Friday’s news-Oct 18 -

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Hua Hin upgrading road infrastructure/Rescue P.A.W.S. Seeks funds/Condominium projects for Khao Tao/Hua Hin residents file fraud charges/Police Seize property from iCon Group/iCon Fraud Unveiled/iCON scandal points to deeper problems/iCon Group programmer transferred billions/Court denies bail for 17 iCon executives/Expats urged not to worry/Lid on fuel, power prices/Monsoon rains to hit 42 provinces/Habits that are secretly aging you/CNG Buses Fail Safety Checks/Gold climbs to record/Foreigners behaving badly/Economy: Opposition wants military to stop doing business/Commerce minister, US envoy talk investment/Impact of the US Election on Southeast Asia/Auto parts makers eye new markets/Moo Deng Sparks Business Growth/Expanding in food ingredients markets/Creating a ‘Goldilocks’ business climate/Tourism: Thailand’s domestic tourism revenue/Chiang Mai flood cleanup/Marine national parks reopen/Thai Women Arrested for Scamming Tourists/EVA Air recognized/Thailand Experience: Naga fireballs light up Mekong River/Beauties at Khao Kheow Zoo/Climate Thailand: Investing in Climate and Nature for Resilience/Companies shift to circular packaging/International/Links: Calendar of events/Airport schedule/Bangkok airport bus schedule/Hua Hin-Pattaya bus schedule/Air pollution index map/90-day online report/driver’s license/Market Village and Bluport cinemas/Emergency numbers

Police Seize 220M Baht in Luxury Cars, Gold, and More from ‘The iCon’ Group

Police seized 23 luxury cars valued at 220 million baht from the network associated with the “Big Boss of The Icon.” The most significant seizure belonged to Boss Paul, totaling 61 million baht. Thai authorities believe there are more assets to uncover as the investigation continues, with suspects allegedly converting cash into digital currency to avoid detection.

Yesterday, police raided The Icon Group’s network, seizing assets from 18 suspects believed to have been obtained through illicit activities. Confiscated items included 23 luxury cars, 121 branded items, 39 electronic devices, and other valuables, totaling approximately 219.7 million baht. Continued …

iCon Fraud Unveiled: Lessons in Greed and Hard Truths

The iCon Group scandal has drawn a massive spotlight, largely due to the involvement of several high-profile celebrities. Beneath the surface, however, lies a tale of hope, greed, and hard truths affecting everyday investors. This scandal has underscored some valuable lessons that many have learned in the wake of this financial debacle.

Foremost, the adage “There’s no such thing as a free lunch” rings true. Fast riches rarely come without cost, as victims of the iCon scheme discovered. They were seduced into investing large sums, chasing the dream of financial freedom, but were met instead with financial despair. This saga starkly illustrates that get-rich-quick schemes are seldom what they seem. Continued …

iCON Group scandal points to deeper problems in various Thai sectors

The allegations against The iCON Group, a direct-selling business led by “Boss Paul” Waratphol Waratvorakul, reveal increasingly deep connections to various sectors. It starts with the entertainment industry, where celebrities were used as “puppets”, either willingly or through deception, to enhance the credibility of The iCON Group and lure victims into believing in the business.

The situation then extends to the political sphere, with an audio clip surfacing of a politician asking for bribes and promising the support of “divine forces” (big-name politicians) to protect the group. Simultaneously, questions have been raised about the “civil servants and government agencies” involved, corruption and abuse of power to benefit risky business operations. Continued …

iCon Group programmer ‘transferred billions of baht before arrest’

After a court ordered the detention of 18 The iCon Group executives yesterday (Oct. 17) with 17 of them taken straight to prison, while the big boss, Woratphon Waratvorakul, or Boss Paul, was still being questioned by police, it was alleged that more than US247 million, or over 8 billion baht, was transferred out the country by the company’s programmer just an hour before he was rounded up.

Ekkapop Luengprasert, an adviser to the Interior minister said that, “An unusual money trail – over US$247,911,936, worth more than 8,223 million baht, was transferred out just an hour before ‘Coach Lab’ of The iCon was arrested.” Continued …

Court denies bail for 17 iCon executives

Seventeen executives and core members of the iCon Group were ordered detained last night, after the Criminal Court rejected the bail applications for three of them on the grounds that they may try to interfere with evidence or flee, and because their alleged offenses are serious and have widespread impacts.

