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Thai Asset Management Firm Expects to Restructure 82.3 Billion Baht in Loans.

Bangkok Post (Bangkok, Thailand)

| June 05, 2002 | COPYRIGHT 2002 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: Darana Chudasri

Jun. 5--Phayathai Asset Management (PAM) expects to restructure all its clients loans, totalling 82.3 billion baht, within eight years, according to Veera Chantajaeng, the managing director.

It has received the transfer of 49.5 billion baht in bad loans from Thai Military Bank in 10 separate lots, with 32.8 billion baht in accumulated interest last year. Involving 5,000 borrowers, the loans were transferred at 90 percent of the collateral value or net book value.

Of the total, PAM had restructured five billion baht in bad loans as of last April, owed by 10 large-scale customers, with 35 ...

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