Thai Elite Card

Services. This collaboration of Elite Card services, a program initiated

by Thailand Tourism Authority was inspired by common goals in doing

our part to grow the tourism industry, rebuilding the Thai economy,

and helping the local businesses. This effort is connected through

synergizing three group of companies with different foundation

through providing each area of expertise companies to attract investment,

health care services and jobs opportunities.

Emerald Tech Advance an appointee agent under Thailand Tourism

Authority a direct supervision of Thailand Elite Card will see the first

ever innovative collaboration with QM-Thai and Satang Corporation.

The subsidiaries, partners and agents of Emerald can now have

options to applied Elite Card through Gold and Crypto as an additional

option for members to save, spend and investment in Thailand.

Together in this collaboration, Satang Corporation as one of the

leading digital asset exchanges in Thailand will see its first collaborative

cross- digital assets into providing services for its clients into gold

and extended in tourism. This will be the first ever cooperation in

Thailand, as an innovative to help Thailand grows its tourism and

attracting investment in Thailand.

Background

Quantum Metal Thailand “QM-Thai” was founded by 3 passionate

individual Dato Lim K S, Jonathan S. and Brandon Teh and QM-Thai is

the first cross border entity Quantum Metal Group and in August 2021

QM- Thai is officially part of Quantum Metal Inc. listed in the U.S OTC

market. The fundamental of the business led by Jonathan and

Brandon was to create foundation that helps business and people. The

objective was to support a trades relationship between Malaysia and

Thailand through gold as a creation of wealth solution for any corporate,

entity or individual. Through stronger vision and leadership of

our Chairman Dato Lim K S, carry on the vision for Quantum Metal and

eventually extended the presence out to more countries such as U.S,

China, Singapore, Hong Kong, and other countries. QM- Thai, was

established during the hardest period but with great will in within the

company together with the support from Bangkok Bank, our associates

“Khun Mook & Khun Apple” and our lawyer Khun Sira, Quantum

Metal Thailand was successfully incorporated in August 2020 during

the most difficult period of the covid-19 pandemic. Despite the

challenges the company are fueled with energies to support the

economy and for the people. With much detail planning, the company

Collaboration Direction

Thailand Elite with a singular goal for high-net-worth foreign

tourist with purpose of benefits, privileges, rights, and services

either in vacation or business. Elite operates under the directive

and guidance Thailand Tourism Authority (TAT), which sees huge

potential in attracting investors and long stay group. As part of

the collaborative business mission, the company had the similar

goal with the directive of TAT to provide offers and solution to

Thailand community in creating business opportunity, jobs, and

value creation by QM- Thai partnership with Emerald Group,

Satang Corporation in Marketing Elite Card Services. A potential

growth which will see maximizing each party current base in

contributing towards the Thai economy. The collaboration effort

entails acceptance of Elite Card Services through gold or crypto

essentially creating innovation in services towards Thailand

economy and the collaboration achieved a complete ecosystem

with presence of Bangkok Bank, will advise successful applicant

to open account with the bank during their stay for their ease of

banking needs.

Collaboration Value

The collaboration will see a potential of 3 parties maximizing its

existing resources in growing, expanding, extending products

and services in contribution to Thailand economy. With the total

number of users, network of QM- Thai, Emerald- Tech and Satang

Corporation which will potentially lead to hundreds of millions of

investments through 3 collaborative platform. The potential

investment into Thailand will not only contribute to the tourism

but at the same time into retail sectors, industrial sectors, property

investment and agricultural sectors.

Collaboration Contribution

Elite card services will see the first potential collaboration giving

applicant a payment options, investment, save and travel.

Promote Elite Card membership across the world to high net

worth and to create and support new program and initiative to

grow Elite Card membership and Thailand Foreign Direct Investment

in areas not limited to property, business, and payment.

Emerald Group accepts QM Thailand and Satang as an official

partner of Elite Services and future collaboration partners in

other areas to grow Thailand tourism via.

Satang Corporation as Exchange platform for QM- Gold Token

as an exchange platform for application from Crypto to Gold

vice-versa with an option of payment merchant availability.

Event and Ceremony

On the 27th of November 2021, at Amari Watergate, Bangkok.

The 3 parties held their collaboration event at 9 am (Bangkok

Time), they were attended and witness by Malaysia Ambassador

- Dato Jojie Samuel, Thailand Elite Card President -Mr. Pornthep

Pantanapat, Tourism Council of Thailand – Chamnan Srisawat,

The Association of Domestic Travel – Mr. Sato, Bangkok Bank

Representative


By RHB Securities (Thailand) PCL

| ECONOMIC REVIEW

Global Economics & Market Strategy

Thailand: Moderate growth in 3Q21

♦ We expect monthly momentum for inflation to ease further in August before improving in the consequent

months. July CPI inflation printed 0.45% YoY, lower than the Bloomberg consensus estimate of 0.88% and June’s

reading of 1.25%.

♦Meanwhile, we anticipate exports to moderate in August, reflecting the surge in infections and the impact of the

restrictions for the month. Resilient external demand and weak Baht should still provide support for exports. Exports

for July printed 20.3% YoY versus the Bloomberg consensus estimate of 19.7% and June’s reading of 43.8%.

♦Similarly, we expect the manufacturing production index (MPI) to ease in August following the imposition of strict

lockdown measures across the region. However, the slight easing of restrictions and the increase in vaccination

rate should improve MPI performance from September onwards. The MPI printed 5.1% YoY for July versus the

Bloomberg consensus estimate of 12.3% and June’s reading of 18.3%.

Muted performance in August given strict lockdown measures

We expect monthly momentum for inflation to ease further in August before improving in the consequent

months. This is as government subsidies for electricity and water bills will partially cap the rise in prices for the month

while dampening purchasing sentiments, given that strict restrictions remained in place for August, is expected to limit

demand-pull inflationary pressures. Of note, consumer confidence fell further to 40.9 from 43.1, claiming the lowest level

recorded, following the spread of the third wave of infection in the country.

July CPI inflation printed 0.45% YoY, lower than the Bloomberg consensus estimate of 0.88% and June’s reading

of 1.25%. Price pressures for the month were weighed down by the Government subsidies on utility bills, tuition,

and education. Declining prices for some fresh food such as rice and vegetables also contributed to the slowdown in

headline inflation. Meanwhile, core inflation, which excludes raw food and energy prices, moderated to 0.14% YoY from

0.52% YoY the month prior.

Meanwhile, we expect exports to moderate in August, reflecting the surge in infections and the impact of the

restrictions for the month. Agriculture exports may be affected by the closures of some fruit factories and supply chain

disruptions due to virus outbreaks in the region. Containment of the virus in major sectors, as vaccination rate increases

from September onwards, should buttress exports performance. However, the weak Baht and recovering global

demand should support overall performance, particularly for the manufacturing exports.