The male suspects were sent to Bangkok Remand Prison, while the females were sent to the Central Women’s Correctional Institution for a further 12 days, pending more questioning by police from the Central Investigation Bureau (CIB). Continued …

Expats in Thailand urged not to worry about negative income tax

Recent discussions around a possible negative income tax (NIT) system in Thailand have caused ripples of concern among expatriate communities. However, it’s essential to understand that these developments are still in the discussion phase, and any legislative changes are not imminent.

Deputy Finance Minister Julapun Amornvivat, a supporter of NIT, has indicated that formal implementation might be several years away. At present, there is no concrete framework or schedule for its introduction, warranting a cautious approach rather than alarm. Continued …

Minister vows to keep lid on fuel and power prices

Energy Minister Pirapan Salirathavibhaga insists that the government will continue to cap domestic energy prices, notably diesel and electricity, to help consumers and businesses deal with the economic slowdown.

His comment at the 2024 Energy Symposium yesterday came as conflicts in the Middle East showed no sign of abating, with Israel striking southern Lebanon, targeting the Hezbollah militant group. Continued …

Heavy monsoon rains to hit 42 Thai provinces, including Bangkok

Heavy monsoon rains are expected to lash 42 provinces across Thailand, including Bangkok, with 70% of the area predicted to experience significant rainfall. The Thai Meteorological Department (TMD) issued warnings for flash floods and forest runoffs.

Southern Region (East Coast): Thunderstorms in 60% of the area, with heavy rain in Phetchaburi, Prachuap Khiri Khan, Chumphon, Surat Thani, Nakhon Si Thammarat, Phatthalung, Songkhla, Pattani, Yala, and Narathiwat. Temperatures will range from 24 to 26°C minimum to 32 to 34°C maximum, with variable winds at 10 to 30 kilometers per hour. Continued …

10 everyday habits that are secretly aging you

We all want to stay youthful, but some of our daily habits could be speeding up the aging process without us even realizing it. Here are 10 common lifestyle choices that might be affecting your health and appearance, and simple steps you can take to prevent it.

Skipping sunscreen: Even on cloudy days, UV rays can damage your skin, leading to wrinkles and age spots over time. According to the Skin Cancer Foundation, up to 80% of the sun’s UV rays can penetrate your skin, even on overcast days. Make sunscreen part of your routine to avoid premature skin aging. (Readers should be aware that many sunscreens damage the environment and should choose environmentally safe sunscreen products.) Continued …

5% of CNG Buses Fail Safety Checks After Fatal Fire

In the wake of a tragic school tour bus fire, the Department of Land Transport has revealed concerning initial findings from nationwide inspections of compressed natural gas (CNG)-powered buses across Thailand. So far, 5% of these inspected buses have been identified as defective.

This initiative began following a devastating incident on Oct. 1 in Pathum Thani, where a tour bus carrying students and teachers from Wat Phao Praya Sangkharam School caught fire, resulting in the loss of 20 students and three teachers. The bus involved was 54 years old, and its CNG conversion was found to be non-compliant with existing safety regulations. Continued …

Gold climbs to record as Mideast tensions spark haven demand

Gold reached a record high as escalating Middle East conflicts saw investors flock to safety, even as mixed data on the U.S. economy dashed hopes for large rate cuts by the Federal Reserve this year.

Bullion rose as much as 0.2% to $2,698.50, topping Thursday’s all-time high by about a dollar, as markets reacted to Israel’s killing of Hamas leader Yahya Sinwar — the architect of the Oct. 7 attack that’s triggered the year-long war in Gaza. Continued …

Uzbek trafficking suspect arrested in Pattaya – Continued …
Iranian Pair Caught in the Act Stealing Money From Saudi Tourist – Continued …
Jordanian Man Arrested in Pattaya for Overstaying Visa by 490 Days – Continued …

Opposition wants military to stop doing business and focus on security

The opposition is demanding a drastic reform of the businesses run by the military, pressing for insolvency, privatization, restructuring, and transfer to other agencies so that the national armed forces could stay focused on their main mission — security of the country.

The military claims it holds many national assets and properties to generate income for their needs that are not met by national budgetary allocations. It has maintained that these activities are for the sake of national security and the welfare of junior officials in the armed forces. Continued …

Thai Commerce minister, US envoy talk tariffs, investment

Commerce Minister Pichai Naripthaphan and the U.S. ambassador held a discussion on trade tariffs and investment in high-tech industries, seeking strategic common ground.

