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Phuket

Report casts gloom on Thai banks

Legacy Phuket Gazette

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Report casts gloom on Thai banks | The Thaiger

BANGKOK, June 23 (AFP) – Thailand’s banking sector plunged into fresh gloom Wednesday as US ratings agency Moody’s Investors Service said the crisis-hit industry remained “deeply impaired.” The judgment came at a time when many investors had been expecting ratings upgrades from foreign agencies for debt-laden Thai banks which have been struggling to recapitalise. In a report received here Wednesday, Moody’s said the banking sector remained in deep crisis and warned that all banks remain “heavily insolvent in true economic terms.” “Although the largest banks in the capital starved system have been able to move closer to satisfying current regulatory requirements for loan loss provisioning, the mid-sized and smaller banks remain well behind. Additionally, government assistance and/or regulatory action, including intervention, vis-à-vis these deeply impaired banks can be complicated by political considerations,” it said. Consequently, Moody’s believed that the prospects for these banks, as well as for those that have already been intervened in by the government, still remain uncertain. “The outlook for their ratings continues, therefore, to be negative.” Moody’s said debt in “less impaired” banks, including Bangkok Bank, Krung Thai Bank, Thai Farmers Bank, Siam Commercial Bank, and Industrial Finance Corporation of Thailand, was stable in the Ba3/B2 range. Moody’s said it expects that Bank of Asia’s subordinated debt, which is rated Ba2, will benefit from support by its new parent, ABN AMRO Bank NV. Weaker commercial banks, like Bank of Ayudhya and the intervened banks, including Siam City Bank and Bangkok Metropolitan Bank, were rated lower because their recapitalization requirements were more urgent and their treatment of subordinated creditors was an mmediate issue. Therefore, their outlooks were negative, Moody’s said. The report said that additional capital was desperately needed by all Thai banks. “The system’s current (June 1999) capital and loan loss reserves, less accrued interest (most of which is unlikely to be recoverable) is estimated to total only about 23 percent of gross loans.” And despite the huge amounts of capital pumped into banks as part of restructuring efforts, “much more is required.” Moody’s also said that the crisis will result in a big increase in the presence of foreign banks in the Thai system, and transform the competitive landscape over the medium and longer term. “It is a distinct possibility that a much larger, and possibly even a dominant, role will be played by foreign banks and that local banks will be marginalised.”



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Phuket

Indian tourist rescued from a near-drowning at Patong Beach

The Thaiger

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Indian tourist rescued from a near-drowning at Patong Beach | The Thaiger

PHOTOS: Patong Surf Life Saving

An Indian tourist has been rescued from drowning after getting into difficulty while swimming at Patong beach yesterday.

Patong Surf Life Saving report that around 1.30pm at Patong Beach an Indian tourist was spotted in the water, choking and fighting to stay afloat.

Lifeguards dived in and brought him back to the beach. He was not breathing and his heart has stopped beating by the time they got him back to shore. Lifeguards urgently applied CPR.

Mr Jhamnani’s heart started to beat again and he became conscious. He was taken to Vachira Phuket Hospital where he is now recovering.

Well done to the team at Patong Surf Lifesaving. I think you can expect a visit from a grateful Indian tourist in a few days.

Indian tourist rescued from a near-drowning at Patong Beach | News by The Thaiger  Indian tourist rescued from a near-drowning at Patong Beach | News by The Thaiger Indian tourist rescued from a near-drowning at Patong Beach | News by The Thaiger Indian tourist rescued from a near-drowning at Patong Beach | News by The Thaiger Indian tourist rescued from a near-drowning at Patong Beach | News by The Thaiger

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Phuket

Polish man charged after threatening people with a gun in Patong

The Thaiger

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Polish man charged after threatening people with a gun in Patong | The Thaiger

PHOTOS: Patong Police

A Polish man has been charged with carrying a gun in public in Patong, Phuket.

Patong Police report that at 6.20pm last night (Tuesday) they were notified that a man was using a gun to threaten others at a hotel on Pisit Koranee Road in Patong.

Police headed to the hotel to find the Polish man. He denied any knowledge about the gun. Then Police questioned his Thai wife. She took police to a room where she gave the gun to police.

The Polish man has now been charged with illegal possession of gun and carrying it in public without a permit.

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Phuket

Phuket kratom-cooker robs pharmacies – VIDEO

The Thaiger

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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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