Key View

• We at Fitch Solutions still expect the Bank of Thailand to cut its policy interest rate by 25bps by the end of 2019.
• The central bank’s tone remains dovish, and is now further worried by the impact of what it deems as strong currency appreciation on the external sector.
• Our view remains supported by two key factors; slowing growth

Key View:

• We believe Thailand’s S-Curve policy, which targets domestic production of next generation vehicles such as Electric Vehicles will attract OEMs into the country through the provision of incentives aimed at reducing production related costs.
• Local production of Electric Vehicles will greatly reduce the costs of such vehicles as high

Key View: 

• We highlight Thailand and Japan as attractive biomass power investment destinations over the next decade. Thailand is receiving strong government support for the sector amidst power mix diversification efforts and increasing investor interests, while Japan's strong pipeline of biomass projects will continue to facilitate capacity

Key View:

• Growth opportunities for Thailand's refiners appear increasingly limited, due to mediocre domestic demand growth for refined fuels and rising competition in the export market.
• Competition in the regional export market is intensifying amid a surge in oil products exports from China.
• This will prompt Thailand’s refiners to focus on

Key View

• At Fitch Solutions we believe risks of disruptive demonstrations have increased as political tensions have heightened considerably following Thai Raksa Chart party’s failed nomination of Princess Ubolratana Rajakanya as its candidate for Prime Minister, which drew a rebuke from the King.
• The pro-military camp is likely alarmed at the

Key View:

• 2G shutdown will have limited impact on Thailand’s overall mobile market trajectory and profitability
• The practice of refarming spectrum for advanced data services will continue to gather momentum in more mature telecoms markets in Southeast Asia

The National Broadcasting and Telecommunications Commission (NBTC) of Thailand has

Key View

• We believe that the Bank of Thailand will likely be on hold in 2019, following its decision to raise its policy interest rate by 25bps to 1.75% during its December 19 monetary policy meeting.
• Slowing economic growth, below-target inflation and reduced concern over financial stability will result in an unchanged monetary policy stance

Key View

In the most recent update of our Autos Production Risk/Reward Index (RRI), Thailand's overall score has risen to 72.3 out of a possible 100, from 68.5 last quarter. As a result of this improve score, the country now ranks in first place in Asia and second globally for its attractiveness as an autos production base. Automakers in the

Thailand's consumer spending will see an uptick in 2018, driven by an upward revision in GDP forecast. Existing favourable conditions of low unemployment, rising incomes and high frequency indicators pointing to the strength of the consumer will support our bright consumer outlook for Thailand.

• Within our consumer spending sub-segments, we note

DTAC will likely bid for more bandwidth in the upcoming 1800MHz spectrum auction despite agreeing to a deal to use TOT's 2300MHz frequencies on concession. Financial stress in the sector, resulting from 4G price competition could weigh on the ability of other operators to buy more spectrum.

The National Broadcasting and Telecommunications