Following a meeting with U.S. Ambassador Robert Godec on Wednesday, Pichai said the talks provided a valuable opportunity to forge a strategic partnership and strengthen economic ties, promoting bilateral and investment relations between the two countries. Continued …

The Impact of the 2024 US Presidential Election on Southeast Asia’s Markets

The 2024 U.S. presidential election will significantly impact Southeast Asia markets, influencing trade policies, geopolitical strategies, and investment trends, with crucial implications for regional economies deeply tied to U.S.-China relations.

Southeast Asia, noted for its rapid economic growth, is significantly impacted by U.S. economic and foreign policy changes. The 2024 U.S. presidential election, involving either a continuation with Democratic President Kamala Harris or a shift to Republican President Donald Trump, could greatly affect the region’s economies. Key economic factors include trade, foreign direct investment (FDI), and security. Continued …

As EVs gain popularity, auto parts makers eye new markets

Thai auto parts manufacturers for internal combustion engine (ICE)-powered vehicles may need to look for new markets overseas as the popularity of electric vehicles (EVs) threatens to disrupt their business, says Tru Automotive Co., a supplier of auto parts under the TRW brand.

Sales of auto parts for ICE cars are projected to keep falling because they are not used by EV makers, said Pornsak Ariyapongpairoj, managing director of Tru Automotive. Continued …

Moo Deng Phenomenon Sparks Business Growth, Logo Selected

The “Moo Deng the Pygmy hippo” phenomenon has not only attracted visitors from all over Thailand and abroad to Khao Kheow Open Zoo but has also created business opportunities for the Zoological Park Organization of Thailand. Recently, a logo was chosen to be registered as a trademark.

Yesterday, the Zoological Park Organization announced the results of the logo design contest for Moo Deng, the famous pygmy hippo star of Khao Kheow Open Zoo. The contest was open for public voting, and logo No. 5 received the highest number of votes, with over 57,000 votes out of more than 100,000 total votes. Continued …

How Thai businesses can expand presence in food ingredients markets

Thailand’s Office of International Trade Promotion in New York has identified five key global trends in food ingredients, providing valuable insights for Thai businesses seeking to expand their markets.

Despite the challenges of 2023, sales of cooking ingredients increased slightly due to inflation and higher commodity prices. However, consumers have become more cautious about spending and are seeking cost-effective options, including ready-to-eat meals and private label products. Continued …

Creating a ‘Goldilocks’ business climate for all

Whenever the odds seem stacked against human progress – when economic growth looks set to remain feeble, when too many countries appear destined to grow old before they become rich, when climate change seems out of control – it is worth remembering the distinctive virtue of our species. Human ingenuity is the reason why predictions of global doom, which have proliferated throughout our history, have never materialized.

It was ingenuity that defused the so-called “population bomb”, the 1970s threat that “hundreds of millions of people” would starve to death as rapid population growth exhausted finite supplies of food. Instead, agricultural innovations such as high-yield, pest-resistant crops caused global food production to grow faster than the population in nearly every part of the world. Continued …

Thailand’s domestic tourism revenue to hit 970 billion baht

Festive events and new stimulus campaigns are set to boost domestic tourism revenue in Thailand to between 950 billion and 970 billion baht (US$28.6 and US$29 billion) this year, according to the Tourism Authority of Thailand (TAT). Despite these efforts, the target of 1 trillion baht (US$30 billion) will likely be missed due to a sluggish economy and the impact of flooding.

Nithee Seeprae, TAT deputy governor of marketing communications, stated that the agency is driving promotions to generate at least 200 billion baht (US$6 billion) in revenue from 30 million domestic trips during the final three months of the year. Continued …

Chiang Mai flood cleanup to take another week

Chiang Mai is still battling to clear a huge pile of garbage almost two weeks after the biggest flood in decades crippled several areas in the northern city.

Workers from the Chiang Mai Provincial Administration Organization (PAO) and the municipality are able to get rid of 400 tons of debris and other garbage every day by transporting it to a dump site in Hod district. Continued …

Three famous marine national parks reopen to tourists after 6 months

Three Thai Marine National Parks in the Andaman Sea have reopened their doors to visitors from around the world after being closed for over six months to allow environmental restoration.

