Thailand

March 9, 2022

Indonesia’s Prajogo Pangestu Gets Full Control Of Star Energy, Buying Thailand’s BCPG 33% Stake For $440 Million

Green Era, a private Singapore-based company controlled by Indonesian billionaire Prajogo Pangestu, has bought 33.33% of Star Energy from Thailand’s BCPG for $440 million, giving him full ownership of three geothermal projects in Indonesia. Star Energy’s projects have a total gross capacity of 875 MW. Prajogo Pangestu already owned 66.6% of Jakarta-headquartered Star Energy through Barito […]

March 9, 2022

Thailand: State slashes excise tax on fuels used by Egat

The cabinet on Tuesday approved cutting the excise tax on diesel and bunker oil used to generate electricity by the Electricity Generating Authority of Thailand (Egat) to zero in a bid to lower electricity bills for six months. Deputy government spokeswoman Rachada Dhnadirek said the cabinet agreed to reduce the excise tax on diesel oil […]

March 9, 2022

Thailand: Gold near 19-month high as ban on Russian oil drives flight to safety

Gold held near a 19-month high following a ban on Russian oil imports, as mounting concerns over inflation and economic growth boost demand for the haven asset. In Thailand, the Gold Traders Association announced on Wednesday morning the buying prices at 31,320.56 baht per baht-weight for gold ornaments and 31,900 baht per baht-weight for gold […]

March 9, 2022

Thailand: Revenue Dept sees higher tax collection than expected

The Revenue Department collected 700 billion baht in tax, 85 billion baht more than the estimated 615 billion, in the first five months of fiscal year 2022 (October 2021 to February 2021), it reported on Tuesday. The higher-than-estimated collection is mainly due to an accelerating economic recovery from the impact of Covid-19 in late 2021 […]

March 9, 2022

Thailand: Baht weakening ‘could slow’ if market exits risk-on state

The baht opened at 33.22 to the US dollar on Wednesday, weakening from Tuesday’s close of 33.19, the weakest in a month. Krungthai Bank market strategist Poon Panichpibool predicted the Thai currency would move between 33.10 and 33.30 during the day. Poon said the baht was weakening due to foreign investors selling their short-term bonds. […]

March 9, 2022

Thailand: Cabinet okays VAT exemption, income tax deduction on cryptocurrencies, digital tokens

The Cabinet on Tuesday approved value-added tax (VAT) exemption and personal income tax deduction on cryptocurrencies and digital token trading. The draft royal decree on VAT exemption, which covers the trade of cryptocurrencies or digital tokens in digital asset exchanges and digital currencies issued by the Bank of Thailand (BOT), will come into effect from […]

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