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Thai Asset Management Corp. Gets Third Round of Non-Performing Loan Transfers.
Dec. 6--Third-round transfers of remaining non-performing loans to Thai Asset Management Corp took place on Nov 30.
Based on Dec 31 last year, financial institutions and asset management companies of both the private sector and state agencies had 6,217 cases of non-performing loans totalling 193.2 billion baht, which qualified for transfer to the TAMC.
However, after the transfers were made in November and the details of the debts were examined, only 3,150 cases of loans totalling 113.9 billion baht qualified for the transfer, with the transfer prices being 40 percent of the related book values.
The TAMC is examining the appraised values of collateral and will confirm the transfer prices within 180 days after the transfer date.
It will then issue promissory notes as payment to the financial institutions and the asset management companies concerned.
Most of the cases which could not be transferred to the TAMC were those brought to court with judgements already made.
Manufacturers accounted for 27.8 percent of the total debts transferred to the TAMC on Nov 30, wholesaling and retailing businesses accounted for 21.4 percent, and property businesses accounted for 13.9 percent.
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