Exports for July printed 20.3% YoY versus the Bloomberg consensus estimate of 19.7% and June’s reading of

43.8%. Manufacturing exports, accounting for around 80% of exports, moderated slightly to 18% YoY from 44.7% YoY

in June. Shipments of electronics, electrical equipment as well as vehicle and parts remained resilient for the month.

Exports of agriculture products rose at a slower pace for the month, printing at 24.3% YoY versus 36.0% the month prior.

Meanwhile, imports printed 45.9% YoY, lower than June’s print of 53.8% YoY.

Similarly, we expect the manufacturing production index (MPI) to ease in August following the imposition of strict

lockdown measures across the region. The closure of factories will also dampen manufacturing activities for the month.

Nonetheless, the slight easing of restrictions beginning on 1 September and the increase in vaccination rate, as supply

increases, should improve MPI performance from September onwards. Moreover, the newly launched Factory Sandbox

pilot programme should instil greater confidence in the recovery of manufacturing activities. The scheme will increase

the vaccination rate and ensure stricter containment of COVID-19 infections of factory workers, with priority for factories

under the automotive, electronics, food and beverages, as well as the medical equipment sectors.

The MPI printed 5.1% YoY for July versus the Bloomberg consensus estimate of 12.3% and June’s reading of

18.3%. The low base helped to partially support growth momentum for the month as the manufacturing sector was

impacted by the spread of infections in factories. In terms of its components, production of petroleum refining products,

apparel as well as computers and peripherals remained resilient for the month, printing at 23.2% YoY, 16.5% YoY and

32.6% YoY respectively. Production of other components declined for the month with sharpest stemming from the

production of rubber and plastic products (-20.6% YoY). Capacity utilisation also dropped to 58.1% from 62.5% in June.


Continued on page 21

| ECONOMIC REVIEW



Thailand: Moderate growth in 3Q21 Continued from page 20

Figure 1: YoY declined for CPI and …

% YoY Thailand: Headline CPI

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

-4.0

Source: CEIC, RHB Economics & Market Strategy

0.45

Jan-10

Jul-10

Jan-11

Jul-11

Jan-12

Jul-12

Jan-13

Jul-13

Jan-14

Jul-14

Jan-15

Jul-15

Jan-16

Jul-16

Jan-17

Jul-17

Jan-18

Jul-18

Jan-19

Jul-19

Jan-20

Jul-20

Jan-21

Jul-21

Figure 2: … MoM on account of government subsidies

% MoM

3MMA (sa)

1.0

0.8

0.6

0.4

0.2

0.0

-0.2

-0.4

-0.6

-0.8

-1.0

-1.2

Thailand: Headline CPI

Retail Oil Price (RHS)

Jul 18

Sep 18

Nov 18

Jan 19

Mar 19

May 19

Jul 19

Sep 19

Nov 19

Jan 20

Mar 20

May 20

Jul 20

Sep 20

Nov 20

Jan 21

Mar 21

May 21

Jul 21


%MoM

3MMA (sa)

8.0

6.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

-8.0

-10.0

-12.0

Figure 3: Overall exports performance and …

%YoY

80

60

40

20

0

-20

-40

Jul 11

Jul 12

Jul 13

Jul 14

Trade Balance (RHS)

Exports

Imports

Jul 15

Jul 16

Jul 17

Jul 18

Jul 19

Jul 20

USD bn

6,000

Jul 21

4,000

2,000

0

-2,000

-4,000

-6,000

-8,000

Figure 4: …momentum for major components

weakened

3mma %

MoM sa

20

10

0

-10

-20

-30

Jul-18

Oct-18

Jan-19

Apr-19

Exports: Agricutlure Products

Exports: Agro Industrial Products

Exports: Manufacturing Products

Exports: Oil-related products

Jul-19

Oct-19

Jan-20

Apr-20

Jul-20

Oct-20

Jan-21

Apr-21

Jul-21



Figure 5: MPI momentum on a downtrend

Figure 6: Declining capacity utilisation

% MoM,

3MMA (sa) MPI Auto Sales (RHS)

15.0

10.0

5.0

0.0

-5.0

-10.0

-15.0

Jul 11

Jul 12

Jul 13

Jul 14

Jul 15

Jul 16

Jul 17


Jul 18

Jul 19

% MoM,

3MMA (sa)

Jul 20

Jul 21

50

40

30

20

10

0

-10

-20

-30

-40

% Capacity Utilisation

80

75

70

65

60

55

50

May 18

Jul 18

Sep 18

Nov 18

Jan 19

Mar 19

May 19

Jul 19

Sep 19

Nov 19

Jan 20


Pre-COVID

Average

Mar 20

May 20

Jul 20

Sep 20

Nov 20

Jan 21

Mar 21

May 21

Jul 21


| ECONOMIC REVIEW



Thailand: Muted growth in economic activities in September

♦We expect price pressures to remain muted as we head into the 4Q21 following the expected extension of subsidies for

utilities and tuition fees. August CPI inflation printed -0.02% YoY versus the Bloomberg consensus estimate of 0.30% and

July’s reading of 0.45%.

♦We expect the momentum for exports to moderate in September as the impact of the restrictions are expected to last

throughout the month. Exports for August printed 8.93% YoY versus the Bloomberg consensus estimate of 15.10% and

July’s print of 20.27%.

♦Similarly, the momentum for manufacturing production index (MPI) growth is expected to remain soft in September as we

continue to anticipate the lasting impact of the restrictions to seep through factory activities. The MPI for August printed

-4.15% YoY, lower than the Bloomberg consensus estimate of 0% and July’s revised figure of 3.92.

♦ As for the benchmark interest rate, we continue to expect the Bank of Thailand (BoT) to keep the interest rate at 0.50%

for 2021 as the Thai economy slowly moves towards recovery. The BoT had maintained its benchmark interest rate at

0.50% at the monetary policy meeting on 29 September.

Soft momentum will continue from the impact of restrictions

We expect price pressures to remain muted for as we

head into the 4Q21. The Government is expected to

extend the subsidies for utility bills and tuition fees in

efforts to ease the burden due to the ongoing wave of

infections – thus dampening demand-pull price pressures.

Guidance from the Commerce Ministry indicates

that inflation should within the 0.7% to 0.8% range given

that the current measures on utility are extended.

August CPI inflation printed -0.02% YoY versus the

Bloomberg consensus estimate of 0.30% and July’s

reading of 0.45%. This is the first drop in CPI since

March 2021. Price pressures continued to be restrained

by the Government subsidies on utilities and tuition fees –

the housing component registered the sharpest drop in

price among the non-food group of the CPI basket. Lower

prices of certain fresh food such as rice, meat, and vegetables

also contributed to lower CPI. Core inflation also

fell to 0.07% YoY versus July’s print of 0.14%.

We expect the momentum for exports to moderate in

September as the impact of the restrictions are

expected to last throughout the month. Exports of

agricultural products should provide some form of support

for overall growth given its limited impact from the restrictions,

as observed in the August trade data. Moreover, the

Commerce Ministry has suggested that the surge in

imports of raw materials are indicative for stronger

exports growth in the coming months as most of these

goods would be reprocessed and exported out. The

weakness in the local currency should also continue to

support overall export growth for the year.

