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Thailand Asset Management Agency to Mop Up 1 Trillion Baht in Loans.
Jan. 2--Perhaps no other state initiative will play a bigger role in determining the country's economic prospects in 2002 than the Thai Asset Management Corp.
Over one trillion baht in bad loans are expected to be taken up by the state agency. Finance Minister Somkid Jatusripitak has said the agency is expected to restructure around 500 billion baht in assets this year, with some 200 billion completed within the first half.
Over the past six months, work at the TAMC has primarily been in setting up the procedures and resources needed to tackle the hundreds of thousands of loan cases involved.
The TAMC was vested with sweeping powers to encourage ...
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Source: HighBeam Research, Thailand Asset Management Agency to Mop Up 1 Trillion Baht in Loans.