Lehman to up Thai holdings by $250m

BANGKOK (The Nation): US investment bank Lehman Brothers said it was committed to boosting its investment in Thailand by an additional US$250 million (Bt10.6 billion). The announcement followed a meeting on Tuesday between Lehman Brothers Inc chairman and CEO Richard S. Fuld, Jr, and Prime Minister Thaksin Shinawatra. It was the third meeting between the two in the last 18 months. “Prime Minister Shinawatra is totally focused and has the right combination of government and economic policies to ensure that Thailand achieves its rightful potential and attracts foreign capital,” said Fuld. “Reflecting Prime Minister Shinawatra’s strong focus, Lehman Brothers is committing up to an additional $250 million in Thailand. This enhances our already sizeable investment in the market, and we will encourage our clients to do the same,” he said.