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Transfers Streamline Work of Thailand Financial Institutions Development Fund.
Byline: Darana Chudasri
May 8--The Financial Institutions Development Fund (FIDF) yesterday signed a contract to transfer loans worth 150 billion baht from Petchburi Asset Management (PAM) to Sukhumvit Asset Management, in the first move toward the consolidation of its asset management.
Techapit Sangsingkeo, a deputy governor of the Bank of Thailand, said the transfer would help the FIDF to standardise the management of NPLs at companies owned by the FIDF and reduce operating costs.
The assets, liabilities and obligations of PAM will be transferred at book value as of March 31. Loans currently under debt restructuring by PAM worth 20 billion ...
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