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Thailand Firms Completing Debt Restructuring Urged to Consolidate.
Byline: Chatrudee Theparat
Mar. 6--Companies that have completed debt restructuring under the Thai Asset Management Corporation (TAMC) will be required to open accounts at Krung Thai Bank to assist the agency in monitoring corporate cash flows.
Somjate Moosirilert, TAMC managing director, said the state agency had held talks with Krung Thai about the plan.
Firms completing debt restructuring would be asked to consolidate their accounts at a single institution to ease monitoring, thus reducing the potential for fraud and giving creditors a better view of each firm's financial position and transaction flows. Mr Somjate said other banks would also ...
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Source: HighBeam Research, Thailand Firms Completing Debt Restructuring Urged to Consolidate.