Collectius, a restructuring partner for financial institutions in Asia, has acquired Magnate Group Plus Co, one of Thailand’s top five debt servicing companies. Collectius has been licensed by the Bank of Thailand since 2016. It has purchased a total of US$369 million (12.2 billion baht) worth of unsecured consumer non-performing loans (NPLs). Regarding the debt […]
Read MoreSINGAPORE’S services industries saw business receipts grow 16.6 per cent year on year in the second quarter, with the index recovering to pre-pandemic levels, according to Department of Statistics (Singstat) figures on Friday. On a quarter-to-quarter non-seasonally adjusted basis, business receipts were up 1.9 per cent. Singstat noted that the double-digit year-on-year growth was partly […]
Read MoreSome people who have not earned enough money because of Covid-19 and have had to borrow money have fallen into traps set by usurers. Hoang Van Thanh in Cau Giay district in Hanoi, for example, said he received a call from a strange number one day. The caller introduced himself as the representative of a […]
Read MoreMANILA, Philippines — The Philippine economy will have to wait until late next year to see a return to its pre-crisis levels as the pandemic continues to put a drag on the country’s much-needed rebound. During deliberations in Congress for the P5.024-trillion national budget for 2022, National Economic and Development Authority (NEDA) chief and Socioeconomic […]
Read MoreBANGKOK (BLOOMBERG) – Thailand will relax some of its quasi-lockdown restrictions on Wednesday (Sept 1) to allow more travel, and shopping malls and restaurants to reopen after its worst wave of Covid-19 infections showed some signs of easing. The country’s top virus task force approved a plan on Friday designed to gradually boost an economy that has […]
Read MoreThirty Cambodian garment factories have signed up for the EU-funded Switch Garment auditing process, with 20 more slated to join the initiative by the end of the year. The initiative is meant to reduce carbon greenhouse emissions. The Global Green Growth Institute estimates that improved energy practices in Cambodia’s garment production could reduce greenhouse gasses […]
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Thailand