Exports for August printed 8.93% YoY versus the

Bloomberg consensus estimate of 15.10% and July’s

print of 20.27%. Moderation in exports growth for the

month were attributed to the COVID-19 related restrictions

imposed on some factories which had led to the decline in

production output – the industry component registered the

lowest growth at 3.3% YoY. Meanwhile, exports of agriculture

products continued to remain resilient with strong

growth for rubber, tapioca products as well as rice.

Imports rose to 47.92% YoY, higher than the Bloomberg

consensus estimate of 39.6% and 45.94% in July. The

strong uptick was driven by the rise in orders for raw materials

and capital goods.

The momentum for manufacturing production index

(MPI) growth is expected to remain soft in September

as we continue to anticipate the lasting impact of the

restrictions to seep through factory activities. Supply shortages

in raw materials may also continue to affect MPI

figures in September. Nonetheless, the ease in restrictions

and the increase in vaccination efforts amongst factory

workers are expected to show its affects as we approach

the 4Q21.

The MPI for August printed -4.15% YoY, lower than the

Bloomberg consensus estimate of 0% and July’s

revised figure of 3.92%. This is the first drop in MPI reading

since February 2021, 6 months into the outbreak.

Restrictions and the increase in infections have impeded

factory activities whilst shortages of raw materials such as

semiconductors and automotive parts have also caused

output to decline for the month. Production of electronic

components and boards registered the sharpest decline at

-23.70% YoY followed by automotive production at

-23.34% YoY and rubber and plastic products at -16.45%

YoY. Capacity utilisation also fell to 57.38% from 58.90% in

July.



| ECONOMIC REVIEW

Continued from page 22


Policy rate on hold at 0.5% for the remainder of 2021

We continue to expect the Bank of Thailand (BoT) to

keep the interest rate at 0.50% for 2021 as the Thai

economy slowly moves towards recovery. Improvements

in the vaccination rate and the gradual re-opening

of economic activities in stages provide the necessary

push towards an improvement in 4Q21 figures but

uncertainties remain at large as infections fluctuate.

The BoT had maintained its benchmark interest rate

at 0.50% at the monetary policy meeting on 29 September.

The Monetary Policy Committee (MPC) unanimously

voted to keep the interest rate unchanged and

continued to “view that financial measures are more

effective than a further reduction in the policy rate, which

was already low”. This contrasted with the last meeting

on 4 August whereby 2 members of the MPC voted to

cut the policy rate by 0.25 percentage point.

The MPC continues to assess that the Thai economy

will be “affected by the COVID-19 outbreak more than

expected with significant downside risks” in 2021 and

has kept the 2021 GDP forecast at 0.7% YoY from the

previous meeting. Meanwhile, a more optimistic tone

was placed for the outlook 2022 given that the BoT

expects the “economy to gradually recover mainly

owing to domestic spending in tandem with improving

confidence” given the “significant progress on vaccination

and earlier-than-expected relaxation of the

containment measures”. The BoT has raised its 2022

GDP forecast to 3.9% YoY from 3.7% YoY. Even so,

uncertainties surrounding the outlook remains.

Headline inflation has also been cut to 1% from 1.2%

previously as it is expected to “remain subdued in line

with weak domestic demand”.

Figure 1: BoT kept policy rate at 0.5%

4.0 % Thailand CPI Policy Rate (RHS) %

2.0

3.0

1.8

1.6

2.0

1.4

1.0

1.2

0.0

1.0

-1.0

-0.02

0.8

0.6

-2.0

0.4

-3.0

0.50 0.2

-4.0

0.0

05/2016

09/2016

01/2017

05/2017

09/2017

01/2018

05/2018

09/2018

01/2019

05/2019

09/2019

01/2020

05/2020

09/2020

01/2021

05/2021

09/2021


Figure 3: Exports fell on account of …

Figure 2: CPI momentum remains subdued

% MoM 3MMA

(sa)

1.0

0.5

0.0

-0.5

-1.0

-1.5

Thailand: Headline CPI

Retail Oil Price (RHS)

Jul 18

Sep 18

Nov 18

Jan 19

Mar 19

May 19

Jul 19

Sep 19

Nov 19

Jan 20

Mar 20

May 20

Jul 20

Sep 20

Nov 20

Jan 21

Mar 21

May 21

Jul 21

Sep 21


%MoM 3MMA

(sa)

8.0

6.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

-8.0

-10.0

-12.0

-14.0

Figure 4: … decline in exports of manufacturing goods

%YoY Trade Balance (RHS) Exports

80

Imports

60

40

20

0

-20

-40

Aug 11

Aug 12

Aug 13

Aug 14

Aug 15

Aug 16

Aug 17

Aug 18

Aug 19

Aug 20

USD bn

6,000

4,000

2,000

0

-2,000

-4,000

-6,000

-8,000

Aug 21

3mma % MoM

sa

20

10

0

-10

-20

-30

Aug-18

Nov-18

Feb-19

May-19

Aug-19

Exports: Agricutlure Products

Exports: Agro Industrial Products

Exports: Manufacturing Products

Exports: Oil-related products

Nov-19

Feb-20

May-20

Aug-20

Nov-20

Feb-21

May-21

Aug-21






| ECONOMIC REVIEW


Figure 5: MPI declined in August

Figure 6: Capacity utilisation dropped further

% MoM,

3MMA (sa) MPI Auto Sales (RHS)

15.0

10.0

5.0

0.0

-5.0

-10.0

-15.0

Aug 11

Aug 12

Aug 13

Aug 14

Aug 15

Aug 16

Aug 17

Aug 18

Aug 19

% MoM,

3MMA (sa)

Aug 20

Aug 21

50

40

30

20

10

0

-10

-20

-30

-40

80 % Capacity Utilisation

75

Pre-COVID Average

70

65

60

55

50

Jun 18

Aug 18

Oct 18

Dec 18

Feb 19

Apr 19

Jun 19

Aug 19

Oct 19

Dec 19

Feb 20

Apr 20

Jun 20

Aug 20

Oct 20

Dec 20

Feb 21

Apr 21

Jun 21

Aug 21



BANGKOK

RHB Securities (Thailand) PCL

10th Floor, Sathorn Square Office Tower 98, North Sathorn Road, Silom Bangrak,

Bangkok 10500 Thailand

Tel: +66 2088 9999

Fax :+66 2088 9799

| ECONOMIC REVIEW

By MATRADE Bangkok

Summary of Malaysia’s Trade Performance (September 2020/2021)

(Based from Department of Statistic, Malaysia and compiled by MATRADE)

• Malaysia’s Global Trade


• Malaysia’s global trade recorded a positive growth of

25.5 percent amounting to RM195.53 billion

(USD46.93 billion) for the period of September

2020/2021. Total exports increased by 24.7 percent

(RM110.83 billion; USD26.60 billion) while imports

increased by 26.5 percent (RM84.70 bill; USD20.33

billion) respectively.

(September 2020: RM155.84 billion / USD37.54 billion)

Table : Malaysia's External Trade, Annual (From 2015 to September 2021) (World) In RM

• Major import products from the world

Products

• Electrical and Electronic Products

• Chemicals & Chemical Products

• Petroleum Products

• Machinery, Equipment’s & Parts

• Manufactures of Metal

Total

(RM bill)

28.70

8.24

8.19

5.31

4.55

• Malaysia’s top trading partner to the world

Total

(USD bill)

6.88

1.98

1.96

1.27

1.09

As at September 2021

Year

TOTAL EXPORTS TOTAL IMPORTS TRADE BALANCE TOTAL TRADE

RM Mil Growth Rate % RM Mil Growth Rate % RM Mil Growth Rate % RM Mil Growth Rate %

2015 777,355.1 0.0 685,778.4 0.0 91,576.6 0.0 1,463,133.5 0.0

2016 786,964.2 1.2 698,818.7 1.9 88,145.5 -3.7 1,485,782.8 1.5

2017 934,926.8 18.8 836,422.2 19.7 98,504.6 11.8 1,771,349.0 19.2

2018 1,003,586.9 7.3 879,804.0 5.2 123,782.9 25.7 1,883,390.9 6.3

2019 995,071.9 -0.8 849,410.8 -3.5 145,661.1 17.7 1,844,482.7 -2.1

2020 983,826.8 -1.1 800,481.3 -5.8 183,345.4 25.9 1,784,308.1 -3.3

2020

(Jan-Sep) 712,067.7 0 588,816.9 0 123,250.7 0 1,300,884.6 0

2021

(Jan-Sep) 889,321.7 24.9 712,994.4 21.1 176,327.3 43.1 1,602,316.1 23.2

2021 (Aug) 95,586.5 0 74,198.5 0 21,388.0 0 169,785.0 0

2020 (Sep) 88,892.1 0 66,956.0 0 21,936.2 0 155,848.1 0

2021 (Sep) 110,833.9 24.7 84,703.6 26.5 26,130.3 19.1 195,537.5 25.5

Country

1. China

2. Singapore

3. USA

4. Japan

5. Taiwan

6. Hong Kong

7. Indonesia

8. Thailand

Total trade

(RM/USD billion)

RM38.44/ USD9.22

RM24.80/ USD5.95

RM18.76/ USD4.50

RM11.39/ USD2.73

RM10.36/ USD2.48

RM9.43/ USD2.26

RM8.56/ USD2.05

RM8.05/ USD1.93

Market

Share

19.0%

11.9%

9.8%

6.8%

5.2%

4.3%

4.1%

4.4%


Table : Malaysia's External Trade, Annual (From 2015 to September 2021) (World)

In USD

Year


USD Mil Growth Rate % USD Mil Growth Rate % USD Mil Growth Rate % USD Mil Growth Rate %

2015 199,158.1 0.0 176,011.0 0.0 23,147.1 0.0 375,169.1 0.0

2016 189,658.7 -4.8 168,429.6 -4.3 21,229.1 -8.3 358,088.3 -4.6

2017 217,722.1 14.8 194,749.6 15.6 22,972.5 8.2 412,471.7 15.2

2018 248,675.4 14.2 217,974.4 11.9 30,701.0 33.6 466,649.8 13.1

2019 240,199.3 -3.4 205,007.6 -5.9 35,191.7 14.6 445,206.9 -4.6

2020 234,609.0 -2.3 190,730.7 -7.0 43,878.3 24.7 425,339.7 -4.5

2020

(Jan-Sep) 168,425.4 0 139,176.1 0 29,249.3 0 307,601.5 0

2021

(Jan-Sep) 215,296.5 27.8 172,610.2 24.0 42,686.3 45.9 387,906.7 26.1

2021 (Aug) 22,635.3 0 17,570.5 0 5,064.8 0 40,205.8 0

2020 (Sep) 21,416.2 0 16,131.2 0 5,284.9 0 37,547.4 0

2021 (Sep) 26,603.1 24.2 20,331.1 26.0 6,272.0 18.7 46,934.3 25.0

• In term of services sector, Malaysia’s global trade

recorded a negative performance of 34.7% amounting

to RM 231.44 billion (USD57.86 billion) for the

period of January to December 2020. Total exports

decreased by 46.0% (RM91.72 billion; USD22.93

billion) and imports decreased by 22.7% (RM139.71

billion; USD34.92 billion).

Table : Malaysia's Trade In Services, Annual (From 2014 to December 2020)

EXPORTS (Credit) IMPORTS (Debit) TOTAL TRADE TRADE BALANCE

Year

Change %

Change %

Change % (Net) (+/-) Change %

Value (RM Mil.) Y-o-Y Value (RM Mil.) Y-o-Y Value (RM Mil.) Y-o-Y (RM Mil.) Y-o-Y

2014 137,618.263 148,324.508 285,942.771 -10,706.245

• Major export products to the world

Products

• Electrical and Electronic Products

• Petroleum Products

• Palm oil & palm oil based

agriculture products

• Manufactures of Metal

• Chemical & Chemical Products

Total

(RM bill)

41.05

9.34

7.75

6.76

6.04

Total

(USD bill)

9.85

2.24

1.86

1.62

1.45

2015 136,095.456 -1.1 156,727.046 5.7 292,822.502 2.4 -20,631.590 -92.7

2016 147,595.660 8.5 166,513.086 6.2 314,108.746 7.3 -18,917.426 8.3

2017 159,383.933 8.0 182,242.632 9.4 341,626.565 8.8 -22,858.699 -20.8

2018 162,374.512 1.9 179,889.445 -1.3 342,263.957 0.2 -17,514.933 23.4

2019 169,813.598 4.6 180,735.431 0.5 350,549.029 2.4 -10,921.833 37.6

2019

(Jan-Dec) 169,813.598 180,735.431 350,549.029 -10,921.833

2020

(Jan-Dec) 91,728.596 -46.0 139,713.905 -22.7 231,442.501 -34.7 -47,985.301 -339.4

