Towards the brink: Thailand shows no sign of averting finance shakeout
Article Abstract:
Finance One of Thailand, a finance company, is to be taken over by Thai Danu Bank, the 12th largest bank, and it is likely that this is the beginning of changes in the country's finance sector. Finance Minister Amnuay Virawan's measures to help the struggling finance sector only went as far as calling on finance companies to increase their capital. Also it is difficult to set a central solution as many of the country's politicians have links with finance companies and it could be seen as a measure simply to rescue them.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Mirror man: Finance One head's fall reflects wector's woes
Article Abstract:
Finance One was Thailand's largest finance companies in the early 1990s but it has been affected by the economic situation in the country and been forced to merge with Thai Danu Bank. Company head Pin Chakkaphak, began building up Finance One from 1980 and made his first major acquisition, of Goldhill Securities, in 1986. This was followed by other deals, but it is thought that Pin misjudged the economic cycle with loan portfolios and massive bond investements reflecting his belief that interest rates would stay low.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Bad to worse: no end in sight for Thailand's financial crisis
Article Abstract:
Thailand will find it more and more difficult to attract overseas capital because of its financial crisis. Bankers are taking a dim view of the country's prospects and trading company Marubeni has announced that it is postponing 10 joint venture projects. However the Bank of Thailand has agreed to back all finance companies, but there are already signs of capital flight, according to economists.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Comment about this article or add new information about this topic:
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