Phillip Securities wrote that the Election Commission of Thailand (ECT) has resolved to submit to the Supreme Court the cases concerning 77 senators involved in the 2024 Senate appointments. Among these, 26 were serving in the Senate at the time the complaints were filed, according to the ECT’s official statement released on September 14, 2026.
The brokerage commented that this development is not expected to disrupt legislative processes or government administration as the remaining number of senators still exceeds one-third of the total Senate membership, which ensures the continued capability to deliberate and approve legislation—one of the Senate’s fundamental roles.
Additionally, Phillip emphasized that the fiscal year 2027 budget bill has already passed the Senate, significantly reducing the risk of budgetary delays. As a result, this outcome supports expectations for timely government disbursement and continued infrastructure investment.
Furthermore, the easing of political overhang is seen as a positive factor that should boost confidence in government projects and measures beyond the fiscal year 2027 budget. This includes initiatives such as the Thai Travel Plus program, the TISA project, the Power Development Plan 2026 (PDP 2026), and upgrades in clean energy infrastructure under the 400-billion-baht emergency loan decree.
Phillip Securities highlighted several sectors and stocks expected to benefit from these ongoing developments:
- Consumption and Tourism: AOT, BJC, CENTEL, CPALL, CPAXT, EWR, KTC
- TISA Project: ADVANC, AP, BBL, KBANK, KKP, KTB, SC, SCB, SIRI, SPALI, TISCO, TTB
- Investment and Utilities: AMATA, CK, GULF, GUNKUL, SCC, STECON, WHA, WHAUP