2019 41,651.695 8.1 43,321.800 -2.2 84,973.495 2.6 -1,670.105 71.0

2019 41,388.507 3.7 44,821.064 -1.2 86,209.571 1.1 -3,432.557 37.1

2019 44,261.940 6.0 46,076.444 3.5 90,338.384 4.7 -1,814.504 34.2

2019 42,511.456 0.7 46,516.123 1.7 89,027.579 1.2 -4,004.667 -13.0


2020 33,057.086 -20.6 41,009.798 -5.3 74,066.884 -12.8 -7,952.712 -376.2

2020 18,441.857 -55.4 30,906.572 -31.0 49,348.429 -42.8 -12,464.715 -263.1



By MATRADE Bangkok

| ECONOMIC REVIEW


Trade Performance between Malaysia and ASEAN Country


Monthly Trade Performance for September 2021

Malaysia’s top trading partner in ASEAN

1. Singapore

2. Thailand

3. Indonesia

4. Vietnam

5. Philippines

Market

Share

46.6%

17.2%

16.1%

11.7%

5.7%

Changes

22.8%

23.4%

35.9%

34.2%

21.7%

Table : Malaysia's Total Trade By ASEAN Country, Annual

(From 2020 - September 2021) – In RM

2020 2021

Country

August F September F August P September I

RM Mil RM Mil RM Mil % Change RM Mil Change (Value) % Change

TOTAL 35,672.0 38,733.1 44,206.3 23.9 50,768.9 12,035.8 31.1

REPUBLIC OF SINGAPORE 17,406.7 18,703.2 20,248.3 16.3 24,802.1 6,098.9 32.6

REPUBLIC OF INDONESIA 4,665.2 5,232.9 7,481.7 60.4 8,569.9 3,336.9 63.8

THAILAND 6,124.6 7,135.7 7,240.1 18.2 8,050.7 915.0 12.8

SOCIALIST REP. OF VIET NAM 4,307.8 4,276.3 5,360.0 24.4 4,959.0 682.7 16.0

PHILIPPINES 2,118.3 2,435.1 2,886.7 36.3 2,749.2 314.1 12.9

BRUNEI DARUSSALAM 609.8 532.9 567.3 -7.0 1,067.8 534.9 100.4

UNION OF MYANMAR 282.1 242.8 216.1 -23.4 352.4 109.6 45.1

CAMBODIA 146.5 161.9 196.4 34.1 214.1 52.2 32.3

PEOPLE'S DEM. REP. LAO 11.0 12.3 9.6 -12.8 3.8 -8.5 -69.3

Table: Malaysia's Total Trade By ASEAN Country, Annual

(From 2020 – September 2021) – In USD

2020 2021

Country

August F September F . September I

USD Mil USD Mil USD Mil % Change USD Mil Change (Value) % Change

TOTAL 8,512.2 9,331.7 10,468.2 23.0 12,185.9 2,854.21 30.6

REPUBLIC OF SINGAPORE 4,153.6 4,506.0 4,794.9 15.4 5,953.2 1,447.13 32.1

REPUBLIC OF INDONESIA 1,113.2 1,260.7 1,771.7 59.1 2,057.0 796.27 63.2

THAILAND 1,461.5 1,719.1 1,714.5 17.3 1,932.4 213.24 12.4

SOCIALIST REP. OF VIET NAM 1,028.0 1,030.3 1,269.3 23.5 1,190.3 160.03 15.5

PHILIPPINES 505.5 586.7 683.6 35.2 659.9 73.22 12.5

BRUNEI DARUSSALAM 145.5 128.4 134.3 -7.7 256.3 127.92 99.6

UNION OF MYANMAR 67.3 58.5 51.2 -24.0 84.6 26.08 44.6

CAMBODIA 34.9 39.0 46.5 33.0 51.4 12.40 31.8

PEOPLE'S DEM. REP. LAO 2.6 3.0 2.3 -13.5 0.9 -2.06 -69.4

Trade Performance between Malaysia and Thailand


• As of September 2021, Thailand was ranked as

Malaysia’s:-

o 8th largest trading partner,

o 6th largest export destination and

o 8th largest source of import

o3rd top trading partner among ASEAN Countries

Bilateral Trade between Malaysia – Thailand

(September 2020/2021)

Total trade

• As for Malaysia’s trade with Thailand, total trade

recorded an increase of 12.8% amounting to RM8.05

billion (USD1.93 billion); for the period of September

2020/2021. (September 2020: RM7.13 billion /

USD1.71 billion).

• The monthly trade balance between Malaysia and

Thailand has decreased by 37.8% compared to the

same period last year amounting to RM545.7 million

(USD131.0 million); September 2020: RM877.5

million / USD211.4 million).

Table : Malaysia's External Trade, Annual

(From 2015 to September 2021) (THAILAND) (In RM)

Year


RM Mil Growth Rate % RM Mil Growth Rate % RM Mil Growth Rate % RM Mil Growth Rate %

2015 44,387.2 0.0 41,660.1 0.0 2,727.1 0.0 86,047.3 0.0

2016 44,092.4 -0.7 42,328.2 1.6 1,764.2 -35.3 86,420.6 0.4

2017 50,508.0 14.6 48,141.2 13.7 2,366.8 34.2 98,649.3 14.2

2018 57,060.8 13.0 48,623.7 1.0 8,437.1 256.5 105,684.5 7.1

2019 56,318.1 -1.3 44,276.6 -8.9 12,041.6 42.7 100,594.7 -4.8

2020 45,339.5 -19.5 34,300.1 -22.5 11,039.4 -8.3 79,639.6 -20.8

2020

(Jan-Sep) 33,264.0 0 24,027.8 0 9,236.3 0 57,291.8 0

2021

(Jan-Sep) 38,198.6 14.8 32,512.4 35.3 5,686.1 -38.4 70,711.0 23.4

2021 (Aug) 3,965.1 0 3,275.1 0 690.0 0 7,240.1 0

2020 (Sep) 4,006.6 0 3,129.1 0 877.5 0 7,135.7 0

2021 (Sep) 4,298.2 7.3 3,752.5 19.9 545.7 -37.8 8,050.7 12.8

Table : Malaysia's External Trade, Annual

(From 2015 to September 2021) (THAILAND) (In USD)

Year


USD Mil Growth Rate % USD Mil Growth Rate % USD Mil Growth Rate % USD Mil Growth Rate %

2015 11,388.6 0.0 10,665.0 0.0 723.6 0.0 22,053.6 0.0

2016 10,619.6 -6.8 10,203.4 -4.3 416.2 -42.5 20,823.0 -5.6

2017 11,756.1 10.7 11,206.0 9.8 550.1 32.2 22,962.1 10.3

2018 14,146.3 20.3 12,049.8 7.5 2,096.5 281.1 26,196.1 14.1

2019 13,602.7 -3.8 10,689.7 -11.3 2,913.0 38.9 24,292.4 -7.3

2020 10,809.5 -20.5 8,189.8 -23.4 2,619.7 -10.1 18,999.3 -21.8

2020

(Jan-Sep) 7,870.1 0 5,688.4 0 2,181.8 0 13,558.5 0

2021

(Jan-Sep) 9,249.4 17.5 7,878.6 38.5 1,370.9 -37.2 17,128.0 26.3

2021 (Aug) 939.0 0 775.5 0 163.4 0 1,714.5 0

2020 (Sep) 965.3 0 753.9 0 211.4 0 1,719.1 0

2021 (Sep) 1,031.7 6.9 900.7 19.5 131.0 -38.0 1,932.4 12.4

• Total trade in 2020 : RM79.63 billion (USD18.99

billion)



| ECONOMIC REVIEW


By MATRADE Bangkok

Exports

• Malaysia’s export to Thailand recorded a positive growth of 7.3% to a total of RM4.29 billion (USD1.03

billion) as compared to the same period last year (September 2020: RM4.00 billion; USD965.3 million).

