Business
Thai Airways Plans Rehabilitation Exit by Mid-2025: Banks to Benefit
Thai Airways International (THAI) is gearing up to exit its rehabilitation scheme by mid-2025, with major banks such as Bangkok Bank (BBL) and Krungthai Bank (KTB) set to benefit. The airline’s exit plan offers creditors multiple repayment options, boosting confidence in the financial sector.
Thai Airways’ Rehabilitation Exit Timeline
Positive Shareholder Equity Anticipated by Early 2024
Thai Airways has submitted reports to the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission (SEC), indicating that it expects to achieve positive shareholder equity by February 2024. Following this, the airline is preparing to exit its rehabilitation plan by April 2025.
Central Bankruptcy Court Approval Expected in May
Approval from the Central Bankruptcy Court for THAI’s exit is anticipated in May 2025. Following this, Thai Airways shares could resume trading on the SET by June 2025, signaling the company’s recovery and return to regular business operations.
Impact on Major Creditors: BBL and KTB
Debt Repayment Plans for Financial Institutions
Bangkok Bank (BBL) and Krungthai Bank (KTB) are among the major creditors expected to benefit from the airline’s rehabilitation exit. According to Chalie Kueyen, a banking analyst at KGI Securities (Thailand), these two banks hold around 31 billion baht in unsecured debt as part of a larger debt group amounting to 404 billion baht.
Debt Servicing and Conversion Options
The banks, along with other creditors, are being offered several options for debt repayment. This includes a mandatory and voluntary debt-to-equity conversion at a rate of 2.54 baht per share, or an extension of the repayment period by up to 15 years with an interest rate of 1.5%. The debt to banks has been serviced regularly since THAI’s rehabilitation plan began in 2020, ensuring financial stability for the creditors.
What This Means for Thai Airways and Its Creditors
A Bright Future for THAI and Banking Sector
Thai Airways’ exit from the rehabilitation scheme is expected to bring financial relief to its creditors, particularly BBL and KTB. Both banks are well-prepared, having made provisions for the airline’s debts since the restructuring began. The successful exit will not only bolster the airline’s recovery but also strengthen the financial position of its creditors.
Key Milestone for Thailand’s Aviation Industry
The airline’s return to the SET and completion of its rehabilitation marks a significant milestone for Thailand’s aviation industry. The gradual recovery of THAI from its financial struggles highlights the effectiveness of the rehabilitation plan and the resilience of the country’s economy.
Business
10 In-Demand Careers for 2025: Future Proof Your Career
Exploring the Future Job Market: Top Careers to Consider
As we approach 2025, the job market is undergoing significant changes driven by technological advancements, demographic shifts, and evolving consumer needs. According to the World Economic Forum, while approximately 85 million jobs may be replaced by machines, an estimated 97 million new roles are set to emerge. This article highlights ten in-demand careers that are expected to thrive in the coming years.
Key Factors Driving Job Growth
The demand for skilled professionals is being fueled by several key trends, including the rise of digital technology, the need for data analysis, and a growing focus on sustainability. Understanding these trends can help job seekers target their career paths effectively.
