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Map Ta Phut fiasco could impact economy more than the sub-prime crisis

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“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.”

Map Ta Phut industrial plant

The impact of the Map Ta Phut fiasco could be more severe to Thailand than the sub-prime crisis

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.

via Map Ta Phut fiasco could impact economy “severely” – Nationmultimedia.com.

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Environment

Climate Change Could Force 49 Million People to Migrate in East Asia and the Pacific

Out-migration hotspots in agricultural areas of central Thailand and Myanmar coincide with areas expected to see declines in both water availability and crop productivity

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The World Bank’s updated Groundswell report released today finds that climate change, an increasingly potent driver of migration, could force 216 million people across six world regions to move within their countries by 2050.

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Thailand BOI Approves Measures to Support Carbon Reduction

greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine development

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The Thailand Board of Investment (BOI) approved incentives to encourage companies to reduce greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine development, Ms Duangjai Asawachintachit, Secretary General of the BOI, announced today.

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