• The increase in exports were contributed by the following :-

Table : Malaysia's Exports to Thailand (September 2021) - In RM

2020 2021

MITI Industry



TOTAL 3,282.4 4,006.6 3,965.1 20.8 4,298.2 291.6 7.3

LNG 0.0 41.8 196.4 0.0 187.7 145.9 349.1

Natural rubber 0.3 0.4 1.1 227.9 0.9 0.6 142.1

Crude Fertilizers and crude minerals 1.9 2.0 6.9 263.0 4.8 2.8 139.6

Palm oilbased

manufactured products 44.5 44.1 86.7 94.8 99.2 55.0 124.7

Petroleum Products 66.9 28.8 69.1 3.3 56.3 27.5 95.4

Rubber Products 58.3 67.5 87.6 50.1 106.2 38.7 57.4

Manufactures of Metal 163.0 141.4 206.9 26.9 218.8 77.5 54.8

Transport Equipment 110.2 89.1 37.1 -66.3 137.0 47.8 53.7

Paper & Pulp Products 24.2 22.6 32.4 33.6 32.8 10.2 45.0

Processed food 91.2 89.3 114.3 25.4 129.4 40.0 44.8

Table : Malaysia's Exports to Thailand (September 2021) – In USD

2020 2021

MITI Industry



TOTAL 783.3 965.3 939.0 19.9 1,031.7 66.41 6.9

LNG 0.0 10.1 46.5 0.0 45.1 34.99 347.5

Natural rubber 0.1 0.1 0.3 225.4 0.2 0.13 141.2

Crude Fertilizers and crude minerals 0.5 0.5 1.6 260.2 1.1 0.67 138.7

Palm oilbased

manufactured products 10.6 10.6 20.5 93.3 23.8 13.17 123.9


Rubber Products 13.9 16.3 20.7 49.0 25.5 9.24 56.8



Paper & Pulp Products 5.8 5.4 7.7 32.5 7.9 2.42 44.5

Processed food 21.8 21.5 27.1 24.4 31.1 9.53 44.3

On the export market share, the structure are mainly led by the Electrical & Electronic products (-16.6%;

RM1.35 billion; USD1.03 billion) and followed by the other market shares:-

Table : Malaysia Export Market Share to Thailand (September 2021) - In RM

Table : Malaysia Export Market Share to Thailand (September 2021) - In USD

2020 2021

MITI Industry August F September F August P September I


TOTAL 3,282.4 4,006.6 3,965.1 20.8 4,298.2 291.6 7.3

Electrical & electronic products 1,112.1 1,627.3 954.6 -14.2 1,357.2 -270.1 -16.6

Chemicals & chemical products 309.0 408.1 480.7 55.6 526.7 118.6 29.1

Other manufactures 287.7 397.2 320.3 11.3 373.9 -23.4 -5.9

Crude Petroleum 293.3 328.0 573.8 95.6 313.7 -14.3 -4.4

Machinery, Equipment & Parts 148.8 171.5 165.6 11.3 219.7 48.2 28.1


LNG 0.0 41.8 196.4 0.0 187.7 145.9 349.1

Optical & Scientific Equipment 101.6 135.4 151.2 48.8 138.8 3.4 2.5


Processed food 91.2 89.3 114.3 25.4 129.4 40.0 44.8

2020 2021



TOTAL 783.3 965.3 939.0 19.9 1,031.7 66.41 6.9

Electrical & electronic products 265.4 392.1 226.1 -14.8 325.8 -66.29 -16.9


Other manufactures 68.7 95.7 75.9 10.5 89.7 -5.97 -6.2

Crude Petroleum 70.0 79.0 135.9 94.1 75.3 -3.73 -4.7

Machinery, Equipment & Parts 35.5 41.3 39.2 10.4 52.7 11.42 27.6


LNG 0.0 10.1 46.5 0.0 45.1 34.99 347.5

Optical & Scientific Equipment 24.3 32.6 35.8 47.6 33.3 0.69 2.1


Processed food 21.8 21.5 27.1 24.4 31.1 9.53 44.3



| ECONOMIC REVIEW


By MATRADE Bangkok

o Chemicals & Chemical Products (29.1%; RM526.7 million; USD126.4 million)

o Other Manufactures (-5.9%; RM373.9 million; USD89.7 million)

o Crude Petroleum (-4.4%; RM313.7 million; USD75.3 million)

o Machinery, Equipment & Parts (28.1%; RM219.7 million; USD52.7 million)

o Manufactures of Metal (54.8%; RM218.8 million; USD52.5 million)

o LNG (349.1%; RM187.7 million; USD45.1 million)

o Optical & Scientific Equipment (2.5%; RM138.8 million; USD33.3 million)

o Transport Equipment (53.7%; RM137.0 million; USD32.9 million)

o Processed Food (44.8%; RM129.4 million; USD31.1 million)

Imports

• Malaysia’s import from Thailand increased about 19.9 percent to RM3.75 billion (USD900.7 million) from

RM3.12 billion (USD753.9 million) for the same period last year.

Table : Malaysia Imports From Thailand (September 2021) - In RM

2020 2021



TOTAL 2,842.2 3,129.1 3,275.1 15.2 3,752.5 623.4 19.9

Electrical & electronic products 728.1 758.7 662.9 -9.0 850.7 92.0 12.1


Transport Equipment 336.0 346.6 431.2 28.4 366.3 19.8 5.7

Natural rubber 262.1 279.9 345.8 31.9 299.2 19.3 6.9


Machinery, Equipment & Parts 151.5 227.9 160.8 6.1 204.9 -23.0 -10.1

Processed food 172.6 173.2 175.4 1.7 204.1 30.9 17.8

Rubber Products 137.2 155.5 150.7 9.9 153.6 -2.0 -1.3

Other agricultures 85.9 83.8 114.1 32.9 145.0 61.2 73.0

Other manufactures 79.7 87.2 100.5 26.0 110.8 23.6 27.1

Table : Malaysia Imports From Thailand (September 2021) - In USD

2020 2021



TOTAL 678.2 753.9 775.5 14.4 900.7 146.83 19.5

Electrical & electronic products 173.7 182.8 157.0 -9.6 204.2 21.39 11.7


Transport Equipment 80.2 83.5 102.1 27.4 87.9 4.43 5.3

Natural rubber 62.5 67.4 81.9 30.9 71.8 4.39 6.5


Machinery, Equipment & Parts 36.2 54.9 38.1 5.3 49.2 -5.72 -10.4

Processed food 41.2 41.7 41.5 0.9 49.0 7.25 17.4

Rubber Products 32.7 37.5 35.7 9.0 36.9 -0.62 -1.6

Other agricultures 20.5 20.2 27.0 31.9 34.8 14.61 72.4

Other manufactures 19.0 21.0 23.8 25.1 26.6 5.59 26.6

• Total import in 2020 : RM34.14 billion (USD8.15 billion)

• The import structures are mainly focused on;

o Electrical and electronic products (12.1%; RM850.7 million; USD204.2 million)

o Chemicals & chemical products (49.3%; RM500.1 million; USD120.9 million)

o Transport Equipment (5.7%; RM366.3 million; USD87.9 million)

o Natural Rubber (6.9%; RM299.2 million; USD71.8 million)

o Petroleum Products (143.6%; RM264.9 million; USD63.6 million)

• Imports are mainly due to the market demand from our Malaysian companies in the E&E, Transport Equipments,

Chemicals and Natural Rubber.

