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Thai Banks Speed Up Rate of Asset Sales.

Bangkok Post (Bangkok, Thailand)

| June 03, 2004 | COPYRIGHT 2004 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Darana Chudasri

Jun. 3--Local banks are looking to accelerate their non-core asset sales this year as tax incentives on how accumulated losses are booked are due to expire in 2005.

At the same time, the growing economy has led many borrowers who had previously accepted debt-for-equity swaps through past restructuring to look to buy back their holdings or liabilities from local banks to take advantage of the pickup in the capital markets. Kavee Chukitkasem, an analyst from Capital Nomura Securities, noted that 2005 would mark the expiration of accounting incentives allowing banks to carry-forward their accumulated losses for five years.

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Source: HighBeam Research, Thai Banks Speed Up Rate of Asset Sales.

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