KSS picks 5 stocks to benefit from state's 57.5-billion-baht stimulus via welfare card, Thai Chuay Thai Plus, disaster insurance

Kaohoon·24 Sep 2026·

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3▲5 ▼0Impact / 5

Macro Industry Specialty Retail

Summary · why it matters

Krungsri Securities Public Company Limited, or KSS, estimates that the government's new economic stimulus package, with a combined value of more than 50 billion baht, will add roughly 0.2% of GDP to Thailand's near-term economic momentum, and possibly 0.3% when including the money people contribute into the system. The Cabinet on 22 September 2026 approved raising the state welfare card purchase allowance by another 700 baht per person, from 300 baht to 1,000 baht per person in October 2026, and also approved the Thai Chuay Thai Plus (additional) project, which covers the welfare allowance increase and the extension of the Thai Chuay Thai Plus 60/40 project under a combined framework of 42 billion baht. The additional 60/40 project will run from 1 October to 30 November 2026, with the state co-paying 60% of the value of goods and services, capped at no more than 200 baht per person per day and no more than 1,000 baht per person over the whole project. Meanwhile, the disaster insurance project has been allocated a budget of 15.5 billion baht, split into 15 billion baht for group residential insurance premiums and 500 million baht for group accident insurance, covering floods, windstorms and earthquakes from 1 October 2026 to 1 October 2027. KSS named the beneficiary stocks as TNP, MTC, KTC, JMT and COM7, while not yet naming any insurance stock as its top pick from the disaster insurance theme, and said the insurance group is suitable for speculative monitoring until project details become clearer.

JMT Network Services Public Company Limited ▲

Krungthai Card PCL ▲

Muangthai Capital Public Company Limited ▲

Thanapiriya Public Company Limited ▲

Impact on assets 6

Financials▲ · 3 stocks

Krungthai Card PCL

▲ PositiveDemandrelevance

KSS names KTC as a beneficiary of the stimulus, which lifts consumer spending on its credit cards.

Muangthai Capital Public Company Limited

▲ PositiveDemandrelevance

KSS names MTC as a beneficiary of the stimulus, which supports consumer borrowing and spending.

Bank of Ayudhya PCL

Mentioned

Consumer Discretionary▲ · 1 stocks

▲ PositiveDemandrelevance

KSS names COM7 as a beneficiary of the government stimulus, which boosts consumer spending on goods it sells.

Industrials▲ · 1 stocks

JMT Network Services Public Company Limited

▲ PositiveDemandrelevance

KSS names JMT as a beneficiary of the stimulus package, which supports consumer purchasing power and its debt-related business.

Consumer Staples▲ · 1 stocks

Thanapiriya Public Company Limited

▲ PositiveDemandrelevance

KSS names TNP as a beneficiary of the stimulus, which boosts consumer spending at its stores.