• The demand for automotive sector has also declined due to the ongoing COVID-19 pandemic. Despite this,

Thailand remains as an important player in Electrical and Electronics related products and Automotive in the

ASEAN region.


| LEGAL BRIEF


On September 16, 2021, Thailand’s Board of Investment (BOI) announced the consolidation of its list of

promoted digital activities into a single new category for development of software, platforms for digital

services, or digital content (5.10). When Announcement No. Sor. 4/2564 came into effect the following day,

the new category subsumed and replaced the previous categories of “software” (5.7), “e-commerce” (5.8),

and “digital services” (5.9).

The new category is entitled to A2-level incentives, which include a capped eight-year corporate income tax

(CIT) exemption along with other tax and non-tax incentives. For this category, the BOI has specified two

extraordinary allowances rarely seen in other promotional categories. The first is that the cap calculation for

the annual CIT exemption is based on the actual amount of prescribed expenses (e.g., 100% of remuneration

to Thai IT personnel and 200% of their training costs). The second is that the BOI will allow investment

projects under this category to include used machinery.

To be eligible for BOI promotion under the new digital activity category, projects must:

• hire new Thai IT personnel whose annual salary expenses combined equal at least THB 1.5 million

(approximately USD 44,275); and

• have a development process for the software, platform for digital services, or content to be carried out in

Thailand under BOI approval.

Investment projects under this new category are not eligible for additional merit-based incentives or for

investment promotion measures for small and medium enterprises (SMEs).

Projects that qualify for CIT exemption must derive their revenue from sales or services directly related to

the software, platforms for digital services, or digital content developed under BOI promotion. In addition,

the BOI specifies that retail or wholesale business (e.g., the sale of goods through the platform) is not

covered by the new category and therefore is not considered a BOI-promoted activity.

Companies seeking BOI promotion that also wish to apply for the Eastern Economic Corridor (EEC)

scheme for human resources development must notify the BOI when submitting the promotion application.

Once a promoted project has been approved, that request cannot be amended.

For more details on BOI promotion for digital activities, or on any aspect of investment promotion in Thailand,

please contact Napassorn Lertussavavivat at napassorn.l@tilleke.com or +66 2056 5662, or Sorawit

Partomtanasarn at sorawit.p@tilleke.com or +66 2056 5532.

Napassorn Lertussavavivat

Associate

napassorn.l@tilleke.com

Sorawit Partomtanasarn

Associate

sorawit.p@tilleke.com


| LEGAL BRIEF


On September 15, 2021, Thailand’s Securities and Exchange Commission (SEC) announced a prospective

new scheme that will enable small and medium enterprises (SMEs) and startups in Thailand to raise funds

through public offerings. The SEC regulations to implement this new scheme are expected by the first quarter

of 2022.

Since 2019, the SEC has allowed SMEs and startups in Thailand to raise funds via private placements or

crowdfunding. The new SEC scheme will allow SMEs and startups to raise funds on a larger scale via a

new type of public offering (the so-called SME-PO). The SEC also plans to establish the “SME Board,” a

secondary market for trading the stocks of SMEs.

Under the new SEC scheme, SMEs and startups that wish to proceed with an SME-PO must be structured

as public companies with investor protection mechanisms in accordance with the Public Company Act B.E.

2535 (1992). Although SEC representatives have previously indicated that SME-POs would be subject to

an information-based approach instead of the normal approval process for public offerings, the September

15 announcement does not detail this further, beyond noting that the SEC may deem it appropriate in future

to relax certain requirements such as filing for approval, appointment of an independent financial advisor,

and fees.

Investors in public offerings for SMEs and startups must be sophisticated investors who are risk-tolerant

and well capitalized, such as institutional investors, private equity or venture capital firms, angel investors,

or an SMEs’ own directors, employees, or affiliates.

Tilleke & Gibbins will continue to follow the development of regulations for SME-POs, as the rules and criteria

described here are still subject to change. For more information on fundraising alternatives for SMEs

and startups, or on any aspect of capital markets regulations in Thailand, please contact Onunya Chanpen

at onunya.c@tilleke.com or Kobkit Thienpreecha at kobkit.t@tilleke.com.

Onunya Chanpen

Senior Associate

onunya.c@tilleke.com

Kobkit Thienpreecha

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By Samitivej Hospitals

| HEALTH CORNER

HIGHLIGHTS:

• Everybody must continue social distancing to prevent a

second wave of the disease. This is particularly important as

children start their new school term.

• Encourage personal hygiene among children by teaching

them the importance of frequently washing their hands and

not touching their faces, including the eyes and mouth, due to

the increased risk of infection.

• Receiving the influenza vaccination can build immunity and

reduce the risk of respiratory infections, which is important

because COVID-19 is also an infection that affects the lungs

and respiratory tract. Preventing two infections from attacking

your respiratory tract at the same time can help keep you safe.

The COVID-19 situation in Thailand has improved significantly, with many shopping centers once more open for business,

giving people the opportunity to get out of the house.

However, it is vital that everyone strictly adhere to social distancing measures when venturing out to keep themselves and

others safe. It is also an exciting time for children, as they await their school reopening and the chance to meet up with friends

and teachers they have not seen in a long time. Parents may feel uneasy about preparing their children for the return to school.

There have been news from other countries of children who have gone back to school only to contact COVID-19 and become

part of a second wave of the disease. So what can parents do to help keep their children safe?

Whether we are talking about COVID-19 or any other infectious disease, parents must understand and implement preventive

measures. There are often outbreaks of infections or diseases whenever a school reopens after its annual break. Such infections

traditionally include influenza, dengue fever, RSV, and hand, foot and mouth disease. Preventive measures, which can

keep both parents and their children free from illness and disease, remain of paramount importance.

The new normal and children

Preventing the contact of disease is no different for children than it is for adults, although infants may not realise the importance

of what they are being asked to do. Constant reminders and encouragement from their elders, until the positive behavior

becomes a habit, may be necessary to ensure children play their part in the new normal, whether at school, with friends or out

in public. In this way, they will eventually be able to maintain their happiness while staying free from disease. Measures to

follow include:

• Ensure social distancing by remaining at least 1-2 meters apart from other students and teachers, because there is no effective

way to tell where bacteria and germs may be present. This is what is meant by implementing a new way of life with physical

distancing.

