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Fresh investigation into SMC loan cases.
Byline: Wichit Chantanusornsiri
Jan. 6--Deputy Finance Minister Chaiyos Sasomsap has ordered a further investigation into the entire loan portfolio of the state-owned Secondary Mortgage Corporation (SMC) to clean up its irregular and high non-performing loans.
An earlier probe that found fake documents had been used in the asset acquisition of more than 100 accounts.
Nine staff involved in the asset purchases were dismissed by the SMC board chaired by Naris Chaiyasoot, the director-general of the Fiscal Policy Office.
The SMC is a state agency that purchases mortgages and bundles them together for securitisation with units subsequently ...
- Bangkok Post, Thailand, company reports column.(Column)
- Newspaper article from: Bangkok Post (Bangkok, Thailand) November 3, 2006 700+ words
...one ordinary share at 1.65 bt. -- SMC Motors said its board on Nov 1 appointed...63.58m bt. NNNN To see more of the Bangkok Post, or to subscribe to the newspaper...bangkokpost.com. Copyright (c) 2006, Bangkok Post, Thailand Distributed by McClatchy...
- Bangkok Post, Thailand, business briefs column.(Column)
- Newspaper article from: Bangkok Post (Bangkok, Thailand) September 13, 2006 700+ words
...Scandinavian Leasing Plc, a subsidiary of SMC Motors Plc. The notes are backed by...receive cash flows. To see more of the Bangkok Post, or to subscribe to the newspaper...bangkokpost.com. Copyright (c) 2006, Bangkok Post, Thailand Distributed by McClatchy...
- Bangkok Post, Thailand, business briefs column.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) August 9, 2006 700+ words
...for debt repayment and working capital. SMC BAD DEBT DECLINES: Non-performing loans...state agency involving collusion between SMC executives and private property developers and credit fonciers. Mr Chaiyos said the SMC, set up to support home mortgage securitisation...
- Bangkok Post, Thailand, company reports column.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) May 19, 2007 700+ words
...reported consolidated Q1 losses of 2.02m bt (-0.35 bt/share) vs profit of 13.86m (2.46 bt/share) last year. -- SMC Motors reported consolidated Q1 losses of 40.44m bt (-0.17 bt/share) vs 15.38m (-0.07 bt/share) last year...
- SMC sees NPLs rise following fraud links.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) July 22, 2006 700+ words
...the year. The ministry wanted SMC to continue operating to serve...market for bank mortgages. SMC has not so far had a significant...have their ups and downs. The SMC could be a channel for funding...Sombat said. To see more of the Bangkok Post, or to subscribe to the newspaper...
- Fraud charges sought over irregular SMC deals.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) January 14, 2006 700+ words
...applications to defraud the SMC. As of Nov 30, 2005, a total...were dismissed earlier by the SMC board chaired by Naris Chaiyasoot...into the activities of former SMC president Siriwat Phromburi...targets. To see more of the Bangkok Post, or to subscribe to the newspaper...
- Fraud investigation follows SMC president's dismissal.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) November 8, 2005 700+ words
...charges might be filed against SMC executives or whether Mr Siriwat...Mr Siriwat as a result of the SMC's declining performance. The SMC was formed to support mortgage...market. To see more of the Bangkok Post, or to subscribe to the newspaper...
- Former SMC officials face criminal suits: Corruption probe also requested.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) August 22, 2006 700+ words
...percent of the total lent. The SMC was set up to support the secondary...their delinquent debt. The SMC plans to sell off these loan...for a review in light of the SMC case. Thai Keha executives...the case. To see more of the Bangkok Post, or to subscribe to the newspaper...
Source: HighBeam Research, Fresh investigation into SMC loan cases.