Thailand’s digital assets industry has been booming in recent months. According to the country’s SEC, cryptocurrency trading accounts have rocketed from 160,000 at the end of 2020 to 470,000 by the start of February. In March, the Bank of Thailand (BOT) issued policy guidelines on how stablecoins are to be regulated, but these still leave many areas of ambiguity for lawyers and businesses in the market.
Thailand’s first data privacy law, the Personal Data Protection Act B.E. 2562 (2019) (“PDPA”) has been temporarily postponed until 31 May 2021. Assuming that there is no further postponement, the PDPA will become largely enforceable on 1 June 2021.
Thai Airways International's creditors have voted to approve the airline's restructuring plan, the flag carrier said on Wednesday, as it seeks to recover from financial problems suffered long before the coronavirus pandemic.
Weerawong C&P, Thailand’s second-largest firm, has expanded its international trade and WTO offering after merging with Apisith & Alliance, including its founder Apisith John Sutham.
Dentons plans to expand its network further in the ASEAN region this year by combining with a firm each in Thailand, Vietnam and the Philippines, according to recent comments made by Gerald Singham, the firm’s global vice-chair and ASEAN CEO.
Following the Cabinet’s approval on 14 January 2020, a new state enterprise, National Telecom Public Company Limited or “NT”, was formed on 7 January 2021 by a merger of CAT Telecom Public Company Limited (“CAT”) and TOT Public Company Limited (“TOT”). NT has assets worth over THB300 billion in value including over 25,000 telecommunication towers nationwide, spectrum usages, underwater cables, radio frequency, underground conduits, fiber optic cables, 13 data centres across the nation and international telecommunications infrastructure, with more than 17,000 employees.
Mayer Brown has closed its office in Bangkok, and the office partner-in-charge, Maythawee Sarathai, has joined Hunton Andrews Kurth as a partner.
Alliott Global Alliance, an international association of law and accounting firms, has increased its presence to 15 countries in the Asia-Pacific region, following the addition of law firm members in Bangladesh, Hong Kong and Thailand.
Thailand’s Chandler MHM has advised Phu Yen TTP Joint Stock Company (Phu Yen JSC) on a $186 million loan to develop and operate a 257MW solar power plant in Hoa Hoi, Phu Yen Province, Vietnam, with Clifford Chance representing the lenders.
Magic Circle firm Allen & Overy has advised Bangkok Bank, Bank of Ayudhya and Standard Chartered on the Kingdom of Thailand’s 30-billion-baht ($965 million) dual-tranche sustainability bond issuance.
With traditional ways of working turned upside down by the global coronavirus pandemic, and meetings largely being moved online, Thailand’s government has issued an emergency decree outlining electronic meeting regulations. While the response so far has been positive, there are a few areas where businesses are awaiting further clarity.