• Sit apart while eating. Food shields and separation boards, like those found in shopping centers, provide protection against

coughs, sneezes and airborne saliva.

• Keep a safe distance when standing in line.

• Ensure personal hygiene is maintained by frequently washing hands.

• Do not touch your face, especially the mouth and eyes, as a virus could be present on your hands without your knowledge.

• Teach children to wear a mask at all times, especially in classrooms which are often air-conditioned and lack a steady air flow.

• If a child has symptoms, such as a fever of over 37.5⁰ Celsius, a runny nose, and/or cough, they should stay away from their

classmates and inform a teacher who can remove them from class and request the child’s parents to take them to the hospital

for a thorough diagnosis.

However, as we know all too well, children enjoy getting together and playing with their friends, making it essential that we

teach them how to stay safe and try to keep them occupied in other ways.


Continued page 32

By Samitivej Hospitals

| HEALTH CORNER

Wearing a mask and face shield in school

Wearing a face mask—whether it is a cloth mask or surgical

mask—is considered the most effective form of prevention.

Wearing a face shield on its own does not offer the same

level of protection because the opening at the bottom

provides a gap through which germs can escape or enter.

Thus, if only one of these can be worn, a cloth or surgical

mask is the safest option. However, if both are available they

should be worn together in order to provide the most effective

protection possible.

How can schools protect their students?

Schools are considered public spaces, so they should implement

measures aimed at keeping their students as safe as

possible:

• Maintain a suitable distance when lining students up,

whether it be for the national anthem or to enter classrooms.

• Place markers on the floor where lines are formed, including

the lunch area, stationery store, and café, to ensure

social distancing is maintained.

• Implement regular hand washing and disinfecting.

• Ensure students and teachers wear masks at all times.

• Organise classroom tables and chairs to maintain a

distance of at least 1-2 meters between students. Avoid

putting tables together for group work and ensure children

are not facing closely to one another.

• Schools may need to set up special public health boards to

manage the situation and ensure measures are adhered to.

They should consider placing signage throughout the school

grounds, and regularly communicating safety measures to

parents, guardians and children.

• For children in kindergarten, teachers should be taking them

to wash their hands before and after eating, as well as after

classroom activities. There will need to be a particular focus

on ensuring these children wear their masks at all times.


with their children. During this time, when many schools are

closed and travel is not possible, parents can maintain childhood

development by adhering to the following advice:

• Encourage children to maintain a routine while at home,

including waking up at a reasonable hour, bathing, brushing

teeth, dressing, eating regularly, helping with the housework,

playing sports and partaking in family activities. Such

activities should take place at designated times of the day or

as close to those times as possible.

• Set aside family time each day.

• Young infants should be taking part in activities aimed at

developing a comprehensive range of skills, such as gross

and fine motor skills, communication skills, independence,

self-help skills and social skills. These may involve play or

spending time with family members. Electronic device

usage should be limited as this can have a detrimental effect

on a child’s health and increase the chance of developing a

screen addiction.

• Parents may wish to take older children along when

grocery shopping, asking them to read product details or

work out discounts in order to aid their reading and mental

calculation skills. Going out will also help them get into the

habit of wearing a mask and frequently washing their hands.

• Some schools offer online tutoring or home schooling,

which requires parents to be available and assist their

children.

The new normal will require all of us to adjust our behaviors

as the world around us changes, but this can be beneficial

in helping our children stay fit, healthy and free from illness.

Boost your child’s immunity

• The influenza vaccine is recommended for children

because, similarly to COVID-19, influenza is an infection that

affects the lungs and respiratory tract. By building immunity

to the flu, we can keep the respiratory system strong in case

the child subsequently suffers from COVID-19.

• All children should receive the full complement of basic

essential vaccinations, including the IPD vaccine and

influenza vaccine, as these will strengthen their overall

immunity to disease.

• Eat a healthy, balanced diet.

• Get plenty of rest, including at least 8 hours of sleep per

night.

• Drink at least 6-8 glasses of water a day.

Maintaining childhood development during the

COVID-19 era

The COVID-19 pandemic has forced many parents to work

from home, but this has also resulted in more time to spend

Author

Kakanang Jantarapagdee, M.D.,

Developmental and Behavioral

Pediatrics


| TRADE EVENTS Thailand & Malaysia

THAILAND 2022

February

March

April

9 - 11 February 2022

Tube Southeast ASIA Bangkok

Venue: Bangkok International Trade & Exhibition

Centre (BITEC), Bangkok

www.tube-southeastasia.com

9 - 11 February 2022

Medical Fair Thailand Bangkok



www.medicalfair-thailand.com

14 - 16 February 2022

Pumps & Valves Asia Bangkok



www.pumpsandvalves-asia.com

1- 2 March 2022

Last Mile ASEAN Bangkok



www.lastmileasean.com

9 - 12 March 2022

Metalex Bangkok



www.metalex.co.th

24 - 27 March 2022

Printing & Packaging Expo

Venue: IMPACT Exhibition Center, Nonthaburi

www.ptpackexpo.com

23 March - 3 April 2022

Bangkok International Motor Show

Venue: IMPACT Exhibition Center, Nonthaburi

https://bangkok-motorshow.com/

Expected April 2022

Asia Print Expo 2022



http://www.fespa.com/

Expected April 2022

Thailand Auto Parts & Accessories



www.thailandautopartsfair.com

MALAYSIA 2022

February March April

21 - 23 February 2022

IPTC

Venue: Kuala Lumpur Convention Centre (KLCC),

Kuala Lumpur

https://www.iptcnet.org

22 - 24 February 2022

ASEAN Ports & Shipping

Venue :InterContinental, Kuala Lumpur

https://www.transportevents.com

25 - 27 February 2022

TCE Wedding Expo

Venue: Mid Valley Exhibition Centre Mid Valley

Megamall, Kuala Lumpur

https://www.tcewedding.com.my/

8 - 11 March 2022

Malaysian International Furniture Fair

Venue :MITEC & WTCKL, Kuala Lumpur

https://https://2021.miff.com.my/

9 - 12 March 2022

EFE Export Furniture Exhibition


Kuala Lumpur

https://www.efe.my/about-efe

16 - 19 March 2022

MARVEX Kuala Lumpur


Kuala Lumpur

https://marvex.my

29 March - 1 April 2022

FHM Food & Hotel

Venue: Kuala Lumpur Convention Centre

(KLCC), Kuala Lumpur

https://www.foodandhotel.com

8 - 10 April 2022

HOMEDEC Penang

Venue: Setia SPICE Arena, Penang

https://homedec.com.my/

15 - 18 April 2022

Malaysia International Jewellery Fair

Venue: Kuala Lumpur Convention Centre

(KLCC),

Kuala Lumpur

http://mijf.com.my

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