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Thailand: Household debt risks boiling over

The country’s household bad debt is expected to reach 1 trillion baht this year, putting the ratio to total loans outstanding into double digits as debt-servicing ability erodes amid coronavirus-induced income shocks, says the head of the National Credit Bureau (NCB). Non-performing loans (NPLs) are surging in the second quarter, in line with projections that […]

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Philippines: Peso seen to breach 52:$1 mark

MANILA, Philippines — Dutch financial giant ING sees the peso breaching the 52 to $1 level this year with the 6.9 percent drop in remittances from overseas Filipino workers (OFWs) due to the coronavirus disease 2019 or COVID-19 pandemic. Nicholas Mapa, senior economist at ING Bank Manila, said in the bank’s latest global markets research […]

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Bangkok Bank acquires majority stake in Bank Permata for $2.3b

Bangkok Bank has acquired an 89.12 percent stake in privately owned Bank Permata from diversified conglomerate PT Astra International and British lender Standard Chartered Bank (SCB). The Thailand-based bank completed on Wednesday the transaction for Rp 33.66 trillion (US$2.3 billion), equal to 1.63 times Bank Permata’s book value, as agreed by the sellers and buyers […]

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Vietnam should embrace M&A waves: Expert

The Hanoitimes – Not only M&A is an effective investment channel, foreign investors’ decision to shift from new investment to M&A shows the development of the domestic economy, said an expert. Mergers and acquisitions (M&A) activities are positive trends that Vietnam should embrace, especially as Vietnam is looking to attract investment capital shifted from China or […]

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Thailand: Solid April brightens export view

A key trade group sees a potentially healthier export picture after shipments rose for a second straight month in April, driven by farm products and gold. Ghanyapad Tantipipatpong, chairwoman of the Thai National Shippers’ Council, said the April surprise signals that full-year exports could shrink by less than the TNSC’s current forecast. She cited Thailand’s […]

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