Government approves car trade-in stimulus to boost ailing industry

The Centre for Economic Situation Administration (CESA) approved, on Wednesday, the old cars trade-in scheme of 100,000 cars in order to boost domestic car demand.

The project is part of the second economic stimulus measure passed by the subcommittee. The car scheme is set to revive the automotive industry from the economic downturn and support eco-friendly energy. 

Danucha Pichayanan, the secretary-general of the Office of  National Economic and Social Development Council (NESDC) said that other projects have been approved which will promote the medical equipment industry, employment, tourism, and overseas trade. 

The approval of the stimulus scheme has translated into positive sentiment for stocks in related industries during Thursday’s trading session.

“[The] new measures (tax savings) will benefit stocks such as EPG, STNALY, SAT, and AH.” said analysts at Krungsri Securities. 

As of 15.48 p.m. on Thursday, Somboon Advance Technology Plc (SAT)’s  share price increased sharply by 8.03 per cent to trade at 14.80 baht per share with a transaction value of 188.9 million baht.

While Eastern Polymer Group (EPG)’s share price rose up 2.54 per cent to 6.05 baht per share with a transaction value of 64.9 baht per share.

Stock Price Info

Stock Fundamental

Peer Comparison

Stock Price Chart

Advertisement -

COVID-19

Thai government says no local transmission from Myanmar case yet, 13 new quarantine cases

Thailand’s government said on Thursday that it had discovered 13 new cases of coronavirus in the last...
Advertisement -
Advertisement -

Latest article

Thaksin backs local politician in rare endorsement

In a rare move, former prime minister Thaksin Shinawatra, on Thursday, personally endorsed a local politician in the upcoming provincial elections.

Nakhon Sri Thammarat faces worst flood crisis in 30 years, death toll climbs to 7

Thailand’s southern province of Nakhon Sri Thammarat continues to face severe flooding with the death toll rising to seven on Thursday.

Thai government says no local transmission from Myanmar case yet, 13 new quarantine cases

Thailand’s government said on Thursday that it had discovered 13 new cases of coronavirus in the last 24 hours, including six illegal...

Thai Consumer confidence in November hits nine month peak, says UTCC

Thailand’s consumer confidence in November, which has increased in the past two months, is at a nine-month high of 52.4 points in...

Government warns protesters, opposition not to question constitutional court ruling

Coalition MPs and members of the government, on Thursday, warned opposition parties and pressure groups not to criticize the Constitutional Court’s verdict...

Thai exports to grow 4 per cent in 2021, says The Ministry of Commerce

The Ministry of Commerce said this week it expects Thai exports in 2021 to grow 4 per cent, rising from this year's...