Standard Chartered expands: deal for Nakornthon Bank lifts Asian presence
Article Abstract:
UK-based Standard Chartered Bank PLC has consented to purchase Thailand's Nakornthon Bank, the second Southeast Asian bank it has acquired in a week. Observers see the deal as an important move in hastening the recapitalization of the debt-laden banking system of Thailand. Under the plan, Standard Chartered will provide 6.2 billion baht for an initial 68.4% share in Nakornthon Bank after existing stockholders agree to a write-down of their shares from 10 baht to 0.01 baht.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
TPI founder is ousted
Article Abstract:
Thai Petrochemical Industry PCL founder and former CEO Prachai Leophairatana has been fired by Effective Planners Ltd., the debt restructuring firm reworking the company's finances. He declared the firing illegal but did not say if he will take action against it.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Local heroes venture forth. Barbarians return to Europe
- Abstracts: Government plans to liberalize the legal industry. Investment banks in Asia detect signs of a rebound
- Abstracts: UK: Hedge funds underperform. UK: AMP trims product range
- Abstracts: ICI's pretax profit beats expectations. Chemical companies in Europe unveil mixed profit news. DSM posts results for 2000 in line with expectations
- Abstracts: Pet food is doctored up. In a shift, marketers beef up ad spending inside stores. Panel faults food packaging for kid obesity