Top 10 In-Demand Careers for 2025
1. Software Developer
Software developers are crucial in creating applications and systems that drive businesses forward. Their expertise in programming languages and software design makes them indispensable in today’s digital landscape.Salary Range: 25,000-140,000 baht/month
2. AI & Machine Learning Engineer
With artificial intelligence becoming integral to various industries, AI and machine learning engineers are in high demand. They specialize in developing algorithms and models that enable machines to learn from data.Salary Range: 60,000-80,000 baht/month
3. Data Analyst
Data analysts play a vital role in interpreting complex data sets to inform business decisions. Their ability to derive insights from data helps organizations optimize their strategies and improve performance.Salary Range: 40,000-80,000 baht/month
4. Data Scientist
Data scientists focus on advanced analytics and predictive modeling to provide actionable insights for businesses. They combine statistical knowledge with programming skills to enhance decision-making processes.Salary Range: 35,000-80,000 baht/month
5. Digital Marketing Specialist
Digital marketing specialists leverage online platforms to create effective marketing strategies. Their skills in content creation and data analysis help businesses engage with their target audiences effectively.Salary Range: 30,000-80,000 baht/month
6. Cybersecurity Professional
As cyber threats increase, cybersecurity professionals are essential for protecting organizational data and systems. They implement security measures and respond to incidents to safeguard against breaches.Salary Range: 60,000-100,000 baht/month
7. Cloud Engineer
Cloud engineers design and manage cloud-based infrastructure and services. With the growing adoption of cloud computing, their expertise is crucial for organizations transitioning to cloud environments.Salary Range: 50,000-90,000 baht/month
8. Nurse Practitioner
The healthcare sector is experiencing a surge in demand for nurse practitioners who provide primary care services. Their role is vital in addressing the needs of an aging population and increasing healthcare accessibility.Salary Range: 120,000 baht/month
9. Renewable Energy Technician
As the world shifts towards sustainable energy sources, renewable energy technicians are becoming increasingly important. They install and maintain systems such as solar panels and wind turbines.Salary Range: $46,000/year (approx. 40,000 baht/month)
10. Content Creator
Content creators produce engaging material across various platforms to connect with audiences. Their creativity in writing, video production, and social media management drives engagement and brand awareness.Salary Range: 25,000-50,000 baht/month
Preparing for Future Careers
The job market of 2025 promises exciting opportunities across various sectors driven by technology and sustainability initiatives. By focusing on developing relevant skills for these in-demand careers—such as software development, data analysis, and cybersecurity—individuals can position themselves for success in a rapidly evolving landscape. Embracing continuous learning will be essential for thriving in this dynamic environment.
Business
Thailand Commits to Becoming an AI Learning Hub
Ministers Announce Plans for AI Governance Collaboration
Thailand is dedicated to advancing global trust in artificial intelligence (AI) governance and establishing itself as a learning hub for AI through collaboration with UNESCO, according to Prasert Jantararuangthong, the Minister of Digital Economy and Society (DES). This initiative aims to enhance the ethical application of AI technologies while fostering skilled professionals in the field.
Goals for AI Workforce Development
The Ministry of Higher Education, Science, Research and Innovation (MHESI) has set ambitious goals to increase the number of AI-skilled workers by adding 30,000 engineers over the next three years. This plan includes generating 100 AI innovations valued at 40 billion baht and promoting AI adoption across 600 agencies nationwide.
Significant Increase in AI Adoption Rates
According to the AI Readiness Measurement 2024 report by the Electronic Transactions Development Agency and the National Science and Technology Development Agency, AI adoption plans among Thai organizations have reached 73.3%, reflecting an increase of nearly 20 percentage points year-on-year. This surge indicates a growing recognition of the importance of AI in various sectors.
Hosting the UNESCO Global Forum on AI Ethics
On Wednesday, the DES Ministry, MHESI, the Education Ministry, and UNESCO announced their partnership to host the 3rd UNESCO Global Forum on the Ethics of AI 2025, themed “Ethical Governance of AI in Motion.” This event is scheduled to take place from June 24 to 27, 2025, in Bangkok and will serve as a platform for knowledge exchange and collaboration on AI governance.
Commitment to Ethical AI Implementation
Prasert emphasized that Thailand’s commitment aligns with UNESCO’s AI Readiness Assessment framework, which is recognized globally. The country has recently introduced key frameworks such as the AI Governance Guideline for Executives and the Generative AI Governance Guideline for Organizations. These resources aim to ensure responsible and transparent implementation of AI at all organizational levels.
Multilateral Collaboration for Developing Countries
The upcoming forum is expected to foster multilateral collaboration and build AI governance capacity in developing countries. It highlights Thailand’s dedication to global trust in AI governance while positioning itself as a leader in ethical AI practices.
Integration of AI Technologies Across Industries
Suphachai Jaismut, vice-minister for MHESI, stated that Thailand is prepared to integrate AI technologies across various industries, driven by a commitment to advancing research and development (R&D). This integration is crucial as Southeast Asia’s digital economy continues to grow rapidly.
