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Banks continue threatened by bad loans

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Banks continue threatened by bad loans | The Thaiger

BANGKOK (AFP): Thailand’s embattled banking sector will slowly begin to recover in 2001, but a morass of non-performing loans will continue to dog the industry, Merrill Lynch said in a report released today. The outlook for the banking sector next year is cautiously positive, but recovery could be pushed off course by the mountain of bad loans, or if the US economy suffers a sharp decline, Merrill Lynch Phatra said. After losing money in 1999, Thai banks will push back into the black in 2000, the report said. Yet, “Since Thailand’s economic recovery remains fragile and narrow-based, a hard landing for the US economy could do serious damage to the asset quality of Thai banks.” Although non-performing loans (NPLs) have decreased from 47 percent of total loans in January 2000 to 38 percent today, the remaining debt burden will be extremely difficult to restructure, Merrill Lynch warned. Many of the remaining NPLs are in sectors such as property that were decimated by the Asian economic crisis and will probably take years to rebound. Some analysts have charged that Thai banks are now putting off restructuring the toughest NPLs by rescheduling the debt well into the future. “New and relapsing NPLs could wipe out banks’ operating profits and eat into their already thin capital,” Merrill Lynch warned. The NPL quagmire also has a major impact on the growth of new bank loans, which are crucial if Thai companies are to shrug off the financial crisis and begin expanding again. “Unfortunately, loan growth remains sluggish. Outstanding loans have contracted 5.4 percent in the year to date,” Merrill Lynch said. And because NPLs have made banks less attractive to share investors, the banking sector of the Stock Exchange of Thailand (SET) has fallen over 55 percent this year, depriving institutions of the capital they need to make loans. Thailand is holding national elections on January 6, tipped to be won by the Thai Rak Thai party. The party has indicated it will implement a debt moratorium if elected, a move that some analysts believe would only exacerbate Thailand’s culture of debt non-payment, thereby dealing further blows to the banking sector.



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Phuket

Phuket kratom-cooker robs pharmacies – VIDEO

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Phuket kratom-cooker robs pharmacies – VIDEO | The Thaiger

Phuket police yesterday have arrested a thief while he was cooking up a batch of kratom. He had earlier robbed pharmacies in Chalong, Phuket.

Chief Investigator of the Phuket Provincial Police Col Prawit Engchuan says, “Yesterday we have arrested 25 year old Rattaphon Pales at a house in Chalong. Police seized 0.45 litres of liquid kratom.”

“On Monday night Chalong Police were notified that a man had robbed a pharmacy in Chalong (video below) with a knife. He stole 30,000 baht cash and sped away on that occasion.”

“We have continued the investigation and arrested a suspect while he was cooking liquid kratom at his home.”

“He had robbed the same pharmacy last week and another pharmacy in Vichit. In total he has stolen about 50,000 baht in cash.”

“He was taken to Chalong Police Station where he was charged with illegal possession of Category 5 Drugs and theft.”

PHUKETPhuket police have arrested a thief while he was cooking kratom after robbing pharmacies in Phuket.

Posted by The Thaiger on Tuesday, March 19, 2019

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Phuket

French man and two others killed in Rawai motorbike accident, Phuket

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French man and two others killed in Rawai motorbike accident, Phuket | The Thaiger

Three people have died and another sustained serious injuries following the collision of two motorbikes in Rawai early yesterday morning (Tuesday).

The accident happened on Viset Road in front of a public health centre at 1.30am.

The Honda Wave motorbike driver was 37 years old Siripong Mulikkabut. He sustained serious injuries and was rushed to Vachira Hospital where he was later pronounced dead. He was not wearing a helmet. His passenger, 35 year old Warunee Hosakun, died at the scene.

The driver of a white Ducati model big bike was 48 year old French man Philippe Menduni. He died at the scene.

His passenger 44 years old Pannee Pongkan sustained serious injuries was taken to Vachira Hospital. Witnesses at the scene say she was five months pregnant.

Police say the Honda motorbike driver was heading towards Chalong Circle. When he arrived at the scene, the Ducati Bigbike came from behind and collided into the back of the Honda motorbike.

Police are continuing their investigation. Police also report that none of the riders were wearing helmets.

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Phuket

Phuket Town Beauty spa shooter kills himself in Saphan Hin

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Phuket Town Beauty spa shooter kills himself in Saphan Hin | The Thaiger

UPDATE: The suspect in this morning’s shootings, 53 year old Chana Rodket from Songkhla, has shot and killed himself in Saphan His this afternoon. He was a housekeeper a the beauty spa where the shooting took place.

Earlier, a South Korean man and Thai woman were injured in a shooting at a beauty spa near Naka Market in Phuket Town.

The two sustained serious injuries from bullet wounds. Wichit Police reports that they was notified of the incident at ‘The Beauty Spa’ at 10.30am.

Police and emergency responders arrived at the scene to find two injuried from gun shots. Blood-stained towels were found around the scene of the shooting.

The two people shot were 74 year old South Korean man, Kwang Hee Kim (father of Ms Eun Mi Kim, the owner of the Beauty Spa) and a 56 year old Thai woman named as Somsri Chuatonghua, a staff member at the spa.

Both taken to Vachira Phuket Hospital.

Phuket Town Beauty spa shooter kills himself in Saphan Hin | News by The Thaiger

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