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Thai banks say exposure to Dubai small

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Thailand’s top lender, Bangkok Bank (BBL.BK), said on Tuesday it had lent $50 million through a syndicated loan to Dubai World Group Finance, a subsidiary of Dubai World Corporation. It said the loan represented just 0.10 percent of its total assets.

The bank had loan loss reserves of 63.7 billion baht, equivalent to 112.1 percent of its non-performing loans at the end of September, it told the stock exchange, saying this was “sufficient to cover any potential losses”.

The Bank of Thailand said on Monday that Thai firms had only $140 million in exposure to Dubai. [ID:nBKT003143]

Number three Siam Commercial Bank SCB.BK (SCB) told the stock exchange it had financially supported one hotel and one hotel-and-residence project in Thailand in which a subsidiary of Dubai World was a partner.

via Thai banks say exposure to Dubai small | Industries | Financial Services & Real Estate | Reuters.

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Giant Thai-Chinese wholesale hub opens in Bangkok’s Pratunam

The region’s largest wholesale hub features products from China at wholesale prices, and products from Thai manufacturers to export to China.

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Asset World Corporation (AWC) has launched the region’s largest wholesale hub in the Pratunam area of Bangkok, housed in the old Pantip Plaza tech mall.

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Thailand remains in pole position for the highest funds raised across Southeast Asia

Taking the top two spots on the region’s leaderboard this year are Thailand’s Central Retail Corporation Public Company Limited and SCG Packaging Public Company Limited with US$1.77 billion and US$ 1.27 billion funds raised respectively

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Thailand’s Central Retail Corporation Public Company Limited raised US$1.77 billion in 2020

THAILAND, 26 November 2020 — Capital markets across Southeast Asia stayed resilient in 2020 despite a host of uncertainties from the evolving global health crisis to the worsening US-China trade tensions and the impact of the US presidential elections.

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Thailand’s antitrust agency under scrutiny over $11 Billion Tesco Deal Approval

With the Tesco deal approved, CP Group will gain control over a network of about 2,000 hypermarket and grocery stores across Thailand, and the group already operates 7-Eleven convenience stores and the Siam Makro chain.

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Thailand’s largest conglomerate, Charoen Pokphand Group (CP) won on Friday the Thai antitrust agency’s approval  for acquisition of retail giant Tesco Lotus: the Office of Trade Competition Commission (OTCC) voted 4:3 in favour of the US$10-billion takeover deal.

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