Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing | Archived News |

 

  Welcome to Bernama Banking & Finance Special Page     
 
Malaysian Investors Among Potential Partners For Islamic Bank Of Thailand
Last update: 04/08/2017

By Mohd Haikal Mohd Isa BANGKOK, Aug†4 (Bernama) -- An Islamic fund and a commercial bank from Malaysia are said to be among the potential investors to enter into a partnership with the Islamic Bank of Thailand.†

Local English daily, The Nation, in its report†today, said†the unnamed Malaysian investors were among four parties†currently in†talks with the state-owned bank.†

Another daily, Bangkok Post, said†the bank, which has been asked by the government†to accelerate its efforts to find suitable partners, was negotiating†with three potential suitors.

"The bank's executives have reported (to the State Enterprises Policy Commission) that it†was†in talks with three potential partners, but are†unable to†disclose names at this point as some were listed companies.

"What we can reveal†now is that they are†local and foreign investors," said the Director of State Enterprise†Policy Office Ekniti†Nitithanprapas.

Yesterday, Prime Minister, General†Prayut Chan-o-cha,†instructed the loss-making Islamic Bank of Thailand to complete its long-delayed efforts in finding suitable partners by year-end.

He called upon†the bank's executives to accelerate talks and seal the†deal within the stipulated deadline.

Finding a new partner for the beleaguered bank was crucial in its rehabilitation plan prescribed by the State Enterprises Policy Commission, as the loss-making bank was†saddled with high non-performing financing and accumulated losses, quoted a local media.

Efforts to find a partner for the bank hit a snag previously, as potential suitors requested†the bank to finish recapitalising and raise its capital adequacy ratio to be in line with the 8.5 per cent minimum requirement of Bank of Thailand.

The Finance Ministry holds a†48.5 per cent stake in the bank, with†the Government Savings Bank owning†39.8 per cent and†Krungthai†Bank 9.83 per cent.†

Other shareholders hold†less than two per cent stake in the bank.†

-- BERNAMA


 <Back>

Deficit Talent In Islamic Finance Impacts Quality Sukuk Issuance
Bank Islam's 147th Branch Opens In Kodiang

 
Bank Islam Signs MoU To Drive Digital Platform

Overseas Assurance Corp Rebranded As Great Eastern Insurance
Disaster Insurance Scheme To Be Introduced Nationwide - Shahidan

 
Insurance Industry Needs To Continue Innovating To Combat New Competition

CLOSING, TUESDAY, AUG 22
US 4.2790/2830
S'pore 3.1399/1439
100 Yen 3.9138/9193
Sterling 5.4925/4985
Euro 5.0291/0355
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
  Main | News | Insurance

© 2017 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution