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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.

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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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Daniel Lorenzzo

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Following the real-world experiment with remote working, it’s time for business leaders to re-examine their previous misgivings, and explore how to adopt flexible working in the long term

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Fitch Ratings Expects Improvement of Thai Corporates’ Credit Outlook

Fitch said the outlook for the food retail sector in 2021 would remain stable as earnings rebound, while the outlook for the building material and power & utilities sectors to be stable in the coming years.

National News Bureau of Thailand

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BANGKOK (NNT) – The credit rating agency Fitch Ratings expects Thai corporates’ credit outlook to improve this year as vaccination is rolled out and economic activity recovers.

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