The Department of National Parks, Wildlife and Plant Conservation said the parks would be open from Oct. 15 to May 15 each year. The Similan National Park, Surin Islands National Park, and Laem Son National Park offer stunning turquoise waters, pristine beaches, and diverse marine life. Continued …

Two Thai Women Arrested for Scamming Tourists with Fake Resort Bookings in Pattaya

Two Thai women were arrested for creating fake Facebook pages to scam tourists out of deposits for luxury resort bookings in Pattaya. The suspects were arrested by Tourist Police at their residences in Chonburi and Samut Prakan provinces. Both face charges of “fraud by entering false information into a computer system”.

According to police, the suspects created fake Facebook pages for a high-end resort on Koh Larn, Pattaya, to scam tourists into paying deposits for room bookings. Once the victims transferred the money, the suspects blocked them on Facebook and looked for new targets. Continued …

EVA Air recognized with Condé Nast Traveler’s 2024 Reader’s Choice Award

Condé Nast Traveler announced the results of its annual Readers’ Choice Awards, and EVA Air has secured a top 10 spot. The airline was voted number 9 by U.S. readers in the Best International Airlines category.

These awards are among the longest-running and most prestigious in the travel industry, recognizing excellence globally. This recognition highlights EVA Air’s dedication to delivering a first-class experience in the skies, comfort, and safety. Continued …

Naga fireballs light up Mekong River in Nong Khai spectacle

Fireballs over the Mekong River thrilled spectators yesterday, as the first pair of Naga fireballs lit up the sky in Nong Khai province. The much-anticipated phenomenon drew crowds to Ban Tan Chum in the Rattanawapi district.

Visitors gathered in large numbers at Ban Tan Chum, eagerly awaiting the arrival of the Naga fireballs, and were not disappointed. The first sighting of two consecutive fireballs was met with cheers and excitement. The crowd remained hopeful for more sightings throughout the evening. Continued …

Beauties meet another beauty at Khao Kheow Zoo

Beauty pageant contestants from 70 countries greeted adorable baby hippo Moo Deng at Khao Kheow Zoo on Wednesday as a part of the Miss Grand International (MGI) 2024’s activities in Pattaya City of Chonburi province.

The young ladies showed up in white T-shirts with the competition’s logo spread over the chest, a sash identifying their nationality, and trousers printed with Thailand’s soft powers. Continued …

How is Thailand Investing in Climate and Nature for Resilience?

Recently, the private sector has raised $45 billion annually to support climate initiatives, while 73 public and partially public climate funds are now in place. However, with the world off-track in achieving the sustainable development goals (SDGs) by 2030, these efforts remain insufficient. The World Bank has called for a leap from billions to trillions of dollars in investment to truly make a difference.

The Asia-Pacific region, including Thailand, is no exception to this challenge. In fact, no SDG is on track to be achieved by 2030 in the region. At its current pace, the goals won’t be met until 2062 — 32 years behind schedule. Continued …

Thailand’s food and beverage companies to shift to circular packaging

Thailand’s food and beverage (F&B) industry is undergoing a significant shift toward sustainability, as regulatory pressures and consumer demands for eco-friendly packaging continue to rise. With sustainability increasingly at the forefront of business strategies, industry leaders like Tetra Pak Thailand are taking significant steps to drive the adoption of circular packaging solutions.

Underlining the trend, 90% of respondents in a recent survey stated that they choose sustainable feature as essential/nice to have when deciding to make a purchase, says GlobalData, a leading data and analytics company. Continued …

US sanctions Chinese firms over drones used by Russia against Ukraine

The United States is sanctioning two Chinese companies it says are cooperating with Russian entities to design, build and ship long-range attack drones, in the latest round of punitive action against firms supporting Russia’s war against Ukraine. Continued …

China’s economy grows 4.6% in Q3, keeping stimulus calls alive

China’s economy grew slightly quicker than expected in the third quarter, but a prolonged property downturn and weak consumption remain a drag on activity, maintaining pressure on policymakers as they consider more stimulus steps to revitalize growth. Continued …

Vietnam estimates China rail link will cost $7.2 billion

Vietnam has estimated the cost of building a new railway linking it with China’s Yunnan province at 179 trillion dong ($7.2 billion), state media reported on Wednesday. The 427-kilometer railway would run from the border province of Lao Cai through the capital Hanoi and port city of Haiphong to Ha Long City. Continued …