KASIKORNTHAI Regulatory Capital and Financial Performance Update

K KASIKORNTHAI Long-term Policies of the New Government ■ Transport Infrastructure Development Plan: ➤ Investing in the country's transportation infrastructure, including roads, water, rail, and air, to expand Thailand's trade and opportunities ■ Eastern Economic Corridor (EEC): Area for facilitating and attracting investment in 12 innovative target industries, such as automation and robotics, to transform Thailand into Thailand 4.0 ■ Economy: ➤ Employing the principle of "Market-driven, innovation-supported, and income-enhancing" to support the agricultural sector's efficiency and productivity ■ BOI Measures for Supporting Private Investment: ➤ Promoting new economies such as the digital economy and advanced technology industries to enhance the country's competitive advantage ➤ Extending special economic zones and the economy in all four regions to decentralize economic activities to various provinces ■ Energy Policy: Reform petroleum concessions and energy price structures, including an LPG subsidy ■Tax Reform: Reform tax collection, generate sufficient revenue for the government, and boost competitiveness for local businesses, especially SMES ธนาคารกสิกรไทย 开泰银行 KASIKORNBANK ■ Promote Establishment of International Headquarters (IHQ) and an International Trading Center (ITC) in Thailand: Help Thailand become a key trading nation in the region ■ ASEAN Economic Community (AEC): Since December 2015, ASEAN has transformed into the "ASEAN Economic Community," with free movement of goods, services, investment, and skilled labour, and a freer flow of capital; Strategic measures under the five characteristics in the AEC Blueprint 2025 will be operationalized through sectoral work plans and implementation and monitored through the AEC 2025 Monitoring and Evaluation Framework ■Free Trade Area (FTA): 14 FTAs (18 countries) have signed with ASEAN+3 (China, Japan, and Korea), India, Australia, New Zealand, Peru, Chile and the Regional Comprehensive Economic Partnership (RCEP); In progress with European Union (27 countries), United Arab Emirates (UAE), Canada, Turkey, Sri Lanka, and in study with Comprehensive and Progressive Agreement of Trans-Pacific Partnership (CPTPP), Gulf Cooperation Council (GCC), African Continental Free Trade Agreement (AfCFTA) ■Aging Society: ➤ Monthly pension payments for the elderly ➤ Mandatory retirement age for government and state enterprise officials might be extended from 60 to 63, effective in 2024 ■Constitution: Thai government committee plans referendum on constitutional amendments Sources: Newspaper and KResearch (as of October 2023) บริการทุกระดับประทับใจ K KASIKORNTHAI Short-term Policies of the New Government ■Government Budget: ➤ Fiscal budget deficit in FY2024: Plan is for Bt693bn deficit to provide additional supports to stimulate Thai economic recovery ■Short-term Stimuli: ➤ Debt moratoriums for farmers and SMEs: (effective) - Farmers: debt suspension for 2.7 million farmers financed by the Bank for Agriculture and Agricultural Cooperatives (BAAC) starting October 1, 2023 (government support interest burden of Bt11bn annually) ➤ Debt relief for other groups, including teachers, police officers, and people: (planning) ➤ Raising daily minimum wage to Bt600 by 2027: (planning) - Expected to hike Bt400 from an average Bt337 in 2024 - To Bt600 by 2027 ➤ Increase salary for workers with a bachelor's degree to Bt25,000 (planning) ■ Short-term Stimuli (continued): ธนาคารกสิกรไทย 开泰银行 KASIKORN BANK ➤ Projects to boost domestic consumption: Bt10,000 digital wallet planned for 50 million Thais, worth Bt500bn or 2.9% of GDP: The government estimates that there are 50 million people eligible for the handout, who either earn less than Bt70,000 a month or have less than Bt500,000 in their savings accounts The government will propose Bt500bn loan bill to fund the project The project is expected to launch in 1H24 E-Refund: Thai people can get a maximum Bt50,000 tax deduction for spending on goods and services (expected to start in January 2024) > Projects to boost travel: Supporting traveling sector: Implement visa-free entry for foreign tourists Chinese and Kazakhstani tourists will be granted a temporary visa exemption for a 30-day stay (between September 25, 2023 - February 29, 2024) Russian tourists temporary stays extended from 30 to 90 days (between November 1, 2023 - April 30, 2024) Taiwanese and Indian tourists will be granted a temporary visa exemption for a 30-day stay (during November 10, 2023 - May 10, 2024) > Measures to help people with rising living costs: Commerce ministry asked manufacturers to reduce prices on 150,000 daily products (from October 2, 2023 to the end of 2023) Sources: Newspaper and KResearch (as of November 2023) บริการทุกระดับประทับใจ 137 138

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