Foreign capital arrives for Thai bank
Article Abstract:
Laem Thong Bank Ltd has received an influx of much needed foreign capital in the form of equities being bought by Sofaer Capital Inc, Sheikh Ahmad Al-Sabah Group and United Communications Group. The equities sold to the three entities total 50% of Laem Thong Bank's shares and marks the first time foreign companies are allowed more than 25% share in a Thai company. The acquisition is predicted to pioneer the influx of foreign capital into the Thai financial services industry.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Banking bulls resurface
Article Abstract:
Thai analysts are starting to shift their focus on banks' long-term earnings potential from the previous criteria of high-quality assets in choosing where to invest. Asia Equity and SBC Warburg believe that the current time is best for buying bank shares. Although non-performing bank loans are expected to increase further to 12% of total bank loans in 1997, losses can be regained with the expected Thai banks' operating profits starting in 1999, pegged at 120 bil Thai baht.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Two Thai firms may buy a standard chartered unit
Article Abstract:
Thai Military Bank PCL and Nava Finance and Securities PCL negotiating with Standard Chartered PLC to acquire Standard Chartered Ltd. Although the details of the planned acquisition remain unclear, analysts expect Standard Chartered PLC to receive a sizeable share of the divested company. Standard Securities has been trying to sell-off its financially-stricken Thai unit since 1994.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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