00:00We have had the right people to tackle all those problems and we think Thailand is now in a steady state
00:11and we look forward to moving on with even a stronger cabinet and government.
00:24Thai Prime Minister Anutin Chan-Wirakul speaking after his pro-royalist party clinched a surprisingly solid election win on Sunday.
00:36Live to Bangkok now and Bloomberg Insight anchor Haslinda Armin joins us.
00:40Has, unpack the results for us and what this means for an era of political stability potentially in the country.
00:48Averill, what a night, what a win, what a surprise.
00:53With about 90% of the votes counted, Boomjang Thai party will likely secure about 191 seats out of the 500,
01:03which essentially is triple the number of seats it secured at the last election.
01:08Obviously, its messaging resonated with the voters.
01:12It campaigned on subsidies, on cash handouts, on investment in infrastructure, in tourism.
01:19It promised jobs in the rural areas.
01:21Now, these are bread and butter issues, issues which have plagued Thais for a very long time now.
01:27They have been squeezed by the high cost of living.
01:31What Boomjang Thai party didn't explain was how it would fund all the projects and all the spending that it intends to carry out.
01:39Still, a huge win from Boomjang Thai as well as its premier, the leader of the party, of course.
01:48We have Anutin, who's been a kingmaker.
01:52He's been essential to all the coalition partnerships we've seen in the country.
01:56He is close, not just to the military, but the royal family as well.
02:00And that, some say, would ensure that his party could stand the test of time, that he could potentially serve the full four-year term.
02:10As you may already know, that has been a rotating door here in Thailand.
02:15We've seen 10 prime ministers in the last 20 years.
02:18In fact, this election is the third in seven.
02:21Lots of questions on the longevity of the government that will be formed.
02:25And, of course, it will be a coalition government.
02:29Boomjang Thai will have to seek other parties, including the likes of Pui Thai, which is likely to be a partner to its coalition.
02:39To your point, will the idea of policy continuity sit well with markets then?
02:46Well, policy continuity is what the markets have been hoping for.
02:50It's a fractured economy.
02:52It is a fractured political environment.
02:54Continuity would bring some stability and perhaps bring back investors to the country.
03:00When you take a look at Thai stocks, they've been among the worst performers in the world.
03:04In fact, they were among the worst performers last year.
03:07Investors are waiting for clarity.
03:10And with the win, a strong win by the Boomjai Thai Party, investors may eventually come back to the country.
03:16Expectations are that the markets will do well from here.
03:20Stocks will see an upside.
03:22We potentially can see an upside for the currency as well, the Thai baht.
03:27And, in fact, when it comes to the yields here in Thailand, that could be at a neutral position.
03:33But what remains to be seen is the long-term plan for the country.
03:37In the short and medium-term, stimulus would do well.
03:40But it needs structural reforms, and the Boomjai Thai Party has failed to commit to those structural reforms,
03:47which are a long time coming.
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