Kasikorn Securities said in an analysis that the Cabinet's approval to extend the Thai Help Thai Plus program by another two months through November 2026, using roughly 43 billion baht remaining from the original program, could boost Thailand's economic growth prospects in 2026 through consumption, with gross domestic product possibly expanding about 2.2-2.3% versus the previous estimate of 2.0%. It therefore holds a mildly positive view on the Thai economy this year. On investment, Kasikorn Securities has a neutral to slightly negative view on retail stocks, since it had previously expected same-store sales to return to growth of about 3-4% after the original program ended in September 2026, but the two-month extension could pose a slight downside risk to same-store sales forecasts because those stores cannot join the program. Kasikorn Securities continues to favor Central Retail Corporation, or CRC, and Moshi Moshi Retail Corporation, or MOSHI, as they are expected to be only limitedly affected by the extension, along with fourth-quarter earnings momentum heading into the high season. The Thai Help Thai Plus (60/40) program is scheduled to run from October 1 to November 30, 2026, with the government co-paying 60% and the public paying 40%, with the government contributing no more than 200 baht per person per day and no more than 1,000 baht per person over the entire program.
Central Retail Corporation Public Company LimitedKasikorn Securities favors CRC, expecting it to be only limitedly affected by the Thai Help Thai Plus extension and to benefit from fourth-quarter earnings momentum into the high season.
Moshi Moshi Retail Corp. PCLKasikorn Securities favors MOSHI, expecting it to be only limitedly affected by the Thai Help Thai Plus extension and to benefit from fourth-quarter earnings momentum into the high season.
