Hat Yai floods inflict Bt25 billion economic blow – Kasikorn Research Centre

12 Sept 07:57 Key points summarised by AI

Severe flooding in Hat Yai, Songkhla province, is projected to cause an economic loss of approximately 25 billion baht, according to the Kasikorn Research Centre.
The floods significantly impact Hat Yai's vital tourism sector, a key economic hub, affecting thousands of Malaysian tourists weekly.
The agricultural sector faces substantial losses, particularly rubber producers (4-6 billion baht) and palm oil plantations (2 billion baht), with palm oil recovery potentially taking up to seven years.
Economists urge the government to provide more substantial financial assistance, such as larger cash handouts, to help affected residents and industries.
The Thai Chamber of Commerce warns that ongoing flooding in southern Thailand could lead to economic losses of up to 15 billion baht if it continues for a month, jeopardizing the crucial annual tourism high season.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.