Mr. Anutin Charnvirakul, Prime Minister and Minister of Interior of Thailand, praised the “Khon La Khrueng Plus” (Half-Half Plus) scheme after the second Economic Cabinet meeting, emphasizing its smooth and successful launch, with a large number of applications submitted by the public on the first registration day.
During the meeting, the government body provided input on planning electricity usage in the Eastern Economic Corridor to prevent future energy shortages and attract more foreign investment, as endorsed by the BOI (Board of Investment). Moreover, the Ministry of Energy was urged to reduce the cost of living for citizens.
Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, announced that yesterday (October 20) was the first registration day for the Half-Half Plus through the “Paotang” application. Although registration was scheduled to run from October 20 to 26, 2025, overwhelming demand caused all 20 million quotas to be filled on the first day.
Successful registrants can start spending from October 29 to December 31, but they must use their rights for the first time by 11:00 p.m. on November 11, or else the right will be revoked. However, Dr. Ekniti added that those disqualified may be able to re-register, and if demand remains high, the Ministry of Finance will reconsider expanding the program.
The system will notify applicants of the results within three days. Dr. Ekniti also stated that the Ministry of Finance applies Revenue Department criteria by reviewing tax filings for the most recent tax year (income year 2024, filed in early 2025). The applicant that pays their tax will receive a government contribution of THB 2,400, while the general public will receive only THB 2,000.
Mr. Siripong Angkasakulkiat, Government Spokesperson, stated that the government is preparing “Khon La Khrueng Plus Phase 2” for January 2026 using the central budget’s emergency reserves.
Daol Securities (Thailand) views the “Khon La Khrueng Plus” scheme positively. Beneficiary stocks include Krung Thai Bank PCL (SET: KTB) (BUY, target price THB 27.00), which benefits from the “Pao Tang” app usage.
Retail sector stocks include CP Axtra PCL (SET: CPAXT) (BUY, target price THB 25.00), Berli Jucker PCL (SET: BJC), the biggest beneficiary as it is a key destination for Khon La Khrueng Plus usage, and Thanapiriya PCL (mai: TNP), a local retailer with 51 branches in Northern Thailand that participated in previous rounds.
Food and beverage sector stocks gaining from increased domestic consumption include Carabao Group PCL (SET: CBG) (BUY, target price THB 62.00, domestic branded own revenue 32%), Osotspa PCL (SET: OSP) (BUY, target price THB 21.00, domestic beverage revenue 53%), Sappe PCL (SET: SAPPE) (HOLD, target price THB 36.50, domestic revenue 31%), Ichitan Group PCL (SET: ICHI) (domestic revenue 90%), and Srinanaporn Marketing PCL (SET: SNNP) (BUY, target price THB 12.50, domestic revenue 81%).
Consumer goods sector: Neo Corporate PCL (SET: NEO) (HOLD, target price THB 22.40, domestic revenue 90%), Osotspa PCL (SET: OSP) (BUY, target price THB 21.00, domestic revenue ~10%). Packaging sector: Eastern Polymer Group PCL (SET: EPG) (BUY, target price THB 4.20), which benefits from increased consumption and food delivery.