Addressing Challenges in the Digital Economy
While advancements in AI infrastructure are promising, challenges such as the digital divide and job displacement due to automation remain significant concerns. Xing Qu, deputy director-general for UNESCO, emphasized that building peace through education, science, and culture is vital in an era where AI increasingly influences societies and economies.
Business
Thailand to Finalise Free Trade Agreement with EFTA by January 2024
Thailand is preparing to finalise a landmark Free Trade Agreement (FTA) with the European Free Trade Association (EFTA) by January 2024. The agreement marks Thailand’s first FTA with a European trade bloc and is expected to bolster exports, attract investments, and enhance Thailand’s position in the global economy.
EFTA Partnership: A Milestone in Thailand’s Trade Strategy
Who Are EFTA Members?
The EFTA comprises Switzerland, Norway, Iceland, and Liechtenstein, offering Thailand access to lucrative European markets.
Commerce Minister Pichai Naripthaphan highlighted the FTA’s importance, describing it as a pivotal step for economic growth and trade expansion.
“This is Thailand’s inaugural FTA with a European bloc, setting a precedent for modern trade standards and sustainable development goals,” said Pichai.
Comprehensive Scope of the Agreement
What Does the FTA Cover?
The FTA includes 15 broad areas designed to modernise trade relations and foster sustainable development. Key areas include:
- Trade in Goods
- Rules of Origin
- Investment Opportunities
- Trade Facilitation
- Intellectual Property Rights
- Sustainability and SMEs Development
Future Expansion Opportunities
The FTA is seen as a stepping stone toward future trade agreements with other significant partners, including the European Union, advancing Thailand’s global trade ambitions.
Economic Impact of the Thailand-EFTA Trade Partnership
Surging Trade Figures
Between January and October 2023, trade between Thailand and the EFTA exceeded US$10 billion, accounting for 2.03% of Thailand’s global trade and reflecting a 23.22% year-on-year growth.
Key Thai Exports and Imports
- Exports to EFTA: Jewellery, watches, canned seafood, machinery, cosmetics, and rice.
- Imports from EFTA: Gems, gold, pharmaceuticals, scientific equipment, and fresh seafood.
The agreement is expected to further diversify and increase Thailand’s trade portfolio.
Next Steps: Approval and Implementation
High-Level Signing at WEF Davos
The FTA will be presented to the Thai Cabinet for approval before its official signing at the World Economic Forum (WEF) in Davos, Switzerland, in January 2024. Prime Minister Paetongtarn Shinawatra and Commerce Minister Pichai will attend the signing ceremony.
Ratification and Rollout
Following Parliamentary approval, the agreement will be ratified, paving the way for implementation and significant contributions to Thailand’s GDP growth.
A Strategic Vision for Thailand’s Future
The Thailand-EFTA Free Trade Agreement aligns with Prime Minister Paetongtarn Shinawatra’s vision of positioning Thailand as a global trade hub. By establishing this partnership, Thailand is set to achieve:
- Increased export opportunities
- Enhanced foreign investment
- Strengthened trade ties with Europe
As the January deadline approaches, Thailand’s first European trade agreement symbolizes a bold step toward economic transformation, underscoring its commitment to modernisation, sustainability, and global collaboration.
-
Business1 month ago
Thailand to Finalise Free Trade Agreement with EFTA by January 2024
-
News4 weeks ago
Thailand and Vietnam Rising to New Heights of Enduring Friendship
-
Visa & Immigration3 months ago
How to Register a Business in Thailand for Foreigners in 2024
-
Business1 month ago
Thai Airways Secures 44 Billion Baht to Propel Post-Rehabilitation Future
-
News1 month ago
M81 Motorway Opens Free for New Year Travel in Thailand
-
Business10 months ago
Economic advisory board confirms sluggish growth in 2023 and slowing economy coming into 2024. Since 2019, Thailand’s economy
-
News4 weeks ago
ASEAN Ministers to Discuss Myanmar Crisis at Meeting in Thailand
-
Liverpool2 months ago
England Interim Manager Carsley to Include Liverpool and Newcastle Stars Amid ‘Major Injury Crisis’ with ‘Six Doubts’