“The impact of the Map Ta Phut fiasco could be more severe to Thailand than the sub-prime crisis,” senior executive vice president Arthid Nanthawithaya said in an interview. These were the thoughts last week of some of the top executives at Siam Commercial Bank (SCB).
“Despite a limited impact from the loans extended to the companies involved, a huge weight hangs in potential investors' minds. If this fiasco is not ended peacefully, the investment climate will be affected severely.”
SCB has extended credit lines of Bt50 billion to the 76 industrial projects in question. The main borrowers are PTT, the Siam Cement Group and their subsidiaries. All Thai banks' combined credit line to the projects is estimated at Bt170 billion.
Southeast Asia remains a hot spot for plastic pollution
The use of plastics is deeply embedded in our daily lives, in everything from grocery bags and cutlery to water bottles and sandwich wrap. But the quest for convenience has gone too far and we are failing to use plastics efficiently, wasting valuable resources and harming the environment.
Southeast Asia has emerged as a hot spot for plastic pollution because of rapid urbanization and a rising middle class , whose consumption of plastic products and packaging is growing due to their convenience and versatility.
Diamonds are forever but “James Bond Island” in Phang Nga Bay may not
Thailand’s Department of Mineral Resources will assess the stability of the limestone karst towers, which make up the chain of islands, after several similar rock formations, in both the Gulf of Thailand and the Andaman Sea, have collapsed.
Climate Change: how Asia-Pacific will affect the whole planet
Pursuing a green recovery in the aftermath of COVID-19 might sound daunting, but it’s actually a great opportunity to direct recovery spending into stimulating sustainable jobs and growth and fight climate change.
Forget the poetic flap of a butterfly’s wings in Beijing causing rain in Central Park. Climate change issues in Asia-Pacific are measured in superlatives. The world’s biggest population. Two of the three largest carbon dioxide-emitting countries and the largest share of emissions globally.
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