Banking
ICBC Submits Tender Offer for All Shares in Thailand’s ACL Bank
Industrial & Commercial Bank of China Ltd. submitted a tender offer to buy all shares in Thailand’s ACL Bank Pcl for 11.5 baht apiece, according to a statement from the Bangkok-based company to the stock exchange.
The tender offer period will run from March 9 to April 16, the statement said. ICBC received Thai government approval on Feb. 22 to buy a majority stake in ACL.
via ICBC Submits Tender Offer for All Shares in Thailand’s ACL Bank – BusinessWeek.
In a global first, Singapore and Thailand have linked their real-time payment systems, PayNow and PromptPay allowing international fund transfers between the two countries within minutes.
Asean
12 Things to Know about the ASEAN Catalytic Green Finance Facility (ACGF)
The ACGF is an ASEAN Infrastructure Fund initiative managed by ADB’s Southeast Asia Department Innovation Hub. It helps Southeast Asian governments prepare and finance infrastructure projects promoting environmental sustainability and contributing to climate change goals.
Southeast Asia faces an infrastructure investment shortfall of more than $100 billion a year, which may have worsened amid the COVID-19 pandemic.
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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