Companies
Thai Airways losses spiral to 11 billion baht
Thailand national airline has reported a further slump in profits for Q3 2019 with a net loss of 4.68 billion baht.
The national carrier Thai Airways International (THAI) reported a net loss of Bt4.68 billion, In the first nine months of 2019, THAI accumulated a loss of Bt11 billion.
This loss translates to Bt2.14 loss per share, which is Bt0.44 higher than last year or 25.9 per cent.
THAI president Sumeth Damrongchaitham said the national airline would post a loss of less than 3 billion baht in the last quarter of this year, which is the high season. Just a few days ago, he said he hoped the airline could reduce its full-year loss to 2.2 billion baht, from an expected 10 billion.
Business
Thailand Approves Latest Economic Relief Package for Businesses
Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.
On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.
The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.
Banking
Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses
Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.
The Thai cabinet has approved assistance worth 350 billion baht($11 Billion) to help businesses affected by COVID-19 with soft loans and asset warehousing.
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