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Thai Debt-Restructuring Agency Seeks to Farm Out Asset Servicing.

Bangkok Post (Bangkok, Thailand)

| January 06, 2003 | COPYRIGHT 2003 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: Wichit Sirithaveeporn

Jan. 6--The Thai Asset Management Corp is considering a plan to offload debt servicing functions to local banks and other financial institutions once all assets under the agency's portfolio are restructured by the end of this year.

The TAMC, which restructured 500 billion baht in assets in 2002, expects to restructure all 740 billion in assets under its portfolio by mid-year.

Agency officials say once the main restructuring work is completed, allowing local financial institutions to act as servicers for the assets would be more cost-effective and efficient overall, given the high staff and administrative expenses ...

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